OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Kelton Nursery

2024-03-31-accounts

Charity registration number 1107519 (England and Wales) Company registration number 1107519

KELTON NURSERY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

KELTON NURSERY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs Nasr Kelly Mr L Owen Mrs W Carson Senior management Ms L Darwin Nursery Manager Ms C Mardsen Nursery Deputy Manager Charity number (England and Wales) 1107519 Company number 1107519 Registered office Kelton House Park Avenue Mossley Hill Liverpool Merseyside L18 8BT Independent examiner Helen Furlong FCCA Xeinadin North West Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR

KELTON NURSERY

CONTENTS

Page
Trsutees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 17

KELTON NURSERY

TRSUTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The charity's objectives and principle activity is the provision of quality education to infants and children through the provision of day-care, after school, and holiday club services.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities

Our significant activities include:

In setting our objectives and planning our activities the trustees have also considered the Charity Commission's general guidance on public benefit.

As a not for profit organisation, all profits is invested back into the provision to ensure that it is fully resourced and fit for purpose.

Kelton Nursery and After School is open to everyone within the community and beyond. It provides government funded places, and offers bursarial assistance to ensure equality of access to the provision. The provision of bursary assisted places ensures the needs of families with low income or other additional needs are catered for.

The nursery fees are determined by running costs, not profit. We are committed to keeping our fees competitive, and fee increases are only considered to ensure the continuation of the service.

Being a Charity with a Board of Trustees that is made up from parents, means that families not only benefit from excellent childcare, but can develop their own skills and knowledge by becoming part of the governance of the provision. Parents and families involved in Kelton can feel they are contributing to the wider community by becoming involved in supporting a charitable cause.

KELTON NURSERY

TRSUTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Significant activities and achievements against objectives

We have had a productive year at Kelton and made progress in a number of areas to enrich the setting notably:-

Recruitment

Earlier in the year we faced significant challenges (as have the rest of the country in a variety of sectors) around recruitment of staff which put additional pressure on the leadership team to cover rooms to maintain ration. We focussed on developing a positive culture internally through a variety of initiatives which reduced our attrition levels towards the end of the financial year. The committee have been supporting the management team with initiatives to retain staff and attract the right calibre of employees. We carried out a review of salaries and adjusted accordingly to ensure we are competitive locally which enabled us to attract new talent.

Inflation

The impact of inflation effected the operating margins within the setting which resulted in us increasing the childcare fees in April 2024 to ensure we could cover the overheads of the business. We will be reviewing fees again in April 20245 to ensure that they are both fair and competitive.

Financial review

The charity has reported a deficit of £10,726 for the year to 31 March 2024 (2023: £40,087).

The impact of this deficit has resulted in a net current asset position of £(23,155) at the year end (2023: £2,007). Overall the charity has net assets of £715,371 (2023: £726,097). Free reserves (total reserves less fixed assets) amounted to a negative of £23,155 (2022 £23,674)

The trustees acknowledge the need for continued strong working capital management, together with regular review and monitoring of the number of children registered for its services on a month by month basis.

Reserves policy

It is the policy of the charity to try to build up modest unrestricted reserves, which are the free reserves of the charity, to a level which will provide assistance for the future operating costs. The trustees continue to work towards building reserves to an optimum range of between £65,000 and £195,000. At this level there would be sufficient free reserves to cover overhead costs for 1-3 months running costs.

Principal funding sources

The charity's primary source of income is generated from nursery fees. Fees are received in return for the provision of daycare, afterschool and holiday club services. Investment policy and objectives. The charity’s funds are currently fully utilised for working capital with no surplus at this time for investment. At such a time this position changes the trustees will develop a suitable policy and set of objectives for investment.

Investment policy

The charity’s funds are currently fully utilised for working capital with no surplus at this time for investment.

At such a time this position changes the trustees will develop a suitable policy and set of objectives for investment.

KELTON NURSERY

TRSUTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Major risks

All existing policies and procedures are periodically reviewed by the senior management team to ensure that they continue to meet the changing needs of the charity and childcare business.

To support the management team, we have engaged a firm of Health and Safety consultants, who work with the staff to ensure all matters are dealt with appropriately.

The board have also engaged an HR consultant who is supporting develop a robust performance framework going forward.

All existing policies and procedures are periodically reviewed by the senior management team to ensure that they continue to meet the changing needs of the charity and childcare business.

The Board of Trustees began the process of creating a risk register last year, this continues in its development and will be reviewed during the year.

Plans for future periods

Our key priorities for the coming year are as follows:

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The organisation is a charitable company limited by guarantee, incorporated on 15 October 2004 and registered as a charity on 7 January 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up the members are required to contribute an amount not exceeding £10.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs Nasr Kelly Mr L Owen Mrs W Carson

Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association, one third of directors must retire at annual general meeting. The trustees of the charity are appointed by the members at each Annual General Meeting.

We are in the process of recruiting new trustees and see this as a valuable development to ensure the structure of an effective committee.

KELTON NURSERY

TRSUTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Organisational structure

The trustees meet on a regular basis and are responsible for the strategic direction and policy of the charity. Fee increases, wage awards and an annual budget are set by the trustees and performance against an agreed budget is reviewed monthly. The day to day operational management of the charity is carried out by the senior management team, supported by external financial and HR support.

Relationship with related parties

None of our trustees receive remuneration or other benefit from their work with the charity. Any relationship between a trustee or manager of the charity with a related party must be disclosed to the full board of trustees on appointment, a declaration of conflict of interest is also a standing agenda item at the bi-monthly trustee meetings. In the current year no such related party transactions were reported.

The trsutees' report was approved by the Board of Trustees.

.............................. Mrs Nasr Kelly

Trustee

Date: .............................................

KELTON NURSERY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KELTON NURSERY

I report to the trustees on my examination of the financial statements of Kelton Nursery (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Helen Furlong FCCA Xeinadin North West Limited

46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Date: ............................

KELTON NURSERY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income and endowments from:
Donations and legacies 3 3,000 -
Charitable activities 4 800,827 773,156
Other trading activities 5 1,477 -
Other income 6 500 -
Total income 805,804 773,156
Expenditure on:
Charitable activities 7 816,530 813,243
Total expenditure 816,530 813,243
Net expenditure and movement in funds (10,726) (40,087)
Reconciliation of funds:
Fund balances at 1 April 2023 726,097 766,184
Fund balances at 31 March 2024 715,371 726,097

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

KELTON NURSERY

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets
The funds of the charity
Unrestricted funds
19		 2024
£
1,880
49,107
50,987
(61,471)		 2023
£
£
738,526
18,782
79,515
98,297
(100,304)
(10,484)
728,042
(12,671)
715,371
715,371
715,371		 £
749,771
(2,007)
747,764
(21,667)
726,097
726,097
726,097

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................

..............................

Mrs Nasr Kelly

Trustee

Company registration number 1107519 (England and Wales)

KELTON NURSERY

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
21
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(1,040)
(20,071)		 £
(9,297)
(1,040)
(20,071)
(30,408)
79,515
49,107		 2023
£
£
(92,677)
(1,875)
(1,875)
(28,627)
(28,627)
(123,179)
202,694
79,515

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Kelton Nursery is a private company limited by guarantee incorporated in England and Wales. The registered office is Kelton House, Park Avenue Mossley Hill, Liverpool, Merseyside, L18 8BT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are 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 measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 1% on cost Fixtures and fittings 25% reducing balance Equipment 25% on cost Motor vehicles 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 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.

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily 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 underlying assumptions 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.

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Income from donations and legacies
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 3,000 -
4 Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Day nursery and afterschool services
Nursery fees 577,960 559,205
Afterschool fees 60,205 61,750
Holiday care 15,824 19,177
Early years' funding 146,838 133,024
800,827 773,156
5 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 1,477 -
6 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 500 -

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Expenditure on charitable activities

Day nursery Day nursery
and and
afterschool afterschool
services services
2024 2023
£ £
Direct costs
Staff costs 640,222 626,809
Depreciation and impairment 12,285 13,586
Food and kitchen costs 21,595 22,365
Nursery resources and equipment 14,823 22,481
Insurance 5,171 4,334
Rates 9,139 9,270
Travel and motor expenses 4,642 5,143
Printing, stationery and postage 2,746 2,909
Internet, computer and telephone costs 9,245 7,403
Repairs and maintenance 25,958 28,652
Electricity and gas 22,572 21,281
Sundry expenses 3,770 3,269
Security costs 9,750 8,408
Hygiene and waste costs 7,566 6,927
Leasing and equipment costs 8,131 6,394
Training and subscriptions 2,690 5,780
Other charitable expenditure 857 -
801,162 795,011
Share of support and governance costs (see note 8)
Support 12,968 15,232
Governance 2,400 3,000
816,530 813,243
Analysis by fund
Unrestricted funds 816,530 813,243

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8
Support costs allocated to activities
Payroll and bookeeping fees
Professional fees
Bank charges
Loan interest paid
Governance costs
Analysed between:
Day nursery and afterschool services
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2024
£
8,532
2,780
695
961
2,400
15,368
15,368
2024
£
1,200
12,285		 2023
£
10,563
1,900
1,196
1,573
3,000
18,232
18,232
2023
£
1,200
13,586

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

Charitable staff
Management staff
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
27
2
29
2024
£
598,895
32,373
8,954
640,222		 2023
Number
27
2
29
2023
£
584,955
32,958
8,896
626,809

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel amounted to £86,106 (2023 £73,589)

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2023
901,445
44,605
Additions
-
-
At 31 March 2024
901,445
44,605
Depreciation and impairment
At 1 April 2023
161,547
36,547
Depreciation charged in the year
9,011
2,000
At 31 March 2024
170,558
38,547
Carrying amount
At 31 March 2024
730,887
6,058
At 31 March 2023
739,898
8,058
14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Equipment
£
112,485
1,040		 Motor
vehicles
£
29,520
-
29,520
29,520
-
29,520
-
-
2024
£
340
1,540
1,880		 Total
£
1,088,055
1,040
113,525 1,089,095
110,670
1,274		 338,284
12,285
111,944 350,569
1,581 738,526
1,815 749,771
2023
£
17,338
1,444
18,782

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Loans and overdrafts

Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2024
£
22,671
10,000
12,671		 2023
£
42,742
21,075
21,667

The bank loan represents a bounce back loan which is repayable over 6 years. Interest is charged at 2 %

16 Creditors: amounts falling due within one year

Notes
Bank loans
15
Trade creditors
Other creditors
Accruals and deferred income
17
Creditors: amounts falling due after more than one year
Notes
Bank loans
15
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
10,000
4,320
18,057
29,094
61,471
2024
£
12,671
2024
£
8,954		 2023
£
21,075
-
42,709
36,520
100,304
2023
£
21,667
2023
£
8,896

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

KELTON NURSERY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Unrestricted 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 grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 726,097 805,804 (816,530) 715,371
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
General funds 766,184 773,156 (813,243) 726,097

20 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

21
Cash absorbed by operations
Deficit for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
(Decrease) in creditors
Cash absorbed by operations		 2024
£
(10,726)
12,285
16,902
(27,758)
(9,297)		 2023
£
(40,087)
13,586
(1,773)
(64,403)
(92,677)

22 Analysis of changes in net funds

Analysis of changes in net funds
At 1 April 2023 Cash flowsAt 31 March 2024
£ £ £
Cash at bank and in hand 79,515 (30,408) 49,107
Loans falling due within one year (21,075) 11,075 (10,000)
Loans falling due after more than one year (21,667) 8,996 (12,671)
36,773 (10,337) 26,436