We are pleased to enclose your annual accounts.
REGISTERED COMPANY YUMBER- 08227390 (England Wales} REGISTERED CHARITY NUMBER.. 1150892 Lightwaves Communlty Trust Report of the Trustees and Financial Statements Year Ended 30 September 2023 SMH Jolliffe Cork Lid Chartered Accountants 33 George Street Wakefield Wesl Yorkshire WFI ILX
Lightwaves Community Trust
Contents of the Financial Statements for the year ended 30 September 2023
| Page | ||
|---|---|---|
| Report of the Trustees | to7 | |
| Independent Examiner's Report | 8 | |
| Statement of Financial Activities | 9 | |
| Balance Sheet | 10 | to11 |
| Notes to the Financial Statements | 12 | to18 |
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Llghhwawe$ Community Tntst Rtport of the Trustees for the year ¢ndcd 30 Septernber 2023 The ttt¢S who ar¢ also directors of the ch2Tity for the purpoK5 of the Companies Act 20061 preseDt their Teport with thc financial staieTnent5 of the charity for thc ycar cndcd 30 September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Siatetnenl of Recommended Practice applicable io ¢hariti¢s preparing thcir acLounts in accordance with the Financial Reportitt¥ Sianddrd &pplicable in the UK and Republic of Ireland IFRS 1021 Icffcctivc l January 20191. OBJECTIVES AND ACTIVITIES Objectives and 95m$ The aisn of the charity is to providc the Te%idents of Wakefield district and the neighbourhood of College GTOVe and Pindertields with a thrivin¥ community-Nn facility for sport. Icisure, social and tommunity actiTritie5 to advancc thcir well-betng, health and prospects and to promote cohesiun within th¢ ¢VTnmunity. Charitable object The objects of the charity as outlined in the articl¢s of associatTon are'to further bcncfii rhe residents of Wakefield and elsewhcrc, without distinction of sex. sexual orientation. raLL L)r uf pvliliidl, Teligiou5 or oilier opit)ions by associating tog¢theT said rcsid¢nts and Ihc local authorities. voluntary and other or¥anisatiuns a Common effort to relieve poverty, advance educatson and 10 provide facililTres in tli¢ iDter¢sts of Social w¢ltar¢ and for rccrL'aiion and lei%uT¢ titne occupation with the ubjLLt of itDPToving condiiion5 of life tor thc Tcsidtnis" Public benefit aims And Intended impact The kLy bcnefit for the public has been Ihat Lightwavt5 Lei5UFe and Coinmuntty Ccntrc has been %ustained and remained OPLn and in business for the public and local ci>mmunity following the major challenges of thc pandcmic. The rLium tO'llOTmal' has be¢n a gradual pro¢cs5 bui thc Icsutmption of the full Tlill8e of activities has undcrlinLd ih¢ LcntTe's irnportanc¢ as a commurtily Cho[ PTovidill¥ s¢pJicc5 and support for local people. At this point in tirne. we aT¢ Still not at pre-covid IEv¢15 of incotne. nor opening hours. However. in thi5 peTiod the Trust bounced back to providittg a fijll rang¢ of Services and renewin8 Its reputation 45 a thTivillg community-rnn facility tliat hosts education and leaming activities, soclal and leisure pursuit5 as wcll as weltarc SLrvices that 5UPPOrt the most vulntrdblc and deprived ¢Tliz¢n5 and fatnilie5 in the community. As people have emeT¥vd from the pandcmic's impacts and deep social and e£onomic nceds havc been tevealed. th¢ Lightwavcs CLntrc lias proven its¢lf a vital tacility for &8SiSlin¥ familles lu navigate their way throu8h the impacts of the cost-of-living Significant ictivitie$ This riod marked a coniinuittg reiuTll to noTmal pattern5 of activity following th¢ period of transition from Covid-relarcd activTriies and funding via Waketield Council and the voluntary and comrnuniry sector. Centre usage norrnali5¢d and rcturncd to pre-palldernic l¢ve15. Lightwave5 TTUSI rctumcd to searching out funding for rhe CLmifL'S core and addiliottal aotivitl¢5. With a rctum to noTmality came a retum to large event bookings and progression io pr¢-pHnd¢rnic centrc use and venue lev¢15. In thc prcvious year Sunday opening was considcrcd bui d¢mand foT weekend usage rtmained confilled alld tOCU5sed on lar¥L Cvcllt bookings. Thus, tor the rime being the TTUSt b¢liev¢ that the case for opening all weekend rcmains w¢ak albeit the hope is that thc nomal buoking5 will rise to make this a viabl¥ option. DuTing the Covid crisis Lightwave5 cent becamc part of a system of local hubs delivcring scrvices to local communities cxpeTi¢ncing challenge5 to Ihcir physical, Lmotion31 and finallcial well-being. In thig period we built on the le¥ary of what wc Icarned and what Wa5 needed by local residents, and focuss¢d on serviccs tackling.. Money concems (budgeting. benefits, vouchers) Ertergy WOTries Ilielp with Utilities) Housing related concems (rent and accomjnodation) Job5 and Tclaicd issues (trainin¥ opportunities, CV help wi(h job applications) Health & family concems. Our apprvachable and tricndly staff 2nd volunt¢¢r5 at the hubs help people look at Ihcir situation and work with them to rind 501utions and take steps to itliprove tliings. A range of services and partn¢T5 and this is rccounicd below. Page I
Llghtwave$ Community Trust Report of ttEc Trustee5 for the ye9r ended 30 September 2023 Corc rcquests have been for printing food vouchcrs for familics which hclp rclcasc cxtra moncy for indtviduals and faillilies to pay their utilities bills. Indeed, higher energy bills ar¢ 50rnething that the Trust has also faced. with thi5 PL'riod s¢eing almost £50,000 increas¢ in heating and li¥hlin8 Costs ISLL page 19}. Below details of the Citizens Advic¢ Bureau and ihe Food Pantry aTe d¢$¢Tibed. Additioiially* th¢ Trnst has worked with.. Live WLII team attd theiT $¢Tvices for the oldLT people sLJvice8, Step Up organisation for employment help IPTovidence Stre¢VTowrt I lalll, Adult Education for training opportunitiedESOL Imanygateg CenlTel, Wak¢tiLld Collegc for adult & young pcople ESOL training, City of Sanctuary Foodbaiik & services (St Michaels Church). Art Housc Projccts tor rL.fugccs and asylum scckcrs, Ilepworth Gallery Projects for retugces and asylum secke, and AgL UK Wakcfield DistriLI ICastlLfordl for PLnsion hclp and older people services. During thi5 y¢ar w¢ were Successful in gaining futlg to provide a Wami Space for the ¢ommuniry over the winter pcriod. Our Warm Space provision not only allowed a warn1 and welcoming space but held rhe porential to contributc 10 5igniticant cliallges in people's quality of lite and 5UPPOrt positiv¢ social internction5. Tlie Warni Space PTOj¢Ct dLmon%trated a mixtur¢ of young people and adults acLessirtg our Ccntrc. Espccially on Fridays, wc havc sccn an illcrcasc in numb¢r5 attending the centre on using the 5poning activitie5. Plus, this project created the opportunity for our Cimire Staff to tell individuals abvut &iTvi¢es ort ot'fer as wcll a5 Sl8npostin8 them to Organisaiions in the communiry, and pethaps most imponant of all, providing 8 listening ear tor the adults who live on their own. One chall¢ng¢ in ihis peritrd been discovery of ¢vid¢nc¢ of frnud which is cUentlY bcing investigalcd by the auihuriliLs and has been tepvrtL'd 10 the Charity Commission. On advice and r¢sponse from the Charity Commission th¢ Trust ha5 tightened up its governance and control procedu5. We are tl%o working with partners such as NOVA to review and strengthen our governance and administrative procedure5 to prevent this ever recurring. The Trust will pursue any 1055es resulting from thi5 inctdent. The p05t Covid Tetum to Feel Good Friday5 became normali5ed and ¢ontiRues to be well-received by all.. Staff, voluniecrs and ihe local community. This iniriative has becn very wsitively received and helps make the centre even more accessible ro all the communiry, whLre we provide a tree lunch for the elderly. and witli 5POrts activities free for the over 60-year-old5 and local un¢tnploy¢d. as well a% asylum 4eekers and the refugee communiry. A¢tivities are half price for cvcrybody and activities such table tennis liave proven popular. The emphasis is on making the Centre welcotning and tca and cake made by local volunteers plays its part in prvvidin¥ a home-from-home fecl to the Centre on Feel Good Fridays. In 2022 the pandemi¢ initiative of the Lightwaves Foodb2nk had successfully evolved into a Lightwaves Food Pantry operation and where local citizens pay a £5 weekly subscription to gain approximately £40 worth of food and other houschold csseniials Iioiletries, eic.) Initially the Community Panry was open on Fridays and foTthi¥hily ort Saturdays 10 accomodate working members of the cornmunity however we Since July 2023 the Food Pantry is open every Friday. On avcrdge wc attract 3 to 4 voluntecrs supporting the Community Food Pantry Co-ordinator on Fridays, which is e5p¢cially hclpful for the sern'ice's functioning as well as appreciated by the Food Pantry mernbe for the kindncss. chLLkillg in and disCU5510ll5 about cookiDg tht variou5 ItTDS al th¢ sessions. Ea¢h st570n attracts 10 to 15 tnembe attending for tood and signposlin8 io services. Familtes attend we¢kly and itjdividuals fortni8hily. The paniry is laid out like a shop, and rnetnbeTS Lhoose their own items from a wide selection, intludirt¥ fresh. refrigcrated. frozcn and long-life foods. IThe latter depend5 on what 15 rcceived from Fayreshare plus donations.) Our Community Pantry Co-ordinator attends the WakLficld & District Food Aid Network and Househuld Funding Meeting5. We believe that the Food Panty has broader benetits, notably.. Enhancingy mcntal and physical h¥alrh of the pantry members. ReduLill¥ feelings of i501ulion with the contact. Enablin¥ IhLm io tomi new tnendships via signpostlll8 to community Organisations, Enwurage5 local volunteering opportunities. Page 2
LightwAve5 Commllnlty Trust Report of the Tr$t¢¢$ for the vear ended 30 September 2023 Improve health & well-bein8 as the members Choose your food. Prevents food and other waste via Fayre Share panty and donations. Prevent hunger. H¢lp5 r¢build5 digTJity, Renews and de¢pen$ ¢onne¢tion$ bettveen faTnilie5 & individua15 in Crisi5 and their local community. Sllstaining suppli¢5 for the Food Panty has bcen a major pressure as the cost oof living CT1S15 has affected so Ttlany pcople increasing demand for help zs dL)llations hove fallen. The WQTk of th¢ Food Pantry is COTnplem¢nlcd support frvTn the Citizens Advice Bureau which Nns a drop iD every Wednesday. froTn IOaTn till 12pm as well as prc-planncd appoinlmcnts froTn Iptn to 3pm. Deinand for the Food Pantry has remained fairly cotJsiJnt and thi5 5ervic¢ ha5 become a corc support for some of the local CQTnrnuDity'5 most vuln¢Fable faTnilie5 and individuals. A prcvious grant of £1 1,000 Prosper Together Fund saw us set up as a decision panel TNst composed of 3 Lightwaves TTUt rnembers who considcr applications via referrals to help families expeTi¢ncing exceptional hardship and emergencies. foT exatnple. such a5 a broken trid8c, need for clothing tor school, bcdding and 8uch like. The scheme has coiitinucd into this year piuviding a vital tool to help famili¢5 and individuals in desperatc circumstances. Lightwavcs ig one of 20 organi5atTOnS who have been ideiititied a5 closest to the houscholds thai need support. PT05pcr Together Fund i5 helping 10 support families and individuals that due lo unexpected circutnstanc¢5 tind ihem5elvcs in crisis CSPCLially due to no 5aving5 and living to month to Tnontli (lack of financial resilien¢el then sttuggl¢ to Tlleet their re.4pon5ibilities and can Icad lo a dccline in mental and physical h¢alth. Referra15 for support come via a seTie$ of lotAI QTgani5ations such a5.. Wakefield District Housing T¢nants' Officers. WDII Cashwis¢ Tbam, PaTcnt5' Liaison Officers tsoin local schools, WDDAS, Turning Point and Social Workers from the Early Flelp I lub Thornliill Sireei and via our Food Pantry. During thi5 period th¢ fund has supported the tollowing.. uuchets ouchers ouih¢rs Food (release money tor Utility bills) Food (i¢l¢asE money lo help with transport to hospital) Cloihing (Domestic Abuscl El¢cin¢iry Gas Rent Beds (baby cot. children and adults) Fridge freezer Turnble dryer Multi-cooker and 12 families 2 familic5 5 faTnilie5 2 individuals 2 individuals l individual 6 farnilics I family I farnily l individu81 urnilure urniturc urnitUFC ookin er Of equal and continuing iThwrtan¢¢ 15 the work undertaken via the Wakefield Connect Café which is focu55ed on supporting LhildTen, teenagers. young adults as well as adults. This is a150 paTallelcd and complcmLnted by llding from the Happy Healthy Holiday clubs that operate in school holiday periods and which finances sports and Icisure activities a5 well as food for the s¢hool childTen. In East¢r 2023, working with 60 youn8 people lincluding 25 from Next Gen¢rètion Youth & CoTnmunity Projcctl we employed and engaged a local Community draTna artist (Gernma Wl and the young pLople txplorL'd what Easter and Rarnadan Tnean5 to thcm and thcir local Community. Working with both groups the young people wrolc and CTealed a plav where everyone had a part 19 ploy. At thc end of the w¢ek, wc invilcd tlie parcnis & LaTets to attend and watch th¢ PLrltimianLL. Duriiig the week we also provided SPDrtin8 aciivitlLS Wlth IhL 5-Sport5 team and certiticatLS and mcdals were ha¥Jded out to ihc youn8 people who had d¢rnonstrated positive probletn solving, resilienee, good te8rnwoTk, and encouraging Co[nU7Cation skills durin8 the weck. Pag¢ 3
Lightwaves Communlty Trust Report of the Trustees ror the year ended 30 September 2023 In SuFnmer 2023 thc main Ihcmc for the 4 week% project wa% 'Come and Join the Circu5'. During this over 166 young people (including 69 from Next Generation Youtli & Community Projcctl trted a diverse range of entertaintnent ski115 including beg a clowtt, hula hvopin¥, dan¢in¥, stilt wdlkin¥+ ju11¥, uniiyclingy and tight rope walking. Thc young people perfoTmed their skills they devcloped during thc 3 wecks tor their p2rcnts and car¢rs call¢d'The Greatest Circus Sliow in Wakefield on ThuTsday 24 August. DuTing the 3 w¢¢k5. the young peopl¢ kcpt fit with gamc% and sports d¢liveTed by ihe 5Spon ieèm. We also held our 2nd Frce Garden Fun Day with staff frotn Flepworth Gall¢ry on Wednesday 9 Augusi in SranlLy Royd Playing Fields. Parents and young pcople were Invited 10 bring a picnit 2nd join with the range of activiiics proNidcd such 2s gamLS with 5 Sport5 T£am, circus related skills with Debbie & Ably and creative play fTOtn thc 14cpworth Team. Over 250 people attended the day alld it was a ycat 5UCC¢55 for ¢vtryon¢. One of thc rcquircmcnts of th¢ fundin¥ w05 providing the young people a trip out. We provided 3 days of fun and gamcs at the CalderdTift Scout Camp on Denby Dale Road. 105 youn8 PLopIL tuuk part in a Tange of activities.. the sauli course, rock climbing. archery, foot golf, horse slioe throwing. tootb811 Frisbee, grass sled¥in¥ and the water sli(le. We used thc Lighnvavcs Minibus and a minibus from the Swafia M05que lo tra115POrt thc young 0pIC to 2nd from the 51t. This was a greai success with local young people who said that they ¢lln't wait to visit again. DUTrg th¢ 4 weeks ot the Healthy Happy Holiday proj¢¢t we also delivered sp(>rts session to Swafja Mosque for boys and girls aged 8 yeaTS to 16 Yea frotn 5pTll to 7.30pm. The sports that the young people enjoy playing iH¢lude.' cricket. fogtball. dodgeball, archery attd badminivn. The threads running through these activiti¢5 aT¢ th&t Lightwaves maintained a strong Icadership role irt promoting and 5UStaining cotllmuniry coh¢¥iun and inclusiun. The Centre still host5 six ditf¢r¢ni faith and religious groups 2nd plays a key rolL as facilitator tor local faith groups PFoviding a safre. multi-cultural athd open ¢nvirontniTI fETrr all cotnmunitl¢5. As wc nolcd in last y¢aT'5 allnual Teport thi5 a reflection of Lightwavcs dtcp involveTnent in a wid¢ pattern of strong portncrship Telations. Trust has built a strtrn¥ and successful (ord of partncrship working with major local p%rtneTS such a5.. Next Generation, The City of Sanctuary. Iht lucal ¢uuncillors, Wakefield Colleg¢, Wakeficld Council, Public l.lealth. youn Lives, NOV A, National Education Union, Wc Ar¢ Wakcticl(L the Wakcfi¢ld Bid. Wakefield HospiLL. WDH Harfield Coun, Create Catc, and Amnesty Intemaiional. The relationship with, and pr¢8encc of Wakcfield College and its staff and stud¢nis gives a great buzz to the Centre and vver the course of the past yeaT Lightwaves has worked hard at making them fecl safe and valued guests and partner5. In thc y¢aT ahead we will work clos¢ly th Wakcf)eld College Staff to continue providirtg a secur¢ and 5afc environment tor staff and swd¢nt5. ACHIEVEMENT AND PERFORMA.YCE Trust Development Trust govcmanLe was su5tain¢d throughout this period with physi¢al meetings Te-inststed although this rewm to "nutsnal" Ineeting practice ha8 PToven vhallcnging but did impTove as the year procL*ded. Indeed. this the tenth year of the Trust's opcratiDn5 3Dd whi15t Sustaining the cenirc and ils servicLs Temained challenging it has also beeE2 8 Strongly positive period as we Te-e51ablished our'nornial" working pattems and opening houT5. In this period our previou5 focus on major developmLnt WOTk continued but proved quite fiustrdiin¥ as rapacity i5SUe5 within Wakcficld Coun¢il 4lalled making practical progrcss on movin¥ lo actually prvcuring the capital works ntcd¢d on the building. This diffteulty has been furth¢r ¢otnpounded by a general crisis in fundin¥ In the UK for local governtnenl and Wak¢field Council having to cope with major constrainis ro moving proj¢ct5 forward. Thc Trust pcrsists irt ils efforts to search out ali¢Tnative capital invcsimcnt options with Wokefi¢ld Council which hopefully will make significant progress on in the yeaT ahcad. Pag¢ 4
LlghÉwAve5 Commuttitv Tru$t Report of the Tru$te¢$ for the year ended 30 September 2023 FINANCIAL REVIEW Overview Ill this period Lightwaves Community Trust moved froTn managing 2 reduced ran8e of community aLtivilics io gradually 4¢alin up opening houTS and service5 to "normal" PT¢-CovTd patt¢TllS. Provision of corntnunity anchor facilities was particularly ¢hallenging throughout the pandemic period and emergence froTn it hA5 been a190 challenging. Maintaining sound financial management and support trom local or8anisalions and both staff and volunteeT5 have bclped Lightwaves return to alrnost DQTm81 Itvels of 5¢rvic¢, Various support and financial grants from Waketield MDC, National Lottcry and NOVA cnsurcd rhc or8anisation's financi21 viability and susrainabiliry from the Covid perivd and have PTovided a platfoM helping the CentTe bounce back in this period. Principal Funding Lightwavcs continued last yeals reNm to pre-pandemic PAtterns of income generntion activitie5 via trading activities, notably and chiefly sports facilities income. and events income. The Tnjsl 18 21so seeking out and applying to fvnding opportunities as and when these ari$e and appropTiate to the Trust's strengths #nd prioritie5. Over the year liead a major priority will be accessing grant and other financial resourtes to UP8radc and refresh th¢ building and Tt5 facilitie5. The capttal invLstmenl owed lo Next GeneTaiioii 15 b¢in¥ Steadily and sysl¢Tnatic8lly Teduc¢d. Tru5tee5 r¢cognis¢ the eed lo tnaintain its effons io build up reserves and lo pro-actively seek out turthcr capital investment in developing the Centrc's faciliiics as a mean$ to enhsnce the su5taiDability of our operdtions a5 well as b005t incolne generation. Reserves. Polley The aim5 and objectives of our Reserves Policy are to.. a. Ensur¢ a level of working capital io susiain the Centre and the abiliry io perform its charitable obje¢¢ives. b. EnsuTC a Icvcl of fundillg to undertake Rcw chall¢llge5 and opportunitle5 as they arise. EDSUT¢ availability of funding to covcr cxtrdordinary expendin]rt and loss of revenue as a ¢ons¢quence of tnatteT5 arising beyond the TTUSt nortnal day to day operations. Undcrpinning these aitns and objectives the Trust seeks to build up and hold a Icvel of free reserves equTvalent to two yeaTS' annual expenditure. The Trustees Tealise that this continues to be a long-terrn bul n¢ct55ary challenge that thc Board tnust pursut. Sport facilities in¢otne is seasi)nal and fluctuates in cotnparison to rental incomc which h retnain¢d regL)lar and helpcd sustain our working capiLII funds as well as fimd staff wages and other fixed costs. The Board of Trustees #nd staff continually seek to PTOlllOte and implcment crcativc and inicrcsting income iniliaiives, rant applications and donations {both indildal and cotpoiaiel. The Fundin¥ Strategy docutneni and thc reviscd three-to-five yr Busines5 Plan have had to bL dLIayL in t¢ms i)f implLm¥ntaiion but various grant aid to deal with the Covid crisis has hclpcd to matnt2in the Trnst's reserv¢s. Inv¢stmcot power51 policy and performonce The trustecs havittg regaTd to the liquidity qUireMentS of opcrating the Celltre and to the Rcserves Policy have Jnainizined a policy of ktq)in8 available fvnds in an interest eaTning dep051t account allowing imm¢diaie acc¢55 as necessary. Looking ahead The Trut'S overall stral¢8y of enhancin8 income ¥entration and irnproving 5U5tainability remains a key priority and 5pecitically lo seek majoT inv¢stm¢nt to enhance and up-grade the Centrc's faciliiics COttlinu¢s. Lightwave5 TTUSt ¢ontinue cxploring major capital investment options with WakLfi¢ld Council to bring the buildin8 up io modern Standards and sustainabl¢ ¢ngY usage. Page 5
Li¥htw#vcs Ctymmunity Trust Report of the Tru5tee5 ror th¢ year tthdod 30 September 2023 STRUCTURE, GOVEILYANCE AND MANAGEMENT Governing document Thb CVTnpapy was fuTtn¢d in 2012 artd is limited by guarantee. It 15 regist¢T¢d with Companies House under COTnpally registration numbcr 08227390. The cliarity was foTm¢d Tll 2013 and is rcgislcrcd with the Charity Cornmi55ion uDd¢r charity number 1150892. Governing document The charity is governed by its Memorandum and Article5 of Association. Recruitment and 8PPOllltment of tru$tecs MeFnb¢rs of the board of trustees are appoinlcd to repTe5ent Next Generation 12), Wakefield Collcgc 11). local community141 and users of Liglitwaves Leisure C¢ntre121. Organlsgtlon? governallce management The board of tNsiees, which can have up to twelve mcmbcTS Icight trustees and four Board advi50rs}. who are committed to making a success of thc community rnanagement of Li¥htwaves, administer the charity. Thc board normally mee15 monthly with sub cornrnittees coverin¥ fillancL' 2nd audit. community tundraising. maTketing and PFvmotion and vperaiional allageLnI meLting as appropriate and reportiDg to the fvll board. A general managcr is appoinicd by thc trustecs to manage the day to day op¢rdtions of the chariry. To allow effectiv¢ managcment. the gcneral Tllanag¢r ha5 delegalcd authoriry, within temis of delegation approved by the tNstees. for opeTalional tnaiters includin¥ finance and employment. Wc have reviewed our governance and control arrangements via participation in a progrETnTne provided by NOVA, the charity thai suppons Voluniary, Cotllmuniry and Social Enierpri&e IVCSEI organisaiions in Wak¢tield District lo thrive alld the methodology of which echoe5 the best PTacti¢e governance asseqsment template ot the LhaTity Commis5iOll. Thc charity a150 has a number of volunteer helpers who assist the paid staff with running the ccntrc and PPTeDticcship %¢htm¢ OPeTatd conjunction with Wakttield College which provides local young people with an opportunity lo work ai th¢ ¢erttre for a period of twelve month5. The strong partnership relations with Next Generation CIC. have cortlirtued on 2 day-to-day basis with both parties benefitting from collllboration on projects and s¢rvi¢es whether jointly rnn, or managed in thc Ccntre. A core mission of Liglitwavcs Community Trnst is a commitmcni to sustaining deep Strong ¢VTntnunity invvlvemettt and tu btjild ort our trdck Tecord of an excellent WQTkin¥ r¢lationship with Next Generation. Inductitsn and trsining of ncw trustees Induction into thc workings of the charity is carried out by tW5t¢¢s and s¢nTor manag¢TS already servittg on the bogrd with ongoing trainiiig beiiig undertaken in house and by txt¢rnal visits. Iv LL1 and similar or¥ani&alions. Risk m#n$greTht The MJsteL'S have 2 duty to ideniify 2nd review ihc risks io which th¢ charity is exposed and to ensure appropriate ontrols 8Te in place to provide reasonable assuTance against fraud and erTtsr. Th¢ tTU5t¢es have appTov¢d 2 risk anagetn¢ni strategy which compri5eS'. a. an annual review of the risks the charity may face b. the eqtabli%hm¢nt of systems and procedure8 10 mitigatc ihosc risks identified in the plan, and c. Ihc impleincntation of procedurcs dcsigned to minimi5e any potential impact on the chanty Should th¢)5e ri5k5 materialise. This work identified financial sustainabiliry of the buildtng and its facilities as the continuing major financial risk for thc charity. DevelopmLllt work in this period focussed oll efforts t0 5ecuTe significant investments in addressing the building's SU5tainability. Page 7
Lightwaves ComrnunIty Trust Report of the Trustees fur the year ended 30 September 2023 REFEREYCE AND ADMINISTIL4TIVE DETAILS Regislered Company number 08227390 {England attd Wales) Registered Chgrlty number 1150892 Regi5tcred office Li¥htWai'C5 Leisure Centre Lowcr York Street Waketield Wcsl Yorkshire WFI 3LJ Trustees Ms l G M Van Rijn (Community Cenire Manager) Mr M Ayub ICotnTnunity Centr¢ Manager) N4r J Howard IFE Colllge D7ctor of F5tatesl Mg D Bractwell Iowner ot a Tutoring Company) Mr J Coulton (Spurts Facility Managerl Mr M McKigney (Economic Development Consult2nil Mg S Bcdford Isucial WtsTk¢r} H Grocock (CEO Sight Aid) Company Secretary M51GMVanRijn llld¢pendeDt Examxller Clair¢ Lawton FCA DChA SMI l Jollitfe Cork Ltd Chartered Accountants 33 Georgc Street Wakcficld West Yorkshire WFI ILX Appruvcd by order of the board of trustees on 20 June 2024 ad signed it5 behalf by: Mr M G McKigney-T sie¢ Page 7
Independent Exgmlnor's Report to the Trustees of Lightivave5 Cotnmunity Trust Independ¢fjt ¢X#tNiDer's report to the tru$tCC5 of Lightwaves Community Trn5t I'the Cornpany'l reporr lo the Charity trustees on my exaTnination of the account% of the Company for the year end 30 Septeimber 2023. Re5ponsibilltl¢s and ba5]5 of report A4 thc chariry's trustees of the CoTllpany (and also its dire¢tOTS for the putposes of company lawl you are responsible fo the preparation of the accounts in ac¢oTdance with tlie requirements of the Companie5 Act 21K>61'the 2006 Act'l. Havin¥ satistied mysclf that the accounts of thc Company are not TequiTed to be audited under Part 16 of the 2006 A¥t and are eligiblL foi iDdependent examination, l TCPOrt In respect of my exarnination of your charity's accollnt% 45 carried out under Section 145 of tlie chariti Act 2011 I'the 2011 Act'l. In carying out my txamination I have followed the Directions given by thc Charity CgTnFnission under Section 14515) (bl of the 2011 Act. Independent examiner's st8tem¥nt Sincc your charity'5 gross income exceeded £250,OfX) YOUT exarniner musi be a member of a listed body. I call confiThn thai I tm qualified to undertnke the examination bcc2usc I am a Tn¢Tnb¢T of the Institute of Chart¢r¢d Accountants England and Wale5. which is one of the listed bodies. I have co¥npleled my examination. I confirni that no nJattet5 hav¢ come to my atterttioD in connection with the examination giving Inc causc to bclieve: a¢¢ounting records WLre not kept in respect of the Company a5 T¢qUITed by Section 386 of the 2006 Act.. or the accounts do not accord with thos¢ retoids: or the accounts do not comply with thc accounting T¢quirernent5 of Section 396 of the 2006 Act other than any requirement that the accounts. give a truc and fair view which is 01 a matter considered as part of an indupindL'nl exatnination., or th¢ account5 havL not b¢¢n prepared in accordan¢e with the rnethods and principle5 of the Statem¢ni of RecoJnmL'nd¢d PTactice tor accountin¥ and reporting by chariiiLS (applicable to charities preparing their accounts in accordance 7th the Financial Reportin¥ Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concern$ and have cojne acros$ no other matters in connectiott with the exaTninatioll to which attention should be drawn in this report in order to pnable 8 proper understanding of th¢ accounts to be rcaLhed. Claire Lawton FCA DChA The Institut¢ of Ch2rt¢red Accountants in Eng5ad and Wales SMH Jollit7¢ Cork Lid Chartcred Accountant8 33 George Strcei WakLfi£ld West Yorkshire WFI ILX Date.. Page 8
LightwAves Commullity Trust Statemenl of Finallcial Actii'ities Ilncorporating an Intom¥ #nd Expenditure Account) for the year eDded 30 September 2023 2023 Total rund5 2022 Total funds Unrestricted tund Restricted fijnds NotE5 IIYCOME LND ENDOWMENTS FROM Donations and IL¥aci¢5 53,438 53,438 37.992 Charitgble gctivitie$ Sports facililics incum¢ 53,490 53.49(k 70.279 Other trading a¢tivitie5 InvE5hncnt income 225,048 795 225,048 795 185,555 38 Total 279 333 332 771 293 864 EXPENDITURE ON Chxritable activities ManagLment and adtninistration Event5 Publicity and promotion Pretnises 82,347 43,044 1.159 176504 45.113 127,400 43.044 1,159 176504 85,274 10,805 150 132,853 Tot91 303 054 348 167 229,082 NET INCOMEI(EXPENDITURE) (23,7211 8.325 (15.396) 64,782 RECOryCILIATIOY OF FUNDS Total bTought torward 138.577 51.680 190,257 125.475 TOTAL FUINDS CARRIED FORWARD 114856 60,005 174861 190,257 Th¢ note5 form part of these financial statement5 Page 9
Llghtwa*¢s Co]nmunity Trust Balance Sh¢et 30 September 2023 2023 Total fund5 2022 Total funds Unrestricted fund Rcslricted funds Note5 FIXED ASSETS Tangible assets 18,545 18,545 23,181 CURRENT ASSETS DcbtOTS Cash at bank and itt hand 37.066 140 585 37,066 189519 34,822 202,605 177.65] 4&934 226,585 237.427 CREDITORS Amounis fallin¥ within onc year 10 {62,7951 17,4741 170,269} 170.351) NET CURRENT ASSETS 114856 41,460 156J16 107,076 TOTAL ASSETS LESS CURRENT LIABILITIES 114.856 60,005 174,861 190,?57 NET ASSETS 114856 174861 190.257 FUNDS Unrcstricicd furtds Restricted funds 114,856 138,577 51.680 TOTAL FUNDS 190257 The charitablc compatty is entiiled to exemptioii from audit under Section 477 of the Companics Act 2006 for the year ended 30 September 2023. The eMberS have not required the company to obtain an audit of its financial statements for the y¢aT ended 30 September 2023 it] a¢cDrddnce with Section 476 of thL CompaniLs ALI 2006. The ISte£S acknowledge their responsibilities for IA) ensurtng that Iht ch#rilable cotnpany keeps accounting records that comply with Sections 386 and 387 of th¢ Cgmpanie5 Act 2006 and prepllring financial 5taiemcnts which ¥ive a ITue and f&iT v2ew of the state of affairs of the charitable company as at the end LTrf eaLh fin&noial year and of its surplus or deficir for each fin3nci81 year in accordanc¢ with the requirements of Sections 394 and 395 and which otherwise comply wilh the rcquirLm¢nts of the CoTnpanie5 Act 2006 Telating to financial stakmcnts. so far as applicable to th¢ charitable company. Ibl The notes form part of th¢$e financial Statements Page 10 continud...
Lightwaves Cornmunlty Trust Balance Sheet- contlnued 30 September 2023 These tinancial statements have been PT¢pered in accordance witb the provisions applicable to ¢hgritable CQTnpanies subjtri to the small companics rcgime. The financial statements were appr()ved by the B0d of Tru5t¢¢b and auth0ri5ed for issue on 26 June 2024 and weTe sisncd on its behalf by.. Mr M Ayub- Tru5te¢ Mr M G McKigncy- T tee The notes fomi part of these fin&n¢ial ststeTti¢llts Pagell
Ligbtw&ve$ Community Tr$t Nott$ to the Frnan¢i#l St#timcnt$ for the year ended 30 September 2023 ACCOUNTIIYG POLICIES Basls of prep9rlt)g the finAnclal stAtemeDts The tinancial statcments ot thc charitable cosnpany, wbich is a public benefit entity uttd¢r FRS 102, have b¢¢n prepared in accoTdanrc with th¢ Charities SORP IFRS 1021 'Accounting 2nd Reporting by Charities.. Statcment UI RL'CUtnTnended PTaLtiri appli¢abl¥ lu chariiits prcparing their accounts in accordanc¢ with the Financial Reporttng Standard applicablc in the UK and Republic of Ircland IFRS 1021 leffective l January 20191,. Ftnattcial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of ITgland' and the Companies Act 2006. The financial siatem¢nts have becn prepared under the historical cost onv¢ntion. GoSng eoncrr ThL fittdttLi1 stalLmenis att drawn up on thL going concern basis which assumes the TnESt will continuc in operational ¢xistence for ihe foreseeable futUTe. The TnLSt's principal sources of tncome are from the tr2ding activities. sports event5 and event income. New income sir¢ams are continually being evaluated and initiatives sought to balanc¢ Rgainst 8ny disruptions to the usual trading pÈtteTn. The Tru&lc¢s mVnitVT Lash flow and lh¢ bud¥¢t forecast ort a r¢gular basis takirt¥ into ¢on5iderativn the ¢hattgin¥ economiL and social climate, along with public sector financ¢ availability. The Trustr$ budg¢is indi¢aie that the Tn]st will be able to mainlain liquidity for a period of at least one year followirt¥ ihe dale of signin¥ thes¢ finanLial btsi¢menis and sustain its OparIOnal existence duriii8 the twelve tnonth5 and accordiii¥ly, the Trust accounts are appTopri&tely PT¢paT¢d undeT the going conc¢TD ba515. ExpeTLditure Liabilitics are re¢ognis¢d as exp¢nditUTe as soon as ther¢ 1$ 2 le¥al OT ¢OttStrtJctive obli¥ation ¢ommittin¥ th¢ charity ro that Cxpendituye, it Is probablc that a transfer ot. cconomic bcncfiis will bc rcquircd in scttlcmcnr 2nd the amount of th¢ obligation can be measured Tcliably. Exp¢ndiluTe is arrount¢d for on an accTua15 basis and has been cla5Sltied under headings that aggregate all cost related to the category. Where costs cannot be dircclly attributed to particular headillg5 they have bEen allocated to a¢tivit1¢5 on a basis con51Stent with the use ot Tesourccs. Tanglble fix¢d gssets Depreciation 15 provided at the following annual rate5 in order to WTite off each asset ovcr its esiimatcd use] Sports cquipjneni FTKtyT¢S and fittings 25.10 on ¢osl 2/0 on cost No depTeciation is charged in the year of ecquisition and a fijll years deprcciaiion is charged in th¢ year of disposal. Tangiblc fixed assets are initially recorded at C05t and the charity doe5 not capitalise fixed assets which cost less than £1,000. Taxatloo The charity 15 exeinpt from corrK>ration tax on its charitable activities. Futtd a¢¢outhting UttrL'StrictLd funds ¢aD bc us¢d in accordance with the charitable objectives at the discretion of th¢ trustces.General fund balances are comprisLd of CLntre income and fundraising income foT the ¥eneTal putposes of the c¢ntr¢. R¢stricied fund balances are comprised of 8rants and donations from individual donors. The temis attd cottditlQll5 of the ftjnds relate to specific requests at the tiTne of receipt by the Tntst. Further explanation of the naturc and purposl of cach fund is included in the notes to thc financial statements. Page 12 continued...
Llghtwaves Commut)Ity Tru$t Notes to the Flnancil Stgtcments- tontlnued for the year ended 30 September 2023 ACCOUNTING POLICIES- continued Fees and othcr in¢om¢ Fees receivablc and charges made for services and us¢ of premises are accouttled for in the prriixi in which the 5¢Fvice is provided. Grants and don9tions Dollations are accounied for in the period in which they are received or the amount receivable 1$ know51 with certainty. Grdnt5 aTe flCCt¢d in PTOPOrtion to th¢ expenditure to which it relates. Grants and donations given for the general purposes of thc ccttlrc are includLd in unrestrtcied funds OTHER TIUDING ACTIVITIES 1023 2022 Events catering income MiscLllanLOUS incorne Rents receivable 49,575 15 175458 28,769 28 156.758 225 048 185,555 IIYVESTMENT INCOME 2023 2022 Deposit account interest 795 38 NET INCOMEI(EXPENDITURE) Net incomcllexpcnditurel is stated after chargingllcrediting).. 2023 2022 Depreciation - owned assets 5,795 TRUSTEES, REMUNERATION Af40 BENEFITS No Trustee received Temuntration or oth¢T b¢nefil8 for their work as a Trus¢ during thc year ended 30 SepttmbeT 2023. 14owever, as disclosed in note 13, un¢ of the cornmunity centre managcrs was remunernted for th¢ir sctvicL as att employee. in accordan¢¢ with the Memorandum and Articles of A$soci&tion. Tru5tees' expens0$ There were no trust¢e5' exp¢n5¢s paid for the year ended 30 Septembcr2023 Dor for the year ended 30 September 2022. Page 13 continued...
Lighthaves Communlty Trust Note5 to the Fithathcixl Statement5- continued for thc year ended 30 September 2023 STAFF COSTS The avcragc monthly number of etnploy¢e5 during the year was as follows.. 2023 2022 Management and administtHtion Prernise5 No employeLb received etnolutnents in excess of £60.000. COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted fllnd Rcsthctcd funds Total J)ds INCOME AND ENDOWMENTS FROM Donations alld Icgacie5 37,992 37,992 Charltablt activities Sports facilities income 70,279 70,279 Oihcr trading activities Invc5rmtnt inCOTne 185.555 38 185.555 38 Total 255.872 37.992 293.864 EXPENDITURE ON Charitablc acti%'ltles Mana¥ement and administration EvcntS Publicity and promotion PTefftis¢s 68,270 10.805 150 127.058 17,004 85,274 10.805 150 132.853 5.795 TotY41 206,283 22,799 229,082 iYET INCOME 49.589 15,193 64.782 RECONCILIATION OF FUIYDS Total funds brought foNaTd 88.989 36,486 125.475 TOTAL FUNDS CARRIED FORWARD 138.578 51,679 190.257 Page 14 continued...
Lighhvave5 CommunIty Trust Note5 to the Financial Statements- contlnued for the year ended 30 September 2023 TANGIBLE FIXED ASSETS Fixtures and fittings Sports equipmcnt Totalg COST At l October 2022 and 30 SeptetnbeT 2023 3,469 DEPRECIATIOD4 Ai l OctobeT 2022 Chargc for ycar 3,469 6,938 10,407 At 30 September 2023 NET BOOKVALUE AI 30 September 2023 18 At 30 Sept¥mbrr 2022 23.181 DEBTORS: AMOUNTS FALLIG DUE WITHIN ONE YEAR 2023 2022 Trade debtOTS Prepayments and accrued illcome 35.242 33.288 34.822 io. CREDITORS.. AMOUYI TS FALLIYI G DUE WITHIN ONE YEAR 2023 2022 TTadc eredil0T$ Other creditors Accn]als and d¢feTr¢d incoTne 12,731 17,250 30.847 23.250 16,254 70.351 MOVEMENT IN FUNDS Net tnoveiment in funds At 1.10.22 At 30.9.23 Unrestricted funds General fund 138,$77 {23.721) 114,856 Restricted funds Grants Donations 51,680 6,934 58.614 8.325 TOTAL FUNDS 190257 15 96 174861 Pa¥e 15 continued...
Lighhvaves Communlty Trust Note5 to the Flnanclgl St#tements- continued ftsr the year ended 30 Septemb¢r 2023 ii. MOVEMENT IN FUNDS- contlnued Net movcment in funds. irt¢lud¢d in the above are as follows.. Incoming resources ResouTce5 expend Movemcnt in funds UNre5tricted funds General nd 279.333 1303,054) 123.7211 Restricted funds Grants Donation5 50,361 {43,430) 6.934 TOTAL FUNDS 332 771 34&16 15 96 Compar*tivt$ for movernent in fuDd5 Net movetnellt in funds At At 30.9.22 Unrestri¢ted fuDd5 General tund 88.989 49,588 138,577 Restricted funds Granrs Donations 33,636 2.850 18,044 2,8501 51,680 15.194 TOTAL FUNDS 125.475 190,257 ConipaTative n¢1 movemcni in funds, included in the above are as follow5.. lll¢oFning r¢sources Resources expended Movement in funds Unrestricted funds G¢niTal fund 255.872 1206,284) 49.588 Restricted fund5 Grants Donations 35.417 2,575 {17.373) 18.044 2.8501 37,992 22,798 15.194 TOTAL FUNDS 293,864 229.082 64.782 Pa8e 16 continued...
LightWY4ve5 CornmuDltv Trust Notes to the Fitlancial Stattnient5- COtLtinued for the yi'ar ended 30 September 2023 MOVEMENT IN FUNDS- continued RESTRICTED FUNDS Foodbankl Food Pantry Servlce The Tiod of tlie pandemic saw Ligbtwaves become a vital corntnunity hub to help lu¢al peopl¢ nL¥atively iTnpactcd socially 2nd e¢ollomi¢ally by the health crisi5. Thankfijlly thc major healtli iTnpact5 of Covid-19 have receded but the economi¢ and social effects have continued alongside worsening e¢c)DQTnic conditions. Thc devLlopmenl and growth of tlie Lighnvaves fuud bank SLfviLL showed thi8 and a5 knowledge and expLrienre of providing such support deepened otliei tnodels apd approaches to dcaling with food povety wer¢ ¢xamintd and dIscussL with partncrs 5ucli a5 Ncxl Gcneration, the local mosques Étnd Wak¢tield Council. A movc to a foc)d pantry SeTvice was developed, wh¢re U5eT5 bub.4Lribe for £5 per week and can then select fTOTn a range of foodstutls and hou%ehold %upplie5. as well as personal hygienc and other clLaning products to the valuc ot'£40. The transition to a food pantry service took a lot of WDrk in terms of a different set-up as well as fit-out to a anoiher space and with new admini51rative arrangements bul it all went VLYY 5nioothly and successfully. Overall it has been a smooth and cffcLlive chang¢ with volunteers and users of tbc service SeEing it a5 a very sItIve development in ¢ffort5 to 5UPPOrt tamilics and individuals experiencing n¢td. Clearly thc consultation with ueT5 a5 well as the development of th¢ S¢Tvice from other5, best pr8Cttce and experies2c¢ certainly helpcd. Familics and individuals continue to be Tetcrrcd to thc Food Pantry via Wakefield Couiicil's Weltare TLam ur via the Citizens Advice Bureau. D¢mAnd for support for d¢priN'ed familics has remained high and a5 the cost of livinb? crisis wa5 compourtdcd by SL'VCIC ¢ncrgy cosi Tise5 It h&5 become a key pillar ()f what Lightwavc5 l5 able io otTLr the local romniunity. The Lnergy Crisis dnd its impacts on wulncrable f.amilies has bL¢Tr th¢ development ot'warni Spaces iniliativcs. Lightwaves made succtssfvl grant applications to th¢ "Wann Spaces and the PTOSpeT Together Funds which will allvw us to PTovid¢ warm spacc as well as provide a hardship grant to poor families experiencing financial etnergencics. A £1 1,000 grant from th¢ Prosper Together Fund ivas rcceived during the year which complcm¥nls Ihc food pantry work. In this we established a decision plln¢l Tntsi composcd of 3 LightWaV¢ Trust rllembcrs who consider applicaliun% via r¢f¢rrals to help farnilies experiencing exLeplional hardship and crncrgenci¢s. Th¢5e applications for support typically ill¢lude provision of Vouche lo rcplace a bToken fridge, or Provide z bed gr bedding, clothing fvT bchool, tlc. The schcmc will continue into 2024 and beyond providitjg a vital fo of support hLlping families out in crisis vi de5p¢ral¢ ClTcumstances. Fund balance £9,4601£8.069 GranV£1,391 Donaiiotts) at 30 SepteTnbeT 2023 Power to Change The Power lo Chan8L an1 was foT a part Share ot. rhe capital wurk5 on the building to make it safe for tlie public lo come into the centr¢ and rhen feel safe on¢¢ they were using IhL building. We had newly tilted &utornarLd eniranle door5, a new inlLmal and extemal Tnodern digital CCTV system, and cleaning prL)dUCteqUlpfell[ that cvuld deal th tlie COVID-19 vinjs. Fund balance L9.600 ai 30 Scptcmber 2023 (held a5 taiigible fixed asseisl. OVA Support Fund During rhc pandemi¢ Lightwaves lias been a lifeltnL' fur many cotnrnunÈti¢s' many within Dur local cointnunity had exp¢TiencEd sigiiificant ditficultie% which Tneant that we needed to adjust our activities to suppon rhem. Thc NOVA fund has helped Li¥htwav¢5 10 dcl'elop and the &eiting up of the toodbank for those ¢xpeTicncing rinzncial hardship, including food dtliveries foT Yulnerablc residents and those isolating. Some of the futjding has also gone towards match funding wilh tht other pois to cotnpl¢t¢ capital works. Fund balance £8.945 at 30 Septemirr 2023 (held a5 tangible fixed assets}. Page 17 continued...
LightWAves Community Trltst Nol¢$ tv the Financi#l St•timtnt$ Continued ror the yegr ended 30 September 2023 MOVEMENT IN FUNDS- continued Wakefield Happy, Healthy Holid#vs Th¢ Happy Healthy 140lidays bchem¢ has b¢en continued with funding allowing spons. learning and social aciivities for 8-16 year olds. Each child participating gets a healthy meal each day during the sch¢ni¢. The scheme is inclusivc and created and operated to help impTOVt fitDe.45 lev¢15. 5UStain creativity and en¢ourdge healthy eating. Fund balance £20.805 at 30 September 2023. Emtrgenty As$i$t2nce The Emergcncy Assistance grant continued to help Lightwaves foodbank T¢5tock much ne¢d¢d fi)od 5uppIi¢5 SO we could conitnuc suppoftin¥ our local community. Fund balance £1.500 al 30 September 2023. WF Connect Cafés The WF Connect Cafes grant was received from Wakefield Council, to provide IT and internet a¢¢ess and gupport metnbct5 of Ihc cotntnuiiity and public, to help with cdueattott, cmploymcnt attd other online services. Fund balance £7,000 at 30 Scptcmber 2023. Warm Spaces A sucte54ful fvnding application allowed continuation of the Warni Space initiative for ihc community over the wintcr period. This provided a wami and welcoming space as well as contributing to people's quality of life and 5UPPOrting positive social interactions. Fund balance £1.695 ai 30 S¢piember 2023. Household Support Fund Funding continued into this year providing a vital tool to help famili¢$ and individual$ in desperat¢ circumstanccs. Fund balance £1,000 at 30 SeptefftbeT 2023. Transfers betwetth funds Transfers arc made from the restricted fund when expenditure h&8 beett incurred on items the grants and donations were intended to cover. The rcsultcd unrestricted gcncral fund has ariscn primarily trom rcntals dcrived from the use of the cenire 2t)d 11 future reSoUeS Ted will b¢ for the purpDSe of the iy)ntilluing use of the crntre. 12. RELATED PARTY DISCLOSURES During the y¥ar, r¢mun¢ration of £22.743 12022: £22,847) was paid to vn¢ of the cornTnunity centTe manager& who is also a trustee. No trustee receiv¢d any remuneration in iheEr capacity as tn]8tee. No trustLe ¢laiTned out of poGk¢t ¢Kp¢nse5 forttav¢lling to meetis12022.. £nill The TTU5t ha5 arranged Charity Trust Assurance at a cost of £26612022.. £2661 In 2020 Next Generation provided an int¢rest free loan with no specific repayment ternl8. The balance of this is shown in Creditors: amounts falling due in less than one y¢ar- £17.25012022.. £23,250). Page18
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