Charfty reglstratlon number 1149697 Company reglstradon Nmber 08107118 (EngI￿d and Wal￿) RECREATE DORSET ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 RECREATE DORSET LEGAL AND ADMINISTRATIVE INFORMATION Trustees Angela Pooley Pamela Donnel Cfm Thoffos M&taAmes James Day Evrd Zabarylo Kwoiina Bfvj inate Angel 8oateng (Appointed 30 Octobgr 20231 (Appointsd 30 October 20231 (Appotnted 30 October 2023) (Appointsd 30 October 20231 (W.nted 30 OGtDber 2023), Charfty numbef 1149697 Company number 08107118 ReglstsRd office Old School H Gladstone M BH7 68G Independent Examlner Ro•Aands Webster Linuied Austin House 43 Poole Road England BH4 9DN RECREATE DORSET CONTENTS th￿rnian¥ statsmerrt Independent examinets repart Slatement of T￿￿K[al acbvities Balance sheet 10 Notes to the fjnwKial st*ments RECREATE DORSET CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The 2023r24 year has seen a period of stsbllity and gro%Mh for Recre*e t)orset, locusslng Its work at the community hub, The Old School House trosHI, where the Tnjst prowdes a full programme af community &tivibes with target vulnerable groups and delivers support for the creative sector, through the provision ol the ¢work space, business support programmes and start-up packages. The Trust now deliver5 five main community programmes providing free creative aGt4vlties at the hub, dl of which have been runnlng at full capacity in 2023-24, reaching some of the most marginalised communities in Boscomb8. In 2023 the Tnjst launched its new Cfe81ive and diuitd sbills pragramme, Open School Creative IOSCI, SUPPOTting emerging and established creatives looling to increase their business thlls and discovor more about opporbjnities available to develop a successful crealive enterprise. The expansion of our skills and tralning programme$ has seen OSC be¢cmg a su¢¢essful networknng 8nd skilts-sharing hub, where digital and creative businesses come togother to share resources, leam from one another budd knowledge and contacts to further their business. Major new developments at the hub In 2023124, included the exciting plans to design, build open the Trusvs new communty garden, Thg Orchard Garden. Developed with support from many volunteers. loca residents, memb￿5 of th8 communty workshop programmos and refugee and asylum seekers who are part of the Seeking Refuge projecL the space has been completely transformed as a community resource, growng native plants, herbs, fruit trees and bushes. The garden has opened up new possibilities as a space for everycne to use ar*J enjoy as well a% an important addilional hireable space complementing our newly refvrbished intemal spaces, the Assembly Hall, Atrium and privats meeting rooms. The complotion cf our heating project in March 2024 has also meant the Trust ￿ now offer the hub as a funclioning spoGe throughout the year and we know this is a welcome addition, particulady for our older and more vulnerable pa￿cIpants in the colder winter months. The Trust is very grateful for the Gontinued support from Trusts and Foundation to help both with the Gapilal developments and the delivery of the community programmes. Grants have made possible the community garden, the inclusion of the new centr81 heating, the extension ofthe business SUPPOrt programme and the expansion of ourweekjy CoMr￿nity WOTkshop& The Trust expanded staff in 2023r24 with additipnal hours to ueate a new role for our CommuniGatK>ns and Marketing aclivity. This supports our current Comms role, who rebjmed from maternity leave on reduced hou￿ The Trusys DirectrJr and Community Coordinator (the latter funded through a 5-year grant from Lottery Commuri Funds) continue as part-time hours. The staff and TNstees are supported by an accountsnt who has continued to provide finanoal advice and prepare quarterly management and annual accounts. Addtbonally, the Tn￿ engages many freelancers who delNer the Community programme. Al the Trusvs work is supported by a te8m of volunteers whose invaluable help, makes much of our work p0S￿ble. In 2024, the Trust has ¢onlJnued to concentrate its key aclivlties on supportlng of the alms set out tn the mem1)￿dum and Articles., 11 The cre8tion of training and employment opportunities by the provision of workspace. buildings, andlor land for use on favourable terms., and 2) to develop the Capacity and skjlls of the members of the socially and economically disadvantaged community of Boumemouth and 5urrDunding area in suth a way that Ihey are better able to Identify. and hèlp meet their needs and to parttcipate more fully in scciety. Chalrman RECREATE DORSET TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present thelr repgrt and finan¢lal Statements for the yeer ended 31 March 2024, The dlrèetsrs of thè charity are its trustees for the purpose of charity law. The financial statements have been prepared in accordance wlth the aGGounttng policles set out In note 2 to the ilnanGial Statements and comply the charity's Igoveming documenti, the Companies Act 2006 and"Accounting d Reporling by Charities.. Statsment of Recommended Practlce appllcable to charfties preparing thelr accounts In accordance with thg Fin8naal Repgrting Standard appllcable in the UK and Republbc of Ireland (FRS 1021" (effective 1 January 20191. Introductlon The Trust canllnues ta work towgrdB its overall vislon to see 'a Sustslnable Boumemouth whlch has thrlvlng, Ineluslve ￿mmUnItIeS In whl¢h all groups have a vol¢e', The Trust Is commltted to make a18sting and worthwhila dlfforence to the over￿1 quailty of Ilfe In Boumemouth. It wlll conlnue to a¢hlevo th1$ through path?rship worhing and by generating or raising fvnds to Invest In proJects whlch benefft the most vulnerable and d8prlved end those not achlevlng thelr full potsntial Th6 charws objects aro: 1. The promollon for th• bènefit of thè publlc of urban or rural regeneralon In area8 of 80clal a)d economEc deprivatlon and In parucular In eoumemouth & 8urroundlng areas by all or qny of th• followlng mgan& (a) Tho ¢r•ab'on of tralning and omployment opportyJnftle8 by th• provldon of work•p•¢•, bulldlng•, andjor land for u$¢ on favour4blo tsmi•; (b) Thè proVE￿On of houslng for th080 who ar& In condlllons of need and th6 Improvement of houslng In thfr publlG 8ectOf or In Gharitable DwnerBhlp provlded that luch power shall not extend to rellevlng any looal authodtleg or olher bod1￿ of a •tabJtory duty ts provldg or Improve hou8lng', (c) Thè sKotscUon or consarvalon of tha envlronment and the prudent use of re89urce8', 2. To develop the capaclty and 8kIlls of the members of the Soclally and economlcally dl8athntaged communlty of eoumemouth and Surrounding area in such a way that they ere better able to Idenlfy, gnd help meot, Ihelr needs and to pgrtklpate more fully in soGioty. 3. Suth charftsble purposes for the publ1¢ benefit a8 arg exclusively charftsble accordln9 to the laws of Engl￿d and Wale6 ao the tru8t8e8 may from Ime ta time detemilng. The Buslness Plan Is regulady revlewed and the board receive8 updates on key 8cllvblles at each Trustee meelng from th8 Director, with an annual summary of progress at the end of tho year. Publlc bonallt The pdoritles and objectivos of the Trust are dlgned wlth the ¢har¢tsbl8 objects of the organlsalon wrthln th8 p18n to ensure that all resource$ are 8pproprfately used. Al now and existing proje¢ts arn evaluatsd agalnst the Trusfs prioritle4 charltable objects described above. The Trustees have complied wlth thelr duty In 8e¢tron 17(51 of the Charttte8 Act 2011, havlng due regard to publlc benefft guldance published by the Charity Commisslon. RECREATE DORSET TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aetlvllltes and Pf4ects 2023-24 Flnanclal Year The Old School House, Boscombe TOSH provtdes a muchThneeded accessble c¢mmunity spaco in an 8rea ot multiple deprivatian. Alonggde the hub space the Trust also provides 11 share ownership properties for Ioc81 pegple on low in¢omes, as well as a commurity garden and allotrnen( all open to our local community ta use. Each year the Trusfs engagement programme SUPPDrt5 1,000's of loGal people from the many diverse communibes based in Boscombo who comfr to TOSH trJ attend workshops, events, language classes, exercise classes, onevto-one suppcrt and advksory sessions. The programm8 81so offers signposting to help people access other support and resourGes in the area. TOSH welcomes over 10,000 visitors to the site each year. The priority for support for the community programme focuses on worlqng with p?Dple In recovery, thuse struggling with poor health, the elderfy and young families on low income, and refvgees and asylum seeker5. Aongside the community programme the Tnjst provides slalls and business support for the developing creative and digital sector wth activities to ¢)ffer small Greative businesses inclu(fjng In￿bator space, cwork and hot desk facilities and buslness support and nthorking events, workshcps, 1-1 and group traning. TOSH was orignally part of a former education centre, which remained derelict and unoccupied for ye8rs. The Ewdding wa5 gifted to the local community as a place of leaming by the family of the poet Pew Shelley and formed one of the first public schoDIs Dpened in the County. Set up as the Boscombe Britssh and Foreign School it canied ￿tthe work of a young Quaker named Joseph Lancaster who founded his first school in Southwark in 1798. The school was set up to prDvide education for 'the industrious classes,. As the school moved to larger premises, the building became the award-winning Bournemouth Drama Centre, where former pupils included choirmaster and broadcaster, Gareth Malone and fashion designer Graham Fraser. Although a large part of the criginat builthng was demolishpd, in 2014 through a pathership with Boumemouth Council and supported by EU fvnding, the Trust saved the remaining grade listed building, and built 11 share ownership properties for loca people cn low incomes on the same site along wth a community garden and allotment It therefore has a signif￿ant cultural and historical place to play wthin the Identity of Boscombe and tts architethrai heritage story. Gladstone MwrJ The Trusfs 11 Share ownership properties con1inue to offer local people on low incomes 65% ownership of their homes. with the opportunty to staircase to a maximum of 85%. Most of the residents have been in Ihe properties since they were first built in 2014, wth a few movtng on to larger properties as their families have expanded. There are 9. 2-bed properties. 1, 3-bed propety and 1. adapted property. The land surroun(llng the properties is in the ol￿e￿h1P of the Trust which includes the community garden and 811otment space. Communlty Programffle and Partnershlp Projects 2023 - 24 The Trusfs CDmmunity programme continues to develop new partnerships and projects, expanding the work the Trust undertakes supporling the most vulnerable and marginalr4ed residents in the local cOMr￿nty. The programme is funded independentIy from grants from Trusts and Foundations, 8nd all the activities are provided free wilh several also offering a free hot mea. The meal is important in helping to bring the communities together. builthng stronger bonds and connections betsveen the particip8nts, many of whom are very isolatsd and due to poor health. spend considerable time on their t)vm. The paitcipants ￿POrt very po$￿VelY 1hat TOSH 15 a place where they feel welcomed, and where they make new friendships whi18 enjoying a Greative aGtivity which helps with their mentsl health and well-being. 'Thursdays have become my favourite day, I forget everything, we le8m in a fun and Gomfortable way, irs an important aGtivity for my mental health, l enjoy it a lov, 'it is an excellent activity that keeps the mind occupied and unleashes creativity and individu81ity., The workshops are so welcoming and Indusive, ¥Èd they have helped me feel safe and able to get involved. .'Coming to TOSH has done so much for my confidence and grown my so￿al skills for1he first time in my life. My mental health has impraved so much: fresh air and exerclse in the garden helps me feel younger and happier.. RECREATE DORSET TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Comnwnlty Programme Indudes the foll(vAng wdeets In 202344: The OTchaTd Garden Funded fmm Pewe's Heallh Thisl WesrAex ￿thr. Boumemouth Coastal Lottery and 8CP Councll. Inlllally a 2.year comnwnlty proje¢( Nnnlng from 1 Decemlw 2022- 31 Dewnber 20X Addl11¢￿al lundlng from StartMKks and Soverelgn NetI￿rk Group *lll alkyw the prO￿t to ¢ondnue In 202& Involvlng ovor 200 lo¢￿ people in the des￿. Lwild and rAantirvJ of the garden, including al our communlty wup4 asylum seekers and refugees, the Polish eldety Comff￿nty, faMi￿eS from the Mews and Ioc81 rosidonts living In and around the sits. M￿h of aCti￿ty in 2¢f23r24 h* been the strucbjrd build of paths, the sunken sealng ¥ea and planting oftrees, fnjit bushes and native flvwers. Volunteers meet eath weekto mantsn and m￿age the garden. A monthty programme Df workthops. school events and eomnwjnty sessions on gr (Resigned 30 October 2023) (AppclTrted 30 October 2023> (Apwinted 30 Othber 2023) (Appc4ntsd 30 October 20231 (Appcqnted 30 0(aaber 21Y23) (Appointed 30 October 2023) None of the trustees has beneficlal intsrest In the ￿. Al ofthe bwsteos menl)ern of the company warantee to ¢ontribuie £1 in tho went of a winthg up. The ste8s' raport was apwoved by tho Bowd of TnAt8e8. Chrb8 Thomas Trust•• RECREATE DORSET INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RECREATE DORSET I repDrt to the trustees on my eXa￿￿natIon of the financial statements of Recreate Oorset (the charity) far the year ended 31 March 2024. Responslbllltles and basls of report As the trustees of the chaiity (and also its olrectors for the purpose5 of Gompany lawl you are responsible for the weparation of the financid statements in aCcOrda￿e with the requirements of the Companies Act 20C6 (the 2006 Having satisffed myself that tlio financial statsmgnts of the charity 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 tharity's financlal statements carried out under section 145 of the Chaities Act 2011 (the 2011 Act). In carrying my examination I have foll¢)wed all the applic*le Direclions given by the Charity Commisslon under section 145151{b) ofthe 2011 AGt Independent examlnefs statement I have completed my examination. I confirm that no matters have come to my attention In ¢onn8¢tlon Mth Ihe examination givin9 me cause to believe that in any materi81 respe¢t a¢MUn￿ng records were not kept in re$peGt of the tharity as required by section 386 of the 2006 Act, or the finèn¢lal statements do not acGord with those records; or 3 thg finan¢ial statements do not comply with the accounling rewlrements of sedion 396 of the 2006 Act other than any requirement that the accounts ghe a true and far view whlch is not a matter considered as pgrt of an independent ex8mination', or the financlal stat&ments have not been prepared in accordance with the method8 and princlple8 of the statement of Recommended Pradce for a¢¢ounllng and reporting by chafities applicable ta charities preparing thelr a¢¢ounts In accordance with the FlnanGial Reporting Stsndard applicable in the UK and Republic of Ire18nd {FRS 102). I have no concems 8nd have come across no other mater8 in connection wlth the examlnalon to whlch attenuon culd be drawn in this report in order to enable a proper understandlng of the financ481 ststements to be readied. Rowlands Webster Llmltsd CTA FMAAT Arr(Fellow) Austin House 43 Poole Road Boumemouth Oorset BH4 9DN Englanfl Oatsd:......................... RECREATE DORSET STATEMENT OF FINANCIAL ACMVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted funds nds 2024 2024 Total Jnds 2023 nd5 2023 Donations and legacles Charitable activtties Inve8trnents 24.882 47,452 4,308 116,170 24,374 141,032 71,828 20.823 32,808 44.987 23,948 85,810 56.754 1,235 Total Income 76.ff22 140,544 217.1e6 54.868 68,933 123.799 Expend1￿1• on: Charitable aclJvlOe6 125.030 207,259 69,2 58,488 127,765 Total expendlturn 82,229 125.030 207.259 69.2TI 58,488 127,765 Not Incom￿(0X￿dI￿1*l (5.607) 15,514 9,907 (14,411) 10.445 (3,968) Transfers between firnd6 (7.000) Net movomont In nds 1,393 8,514 9,907 (14,411) 10,445 (3,968) Racondllakn of 141nds: Fund ba18nce8 at1 April 2ry23 118,815 747,823 ee4,438 131,026 737,378 868,404 Fund b￿aTr¢￿ at 31 Marth 2024 118.008 758.337 874,345 116,615 747,823 8e4,438 The slatem•nt of flnandal IndUd￿ al and lows r•¢owl8•d In th• y•ar. All Inc¢)mo and 8xpendlur• d¢dve from ¢onllnulng aclvMo& RECREATE DORSET BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Flxed assets Tangibt? assets 10 676.870 e89,070 Curmt assets Debto Cath at bank and In h￿d 11 11.471 321.099 9.036 329.819 332,570 338,855 Credltors.. amounts falllng due vAthln one year 12 (135,095) (163,487) Net ¢urMt assets 197.475 175,388 Total assets less current Ilabllllles 874.345 884,438 N¢1 amets exdudlng pens1(￿ Ilablllty 874.345 8e4,438 Th• fvnds of th• charfty Reth¢tsd Income fund8 Unrgstrlctsd funds 14 756,337 118,008 747.823 118,615 874,345 864,438 Th6 55 enolad ta tho exerrpdon from the audlt rowtr•rr*rt ¢ontak)ed In 8e¢Oon 477 of th• Cofflpanl•g Act 2008, for Ihe year ended 31 Marth 2024. The d'rector8 8cknovAodge thdr re8ponsibililies for comptylng wlth the requhm•nts of tho Corr¥J*)108 Act 2008 wlth re8POCtto accounllng ree¢)rds and the prepwall*)n of finandal stat•m•nts. The men*Jern have not rn¢wlred the to obtan an audlt of its financlal *tsm•nts for the y•ar In que8tlon In acCorda￿e Kdl¢)n 476. These financlal statsments have boon in acurdance with tho ￿lS1onS applicable to comparugs subjp to the small cowpanles r￿¥M8. Th arKlal Statsments were apwoved by the trustees on ......................... Chris Thomas Trustee Conwy re￿tion number 08107118 {EngI￿d Wales) 1Q- RECREATE DORSET BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 Crlllcal ￿OUn￿l9 estlm*s ￿ Judgenmts In the ￿￿iCation ofthe charitys ￿Unting poliaes. Ihe tnjstees are rewired to make iidgements estimates d assuirptions about the anount of a55ets ￿d liabililies Ihat are not readily apparent from other sources. The eslimates and associatsd assunpti￿s ¥e based on historical experience other faot(Jrs that e Gonsrdered to be retevant Acbja resutts rfrferfrom thesg eslimate The estimates and underfwng awmptions ¥e reviffwed on ￿ ongoing basi& Reviwons to accounling estimates are reCO￿lsed in the k)eriod in which the eslimate is revised where the revision affects that period, or in the period of the revison fubjre periods where the reVi￿an affects btth cuttent and fvbjre period5. AccountlThJ Wlcks Charfty Informallon Recreate Dorset Is a VNate cor￿￿)Y Kn¥tsd by incorporated in Endand and Wal¢s, Th? reG4Stered offKe Is Old S¢hool House. &adst¢￿e Mew4 Boscombe, Btyjmemouth, Dorse( BH7 6BG. 11 Acwuntlng wNenllon The finanoal Statements have been prepared in tho ¢hJitys tgoveming documentl, the Companies Act 2006, FRS 1(Y2 Yhe Finanaal Reporting Standard 8ppli¢able in the UK Republic of Ireland. ('FRS 102°) and the char￿eS SORP "Puounting and Reporting by Charttes: Statement of Recommended Pracfi¢e ap￿￿able to thwities prying th*r x¢ounts in accordance with th8 Finan￿8[ Reportrng Standard appI￿able in the UK and RepubfK of Irel￿d (FRS 102r (effective 1 Januwy 2019). The charity is a Public Benefft Entity as defined by FRS 1(r2. The ha8 taken ad¥*ge of the pr￿Orts In the P￿RP frx charitres not to a Statsment of Cash Flows. The fin8ncia statements are prep¥ed in sierfmg. vthlch Is the funcllonal ¢urrerw of the ¢h*Tty. Monetsry amourts in thes@ fin￿1* statements are rounded to the nearest£ The fin8ncia statemerrts harfe been prepwed under the cost convention. The prffKip4 ￿)untIng polictes adopted are set out below. 2.2 Golng coneem At the timo of approving the finana81 Statem￿ the Iwstees have a reason*Jle expectation that the ch ha5 adewats resources to conltnue in ¢4)eration￿ exi5tsnce for the foreseeable fubjre. Thus Ihe trustses ontiThJe to adoptthe going concem basis ot xcounting ￿ wwng the finwKial statement& 2.3 Charltalkn funds Unrestricted funds ¥e avail*e for ￿ at the thscrelion of the trustees In furtheran￿ of ther Charitable objectives. Restricted funds are subject to Spe￿ c(Jnrfrfions by donors or grantors as to how they mvy bo used. The purposes and uses ofthe restricted funds are set in Ihe notss to the finaKial statemen Endowment funds are gJbieGt to speafic condilions by don¢xs that the capital rrust be malrtaned by the charity. 2A Income Income is recowised when the charity ts legally en1illed to il after any perforrn￿ conati¢Jns have been met, the amounts can be measured reliabty. and it is probthe that income wll be received. 11 RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢counllng pollcles Icontlnued) Cash donatlons are recognised ¢Jn receipt Other donations are recognised once the charity has been notified of the donalion, unless perfom)ance condtions rewire deferr81 of the amount. Income tay recoverable In relation to donaltons received under GiftAid or deeds of covenant Is recowi5ed at the time of the donation. Legacles are reGognised on receipt or othe1v￿se if the charity has bw noofied of an Impendlng d￿]bUtion, the amount is known. and receipt is expected. Ir the amount 15 not knovm, the legacy Is treated as a contingent asset 15 E￿dI￿re Expenses are induded in the financial slatsments as b￿Qme receiv￿￿8 or due. Exwses indude VAT where appl￿￿8 as the company cannot redaim it Z6 Tanglble fixed assets Tangible frAed assets are initiaty mea￿d at cost and **Eequenty measured at cost or vauati(Jn. net of depre¢iation and any Impalm￿nt losse& DepreGiation Is reGognrsed so as to ￿lIe 14fth8 Cost or vthation of assets less thelr resldual values over their useful INes on the followng baseg Freehold land 8nd buil(fins Plwrt and equipment TA Sts￿t line basis 25￿3% straI￿t line basls 25%- 33% stratht line b￿S Th& gain or loss ¥istng on the thsposa of w asset is delernkned as the (*fferen¢• betsveen the sd proceeds and the c•rying vatue oflhe assel and is recowised in Ihe statement Df financtal athmes. 17 ImpalrnRnt of axed assets At gach reporting end date. the re￿•W8 the C￿Ing amwnts of Ets kngble assets to dat￿nIng whether there Is any inth¢ation that ttlose assets have suffered an irrpairment loss. If any such Indtatlon exists, the re¢over*ie amount of Ihe asset is estimated in order to determtne the extent of th¢ impairment loss (rf 8ny). 18 Cash and cash equlvalents Cash and cash equivalents indude cash in h￿d, depo* held at caj with ban14 other short-term li¢wid investments with orignal matyTities of Ihree months or less, b￿k overdrats. Bank overdrafts are shown within borrowings in ujrrent liailities. 19 Flnanclal Instruments The charity has ejected to apply the W￿lS1Or￿ of Section 11 'Bastc F￿￿c481 Instwments. and Seclii)n 12 'Olher Financial Instruments Issueg d FRS 102 to all of finaKial instruments. Fin￿al inslruments are recognised in the chari￿S b￿8￿e theet when Ihe charity becomes p*ty to the contr8cttJal provisons of the instrumgnt Fin¥Jctal assets fi&*ilibes are off5e£ with the net amDLmts wesented in the finanoal statemerrts. when there is a legally enforceable right to set off the recognised amounts &KI there is an intentson to setue on net basis or to redise the asset setsle the liabilty sinwtianeou*. 12. RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng polkles (Ccnllnued) Basic finawal assets, whth indude debtors and cash balances, 8re Inffa￿￿ measured * trrnction price indu￿ and bank loans are initialy recognised at tr8rtsxtion price unles5 the arrangemerrt constibJtss a firrdnc4ng trarts&tion. where the debt instrument is measured at the present value of the fv￿re payments disc￿nted * a mtht rate of intsresL Finan￿* bi*lliti8s dassified as payable within one year are not amorbsed. Debt instruments are subsewenty cwried at amortised cos( using the etstrrfe iftterest rate method. Trade crethrs are obligation5 to pwi for goods or services that have been acquired in the orthn8ry course of operati¢)ns from suppliers. Amryjnts payable dassified as curent liabil￿eS if payment is due within one year or less. If not, they are presented as norFcurrent liabilities. Trade Crefkn are reGogni58d initially at transaclion price and sth8quenty m&*ured at amorlised cost u￿9 the effeclive Intsrest method. Finanaal liabilrfies we derecogniqed when the ch￿S contracbjal obtigalions exptre or we dtscharged or cancelled. Income from Chatllalkn acllvltles Unrestrleted Restrfcted fund5 funds 2024 Tolal Un￿$trkted Restrlcted nds funds 2023 Headlng #ac989 Sales within charitable activittes 47.452 24,374 71,826 808 23,946 56.754 Donath)ns and legacles nds nds funds 2024 2W23 21Y23 Grants received and released 24.862 116,170 141,032 20,8fJ 44,987 65,810 -13- RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investments Unre5trlcted Unrestricted funds "fvnds 2024 2023 Interest received 4,308 .1,235 Charftable actlvltlos Charltable Charltable Expendlbjre Expendlture 2024 2023 Depreciation Charltable expendlture 12,276 194,983 10,100 117,665 207,259 127,765 207,259 127,765 Analysls by fund Unresthctsd funds Restrictsd frJnds 82,229 125,030 69,277 58,488 207,259 127,765 TNstees None of the trustses lor any persons eomected wlth them) received any remuneralon or ben¢fits from the charity during the year. Employees The average monthly number of employees ¢kning the yearvM& 2024 Number 2023 Number Total There were no emplayees whose annual remuneration was more than £60,000. Taxatlon Thg charity is exempt from tsxation on its activities becwse all its inGome Is applied for charitable purposes. 14- RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 T￿ltsIe fixed assets Yotal bulkfjrvas equlprnenl At 1 Aprfl 2023 Additi(Jns 768.968 6225 8,135 471 781,328 471 At 31 Marth 2024 768,968 6.606 781,799 Depreclatlon and ImpalTment At 1 April 2023 Depreciation Charged In the y 81.358 11276 4,676 92,259 12,670 At 31 March 2024 93.634 5.070 104.929 Carrylng amount At 31 MgJch 2024 675.334 1.536 676,870 At 31 Mwch 2023 687.610 1,460 689.070 11 Debtors 2023 Amounts falllng due *lthln ¢)ne ￿. Trade debtors Prepayments and x¢rued Income 9.500 1,971 7,888 1,148 11.471 ,9,036 12 Credltors: amounts falllng due ￿thIn one ye 2024 2023 Olher ￿allOn and social Deferred income Paymerrts received on ￿aUnt Trade (xethtQf5 Other credtors Accruals deferred income 2,244 123,827 3.465 13 155,952 2.030 1.089 5,108 3,480 135,095 1S3,487 -15- RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Deferred lftcome 2024 2023 Arising from Grants 123,827 155,952 Deferred income is Induded in the financid statemerts a5 follow¥. 2024 2023 Defe￿ed irtcome is included within: Current liabilities 123.827 155.952 Movements in the year. Deferred income at 1 April 2023 Released from previous periods Resources deferred in the year 155,952 {151.9021 119,7TI 80,344 158,319) 133.927 Deferred irKame at 31 March 2024 123,827 155,952 14 Restrlctéd funds The restdcted fund$ of the Chadty comprfse the unexpended balance8 of donation8 and grants held on trust subject to specific conditions by donors as to how they may b8 used. At 1 Aprll 2023 Incomlng resource5 Resources expendod Transfers At 31 March 747,823 140,544 (125,030) (7,000) 756,337 Pr•vlous year: At 1 Apill 2022 Incomlng Resources resoUr￿S expended Transfers At 31 March 2023 737,378 68.933 158.488) 747.823 Is Unreslrlcted funds The unrestricted fvnds Df the tharity Comprise the unexpended balances of donations and grants vhuch aro not subjectto specffic conditions by donors and grantors as to how they may be used. These inGlude desiwated funds which have been set aside aut of unrestrlctsd funds by the trustses for specifio purposes. At l Aprll 2023 Incomlng Resources tesource5 expended Transfrrs At 31 March 2024 General funds 116,615 78.622 (82,229) 7,000 118,008 16- RECREATE DORSET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Un￿StrICted ￿ndS (Contlnued) Prevlous year: At 1 Aprfl Incomlng Resources Transfers At 31 Marth 2023 Generd funds 131,026 54,886 (e9,277) 116,815 16 Analysls of net assets bet￿￿1 funds Unrestrlctad Restrlcted funds lund5 2024 2024 Total 2024 At 31 March 2024: Tangible assets Curront asSgtsl{li8bil￿eSI 1,535 116.473 875,335 81,002 676,870 197,475 118,008 756,337 874,345 Unrestrlcted Restrfcted Iunds lunds 2023 2023 Total 2023 At 31 March 2023: Tangible assets Current as5etsl(liabilities) 1,460 115,155 687,610 60,213 689.070 175,368 116,615 747,823 864,438 17 Related party transactlons There were no (fisdosable related party tr￿￿aCtIOnS durlng the year (2023 - none). 17-