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2024-08-31-accounts

Company registration number: 07419706 Charity registration number: 1142473

Ladybrook Enterprises Ltd

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 31 August 2024

Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Ladybrook Enterprises Ltd

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10 to 11
Balance Sheet 12
Notes to the Financial Statements 13 to 22

Ladybrook Enterprises Ltd

Reference and Administrative Details

Trustees Daniel Barsby Margaret Nuttall Chris Birks Samantha Gaunt Richard Cornelius Secretary Sharron Reynolds Senior Management Team Sharron Reynolds, Chief Executive Officer Charity Registration Number 1142473 Company Registration Number 07419706 Registered Office Ladybrook Community Centre, (William Kaye Hall) Ladybrook Lane Mansfield Nottinghamshire NG18 5JJ Independent Examiner John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Page 1

Ladybrook Enterprises Ltd

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2024.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Daniel Barsby Margaret Nuttall Terence Clay (resigned 12 July 2024) Gary Roughan-Cook (appointed 19 September 2023 and resigned 12 July 2024) Chris Birks (appointed 19 September 2023) Elizabeth Kelsall (resigned 8 January 2024) Karen Wright (resigned 13 February 2024) Stephanie Tsui (resigned 8 January 2024) Samantha Gaunt (appointed 2 July 2024) Richard Cornelius (appointed 4 February 2025) Secretary: Sharron Reynolds

Page 2

Ladybrook Enterprises Ltd

Trustees' Report

Structure, governance and management

Nature of governing document

The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 26/10/2010. It has no share capital and the liability of each member in the event of winding-up is limited to £1.

Recruitment and appointment of trustees

Trustees are recruited from a number of different avenues in order to ensure the board is made up of a good cross section of the people benefitting from our services and people with expert skills.

We regularly advertise that we are looking for new members to our committee using posters within our buildings as well as in our newsletter, via Reach Volunteering and on social media platforms. These adverts are targeted at those who wish to help us in our aim to improve lives but do not ask for specific skills or attributes. We also target people specifically that we know have an interest in our work or have expertise in an area in which we currently have gaps in knowledge. They are approached directly to see whether they are able to offer any support and advice.

Once it is identified that someone may be interested in finding out more they are provided with a Trustee induction pack that outlines what their responsibilities are as a Trustee and Director of the company this includes a link to the charities website and meet with our CEO to gain a broader understanding of our charities work and needs.

Once they are comfortable with the responsibilities they are then referred to members of the Trustee Board for an informal interview process to establish whether the skills, values and needs of the organisation and individual are compatible.

After appropriate due diligence checks are completed including DBS checks and reference a decision is then made whether to elect them onto the Board of Trustees at that time or the start of the next financial period.

Objectives and activities

Objects and aims

A) Further or benefit the inhabitants of Mansfield and District in Nottinghamshire “The area of benefit'', without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the quality of life for the inhabitants;

B) Develop the capacity and skills of the inhabitants of, and organisations operating in, the area of benefit in such a way that they are better able to identify and help meet their needs and to participate more fully in society; and

C) Establish or secure the establishment of community facilities and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such facilities in furtherance of the company objects.

Page 3

Ladybrook Enterprises Ltd

Trustees' Report

Objectives, strategies and activities

Our charity’s main objective is raising aspirations and promoting opportunities to improve people's lives within Mansfield and District. We do this by providing a range of activities and services in our 5 key areas of work detailed below:

~ Health & Wellbeing ~

We provide, alongside our partners, a number of services that improve the mental and physical health of participants including a cancer support group, physical exercise sessions, counselling sessions and a number of other services which directly impact the health and wellbeing of individuals. With funding in this period from The National Lottery and local project Oar Blimey we have also been able to increase our support of those living with Dementia within our cognitive stimulation therapy (COGS) session as well as our remembering to be kind to your mind and carers support sessions.

~ Education, Skills & Training ~

We provide a number of opportunities for members of the community to learn new skills in not only formal training sessions but also informal learning that really meets the needs of people. Our current offer, delivered in partnership with a number of local providers, includes craft sessions and general employment skills training delivered alongside our volunteering programmers. We also include informal and targeted training sessions within all group activities covering subjects such as dealing with grief, healthy relationships, disability awareness and more. We have been fortunate this year to receive funding from the Cadent Centres for Warmth project which has enabled us to provide education around energy efficiency, carbon monoxide and priority services registration, not only to users of the community centre and our services but to 100s of people around Mansfield and district in community outreach sessions.

~ ~ Support & Empowerment

Within our safe, non-judgmental and people focused services we specialise in working using an empowerment model of developing the confidence, understanding and skills of our community so that they are able to make informed decisions and take action for themselves. This part of our work is what makes a difference to people’s self-belief and self-esteem and allows them to begin to trust their own judgement and create their own healthy boundaries and goals going forward. Many people within Mansfield & District have been disempowered by life experiences and circumstances but when people believe in them and encourage them to believe in themselves they can do great things.

~ Social & Community Connections ~

We offer a number of opportunities for people to come together in a social setting to make connections with their community and other people within it. We currently hold weekly coffee and chat sessions as well as weekly social craft groups - both with the aim of reducing isolation and making people feel like they belong to part of a bigger community. We put on community events throughout the year to encourage wider participation and to give opportunities for coming together to members of the Mansfield and District community. We consider our biggest successes not to be the number of people coming into our own services but those that have taken their first steps here at the centre and then been supported and empowered to go on to do other things outside of the centre that they would never have had the confidence to do before.

~ Influencing & Shaping Services ~

As a former Neighbourhood Management Team, and from our wealth of experience in the voluntary sector (with specialisms in education & childcare, health and empowerment and community development) we understand the importance of influencing and shaping change within communities and the structures set up within them. Although we are excellent at being reactive to the hardships and problems faced by our community and providing opportunities to improve the lives of those facing them, we strive wherever possible to influence greater social change within our areas to prevent these hardships. We sit on a number of strategic boards in the area and have developed a number of stakeholder meetings of our own to try and change the way public sector departments, as well as other charities and communities themselves operate to give people the best chance possible of improving their lives.

Page 4

Ladybrook Enterprises Ltd

Trustees' Report

Public benefit

By empowering people to improve their lives we help to encourage them to feel more active and involved in their local and wider communities. The mental and physical health of individuals and communities is greatly improved and people develop the skills, knowledge, self-belief and confidence they need to live more enriched, fulfilled lives. Alongside this, our work in partnership with other organisations locally to make meaningful and lasting changes to services in the area, has wide reaching benefits. Working with, and influencing decisions made by, our public, private and voluntary sector colleagues allows us to support meaningful changes and the development of a range of opportunities for Mansfield people that are fit for purpose and meet their needs.

The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

We are pleased to be ending the financial year in a really strong position with a surplus that we are able to carry forward and use to support our ongoing work and future development over the next period of time. Thanks to the determination of the trustees and staff team, and the support of a number of funders, we are going into the next year with a plan for remaining sustainable and financially stable. We will continue to work on securing funds to further build on our success this year.

Policy on reserves

Ladybrook Enterprises Ltd is in the process of developing a new reserves policy. With a three month general reserves policy to cover running costs and a restricted reserves allocated to cover unforeseen costs relating to premises and the building. We are currently working towards this. We aim to allocate money to reserves at the end of each financial year.

Principal risks and uncertainties

There have been substantial changes to the financial landscape that we are now operating in that may impact our income. As the increased cost of living and recession impacts our beneficiaries their financial positions have changed and numbers within our sessions have seen a reduction which we may see further decrease in future. We have been lucky enough to secure some large, ongoing room hire bookings with organisations that are currently commissioned to deliver services on behalf of the NHS. Whilst our relationship with these providers is excellent, they have to periodically re-tender for their contracts and we always face the risk that if they are not successful in this their room bookings, and attached income, will come to an end. We have had a great success rate over the past few years with our grant funding applications and this has really helped our charity to thrive. As with all grant funding this allows us financial stability in the short term but does not afford us long term sustainability and there is a financial risk should we not repeat this success in future years.

We continue to look at ways of diversifying our income and making best use of all resources available to us.

Page 5

Ladybrook Enterprises Ltd

Trustees' Report

Achievements and performance

The 2023-2024 financial year for our charity has been another one filled with not only great outcomes but many moments of joy shared with the people who use our charity’s services.

Although statistics and data help us to show the vast difference we make to people, it is often the voices and feelings of people that really remind us just how important our charity is. We would love to share some feedback with you from people that have taken the time to tell us about their experiences.

‘Ladybrook Enterprises means stability, love, laughter and support in many areas. I for one go to 5 meetings of one way or another. I have made many friends while I have attended the Centre and have been given the courage to try new things’

‘Since coming to the Centre, my self-confidence and self-belief has come back in leaps and bounds. All the staff have supported me greatly and been there for me when needed.’

‘Without the work of Ladybrook Enterprises and my time here I feel like I wouldn’t have accomplished all that I have and would not understand myself as a person in the way that I do now. On my first day I was too nervous to walk through the door on my own and to talk to people, thanks to my time here I am now standing in front of a room and telling my story.’

‘Over a period of 10 years or more I have attended the Centre and it has been a great asset to me. I’ve met lovely people, joined groups, when younger I learned to ballroom dance, craft mornings, learned to crochet, stayed for lunch, enjoyed many Christmas and Summer Fairs. I’ve had quality clothing at a cheap price and items from the food scheme when needed. I have had fun and many laughs, helped with stalls, done laughing yoga and Zumba, keep fit and joined the Free to Be group. It is a safe and friendly place to be with kind, hardworking staff where many people can seek help of all kinds if needed. It has helped me and I have felt happier having joined in. 80 years young!’

‘I started using the COGS group back in October 23 with my mum who has Alzheimer’s disease. I was unsure at first if it was the right thing for us and if mum would enjoy it. Well it is - it’s become part of our weekly routine and mum knows where we’re going each week now on a Thursday. She knows who she prefers to sit with and takes part is many discussions. Although she can’t always remember what we’ve done each week, I know she’s enjoying being there and is happy ‘in the moment’. Someone takes care of our loved ones whilst we’re in our carers sessions and there are weekly activities arranged for all the users. The support offered to myself has been amazing and the team’s advice has given me the confidence to try and deal with things better and has helped me make informed decisions about support for my mum. Also enabling me to understand the need for ‘self-care’ too. The friendship created at the group is priceless and we all try to support each other. I enjoy the whole group sessions with the other users and we often share lots of laughter together. Which is lovely. During the carers fortnightly sessions, we usually share our personal experiences of looking after a loved one with dementia and often have tears and laughter but we know we’re in a safe space to be able to do this and no one judges anyone. Without this group I wouldn’t have gained the friends I now have or the confidence to help me and my mum on our dementia journey. A huge thank you to all involved.’

Page 6

Ladybrook Enterprises Ltd

Trustees' Report

Alongside this wonderful feedback, we do of course collect data on the support that we have been able to offer in Mansfield and District, both at our Ladybrook Community Centre base and at outreach sessions throughout the district. We would like to share a small number of these with you as follows:

●Our community share scheme was visited 645 times with 3583 items of food, clothing, toiletries and other household items being taken by our customers on a pay what you can afford basis. Many of these items were saved from landfill and had been donated by local people and organisations to support our work.

●Thanks to our partnership with local fitness providers KM Fitness and Dance with Natalie people attended physical exercise sessions at the Centre 4500 times over the year, not only improving their physical and mental health but meeting new people and making connections with the community.

●The Help at Hand group sessions delivered directly by our team at the Centre were attended 2282 times. These sessions included craft sessions, coffee and chat groups, cancer support sessions, carers groups, dementia services and social eating sessions.

• Within group sessions we offered a range of advice and support including:

○helping 164 times with benefits, finance and money support

○holding 415 informal support sessions around food including food insecurity, diet and nutrition

○discussing physical health and what services are available to improve this 256 times

○supporting people to navigate NHS and medical services and systems including dentistry, right to choose and treatment pathways on 268 occasions

○talking to people about mental health and what support is available 224 times.

●Thanks to the support of the volunteer team at St Mary’s and St John’s Church the Free to Be over 50’s friendship group was used 914 times.

The Trustees would like to extend heartfelt thanks to the organisations and businesses who call Ladybrook Community Centre home. Their commitment in delivering essential services to our local community is integral to our wider success.

Our chief executive officer, Sharron Reynolds, remains an exemplary figure in the charity and voluntary sector across Nottinghamshire. Her unmatched knowledge and passion continue to drive positive change within Mansfield and district and are a huge asset to LEL in particular. Acknowledgements are also due to our services manager, Lian Nixon-Chater, whose stewardship of day-to-day operations has been instrumental in LEL's achievements over the past year. We commend them both for their ongoing professional development. The Trustees express sincere gratitude to our dedicated wider staff and volunteer team for their professionalism throughout the year. Without their commitment, LEL would not be able to deliver such transformative services.

Financially secure, LEL is poised to expand its services and reach in the coming year. This strategic growth aims to benefit more individuals across Mansfield and the district, further enhancing lives within our community and opening up opportunities to those who need them most.

Page 7

Ladybrook Enterprises Ltd

Trustees' Report

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Ladybrook Enterprises Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

23/04/2025 Approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Chris Birks Trustee

Page 8

Ladybrook Enterprises Ltd

Independent Examiner's Report to the trustees of Ladybrook Enterprises Ltd ('the Company')

Independent examiner’s report to the trustees of Ladybrook Enterprises Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 August 2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

......................................

John O'Brien MSc, FAIA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners

Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

23/04/2025 Date:.............................

Page 9

Ladybrook Enterprises Ltd

Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
13		 Unrestricted
funds
£
40,621
80,997
4,199
125,817
(120,096)
(120,096)
5,721
10,511
16,232
1,122,060
1,138,292		 Restricted
funds
£
-
50,307
-
50,307
(46,250)
(46,250)
4,057
(10,511)
(6,454)
98,931
92,477		 Total
2024
£
40,621
131,304
4,199
176,124
(166,346)
(166,346)
9,778
-
9,778
1,220,991
1,230,769		 Total
2023
£
16,402
193,802
-
210,204
(175,993)
(175,993)
34,211
-
34,211
1,186,780
1,220,991

The notes on pages 13 to 22 form an integral part of these financial statements. Page 10

Ladybrook Enterprises Ltd

Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
13		 Unrestricted
funds
£
16,402
71,099
87,501
(100,949)
(100,949)
(13,448)
(13,448)
1,135,508
1,122,060		 Restricted
funds
£
-
122,703
122,703
(75,044)
(75,044)
47,659
47,659
51,272
98,931		 Total
2023
£
16,402
193,802
210,204
(175,993)
(175,993)
34,211
34,211
1,186,780
1,220,991

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 13 to 22 form an integral part of these financial statements. Page 11

Ladybrook Enterprises Ltd

(Registration number: 07419706) Balance Sheet as at 31 August 2024

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: Amounts falling due within one year
11
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
13
Unrestricted income funds
Unrestricted funds
Total funds
13		 2024
£
1,095,685
3,602
133,724
137,326
(2,242)
135,084
1,230,769
92,477
1,138,292
1,230,769		 2023
£
1,095,685
206
125,350
125,556
(250)
125,306
1,220,991
98,931
1,122,060
1,220,991

For the financial year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 10 to 22 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by: 23/04/2025

......................................... Chris Birks Trustee

The notes on pages 13 to 22 form an integral part of these financial statements. Page 12

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Ladybrook Enterprises Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Exemption from preparing a cash flow statement

Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Page 13

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000.00 or more are initially recorded at cost. The land and buildings are recorded at the insurers value at the date of acquisition.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Equipment 25% on a straight line basis
Freehold Land and buildings 0%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 14

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year.

Page 15

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

2 Income from donations and legacies

Donations and legacies;
Donations from companies, trusts and similar
proceeds
Donations from individuals
Grants, including capital grants;
Government grants		 Unrestricted
funds
General
£
14,188
6,533
19,900
40,621		 Total
2024
£
14,188
6,533
19,900
40,621		 Total
2023
£
7,422
-
8,980
16,402

3 Income from charitable activities

Grants and donations
Fundraising
Room hire, sales & fees
Sundry income
4
Grants & donations		 Unrestricted
funds
General
£
-
16,023
63,161
1,813
80,997		 Restricted
funds
£
50,307
-
-
-
50,307		 Total
2024
£
50,307
16,023
63,161
1,813
131,304		 Total
2023
£
122,703
17,946
53,153
-
193,802
4
Grants & donations
National Lottery Community Fund
Severn Trent
UK Shared Prosperity
Nottinghamshire County Council
Co-Op Local Communiy Fund
Cadent Gas Ltd
Sundry Donations		 Unrestricted
funds
£
-
-
-
4,300
1,078
26,925
8,318
40,621		 Restricted
funds
£
20,000
15,307
15,000
-
-
-
-
50,307		 Total
£
20,000
15,307
15,000
4,300
1,078
26,925
8,318
90,928

Page 16

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

5 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits		 Unrestricted
funds
General
£
4,199		 Total
2024
£
4,199

6 Expenditure on charitable activities

Catering & hospitality
Materials & resources
Office costs
Insurance
Premises costs
Freelance staff
Professional fees
Travel expense
Rent & rates
Utilities
Sundry expenses
Furniture & equipment
Volunteer expenses
Salary costs
PR & Marketing
Training
Depreciation		 Unrestricted
funds
General
£
2,988
843
2,856
836
26,332
1,762
3,269
193
99
6,080
35
1,342
314
71,691
598
858
-
120,096		 Restricted
funds
£
-
271
867
2,392
1,465
288
765
7
-
11,654
-
-
88
28,453
-
-
-
46,250		 Total
2024
£
2,988
1,114
3,723
3,228
27,797
2,050
4,034
200
99
17,734
35
1,342
402
100,144
598
858
-
166,346		 Total
2023
£
3,213
1,230
3,588
2,999
12,907
2,894
2,229
-
72
16,740
55
3,601
469
123,648
572
785
991
175,993

7 Net incoming/outgoing resources

Net incoming resources for the year include:

Depreciation of fixed assets

2024 2023
£ £
- 921

Page 17

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

8 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
95,424
3,266
1,454
100,144		 2023
£
116,630
5,469
1,549
123,648

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

Average weekly number of employees during the year was 2024
No
6		 2023
No
7

3 (2023 - 3) of the above employees participated in the Defined Contribution Pension Schemes.

Contributions to the employee pension schemes for the year totalled £1,454 (2023 - £1,549).

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the charity were £39,841 (2023 - £37,327).

Page 18

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

9 Tangible fixed assets

Cost
At 1 September 2023
At 31 August 2024
Depreciation
At 1 September 2023
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023
10 Debtors
Trade debtors
11 Creditors: amounts falling due within one year
Other creditors		 Freehold Land
and buildings
£
1,095,685
1,095,685
-
-
1,095,685
1,095,685		 Freehold Land
and buildings
£
1,095,685
1,095,685
-
-
1,095,685
1,095,685		 Equipment
£
3,690		 Total
£
1,099,375
1,099,375
3,690
3,690
1,095,685
1,095,685
2023
£
206
1,095,685 3,690
- 3,690
- 3,690
1,095,685 -
1,095,685 -
2024
£
3,602
2024
£
2,242
2023
£
250

12 Charity status

The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

Page 19

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

13 Funds

Unrestricted funds
General
General Fund
Other
Revaluation reserve
Total unrestricted funds
Restricted funds
Building Renovations
National Lottery
Remembering me
Severn Trent
Shared Prosperity Fund
National Lottery Unblocking
Barriers
Total restricted funds
Total funds		 Balance at 1
September
2023
£
26,376
1,095,684
1,095,684
1,122,060
10,511
-
-
-
88,420
98,931
1,220,991		 Incoming
resources
£
125,817
-
-
125,817
-
20,000
15,307
15,000
-
50,307
176,124		 Resources
expended
£
(120,096)
-
-
(120,096)
-
(2,574)
(7,578)
(12,550)
(23,548)
(46,250)
(166,346)		 Transfers
£
10,511
-
-
10,511
(10,511)
-
-
-
-
(10,511)
-		 Balance at
31 August
2024
£
42,608
1,095,684
1,095,684
1,138,292
-
17,426
7,729
2,450
64,872
92,477
1,230,769

Page 20

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

Unrestricted funds
General
General Fund
Other
Revaluation reserve
Total unrestricted funds
Restricted
Awards for All
Building Renovations
Notts County Council Food
Funding
National Lottery Unblocking
Barriers
Total restricted funds
Total funds		 Balance at 1
September
2022
£
39,824
1,095,684
1,095,684
1,135,508
4,791
17,802
10,843
17,836
51,272
1,186,780		 Incoming
resources
£
87,501
-
-
87,501
-
-
-
122,703
122,703
210,204		 Resources
expended
£
(100,949)
-
-
(100,949)
(4,791)
(7,291)
(10,843)
(52,119)
(75,044)
(175,993)		 Balance at 31
August 2023
£
26,376
1,095,684
1,095,684
1,122,060
-
10,511
-
88,420
98,931
1,220,991

The specific purposes for which the funds are to be applied are as follows:

LIS funding from NCC was for renovation of the community centre including roofing National Lottery Remembering to be me is to support those living with dementia and their carers Severn Trent Funding covers the core costs of our charity to deliver it's services including supporting with utilities and insurance

The National Lottery Fund supports the unblocking barriers to participation within all activities and services and ensuring people can get the support they need

Shared Prosperity Funding to support people living in Mansfield and District with support and signposting

The transfer from the Building Renovations fund to the General fund is to correct for the expenditure incurred in the previous year but not allocated to the renovation fund.

Page 21

Ladybrook Enterprises Ltd

Notes to the Financial Statements for the Year Ended 31 August 2024

14 Analysis of net assets between funds

Unrestricted

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 General
£
1,095,685
44,849
(2,242)
1,138,292
Unrestricted
funds
General
£
1,095,685
26,625
(250)
1,122,060		 Restricted
£
-
92,477
-
92,477
Restricted
funds
£
-
98,931
-
98,931		 2024
Total funds
£
1,095,685
137,326
(2,242)
1,230,769
Total funds at
31 August
2023
£
1,095,685
125,556
(250)
1,220,991

15 Fees payable to independent examiner

During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:

Independent examination
Other financial services		 2024
£
1,160
740
1,900		 2023
£
1,050
1,152
2,202

16 Taxation

The charity is a registered charity and is therefore exempt from taxation.

17 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

18 Related party transactions

There were no related party transactions in the year.

Page 22