Charity registration number 1101111 Company registration number 03647635 (England and Wales) ACTION WEST LONDON ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (AMMENDED) ACTION WEST LONDON LEGAL AND ADMINISTRATIVE INFORMATION Trustees D Anderson J Bryan E Harrfs A Sklnner-Jozefson M Snowden A G Coyne Charlty number 1101111 Company numbar 03647635 Reglstered office 10 Warple Mews wa￿le Way Acton London W3 ORF Independent examlner Blackstones Accountancy Ltd rf21 Vlolet Avenue Hillingdon Mlddlesex UB8 3PT Bankars Natlonal W8Stmlnst8r Bank plc 1 The Mall Ealing London W5 2PL W5 2PL Sollcltors Russell-cooke Sollcitors 2 Putney Hill Putney London SW15 6AB ACTION WEST LONDON CONTENTS Page Chlef Executive's Statement Trustees, report Independent examlnerfs r8POrt Statement of financial activities Balance sheet Statement of cash flows Notes to the flnancial statements 10-20 ACTION WEST LONDON CHIEF EXECUTIVE'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 AWL continues to play a vital role as an anti-poverty charity. supportlng individuals into employment and tralnlng opportunitles. Despite facing immense financial pressures, like many charities in the sector, we remaln committed to our mission of reducing poverty and fostering social and economic inclusion. We a￿ immensely grateful for the ongoing support from SEGRO PIC and Ealing Council, whose contrlbutions are Instrumental in 5UStalning our impac￿[ worf<. In February 2024, we were immensely honoured and humbled to win th8 Community Interest Award in the prestigious West London Buslness Awards held at Tvlickenham Stadlum. Key Achlevements: Employment and Training Outcomes.. 514 individu81s engaged in our programs, with 156 participants sustaining employment for at least 26 weeks. 38 short courses completed, equlpplng partlclpants with essential skills to access meanlngful employm8nt opportuniti8S. VocatlonBI Tralnlng Delivery: A range of industry-relevant courses, includlng CSCS (Construction Skills Certlfication Scheme). Customer SeNice, and SIA (S8curity Industry Authority) certlficatlons. helping Indlvidu8ls build sustainable careers. Employment sustalnm8nls are closely monltored across key programs such as ABLE2, YES, and PTA. ensuring long- term posltlv8 Outcomes. Demographic Reach: The majorlty of the Indlvlduals w8 SUPPOrt are people of colour from the Global Southem majorlty, wlth 37.80/0 Sdentifying as Black or Black Brltlsh - African and 15.60/0 as Black or Black Britlsh - Caribb8an. Other signlflcant ￿preSentatIOn Includes 14.4% Whlte 0th8r and 10% Whlte - EngllshlWelshlScotli8hlNorthern lrishl8rltlsh. ref18Cting the dlverslty of our communlty engagement. Borough Impact: Our servic8s have made the gr&at8St impact In Eallng (320A), followed by Hllllngdon (21.30/0) and Harfngey {180/0), ensuring targeted support where il is needed most. Acton Street Market- A Vital Community Hub: Aclon Street Mark6t, which we proudly manage. continues to seNe as a vltal hub for th8 local community, fostering 8conomic activity, supporting small buslnesses, and creating employment opportunities. The market embodies AWL'S commitment to strengthening community ties and providing plafforms for 8conomlc partlclpatlon. Transfomallonal Slories and Testimonials: Success stories. such as Natallia's journey from Ukralne to London, highlight the profound impact of our ESOL (English for Speakers of Other Languages) and vocational training programs in empowering individuals. Client testimonials consistently emphaslse Improvements in confidence. mental well-being. and the ability to achieve financial independence and support Iheir families. As CEO. l am incredibly proud of the strong community links that are ￿ntral to our work. These relationshlps enable us to address the evolving need5 of our beneficiaries and reinforce the importance of collaboralion in driving meaningful chang8. AWL remains st8adfast in our mission., d8SPIt8 the financial challenges we face. With th8 continued support of our partners and our deep-rooled Gommunily engagement, we will persist in providing life- changing opportunities for those in need. Gary Buckley Chlef Executlve Date.. 19th June 2025 ACTION WEST LONDON TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year end8d 31 March 2024. The financlal statements have been prepared in accordance wlth the accountlng policies set out in note 1 to the flnancial statements and comply with the charity's tgoveming documentl. the Companies Act 2006 and "Accounting and Reportlng by Charflles.. Statement of Recommended Practlce applicable to charities preparlng their accounts in accordance with th6 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102>" (effective 1 January 2019). Objectlves and acllvities 1. The objects of the Charity (the 'Objects") are for the public benefit: 1.1 the relief of unemployment; 1.2 the advancement of education, tralnlng or retralnlng, particularfy among unemployed people, and providing unemployed people with work experience and employment; 1.3 the relief and preventlon of povety; 1.4 to develop the capacity and s kllls of socially and economically disadvantaged membars of the publlc In such a way that they ar8 b81ter able to Identify and help meet their needs and participate more fully in society., 1.5 the promotion of urban regeneration In ar8as of social and economic deprfvation by all or any of the following means: (al the provision of fln8ncial assistanc8, technical asslstsnc8 or buslness advlce or consultancy in order to provide trainlng and employm6nt opportunitles for unemployed people in cases of financial or other charitable need through help (l) in settlng up thelr own business or social enterprlse (li) to existing buslnesses or social 8nlerprises' {b) the provislon of facilities for Ihe publlc at large or those who by reason of their youth age Infirmlty or disablement, poverty or social and economic circumstances, hav8 need of such facilltles; (cl the provision of public health facllilies and childcare; ( d) promotion of public safety and preventlon of crime, Induding by rehablllt8tion of young and adult offenders., and (e) the creatlon of trainlng and employment opportunltl85, including by the provision of worf(spa¢e. buSlding andlor and for use on favourable terms., 1.6 to further such other excluslvely charitable purposes according to the law of England and Wales as the Trustees In thelr absolute dlscr8tion from tlme to tlme determ5ne. 2. The princlpal activities of th8 Charity are focused in the 6 West London Boroughs of Ealing, Hounslow, Hamm8rsmith and Fulham, Brent, Hllllngdon and Ha￿ow. Th8 activities concentrat8 on promoting communlty and economic regenèration through assisting unemployed residents Into Employment, Improvlng functional skills, supportlng disadvantaged Sndividuals and communities including young people not In educatlon, training or employment (NEETS). young offenders, care leavers, lone parents, black and ethnlc minority individusls, refugees, ex offenders, older people, lone parents and indivlduals with mental h8alth issues. Action Wesl London's alm Is: 'Changlng lives through Employment, Education and ETrterpri56' Action West London works in partnership with statutory. voluntary, community and private sector agencies to promote community and economic regeneration in West London and provide Employment, Education and Enterpris8 opportunities for disadvantaged people lo improve their lives. Action West London's VALUES are: Professionallsm. Resp¢c( Integrity, Diverslty, Empowermen¢ (PRIDE) The results of the year are s8t out on pages 12 to 27. In the 12 months under review Action West London continued to make good progress in achieving its charitable obj8Ctives under 3 of its key themes, namely.. 1. Assisting unemployed and economically inactive individuals. particularfy those who are disadvantsged, and the majortty from BAME communities to secure Employment. 2. Assisting individuals, particularly those who are disadvantaged. to gain Education, Tralning and Qualffications. 3. Helping promote Enterprise including running a social enterprise and h8lping individuals into self-employment. ACTION WEST LONDON TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Charity aims lo achleve this by developing the following key themes of work: THEME 1: Helping residents, particularly those who are dlsadvantsged, Into Employment, THEME 2.. Helping residents, particularly those who are disadvantsged. improv8 Educatlon and Training and gain Quallfications. THEME 3= Helplng individuals set up in Self-Employment and Enterprise, includlng start-up Businesses and Social Enlerprises. THEME 4: Contributing to a wlde range of soclal, communlty and economic regéneratlon InitiatlV8s both on a borough wide and West London sub regional basis. THEME 5.. Making Acuon West London a financlally sustainable charity and social enterprise so that It can continue Its charitable. objecllves and deliver badly need seNices to disadvantsged individuals. Public ben8fit The truslees have paid due regard to guidance issued by the Charity CommSsslon in declding what actlviti8S the charity should undertake. Financlal review Reserves policy It is the pollcy of the charlty that unrestricted funds which have not been deslgnated for a sp8cific use should be maintalned at a level equivalent to be￿88n three and six month's expenditure. The truste8s consider that r8serv8S at this level will ensure that, In the event of a signiflcant drop in ftjnding. they b& able lo continue the charity's current actlvllies while consideratlon Is given to ways In whlch additional funds may be ralsed. Thls level of re88n188 has b88n maintalnad throughout the year. D8v8lopments, funding and projects In 2023124 Despite the flnancial challengesActlon West London stlll d8v8loped some excltlng initiatives in 2023124 which enabled successful deliv&ry of the Charlvs core objectives and provlded significant benefits to dlsadvantag8d individuals. The Trustees would especially Ilke to thank all those publlc bodies and Trusts who have supported Action West London's activltles during 2023124. These included the followlng: Trust for London and Clty Brldge Trust for continuing to fund Novlng on Up, (MOU) an innovative employment project for unemployèd black young men ag8d 16-24 years. Thls programme addresses Trust for LondonlBTEG research findings that black young men al all educational levels from school leavers to graduates -have hvice the unemploymenl rat8s of young men of any other ethnlc background. GLAIESF for the ABLE 2 payment by results project for NEET young people with physical or long tenn health Issues (Prime contractor Barnet College). National Lottery Community FundlESF for the SWEET project. BBC Children In Need fund for rA)ntinuing to support a project forchildren and young people at risk. 880 Climate Action Fund (Formerly Llveability) for continuing to fund for the Acton Street Market Project. National Lottery Community FundlESF for funding the EQUIP project. Winston Churchlll Trusl for the core activities. Ealing Funding Black Men for providing trainlng and employment support to black young men. London Community Fund SEGRO for providing trainlng and employment support to young people. GLAIESF for the payment by results project for SEND NEET young people with physical or long tenm health issues {REED in Partnership). GLAIESF for funding the payment by results Positive Tumaround project for unemployed ex-offender8 aged 18* years (Prime conlractor London Training and Enterprise Network). Donors from the communlty for their contributions towards AWL'S work. Investment pollcy The Charity received a specific grant in March 2004 lo enable it to purchase an inv8Stment property which is to b8 used to generate income for the company's general charitable purposes. Major risks The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ACTION WEST LONDON TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk mitigatlon: Action West London wlll increase the number of Grant applications to Trusts and Foundations. and will continue to expand its 'mlxed funding strategy, to generate more income from sources such as corporate funding and public donations. 'Payment by r8sults' model carries Inherent risks to an organisation. Increaslngly Action West London has to act 8$ a subcontrdctor which means that we 'lose' around 1 StsA-20'h of the contracl value to the Prfme contractor. This 150/0-200/0 Was previously our margln to cover core costs of the organisation. We have to operate on very tight margins whlch makes PBR contracts Inh8rently rlsky. Loss of experienced staff. The short-term nature of contracts and the often lengthy 'gaps' bètween fund8rs issuing new programm8s and tenders means Ihat we regularly face the dllemma of losing valuable, 8xperienced staff when a contract ends and there is no n8w contract which could enable continued employment. Recruiting and malntaining quality slaff Is a major rlsk to the Charity. 'Risk management, controls In place. Action W8st London Trust88s and staff are aware of the challenges the Charlty faces, and wa have Governance arrangements in place. The Board aims to ensure that the Charity responds effectively to the difficult circumstances it faces. Act6on West London's reserves are vltal to cover 'cash flow,, other financlal risks and potential annual deficits. Structures governance and management The Trust was incorporated on 6th October 1998 as a company limited by guarant88 and adopted the status of a registered charlty on 91h December 2003. It also operated under the name "Aclion Acton" and followlng a change of name on 2nd Jun8 2015 now operates as 'Action West London" The company Is gov8med by its Memorandum and Artlcles of Assocl8tlon. Th8 trustees, who are also the dlrectors for the purpose of company law. and who seNed durlng the year and up to the date of signature of the financlal stat8m8nls were: D And8rson J Bryan E Harris A Skinn8r-Jozefson M Snowden A G Coyne Recruitment and appolnlment of trustees The Board consists of not fewer than 3 and no more than 12 Twstees. The Board may appoint Trustees at any time at a meeting or in writing. No person under the age of 18 may be appointed as a Trustee. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Retirement of members of the Board At the third Appointment Board Meeting after hislher last apF)ointment a Trustee shall retire. He she shall be eligible for re-appointmant by ihe Board. For the purposes of this (Article 24) a"yeaV' shall mean a complete period of seNice be￿88n two Appointment Board Meetings. A Board of Trustees of up to 12 members. who meet quarterly. administer the Charity. A Chief Executive is appoint8d by the Trustees to manage the day-to-day operations of the Charity. There are no relat8d partias Mrilhin the definition in GL50 of SORP 2005, but the company works closely with all the r8presentstlve bodies referred to in the Memorandum and Articjes of Association to achieve the company's objects, ACTION WEST LONDON TRusfEES" IIEPORT ONCLUDING DIREcfoR3 REPIXIT) ICONIIMUED) FOR 7HE YEAR ENDED 31 MARCH 2024 AG 64 ?oèr ACTION WEST LONDON INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACTION WEST LONDON I report to the trustees on my examination of the financial statements of ACTION WEST LONDON {the charity) for the year ended 31 March 2024. Responslblllties and basls of report As Ihe trustees of the charlty (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (thé 2006 Act). Having satisfied myself that the financial ststements of the charity arè not requlr8d to be audlt8d under Part 16 of the 2006 Act and are ellgible for ind8pendenl examlnation, I report in respect of my examination of th8 charity's financlal statem8nts carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my 8X8mination I have followed all the applicable Directions given by the Charity Commission under sectlon 145(5)(b) of the 2011 Act. Independenl examinerfs statement Slncè the charlty's gross income exc8ed8d £250,000 your 8xamlner must b8 a member of a body Ilsted In section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Ihe Associatlon of Chartered Certified Accountants, which Is one of th8 Ilsted bodies. I have completed my ex8mlnatlon. I confirm that no matters have come to my attentlon Sn connectlon wlth the examlnatlon giving me cause lo belleve that in any material respect: accounting records were not kept in respect of the charity as requlred by section 386 of the 2006 Act: or the flnancial statements do not accord with those r8cords; or the flnancial statements do not comply with the accounting requlrements of section 396 of the 2006 Act other than any requirement that the accounts giv8 a true and fair view which Is not a matter considered as part of an independent examination., or the financial statements have not been prepared In accordance with the methods and principles of the Statement of Recommended Pr8cllce for accounting and reportlng by charities appllcable to charfties preparing their accounts in accordance with the Finan¢lal Reporting Stsndard appllcab18 in the UK and Republic of Ireland {FRS 102). I have no concems and have come across no other matters in connectlon with the examination to whlch attention should be drawn in this report In order to enabla a proper understanding of the financial 8tat8m8nts to b8 reach8d. Nesar All FCCA Blackstones Accountancy Ltd 121 Vi018t Avenue Hillingdon Middlesex UB8 3PT Datad: .. ACTION WEST LONDON STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricled Restricted funds funds 2024 2024 Total Unr&strict8d Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donatlons and legacles Charitable activities Other tradlng activities nvestments 33,194 225,194 74,701 3,209 657,834 691.028 225,194 74,701 3,209 86,379 693,080 77,567 1.465 418,254 504,633 693,080 77,567 1.465 Total Income 336.298 657,834 994.132 858,491 418,254 1,276,745 Expendltura on: Raising funds Charitabl8 activltles 135,993 179,124 135,993 947,569 147,116 608.748 147,116 989,108 768.445 380,360 Total expendlture 315.117 768,445 1,083,562 755,864 380,360 1,136,224 Net Incomel(expendlture) and movement in funds 21,181 (110.611) (89.430) 102,627 37,894 140,521 Reconclllatlon of funds: Fund balances at 1 April 2023 2.044,735 273,374 2,318,109 1,942,108 235,480 2,177,588 Fund balancos at 31 March 2024 2,065,916 162,763 2,228,679 2,044,735 273,374 2,318,109 The stat8ment of financial activities includes all galns and losses recognlsed In the year, All Income and expenditure derive from continuing actlvitles. ACTION WEST LONDON BALANCE SHEET ASAf31 MARCH 2024 TanolAe assd* 12 1.765m7 1.761,731 13 197.174 0.483 416.253 183,226 Cash at 8nd In 487MSI 599A79 14 on•y• 43.101 462.812 556,378 1228,67è 1>18,109 15 162, 2.QeS,916 273.374 2W,735 Umjltsled &#xli 1228,879 1318,109 ACTION WEST LONDON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash generated froml(absorbed by) operatlons 19 111.709 {105,051) Investing actlvitles Purchase of tangible fixed assets Investment income received (7,661) 3,209 (4,991) 1,465 Net cash used In Investlng actlvities (4,452) (3,5261 Net cash used In flnancing acllvltle$ Net Increasel{decrease) in cash and cash equivalents 107.257 (108,577) Cash and cash equivalents at beginning of year 183,226 291,803 Cash and cash equlvalents at end of year 290,483 183,226 ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng policles Charlty Informatlon ACTION WEST LONDON is a private company Ilmited by guarantee incorporated in England and Wales. The register8é offlce is 10 Warple Mews, Warple Way, Acton. London, W3 ORF. 1.1 Accounting convention The ff nancial stat8ments have been prepared in accordance with the charlty's tgovernlng document], tha Companies Act 2006, FRS 102"The Financial Reporting Standard applicable In the UK and Republlc of Ireland" ("FRS 102.1 and the Charitl8s SORP °Accounting and Reporting by Charities.. Statem8nt of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reportlng Standard applicabl8 In the UK and Republic ol Ir8land (FRS 102)" (effective 1 January 2019). Th8 charity is a Publlc Benefit Entity as defined by FRS 102. The financlal ststemenls are prepared In sterling, which Is Ihe fijnctional currency of the charity. Monetary amounts In thes8 financial slatements are rounded to the nearest £. The financial statements have been prepared under the historical cost conv8ntion, modlfied to Includ8 th8 revaluation of fre8hold propertles and to include Investment properfes and certain flnanclal Instruments at falr valu8. The pr*nclpal accounting policies adopted are set out below. 1.2 Golng concem At the time of approving the flnancial statements, the trustees have a reasonable expectation that the charlty has adequate ￿sourceS to continu8 in operatlonal exist8nc8 for the foreseeable future. Thus the truslees contlnu8 to adopt the golng CA)ncem basis of accounting in preparlng the financial stat8menls. 1.3 Charltabl8 funds Unrestrlcted funds are available for use at the discr8tion of the trustees In furtheranc8 of th8ir charitable objectives. Restrlcted fund8 are 8ubject to speclfic condltlons by donors or grantors as to how they may be used. The purposes and uses of the restrlct8d funds ar8 set out In tha notes to the financial stat8m8nts. Endowment funds 8r8 subj8Ct to SP8cific conditions by donors that Ihe capital must be maintain8d by th8 charity. 1.4 Income Income is r8cognis8d when the charity is legally 8ntitl8d to it after any perfonn3nce conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donation8 are recognised once the charity has been notified of the donation, unless performance condilions require deferral of the amount. Income tax recoverable in relation to donations recelved under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are r8cognised on r8C81Pt or oth8rwis8 rfthe charity has been notified of an imp8nding distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 10- ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles (Contlnued) 1.5 Expenditure Expenditure Is recognised once there is a legal or constructive obligatlon to transfer economlc benefit to a thlrd paty. it is probable that a transfer of economic benefits will be required In setuement, and the amount of the obligatlon can be measured reliably. Expenditure Is classified by activity. The costs of each actlvlty are made up of the total of direct costs and shared costs, Including support costs Involved in undertaklng each activlty. Direct costs attributabl8 to a single actlvity are allocated dlrectly to Ihat activity. Shared costs which contribute to more than one activity and support costs whlch are not attributable to a slngle activity are apportioned between those act5vltles on a basis consistent wlth the use of resources. C8ntral staff costs ar8 allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are Initially measured at cost and subsequently measur8d at cost or valuation, net of d8preciatlon and any impairment losses. Depreclatlon Is récognised so as to wrlte off th8 Cost or valuation of assets less thelr resldual values ov8r their useful Ilves on the following bases: Freehold land and buildings L8asehold Improvements Flxtur8s and fittings Computers NIA Written off on a straight line basls Written off over 5 years Dn a straight line basis Writt8n off over 5 years on a stralght Ilne basis Th8 gain or1088 arfslng on the disposal of an asset Is determlned as the difference be￿een the Sale proceeds and the Carrying value of the asset, and Is recognlsed In Ihe ststement of financial actlvities. 1.7 Impalrment of flxèd asséts At each repcrtlng 8nd date, th8 charity reviews the carying amounts of its tsngible assets to d8t8rmin8 wh8th8r there Is any indlcallon that those assets have suffered an impairmenl loss. If any such Indlcatlon exlsts, the recoverable amount of the asset Is estlmated In order to determlne the extent of the Impaimient loss (if any), 1.8 Cash and cash equivalents Cash and cash equivalents includs cash in hand, d8POSits held at call with banks, other short-t8rm liquid investments with original maturilies of three months or less, and bank overdrafts, Bank ov&rdrafts are shown wllhln borrowings in curr8nt Ilabilltles. 1.9 Flnanclal Instruments The charity hes elected lo apply the provisions of Seclion 11 'Basic Financial Instrumenl8' and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instrum8nts. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. wh&n there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 11 ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) Basic financlal assets Basic financial assats, which include debtors and cash and bank balances, are initially measured at transaction prlce including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitules a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of intèrest. Financial assets classified 89 recelvable within one year are not amortised. Baslc flnanclal liabllltles Baslc financial liablllti8s, including creditors and bank loans are initially recognised at transactlon prlce unless the arrangement constitutes a financing transaction, where the debt instrument is measured at th8 present V81ue of the future payments dlscounted at a market rate of Intarest. Financial liabilities classified as payable within one year are not amortised. Debt Instruments are subsequendy Carried at amortlsed cost, using the effective interest r8te method. Trade creditors are obligations to pay for goods or s8rvices that have been acquired in the ordinary cours8 of operations from suppliers. Amounts payable are classified as current liabllitles if payment Is due wlthln one year or less. If not, they ar8 presented as non-current liabilities. Trade credltors are recognised initially at transaction price and subsequently measured at amortlsed cost uslng the effectlve Interest melhod. Derecognltlon of financlal Ilabllltles Flnanclal Ilabilllles are derecognlsed when the charltys contractual obllgations expir8 or are dlscharg8d or canc8lled. 1.10 Employee beneflts The cost of any unused hollday entltlement is recognlsed In the period in which th8 8mployee's seNlces are received. Teminatlon benefits are recognised Immediately as 8n expense when the charlty Is demonstrably committed to terminate the employment of an employee or to provid8 t8rmination b8n8fits. Crltlcal accountlng estlmates and Judgements In Ihe appllcatlon of the charfty's accounting pollcl8S, the trustees are required to make judgements, estimates and assumptlons about the carying amount of assets and liabilities that are not ￿adIlY apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlyirvJ 85sumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 12- ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and legacles Unrestricted Restrlcted funds funds 2024 2024 Totsl Unrestricted Restrlcted funds funds 2023 2023 Totsl 2024 2023 Donatlons and glfts Project 8nd other grant incom8 2,156 2,156 1.379 1,379 31,038 657,834 688,872 85.000 418,254 503,254 33,194 657,834 691.028 86,379 418,254 504,633 Donations and glfts Donation and gifts from indlviduals 2,156 2,156 1,379 1,379 2,156 2,156 1,379 1,379 Grants recalvabl8 for core actlvltles Other grant Income 31,038 other restrlcted grant 31,038 657,834 85,000 85,000 418,254 657,834 418,254 31.038 657,834 688,872 85,000 418,254 503,254 Income from charltable acllvltles Unrestrl¢ted Other PBR Unrestrlcled Contracts Income Income 2024 Total Unrestrleted Other PBR Unrestrlcted Contracts Income Income 2023 Totsl 2024 2024 2023 2023 Payment by results contracts Other income 220,000 220,000 5,194 678.747 678,747 14,333 5.194 14.333 220,000 5.194 225.194 678.747 14,333 693,080 Analysls by fund Unrestricted funds 220,000 5.194 450,388 678.747 14,333 693,080 13- ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other tradlng actlvlties Unrestricted Unrestrl¢ted funds funds 2024 2023 Rental income 74,701 77,567 Income from Investments Unrestricted Unrestrlcted funds funds 2024 2023 Interest receivable 3,209 1,465 Expendlturo on ralsing funds Unrastricted Unrestrlcted funds funds 2024 2023 Fundralslng and publiclty Other fundraising costs Staff costs Support costs 52,856 48,448 34,689 44,282 72,138 30,696 135,993 147,116 14- ¢ow (5) n O Ln* 10 C4￿0 fL> c c q) ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees Payments were made during the year to one of the trustees, MrA Coyne to the amount of £35.000 for provldlng consultancy services {2023: £35,000). No other trustees (or any persons connected with them) received any other remuneration, fees or benefits from the charity during the year. This transaction has also been disclosed under note 18: Related party transactions. 10 Employeas Th8 average monthly number of empioyees during th8 y8ar was: 2024 Number 2023 Number General Projecl staff 18 24 Total 21 27 Employment costs 2024 2023 Wages and salarles Social security costs 661,420 64,343 767,160 70,923 725,763 838,083 The key management personn81 of the charty comprlse the Chief EXeCut￿e, tha Flnance & Facilities manager and the Operations and Buslness Development Manager. The total remuneration and employee beneflts of the key manag8ment personnel of th8 charity are £146,871 (2023 - £167,273). Th8r8 was 1 employee during the period whose annual remuneratlon was more than £60.000. 11 Taxation The charity is 8X8mpt from tsx on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects, 16- ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Tanglble fixed assets Freehold land Leasehold Flxlures and and bulldings Improv¢m•nts fittlngs Compuler5 Total Cost At 1 April 2023 Additions 1.750.000 47,351 62,267 7,661 161,386 2,021,004 7,661 At 31 March 2024 1,750,000 47,351 69,928 161,386 2,028,665 Depreciation and Impalmient At 1 April 2023 Depreciation charged in the year 46,627 724 55.504 2.164 157.142 637 259,273 3,525 At 31 March 2024 47,351 57,668 157,779 262,798 Carrylng amount At 31 MarGh 2024 1.750.000 12.260 3,607 1,765,867 At 31 March 2023 1.750.000 724 6,763 4,244 1.781,731 The carrying value of land included in land and bulldlngs comprlses: 2024 2023 Freehold 1,750,000 1,750,000 Land and buildings with a carrying amount of £1,750,000 were r8valu8d at 23 Sepiember 2020 by Voklns Chartered Surveyors indep8nd8nt valuers not connected with the charlty on the basis of open market valu8. The valuatlon conforms to International Valuatlon Standards and was bas8d on market trans8Ctlons on arm's 18ngth terms for similar properties. Under the current volatlle market condilions this valuation is still consldered to be a fair approximation of the open market valu8 of the propety at 31 March 2024. At 31 March 2024, had the revalued assets been carried at historic cosl less accumulat8d deprecSation and accumulated Impalment losses. their carrying amount would have been approximately £5,950 (2023 - £5,950). The revaluation surplus is disclosed in the face of the balance sheet as a s8parate line. 13 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 5,300 396,715 14,238 182.290 14,884 197,174 416,253 17- ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Creditors: amounts falllng due wlthin one year 2024 2023 Other taxation and social security Payments recelved on account Trade creditors Other creditors Accruals and deferred income 17,415 2,971 30,035 1,895 735 4,800 10,095 24.845 43,101 15 Restrlcted fund$ The r8Stricted funds of the charity comprlse the unexpended balances of donatlons and gr8nls held on trust sublect to sp8clfic conditions by donors as to how they may be usgd. At l Aprfl 2023 Incomlng resources Resources At 31 March expended 2024 Income fund Freehold property r8V81uation reseNe 147,522 125,852 657,834 (768,445> 36,911 125,852 273,374 657,834 (768,445) 162,763 Pravlous year: At l April 2022 Incomlng resources Resources At 31 Mar¢h expend8d 2023 Income fund Freehold property revaluation reseNe 109,628 125,852 418,254 (380,360> 147,522 125,852 235,480 418,254 (380,360) 273,374 18- ACTION WEST LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Unrestrlctad funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grdntors as to how they may be used. These include designated funds which have been set aside out of unreslricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General fund Designated fund Freehold propety revaluatlon reserve 376,537 50.000 336.298 (315,117) 397,718 50,000 1,618,198 1,618.198 2,044,735 336,298 (315,117) 2,065,916 Previous year: At 1 Aprll 2022 Incomlng resources Resources expended Transfers At 31 March 2023 G8neral fund Designated fund Freehold property revaluation reserve 223,910 100,000 858.491 (755,864) 50.000 (50,000) 376,537 50,000 1,618,198 1,618,198 1,942,108 858,491 (755,864) 2,044,735 17 Analysis of net assets between funds Unrestrlcted funds 2024 Restrlcted funds 2024 Totsl 2024 Fund balances at 31 March 2024 are represented by: Tangible assets Current asset51