REGISTERED COMPANY NUMBER: 05480342 {England and Wales) REGISTERED CHARITY NUMBER: 1112613 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 FOR WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD Xeinadin Grimsby 28 Dudley Street Grimsby N E Lincolnshire DN31-2AB
WEST MARSH DEVELDPMENT TRUST ASSOCIATION LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 Page Rèport of the Trustees Indopendent Examiner's Roport statement of Financlal Activities Balance Sheet Notes to the Financial Statemènts Detalled Statement of Financial Activities 10
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024 The trustees who are also directors of Ihe charity for the puwoses of the Companies Act 2006. present their report with the financial slalemenls of the charity for the year ended 30th June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charilies.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iraland (FRS 1021 {effecliv& 1 January 2019}. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is conlrolled by ils governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 20CK. REFERENCE AND ADMINISTRATIVE DETAILS Rcgistered Company number 05480342 (England and Wales) Reglstered Charity number 1112613 Registered offlce Wesl Marsh Community Centre Beeson Street Grimsby N E Lincolnshire DN312QH Trustees S W Webster Committee Member W M C C W Baker Volunteer A Clark Volunteer P Singleton Volunteer R W Smith Gardener L Hudson Volunteer Company Secretary S W Webster Independent Examiner Xeinadin Grimsby 28 Dudley Street Grimsby N E Lincolnshire DN312AB Approved by order of the board oflruslee5 on 28th March 2025 and signed on ils behalf by.. S W Webster- Trustee Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD Independent examlner's report'to fhe trsO$ OT West Marsh Development Trust Association Ltd ('th Company. I report to th& charity truslees on my examination of the accounts of the Company for the year ended 30th June 2D24. Responsibilities and basis of report As the charity's trustee5 of the Company land also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wilh the requirements of the Companies Act 2006 ('Ihe 2008 Act,). Having satisfied myself that the accounts of th6 Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitys accounls as carried oul under Section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examinalion I have followed the DireGlions given by the Charity Commission under Section 145{5) Ib) of the 2011 Act. Independent oxaminerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a mèmber of a listed body. I can confirm Ihat l am qualified lo undertake the èxamination because l am a member of Ihe Institute of Chartered Accounlanls in England and Wales, 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 lo believe- accounting records were nol kept in respect ofthe Company as required by Section 386 of the 2006 AGI: or the accounts do nol accord with those records,, or the accounts da not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination: or the accounts have not been prepared in accordance with the melhods and principles of the Statemenl of Remmended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Roporting Slandard applicable in the UK and Republic of Ireland {FRS 1021). 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 lo enable a propel understanding of the accounts to be reached. M. ft<K-4 Mr Mark Stothard FCA Xeinadln Grimsby 28 Dudley Street Gtimsby N E Lincolnshire DN31 2AB 28th March 2025 Page 2
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2024 30.6.24 Totsl funds 30,6.23 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Charitable aGtivltles Charitable Aclivities 12,200 207,197 219,397 159,841 Other Iradinu'adiiiilies Investment income 47.782 687 19,806 150 687 Total 60,669 207,197 267,866 179,797 EXPENDITURE ON Charitable activities Charitable Activities 74.460 189,166 263,626 251,145 NET INCOMEI{EXPENDITUREI {13,7911 18,031 4.240 171,348) RECONCILIATION OF FUNDS Tolal funds brought forward (1,0831 21.354 20,271 91,619 TOTAL FUNDS CARRIED FORWARD (14,8741 39,385 24,511 20,271 The notes form parl of these financial statements Page 3
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD BALANCE SHEET 30TH JUNE 2024 30.6.24 Total funds 30.6.23 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets 11,755 11,755 18,534 CURRENT ASSETS Debtors Cash at bank 45 69,540 45 22,373 29,136 40,404 29,181 40,404 69,585 22,418 CREDITORS Amounts falling due within one year 10 155,8101 (1,019) 156,829) (20,681} NET CURRENT ASSETSJ{LIABILITIES) {26,6291 39,385 12,756 1,737 TOTAL ASSETS LESS CURRENT LIABILITIES (14,874) 39,385 24.511 20,271 NET ASSETS 114,874 39,385 24,511 20,271 FUNDS Unrestricted funds Restricted funds 12 114,874) 39,385 {1,083} 21,354 TOTAL FUNDS 24,511 20,271 The charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for th& year ended 30th June 2024. The mernbers have not required the cotllpany to obtain an audit of ils financial slatemenls for Ihe year ended 30th June 2024 in actxrdance with Section 476 of the Companies Act 2006. The Irustees acknDwledge their responsibilities for la) ensuring that the charitable company keeps accounting records Ihal comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial slalements which give a true and fair view of the state of affairs of the charitable company as al the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which OtheISe comply with the requirements of the Companies Act 2006 relating to tinan¢ial slatements, so far as applicable lo the charitable company, Ib) These financial statements have been prepared in accordance with the provisiong applicable lo charilable cornpanies subjecl lo Ihe small CmpanieS regime. The financial statements were approved by the Board of TrLislees and aulhorised for issue on 281h March 2025 and were signed on its behalf by., S W Webster- Trustee The notes form part cif these financial statements Page 4
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo 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),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, .and. the Companie8 Act 2006. The financial stslemenls have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, il is probable that the income will be received and the amount Can be measured reliably. Expendlturè Liabililies are recognised as expenditure as soon as there is a legal or conslructive obligation committing the charÉty to that expenditure, il is probable that a transfer of economic benefits will be required in settlement and the amounl of the obligation can be measured reliably, Expenditure is accounled for on an accruals basis and has been classified (Jnder headings that aggregate all cosl relaled to the category. Where cosls cannol be directly atlribuled to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order lo write off each asset over ils estimated useful life. Plant and machinery Fixiures and fittings CompLrter equipment 20Q/o on cost 100/0 on cost 250/0 on cost Taxation The charity is exempt from corporation tax on ils charitable activities. Fund accounting Unrestricted funds be used in accordance with the charitablo objectives al the discretion of the Iru81ees Restricted funds can only be used for particular restricted purposes wilhin the objects of the chartty. Reslrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Furlher explanation of the nature and purpose of each fund is included in the notes to the financial slalements. Hire purGhase and leasing commitsnents Rentals paid under operating leases are charged to the Slalement of Financial Activities on a slraighl line basis over the period ofthe lease. OTHER TRADING ACTIVITIES 30.6.24 30.6.23 Fundraising event Sports facilities Roorn hire 3,901 24,352 19,529 2,231 1,250 16,325 47,782 19,806 Page 5 continued...
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2024 INVESTMENT INCOME 30.6.24 30.6.23 Interest receivable - trading 687 150 NET INCOMEI(EXPENDITUREI Net incomel(expenditure) is slated afler chargingl{credilinÈ): 30,6.24 30.8.23 Depreciation - owned assets Olher operating leases 7,129 4,032 7,128 3,150 TRUSTEES, REMUNERATION AND BENEFITS There were no Iruste&s' remuneration or other benefils for the year ended 30th June 2024 nor for the year ended 30th June 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 30th June 2024 nor for the year ended 30th June 2023. STAFF COSTS The average monthly number of employees during the year was as follows.. 30.6.24 30.6.23 Development worker Adminislrative worker Support workers No employees received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricted fund Restricted fund Total fLtnds INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 159,841 159,841 Other trading aclivilies Investment income 19,806 150 19,8( 150 Total 19,956 159,841 179.797 EXPENDITURE ON Charitable activities Charitable Activities 57,545 193,60Q 251,145 NET INCDMEIIEXPENDITURE} {37.589} (33,759) {71,348) RECONCILIATION OF FUNDS Total funds brought forward 36,506 55,113 S1,619 Page 6 continued...
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund Restricted fund Total funds TOTAL FUNDS CARRIED FORWARD (1,083) 21.354 20,271 TANGIBLE FIXED ASSETS Fixtures and fillings Plant and machinery Compuler equipment Totals COST At 1 st July 2023 Addltions 2,203 52,161 350 5,882 60,248 350 At 301h June 2024 2,203 62,511 5,882 60,596 DEPRECIATION Al 1s1 July 2023 Charge for year 967 440 37,199 5,219 3,546 1,470 41,712 7,129 At 30th Juno 2024 1,407 42,418 5,016 48,841 NET BOOK VALUE Al 30th June 2024 796 10,093 866 11,755 Al 30th June 2023 1,236 14,962 2,336 18.534 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.24 30.6,23 Olhei debtors 45 45 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.24 30.6.23 Bank loans and overdralts (see note 11) Social security and other taxes other croditors Accrued expenses 36,147 1,020 15,705 3,957 1,01g 15,705 3,957 56.829 20,fj81 LOANS An analysis of the maturity of loans is given below: 30.6.24 30.6.23 Amounts falling due within one year on demand.. Bank overdrafts 36,147 Pago 7 continued...
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 30TH JUNE'2024 12. MOVEMENT IN FUNDS Net movement in funds At 30.6.24 At 1.7.23 Unrestricled funds General fund (1,083) {13,7911 114,874} Restrlcted funds Restricted Fund 21,354 18,031 39,385 TOTAL FUNDS 20,271 4,240 24,511 Net movement in funds, included in the above are as follows.. Incoming resources Resour8 expended Movement in funds Unrestricted funds General fund 60,669 (74,460) 113,7911 Restricted funds Restricted Fund 207,197 {189.166} 18,031 TOTAL FUNDS 267.866 (263.6261 4,240 Comparatives for movement in funds Net movement in funds Al 30.6.23 Al 1.7.22 Unrestricted funds General fund 36,506 (37,5891 11,083) Restricted funds Restricted Fund 55,113 (33,759) 21,354 TOTAL FUNDS 91,619 {71,348) 20,271 Comparative net movement in funds, included in the above are as follows.. Incomino resource8 Resources expended Movement in funds Unrestri¢ted funds General fund 19,956 (57,545} <37,589) Restricted funds Reslricted Fund 159.841 {193,600) (33,759) TOTAL FUNDS 179.797 (251,145) (71,3481 Page 8 continued.,.
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2024 12. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months comblnèd position is as follows.. Net movement in funds Al 30.6,24 Al 1.7,22 Unrostrlcted lunds General fund 36,506 (51,380) <14,874) Restrlcted funds Restricted Fund 55,113 {15,728) 39,385 TOTAL FUNDS 91,619 (67,108} 24,511 A current year 12 months and prior year 12 months combined net movement in funds, included in tho above are as foll¢)ws: Incoming resour$ Resources expended Movement in funds Unrestricted funds Gener81 fund 80.825 (132,005) {51,380) Restricted funds Restricted Fund 367,038 (382,766) (15,728) TOTAL FUNDS 447,663 (514,7711 {67,108) 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30th June 2024. 14. PRIOR PERIOD ADJUSTMENT The bank balance at 30 June 2D23 was overslated due to a cut off error. The bank balance al 30 June 2023 has reduced from £82,402 as originally staled lo now show the CDrrecl closing balance of £22,373 with the difference of £60,029 being posted to Ihe appropriate expenses incurred in that period. Page 9
WEST MARSH DEVELOPMENT TRUST ASSOCIATION LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2024 30.6.24 30.6.23 INCOME AND ENDOWMENTS other trading actlvltles Fundraising events Sports facilities Room hire 3,901 24,352 19.529 2,231 1,250 16,325 47,782 19,806 Invostment income Interest receivable trading 687 150 Charltable activitios Granls 219,397 159,841 Total Incomlng resources 267,866 179,797 EXPENDITURE Charitak)le activities Wages and expenses Othei operating leases Rates and water Insurance Light and heal Telephono and postage Repairs and renewals Advertising and promotional Sundries Charitable activilies Plant and machinery Fixtures and fittings Computer equipment 13,823 4,032 1,269 2,344 10,388 1,183 29.219 703 4,235 187,726 7,050 3,150 2,109 7,087 1.744 17,185 5,25S 3,343 193.600 441 5.218 1.471 5.219 1,471 262,053 249,616 Support costs Finance Bank charges 133 89 Governance costs Accounlancy and legal fees 1,440 1,440 Total resources expended 263,626 251,145 Net incomellexpendlture) 4,240 171,3481 This page does not form part of the statutory financial stalemenls Page 10