Company registration nurrtber 06953564 registsatifyj number. 1132484 Dawn to Dusk (Worsthorne Primary) Ltd (A cornpany limited by guaranlce) Annual liepon and Finan¢ial Statemeots for ihe Year Ended 31 August 2020 Macmahon Legga Chartered Accountsnts Charter Hou5¢ 18-20 Finsley Gate Bumley Lancashire BBI 12HA *A46208L44 191W2021 COMPANIES HOUSE A13 #142 Dawn to Dusk IWTrrsthorne Primary) Lta Contents R¢fuence and Administrativc Ddai15 Tru$te¢s' Report 2to3 Siaremeni of Trnsttts. Respo[￿ibili1les Indepeodeni Examine¢$ Repon Stsiement of Financial Auiviiies Balance Sheet No¢es io the Firtan¢ial Sthiements 8t016 Dawn to Dusk (Wor5thorne Primary) Ltd Reference and Administrative Details Trustees L YouThg L Holden Prin¢ipal Office Worsthorn¢ Primary School BrO1￿￿lde Rd Bumley Lan¢s BBIO 3LR Company ReEis¢r*titsn Number 06953564 Ch•rlty Rtgtstr*tloA Number 1132484 IDdependent Ex*mineT Macmahon Leggate Chartered Accounrants Charter Htsuse 18-20 Finsley Gale Burnley Lajthite BBII 2HA Page I Dawn to Dusk IWorstborDe Primary) Ltd Trnst¢es' R¢w•rt The irv4e¢s, wl*) are directors for the PUfFrf)ses of company law. preseni the annual report together with the finan¢ial statements of the charit￿1¢ company for the year ended 3 1 Augum 2020. Obj¢¢¢ivt$ and activities Public benefil The trustee5 contirm thai they have wmplked with the rcquirements of se¢¢i¢)n 17 of the Chariii¢S Act 2011 to havt due regard io the public benefii 8IILdance published by the Charity Commission for England and Walt5. Fin*n¢i*l instruments Objeclives •vdpoli¢les The ¢h)rity'$ o¢tivities ¢xpose it to a num￿ of financial risks including ¢redit risL ¢ash now risk and liquidity risk. The use of fjnancial derivatlVe5 is governed by the chatiiy's ￿lI¢JeS approved by the board of tru$teeg whi¢h provide writien prin¢iple$ on the use of finaThcial deriwdiive5 to manage th¢s¢ risk& Th¢ tharity does not ust deiivative financial instruments for 5peculativc purp)s¢* CrtshJ7ow risk The ¢harity's activiiies exrxise it wimarily to the financi￿ risks of changes in foreign cwrtncy exchange rates and interest rdtts. The Ch￿[Y uses fO￿lg￿ ¢xchan8e forward contracts and interesi rate sw41 ¢ontra¢ts to hed8e (hese exposures. Interest bearing &55ets and liabilities are held at fix¢d rate to ensure certainty of cash flows. Cr¢dii risk The charity'5 principal finan¢io1 assets are bank balances and Cas￿ trade a[￿ other rcceivablcs. and investynents. The ¢harity'S credit Tisk is t*imarily attributable io its trade receivables. The amounts Ptesenied in the balance shcet r¢ nei of allowances for do￿￿￿j1 receivables. An allowanc¢ for impaimieni is made wher¢ ihtre 15 an idcntified loss event which, based on previous expvien¢e, is ¢vidence of a reduciion in the recovernbility of the ush flows. The credil risk on liquid tunds artd derivarive financial instruments is limited be¢aus¢ the ¢oun*tyarti¢s are banks iyith high credii-rniing5 assigned by intern*10n￿ ¢redit-iaiing agencies. The chariiy has no signifi¢ant COthcentr*ion of eredii ri5L. with exposurc sprc*l over a large number ol counterpartie$ and eustomets. Page 2 Dawn to Dusk (Wors¢horne Primary) Lid Trust￿5, Report Llquidity ris In order io maintsin li4uidity to ensu￿ that ￿ffIcient funds arc available for ongoing opcratiorts and fvture developrnenls, thc charity uscs a mixturc of long-temi and 5hort-ternJ debi finartt. Further delails regarding liquidiiy risk. be found ID lh¢ SLitrment of accounting poli¢i¢s in the finaThcial statcments. The annual report was approved by ihe trustres of the eharrity t)n 30November 2020 and signed on its behalf by". L Holden TIu5t¢¢ Pa8e 3 Dawn to Dusk (Worsihorne Primary) Ltd Statement of Trnsttts, Respousibilities The trustees (who are also the diTrf¢ors of Daivo 10 Dusk (Wothm¢ Primary) Ltd for the purwses of company law} are responsible for pr¢partng the trustees. rerM>n and the financia] stsiemeThts in accordance ¥virh ihe Uniied Kingdom Accoun¢ing Standard5 (Unitcd Kingdom G¢nEtally Acc¢￿ed AcmuntjllB Practieel and applirable law and regulations. Company law require5 the truyees io prepare financial statements for fdch fknancial yeaT. Under company law the trustees mu51 not approve the financial statrments unless they are S*isfied that they 8iv¢ a tnje ond fair view of ihe 1¢¢ of affairs of ihe Charitable ¢ompany and ol Jts incoming wesowces and application of wurces, including its ineome and expenditure. tor thai period. In preparing these financial ststements, the trY￿e¢S are required to: select suitable ac¢ouniing policie5 a￿d apply them ¢onsi5tently- observe th¢ m¢thod$ and Principles in the Chariiits SORP. make judgemenis and emimates Ihat are re&8oThable and prudent; state whether applirable UK Accounting Standards havt bcen followc￿ subjett to any material d¢pkrtures dixlostd and explatned irt the financial statements.. and prepare the fiThanc1￿ statements on the going ¢on¢ern basis unless il is ithappropriate to presume thai the charitable Company will conlinue iTh busines& Th¢ trusiees are responsible for keeping adequate accouniing reconts ihat are suffjcient lo show gmd explain the charitable company's tTall5actions and disclos¢ reasonablc a¢¢urn¢y ￿ ony lime the financial position of Ihe Charitable compaThy and enable them io ensure that the flnancial ststemenr5 comply with the Cornpanie5 Act 2006. They afe a150 responsiblc for 5afcguaTding the assets of the charitable cornpathy and hence for takin8 rtasonablt steps f¢)r the prevention )nd detettion of fraud and other intgularities. Approved by the tru$1¢¢5 of th¢ tharity on 30 November 2020 and signed on its ￿haIr by.. L Holden Trustee Pa8e 4 D8wD to Dusk Iworsthorne Primary) Ltd Jndependent Examiner's Report to the trustees of Dawll to Dusk (WoTSthorlle Primary) Ltd I report to the charity tTu*e¢s on my ¢xamir*tion of the of the ch￿lty for the year endtd 31 August 2020 vhich are set oui on pages 6 10 16. R¢sptttivt rtsponsibilltles of trusttes and ex#mther As ihe chaTiry'S trusiees of Dawn io Dusk {WorMhome Primary) Lld land also 1¢$ directo￿ for the PUTpose$ of ¢ompany lawl you are responsible for th¢ prepartion of the ￿¢￿n[S in a¢¢ordao¢e ivith the requiTem¢t)is of th¢ Companies Act 20061.ihe 2006 Act'l H&¥ing saiisfied myself that the accounts of Dawn io Dusk {WoNhome Primary) Ltd not required lo be audited under Part 16 of the 2(M)6 Aci and are eligible for independenr examination. I report in respect of my examination of YOUT ¢harity'S a¢covnts as carried oul uthler 5C¢iion 145 of the Chariiies Act 2011 ('tr* 201 l Act.). ID catrying 0￿1 my examination I have followed Iht Directions &iven by the Charity Commission under section 145lSllbl of the 2011 Acl. IDdepeodent exami•er'5 Staternen¢ I have ¢ompletcd tny examination. I confirn ih* maners hav¢ come to my att¢nLion in conne¢¢ion wilh th¢ e.xaminarion giving me cause io beltevt.. occouniing records WeTE noi kepi in rt5pecl olt*awn to Dusk {Wor5th¢)rne Primary) Lid Is required by se¢tion 386 of the 21M)6 Act. or 2. the accounts do not accord ivilh those record5. or 3. the aceouoi$ do r)ot comply with ihe a¢¢ounting requirements ols¢¢iion 396 of the 2006 Act ￿her than aThy Tequircmcni that ihe accounrs give a 'irue and fair viw. whith is rhoi a matter considered a5 part of an iThJepend¢ni eKamin8tioo' or 4. Ihe accoun15 have noi been prepared in aCcorda￿e ivith the methods and principle5 of the Siaiemeni Of Recommended Pwiice for aceouniing and rewjrting by chariiies lapplicablc io charitie5 preparin8 their accounts in accordanct with the Financial RetM)rting Slandard applicable in ihe UK and Republic of Ireland IFRS 102)]. I have concerns and have comc acros5 no other matters in conneciion with ihc examinaTion 10 which aueniion should be drai￿￿ in thi5 report in ord¢r io enable a propcr und¢rstsndiog of the accounts ¢0 be r¢a¢h¢d. Richard Ro son FCA Charte￿d Accountartts Macmahon Le&gate Chartered Accountants Charter House 8-20 Fin51ey Gate Bumley Lant￿hire BBII 2HA 30 NOveM￿r 2020 Pa8e 5 DawD to Dusk IWors¢horne Primary) Ltd Statement of Financial Activities for the Year Ended 31 August 2020 (Including Jn¢ome and Expenditure A¢¢ount 2nd Statement olTotal Recognised Gains and Losses) Unrestricted funds Total 2020 Note lueome atsd Endowments from: ChaTitable a¢tivi¢ies 29.043 29.043 Total incom¢ 29,043 29.043 Expenditure on: Charitable activities Other expenditure {33,366) {14,971) (33,366) (14,971) Totol expenditure {48,337) (48,337) Nei expendiiure 19,294) 19.294 Nei movement in fvnds (19.294) (19.294) R¢¢ontAllatlott offunds Total funds brought fonwd 45,762 45,762 To¢al fvnds ¢arried foThYard Unrtstritted Iwnd5 2019 Note Income and EDdoTwJnents fro￿. Charitable activilies 48.89) 48.895 Total in¢om¢ 48.895 Expenditure on: Charitable activiiies 145.731) 45.731) Total expenditure 145,731) {45,731) Nei income 3,164 3,164 Nei movemerti in funds 3.164 3,164 Reeonciliation olf¥nd5 Tothl funds brought fonvard 42.598 42,598 Total funds carried fon¥ard 45,762 45.762 All of ihe chaTity'S activities derive from continuing opeTations during the above ts¥o period& The tunds breakdowm for ?019 is sho￿￿ in note I l. The notes on pages 8 10 16 form an iniegral part of these financial statements. Page 6 DaTvll to Dusk (Worsihorne Primary) Ltd (Registration number: 06953564) Balance Sheet as at 31 August 2020 2020 2019 Nole Current assets Cash at bank and irt hand 30,197 50,503 Credit￿$.. Amou#ts fAlling dut within otte yea 10 3,7291 4,7411 Net assets 26,468 45,762 Fwnds ofihe charity: Unr¢5trirtd incornt fuTrd5 Unre5trided fundg 26,468 45,762 Total tuThd5 26.468 45.762 For the financial year ettdin8 31 Au8USL 2020 the charity eniiiled to exemyion from audit under Section 477 (tf the Companies Act 2006 relati￿ to sma]l ¢ornpanies. Directors, rtsponsibilities: The members have not Tequired the tharity to obtsirt an aLKlit of its accounis lor the yetsr in question in accordanee with 5cciion 476., and The directors acknowledge their Teswjnsibiliries for comptying with the requirements of the Aa with rt5pect lo accounting records and the preparniion of acc(rt￿ These accounts have been prepared in attordance with the pmvisions applicable to wnpanie5 subject to the small ompanits r¢gim¢. The finarKial 5tatemeThts on page5 6 to 16 urre approved by the trumees. and authorised for issue on 30 Nov¢mber 2020 and signed ott ¢heir behalf by= L Holden Trustee The no¢c5 on pag¢5 8 10 16 fornl an inlegra] part of these fjnanciaj *atements. Page 7 Daivn lo Dusk {Worsthorne Primary) Lid Notes to the FinancRal Statements for the Year Ended 31 August 2020 I Charity sl&itU5 The chaTity is limited by guarani¢¢. in￿rp0￿cd in and ¢onsequ¢nily does have sl1￿ ¢apitsl. Ea¢h of the trustees 1$ liable ￿ contribuit an amount no( txcttding £Nil Lowards tht of the charity tn the evenl of liquidation. Thc ad(ke55 of irs registered office is= Wor5thome Primary School Brownside Rd Burnley Lancs BB103LR These financial statements were auihorised for issue by the tTustre5 on 30 November 2020. 2 Accounting politits Susnmary of 5ignifit8nt ¥crounlinE politics key ¢Siimales The principal accounting poli¢5¢s applied in the preparntion of these fJnan¢ial sthtemenrs are set out below. These poli¢i¢s have been consistently applied to all the years PTe5ented, unless OtlThise stated. Stattmtnt of c•mpliantt The financial $iaiemtnts have bttn prtpared in accordance with Aecourttirtg and Re￿rtIng by Chariiics.. Statement of Recommended Praciice applxcable to charities preparin8 their accounr5 in accordance with the Financial Reporting Standard appli¢abl¢ in th¢ UK and Republic of lrtland {FRS 102) {effe¢tiv¢ l January 20151 (Charities SORP IFRS 102)), the Firtanci￿ Reportin8 Standard applicable in thc UK and Republic of Jreland {FRS 102). They also comply wilh the Companies Act 2006 and Charitics Act 2011. Basi5 of preparation Dawn io Dusk {Worsthorne PTirnary} Ltd Meets the definiiion of a pvblic benefit entity under FRS 10? Assets and Ii4Lbilitie5 are initially Tecognised ai historical CO￿ OT trJnsa¢tion value unless otherwise stated irb the relevant accounting policy notes. Coing tott¢¢rn The trusttts ¢onsider th)¢ th¢r¢ ore no mat¢rio1 wi¢ertainties abwt the ¢harity's abilily to continue as a going concern nor any si8nificanL areas of uncenainLy IhaL affec( Ihe carryin8 va]ue ot'assets held by the charity. Exemption from préparlttg # txsb flow $ts¢¢thtnt The ¢harity opied 10 early adopt Bulletin I published on 2 Febw 2016 and have therefore not included a cash flow statement in these financial $￿tementS. Page Dawn to Dusk (Worsthorne Primary) Ltd Notes to the Financial StstemeDts for the Year Ended 31 August 2020 Income and endowJnewts All incoming resources are included on the Statcmcnt of Financial Activities whcn the charity is legally eniiil¢d to the iThCLwne and the arnount ¢aJ) be quantified ivith reasonable a￿u1¥y. In¢ome represents fees and other incorne reccivablc durin8 the year. Exptnditurt All expenditure i8 reco8nised (￿ce there is a legal or consknjctive obligation EO that expenditure. it is prob&ble 5ettlernent is required and ihe arnount Can be measured reliably. All ¢tssts are allo¢ated to the applicable expenditure heading tha¢ aggrtgaie similar Costs to thai c￿e80ry. Where eosLS cannot be directly attributed to particular heading5 they have been allocated on a b￿lS consisieni ivith the use of resources. with centraj staff COSTS all0¢￿ed on the basis of lime spcnt. and depTecialion charyes aJlo¢akd on pcrtion of the asset's us¢. Othel SUPPOrt ¢osts ar¢ allo¢ai¢d based on the spread of staff eosts. Ch4rfi*ble •¢rtvide$ Charitable expenditure comprises those costs IncU￿¢d by tht chariry in the delivery of it5 activilic5 and 5ervice5 for ir5 beneficiaries. It include5 both costs that can bc aJl¢xated directly to activities aTwJ th¢)se costs of an ir)dire¢i nature necessary to supptsrt ihem. Supwrt co$ts Support costs includ¢ fijnctions and have been allocated to activity cost caregories on a ba52s ctsnsistent iviih th¢ use of re50urce5. for ¢xampl¢. allocating property costs by floor areas. tsr upita. staffcosts by the lime spent artd other costs by their usage. Gov¢rn4ts¢¢ costs These inelude the costs altributable to the chariry's compliance with consiituiional and stst￿ory requirements, including audit. #Negic managemenl and tn￿tt5.5 rn¢¢tiry arhd reimbu￿￿ ex￿. Taxatio The charity is considered 10 pass the iests M out in Paragrnph I Schedule 6 of the Finance A¢t 2010 artd therefore it meets thc definition of o charithble cmpany for UK corporation t&x purrx)ses. Accordingly, the Charity is poieniially exempt from I￿allOn in respect of income or capiial gains received within categorits covered by Chapter 3 Part I I of ihe Corporation TaN Act 20IO or Sectiorb 256 ol-lhc Taxation of Chargeable Gains Acl 1992, to the ex￿nI ih su¢h in¢ome or gains a￿ applied ex¢lusively w charithble pu0￿¢& Depr¢¢lAtlot) and *mortts*tlon Dep￿ciall0￿ is provided on Lingible fjxed assets so as ￿ wri* off th¢ ¢ost or v￿U*ll￿rt, less any esumaied Tesidual vaiv, over their ¢xp¢¢ted useful ¢wnomic lif¢ as follows.. Assti el*ss Office equipment Fixtur¢s and ftllings Dtpreei#tiott method rgte 25% straighi line basis 20Y• Straighi lin¢ b&sis Pa8e 9 Dawn to Dusk {Worsthorne Primary) Ltd Notes ¢0 tbe Financigl Statemenls for the Y￿r Ended 31 August 2020 Cash and e8sh equivalents Cash and c&8h equivalents comprise cash on hand and call deposits, and other 5hort-terni highly liquid investments thai are readily convertible io a amouni of Cash and are subject io an insignificant risk of ¢hange in value. Trade creditor5 Trade creditors are obli8aii¢Jns to pay for goods or services that have t*en acquired in the ordinary course of business from suppliers. A¢CO￿nts payable are classified as curreni liabilities if the charity does not hav¢ an unconditional Tigh4 ai the end of the reporting period. to defer scttlemetti of th¢ ¢r¢diror for at leasi iwelvt month5 after the reporting datc. If ihere 15 an unronditionol righl to defer sellltmenr for ai I￿$t iwelve months afier the reporting date. thcy are presenied as nonrycuftenl IAbiliiies. Trade creditors are recognised initially ai the transxtion price and subsequently measured at amortised c05t Using Ihe effective int¢r¢st mcthcxl. Borrowint$ Int¢resi.beaTing borro1￿￿85 are iniiially rttorded at fair value. of transaction tosts. lrtiere#-bearing borrowin85 are subsequenily carried at amorti￿d cost. the difference beiiv¢en the proceed5. net of trdnsaction cosrs. aThd the amount due on redempiion beirtg recognised as a charge ￿ the S￿eM¢Tht of Financial Activities over the p¢riod of Ihe relevant borrowing. Intercst eypense is re¢ognis¢d on the b¥is (tf the effective inierest rncthod and is included in inier¢sL payable and similar charges. Borrowings are clwifjed ￿ current liabilities unle55 the tharity has an urfondilionai ri8ht io defer settlement of the liability for at le&%t twelve months aftu thc reporting date. Fund $tru¢lure Unre51riaed income fvnd5 are generaj fvDd5 that are availabl¢ for w at the discrtlion in fi]rtheran¢e of the objeciives of ihe Charity. Finantial in$tr¥mt*ts Clossificotson Financiaj asset5 and financial liabililies ar¢ rt¢ognis¢d ivhen the chariry becomes a party to the cofttrdctual prov15i0n5 of the instnjment. Financial liabiliiies and equiry instruments are classified according to the substance of ihe conirncrual arrangements entered inio. An equity insirument 15 any ¢onira¢i tha¢ evid¢A¢¢s a r¢sidua] iThLeresi ITh the assets of the charity after deducting of its liabililies. Page 10 Dawn to Dusk Iworsthornt Primary) Ltd Noles to Ibe Financial Statements for the Year Ended 31 August 2020 Reco8llltioll rtndmeftsmremenl All financial &ssclS and liabiliiies are initially measured at tyansadion prirt (including iransa¢iion c05ts). except for those financial assets ¢iassified as at faiT value through profit or loss, which are initially me&sured at fair value (w41ich i5 norrDJly the trattsaction price excluding transaction costs). unless ihe arrangement consiiiute5 a financing transaciion. If an arrangemcnt con5tibJies a tinancing tra￿[10￿. Ihe fJnan¢ial assei or financial liability is measured ai the presenl Y￿u¢ of the future paymeots discounied at a mwket rate of inierest for a similar debt instrurneni. Financial *sseLS and liabiliiie5 are only offset in the ststemcnt of financial position when. and only when there exists legallv enforceable right to %[ off the TecognIs￿ amounts and the Charity intends eiiher io settle on a basis, or to re￿ist the assei and settle the liability simultaT￿ls1y. Financial assets art d¢r¢rogni5ed whrn and only ivh¢n a) thr fODtra¢tUo] rights to the flows fmm the financial sset expire or are settled, b) th¢ Charity translers (o another party substaniially all of the risk5 and reward5 of ownership of the financial &ssei. or c) Iht charity. de5piie having reiained some. but not all. signific￿1 risks and rewards of ownership, has transferred control of the assd io aTh)ther patty. Financial liabilitie5 are dcrecogni%d onty whcn thc obligalion spccificd in the contract is discharged, ¢an¢¢lled or expire& Page 11 Dawn lo Dusk (Worsthorne Primary) Lid Noles to the Finalleial Staiements for the Year Ended 31 August 2020 De￿ I￿Struments tkbi instruments whi¢h meet the followng ¢onditions are subsequcntly rneasured at amortised cost using ihe effective inierest meth(Ml.. (a) The contrartua] rcturn ￿ the holder is (i) a fixed amount. lil) a posiiive fixed rate or a p051tivc variable raie.. or (iiil a Combination of a po$itive or o negative flxed rate and a ￿sitive variable rtte. (bl The conirdct may provide for rcptyrnents of the PTin¢ipal or the return to the holder (bui n¢X knihl to be linked io a 5ingJe relevant ob5¢rvabl¢ index of 8enets] piice inflation of the currency in which the debt in5trnrnent 15 denorninaied. provided such links are not leveraged. Ic) The conifd¢t may proyide for 0 deiemil￿ble •Ari*ion of the rtum io the holder during the life of the instrumenL provided that li) the new rait satisfies condition (a) and the variation is not contingent on future events Other than (l) a change of a conrrncrual variable rdt¢' {2) to prorcct the holder againa credit deteriortion of the issuer-13) change5 in levies applied by a ¢entral bank or arising from Changes in relevani ttKation or laiv. or{ii) Ihe r￿W rate is a rnaTket rnle of interest and satisfjes condiiion {a}. Idl There is no ¢othtrd¢ttJal proviston that cwld. by ils krn)s. re5uli in the knlder losing the principal amount or any inierest gllributable to the curreni wiod or prior period5. le) Contractual PTOViSiOOS th* Fmiil the issuer io prepay a delm instrument or permit the holder to put it back io th¢ iS5uer before mawrity not coniingent on futtwe cvcnt& other than io proi¢¢L th¢ holder aKainsi rhe credil deterioration of the issuer or a change in control of the I￿Uer, or ￿ p￿eCt ihe holder or issuer against changes in l¢vie$ applied by a ceniral bank OT arising from changes in ¥elevani tty￿10n or Jaw. {0 Contractual provisions may pemlii the ex￿￿10￿ of the trmi of the debt in51wmenL provided that the return 10 the hold¢r and any other coniraciual provi5LOnS applicablt during ihe ¢xtend¢d tern) satisfy the eonditions of pardgraph5 la} tts Ic). Debi instrumenL5 th￿ are cl￿SIr1ed as payable or receivable within one year on inilial r#ognition and which meet the above condi¢ion5 are mcasurcd at the undiscounted amouni of the c&sh OT Other consideraiion expected to be paid or received. net of impaimienL With the exception of some hedging instwmenty other debt itwtsments meding the5c condition5 are rnea5ured at fair value through profli or lo￿. Commimienrs to make and rtceive l¢)ans which meet the Con<￿tiOnS m¢ntsoned above are m¢awred ai cost (wlllch may be nil) less impaiment. InV￿1￿1t￿lS Investments in nort