LANGWORTHY CORNERSTONE ASSOCIATION LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Charity No. 1114637 Company Registration No. 05626422 Langworthy. Cornerstone Association
LANGWORTHY CORNERSTONE ASSOCIATION LIMITED INDEX PAGE NUMBER CONTENTS TRUSTEES ANNUAL REPORT INDEPENDENT EXAMINERS REPORT io STATEMENT OF FINANCIAL AcfiviTIES li BALINCE SHEET 12 SfATEMENT OF CASH FLOWS 13-21 NOTES TO THE ACCOUNTS FOR MANAGEMENT PURPOSES ONLY 22 INCOME AND EXPENDITURE ACCOUNT
worth rsto Report of the Trustees for the year ended 31" March 2024 The Trustees present their Annual Directors, Report and financial statements of the Charity for the year ended 31, March 2024 which are also prepared to meet the requirements for a Directors, Report and Accounts for Companies Act purposes, The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in accorda nce with the Financial Reporting Standard applica ble i n the UK a nd Republic of Ireland l FRS 102) (effective l January 20191. Objectives and activities The purposes of the Charity are the promotion and preservation of good health of persons in the areas of benefit,. the promotion and advancement of education and training in general and in such a way as to reflect the personal, family, social and community needs of those living in the area of benefit, with due regard to equalities a nd diversities The provision of activities and service5 to improve health & wellbeing through the delivery, development and facil itation of activities. The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Charity's aims and objectives, in planning future activities, and setting the policies for the year. The Charity furthers its charitable purposes for the public benefit through our overall aim being to 'Improve the Health and Wellbeing of the People of Salford and especially those of Seedley and Langworthy" We work in partnership with a range of individuals and other organisations to provide as a centre a varied programme of classes, services 2nd activities to improve health and wellbeing, education and employability, as well as attracting further resources to expand and improve our offer. We also support and help develop hea Ith & wellbeing activities in the centre which are initiated by individuals and organ isations in consultation with us. -we carry out regular research and collect feedback to ensure that there is a good match between what is on offer and what the needs of the area are. Services and activities are generally free or low cost, LCA centre users come from a wide range of backgrounds and age groups, and we work to encourage the centre being accessed by all groups. LCA has also been working in partnership with other organisations to develop more opportunities attracting young people and families from a diverse range of backgrounds including language classes, computer classes, lunch clubs, advice, arts & crafts and volunteering. -All the activities and services outli ned above del iver publ ic benefit to the residents of Salford. and more specifically 750A OF our participants are residents of Seedley and Langworthy, which is listed as one of the most deprived wards in Salford on the IMD {Indices of Multiple Deprivation) scale.
wort ersto Cor A review of our achievement5 and performance We are one of the five Community Anchors for Salford, which is a recognition of the work of the centre over manv vears; this i ncl udes the Social Prescribi ng Project as pa rt of Salford Wellbeing Matters managed by Salford CVS. As part of the work at LCA, we employ our own Community Connector ICC), whose role is to connect people with local community activities and services to help improve their health & wel 5being. Referrals come from local GPS and other health professionals and the project aims to show reduced demand on local health services in the future. The Cornerstone saw the departure of a long-term Chief Officer after 15 year5, followed by a period of uncertainty change which impacted on staff morale. We took steps to support our staff through this diff icult period by engaging several HR tools and services to support staff going forward. Along with the appointment of a new and experienced Chief Officer returning stability and structure to the organisation enabling our team to collectively grow through mutual support and care, a professional team we are proLJd of. We commenced April 2023 with renewed vigour, a new outline of staffing structure and the Board working towards a new Board structure to develop subgroups to focus on operational activity and feed up strategically to the board on a bi monthly basis. These groups include a Finance subgroup, HR subgroup, EDI subgroup, Policies and Procedures subgroup, Community Forum subgroup, Marketing & Communications subgroup and a Governance subgroup - all subgroups are formed, some remain static (HR, Finance, EDI, Governance, Policies & Procedures) and some disband as activity develops and becomes sustainable (Matrix Style Management). We continue to host Zumba, Yoga, Tai Chi, Karate, Zumba, Learning Activities, Computer classes, Active Seniors, Men's Health activities, Citizens Advice, General advice, Salford Disability Forum, Job Club, as well as ongoing support for people wishing to gain experience through volunteering. We have developed a robust Volunteering programme, which the board has committed funds for a training programme to support the development of the Volunteers engaged with opportunities medium to longer term tc develop job readiness. We continually achieve the KP15, targets set by our main commi5510ner NHS, ICB, Our Healthy Food Project which includes a Cafe continues support Warm Places, free breakfasts, reduced prices meals to support people in need, a holiday club with children's activities a nd food provided. Food Cycle providing free Vegetarian meals for up to 40 people in house in a bistro style setting and we host two sessions per week for up to 80 local people, The Cornerstone accommodates a GP Surgery, a Family Hub including Early Help and a Children's Nursery, a range of Voluntary Organisations and Social Enterprises under one roof, which really adds value to the overall offer of LCA through the social prescribing model of practice.
rth rsto Financlal review We continue to pay rent and service charges on 58% of the building rather than the 84Yo that we paid previously. However, this 58Yo will be split with Living Well, a Mental Health project hosted in the large office supported by a £300,000 investment by ICB/NHS, A tenancy agreement is under way and will be ready to share in January 2025. This will provide much needed income to 5UPPOrt the Centre's sustainability. The Family Hub accommodation c05ts126Yo) are now directly supported by Salford City Council and the GP practi pays costs separately (16%). We share the costs of security and these costs are allocated according to the same proportions. However, these costs are due to be increased in April 2025. A new three-year contract has just been awarded to the Centre by ICB/NHS which provides security until 2028, albeit we are unaware of the exact offer until January 2025. We were also pleased to receive grants from a number of funders during the course of the year. This income provided project funding for several projects of benefit to local residents e.g Warm Hub, Women into Visual Art funding from Whose Art, Whose Culture, Men's Health, Cooking classes. In addition to our planned income and expenditure, our accounts also reflect a loan to cover an historic phone bill which we have cleared and used the loan to support the debt and considered this to be good housekeeping and we pay a new phone company monthly for phone usage- this supported cash flow and we were able to afford the monthly payment and rid the Centre of a bundle of 40 defunct phones. We are able to report an overall surplus for the year as a result of diligent handling of cash flow. We now have a formal lease with NH5 Property Services and a sub lease in development with the Living Well project. In January 2025 we intend to employ a new full time Centre Manager to a55iSt the CEO and a Finance Office for two days. Investment powers and policy To minimise the risk to our finances, we hold three interest bearing deposit accounts during the period, one with CAF Bank Ishawbrookl, one with Charity Bank and one with the Ecology Building Society, Unity Trust to maximise the cover provided by the Financial Services Compensation Scheme. ReseNes Pollcyl Development Funds and issues of ongolng concern The balance held in unrestricted reserves on 31, March 2024 was £16,492 of which £155,836 are free resenies after allowing for funds tied up in tangible fixed assets. Trustees always consider the need for LCA to hold sufficient reserves to maintain the financial security of the orga n isation. The designated fund reserves are al located as follows: Designated funds to allow for an orderly wind up of the organisation if necessary and to cover contractua l obligations, especially redundancy costs.
Lan orn worthy rston Designated funds to take account of possible variations in our service charge, designated fund5 to cover any funding gaps and to allow time to source new finances. A further fund to help cover the ongoing reduction in earned income, and to help the organisation plan and develop new and revised servlces 2024-2025. The Reserves Policy and Development Fund decisions will be reviewed and updated annually by the Trustees. Risk management On an annual basis, the Trustees have conducted a review of the major risks and system5 have been established to mitigate those risks, which include the above Reserves Policies and the ongoing land documented) negotiation with the parties concerned to mitigate these risl<s. Plans for Future Periods Our current Health & Wellbeing contract has been renewed with NHS/ICB will expire Mar 2028. As such the Trustees continue to focus on how the Cornerstone can continue to deliver high quality activities that contribute to the health and wellbeing of residents and meet the KPIS in LCA contractual arrangements with ICB. As the Centre settles into a new period of development after the re launch Oct 2023, we plan to capitalise on renewed vigour created by the re launch and the Centre has become much busier. We conlinue to consult with staff and the community through quarterly census (Community survev and we have amended the forms to accommodate Equality & Diversity and authenticity of the community members who use the building considering, the dynamic shift in the demographic and ethnicity of people who live in the area. The Trustees are aware of considerable changes to the malceup of the local area, and remain committed to welcoming residents of all aEes and bacl<grounds and celebrating ihe increased diversity of the communities we serve. Structure, Governance and Management Langworthy Cornerstone Association ILCAI is a company limited by guarantee governed by its th Memorandum and Articles of Association dated 9, October 2012 (amended S June 2016). It is reEi5tered as a charity with the Charity Commission and 15 constituted under a trust deed dated 9 October 2012 (amended 6" June 20161. The Constitution is being developed presently to meet the demands of the community as time shifts so do socio economic trends. Ih We continue to recruit a specific board membership to complement the expertise and leadership we have presently, increase accountability and capitalise on the ongoing local and regional support towards the centre. Appointment of Trustees As set out in the Articles of Association trustees are elected annually by the members of the charitable company attending the Annual General meeting and serve for a period of 3 years,
Trustee Induction and training New trustees will be familiar with the work of the charity. New trustee5 will receive/be directed to: The memorandum and articles; minutes of previous meetings,. the last annual accounts Iwith advice on their content}. Charity Commission and Companies House advice and regulations and The Charity Commission pack for new trustees. New trustees will also be given one-to-one advice on particular aspects of LCA'S work, depending on their knowledge and area of expertise. Cc)mpl lance trai ning required including Safeguarding, GDPR training. Organisation The Board of Trustees administers the charity. The Board meets bi monthly with a sub group meeting prior or following the board meeting dependent on need. However, there are some sub groups which meet continually for example the Finance sub group, HR sub group. The Chief Executive Officer is appointed by the Trustees to manage the strategic direction of the Charitv. A Centre Coordinator is employed to support operational activity 3t.ihe Centre whereas the planned new Centre Manager will sit between the CEO and Centre Coordinator for matters that cannot be dealt with by the Centre Coordinator and are not relevant for strategic management. The aim in 2025 is to lever the Centre into a position of independence through applications for contracts to deliver services, as opposed to applying for grant funding and the Centre Manager will free up the CEO to be able to do this. Related parties and co-operation with other organisatlons None of our Trustees receive remuneration or other benefit from their work with the Charity, Any connection between a Trustee or Senior Manager with any service providers must be disclosed to the fu51 board of Trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported, Travel expenses are paid to Trustees. Reference and administrative information Charity Name.. Langworthy Cornerstone Association Charity Number: 1114637 Company Registration Number.. 05626422
Lan rthy orners D5rectors and Trustees The Directors of the charitable company (the Charity) are its Trustees for the purpose of Charity Law. The Trustees and Off icers serving during the year and since the year end were a5 follows., Key management personnel: Trustees and Directors Geraldine Stone Chai r Sheila Battersby Treasurer Ruth Abou Rached Vice Chair Erica Kinni bLJrEh Doreen Burns Dorothy Robinson Alexis Sharna Aiden Richards John Wright Sam Palmer (resigned January 20241 (resigned January 20241 resigned August 20231 (resigned November 20231 {appointed November 20231 {appointed November 2023, resigned October 2024} (appointed November 20231 (appointed January 2024) {appointed January 20241 l(ate Crossan Beverley Fletcher Company Secretsry Chlef Executive Offlcer Beverley Fletcher Registered Office Langworthy Cornerstone 451 Liverpool Street Salford M65QQ Independent Examlners Community Accountancy Service Limited The Grange Pilgrim Drive Beswicl< Manchester M113TQ
ton Bankers Co-operative Bank plc l Ba Iloon Street Manchester M60 4EP Ecology Building Society 7 Belton Road Silsden l<eighley BD20 OEE Charity Bank Fosse House 182 High Street Tonbridge TN9 IBE Shawbroolc Bank Limited/CAF Lutea House Warley Hil l Busine55 Parl< The Drive Great Warley Brentwood CM13 3BE Unity Trust Bank plc Four Brindley P lace Birmingham BI 2JB Solicitors Weightmans LLP 100 Old Hall Street, Liverpool L3 9QJ
worth rsto Trustees, responslbllltles In relatlon to the flnanclal statements The Charity Trustees {who are also the Directors of Langworthy Cornerstone Association for the purposes of Company Lawl are responsible for preparing a Trustees, annual report and financial statements in accordance with applicable law and United l(ingdom Accounting Standard5 Iunited Icingdom Generally Accepted Accounting Practice), Company law requires the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of reSoUrs, including the income and expenditure, cf the charitable company for that period. In preparing the financial statements, the Trustees are required to: Select suitable accounting princi ples and then apply them consistentlv; Observe the methods and principles in the applicable Charities SORP,. Make judgments and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departure5 that must be dlsclosed and explained in the financial statements. Prepa re the financial statements on a going concern basis unless it is appropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charlty and taking reasonable steps for the prevention and detection of fraud and other irregularities, By order of the Board of Trustees Geraldine Stone Chair th Date: 13 December 2024
Independent examiner's report to the trustees ofLANGWORTHY CORNERSTON ASSOCIATION LIMITED sl I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages l O to 21. Respective responsibilities of trustees and examiner The trustees (who are also the directors of the company for the pUoseS of cornpany law) are responsible for the preparation of die accounts. The trustees consider that an audit is not required t'or this year undei. section 144(2) of tlie Chwities Act 2011 (the 2011 Act) and that ali indepeiideiit exnination is needed. The charity is required by cornpany law to prepare accrued accounts and I am qualified to undertalce the examination by being a qualified member of The Association of Chartered Certified Accountants. FIaving satisfied myself that the charity is not subject to audit wider company law and is eligible for independent examination, it is my responsibility to: examine the accounts undcr section 145 of the 201 l Act ' to follow the procedures laid down in the general Directions given by thc Chlty Commission under section 145(b) of the 201 l Act. and to state whether particular matters have com¢ to my attentio Basis of independent examiner's report My examination was carried out in accordance with the gcncral Directions given by the Charity Comtnission. An examination includes a review of the accounting records kept by thc charity 2nd a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and sccking cxplanations from you as twstccs Gonccrning any such matters. The procedures undertaken do not provide all the evidence that would be requAred in an audit and consequently no opinion is given as to wlicthcr thc accounts present a 'true and fail. view, and the report is limited to those mattcrs set OLIt in the statemenl below. Independent examiner's statement In conneclion witli my examinalion, no matter has come to my attention: (l) which giives me reasonable cause to believe that in any material respect the requirements lo keep accounting records in accordance with section 3 86 of the Companies Act 2006. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006, ' and with the melliods and principles of the Slatement of Recommended Practice: Accounting and Reporting by Charities have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. AM King fccA Commiinity Accountancy Service Ltd The Grange, Pilgi'im Diive, BeswicK ManchGstcr, Ml13TQ th Datc: 13 Dcce]nbcr 2024
LANGWORTHY CORNERSTONE AssoaATION LIMITED 1D STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Incorne and Ex inco oratin diture Account Totsl Funds Totsl Funds Year Ended 31 P41arch Year Ended 31 2024 March 2023 Unr95tiictgd Restrlcted Funds Funds Further Detalls Income from: Donations and logacres Chatable Acllvltlès Other Trading Acllvliies Investment Income Total {3) {4} (5} 530 437,516 21,315 5,161 464.522 530 459.526 21,315 5,181 486,532 1.000 473,OS4 17,999 2,078 494,131 22,010 22,010 ExpÈndltur& on: Raising Funds Charitable ActTvilies Other Total 161 161 161 19,504 462,267 I,iio 482,881 19,504 463,975 I,iio 484.589 14,456 404,978 2.496 421,930 1,708 1,708 Net Incomel{expendlturel 18,3591 20,302 1,943 72,201 Translers between funds 116) Nat movgm&nt In fund8 18.3591 20,302 1.943 72.201 ReGonciliation of funds Total fund5 brought forward Total funds carried forward 1161 1161 352,851 334,492 1,370 21,672 354,221 356,164 282.020 354,221 The 81atemenl of financial aclivlties includes all galns aml losges cognised in year. All income and expenditure derlv9 from contlnulng actlvltles. The note5 on pages 13 10 21 form part of these accounts.
LANGWORTHY CORNERSTONE ASSOCIATION UMITED 11 BALANCE SHEET AS AT 31 MARCH 2024 Com Re istration Number: 562 422 2024 2023 Notes Fixed assets.. Tangible assets Total fixed assets 8,656 8,65S 1,917 1,917 Currènt assgts: stocks Debtors Cash al Bank & in Hand Total current assets 1121 1131 1,800 48,789 397,409 447,998 1,800 12,765 445,468 460,033 Llabllltles.. Creditors.. knounls falling due within one year {141 100,490 107,729 Net current asseis or liabilitles 347,508 3S2,304 Total a858ts less current liabilities 356,164 354.221 Total net assets or liabllFties 356,164 354,221 The funds of the Gharty: Restricted Income funds 1161 21,672 1,370 Unrestricted incorne funds {161 334,492 352,851 Total charity funds 356,164 354,221 For the period in question the company was entltled to the exemptlon conferred by sectlon 477 of the Companies Act 26, and that no notlce has beèn deposited undèr sectlDn 476 In relatlon to its accounts for the financial year,. and the directors acknowledge their responsibilities for.. complying with the requirefflent5 of the Companie5 Act 2006 wlth respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companles subject to the small companles, reglme, Approved by the trustees on 13th December 2024 Alexls Shama Treasurer The notes on pages 13 to 21 form part of these accounts.
LANGWORTHY CORNERSTONE ASSIxiATION MED 12 Stat&rnent of Cash Flows lor tha year endlng 31 March 2024 Reconciliation of net rnovement in funds to net cash flow from operating artivities Y&ar Endgd Year Ended 31 March 31 March 2024 2Q23 Net movement In funds Add back depreciation Deduct Investment income Decreasellincreasel in stocks Decreaselllncreasel in debtor5 Increase/ldecreasel In Creditors 1,943 3,558 15,181) 72,201 1,430 12,078) 136,0241 17,239) 187,e85 (84,123) Net cash used in operatlng acifvltles 142,9231 175,115 Cash flows from invèstmènt activitiès.. Interest Purchase of fKed asset 5,161 110,2971 2,078 11,1721 Nèt cash provided by inv6sting activities 15,136) 906 Increaselld8creas81 in cash ancs cash equivalènts during the year 148.059) 176,021 Cash and cash equivalents brought forward 445,468 269,447 Cash and cash equivalents carried ford 397.409 445,468
LANGWORTHY CORNERSTONE ASSOCIATION LIMITED 13 Not85 to thg accounts for the year ended 31st March 2024 l. Accountlng pollcles lal Basis of preparation and as5es5ment of golng concern The account5 (financial Statements) have been prepared under the historical cost Cpnvention with items reco6ni5ed at cost or transaction value Unle otherwise stated in the relevant note5 to these accounts. The financial ststements have been prepared In ac¢ordance with the Statement of Recommended Prdctice: Accounting and Reportlng by Charities preparing thÈlr accounts In accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021 issued on 1st January 2019 and ihe Financial Reporting Standard applicable in the United Kingdom and Republlc uf Ireland IFRS 1021 and the charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainlie5 about the charity's ability to continue as a going concern, Ib) Fundg structuro Restricted funds are funds whlch are to be used In accordance with 5peclfic re5trlctions imposed by the donor or trust deed. There are 3 restricted funds, Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherartce of the charitable objects. Unrestritted funds include (Jesignated funds where the trustees, at thelr discretion, have created a fund for a speclflc purposè. Further detslls of each fund are dlsc105ed In note 16. Icl Income recognition All income is recognised once the charlty has entltlement to the Income, It Is probable that the Income will be recelved and the Èmouftt of Income recelvable can be measured reliably. Donatlong are recognised when the charlty has been notlfied In wrltlng of both the amtsunt and settlement date. In the event that a donation is subject to conditions that require a level of perforrnance before the charity is entitled to the funds, the income is deferred and not recognised until either those condition5 are fulty met, or the fulfilment of those conditions 15 wholly within the control of the ch8rity and it is probable that those conditions will be fulfilled in the reporting perlod. Interest on funds held on deposit is included when recelvable and the amount can be Measured rellably by the charlty,. thls 15 normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Idl Expendlture Recognltlon Liabilities are recognised as èxpenditure as soon 3S there Is a legal or constructlve obllgatlon commlttlng the charltyto that expendltLtre, It Is probable that 5ettlernent will be required and the amount of the obli8ation can be measured reliablv. All expenditure 15 accounted for on an ac¢ru815 basis. All expenses including support costs and governance costs are allocated or apportioned to the applltable expenditure headlngs, For more informatlon on th15 4ttrlbutlon refer to note Ifl below, lel Irrecoverable VAT Irrecoverable VAT 15 charged against an irrecoverable VAT expenditure heading. If) Allocatlon of support and g¢>veinan¢e c05ts Support costs have been allocated bètween governance tosts and other support costs. Governance costs comprlse all costs involving the public accountablllty of the ¢harlty and Its compliance wlth regulatlon and good practlce. These cost5 include costs related to independent examination ad legal fees together with an apportionment of overhead and support costs. Governance costs and support costs relatlnB to charltable actlvltles have been apportloned based on type of expense. The allocation of support and governance costs is aald In note 8. Igl Costs of rnising funds The costs of raislng funds consists of attivity cost5, café food and advertlsing and marketlng. Ihl Charltable A¢tlvlt5es Costs of charitable attivitie5 include governance cost5 and an apportionment of support costs as shown in note 7.
LANGWORTHY CORNERSTONE A550CIATION LIMITED 14 Notss to the accounts for the year ended 31st March 2024 111 Tanglble fixed assets and depreclatlon All assets costlng more than £500 are capitalised and vElued at h15torical cost, Depreciation is charged on the followSng basi5: Computers Llffice Equipment 33.33% on cost 25% on cost lil Reallsed galns and10$5e5 All gain5 and losses are taken to the Statement of Flnan¢ial Activities as they arlse. Reallsed gains and losses on investments are calculated as the difference between sales proceeds and thelr opening carrylng value or thelr purchase value if acqulred subsequent to the f irst day of the flnanclal year. Unrealised gains and losse5 are calculated as the dlfference belween the fair value at the year end and their varying value. Realise(l and Un311$e investment galns and1055e5 are combined in the Statement of Flnanclal Activities, Ikl Penslons The charity currently adminlsters contributions to a penslon scheme on behalf of individuals, The charity has no liabillty beyond making it5 contributlons and paylns acros5 the ded4JCtions for the employee's contrlbutions, 111 Debtor5 Trade and other debtors are reeognlsed at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Im) CreLlltors and provlslons Credltors and provisions are recognised where the charity has a present obligation resultlng from a past event that wlll probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estlrnated reliably. Creditors and provisions are normally recognlsed at their settlement amount after allowlng for any trade discounts due. 2. Related party trangatttlons and trustees, expenses and remuneration The trustee5 all glve freely their time and expert15e wtthout any form of remuneration or other beneflt In cash or klnd 12023= £nill. Expenses paid to the trustees in the year totalled £nll12023.. £1051. This cornprlsed 012023.. 11 trustee relmbursed for travel expenses, 3. Donatlons and Lagacles Unrestricted Restricted Totsl Funds Toial Funds Year Ended Year Ended Year Ended 31 March 31 March 31 March 2024 2024 2023 Year Endeql 31 March 2024 t)ongllons 530 530 530 530 1,000 1,000 Previous reporting period Unrestrlcted Rèstricted Total Funds Year Endèd Yèar Ended 31 March 31 March 2023 2023 Year Endod 31 March 2023 Donation8 1,000 1,000 1,000
LANGwoirrHY CORNERSTONE ASSOCIATION UMITED 15 Notes tD the accDunts for the year ended 315t March 20Z4 4. Income from charltable actlvi¢ies Unrestrlcted Restrfctad Total Funds Total Funds Year Ended Y9ar Ended Year Ended 31 March 31 March 31 March 2024 2024 2023 Year Ended 31 Maroh 2024 Room and Facilities Rentsl Acllvilies Income Class Fees General grant8= NHS saord Salford CVS Anchor Investment Salford 3rd Sector Consortium Restricted grants.. Henry Smith SalFord CVS Great Places Houslng SaEford CVS Summer Activities Salford CVS Household Support Fund Salford Community Grants 67,445 67.445 84,673 3,873 2,940 18,666 18,666 302,678 48,727 302,678 48,727 292,591 50,119 1,370 21,710 300 21,710 300 8,395 4.QOO 25,093 473,054 437,516 22,010 459,526
LANGWORTHY CORNERSTONE ASSOCIATION LIMITED 16 Notes to the awounts lor the year ended 31st March 2Q24 4, Income Irom charltable attlvltles Prevlous reportlng perlod Unrestrfcted Restricted Total Funds Y8ar Ended Year Ended 31 March 31 March 2023 2023 Year Ended 31 March 2023 Room and Facilities Rental Aclivili68 Incom& Class Fees General grants.. NHS Saiford Salford 3rd Sector Consortium ReslriGled grants: Henry Smith Salford CVS Summèr Actlvlttes Salford CVS Household Support Fund Saword Community Grants 84,673 3,873 2,940 84,673 3,873 2,940 292,591 50,119 292,591 50,119 1.370 8.395 4,000 25.093 38.858 1,370 8,395 4,000 25,093 473,054 434.196 5. Income from other trading £ctivitles Unregtrlctod Rèstrlctèd Total Funds Total Funds Year Ended Year Ended Year Ended 31 March 31 March 31 March 2024 2024 2023 Year Ended 31 March 2024 Café Income 21.315 21,315 21,315 21,315 17.999 17.999 Prevlous reportlng perlod Unrestricted Rostricted Total Funds Year Ended Year Ended 31 March 31 March 2023 2023 Year Ended 31 March 2023 Café Income 17,999 17,999 17,999 17,999
LANGWORTHY CORNERoNE ASSOCIATION LIMITED 17 Note5 to the accounts for the year ended 3tst March 2024 6. Expendlture Community Year Ended Year Endod Centre 31 March 31 Narch Actlvltlos 2024 2023 Expenditure on ralslngfunds: Cafe Food Advertising and marketlng Website Subscriptions 15,894 120 1,692 1,798 19,504 15,894 120 1,692 1,79 19,504 12,734 631 1,091 14,456 Expenditure on charltable actlvltles.. Employment Costs Freelance Costs Recruitment Training Acllvilie8 Donations Paid DBS Checks NHS Recharges Gifts Water Room Hire Travel Expenses Rèpairs and Mainl8nance Bad Debts Minor Equipment and Rental Rates Soflware and IT Irrecovorable VAT Bank Charg88 Telephone Cleaning and Security Insurance Govornance Costs Post, Printing & Stationery Depreclatlon 243,095 1,401 243.095 1,401 396 2,519 30,065 263,256 4,810 2,519 30,065 2,117 24,704 140 201 (16,247) 18 44,473 676 15,526 18 44,473 676 15,S26 15,277 4(k8 1,412 1,583 18,000 5,958 2,419 2,181 2,672 135 4,486 44,703 2,533 16,930 5,237 1,430 404,978 1,526 3,384 113,6861 4.163 1.628 2,462 29,476 374 13671 47,136 2,813 35,094 8,245 3,558 483,975 1,526 3.384 113.6861 4,163 1,628 2.462 29,476 374 13671 47,136 2.813 35,094 8,245 3,558 463,975 Other expendlture: Miscellarbeous 1,110 I,iio 484,589 1,110 I,iio 484,589 2.496 2.496 421.930 Restrlcted funds Unrestricted fund5 1,708 482,881 484,589 77.791 344,139 421.930
LANGWORTHY CORNERSTONE ASSOCIATION LIMITED 18 Notes to thè actounts for thè yèar ended 315t Marnh 2024 7. Analysls of expendlture on charltable activities A5 per note 6. 8. Allocation of governance and support costs The breakdown of support costs and how these were allocated between EDvernance arbd other support cost5 15 shown below.. General Support Governance 1,500 Total 2024 Basis of apportionment 1,SOD type ofexpense 61 type ofexpense 12,447 ty ofwp¢nsg 1,256 tyFe ofenSe 19,83D type ofexpen8e 35,094 Accountancy Fees Interest Pald Book-kegping Charge Payroll Bur82u Chargés Professional Fees 61 12.447 1,256 19,830 33,594 1,500 Previous reportlng perlod Gènoral Support Govornancg 1,580 Total 2023 BaGls of apportlonment 1,580 type of expense 4,011 Lype of expense 1,260 type of expense 7,734 type of expense 860 type of expense 335 type of expense 185 type ol expen 5 type of expen8e 16,930 Accountancy Fees BoDk-keeping Charges Payroll Bureau Charges Professional Fees Support & advice Penalties TNslee Expenses Accountancy Support 4,011 1,280 7,734 860 335 185 965 15,165 1,765 9. Analysis of staff costs Ygar Ended Year Ended 31 March 31 March 2024 2023 Wages and Salarles Agency Costs Redundancy Social Security Costs Pension Costs 219,092 2,314 231,182 5,494 12,1D9 9,580 243.095 12,793 13,787 263,256 Charitable aclivllla Support costs 243,095 263,256 243,095 263,256 The 8verage number of employees during the year was 11 Iprevious year.. 13). The charity considar8 Its key management personnel comprfses the trust86s and Chl&f Exocutivo Officer. The total employment benefits, including employer penslon contrlbutlons of the key rnanagement personnel were £40,573 (previous year.. £38,683), No employee has benefits in excess of £60,CKJO {previous year.. none). 10. Indopgndont Exarnlner Feè5 Year Ended Year Ended 31 March 31 March 2024 2023 Ind8pèndent examlnation f¢&s Other Accountancy 5ervlces 1,500 1,580 965 2,545 1,50D
LANGWORThY CORNERSTONE ASSOCIATION LIMITED 19 No¢gS to the account8 for th& yg8r onded 31st Narch 2024 11. Tangible Flxed Assets Furniture & Office Equlpmgnt )mputgrs Total Cost Al 1 April 2023 Addltlon5 Al 31 March 2024 12,432 37,476 10,297 47,773 49,908 10.297 60,205 12,432 Depreclatlon Al 1 )rI1 2023 Charge for Year At 31 March 2024 11,737 347 12,084 36,254 3,211 39,465 47,991 3,558 51,549 NET BOOK VALUE At 31 March 2024 Al 31 March 2023 8,308 1.222 8,656 1,917 695 12. stocks 2024 2023 Café Food Stocks 1,800 1,800 13. Analysis of debtors 2024 2023 Debtors Prepayments 41,103 7,686 48,789 9,174 3,591 12,765 Debtors 3nd prepayments related to unrestritted funds both In 2024 and 2D23. 14. Creditorn.. amounts falllng due within one year 2024 2023 Credlr$ Overspent Cash Short-term compensatgd absence8 (holiday pay) Other creditor8 and accruals Deferred Income 98.347 62 105.898 31 2,081 1,800 100,490 107,729 15. Dofèrrèd Income Deferred incorne comprises grants re¢eiwJ in advanoe. Balance as al 1 April 2023 Amount released to income earned from charitable activities Amount deferred In yèar Balance at 31 March 2024
LANGWORTHY CORNERSTONE ASSOCIATION UMITED Notes to tho accounts for the year ended 31st March 2024 16, Analysis of charilable lund5 Analysls of movemonts In unrgstrlcted funds Balance at 1 Aprll 2023 Incomlng Resources Resourc6S Expend&d Balante at 31 Mar¢h 2024 Transfers General Fund De8ignated Fund 237,351 115.500 352,851 464,522 1482.8811 154,50DI 54,50D 164,492 170,WO 334,492 464,522 1482,8811 Previous reporting peri¢xl Balance at I April 2022 Incomlng Resources Resour¢e$ Expended Balance at 31 March 2023 Transfers Ganeral Fund Designated Fund 131,717 110,000 241,717 455,273 1344,1391 15,5001 5,500 237,351 115,500 352,651 455.273 1344.1391 Name of unrestrlcted fund: G6neral Fund Deslgnated Fund Doscrlptlon. nature and purpose of the fund The 'Yree reserves" after allowing for all designated funds For future d05ure costs, redundancy provision and contractual obligations Analysis 01 rn0¥9mgnts in restricted fund8 Balance at 1 April 2023 Incoming ResourGe¥ Resources Expended Balance at 31 March 2024 Transfers Henry Smith Salford CVS Groat Places Housing 1,370 11,370) 138) 13DO) 11,708) 21,710 300 22,010 21,672 1.370 21,672 Previous reporting period Balance at 1 April 2022 Incoming Resources Resources Expended Balance at 31 March 2023 Transfers NHS Salford Henry Smith Salfoid CVS Summer Activities Salford CVS Household Support Fund Salford Community Grants Salford CVS Addres8ing Unmet Needs 8,222 18,2221 1,370 8,395 4,0(K) 25,093 1,370 18,3851 14.0001 125,0931 132,0811 177,7911 32,081 40,303 38,858 1,370
LANGWORTHY CORNERSTONE ASSOCIATION UMITED 21 Notes to the accounts foi the year ended 31st March 2024 16. Analysls of charltable fvnds Analysls of movements in restritted funds Narne of restricted fund: Henry SmSth Salford CVS Great Place5 Housing De8crlptlon, nature and purpose 01 thè fund for a trip lo Gullivers World lo support an employee post for Well Belng Matters food for WIVAArts workshops 17. Anatysls of net asset5 between fund5 Unrestrlcted fund5 Deslgnated fund8 RestriGted funds Total 2024 Tangible fixed assets Cash al bank and in hand Olher nel current a8$elellliabililiesl Total 8,656 20S,737 149,9011 164,492 8,658 397,409 (49,9011 356,164 170,C0 21,672 170,000 21,672 Previous reporting period Unrestricted Dosignatgd fund8 funds R8Stricted fund$ Total 2023 Tangible fixed assets Cash at bank and in hand Other nel current 888e18llllablll8) Total 1,917 328,598 (93.1641 237,351 1.917 445,468 193,1641 354,221 115,500 1,370 115,500 1,370 18. Financlal Instruments The ChatY only has financial asset5 and liabilities of a kirKI that qualify as basic financial in8lrumenls. Basic financlal instruments are initially recognised on a transaction value and sub8equenUy mea8ufftd at thèir sdllemenl value rith the exception of bank knans which are 8ub8equently m8asur8d at an amortised cost uslng the effective Interest method. 19. Operatlng leases The total of future minimum lease payrnents under non-cancell8ble operating leases are.. Equlpment Leases 2024 Equlpment Leases Payable within one year Payable between 2 and five years 14,785 25,874 20. Contin8ent Liabilities at the date of signing these accounts, Langworthy Comer5tone made a voluntary dlsc105ure of underpaid VAT to the value of £36,2651£29,476 up to 31st March 20241. HMRC may Impose penalties of between 30% and 11)O%. The charlty is awaiting the outcome of this dlsclosure.
LANGWORTHY CORNERSTONE ASSOCIATION UMITED 22 In¢ome Expendlturg Account Year Ended Year Ended 31 March 31 March 2023 2022 Income Donations Investment Income General grants.. NHS Salford Salford CVS Anchor Investment S31ford 3rd Sector Consortium Room and Facllltles Rental Activitles Income Class Fees Restricted grants., Henry Smlth Salford CVS Great Places Houslng Salford CVS 5Mmer Activlties Salford CVS Household Support Fund Salford Communlty Grant5 Café Income Totrdl Income 530 5,161 2,078 302,678 48,727 292.591 50.119 84,673 3,873 67.445 18,686 1,370 21,710 300 8.395 4,0(K) 25,093 17,999 494.131 21,315 488,532 Expenditure Activities Cafe Food Advertlsing and marl(eting Website Subscription5 Employment Costs Freelance CDSts Recruitment Trainlng Donatlons Pald DBS Checks NHS R2ch3rge5 Gift5 Water Room Hire Travel Expenses Repairs and Maintenance Bad Debt5 Minor Equlpmeni and Rental Rate5 Software and IT Irrecoverable VAT Bank Charges Telephone Cleanlng and 5eEurity Insuyance Governance Costs Post, Printing & Stationery Depreciation MlscellaneoLJ5 Total Expendlture 30,065 15,894 120 1.692 1,798 243.095 1,401 24,7(I4 12.734 631 1.091 263.256 4.810 2,51g 2,117 18 44,473 676 15.528 201 116,247) 635 15.277 1,526 1.412 1,583 18.000 5,058 2.419 2,181 2.672 135 4,486 44,703 2.533 16,930 5,237 1,430 2,496 421.930 {13.688) 4,163 1,628 2.462 29,476 374 136n 47.136 2,813 35,094 8.245 3.558 1.110 484.589 SurplLLs/ldeflclt for ye)rl 72,201