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2024-07-31-accounts

Company no. 07710776 Charity no. 1143037

Centre for Thriving Places Ltd Report and Unaudited Financial Statements

31 July 2024

Centre for Thriving Places Ltd

Reference and administrative details

For theyear ended 31 July 2024 For theyear ended 31 July 2024
Company number 07710776
Charity number 1143037
Registered office Godfrey Wilson Limited
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Luke Ashman Appointed 20 June 2024
Helen Bell
Brian Connolly Appointed 27 March 2024
Sarah King Appointed 27 March 2024
Stephen King Resigned 27 March 2024
Rashida Noray
Di Robinson
Dawn Snape
Chloe Taylor Appointed 27 March 2024
Chief executive officer Elizabeth Zeidler
Company secretary Michael Zeidler
Bankers Co-operative Bank
16 St Stephens Street
Bristol
BA1 1JR
Independent examiners Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

Centre for Thriving Places Ltd

Report of the trustees

For the year ended 31 July 2024

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

Governing document

Centre for Thriving Places was set up to build strong communities and improve the lives of people in urban areas in the UK through research, training and communications.

The organisation is a charitable company limited by guarantee, incorporated on 19 July 2011 and registered as a charity on 22 July 2011. The company is under a Memorandum of Association which sets out the objects and powers of the charitable company and governed under the Articles of Association.

The charity remains the nominated Asset Lock of Centre for Thriving Places Consulting CIC (formerly Happy City C.I.C.), its wholly owned trading subsidiary, and recipient of its net profits.

Method of recruiting and appointing new Trustees

The Trustees have appointed a Chair and a Treasurer and membership of the Board is open to other individuals based on the skill requirements of the Board. Trustees may appoint additional individuals who can bring specific skills to the charity as required. Prospective members submit Expressions of Interest, meet with key members of the Strategic Leadership Team and attend at least one board Meeting as an observer before their appointment is voted on and confirmed.

Organisational structure and decision making

The Trustees meet four times a year (as a minimum) with the Chief Executive and members of the Strategic Leadership team to discuss the strategic direction of the charity, ensure its core aims and objectives are being met most efficiently, and take account of any risks to the charity and make sure all legal obligations are satisfied.

Objectives and activities

The charity's objects for the public benefit are:

▪To develop the capacity and skills of the members of socially disadvantaged communities in urban areas in such a way that they are better able to identify and help meet their needs and to participate more fully in society;

▪ to promote the physical and mental health of individuals;

▪to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society; ▪the promotion of urban or rural regeneration in areas of social and economic deprivation by all or any of the following means:

(b) the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances have need for such facilities;

2

Centre for Thriving Places Ltd

Report of the trustees

For the year ended 31 July 2024

The Trustees have considered the Charity Commission's guidance on public benefit when reviewing its aims and objectives, and when planning its future activities.

In line with guidance from the Charity Commission, the Trustees are satisfied that Centre for Thriving Places continues to have charitable purpose and delivers tangible public benefit.

Activities during the year

Centre for Thriving Places (CTP) had an exceptional 2023/24. There is a high demand for the organisation’s mission to support the widespread shift to a thriving, equitable and sustainable economic model around the UK. During the year we have grown our small, strong and expert team; steadily worked to transform our previously uncertain financial position; and worked at scale and in depth across the country.

Our key 23/24 aim to offer a more flexible and holistic approach has been born out across all key programmes this year - where we have worked with diverse places to adapt our framework and tools and embed practical change. Throughout the year our offer has evolved and a ‘Thriving Places Approach’ is increasingly being delivered in communities, local and regional governments and placebased multi-sector partnerships.

Grant-funded large-scale partnership programmes (academic and policy/delivery) have been a key driver in our growth - both in terms of reach, impact and diversity of sectors. We have secured more future funding (for 2024/25 and beyond) than in CTP’s history, which secures the growing impact and financial security for the charity in 2025 and beyond.

1. Policy & Place-based change

In 2023/24 CTP’s work has supported local and regional governments, anchor networks, sector umbrella groups and funders to develop and embed deep wellbeing economy approaches. We have also grown the number of influential cross-disciplinary partnerships in which we played an advisory role. Our focus has been on large scale, collaborative partnerships alongside more nimble rapid research commissions into specific sections of a wellbeing economy.

Our largest programme has been Reclaiming Our Regional Economies (RORE). A partnership between CTP, New Economics Foundation (NEF), Centre for Local Economic Strategies (CLES) and CooperativesUK to work in depth across three Combined Authority areas (North East, South Yorkshire and West Midlands). This is funded by the National Lottery Community Fund, Barrow Cadbury, Friends Provident and Power to Change. This year of the programme has seen a real dynamism developing in many of the regional partnerships and the voice and influence of local communities on regional strategies, plans and action is growing through this work.

3

Centre for Thriving Places Ltd

Report of the trustees

For the year ended 31 July 2024

We began work on a major five year research project looking at the Commercial Determinants of Health, and what can be done at a Local level around the UK to reduce and mitigate them. This Local Health, Global Profits (LHGP) project is led by University of Bath, alongside University of Sheffield, UCL and University of Cambridge and a range of NGO and Public Sector organisations. CTP has an exciting role in this innovative academic partnership, helping to support the development and use of better frameworks, data and research to support local areas to counteract the negative effects of big commercial lobbying and action on local health.

Following our comprehensive report delivered in 2022/23, the Mid-Essex Integrated Care Alliance reengaged us for a longer term contract to help deliver many of the aspects in the plan we helped them to develop. We are providing a package of support including demonstration projects to embed their TPI into practice, some training and workshop delivery, and support on embedding the data, frameworks and approach to policy across their wider system.

Alongside these larger scale programmes we have continued to work with a diverse range of smaller organisations and groups. This includes the Gloucestershire Hotspots Network, for whom CTP has acted as a Learning Partner helping them to better understand, articulate and grow the impact of a key set of anchor community organisations across the region. We have also worked with the Greater London Authority to help them support both local stakeholders across London to embed the London Wellbeing and Sustainability Measure into policy and practice, and with the Crown Estates to support a more integrated approach to their social and environmental work.

2. Research, Data and Insight

CTP has a global reputation for research, data, insight and developing measurement tools to support individuals, communities, and public-sector organisations to better measure, understand and improve wellbeing. This year the highlights of this area of our work includes:

4

Centre for Thriving Places Ltd

Report of the trustees

For the year ended 31 July 2024

3. Communication

CTP continued to provide thought leadership and practical support in the shift to a wellbeing economy through the publication of reports, media and social media outreach, regular blogs, academic articles and speaking engagements and conferences. A full list of these outputs and links to access the papers and articles are available on the website.

Financial review

2023/24 saw an increase in income from £190k to £378k with a +£2k total funds position at the year end (compared to -£37k in 2022/23). The forecast for 2024/25, based on confirmed income only, shows £6k contribution to funds and income of £518k.

The deficit as at 31 July 2024 has in effect been funded by a UK Government guaranteed Bounce Back Loan (introduced to support businesses through Covid19). There was £6k (current) and £33k (non-current) outstanding as at 31 July 2024, with an option for a capital repayment holiday remaining. Monthly repayments on the loan, including repayment of capital, are low. Amounts owed to other third party creditors are also low (£17k other current liabilities as at 31 July 2024).

The trustees aim to build unrestricted reserves sufficient to fund three months activities as a minimum.

Going concern basis of accounting

Despite the year-end deficit the accounts have been prepared on the assumption that the charity is able to continue as a going concern. This is considered appropriate by the trustees having regard to:

5

Centre for Thriving Places Ltd

Report of the trustees

For the year ended 31 July 2024

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the group and the incoming resources and application of resources, including the net income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity 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 in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 10 December 2024 and signed on their behalf by

RNoray

Rashida Noray - Trustee

6

Independent examiner's report

To the trustees of

Centre for Thriving Places Ltd

I report to the trustees on my examination of the accounts of Centre for Thriving Places Ltd (the charitable company) for the year ended 31 July 2024, which are set out on pages 9 to 22.

Responsibilities and basis of report

As the trustees of the charitable 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 charitable 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 the charitable company'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

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

Godfrey Wilson Limited also provides bookkeeping and payroll services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

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

My examination identified a material uncertainty in relation to the charity's ability to continue as a going concern. At 31 July 2024, the charity's unrestricted funds were in deficit by £21,057. For the reasons set out in accounting policy 1(b), the trustees consider it appropriate to adopt the going concern basis for the preparation of these accounts.

7

Independent examiner's report

To the trustees of

Centre for Thriving Places Ltd

I have no other 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.

William Guy Blake

Date: 11 December 2024 William Guy Blake ACA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

8

Centre for Thriving Places Ltd

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 July 2024

Note
Income from:
Donations
2
Charitable activities
3
Other trading activities
4
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
6
Net income
Transfers between funds
Net movement in funds
7
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 RestrictedUnrestricted
£
£
-
28
283,489
90,140
-
4,000
-
-
283,489
94,168
-
16,108
260,974
61,132
260,974
77,240
22,515
16,928
(29,139)
29,139
(6,624)
46,067
29,754
(67,124)
23,130
(21,057)		 2024
Total
£
28
373,629
4,000
-
377,657
16,108
322,106
338,214
39,443
-
39,443
(37,370)
2,073		 2023
Total
£
-
189,681
-
36
189,717
24,588
158,259
182,847
6,870
-
6,870
(44,240)
(37,370)

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the accounts.

9

Centre for Thriving Places Ltd

Balance sheet

As at 31 July 2024

Note
Fixed assets
Tangible assets
10
Intangible assets
11
Current assets
Debtors
13
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
14
Net current assets / (liabilities)
Total assets less current liabilities
15
Net assets / (liabilities)
16
Funds
17
Restricted funds
Unrestricted funds
Total charity funds
Creditors: amounts falling due after more
than 1 year		 31,440
17,758
49,198
(23,058)		 2024
£
739
8,450
9,189
26,140
35,329
(33,256)
2,073
23,130
(21,057)
2,073		 2023
£
-
3,375
3,375
6,668
14,874
21,542
(22,974)
(1,432)
1,943
(39,313)
(37,370)
29,754
(67,124)
(37,370)

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 10 December 2024 and signed on their behalf by

RNoray

Rashida Noray - Trustee

10

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

1. Accounting policies a) Basis of preparation and general information

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Centre for Thriving Places 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.

b) Going concern basis of accounting

Despite the year-end deficit the accounts have been prepared on the assumption that the charity is able to continue as a going concern. This is considered appropriate by the trustees having regard to:

11

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

1. Accounting policies (continued)

c) Income

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of contract delivery is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to charitable activities this year, as all costs of raising funds have been allocated directly.

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Office equipment 33% per annum on a straight line basis IT equipment 33% per annum on a straight line basis

12

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

1. Accounting policies (continued)

i) Intangible fixed assets

Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an assets may not be fully recoverable. Amortisation is provided at the following rates:

Software 4 years straight line

Assets under construction are not amortised until brought into use. Once in use they are amortised over their expected useful life.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note 1h and 1i above.

13

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

2. Statement of financial activities - prior period comparative

Income from:
Charitable activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure) and net
movement in funds		 Restricted
Unrestricted
£
£
93,175
96,506
-
36
93,175
96,542
-
24,588
63,421
94,838
63,421
119,426
29,754
(22,884)		 2023
Total
£
189,681
36
189,717
24,588
158,259
182,847
6,870

14

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

3. Income from charitable activities

Commission income
Measurement sales
Grants
Reclaiming Our Regional Economies
Greater London Authority
Carnegie UK Trust
Other income
Total income from charitable activities
Prior period comparative
Commission income
Event and project income
Grants
Reclaiming Our Regional Economies
Training income
Total income from charitable activities		 Restricted
Unrestricted
£
£
-
72,524
-
13,925
275,314
-
8,175
-
-
3,500
-
191
283,489
90,140
Restricted
Unrestricted
£
£
-
87,288
-
6,218
93,175
-
-
3,000
93,175
96,506		 2024
Total
£
72,524
13,925
275,314
8,175
3,500
191
373,629
2023
Total
£
87,288
6,218
93,175
3,000
189,681

4. Income from other trading activities

Sponsorship 2024
£
4,000		 2023
£
-

5. Government grants

The charitable company received government grants from the Greater London Authority to fund charitable activities. In addition, the National Lottery Community Fund partially funded Reclaiming Our Regional Economies (disclosed in note 17). The total value of such grants in the year ending 31 July 2024 was £283,489 (2023: Reclaiming Our Regional Economies, £93,175). There are no unfulfilled conditions or contingencies attaching to these grants.

15

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

6. Total expenditure

Staff costs (note 8)
Contractors
Administrative costs
Research and development
Accountancy and audit
Depreciation and amortisation
Insurance
Legal and professional fees
Sub-total
Allocation of support and governance costs
Total expenditure
Prior period comparative
Staff costs (note 8)
Contractors
Other administrative costs
Accountancy and audit
Insurance
Depreciation
Legal fees
Sub-total
Allocation of support and governance costs
Total expenditure		 £
16,108
-
-
-
-
-
-
-
16,108
-
16,108
£
24,588
-
-
-
-
-
-
24,588
-
24,588
Raising
funds
Raising
funds		 £
£
190,075
33,712
63,567
-
-
14,552
8,925
-
-
6,222
-
3,175
-
1,056
-
822
262,567
59,539
59,539
(59,539)
322,106
-
£
£
82,989
15,363
44,415
-
-
9,149
-
5,300
-
982
-
48
-
13
127,404
30,855
30,855
(30,855)
158,259
-
Support and
governance
costs
Charitable
activities
Charitable
activities
Support and
governance
costs		 £
239,895
63,567
14,552
8,925
6,222
3,175
1,056
822
2024
Total
338,214
-
338,214
2023 Total
£
122,940
44,415
9,149
5,300
982
48
13
182,847
-
182,847

Total governance costs were £1,700 (2023: £1,600).

16

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

7. Net movement in funds

This is stated after charging:

Depreciation
Amortisation
Trustees' remuneration (see note 18)
Trustees' reimbursed expenses
Accountants' remuneration:
Independent examination (excluding VAT)
Other services		 2024
£
359
2,816
Nil
Nil
1,700
3,485		 2023
£
48
-
Nil
Nil
1,600
3,021

8. Staff costs and numbers Staff costs were as follows:

Salaries and wages
Social security costs
Other staff costs		 2024
£
216,684
18,422
4,789
239,895		 2023
£
114,163
5,989
2,788
122,940

One employee earned between £60,000 and £70,000 during the year (2023: none).

The key management personnel of the group comprise the Trustees, the Chief Executive Officer, the Deputy Chief Executive and the Head of Operations (2023: the Trustees, the Chief Executive Officer and Head of Research and Measurement). Key management personnel renumeration during the year was £171,489 (2023: £90,291).

Average head count 2024
No.
5		 2023
No.
3

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

17

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

10. Tangible fixed assets

£
Cost
At 1 August 2023
287
Additions
-
At 31 July 2024
287
Depreciation
At 1 August 2023
287
Charge for the year
-
At 31 July 2024
287
Net book value
At 31 July 2024
-
At 31 July 2023
-
11. Intangible fixed assets
£
Cost
At 1 August 2023
3,375
Additions
7,891
Transfers
(11,266)
At 31 July 2024
-
Amortisation
At 1 August 2023
-
Charge for the year
-
At 31 July 2024
-
Net book value
At 31 July 2024
-
At 31 July 2023
3,375
Office
equipment
Assets under
construction		 £
611
1,098
1,709
611
359
970
739
-
Software
£
-
-
11,266
11,266
-
2,816
2,816
8,450
-
IT
equipment		 Total
£
898
1,098
1,996
898
359
1,257
739
-
Total
£
3,375
7,891
-
11,266
-
2,816
2,816
8,450
3,375

18

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

12. Subsidiary undertakings

Centre for Thriving Places Consulting CIC

Centre for Thriving Places Consulting CIC is a non-profit organisation, of which Centre for Thriving Places Ltd is the sole and controlling member. The company ceased trading on 31 July 2021 and has had no trading transactions in the current or prior year.

Assets
Liabilities
Funds
13. Debtors
Trade debtors
Prepayments and accrued income
14. Creditors: amounts due within 1 year
Trade creditors
Accruals
Other creditors
Other taxation and social security
Bounce back loan		 2024
£
-
-
-
2024
£
31,440
-
31,440
2024
£
6,505
2,940
1,245
6,311
6,057
23,058		 2023
£
-
-
-
2023
£
6,600
68
6,668
2023
£
1,029
9,106
1,021
5,911
5,907
22,974

19

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

15. Creditors: amounts due in over 1 year

Creditors: amounts due in over 1 year
2024 2023
£ £
Bounce back loan 33,256 39,313

Loans comprise an unsecured bounce back loan received from The Co-operative Bank, repayable from September 2021, to help mitigate the effects of Covid-19 on the organisation. Interest is payable at a rate of 2.5%.

16. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Non current liabilities
Net assets at 31 July 2024
Prior period comparative		 Restricted
funds
£
-
-
23,130
-
-
23,130		 £
739
8,450
26,068
(23,058)
(33,256)
(21,057)
Unrestricted
funds		 Total funds
£
739
8,450
49,198
(23,058)
(33,256)
2,073
Tangible fixed assets
Intangible fixed assets
Current assets
Current liabilities
Non current liabilities
Net assets at 31 July 2023		 Restricted
funds
£
-
-
29,754
-
-
29,754		 £
-
3,375
(8,212)
(22,974)
(39,313)
(67,124)
Unrestricted
funds		 Total funds
£
-
3,375
21,542
(22,974)
(39,313)
(37,370)

20

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

17. Movements in funds

Restricted funds
Greater London Authority
Local Health Global Profits
Total restricted funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds
Reclaiming Our Regional
Economies		 £
-
29,754
-
29,754
(67,124)
(67,124)
(37,370)
At 1 August
2023		 Income
£
8,175
275,314
-
283,489
94,168
94,168
377,657		 £
(8,175)
(251,440)
(1,359)
(260,974)
(77,240)
(77,240)
(338,214)
Expenditure		 £
-
(29,139)
-
(29,139)
29,139
29,139
-
Transfers
between
funds		 £
-
24,489
(1,359)
At 31 July
2024
23,130
(21,057)
(21,057)
2,073

Purposes of restricted funds

Greater London Authority

The GLA were keen to ensure that local stakeholders were motivated and supported to use the Wellbeing Framework they created, once launched. Centre for Thriving Places were funded to provide a short ‘how-to’ type guidance note, focussed on some practical examples. The resulting document was deemed to be critically helpful in ensuring that the Framework and associated data and tools were of immediate use to the audiences they were intended to support and to ensure the resource and time invested into developing the tool and framework continued to be well-used in practice.

Reclaiming Our Regional Economies

Through the Reclaiming Our Regional Economies (RORE) project, (formerly Regional Action Plans (RAP) project), four of the country’s leading new economy organisations will work together to deliver five-year action plans and interventions within three Combined Authority (CA) areas (SYMCA, WMCA, NoTCA). These plans and interventions will support communities in those areas to transform their regional economies to become more inclusive, democratic and prosperous. Through the RORE partnership, the delivery partners will use: established economic development tools, techniques and analysis; community organising and engagement practices; and policy, advocacy and influencing capabilities; to enable the CA areas and their communities, as well as local and national stakeholders, to drive and sustain positive and progressive change in their economies.

21

Centre for Thriving Places Ltd

Notes to the financial statements

For the year ended 31 July 2024

17. Movements in funds (continued) Local Health Global Profits

The vision for the Local Health Global Profits project is to develop a novel and sustainable approach to address the upstream (particularly commercial) determinants of health at local authority and combined authority level (LA in short). This will improve health and equity at scale and contribute to the creation of thriving local communities. Working with local partners, the aim is to use co-production and systems approaches to develop and implement the locally relevant evidence, to produce the resources and systems of support required to address the challenges that have hitherto hampered progress in local population health improvement. We will enhance and build capacity of LAs to address upstream commercial determinants of health.

Funds in deficit

The Local Health Global Profits fund was in deficit at year end as there was confirmed future funding which the charity was not yet entitled to recognise.

Transfers between funds

A one-off transfer has been made from restricted funds to unrestricted funds to reflect expenditure from previous periods (22/23) which were incorrectly categorised.

Prior year comparative
Restricted funds
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds
Reclaiming Our Regional
Economies		 £
-
-
(44,240)
(44,240)
(44,240)
At 1 August
2022		 Income
£
93,175
93,175
96,542
96,542
189,717		 £
(63,421)
(63,421)
(119,426)
(119,426)
(182,847)
Expenditure		 £
-
-
-
-
-
Transfers
between
funds		 £
29,754
At 31 July
2023
29,754
(67,124)
(67,124)
(37,370)

18. Related party transactions

The trustees are not aware of any related party transactions in either the current or prior period.

22