North Allerdale Development Trust Limited (A company limited by guarantee) Annual Report and Financial statements 31 October 2024 Company registration number: 06725932 Charity reglstratlon number: 1131992 dOdd&co North Allerdale Development Trust Limited Contents Referenc2 and Administrative D&tails Trustees. report TTUStees' responsibilities in relation to Ihe financial statements Independent examiners report Statement of financial activities Balance sheet 10 Notes to the financial statèments 11 North Allerdale Development Trust Llmlted Reference and Administrative Detalls Charfty namo North Allerdale Development Trusl Limited Charity registration number 1131992 Company reglgtratlon number 06725932 Principal office The Market Hall ChurGh Street WIGTON CA7 9AA Registsred office The Market Hall Church Street WIGTON CA7 gAA Trustees D Phillips, Chair D S Walker, Treasurer and Deputy Chair D M Horton M I Wilson A C Pitcher J R Robinson M S Heaney (Appointed 25 March 2024> (Resigned 12 August 2024) Sgcretary J Robinson CEO S Keaveney Accountant Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estste CARLISLE CA12RW Page 1 North Allerdale Development Trust Llmlted Trustees. Report for the Year Ended 31 October 2024 OBJECTIVES AND ACTIVITIES Objectives and Alms The charity's objectives are.. To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals in North Allerdale who have need of such facilities by reason of Iheir youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. The promotion of the voluntary seGtor for th8 benefit of the public through the provision of advice. support and assistance lo registered charities and voluntary organisats.ons in region of Cumberland. To act as a resource for young people up to the age of 25 living in Cumbedand by providing advi￿ and assistance and organising prograrnmes of physical, educ2tional and other activities as a means ot Advancing the life and helping young people by developing their skills, capacities and capabilitiès to enable them to participate in society as independent, mature and responsible individuals. Advancing education Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infimiity or disability. poverty or social and economic circumstances with a view to improving the conditions of life of such persons. Assisting any charity in the Cumberland area whose aims indudes advancing education of pèrsons underthe age of 25 years. The relief of unemployment in the Cumberfand area in such ways as may be thought fit, including assistance to find employment, In deteTmining the charity'8 activitie5 during the year, the trustees had due regard to the Charity Commlsslon's public benefit guidance. FINANCIAL AND OPERATIONAL REVIEW Grants During the reporting period the Trust has obtained the following grants.. Cumbria County Council Cumbria Youth Alliance Cumbria Youth Partnership Cumbria Community Foundation Cumberland Council CO-OP Local Community Fund Francis C. Scott Charitable Trust Garfield Weston Foundation Heritage Lottery Fund Slreet Games UK Inci UK Foundation We have been very pleased to have been able to wpl¢ome new members to our Patron Club, joining Innovia Films Lld, who were our first Patron, 8re Benson Accountants from Wigton and Arnstrong Watson Accounts from Cartisle. We hope to be able to grow our patron membership over the coming y8ar. Page 2 North Allerdale Development Trust Limited Trustees. Report for the Year Ended 31 October 2024 Resèrvès Policy The Board of Trustees annu811y assesses the risks North Allèrdale Development Trust Ltd could be exposed to and the appropriate level of reserves that we should maintain a$ a result. Financial uncertainties remain with the costs of living crisis and increased inflatio)n,- however, our current forecasts p￿dICt that we will maintain an acceptable target of a minimum of three months in our reserve accounL As of October 2024, our free reserves were £44.100. Trainlng The Twst continue5 to invest in staff by increasing their skills and fijnding training to help make the charity more Sustainable. Training is also made available to trustees. ACHIEVEMENT AND PERFORMANCE This year has once again demonstrated the breadth, depth, and impact of NADT5 WOTk across both universal and targeted youth provision. From long-standing groups such as the Friday Night Project to innovative support programmes like Pitslop and the Eady Intervention Programme, our commitment to nurturing young people remains unwavering. Wigton Market Hall During this financial year our community events played a vital role in str8ngth8ning local engagement and fostering intergenerational Connection. Highlights such as the Santa's Grotto, the first-ever youth market at Tasle of Wiglon, the inspiring Wigton Heritage Exhibition, and the highly successfvl Funbus Gharty evening have brought people together In celebration, remembrance, and support of a shared vision. The launch of the Wigton Community Art Project, with its environmental message and Greative community partiCiP8tion, exemplifies how our work continues to evolve in response to local needs and aspirations. Bookings of the Market Hall continued to strengthen which in tum generated turnover for the café whith also saw an increase In use from our cornmunity. Youth Ser¥lces This year has once again d8monstrated the breadth. depth, and impact of NADT'S wod< across both universal and tsrgeted youth provisions. From long-slanding groups such as the Friday Night Project to innovalive support programmes like Pitstop and the Early Intervention Programme, our commitment to nurturing young people remains unwavering. A highlight of the year was the collaborative short film Think B4 U Speak, created by pupils from Thomlinson Junior School, St Cuthbert'S, and Petteril Bank. Their film was entered into the 15th annual Childnet Film Competition, under the theme 'How would you make the Intemet a better place?. and was awarded runner-up in the national primary category. Judged by representative5 from BAFtA, the BBC, Disney, the British Board of Film Classification, and the Motion Picture Association. A new and exciting initiative was also launched in September, SalteTbeck Youth Group i& our newest provision, established to offer a positive and inclusive environment for young people in the Salterbeck area of Workington. Catering to those aged ￿16, the group meets weekty and delivers a combination of youth work and sports-based engagement. Our now annual Evening of Celebration wa5 held once again at M-sport Ltd with the kind support of Trustee Malcolm Wilson OBE this years Evening of Celebration was hosted in the company's stunning showroom. The event brought together young people. volunteers, partner organisations, and supporters to honour the achievements of our projects. It was also a moment to reflect on individuals we sadly lost this year, and most importantly. to express our sincere gratitude to all who conlribute to the Wofk of NADT. Movlng Forward As Truslees. we remain deeply grateful for the Gontinued dedication and belief shown by our partners and supporters. We see the amazing work that 15 carried out by our leam of youth workèrs and the posltive effect that has on the young people and ￿MMunitieS we selve. Together, we look foMard to another year of meaningful impad. innovation, and inclusion. Page 3 North Allerdale Development Trust Umlted Trustees. Report forthe Year Ended 31 October 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Board Structure Sadly. this year we lost Michael Heaney, who h8d joinèd us as a trustee last year. Micheal had not been with us long. but he believed in what NADT delivered and he will be greauy missed. AGM Our AGM was held at the Market Hall, where we had the oppotiunity to review the great works done by the IJust over the previous year. It was wonderful to see what impacl the trust has had on Ihe community and to see just how many young people had been reached and supported by the activitie5 the trust had delivered during the year. It also gave the board the opportunity to thank the NADT team for their incredible hard worf< 8nd dedication and to celebrate their achievements. GovErnlng Document NADT is a cornpany limited by guarantee and is govemed by tts memorandum and articles of association. Trustees Trustees are appointed by ordinary resolution. Dr at the annual general meeting if nominated by an existing truslee. If appointment is made at the annual general meeting, noti￿ must be given to the chanty of the proposed appointment. Trustees are inducted to the organisation through a process of 5UPPOrt from both existing board members and Ihe Chief Executive Offi¢er. If a trustee takes on responsibility for a specialist area of support to the organisation the extemal trainingfinfDnnatlDn is sought. Trustees on the NADT Board have the specialist responsibilities outlined below.. Denise Phillips, Chair- Liaison 815 areas and support to the Chief Executive Officer Diane Walker, Directorrrreasurer- Finance Malcolm Wilson, Director- Llalson all areas David Horton, Director- Finan Jacqueline, Directorlcompany Secretary- Liaison all areas Alan Pitcher- Director- Liaison all areas on￿OIng training for the Board to increase their relevant knowledge and skills takes place as the need is identified. The charity has one trading subsidiary, Solway Plain Futures limite(I, which was incorporated on 25th September 2009. The charity has identified the major risks lo which it is exposed and has implemented suitable systems and prO￿dureS to manage those risks. The Board will conb'nue to look at the recruitment ot further trustees to increase its caparyty. Governance NADT'S board rolè is to act as the Trust's goveming body. Its principal tasks are to set strategic direction and policy, to ensure delivery of the Trust's objects and to uphold the Trust's values. It is the legal entity that 15 ults-mately responsible for everything that the Trust d085. and it is accountable for the organisation's financial regularity and all other aspects of propriety. As a legal body, It does not get involved in day-te>&day operational issues, but as a small Trust it will often be the case that the board deals with some very 'ground-floorf activity. The role for providing strategic leadership and Policy development rests with the board. Page 4 North Allerdale Development Trust Llmlted Trustees, Report for the Year Ended 31 October 2024 The Board has put in place a support structure to ensuro.. The Trust operates properly on a day-to4ay basis The Trust operates effici8ntly and effectively The Trust staff are led and supported in a clear and effeclive manner The correct detail of infomialion is provided to the board by NADT staff A mechanism is created for stakeholder involvement and feedback Overview of the gUPPOrt structure The stJucture as falls into categories.. Chiéf Executive Officer and staff Project steering groups Chief Executs've Officer and staff remit The Trust board delegates day-to4ay management and operation of the Trust to its Chief Executive Officer. and. through that post, to the staff. Together, the Chief Executive Officer and other stsff deliver against the Trust's agreed business plan and annual targets and manage every aspect of the Trust in line with best practice. Staff are ultimately accountable lo the Trust board, through Ihe Chief ExeGUtive Officer, and report to the board on a regular basis. Staff will also provide infomation. advice and guidance to the board as required. Project steering Groups remit As when projects or special Situations require, as Sub￿roUp1C0mMIttee of the Trust may be set-up to act as steering group. The power to set up a sU￿COMMIttee and delegate powers to it exlsts in Article 3811)-(41 as foll¢)ws'. 38 (1) Th8 Trustegs may delegate any of Iheir powgrs or ftinctions to a committee of Iwo or more Tmstses but fhe t8rms of any deleg8tion mustbe rgcordedin the minuts book. (2) The Trustees may impose Gonditions wh8n delegating, including the conditions that.. - the relev8ntpowers are to b8 8x8rcised exclusivelyby the committee to whom Ihgy deleg8te,- - no expenditure may be incurr8d on beham of the Charity ex¢ept in accordancè with a budget p￿vIOusly agreed with the Trustees. (3) Tre Trustees may revokfj or alt8r a delegation. (4) All a¢ts andpro￿edingS of any committe8s must be fully andpromptly reportsd to thg Trustees. The remit of any steering grouplcommittee includes the dear instruction to: Develop a project idea and present it to the Trust board for consideration and agreement In doing so it must identify a clear funding Strategy. Wrth the support of Trust staff, plan and agree project activity in line with Trust objectives. Monitor the artivity and performance of the project and provide support for its continued delivery. Report all activity to the Trust board. Page S North Allerdale Development Trust Limlted Trustees. Report for the Year Ended 31 October 2024 Structure Trust steering groups are chaired by a Trustee and include at least 2 Tnjstees. As appropriate, extemal advisors and stakeholders can be asked to join the group if necessary. The group will report regulady to the Trust board on its perforrnan￿. Stakeholder Involvement & General Membership At present it 15 assumed that only the original subscribers to the memorandum and trustees who have joined Sin￿ then. are members of the Trust. The Trust board acknowledges that it needs to widen its membership in line with Articles 2 & 3 as reproduced below.. - 2 (1) The Subscribe￿ to the memorandum are Ihe first members of thg Charity. (2) Membership is open to otherinclividuals ororganisations who.. - are Trustee6 who hav8 been appointed in accordance with athclg 26 - apply to the Charity in th& fomi requlrtrd by Ihe Tnjstggs,. and - are approvedby the Tru6ts9s. (3) (a) The Trustees may only r8fus6 an applioafion for memb8r5hlp if, acting reasonably and prop8rly. they considerit to be in the best int9r8sls of the Charily to refuse Ihe application. (bj Th8 Trustees must inform the applicant in writing of thg reasons for the refusal within Iwgnty-on8 days of the decision.(cJ The Trust6es must consider any written r8pr85@ntations the applicant may make about the declslon. The Twstees, decision following any writt6*n representations must be notified to the applicant in writing but shall be final. (4) Membership is not transferable to anyon8 else. (5) The Tnistees must keep a register of names and addresses of the members. Classes of Membershi 3 (1) Every member upon admission shall be allocatsd to on8 of Ihe ft)Ilowing categories of m&mbersbip at the absolute discretion of the Trustees.- (a) User membe￿ shall be members who are organizations which use the facilifies provided by the chaiity.{b) Community membe￿ shall bg members either who live or WO￿ in thg commijnity of benefit or are organisations that meet any of the Charities objects as set out in the Memt)randum of Association. (2) The Trustees may at any time amend a memberfs Category of membership in th& evont of a Ghang8 in Gircumstances and shall notify Ehe memberin question of theirdecision within fourt86n days of so doing. The Trust continues to seek to establish wider stskeholder engagement at various levels, particularly through engagement with and participation local community forums. Small Company provisions This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Approved by the Board Dn 30 June 2025 and signed on its beh811 by.. D S Walker Tn5Stee Page S North Allerdale Development Trust Limited Trustees, Responsibilttles in relation to the Financial Statements The tnjstees (who are also directors of North Allerdale Development Trust Limited for the purposes of company law) are responsible for preparing the Trustees. Annual Report and the financial statements in accordan¢e with applicable law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the Irustses to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitsble company and of the incoming resources and applicalion of resources, induding income and expenditure, of the charitsble company for that period. In preparing these financial ststements, the trustees are required to: select suitable accounting policies and then apply them conslstently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent. state whether applicable UK accou ng standards have been followed. subject to any material departures disclosed and explained in the finan I statements.. and prepare the financi21 statements on."the going concern basis unle55 it 15 inappropriate to presume that the charitable company will Gontinue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time thé financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen￿ for taking reasonable steps forthe prevention and detection of fraud and other irregularities. Page 7 Independent Examlnerfs Report to the Trustees ot North Allerdale Development Trust Limitod I report on the accounts of thé company for Ihe year ended 31 October 2024, which are set cut on pages 9 to 27. Regpe¢tlve responsibiliti95 of trustses and examlner The trustees (who gre glso the directors of the company for the purposes of company law) are responsible for the preparation of the accDunts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 as amended by the Charities Act 2022 (the Act) and that an independent examination ig needed. The tharity's gross incDme exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. Havtng satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to.. examine the accounts under section 145 ofthe Act., follow the procedure5 laid down in the General DireGtion$ given by the Charity Commission under Se￿lOn 14515) (bl of the Act,. 8nd stale whether particular mattèrs have come to my attention. Basi8 of independent examinerfs report My examination was carried out in accordan￿ wtth the General Directions givén by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees Con￿rning any such matters. Th8 procedures undertaken do not prowde all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair vievl and Ihe report is limited to those matters set out in the statement below. Independent examinerf¥ statement In connection with my examination. no matter has come to my 8ttention.' (1) which gives me reasonable cause to believe that in any material respect the requirements-. to keep accounting records in accordanGe with section 386 of the Companies Act 2006. and to prepare accounts which a￿rd with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice= Accounting and Reporting by Charities have not been met,. or {2) to which, in my opinion, attention should be drawn in order to enable 8 proper undèrstanding of the a￿ount$ to be reached. FIFTEEN Rosehill Montgomery Way Rosehill Estate GARLISLE CA12RW ne Thomlinson FCA d & Co Limited artered AGGountants 30 June 2025 Page 8 North Allerdale Development Trust Limited Statement of Financial Actlvltles (Including Income and Expenditure Account) for the Year Ended 31 October 2024 Unrestrlctsd Restrictsd Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Noto Income and endowments from". Donations and legacies Other trading activities Investments Charitable activities Total income and endowments 1,081 5,711 834 172,724 180,350 175,680 176,761 5,711 834 173,634 356,940 144,129 823 561 148,877 294,390 910 176,590 Expondlture on: Chariiable activities Total expenditu 168,990 168,990 147.149 147,149 13,360 13,360 329,499 329,499 307,766 307,766 Net incomel(expendilure) before transfers 11.360 29,441 (13,3601 27,441 (13,376) Transfers Transfers between ￿ndS Net movements in funds 11,360 29,441 {13,3601 27,441 (13,376) Reconciliation of funds Total fund5 brought fomard Total funds carried forward 36.851 48,211 45,579 75,020 1,488,596 1,473,236 1,569.026 1,596,467 1,582,402 1,569,026 All of the Charity's activit188 deriv8 from continuing operations during the above periods. The notes on page5 11 to 27 fomi an integral part of these financial statements. Page 9 North Allerdale Development Trust Limited Company reglstratlon number: 06725932 Balance Sheet as at 31 October 2024 2024 2023 Note Fixed a88ets Tangible assets Investments 11 12 1,477,247 100 1,477,347 1.492.179 100 1.492,279 Current assets Debtors Cash at bank and in hand 13 22,538 107,892 130,430 31,524 53,004 84,528 Creditors: Amounts falling due within one year 14 (11.310) 17,781) Net current assets 119,120 76,747 Net assets 1,596.467 1.569.026 The funds of the charity: Endowment funds 1,473.236 1,486,596 RoStrl¢ted funds 75,020 45,579 Unrostricted funds Unrestricted income funds 48,211 36,851 Total charityfunds For the financial year ended 31 October 2024. the charity was entitled to exemption from audit under section 477 ofthe Companies Act 2006. 1,596,467 1,569,026 The members have not required the charity to obtsin an audit of its accounts for th8 year in questlon In accordance with section 476 of the Act. The d1￿CloTS acknowledge their ￿SponsIbl11￿es for complying with the requirements of the Act with respect to accountsng records and the preparation of accounts. These accounts have been prepared in accordance ￿ the provtsions applicable to Gompanies subject to the small companies regime. Approved by the Board on 30 June 2025 and signed on its behalf by: D S Walker Truslee The note5 on pages 11 to 27 form an integral part of these financial 8t8t8Tnents. Page 10 North Allerdale Development Trust Llmltsd Notss to the Flnancial Statements for the Year Ended 31 October 2024 Accountlng pollcie8 Summary of 3igniflcant accounting policie¥ and key accounting est]mats¥ The principal accounting policies applied in the preparation of the58 financial statements are set out below. These policies have been consistently applied to all the years presented. unless otherwise stated. statement of compliance The financial statements have been prepared in a¢Gordance with Accounting and Reporting by Ch8rities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2Q191- (Charities SORP (FRS 102)), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Ad 2006. Ba818 ol preparation The charitable company meets the definition of a public benefit entity under FRS 102. Ass8ts and Ilabilities are initially recognised at historical cost or transaction value unless otherwi88 Stated in the relevant acwunting policy notes. Golng ¢oncem Th8se financial statements have been prepared on a going concern basis. The trustees assess whelher the use of going con(£m is appropriate i.e. whether there are any malerial uncertainb'es related to events or conditions that may cast signtficant doubt on the ability of the Charity to ontinue as a going concern. The tnjstees make this assessment in respect of a period of one year from the date of approval of the financial statements. Fund accounting poll¢y Unrestricted income fijnds are general fund5 that are available for use at the trustees. discretion in furtherance of the objectives of the chanty. Restiicted income funds are those donated for use in a particular are? or ft>r specific purpose5. the use of which 15 restricted to that area or purpose. The 8ndowment fund represents the value of the Market Hall which was gifted to the charity under a long lease in 2010. Depreciation is being tharged to the fund so as to write off th6 value ofthe fund over the 125 year term of the lease. Further details of each fund are disclosed in note 18. Page11 North Allerdale Development Trust Limlted Notes to the Financial Statements for the Year Ended 31 October 2024 . continued Income and endowments Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perftirmance by the Charity before the Charity is entilled to the funds, Ihe income is deferred and not recogni58d until either those condttions are fully mel or the fulfiltnent of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the administorlexecutor for the estate has communicated in writing both the amount and setdement date. In the event that the gift is in the fomi ot an asset other than ￿sh or a financial asset traded on a recogni8ed stock exchange. recognition is subject to the vslue of the gift being reliably measured with a degree of reasonable accutacy and the title to the asset having been transferred to the Charity. Income from Govemment and other grants. whether 'capital' grants or'revenue. grants. is recognised vthen the charity has entitlement to the fijnds. any performan￿ conditions attached to the grants have been me( it is piobable that the income will be re￿iVed and the amount can be measured reliably and is not deferred. Gifts in kind are recognised in different ways dependent on how they are used by the charity: (i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised. lil) Those donated for onward transmission to beneficiaries are included in the statement of financial activities as incoming resources and resources expended when they are dislrfbuted. They are valued at the amount the charity would have had to pay to acquire them. (iiil Those donated for use by the Charity its8lf are included when receivable. They are valued at the amount the Charitywould have had to pay to acquire them. Where seN1￿$ or faGililÉes are provided to the Charity as a donation that would nomially be purchased from our suppliers. this benefit is induded in the financial ststements at its fair value unless its fair value cannot be realiably measured, then at cost to the donor or the resale value of the goods that are to bfr sold. Incoming resources from tsx reclaims are included in the statsment of financial activities at the same time as the gift to which they relate. Income derived from events is r&cognised gs eamed (that is, as the related goods or services are provided). Investment income is recognised on a re￿1vable basis. Income from charitable activities includes income recognised as eamed (as the related goods or seNt are provided) under contract. Expendlture Liabilities are recognised 25 soon as there is a legal or constructive obligation committing the charity to the expenditure. Ail expenditure is accounted foi on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprise5 those costs incurred by the charity in the delivery of its adivitses and se￿iceS for its beneficiaries. It includes both costs that can be allocated directly to such 8ctivth"e5 and those costs of an indirect nalure ne￿SSary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis Gonsistent with the use of resources, for example, allocating propety costs by floor areas, or per capits. staff costs by the time spent and other costs by their usag8. Page 12 North Allerdale Development Trust Limited Notes to the Financial Statements for the Year Ended 31 October 2024 . Gontinued Taxatlon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corpor8tion tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capitsl gains received within categoriès covered by Chapter 3 Part 11 ofthè Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Ad 1992, to the extent that such income or gains are applied exduslvely to Charitable purposes. Fixed assets Individual fixed assets Costing £100 or more a￿ initially recorded at cosL Depreciation Depreciation is provided on tangible fixed assets so es to write off the cost or valuation, less any estimated residual value. over their expected useful economic life as follows- Plant and machinery 15010 reducing balance basis Molor vehicles 25 % reducing balan￿ basis Fixtures, fittings and equipment 150k reducing balance basis and 3 years straight line basis Leasehold and other interests in land and 125 year5 straight line basis and not depreciated buildings Investments FÉxed asset investsnents represent the nominal share value of the charity's wholty owned subsidiary. Solway Plain Futures Limited. Trade Debtors Trade debtors are amounts due from customers for merchandise sold or services perfonned in the ordinary course of business. Trade debtors are recognised initially at the transaction pri￿. They are subsequently measured at amortised ¢08t using the effective interest mgthod, less provision for impaimienL A provision for the impaimient of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original temis of the receivables. Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tem highly liquld investments that are readily converbble to a known amount of cash and are subjectto an insignificant risk of change In value. Llabilities Trade creditors are obligations to pay for got)ds or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are dassified as current liabilitles if the Charity does not have an unconditional right. at the end of the reporting period, lo defer settlemènt of the creditor for at least Ive months after the reporting date. If there is an unconditional right to defer settlement for at leBst tsvelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction pri￿ and subsequently measured at amortised cost using the effective interest method. Operating leases Leases in whith substantially all the risks and rewards of ownership are retained by the lessor are clas5ifi8d as operating 5eases. Rentals payable under operaling leases are charged in the Statement of Financial Activities on a straight line basis over the lease tsmi. Page 13 North Allordale Development Trust Limited Notes to the Financial Statements for the Year Ended 31 October 2024 . continued Pensions The charity operates 3 defined contribution pension scheme. Contributions are charged in the statsment of financsal activities as they becom8 payable in accordan￿ the rules of the scheme. Finanelal Instruments Financial assets and financial liabilities are recognised when the charity becomes a paty to the contractual provisions of the instrument Financial liabilities and equity instrumeTts are classified according to the Substan￿ of the contractual arrangements enlered into. An equity instrument is any contract Ihat evid8nces a residu81 interest in the assels of the Charity after deducting all of its liabilities. All financial assets and liabilities are initially measured at transaction pric￿ (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are Initially measured at fair value (which 15 normally the transaction price exduding transaction costs), unless the affangement constitutes a financing transaclion. If an arrangement constitutes a ffinanctng transaction. the financial asset or financial liability 19 measured at the present value of the future payment5 discounted at a market rate of interest for a sitnilar debt instrument. Financial assets and liabilities are only offset in Ihe statement of finanual position when. and only when there exists a legally enforceable right to set off the recognised amounts and the Chatity intends either to settle on a net basis, or to realise the asset and settle the liabilty simultaneously. Financial assets are derecognised when and only when a) the contr2¢lual rights to the cash fEows from the financial asset expire or are settled. b) the Charity transfers to another party gubstantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained som8, but not all, Significant risk5 and rewards of ownership, has transferred control ofthe asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 14 North Allerdale Development Trust Limited Notes to the Financial Stat8ments for the Year Ended 31 October 2024 . continued Donations and legacles Unrestrlcted Restrfctsd Endoyvment Total Funds Totsl Fund¥ Funds Funds Funds 2024 2023 Donation? and legacios Appeals and donation5 Gift Aid tsx reclaimed 1,081 10,681 11,762 14.855 1,081 10,681 11,762 14,905 Grants Cumbria County Council Cumbertand Council Kirkbride Parish Council Francis C Scott Charitable Trust Cumbria Youth Alliance Cumbria Community Foundation Co-op Local Community Fund The National Heritsge Lottery Fund Garfield Weston Foundation Vinci UK Foundation SlreetGames UK 11.981 10.954 62,121 200 20,000 20,500 45,979 2,961 62.121 200 20,000 20,500 45,979 2,961 20,000 6,000 47.482 3.275 4.532 25,000 3.000 10,238 164,999 3,000 10,238 164,999 129.224 1.081 175,680 176,761 144.129 Of the donations and legacies income in 2023, £14,474 related to unrestricted fjJnds and £129,655 related to reslricted funds. Other tradlng actlvitie8 Unre$trf¢ted Restricted Endowment Total Funds Total Funds Funds Funds Funds 2024 2023 Fundraising events 5.711 5,711 823 All of the other trading activitss income in 2023 related to unrestricted fvnds. Investrnents Unrestrictsd Restrlcted Endowment Total Funds Totsl Funds Funds Funds Funds 2024 2023 Interest recieved 834 834 561 All of the donations and legacies income in 2023 related to unrestricted funds. Page 15 North Allerdale Development Trust Limited Notes to the Financial Statements for the Year Ended 31 October 2024 . continued Charitsble activities Unrestricted Restrl¢ted Endowmont Total Fund8 Totsl Funds Funds Funds Fundg 2024 2023 Activities Room hire Recharge of utilities 57,845 19,068 95,811 172,724 910 58,755 19,CIS8 95,811 173,634 80,737 4,856 83,284 148,877 910 Of the income from charitable 8ctivities in 2023, £147,715 related to unrestricted funds and £1,162 related to restricted funds. Page 16 North Allerdale Development Trust Limited Notes to the Flnanclal Statements for the Year Ended 31 October 2024 continued Expenditure General haritable actlvltles Total 2024 Total 2023 Dlre¢t costs Community events Purchases Mentoring and teaching materials Employment costs Rates and water Room hire Light. heat and power Insuran Repairs and renewals Telephone and fax Computer sofbNare and maintenance costs 3,407 4,496 12,072 216,793 7,003 1,858 20,386 6,487 11,792 1,116 5,113 3,407 4,496 12,072 216,793 7,003 1,858 20,386 6,487 11,792 1,116 5,113 5,074 7,705 199,161 4,915 10.225 18,176 7,285 8,315 1,336 4,656 E111 Printing, postage and stationery Subscriptions Prizes Training Sundry expenses Cleaning Travel and subsistence Advertising Depreciation of long leasehold propety Depreciation Of plant and mathinery Depreciation of fixtures and fittings Depreciation ofoffice equipment 942 354 15,905 50 234 2,410 1,234 154 13,360 212 289 1,071 326,738 1,373 351 15,115 200 1,042 1.436 1.605 291 13,360 248 341 292 305,036 354 15,905 50 234 2,410 1,234 154 13,360 212 289 1,071 326,738 Support Costs Accountancy fees Independent examin6ls fee Bank charges 1,909 685 167 2,761 1,909 685 167 2.761 1,931 650 149 2,730 329,499 329,499 307,766 Of the expenditure £168,990 (2023 £172,976) related to unrestricted funds, £147,149 (2023 £121,430) related to restricted fvnds and £13,360 (2023 £13,360) related to endowment funds. Page 17 North Allerdale Development Trust Limited Notes to the Financial Statements for the Ygar Ended 31 October 2024 . continued Governance costs 2024 2023 Accountancy fees Independent examine¢s fee 1,909 685 2,594 1.931 650 2,581 Trustees, remuneration and exDen8e8 During the year no trustees were reimbursed for costs incurred in relation to their role a8 trustee. No trustee has received any remuneration from the charity during the perit)d. Net inromel