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2023-02-28-accounts

REGISTERED COMPANY NUMBER: 08340892 (England and Wales) REGISTERED CHARITY NUMBER: 1154344

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 28 February 2023

for

P.A.S.T.WAYS LTD

Brearley & Co Accountants Limited Chartered Certified Accountants 4 Park Square Newton Chambers Road Chapeltown Sheffield South Yorkshire S35 2PH

P.A.S.T.WAYS LTD

Contents of the Financial Statements for the Year Ended 28 February 2023

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Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 to 9
Detailed Statement of Financial Activities 10
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P.A.S.T.WAYS LTD

Report of the Trustees for the Year Ended 28 February 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08340892 (England and Wales)

Registered Charity number 1154344

Registered office

4 Park Square Newton Chambers Road Chapeltown Sheffield Sout Yorkshire S35 2PH

Trustees

A Broughton Retired Police Officer (resigned 15.8.22) M R Jenkinson Accountant

M J Barratt It Account Manager A K Belcher Senior Lead Hand At Bentleys Constructio P Booth Safeguarding Manager In Education J P Hawksworth Volunteer (resigned 21.3.22) Miss S Tyson Technology Graduate Miss J M Belcher Teaching Assistant (appointed 16.12.22) Mrs P Booth Managing Director (appointed 16.3.22) J D Copeland Employment Foreman (appointed 21.4.22) Mrs J L Dyson Director (appointed 16.3.22) M S D Fisher Director (appointed 16.3.22)

Company Secretary

Independent Examiner

Brearley & Co Accountants Limited Chartered Certified Accountants 4 Park Square Newton Chambers Road Chapeltown Sheffield South Yorkshire S35 2PH

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ P Booth - Trustee

Page 1

Independent Examiner's Report to the Trustees of P.A.S.T.WAYS LTD

Independent examiner's report to the trustees of P.A.S.T.WAYS LTD ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 accounts to be reached.

FL Accounting Ltd

Brearley & Co Accountants Limited Chartered Certified Accountants 4 Park Square Newton Chambers Road Chapeltown Sheffield South Yorkshire S35 2PH

Date: .............................................

Page 2

P.A.S.T.WAYS LTD

Statement of Financial Activities for the Year Ended 28 February 2023

28.2.23
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
198,994
Investment income
2
565
Total
199,559
EXPENDITURE ON
Other
184,722
NET INCOME
14,837
RECONCILIATION OF FUNDS
Total funds brought forward
181,180
TOTAL FUNDS CARRIED FORWARD
196,017		 28.2.22
Total
funds
£
152,880
13
152,893
146,961
5,932
175,248
181,180

The notes form part of these financial statements

Page 3

P.A.S.T.WAYS LTD

Balance Sheet 28 February 2023

28.2.23
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
7
10,316
CURRENT ASSETS
Debtors
8
50
Cash at bank and in hand
195,147
195,197
CREDITORS
Amounts falling due within one year
9
(9,496)
NET CURRENT ASSETS
185,701
TOTAL ASSETS LESS CURRENT LIABILITIES
196,017
NET ASSETS
196,017
FUNDS
10
Unrestricted funds
196,017
TOTAL FUNDS
196,017		 28.2.22
Total
funds
£
4,014
6,038
178,798
184,836
(7,670)
177,166
181,180
181,180
181,180
181,180

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P Booth - Trustee

The notes form part of these financial statements

Page 4

P.A.S.T.WAYS LTD

Notes to the Financial Statements for the Year Ended 28 February 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS102 (Section 1A).

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. INVESTMENT INCOME

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|||| |---|---|---| |28.2.23|28.2.22| |£|£| |Deposit account interest|565|13|

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Page 5

continued...

P.A.S.T.WAYS LTD

Notes to the Financial Statements - continued for the Year Ended 28 February 2023

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

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|||| |---|---|---| |28.2.23|28.2.22| |£|£| |Depreciation - owned assets|2,746|1,338|

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4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.

5. AVERAGE NUMBER OF EMPLOYEES

Average number of employees

2023 6 2022 5

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

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||| |---|---| |Unrestricted| |fund| |£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|152,880| |Investment income|13| |Total|152,893| |EXPENDITURE ON| |Other|146,961| |NET INCOME|5,932| |RECONCILIATION OF FUNDS| |Total funds brought forward|175,248| |TOTAL FUNDS CARRIED FORWARD|181,180|

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Page 6

continued...

P.A.S.T.WAYS LTD

Notes to the Financial Statements - continued for the Year Ended 28 February 2023

7. TANGIBLE FIXED ASSETS

COST
At 1 March 2022
Additions
At 28 February 2023
DEPRECIATION
At 1 March 2022
Charge for year
At 28 February 2023
NET BOOK VALUE
At 28 February 2023
At 28 February 2022
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued expenses
10.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 Fixtures
and
fittings
£
4,270
950
5,220
3,923
130
4,053
1,167
347
At 1.3.22
£
181,180
181,180
Incoming
resources
£
199,559
199,559		 Computer
equipment
Totals
£
£
10,003
14,273
8,098
9,048
18,101
23,321
6,336
10,259
2,616
2,746
8,952
13,005
9,149
10,316
3,667
4,014
28.2.23
28.2.22
£
£
50
6,038
28.2.23
28.2.22
£
£
9,496
7,670
Net
movement
At
in funds
28.2.23
£
£
14,837
196,017
14,837
196,017
Resources
Movement
expended
in funds
£
£
(184,722)
14,837
(184,722)
14,837

Page 7

continued...

P.A.S.T.WAYS LTD

Notes to the Financial Statements - continued for the Year Ended 28 February 2023

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.3.21
£
Unrestricted funds
General fund
175,248
TOTAL FUNDS
175,248
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
152,893
TOTAL FUNDS
152,893		 Net
movement
At
in funds
28.2.22
£
£
5,932
181,180
5,932
181,180
Resources
Movement
expended
in funds
£
£
(146,961)
5,932
(146,961)
5,932

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.3.21
£
175,248
175,248		 Net
movement
in funds
£
20,769
20,769		 At
28.2.23
£
196,017
196,017

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
352,452
352,452		 Resources
Movement
expended
in funds
£
£
(331,683)
20,769
(331,683)
20,769

Page 8

continued...

P.A.S.T.WAYS LTD

Notes to the Financial Statements - continued for the Year Ended 28 February 2023

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 28 February 2023.

Page 9

P.A.S.T.WAYS LTD

Detailed Statement of Financial Activities for the Year Ended 28 February 2023

INCOME AND ENDOWMENTS
Donations and legacies
School funding
Donations
Free school meals		 28.2.23
28.2.22
£
£
195,547
151,048
3,394
-
53
1,832
Investment income
Deposit account interest		 198,994
152,880
565
13
Total incoming resources
EXPENDITURE
Support costs
Management
Wages
Pensions
Rent
Insurance
School meals provisions
Telephone
Postage and stationery
Computer costs
Sundries
Repairs & renewals
Travel
Depreciation of tangible and heritage assets		 199,559
152,893
133,198
106,230
2,517
2,088
16,800
16,800
1,794
1,229
5,057
2,581
1,303
1,523
1,927
2,961
3,788
1,200
3,970
2,559
7,793
3,188
178
1,346
2,746
1,338
Finance
Bank charges
Governance costs
Accountancy and legal fees
Legal fees		 181,071
143,043
209
174
3,042
3,072
400
672
3,442
3,744
Total resources expended 184,722
146,961
Net income 14,837
5,932

This page does not form part of the statutory financial statements

Page 10