Charity registration number 1153923 (England and Wales)
THE WELLSPRING COMMUNITY BRIGHTON
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE WELLSPRING COMMUNITY BRIGHTON
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Ben Gray |
|---|---|
| Katy Gray | |
| Lara Manighetti | |
| Christopher Manighetti | |
| Howard Davies | |
| Charity number | 1153923 |
| Registered office | 1 Elm Grove |
| Brighton | |
| East Sussex | |
| BN2 3ET | |
| Independent examiner | Darren Harding ACA FCCA DChA |
| Richard Place Dobson Services Limited | |
| 1-7 Station Road | |
| Crawley | |
| West Sussex | |
| RH10 1HT |
THE WELLSPRING COMMUNITY BRIGHTON
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
THE WELLSPRING COMMUNITY BRIGHTON
TRUSTEES REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their annual report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charitable Incorporated Organisation's foundation constitution, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
The Charitable Incorporated Organisation's objects are:
1, the furthering and advancement of the Roman Catholic Religion and Benedictine Spirituality by in particular (but not limited to) teaching, pastoral care and other apostolic projects and to maintain those, including members of the Charity, engaged in such work.
2, such other purposes that are charitable in English Law whether or not directly connected with the Roman Catholic Church.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charitable Incorporated Organisation should undertake.
In order to fulfil these objectives with particular consideration as to how they serve and benefit others, the trustees have been directing the charity in a wide range of activities over the course of this year. These activities are reviewed on a rolling programme and changed, developed or dropped as is appropriate. This enables us to ensure that we are indeed continuing to operate in line with our charitable objectives.
Achievements and performance
Overview
In 2023–2024, the Wellspring Community has continued to pursue its charitable aims by providing formation, spiritual support, and community life for young adults and families across the Diocese of Arundel & Brighton. Our activities have been grounded in the Catholic tradition and shaped by a commitment to public benefit through education, pastoral care, and the building of community. We are especially committed to reaching those who may be on the margins of parish life, providing opportunities for personal and spiritual growth, formation in faith, and meaningful relationships.
Family Ministry
Catechesis of the Good Shepherd (CGS)
This year saw the successful launch of a CGS atrium for 4–6 year olds at Worth Abbey, offering a unique, contemplative approach to faith formation rooted in Scripture and Liturgy. The group has run weekly and been deeply appreciated by both children and parents. We are confident that this early investment in children’s spiritual lives will bear long-term fruit.
In addition to running the atrium, we developed and delivered Level 1 (Part 2) training for catechists. Over 25 participants took part, including members of our team and others from the wider area, equipping more adults to serve children through this approach. This development of lay leadership and formation is a vital contribution to the life of the local Church.
Men's Group
Our monthly men’s group, launched in early 2022, has grown significantly over the past year—from 5 participants to regularly over 30 men. Evenings typically include shared prayer, a meal, discussion, games, and spiritual input such as talks, confession or adoration. Many men have expressed a strong sense of belonging and purpose through the group, which offers a vital space for fellowship, formation, and support in living out their faith. The group draws men from across the Diocese and has provided a model of lay-led community building that we hope to replicate.
page 1
THE WELLSPRING COMMUNITY BRIGHTON
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Family Days
Our Family Days have grown steadily in number and participation. These gatherings provide a relaxed, relational space for families to connect, build community, and grow in faith. Each event welcomes a few new families, who are intentionally integrated into the wider network.
This year we added structured children’s activities, including archery, circus skills, and ball games, helping children build confidence and friendships. We concluded with a sports day featuring sack races, dads’ races, and a tug of war—always a highlight for the children!
Our Holy Saturday Family Day was especially well attended, drawing over 120 participants. The day included hospitality, outdoor games, a bonfire with toasted marshmallows, and a child-led crosswalk. These events have become deeply valued by families as moments of connection and faith-filled celebration.
Friday Family Group
Our First Friday Family Group at Worth Abbey continues to be a warm, welcoming space for families with young children. It runs monthly, combining hospitality, informal conversation, and simple prayer. There is a consistent flow of new families joining, making this group a key point of initial contact and welcome into deeper engagement with faith and community life.
Young Adults Ministry
Easter Retreat
The Young Adults Easter Retreat at Worth Abbey remains one of our most important moments of formation and encounter. This year, over 50 young adults took part in the Triduum retreat, which included a series of excellent talks, reflections, and liturgies. Many described the retreat as a turning point in their faith journey. The retreat offers a unique opportunity for spiritual immersion and is a powerful expression of our mission to support young people in discovering their call and place in the Church.
Deep Waters
Deep Waters, our weekly evening gathering for young adults, has continued to thrive. The evenings offer a shared meal, prayer, and formation input in a relaxed and relational setting. Many participants are either exploring faith or returning to the Church after time away. The group provides a supportive and structured way to grow in faith and form strong community ties.
Sunday Lunches
Our Sunday lunches have continued to grow in popularity and impact. These simple meals after Mass are an important first point of welcome into the parish community, especially for newcomers and students. From this initial hospitality, many young adults have become involved in other activities such as formation groups, retreats, and service projects. Through the lens of Catholic Social Teaching, many have been inspired to live lives of intentional discipleship and social impact.
Mission Hub Development
We continued to develop the vision for the Brighton Mission Hub, a new base for young adult ministry and outreach. This year saw planning permission granted, and we launched a capital fundraising campaign to help close the funding gap. This project represents an exciting long-term investment in the spiritual life of the city and the Church’s presence in Brighton.
page 2
THE WELLSPRING COMMUNITY BRIGHTON
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
Public Benefit
Throughout the year, the Wellspring Community has provided clear public benefit by:
Educating and forming children and adults in the Christian faith through structured programmes like CGS, retreats, and regular gatherings .
Providing community and pastoral support for families and young adults, especially those new to or returning to the Church.
Building leadership capacity through training, volunteering opportunities, and mentoring.
Contributing to mental, spiritual, and relational wellbeing through events designed to foster friendship, reflection, and belonging.
As a registered charity, we remain committed to advancing the Catholic faith for the public benefit, in ways that are inclusive, collaborative, and responsive to the real needs of individuals and communities.
Financial review
The charity had a deficit of £54,281 (2023: deficit of £60,595) during the year as set out in the Statement of Financial Activities on page 6 of the accounts.
It is the policy of the Charitable Incorporated Organisation that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between six and twelve months of total expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charitable Incorporated Organisation’s current activities while consideration is given to ways in which additional funds may be raised.
The trustees have assessed the major risks to which the Charitable Incorporated Organisation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The Charitable Incorporated Organisation was established by a Foundation constitution on 23 September 2013.
The Wellspring Community was formally established 5 years before receiving charity status in 2013. As way of contextualising this report it might be useful to remind the reader that whilst the charity has only existed for 11 years the community’s roots are at least 16 years old in the Elm Grove Community project. The Promised members of the community renew their Promise annually, and Formation and Mission members are continuing to join us for a period of time to live and experience our way of life. This commitment coupled with prayer and a pooling of resources, has enabled us to have a great stability and deep communion with one another out of which we have been able to grow our ministry in a way that is quite beautiful. Many of the projects reported here have been running and developing for a number of years and we continue to see the great impact on a faith journey of a wide range of people they have had.
The trustees who served during the year and up to the date of signature of the financial statements were:
Ben Gray Katy Gray Lara Manighetti Christopher Manighetti Howard Davies
The trustees generally come from the membership of the community, though we occasionally invite non-members who can offer wisdom and expertise to join our board of trustees. Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustee, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
page 3
THE WELLSPRING COMMUNITY BRIGHTON
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
The trustees report was approved by the Board of Trustees.
Lara Manighetti Trustee
Date: 23/6/25
page 4
THE WELLSPRING COMMUNITY BRIGHTON
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE WELLSPRING COMMUNITY BRIGHTON
I report to the trustees on my examination of the financial statements of The Wellspring Community Brighton (the Charitable Incorporated Organisation) for the year ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the Charitable Incorporated Organisation you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Charitable Incorporated Organisation’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the Charitable Incorporated Organisation as required by section 130 of the Charities Act 2011.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT
Dated: 27 June 2025
page 5
THE WELLSPRING COMMUNITY BRIGHTON
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 29,020 | 12,265 |
| Charitable activities | 4 | 12,940 | 23,291 |
| Total income | 41,960 | 35,556 | |
| Expenditure on: | |||
| Charitable activities | 5 | 96,241 | 96,151 |
| Total expenditure | 96,241 | 96,151 | |
| Net expenditure and movement in funds | (54,281) | (60,595) | |
| Reconciliation of funds: | |||
| Fund balances at 1 September 2023 | 113,628 | 174,223 | |
| Fund balances at 31 August 2024 | 59,347 | 113,628 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
page 6
THE WELLSPRING COMMUNITY BRIGHTON
BALANCE SHEET
AS AT 31 AUGUST 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 11 | 2,286 | 3,049 | ||
| Current assets | |||||
| Debtors | 12 | 831 | 673 | ||
| Cash at bank and in hand | 59,473 | 136,041 | |||
| 60,304 | 136,714 | ||||
| Creditors: amounts falling due within one | Creditors: amounts falling due within one 13 |
||||
| year | (3,243) | (26,135) | |||
| Net current assets | 57,061 | 110,579 | |||
| Total assets less current liabilities | 59,347 | 113,628 | |||
| The funds of the Charitable Incorporated Organisation | The funds of the Charitable Incorporated Organisation | ||||
| Unrestricted funds | 15 | 59,347 | 113,628 | ||
| 59,347 | 113,628 |
The financial statements were approved by the trustees on 23/6/25
Lara Manighetti Trustee
page 7
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
Charity information
The Wellspring Community Brighton is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charitable Incorporated Organisation's Foundation Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charitable Incorporated Organisation is a Public Benefit Entity as defined by FRS 102.
The Charitable Incorporated Organisation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charitable Incorporated Organisation. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charitable Incorporated Organisation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The charity is looking to complete winding up after the next financial year, unrestricted reserves and inventories are expected to be distributed & donated.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the Charitable Incorporated Organisation is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Grants received are included in the year in which the charity is entitled to the income.
Charitable activities income include community members income and retreats and missions income. It is recognised in the period to which it related which is when the charity becomes entitled to it.
page 8
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is included when incurred.
Charitable costs relate to the costs of the property & activities and have been allocated directly to the functional headings as shown on the SOFA.
Governance costs include costs incurred in dealing with the legal and administrative requirements of the charity and are recognised when incurred.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers 3 years straight line Motor vehicles 25% reducing balance
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The Charitable Incorporated Organisation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charitable Incorporated Organisation's balance sheet when the Charitable Incorporated Organisation becomes party to the contractual provisions of the instrument.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charitable Incorporated Organisation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
page 9
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
(Continued)
1.11 Taxation
As a charity, the organisation is not subject to Corporation Tax or any taxes on income and gains arising from its charitable activities.
2 Critical accounting estimates and judgements
In the application of the Charitable Incorporated Organisation’s accounting policies, the trustees are required to 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 assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 29,020 | 12,265 |
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Rental income | ||
| Other income | 12,940 | 23,291 |
page 10
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
5 Charitable activities
| Property Costs Activities Costs 2024 2024 £ £ Staff costs 26,214 - Rent, rates, water, light and heat 25,803 - Insurance 1,153 - Telephone and fax 24 - Sundry expenditure - 6,632 Motor and travel expenses - 408 Grant to East Brighton Parish young adult ministry 12,000 - Staff benefits 520 - Food costs - 363 Retreats - 1,048 Mission expenditure - 18,079 65,714 26,530 Share of support costs (see note 6) 884 - Share of governance costs (see note 6) 3,113 - 69,711 26,530 |
Total 2024 £ 26,214 25,803 1,153 24 6,632 408 12,000 520 363 1,048 18,079 92,244 884 3,113 96,241 |
Total 2023 £ 40,834 19,034 1,153 67 6,656 225 - 77 708 1,113 21,799 |
|---|---|---|
| 91,666 1,108 3,377 |
||
| 96,151 |
page 11
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 Charitable activities
(Continued)
For the year ended 31 August 2023
| Property Costs Activities Costs Community Costs £ £ £ Staff costs 40,834 - - Rent, rates, water, light and heat 19,034 - - Insurance 1,153 - - Telephone and fax 67 - - Sundry expenditure - 6,443 213 Motor and travel expenses - 154 71 Healthcare - - 77 Food costs - 708 - Retreats - 1,113 - Mission expenditure - 21,799 - 61,088 30,217 361 Share of support costs (see note 6) 1,108 - - Share of governance costs (see note 6) 3,377 - - 65,573 30,217 361 6 Support costs allocated to activities 2024 £ Depreciation 763 Bank fees 121 Governance costs 3,113 3,997 Analysed between: Charitble activities 3,997 7 Net movement in funds 2024 £ The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements 3,113 Depreciation of owned tangible fixed assets 763 |
Total 2023 £ 40,834 19,034 1,153 67 6,656 225 77 708 1,113 21,799 |
|---|---|
| 91,666 1,108 3,377 |
|
| 96,151 | |
| 2023 £ 1,018 90 3,377 |
|
| 4,485 | |
| 4,485 | |
| 2023 £ 3,377 1,018 |
page 12
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
8 Trustees
None of the trustees (or any persons connected with them) received any expenses during the year, however two trustee received salaries for their roles as part of the leadership team.
9 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| 2 | 2 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 25,618 | 36,123 |
| Social security costs | 201 | 3,996 |
| Other pension costs | 395 | 715 |
| 26,214 | 40,834 | |
| There were no employees whose annual remuneration was more than £60,000. | ||
| Remuneration of key management personnel | ||
| The remuneration of key management personnel was as follows: | ||
| 2024 | 2023 | |
| £ | £ | |
| Aggregate compensation | 26,214 | 40,834 |
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
page 13
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
| 11 Tangible fixed assets Computers Motor vehicles £ £ Cost At 1 September 2023 830 14,351 At 31 August 2024 830 14,351 Depreciation and impairment At 1 September 2023 830 11,302 Depreciation charged in the year - 763 At 31 August 2024 830 12,065 Carrying amount At 31 August 2024 - 2,286 At 31 August 2023 - 3,049 12 Debtors 2024 Amounts falling due within one year: £ Other debtors 158 Prepayments and accrued income 673 831 13 Creditors: amounts falling due within one year 2024 £ Other taxation and social security - Accruals and deferred income 3,243 3,243 14 Retirement benefit schemes 2024 Defined contribution schemes £ Charge to profit or loss in respect of defined contribution schemes 395 |
Total £ 15,181 |
|---|---|
| 15,181 | |
| 12,132 763 |
|
| 12,895 | |
| 2,286 | |
| 3,049 | |
| 2023 £ - 673 |
|
| 673 | |
| 2023 £ 1,778 24,357 |
|
| 26,135 | |
| 2023 £ 715 |
The Charitable Incorporated Organisation operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charitable Incorporated Organisation in an independently administered fund.
page 14
THE WELLSPRING COMMUNITY BRIGHTON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 September | Incoming | Resources | At 31 August | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 113,628 | 41,960 | (96,241) | 59,347 |
| Previous year: | At 1 September | Incoming | Resources | At 31 August |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General funds | 174,223 | 35,556 | (96,151) | 113,628 |
16 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
17 Post balance sheet event
As at the year end date of 31 August 2024, the charity had commenced the process of winding up its operations. This process is being conducted in accordance with the charity’s governing documents and relevant legal and regulatory requirements. The winding up is expected to continue into the subsequent accounting period, during which the remaining assets and liabilities will be settled appropriately.
page 15