Company re8iStration number.. 07564773 Clwtty registration tyuYDbw. 1141690 The Ark Association {A n)patty ]imit¢d by guar1) Ann[ Report and Financial Staterc£nts for th¢ Yw End 31 March 2025 Mrs Sara PeY AIMS Accountsnt5 for Business 9 Church Street Rutland LEI 5 7JE
The Ark Asso¢iatioJ) Contents Refe(ence and Administrative Details TnL#ees' R¢pon 2to7 StsMi¢ni of Tnte¢s. RespoDsibilities 9tolO Sr#*trJ¢ttt of Fiuan¢ia] A¢tiYities Balajre Sb¢et 12 N4ltcsto thr Fin3nriol Stst¢mts 13to22
The Ark Association Reference and AdmiDistrative Details Trustees C M¢Grory N Cowling M Foort L Trevoi (resw 15 April 20241 L Starkey S J Davis Princip81 Offite do Oakh8m C of E School BuTley Ro8d oakTh Rut]aud LE15 6GY Company ReglJtrntioJL Number 07564773 Charlty ReOstr#tiox Number l L41690 Solleltors Freeth CartTight LLP CuDknerland Court 80 Mount Streft NottingILll NGI 6HH Independent Ewmfjmer MTS Sarn Pa&8ey AIMS A¢¢ounts#ts for Bu8lDess 9 ch Street Langhwn Rutland LE15 7JE Page I
The Ark Associatiol) Trustees, Report The ¢$. who 8r¢ dire¢tor8 for thc purposes of company low, pr¢sent the annual rert together with th¢ fiwrKial stst¢rnts of the charitable cowaY for th¢ year ended 3 1 March 2025. TThe5 C M(Grory M Foort L Tr¢vor (resi8ned 15 April 2024) L Sr&¢y S J D&vi$ ch,5 Obbe¢tlves Ind Alms Oble¢tlv¢s: As set out iJ the Articl¢s of Association the chaLIty's objectives IObj¢¢ts) are specifically 1&8tricted to the following.. Toadvat)ce education. in particular. th¢ edu¢4ti(pn of ¢hildren below COryJu]sory school age and to proVe faci]itie8 fordll.ldll of s¢hi>ol age during out of s¢hool hour5 and sGhool holidays itt¢ludinti (but not lirnited tol.. - Prowidin8 safe and satisfying grnup playy in which partnts have th¢ righ¢ to ¢ontribute - En(ourabring oth¢r clwit8ble activiÈies through whi¢b pAr¢nts may belp the ckildren and organisation - Futhring the of the Pre-school tean)ing Alliance (or any succ¢550r organi5atiortl A fiwth¢r PriTnary ob)'¢ctiY¢ of the charity is kn provide affoidable ebildcare for all. The Ark As$ttiation recogllssc5 Ib worksng in partttership with parents is of major vdlue and in4JOrtsC¢. enabliJJ8 it provide & happy, caring and st3bl¢ environment for childrell and their paret)ts. The Ark aims to fornl good relats'ottslLiPS with p4r¢nts $0 ll)f0MtiOll regarding tb¢LT thilth¢n (b¢ it developm¢ntal, social or h¢alth ?#1} ¢ank ¢x¢hanged easily alld comfortably by both parents and staff. Pagc 2
The Ark Association Trnstee5' Report The aiD]s of the At in¢lude the followiThg.' - To offer bigh stattdards of &lU¢ati0 Stirnutation ad fim withill A relaxed but structhred ¢nviTonm¢llt tn partn¢T5hip with parents. - To provide all chl'ldren with a brogd and balanced l¢aming etsvironment that is conmjttted to the integration of hildren with speLial needs. The philosuphy 15 that all clu'ldren'with orwithout sp¢¢ial Deed5' $ILould have the opponunity to devclop to their full poitnlial alongside other children in an educatiojjal ellvintuDertL - To work within guidelin¢s for S¢14] UCatiOnal nee(L8 set out in the 2(101 Code of Pr&eticc insofar as th¢y to stlate to pre-school s¢ttings. The curric]u is based on sevell area8 ofkwwiedge a]Ml enquiry Ihat form thc basis of education at every 51ag¢. The Foulhlation Stage IE&rly tt4ming Goal8) lisi these as.. -p¢rsonaJ and 50cia] and eniotional developtsl - nuthena¢S - physical developJJwit - ¢xpr¢s$iYe arts and de51gn - conllllucalion and languag¢ development - literacy - widwststtding the WOTld Although th¢se play all inwrtant part iry pl8nni th¢y aze notpre5Cllted to the ¢bx'ldr¢n dis¢r¢t¢ nur5¢ry subjects. Teaching at th¢ Ark Association does not tske the fonn of instru¢iion. Rather the chil¢JreD are preseni¢d wilh A rangc of ¢tivities from wthich they can m8k¢ their OMI choices alld learn througb pl8yifj8 ¢xploring the many r&%ouTce8 w¢ provtd The Ark Association will always put the needs of the ¢hildT¢n fvsL strikiDg a balallce beThve¢n car4 play and learnill8. Our ad00t policy and joint c0rnputeris asse&smenis w¢lcotnc paTents' involvement 8ive4x their p¢xsottal knowledge of their child. The Bothl of DirectorSnnteW, tjwnagers and staff are committed lo providing th¢ bc5t rric¢ they can to the hi8h¢$t standar¢ with th¢ safety and welfar¢ of ow Children being parallUnt The djarr'ty operates from ttwo sitcs in OakhaL One 511¢ own¢d by the clmrity (Ark il whirh L5 locat¢d on Prince5S Av¢nu¢ attd on¢ r¢ntyJ from Oakham C of E sehwl on a short-t¢m rentsl a8reement (Ark 2) being l(atd at Burley Road. Eadi of th¢ nurstties aLd out ofschool Clubs are the sam¢, howEvrf, each provssion its own ique qualiti¢5 and facilities. Strte8ie5 for 202S126 . ro Ien]ain as a chaTirable organisation with of *lditi'onal tswt¢¢$. . ro produee att official ts>p a]xd ¢[rgIng risk table kn nre easily ideotify risk And itE]pact. • To allocate reserves pots 8pccifLC to etjsuring the b¢5t coutinuity of the charitable organisatio * To enhwKe r¢ffiiitm¢nt Witb The Ark so th&t wc ¢an tske MlMuM number5 of children each wssion. Page 3
The Ark Association Trnstees, Report Pubk benetit Th¢trst5 confirm that have complicd with the rwuirct2)ents of se¢lion 4 of the Charities Act 2011 to bav¢ du¢]Bgard th¢ public benefit 8u]dancc publtsbed by the Chariry CoMEn]On for Ellg]aDd alld Wales. A¢bkvem¢nts and perfoTrnanet over 2024125 Burley Road had their Ofited iusp¢dion in Jonuary 2025, maintaining 'good' it) 4U aw$ (Quality of educatioD, behviow and attitud¢$, persottal development aDd l¢adtT5hip and management). This follows on the trf>5itive a¢hiEv¢ments from Princ Avenue's a150'good' grading It yeArand dem0Th8kntes a consistent goodperformanv. Ow knhg serving dedicated staff have continued to work Iwd and Jjjanagement hY4ve contiThued to work tirele$$ly in ¢wwing w¢ have n)aximised incornings and ¢valuat¢d all 0goIng8. M8Ng¢ment w¢re succe&sfully able to apply for two lts. one through Pav¢t5 to eTthwJce P¢iatt5$ Avenue's outdoor area with a new wood¢n playhouse and a second. which was a govenlln¢rtl gratjt, io expand WTaparound chikkare for Bwley Roadl Oakham C of E Primary. Fwvhising efforts were increased this year with 2 suc¢cssful filIserS in the forni of a craft aThl coffcc TfKsrning at PDncess avenue and a cakethakr Yale with tombola for Burley Road. This is $1)mething we will &]80 look to futhr enhaDCC over the n¢xt y¢or. We cCeSsfullY navi8ated a rent increase for Burley Road. liasing with Rutland L¢aming Trns¢ to ¢nsw¢ we were abic to do thi5 as a staged approaclL meaning that we were able to bAlatt¢e fin8n¢¢s easier. Poge 4
The Ark A0ClIon Truste, Report rth4tt¢i4l revieY4 The charity reports a total surplus for lh¢ year of £32.275. This is a in¢rease on the sUlUS of £8,749 re[rted lftst yfy2r. Th¢ Ark hav¢ worked hard to maximisc in¢4xv as d¢TrrKi ha5 been high. Total income has increased by 13Yo to £494.191. The Ark 15 Still sllw]mg with staffiTrg i5su¢s, which restricts its ability to fvrth¢r iDGT¢a5c <pancy. Whilc it h&8 beeTh op¢rdting at 1] capacily, at)rtual raie bikty. h¥v¢ b¢¢n JIecess to offset n8D)g ¢osts. Costs overall, have increased yw on yw by around 8°h ot £32,915. Staff costs make up over s0 of the ov¢rall Costs of the Clwrity atNI 'gher n)inimum wages. htgher ocGuwcy levels arKi the importanGe of retsiDing good staff have m¢ani that sratY¢ogts have increased year on year by £38,138 or by I IY.. The Trusteeg recognise ¢hai there is a fin¢ balattce lo tread in tern of wage costs. They need to be manag1 and staff used efficicmly but there is a Iollg t¢mi cost to th¢ rkwity of losing good staff. This ycaT th¢ ¢haTity has treated stsff to o small a( Cb[l55. Due to higher occuparKy levels and ]ll"8h¢r fo1 ¢ost4 tbe c05t of nursery D•ls has IreaSed year on year by £1,557 to £10,091. Offset aKdinst these iTrn5es are some redu¢tions in ¢08ts, the largest of wbich is in r¢lation io prof10Th#1 fees which has reduced frotx £3,941 to NIL. This 15 bause business suppon setvi¢¢s are no longerbein8 paid for, with th¢ charity confid¢nt that they bave the pr¢S$eY Èn pl4¢¢ now to th> this house a[ in the pViOuS yw thc ¢hatity was requir ¢0 spend MOLW on lewdl fees in nMkiii8 chonges tts thc articles and this ¢xpenditure is )t required on an on80itig basis. Ill addiiioD to a r¢du¢tion in profrssional fee5 the charity has al$0 $Wh less ftll¢Y in th¢ current year OJ r¢pairs and r¢n¢wals JtKi to a caIn exlent this will not r¢tJJain static year year. The Ark h&$ alsts sp¢nt less ttH>ney during the 24125 aOAtIng period on the purcba5e of new toys attd ¢quÈpment with a £2,419 reduction h¢r¢. (knralL the Tnree$ are happy to report this surplu8. The ¢lwity n¢¢ds some reserve$ to eDabl¢ it io d¢al with larger repr4irs or investsnents such as th¢ minibus which is kcy to Botne of the s¢tvi¢es provid Duting the y¢ar th¢ ¢haTity a150 received £1 1.715 as a from Rud#TyJ Coutlty Council to support with the ¢Apar10Th of the A,8 wraparound ¢4Te. The tnajority of thi5 grdnt has oot b¢¢n spent #t the 315t Match and in lin¢ with the accotillg policie5. this graal b&s b¢¢n def¢rrtyJ to the balance sheet and will b¢ rel¢ws¢d as th¢ lly)ney is The charity now holds frE¢ r¢scrves of £94,824 at the balaL¢e sh¢d dat¢. This would more than cov¢r a month. wages and overheads sityations ¢#n Change very quickly so id¢ally th¢ charity would like to hold around £I(M),000 wbich would Cover around 3 months w28¢$ alld ov¢rheads or coyer othu Signifallt C08t8 arisillg. mgent contsJue to review the finaDcia15 mottthty aDd report toTrnst¢e$ tTrrte tiin¢s a ycar. BO0kkeept8 1$ t>ow w¢ll ¢4bli5h¢d in Quickbooks and the TnL8t¢¢s ar¢ looking for ways to make the fiww'al reporting ev Page 5
The Ark Asso¢i8tion Trnstees, Report Pollty reserves TkfDJ5tecs have collsid¢r the level of rese¢5 held bythe cl]arity. T1 tes¢rve8 policy of the charity 15 to ?taIn llOttStrcted funds, which ar¢ the fr¢e teserves of the charity. at a suffici¢Di l¢Y¢l whirh enables th¢ charity to be able to OP¢Tate in the short terni. Tk aim is to bvild up the level of fr¥ TBservex such that it represents fithdittg $uffi¢i¢nt to cover at least three month's wag¢s It hav¢ sllffi¢ient es to fimd any sigrtificg]Jt ¢ftpktyl works aris1] Thetytal reserves at the Year-¢[ date v¥¢r¢ £270,19212024- £237.921) of which an smo1 of £432 (2024- £507) was tId iti r¢stri¢ted fitllds. £174,941 {2024- £178,991) vms r¢pres¢nied by unrestrictrd fired &w¢ts. leavittg free reste8 of £94.824 (2024- £58,422}. Tkn's kv¢l of re4¢tv¢$ is now suffieient to run th¢ ¢harity for 8Th)und 2.5 mottths so the TrL55toes are happy this is in]pmving Imrt WOLdd like to hav¢ 3 months covered if possible. The trusltrs will corttinue to monito¥ thi5 and review th¢pDiicy on a plOdI( basi$. Pl for futsre period5 (AitD$ Oblt¢dv¢sl Tbc Ark Associatiort's k¢y obj¢ctives and al for the in¢lud¢ being aware of the changg market. W¢ will re]n vigilant to th¢ ¢hang¢s in th¢ local area Ancluding many n¢w housing developments being builL new famili¢s movillg to the area albl expanding infrasttuctwe. We will use "$ Cotitinuing market re8earch to ossess what The Ark Association is providing and eTLsure that it COTl¢itsu¢s to meet current demand5. There will tteed to be careful rnODitorinR of how the roll out of additional gov¢ffoneni fidIng will atYe¢t us both in t¢mJs of nutheis of children andkn in t¢YnL8 of th¢ fitsgncial impact this is likely to bave. W¢ will we re-8ddT¢&8 our cU¢llt r¢¢N1c diffi¢ulti¢s by inueasing our recruithkllt drive and advliS]S nore widely. Thi8 will ¢nsur¢ that we are able to meet the d¢mands tn¢t by ULtsre fattiilies moving to our The Ark Association MaUage¢ ieam will be [erviting ol business plan ensure that it is in keeping witb chws withiTE Th¢ Ark Associatio includillg staff cbang¢s and sucttssion pl8nnin8. Alowide this. we will continue to gss¢ss our existing contracts so thai w¢ ¢an be sute we are gettitig the bcsi for whai w¢ need. We will reviewing fall¢¢5 to s¢c wherc we cart ti8htcn up OT wh¢r¢ w¢ need to iuve5t rnDre attd will continue to inv¢5t into ow strffj b¢ing awar¢ of the f]nancial lu11¢10lls, $0 we ¢8n retain our long serving Aga]ll, we hop¢ to Cotttine to raise nre fund5 through govermwt to eDSUTe we can rq)la¢e vital Nour¢¢s widvn thc 8¢ttin8 and keep our environment fvlly suited to the 8rowing needs of early years ch1"1dre This will inelLQ¢ gf8nts or funding to be abk ty retsin ol replace our miTribus whicb adds to ow uoiqu¢ sellin8 point, offeriDg swin8 and ovtdotsi forest sessitijjs. We will be callY we5sitt8 the viabilityl usc of Thc Ark minibus going fonwds as this is being ued less but Still temaitis a finau¢i81 out8OiDg. G•1¥ concern TheTntee5 Consider the Ark A89)¢iion to be a going concerJL and the ¢¢Xu1 have b¢enprepared on thatbasis. Pag¢ 6
The Ark Association Trustees, Report governance and management N#tstre of gwern54g do¢um¢Dt The cljarity is controlled by its governing docunml, a de¢d of trus( aj constibjles a limited company. limited by guarantee. as deflld by the Companitt Act 2006. Re¢rui¢meTrt and appolDtment of irnstees The dir¢rtOT5 of the compally are a]so charity trustees for the purpose of ¢harity law. Th¢ tnte¢S are electwj at the Annual Getteral Meeting for a duration of two years. R¢tirin8 mistees are eligible forTlectiO The AGM for 2024 took place on 25 November 2024. The mininllmi number of dirxtors under the Article5 of A5sociatiott is 3 and th¢re are WTrently 5. Imdu¢tion 4d training of ¢rustees kny oew trustee5 and convnittee Tnetnbers are given an overview of th¢ Ark Asso¢TatiOn including detsils of the history and background ot th¢ eharity togeth¢r with the iofonDation of the financial positiotL In addition, new trusttcs 4rc provided Mryth copies of the Ch8rity Commi$3ion guidaTtt booklet The Es%ntial Trustet.. AD Intyodu¢tion' and The Elltial Tte¢.. What you nced to kDOW. org4111(lj struetsre During 2024125, th¢ directorsltrLkStee5 h1 board Tr£etings at le&st once a terni. Major rlsks attd tnttig¢m¢nt of th05¢ risks The Tru5tee5 tLav¢ a duty to identify aDd rtview the risks io whiL'h the clwity 1$ ¢xptssed atMI to ¢Tkwr¢ appropriate controls art in ploce ty provid¢ msollthblc 8$SUTaC against fraud and error. The Ark is making Steps to ensure risk factors are reguloyly revi¢wed. Th¢ ¢urr¢nt irnTtL¢dia¢¢ risk faGtor5 consi(kred include recruitment and r¢t¢ntion of staff as well as govenkment atMI local authority fundiDg rdte$ which hav¢ a s]lfi¢llnt impart on th¢ settintys fiDancial smtss. Fwther ¢nh8ncement to Top & Emergjng Ri&ks are beftng d¢Velop in 2024125. Th¢ atlT¢ual r¢pon WJS 8pprovedby th¢ trustees of the charity OD IONovetDber 2025 and signed on its behalf by: M Foort Tnts*e Page 7
The Ark Associatlon Ststement of Trustees, Responsibilitles Thet[Slees (who are also the directors of The Ark A550¢iation foT the puw0$ of ¢ompatxy lawl arerespojjsible for preparing th¢ trustees, report atKi th£ finatscial 5txtements in accordance with the Unitcd Kingdom Accounting Stsrthtrds (United Kingdom Gen¢rally A¢¢epted Accounting Practice) and applicable law and regulatLODS. Cowy law requires the te¢S to prepare fuJanci815tstetncnts for ra¢b fjnalltial year. Utder company law the trustccs 0¢ approve the financial s¢aterry¢J)ts uttlegs they are satisfied that they yve a trne and fair view of the stste of affoirs of th¢ ¢haritable ¢omp8ny And of its incomillg resources and applicalson of resouTC¢& including its inco¢ and expeDditure. for thai pcriod. In pr¢pariDS th¢s¢ financial 51atements, the tthjstees aTe required Èo.. srled suitable airounling pulA¢ies and apply th¢m coosistently. (the¢ the m¢thods athd princLple$ the Ch8rities SORP. JudBem¢Dts atmj esÈirn&t¢5 that are r¢astsDable attd prudent" dte Trthther applicable UK A¢couDtiTJg Standards have b¢¢n follow¢d, subject to any t)Jat¢rial d¢paEbJres ¢Istlos¢d aDd expl4iDcd in the ftstsncial ststcments" and rq>are the fla[ 5tateTrKnts on th¢ goitig ¢on¢ern basis unl$ li is iDappropria to presume thai the cbaritabl¢ will ¢ontiDU¢ in busiti¢ss. trustees are respoA8ible for keeping adequat¢ accounting re¢ord$ that are sufficient to thow and explain the clwtsble compan5 tr4TlSJ¢tii)ns and dis¢los¢ with re&sonable aecura¢y at any tirne thc financial p055tion of the ¢hankbl¢ Company ad enabl¢ th¢m to ensure that the financid statemeDts comply with the Companies Act 211)6. TIKY are also responsible for safeguarding th¢ ossets of th¢ clwitAble ¢otwisny athl hejjce for takin8 r¢&nable sttyslor the preveniion al d¢le¢tion of fravd and other irregularitie5. Appmved bythe trustees of the eharkty on 10 Novcrnber 2025 and signd on its b¢knlf by.. MF TnLe Page 8
The Ark Ay8ociation Independent ExAminer's Report to the trustees of The Ark A$80¢ition I report on the a¢COLt8 of the charity for tbe y¢gr ended 31 March 2025 which or¢ s¢t out on pages I I to 22 . Respectlve responsibilities of trustees The tw81¢¢$ Iwho are Y¢Lw the directors of the comp8ny for the pu05e8 of eompatty law) are responsible for the preptatiOn of th¢ accounts. The trustees cotssthi that an audit iB not requited for this year under section 144121 of the Charities Act 20111th¢ 2011 Act) and that att independent ¢xamination is needed. The Gharity's gross iDcome exceeded £250,1)00 and J am qualifi to undertakc the examination by bcing a qualified nwber tsf Ch•rteTcd Institute of MaAag¢rn¢nt Accountsnts. Having satisfLed myself thai the ¢harity is not subject to audit utthr company law and is eligible for indepeodent examinatio it 15 My responsibility to.. cxaminc th¢ ¥rounts und¢r.section 145 tsf th¢ 2011 Acl to follow the procedllres laid down thc g¢Deral Directions givell by the Charity Cornmissioo uttd¢r s¢rtion 145(51(b} of the 2011 Act- and to stst¢ wh¢th¢r particular Tnatters have come to Jny attention. BAsAs of Independent ¢xarnther'5 report My ¢xatnination was carried out in ac¢ordaThtt with the general Dir¢¢tsons given by the Charity Commission. An examination includ¢$ a r¢vi¢w of the accounting records k¢pi by th¢ charity atKi a comparisott of the accounts preseDtrd tbose records. It also includes ¢on5i&ration of any Unusu items OT di8closur¢s in tk accouttts, and se¢king explanations from you as trustees con¢¢rnitig any such matters. The pri*e(hw¢s UTLdertaken do not provid¢ all thc evidencc that would be required irl an audit aDd consequethtiy op1 is given as to whether the xwounts PT¢8¢nt & 'ttue and fau view, and therepon is limited to those matters set out it) the 8tAt¢Tncnt below. Indqbtndent tX8mineT'J itatement In c¢)ttn¢¢tioTr with my examination, no matter has CO] to njy attention.. 11) which 8iV¢5 me reJ50nable cause lo believe thar in any mateTial respect the r¢quirem¢nts'. to keep ac¢ounting records in accordance with section 386 of the CoTry>anies Act 2(XTr6" atml . io pr¢pare account8 which ac¢ord with the acrouDlin8 record4 cotJJply with th¢ accounting I4uire of seciion 396 ()f th¢ CoTnpanies Acl 2006 attd wtth th¢ tnethods aDd principle$ of the Statcment of ReeODMdtd Pra¢ti¢e.' A¢¢ouniing )d ReportitL8 by Chan"ties hav¢ notbeen Dt. or (2) to wht¢h, trt my OPiniOT4 attention should be rfr2vm in order to enable a proper utthrststtdittg of the acclts to be reached. Page 9
The Ark Asso¢i4tion Independent Examiner's Report to the tru$te¢s of The Ark Associatio Atms Accountants for Business Ch8rtered Insiimie of Management Accountants 9 Str¢d Rud8lld LE157JE IONoveDknu 2025 Pag¢ 10
The Ark AssoclatRon StAternent of Financial Activities for the Year Ended 31 March 2025 Unduding Income and Expendffiture Aeeount Ststement of Total Reeognlsed GAlns and L05se$} Uur¢trl¢ttd funds Restricted Total 2025 Totsl 2024 Note Income and Endowments from: Donatl0115 and legacies Clmritsble activities Other trading activities tnvesttnent iwom¢ Other income I,10 490,745 1.072 1,042 332 1.332 490,745 1.072 1,042 436,887 230 613 21 Total In¢ome 493,859 332 494.191 437,751 ExPeDdÈre DJE: chitable activities 461.508 408 461.916 429,1 Total Expenditlwe 461,508 408 401,916 429,001 Net in¢omel{exw¥Jitur¢) 32,351 76 32,275 8,750 Nel movement ID fi8 32J51 (761 32.275 8,750 Reeon¢ilitioM of fuDd5 Totsl ftjnds brought forv8Td 237.414 508 237,922 229,J71 Total fLttkis CArr&¢d fonvwd 17 269.765 432 270,197 237,921 All of the ¢lwity's activiti¢5 derive from contit)uin8 operations during thc obove two period5. The fimds breakdown for 2024 is shoThm in note 17. Pagell
The Ark Assoelatlon (Registration number: 07564773) Balance Sheet as at 31 Marcb 2025 2025 21124 Note Fiiedssets Tawbl¢ ass¢ts 13 175,374 179,499 Current ass¢ts 14 4,103 125388 3,710 76,775 Cashatbank and inband 129,491 80.485 Credkon: dye one ye 15 {34,668 22.0631 N¢tWr•t A5s¢ts 94,823 58,422 NeIlts 270.197 237,921 Fu of the eharlty". R¢strl¢t¢d 432 507 Umrestrlctsd kn¢ome funds UJJretricted fulld8 269.765 237.414 TotHifunds 17 270.197 237,921 Forthe financial year ending 31 MaT¢h 2025 th¢ ¢harity was entstled to exemption from ¥4udit utyjer se¢lion 477 i>f th¢ CortWWki¢S Att 2006 lating to sm&ll cotw?8nies. Dirth)rs' YwibslitieB: Tho members h2ve not required the charity to obtain an audit of its a¢wJnts for th¢ year in question i a¢cordance with section 476,. aT¥J Tk diTlOr$ acknowledg¢ their rwjwibilities for cowl)ryng with the reqUIn*ts o(the A¢t with respect to accouw records and the preparation of #rwwits. The% accounts have been prwred in accordattc¢ wxth the provisioDS applicable to cotDPallieS subject to the small ¢oJryMnies The fjttatjcial 8tatement8 on pages i i to 22 were approved by the truste¢& authorised for issue on 10 NoveDkner 2025and signed on thcit behalf by.. M Ffy)rt P8ge 12
The Ark Associailon Notes to the Financial Ststements for the Year End¢d 31 March 2025 I Charlty $tatllS 71ae charity is fd chan.ty Itmited by 8iiaratffte and collse4vently doc5 lJOt have shaTe eapital. Ea¢b of the trust¢¢$ is liable to ¢ontribut gn mxmt eXec1ng £Nil towards the assd8 of th¢ ¢hariry in the eyent of liquidation. Summary of 8Agnffifk8ll¢ ¢countirtg poli¢ir5 •Dd key acllting estlmatts The Pri¢1PaI ac¢owiting poli¢ies appli¢d in the preparation of these financial statemellts ar¢ %t out bclow. These po]icies have be¢rL COWiW¢lltly apptsed to 811 th¢ y¢ar8 pr¢s¢ntrd, tsDiess othenwise stale StJ¢en*nt of eothpllance Tk finatKi31 statelljents have been prepar in aceordall¢e with Ac¢oun¢ing and Reporting by tharities.. Ststemeiit of Remmettded Pr¢]¢¢ ¥pplic4bl¢ to chan'ti¢s prwing their accouttts irt 4¢¢ordan¢¢ with the Financial lifportmg Standard applicable in thc UK Republi¢ of Ireland IFRS 102) (effective l January 20151- ICiwiti¢s soItP (FRS 102)). the Financial RwrtiDg Standard applicabl¢ ITh th¢ UK and Republic of IrelaNI (FRS 102) and the Compani¢5 Act 2006. Ba51$ of preparatlon The Ark Association meets th¢ defmitiott of a publi¢ bell¢fil rntity under FRS 102. A$3¢ts 2nd lith'liti¢s initially reujgnised at historic cost ortran5action value wile&8 otherwise ststed in the ielrvant accounting policy notes. GolDg concern The tswtees cot)sider that there are material unc¢rtainti¢s about th¢ ¢hariry'$ ability io ¢OntIt as a 80ins ¢Qll¢¢rn nor 5igDificaDt arw of UDcerW that afffft th¢ Carrying value of held by th¢ charity. Exewtlom fr(tym preparADg a th fiow stAtement TIK charity opt¢d to edrly adopt Bulkiitt I plISh¢d on 2 F¢bruary 2016 j have ther¢fO not included a ¢88h llow $tst¢mettt En th¢5e fiJ)ancial statements. Expelldlture All expendibJre is ffcOlsed once th¢r¢ is a l¢ga] or con51rnctivc obli8atiott to that exp¢nditur¢, it is probabl¢ g¢ttl¢m¢ni is reqU¢d and the amount catl be mea%red reliably. Tb¢ ¢harity has takeD advantage of the exemptio available to 8mall¢r ¢lwili¢s to report all expej11Ure Ler total ext¢nditure and thAs As bmken down fiher in the Doles. Government grnDts GoVernnt grattts ar¢ re¢oettis¢d based ott tb¢ A¢¢nwl model and ar¢ rneasuT&I St the fair va]u¢ of th¢ asset re¢¢ived or t¢reivable. GTwJts are classified a8 relatin8 either to revenu¢ or to assets. Grauts relating to revenue are recolS¢d in income over th¢ penod it) the relotsd costs arc recol8ed. Grants r¢laun8 to assets 8re ¢¢ogtiis¢d tsver th¢ expccted usefvl lif¢ of the asset. Where part of a W r¢laltng to an asset is deferred, it LS recols¢d &8 deferr¢d in¢ome. Page 13
The Ark Assoclation Notes to Ihe Fin8n¢ial Statements for the Year Ended 31 March 2025 Th¢¢harity is considered pass the tests s¢t ollt itt Paragraph I Schedule 6 of the Fingnce Act 2010 and thercfore it rnts tht definiiton of a charrtsble company for UK colporation tax pwpo8¢s. A¢cordin8ly, the ¢harity 1$ poteDtially ¢X¢DVi from taxation in respe¢1 of in¢ome or ¢8Pital 8Ains received withiD categories covered by Chapter 3 Part I I of tk CO)atiOn A¢t 2010 or Section 256 ot the Taxation of Chargeable Gaill5 Act 1991 to th¢ fKt¢nt that 5uckllJcom¢ or gaitts are applied ¢xclu5iv¢ly to chaTitabl¢ pwpDses. T¥Diible fixed as5¢ts llldiiidu81 fixed assets are initially record at cosL less any subsequent accuttLul#ted depreciation and $ubsequ¢nt aC¢uulated in4)airnient losses. DeprteAAtlon and AmortisAtIo DepJe¢J"ation is provided on tangible fixed assets so as to writ¢ off th¢ ¢o$t or valuion, l¢ss any estimated residual value, over their expected us¢fid econoJDi¢ lif¢. The property is bein8 depreciatd over the rett1]ng terni of th¢ longl¢8se whi¢h is beld on the land. The property is Classifi a5 I0]d OD th¢ b&siy that th¢ land 1$ held le85eAll dweciation rntes a]E show Is follows.. A55tlcl818 D¢prech&D method rAte Depreciated straight linc over 64 y¢a froTn 2018 D¢pre¢iat¢d straigbi IAD¢ over 64 ye&rs from2018 150/0 baSan¢e r¢du¢ing 15•A balance reducillg 25Yo balon¢¢ reducing Leathld pro Itnpwv¢rn¢ttts to prop¢ty Talld equipment Offitr equipment Motorvehicle5 TrAd¢ deb¢0 T]¥th debtors are amounts du¢ fyom Customers for Services perfonned in thtr 0rdiu course of bus?ness. Tth d¢btot5 ar¢ re¢ogttised initially 8t the trarL8action price. A provision for the illwaimJctLt of trade debiors is e8iabli8hed when Ibere is objeetive evidencc that th¢ ¢lwity will not b¢ oble to ¢ollect 411 due 8ccordillB to the lgiDl teIll of the re¢eivabl¢s. C¥h ¢•sh eqwiv¢tsts C&kand ¢ash ¢qwleftts cojnprise casb on hand and call deposits, and Oth 51y)rt-t¢Trn highly liquid inv¢5tttxents that r¢ readily convtrtiblc to a knowj amouDt of c and are subiect to an instgnificant iisk of ¢bAnge in valu¢. TTadt creditts Tra& creditors are obligations to Y for goods or servi¢¢$ that h8v¢ beet) a¢quir¢d IJJ th¢ ordinary cour8e of bwill¢ss from ryplieTS. A¢¢outtts paymble are e18ssifi&J as current liabilities if the charity do¢s Dot hav¢ An UltIOnal right, at tbe end of the T¢rtIng riod, to def¢t $ettl¢m¢nt of the creditor foi at least hvefve tTh)nths aftcr the reporting date. If th¢T¢ is an un¢onditional right to d¢fer s¢ttletllth for at least twelve months aftcr the reportit)g da*. dwy presentedas non-curreni liabilities. Page 14
The Ark As$oci•tioD Notes to the Financial Sttements for the Year Ended 31 March 2025 $lructure Unr&strict¢d illcome fLmd5 srrjerdl furKJs that aT¢ available foru5e at the trte¢5'S di5crdion in furtherance of the objectives of the ¢iMrity. iiestriet¢d income fi]lld5 are those donated for wc in a particular area or for spxific purpose4 the e of wthich is restricted to that area or pu0$¢. 3 I•me from dotsatlOlJs #Thd kgati Restrlcted Total 2025 Tot8l 2024 Donatioll$ IEgacies" Dollations from individua]s Grants, Jncludir]g ¢apital grants. Gov¢nMn¢tLt allts i.o(x) 332 332 332 1,332 4 In¢ome from ¢bgrlt4ble ¢tlvltl¢y Unrestrl¢ted Tot•1 21124 General 2025 Fe¢s- Burl¢y Road Mi 488.899 1,846 488,899 1.846 434.595 2.292 45Yk.745 490,745 436,887 5 Illcome from other trndlng acthitir5 Unr¢strkted funds Tot•1 2025 Tot*1 21124 G¢n¢r81 Futhisitig events 1,072 1.072 230 230 Page 15
The Ark Association Notes to the FlnanelAI Ststements for the Yr Ended 31 March 2025 6 Iwestm¢llt Ivol Unrestrlcted Totsl 2025 Total 2024 General I¢s1 receivable on bank deposits 1,042 1,042 613 PA 16
The Ark Asso¢iatioD Notes to the Finr4ncial Statements for the Year Ended 31 March 2025 7 EendItUTe eh#rlt#blt *etlvllÉes Tot#1 2025 Tot•1 2024 A¢tswiti¢s to fiuther the ¢lMritys obj¢ctiv¢s Accountancy Legal and profrs5ithI fe¢s 460.156 1,7(( 425.523 1,758 1.721 461,916 429,002 £461,508 {2024- £428,912) of the abovc ¢x]KDdi¢ure attributsble to unrestricted funds and £408 (2024- £90) to restrie fvDd8. 8 f4et IncomingloulgoiAg Te5011re Net i018 resources for the year inclwle.. 2(125 2024 tkpr¢¢iation of fixed assets 6,198 6,354 Page 17
The Ark ASsl2tiOn Notes to the FRnD¢Tr¥I Slatements for the Year Ended 31 March 2025 9 Trus¢ee5 remunerntltstt lld expenses Duriig the year the clwity made the following transactions with tnjstees.. C MtGrory C M(Grory rc1Ved reT5)unerntion of £Nil {2024.. £2.220} during thE year. Tk ttlllunerdtiott paid to C McGrory is payttSeTLt forproviding fiiLan¢ial alld bu$i]h¢sg SUPPQrt. As ts majority of Tn¥t¢es e1Ved remutseration durin8 th¢ y¢ar authority was request¢d from the Cjjarity CoJ]llllissiorL and the charitys article5 of a&sociation have beeli updatcd and approved OTh 28 Septernber 2023. N Cowlin8 received remtratIOn of £22,786 (2024.. £21.I201 duTin8 the ycaT. Tk ttmuneratioll paid to N Cowlill8 is salary for her cnwloyment. Epy¢r pension contributions of £683.64 were a180 paid by the ¢hgrity on bcbajf ofN Cowling (2024- £633.59}. As the rnajority of Trustees received renwneration during the yw authority Vds wuested from the Charity Conyoission and the charitys articles of association have been updated and approved otl 28 September 2023. MFwrt M Foort received remuneration of £28,980 (2024: £26.475) during the year. Tkrernutterztioll paid to M Foort is salary fOrh employTrÈnt. £rnpk7yer pensioll contributions of £869.45 wete also paidby the ¢harity on behalf of M Foort12024- £794.27). As th majority of Trustec5 received rernuntration during t year authority was Tfquested from the Charity CoDJJission aTKi th¢ chaTitys athles of association hove bttD wtht¢d and approved 28 Sept¢tnbcT 2023. Page 18
The Ark Association Notes to the Financi S¢ateD)euts for the Year Ended 31 Mar¢h 2025 10 StAff Costs The aggregate payoll eosts were as follows.. 2025 2024 Stsff toits durlng lh¢ yr wtre: Wag¢s and salaries Social seLuriiy to$ts Petssion ¢ost5 Other stsff costs 361,320 17.404 8,5.16 3,294 328.277 13.018 7.826 1,561 390,554 350.682 The t]Kbnthly aver&ge number of persons {includLJI8 senior maTiagem¢nt t¢am) cmployed by the ¢Ity duriti8 the year wa5 as follows.. 2025 2024 Nursery stsff 24 24 No employee receivedemolwnents of more thAn £60,0 during the year. 11 IDdependent exawJDtr's rtmuneratioA 2025 2024 Other leu to eAamiDtTS Exan]inatioTrreled 8VIanCe seryi¢¢s ,760 1,758 Page 19
The Ark Assoclatlon Notes to the Finaneial Statements for the Year Ended 31 Mareh 2025 12 T•i4¢loll Thecharity is a restered charity and is therefore exempt from tsxation. 13 nxed assets L•nd *nd bulldlngs Fnrnknre and equlpment Motor Yehlcles Toyg & Eq1Pment Total At l April 2024 AddillorL8 182.914 31,418 1,477 11.994 28.067 597 254,393 2.074 At 31 March 2025 182,914 32,895 11,994 28,664 256,467 Depndatlo Ai l April 2024 Chuy for th¢ year At31 MCh 225 19,994 2.858 23,896 1,842 11.488 127 19.516 1,372 74,894 6,199 22.852 25,738 20,888 81,093 NetlKtyk value At31 March 2025 L60,062 7,157 379 7,776 175.374 Atjl fvlarch 2024 162,920 7,522 5(NS 8.551 179,4YJ InclDkd within the net bk valu¢ of lat and buildings alK>v¢ is £115,447 12024 £117,508) in r¢sped of lehId IAnd and buildings and £44,616 (2024- £45,412) in Yewi of inwov¢ments to prow. 14 Debtor8 2025 2024 Preplt5 4.103 3.710 Page 20
The Ark Associotion Notes to the Finantial StstemeDts for the Year Ended 31 March 2025 IS Credltgrs: gmoumts f•liing due wlthln olleytar 1025 2024 Other ¢rdttor8 Accats Ikferr ltt¢)me Dcferred ITKome 2.194 3591 17,500 11.383 1,868 2,695 17.500 34.668 22.063 16 PeththiD #nd other s¢hemes Defjned contrlbutloll penslon scheme Th¢ Gharity op¢rnt¢5 a ¢kfined contribution pension scheme. Th¢ pcnsion Cost dw8B for the ar rw¢KJ contributions pay8ble ty the charity to th¢ sch¢me 8nd amowited to £8,536 (2024- ll.8261 17 Funds Intoung resources Rt50urtes expended BthDte at31 M#r¢h 2025 Apri12024 ureSttted fvnd$ G¢n¢ral 237.414 493.859 (461,51)8) 408 269,765 432 Restrlcted 508 Total fund# £237,922 494,191 (461,916 270.197 Balance at I Aprll 2023 Incomlng rewur¢ei ResDureeB BalAiie¢ at 31 Mxreh 2024 UDrestrl¢t¢d General 228,574 437,751 (428,9111 237,414 Re&ttlcted fvTrds 597 507 Totsl funds 229,171 437.751 (429.0011 237,921 Page 21
The Ark Ags0¢iatioD Notes to the Flnanciil Statements for the Year Ended 31 March 2025 18 AlySIS of net ss¢ts between funds Unrestrlctsd rund5 Restricted fuhd$ G¢n¢rl Totsl flld$ TallbIe fixed assets Curjrnt assets Cunmt liabilitics 174.941 118.109 {23,285} 433 11,382 (11,3831 175.374 129,491 (34,668) Totdnet assets 269,765 432 270,197 19 Rtlated party trl£tiOnS Dunng the year the eharity made the following related party tratTr5actions: P A Palmer (Fatr*T of Mica Foort} £1,395 was ld w Mr Pilm¢r for f¢ncirtg repairs at Princess Avenue site durLD8 the year12024- £3,940) Mrs Foort abst8ned from this decision nmking Proce.. At the balance sheet date the du¢ tolfrom P A Plyer w)$ £NIl12024- £Nill. The pivvision for duubtfid debis from the related parti¢5 at the balance 8be¢t dat¢ was £Nil (2024 - £NIll. A0Ullts written off in the period in rcspect of amounts due to or from reled parties £Nil (2024 - £Nill. Pag¢ 22