Chartty reglstratlon number 1151711 (England and Wales SPECTRUM DAYS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
SPECTRUM DAYS LEGAL AND ADMINISTRATIVE INFORMATION Tnjstees Derek Radciiffe Diane Hughos Helen Kimberfey (Appointed 2 December 20241 Charity number 1151711 Principal address Old Coach Road DrO11¢h Worcestershire WR9 8BB Audltor Ormerod Rutter Limited Chartered Accountants The Oakley Kidderminsler Road Dro1ICh Worceslershi INR9 9AY Senior management team Maggie Allen- Chief Executive Officer Amy Rose - Service Lead Maria Watts- Quality Assurance Manager Josh Swinson-Davis- Training Manager Harry Rose- Finance Manag8rllT Adminslralor Bankers CAF Bank 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ HSBC Bank Pl¢ 6 Broad Street Worc$slgr Worcestershire WR1 2EJ
SPECTRUM DAYS CONTENTS Page Trustees. report Independent audilorfs report 8-10 statement of financial aclivilie5 11 Balance sheet 12 Slalemenl of cash flows 13 Notes to the financial stslements 14-25
SPECTRUM DAYS TRUSTEES. REPORT FOR THE YEAR ENDED 30APRIL 2024 The Trustees present their annual report and financial statements for the year ended 30 April 2024. The financial statements have en prepared in accordance wllh the accounting policies set out In note 1 to the rinancial ststemenls and comply with the charills governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities pieparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" leffectsve 1 January 20191. Objectives and actlvllles The Trustees have paid due regard to guidance issued by the Charlty Commlsslon In decidSng what act[te$ the charity should undertake. Our charity's purposes a$ set out in the objects contained In the company's memorandum of assoclalion are to.. 11 Promote and protect the physical and mentsl health of sufferers of PMLD IProfL)und and Multiple Learning Disabililiesl in Worcestershire and surrounding areas through the provision of financial assistance. support, education and practical advice. 21 To advance the education of the general public in all areas relating to PMLD to further or benefit the residents of Worcestershire and the surrounding areas, without distinction of sgx, sgxual orienlalion, race or of political, religious or other opinions by associating together the said residents and the local authorities. voluntary and other organisalions in a common effort lo advance education and lo provide faalities in the interests of soaal welfare for recreation leisure time occupatlon with the objective of improving the conditions of life for the residents. In furtherance of these objects but not otherwise. the Truslees shall have power lo establish or secure the establishment of a community centre and lo mainl8in Qr manage or co.operate wf(h any stalulory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. Summary Spectrum Days has been established to provide specialist support lo people with PMLD and their familles from birth, through life with.. Short Breaks, Advisory service, Counselling, The PMLD Hub - Resources, Equipment and Additional Services. To provide people with PMLD wilh PurposelMeaninglLivinglDignily. Our building is based in Dro11Ch where members attend for daytime activities including accessing the eommunity. Our rea¢h is across Vvorceslershire for all services and includes a specialist transport system and hol mid-day meals.
SPECTRUM DAYS TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Service Delive Membership During this year, the high level of interest in the service has continued and we had a relatively large intake of members during the summer 2023. In preparation, the management team reviewed staffing and resources lo ensure sufficient were in place. Following the transition of thege new members there was a period of adjustment thin the service. Although there are aiways practical elements lo consider in service delivery, every new member that joins. enriches Provision with their unique personality. Everyone enjoys getting to know them and helping them to settle in. Transport The transport system and associated staff are vital to seTvice delivery. Vve pick our members up from 811 over Worcestershire lo benefit from the wde range of activities we deliver in our building and the comrnunity. Wilhoul transport these activities would not be accessible. As our membership grows and the spread across the county continues, ensuring we have suffi¢ignl vehicles and stsff in place. is a continual process. Compllanco In July 2023 we welcomed a Quality Assurance Manager to the senior team, who focusses on cornpliance across the services. This recruitment released the CEO from auditing and reporting. The Board of Trustees The board has maintained a membership of 3 trustees and a actively recruiting new members.
SPECTRUM DAYS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Staff Recruitment and Retention We have been moro successfLfl with recruitment this year and we are very gratefvl to our staff team, who have played an active part by promotlng the charity in the local community and encouraging their contacts lo make job applications. We use many resources in preparing and developing our staff lo work with our very special membership, so a good level of retention is of vitsl importance. This supports the delivery of a high-quality experience for our members. Stsff retention has also improved. and we have a fantastic team who are central to service delivery. BNI We successfully applied for the chapter charity seal at Rainbtsw IWor¢esler} Business Networking Intemalional IBNII. This gives us all the advantsg8s of being part of a networking group on a charitable basis. The benefits have been numerous through the support ol a number of business people with a wide range of skills. We also have a¢¢ess to a wider community through other chapters in the region. Fundraisin Government We were succe5sfiJl with an application lo the government lo support the charity with the cost-of-living crisis. This was in response al a national level lo the difficulties within the charitable sector caused by the cost-of-living crisis and the rise in the living wage. Neither of these costs are being matched wlh payments from social care or the NHS. Resonance We have a long-stsnding relationship wf(h Resonance who have provided us with loans to fund the purchase of minibuses over a number of years. Resonance is a social impact propety fund manager, launched in 2002 with the mission of connecting capital to social enterprise. We were successfvl with an application lo Resonance in connection with the cost-of4iving crisis. We provide our members with some protection from the impact of the current financial climate through our service delivery. While mgmbers ar9 using our facility. the financial burden carried by the families through the cosl of running the home is reduced. This grant covered important improvements lo the building 1¢h increases the numbers using the service. spreading the financial benefit lo a greater number of people. Worcestar Ukelele Group We have enjoyed many charitable perfomiances from Worcester Ukelele Group, but It was an unexwed bonus when they made us their Charity of the year. This not only carries financlal benefits bul promotes the charfty throughout Worcester. There are regular highly enjoyable, performances made by the 9roup lo 8 variety of communities. Nlght Sky Foundation We received funding from the Night Sky Foundation lo purchase mobile phones for each of our members. giving access to onllne activities and supporting the use of management software which improves our compliance. 10-year Blrthday After discussion with the staff team, work began on a birthday celebration. The consensus was that our membership should be al the core. with an emphasis on having fun. With such a creative team it was easy to come up with a range of aclivilies. We also invited other groups lo tske part in our paty which took place in October 2023. 11 was well attended and the feedback was great.
SPECTRUM DAYS TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Oliver McGowan Training Through Spectrum Days our training manager has been commissioned by the NHS lo deliver Oliver McGowan Irabning. This is a great achievement and may lead lo other training opportunities which could provide an additional Income stream. 11 also makes a valuable contribution to the social care WOTkforce and enhances the reputation of the eharily wth our eolleagues working in the sector. Devolopment Meetlngs Development has been curtailed this year in response to the Cosl-of-living crisis. The focus has changed from developing the charty activities lo sourcing alternative funding opportunities. Meetings have ¢arried on, but the emphasis has been on sustaining our aclivilies. With a vulnerable population with limited ability lo communicate safeguarding is alway$ an important agenda item. This always has priority above any other issue and il takes a lot of the team's lime to respond effectively. Summary Thanks lo the support of the Trustees, the management team, our staff and funders the charity has thrived. despite the challenges we have maintained a positive lively slimulaling environment for our members. Interest for the service has continued during the year and we have planned for increased membership wth o I)rough transitions process. training, resources and adaptions in the activity rooms.
SPECTRUM DAYS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Achlevements and performance Flnanclal review During the year lo 30 April 2024. the charty received donations, gifts and client income amounting to £1,347,613 {2023'. £1.040,0791. out of which £1.256,283 12023.. £1.033,7091 was spent in pursuit of the Charity's objects. Therefore. generating a surplus of £91,330 12023.. surplus of £6,370). As al 30 April 2024, £29,28612023." £4,081) was held as restricted fvnds and £170,61812023-. £104.493} was held as unrestricted ftjnds. RosoNes policy 11 is the policy of the charity that unreslricled funds which have not been designated for a specific use should be maintained al a level appropriate lo the charity's needs and ongoing obligakn'ons. The Trustees consider that reserves al this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current adivities on a temporary basis while consideration is given lo ways in which additional funds may be raised. The charity wishes lo work towards a reserve of six months worth of expenditure. Planned activities for 2024-25 The support from the board of trustees brings different experiences and perspectives. which has led to the review of many aspects of service delivery. Thi5 wll affect planning for the future, the business plan and fundraisin9 activities. We look forward to the coming year and implernenling exciting opportunf(ies wilh the collective support of the board and the management team. Due lo thi5 pending work, there are few servi¢$ plans lo report on. 11 is likely we will carry some of the plans from 2022-23, including a plan to 'Make the Mosv of our buikling, so that we can continue to serve our increasing membershlp. Due lo increased membership. we are running out of space and our staff facilities need improving. ile service plans are being developed. there are allemative fundraising opportunities lo be considered other than the traditional methods we currently employ.. Expanding training provision and inve$ligaling government initiatives sueh as 'Work Well. to provide additional sustainable income. Promote the use of Easyfundraising to our stakehol(Jers. This is the UK'S biggest charity shopping sile, whith partners with over 7,000 brands who donate a percentage of expenditure lo a cause of choice. This doesn't cost any extra to our supporters. because the cost is covered by the brand. Thiough connections Imlhin Busine55 Networking Internation. promoting the charity as a potenb.al beneficiary of donations, so that participants benefit from tax relief. Summa Next year will be about.. Developing plans Reviewing building basedlcommtjnty activities lo glve our members the best possible experience Staff retention Developing soknre and management solutions Working on auditing methods and qualty control These elements contribute lo the ultimate outcome of ensuring our members 8re'. Safe. comfortable and fulfilled Part of the community and have the opportunity to build fTiendships Able lo partake in speaalisl *ivities
SPECTRUM DAYS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Structure, governance and management Spectrum Days is a Charitsble Incorporated Organisalion ICIOI registered in England antl Wdes. The charity is governed by il's constitution adopted on 1 April 2013. The Trustees who Served during the year and up to the dale of slgnature of the financial statements were.. Derek Radcliffe Diane Hughes Stuart Kilmisler Mark Taylor Helen Kimberley (Resigned 20 June 2023) {Resigned 19 December 20241 {Appointed 2 December 20241 There is no formal method of advertising for new trustees.. any prospective trustee is recruited via word of moLtrth. Prospective trustees are invf(ed lo meet wlh other trustees and senior management to discuss the Tole and the charity's aims and objectives. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee lo contribute £1 in the event of a wnding up. nd Res onsibilltl Mana We relain a small team managing a large amount of compliance. Our aims are lo provide.. a happy environment where staff feel supported and valued training that is managed lo maximise skills and experience a firm route IhTough the employment exp&rien¢e Staff The staff team are central to service delivery and many resources are used in development of individuals. A good level ol retention is of vital importance lo providing a high-qualily experience for our members. A relenlbon slr81egy was developed, and a range of Iow-COs1 solution5 were implemented. As a result, retention levels improved during the year. Community events were still impacted by COVID wth few opportunities to engage with others. Virtual meetings were preferred which don't give Ihg same opportunity for meaningful interaction. Develo ment Meetln Regular development meetings Continued lo lake place.
SPECTRUM DAYS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 Statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees, Report and the financial slalemenls in accordanc9 with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting practi). The law applicable to charities in England and Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the chanly and of the incomiTrJ resources and application of resources of the charity for that year. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly; observe the methods and principles in the Charities SORP.. make judgements anc5 estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements,. and prepare the finanaal slalemenls on the going concem basis unless il is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounb.ng records that disclose with reasonable acwracy al any lime the financial position of the charity and enable them lo ensure that the financial statemonls comply with the Ch8rities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the 8ssels of the charity and hence for taking reasonable steps for the prevention and detection of fr8uO and other egularitIes. The Trustees, report was approved by Ihg Board of Trustees. Derek Radcliffe Chalr Dale..
SPECTRUM DAYS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SPECTRUM DAYS Oplnlon We have audited the financial slalemenls ol Spethum Days (the 'charily'l for the year ended 30 Aprtl 2024 whith comprise the statement of financial activities, the balance sheet, the statement of cash flows and note5 to the finanaal slalements. including significant accounting policies. The financial reporting framewoik that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, inciuding Financial Reporting Standard 102 The Finencial Reporting Standard applicable in the UK and Republ of lrnland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financi81 statements.. give a true and fair view of the stale of the Charity's affairs as at 30 April 2024 and of ils incoming resour$ and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been ppared in accordance wth the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS IUKII and applicable law. Our responsibilities under those standards ale further described in the Auditoffs Trsponsibilitiès for the audrf of lh8 financi81 slalemenls section of our report. We are independent of the charity in aGcordance with the ethical requirements that are relevant lo our audit of the financlal statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibillties in accordance with these requirements. We believe that the audit evidence have obtained is sufficient and appropriate lo provide o basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainlles relating to events or conditions that, individually or collectively. may cast significant dgubt on the charity's ability lo continue as a going concern for a period of al least twelve months from when the financial statements are aulhori5ed for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. other inforrnatlon The other information Comprises the information included in the annual report other than the financial slalemenls and our auditor's report Iheteon. The Trustees are responsible for the other information contaned wilhir) the annual report. Our opinion on the financial slalemenls does not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is rnalerially inconsistent wth the financial statements or our knowledge obtained in the course of the audit, or otherwse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we ¢on¢lude that there is maleiial misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Mattets on which we are required to report by exception We have nothing lo report in spect of the following matters in relation to whith the Charities (Accounts and Reports) Regulations 2008 requires us lo report lo you if, in our opinion.. the infomiation given in the financial slalements is inconwslenl in any material respect with the Twstees, report., or sufficAenl accounting records have not been kept; or the financial statements are not in agreement with the accounb'ng records.. or we have not received all the infomialion and explanations we require for our audit.
SPECTRUM DAYS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SPECTRUM DAYS RpOnsIbIlitieS of Trustees As explained more fully in the slalemenl of Trustees. responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstalemenl, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unl¢ss the Trustees either intend lo cease operations. or have no realistic allernalive bul lo do 50. Audltorfs responslbllltles for the audit of the financial statements We have been appointed as auditar under Section 144 of the Charities Act 2011 and report in accordance wth the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about ether the financial statements as a whole are free from material misslalement, whether due lo fraud or error. and lo issue an audilorfs report that includes our opinion. Reasonable assurance is a high levèl of assurance bul is not a guarantee that an audit conducted in accordance th ISAS IUKI will always delecl a material misslalemenl when it exists. Misslatemenls can arise from fraud or error and are Considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalements. The extent lo which our procedures are Capable of detecting irregularities, including fraud, is detailed below. Based on our understanding of the charitable company. we identified the principal risks of non-compliance with laws and regulations including those that have a diiect impact on the preparation of the financial slalements. an inadequate rating following inspections by the Care Quality Comrnission and the extent to which non-compliance rnighl have a material effect on the financial slatemenls. Audit procedures performed included discussions wlh management, review of board meeting minutes, lesling of journals, designing and performing audit procedures and challenging assumptions and judgements madfj by management in relation to 8¢counling e51imate5. There are inherent limltalions in the audit procedures deSCrid above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transaetions reflected in the financial slalemenls. Also, the risk of not deleding a material misslalement due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may involvg deliberate concealment by, for example. forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's webslte al.. http$'.11 www.frc.org.uklaudilorSTesponsibilili¢s. This description forms part of our auditor's pOrt. Other matters Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities.. Stslement of Recommended PTaclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in preferen to the Accounting and Reporting by Charities.. Statement of Recommended Pral¢e issued on 1 April 2005 which is referred to in the extant regulations bul has now been wsthdrawn. This has been done in ord&r for the financial stslements to provide a true and fair view in accordance with current GenerallyAccepled Accounting Practice.
SPECTRUM DAYS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SPECTRUM DAYS Use of our r•port Thls report is made solely to the tharfty's trustees. gs a body. in accordance wlth Part 4 of the Charities (Accounts nd Reports) Regulations 2008. Our audll work has been undertaken 50 that we rnighl siale lo the Charity's Iruslees those matters we are rèquiTed lo slate to them in an auditor's report and for no other purpose. To thè fulle51 extent pem)itted by law, we do not accept or a55urne Tesponsibility lo anyone other than the charity 8nd the charty's trustees as a body. for our atjdil worl for this report, or for the opinions we have formed. Colm McGrory FCA (Senlor Statutory Auditor) for and on behalf of .a..7../o.a.12 020 Chartered Accountants StatutoryAuditor OrmeTod Rutter is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company undèr s8¢tion 1212 of the Companies Acl 2006. 1.0-
SPECTRUM DAYS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Note5 Income and endowments from: Donations and legades Charitable activities Investments Other income 39,270 1.253.913 351 12.639 41,440 80.710 1,253,913 351 12,639 20,963 1,017,196 58 1.862 22,825 1,017,196 58 Total income 1,306,173 41.440 1,347,e13 1,038,217 1,882 1,040,079 Expendlture on: Charitable activities 1,240,048 16,235 1.258,283 1,030,008 3,701 1,033,709 Total expendlture 1,240.048 16,235 1,256,283 1,030.008 3,701 1,033,709 Net income and movement In funds 66.125 25,205 91,330 8,209 11,8391 6.370 Reconciliation of funds: Fund balances al 1 May 2023 104,493 4.081 108,574 96,284 5,920 102.204 Fund balances at 30 ApTiI 2024 170,618 29,286 199,904 104,493 4.081 108,574 The slalemenl of financlal actlvitles includes all gains and losses recognised in the yeaT. All Income and expenditure derive from continuing aclivilies. 11
SPECTRUM DAYS BALANCE SHEET AS AT30 APRIL 2024 2024 2023 Notes Flxed assets Tangible assets 14 158,287 180,848 Current assets Debtors Cash al bank and in hand 15 165,411 150.133 134.590 78.683 315,544 213.273 Credltors: amount$ falllng due wtthln one year 17 (98,2771 (67.912} Net current assets 217.267 145,361 Total assets less Current Ilabllltles 375.554 326,209 Creditors: amounts falllng due after more than one year 18 1175,6501 1217,635) Net assets 199.904 108,574 The funds of the charlty Reslricled income funds Unrestricted funds 19 20 29,286 170,618 4,081 104,493 199,904 108,574 The financial statements were approved by the Trustees on ........ Derek Raddiffe Chair
SPECTRUM DAYS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2024 2024 2023 Notes Cash flows from operating actlvlties Cash generated fromllabsorbed by) operations 94.658 1173.3021 Investing actlvlties Purchase of tangible fixed assets Investment income received 11,5471 351 {97.8031 58 Net cash used In investlng al¥]e$ 11,1961 197.7451 Financing a¢tlvities Proceeds from borrowings Nel movement in borrowngs 100,000 142,322 122,012} Net cash {used Inllgenerated from financing activitles 122.0121 242,322 Net Increaselldecreasel In ¢a$h and ¢a$h 9qulvalgnts 71,450 128,725} Cash and cash equivalents al beginning of year 78,6e3 107,408 Cash and Cash equlvalents at end of year 150,133 78,683 13-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30APRIL 2024 Accountlng pollcles Charity Infomiation Spectrum Days is a Charitable Incorporated Organisalion ICIOI. registered in England and Wales. The registered office is Droitwich Youth House, Old Coach Road. Droitw"ch, Worcestershire. WR9 88B. The charity 15 govemed by il's conslitulign adopted on 1 April 2013. 1.1 Accounting ¢onvention The financial slalemenls have been prepaied in accordance with the charity's conslilulior). the Charities Act 2011. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 1 Q2.1 and the Charities SORP 'Accounling and RePOrtn9 by Charities." Slalemenl of Reconmended Praclicg applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The charlly is a Public Benefit Entity as defined by FRS 102. The financial ststements are prepared in sleding, which is the functional currency of the charity. Monolary amounts in these financi statements are rounded lo the nea$1 £. The financial statements have been prepared under the historical cost convention. The piincipal accounting policies adopted are set out bglow. 1.2 Golng concem Al the time of approving the financial stalemenls, the Trustees have a reasonable expectation that the ¢harily has adequate resources lo continue in operational existence for the foreseeable future. Thu5 the Trustees continue to adopt the going conrn basis of accounting in preparing the financial ststemenls. 1.3 Charltsble funds Unrestricted funds are available for use al the discretion of the Trustees in fvrtherance of their charitable obJ"ectives. Reslricled funds a subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in tho notes lo the financial statements. Endowment fijnds are subject lo specific condf(ions by donors that the capital must be maintained by the charity. 1.4 Incomo Income is recognised whèn the charity is legally enlilled to il 8fter any performance conditions have been met, the amounts can be measured reliably. and il is probable that income will be received. C8sh donations are recogni5ed on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Ineome lax recoverable in relatlon lo donations CeIVed under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise rf the charity has been notified ol an impending dlslribulion. the amount is known, and receipt is expected. K the amount is not known, the legacy is treated 88 a contingent asset. 14-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 30APRIL 2024 Accounting policies (Contlnuedl 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. "Cost of charitable aclivilies" includes the costs of all employment, operating and propety resources directly deployed lo achieve the objectives of the charity. In addition, loan interest is shown separately. All costs are shown inclusive of VAT which is not recoverable. 1.6 Tangible flxed assets Tangible fixed assets are initially measured al wst and subsequently measured al cost or valuatlon, net of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their rosidual values over their useful lives on the following bases.. Computers Motor vehicles Motor vehicle clamps 33% on cost 10Qh _ 25Oh on cost 25% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the Carrying value of the asset, and is recognised in the slalement of financial activities. 11 is the charity's policy to reco9nise capitsl purchases of above £1.000 wthin tsngible fixed assets. 1.7 Impalmient of fixed assets At each reporting end date, the charity revlews the carrying amounts of its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any suth indication exists. the recoverable amount of the asset is eslimaled in order lo determine the extent of the irnpaimient loss lif any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held al call wth banks, other short-lerm liquid investments with original malurllieg of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabllities. 1.9 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial inslrumenls. Finanaal instruments are recognised In the charity's balance sheet when the charity becomes party to the contractual provisions of the inslrumet)l. Financial assets and liabilities are offset. with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the Ilabillty slmultaneously. 8asic financlal assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction pri including transaction costs and are subsequently carried al amortised Cost using the effective interest method unless the arrangernenl constilules a financing Iransadion. where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Fuianaal assets classified as receivable within one year are not amortised. 15-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accounting poll¢lg$ IContlnugd} Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement ¢onslitules a financing transaction. where the debt instrument is measured al the present value of the future payments discounted al a market rale of interest. Financial liabilities da55ified as payable within one year are not amort15ed. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wlhin one year or less. If not, they are presented as non-currenl liabililles. Trade creditois are recognised inrtially al transaction price and subsequently measured at amorti8ed cost uslng the effectSve interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the chaiity's conlr8CtU81 obligations expire or are discharged OT cancelled. 1.10 Employee beneftts The cost of any unused holiday gntillomenl is recognised in the period in which the employee's services are Teceived. 1.11 Retlr8ment benefits Payments to defined contrlbution retirement benefit schemes are charged a$ an expense as they fo11 due. Critical accounting estimat9$ and ludgomènts In the application of the charity's accounting policies, the Trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assurnptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period. or in the perlod of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants Donated goods and services 5,255 34.015 364 41.076 5.819 75.091 10,739 6,500 1.862 12,601 6,500 3,724 3.724 39.270 41,440 80,710 20,963 1,862 22,825 16-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Charltable actSvltles 2024 2023 Clifynl InMe 1,253,913 1.017.196 Income from Investments Unr&strlcted Unrestrlcted funds funds 2024 2023 Interest receivable 351 58 Other Income Unrestricted Unrestricted funds funds 2024 2023 Other income 12,639
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 Charitable actlvltles 2024 2023 Staff costs Depreciation and impairment Operating costs Property costs Loan interest Development costs 947,011 24,108 180.278 58.250 10.039 21.142 758,990 12,078 165,581 59,782 10,380 12,098 1,240,828 1,018,869 Share of support costs {see note 81 Share of governance G05ts15ee note 81 10,235 5,220 9,786 5,034 1,256,283 1,033,709 Analy$l$ by fund Unrestricted funds ReslTlCted funds 1,240,048 1.030,008 16,235 3,701 1,256,283 1,033,709 Support costs allocated to activities 2024 2023 Accountancy fees Resonance loan fees Governance costs 4,785 5,450 5,220 4,347 5.439 5,034 15,455 14,820 Analysed betweèn: Charitable activlies 15,455 14,820 2024 2023 Governance costs comprise: Audit fees Meeting costs 5,160 60 4,800 234 5,220 5,034 18-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Net movoment In funds 2024 2023 Net movement in funds is slated after chargingl{crediling) Depreciation of owned tangible fixed assets Operating lease charges Audit feesl Independant examination fees 24.108 8.009 5,160 12,078 8.009 4,800 10 Trustees None of the Trustees lor any persons connected %wth them) received any remuneration or benefits from the charity during the year. 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Numb8r 49 41 Employment costs 2024 2023 Wages and salaries Social security costs other pension costs Other staff costs 848.789 54,925 19,687 23,610 492,012 32,775 11,291 24,179 947,011 758,990 There were no employee5 whose annual remuneration was more than £60,000. 12 Key management personnel Key management personnel of the charity comprised of 5 employees {2023."21. Total key management remuneration was £185,498 (2023.. £89,433). 13 Taxatlon The charity Is exempt from tsx on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exlenl that these are applied lo ils charitable objects. 19-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 14 Tanglble fixed assets Computws Motor Motor vehlcle vehicles clamps Totsl Cost Al 1 May 2023 Additions Dlsposals 6.355 1,547 220,554 4.523 231,432 1,547 131,998) 131,998} At 30 April 2024 7,902 188.556 4.523 200,981 Depreciation and ImpaSrment Al 1 May 2023 Depreciation charged in the year Eliminated in respect of disposals 883 2,505 49.607 20.472 131,9981 94 1,131 5Q,584 24,108 131.9981 At 30April 2024 3.388 38,081 1.225 42.694 Carrylng amount At 30 April 2024 4,514 1 $0,475 3,298 158.287 AI 30 April 2023 5,472 170,947 4.429 180.848 16 Debtors 2024 2023 Amounts falling dug wlthin one year: Trade debtors Other debtors Prepayments and accrued InMe 122,552 20,001 22,858 117,480 132 16.978 165,411 134,590 16 Loans and overdrafts 2024 2023 Other loans Loans from related parties 32.104 188,206 200,001 42,321 220.310 242.322 Payable within one year Payable after one year 44.660 175,650 24,887 217,835 -20-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 17 Creditors: amounts falling due wlthln one year 2024 2023 Borrowings Trade ¢ditOrS Other creditors Accruals and deferred income 44,660 212 22,510 30,895 24,687 18,869 24,356 98,277 67,912 18 Crgdllors.. amounts falllng due after more than one year 2024 2023 Borrowings 175,650 217,635 21
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SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 20 Unrg$trf¢ted funds The unresliicted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unreslricled funds by the Iruslees for specffic purposes. At 1 May 2023 Incomlng resources Resouree$ expended At 30 Aprll 2024 General funds 104.493 1,306.173 11.240.048) 170,618 Previous year: At 1 May 2022 Incoming resources Resources expended At 30 Aprll 2023 General funds 96,284 1.038.217 11,030,008) 104,d93 21 Analysis of net assets betwoen funds Unrestrlcted funds 2024 Restrlcted funds 2024 Total 2024 At 30 Aprll 2024: Tangible assets Current assetsl{liabililiesl Long lemi liabilities 158.287 187,981 1175.6501 158,287 217,267 {175,6501 29.286 170,618 29,286 199,904 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 30 Aprti 2023: Tangible assets Current as5elsllliabililiesl Long term liabilities 180,848 141,2eo 1217,6351 180,848 145,361 1217,6351 4,081 104,493 4,081 108,574 -24-
SPECTRUM DAYS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 22 Operating lease commrtment5 2024 2023 thin one year Between two and five years In over five years 20,864 80,864 278.333 20,864 81,728 3Q3,389 380,061 405,981 23 Related party transactions Maggie Allen, the Chief Executive Officer of the charity and hei husband, Keith Allen. a former Trustee, have made personal loan5 to the charity. The value oulstsnding as al 30 April 2024 is £26,242 12023.. £37.2531. Interest has been paid totalling £4,99412023'. £3,061) for the year. A personal loan, a(fvanced in 2014, of £10,000 was made by the now deceased Stephen Carter, a former Trustee and brother of Maggie Allen. This 15 year loan is being repaid lo his estate al £91 per month and as at 30 April 2024, £4,31712023'. £5.0651 principal was oulslanding. Cash g8nerated fromllabsorbed by) operallon$ 2024 2023 Surplus for the year 91,330 6.370 Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tsngible fixed assets 13511 24,108 158} 12.078 Movements In working capital- (Increase) in debtors Increasel{decreasel in creditors 130.8211 10,392 {20.512} {171.180} Cash generated froml{absorl)ed byl operatlon$ 94,658 {173.302} 26 Analys1$ of changes in net Idebtllfunds At 1 May 2023 Ca$h fl¢Jws At 30 Aprfl 2024 Cash al bank and in hand 78,683 71.450 150.133 Loans falling due wthin one year Loans falling due after more than one year 124,6871 1217,635) 119.9731 41.985 144.66Q) 1175.650) 1163,6391 93,462 170,177) -25-