Registered number: 08191371 Charity number: 1149683 LEARNING AND COMMUNITY SPORT @WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND uNAUDED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ATKINS & CO CHARTERED ACCOUNT ANTS 7 MORSTON COURT AISECOME WAY WESTON-SUPER-MARE SOMERSET BS22 8NG
LEARNING AND COMMUNrrY SPORT @ WORLE TRUST IA COMPANY LIMITED BY GUARANTEE) CONTENTS Referen and Administrative Details of the Charity. tts Trust5 and Advisers Trustees, Report Independent Examinerfs Report Statement of Financial ActNities Balance Sheet Cash Flow Statement 10 Notes to the Financial Statements
LEARNING AND COMMUNrrY SPORT @ WORLE TRUST {A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISORS YEAR ENDED 31 AUGUST 2024 Trustees P Savage. Chair P Magor, VI Chair R Dakin (resigned June 2024) A Blackborow S Ireland C Banks R Bell S La Touche (resigned August 2024) Company registered number 08191371 Charily registered number 1149683 Registered office Learning and Communitysport @ Worte Trust 58 New Bristol Road Weslon super Mare N(rth Somerset BS22 6AQ Accountants Atkins & Co 7 Morston CDLJrt Aisecomc Way Weston super Mare North Somerset BS22 8NG Bankers Lloyds Bank PIC 2 South Parade Weston super Mare North Somerset BS23 1JL Page 1
LEARNING AND COMMUNITY SPORT @ WORLETRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT YEAR ENDED 31 AUGUST 2024 Charity Structure The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 August 2012. The management of the company is the responsibility of the Trustee> who are elected and co-opted under the terms of the Articles of Association. Decisions are made colleclively by the Boafd of Trustees. The Trustees consist of at least 3 and not more than 13 persons. The trusteès shall include.. Up to one individual representalive of the Local Authority {North Somerset CounGil)- Up ta Iwo individual represenlatives of the Local Community- Up to len other individuals. Trustees will hold off ice for a term for up to three years from the dale of their appointment. One third {or the number nearest one thirdl of the Trustees musl retire annually, those longest in office retiring first. A retiring Trustee may be reappointed. A Trustee may serve 3 maximum of three temis or up to three years per term. A Trustee who has completed three continuous terms of service as a trustee is nol eligible lo be re- appointed 85 8 Truslee Unt one year after his retirement. The Chair of Tru8t8es and the company Secretary are appointed by the Trustees and confirtTed annually. Every Trustee has one vote on each issue. The Board of Trustees constantly review5 the number of TTUStees and recruits when required. Any new Trustee will have their responsibilities explained by the existing Trustees and other professional advisors as appropriate. b) Charity Alms and Objectives The principal objectives of the charity are.. Promote the provision of facilities for recreation. sport. culture or olher18isure-lime occupation in the inlerests of he2lthy life slyes. social welfare 8ThJ with the object of increasing accessibility and improving the condition of lrfe of individuals throughout the United Klngdom, including the local community", Relieve the need of indiwduals with learning disabilities, by providing support and zssistance to the individuaLs, their families and their carers to encourage Ihe individuals to be actively involved in the local community. Advance education throughoul the United Kingdom. induding, sludenls of Worle Community School. by providing or assisting in the provision of sports and other facilities in the local community 2nd, in particular, al schools-. and Promote such other charilable purposes 2S the truslees shall, in their absolute discretion, decide. b) d) Activ5tlos for Achieving the Objectives The Charity provides day care faCllieS for adults with learning drficulties via the Brandon Trust. A pottery (operated by 8anwell Pottery) is in operation. A community meals-on- wheels service is provided to residents within Weston-super-mare from the facilivs kitchens. Sporting facilities available lo he Page 2
LEARNING AND COMMUNITY SPORT @ WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {continued) YEAR ENDED 31 AUGUST 2024 Actlvlties for Achlaving the Objectives Icontlnued) cotnmunity include a dance sludio, gym, tennislnetball courts. an all-weather football 3G pitch and a hockey astro pitch. Community use of the school's gymnasium. sports hall and grass pitches occur outside of school hours. Achievomènt and Performance Whilst the Charity was established on 9 November 2012, the facilities for the Learnlng and Community Sport @Worle were not completed until the end of December 2012. Accordingly¥ Klor1e commenced operations on 2 January 2013 with the official opening taking place on 25 January. The official opening wa5 attended by the Chairman of the Weston-super-mare Council, Mr Terry Porter together ivilh students from Worie Communty, Brandon Trus1 staff and users. Council dignitaries and represenlatives from Wilmott Dixon. the construction com pany. By the end of year, 31 Augusl 2024. the @Worle faolity had apwipted five of the permitted thirteen Trustees and employed twenty staff as wdl as twehie self employed studio instructors and eight self employed pe.'sonal Irainers. Opening times were.. Monday-Thurday 06.'00 - 22..00 Friday 06.00- 21=00 Saturday 08.'00- 18.00 Sunday 08.00 - 21:00 The all-weather football AstroTurf ptlch accommodated 25 IoGal foolball teams with age groups from four years to 65+ years old. The teams hav..ng differing standards and ages, were for both male and female. and some teams were fully indusive. Two commercial busifjes5e5 used lfr.e pitch for soGcer leagues., one business 15 local to WestorFSuper-Mare and one business in a national company. In addition, three Ioc81 rugby teems Irained al the facility. Football clubs were encouraged to b8come accrediled with the Chartered Standard promoting good football values and respecl. At the end of August 2024. approximately 300 people were using the facility on a weekly basis. @Worle was operating 53 fitnessldance Glasses, including all ability Session with approximately 1000 individuals altendirbg each week. Classes included., Zumba, Kids Street Dance, Zumba Strong, Boxercise. Step Aerobics, Thighs Bums and Tums, Yoga, Pilates, chair frtness. Tai Chi. Spin. Kettlebells. Bands and Bells and Fitness Pilates. New inclusive dance sessions have been :.aunched twice a week to support adults and teens with learning disabilities New Chair Classes have also launched to SLJPPOrt Ihe aging community and rehabilitation sessions three limes per week. @Worle run nalf iertn holiday clubs coaching sports arts and crafts and have a Icc81 zoo bringing animals to educate children on the world around us accomodating 125 children Users of the school's sports hall, gymnasium and grass pitches included many individual hirers but also larger groups including Hope Church, Football Foundations and South West Minis who offer a regular Saturday morning youth sports club. Local archery . badmiD.ton. Netball and basketball clubs also use Ihe spaces provided weekly At the end of August 2024, the @Worle membership was approximately at 1100 members. The majority of members are local to the Worle area with some (x)ming from the school and further afield. @Worle donates 6 hours of its gym time to the school per week for educational purposes so the studenls of the PLT trust can learn about hp21th and filness. Page 3
LEARNING AND COMMUNITY SPORT @ WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (continued} YEAR ENDED 31 AUGLIST 2024 Achievement and Performance (contlnued) Thè hiTing price for the 3G piich remained very compelilive, with only six of the available foty-one hours per week being charged at the commercial rate. The commercial rale was applied to the &SocCer league businesses_ This alloived lower pitch hiring prices to be maintained for local club users. 1000/0 of the clubs returned for the following season to book with fi)Worle. We have put within our strategic plan that Dnly 200/0 of the 3G allotted tirne will be allowed for commercial allocation and the remaining 800/0 for community use. The cenlre set up a number of charity events for various cha."ilies. the largest event was for the Weston Hospice where Ihe ntre attempted a 12 day spin attempt with the VI Chair at the head of this evenl. W8 also support local charilies such as the Westor, LKJns. and local spin a thons for charities close lo our hearts. The Brandon Trust were immensely successful delivering cornmunity inclusion for people with learning disabilities. integrating stsff and users from the old William Knowles centre to the new facilities offered within @Wor18. The Brandon Trust's Grounds and Gardens team undertook the @Worle's grounds maintenance work 8nabling the development of key working skrlls for many people with leaming difficultie5. Worlc Lounge Café was rebranded back in september 2Q20, 5itKe the rebrand, the lounge has become a attr2clion in itself within the centre. il is open 6 days a weeks for breaksfasl,lunch and cream leas. The lounge Serves and stocks local products such as our house coffee from Brsitol Twenty. The cakes and cheesecake counter is a large a? Ihat sells well. The lounge also became cafe of the year from the Weston Mercury Plans for the future The Charity aims to continue to develop the stK)rbng facilities over the coming years with the provision of addilion81 gym equipment as a centre we are raising funds through grants to start the Yhe Hive Project" The Hive will provide a new space for adults and teens with learning disabilities to learn new life skills. provide a space for community groups who rnaybe facing disadvantage. it will also be a training space for thé centre lo train the fitness instructors of the future. Closer ties bebNeen the school and Brandon Trusl will be encouraged with joint ventures such as open days at the centre for seNice users 2nd publlc. Community engagernont will continue through our chairty fundraising, WorleFest and links with local community groups. Plans for the 3G to be redevolped will still continue to look at the summer of 2025. wilh Ihe opportunity lo hold tool station gameg not just gras5 root games. Parking managemenl and extra spaces will also be a project to encorporate intc the growth of the centre Financial Review The Trustees (who are also directors of the Charity for Ihe purposes of ltre Companies Act) present their annual report together with the financial statements of Leaming and Committee Sport @ Worle Trust for the period ended 31 August 2024. The Trustees confirm that Ihe Annual report and financ,81 statements of Ihe company comply with the current statutory requirements, the requirements of the companls governing document and the provisions of the Staternent of Recommended Pradice {SORP) 'Accounting and Reporting by Charities" issued in March 2005. The trustees have 3 reasonable expectation that the Charty has ad8quate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt tha going concern basis in preparing the fir)ancial stalements. Principle Funding. The principal funding source is from rental income from the Brandon Trust and North Somerset Council Adult Social Services and Housing together with membership fees of the gym and hiring charges for using the facilities Page 4
LEARNING AND COMMUNITY SPORT @ WORLETRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (continued) YEAR ENDED 31 AUGUST 2024 Flnanclal Revlew (continued> Reserves Policy. The Trustees. policy is lo hold sufficient reserves as cash which. when long-term maintenance requirements arise can be used to fund these works. Investmenl Policy. Aside from retaining a prudent amount in reserves. the Charity also aims lo set aside a minimum of £30,000 each year to cover the costs of replacing fixed asse15 such as the AstroTurf pitches. These investments will be held in secure. no risk savings acGounts. Risk Management. The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Cornpany and. are satisfied that systems and procedure5 are in place to mitigate our exposure to Ihe major risks. Paul Savage Director I Chairman Signed on behalf of the board of tpustees Learning and Commurrity Sport @Worle Trusl Page 5
LEARNING AND COMMUNrrY SPORT @ WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 I report on the accounts for the year 8nded 31 August 2024 set OLrt on pages eight to eighteen. Respectlve responsibilities of trustoes and exarninor The chariws trustees (who are also tkie directors for the purposes of company law) are responsible for the preparalion of the accounts in accordance with the requiremenls of the Companies Act 2006 ("The 2006 Act ). The charitys trustees consider that an audit is not required for this year (under Sectson 144(2) of thc Charities Act 2011 (the 2011 Acl)) and that an independent examination is Having satisfied myself that the charity is not subject to audit this year under Part 16 of the 2006 Act and is 81igible for independent examination, it is rTly responsibility to= examine the accounts under Section 145 of the 2011 Act to follow the proc8dures18id down in the General Directioris given by the charity commission (under Section 145(5)(bl of Ihe 2011 Acl)- ar.d to state whether particular matters have come to tny attention. Basis of the independent examlnerfs report My examination was carried out in accordance with the General Directions given by the Charity Commission. An exarninalion ndudes a review of the accounting records Kept by the charity and a comparison of the aoUntS pre5eiled with those records_ 11 also inclL'des consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as tnislees concerning any such Tnatters. The prOdureS undertaken do not provide all Ihe evidence that WOLJld be required in an audit, and consequenlly no opinion is gtven as to whether the accounts present a and fair view ' and '.he report is limited to those matters set out in the statements below. Page 6
LEARNING AND COMMUNITY SPORT @ WORLE TRUST IA COMPANY LIMrrED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT Iconlinued) FOR THE YEAR ENDED 31 AUGUST 2024 Independent examiner's statement The company's gross income 8XC8eded £250,000 and l am qualffied to underake the examination b! being a qualified member of The Institute of Chartered Accountanls in England and Wales. In connection with my examinalion, no matter has come lo my attentK)n.' 11) which gives me reasonable cause to believe that, in any malerial respect, the requirements lo keep accounting records in accordance with Section 386 and 387 of the Comp2nEs Act 2006. and to prepare accounts which accord with the accounts'ng records. Comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the meihods and principles of th8 Accounting and Reporting by Charities: Statement o! Recommended PraGlice applicable to charities preparing their accounts in accordance with the FinaTla1 Reporting Standard applicable in the UK arKI Republic of Ireland (FRS 102) (effective 1 January 2015) hq2ve not been met.. or 12) to which, in my opinion, attention should be drawn in order to enable a propef understanding of the accounts to be reached. Signed: Dated: Debbie Atkins FCA Atkins & Co Chartered Accountant5 7 Nlorslon Court Aisecome Way Weston-super-mare Somerset BS22 8NG Page 7
LEARNING AND COMMUNifY SPORT @ WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2024 Unrestrlcted Restricted funds funds 2024 Total funds 2024 Total funds 2023 Notes INCOME FROM: Charitable activities Investment income 791,611 108 791,611 108 648,225 30 TOTAL INCOME 791.720 791720 648,254 EXPENDITURE ON: Charitable activities 851,600 851,600 659,351 TOTAL EXPENDITURE 851600 659,351 NET INCOME BEFORE TRANSFERS Transfers bebNeen Funds 59.881 59,881 11.097 14 NET INCOME 59.881 59,881 11,097 RECONCILIATION OF FUNDS Total funds brought forward 262,974 262,974 274,071 TOTAL FUNDS CARRIED FORVVARD 203,093 262,974 All activities relate to continuing operations. Th8 notes on pages 1110 18 fM part of Ihese financial statements. P2ge 8
LEARNING AND COMMUNITY SPORT @ WORLE TRUST {A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER." 08191371 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Notes FIXED ASSETS Tangible assets 10 316,876 308,550 CURRENT ASSETS Debtors Cash in bank and in hand 56,116 16,253 20.589 36,842 17 91,278 CREDITORS: Amounts falling due within one year 12 41,422 NET CURRENT ASSETS 15,988 (4,680) CREDITORS Amounls falling due after more than one ye2r 19 129,771 40,996 NET ASSETS 203 093 262 974 FUNDS Unrestricted funds 14 203.093 262,974 TOTAL FUNDS 203 093 262 974 The Trustees consider that the MpanY is entilled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ('the Act") and members have not required the Company to obtain an audit for the year in question in &cordance with section 476 of the Act. The Trustees acknowledge their responsibilities for CA)mplwng with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These acounts have be8n prepared In accordance with the provisions applicable to Companies subject to stllall companies, regime. The financial statements were approved by the Trustees on . . And signed on their behaff, by: P Savage Chair The notes on pages 1110 18 form part of these financial ststements. Page 9
LEARNING AND COMMUNrrY SPORT @WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Noto Cash flows from operating actSvitl¢s Net cash provided by operating activities 16 63.794 7.850 Cash flows from Investing activities: Purchase of intangible sssets Net cash used in Investing activSties Change In cash and cash equivalents in the year Cash and cash equNalenls brought forward (63,794) 20,589 7,850 12,739 Cash and cash equlvalents carried forward 17 20.589 Page 10
LEARNING AND COMMUNITY SPORT @ WORLE TRUST IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES Basls of preparing the flnancial Statements The financial slalements of the charilable coThTrpany, which is a public benefit enlity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charilies.. Statement of Recommended Practice 3pplicable to charities preparing their accounts in accordance wlh Ihe FinanGial Reporling Standard appltcable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015),, Financial Reporting Standard 102 'The Financial Reporting Standard applicaLle in the UK and Republic of Ireland, and the Compan$ Act 2006. The fin8ncial statements have been prepared under the historical cost convention. Income All income is recognised in the Slaternent of Financial Aclivilies once the charity has enlIeMent to the funds. it is probable Ihat the income wi.1 b8 receNed and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing Ihe charity to that expenditure, it is probable that a Iransfer of eo)nomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendi"ure is accounted for on an accruals basis and has been classifiee under headings Ihat aggregate all cost related lo the category. Where costs cannot be direcdy attributed lo parttcular headings Ihey have been allocated to activilies on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provKJed at the following anniial rates in order to lte off each asset over its estimated useful life. Plant and machinery Computer equipment 20¥0 straight line 25010 Straighl line Taxation The charity is exempt from cOrporatn lax on its charitable activities. Fund accounting UniestriGted funds can be used in accordance with the charit3ble objectives at the discretion of the trustees. Restricted fur)ds can only be used for parti(18r restrict purposes wthin the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purposes. Further eXplanatn of the nature and purpose of each fund is inckjded in the notes to the financial Hire purchase and leasing commitments . Rentals paid under operating lease5 are Gharged io the Slatement of Financial Activities on a slraight line basis over the period of the lease. Pension costs and other post-retlremont bonefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable companys pension scheme are charged to the Statement of Financial Actimties in the period to which they relale. Page11
LEARNING AND COMMUNrrY SPORT @ WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 INCOME FROM CHARITABLE ACTIVITIES Unrestrlcted funds 2024 Restricted fund5 2024 Total funds 2024 Total funds 2023 Sports and community centre 791,611 11 648 225 INVESTMENT INCOME Unr06tri¢ted funds 2024 Restricted funds 2024 Tolal fund5 2024 Total funds 2023 Bank interest 108 30 ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE fYpE Other costs 2024 Staff costs 2024 Depreciation 2024 Total 2024 Total 2023 Sports and comtniJnity centre Governance 327,896 2.082 521.623 851,600 659,351 327 896 2,082 521 623 851,600 659 351 ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES Activities undertaken directly 2024 Support costs 2024 Total 2024 Total 2023 Sports and community centre 377,023 474,577 851 600 659,351 Page'2
LEARNING AND COMMUNITY SPORT @WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 DIRECT COSTS Total 2024 Total 2023 Instructors fee W8ge5 and salaries National insurance Pension Facility hire 49,128 313,594 13,124 1,178 52,403 223,969 7,690 1,098 377 023 285,160 SUPPORT COSTS Total 2024 Totsl 2023 Prinling. postage anc stationary Telephone and computer costs Advertising Legal and professional fees Rates Light and heat Other premi8es costs Repairs and m2inlenance Donations Travel and subsistence Vending and café slocklconsumables Equiprnenl costs Training Sundry expenses Bank charges Loss on disposal of red assets Depreciation 35 25.372 196 26.136 8,147 145.197 58,368 29,695 2,029 18,731 788 18,600 6,332 42,905 68,766 43.217 74.333 91.651 50,378 111,803 8,479 4.885 7.405 3,237 2.082 474,577 374,191 Page 13
LEARNING AND COMMUNITY SPORT @ WORLE TRUST {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 NET INCOMING RESOURCESI(RESOURCES EXPENDED) This is stated after charging.. 2024 2023 Depreciation of tangible fixed assets: owned by the charity Independent examinatior) fee 2,082 2,160 During the year. no trustee received any remunera:ion (2023. £NIL) During the year, no trustee received any benefits in kind (2023- £NIL) During the year, no trustee recejved any re.mbursemenl of expcnses (2023.. £NIL} STAFF COSTS Staff costs were as foll0v.. 2024 2023 Wages and Salaries Social security costs Pensions 313,594 13,124 1.178 223,969 7,690 1,098 Total 327.896 232,757 The average number of persons employe(i by the Gomp8ny dufing the year was as follows: 2024 No. 2023 17 No employee received remuneration amounting io more than £60.000 in either year. Pase 14
LEARNING AND COMMUNITY SPORT @WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 10. TANGIBLE FIXED ASSETS lrnprovement$ to Property Plant and machinery COST At 1 September 2023 Additn5 Disposals At 31 August 2024 308.650 21,OSD 10,408 308,550 31,45B DEPRECIATION Al 1 September 2023 Charge for year Disposals Al 31 Augusl 2024 21,050 2,082 23,132 NET BOOK VALUE Al 31 August 2024 308.550 8,326 Al 31 August 2023 308 550 11. DEBTORS 2024 2023 Trade debtors Other debtors Prepayments and accrued income 54.443 14.580 1,673 1.673 16,253 Page-5
LEARNING AND COMMUNITY SPORT @ WORLETRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other credilors Accruals and deferred incorne 73,130 2,160 39,262 2,160 75 DEFERRED INCOME Deferred income al 1 September 2023 Amounts released from previous years Resources deferred during the year Deferred income al 31 August 2024 13. FINANCIAL INSTRUMENTS 2024 2023 Financial assets measured at fair value through income and expenditure Financial assets measured at amortised cost 387.705 44,857 387,705 44,857 432 562 Financial liabilities measured al amorlised cost 2,160 2.160 Financial assets measured al fair value through the income and expenditure comprise of cash at bank and in hand. Financial assets measure at arnorbsed 9t comprise of accrued income and trade debtors. Financial liabilities measured at amortised costs com)rise of trade cree.itors and accruals. Page 16
LEARNING AND COMMUNITY SPORT @ WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 14. STATEMENT OF FUNDS Brought Fornard Transfor8 inloul Carried Fonvard Income Expondlture UNRESTRICTED FUNDS General funds 262,974 791.719 (851.600) 203.093 Total funds 262,974 791,719 851.600 203,093 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlcted funds 2024 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 316,876 91,278 (75,290) 308.550 36,842 (41,423) 332.864 16. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the year {as per St8tement of financial activities) {59,881) (11.0971 Adjustment for: Depreciation charges Decreasellincrease) in deblors Increasel{decrease) In creditors 2,082 {39,863) 33,868 24.100 (5.153) Net cash provided by operating actlvities 63,794 7,850 17. ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank and in hand 35,162 20,589 Page 17
LEARNING AND COMMUNITY SPORT @WORLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 18. OPERATING LEASE COMMITMENTS As 31 August 2024 the tolal of the Charity's fulure mir,irnum lease payTnenls under non-cancellable operating leases was= 2024 2023 AMOUNTS PAYABLE: Within 1 year Between 1 ané 5 years 11,760 2,199 11.760 2.199 Total 19 CREDITORS: AMOUNTS FALLING DUE AFTER MORETHAN ONE YEAR 2024 2023 Other loans 129,771 40,995 129 771 40,995 Page 18