Charity registration number: 1146664
Spectrum WASP
Annual Report and Financial Statements for the Year Ended 31 March 2024
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Spectrum WASP
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 19 |
Spectrum WASP
Reference and Administrative Details
Trustees Heather Johnstone, Chair Andrea Mellors Becky Herward Judi Radford Kate Wightman Gill Savage Nikki Dickinson Charity Registration Number 1146664 Principal Office First Floor Ransom Hall Ransom Wood Mansfield Nottinghamshire NG21 0HJ Independent Examiner John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
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Spectrum WASP
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Heather Johnstone, Chair Jessica Mason, Secretary (resigned 24 April 2024) Andrea Mellors Becky Herward Nicola Bowers (resigned 24 April 2024) Judi Radford Kate Wightman (appointed 24 April 2024) Gill Savage (appointed 24 April 2024) Nikki Dickinson (appointed 24 April 2024)
Structure, governance and management
Nature of governing document
The charity is operated under the rules of its constitution adopted 29th March 2012 and most recently amended April 2021.
Objectives and activities
Objects and aims
SPECTRUM WASP – is a ‘Not for Profit’ Organisation. The aims and objectives are to raise Funds for the Sole benefit of Children and Young People in the Community, to access ‘Spectrum Wasp’ causes, and goals.
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To provide Support, Guidance and information for Parents/Carers and Siblings of Children and Young People on the Spectrum.
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To raise Awareness of the effects of Autism, ADHD and Asperger Spectrum Disorder, Disabilities and Special Needs with Children and Young People in our Community.
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To provide Training opportunities for Parents/Carers to support them in caring for their Children and Young People who can sometimes be incredibly Challenging.
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To provide a varied menu of Activities for our Special Children in order to enhance their quality of life.
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Spectrum WASP
Trustees' Report (continued)
Objectives, strategies and activities
The Spectrum WASP charity aims to assist local Children and Young People on the Autistic Spectrum with Disabilities, Special and Additional Needs, along with supporting siblings and families in Rainworth, Blidworth, Mansfield, and surrounding areas.
The charity supports some families who are disadvantaged, have low incomes, and have no outside support. Through weekly activities and workshops, Spectrum WASP strives to support with health and wellbeing, life skills, learning, social interactions, friendship groups, and fun. Additionally, a comprehensive training program aids parents and carers in managing children/young people with challenging behaviours.
Spectrum WASP benefits Children/Young People on the Autistic Spectrum, their siblings, and families/carers in Nottinghamshire through support networks, training, meetings, and inclusive social events. Over the past 15 years, the charity has supported over 500+ Children, families, and carers, offering learning opportunities, activities, and life skills programs. The group's support, kindness, and understanding have proven invaluable, enhancing the quality of life for both parents/carers and children/young people.
Public benefit
The activities and services our charity bring to the public is invaluable for the support that is offered to Children, Young People, Parents and Carers.
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.
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Spectrum WASP
Trustees' Report (continued)
Achievements and performance
On our register we have currently supported over 500+ children/young people/siblings over the last 15 years, this figure is constantly increasing due to Families finding themselves in crisis and requiring outside support. We are receiving large amounts of referrals coming through from Local GPs, Social Services, Specialist Nurses, Paediatric Consultants, Local Hospitals, Schools, Family Services and CAMHS to name but a few. We also provide Short Breaks respite care which we offer through a ten-year tender with Nottinghamshire County Council, which is due to end in 2028.
We have our base Pine House at Ransom Wood Mansfield, which is set in a wonderful outdoor space/environment giving us the opportunity to provide a varied programme of indoor/outdoor training and learning activities/workshops which we have now been providing over the last six years. We need to sustain funding to continue growing within our local community as the need for our service is highly in demand.
We provide Activities/Learning and Life Skills Workshops which includes Paediatric First Aid, Online Training with Blue Stream academy also working alongside our local College Vision West Notts. Throughout the year we run our School Holiday programmes which includes activities such as Football, Bowling, Swimming, Bike Club, Residential Breaks and Training Workshops etc. for our children/young people/siblings, parents and carers. Some Children/Young Peoples disabilities are not always visibly identifiable, but the majority of our Children/Young people have a diagnosis of Autism, we also cover a wide range of medical conditions. We have expanded our events programme in line with requests from our young people to incorporate our "Teens Club" on a Friday evening for our 11-18 years old, which consists of out and about activities encouraging creativity, social interaction, team building, friendship groups, life/learning skills and fun. These sessions encourage social engagement and helps friendships to form, making it a safe environment and welcoming place to be.
The National Lottery Community Fund Grant has helped to sustain Spectrum WASP over the last two years, we are now in our final year of our funding grant. This has given growth towards Spectrum WASP Moving forward into the future.
We strive as a team to maintain the hard work and dedication needed to help our Charity, Spectrum WASP, provide ongoing support for our wonderful Children, Young People, Siblings and their Families. Our care, passion and dedication to Spectrum WASP serves as our inspiration and motivation for future growth and development. Through partnership working and securing funding, we aim to develop, enhance and uphold community engagement - Moving Spectrum WASP into the future.
A Big "Thank you" to all support from our Grants/Donations/Volunteer Fundraisers/Steering Group/Parent/Carers/Children and young people. Without you there would be no us.
Financial review
Through TNLCF supporting a 10% cost of living crisis over the last two years, this grant has sustained several core areas. Along with our own Fundraising to develop Spectrum WASP, we have been able to increase our reserve pot which gives us sustainability by another £10,000.
Policy on reserves
Spectrum WASP have put together a £60,000 Reserve Pot.
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Spectrum WASP
Trustees' Report (continued)
Major risks and management of those risks
Funding
Spectrum WASP's funding has been secured until December 2024 for core expenses through TNLCF. Nevertheless, with a fourfold increase in children, young people, and families utilising our services in the past three years, it is crucial to proactively seek additional funding to address this surge. Failing to secure future funding could have a detrimental impact on children and families in Mansfield and the surrounding areas of Nottinghamshire.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
19/06/2024
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Heather Johnstone Trustee
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Spectrum WASP
Independent Examiner's Report to the trustees of Spectrum WASP
Independent examiner’s report to the trustees of Spectrum WASP
I report to the trustees on my examination of the accounts of Spectrum WASP (the Charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since the Charity'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 and Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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, FCCA, 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
19/06/2024 Date:.............................
Page 6
Spectrum WASP
Statement of Financial Activities for the Year Ended 31 March 2024
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Total Income Expenditure on: Charitable activities 7 Total Expenditure Net income Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted £ 32,051 - 6,284 38,335 (24,647) (24,647) 13,688 (262) 13,426 80,586 94,012 |
Restricted £ - 261,798 - 261,798 (221,182) (221,182) 40,616 262 40,878 90,209 131,087 |
Total 2024 £ 32,051 261,798 6,284 300,133 (245,829) (245,829) 54,304 - 54,304 170,795 225,099 |
Total 2023 £ 31,208 221,483 1,267 |
|---|---|---|---|---|
| 253,958 | ||||
| (183,031) | ||||
| (183,031) | ||||
| 70,927 - |
||||
| 70,927 99,868 |
||||
| 170,795 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 15.
The notes on pages 10 to 19 form an integral part of these financial statements. Page 7
Spectrum WASP
Statement of Financial Activities for the Year Ended 31 March 2024 (continued)
These are the figures for the previous accounting period and are included for comparative purposes
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Total Income Expenditure on: Charitable activities 7 Total Expenditure Net income Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted £ 31,208 - 1,267 32,475 (18,748) (18,748) 13,727 (110) 13,617 66,969 80,586 |
Restricted £ - 221,483 - 221,483 (164,283) (164,283) 57,200 110 57,310 32,899 90,209 |
Total 2023 £ 31,208 221,483 1,267 |
|---|---|---|---|
| 253,958 | |||
| (183,031) | |||
| (183,031) | |||
| 70,927 - |
|||
| 70,927 99,868 |
|||
| 170,795 |
The notes on pages 10 to 19 form an integral part of these financial statements. Page 8
Spectrum WASP
(Registration number: 1146664) Balance Sheet as at 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 9 | 1,181 | 514 |
| Cash at bank and in hand | 10 | 228,079 | 173,602 |
| 229,260 | 174,116 | ||
| Creditors: Amounts falling due within one year | 11 | (4,161) | (3,321) |
| Net assets | 225,099 | 170,795 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restricted funds | 15 | 131,087 | 90,209 |
| Unrestricted income funds | |||
| Unrestricted funds | 94,012 | 80,586 | |
| Total funds | 15 | 225,099 | 170,795 |
The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on 19/06/2024 .................... and signed on their behalf by:
......................................... Andrea Mellors Trustee
The notes on pages 10 to 19 form an integral part of these financial statements. Page 9
Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Spectrum WASP 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.
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.
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.
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 and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
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 aggregates 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.
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
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 £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 Computer equipment
Depreciation method and rate 33.3% straight line basis
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 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.
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.
Designated funds are unrestricted funds and resources set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 Income from donations and legacies
| Donations and legacies; Donations from companies, trusts and similar proceeds Donations from individuals 3 Income from charitable activities Short Breaks Grants 4 Income from other trading activities Local fundraising |
Unrestricted funds General £ 5,500 26,551 32,051 Restricted funds £ 76,259 185,539 261,798 Unrestricted funds General £ 6,284 6,284 |
Total 2024 £ 5,500 26,551 32,051 Total 2024 £ 76,259 185,539 261,798 Total funds £ 6,284 6,284 |
Total 2023 £ 15,054 16,154 |
|---|---|---|---|
| 31,208 | |||
| Total 2023 £ 66,353 155,130 |
|||
| 221,483 | |||
| Total 2023 £ 1,267 |
|||
| 1,267 |
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
| 5 Grants and donations National Lottery Community Fund Mansfield District Council The National Foundation National Grid BC Whiteley Trust Elizabeth Heath Charity Mansfield Hospital Theatre Troupe Linneys Parent donations Sundry donations Local Giving Recycling (Oliver Hobson) Coin boxes Robin Hood Lottery |
Unrestricted funds £ - - - - - 2,500 1,500 1,500 19,912 2,999 1,561 1,052 709 318 32,051 |
Restricted funds £ 122,567 15,000 14,845 10,000 5,000 - - - - 18,127 - - - - 185,539 |
Total funds £ 122,567 15,000 14,845 10,000 5,000 2,500 1,500 1,500 19,912 21,126 1,561 1,052 709 318 |
|---|---|---|---|
| 217,590 |
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
6 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 £ 150,441 5,120 1,355 156,916 |
2023 £ 123,086 3,202 1,222 |
| 127,510 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| Number of employees | 2024 No 18 |
2023 No 17 |
|---|---|---|
2 (2023 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £1,355 (2023 - £1,222).
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 £66,433 (2023 - £64,037).
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
7 Expenditure on charitable activities
| Bank charges Cleaning Communications & postage Donations given Fundraising costs Gifts & medals Insurance Legal and professional fees Marketing & publicity Materials, equipment & craft Memberships & subscriptions Office/ general admin costs Payroll fees Rates Refreshments & hospitality Rents & amenities Sports kits Sundry expense Travel, training & volunteers Wages, sessional, NI & pension Depreciation Activities, residential, workshops & events |
Unrestricted funds General £ 117 252 694 1,019 1,908 3,355 1,101 2,026 68 3,826 651 1,140 590 - 2,448 86 1,862 10 60 1,174 - 2,260 24,647 |
Restricted funds £ - - 4 - - 420 - - - 16,926 164 - - 461 73 9,352 - - 2,879 155,742 - 35,161 221,182 |
Total 2024 £ 117 252 698 1,019 1,908 3,775 1,101 2,026 68 20,752 815 1,140 590 461 2,521 9,438 1,862 10 2,939 156,916 - 37,421 245,829 |
Total 2023 £ 98 242 615 143 1,077 2,179 830 1,666 757 4,773 390 382 134 323 1,479 9,081 2,085 33 2,180 127,510 490 26,564 |
|---|---|---|---|---|
| 183,031 |
8 Independent examiner's fees
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 £ 775 817 1,592 |
2023 £ 840 612 |
|---|---|---|
| 1,452 |
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
9 Debtors
| Prepayments 10 Cash and cash equivalents Cash on hand Cash at bank 11 Creditors: amounts falling due within one year Other taxation and social security Accruals |
2024 £ 1,181 2024 £ 33 228,046 228,079 2024 £ 3,134 1,027 4,161 |
2023 £ 514 |
|---|---|---|
| 2023 £ 134 173,468 |
||
| 173,602 | ||
| 2023 £ 2,481 840 |
||
| 3,321 |
12 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.
13 Related party transactions
There were no related party transactions in the year.
14 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
15 Funds
| Unrestricted funds General General Designated Designated Total unrestricted funds Restricted funds 2024 The National Lottery Community Fund BC Whiteley Trust Core Costs - National Lottery Community Fund Short breaks Ben Nevis fundraiser Cook Stars Music Project Sunshine Warmth Melts Winter Blues Renfest/Team Vinyl Total restricted funds Total funds |
Balance at 1 April 2023 £ 30,586 50,000 80,586 21,514 (189) 41,150 27,734 - - - - - 90,209 170,795 |
Incoming resources £ 38,335 - 38,335 - 5,000 122,567 76,259 17,527 15,000 14,845 10,000 600 261,798 300,133 |
Resources expended £ (24,647) - (24,647) - (1,953) (141,878) (51,535) (5,846) (4,890) (4,677) (10,262) (141) (221,182) (245,829) |
Transfers £ (10,262) 10,000 (262) (21,514) - 21,514 - - - - 262 - 262 - |
Balance at 31 March 2024 £ 34,012 60,000 |
|---|---|---|---|---|---|
| 94,012 | |||||
| - 2,858 43,353 52,458 11,681 10,110 10,168 - 459 |
|||||
| 131,087 | |||||
| 225,099 |
The specific purposes for which the funds are to be applied are as follows:
2024 National Lottery Community Fund / Core Costs – funding from the National Lottery Community Fund to sustain Spectrum WASP for 3 years, covering core costs in several areas, and to cover the cost of living increase. This funding has given us the sustainability to grow and develop over the last three years. Spectrum WASP would not be here today without having this Core funding. It has been amazing to work alongside The National Lottery Community Fund, 'Moving Spectrum WASP into the Future'.
BC Whiteley Trust - funds go towards the cost of residential, activities and food.
Short Breaks – respite care funded by Nottinghamshire County Council.
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Ben Nevis - fundraising has now reached new Heights, with Nathan and friends John-Joe, Billy and Steve raising an almighty amount of over £17,000. What a phenomenal accomplishment for the four friends to reach the peak together, trekking through all 4 seasons in one day, from sunshine, to wind, rain and 6ft of snow at the pinnacle of their climb after a long 9hrs. Ben Nevis is officially the BIGGEST Fundraiser to date for Spectrum WASP.
Cook Stars - through Mansfield District Council, and the Mansfield CVS we have been successful in our application for the UKSPF ‘Levelling UP Fund’, with this we are able to bring in Life & Learning Skills with colourful fun cooking sessions, through our cooking programme with Steph at ‘Cook Stars’ over the next 3 years. We will be making ‘Cooking Fun with Healthy and Nutritious Meals’ for all Children/Young People, Parents and Carers at Spectrum WASP. We have received £5,000 per year totalling £15,000 over the three years. Our sessions include after school cooking for all ages (5-18yrs) this also includes school holiday cooking each year. This is going to be amazing for everyone involved so let’s get back to ‘Making Cooking Fun’.
Music Project - an application was put through to Youth Arts for £29,690, in which we were successful, to continue with our after school Music Workshop for our Children and Young People to carry on the outstanding project that has been taking place, developing their knowledge and understanding of a wide variety of musical instruments and equipment. The Children and Young People started this project with no knowledge of musical instruments and have gone on to play multiple live performances as our very own Spectrum WASP Music Band.
Sunshine Warmth Melts Winter Blues - funding from National Grid, that all started with a funding bid put forward in November asking for an innovative idea with the current cost of living crisis… “How can we keep our Families, Children/Young People warm without having the use of any Money/Gas/Electric???” Oodies that’s how! Within days we received the e-mail we had all been anticipating. The National Grid was so impressed with our idea they granted the bid immediately and we received the funding of £10,000. This funding would also enable Spectrum WASP to provide Warm Packs, to include, Warm Blankets, Draft Exculders, Socks, Slippers, Hats, Scarves, Radiator Foil, etc.. The feedback and photos that have been received in the Spectrum WASP office have been invaluable, with Parents/Carers able to cut down on their heating, Children/Young people putting there Oodies on as soon as they get home and so much Gratitude and Thanks being received. Spectrum WASP would just like to say a BIG Thank You to The National Grid for making this idea possible.
Renfest/Team Vinyl - thanks to Nicky, Dawn and all the Volunteers at Team Vinyl for the ‘Amazing Donation’ of £600 following Rainworth's annual Renfest. The community of Rainworth came together and celebrated the festival. This was a wonderful donation that supported all of our Christmas selection boxes for all Children and Young People and also monies went towards our Christmas Party in December 2023.
SJP Residential - funds go towards the cost of residential, activities and food.
Skegness Meals for children - funds go towards the cost of residential, activities and food.
The designated fund is a ring-fenced reserve to cover core costs if required.
The transfer from the General fund to the Sunshine Warmth Melts Winter Blues fund covers the deficit on this activity.
The transfer from the 2024 National Lottery Community Fund to the Core Costs fund was to combine funds for the same purpose.
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Spectrum WASP
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
These are the figures for the previous accounting period and are included for comparative purposes
| Unrestricted funds General General Designated Designated Total unrestricted funds Restricted 2024 The National Lottery Community Fund BC Whiteley Trust Core Costs - National Lottery Community Fund Short breaks SJP residential Skegness meals for children Total restricted funds Total funds |
Balance at 1 April 2022 £ 36,969 30,000 66,969 - - 32,899 - - - 32,899 99,868 |
Incoming resources £ 32,475 - 32,475 21,514 - 130,796 66,353 2,420 400 221,483 253,958 |
Resources expended £ (18,748) - (18,748) - (189) (122,545) (38,619) (2,490) (440) (164,283) (183,031) |
Transfers £ (20,110) 20,000 (110) - - - - 70 40 110 - |
Balance at 31 March 2023 £ 30,586 50,000 |
|---|---|---|---|---|---|
| 80,586 | |||||
| 21,514 (189) 41,150 27,734 - - |
|||||
| 90,209 | |||||
| 170,795 |
16 Analysis of net assets between funds
Unrestricted
| Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
General £ Designated £ 38,173 60,000 (4,161) - 34,012 60,000 Unrestricted General £ Designated £ 33,907 50,000 (3,321) - 30,586 50,000 |
Restricted £ 131,087 - 131,087 Restricted £ 90,209 - 90,209 |
2024 Total funds £ 229,260 (4,161) |
|---|---|---|---|
| 225,099 | |||
| 2023 Total funds £ 174,116 (3,321) |
|||
| 170,795 |
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