1 MOORE Charlty reglstratlon number 1122618 (England and Walos) Company registration number 06227100 PEN GREEN CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 PEN GREEN CENTRE LEGALAND ADMINISTRATIVE INFORMATION Trustees J L Armstrong K J Bartley Prof. C Pascal RJOrr R Scott A Prodger F Dewsbery A K Cooper Secretary M Palazzo Charity number (England and Wales) 1122618 Company number 06227100 Registered offlce Pen Green Research Base Rockingham Road Corby Northamptonshire NN17 1AG Auditor Moore Oakley House Headway Business Park 3 Saxon Way W8St Corby Northamptonshire NN18 9EZ PEN GREEN CENTRE CONTENTS Page Trust8as' r8POrt Statsment of trustees, r8sponsibilltles Indep8nd8nt auditors report statement of ffinancial activltles Balan￿ sheet Staternent of cash flows 10 Notas to the financlal stat8m8nts PEN GREEN CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordan￿ with the accounting policies set out in note 1 to the financial statements and cornply with the charity's goveming 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 1021" (effective 1 January 2019). Objectives and activities The objectives of the charity are.. To asSISt in the advancement of education and training for children and their families, staff and others working in the fields of eady years. family support and community development. To undertake research of early years and faTnily policy and practice, to disseminate such findings both nationally and intemationally. The charity takes advantage of grants available to ensure it reaches its objectives. The trustees have given careful consideration lo the public benefit guidance issued by the Charity Commission in deciding what activities the charity should undertake. The main activities undertaken lo further the charty's purposes for the public benefit were as follows: 1. During the year the charity has continued to be part of 8 Tri-party Sv￿COntract agreement be￿Oen the charity, the University of Hertfordshire Higher Education Corporation and Pen Green Research, Training and Development Base IPGRBI. Courses delivered include: FdA'. BA {Hons} Top UP, and MA programmes in Early Childhood and Education (Integrated Working with Familles and Children). All courses are provided by Pen Green Research. This agreement is in place until 31 August 2026. The high level of successful completion and qU81ifications attained by students who have followed these courses have undoubtedly benefited the public good by increasing the supply of qualified practitioners in the early years and childcare sector. The research und8rtak8n by students on advanced studies is publish and disseminated. 2. In the year the charity has continued Ihe delivery of the Early Years Educator Level 3 Apprenticeships in association wilh The Recalvi Enterprise. trading as ApprentI￿ShIp Connect. This initiative enables students from a broader range of educational backgrounds to pursue work-place based qualifications to the benefit of the children, families and communities that their work-place serves. 3. In November 2022 Pen Green Centre was offered a grant for Early Years Stronger Practice Hubs activity for the period November 2022 to December 2024. The contract was extended from December 2024 until April 2025 and then extended further until 31 March 2026. The East Midlands Early Years Slronger Practice Hub is part of a national ne￿Ork of Eady Years Stronger Practice Hubs established by the Department for Education {DfE) in England to support early years settings. Pen Green works closely with Kingswood Community Nursery (Corby), Leona Smith {childminder in Leicestershire) and Charnwood Nursery and Pre-school (Leicestershire) lo fomi the Early Years Stronger Practice Hub for the East Midlands. As a Hub we aim to share effective practice. provide eviden￿ based on profession81 development. and help improve outcomes for young children, particulady in areas of disadvantage. The Early Years Hub supports early early years settings across the region by sharing effective. evidence informed practice and delivering high-quality professional development. Based at the renowned Pen Green Centre in Corby the earfy years hub works in collaboration with practitioners to improve outcomes for young children, with a strong focus on inclusion. community engagement and reflective practi￿. PEN GREEN CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achiovements and pgrforman¢e Criteria used to assess succoss The trustees monitor the year-on-year levèls of tske-up on the coursas offered and the percentage of successful completions which, in the reporting year, malnlained consistently high levels. In addition to receiving regular perfomance reports from projèct leads, the trustees also receive feedback from sponsoring bodies such as the DfE, NCB, and the EEF on the successful delivery of the funded projects in line with the success criteria sel out of these projects. Flnancial review The charity operates with a general fund which covers all nomial charitable costs and reslricted fund which holds grant fijnded charitable projects. At the year end Ihe charity held £46.539 {2024.' £30.667) in gèneral reserves and £nil (2024: £nil) in the restricted fund. As the charity's work and research is project based all future costs should be Covered by grant funding and the general reserve is sufficient to provide support for the foreseeable futur8. Risk managements are made al the centre on an ongoing basis and fijlly reviewed whenever significant changes are made. The risk management strategy comprises: An annual review of the risks the charity may face. Its systems and procedu￿5. The impact of fijture funding and the financial implications on the centre. PEN GREEN CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and managoment Pen Green Centre is a cornpany limited by guarantee governed by it5 Memorandum and Articles ofAssociatlon dated 13 February 2007, as amended on 15 October 2013. It is registered as a charity with the Charities Commission. Anyone over the age of 18 can become a member of the company, and each mernber agrees to contribute £10 in the event of the charity winding up. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were= J L Armstrong K J Bartley Prof. C Pascal RJOrr R Scott A Prodger F Dewsbery A K Cooper All trustees have current or prior personal andlor professional experience of relevan¢e to Pen Green Centre and its work. The Charity does not CLJrrently employ any staff although It has the capaGity to do so. It contracts with the Pen Green Centre for Children and their Families for the provision of staffing, leadership, and prèmisès lo support the aims of the Charity under a Collaboration Agreement. A limited number of trustees are also senior stsff employed by the Pen Green Integrated Centre or are Governors of the Integrated Centre. Several Twstees attend the Integrated Centre's Research Training and Development Steering GrouplGovernance Sub-committee meetings in an advisory capacity- The charity had eight trustees at Ihe year-end, all of whom have been appointed directors. Collectively they will make the final decisions with regard to staffing, recruitment, policy making and finance. They meet at least ￿lce a year. Auditor The auditor. Moore, is deemed to be reappointed under sèction 487(2) of the Companies Act 2006 Disclosure of informatlon to audltor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audic but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant inforrnation and to eslablish that the auditor is aware of such information. The trustees. report wa5 approved by the Board of Trustees. Trusl8e PEN GREEN CENTRE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees. who are also the directors of Pen Green Centre for the purpose of company law, ar8 responsible for preparing the Trustees, Report and the financial statements in accordan￿ with appliGable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming reSoU￿S and applicalion af resources. induding the income and expenditure. of the charitable company for that year. In preparing these financial statements. the trustees ate required to= select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP- make judgernents and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: and prepare the financial statements on the going con￿rn basis unless il is inappropriate to presume that the charity will continu8 in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial slat8ments comply wtlh the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable steps for Ihe prevention and detection of fraud and other irregularities. PEN GREEN CENTRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF PEN GREEN CENTRE Opinion We have audited the financial statements of Pen Green Centre (the 'charity'l for the year ended 31 March 2025 which comprise the statement of financial activities. the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The FinanGial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)- In our opinion. the financial statements-. give a true and fair view of the stale of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resou[￿s, for the year then enéed.. have been property prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practi￿". and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS {UKII and applicable law. Our responsibilities under those stsndards are further described in the Auditorfs responsibilitigs for the audit of the financial st8tements section of our report. We are independent of the charity in accordance with the ethical requirements thal are relevant to our audit of thé financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with Ihese requirements. We believe that the audit evidence we hav8 obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significAnt doubt on the charity's ability to continue as a going concem for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responslbilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Inforniation The other information comprises the information included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on Ihe financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibilty is to read the other inforTnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identity such material inconsistencies or apparent material misstatements. we are required to detemiine whether this gives rise to a material misststement in the financial statements themselves. If. based on Ihe work we have perfomed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulation5 2008 requires us to report to you if. in our opinion: the information given in the financial statements is inconsistent in any malerial respect with the trustees. report- or sufficient accounting records hav8 not been kept- or the financial statements are not in agreement with the accounting records- or we have not received all the information and explanations we require for our audit. PEN GREEN CENTRE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF PEN GREEN CENTRE Responsibilitles of trustees As explained more fully in the statement of trustees. résponsibilities, the trusteas, who are also the directors of the charlty for Ihe purpose of company law, are responsible for the preparation of the financial ststements and for being satisfied that they 9ive a truè and fair view. and for such intemal control as the trustees determine is necessary to enable the preparation of flnancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to ￿ase operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audit of the financial statemenls We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan￿ with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assuran￿ is a high lèvèl of assurance, but is not a guarantee that an audit Gonducted in accordance with ISAS {UK} will always detect a material misstatement when it exlsts. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our pro¢edures are capab18 of detecting irregulariti8s, including fraud, is detailed below. Explanation as lo what extont thè audlt was considered capable of detectlng irregularitles. Including fraud The objectives of our audit in respect of fraud, are., lo id8ntify and assess the risks of mat8rial rnisstalement of the financial statements due to fraud., to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due lo fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevenllon and detection of fraud rests with both management and those charged with governance of the company. Our approach was as follows.. We obtained an underst8nding of the legal and regulatory requirements applicable to the company. and considered that the most signrficant are the Companies Act 2006, UK taxation leglslation. the Charities Act 2011 and FRS102 SORP. We obtained an understanding of how the ¢ompany complies with these requirements by discussions with management and those charged with govemance. We assessed the risk of material misstatement of Ihe financial statements, including the risk of material misststement due to fraud and how it might occur. by holding discussions with management and those charged with governance. We inquired of manag8ment and those charged with g0Veman￿ as to any known instances of non- compliance or suspected non-complian￿ with laws and regulation5. Based on this understanding, we designed specific appropriate audit procedures to Identify instanc8s of non-compliance with laws and regulations. This included making enquiries of management and those Charged with governance and obtaining additional corroborative evidence as required. A further description of our responsibilities for Ihe audit of the financial statements is located on the Financial Reporting Council's website at.. http'.Ilwww.frc.org.ukJauditorsresponsibilities. This description forms part of our auditorfs report. PEN GREEN CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF PEN GREEN CENTRE Use of our report This report is made solely lo the charity's trustees. as a body. in accordanc8 With Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's Iruslees those matters we are required to stat6 to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audlt work, for this report. orforthe opinlons we have formed. Amanda Etty (Senior Statutory Auditor) for and on behalf of MOORE Charterod Accountants ststutory Audltor Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ PEN GREEN CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Reslricted funds funds 2025 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Other trading activities Investments 517,150 946,580 517,150 976,685 294 914,483 1,273,474 914,483 1,298,377 269 30,105 294 24,903 269 Total income 30,399 1,463,730 1.494.129 25,172 2,187.957 2,213.129 Expenditure on.. Charitable activities Other expenditure 14,527 517,150 946,580 531,677 946.580 12,447 914.483 926,930 1.273.474 1,273,474 10 Total expenditure 14,527 1,463,730 1,478,257 12,447 2,187,957 2,200,404 Net Income and movement in funds 15,872 15,872 12,725 12,725 Re¢on¢lllatlon of funds: Fund balances at 1 April 2024 30,667 30,667 17,942 17,942 Fund balances at 31 March 2025 46.539 46.539 30.667 30.667 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. PEN GREEN CENTRE BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notss Current assets Debtors Cash at bank and in hand 13 265,764 562,833 489,178 352,538 828,597 841,716 Credltors: amounts falling dua wlthln one year 14 {782,058) 1811,049) Net current assets 46,539 30,667 Income funds Unrèstricted funds 46.539 30,667 46,539 30,667 The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of thè Act and for preparing financial statements which give a true and fair view of the slate of affairs of the company as at the end of the financial year and of its incoming resources and application of resources. including its incom8 and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial statements hav8 b88n prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Inancial staternents were approved by the Trustees on . Trustee Company Registration No. 06227100 PEN GREEN CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 17 210.001 134,480 Investing activities Investment income received 294 269 Net cash generated from investing activities 294 269 Net cash generaled from financing activities Net increase in cash and cash equivalents 210,295 134.749 Cash and cash equivalents at beginning of year 352,538 217.789 Cash and cash equivalenls at end of year 562.833 352.538 10- PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policios Charity infonnation Pen Green C8ntr8 is a private company limited by guarantee incorpora18d in England and Wales. The registered office is Pen Green Research Base. Rockingham Road, Corby, Northamptonshire, NN17 1AG. 1.1 Accounting convention The finan¢i81 ststements have been pr8pared in accordance wtth the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {'FRS 102,1 and the Charities SORP "Accounting and Reporting by Charitie5'. 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 1021'18ff8CtIV8 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements a￿ prepared in sterling, which is the functional currency of the charity. Monetsry amounts in th8se financial stat8ment5 are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the financial ststernents. the trustees have a reasonable expectation that the charity has adequate resourc8s to continue in operational existence for the foresesable 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 us8 at the discretion of the trustee5 in furtherance of th81r charitable objectives. Restricted funds are subject to specific condition5 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 lo the financial stat8m8nts. Endowment fijnds are subject to specific conditions by donors that the capital must be maintsined by the charity. 1.4 In¢ome Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured réliably, and il is probable that income will be received. 1.5 Expendltura Liabilities are recognised as resou￿$ expended when there is a legal or constructive obligation committing the charity to the expenditure. 11 PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequendy measured at cosl or valuation. net of depreciation and any itnpairment losses. Depreciation is recognised so as to writs off the cost or valuation of assets less their residual values over their useful lives on the following bases- Fixtures and fittings Computers 25°A reducing balance basis 33% reducing balance basis The gain or loss arising on the disposal of an asset 15 detemiined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 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 or18ss, and bank overdrafls. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnan¢lal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instrumenls are ￿ cognised in the charity's balan￿ sheet when the charity becomes party to the contractual provisions of th8 instrument. Flnancial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price including transactlon costs and are subsequenuy carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al 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. are initially recognised at Iransaction price unless the arrangernent constitutes a financing transaction, where the debt instruTnent is measured at the present value of the future payments discounted at a market rate of interest. Financial liabililies classified as payable wtthin one year are not amortised. Debt instruments are 5ubsequenlly carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or servi￿5 that have been acquired in the ordinary cours8 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 pric8 and subsequendy measured al amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabilitles Financial liabilities are derecognised when the charity'5 contractual obligations expire or are discharged or cancelled. 12- PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Contlnued) 1.9 Taxation As a charity. Pen Grèen Centre. is exempt from tax on income and gains falling within Section 478 of the Corporation Taxes Aot 2010, or Sèctlon 256 of Taxation of Chargeable Galns Act 1992. No charges have arisen. 1.10 Employee benefits The cost of any unused holiday entitlement 15 recognised in the period in which the employee's services are received. Termination benefits are r8cognis8d immediately as an expense when the charity is demonstrably committed to temiinate the employment of an employee or to provide tèmiination benefits. 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 a5soclated 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 assumption5 are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate 1$ revised where the revision affects only that period, or in the period of the revision and fLrture periods where the revision affects both current and future periods. Income from donations and legaeies Restricted funds 2Q25 Restricted funds 2024 Grants 517.150 914.483 Grants Department for Education 517,150 914,483 517,150 914.483 Other trading activitie5 Unrestrlctsd Restricted funds funds general 2025 Total Unrestricted funds Restricted funds general 2024 Total 2025 2025 2024 2024 Tuition fees 30.105 946,580 976,685 24,903 1.273.474 1.298,377 30.105 946,580 976,685 24,903 1,273,474 1.298,377 13- PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income froffl invostments Unrestricted Unrestricted funds funds 2025 2024 Interest re￿1vable 294 269 Expenditure on charitable activities Charity Charity expenditure expenditure 2025 2024 Direct costs Recharged costs Audit fees 516.150 1.000 911.483 3.000 517,150 914.483 Share of support and governance costs (see note 7) Governance 14.527 12.447 531.677 926.930 Analysls by fund Unreslri¢ted fiJnd8 Restricted funds 14,527 517,150 12.447 914.483 531,677 926,930 14- PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governance costs costs 2025Support costs Governance costs 2024 Clerking fees Audit fees Bank charges Annual ICO registration Insurance Membership fees 1.555 6.213 69 47 1.753 4.890 1,555 6,213 69 47 1,753 4.890 2.001 3.923 80 35 1.663 4,745 2.001 3,923 80 35 1,663 4.745 14.527 14.527 12.447 12,447 An21ysed be￿een Charitable acts'vities 14,527 14.527 12,447 12,447 Audit fees for the year amount to £7.213 (2024: £6,923). £1,000 of which has be8n received as funding from the government, therefore only £6,213 is included within support cosls. Net movement In funds 2025 2024 The net movement in funds is stated after chargingl(¢rediting)'. Fees payable for the audit of the charity's financial statem8nts 6,213 3,923 Employees There were no employees during the year. 10 Other Restricted funds general Restricted funds general 2025 2024 Tuition fees 946,580 1,273.474 946,580 1,273.474 11 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitsble purposes. 15- PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Tanglble fixed assets Fixtures and fitting5 Computèrs Totsl Cost At 1 April 2024 4.317 3,256 7,573 At 31 March 2025 4.317 3,256 7,573 Depreciation and irnpairment At 1 April 2024 4.317 3,256 7,573 At 31 March 2025 4.317 3,256 7,573 Carrying amount At 31 March 2025 At 31 March 2024 13 Debtors 2025 2024 Amounts falllng duo within one year: Trade debtors Other debtors 178,388 87,376 318,645 170,533 265,764 489,178 14 Credttors: amounts falllng duo within one year 2025 2024 Trade creditors Accruals and deferred income 730,239 51,819 782.675 28.374 782,058 811,049 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 grantor5 as to how they may be used. These include designated funds which have been set aside OLrt of unrestricted funds by the trustees for specific purpose5. At 1 April 2024 Incoming resources ResoU￿e5 At 31 March expended 2025 General funds 30,667 30.399 (14,527) 46.539 16- PEN GREEN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Unrestrlcted funds (Continued) Previous year: At 1 April 2023 Incorning resources Resour¢os At 31 March expended 2024 General funds 17,942 25,172 (12,447) 30,667 16 Related party transactions There were no disclosable related party transactions during the year {2024- none). 17 Cash generated from operations 2025 2024 Surplus for the year 15,872 12.725 Adjuslments for.. Investment income recognised in statement of financial activities {294) (269) Movements in working capital: Decreasellincreasel in d8btors (Decreasellincrease in creditors 223,414 {28,991) {145.515) 267,539 Cash generated from operations 210,001 134,480 17-