Charity registration number 1118242 Company registration number 5626767 (England and Wales) GREETS GREEN COMMUNITY ENTERPRISES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GREETS GREEN COMMUNITY ENTERPRISES LEGAL AND ADMINISTRATIVE INFORMATION Trustees F Bibi WLyn A Hussain A Khan R Mal-Rushforth Secretary N Bayliss Charity number 1118242 Company number 5626767 Princlpal address 157 Wood Lane West Bromwich West Midlands B70 9PT Registered office 157 Wood Lane West Bromwich West Midlands B70 9PT Independent examiner Bache Brown & Co Limited Swinford House Albion Street Brierley Hill West Midlands DY5 3EE
GREETS GREEN COMMUNITY ENTERPRISES CONTENTS Page Trustees report Independent examineffs report Statement of financial adivities Statement of financial posilion Notes to the financial statements 8-17
GREETS GREEN COMMUNITY ENTERPRISES 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 a¢¢ordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's tgoverning documentl, the Companies Act 2006 and "Accounting and Reporting by Charities= Statement of Recommended Pradice 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). Objectives and actlvities The provision of recreational facilities for the Greets Green Area of the Metropolitan Borough of Sandwell. The facilities will be provided for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities. Other objectives". The protection or conseNation of the environment. The provision of public health facilities and childcare. The promotion of public safety and prevention ofcrime. Public benefit The trustees have paid due regard to guidan issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Significant activities and achiev8ments against objectives Our main activities and who we try to help are described within our objectives and activities [above]. All our charitable activities focus on the provision of support and facilitie5 ft)r local people. Wood Lane Community Centre The Wood Lane Community Centre is at the heart of our communty fa¢ing work and is a facility that is truly run by the community- for the community. LoGal people come into the Wood Lane Community Cenlre for a variety of reasons for example: children and young people attending nursery and holiday play schemes, families attending social events, NHS patients attending information and support seminars, people attending meetings or training courses and children and adults taking part in structured activities to increase their confidence or fftness or to leam new skill5. Happy Days Nursery In April 2016 we launched our new. dedicated childcare and Early Years Education setting. 'Happy Days Nursery,. Located within a self-¢ontained facility within the community centre and with a Capacity of 20 places, the nursery (Ofsted rated, 'Good with several outslanding features.), provides high quality care and early learning for pre- school age children from local families. Since its launch, the nursery has continued lo grow its reputation as an excellent. community based setting - popular wilh children and parents alike.
GREETS GREEN COMMUNITY ENTERPRISES TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Community action and the support of our volunteers As in previous years, throughout 202312024 GGCE benefited from the support and dedication of the time of the people willing to give their time on a voluntary basis. This included slaff who whilst employed gave many hours of additional time to help support a number of activities and events within the community centre. Over the year we met many new members of the local community through a broad range of interests and activilies. We hope to see the continued support from the community in the years ahead and ensure that residents of Greets Green and Lyng are central to everything we do. strategic development: Having launched our original strategy in 2017, GGCE has continued to grow the income base of the charity through a more focussed approach to seNce development and delivery. In 2022 we updated and renewed our strategy to ensure the organisation conlinues to progress its aims and aspirations of the strategic plan which primarily, are focused upon strengthening both the organisations financial independence and the serVIS offers delivered for and with local people. Importantly. the review has enabled the Trustees to refresh the vision and mission of the charity as follows.. Our wlon is.. To improve the quality of lrfe for the local community. Ourmission is.. To work in partnership to make a positive impact on the lives of local people. It also gave the Trustees the opportunity to r&define and set out the Core values and principles of the charity. These have been agreed as being.. - to be accountable to and representative of the local community to act commercially and with entrepreneurial flair to be creative and innovative in all that we do to operate in a sustainable way - to value our staff, trainees and volunteers and, - to work to 'improve the quality of life for the local community, Finally, the strategic review resulled in the following strategic priorities being agreed going forward. These are.. -to develop community led project5 and services based on an understanding of local needs and aspirations -to be financially self-sustaining through the developmenl of physical assets and social enterprise -to develop and manage the organisation effectively Our aspiration is to build upon our existing strengths and to develop new opportunities for gr¢)wth and reach in the support we provide for loGal people and, in doing so lo secure the long term financial stability and sustainability of GGCE and the Wood Lane Community Centre. During 2018119, the Board of Trustees took the decision to bring the managemenl of our commercial premises in house, taking over from the previously contracted external management agency. The aim of this major undertaking was realised to ensure that all elements were being managed to a high standard, to reduce expenditure and agency fees and to be then to offer the tenants an improved cuslomer service and better value for money. During the year major investment on the fencing al Great Bridge Business Park was undertaken, offering greater security for tenants on this site.
GREETS GREEN COMMUNITY ENTERPRISES TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review During the year the charity's net funds increased by £1,962. 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 six month's expenditure. The Trustees considers that most of the charity's funds are to be spent in the short term so there are few funds long term in investment. The trustees have assessed the major risks to which the charily is exposed and are satisfied that the systems are in place to mitigate exposure to the major risks. Structure, governance and management The charity is a company limited by guarantee. incorporated on 17 November 2005 and registered as a charity on 22 January 2007. The company was established under a Memorandum ofAssociation which eslablished the objects and powers of the charitable company and is governed under its Articles ofAssociation. In the event of the company being wound up members are required to contrtbute 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 Ihe financial statements were= F Bibi WLyn A Hussain A Khan R Mal-Rushforth MrJSBagr (Resigned 27 September 2023) Recmitment and appointment of tnistges The trustees shall be appointed or re-appointed by the members in general meetings following a nomination process detemiined by the trustees to ensure that the truslees as a group possess the range of skills, experience and competencies required to govern the charity. The trustees will also refleGt the people the charity works with and seeks to benefit. Every trustee after appointment must reaffirm their willingness to act as a charity trustee of the charity before he or she may vote at any meeting of the trustees. All trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the aGcounts. None of the trustees has any beneficial interest in the company. All of the truslees are members of the company and guarantee to contribute £1 in the event of a winding up. Organisational structure Greets Green Community Enterprises has a management committee which is made up of the trustees as well as the Chief Executive.
GREETS GREEN COMMUNITY ENTERPRISES TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 F Bibi Trustee 7 October 2024
GREETS GREEN COMMUNITY ENTERPRISES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREETS GREEN COMMUNITY ENTERPRISES I report lo the Iruslees on my examination of the financial statements of Greets Green Community Enterprises (the chariiy) for lfr,e year ended 31 March 2024. Responsibilities and basis of report As the trusle8s of the charity land also its directors for the purposes of company lawl you are responsible for Ihe preparation of the financial slalements in accordance with the requirements of the Companies Act 20C6 Ilhe 2006 Act). Having satisfied myself that the financial slalements of the charity are not required to be audit under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's rinancial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l arn a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any rnalerFal respect= accounting records were not kept in respect of the charity as required by section 386 of the 2008 Act., or Ihe financial statements do not accord with those records- or the financial statements do 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 exarnination.. or the financial statements have not been preparea in accordance with the melhods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK aTr Republic of Ireland IFRS 102). I have no concerns and have come acros5 no other matters in connection with the examination to which attention should be drawn in this repart in order lo enable a proper understanding of the financial statements to be reached. Bache Brown & Co Limited Swinford House bion Street Brierley Hill West Midlands DY5 3EE Dated: 7 October 2024
GREETS GREEN COMMUNITY ENTERPRISES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restrictsd funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Totsl 2024 2023 Notss Income and endowments from: Donations and legacies Charilable activities Investments Other income 11,924 11,924 117.613 70.206 92,172 19.304 19,304 135,403 52,059 87,723 117.613 70.206 92,172 135.403 52,059 87.723 Total income 279,991 11.924 291,915 275,185 19,304 294,489 Expenditure on: Charitable aclivities Heading #ac982 252,127 37,826 289,953 251,927 16,149 268,076 Totsl expenditure 252,127 37,826 289,953 251,927 16.149 268.076 Net incomellexpenditurel and movement in funds 27.864 (25,902) 1.962 23,258 3,155 26,413 Reconciliation of funds: Fund balances at 1 April 2023 314,693 394,439 709,132 291,435 391,284 682,719 Fund balances at 31 March 2024 342,557 368,537 711,094 314,693 394,439 709,132 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Continuing activities.
GREETS GREEN COMMUNITY ENTERPRISES STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Noles Fixed assets Tangible assets Investments 13 14 358,853 375.332 358,854 375.333 Current assets Debtors Cash at bank and in hand 15 7,146 375,900 6.868 350,738 383,046 357.606 Creditors: amounts falling due within one year 16 130,8061 {23,807} Net current assets 352.240 333,799 Total assets less current liabilities 711,094 709,132 Net assets excluding pension liability 711,094 709,132 The funds of the charily Restricted incoffle funds Unrestricted funds 18 368.537 342,557 394.439 314,693 711.094 709,132 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 lo accounting records and the preparation of financial ststements. The members have nol required the cornpany lo 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 lo companies subject lo the small companies regime. The financial statements were approved by the trusteès on 7 October 2024 FBI Trustee Company rcgistration number 5626767 (England and Wales}
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infomiation Greets Green Community Enterprises is a private company limited by guarantee incorporated in England and Wales. The registered otTice is 157 Wood Lane, West Bromwich, West Midlands, B70 9PT. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Articles ofAssoication, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a PubliG Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 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. The principal accounting policies adopted are set out below. 1.2 Golng concern At the timè of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operalional existence for the foreseeable future. Thus the trustees ¢ontinue to adopt the going conrn basis of accounling in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the truslees 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. 1A 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 reipt. Other donations are recognised once the charity has been notified of Ihe donation. unless performan conditions require deferral of the arnount. Income tax reGoverable in relalion to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or olherwise rf 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 Ireated as a contingent asset.
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continuedl 1.5 Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannol be fully recovered. and is reported as part of the expenditure Costs of generating funds comprise the costs associated with altracting voluntary income and Ihe costs of trading for fijndraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its aotivities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governan costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity. Cosls are allocated beeen the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. 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 lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings Plant and machinery Fixtures, fittings & equipment 20A straight line basis.. 15tyA reducing balance basis- 150/0 reducing balance basis: The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the Carrying value of the asset. and is recognised in the ststement of financial activities. 1.7 Fixed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity Controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from ils activities. 1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indicalion that those assets have suffered an impairment loss. If any suGh indication exists. the recoverable amount of the asset Is estimated in order to determine the extent of the impairment loss (rf any). 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) 1.10 Financlal instruments The charity has elected to apply the provisions of Seclion 11 'Basic Financial Instrument5, 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 liabiltlies 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. 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 Ihe 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 classrfied as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially re¢ognised at transaction price unless the arrangement constilutes a financing transaction, where the debt instrument is measured at the present value of the fulure payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequenlly 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 al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of finaneial liabilitles Financial liabilities are derecognised when the charity's contractual obligalions expire or are discharged or cancelled. 1.11 Employee benefits The cosl of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination 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. Critical accounting estimates and ludgements In the applirAtion of the charit5 accounting policies, the trustees are required lo 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 experien and other factors that are Considered to be relevant. Aclual resulls may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to aGcounting 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 fijture periods. 10-
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Restricted funds 2024 Restrictsd funds 2023 Grants receivable for core activities 11,924 19,304 Income from charitable activities Unrestricted funds 2024 Unrestricted funds 2023 Community activities 117,613 135,403 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Rental income Interest receivable 55.736 14,470 47,457 4,602 70,206 52.059 Other Income Unrestricted Unrestricted funds funds 2024 2023 GiflAid 92,172 87,723 11
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Heading
ac982
2024 Heading
ac982
2023 Direct costs Staff costs Depreciation and impairment Activities undertaken direclly 202,801 16,791 5,377 184,484 18,007 8,143 224,969 210.634 Share of support and govemance costs {see note 8) Support Governance 59,946 5.038 52,552 4,890 289,953 268,076 Analysis by fund Unrestricted funds Restricted funds 252,127 37,826 251,927 16,149 289,953 268,076 Support costs allocated to activities 2024 2023 Rates Insurance Heat and light Repairs Cleaning Travel Slalionery & telephone Consultancy Bad debts Computer running costs Governance costs 3,046 8,396 21,288 9.304 2,006 74 5.891 6.815 243 2,883 5.038 2.295 7,178 12,164 11,682 1,927 32 7,385 7,045 185 2,659 4.890 64.984 57.442 Analysed between: Charitable activities 64.984 57,442 12-
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities (Continued) 2024 2023 Govemance costs comprise: Audit fees Bank charges 4,920 118 4,775 115 5.038 4.890 Net movement in funds 2024 2023 The net movement in funds is ststed after chargingl{crediting)'. Fees payable for Ihe independent examination of the charity's financial statements Depreciation of owned tangible fixed assets 4.920 16,790 4,775 18,007 10 Trustses 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: 2024 Number 2023 Number Chief executive Administration and support Childcare Cleaning 10 Total 12 13 Employment costs 2024 2023 Wages and salaries 202,801 184,484 There were no employees whose annual remuneration was more than £60,000. 13-
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees Icontinuedl Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 40,595 39,662 12 Taxation As a ¢harity, Greets Green Community Enterprises is exempt from tax on income and gains falling within section 505 of the Taxes Acl 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to rts charitable objects. No tax charges havè arisen in the Charity. 13 Tangible fixed assets Land and bulldlngs Plant and machlngry Fixtures. rittlng5 & equlpment Total Cost At 1 April 2023 Additions 445,048 4,450 106.996 310 556,494 310 At 31 March 2024 445,048 4,450 107,306 556,804 Depreciation and impairment At 1 April 2023 Depreciation charged in the year 122,080 8,901 3,968 72 55.113 7,817 181,161 16,790 At 31 March 2024 130,981 4,040 62,930 197,951 Carrying amount At 31 March 2024 314,067 410 44,376 358.853 At 31 March 2023 322,968 482 51,882 375.332 14-
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Fixed asset inveslments Other investments Cost or valuation At 1 April 2023 & 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 2024 2023 Other investments comprise: Notss Investments in subsidiaries 20 15 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Amounts owed by subsidiary undertakings Prepayments and accrued income 5,264 4,207 998 1,663 1,882 7.146 6.868 16 Creditors: amounts falling due within one year 2024 2023 Notes Other taxation and social security Govemment grants Trade creditors Other creditors Accruals and deferred income 3,255 12,715 1.749 9.131 3,956 2,219 14,958 2,743 17 3.887 30.806 23,807 17 Govemment grants Deferred income is included in the financial statement5 as follows: 2024 2023 Deferred income is included within.. Current liabilities 12.715 14,958 Movements in the year.. 15-
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Government grants (Continued) Deferred income at 1 April 2023 Resour¢e5 deferred in the year 14.958 (2.243) 22,053 (7,095) Deferred income at 31 March 2024 12,715 14,958 18 Restrictsd funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Community Centre and Community Development Wood Lane Community Centre Wood Lane Community Centre Impovements Other Equipment 64,879 231,001 70,258 28,301 9,681 (23.406) (6.300) (2,011) (6.109) 51,154 224,701 68.247 24,435 2,243 394,439 11,924 (37.826) 368,537 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 Community cent and Community Development Wood Lane Communtty Centre Wood Lane Community Centre Impovements Other Equipment 49,022 237.301 72.269 32,692 16.649 (792) (6,300) (2,011) (7.046) 64,879 231,001 70,258 28,301 2,655 391,284 19,304 (16,149) 394.439 16-
GREETS GREEN COMMUNITY ENTERPRISES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl(liabilities) 28,546 330,307 358,853 314,011 38,229 352,240 342,557 368,537 711.094 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investments Current assetsl(liabilities) 31,086 344,246 375,332 283,607 50,192 333,799 314,693 394,439 709.132 20 Subsidiaries Details of the charity's subsidiaries at 31 March 2024 are as foll¢)ws'. Name of undertaking Registsred offjce Nature of business Class of Yo Held shares held Direct Indirect Greets Green Community England Enterprises (Development) Limited Property renlal Ordinary 100.00 17-