Charity règistration number 1142976 (England and Wal•sl Company registration number 07247238 ASPATRIA DREAMSCHEME LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
ASPATRIA DREAMSCHEME LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustèes s i( Rawsinson Mrs P Modey Mrs A Greer (Appointed 13 January 20251 Mr5 NM Myers (Appointed 13 January 20251 Mrs B Wilson (Appointed 13 January 20251 Mrs T McRea (Appointed 13 January 20251 Secretary Mis T Knight Charity number (England and Wales) 1142978 Company number 07247238 Registered office Aspatria Youih Club Market Square Aspath"a Wigton Cumbria CA7 3EZ Independent examinèr Annstrong Watson LLP Carfeton House 136 Gray Street Workington Cumbria CA14 2LU
ASPATRIA DREAMSCHEME LIMITED CONTENTS P•ge Trustees. repcxt Independent examinerf5 report Statemelll of financial aciivib.es Balan sheet Notes to ihe financial statements 5-18
ASPATRIA DREAMSCHEME LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees have adople(l the provisions of the Staiement of Recommended Practs" ISORPI'Accounting and Reporting by Charities. issued in March 2005 in pparing the annual Report and finanoal stalemenis ol the charity. The organisalion Asp8tria Dreamscheme started in July 2003 & registered as a charity on 15 Augusl 2007. The charity was constituted on 1 Oth May 2010 as a company limiled by guarantee and is the10 governed by a memorandum and articles of asso(iab"on_ The COEllpany registered as a charity on 20th July 2011_ The charity's objects and its principal activities continue to be." 1. The provision of reC8"0nal and leisure b.me actsvilies provided in the interest of social welfa. designed to improve the conditions of life. Providing support and acb"vities whF¢h develop skills. capacibes and capabilitses to enable paCipatiOn in so¢iety as mature and responsible indiwduals. 3. The provision of opportunities lo explore cultural and $0(ial experien with all sects'ons of the community as part ol personal development. 4. To provide and assist in the provision of community facilib.es in Aspalria and its Distncl. in the Interest of social welfare. for the education and leisure b.me activities of individuals who have a need for such la¢ililies by reason of their youih. age, infimiity. disability or finar7cial hardship. wilh the objecb've of improving their Quality of life The officers to the Board of Trustees indude". Mrs P Morfey (Chairl Mrs K Rawlinson (Treasurer) Mrs B Wilson ISeGretaryl Through the last financial year a pnority of Aspatria Dieamscheme ¢onb"nued lo be the provison ol a facility for the youth ofAspatria and Districtwhich gives young people the opportunity to develop Into young adults capable ol lac1ng File's challenges. Youth Work is led by Linda Hunter who is supported by one other èmployee and asslsted by a number of enthusiastic volunteers. Dreamscheme fflainfains its SUss[u1 policy of giving appropriate youth club members and adult members of the community the opportunity lo develop Into volunteers. Engagement work in both Richmond Hill (Juniorl and Beacon Hill Community Iseniorl Schools has been particularfy successful. Aspatria Dreamscheme is r)ow acDvely seeking lo den its acb"vib"es into the area community development following the successful F(x)d Pantry initiative started in spring of 2020. This Ventu has inlorrned the need to provide a wider range ol services to the adult population. As such A5patria D¥eamscheme purchased. in May 2022, Chapels Rest la 3 three storey premise in Aspatrial with the vision to lutn this into a community kitchen and Arts and crafts cenire for both adults and Childn. The purchase was completed the a5SiStance of a mortgage from the Charity Bank. The purchase has used all of Aspatria Dreamscheme savings. 11 is hop the building will be fil lor purpose in Summer 2025. Al the organisational level. the Board has developed an(5 strengthened ils membeiship. It Is clear that the overall capacity of the Board to deliver projects and iniD"atives in line with its own stated aims and objectives is now Considerably enhanced. A prionty for 2024-25 will be to build back the appropriate level of reserves whilst opening the new Chapel Building. A revised resetves policy is currenuy being drafted." in the interim a Sum of £35.000 has been identified as ihe minimum figure to be fflaintained in the Charity's reserves. The Board ol Trustees are grateful lo all the people and organisatsons who have supported us ovef the course of the year The annual report was approved by the trustees ol the charity on and signed on it5 behalf by.. Mrs P Mortey (Chairl FU6I1VI
ASPATRIA DREAMSCHEME LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASPATRIA DREAMSCHEME LIMITED I report lo the trustees on my examination of Ihe finanaal statements of Aspatria Dreamscheme mited (the charity) for the year ended 31 August 2024. Responsibilities and basis of report As the trustees of the charity {and also its direclors for the purposes of company lawl. you are responsible for the prepardlion of the financial statements in accorda[£ with the requirements of the Companies Act 2006. Having satisfied myself that ihe financjal stslements of Ihe charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In Carrying Out my examin8tion I have followed the DI¢tionS given by the Charity Commission under section 145<5Xbl of the Charities Act 2011. Independent examiner's statement I have completed my examination. I confimi that no maliers have come to my attention in connection with the examination giving ffle cause to believe that in any material respect.. accounting records were not kept in respe¢tofthe charity as wuired by section 386 of the Companies Act 2006. the financial statements do not accord wth those records., or the financial statemen15 do not comply vAth the accounting requirements of section 396 of the Companies Act 2006 other than any requirement thal the finan81 slalements give a true and fair view, which is not a matter considered as part of an independent examination.. or the financial statements have not been prepared in accordance wth the methods and principles of the Slalement of Recommended Practice for accounting ar pong by charities applicable to charities pparIng their financial statements in accordance the Finanaal Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come acT055 no other matters in connectson with the examination to which attention should be drawn in this report in order lo enable a proper understsnding of the financial stslements to be reached. Steven Kirkbride BFP FCA Armstrong Watson LLP Carleton House 136 Gray Street Workinglon Cumbria CA14 2LU Date..
ASPATRIA DREAMSCHEME LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restrictsd funds fvnds 2024 2024 Total unstrICted Restrided funds funds 2023 2023 Total 2024 2023 Notss Income from: Donations and legacies Charitable activities Investments 44.265 162.852 207,117 31,149 210 218,134 249.283 210 Total income Expenditure on- Chantable aclivilies Other expenditure Total exp8nditure 46,371 8.694 117.864 164.235 39,844 133.992 173.836 6.092 10 Net incomel{expenditurel Transfers between funds Net movemant in funds 19.2271 445 44.988 445 35,761 114.5771 84.142 45 029 69.565 Reconciliation of funds= Fund balances al 1 September 2023 Fund balances al 31 Augu51 2024 The statement ol finanaal a¢livibes includes all gains and losse5 re¢ognised in Ihe year. All income and expenditu derive from continuing aclivib"es.
ASPATRIA DREAMSCHEME LIMITED BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Notes Fixed assets Tangible assets Current assets Cash at bank and in hand 12 364.430 241.716 110.351 136.056 Creditors- #mounts falling due within one year 14 Net current assets 124 747 Total assats less current liabilities 408,311 366.463 Creditors= amounts falling due after more than on8 year Net assets The funds of the charity Reslncted income lunds Unrestricted funds 18 19 166.709 160 924 122.166 169 706 The company Is entived lo the exemption tsom the audit requirernent coniained in section 477 01 the Companies Act 2006. for the year ended 31 August 2024. The directors acknowledge their responsibilib"e5 for complying wilh the qUIrefflents of the Companies Act 2006 with respect to accounting re¢otds and the preparats.on ol finanual statemenis. The meFnbers have not required the MpanY to obtain an audit ol its financial statements for the year in question in accordance with section 476. These financial slalements have been prepared in accordance with the provisions applicable to companies subjecl lo the small cornpanies regime. The financial statements were approved by the trustees on . LJilsC Mrs P Mortey Mrs B Wilson Trustee Trustee Company registration number 07247238 (England and Wales)
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 Accounting polFcie5 Charity information Aspalria Dreamscheme Limited is a private company lirnitwj by guarantee incorporated in England and Wales. The registered office is Aspalria Youth Club. Market Squaie. Aspatria, Wigton. Cumbria. CA7 3EZ. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document. the Companies Act 2006. FRS 102 Yhe Finarscial Reporb"ng Standard applicable in the UK and Republic Df Sreland" I"FRS 102,1 and the Chanlies SORP-Accounb"ng and Reporb"ng by Charib"es.' Slalefnent ol Recommended Practice applicable to charib.es Pfeparing their a¢¢ounls In accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 1021" leffectsve 1 January 20191. The charity is a Public Benefit Enbty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not lo prepare a Sktement of Cash Flows. The financial slaternents a prepared in slerfing, whith is the functional currency of the charity. Monetary amounts in these financial staiemenis are rounded to Ihe nearest £. The financial slalernents have been prepared under the historical cost convents"on. The principal accounts'ng policies adopted are sel out below. 1.2 Going concèrn Al the lime ol approving the finan¢ial statements. Ihe trustees have a reasonable expectation that the charity has adequate resources to conb.nue in operab.onal existence for the foreseeable future. Thus the truslees continue to adopt the going concern basis of accounting in preparing the financial st8tements. 1.3 Charitable funds Unrestricted funds are a¥ailable for use al the dis¢Tetson of the trustees in furtherance ol their charitable objectives. Restricted fLJnds are subject to specific condFtions by donors or grantors as to how they may be used. The purposes and uses ol the restricted funds are sel out in ihe notes lo the financial staternentS. Endowment funds are subject to specific conditions by donors ihal the capiial must be fflaintained by the charity. 1.4 Income Income is recognised vrfhen the charity is legalty eno"Iled to il after any perfomance conditions have been mel. the amounts can be measured reliably. and il is probable Ihal income will be Ceived. Cash donations are recognised on receipt. Other donatsons are recognised once the charity has been notified ol the donation, unless performance condib.ons require deferral of the amount. Income tax recoverable in relab'on lo donations received under Gift Aid or deeds ol ¢ovenant is recognised al the time ol Ihe donation. Legacies are recognised on reIpl or otherwise il the charity has been notrfied of an impending dislribulion. the amount is known. and reIpl is expected. If the amount Is not known. the legaw is Ireated as a contingent asset.
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounti-..g pclicias Icontinued j 1.5 Expenditure Expenditure is recognised once there is a legal or constnjctive obligab.on lo transfer economic benefit lo a ihird party, it is probable that a transfer ol e¢onomic benefits will be required in setuernent. and the amount of the obligation can be measured reliably_ Expenditure is classifred by aciivity. The ¢osls of each activity are macle up of the total of d*re¢l costs and shared costs, including support costs involved in undertaking each activity. Oiie¢t costs attributable lo a single acb'vity are allocated direcdy lo that activity- Share(1 costs which contribute lo more than one acts.vity and support costs which are not attnbutsble lo a single activity are apporboned belween those acb"vilie5 on a basis conslstenl with the use of resources. Central staff costs are allocated on ihe basis of time spent. and depreciation charges are allocated on the ports.on of asset's use. 1.6 Tangib18 fixad assets Tangible fixed assets are inits.ally measured at Cost and subsequenuy rneasud al cost or valuation. nel of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases". Fixtures and fiitings 25% reducing balance basis The gain or loss arising on the disposal of an asset is detemined as the differen¢e beeen the s8le proceeds and the carying value of the 8s5el. and is COgniSed in the statement of financial activities. 1.7 Impairment of fixed assets Al each reporting end dale. the charity reviews the carrying amounts of its tangible assets to determine whether there is any IndiGab"on that those assets have suffered an impaimienl loss. If any such indication exist5, the recoverable amount of the asset is estsmated in order to determine the extent of the impairment loss lil any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. depwt5 held at call with banks. Other short-lerrn liquid investrnents with ollginal maturities of three month5 or less. and bank overdrafts. Bank overdraft5 are shown within borrowin9s In current liabilib"es. Basic financial assets Basic financial assets. which include debtors and cash arx1 bank balances, are initially measured al transaction price Including transaction costs and are subsequently carried at amortised cosl using the effeelive Interest method unless the arrangement constitutes a financJng transacts"on. where the transaction Is measured al the present value of the future receipts discounted al a market rate ol interest. Financial asseÉ classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilibes. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transactson. where the debt instrument is measured at the presenl value ol the luture payments disciyJnted at a market rale of interest. Financial liabilities classified as payable within one ye8r are not amortised. Debt Instruments are subsequently carried 8t arnortlsed cost. using Ihe effeGtive interest rate method. Trade creditors are obligations lo pay lor gcx)ds or services that have been acquired in the ordinary course of operations from supplier5. Amounts payable are classified as current liabilities il payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised Initially at Iransaclion price and subsequently measured al amortised cost using the effective interest method.
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) Dere¢ognition of financial liabilities Financial liabilities are derecognised when the charity's contrdclual obligations expire or are disGharged or cancelled. 1.9 Employee beneffts The cost of any unused holiday enlillement is renised in the p&iod in which the employee's services are re1ve. Termination benefits a recognised immediately a5 an expense when the charity is demonstrably committed lo lerminale the employmenl of an employee or to proville teminats.on benefits. 1.10 Retirernent bÈn¢fits PayTrenls lo defined ¢ontribution retirement benefit schemes are ¢harged as an expense as they fall due. Critical accounting estimates and judgements In the application ol the charity's accounb.ng poli(>es. the trustees a required to rnake judgements. estitnales and assijmptions aboul the carrying amount ol assets and liabilities thaf are not readily apparent from other sources. The estimates and associated assumptj.ons are based on historical experience other factors that are considered lo be relevant. Aclual results may tjiffer from these estimates. The eslimales and undertwng assumptions are reviewed on an ongoing basis. Revisions to accounting estimates a recognised in the period in which the estsmate is revised where the revision affects only that period, or in the period of the revision and luture periods where ihe revision affects both current and futu periods. Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Reslri¢led funds funds Total 2024 2024 2024 2Q23 2023 2023 Donations and gifts Government grants Membership lees Less.. deferred income Donated goods and ServIS 29.983 14.282 25.614 197.886 514 161.1621 55.597 212,168 514 {6T.1621 27.921 3.228 4.152 204,964 7,818 32.073 208.192 7,818 Income from charitable activities 2024 2023 Other Income 210
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from investments 2024 2023 Interest receivable 1,573 Charitable Activities Total 2024 Totsl 2023 Staff cosis Depreciation and impaimient Activities, trips and equipment Direct costs Hire ol plant and machinery Other direcl costs and cost of tuck sh¢Jp Rent and rates Water rates Light. heat and power Insurance Repairs and renewals Telephone and Inlemel ¢harge Advertising. printing and siationery General expenses Legal and professional fees Accountancy lees 4e,248 2.228 39.191 32.837 34.443 2,530 50,547 52.635 213 6.328 1.266 754 8.737 6.291 3.727 714 291 990 1.183 5.187 860 10.567 6.943 8,345 1,057 6,677 Analysis by fund Unrestricted funds Reslri¢ted lunds 46.371 117864 39.844 133.992 Truste9S None of the trustees lor any persons ¢onnected bwth Iheml received any remunerab.on or benefit5 frotn the charity during the year. Employees The average monthly nurnbei of employees during the year was". 2024 Number 2023 Numb•r
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Employment costs 2024 2023 Wages and salaries Other pension costs 45,489 759 33,778 665 There We no employees whose annual muneratiOn was more than £60,000. 10 Other expenditure 2024 2023 Finanrirng costs 11 Taxation The charity is exempt from taxation on its activib.es because all its income is applied for Charitable purposes. 12 Tangible fixÈd as$ets Freehold land and Fixlures and bulldings fittings Total Cost Al 1 September 2023 Additions 232.986 124 942 37.793 270,779 124942 Al 31 August 2024 Depreciation and impalmnt Al 1 September 2023 Depreciation charged in the year At 31 August 2024 29.063 2.228 29,063 Carrying amount Al 31 Augvsl 2024 Al 31 Augusl 2023 13 Loans and ovèrdrafts 2024 2023 Bank loans Payable within one year Payable after one year 1,122 7.464
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Creditor5'. amounts falling due thin one year 2024 2023 Notes 13 83nk loans Other taxation and social security Govemfflenl gran15 Accruals and ¢Jeferred income 1,122 1.984 61.162 7,464 1,138 16 15 Crgditors.. amounts falling due after more than one year 2024 2023 Notes 13 Bank loans The long term bank loan secured against freehold property {fixed and floab.ng charges). 16 Restricted funds The restncted lunds of ihe charity comprise the unexpended balances of donations and granls held on trust subjecl lo specific conditions by donors as to how they may be used. At1 Incoming September resources 2023 Rèsources Transfers expended At31 August 2024 Aspatria Junior FC Butterfy club Community Hobby Share Friday Night Project IFYAI Holiday A¢liviiy Fund Men In Sheds (Making Men) Rainbow PantrylRoom Restart ProieGI The Chapel Fareshare Activities & Equtpment Allerdale Council One-ofl GDF- LH Salary AMF - Separate Fund National Lottery - Awards For All Pantry Warm Hub CYA Shelter Charity Shop - Fencing 2.664 1.8 1.806 2.971 2.320 {4,9841 11.6551 11.6871 12.4321 {35.4661 15381 17081 113,5561 12.0871 16.2951 12.1761 14,4001 118,8771 11881 40 241 683 5.538 564 4.999 34.170 892 538 708 2.331 89,715 1,076 7.515 5.000 5,582 12.600 1.210 2.585 87,628 17,518 9.339 22.442 4.IX)O 295 16001 14.6101 26.744 10.054 9,039 9,866 19.905 834 23.220 19.3821 15021 (12.1311 10,523 332 13,417 2,328
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 18 Re$trict•d funds Contlnuedl PvIOuS year- At1 September 2022 Transfers Incoming Resources resources expended At31 August 2023 10.867 10.331 12,7531 (13.0131 11.059 125 14741 15.4191 19,173 2.664 Aspatn"a Junior FC Building Refurbishment Butterfty Club Children In Need Choi$ Community Hobby Share Friday Night Project IFYAI Healthy Meals Healthy Mind Proiect Holiday Activity Fund (HAFI Life Skills Challenge Men In Sheds (Making Men) Rainbow Panlrylroom Reach Out Restricted Equipment Fund Restart Project The Chapel 4 o'clock Club Cornmunity Hardship fund Cumbna Fund 5.221 474 5.553 31.219 3.585 2.613 11.121 3.402 {1,6801 131,2191 11.1651 1891 13.1431 1,856 6.160 18,5801 1718} 111,0071 1,806 2,971 6.000 3,556 273 655 1.899 12.158 2,208 2.518 13,5561 13.2591 16551 985 14,1691 12,2081 12,5181 13,1371 36.077 132.6871 404 12.3461 129.6001 538 708 22.319 14.000 90.775 4.305 3.922 9,976 18,5321 11.0601 12.5191 {9621 3,2241 2,331 89,715 11.7861 12.9601 16.7521 83.053 218,134 1133.9921 145,0291 122.166 19 Unrestricted fvnds The unrestricted fvnds of the charity compnse the unexpended balances of donatr.ons and grants which are not subject to specific conditions by donors and grantor5 as to how they may be used These in¢lude designated funds which have been set aslde out of UnStricte£l funds by ihe trustees for specific pijrposes. At1 Incoming Resources TransfersAt 31 August September resources expended 2024 2023 Living Life Together Better Tomorrow5 General funds 85,263 4,992 79.451 255 691 501 85.518 7.833 15.090 30 748 112.9401
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 19 Unrestricted funds Icontinuèdl Resources TransfersAt 31 August expended 2023 Previous year- At1 September 2022 Incoming resources 83.404 1.859 85.263 Living Life Together BetTrer Tomorrows General funds 12,021 16.1201 19091 4,992 79 451 20 Purpose of Funds The specific putposes foi which the funds a lo be applied are as follows." Restrfcted Funds." Aspalna Juniors FC - To assist w¢h administrai¢on and financial arrangements for a local football club which focuses on junior age groups. This allows the adults who run the club to focu5 upon activibes that directly benefit the young children. Butteffly Club - Funding lor a sm811 group of women who are ¢omrnitted to helping themselves and each other to develop healthier happier lives. Community Hobby Share - To develop and promote partiupatson in hobbies in the local community. Friday Night Project- Funding for overheads. aclivib.es and sessional workeis. Holiday Activity Fund This projecl is lunded by the Department lor Education lo provide additional support to eligible familie5 to aCsS holiday activibes. School holiday5 can be a paCuladY difficull and challenging lirne for some families who may have limited asS to activities. food or leaming opportunities. Men in Sheds Imaking Men) - 'Making Men is a project that permit5 older men lo pursue practical Interests. practice skills and enjoy making things with wood and repairing things. The aim Is to provide opportunities lor older men to make social connecb"ons. friendship building, sharing skills. experience. and knowledge, and of course a lol of Saughter Rainbow Pantry- thi5 is our community pantry. whi¢h is open every Friday 51 weeks of the year. where we provide food for members of our community lor a donabon. Restart Project - The aim of this project to pfoactively support children who are beginning to disengage from their education and so go on to achieve low aGademic atiainment. The Chapel Funding towards the running and rna1ntenan of The Chapel which will be opening shortly and 11 become our Community Kitchen and Art5 and Craft Cenl Fareshare- funding for the pantry from Cumberfand building Souety via FaShare Acbvities and equipment- fun(Jing lor activities an¢ equipment across all projects GDF- LH Salary - Funding lo cover LH Salary AMF Separate Fund- funding given to us In holding when ATown Festtva15 Glosed down. We have not decide(J where to alSocate il yet_ National Lottery- Awards For All Pantry- Ihis 15 funding to 5UPPOrt the delivery of the Rainbow Pantry. CYA Shelter- A projecl where we are working wilh young people to develop an outdoor area undemealh the youth club for them to use. Charity Shop - Fencing, undemeaih the youth club to Pfepare a space to develop for the young people.
ASPATRIA DREAMSCHEME LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 Purpose of Funds Designated Funds.. Beller Tomorrow - Funding towards youth support gmup within the area over a 3 year period. Living life Together - To acquire the Capacity lo ddiver our 10-year Vision, which we have called 'Living Life Togelherf. we have made an offer to PLJrchase a building that will provide us wth more actiwty space. Donations were ceiVed as contribution towards providing a Mortgage dep051t. Restricted Funds that were utilised in the previous year Building Refurbishment- Grants given to install new healing. finish off the kitchen and buy new seating. Children in Need Fund - This funding was awarded to finance salaries of the charity. Choices - The aim ol this projecl is to build up the resilience of young people lo say no to negative risk-taking actions. IContinu•dl Life Skills Challenge - Funding through Cumbria Community FoLFndab'on lo support young people through a range of challenges. both group and personal. Reach out - To engage with young people outside of our existing youth work stnjcture in ordef to provide them with informafion, support and activities that they are no¢ currenuy aCSsing. Youth & Community Development Posts - Funding provided by the Hadfield Trust to deliver sessional work across several projects. 4 0'¢lock Club- Funding lo provide a wami hub lor young people Community Hardship Fund - Funding Iof vouchers to hand out via the Pantry Cumbria Fund - Funding towards youth workei hour5 21 Analysis of net a55ets between funds Unrestrict8d funds 2024 Restricted fvnds 2024 Total 2024 At 31 August 2024: Tangible assets Current assetsllliabiliiTesl Long term liabilities 363.530 1121.9281 900 165,809 364,430 43,881 Unrèstrictèd funds 2023 Restricted funds 2023 Total 2023 At 31 August 2023.. Tangible a55ets Currenl asselsjlliabilitiesl Long lerm Iiabililies 206.697 37.600 35.019 241,716 87,147 124,747 22 Related party transactions There were no disclosable related party transactsons during the yeaf {2023 - none).