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|||Page|
|---|---|---|
|Reference and Administrative
Details|||
|Report ofthe Trustees|||
|Statement ofTrustees'
Responsibilities|||
|Report ofthe Independent
Auditors||10|
|Statement ofFinancial Activities||13|
|Balance Sheet||14|
|Cash Flow Statement||15|
|Notes to the Cash Flow Statement||16|
|Notes to the Financial Statements||17|
|Detailed Statement ofFinancial|Activities|29|
|TRUSTEES|JGough (resigned 18.5.23)|JGough (resigned 18.5.23)||
|---|---|---|---|
||KRManning
(resigned 8.6.22)|||
||AJWolverson
(resigned 6.9.22)|||
||Mrs EBennett (resigned 6.9.22)|||
||Mrs PKBrigue|||
||Mrs A Benjamin|||
||Mrs M Howell (resigned 31.3.23)|||
||Mrs KC Griffiths|||
||Mrs LJBashford (appointed||27.4.22)|
||IBudd - Chair (appointed|12.9.22)||
||BFletcher (resigned 29.11.22)|||
||Mrs JHaydon (appointed|7.6.22) (resigned 11.3.23)||
||TD Longmore (appointed|6.9.22) (resigned 29.9.23)||
||T Munro (appointed 6.9.22)|||
||Miss CLK Swift|||
||A KRaju (appointed 3.2.23)|||
||Ms SA Butcher (appointed||18.5.23)|
|COMPANY SECRETARY|Miss CLK Swift|||
|REGISTERED OFFICE|The Way|||
||School Street|||
||Wolverhampton|||
||West Midlands|||
||WV3 ONR|||
|REGISTERED COMPANY|08341220(England and Wales)|||
|NUMBER||||
|REGISTERED CHARITY|1151247|||
|NUMBER||||
|INDEPENDENT AUDITORS|Lancaster Haskins Limited|||
||Granvige House|||
||2 Tettenhal
1Road|||
||Wolverhampton|||
||West Midlands|||
||Wvi 4SB|||
|BANKERS|Handelsbanken|||
||Trinity Court|||
||Ground|||
||2 Broadlands|||
||Wolverhampton|||
||WV10 6UH|||
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|TOGETHER|We are committed
to building
positive, inclusive
relationships|We are committed
to building
positive, inclusive
relationships|with all. Individuals|with all. Individuals|with all. Individuals|are|are||
|---|---|---|---|---|---|---|---|---|
||respected
and celebrated
within The Way community.||||||||
|HONEST|We are open and sincere. We act with integrity
and transparency
and are accountable||||||for our||
||words and actions.||||||||
|ENERGETIC|We approach
all we do with a 'can-do' attitude. We are positive, dynamic,|||and flexible|||and||
||always give our best for Wolverhampton's
young people.||||||||
|WELCOMING|We create a safe, positive,
and supportive
atmosphere
for all.||We care for people|||and|are||
||passionate
in all we do.||||||||
|ASPIRATIONAL|We are constantly
evolving
and always seek to improve.|We|grow, progress,||and|develop||as an|
||organisation
and as individuals.
We lead by example and|inspire others.|||||||
|YOUTH-LED|We are needs-led
and young person focused throughout|our work.|||||||
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|STRATEGIC REPORT|||||||
|---|---|---|---|---|---|---|
|Financial
review|||||||
|Financial position|||||||
|A summary ofthe income|and|expenditure|is|as follows:|2023|2022|
|Total income|||||1,095,011|717,910|
|Total expenditure
(excluding||depreciation|charges)||(1,065,166)|(896,818)|
|Net income/(expenditure)|before depreciation|||charges|22,185|(178,908)|
|Depreciation
charges|||||(127,647)|(128,034)|
|Net income/(expenditure)|for|the year|||(97,802)|(306,942)|
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||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|fund|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations
and legacies||2|836,269|126,837|963,106|643,060|
|Charitable
activities|||||||
|Membership
fees|||4,174||4,174|7,725|
|Session fees|||5,257||5,257|16,248|
|Catering income|||20,094||20,094|7,732|
|Room hire|||91,319||91,319||
|Other trading activities||3|9,193||9,193|43,145|
|Other income|||1,868||1,868||
|Total|||968,174|126,837|1,095,011|717,910|
|EXPENDITURE ON|||||||
|Raising funds||5|51,131||51,131|25,557|
|Charitable
activities|||||||
|All charitable
activities|||951,519|190,163|1,141,682|999,295|
|Total|||1,002,650|190,163|1,192,813|1,024,852|
|NET INCOME/(EXPENDITURE)|||(34,476)|(63,326)|(97,802)|(306,942)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought
forward|||4,816,297|85,891|4,902,188|5,209,130|
|TOTAL FUNDS CARRIED FORWARD|||4,781,821|22,565|4,804,386|4,902,188|
|CONTINUING
OPERATIONS|||||||
##
##
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|fund|funds|funds|
||Notes|f||||
|FIXEDASSETS||||||
|Tangible
assets|12|4,387,149||4,387,149|4,514,796|
|CURRENT ASSETS||||||
|Debtors|13|54,343||54,343|104,078|
|Cash at bank and in hand||410,332|22,565|432,897|360,345|
|||464,675|22,565|487,240|464,423|
|CREDITORS||||||
|Amounts
falling due within one year|14|(70,003)||(70,003)|(77,031)|
|NET CURRENT ASSETS||394,672|22,565|417,237|387,392|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||4,781,821|22,565|4,804,386|4,902,188|
|NET ASSETS||4,781,821|22,565|4,804,386|4,902,188|
|FUNDS|15|||||
|Unrestricted
funds||||4,781,821|4,816,297|
|Restricted funds||||22,565|85,891|
|TOTAL FUNDS||||4,804,386|4,902,188|
##
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
||||Notes|f.||
|Cash flows from operating|activities|||||
|Cash generated
from operations|||1|72,552|(243,974)|
|Net cash provided
by/(used|in) operating||activities|72,552|(243,974)|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed assets|||||(3,489)|
|Net cash provided
by/(used|in) investing||activities||(3,489)|
|Change in cash and cash equivalents||in||||
|the reporting
period||||72,552|(247,463)|
|Cash and cash equivalents|at the|||||
|beginning
ofthe reporting|period|||360,345|607,808|
|Cash and cash equivalents|at the end||of|||
|the reporting
period||||432,897|360,345|
|RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING|RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING|RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING|RECONCILIATION
OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING||
|---|---|---|---|---|
|ACTIVITIES|||||
||||31.3.23|31.3.22|
|Net expenditure
for the reporting||period (as per the Statement of|||
|Financial
Activities)|||(97,802)|(306,942)|
|Adjustments
for:
Depreciation
charges
Decrease in stocks|||127,647|128,034
1,140|
|Decrease/(increase)
in debtors|||49 735|(10082)|
|Decrease in creditors|||(7,028)|(56,124)|
|Net cash provided
by/(used|in) operations||72,552|(243,974)|
|ANALYSIS OF CHANGES|IN NET FUNDS||||
|ANALYSIS OF CHANGES IN NET FUND|S|||
|---|---|---|---|
||At 1.4.22|Cash flow|At 31.3.23
f|
|Net cash||||
|Cash at bank and in hand|360,345|72,552|432,897|
||360,345|72,552|432,897|
|Total|360,345|72,552|432,897|
##
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|DONATIONS
AND LEGACIES|||
|---|---|---|
||31.3.23|31.3.22|
|Donations|278,129|162,330|
|Gifi aid|20,000|54|
|Grants|664,977|480,676|
||963,106|643,060|
##
|||31.3.23|31.3.22|
|---|---|---|---|
|||f||
|Fundraising|events||288|
|Room hire||9,193|42,857|
|||9,193|43,145|
##
|INCOME FROM CHA|RITABLE ACTIV|ITIES|||
|---|---|---|---|---|
||||31.3.23|31.3.22|
||Activity|||f|
|Operations ofThe Way
Operations ofThe Way
Operations ofThe Way
Operations ofThe Way|Membership
fees
Session fees
Catering income
Room hire||4,174
5,257
20,094
91,319|7,725
16,248
7,732|
||||120,844|31,705|
|RAISING FUNDS|||||
|Raising donations
and|legacies||31.3.23|31.3.22|
|Staff costs|||48,447|25,557|
|Support costs|||2,684||
||||51,131|25,557|
##
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##
|||||Support||
|---|---|---|---|---|---|
||||Direct|costs (see||
||||Costs|note 7)|Totals|
|All|charitable|activities|890,291|251,391|1,141,682|
##
|SUPPORT C|OS|TS|||||
|---|---|---|---|---|---|---|
||||||Governance||
||||Management|Other|costs|Totals|
|Raising donations||and legacies||2,684||2,684|
|All charitable|activities||31,073|138,468|81,850|251,391|
||||31,073|141,152|81,850|254,075|
##
##
|Support cost|s, included
i|n the above, are as follows:||||
|---|---|---|---|---|---|
|||||31.3.23|31.3.22|
|||Raising||||
|||donations|All|||
|||and|charitable|Total|Total|
|||legacies|activities|activities|activities|
|Insurance|||31,073|31,073|31,251|
|Premises costs|||25,460|25,460|18,768|
|Licenses|||1,629|1,629|4,187|
|Travel expenses|||21,789|21,789|12,235|
|IT||2,684||2,684|1,454|
|Postage and|stationery||5,680|5,680|12,535|
|Sundries|||8,318|8,318|4,893|
|Recruitment|||64,426|64,426|29,900|
|DBSchecks|||3,382|3,382|322|
|Staff training|||7,657|7,657|245|
|Marketing|||127|127|2,518|
|Governance|costs||14,700|14,700|12,000|
|Bad debts|||820|820||
|Bank charges|||1,337|1,337|1,646|
|Professional|fees||64,993|64,993|49,650|
|||2,684|251,391|254,075|181,604|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)||is stated after charging/(crediting):||||
|||||31.3.23|31.3.22|
|Governance|costs|||14,700|12,000|
|Depreciation|- owned assets|||127,647|128,034|
##
##
##
##
|StafFcosts were as fo|llows:||||
|---|---|---|---|---|
||||31.3.23|31.3.22|
||||f.||
|Wages and salaries
Social security costs
Other pension costs|||541,594
32,942
25,720|484,584
25,340
27,636|
||||600,256|537,560|
|The average
monthly|number ofemployees|during the year was as follows:|||
||||31.3.23|31.3.22|
|Raising funds
Charitable
activities|||1
39|1
35|
||||40|36|
##
|COMPARATIVES FOR THE STATEMENT OF FI|NANCIAL ACTIVITIES|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|fund|funds|
|INCOME AND ENDOWMENTS FROM||||
|Donations
and legacies|441,003|202,057|643,060|
|Charitable
activities||||
|Membership
fees
Session fees|7,725
16,248||7,725
16,248|
|Catering
income|7,732||7,732|
|Other trading
activities|43,145||43,145|
|Total|515,853|202,057|717,910|
|EXPENDITURE ON||||
|Raising funds|14,139|11,418|25,557|
|Charitable
activities||||
|All charitable
activities|848,023|151,272|999,295|
|11.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL|FOR THE STATEMENT OF FINANCIAL|FOR THE STATEMENT OF FINANCIAL|ACTIVITIES- continued|ACTIVITIES- continued||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|fund
6|fundsI|
||Total||||862,162|162,690|1,024,852|
||NET INCOME/(EXPENDITURE)||||(346,309)|39,367|(306,942)|
||RECONCILIATION||OF FUNDS|||||
||Total funds brought|forward|||5,162,606|46,524|5,209,130|
||TOTAL FUNDS CARRIED FORWARD||||4,816,297|85,891|4,902,188|
|12.|TANGIBLE FIXEDASSETS|||||||
|||||||Fixtures||
||||||Long|and||
||||||leasehold
f|fittings|Totals|
||COST|||||||
||At 1 April 2022 and|31 March 2023||5,084,603||243,276|5,327,879|
||DEPRECIATION|||||||
||At 1 April 2022||||620,832|192,251|813,083|
||Charge for year||||101,693|25,954|127,647|
||At 31 March 2023||||722,525|218,205|940,730|
||NET BOOK VALUE|||||||
||At 31 March 2023|||4,362,078||25,071|4,387,149|
||At 31March 2022|||4,463,771||51,025|4,514,796|
|13.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||||||
|||||||31.3.23|31.3.22|
||||||||8|
||Trade debtors|||||26,805|83,838|
||Other debtors|||||2,222|1,952|
||Accrued income|||||20,000||
||Prepayments|||||5,316|18,288|
|||||||54,343|104,078|
##
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||||31.3.23|31.3.22|
|---|---|---|---|---|
|Trade creditors|||30,328|55,048|
|Social security and other||taxes|7,835|6,576|
|Other creditors|||1,953|1,842|
|Accrued expenses|||29,887|13,565|
||||70,003|77,031|
|DEFERRED INCOME|||||
||||31.3.23|31.3.22|
|Balance brought|forward|||19,161|
|Amount
released|to income in the year|||(19,161)|
|Amount
deferred|during|the year|||
##
##
|MOVEME|NT IN FUNDS||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1.4.22|in funds|31.3.23|
|Unrestricted|funds||||
|Unrestricted|funds|352,527|67,216|419,743|
|Designated|funds|4,463,770|(101,6921|4,362,078|
|||4,816,297|(34,476)|4,781,821|
|Restricted funds|||||
|Restricted funds||85,891|(63,326)|22,565|
|TOTAL FUNDS||4,902,188|(97,802)|4,804,386|
##
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds
f|
|Unrestricted
funds|||||||
|Unrestricted
funds||||968,174|(900,958)|67,216|
|Designated|funds||||(101,692)|(101,692)|
|||||968,174|(1,002,650)|(34,476)|
|Restricted|funds||||||
|Restricted|funds|||126,837|(190,163)|(63,326)|
|TOTAL FUNDS||||1,095,011|(1,192,813)|(97,802)|
|Comparatives
for movement|||in funds||||
||||||Net||
||||||movement|At|
|||||At 1.4.21|in funds|31.3.22|
|||||||8|
|Unrestricted
funds|||||||
|Unrestricted|funds|||597,143|(244,617)|352,526|
|Designated|funds|||4,565,463|(101,692)|4,463,771|
|||||5,162,606|(346,309)|4,816,297|
|Restricted|funds||||||
|Restricted|funds|||46,524|39,367|85,891|
|TOTAL FUNDS||||5,209,130|(306,942)|4,902,188|
|Comparative
net movement||in|funds, included|in the above are as follows:|||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|||||8|||
|Unrestricted
funds|||||||
|Unrestricted|funds|||515,853|(760,470)|(244,617)|
|Designated|funds||||(101,692)|(101,692)|
|||||515,853|(862,162)|(346,309)|
|Restricted|funds||||||
|Restricted|funds|||202,057|(162,690)|39,367|
|TOTAL FUNDS||||717,910|(1,024,852)|(306,942)|
##
##
||||As at I||||As at 31|
|---|---|---|---|---|---|---|---|
||||April||||March|
|MOVEMENT IN FUNDS|||2022|Income|Expenditure|Transfers|2023|
|Unrestricted
funds||||||||
|General funds- all funds|||352,527|968,174|(900,958)||419,743|
|Designated
funds - building project|||4,463,770||(101,692)||4,362,078|
||||4,816,297|968,174|(1,002,650)||4,781,821|
|Restricted funds||||||||
|BBCChildren
in Need|||4,719||(4,719)|||
|BBCChildren
in Need -|Cost of|||||||
|Living||||500|(500)|||
|Mentoring|||29,474|40,000|(69,474)|||
|Awards for All|||3,738||(3,738)|||
|Council Holiday
Club|||4,832||(4,832)|||
|Council- HAF|||34,783||(34,783)|||
|D'oyly Carte Trust Music/Arts||||||||
|project|||3,000||(3,000)|||
|The Roger dc Douglas Turner||||||||
|Charitable
Trust|||3,000||(3,000)|||
|Keith Rae Charitable
Trust||||440|(440)|||
|Gimmit Trust Adapts||||2,000|(2,000)|||
|Holiday Club - Climbing||||700|(700)|||
|Burberry - Arts Project
Peter Harrison Foundation||||5,000
2,468|(5,000)||2,468|
|Groundwork
UK Tesco||||500|(500)|||
|Youth Endowment
Fund|||2,345||(2,345)|||
|Tettenhal
I Rotary
Grantham
Yorke||||500
3,000|(500)
(1,203)||1,797|
|Eveson Trust - Growing|Futures|||10,000|||10,000|
|Culture ofhealth - OnSide||||17,276|(17,276)|||
|Onside Holiday Hunger|Grant|||29,034|(29,034)|||
|Keith Rae Trust - Circus|Project|||800|||800|
|The Football Foundation||||7,119|(7,119)|||
|UFC - Ultimate
Fighting||||||||
|Championship||||7,500|||7,500|
||||85,891|126,837|(190,163)||22,565|
||||Asst I||||As at 31|
||||April||||March|
|PRIOR YEAR|||2021|Income|Expenditure|Transfers|2022|
|Unrestricted
funds||||||||
|General funds- all funds|||597,143|515,853|(760,470)||352,526|
|Designated
funds - building||project|4,565,463||(101,692)||4,463,771|
||||5,162,606|515,853|(862,162)||4,816,297|
##
##
|BBCChildren
in|Need|(4,230)|54,852|(45,903)|4,719|
|---|---|---|---|---|---|
|Youth Endowment
Fund||2,345|||2,345|
|Mentoring||44,671|100,000|(115,197)|29,474|
|Awards
for All||3,738|||3,738|
|Council Holiday|Club||4,832||4,832|
|Council - HAF|||34,783||34,783|
|Bite Size Pieces|||500|(500)||
|Job Retention
Scheme|||1,090|(1,090)||
|D'oyly Carte Trust Music/Arts||||||
|Project|||3,000||3,000|
|The Roger A, Douglas Turner||||||
|Charitable
Trust|||3,000||3,000|
|||46,524|202,057|(162,690)|85,891|
##
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##
##
##
|||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||||f|||
|INCOME|AND ENDOWMENTS|||||||
|Donations|and|legacibs||||||
|Donations||||278,129||278,129|162,330|
|Gilt aid||||20,000||20,000|54|
|Grants||||538,140|126,837|664,977|4$0,676|
|||||836,269|126,837|963,106|643,060|
|Other trading||activities||||||
|Fundraising|events||||||288|
|Room hire||||9,193||9,193|42,857|
|||||9,193||9,193|43,145|
|Charitable|activities|||||||
|Operations|ofThe Way|||120,844||120,844|31,705|
|Other income||||||||
|Bank Interest Received||||1,868||1,868||
|Total incoming||resources||968,174|126,837|1,095,011|717,910|
|EXPENDITURE||||||||
|Raising donations|||and legacies|||||
|Wages and|salaries|||41,447||41,447|25,557|
|Consultancy||||7,000||7,000||
|||||4$,447||48,447|25,557|
|Charitable|activities|||||||
|Wages and|salaries|||417,118|141,690|558,808|521,844|
|Youth Project Delivery Expense||||8,454|14,517|22,971|30,242|
|Travel expenses||||790||790|1,060|
|Premises costs||||100,036|1,804|101,840|80,654|
|IT||||15,206||15,206|8,239|
|Catering||||7,873|30,156|38,029|26,618|
|Onside Youth Zone Services||||25,000||25,000|21,000|
|Depreciation oftangible fixed assets||||127,647||127,647|128,034|
|||||702,124|188,167|$90,291|817,691|
|Support costs||||||||
|Management||||||||
|Insurance||||31,073||31,073|31,251|
##
##
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|fundsf|funds
f,|
|Management||||||
|Other||||||
|Premises costs||25,460||25,460|18,768|
|Licenses||1,629||1,629|4,187|
|Travel expenses||21,789||21,789|12,235|
|IT||2,684||2,684|1,454|
|Postage and stationery
Sundries||4,684
7,318|996
1,000|5,680
8,318|12,535
4,893|
|Recruitment||64,426||64,42(|29,900|
|DBSchecks||3,382||3,382|322|
|StafFtraining
Marketing||7,657
127||7,657
127|245
2,518|
|||139,156|1,996|141,152|87,057|
|Governance|costs|||||
|Governance|costs|14,700||14,700|12,000|
|Bad debts||820||820||
|Bank charges||1,337||1,337|1,646|
|Professional|fees|64,993||64,993|49,650|
|||81,850||81,850|63,296|
|Total resources expended||1,002,650|190,163|1,192,813|1,024,852|
|Net (expenditure)/income||(34,476)|(63,326)|(97,802)|(306,942)|