REGISTERED COMPANY NUMBER." 04617788 (England and Walès} REGISTERED CHARrrY NUMBER: 1130797 REPOFU OF THE TRUSTEES AND UNAUDITED FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR WEST ITCHEN COMMUNITI TRusf UMITED WEST ITCHEN COMMUNITY TRUST LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Statement of Trustees, Responsibilities Independent Examiner's Report ststement of Financial Activities Balance She8t Notes to the Financial Statements 10 to 18 WEST rrcHEN COMMUNITY TRUST UMrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 laARCH 2024 The trustees are also directors of the charity ftr the purposes of the Companies Act 2006. wesent théir reporl with the finanrial statstn8nts of the chariiy for the year ended 31 2024. The trustees have adopted the provisions of Accounting and Reporting by Charit*8: Statement of Recommended Practi( applicable to charities preparing their accounts in aCcOrda￿e with th& Financial RerK)rting Slandard applicable in the UK and Republ￿ of Ireland (FRS 102> {effective 1 January 2019>. STRUCTURE, GOVERNANCE AND f•lANAGEMENT Governing document The charity is ContrdI￿ by its governw)g (k)￿ManL a deed of trust. (x)nstilutes a limited company, limtted by guarantee. as defined by the C4)mpani&s Act 20C6. Page 1 WEST ITCHEN COMMUNITY TRUST UMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recrultment of Trustees Wesl Itchen Ccmmunity Trust uses a wide varfety of methc¥Js to recruit Trustees. Som6 ar8 recruited by word of mouth. or when the appropriate op￿￿nity rises active communty members or Ic)cal business champions may be approathed, rKKninat*)ns are ￿vIed at Ihe Annual General Me8ting rf required and invitations are included within our n&wthtter. The Trustees feel It is Important to have as diverse a board as SSI￿e Snd on& whith reprèsènts Ihè tommunty serve, wilh Ihe appropriate skills to meet the challengos. Currently the board offers 8 Wtde range of bu￿ne&S skills and volunlary seclor experiencÈ. provbdlng excellent suptx)rt to thè Chi8f Executivo. Broadly. all day to day operational dec5sions are made by the Chief Exècutivé 8n¢J the team. At any time he rrtsy call on the particular expertise of individual trustee5 for guIda￿e. The Board Con￿ntrate on the strategic dlrectycffi of the organisation. Often, the Chigf Ex@￿tiv9 and tha Chaim78n will tslk a prospective trustee and then they w￿1 te invited to attend board meetings to ￿nSId suitsbility. New board members are Ihen c(>opted to the LKJard until full electtin at the following AGM. An induction process is in pla￿ to ensur8 the TnASt￿ are equipped the thills, knowledge and und8rstsndÉng ofthelr resrthislbilities for governan￿. Rlsk Management The truslees are satisfied that the major risks to which the Charity is as identified by the tTUStees, are being revtewed. and systems are being established lo mibgate thc6e risks. OBJECTIVES AND ACTivrriES West lichen Comrnunlty Tntst Mission Statsment To be an Indep￿Ident Trust to continue with the r8geller8tion of the Southampton area. to champi(M its needs and to assist Ihe aspirati￿ of the people liviry and working there. To develop th& assets of Ihe Tnst arKI to asstst other co￿lsati1)nS li thè a￿ bid for futsjs ObjectNes: The objects of the Charity ¥e to prOrr￿le any chafitth purrM)se lor th8 b8n8fft ￿l￿pallY of p￿pIe living in Southampton, and its environs, induding: ' The relief of povety and the Improv￿n￿l of the ccfidtvm of Ife those exFeriencirKJ social and ecommic diSadvant￿e.. ' The praservation, conservation and improvement ofthe environmen( ' Developing the ￿Pac[ty and sknlls of the members of Ihe SIX￿lY economtf211y di8advantsg6d community of SOLthaMptr￿ in such a way t￿9t they ale better able to identlfy. and help meet. thelr needs ané to partlcipatè more fully in sociey. ' The promotv)n of rdigious and racial hermony. and Of 4ualty dTr￿￿1ty. Public Benefft The objectrves abové sÈt out our maln xtwities and the people the o)mpany aims to help. All of our charit2ble acllvllles focus on these obiedrves and are undertaken lo further our charltable purposes for tha public benefft. Achlevement and Perforniance West Itchen Communlty Ttust endeavours to achi&ve ￿ miqsion ty offering a settes of S￿viceS that are supported through income generation 8dvlty. this is either commercialty through its propety wrtfolio or by attracting spectfic fundiTrJ. In plannlng the aCt￿llIeS undertaken for the year ahead, thè Ttust consults wtkh tts membership and offers an cyportunty to vote on numerous (*xnmunity I￿n￿rns that can be addressed in line with the mwion 8tstement and obFcbves. Those pmrities are then adopt￿ at AGM. The Trust currenty employs 1 member of stsff and some ￿ntraCted agents to manage and deliver the se￿ceS and deal wth Ihe day lo day operntional issues. 2 memb8rs of staff19ft their role5 in the year &nding 2024. Pag& 2 WEST ITCHEN COMMUNITY TRUST UMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Main dèlwary against the tharitable objectDies is Ihrough Ihe fe4k￿l[￿J. Communitysupport Although WICT are nol ￿rrenty In recebt of grant funding for communty supprt through our community bulldings. 7 of which are freehold owned by WICT. we (k) not tharge e￿sting chatiti* and cornmunity group to occupy those Lyjildings. M(%t have whKh have regular user5 that support the groups within occupation. our own head office numerous cx)rnmunty groups regu1w￿l use the fa(xlities. Aclivltles offered at the centres inciuded, homèwork dubs, M and health and mentsl welkbeirtrj projects aThJ a gardening grtWP. SIDmmary West Itcthen Communty T￿￿t is sbikniro to develcf) its inc¢Th stream thrwgh swnd Invesknent in order to respond to increasing c(xnrnunty needs, while the s6Ctor and Ixmmunilles face 8ignthcar)t austerity mgasures, Increasing infiation and r&lL￿d income. The impact of Covid and the lockdchvns impacted signifKanty on our income stream5. numer of which chariiable cL¥npanls auoilors are unawwe, and each trustee h8S teken all the steps that Ihey ought to have taken as a trustee in order to make ihem aware of any ajdlt Informatlon and to astatr4i5h that the Charitable compan*s aUdIt￿S are a￿le of that information. Audltors It has been agreed that Ihe accoLWts are exempted aLklit this year and as a re5uII have beon independently verified ifLStead. members were nottfièd of tNs ai the AGM in i)ctober 2024. Trys report has beèn prepared In accordance wlth the spe(ial provisions of Part 15 of the C(Jnpanles Act 2ooe fd*ing to small companies. Approved by order of the board of trustees on ... .. .. nd signed on ils behalf b￿. N C Cato- Trijstee Page 4 INDEPENDEiif EXAPIIINER'S REPORT TO THE TRusfEES OF WEST ITCHEN COMMUNrrf TRUST LIMITED Independent examinerfs report to the trustees of West Itchen Communlty Trust Limited (kne Company.) I rèport to Ihe tharily trustees M my exam1r￿1)n ol Ihe accc¥Jnts of the Company for the year ended 31 March 2024. Responslbllities and basis of reP￿t As the charivs tNstees of the Company (and also its d￿eCtorS for the purposes Df company law) you are responsible for the preparation of the accounts in acLxJrdance with the requirements of the Companies Act 2008 Cth8 2LK)6 Acf). Hawng satisfied mys8if that the am)un￿ of the Company are not required to be audited under Part 16 of the 20C￿ Act and arè eligible ft)r iThlependent eXa￿￿natiOn. I report in respect of my examination of your charivs aocounts as ¢xrled out under Se¢Xion 145 of the Charities Act 2011 (Ihe 2011 A￿). In carrying out my 6X8mination I have folk)wed the DirectK)ns given by the Chaiity LA)mmission under SeCt￿9n 145(5) (b) of the 2011 Act. Independent examinerfs ststemÈnt sin￿ your chartys gross inwme exceeded £250,000 examiner must be a m6mber of a listsd body. I (2n C£Jnfim thal l am qualified to undertake the exarrrfnation because l am a mèmber of the InstitLrte of Chartéred Accountants in England 8nd Wales. which is one of the listed Ix)dies. I have completed my examinalK)n. l (xjnfrm that no mattets have cc¥ne to my attenlion In connectron with U exa￿InatiOn giwng me caw to believe: accountwjg rec¥)rds were rK)t kept n respect of the Company &s required by Saction 386 of Ihe 20( Act or the accounts do not accord with those records. or the accounts cb not compty wilh the accoUn￿ng wulrements of Sedon 396 of the 2008 Act other than any r@quir8m8nt that the accounts gve a true aNJ far view which is not a matter Consider￿￿ as P2rt of an independent examination; or the acwunts have not been prepared in 8CC()rdanc8 with the methods and principles of the St£tement of Recommend￿ Pr￿tiCe for 8cenunting and reportiW by charities (appli(xble to charltles preparing thair st￿0U￿￿ in accordan￿ with the Financial Rewrting Slandard applicatAe in the UK and Republic of Ireland {FRS 102)). I have m Con￿rn$ and have come acreés no ￿hftr maiters w) D)nnethon wtth the &xamination to wh￿h attention should be drawn in this reFMxE to enable 8 woFer undèrstandiftg of the accounts to be r88ched. Paul Undetwood ACA Morris Crtxker Chartered Accountants ststion House North Street Havant Hampshire P09 1QU Date: .. Pag& 6 WEST rrcHEN COMMUNITY TRUST UMITED STATEMEPU OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total furKJs Unrestrictd Restricted funds fund Notes INCOME AND ENDOWMENTS FROM other trading activities Investment income 348.484 348.484 326.487 Total 326,487 EXPENDITURE ON haritable activities Other Irading activities Support costs 399.655 9.710 399.855 9.710 379,530 21,693 Total 409,365 Sub totsl (60.876) [60.876) (74,736) Net gainsl{losses) on investments 342,975 NET INCOMEI(EXPENDITURE (403,851) {403,851) (74,736} RECONCILIATION OF FUNDS Total fijnds brought forward 2.548,124 2.548,124 2,622,860 TOTAL FUNDS CARRIED FORWARD 2.144.273 2,144,273 The notes form part of these financial statements Page7 WEST rrcHEN COMMUNITY TRUST UK4tTED BALANCE SHEET 31 MARCH 2024 2024 2023 FIXED ASSErs Tangibla assets InvestmÈnt propety 10 11 824.668 3,355.000 794,687 3.737.975 4.179.668 4.532.662 CURRENT ASSErs Deblo Cash at bank 12 71,338 2.329 96.025 39.826 73.667 135.851 CREDrroRS Amounts falllng du8 with￿ one year 13 (225,372) (182,398) NEf CURREKf ASSErs 1151,705) (46,547) TOTAL ASSETS LESS CURREKr LIABILMES 4.027.963 4,486,115 cRE￿￿oRs Amounts falling dua after rnc*8 than one year 14 (1.883,6￿) (1.937,991) NET ASSETS 2,144,273 2,548,124 FUNDS Ur￿tr￿cted funds 17 2.144,273 2,548,124 TOTAL FUNDS 2144.273 2.548,124 The Charitab￿ company 18 entiled lo exemplic￿ from under Section 477 of the cr￿panieS Act 2008 for the year ended 31 Marth 2024. The members havé not required thè cr)mpany to oLitain an 8Utfit of rls fin8ncial statements for the year ended 31 Mgr¢h 2024 in acy))rdance witt) Section 476 of the Companies Act 20r￿. The trustees ad(no￿edg￿ Ihetr responsibilities fDr (a) ensuring that the charitable wmpany keeps accrwnting r￿S that o)mpty Iffith Sections 386 and 387 of the Companles Act 2CK16 and (b) preparing financia statemènls which give a and fair view of th& state of affairs of the charitable mpany as at the end of each financi81 year ar¥J of its surptus or def￿1 for each firrdncial year in accordance with the requiremerts of Sections 394 and 395 and whlch otherwise compty with Ihe requirements of the Companies Act 2cL16 relating to financial statements. so far as appliGabie to the d)aritabl& ￿mpanY. The ￿1￿5 form part Df these finan(ial statements Page 8 continwl... WEST ITCHEN COMMUNITY TRUST LIMITED BALANCE SHEEf- continued 31 MARCH 2024 These financial slat-ments have been prepared in accordarKe Fthih the provisi￿S applicable to charitable companies subject to the snial companies regime. The fin n alements e 8pwoved ty the Board rA Tw5tees and authorised for i55Ue . and were signed Dn its behalf by. N C Calo- Trustee The notes Torm part of Ihese llnancial Statements EST ￿CHEN COMMUNITY TRUST UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of prepariry the financial statements The financial statements of the that11ab￿ 0)mp￿, which is a public benefft entily under FRS 102, have been prepared in accordan￿ with Ihe Ch8Tities SORP {FRS 102) 'Accounting and Reportir¥J by ChaTities: Statement ¢)f R8comm6nd6d Pr￿tI￿ applicable to tharities preparing Iheir accounts in accordall￿ wth Ihe Financkn81 Reporting Standard Spplitsble in the UK and Republic of Irelané (FRS 102) (effec*Ne l January 2019),. Financial Rewtting Slandard 102 The Financial Reporting Standard applicable in the UK and Reputlic of Ireland. and Ihe C(Knp8nies Act 2006. The financial statements have been prepared under the histcxical ￿5t ￿nvenI]On. as mcTraified by the revaluation of certain a66ets. Income Ail Income Is recognls8d in the Statement of Financial Activities On￿ the charity has entitlernent to the fur￿, it is probable the iThyJmg will be ro(8iv•J and the arn￿nt c2n be rnea￿yed reliab￿. Expenditure L￿bilitieS are recognised as expenditure as soon as there is a bJal or c(Mstru¢Xivè obiig8tion committÉrKJ the chajity to Ihat w&nditur&. it i8 probable that a trarL8fer of economic benefits will be required in setlemenl and thè Sme￿nt of Ihe ob11s￿lI0n csn be measured reliabty. Expenditure is 8ccounbJ for on an ac£ruaLs bas15 and has been cla5Stfied under headings that aggregate all cost reLAted to the category. Where ￿StS c3nnot be ithrecdy atiributed to parbcular headings trey have been allocated to acliwties on a basis C￿sistent with the us8 of resources. Tangible f￿1 assets T2ngibk ffixed assets, other th8n freehold land. are stsled at cost or valuation less depreciation and any provkston for impairmerrt. Depreciation is provided at rates ￿1￿lIat8d to write off th& c(>sl or valu2th)n of 1Sxéd assets, less their estimatsd restdual v8luÈ. over their expected useful lives on the fotlowng basis: FtrAtures 2nd FItt￿S - 25% redLring btlarte basi9 CC￿pUter Equiprrent- 33% reducing baa￿e basis The Trustaes have a poliGy of ci)taining a professional valuat#)n once every three y&ars for tangible fixed assets on a roliTrJ basis. Leasehold property is slat8d at (J)st or valuatti)n less am￿￿saIlO￿. Amorlisation is provNJed at rates calculatèd to vlrito off the cost or valualion of 18as8hold. ovèr 12S yèarg. InV￿￿ent propèty Investment prorety is shown at rmst recent va￿at￿n. Any aggregate surplus or deficit artsing from changes in fair value is reccgnised in the Staternent of Fir￿n(JaI Activ¢tses. Invèstmènt propety is 8ts)wn at most recent valuation. Any aggregate surpkns or deffi(It arising from changes tn falr value is reeAyJnised in tha S12tament of Finanaal Acttvilies. Taxation The char.ty is exempt from ￿[poratiOn lax on its charitsble activities. Fund accounting Unrestricted ftjrids tan be L￿ed in ac£ordance wth the th8[tab￿ t￿led1VeS at thè discr8tion of th& Imste&8. Restrtcted fvnds Can only be used for partI￿lar restricted purpcsses wthin the objects of the charity. Restii¢tions arise vthen specffjed by the donor or when funds are raised for parbcular restricted Furtt)er explan8tK)n of the nattjre and purpose of each fund Is Indudad in the notes to the financial statements. Paga 10 continu8d... W¥EST ITCHEN COMMUNftY TRUST LIMITED NOTES TO THE FIMANCIAL STATEMEKfs - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUfrmNG POLICIES - continued Hire purchase and leasing commilments RentaLs paid under ¢)peratiThJ leases are charged to the Staterr￿t of Financial Activities on 8 straight Sine basis over the pericd ofthe lease. Pension costs and other postryretirement ben&ffts The d)aritsble C¥Jnpany operates a defined Contribution FensIC￿ sch￿ne. Coritributions payable to thè ch8ritabl& ctxnpanls penS￿n are charged to the Statement of Financial Activilles In the period to they relat8. Fina￿la1 inslwments The th8rity only enters into basicfinancial instruments trarnsactions that result in Ihe rec£*gnition of financial assets and liabli tlies like trade and other acry)unts receivable and payable and Investments in slocks and shares. The measurement b8sÈ used for these instruments is detailed belc>w. Debtors and cash at bank Tradè and other debtc45 are rec£gnised at the s&tlement amount due aft&r any trade discwnt offered. Pfepayments are valued al Ihe arThJunt prepaid net of any trade discounts due. Ca%h at bank and in hand indud8d ￿sh heid on deposit or tn a (￿rrent ac£aJurt. Creditots and provi￿On5 C￿lt0￿ and promsions are rec(¥3nised where tr￿ charlty has a p￿nt obligalion resuftirg f￿rn a past event that wlll probably rewlt in the transfer of furKls to a Ihird party and the am¢Junl due to settle the obfigalM)n c8n ￿ measured or estimated reliabty. Creditors and pro1￿10nS 8r8 norrnalty reccgnised at their setherrent amount after allowng ts any Irade discxxjnts due. OTHER TRADING ACTIVITIES 2024 2023 Propety rentsl in¢iKr 348.4PA 326,487 INVESThIENT INCOME 2024 2023 Deposit accouftt interésl All investment ino)me is derived from a￿ts held Wi the United lfjngdom. CHARITABLE ACTrvmES cosrs Support sts Is* note 5> Other trdding actsvities Suwyt costs 399,655 9,710 409,365 Page 11 continuèd... WEST ITCHEN COMMUNITY TRUST LIMfTED NOTES TO THE FINANCIAL STATEMENTS - ¢gntinued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Propety Operations d other Management res(xLrc8s Wages tK)t allocated Govemance to funds Costs Totals Other Érading adivities Support costs 306,634 93.021 399,655 9.710 6.7T5 2,935 6.775 306.634 93.021 2.935 409,365 Suprw)rt o%ts. included In the above, are os fdlows: Management 2024 Support Costs 2023 Total 8ctivibes Accountsncy fees Bookkeeping fees 1.200 5.575 2,000 13,601 6.775 15,601 Property oporaliorts and other resources 2024 Other trading actiwtie5 2023 Totat aclivities Repairs end rrraintenance Cle8ning Staff expenses Hire of plant and rrrdc*in Other operating leases Rates and water Insurance 21.292 10,529 242 3,815 20,847 10,154 1,021 6,695 6,910 34,436 37,626 3,219 E 11 Light and heat Telephone and broadband Computer c¥)sts Bad debts DepreCia￿Tr of tangib￿ fc<8d assets Bank interest Bard( charges Loan interest R8￿U11m6nt costs HMRC interest - PAYE Postage and statiorery Administration expertses 10,136 44,569 8,352 380 25.345 10.798 176 921 99,112 8,640 47,492 10.726 1.154 10.019 2,684 726 151.299 185 536 737 306,634 288,492 Pagè 12 continued... WEST ITCHEN COMMUNITY TRusf UMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENt)ED 31 MARCH 2024 SUPPORT COSTS - continued Wages not allotated to funds 2024 Other trading aGtivities 2023 Tcrt81 actsvits8S Wagos Socual securty Pensions 87.045 4,275 1.701 85,640 4,511 887 93.021 91.038 Gtsvomance costs 2024 Suppc)rt costs 2023 TotsS actNities Audit￿&, rÈmunerdtKsn Legal fees 1,517 1.418 5,920 172 6,092 NET INCOMEI(EXPENDITURE) Net inCA)M￿(6Xp8nd1t￿8) is stated after ¢ha￿1n￿(￿ed1t1r￿J)". 2024 2023 Auditors, remuneratton Depreciation- owne(1 assets Hire of plant and machinery Other operating leases 1,517 10.019 3.815 4,353 5,920 10,798 6,695 6.910 TRusfEES' REMUNERATION AND BENEFrrs There were no trustees, remuneratbn or other benefits for the yèar wded 31 MÈrth 2024 nor k>r the year ended 31 March 2023. TrLths' expenses There were no trustees, expenses pald for the year ended 31 March 2024 Th)r f()r the year ended 31 Marth 2023. Page 13 continued... WEST ITCHEN COMMUN￿ TRUST LIMITED NOTES TO ThE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 PIARCH 2024 STAFF COSTS The average monthly nurrt)er of ernployees dwing the y6ar ￿￿s as folkjws.. 2024 2023 Central Support Staff No empbyees re￿Ned emolurnents in e￿sS of£60.000. The Exe￿lIVe Ma￿gerr￿nt Team cx)mprises a CEO. The total employee benefrts Df the key management wEonnel (including Empk)yers Nat(sr*l Insuran￿ Contsibutions) were £52,285 {2023: £59.864. COMPARATIVES FOR THE STATEMEPIT OF FINANCIAL ACTIVITIES UnrestriGted Restricted fvnds fund Total funds INCOME AND ENDOWMEKfs FROM Other trading activiti88 326.487 326.487 EXPENDrruRE OM Charitable activitiès Other trading athibes Suptjort costs 379,530 21.693 379.530 21.693 Tolal 401,223 401.223 NEf INCOMEI(EXPENDITURE) Trdnsfers between funds (74,736) (74.736) (26,0801 Net movement In funds (48,656) (26,080) (74,736) RECONCILIATION OF FUNDS Total furKls bfought forwaryj 2.596.7e 26,080 2,622.860 TOTAL FUNDS CARRIED FORWARD 1548,124 2,548.124 Page 14 ontinued... WEST rrcHEN COMMUNITY TRUST LIPAITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 10. TANGIBLE FIXED A8SErs Fixiures and frttings Lor¥J leasehokl Computer equipment Tolals COST OR VALUATION At 1 April 2023 Revaluations 805,000 40.000 67.153 26.7 898,943 40.000 At 31 March 2024 845.0 67.153 26.790 938,943 DEPRECIATION At1 April 2023 Charg8 for year 54,395 3.189 26,581 70 104,256 10,019 6,760 At 31 March 2024 30.040 57.584 26,651 114.275 NET BOOK VALUE At 31 March 2024 814.960 9,569 139 824,668 At 31 March 2023 781.720 12.758 209 794,687 The long lease￿Id properties are stated at valUati￿S obtain6*J in January 2024. The ￿lgInal cost of the leasehc4d properties wa5 £760,CAX). 11. IPIVESTMETrtr PROPERTY FAIR VALUE At 1 April 2023 Revaluation 3.737,975 (382.975) At 31 March 2024 3,355.000 NEf BOOK VALUE At 31 March 2024 3,355,000 At31 Marth 2023 3,737,975 The InvestrrÈnt woFerttes were valued in Janalry 2024 based on the fair m*ket value and taking into a(zount the rental market at that tiTh_ Primmer Olds BAS Chartered Surveycrf5 revalued the 1nyesttr￿nt protXTties. Th& Drigin81 cost of the freehold 1rNeSt￿nt properties were £1.462,500. Page 15 ntinued... WEST ITCHEN COMMUNITY TRusf LIMrrED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDEO 31 MARCH 2024 12 DEBTORS: AMOUMf6 FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade d8blors Other debtors Prèpayments and accrued income 60,296 10.786 256 92,109 2.￿8 71,338 96,025 13. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank Foarks and overdrydfts (see note 15) Trade credltc)rs Scraal security arKI other laxes VAT Other creditor8 Accruals and defe1￿1 irthme .904 15,715 10,093 14,977 1,677 86,OC 58.537 1,933 4,899 13,141 215 103.673 225,372 182.398 14. CREDITORS.. AMouKfs FALUNG DUE ￿ER MORE THAN OME YEAR 2024 2023 B8nk loans (see not& 15) Other credltors 1,807,094 76,596 1,861,395 76,596 1.883, 1.937,991 15. LOANS An analysis of the maturity (*108ns is given bellw. 2024 2023 Amounts falling due withln one yearon denwKI: Bank overdrafts Bank loans 39,348 57,556 58,537 96. 58,537 Amounts falling betsveen one a￿1 years: Bank knans- 1-2 years 57.556 58,500 Amounts falling due b8tween I4￿) and y￿. Bank k)ans- 2￿ years 172,667 1.802,895 Amounts falling duè in more than fve ￿r￿. Repayable by instslments: Bank loans more 5 yr by inslal 1,576,871 Page 16 c0n￿nUed... WEST ITCHEN COMMUNITY TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. ANALYSIS OF NEf ASSETS BETWEEN FUNDS 2024 Total fLinds 2023 Total funds Unr8stri(I8d ReS1rir￿ed f￿dS fur Fixed assets Investments CUr￿nt assets Current Itabili1ies Long term liabilities 824.668 3.355.WO 73.667 {225,372) (1.883,690) 824.668 794,687 3,355.000 3.737,975 73,667 135.851 (225.372) (182.398) (1,883.6￿) (1.937,991) 2.144.273 2.144,273 2.548.124 17. MOVEMEbrr IN FUNDS UNRESTRICTED FUNDS Revaluatlon Reserve The Revalualion Reserve reptesents the surplus on fèvaluation of the investrnent property subs9quent to the amount originally r8coJnised on acquisi1￿)n. PURPOSE OF RESTrICTED FUNDS P8oples Health Trust Northam Th@ People's Heath Trust has funds allocated for deveknping a kral area plan ￿￿thIn the Health Shap6 Local Society Area for ¢omnwnity 8ngagement were not spent at the end of the year and these are carrie4Y fo￿rd to the next financial year. Péoplés Health Trust St Mary's People's Health Trust St Marfs grant has fl￿￿lS allo(aed for development c< the community in this area and tepresents fijnds left at the end of the year. These ¥e carrled fO￿ard to tt)e next financial year. High Street Renewal Award The Huh Street Renewal Fund has funds alloeated towards the regeneration of the High Strèet in Northam Road vthich were not spent in the year. These are carr￿d fo￿•￿￿ to next fir￿nCIal year. Chancgs For Change The Chances 4 Chang8 has ffiJTr￿s all(￿ated for sports and horti(￿ltur8l projects. There was a small overspend at the yeaf*rKI which VAI be cwried forward at prèsent in lieu of potentsl further fithKllng for thi5 proj& Health Promotion Th8 grant is restricted to prorrnts heahh tn the ￿MmUnty and suOu$ will be carried foNard at the year end. Champions Forum Charnpions forum grant vras recewed to reczuit and traTn eornmunity street champions and fvnds not spent at the end of the year are carTied forward to Ihe next financrdl year. Fundg held for NRA This represents funds held for Newltrwn Resident ASS￿181￿)￿ to be used for rÈstrlcted purposes and any funds left at the financial year end will bg cxrrt8d foThwd Coastal Communilies Funding ts being ￿VanCed to pr0￿Cl$ in the Northatn area which will be met by granl fvndiny in arrèars or covered by the Northam PFff grdnt fund. Any stYphJses that artse wll be ￿rried forward. pa￿17 r))ntinued... WEST rrcHEN COMMUNtrY TRUST UMITED NOTES TO TrIE FINANCIAL STATEMENTS - contlnued FOR ThE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- ¢ontinuod Fitness Champions This represents the remaining grant from chan￿ 4 Change to be used spectficauy for fitness end any funds hetd at the finaneial year end will ￿ carri8d forward. Gard&ning C4C G8rdening C4C aré funds granted for the ¢>Jnynunal garden projects. Funtjs left 81 end of the financial year will be carrfed foThvard. Priory Road This fund rèlates to costs for a ILmcheon club and costs inC￿rred. There are no surplus funds at the y8ar 8nd. Transfer5 between funds During the year all Restrt¢Xed fvThJs were transferred tc> the General Unrestricted fund. The funds wer8 r&stricted by thè chariiy rather than the funder and when the supwrt staff were made redundant it was agreed by Ihe charity that the funds sFM)ukl be taken back into unrestricted fu￿$ for use for gerEral rathw than Specif￿ charilable activtbes. 18. OTHER FINANCIAL COMMITME1￿s The tharlly has minimuffl lease payrnents under n0￿Can￿lIable operating le8se falliTh3 due: 2024 2023 Within one year Aft£r more than on8 year 8,700 8.700 4,350 8,70D 13,050 19. RELATED PARff DISCLOSURES The CEO of Ihe tharfty. RKhatd Har*vood. recewed an tnterest-fr88 traval loan from the charity during the year. Thè amount advanced to hTm during the year was £3.242 (2023: £2,954) and Ihe amount OLrtstanding at the end of Ihe y8arw8s £104 {2023: £1.358 20. ULTIMATE CONTROLUNG PARTY The charilable ￿MpanY not under the control of another entity tr any onè Individual. Pa￿ 18