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← St Andrews Play Association

2024-03-31-accounts

Charity registration number 1110172

Company registration number 05366564 (England and Wales)

ST. ANDREWS PLAY ASSOCIATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

ST. ANDREWS PLAY ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Anthony Cusack
Daniel Ashman
Oliver Speller
Secretary Stephen Ashley
Senior management Stephen Ashley Chief Executive
Charity number 1110172
Company number 05366564
Principal address Playbuilding (Thirlmere Gardens)
111 Walnut Street
Leicester
LE2 7LA
Registered office Playbuilding (Thirlmere Gardens)
111 Walnut Street
Leicester
LE2 7LA
Independent examiner Thomas Mayfield BA FCA
Mayfield & Co
2 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
Bankers Unity Trust Bank Plc
Nine Brindley Place
Birmingham
B1 2HB

ST. ANDREWS PLAY ASSOCIATION

CONTENTS

Page
Trustees report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 15

ST. ANDREWS PLAY ASSOCIATION

TRUSTEES 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 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

Objects of the charity, principal activities and organisation of our work.

The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.

The charity's object and its principal activity is that of providing facilities for recreation for children resident in the St. Andrews and surrounding areas of the city of Leicester.

The charity is organised so that the trustees meet regularly to manage its affairs. There is a part time administrator, who manages the day to day administration of the charity. The remaining staff are employed at the Play Building.

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

Achievements and performance

The Project has enjoyed another very successful year in terms of attendance and use by Children and Young People in the Greater St Andrews area, which continues to reflect the diverse nature of the locality. This is all achieved without the need to advertise or promote the service, outside providing information pertaining to opening hours. Indicating that, Parents and Carers are recommending the Service to others. The Playground has never been busier than it currently is.

Links were maintained with Neighbourhood Policing Unit and further developed with specific Local Schools. The Beat Team used the premises to engage with local residents both on an ad hoc basis for specific initiatives and we liaised with the schools as circumstances required.

We were able to continue to provide fruit on a daily basis for the users and in conjunction with Fare Share, who also supplied most of the other surplus food that was provided to the users on a daily basis. The Food Pantry was supplied by Fare Share and toped up with funding from the Household Support Fund, facilitated locally by the Feeding Leicester partnership.

Interaction with those in need has inevitably led to more effective signposting to other services and help that individuals and families may need.

Funding from Feeding Britain meant that we could provide food and activities during the Summer Playscheme, without having to take part in the means tested HAF scheme, meaning all the users could take part on an equal footing.

The Projects involvement with the Food Provision has meant we’ve been invited to take part in further partnerships around issues affecting Public Health and wider food provision across the City. The mutual benefit of this kind of work is that we are better able to signpost the families of our users appropriate agencies and organisations as necessary.

The Trustees are satisfied that the Project continues to meet the needs of the local community, in terms of providing access to Play in a busy, ever changing, inner city environment.

ST. ANDREWS PLAY ASSOCIATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Public Benefit

The Charity believes it has provided a public benefit during the year through areas outlined below and can confirm it is a social inclusion project. The Play Association aims to ensure that all play provision meets the appropriate levels of social, physical, intellectual, creative, cultural and emotional needs of all children and young people. The Play Association aims to promote integrated play opportunities.

Financial review

The statement of financial activities shows a total income of £118,363 and expenditure of £126,462.

This provides a deficit of £8,099, added to the brought forward reserves of £37,986 and the charity carries forward reserves of £29,887. The reserves carried forward show £29,487 of unrestricted funds and a carried forward balance of £400 of restricted funds.

Reserves Policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months of normal expenditure. The trustees estimate normal ongoing annual costs to be between £90,000 and £100,000 per year.

The charity had closing reserves of £29,887 as at the 31 March 2024 down from £37,986. Therefore, the trustees believe the charity is just above a position of comfort to deal with any financing problems. Of these closing reserves there is £400 of restricted funds held.

The trustees estimate that reserves at a level of approximately £30,000 would ensure that, in the event of a significant drop in funding, they would be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. It is desirable for the charity to maintain this level of reserves however due to the nature of the funding and economic circumstances the charity has not been able to maintain this level of reserves throughout the year.

Overall the trustees are content with the level of reserves at the year-end and wished they had greater assets at its disposal. However, because of the nature of funding it has made it impossible to build up the level of reserves that the charity would consider to be sufficient.

The present level of funding is adequate to support the continuation of the Play Project for the short term. However, the trustees would like to build up reserves as a protection against any potential future reductions in funding.

Restricted Funds

The charity received income of £88,689 from our principal funders Leicester City Council to run playground activities throughout the year, and Summer Playscheme. This has been classified as a restricted fund. Expenditure of £88,689 was made in the year. £16,400 was received as Household Support but only £16,000 of costs were incurred, therefore we have reported a surplus of £400 which is carried forward to be spent next year..

Unrestricted Funds

During the year the charity reported a deficit on its general unrestricted funds of £8,499 added to the brought forward reserves of £37,986. This means we carry forward £29,487 to be spent in future years.

Risk Assessment

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.

ST. ANDREWS PLAY ASSOCIATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

Our contract has been extended with Leicester City Council (LCC) until 2025 but will not be renewed in its current form beyond the 31 March 2025.

We were informed by LCC that our core funding is likely to cease in its entirety in 2025 and we need to find ways to become self-sustainable.

We have always received core funding so are exploring ways to exist. We continue to look for savings where we can. Other than that, the playground is as popular as ever within the community and is reflected with the continuing new user registrations and the support we have received from our local community, past and present users, local school and other community groups and agencies.

As a result of the withdrawal of Local Authority funding after the end of the next Financial Year, we will be required to seek alternative funding and generate additional income to maintain the current level of service. We have entered into a communal bid to the National Lottery Reaching Communities fund, with four other Playgrounds and will be looking at individual initiatives for the building, to subsidise current running costs.

Structure, governance and management

The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year were: Anthony Cusack Daniel Ashman Oliver Speller

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.

The trustees report was approved by the Board of Trustees.

Anthony Cusack

Trustee Dated: 21 November 2024

ST. ANDREWS PLAY ASSOCIATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST. ANDREWS PLAY ASSOCIATION

I report to the trustees on my examination of the financial statements of St. Andrews Play Association (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 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act 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 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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.

Thomas Mayfield BA FCA

Mayfield & Co 2 Merus Court Meridian Business Park Leicester LE19 1RJ

Dated: 21 November 2024

ST. ANDREWS PLAY ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
7,481
105,089
Other trading activities
4
5,012
-
Investments
5
781
-
Total income
13,274
105,089
Expenditure on:
Charitable activities
6
21,773
104,689
Total expenditure
21,773
104,689
Net income/(expenditure)
(8,499)
400
Transfers between funds
-
-
Net movement in funds
8
(8,499)
400
Reconciliation of funds:
Fund balances at 1 April 2023
37,986
-
Fund balances at 31 March 2024
29,487
400		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
112,570
5,450
94,689
5,012
2,924
-
781
74
-
118,363
8,448
94,689
126,462
15,135
99,810
126,462
15,135
99,810
(8,099)
(6,687)
(5,121)
-
(5,121)
5,121
(8,099)
(11,808)
-
37,986
49,794
-
29,887
37,986
-		 Total
2023
£
100,139
2,924
74
103,137
114,945
114,945
(11,808)
-
(11,808)
49,794
37,986

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

ST. ANDREWS PLAY ASSOCIATION

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Current assets
Debtors
12
155
Cash at bank and in hand
40,386
40,541
Creditors: amounts falling due within one year
13
(10,654)
Net current assets
Net assets excluding pension liability
The funds of the charity
Restricted income funds
14
Unrestricted funds		 2023
£
£
1,875
64,322
66,197
(28,211)
29,887
29,887
400
29,487
29,887		 £
37,986
37,986
-
37,986
37,986

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 21 November 2024

Oliver Speller

Trustee

Company registration number 05366564 (England and Wales)

ST. ANDREWS PLAY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

St. Andrews Play Association is a private company limited by guarantee incorporated in England and Wales. The registered office is Playbuilding (Thirlmere Gardens), 111 Walnut Street, Leicester, LE2 7LA.

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” (“FRS 102”) 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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.

ST. ANDREWS PLAY ASSOCIATION

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 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.

1.7 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measures at their settlement value with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method.

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.

1.8 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.

ST. ANDREWS PLAY ASSOCIATION

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

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.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
-
-
Donations and legacies
7,481
105,089
7,481
105,089
Donations and gifts
Local Giving
-
-
-
-
Grants receivable for core activities
Leicester City Council Main
Grant
-
88,689
Henry Smith
580
-
Heating Grant
2,000
-
Household Support Fund
-
16,400
Feeding Britain
2,067
-
Other
2,834
-
7,481
105,089		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
-
500
-
112,570
4,950
94,689
112,570
5,450
94,689
-
500
-
-
500
-
88,689
-
88,689
580
-
-
2,000
-
-
16,400
-
4,000
2,067
3,350
2,000
2,834
1,600
-
112,570
4,950
94,689		 Total
2023
£
500
99,639
100,139
500
500
88,689
-
-
4,000
5,350
1,600
99,639

ST. ANDREWS PLAY ASSOCIATION

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

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Ball court receipts 655 160
General fundraising 4,357 2,764
Raising funds 5,012 2,924
Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 781 74

5 Income from investments

ST. ANDREWS PLAY ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on charitable activities

Unrestricted
funds
Restricted
funds
2024
2024
£
£
Direct costs
Staff costs
11,024
63,140
Water rates and charges
-
998
Light and heat
2,000
1,652
Telephone
-
551
Repairs and maintenance
-
940
Cleaning materials and
waste
-
287
Insurance
-
1,875
Materials, food,
refreshments, consumables
and equipment
6,167
16,000
Training
-
-
Trips and activities
2,582
-
Postage, stationary and
photocopying
-
384
Publicity and subscriptions
-
540
Sundry costs
-
-
21,773
86,367
Share of support and governance costs (see note 7)
Governance
-
18,322
21,773
104,689
Analysis by fund
Unrestricted funds
21,773
-
Restricted funds
-
104,689
21,773
104,689		 Total
Unrestricted
funds
Restricted
funds
2024
2023
2023
£
£
£
74,164
-
68,923
998
-
295
3,652
-
2,088
551
-
493
940
-
1,315
287
-
434
1,875
-
1,651
22,167
10,664
6,039
-
-
244
2,582
3,971
-
384
-
443
540
-
200
-
500
-
108,140
15,135
82,125
18,322
-
17,685
126,462
15,135
99,810
21,773
15,135
-
104,689
-
99,810
126,462
15,135
99,810		 Total
2023
£
68,923
295
2,088
493
1,315
434
1,651
16,703
244
3,971
443
200
500
97,260
17,685
114,945
15,135
99,810
114,945

7 Support costs allocated to activities

Unrestricted Total
funds
2024 2023
£ £
Governance 18,322 17,685

ST. ANDREWS PLAY ASSOCIATION

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

7
Support costs allocated to activities
Governance costs comprise:
Staff costs
Independent examiner fees
Sundry costs
Bookkeeping fees
8
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		 (Continued)
2024
2023
£
£
14,507
13,853
2,460
2,460
-
17
1,355
1,355
18,322
17,685
2024
2023
£
£
2,460
2,460		 (Continued)
2024
2023
£
£
14,507
13,853
2,460
2,460
-
17
1,355
1,355
18,322
17,685
2024
2023
£
£
2,460
2,460
17,685
2023
£
2,460

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year and none of them were reimbursed for travelling expenses (2023- £nil).

One trustee, Daniel Ashman, was also employed on a part time basis to cover staff shortages on projects. He was paid £2,325 during the year.

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Playground facilities 8 4
Management and administration 1 1
Total 9 5
Employment costs 2024 2023
£ £
Wages and salaries 87,462 81,999
Social security costs 1,209 777
88,671 82,776

ST. ANDREWS PLAY ASSOCIATION

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

10 Employees

(Continued)

No employee is allocated entirely to management: an assessment of part of each employee's involvement in management has been used as the basis for determining the above apportionment of costs for governance costs.

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

Remuneration of key management personnel

Remuneration of key management personnel
2024 2023
£ £
Aggregate compensation 29,014 27,707

11 Taxation

The charity is exempt from tax 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 its charitable objects.

12
Debtors
Amounts falling due within one year:
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2024
£
155
2024
£
2,034
8,620
10,654		 2023
£
1,875
2023
£
26,181
2,030
28,211

ST. ANDREWS PLAY ASSOCIATION

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

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
Leicester City Council Main Grant - 88,689 (88,689) - -
Household Support Fund - 16,400 (16,000) - 400
- 105,089 (104,689) - 400
Previous year: At 1 April 2022 Incoming Resources Transfers At 31 March
resources expended 2023
£ £ £ £ £
Leicester City Council Main Grant - 88,689 (93,810) 5,121 -
Reaching People - 4,000 (4,000) - -
Feeding Britain - Food Pantry - 2,000 (2,000) - -
- 94,689 (99,810) 5,121 -

15 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 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
General Unrestricted 37,986 13,274 (21,773) - 29,487
Previous year: At 1 April 2022 Incoming Resources Transfers At 31 March
resources expended 2023
£ £ £ £ £
General funds 49,794 8,448 (15,135) (5,121) 37,986

ST. ANDREWS PLAY ASSOCIATION

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

16 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Current assets/(liabilities)
29,487
400
29,487
400
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 March 2023:
Current assets/(liabilities)
37,986
-
37,986
-		 Total
2024
£
29,887
29,887
Total
2023
£
37,986
37,986

17 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

One trustee, Daniel Ashman, was also employed on a part time basis to cover staff shortages on projects. He was paid £2,325 during the year.

18 Post Balance Sheet Events

The trustees believe that the Charity remains a going concern, with a healthy balance sheet as at the 31 March 2024.

However, the Charity has been informed that they will no longer be funded by the local authority beyond the 2024/25 financial year.

This loss of funding will represent approximately 75% of the income funds the Charity receives.

Therefore, this loss of funding would represent a significant loss of funding that would undoubtedly affect the scope of work the Charity could undertake beyond the following financial year.

Despite this the trustees are confident that they could in the longer term find ways of adapting practices and services and generate sufficient income to enable the Charity to continue its operations.

However, the trustees acknowledge at the date of the signing of the accounts this potentially impacts the going concern status of the Charity going forward.