REGISTERED COMPANY NUMBER: 05084674 (England and Wales) REGISTERED CHARITY NUMBER: 1138761 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ACCESS TO BUSINESS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 2to8 Independent Examinerfs Report to the Trustees of Access to Business Statement of Financial Aclivities 10 Balance Sheet 11to12 Statement of Cash Flow 13 Notes to the Financial Statements 14to20
ACCESS TO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also dlrectors of the charity for the purposes of the Companies Act 2006, present their report with the f inancial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practic8 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 05084674 (England and Wales) Reglstered Charlty number 1138761 Registered office The Curve 81 Tempest Street Wolverhampton West Midlands WV2 1AA Trustees J Casey- Co Chalr C Briggs- Co£hair M Russell - Resigned on 1510612022 R Tinsley C Williams-Findlay P Wynn - Resigned 0110212024 M Dovey - Appoint8d 0410612024 M Mangat - Appointed 0410612024 C Smith - Appointed 00612024 Independent Examlner Daw INhite Murrall 1 George Street Snow Hill Wolverhampton IN2 4DG Accountant lan Gregory FCA Daw White Murrall 1 George Street Snow Hill Wolverhampton IAW2 4DG Sollcltors FBC Manby Bowdler George House Saint John's Square Wolverhampton West Midlands INV2 4BZ
ACCESS TO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMEKr Governing document The organisation is a charitable company limited by guarantee. as defined by the Companies Act 2006. incorporated on 25th March 2004 and registered as a charity on 2nd November 2010. The company was established under a Memorandum of Association which established the objects and powers of the charitab18 company and is govemed under Its Article5 of Association. The Articles of Association were last amended on 8th August 2020. Recruitment and appointment of new trustees The directors of the company are also Charity Trustees for the purposes of charity law and under the company's articles. Under the requirements of the Memordndum and Articles of Association the directOT5 of the Charity are elected at the Annual General Meeting, though the Board may COwOPt potential new directors on to the Board at any time during the year. At each Annual General Meeling. one-third of the directors must retire by rotation and. should they wsh to do so, put themselves forward for re-election. Under the Memorandum and Articles of Association there is no maximum term that a director can serve, subject to the requirement to retire and re-apply every three years. Efforts are made by the board and management to recwit new trustees with appropriate skills and in particular. increase the number of Trustees. A total of nine trustees should be the aim. The Board follows the Good Govemance.. a Code for the Voluntary and Communlty Sector which is jointly developed by NCVO, SCC, ICSA & WCVA and is supported by the Charity . nduc ion nd t inin ofn stees All new trustees are offered an induction into the organisation by the management team and Chair. Trustee5 are asked to maintain regular contacts with the organisation and are invited to attend public events on behalf of the organisation. Trustees, skills audit is carried out once per year to make sure the organisation's needs in relation to skills. experience and diversity are met. Organlsational Structure The Board is comprised of the five current director5. Board meetings are undertaken on a quarterty basis. and more f requently when necessary. The Finance Sub Committee now includes two directors and also meets on quarterly basis. Management responsibility of the organi5ation rests with the Management Team who deals wth operational matters. Strategic focus, along wth scrutiny of the management. is the remit of the board. Staffing during 2023-24: Chiaf Executive Officar. Josie Kelly Managers: Simon Moore I Paul Tabor I Paula McHugh Senior Business Advisors: Carole Taylor (Redundancy 30 Nov 2023) l Lester Knight l Gary Lees l James Brennan Business Advisors: Jessica Cockerham I Carol Slater (Redundancy 30 Nov 2023) l Baldeep Dhillon l Debra Friedl (Resigned 27 Oct 2023) l Keith Fitzsimons l Jasbir Singh Employment Advisors: Tianna Dunne- Johnson Education Trainer. Debra Westwood MarketingllT: Henry Wilkinson (Resigned 17 April 2023) l Rikesh Patel I Samuel Weaver Admin staff: Kelly Hines l Barbara Davidson (Redundancy 30 June 2023) l David Maiden Line Managers review staff development yearly and all staff have the opportunty to undertake f urther relevant training and development for their role.
ACCESS TO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Risk management The Directors have a duly to identify and review the risks to which the Charity is exposed and ensure appropriate controls are in place. The Board undertake a fomal organisational Risk Assessment on a yeaTIy basis and a quarterly review of the major risks which have been identif led and are satisf led that major risks are being managed. The main extemal risks to [ch the organisation is subject is the reliance upon funding from the public sector. Cuts to public spending and the increased competition for the available funds elevates the risks for future funding of Access to Business. The Board and the Management T&am developed a broad strategy to diversify income and the Management Team is working to implement this as a matter of Priority. Networking and Partnershlps Access to Buslness networf(s throughout the Black Country and members of staff represent the organisation on a number of local boards and steering groups. OBJECTIVES AND ACTIVITIES Aims and Objectives Access to Buslness's primary objectlve. as stated in its Memorandum of Association, is for'the relief of unemployment for the public benefit in such ways as may be thought fit including assistance to find employment,. tt is Access to Business's mission to be an independent and authoritative advocate to support disadvantaged people in the Black Country tovRrds training. employment. self-employment and enterprise with a specialism for supportingr disadvantaged people with health problems or di5abllities. Our vislon is that all disadvantaged people realise theirfull potential and to have an equal opportunity to compete in the workplace. Wolverhampton has one of the hig hest rates of unemployment in the UK. Access to Business works to provide: An enterprising environment forthe unemployed people of Wolvethampton, to enable opportunities for new businesses to thrive. A stimulating environment for people to leam and achleve. An inclusive source of infornation, advice and guidance for career development. In the context of Its vision, the organlsatlon Identif led three strategic aims: Aim1 Place the interest of clients at the heart of everything we do and involve them in all aspects of work at Access to Business Aim 2 - Ensure clients have access to high quality information. advice, guidance and an appropriate range of support and training service5 which promote and secure equality of opportunity, open access and inclusiveness. Aim 3 - People, Resource, Systems to ensure that Access to Business has effective govemance. people management, resource management and quality assurance Systems to achieve excellence and long-term economic sustainability
ACCESSTO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Focus of our Work A¢¢ess to Business is committed to continuing as a vibrant, diverse and independent voluntary sector organisation to support the relief of unemployment in the Black Country. We work closely wth many voluntary and statutory partners including Wolverhampton City Council and other key partners across the City to deliver and drive forward the Wolverhampton Plan f or 2030 which sets out an ambition that 'Wulfrunians will live longer, healthier lives.. Delivery of this ambition is supported by six overarching priorities.. Strong families where children grow up well and achieve their f ull potential Fulf illed lives f or all with quality care f or those that need it Healthy. inclusive communities Good homes in 11-cOnnected neighbouthoods More local people into good jobs and training Thriving economy in all parts of the city Supporting the six overarching priorities are three Cross cutting principles:
Climate Conscious Driven by Digital. Fair and Equal Access to Business actively promotes and supports the Wolverhampton priorities through all of its services. Charitable activities undertaken for the public benefit Access to Business is a Wolverhampton City Centre based charity. The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to public benef it guidance published by the Charity Commission. The following activities have been undertaken for the public benefit: Employment Support, Confidence Building, Self-Employment and Social Enterprise Development and Training. We work with many partner5 on a number of different projects across the Black Country. For all self- employed clients orthose who setup a social enterprise we provide on-going help to support their business suNival. As part of this we provide office seJvi¢es. business support and practl¢al help wth business planning, marketing. networking and completing self-assessm8nts. Volunteers Our Clients have access to voluntary work opportunities wthin our premises: Training Centre and the Enterprise Suite providing a range of skills to support our Clients, route to work and helping to increase their confidence. Access to Business have a Client - led user g roup, and views of the group are taken into account to develop f Lrture services and shape service delivery. Policies and services take f ull account of inequalities. including those linked to social class. ethnicity. religion, age, disability and sexuality. Our Volunteer led supportlsocial group also offers peer-to-peersupportforclients, including providing support f or our outreach events, raising funds to enable them to organise social events and provide feedback on our seNices to help to ensure that we are able to meet the demands of all of our Clients. The trustees have also considered Charity Commission guidance on public benefit en planning its activities.
ACCESS TO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Quality Assurance Access to Business has a proven track record for quality of delivery and seNices. We evaluate our work wherever possible by client feedback and funders evaluations and reports. Access to Business is accredited to the MATRIX standard and holds ISO9001 accreditation, Level 3 Disability Conf ident Leader status and the Cyber Essentials accreditation. Access to Business is an accredited training provider for OCN London and NCFE Awarding Bodies. We successfully passed the re-accreditation audits for the quality f rameworks during 2023-2024. ACHIEVEMENT AND PERFORMANCE During 2023-2024 Access to Business has worked on several successful contracts supporting unemployed people into training, work. self-employment or social enterprise development. The European Regional Development Fund (ERDF) Raising Aspirations. Inspiring Self -EmploymenUSocial Enterprise (RAISE) Project (2016-2019) has been a great success and achieved the project extension for 2019-2021 which was f urther extended to June 2023. The project was independently evaluated by CAAT Services Ltd conf irmed that the project achieved all key milestones and the feedback f rom clients was very positive wth clients stating they have been extremely satisfied with the service and support they have received from the FIAISE project. R4ISE was delivered by Access to Business in partnership with SWEDA (Skills Wort( and Enterprise Development Agency) wth Acces5 to Business being th8 lead partner. RAISE delivered support to entrepreneur5 in the Black Country to set up and run their businesses, specifically targeting new and eady-stage entrepreneurs from undeePresented groups including women. BME communities and disabled people. The project supported over 1800 entrepreneurs and 618 existing businesses to develop and grow their enterprises. Access to Business was also a delivery partner with the major Lead provider. Steps to Worf(, for the Building Better Opportunities (BBO) programme. BBO was a multi-million pound funding progrdmme which matched money from the European Social Fund and Big Lottery Fund to tackle poverty and social exclusion faced by the most disadvantaged people in England. The BRIDGES project (2016-2022) was extended following its successful delivery over the initial project period. to April 2023. We have continued delivery of the £275.000 Initiative for Social Enterprise prog rdmme, a project which encourages and supports Social Enterprise start up and development in Wolverhampton. This project will run until March 2025. The project is also supported by SWEDA who wll be running the same programme in Sandwell. Project participants wll also be supported to access grants up to £10,000 which will help them with their initiative and support their growth beyond 12 months. Grants are administered by Wo Iverhampton Voluntary and Community Action. and Sandwell Community Voluntary Action. The National Lottery supported Access to Business with £75,000 of f unds f rom their Cost of Living Fund during 2023124. These funds enabled us to provide support to over 200 residents wth advice and guidance around managing personal finances. as VRII as helping them with IT training and providing access to digital devic8S. The UK Shared Prosperity Fund, managed regionally by West Midlands Comblned Authorlty. stsrted durtng 2023124. and we were successf ul In obtaining £59,944, until March 2024. This project enabled us to run our Access 4 All project, supporting residents with conf idence buildSng. access to training and accredited qualifications, as 11 as support into employment and support with digital and f inancial advice. Heart of England provided funds totalling £74.773 for our ACTW project, which supports volunteer5 Wth a range of skills to help them transition towards employment. The main focus of this programme VKS a gardening project at Bilston Art Gallery which saw over 40 volunteers work on a wtde range of activities, to help bring the garden back to life. with grounds clearance, landscaping, and planting of a wide range of f lowers. f ruit and vegetables into a previously unused spot in the centre of Bilston. This project will continue into 2024125.
ACCESS TO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Other projects we ved on were funded through the following routes: Wolvethampton City Council (WCC) -Self-Employment Support contract Steps to Wotk- Black Country Futures National Lottery - Awards For All Good Things Foundation projects for Fix the Digital Divide and HMRC support Santander - Digltal and Flnancial Inclusion Natwest - POWER2 Providing Opportunities for Women's Enterprise Routes Bamw Cadbury- Social Enterprise Cluster Work FINANCIAL REVIEW Prlncipal fundlng sources The principal f unding sources for the charity are grants. contracts and social enterise activity. Over the last few years the f unding landscape has been consistently changing and maintaining the same level of income is becoming increasingly challenging. The sector income from Govemment is becoming more centrydlised and almost entirely focused on contracts delivered mainly by larger organisations. Despite this. we have remained successful in securing funding lo enable us to maintain our work. and in the year under review our income was £666.974. This figure is lower than the previou5 yearfs income of £764.707. which reflects the changing landscape around the availability of grant funding, and the increasingly competitive nature of accessing these funds. We are particularly proud of our success in winning a contract to deliver Social Enterise support in Wolverhampton. and we are keen to take an active role in this sector in the coming years. We have also been able to wn an 18-month contract wth the Heart of England to run a Volunteering Project. We have managed to secure several short-ten contracts and grants during the f inancial year. Expenditure review Our expenditure was strictly in line wth the projects. financial targets. Investment pollcy and objectlves Access to Business wll retain an amount in reserves each year to secure the continuity of Access to Business. It is not expected that there wll be f unds for investment however if f unds do build up. then trustees agree that this income should be kept in a high interest account with immediate access. Reserves pollcy In common wth many Charities. we aspire to hold six months running costs in reserves. At the end of March 2024 our reseNes totalled £358,072, which represents lust over 6 months costs. lch the Trustees believe is satisfactory
ACCESS TO BUSINESS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE DEVELOPMENTS Contracts and bids forfunding will continueto be our maln source of income for the short to m8dium temi, but we will need to develop ways of becomlng less dependent on them in order to make our organisation have greater long-tern prospects. Access to Business's Board realised the need to be more entrepreneurial while adapting to the new f unding landscape and Access to Business's Trading ami, BOS Business Office Solutions CIC, was set up and commenced operations in April 2017. During 2023-2024 BOS Business Solutions CIC managed to sustain its activities and generated tumover of £24,739. The BOS social enterprise provides employment and wo placements for disadvantaged unemployed people, contributing to Access to Business's vision to enable disadvantaged people to realise their full potential and to have an equal opportunity to compete in the workplace. During 2023. European f unding came to an end and Access to Business will be working to id8ntify and secure altemative f unding streams to continue delivering our vital services. Acces5 to Business wll f urther develop its partnerships with local and regional providers to continue to support the local employment, enterprise and skills agenda. The charity plans to build on the success we have already achieved and to continue the activities outlined above in the forthcoming years. subject to satisfactory f unding aThangements. ON BEHALF OF THE BOARD: Mrc Briggs- Di tor Date: i/
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACCESS TO BUSINESS FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts for the year ended 31 March 2024 set out on pages 10 to 20. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's tnjstees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required. Having satisf led myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: Examine the accounts under Section 145 of the 2011 Act To follow the procedures laid down in the General Directions given by th8 Charity Commission (under Section 145(5)(b) of the 2011 Act). and To state whether particular matters have come to my attention. Basics of the independent examinerfs report My examination was ¢atried OLrt in accordance with the General Directions given by the Charity Commission. An examination include5 a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It a150 includes consideration of any unusual items or disclosures in the accounts, and seeking explanations for you as trustees conceming any such matters. The proced ures undertaken do not provide all the evidence that would be required in an audit. and consequently no option is given as to whether the accounts present a 'true and f air view and the report is limited to these matters set out in the statements below. Independent examlner's statsment In connection with my examination. no matter has come to my attention: (1) Which gives me reasonable cause to believe that. in any material respect. the requirements to keep accounting records in accordance with section 386 and 387 of the Companies Act 2006: and to prepare accounts whiGh accord with the accountin9 records. comply with the accounting requirements of sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Accounting and Reporting by Charilies: Statement of Recommend ed Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the ac ached. lan Gregory FCA DAW White Murrall 1 George Street Snow Hill Wolverhampton V2 4DG Date:
Access to Business ststement of Flnanclal Actlvltles ear endin 2024 Restricted Unrestricted funds funds TOTAL 2023 INCOME Donations General donations Charitable activities 3.000 17.331 20,331 5,741 Service delivery 40.940 83.053 123.993 105.739 Grants and contracts 522,651 522.651 653,226 566.591 100.383 666,974 764,707 EXPENDITURE Charltable actlvltles Service provision 589,799 92.609 682.408 767,073 589.799 92,609 682,408 767,073 NET INCOME (23.208) 7.774 (15.434) (2.366) Funds brought forward (7,754) 381,260 373.506 375.872 Transfers between funds 30.962 (30.962) Funds carrled forward 358,072 358.072 373,506 The Statement of Financial Actsvities includes all gains and losses in the year. All incoming resources and resources expended are from continuing activities 10
A¢¢ess lo Buslness Balance Sheet as at 31st March 2024 Note 2024 2023 Fixed Assets Tangible Fixed Assets 245,486 252.706 Current Assests Debtors Cash at bank 87.491 287.134 374.625 166,713 200,123 366,835 Creditors Amounts falling due within one year Deferred Income {57,359) 6.222 133.581 (47.747} 60,417 108,164 10 Net Current Assets 241.044 258,672 Long tsmi liabilities Creditor5= amounts falling due in more Ihan one year 11 (128,458) (137,872) Net Assets 358.072 373,506 Funds Restricted f unds Unrestricted f unds 12 (7,754) 381.260 358,072 358.072 373,506 For the year ending, 318¢ Mah 2024. the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with s8Ction 476 of the Companies Act 2006. The Directors aCknOedge their responsibility for complying wth the requirements of the Act with respect to accounting records and the preparation of accounts. 11
Access to Business Balance Sheet - continued as at 31st March 2024 The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply wth Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affair5 of the charitable company as at the end of each financlal year and of Its surplus or deficit for each financlal year in accordance with the requirements of Sections 394 and 395 and which otherwse comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. (b) These Accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the Board of Trustees and signed on their behalf by: Mr C Briggs Director Date: 12
Access to Buslness statement of Cash Flows for the year ending 31st March 2024 2024 2023 Cash flows from o eratin Net income activities (15.434) (2,366) Adjustments for Depreciation of tangible fixed assets (Increaseydecrease in debtor5 Increasel(decrease) in creditors 7,220 79.222 25.417 7,220 (43,233) 25,548 111,859 {10.465) Net cash provided by operating activities 96,425 (12,831) Cash f lows f rom f inancial activities Repayments of borrowngs 9.414 8.457 Net Increaseldecrease in cash Cash at beginning of year 87.011 200,123 (21,288) 221.411 Cash at end of year 287,134 200.123 13
ACCESS TO BUSINESS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Accounting pollces The principle accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. Basis of accountin The financial statements of the charitable company, 1¢h is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'A¢¢ounting 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 (FRS 102) (effective l January 2015)., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. b) und accountin Unrestricted funds are available for use at the discretion of the Directots In furtherance of the general objectives of the organisation. Designated funds are unrestricted funds eannarked by the Directors for particular purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donor or by the terms of an appeal. ncomin resources All incoming resources are included in the Statement of Financial Activities (SOFA) as soon as the organisation is entitled to the income and the amount can be quantified wth reasonable accuracy. The following specific polices are applied to particular categories of income: Voluntary income is received by way of grant, donations and gifts and is included in full in the SOFA when receivable. Donated services and facilities are included at the value to Ihe organisation vthere this can b8 quantified. The valu8 of seNic8s provided by volunteers has not been included in these accounts. Investment income is included when receivable. Incoming resources from grants which are related to performance and specific delivepbles are accounted for as the organisation eams the right to consideration by its perfonnance. Grants where entitlement is not conditional on the delivery of a specific perfomiance by the organisation are recognised when the organisation becomes unconditionally entitled to the grant. Grants received in advance for future accounting periods are credited to deferred income. 14
ACCESS TO BUSINESS NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 d) Resources ex ended Expenses are recognised on an accrual basis as a liabiltty is incurred. Expenditure includes any VAT vthich cannot be fully recovered, and VAT is reported as part of the expenditure to which it relates. Costs of generating funds comprises the costs associated with attracting voluntary income, including an apportionment of staff time if material. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and seNices for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Govemance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity, and include the audit fees and costs linked to the strategic management of the charity. All cost are allocated between the expenditure Categories of the SOFA on a basis designed to reflect the use of resourGes. Costs relating to a particular activity are allocated directly. others are allocated on a basis consistent wth the use of the resources e.g. in proportion to staff costs relating to that activity. eratin leases The organisation classifies the lease of certain office equipment as operatlng leases. Rentals payable under operating leases are charged to the SOFA on a straight line basis over the tem of the lease f) Pensions The organisation does not operate its pension scheme. Contributions are made directly to employees, personal pension plans where applicable g) Fixed Assets Fixed Assets are stated at cost less accumulated depreciation. The cost of minor additions or those costing less than £1000 are not capitalised. Depreciation is provided on a straight lin& basis at a rate designed to write off the cost of each asset over its expected useful life at the followng rates: Property 2. Office equipment and computers 33¥0 Fixtures and 15Yo fittings 2 Income from Donatlons General donations 3.000 17.331 20,331 5,741 15
ACCESS TO BUSINESS NOTES TO THE FINANCIAL STATEMENTS - COTrtriNUED FOR THE YEAR ENDED 31 MARCH 2024 3 Income from Charilable Activities Grants and contracts A2B Barrow Cadbury Black Country Futures City Economy Fund Community renewal Fund - Skills Community renewal Fund - over 50s navigator Community renewal Fund - Digital Skills ERDF less claimed on behalf of partners HofE-ACTIV H of E- Community Matters H o E - Know Your Neighbouthood ISE Kick Start MCHLG Covid National Lottery - Awards for All National Lottery - Building Better Lives Natwest Santander STW UK SPF - Access 4 All WCC Mind @ Work wcc - wton Enterprise Project wvsc Restricted Unrestricted Total 2023 7,323 2,237 16.704 17.250 2,237 16.704 17.250 69,000 43,886 24.961 5.520 68,657 255.941 (17,050) (61,230) 74,773 68.657 (17.050) 74,773 14,085 20.000 5.557 3,215 8,021 3.333 124.473 124.473 6,667 75.1)00 5,000 70.833 912 59.944 6.667 75.000 5,000 20,500 70.833 53.750 912 161.863 59.944 10,000 17,250 17.250 7.500 522.651 522,651 853,226 Charitable 4 Charitable ktlvlty costs Cllent support Premises Office costs staff costs Management f ees 49.345 49,345 38,515 36,779 36,779 34,529 42,547 42,547 48,923 21,088 517.965 585.699 35,770 59,045 496,878 34,874 581,097 101,311 682,408 766,713 16
ACCESS TO BUSINESS NOTES TO THE FINANCIAL STATEMENTS - copifiNUED FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 5 Net IncomelExpenditure Net Incom8 lexpenditure is shown after charging: Depreciation - owned assets Ind8pend8nt Examinets fee 7,220 1,313 7.220 690 6 Trustees. Remuneration and benefits No TNstee received any remuneration or benefits (2023 Nil) No trustees Vre reimbursed any expenses (2023 Nil). 7 Staff costs Salaries Pension contributions Social Security costs 452,279 8.428 515.428 11.275 34,369 45,560 495,076 572.263 The average number of employees during th8 year was 24 {2023 - 24) The number of employees eaming over £60.000 was NIL (2023 Nil) 17
ACCESS TO BUSINESS NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 8 Tangible Fixed Assets Off ice me and Land and and COST At 1st April 2023 361,008 20,890 39,426 421,324 At 31st March 2024 361,008 20.890 39.426 421.324 DEPRECIATION At 1st April 2023 Charge for the year 108,301 7,220 20,890 39,426 168,617 7,220 At 31st March 2024 115.521 20.890 39.426 175.837 NET BOOK VALUE At 31st March 2024 245,487 245.487 At 31st March 2023 252.707 252.707 2023 9 Debtors Debtors Prepayments 14.121 73,370 144,756 21.956 87.491 166.713 10 Creditors mounts f allin e wthin one Bank loans and overdrafts Social security and taxes Deferred income Accrued expenses 9,760 9.524 1,257 60,417 36.965 76.222 47.598 133.581 108,163 11 Creditors Amounts fallin due after more than one Bank loans due within 2 to 5 years Bank loans due in more than 5 years ear 48,128 80,330 45,687 92.185 128.458 137,872 18
ACCESS TO BUSINESS NOTES TO THE FINANCIAL STATEMENTS - COPINuED FOR THE YEAR ENDED 31 MARCH 2024 Claimed on b half As at 1st ri12023 As at 31st Transfers M rch 2024 11 Movement in Funds Income artners nditure Restricted funds Barrow Cadbury Black Country Futures ERDF ERDF Match FIX ThÈRi9P9t'¥We ISE ERDF match Lotterythft)£fETrlll LotteryLgwl'w&9tter 2.237 16,704 68.657 17.250 (2,237) (16,704) {96.955) (17.050) 45.348 (17,250) -1S7640) .79439 -1È1%é73) _79439 -157(f6@67) _79439 -15¢V6900) .79439 79439 1PJrt6è 1 *9É6 988 79439 79439 79439 Lives HOE WÈJÈ match MCHLG Covid Multiply Natwast 71èè -15ffié73) .79439 7.754 79439 (7,754) 37,500 5.000 912 70.833 59.944 17,250 (37.500) (110) (912) (70,833) (59.944) (17.250) (4,890) S2W Santander UK SPF-AcGess 4AII wton Enterprise Project .754 583.641 17,050 589,799 30,962 381,620 100,383 (92.609) (30.962) 358,072 381.620 100,383 (92.609) (30.962) 358.072 Total Funds 373,506 684.025 (17.050) (682,408) 358,072 13 Analysis of net assets between funds Unrestricted Restricted funds funds Total 2023 Fixed Assets Current Assets Current Liablllties 245.486 374,625 (262,038) 245,486 252,706 374.625 366,835 (262,038) (246,036) 358.072 358,072 373,506 19
ACCESS TO BUSINESS NOTES TO THE FINANCIAL sTATEMErs - coTrtriNUED FOR THE YEAR ENDED 31 MARCH 2024 Comparative Statement of Financial 14 Activilies 2024 Total 2023 Restricted Unrestrlcted INCOME Total Donations General donations 20,331 5,741 5,471 Charitsble activities Service delivery Grants and contracts 123,993 105,739 105,739 522,651 625,188 28.038 653,226 666.974 625.188 139.518 764.707 EXPENDITURE Charitable activities Service provision 682,408 682,267 84,805 767,073 682,408 682.267 84.805 767.073 NET INCOME (15.434) (57.079) 54,713 (2,366) Funds brought forward Transfers between funds 373,506 375,872 375.872 {49,325) 49,325 Funds ¢arrled forward 358.072 7.754 381,260 373.506 20