HAFWAY A Private Company Limited by Guarantee Registered in England No: 7299262 A Registered Charity No: 1138279 REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HAFWAY A Private Company Limited by Guarantee Registered in England No 7299262 A Registered Charity No 1138279 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Company Information Report of the Trustees and Directors Independent Examiner's Report Accounting Policies Summary Income and Expenditure Account Statement of Financial Activities Balance Sheet Statement of Cashflows Notes to the Financial Statements Detailed Income and Expenditure DonnellyBentley Chartered Accountants Hazlemere 70 Chorley New Road Bolton BL14BY
HAFWAY A Private Company Limited by Guarantee A Registered Charity COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 DIRECTORS & BOARD OF MANAGEMENT: Sue Pilling (Chair) Rodger Petch (Vice Chair) Ross Pilling John Currid Amanda Mary Rushton lan Greenhalgh Elisabeth Ashton Deen Ishmaaeel SECRETARY: Fiona Harris REGISTERED OFFICE". Hafway Hub St Pauls Parish Centre Halliwell Road Bolton Lancashire BL18BP REGISTERED COMPANY NUMBER: 07299262 (England and Wales) REGISTERED CHARITY NUMBER: 1138279 INDEPENDENT EXAMINER: Andrew Newton DonnellyBentley Ltd Chartered Accountants & Registered Auditor Hazlemere 70 Chorley New Road Bolton BL14BY BANKERS: Lloyds Bank plc 9 Hotel Street Bolton BL1 1DB
HAFWAY A Private Company Limited by Guarantee A Registered Charity REPORT OF THE BOARD OF MANAGEMENT (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 The Directors, who are the Trustees and the Board of Management of the charitable company, present their annual report and financial statement for the year ended 31 December 2024, which are also prepared to meet the requirements for a directors. report and accounts for Companies Act purposes. STRUCTURE, GOVERNANCE AND MANAGEMENT Governin Document HAFWAY is a company limited by guarantee, incorporated on 29 June 2010 and registered as a charity sinGe 6 October 2010. It is governed by its Memorandum and ArtiGles of Association. The company is a charity registered in England and Wales and is therefore non-profit making and its directors and trustees are volunteers. The company has been incorporated without share capital as it is limited by guarantee, to a maximum of £10 by each of its members. ointment of Trustees The directorsltrustees are appointed by the members of HAFWAY. The directorsltrustees also have the power under the governing documents to co-opt individuals who support the objects of the organisation. Trustee Induction and Trainin As part of their induction, new directorsltrustees are provided with information about the charity, the management structure, its history and working practices. In addition they are also provided with extracts of the Memorandum and Articles of Association plus information from the Charity Commission and Companies House regarding the duties and responsibilities of directors and trustees. Appropriate training is provided as required. OBJECTIVES AND ACTIVITIES The principal objectives of the charitable company are:_ (a) To promote social inclusion for the public benefit by preventing people, primarily those aged 5-18 from becoming socially excluded, particularly by reason of ra or background. relieving the needs of those people who are socially excluded and assisting them to integrate into and participate more actively in society. (b) To promote the education of people, primarily those aged 5-18, in the Halliwell area of Bolton and surrounding areas. (c) The prevention or relief of poverty or financial hardship in the Halliwell area of Bolton and surrounding areas by providing or assisting in the provision of education, training healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
HAFWAY A Private Company Limited by Guarantee A Registered Charity REPORT OF THE BOARD OF MANAGEMENT (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES (continued) To achieve these objects, HAFWAY aims to,. provide a range of activities facilities and services for young people in the Halliwell and Crompton wards and surrounding areas of Bolton" help integrate young people from different backgrounds, reducing racial tensions", engage young people in physical and social activities to improve health, confidence and self- esteem. help young people to overcome their disadvantages by developing their skills for adulthood. PUBLIC BENEFIT We have referred to the guidance in the Charity Commission's general guidan on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees have considered the activities of the Charity as set out in the 'Objectives and Activities, section above, and the 'Review of Progress and Achievements in the Year,, and assessed their future plans. They are satisfied that the criteria for public benefit are comprehensively achieved. REVIEW OF ACHIEVEMENTS IN THE YEAR HAFWAYS 26th year has been one of great excitement. A year full of promise for building an even brighter future for both the organisation and for our Young People. The main focus of both Youth leaders and Trustees has been to submerge ourselves into the legal and building processes presented to us. We have had to embrace all difficulties and issues involved in creating a positive outcome so that we will all be proud of our new HAFWAY 7 day a week Youth Hub. First of all 2024 in a nutshell-.- 501 individual Young People attended our sessions. 4831 Youth club visits were recorded. 3000 FREE hot meals were served to our Young People. 49 % of Young People we engaged with are from an ethnic minority. 71 % of Young People we engaged with identify as male with 28 /0 female and 1 % non-binary. 570/0 of Young People we enga9ed with were over 14 years old, the other 430/0 were ages 8 to 14. 30+ young volunteers were making a difference. 4 employed staff and over 15 regular volunteers enabled us to run the project in a professional manner. 100 % of our Youth sessions were FREE of charge with equal access for all. Buildin Works :. ettin the rocess ri ht Throughout the year, a special mention needs to be made of Moira, our lead youth worker, who tirelessly followed the project each day and was always on hand to answer any of the contractors queries. In a professional manner she was able to put them right when things were in doubtl Thank you also to the Trustees who regularly attended site meetings and pushed for deadlines and debated alternative solutions to any problems that arose.
HAFWAY A Private Company Limited by Guarantee A Registered Charity REPORT OF THE BOARD OF MANAGEMENT (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2023 REVIEW OF ACHIEVEMENTS IN THE YEAR (continued) A consulting engineer, architect, principal designer and quantity surveyor were appointed. Fusion 21 were appointed as procurement consultants to oversee the process of contractor and professional team appointments. Turners and Townsend were appointed by the YIF as an external project management company overseeing the contract management and delivery. Plans to renovate the listed building were passed by Bolton council. HAFWAY appointed their own solicitor to make sure that all legalities were in place. HAFWAY Trustees and appointed professionals sat down together to choose an appropriate contractor out of six tender invitations. Four contractors submitted and ROSSLEE were appointed as the successful contractor. In May the Mechanical and Electrical consultants were approved. HAFWAYS equipment was moved out of the building, some into storage and some to the community centre where sessions were to be run. Completion of Land Registry 03106124. Building work commenced 17106124. Staffin Youth Leaders Moira Esther Beck and Charlie The biggest worry by staff was that we could lose a large number of Young Peop.e when we moved into the Community centre as things were going to be so different. In fact we did lose some young People but gained others. The actual impact of moving into a smaller space was felt more intensely by staff and volunteers rather than the Young People. As numbers settled, due in reality to the space being so well managed, we soon found our rhythm. In fact we surpassed it with both increased numbers of Young People and increased sessions attended. HAFWAY welcomed Kelly as a new sessional member of staff. HAFWAY welcomed Dave as a new volunteer. In order to accommodate our new Youth Hub, discussions began to take place as to what new posts (2 FT and 2PT) would be most beneficial to the running of the project. Activities In August 90 young People attended camp in mid-wales. the theme was survival and this year HAFWAYS Young People enjoyed a joint venture with the South Craven Youth group. Activities included Archery, Raft-Building, Climbing, Stretcher-making ,Baking and group discussions One of our trustees who dttended the camp commented on how all the Young People were actively and positively engaged in the activities .He could see that as the week continued the Young People were growing in awareness of self and others and were making better social connections .As new skills were learned they were also growing in confiden A weekend minicamp was also arranged for our most challenging Young People and was a great success Duke of Edinburgh awards continued throughout the year. The August HAF (Holidays ,Activities and Food ) project was also very successful with attendance by 132 Young People, 54 of whom qualified for free school meals. The girls group continued throughout the year with increased attendance .They enjoyed meeting together and enhancing their art and craft skills and sporting activities.
HAFWAY A Private Company Limited by Guarantee A Registsred Charity REPORT OF THE BOARD OF MANAGEMENT (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF ACHIEVEMENTS IN THE YEAR (continued) Trainin Moira, Esther and Sue (chair of HAFWAY) attended the YIF training in Liverpool in May. Seminars attended included Marketing, Fund Raising and Income generation, Project Management, Environmental Sustainability, Recruitment and Managing Organisational growth and change. The day proved to be very interesting, and Moira and Esther took part in a filmed interview regarding the effectiveness of the YIF funding for HAFWAY. Sue provided written feedback to the organisers. The youth workers attended a meeting in Dundee regarding the TECKLE data system that HAFWAY are now fully utilising. Further training included the adjustment of the monitoring and evaluating programs to better suit HAFWAYS needs for future development. HAFWAY have enrolled with Bolton University as a placement finder to nurture people who wish to become involved in youth work. Fundraisin Events continued throughout the year despite the building work upheaval. Two afternoon teas were organised for the community run by the Young People. A curry night and quiz supported HAFWAY funds. The Yoijng People decorated and ran a Santas grotto with refreshments to support the community Christmas Fayre. Youn Peo Congratulations to Adam who fulfilled his aim to become part of the Bolton Youth Parliament. He is enjoying the challenges including promoting HAFWAY to a wider audience. Congratulations also go to Grace who has qualified for the Bolton Wanderers women's football team ,well done. HAFWAY greatly benefits from the support Bolton Wanderers in the community. The Trustees welcomed Braidien and Raen as two non-executive youth trustees. Funders A large thank you to all our funders who have supported HAFWAY this year and whose contributions are greatly valued. YIF £1.5 Million, new investor Henry Smith charity The National lottery Holidays, Activities and Food fund. Funded by Dept of Education and coordinated by Bolton Council Warburtons, their bread donations help us to manage our food costs which have doubled. ASDA Saving Threads CIC run by two members of Smithills secondary School staff who donated to HAFWAY because they value the difference HAFWAYS input makes to their students, both in their attitudes and perfomiance in school. HAFWAY is managed by a professional, dedicated team of staff, volunteers and trustees. We are very much looking forward to working with our many Young People and forging ahead with new plans and ideas in the development of our new HAFWAY Youth hub.
HAFWAY A Private Company Limited by Guarantee A Registered Charity REPORT OF THE BOARD OF MANAGEMENT {AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW The deficit for the year was From which is added the retained surplus brought forward {4,253) 37,613 Leaving a surplus carried forward of 33,360 The principal financial risks and uncertainties for the charity relate to the securing of funding to cover salaries and youth worker expenses. The charity is also subject to the risk of increasing costs to provide the highest quality activities for young people. The trustees and youth workers attend regular meetings to discuss performance and plans are adjusted if any significant issues arise. HAFWAY has a risk management programme in place to cover all aspects of governance, staffing, buildings and health and safety and this is currently being reviewed to support the move into the new building. Major risks are regularly reviewed and the charity has established systems and protocols in place to manage these risks. Future financial performance and position will be materially affected should HAFWAY not secure grantoe and funding from providers. The charity has an ever strengthening reputation for providing excellent services for young people and is working towards a 7-day activity hub. The trustees are confident that these factors should attract furtherfunding and minimise the risks of not receiving further funding. Reserves Policy It is our aim to maintain unrestricted funds, which are free reserves of the Charity, at a level which equates to approximately six months unrestricted expenditure. However, as a relatively small Charity this may vary from year to year depending on the size of projects available which are eligible for expenditure according to the Charity's objectives. This provides sufficient funds to cover management, administration and support costs and allows the Charity to react to changes in funding in a constructive manner. At 31 December 2024 the charity had restricted funds of £17,073 (2023: £17,582) and unrestricted funds of £16,287 (2023.. £20,031). PLANS FOR FUTURE PERIODS HAFWAY has always provided support for young people on a weekly basis but now has plans in place to expand this project into a 7-day activity hub which will allow the charity to use increased experience to provide even more activities to young people. Achievement of this plan relies on increased levels of staff and youth workers, and this is how the charity plans to action this moving forward. HAFWAY always has a vision for future development and considering the views of trustees, young people and the local community alike will allow the charity to maintain a prominent position within the ommunity whilst furthering the activities and services provided for young people. The trustees have completed an internal audit each to evaluate their individual strengths and how these can be used to best promote HAFWAY in the present and future.
HAFWAY A Private Company Limited by Guarantee A Registered Charity REPORT OF THE BOARD OF MANAGEMENT (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 BOARD OF MANAGEMENT The Directors of HAFWAY are its trustees for the purpose of charity law. The trustees and officers who served during the year and since the year end are as follows" 31 December 2024 Sue Pilling (Chair) Rodger Petch (Vice Chair) Ross Pilling John Currid Amanda Mary Rushton lan Greenhalgh Elisabeth Ashton Deen Ishmaaeel 31 December 2023 Sue Pilling (Chair) Rodger Petch (Vice Chair) Ross Pilling John Currid Amanda Mary Rushton lan Greenhalgh Elisabeth Ashton (appointed 5110122) Deen Ishmaaeel (appointed 5110122) All Trustees are volunteers and received no remuneration for their services during the period. None of the Trustees who served during the period had any beneficial interests in the charitable company. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements the trustees are required to.. Select suitable accounting policies and then apply them consistently" Observe the methods and principles in the Charities SORP (FRS 102); Make judgements and estimates that are reasonable and prudent., State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracsi at any time the 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
HAFWAY A Private Company Limited by Guarantee A Registered Charity REPORT OF THE BOARD OF MANAGEMENT (AS TRUSTEES AND DIRECTORS) FOR THE YEAR ENDED 31 DECEMBER 2024 TAXATION The Board of Management are of the opinion that the company is a close company for taxation purposes. Exemption to taxation has been granted by the Inland Revenue under the provisions of Section 505 of the Income and Corporation Taxes Act 1988. INDEPENDENT EXAMINER The directors consider that for the year ended 31 December 2024 the company was entitled to exemption from a statutory audit under Section 477 of the Companies Act 2006 and is eligible for an independent examination. SMALL COMPANY EXEMPTION In preparing this report the directors have taken advantage of the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime. APPROVED BY THE BOARD OF MANAGEMENT AND SIGNED ON BEHALF OF THE BOARD BY: Signed Director- Susan Margaret Pilling 28 August 2025
HAFWAY A Private Company Limited by Guarantee A Registered Charity INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAFWAY I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024 set out on pages 4 to 8. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act") Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. Independent examiner's statement I can confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act.. or 2. The accounts do not accord with those records., or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of any independent examination", or 4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reach d. Andrew Newton Institute of Chartered Accountants in England and Wales DonnellyBentley Ltd Chartered Accountants Hazlemere 70 Chorley New Road Bolton BL14BY 28 August 2025
HAFWAY A Private Company Limited by Guarantee A Registered Charity ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows" BASIS OF PREPARATION The financial statements have been prepared in accordance with Accounting and Reporting by Charities" Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. HAFWAY meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes). They have been prepared under the historic Gost convention and the going oncern basis. FUND ACCOUNTING Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of a grant. INCOME All income is included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy and when it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP. EXPENDITURE All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable activities expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such aGtivities and those costs of an indirect nature neSSary to support them. Governance Gosts include those incurred in the governanGe of the charity and its assets and are primarily associated with constitutional and statutory requirements. All costs are allocated between the expenditure categories on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
HAFWAY A Private Company Limited by Guarantee A Registered Charity ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment Fixtures, fittings and equipment Motor vehicles 25 % on cost 15 /0 on reducing balance 25 % on cost DEBTORS AND CREDITORS RECEIVABLEIPAYABLE WITHIN ONE YEAR Debtors and creditors with no stated interest rate and receivable or payable within one year arp recorded at transaction price. Any losses arising from impairment are recognised as expenditure. CASH AT BANK AND IN HAND Cash at bank and in hand includes cash on deposit and cash equivalents with a maturity of less than one year. VAT ACCOUNTING All grant income and donations are outside the scope of VAT, therefore the Company is not liable to be registered for VAT. Irrecoverable VAT on expenditure is not analysed separately but attributed to the category of expenditure on which it is incurred. PENSION COSTS The company operates a defined contribution pension scheme. The assets of the acheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged against the income and expenditure account. TAXATION The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation purposes. GOING CONCERN The trustees have reviewed the circumstances of HAFWAY and consider that adequate resources continue to be available to fund the activities of the charity for the foreseeable future. The trustees are of the view that the charity is a going concern.
HAFWAY A Private Company Limited by Guarantee A Registered Charity INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME 874,626 97,251 Other Operating Charges 878,879 150,613 Bank Interest Receivable (DEFICIT)ISURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATION (4,253) (53,362) Tax on Income on Ordinary Activities (DEFICIT)ISURPLUS ON ORDINARY ACTIVITIES AFTER TAK4TION 4,253 RETAINED (DEFICIT)ISURPLUS FOR THE YEAR (4,253) (53,362) RETAINED SURPLUS BROUGHT FORWARD 37,613 90,975 ACCUMULATED FUND TO CARRY FORWARD 33,360 37,613 In the year ended 31 December 2024 and the year ended 31 December 2023. the only (deficit)Isurplus recognised by the company was the (deficit)Isurplus for the period; all of the activities undertaken by the company were continuing activities.
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HAFWAY A Private Company Limited by Guarantee A Registered Charity BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note FIXED ASSETS 13.393 21,742 CURRENT ASSETS Prepayments and Accrued Income Cash at Bank and in Hand 45,973 30,396 39,710 76,369 39,710 CREDITORS. AMOUNTS FALLING DUE WITHIN ONE YEAR 56,402) 23,839) NET CURRENT ASSETS 19,967 15,871 TOTAL ASSETS LESS CURRENT LIABILITIES 33,360 37,613 FUNDS Unrestricted Funds Restricted Funds 9,10 16,287 17,073 20,031 17,582 33,360 37,613 For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476., The directors acknowledge their resporisibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The financial statements on pages 4 to 8 were approved by the Board of Management (Directors) and signed on its behalf by:_ Director- Susan Ma garet Pilling On behalf of the Members of the Board Management (Directors) 28 August 2025
HAFWAY A Private Company Limited by Guarantee A Registered Charity STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cashflows from operating activities: Net cash provided by (used in) operating activities 9,313 24,936 Cashflows from investing activities: Purchase of property, plant and equipment 2,117 Net cash provided by (used in) investing activities 2,117 Cashflows from financing activities: Net cash provided by (used in) financing activities Net increasel(decrease) in cash and cash equivalents {9,313) (27,053) Cash and cash equivalents at 1 January 2024 39,710 66,763 Cash arid cash equivalents at 31 Dember 2024 30,397 39,710 Reconciliation of net movements in funds to net cash flow from operating activities Net movements in funds for the year ended 31 December 2024 (4,253) (53,362) Ad ustments for.. Depreciation charges (Increase)Idecrease iri debtors Increasel{decrease) in creditors 8.349 (45.973) 32,564 7,914 20,512 Net cash provided by (used in) operating activities 9,313 24,936 Analysis of cash and cash equivalents Cash in hand 30,397 30,397 39,710
HAFWAY A Private Company Limited by Guarantse A Registered Charity NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. INCOME Total 2024 Total 2023 Unrestricted Restricted DONA TIONS & LEGACIES.- Fundraising Bolton CVS YIF Henry Smith Asda Foundation St Thomas UK Youth National Lottery Other Donation 8,662 8,662 9,069 756,667 57,300 2,000 608 10,000 25,000 5,320 9,069 756,667 57,300 8,116 14,132 2,000 608 10,000 10,000 50,000 2,934 25,000 5,320 26,590 848,036 874,626 97,251 Income from donations and legacies was £874,626 (2023: £97,251) of which £848,036 {2023'. £l$2,248) was attributable to restricted and £26,590 (2023: £15,003) was attributable to unrestricted funds. The company beirig a registered charity currently receives a substantial amount of its income in the fomi of granti and donations. These are specifically provided in order to fund the company's principal aims and objectives. All the income is derived from the United Kingdom. 2. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Total 2024 Total 2023 UnrestriGted Restricted Main Operational Costs Other Operational Costs Repairs and Maintenance Activities Equipment and Supplies Staff Costs (see note 4) Project Costs 4,194 8,018 17 9,330 6,952 1.823 14.942 10.704 598 6,797 1,056 87,440 727,008 19,136 18,722 615 16,127 8,008 89,263 727.008 15,606 29,145 1,202 15,922 13,741 74,997 30,334 848,545 878,879 150,613 £848,545 (2023.. £126,674) of the above costs were attributable to restricted funds. £30,334 (2023: £23.939) of the above costs were attributable to unrestricted funds. Support costs comprise governance costs of £2,743 (2023: £1,784) which are detailed in note 3 and professional fees of £963 (2023: £15,554). Total support costs are £3,706 (2023: £17,338) of which £2,128 (2023: £16,718) were attributable to restricted funds and £1,578 (2023.. £620) were attributable to unrestricted funds.
HAFWAY A Private Company Limited by Guarantee A Registered Charity NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 3. ANALYSIS OF GOVERNANCE COSTS Total 2024 Total 2023 Unrestricted Restricted Accountancy Bank Charges 600 26 2,051 66 2,651 92 1,669 115 626 2,117 2,743 1,784 The independent examiner's remuneration amounts to an independent examination fee of £2,220 (2023. £1,620). 4. EMPLOYEES 2024 2023 Salaries and Wages National Insurance Pension Contributions 83,679 196 5,388 70,769 4,228 89,263 74,99'1 The average number of employees in the period was 5 (2023.. 5). There are no employees who received total emoluments of more than £60,000. There are no trustee or key management personnel remuneration benefits. 5. TANGIBLE FIXED ASSETS Fixtures, Fittings & Equipment Motor Vehicles Computer Equipment Total COST At 1 January 2024 Additions Disposals 31,119 4,612 966 36.697 At 31 December 2024 31,119 4,612 966 36,697 DEPRECIATION At 1 January 2024 Charge for the Year Disposals 11,670 7,780 2,583 529 703 39 14,955 8,348 At 31 December 2024 19,450 3,112 742 NET BOOK VALUE AT 31 DECEMBER 2024 11,669 1,500 224 NET BOOK VALUE AT 31 DECEMBER 2023 19,449 2,029 263 21,742
HAFWAY A Private Company Limited by Guarantee A Registered Charity NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 6. DEBTORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments Accrued Income 772 45,201 45,973 7. CREDITORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and Deferred Income Trade Creditors Social Security & Other Taxes Pension Creditor 6,608 49,246 17,168 5,394 797 480 548 56,402 23,839 8. DEFERRED INCOME 2024 2023 At 1 January 2024 Additions during the year Amounts released to income 13,960 2,876 13,960 13,960 At 31 December 2024 2,876 13,960
HAFWAY A Private Company Limited by Guarantee A Registered Charity NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 9. ANALYSIS OF MOVEMENT IN FUNDS IN YEAR Year Year Ended Ended Minibus 3111212024 3111212023 Unrestricted Fund Henry Smith TNL YIF Funding HAF INCOME EXPENSES 26,590 30,334 {3.744} 57,300 47.979 9.321 756,667 25,000 25,000 9.069 874,626 97,251 150,613 {53.3621 756,667 9,069 9,830 (9,830) 878,879 (4.253) TRANSFERS FUND AT STAR T ?0.031 818 16.764 37,613 90,975 AVAILABLE FOR USE AT CLOSE 16.287 10,139 6,934 33,360 37,613 a) Henry Smith - The Henry Smith charity contributes towards the salaries and costs of the youth viorkers at HafiNay, who provide support to disadvantaged young people in deprived areas of Bolton. b) Youth Investment Fund - this is a bespoke fund from the government for Greating, expanding and improving youth services across England. c) TNL - this fund received from The National Lottery Community Fund goes towards salaries, overheads and rent. d) HAF- this is funded by the Department of Education and coordinated locally by Bolton Council. Our HAF programme supports children and families on benefits related free school meals with free fun and enriching activities alongside a meal for a minimum of 4 hours a day, 4 days a week. e) Minibus - one off donation from Let Yourself Trust was secured to fund the purchase of a new minibus. The Let Yourself Trust is a non-profit organisation that provides funding for and informs on a wide variety of projects and justice movements both at home and abroad.
HAFWAY A Private Company Limited by Guarantse A Registered Charity NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Final balances at 31 December 2024 are represented by: Unrestricted Funds Restricted Fund Total Fixed Assets Current Assets Current Liabilities 1,723 16,675 11,670 59,694 54291) 13.393 76,369 16,287 17,073 33,360 11. OPERATING LEASE COMMITMENTS Total future minimum lease payments under non-cancellable operating leases are as follows., 2024 2023 Not later than one year Later than one year but not later than five years Later than five years 8,000 7,333 8,000 15,333 15,333 23,333 12. CONSTITUTION The charitable company is limited by guarantee and does not have a share capital. In the event of the company being wound up the members are committed to a contribution of £10 each. 13. CAPITAL COMMITMENTS 2024 2023 Capital expenditure that has been authorised by the trustees but has not yet been coiitracted for Capital expenditure that has been contracted for but not yet provided 624,672 1,351,476
HAFWAY A Private Company Limited by Guarantee A Registered Charity NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 14. RELATED PARTY TRANSACTIONS There are no related party transactions in the period. 15. TRANSACTIONS WITH DIRECTORS AND TRUSTEES There have been no transactions with directors during the period other than the re-imbursernent of expenses incurred on behalf of the charitable company. None of the Directorb (who are also Trustees) received any remuneration for their services during the period. The trustees did not have any expenses reimbursed during the year (2023: £nil). 16. ULTIMATE CONTROLLING PARTY As a charity the company is under the control of the Board of Management.
HAFWAY A Private Company Limited by Guarantee A Registered Charity INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME Donations, Grants and Legacies 874,626 97,251 OTHER INCOME Refund of Minibus Costs Compensation Interest & Fee Refund OTHER OPERATING CHARGES Salaries, National Insurance and Pension Activity Costs Supplies and Equipment Administrative Costs Travel Expenses 89,263 16,457 8,035 8,455 2,232 74,997 15,934 14,278 3,881 1,651 Fl I Community Centre Costs Accountancy Professional Fees Mini-Bus Running Costs Depreciation Project Costs -YIF 13,426 2.651 963 2,040 8,349 727,008 12,592 1,669 15,554 2,143 7,914 TOTAL EXPENDITURE 878,879 150,613 DEFICIT FOR THE YEAR (4,253) (53,362)