Company Registration No. OPAJ74602 (England and Wales) Charity Registration No. 1140032 [EJIaNj and Wales) PEDESTRIAN LIMITED (UMITED BY GUARANTEE) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sf JULY 2024
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sf JULY 2024 Page CONTENTS Legal and administrative infomiatrjn Trustees, and DIrtorn. report Independent Examiners. Report Statement of financial &tivities Balance sheet 10-15 Note5 to the financial statnts
PEDESTRIAN LIMITED {LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31ST JULY 2024 Incorporated Company Number 301h January 2007 74602 Charlty Registralion Charity Number 25th January 2011 1140032 Company Directors and Charity Tnmtoes T &"rch H Carter N S Hassan M McConrKithie D Milchirson S Oldman H sarn0n O Southwell Z K O Stannard J E Walt8 Appointed 5 June 2024 Appointed 28th August 2024 Resigned 28th August 2024 From 28" February 2024 Ghair TaSurer Chair Resigned 28th February 2024 Resigned 28th February 2024 From 28th February 2024 K Wesl*wd Vice-chair Chief Officor l Executive Dlrnctor H BadgerUisty P Snape (Interim} (5th December 2022 to 31 St August 2023) Reg13terod Office and Operational Addr 29a Horsefair Street Lster LE15BP Accountants Topaz Soluts'ons Limited Chartered AcLountants 5 Giffard Court Millbrook Cbse Northampton NN5 5JF Bankers HSBC 30 Abington Street Northampton NN12AN Page 1
PEDESTRIAN LIMITED {LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST JULY 2024 The trustees and directors ofthe charitable company presart thr report and the unaudited financyal ststements for the year ended 31 July 2024. The infomiation set out on page 1 fonns part of this report. Vlsion Our wsion is to see every child and young person recognise their pioneenng Potential through patt"cipating in arts and creative activity. Mission We use arts and creativity as a vehicle to engage. empoer and enrich childm and young people lives {up to the ago of 251, who experience challenges and disadvantages. Objectivas and Actlvltles Tre objectives for which thè chartty was established. as definay in the Memorandum and Artides of Association, and amended in August 2015 are to promote charitable purposes onty.. more specificalty.. a) To advance in life as wide a range of people as possible to express themselves artistically by the provision of complimentary services and acs'vities to such individuals. 1¢h develop their skn'lls, capacrty. and capabilities to enable them to parb"cipate in scciety. bl To fvrther such charrtable causes both locally and nationalty as time to time detem)inal by the members in the support of the Company's primary otyedive. Publlc Benefft The Trustees confirm that they have referred to the guidance contained in the Charity Commis&on's general guidance on public benefft en reviewng the organisation's aims and objectives and in planning fvture activeS. Public Benefit is demonstrated more specjfically in the followng Achievements and PerfOrrnan section which highlights speofic work undertaken across Pedèslrian's provision. Structure, Governance and Management Goveming Document The organisathon is a tharitsble Lt)mpany limited ty guatee. The Ghanty is constrtuted, and governed, by its Memorandum and Arb'cles of Assoaation dated 30th January 2CKJ7. amended 20 January 2011, 1 * November 2013, and 1 August2015 The company became a registered charity on 25tr January 2011. In the event ofthe¢ompany being wound up. members are required to contrilxrte an amount not exceeding £1. Trustee&Directors and InduGlion The trustees and dirtOrS who have served throughout the year. unless a date of appoinlment or resignation is noted, are listed on page 1 of this rep)rt. The organisation provides all new trustees wrth an Information pack containing details of the role of a chanty trustee and their lègal rights and responsibilib.es induding guidance from the Chaiity Commission. Following Suuessful application. Trustees wll attend an induth.on toard meeting to familianse theMsees wlh their peers and the organisation, and to fractlitate their decision making in respect of nominab.ng themselves for a 3_year term. at the follown9 board rneeting or AGM. Trustees will then be elected by unanimous vote ofthe 0r Trustees. Organi$allonal Strueture Pedestrian has been transforming the INes of vulnerable arwj disadvantaged thildren and young people in Leicesterlshire through creativty for over 25 year5 We are an arts and education organisation that provides education, outreach and training to children and young people {up to the age of 25) at risk, whom are often socially exduded. in challenging circumstances and experiencing disadvantages. sin 1998. we have built a strong track record of delwering high quality creative activity that has seen us complete over 16,2C() V•f)rkshop$. Page 2
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST JULY 2024 (Continued Organlsatlonal Structure {¢ontinued) Our work increases confidence and setf-esteam. improves mental heatth & wellthing. develops lifelong skills and gives young people a voice. We do this through three main areas of work: Alternallvg Education Provision {AEP)- we run an accredited altematrve to school for 14-16 years who are not or have struggled in mainstream educab.on to achEve tr¢eir goals. Utilising mentoring wnaples to develop the ole person, alongside a framework of rwised accre(fitskn"on bthich is appropriate to the level, needs and interest of the learner. Early Int&rventlon & Outrea¢h- a series of outreach projects wrth schools, local groups and partn organisabons supporting the most vulnerable in the o)mmunity caused by barriers such as isolation causod by geographical or economical factor5, 'n9 in the care system or those at risk of criminalisation or other hamfijllrisky pt3ctices. Progresslon & Tralnlng- prowding support to those interested in wotking in the croative sector through training, plaMentS and quali)Ications. This also includes programmes which help progression to the next phase of development, seek to train emerging pr&kn"ts"oners and practicing professionals. A Message from the Chalr As we reflect a year of groYAh and transfomation, we are prtyjd to uphold Pgjestn'an's vision to see evèry young person regnIse their pioneering potential through partiapating in arts and creative activity. Our mission to use arts and creativity as a vehicle to engage, emtx)wer and enrich young people's Iwes has been strgthened by our dedication to expanding our Altérnath've Educats'on wograms this year, woviding oppjrtuntbes for those who thrive in non-tradib'onal environments. Guided by our core values of pioneering. creativrty 8 fijn, reflective, respect and partnerships collaÈoration, we remain steadfast in our belief that every individual has Ihe potential to succeed with the right SUPPOrt. This success Wuld not be possib lhiihout the incredible commttment ofour staff. 0 go above and beyond in their roles to ensure the charity remains resilient and adaptable. From ddivenng impactfvl eduL>tion to stepping up in other capacities when needed, thar ffextbt'lrty and dedicats.on are the b8drock of Pedestrian's strength. We are deeply gratefvl for their ongoing efforts in hélping us fulfil our missKJn. We also extend our heartfelt thanks to our partners, sponsors and trustees, vthose unwavering support has enabled us to innovate and expand. A highlight of this year has been the launch of Grime OFera-an excib'ng fusion of Grime and classical music, performed by our young Pedestrian musiaans and LeItershi[e Music's orchestras. As we look ahead, we are exutgj to embark on the planned expansion of our ajrrent building. lch VMII allow us to continue offering transfomiative opportun¢ties to even more young people. Together. we are supsxjrting more and more young people 0Treer their Kotentsall Sam Oldman, Chair Page 3
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST JULY 2024 (continued) Achlevements and Perforniance Organlsation Ststistics We are parbcsjlarly proud of what we achieve at Pedestrian and strtve to improve on our results year on year. We are pleased to Fxesent some of our statistscs in re8t of we have vK)rkgJ smth, and some of the outcomes we have achieved. Working wilh 2506 young pecwe. Collaborating wrth 72 partners. Number of sessions delivered". 335 Number of YP Supported for over 3 months.. 12 Number of unaccompanie(J asylum seekers.. 8 Number YP in AEP.. 58 Number of primary school children worked Yth 246 Number of train88s prath"tioners support&l'. 3 Number of YP on work experience placements.. 6 Number of festivals wrth free activty". 7 Organlsational Achievements Pedestrian's tag line is 'Pioneering Potential., Our prcgrammes and courses embed proven mechanisms that develop conffiden, emotional resilience and increase self-esteem. This in turn leads lo success in a variety of forms including employment. job creats'on and education progression. The Board remains focused on supporting the CEO and the team and it is safe to say Ihey are incredibly proud of all Pedestrian has managed to achieve in 2023-2024. The success over the lasl year is truly a reflection of the tslented people involved. The CEO and team, the tutors and artists have been ae to adapt quickly and continue to delNer the high-quality sermces our young people, funders and partners have Come to expect. We value the creab.ve industries and the talented professionals within it. championing successful collaborations and patherships with organisations following similar charitable aims. Sevéral successfijl collaborations hth organisations such as Arts Counejl England, Childn in Need and Youth Music have enabled us to strengthen our remit and reach and have provided a solid platform as tha organisation tslebrated ils 251h year of delivery Future Activities Like all Third Sector organSaIlOns, Pedestrian faces a huge challenge in develoF4ng ils services in Ihe face of massive cuts in funding to the sector, but the Trustees a fA)nfident that we Yrfill meel Ihis challenge. Thé TNstees recognise that that. as wth 211 third sector organisat'ons. we must diversify our income streams to en5 the long4emi sustainability of Pedestrian. The Trustees contsnually review the operations and acti"e$ of the or9anisation bwhich wre affeded by the COVID-19 pandemic. The organisation uJnts"nues to rxowde the serVIS and income generation was maintained, therefore, the Trustees are sab'sfied they have taken all reasonable steps to safeguard the ongoing and fvture activities of the organisation as far as they are able. In the OnIOn of the Trustee5. the organisation remains a going conc8m and wth the Senior Man£gernent Team and staff team conb.nued to Work on their current 3_year strategy. To achieve our purpose, vision, and mission, wOlg in a way that is true to wr values and culture. the strategic aims we need to strive for are". To fiJrther develop our Altemative Edu(£tion Provision IAEP) offer to young people in a sustsinable way, continuing to build on our reputation as the best cty centre provider. To build our reputation in the local conimun"eS to be recognised for our expertise in providing high. quality creative experiences for all children and young people. Building more partnerships and commissions. To grow the capability & caparyty of the Organisatn to realw the pioneering potenbal of Pedestn"an and the creative professionals who work for & wth them. To develop flagship projects that give us 8 regional and national profile. 5. To be part of the L&cester{shire) arts & ¢xJltural scene. 6. To seek a new, 8nvironmentslty friendly cty-centre premises aSsite to all. Page 4
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31ST JULY 2024 (continued Financial Revlew The charity made a surplus for the year of £7,025". {2023 ~ deficit £ P,752)). The Charity has unrestricted tsserves of £87,813 of which £55,OC(J has been allocated by the Trustees as designated reserve. as described in note.10 of the finanaal statements. The principal fvnding sources ofthe charity are grant4naknng organisations and Local Authorities. Investment Policy Under the Memorandum and ATbdes of As9Jciaticffi, the charity has the Ex)wer to make invesbrents lch the trustees see fit. Reserves Policy The Board ofTrustees has examined the Charity's requiremeTrts for reserves in light of the main risks to Ihe organisation. It is the policy of the Charty to maintsin the reserves fund at a level to provide sufficrent ftjnds to cover all relevant costs to see the existing activth'es through to a sats'sfadory (ndusion. This is the unrestrrcted fvnds, which ar8 the free reserves ofthe Charity. Due to the nature of the activities of the Chanty, this may vary signifficantly depending upon en in the calendar year such fjJnds may be required. Our wlicy. in the opinion of the Trustees. is Ihat the restricted funds, not committed or invested in tangible fixed assets and de&gnated fvnds held by the charyty, should be a minimum of approximately three months and a maximum of six months of charitable expenditure. The Trustees monrtor the unrestricted fvnds on an ongoing basis and rewew the reserves policy, including the level of reserves held, on an annual basis. Core expenditure for3 months in 2024r25 is £27,785 (apkYOX. £9.261 per month) and therefore the tsrget is set at £37,046 {approx. 4 months running costs) in general funds. The reserves are needed to meet the working capital requirements of the charity. and the Board of TrLtstees are confident that at th level they would be at4e to continue the current activities of the chanty in the event of a significant drop in funding andlor in the need to dissofve the chanty. ilst unrestrided funds stsnd at £87,813 a deSnaon of£50.IJXI has been set aside for relocation and rofvrbishment osls ofthe existing pMISes. Shortly after the yearnd, the company expanded the occupakn'on ofthe extstsng premises to include the ground floor, which requires extensNe aiterab'ons to mak8 them fil for purpose. Free reserves are £37,813. We expect everyone who represents Pedestrian at senior, toard. and trustee level to have read, understood and adhere to this policy and related procedures. Please see ApFenth 1 for referen on calculations. This policy is reviewed on an annual basis. Rlsk Management The trustees and directors conduct their own review ofthe risks to vthith the thanty is exposed and establish systems to mitigate those risks. These systems are Feriodicalty rewewed to ensure Ihey still meet the needs of the charity both now and in the fvture. The organisation has developed a risk register vthich is revie*Ed by the board oftrustees tEricxJically. statsment of Tru8tees' Responslbllltles The trustees Ibtho are also the directors for the purpose of¢)Jmpany lawl are reswnsible for preparing the Annual Report and the financial ststements in aCrdanCe with alble law and regulab'ons. Company law requires the tTUStees to preFqre financial ststements for each financid year. Under that law the trustees must prepare the financial statements in accordance United lthngdom Generally Accepted Accounting Practii {United Kj'ngdom Accounting Standards and applicable law). Under ¢x)mpany law the trustees must not approve the financial statements unless they a sat"sfied that they give a true and fair wew of the state of affrairs of the charitable company and of the incoming resources and application of resources, irKluding the income and expenditure, of the charitable company for that period. Paoe 5
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST JULY 2024 (Continued) statement of Trustses, Responslbilities {continued) In preparing these financial ststemwts, the trustees are required to.. select suitable accounting poliaes and apply them consistently observe the methods and prinaples in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been f10ed, gAJbject to any material departurts disclosed and explained in the finanoal statements. and prepare the financial statements on the going concem basis unless rt is inappropriate to presume that the charitable company wll (x)ntinue in operat"on. The trustees are responsible for keeping adequate ac(xJunts'ng records thal are sufkient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any time the financial position of the charitable company and enable them to ensure that the finanaal statements comply the Companies Act 2006. They are also reswngble for safeguarding the assets of the company and hence for taking reasonable steps for the prev8nb.on and detection of fraud and other irregularities. This report, which is a DireGtor5' Rewrt required by s417 ofthe Companies Act 2006, has been prepared in accordance th the Statement of Recommended Practice.. Accounkn"ng aThJ Reporting by Charities (revised 2005) and in a(rordance th the special provisions relatin9 to small companies bvithin Part 15 of the Companies Act 2006. This report was approved by the Trustses on 27th Novert)er 2024 and signed on their behalf Iw." S Oldman Chairperson Page 6
INDEPENDENT EXAMINORS REPORT TO THE MEMBERS OF PEDESTRIAN UMITED {LIMITED BY GUARANTEE I report to the Trustees {who are also Directors for the purpose of o)mpany law) on my examinats.on of the financial statements of Pedestrian Limited for the year ended 314 July 2024 lch compnse the Statement of Finanoal Activities, the Balance Sheet, and relatgj notes. This report is made solely to the charity's trustees, as a tmjtty. in accordance bMth the section 145 of the Charities Act 2011. My Work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this rewrt and for no other purpose. To the fiJllest extent pemitted by law. I do notapt or assume responsibility to anyone other than the charty and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Responsibilities and basis of report As Trustees of a charrtabie company, you are responsible for the preparation of the fin8nc4al statements in accordance th the requirements of the Companies Act 2006, (kne .2006 ACVI. Having satisfied myself that the financial statements of the charitable company are noi required to be audited under Part 16 of the Act and are eligible for independent examinats'on, I report in respect of my examinati of the charitable company's financial statements caryied out under seth.on 145 of the chartb.es Act 2011 {Ihe 2011 Act.) and in carrying out my examinatson I have followed all the applicable threchons gwen by the Charity Commission under section 14515llb} of the 2011 Act. As pemitted by Direction 2, issued by the Charrty Commission the finn for bthich I rk has provided the Company wth bookkeeping services dunng the year ended 31sI July 2024. As a consequen. I have followed thè requirement of the FRC'S Ethical Standard when underta.ng this assignment. An independent 8xamination does not invdve gathering all the eviden that wDuld be required in an audit and consequendy does not cover all the matters that an audtior considers in giwng their opinion on the financial statements. The planning and conduct of an 8udf( goès beyond thè limited assurance thal an independent examination can provide. Consequently, l express no OF¥nion as to bthether the fjnanckql statements present a 'true and fairf yW. and my report is limited to those specific matters set out in the independent examin&s statemenL Independent examinerfs statement Since the charitable company's gross Iorne exceaded £250.CK)O your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi thal l am qualified to undertake the examination because l am a member of the ICAEW bthich is one of the listed bodies. I have completed my examination. I CfirM that no material matters have Gcme to my attenti(m in connection wth the examination giving me cause to believe that in any material respect.. accounts'ng records were not kept in respect of the charitable ccmpany as requir&J by stIOn 386 of the 2006 Act., or the financral statements th) not accord th those records". or the financial statements do not comply yh the aco)unts"ng requirements of secb)n 396 of the 2006 Act other than any requirement that the financi statements give a 'tnJe and tsir Mew which is not a matter COndered as part of an independent examinakn"on", or the financial 5tstements have not been pred in a¢xordance th the methods and prinarAes ofthe Ststement of ReC(rnended Practice for accounb'ng and rewrting by charities applicable to charibes prepanng their accounts in accordanc£ wrth the Finanaal Repong Standard applicable in the UK and Republic of Ireland IFRS 102). I have no C1)nM$ and have come across no other matters in conneth.on th the examination to which attention should be drawn in this reFrt)rt in order to enable a propel un(*rstanding of the financial ststements to be reached Va essa Graham FCA Topaz Solutions Limited Chartor8d Accountants & Registered Auditor 5 Giffard Court Millbrook Close Northampton NN5 5JF q . DIF Page 7
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31STJULY 2024 2024 unrestrict Restricted Funds Funds 2023 Total Funds Total Funds Income and endovmients from: t)onations and legacies Income fmm charitable activities.. Grants receivable 10.327 10,327 3,566 15,335 175.981 12.000 343 112.421 127,756 175,981 12,000 343 150,224 139,996 4,000 811 Fees recetvable Sponsorship Rental income Otherincome Bank interest 2.553 2.553 981 Total income 216.539 112.421 328.960 299,578 Expenditur• on: Expendrture on charitable acltvities 209,514 112,421 321,935 302,330 Total Expendituro 209,514 112,421 321,935 302,530 Net mov•rn•nt in funds 7.025 7,025 {2,7521 Total funds bught foTbYard 80,788 80,788 83,540 Total funds carried forward 87,813 87,813 80,788 The resutts for 2023 include restr gr8nt income of £148,128 and restrict&J expendrture on tharitable activities of £148,128, lch is described in note 3 ofthe accompanying notes to the accounts. The statement of financial activities includes all gains and bsses recognised in the year. The surplus for the year for Compani88 Act purposes is the surplus rerted atove. All income and •xp•nditure deri from ccrtinuing activi9. The accompanying notes on pages 10 to 15 fonn an integral part ofthe awunts. Page 8
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31ST JULY 2024 NotOS 2024 2023 Fix•d A88•ts Tangible fixed assets 12.0 6,045 Curront A•80ts Debtors Restnded fiJnds deposit account Cash at bank and in hand 30,870 87,711 62,633 30,356 98,455 61,144 181,014 Crndltorn: Amounts f811ing due within one year 188,944 (105,2811 (115.212) Net Current A88ets 75.733 74,743 Net A880ts 87,813 83.540 Reprn8ented by: Restricted fvnds Operating fund Designated fund 10 10 32,813 55,OC4J 50,788 30,000 87,813 80,788 For the financial year ended 31 July 2024 the rnpanY was enlltled to exemption from audrt under seLtion 477 Companies Aca 2006. No member of the company has deposited a notsce, putsuant to se¢tson 476. requinng an audit of these financial statements under the requirements of the Companies Act 2006. The directors a¢knovA8dge their responsits'lrtJ"85 for ensuring that thè company keeps aUntIng CordS thich comply th section 386 of the Acl 4nd for pparing fin8naal statanents Nthich gve a true and fair view of the state of affairs of the company as 8t the end of the financial year and if its profit or loss for the financial year In 8ccordane6 wth the requirements of sections 394 and 395 and olherbmse comply wth the requirements of the Companies Act 2006 relating to accounts, so far a$ applicable to the company. These financial stat8ments have Wn wepared in accordan with the special provisions rèlating to small companies thin Part 15 oflhe Companies Act 2006 and wth Accounting and Reporting by Chanbes. Ststement of Recommended practi applicable lo charities prepanng their accounts in accordance wth the Financial Reporting Standard applicalje in the UK and Republic of Ireland IFRS 102} {effeth 1st January 2019)-'Charities SORP {FRS 1021. Approved by the Board for issue on 27th November 2024 S Oldrnan Chairperson O Southwell TreaSur The acLomFAnyrn9 notes on pa9? 10 to 16 form an inte9ral part of Ihc acGounto. Page 9
PEDESTRIAN LIMITED ILIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024 Ac¢ountlng policle3 Ba81• of prnparatlon The Financ1 Statements have been prepared in accordance wth applicable A¢¢ounting Standards in the United Trfj'ngdom and wth Accounting and Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their accounts In accordan with thè Finanoal Reporting standard applicable in the UK and Republic of Ireland IFRS 102) {effectN8 1* January 2019}-"Chariti•s SORP IFRS 1021 and the Companies Act 2006. Ineomlng ro8oure88 All incoming resources are included in the stat8ment of financial activities when the Charity is entitled to th8 incomè and the amount can be quant.fjed wilh reasonable accuracy. The has been offseth'ng of assets and liabililEs orincome and expenses, unless qUired or pemitt&J by the FRS 102 CHARITIES SORP or FRS 102. Grants and donats'ons are induded in the Statement of Financaal Atthvities %then the general ino)me cril&ria are mel in accordanL% Nmth paragraphs 5.10 to 5.12 of FRS 102 CHARITIES SORP L8gaci88 are included vrtthin the Statement of Financial Ath"vities Wh lpt is probable, that is whén there has been grant of probate, the executors have estsblished that there are suffioent assets in th@ ostste and that any Gonditions attached to the legacy are either within the control of the charity or have been met. 1.3 Fund accountlng Unrestricted fvnds are available to spend on actiwties that fvrther any ofthe purroses ofthe Charity. Designated fvnds are unrestricted funds set aside by the Trustees for use for SFecific purposes Restricted ndS are grants and donabons which have been received for specific projects of the charity. 1.4 Tanglbl• Flxed Assets Tangible fixed assets, t)Iher than freehold land. are stated at cost or valuatson less depreciation and any provision for impaimient. Dèpreaalion is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value over their expected useful lives on the followng basis.. Equipment, ffixtures. and fittings 25% Straighl line 1.6 Flnanclal Instruments The company has elected to apply the wovisions of Section 11 'Basic Financial Instruments, and Section 12 '0thgr Financial Instruments Issues. of FRS 102 to all ts fin8noal instfuments. Finanoal instruments are reo)gnised in the companvs balance sheet vkn the company becomes party to th8 contractual provisions of th• instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial $taternents, when there Is 8 legally enfo¢8at4o right to set off Ihe recognised amounls and there is an intention to settle on a net basis or to realise the asset and $ott1è the liability sirnultaneously. Baglc Ilnan¢lal assets Basic financial assets, which incIle debtors aThJ sh and bank balances. are inrtially measured at transaction price including transaction costs and are subsequenlfy carried at amortised o)st using the effective interest melhod untess the arrangement constrf(utes a financin9 transaction, where the transacbon is measured al the present value of the fijture receipts discounted at a market rate of interesL Finanaal assets ¢lassifi8d as receivable within one year are not amortised. Classlllcation of financial liabilitles Financial liabiSities and equity instruments are classified accAJrding to the substance of the ntraCtUal affangemenls entered into. An equity Instrument is any contract that eviden5 a 5]dUal Interest in Ihe assets of the company after deducting all rts liabi1th8S. Page 10
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31$T JULY 2024 Accounting policies (continued) 1.5 Flnan¢ial In8lTuments {¢orrtlnued) Basic financial liabilities Basic financial liabil4lies, including cred-rtors. bank loans. loans from fellow group companies and preference shares that are classified as debt, are inib'ally ognISed at transaction price unlèss the arrangement constitutes a finanrAng tfdnsacts'on, where the debt Instrument is measured at the present value of the ftre payments discounted at a market rate of interest. Financial liatj'lities classified as payable wlhin one year are not amortised. Debt instruments are subsequenty carried at amottisgj cost, using the effectNe interest rate method. Trade credrf(ors are obligations to pay for goods or serwces that have been acquired in Ihe ordinary course of business from suppliers. Amounts payable are classified as current liabilitie5 if payment is due vh1n one year or less. If not, they are presented as non-current liabilities. Trade creditors a recognised initTrally at transaction price and subsequenly measured at amortised cost using the effectNe interest method. 1.6 UK taxation As a registered Charrty, the o)mpany is exempt from certain elements of UK Corporation Taxats'on. 1.7 Expenditurg Expenditure is recognised when there is a legal or wnstructive obligation to make a payment to a third party. Costs of charrtable activthes comprise the costs incurred by the Charity to meet its charrtable objecttves, the pmvision of services and facilities. SupFOrt costs are those costs incurred to enable the Charity to deliver its programme of activib"es. Salaries not funded by restncted grants are apwrboned on the folloviing basis.. CharrtatAe a1V[b"eS Support costs 12023- 97%) 12023 - 3%) Grants rec•ivable (Restrlcted Fund8) Deferred Grants BIF Grants Received Deferred Grants Cff Grants Rocogn188d Arts Council England ASDA Foundatr"on Bentley Communrty Grant Children in Need Garfield Weston Foundation LCC Digitsl Communty Grant LLR Communrty Foundation National Foundation for Youth Music National Lottery The Arts Society Violence Reduction NetvL)rk 19.591 5.622 570 493 20,C( 15.C 10,025 25,213 570 {4g3) {10,OLIJ} (2,306) 11,278) 10,000 12,694 8,747 950 36,894 18,181 1,904 4,432 950 46,029 6.837 {14,802) {35,8CQ} 47,144 7,9CM] 111,4321 83,275 112,421 (76,111) 119,585 Page 11
PEDESTRIAN LIMITED (LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS iconllnued) FOR THE YEAR ENDED 31ST JULY 2024 Expenditure on charilable activilies 2024 Unrestricted 2024 Restrlcted 2024 Total Salaries and wages Tutors and consultants Materials and equiFffient Fees. licere5, venue hire and subsisten Supportcosts (note 41 75,124 61.172 52.778 46.561 5,650 4,535 2.897 127,902 107,733 6,496 15.583 64,221 11.048 61,324 209,514 112,421 321,935 2023 2023 UTrrestrIct Restrlcted 2023 Total Salaries and wages Tutors and consultants Matenals and equipment Fees, li(¥nces. and venue hi)? Support costs {note 4) 39,454 56,612 93,630 39,908 4,748 2.092 7.750 133,084 96,520 5,244 7,312 60,170 5,220 52.420 154,202 148,128 302.330 Page 12
PEDESTRIAN LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS Icontinued) FOR THE YEAR ENDED 31ST JULY 2024 Support Costs 2024 2024 Unrestricted Restricted 2024 Total Salaries and wages Staff training, weifare, travel & sub5iStence Premises cc6ts Offi expenses Professional fees Accountancy and bCeepIng fees Compliance fees Interest and bank charges Depreciation of fixed assets 6,731 4,115 24,884 8,230 2.107 12.000 962 6,731 5,412 26,464 8.230 2.107 12,000 962 95 2,220 1,297 1.600 2,220 61,324 2,897 84,221 2023 2023 Unrestrlcted Restricted 2023 Total Salaries and wages Staff training, wdfare. travd & subsistence Premises Costs offi exFenses Professional fees Accountsn¢y and bkeepIng fees Compliance fees Interest and bank charges Depreciation of fixed assets 3.224 2.284 20,834 7,281 4.120 11,000 1,311 147 2,219 3.224 4,484 26,384 7,281 4,120 11,000 1,311 147 2,200 5,550 2,219 52,420 7,750 60,170 Totsl Resources Expendgd 2024 2023 Staff o)sts comprise.. Wages & Salaries {induding sooal security costs) Pension costs 125,197 9,436 127,123 9,185 TnFStee8 Remuneration The Trustees did not receive any remuneration during the year un¢Syr review and there wer8 no reimbursed expenses (2023 - £nil) Page 13
PEDESTRIAN LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024 Tangible Flxed Assets Offlce Equipment At Cost At 1. August 2023 Addjb'ons 10,868 8,255 At 31st Juty 2024 19,123 Deproclatlon At 1S1 August 2023 Charge for the year 4,823 2,220 At 311t Juty 2024 7.043 Net Book Value At 31st Juty 2024 12,080 At 31$1 Juty 2023 6.045 Debtors 2024 2023 Amounts ceivable- restn.cted activities Amounts recavable- unrestricted activities Other debtors and prepayments 10,025 9,058 11.587 26,512 3,844 30,670 30.356 Credltors: amounts falllng due within one year 2024 2023 Trade ¢dItOrS Deferred income- restricted aclivites Deferred income- general aciivitses Other crgjitors 2.372 76,112 8.514 83,275 575 26,797 22,848 105.281 115,212 Pagg 14
PEDESTRIAN LIMITED {LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024 Restricted Funds Restricted ftjnds represent grants received for speafic projeds ExFendittJre is malched to income over th8 period of the grant. Deferred IncTre represents fvnds received for projects which wll be completed in fvture financial penods. Deferred income represents restricted fijnds and is rnatCh by fvnds hdd in dep)sit accounts and any outstanding debtors or creditors at the year-end. 10 Analysis of Funds Restricted Funds 2024 2023 General Fund 2024 2023 Balance brought fowdrd Incoming resourGes Outgoing resources Transfer (to) fftom designated fijnd 50,788 38,540 216,539 151,450 1209.5141 (154,202} (25.OCOI 15,OCK) 112,421 148,128 (112,4211 (148,128) Balance rrd for*rdrd 32.813 50,788 Deslgnated Funds 2024 2023 Relocation a1 premises reserve 55,000 30,01)) 30,0(K) 11 Analysis of Net Assets BetvRen Funds Restrlcted Funds Unrestricted Funds General Designatsd Fund Fund Total Fund balances at 31# Juty 2024 are represented by: _ Tangible fixed assets Debtors Cash at bank & in hand Creditors Deferred income 12,080 20,645 7,633 (7.545) 12,080 30,670 150,344 {29,1691 {76,112} 10,025 87,711 {21,624) 176,112) 55.000 37,813 55,0(X) 80.788 12 Controlllng Party The company is limrted try guarantee. There k8 no ultimate controlling paty. Page 15