COMPANY REGISTRATION NUMBER: 08164995 CHARITY REGISTRATION NUMBER: 1149320 The Boathouse Youth Company Limited by Guarantee Financial Statements 31 December 2023 HN R&HA Chartered accountants & ststutory auditor 1121114 Whitegate Drive Blackpool FY3 gXH The Boathouse Youth Company Limited by Guarantee Financial Ststemonts Year ended 31 December 2023 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Statement of financial activiiies (including income and expenditure account) Statement of financial position 11 15 16 Statement of cash flows 17 Notes to the financial statements 18 The Boathouse Youth Company Limitsd by Guarantse Trustees. Annual Report (Incorporating the DirectO￿S Report) Yéar ènded 31 December 2023 The Iruslees, who are also the directors for the purFoses of company law. present their report and the financial statements of the chanty for the year ended 31 December 2023. Chalrfs report From the Chief ExeGuts've Officer The B08thouse Youth is a children's charity 11149320) $eNtng those Aged 5 - 17 across B￿CkpOor with fully funded effectiv6 youth seNices. Many of the Children wth whom we worf( are facing disadvantsges. The source of these disadvantsges ¢an summarised in tsvo words - poverty and isolation. The 8oathouse Youth aims to provide a variety of ￿UCatiOnal and recreational activities th* wll bulld confidence restore self-esteem and. above all, bring happiness to the INes of ils young members. Our mission is to break the cycle of deprivation and empower lodals children lo b￿Orne contributing members of society. Established in 2009. we currenty operate in the borough's iwo "most deprived" {accLirdlng to all measurable means) communities: Bloomfield and Grange Park. The Boathouse Youth is a product of its local KtFeties' requirements we embrace those whose needs are greatest. Location is paramounL We have chosen the Bloomffield ward and Grange Park council 8slate due lo their unrivalled levels of deprNats"on within our town. MO￿ than 50% of the children residing in these areas are'living below the breadline" The most significant barrier facing our members is the financial th)silion of their parents. This is why We provide all of our services completely free of any monetsry charge. Without The Boathouse Youth there would be no other ￿reational outtet for the children and young people of these communities, the resultant effect of which would be an inevttable gravitation towards anti-social forms of behaviour, which. in tum, manifest themsefves in high levels of youth rJime and social disorders. A complex variety of issues assoaated with deprivation witribut8 t(Miards instabilty. They may witness regular dome$li¢ violence. druglalcohol misuse. live in poor-housing conditsons, have limited access to basi¢ services such as the denbst. The simplest of commodities are often in the shortest supply.. food in the fridge, a hot drink. help homework, a bed-time story and a clean bed. The Trustees are pleased to present their annual directors. report tO3ether with the financial statements of the charity for the Period ended 31 December 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements ¢ornpty wth the Charities Act 2011, the Companies Act 2006, the Memorandum and Article5 of AsKKiation and Accounting and Reporttng by Charities.. Statement of Recommended Practice applicable to charities preparing their account in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 {effective January 20151. On behalf ot. The Boathouse Youth LAURANCE HANCOCK Chief Exe¢utNe Officer The Boathouse Youth Company Limited by Guarantee Tru8tees' Annual Report (Incorporating tha Director's Report) {cve, to detect material misslalements in respect of irregularities, including fraud. The extent to which our pr(￿edureS are capable of detecting irwularities. including fraud is detai￿ below= Based on our understanding of the charitsble company we considered those laws and regulatFons that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities SORP, tsxation and other legislation relevant lo the sector. We evaluated management's ineenlives and opportUn￿eS for fraudulent manipulation of the financial statements lincluding the risk of override of conlrolsl and determined thal the principal risks were related to management bias in a¢¢ounling estimates and judgemental areas of the financial ststements such as revenue recognition. We addressed this by our work on areas included, but were not limrted to, anatyb'cal procedures, testing of journals, assessment of judgements and estimates, enquiry and testing of controls etc. As part of an audit in 2ccordance with ISAS (UK), we exer¢ise profess¢onal judgment and maintain professional sceplicism throughout the audit. We also". Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a materi21 misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, mtsrepresentations, or the override of internal control. Obtain an understanding of intemal control relevanl to the audit in order to design audtt procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the intemal control. 13 The Boathouse Youth Company Limited by Guarante• Independent Auditorfs Report to the Members of The Boathouse Youth (c¢￿tInUed) Year ended 31 December 2023 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the tnjstees. Conclude on the approprtateness of the trustees. use of the going ¢on¢em basis of accounting and, based on the audrt ewdence obtained, whether a material uncertainty exists related to events or conditions that may cast $ignfficant doubt on the ¢harTIVs abiltty to eontinue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our audilorfs report to the ￿lated diselosures in the financial slalemenls or, rf such disclosures are inadequate. lo modfy our opinKJn. Our conclusions are based on the audit evidence obtained up to the date of our auditorf$ report. However. fijture events or eondtbons may cause the charrty to eease to ¢ontinue as a going eoncem. Evaluate the overall presentation. structure and content of the financral slalements, including the disclosures. and whether the financial statements represent the underfying transactions and events in a manner that achieves fair presentation. We communicate with those charged wth govemance regarding. among other matters, the planned scope and timing of the audit and significant audit findings. including ar¢y significant deficiencies in internal control that we identify during our audiL Usè of our rèport This report is made solety to the chantys members, as a body, in accordance Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken 50 that we might slate to the Gharity's members those matters we are required lo state to them in an auditorfs report and fgr nc) other purpose. To the fullest extent permitted by law, we do not accept or assume ￿SpOnsIbl11ty to anyone other than the chanty and the chariV5 memters as a body, for our audit work, for thi5 rekKJrt, or for the opinions we have fomied. J l>*LL /ol Jacqueline Hyde BA FCA {sen￿r Statutory Auditor) For and on behalf of John Potter & Harrison Chartered accountants & slatulory auditor 1121114 Vvhitegate Drive Blackpool FY3 9XH (6.0g,L4 14 The Boathouse Youth Company Limitsd by Guarantse Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Income and endowmgnts Donats'ons and legacies Other trading activities Investment income Other income 885.225 35,743 7,892 1.489 930.349 118,127 1,003,352 35,743 7,892 1.489 1,077,467 1.658 1.786 633 Totsl income 118.127 1,048,476 1,081,544 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Expenditure on charitable aCtiV￿eS Total expendlture 40,620 1,074.484 40,620 1.193,952 1,234,572 46,932 940,449 10.11 119,468 119,468 1,115,104 987,381 Net lexpendlture)lincome ond net movement In fundg {184,7551 {1.341) 1186,096} 94.163 Reconclllatlon of funds Total funds brought forward Tolal funds carried forward 508.828 45.226 43,885 554.054 367,958 459,891 324,073 554.054 The statement of financial activities includes all gains and losses re¢ogni5ed in the year. All income and expenditure derive from continuing activities. The notes on pages 18 to 29 fomi part afthèsè financial statements. 15 The Boathouse Youth Company Limited by Guarantee Statement of Financial Position 31 December 2023 2023 2022 Note Fixod 0s50ts Tangible fixed assets 16 85,407 67,115 Current asset8 Debtors Cash at bank and in hand 17 20,331 394,570 414,901 6,718 609,656 616.374 Credltor8: amounts falllng due wlthln one year Net current assets 18 132,350 129,435 486,939 554,054 554,054 282,551 367,958 367,958 Total assets less current liabilities Net assets Funds of the charlty Restricted funds Unreslricled funds 43,885 324,073 45.226 508.828 Total ¢harity funds 21 367,958 554,054 hese fina ial statements were approved by the board of trustees and authoris8d for issue on , and are svJned on behalf of the board by.. Mr David Mau Trustee Thè notss on pages 18 to 29 forni part of these financlal statements. 16 The Boathouse Youth Company Limited by Guarantee Statsment of Cash Flows Year ended 31 December 2023 2023 2022 Cash Ilows from operatlng actlvllles Net (expendilurellincome 1186,0961 94,163 Adjustments for. Depreciab'on of tangible fixed assets Government grant income Other interest ￿CeiVable and similar income Accrued {incomellexpenses 17,544 14,819 1256.4391 {199,1251 (7.892} 11,7861 (4.9051 1,305 Changes in.. Trade and other debtors Trade and other Creditors {13,6131 7,820 2,124 70,262 {18,2381 Cash generated from operations 1443,5811 Interest received 7,892 1.786 Net cash used in operating activitres {435,689) (16,452) Cash flows from investlng activities Purchase of tangible assets Net cash used in investing a¢tNities 135.836) {35,836) 151.442} 151,442) Cash flows from flnanclng actlvltles Government grant income Net cash from financing acts"vitses 256,439 199,125 256,439 199,125 Not Idecreaseyincrease In cash and cash equivalgnts Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 1215,086) 609,656 394,570 131,231 478,425 609,656 The notes on pages 18 to 29 fomi part ofthese financial ststements. 17 The Boathouse Youth Company Limitsd by Guarantee Notes to the Financial Statements Year ended 31 December 2023 General Infomiatlon The charity is a public benefil entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The addres5 of the registered office is 170 Horsebridge Road. Blackpool. FY3 7EA. On the 9th May 2024 a new Certificate of Incorporation on change of name was issued to allow for the company to dIs￿nSe wth the need to use"Limited' at the end of ￿5 name. Statement of eompllance These financial stslements have been prepared in cornplian¢e Y￿th FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to ¢h?rities preparing their aceounls in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 Icharities SORP IFRS 1021) and the Companies Act 20fA. AccountSng policies Basis of preparallon The financial ststements have been prepared on the historical cost basis, as modified by the revaluatton of certain financial assets and liabilthes and investment pro￿rtE$ measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the fvnctional currency of the entity. Going concern Whilst the charity is ahvays mirKIfvI of rts reserve levels and ifs need to continue wth fund raising efforts to support expenditure. the charity is not awa￿ of any material uncertainties about ivs ability to continue as a going concem. Judgements and key Gources of estlmation uncertainty The preparation of the financial ststements requires management lo make judgements, estimates and assiJmptFons that affect the amounts rewrted. These estimates and judgements are Continually reviewed and are bas&J on exFerience and other factors, including expectab-ons of futu￿ events that are ￿lIeVed to t* reasonable under the arcumstances. Fund accounting Unrestricted frjnds are availalAe for use at the discretion of the trustees to ftjrther any of the charitys purFoses. Designated funds are UnreStr￿ted funds ea￿arked by the trustees for parb¢ukr future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of su&el8sses.' restricted income funds or endowment funds. 18 The Boathouse Youth Company Limited by Guarantse Notes to the Financial Statements (contlnu8d) Year ended 31 December 2023 Accounting poli¢i95 (¢tsnlirtu In¢omlng resources All incoming resources are included in the statement of financial activtties when entikment has passed to the charity.. it is probable that the econom￿ benefrts associated with the transaction wll flow lo the Charity and the amount can be reliably measured. The foll¢)wing policies are applied to particular Categories of income.. income from donations or grants is recognised when there is evidence of enlrfemenl to the gift, receipt is probable and its amount can be measured reliabty- legacy inwme is fecognised when ￿elpt is probable and entitlernent is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated faciltt5es and serv￿$ are recogni5ed in the a¢counts when received if the value ¢an be ￿liablY measured. No amounts are included for the contribution of general volunteers. inwme from ¢ontracts for the suppty of servKes is reeognÉsed wth the delrvery of the Contracted service. This is classified as unfestri¢ted funds unless there 15 a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accTuals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activitEs lo which it relates= expendrture on raising funds includes the costs of all fundraising activities. events. non- charitable trading actIv￿es, and the sale of donated goods. expenditure on Gharitable activities includes all costs incurred by a charity in undertaking activibes thal fvrther its charitable aims for the benefft of its beneficiaries, including those support costs and costs relating lo the governance of the charity apporb.oned to charitable aclivitses_ other expenditure includes all expenditure that is neither related to raising funds ft)r the Ghanty nor part of its expenditure on charilabfe activib'es. All costs are allocated to expenditure categories ￿flecting the use of the resource. DI￿¢1 costs attributable to a singFe acb'vity are allocated directly to that aclivity. Shared costs are apportioned between the a¢livrties they eontribute to on a reasonable. jusb-fiable and consistent basis. Operatlng lea8es Lease payments are ￿cOgnised as an expense over the kase term on a straight-line basis. The aggregate benefrt of lease in¢enlNes 1$ reeognised as a reducb.on to expense over the lease iemi, on a straight-line basis. 19 The Boathouse Youth Company Limitsd by Guarantee Notes to the Financial Statements (canllntsé(g Year ended 31 December 2023 Accountlng polleles (conllnued) Tangible assets Tangible assets are initially recorded at cost, and subsequently ststed at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried al revalued amounts are ￿e0rded at the fair value at the date of revaluatson less any subsequent accumulated depreCIat￿n and subsequent accumulated impaiment losses. An increase in the carrying amount of an asset as a resutt of a revaluation, is recognised in other recognised gains and losses, unless r( reverses a charge for impairment that has previousty been recognised as expenditure wthin the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is reccKJnised in other rewJnised gains and losses. except to which it offsets any previous revaluation gain. in wh￿h case the loss is shown within other recognised gains an¢J losses on the statement of financial aCtiv￿es. D•pro¢iation Depreciation is calculated so as to WTite off the cost or valuation ot an asset, less Its residual value, over the useful economic lrfe of that asset as follows: Fixtures and fitting5 Leasehold property improvements 25°A Straight line 15.fi reducing balar￿e Depreciation is not provided for on Freehold knd and bu]k￿[ng¥ as they were pur¢hased at below market value and it is the charitys policy to maintain this 8sset in a continued state of sound repair wrth improvements. Accordingly the ￿SidUal value is high and economic life $0 long that any depreciation is inS￿nIfiCant lrnpairment of fixed assets A review for indicators of impaiment is caThied out at each reporting date, with the recoverable amount being estimaled where such indicators exist. Where the Carr￿ng value exceeds the recoverable amount, the asset is impaired accordingty. Prior impaimients are also reviewed for possible reversal at each reporting dale. For the purposes of impaimienl testing. vthen rt is not possible to estimate the recoverable amount of an individual asset, an ests.mate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For ￿nPalm7enI testing of gt￿dWIl1. the goodwill acquired in a business ttjmbination is, from the acquisition date, allocated to each of the eash-generating units that are expected to benefit from the synerg￿8 of the combination, irrespective of whether other assets or liabilities of the ehanty are assigned to those units. 20 The Boathouse Youth Company Limitsd by Guarantee Notes to the Financial Statsments (continued) Year ended 31 December 2023 Accounting policies (condnuedj Government grants Govemment grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the onditions attaching to them and the grants will be receNed. Where the grant does not impose speciffed future perfomanc&relaled condibons on the recipient, il is recognised in income when the grant pmceeds are received or receivable. Where the grant does impose speciffed fijture performance4elated conditions on the recipient, il is recognised in income only when the perfomiane&related conditions have been met Where grants received are prior to satisfying the revenue recognition eriteria, they are ￿cOgnised as a FSnanclal Instruments A financial asset or a financial liability is wognised onty when the charity becomes a paty to the contractual provisions of the instrumenL Basic financial instruments are inttially recognised at the amount receivable or payable ir￿lUding any related Iransaclion eosts. Current assets and ¢urrent liabilities are subsequenuy measured at the cash or other ¢on5ideration eXP￿ted to be paid or received and not discounted. Debt instruments are subsequenuy measured at amortised cost Where investrnents in shares are publicty traded or their fair value can othe￿iSe be measurecl reliably. the investment is subsequenvy measured at fair value wth changes in fair value recognised in income and expenditure. Al other such investments are subsequently measured at cost less impaimenL Other financial instruments, including derivatives. are initsally recognised at fair value, unless payment for an asset is deferred beyond nornial business temis or financed al a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a markel rate of interest for a similar debl instrumenL Other financial instruments are subsequentty measured at fair value, with any changes recognised in the statement of financial actsvitres, with the exceptson of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objeclNe evKJence of impairment at the end of each reporbng date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instNments regardless of signrficance, and other financial assets that are individually significant. these are assessed indmdually for impairment Other financial assets are either assessed individually or grouped on the basis of similar credit risk ¢haracterisb"cs. 21 The Boathouse Youth Company Limited by Guarantee Notss to the Financial Ststements Icoijlinuedj Year •nded 31 December 2023 A¢¢ounling pollcles {conllnuoO1 Flnanclal Instruments (continu¢dJ Any reversals of impairment are recognised immediatety. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not prewousty been re¢ognised. Limitod by guarantee The company is limited by guarantee and a¢¢ordingly does not have a share capital. Every member of the company undertakes to wntribute such amount as may te required not exceeding £10 to Ihe assets of the charitable ¢ompany in the event of its being wound up. Donations and legacles Unrestricted Funds Restricled Total Funds Funds 2023 Donatlons Major donors 331.329 331,329 Glfts Grfts in kind 90,500 90,500 Grants Community lottery Payback time trust Citizens Advice Bureau Henry smrth Blackpool council NHS Blackpool Edward Gosling Garfield weston Rachel charitable trust Children in need Tudor trust Police commission Vera wolstencroft Eric wright foundatson Beaverbrcyjks the Jewellefs UK Youth Blackpool clin£cal commission Government grant income 66,456 66.456 16.000 2,100 16.OC4) 2,1 30,000 30,000 30,000 2.500 30,000 2,500 7,500 7,173 17,817 11,928 7,500 7,173 17.817 31,928 25,000 5,153 20.000 25.000 5,153 256,439 256,439 Other donatlon9 and legacies Other donations 83.457 83,457 1.003,352 885,225 118,127 22 The Boathouse Youth Company Limited by Guarantse Notes to the Flnancial Statements (conllnuod) Year ended 31 December 2023 Donatlons and legacles {con¢lnu un￿Stricted Funds Restricted Totsl Funds Funds 2022 Donatlons Major donors 389.033 389,033 Gifts Gifts in kind 90.500 90,500 Grants Community lottery Payback lime trust Citizens Advice Bureau Henry smith Blackpool council NHS Blackpool Edward Gosling Garfield weston Rachel charitable trust Children in ne￿1 Tudor trust Police commission Vera wolstencroft Eric wright foundation Beaverbrooks the Jewellers UK Youth Blackpool clinical commission Government grant income 40,730 17,250 5,329 40,000 3D,000 25,000 5,000 50,000 40,730 17,250 5,329 40,000 30,000 25,000 5,000 50,000 29.465 22,500 29,465 22,500 12.5 25.000 11,362 23,862 25,000 2.342 3.000 199.125 2,342 3,000 199,125 Other donations and logacles Other donations 79.331 79,331 596,364 481.103 1,077.467 othor tradlng actlvltles Unrestricted Tolal Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 Fundraising events 35.743 35.743 1.658 1.658 Invgstmfrnt Income Unrestricted Total Funds Unrestricted Total Fund$ Funds 2023 Funds 2022 Bank interest recewable 7.892 7.892 1.786 1.786 23 The Boathouse Youth Company Limitsd by Guarantse Note3 to the Financial Statsments (coftflnued) Year ended 31 December 2023 Other in¢ome Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other income Insuran¢e ¢laim 674 815 674 815 633 633 1,489 1.489 633 633 Costs of raising donations and legacles Unrestricted Tolal Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of raising donations and legaci8s Donations 40,620 40.620 46.932 46,932 10. Expendlture on charitable activities by fund ty Unrestncted Funds Re5tri¢ted Total Funds Funds 2023 Outrea¢h work Support ¢osts 1.056,698 17.786 1.074,484 119,468 1,176,166 17,786 1.193,952 119,468 Unrestrtcted Funds Restric￿￿ Total Funds Funds 2022 Outreach work Support costs 474,685 8,985 483.670 456,779 931,464 8,985 456,779 940,449 11. Expendlture on charhable actlvities by actlvity type Activities undertaken diredy Support costs Total funds 2023 Totsl fund 2022 Outreach wod( Governan￿ costs 1.176,166 1,176,166 17,786 931.464 8,985 17,786 1.176.166 17,786 1,193,952 940.449 The Boathouse Youth Company Limited by Guarantse Notes to the Financial Statements (continuerfl Year ended 31 December 2023 12. Net {expenditur8)fin¢omo Net lexpenditureifincome is staled after chargingl{credib"ng).' 2023 2022 Depreciation of tsngible fixed assets 17,544 14,819 13. Auditors remuneration 2023 2022 Fees payable for the audtt of the financial statements 3,600 3,600 14. Staff costs The total staff costs and employee beneffts for the reporting period are anatysed as follows". 2023 2022 Wages and salaries 698,985 541,025 The average head count of employees during the year was 6012022.. 48}. The average number of full-time equivalent employees during the year is analysed as follows.. 2023 No. 2022 No. Chief Executive Key management personnel Support staff 58 60 48 The number of employees whose remuneration for the year fell within the followng band5, were". 2023 No. 2022 £70,000 to £79.999 15. Trustee remuneratlon and expenses No remuneration or other benefits from ern￿oYmeftt with the chanty or a related entity were received by the trustees. 25 The Boathouse Youth Company Limited by Guarantee Notes to the Financial Statsments {conllnu8dJ Year ended 31 December 2023 16. Tangible fixgd assots Freehold Fixtures and Leasehold opety ffttingsimprovements Total Cost At 1 January 2023 Additions 70.083 13.553 72.321 8,988 81.309 142,404 35.836 13.295 At 31 December 2023 13.295 83.636 178,240 Deprtciation At 1 January 2023 Charge for the year At 31 D¢¢ember 2023 51.612 9,991 23.677 7.553 31.230 75,289 17,544 92,833 61.603 Carrying amount At 31 Decernber 2023 13.295 22.033 50,079 48,644 85.407 At 31 December 2022 18,471 67.115 The Freehold propety was purchased al £10.000 which was below the market value of £100.000. This had been occupied on a renl free basis and was acquired from a longstanding donor. 17. Doblors 2023 2022 Trade debtors Prepayments and accTued income Other debtors 14,103 5,804 424 800 5.873 45 20,331 6,718 18. Credltors: amounts falllng dug within one year 2023 2022 Trade Greditors AcGruals and deferred income Social $￿urity and other taxes 12,256 108,147 11,947 132,350 6,324 112,341 10,770 129.435 19. Deferred incom& 2023 2022 Amount deferred in year 108,147 107,436 26 The Boathouse Youth Company Limited by Guarantee Notes to the Financial Statements (conbnuedj Year ended 31 December 2023 20. Government grants The amounts ￿ognISed in the financial ststemenis for government grants are as follows.. 2023 2022 Recognised in incorne from donations and iegacies.. Govemment grants income 256.439 199,125 21. Analysis of charitable funds Unrestricted fund8 At 1 January 202 At 31 December 2023 Income Ex￿ndItUre General funds 508,828 930.349 11,115,104) 324,073 Al 1 January 202 At 31 December 2022 Income Expenditure General funds 438,989 600,441 (530.6021 508.828 Restricted funds At 1 January 202 At 31 D8¢&mber 2023 Ir￿rne Expenditure Restricted Funds 45.226 118,127 1119.4681 43,885 At 1 January 202 At 31 December 2022 Income Expenditure ReStr￿ted Funds 20.902 481,103 1456,779) 45,226 The Boathouse Youth Company Llmited by Guarantee Notes to the Financial Statsments l¢oniinu¢d) Year ended 31 December 2023 22. Anatys18 of net assets between funds Unrestricted Funds Restricted Total Fund8 Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Not assots 41.522 43,885 85,407 3C6,754 108,147 414,901 {24,203) {108,1471 1132,3501 324.073 43,885 367,958 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 21,889 45,226 67,115 508,938 107,436 616,374 121,9991 1107,436} {129,4351 508,828 45,226 554,054 23. Flnancial instruments No additional disclosu￿$ a￿ required in resFect of financial instruments. 24. Analysls of changes in not debt At At 1 Jan 2023 Cash flow5 31 Dec 2023 Cash at bank and in hand 609.656 1215,0861 394,570 25. Opgrating lease commltments The total future minimum lease payments under non-cancellable operating leases are as follows.. 2023 2022 Later than 1 year and not latsr than S years 48.133 61,024 26. Other flnancial ¢ommitmonts The ¢harity has a capital commitment of £456,000 wh￿h has been covered in total by a grant from the Youth Investment fund. for improvements lo the Horsebridge Centre which is owned by Blackpool Coastal Housing and used by the charity on a rent free basis. 28 The Boathouse Youth Company Limited by Guarantee Notes to the Financial Statements (COn￿￿￿e Year ended 31 December 2023 27. Related partles The charity p*Jrchased a freehoid propety during the year from a longstanding donor. The property had been occupied on a rent free basis. The market value was £100,000 and the property was bought for £10.000.