REGISTEKLD CONIPANY NUIIBER: 06608112 (En2land and Wales) RLGlS'fLRED CHARITY .Y UNIBLR: 1125628 REPORT OF THE TRUSTEES A)'D UryAUDITLD Tr IIYANCIAL S'I'A'I'LMLNTS FOR THE YEAR ENDED 30 JUNE 2024 FOR THE WEDNESDAY WORD LIMITED TRADING AS THE WEDNESDAY WORD TRUST Harrison & Co Chartered ALcountanls 531 Dcnby Dale Road Wesl C.i)Ider Grove Wakclicld West Yurkshire WF4 3ND
"I'HL W'EDNESDAY WORD LIMITED TRADINC AS I'HE WEDNESDAY WORD TRU.ST CONI"EN"I'S Ob "I'HE Tr INANCIAL SI'A TLMLN"I'S FOR THE YEAR LLYDED 30 JbNE 2024 Page Report of the Trustees Independen( Examiner's Report Statemvnt of Financlal Activitle5 Statement of Financial Position Notes to the Flnancial Statements 6 10 15 Detailed ,Statement of Financial Aetii'iti¢s 16
I'HE II'EDIYE.SDAY WOIiD LIMITED TRADING AS 'I'HE W'EDNESDAY WORD TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 The tSteel who are also director% of the Lhartty for the purpuses of the Companies ALt 2006. present their i'eport with Ihc Iinancial s(ai¢menls ol- the charity for Ihc ycar ended 30 Junc 2024. The irustccs havc adop(cd Ihc provisions or ALLuuntingi Ètn(l Reporting, by Chariiies= Statement of ReLumin¢nded PrdLtiL'e appli¢abl¢ to Lhariti¢s preparing their aceounls in accordancc wilh thc Fiiiajicial Rcporting Stsndard applicablc in Ihc UK and Rcpublic of Ir¢lai)d {FRS I O?) (effeLlive l JdDuary ?019). OWECTIVES AND ACTIVITIES Public benefit The Chiwily provides eduLational (Ind religiou5 infomiation for ihe b¢n¢fit of SLhoDls, families and p[lsh churL'h¢s. prcdominantly in Eiigland and Walcs but also Iree rcligious cducaiion rcsour¢cs lor parishLS inlornalionallv. Th¢ I¢CeS confimi thal ihcy havL complicd with Ihc rcquiremenis ofscclion 4 ofihc Charities Act 201 I Io have due regJard to the publiL benefit guidanLe publi%h¢d by the Charity Commission for England lind Wdles. STRUCTURE. GOVERNANCE AND MANAGEMENT Goi'erning do¢ument Objective4 (d poliLies The churity's aLtivities ¢xpose it to a number of finanLial risks in¥ludingi Lredit risk, Lafh flow risk and liquidity risk. The use of financial dcriv'alives is goi'erned by the charily's policies approved by ih¢ board oftrusle¥s. IvhiLh pruvide writicn prinLiple% the use uf financial dvrivatives lo In&e these risks.. The Lharity doc5 not use derivative linancial inslThmcnts li)r speculative purpos¢s. C&5h llow risk Thc charity's aclivilTrcs cxpose il primarily to thc financial risks of changcs in for¢ign currency exchangc ralcs Ind inl¢re%t rates. The Lharity uses foreign exchdng7e forward LontrdLt%' and intere%t raie swdp LonEraL'ls tu h¥dgTe Ihesc exposurcs. 1ntere.st b¢arinbY and liabilities are held at fixed rale iu ensure certainty of Lash flow.s. Credit risk The Lharity's prinLiPdl finaniial assets are bdnk balances and Lash, trad¢ and other reL'eivabl¢s, and investinents. The charitys credil risk is prim2ri1> anributsble to its trnde receivablcs. The amounts presentcd in the balance sheei dr¥ nel of dllowanLes for duubiful reL¢ivable5. An dlloivdnce for iinpaimienl is inade where there ib lin idcntilicd loss event .hIch. bascd on pr¢vious ¢XPLricncc, is evid¢ncc ol"a rcduclion tn Ihc recovcrabilily ol. Ihc ca.%h fl01¥5. Thc credit risk on liquid funds and derivalivc financial inslrumLnls is limiicd be¢ausc the counlerpartics arc bank% with hi&Th credii_ralings as%igmed by iniernational Lredil-rdlin¥ agTencie%. Th¢ chariiy has no signilicai)I conccnlralion ol-¢r¢dil risk. with exposur¢ sprcad over a larg¢ number of counteartIeS and customers. Liquidity risk In ord¢r to maintain liquidity lo ensure that suffici¢nt funds are availabl¢ for ongoing operdtiotLS and future developments. the charity uses a mixttire of long-lern) )d short-term debi linlce. Furthei. deta115 regFarding liquidity risk Lan be found in the Stdtem¢nt of dLcounting policies in the fin{lia1 st(Ilemenls. REFERENCE AND ADMII%ISTRATIVE DETAILS Registered Company number 06608112 (Engyland dnd Wales) RvgitTrtered Charity number 1125628 Page I
'I'HL W'EDNESDA Y WORD LIMI'fED TRADING AS THE II'EDNESDA Y WORD TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 Register¢d olee 531 Dcnby Dalc Road Wcsi Cdlder Grove Wakclicld West Y(Trrkshire WF4 3ND I'rustecs Mr D Firth Mrs S Firth Mr D Willis Rev H Wansbrougvh Rev J T McGrath Indepelldent Examincr Mr M J Sicad Harri.8on & Co Chariered Accountants 531 Denby Dale Road West Calder Grovc Wakefield Wesl Yorkshire WF4 3ND Bankers Lloyds Bank Wakcficld Weslgale Wakcficld West Yorkshire WFI IJZ Approved by order of the board ol'lmslees on........................ signed on lis b¢hall'by.' Rcv J T McGraih - Trnsico
INDEPENDEY'f LXAMINER'S REPOR"r"ro"YHE I"RUSTEES OF I'HE WEDNE.SDA Y WORD LtMI'I"LD Independent examiner's report to the trustees of The Wednesday M'ord Limited {'the Company,) I report to the ih<iriry trubl¢e5 on In}. exainin<ltion of the aLLuunts' of the Conipany for the s, ended 30 June 2024. Responsibilitie5 ahd bas1% of report A% the Lhdrity's tw%lees of the Cumpany land also its dire¢tors for the purwse% Of company law) you respon.8ible for Ihc prcparalion ol-lhe a¢coun(s in accordancc with Ihc rcquircmcnls ol. Ihc Companies Act 2006 ('Ihc 2006 A¢i'). Having satisfied myscif thai Ihc accounts of Ihc Compaiiy are noi rcquircd lo bc aiidiled under Pam 16 01. thc ?006 A¢1 and are eli&?ible t-ur independent examination. I report in repeCI OÈ" Iny examin<ltion of your iharity's dLLoiinl8 as carried oul under Section 145 of thL Charilics Act ?01 l ('th¢ 2011 Act,). In carrying oul my cxaminalion I havL followcd the Djrections given by the Charity Commission under Section 145(5) Ib) of the 2011 Act. Independent examiner's stytement I have Lompletcd my examination. l Lonfimi that no matt5 have Lome to iny attention in collneltion with the cxamination giving me cause lo bcli¢v¢: accounting records wcrc nol kcpl in respccl ofthc Company as rcquircd by Section 386 of Ihe 2006 Act- or the aLLoullLS do tjot dL¢ord with those reLords' or thc accounts do nol comply with thc accoliiiling rcquiremcnis of Scction 396 of lh¢ 2006 Acl oiher than any requireinent that the accounls give d trne and fair view whiLh is nut a inatt¢r ¢on5idered as part of an independent examinaiion- or the acLounts' have not been prepared in acLordanLe with the meth(KIs (Ind principles of the Siateinent of Recommended Praclice lor accounting and rewrting by eharilics (llpplicable lo charitics prcparing iheir aecounts n aLLordanLt with the b inanLial Reporting Standard appliLable Én the UK R¢publiL of Irel¥nd IFRS 10211. I have no Concerns and hai'e LoIne aLYoss no other Inatters in connection with the examination to which attention ghould be drawn in this report in order lo endblc a proper undcrslanding ol'ihe accouiils lo reached. M J Stead Ha1$0 & Co Chartcr¢d Accounlanls 531 Denby Dale Road West Calder Grove Wdkefield Wcsl Yorkshlre Wk4)ND Date.. Page 3
I"HE M:EDNESDAY WOIiD LIMITED TRADING AS I'HE M'LDNESDAY WORD TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE I'EAR ENDED 30 JUNE 2024 2024 2013 Tutul liinds Unrc5tricted lund Notes INCOME A.ND ENDOWMENTS FROM Donalions and Icgacic5 72 624 Other a¢tivilics Inv¢tslni¥nt inLome Oihcr iiicomc 73,887 18.747 (10.063) 67.956 26.166 'r(Jtal 82,643 Y4,746 EXPLNDII"URE ON Raising fund5 140.364 96.829 Other 183 202 140,547 97,031 ET INCOMEI{EXPENDITURE) (57.904) 12.285) RECONCILIATION OF FUNDS Total funds brougTht forw4 802,576 804,%61 TOTAL Tr UNDS CARRIED TrORWARD 744,672 802,576 The notes fonn part of these finanLial statements PagJe 4
THE ;EDNESDAy WORD LIMITED I"RADING AS THE 14'EDNESDAY WORD TRUST STATENIE.NT OF FINANCIAL POSITION 30 JUNE 2024 2024 20?3 Tolal liinds UnrestriLted riind Notes lil.XED ASSE'I"S Tangible assets 10 401.186 585,607 CURRLNT ASSL'rs Debiors Cd%h at bank 1.093 349.339 1.343 291,319 350,432 292.662 CREDITORS Amounts fulling due 11th1n one year 12 (6.Y461 {75,693) NL'f CURREN'I. ASSEI'S 343.4x6 216,9()9 'IO'I'AL LS.SETS LESS CUtiRLIYI' LL4BILI'I'IES 744,672 802,576 ,NET ASSLTS 744,672 802,576 FUNDS UnreslriLied funds 744,672 802,576 TOTAL FUNDS 744.672 802.576 The Lh$itabIe LMpanY 1% ¢ntitl¢d to exemption from audtt under SeLtion 477 of the Compani¢s ALt 2006 fur the year ciidcd 30 June ?0?4. The mcn)bers have nol rcquircd Ihe company lo obtain an audi[ ol. its linancial slatcments lor the year endcd 30 June 2024 in ti¢cordanLe with SeLtion 476 of the comp{1¥£ ALI 2006. The tru%t¢¢% aLknowledge their r¢sponsibililies for {a) cnsuriiiby Ihal the charitable ¢oirpAny keeps accounting records thai comply with Scciions J86 and 387 01. the C.oinpanie¥ ALI 20116 rfind prcparing financial Slaicmcnts which givc a trve and lair viciv of the 51atc of arfairs of lh¢ charilable company as at the end of each finanLial yedr and of its. surplus or deficit tor edLh financial year in dLLOI'dance wirh the rcquircmcnls of Scctions 394 and 395 and which othcnvis¢ romply ivith Ihc rcquircniLnls ol- the Companies ACL ?006 r¢l(Ilingtr lo fu]unLial %tateni¢nts', so far a% dppliLable tu the Lharitdbl¢ Loiiipanv. (b) These financial slatements hai'e been prepared in aLcordanLe with the provisions applicable lo Lharitsble companies subjLCI 10 Ihc small comp}1¢S rcgime. Th¢ linancial siatcn)enis were approved by the Board of TrteeS and auihorised for issue ..Zfvd were signed on its behalf by: on inh - Trus The nol¢s fotm part of the&e findT]¥ial stdtemenl Pagve 5
THE W'EDNLSDA Y IVORD LIMI"fED TRADINC AS THE M'EDIYE.SDA Y WORD TRUST NOTES TO THE FIIYANCIAL STATEMENTS FOR THE I'EAR ENDED JO JUNE 2024 ACCOUNI'ING POLICIES B15 vf preparing the financial statements The findllLial statements uf ihe LhIlIable Lomp<iny, whiLh is d public Frtneflt entity und¢r FRS 102, huve been prcparcd 117 aecordancc with Ihc Charilic5 SORP {FRS I O?} 'Accounling and Rcportinb, bv Chariltcs.. Sialcmenl of Re¥orninended Praiti¥e applicdble io Lharities preparing their aicuunt4 in aLLordance with the Financial R¢porling Siandard applicablc in (he UK and RepublÈc ol- Ircland {FRS 102) (cficclive l January 2019),. Financial Reporting Standard 102 The FinanLial Reporting Sthndard appliL#ble in the UK and Republic of reland, and the Companies Act 2006. The Iinancial stalemenls have been prepared under the historical cost Lonv¢nlion. Income All income 15 reL'osmised in the Sidtement of FindnLl<il A¢tivities onLC the charifv hms entitl¢ment the funds. il is probable ihal the incomc will bc r¢cLii'cd and Ihc amoun( can bc mca5urcd rcli2bly. Expenditure Liabililies arc rceoEnised as cxpendilurc as soon as Ihcrc is a Icgal or construcltvc obligation conimitling th¢ Lhtirity to that expendIre, if is prL)bdble that a transfer uf eLonomiL benefits will be required in settlement qind the &mounl of IhL obligaiioii cali bc mcasured rcliably. Expcndilurc is accounlcd for on an accruttls basis aiid has been clak8ified linder headinby5 that aggregate all Losl related to the calegory. Where L05t8 cannot be directly atlribliled io pariicular headings ihty have been allocated io acliviii¢s on a basis consistent wilh (he use of resoufLes. Ralsing fund$ The%e dre Losts inLurred in attraLting volunt41ry inLome, the manag)ement of investtnentS iind those inLUTred in IradingF aclivilics Ihal raisc futids. Tangible fixed assets Deprccialion is providcd al Ihc following annual ralcs in ordcr lo ivrilc oll. cach assei over its csiimatcd uselitl life. ixtures and fittings 250/0 on reducing bal#ni¢ Individual fixed assers Losiing £100. or moTe Jre inilially recorded at Lost, less any subsequent acLuinulated deprecialion and subquent accumulated impaim]enl lo&%es. Taxation The ehariiy Trs ¢onsidered to pass the tests sel oul in Paragrdph I S¢hcdule 6 of the Financc Aci 2010 and th¢refoi'¢ li Ineet5 the d¢finition of a chdritable Loinydny for UK Lorpordtion tax Purposes. ALLurdingly, Ihe charity is polLnlially exempl fTom taxation in rcspcci ol incomc or capitsl gains receivL wiihin calLbofic5 iovered by C.hapt¢r 3 Part I l Df the COOrdI10n Tax Alt 2010 or Section 256 of the Taxalion uf Ch(ifgy#Éible Gains Acl 1992. 10 Ihc exlcnl Ihat such in¢omc or gains arL" applicd cxclusftv¢ly lo charilablc purposcs. und aecountin% Unrestrictcd fund% can be used in accordancc with Ihc chartlablc objecliv¢s al the discretion ofihc In1¢¢$. Rescricled lunds can only be used lor particular rcslri¢led purposes ivithin the objecls of the charily. Rcstriclions dri5¢ when speLified by the donor or M,hen fvnds ruised fur parn"Liildr restriLt¢d purposes. urther explanatiun of the nature and purpose of each fvnd is inLluded in the note% to the findn¥ial slalements.. Hire purchase and leasing eommitments lienial% paid linder operating led.%e% 4ire chargyed to the Siatemenl of PinanLial ALftvities on a strdibhi sine basis ovcr ihc pcriod olthc Ica5e. Pension costs And other post-retircment benefits The charitablL company operalcs a d¢fin¢d contribulion pension scheme. Contributions payable lo ihc eharitsble company's p¢nsion.SLheme are charged the Ststement of FindllLidl ALtivities in the period lo whiLh they relate. Pagc 6 continued...
I'HL M EDNESDAY IVORD LIMI"fLD TRADIIYG A.S 1'HE W'EDNLSDA Y W'ORD TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE I'EAR ENDED 30 JUNE 2024 ACCOUN'I'IC POLICILS- eontinued Basis preparation The Wcdn¢sday Word Liniilcd mcLls Ihc dcfinilion of a public b¢n¢fil cnlily ui)dcr FRS 102. Assets and liabilities are initially reLognised at hisloriLal cosl or trdlls<lLtion i'alue unless otherwise stateij in the relevant accounling policy nolcs. GoAn2 c()ncf rn The Iruslc¢s consider Ihal Ihcrc arc no malcrial uncertainLi¢s aknut the charity's ability lo conlinuc as a goiiig onLen) ur any %ignifiLant areas of unlertainty that affect Ihv Larrying value of ass¢t4 held by ihe Lharity. Exemptlon from preparing a cash flow statement The Lharity opted Tv Citrly adopt Bulletin I published on 2 F"ebruary 2016 and hai'e iherefore not included a Lash flow slalemcnt iii IhLsc linancial slalemenls. Incom¢ #nd endowment5 All incomc is rccognised once Ihe charity has entiilcmcnl lo the incom¢. il is probablc Ilial the income will be receiveLf and the ainouni tsf tbe inLome reLeiv<ible Ldn be Mered r¢liably. Donatlons legacles Dona(iun5 reLogni5ed when the Lharity h&5 b¢en noiified writing of both the amount and settlement date. In Ihc Lvcnl Ihai a donation is subjccl condilion5 that require a lei'el ol- perlormance by Ihc charily belore ih¢ Lbiirity is entitled tu the fun(l.s, the income is deferred lind not reLObFllised uniil eithei- those Londitions are fvlly mcl. or th¢ luifilmLnl of Ih(Tr5c conditions is wholly within Ihc conlrol of the charity it is probable that Ih¢sc ondiltons will be fulfilled IT] the reporting period. Grants receivable Gran15 re¥ognised when the Lharity hag an entitlement to the funds and any Londitions linked lo the grant. have bceii mci. WhcrL pcrfomiance condilions are allachcd io ihe grani &id arc yel to bc mcl. Ih¢ inconic is reLowis¢d ¢lS a lidbility and inLluded on the bul#nLe sh¢¢t as defeed in¢ome tiy be released. Investment Income Dividends are reLoLmised once the dividend hds becn deLlared and noltfication has been received of the dividend du¢. Government grants Governmcnl gFrants are recognised b&sed on lh¢ accrual modcl and are Mcasud al thc fair value ol" thc asscl reLeived or reLeivable. Cjfdnls are Lldssified ils rcldling eith¢r to rei'enue or to assets. Grdnts relating to revènue are recolISed in income ovcr ihe period in which (he rclaicd cosls arc rcco&7niscd. Graiits rclaling lo asscls arc recogni4ed over th¢ expected u%¢ful life of the a%s¢t. Where part of a grdnE reldting tu an asset is deferred, il 14 rccogniscd as dcfcrTcd incomc. Trade debtors Tradc dcbiors are amounts duc from customers for mLrchandis¢ 501d or servic¢s pcrtorni¢d in Ihc ordinary cuurse of bu%iness. Trdde debtors are rel0.]4¥d initially at the transaLtion priLe. They are Subsequenily me(¥sured dt 4morti5ed Lust usiiig Ihc cffcclivc inlcrcsl mcthod. less proiiision lor impainnent. A provision for Ihc impairn)enl of Iradc debtors is eslabli5hed M,hen there ]% objeLtive evidence ihai the Lharity will not be Éible 10 LolleLt all amounts due according lo thc original icrnis ol the r¢¢¢ivablcs. Cash and cash equivalents Cash and cash Lquivalcnls comprisc cash on hand and call dcposils. and oihcr shori-lcmi highly liqiiid inve%lments that ¢ire readily conv¢rtible Iv a known ainount ot cash and are 8ubjeLt to dn in%tgnificdnt risk of ¢haiige in value. Trade credftlors Page 7 conlinued...
THE W'LDNESDAY WORD LIMITED TRADING AS 'I'HE II'EDNESDAY WORD TRUST NOTES TO THE FI,YANCI.4L STA TEIENTS- contfftnyed FOR THE I'EAR ENDED 30 JUNE 2024 ACCOUN'1"IG POLICILS- conlinucd Trade ciedilor5 iir¢ obligation8 to pay fDT goo(Is or s¢rviLe% thdt have been acquired in th¢ ordindry LouThe of busincss Irom suppliers. Accounls payable arc classtficd as currenl liabiliiics if the charily docs nol have an unLonditional right, at the end uf the reporting, period, tu defer setilement of tbe creditor for at lu.%t ttv¢lve monihs aller Ihe reporting dalc. 11 Ihcr¢ is an Eincoiidilional ri1 lo defer seitlemenl for al leasl livelve monihs ft¢r the repvrting¥ date, th<y are presented as non-Lurrent liabilities. Tradc Lreditors are reLogni.sed initially al the tr4Sactt.0n PTiC¢ and subsequently Tn¢(Isured <it ainortised cost using Ihc clT¢¢livc inlcrcsi Tneihod. Borrowings Iniereii_bcaring borroivings arL inili211y rccordcd al fair valuL. ol. trai)saclion cost5. Inlcrcsl_bcaring borrowin¥5 are subsequently carried at amorti%'ed cost, with the (lifference between Ihe pro¢eed%, net of Iransaclion cosls. aiid ihc amount due on rcdcmplion b¢ing nxognised as a charge lo Ihe SÈalemeiii ol. Financial ALEivili¢s over the period of the relevanl bolrowing. Interest expense is recogni5ed on the ba.41.% of the effeLtiv¢ intere4t m¢thixl and 15 included in interesl payable and similar chargTrcs. Boffoi¥'ingJs arc classificd as curreni liabililies (lesS the chariiy has an uncoijditional right lo defer setilcmcJJl or the liabiliry for at least tti'elve inunths after the r¢porting¥ date. Fund structure Unre%lriLled inLome funds dre gyenernl fvnds thul are available for use ril the trust¢e's disLrelion in furth¢ranLe of Ihc objcclives ol-lhv charily. 'inancial instruments Classification FinanLial asset% und finonLi81 liabililies are recogmi.sed ivhen the Lharity beL'omes a party to the conlrdLtual provisions of the inslnuncnl. inan¥ial liabilities anil equity insiNmenLs are Lla&sifie41 acLording to the substanLe of the ¢ontraLtual arrangcrncnls eniered inlo. An ¢quity insirum¢ni is any Coiitracl thai ¢v&denccs a residual int¢r¢sl in the assets or the Lharity after deduLtin&7 ¢111 of its liabililies. Recognition and meJsurem¢nt All IinanLial <isse15 dnd liiibilities are initially inwdsured at trans¢lLlion price (inLluding transdLtion L0515). exLePt lor those linancial asscts classilied as at lair valu¢ ihrough profil or loss. which are initially mcasurcd ai fair Vdliit (whiLb is normally the tr4ULsaLtion PriL¢ excluding trnnsaLlion Losts). unless the arrdngyement Lonstitute% d linanciiig transaction. Il. an arrdEJgFcmcnl constilutcs 8 financing Iraiisaction. Ihc financial asscl or financial liability 15 measured ¢it the present i'alue of the fulljre PanentS discounted ut a market rare of intere.81 for a similar debi inslwinenl. Financial asscls and liabililics are only ollsel in ihc slaicmcni ol. linancial posilion whcn, and only when there exRStts a legially enforLe¢ible Ti¥hi to sel off the reuogni%ed ainounts. and the charity inlend5 either to settle on a net basis, or lo rcalise Ilic asset and scttlc Ihc liabilily simulthncously. Finaiicial asscls are dcrccogprtiscd wheii and oiily whcn a) Ibe coniraclual rights lo Ihc cash Iloivs from lh¢ findnLial asset expire or are setiled. b) the charity transfer5 to another Party %ubstdntially dll of the risL4 and r¢wards ol-owner5hip of the Iinancial asset, or cl Ihe chariry. despile having rc12ined some. bul nol all. sh111]eant risks and rewards of ownershtp. has transferred Control of th¢ asset to another paty. inanLial liabilities lire dereL'ogni5ed only when the obligFiltion speLified in the contrdLt 1% di.schargJed. canLelled or cxpircs. Debt instrumen¢$ Debi inslninicnls which niccl Ihc following conditions are subscquenily M&Ured al amorLis¢d cosl using ihc effeLlive interest meth()d= PagL 8 continued...
THL WLDNESDA Y IVORD LIMI'I'ED TRADING AS I'HE M'EDNESDA Y WORD 'IRUST NOTES TO THE FIYANCL4L STATEMENTS - cuntinued FOR THE I'EAR ENDED 30 JUNE 2024 ACCOUN'I'ING POLICIE.S- conliDued la) Th¢ Cond¢tual r¢lurn lo ihe holdcr is (i) a lixcd amount: {ii) a positiVL Iixcd rale or a posilivc variablc rate. or (iii) a Lombination of d Positive or ¢1 n¢galive fixed rdre and a positive Vdriabl¢ rat¢. Ibl The iontract may provide for repayments. of th¢ prinlipal or the rern to the hold¢[ (but noi bothl to be linked to <1 %ingJlc relev4inf ubservable index of g¢nerJl PriLe infiation of the LurreThLy in whiLh the debt irL5tn1¢nt is dcnominalLrf provided such links arc tlol l¢vcragFcd. Ic) Thc conira¢i may providc lor a delenninable variallon of Ihc rciiirn lo Ihe holdLr dltring Ihc lile ol. Ihe instrumeni. provided that lil the new rdle tifi¢$ iondilion {a) and the VatIOn is not conlingenl on futur¢ evcnis oihcr than I I l a change of a conlraciual varittblc ralc- (2) lo prolccl Ihc holdcr abJainsl crcdil dclerioralion of the issuer. 13) chdngF¢S in levies applied by a L*ntral bank or iwising from ihangtre% in rclev¢int taxtilion or Idw. or (li) thc ncw ralc is a mark¢1 raic ofinlcrcsl and salisfics condilion (a). {d) Thcrc ig i)0 conlractual provision Ihal could. by ils tern r¢sulL in Ihe holdcr losing Ihe principal amounl or any inieresl Jrtributsble to the Lutrent peri¢)d or prior per1(j5. le) Contractual proN'i%ions ihat pem]it the issuer to prepay d debt inStMent or perniit the holder to pul it baLk lo the issuLr bcfoT¢ maluiity arc nol coiitingycnl on fulurL" Lvcnts. oiher ihan lo protccl the holder a&Jainsl lh¢ crcdil deterioration of the i&suer or a Lhange in control of ihe issuer, or to proteL't ihe holder or i8.suer againsT changes in Icvics applied by a central bank or arising from changcs in relcvanl laxalion or law. (l) Coniraclual provisions may pcrmit Ihc extension ol. the lern] ol- the dcbi instrumciil. provided that lh¢ return to Ihe holder and any oiher Luntr<iLEual provisi0Tr8 applicable during, the exlended ierm Sdti%fy the coniliiions of paragraphs (a) lo (c). Debt inslrumcnls Ihal arc classifi¢d as payabl¢ or reccivablc wiihin one ycar on inilial rccognitioii and which Tneet the above Londitions dre Ineasured at the undi5counted amount of the cash or other consideralion expeLled lo be paid or rcccived. nel ol'impainnenl. Wtth the cxceplion of some hcdging insirumLnls. oihcr dcbi instruments not mceiing Ihcsc conditions are me&%ured at fair value through profit or lo. Commitments to inake and reLeive loans ivhiLh meet ih¢ ionditions mentioned above are meusured al LOSI (which may b¢ nil) Icss impainT)cnt. Infvestments Invc8tmLnts iii non-convertible prelcrcncc shares and non-put12blc ordinary or prelcrLnce shares (where shares re publiLly traded OT iheir Fair v(Ilu¢ is relidbly mtrdsufdble) are ineasured ilt fair value thruugFh profit or loss. Where fair value cannot be mcasur¢d rcliably. invcsimcnls arc mcasurcd al cosi less impainY]enl. Invcsimcnis in subsidiarics and associalcs arc measured al cost Icss impairn]¢nl. For inveslmcnls in subsidiarics acquired for consideration inLluding the issue of shares qualifying, for merger relief, cost is measured by ref¢rcnce io the nominal value of the sharcs i&sued plus fair value of other consideration. Any premiiim is i¥nored. Derlvatlve financial instruments The Lhdrtly uses derivative finLia1 iTh4tnimen(s to reduLe exwsure io fureign ¢xih4inb7e iisk and Interest rat¢ moN'cmcnts. The charily docs noi hold or issuc dcrivative linancial inslnunenls lor sp¢culaliv¢ piloSes. Derivalives arc inilially rccogniscd al fair valuc al thc da a dcrivalivc coTrtraci is eniercd inlo and arc subsequently reinea%ured to their fair value dl reportin(F date. The re4ultinb' u¥uin or loss I i'tt¢og?nised in slalement ol- financial activilics immcdialely unlcss Ihc dcrivaiivc is dcsignalcd aiid cifcclivL' as A hcdging in%lNment. in whilh event the timingv of the reco&Fnition in slat¢ment of finanLiiil aLtivilie% dvpends on the nature ofthe hedgc rclaiionship. Page 9 ¢onlinued...
THE WEDNESDAY WORD LIMI'fLD TRADING AS THE NI'EDfiESDA Y II'OKD 'fRUST NOTES TO THE FI.NXYCL4L STATENIENTS- continued FOR THE I'EAR ENDED 30 JUNE 2024 ACCOUIYI'ING POLICIES- continued Fair i'alut me¥surcmenl Thc bcst cvidcncc of fair valuc is a quolcd pric¥ lor an id¢ntical asset in an aclive markcl. When quolcd pricc5 are un<ivailiible, the priLe of a recent trdnsaLtion for an identlLal Jsset provides evidence of fair Vdlue as lonLy thcre has noi becn a signiliedni changc in economic circumslan¢cs or a significani lapse ol lim¢ since ih¢ transdction took place. If the inarkel js not aclive and rec¢nl transactions of an identical asset on their uwn are not a good eslirnate ofiair value. the fair valiic is esliinated by using a valuation lechi)ique. DONA'I'IOLYS AND LEGACIES 7024 2023 Dotiations 72 6?4 OTHER ACTIVITIES 2023 MeMbehIp %ubscriptions 73.IIX7 67,956 INVESI"MENT INCOME 2024 R¢nts r¢ceivcd Renial expenditur¢ Dcwsil account intcrcst 32.104 (i¥,Iiw) 4.74? 33,730 (8,1123) .259 18.747 26,166 RAISI.NG FUNDS Raising donstions and legacies 2024 2023 Truslecs, remuneration clc Stsff lusts Insurancc Telephvne P051age and slalion¢ry Sundries Travelling expknses Computer softivdLE and Costs 98.053 16.297 4?4 499 580 716 359 4.979 79,000 7,5211 55? SXII 1,941 121,907 8l),616 Page 10 coniinued...
THE WLDNLSDAY WOIiD LIMITED TIL4DING I'HE M'EDNESDA Y WORD TRUST NOTES TO THE FI.YANCIAL STATEIIIENTS - continued FOR THE I'EAR ENDED 30 JUNE 2024 RAISING trUNDS- continucd Other activities 2024 2023 Purihases Rcnl Bad debts Accountancy Trust AdviLe 9.()98 7.007 5.953 203 997 60 1.048 704 18.457 7,213 Aggrcgale amounts 140.364 96.8?9 NET I]%COMEI{EXPENDITURE) Nct in¢oind(cxpendilurc) is slalcd aftcr ¢hargingl(crediiing)'. 2024 2023 DLyrecialion - owned assels Other operating ledSes Delicil on disposal ol- lixed assets 184 7.007 10.063 ?02 5,953 TRUSTEES, REMUNE114TION AND BENEFITS 2024 2023 TnLStees' salaries 98.053 19,IIIK) "rrustees. expenses There weT¢ no tNstees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. STAFF COSTS 2024 2023 WaLTes and S<ilaries Social sccurily cosls Other pen%ion cosls 98.ll53 6,448 9,849 79.IM)O 2.536 4.992 114.350 86,528 Thc av¢rnge monthly number ol"cmployees during thc year was as lollows: 2024 20?3 DireLtors No cmplo?ecs rcceivcd Cmolumcnis in CXCCSs of £60.000. Pagcll coniinued...
THE WEDNESDAY WORD LIMITED TRADING AS I'HE M'EDNLSDAY WORD TRUST NOTES TO THE FI.YANCI.4L STA TEhlENTS- continued FOR THE I'EAR ENDED 30 JUNE 2024 COMPARA'I"IVES TrOR"I'HE STAI'EMElY"r OF l*l.NANCIAL AC'I"IVI'I'ILS Unrcstrictcd fund INCOME AND Ei%DOWMENTS FROM Dunations and l¢ga¢ies 624 Other aciivities Investment inconie 67.956 26.166 'rotal 94.746 LXPL)DI"I"UKL ON Raisin¥ lunds 96.829 Other 2112 Total 97.031 NET IliCONIEI{EXPENDITURE) (2,285) RECONCILIATION OF FUNDS Tolal lunds broughi lorwdrd 804,X61 "i'o'rAL FUNDS CARIUED b'ORWARD 802,576 io. TANGIBLE Tr IXED ASSL"I"S Fixlurcs and lillings F"reehold property Tolals CO.S'I" OR VALUA'I'IOY Ai l July 2023 585,000 6.452 763 591,452 763 (]85,)0 I Disposals (185.000) AI 30 Junc 2024 400,0 7,215 407,215 DLPRECIATIO At l July 2023 c.harge for year 5,845 5.845 184 At 30 June 2024 6,029 6,029 NET BO()K VALUE AI 30 June 20?4 4,001) I,l86 401,186 At 30 June 2023 585.000 607 585,607 Pagc 12 continued...
I'HE WEDNESDA Y WORD LIMITED TRADING AS THE WEDLYESDAY WORD TRUST NOTES TO THE FI,YANCI.4L STATEMENTS- continued FOR THE I'EAR ELN'DED JO JUNE 2024 io. I'ANGIBLE TrIXED ASSETS- colltinucd Cost or valuation at 30 June 2024 i.s represented by- Fixtures and fitting Frcehold propety VdlLldtiun in 2021 Valualion iii ?0*2 c.o.st 83,X26 60.000 256.174 83.X26 60.000 263.389 7,215 4(M),000 7.215 407,215 DEBTORS: NIOU,"'s Tr ALLING DUL Iii"fHII% ONL YE.411 ?024 2023 Prcpaymcnls ,093 1.343 12. CREDITORS.. Amouiyfs FALLING DUE WITHIN ONE ITAR 2U24 2023 Trdde Lr¢ditor5 Social s¢curity and othcr taxes AiLruals and deferred inLome Accrued cxpcnscs 5,428 888 1,206 73,8117 600 630 6.946 75,693 13. MOVEMENT FUNDS Nel movenienl in funds At 30.6.24 At 1.7.23 Unrestricted funds General fund 02.576 {57,904 } 744.672 TO'fAL bULYDS 802,576 (57.1)041 744,672 Ncl movcinenl in funds. included in ihe abovc are as follows- Incoming r¢sourLe5 Resources expended Movement in fundts Unre5tritted funds General fund 82,643 (140.547 > (57.9041 TOTAL FUNDS 82,643 1140.547) 157.9114) Page 13 conlinued...
THL W'EDNLSDAY WORD LIMI'fED TRADIIYG AS THE WEDTr4ESDAY WOKD "fRUST NOTES TO THE FI.YANCL4L STATEIENTs- continued FOR THE I'EAR ENDED 30 JUNE 2024 13. MOVEMEN'I" 1.% FUNDS- continued Comparatives for movement in ftsndb Ncl moi'einent in funds Ai Ai 1.7.2? Unrestricted funds Gcncral fund 804,861 (2,285) 802.576 TOTAL FUNDS 804.861 {2 ?85) 802.-$76 Comparative n¢t movement in funds, inLluded in the above ure fulluw5= Incoming resources R¢sourLes CXPLndcd Moveinent n fimds Unrestricted funds Gci)Lral lund 94,746 (97.031) (?.285) TOTAL FUNDS 94.746 {97.031) (2,285) A LUen1 year 12 Inonths and prior year 12 months. Lombined po%ition 1% as follows: Net movemcnl in funds Ai 30.6.24 At 1.7.22 Unrestricted funds CJeneral fund 804,861 (60.1891 744.672 'i'o'rAL Tr UNDS 81H.861 (60.1891 744.67? A currenl year 12 moiiihs and prior year 12 monihs combin¢d n¢1 movemcnl in lunds. Includ in Ihc above are (IS follows.. Ineoining rcsourccs Resource cxpeiidLd Movement in funds Unrestricted funds G¢neral Fund 177.389 (237,578) (60.189) TOTAL FUNDS 177.389 (?37.578 } 160.189) During the yedrs to 30 June 2021 and 30 June 2022 the freehold pr()IKrtie5 ivere reidlued by Mr Rogyer Hdll (FNAEA) of Richard Kendalls. this rcvalualion is showing in lunds and will nol bc rcaliscd until aiiy ol. th properti¢% sold. Pagc 14 coniinucd...
THE WEDNESDAY WORD LIMI'I'LD TIl[G AS THE M'EDIYESDAY WORD TRUST NOTES TO THE FINANCIAL STATEMENTS- Lontinued FOR THE I'EAR ENDED 30 JUNE 2024 14. RLLAI'bD PAR'fY DISCLOSURES There were no related party trnnsc1Ctions for the year ended 30 June 21124. Pagc 15
THE WEDNESDAY IVOKD LIMITED TRADILYG AS THE WEDIYLSDAY WORD 'FRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE IfAR ENDED JO JUNE 2024 21124 2023 ILYCOML AND ENDOWMLNI'S Donatlons #nd leg#¢ies Donaiion% 72 624 Other a¢tlvities Membership subscriptions 73.887 (77.956 Investment income Rents reLeTrved RLnlal cxpcndilurc Depo%it dLiollnl inteTesl 32,IIH (18.099) 4,742 33.730 {8,823) 1.259 18,747 26,1 (?() Other income Gilin on sale of tan¥ibl¢ fixed assets (10,063) Total Ineomlng resources 82.643 94.746 EXPENDITURE Raising donations gnd Icg2eies Trusi¢es' salaries SoLial seLiirity P¢nsions InsuranL¢ Tclcphono Posiag¢ and stationery Sundries Ti?velling expen4es Computer software and costs 98.05) 6.448 9,849 424 499 580 716 359 4.979 79.000 2.53(1 4.992 552 588 1.941 121.907 89.616 Other actii'ities PurchasL Rent Bad dcbÉs Ac¢ountancy Trusl Advicc 9.698 7,1)07 5.953 ?03 997 60 1,048 704 18,457 Other Fixlurcs aiid fitliJ)gs 183 ?02 Total rcsourc¢s cxpciided 140.547 97,031 et expenditure (57.gQ4) {2,285) This page docs not fom] part of Ihe stalutory financial slalcments Page 16