Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
REGISTERED COMPANY NUMBER: 07712000 (England and Wales) REGISTERED CHARITY NUMBER: 1159655
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
THE PELICAN CENTRE LTD
Fairhurst Accountants Ltd Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB
Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Statement of Cash Flows | 6 |
| Notes to the Statement of Cash Flows | 7 |
| Notes to the Financial Statements | 8 to 14 |
Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD (REGISTERED NUMBER: 07712000)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
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 31 March 2024. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To promote for the benefit of the inhabitants of Tyldesley and the surrounding area the provision of facilities for recreation or other leisure time occupation, in particular swimming, for the public at large in the interests of social welfare and with the objective of improving the condition of life of said inhabitants.
Significant activities
The management team has continued to develop both the operational leisure and recreational activities of the charity and the social welfare of the surrounding area and in so doing, have strengthened the future viability of the organisation by both recording a substantial increase in the annual surplus and an improvement of and expansion in the services offered to both customers and the wider local population.
The expansion of the swimming programme has included for the first time the introduction of adult swimming lessons and the introduction of lessons for nursery and reception children within a total of in excess of 470 school swimming lessons which have been delivered in year.
Other innovative programmes to be introduced during the year have included the Here4You gym programme to support return to exercise and improvements in health and wellbeing; and wellbeing workshops to address women's health, meditation and stress management.
The charity has returned a surplus for the year of £84,632, which is very pleasing and will be used to further the charities objectives.
A Sport England grant has been obtained in year to support the installation of both solar panels on the roof and a variable filtration system for the pool plant. Work will commence and will be completed during the next financial year.
Public benefit
Our main activities and the groups at which they are aimed are described above within Objectives and Activities. All of our charitable activities are focused on furthering our charitable objectives for the public benefit of the local community.
STRATEGIC REPORT
Reserves policy
The reserves policy is reviewed annually by the trustees in light of current events. The unrestricted reserves are currently £433,268 and the free reserves (net current unrestricted assets) stand at £325,784
This is in line with the board's recommendation of holding 3 months running costs of the charity in free reserves which, based on these accounts, currently stands at £154,000.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The role, scope and responsibilities of the Trustees are enshrined in law, principally the Charities Act 2011 and the Companies Act 2006, and also the Articles of Association.
Recruitment and appointment of new trustees
Co-opted Trustees are selected following a search, advertising on the club website and personal recommendation. They meet with at least two existing Trustees, including the Chairman of the charity. It is the intention of the charity to have Trustees who have a strong interest in the sport of swimming, especially to encourage wide community participation for health and leisure purposes, and an appreciation of the governance role. The policy is to have a strong, gender diverse trustee board with a range of experience and skills.
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Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD (REGISTERED NUMBER: 07712000)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
The trustees actively review the major risks which The Pelican Centre faces on a regular basis. These include health and safety, operational and human risks as well as reputational and financial risks. The trustees believe that the maintenance of general reserves, combined with the regular review of controls over financial systems, will provide sufficient resources in the event of adverse conditions.
The trustees have also examined the other operational and business risks which The Pelican Centre faces and confirm that policies and systems have been established to mitigate most of the significant risks. It is noted that, as a consequence of its status as a company limited by guarantee, the trustees of the company are liable to contribute £1 each should the company be wound up insolvent.
Public Liability Insurance is purchased in respect of certain events where the potential for liability exists.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07712000 (England and Wales)
Registered Charity number
1159655
Registered office
Tyldesley Swimming Pool Castle Street Tyldesley Manchester M29 8EG
Trustees
P A Costello J A Johnson Mrs A Roberts Dr A R T Thompson
Independent Examiner
Fairhurst Accountants Ltd Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 13 December 2024 | 16:47 GMT
........................................................................ J A Johnson - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PELICAN CENTRE LTD
Independent examiner's report to the trustees of The Pelican Centre Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Mrs Jane Dennis BA (Hons) FCA
Fairhurst Accountants Ltd Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB 14 December 2024 | 07:26 GMT Date: .............................................
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THE PELICAN CENTRE LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 March 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 49,800 Charitable activities 5 Leisure & Recreational activities 582,679 Other trading activities 4 76,113 Total 708,592 EXPENDITURE ON Raising funds 6 7,267 Charitable activities 7 Leisure & Recreational activities 616,693 Total 623,960 NET INCOME 84,632 RECONCILIATION OF FUNDS Total funds brought forward 348,636 TOTAL FUNDS CARRIED FORWARD 433,268 |
Restricted funds £ - - - - - - - - - - |
2024 Total funds £ 49,800 582,679 76,113 708,592 7,267 616,693 623,960 84,632 348,636 433,268 |
2023 Total funds £ 21,214 541,767 61,538 624,519 8,860 578,955 587,815 36,704 311,932 348,636 |
|---|---|---|---|
The notes form part of these financial statements
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Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD (REGISTERED NUMBER: 07712000)
STATEMENT OF FINANCIAL POSITION 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 12 | 196,258 | 174,358 |
| CURRENT ASSETS | |||
| Stocks | 13 | 1,450 | 850 |
| Debtors | 14 | 26,223 | 25,489 |
| Cash at bank and in hand | 419,560 | 258,831 | |
| 447,233 | 285,170 | ||
| CREDITORS | |||
| Amounts falling due within one year | 15 | (121,449) | (88,441) |
| NET CURRENT ASSETS | 325,784 | 196,729 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 522,042 | 371,087 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 16 | (88,774) | (22,451) |
| NET ASSETS | 433,268 | 348,636 | |
| FUNDS | 19 | ||
| Unrestricted funds | 433,268 | 348,636 | |
| TOTAL FUNDS | 433,268 | 348,636 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 13 December 2024 | 16:47 GMT............................................. and were signed on its behalf by:
JL Nolunsow
.............................................
J A Johnson - Trustee
The notes form part of these financial statements
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THE PELICAN CENTRE LTD
| STATEMENT OF CASH FLOWS for the Year Ended 31 March 2024 2024 Notes £ Cash flows from operating activities Cash generated from operations 1 127,931 Interest paid (2,655) Net cash provided by operating activities 125,276 Cash flows from investing activities Purchase of tangible fixed assets (45,350) Net cash used in investing activities (45,350) Cash flows from financing activities New loans in year 92,900 Loan repayments in year (12,097) Net cash provided by/(used in) financing activities 80,803 Change in cash and cash equivalents in the reporting period 160,729 Cash and cash equivalents at the beginning of the reporting period 258,831 Cash and cash equivalents at the end of the reporting period 419,560 |
2023 £ 34,231 (948) 33,283 (4,172) (4,172) - (9,701) (9,701) 19,410 239,421 258,831 |
|---|---|
The notes form part of these financial statements
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Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD
NOTES TO THE STATEMENT OF CASH FLOWS for the Year Ended 31 March 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest paid Increase in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operations 2. ANALYSIS OF CHANGES IN NET FUNDS |
2024 £ 84,632 23,450 2,655 (600) (734) 18,528 127,931 |
2023 £ 36,704 16,987 948 - 4,439 (24,847) 34,231 |
|---|---|---|
| At 1/4/23 | Cash flow | At 31/3/24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 258,831 | 160,729 | 419,560 |
| 258,831 | 160,729 | 419,560 | |
| Debt | |||
| Debts falling due within 1 year | (9,957) | (14,480) | (24,437) |
| Debts falling due after 1 year | (22,451) | (66,323) | (88,774) |
| (32,408) | (80,803) | (113,211) | |
| Total | 226,423 | 79,926 | 306,349 |
The notes form part of these financial statements
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Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024
1. STATUTORY INFORMATION
The Pelican Centre is a charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with 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 02) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
There are no material uncertainties regarding the charities ability to continue as a going concern.
The financial statements are presented in Sterling (£).
Income
All incoming resources are included on the Statement of Financial Activities when the company is entitled to the income and the amount can be quantified with reasonable accuracy.
Income from schools for swimming lessons is recognised at the fair value of the consideration receivable for services provided. Income is recognised according to the period to which it relates. Amounts invoiced in advance of the service being performed are accounted for as deferred income and recognised as income in the appropriate period, once the service has been performed.
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.
Irrecoverable vat
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Governance costs
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the remaining term of the lease Plant and machinery - 25% on cost Computer equipment - 25% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charitable company is exempt from taxation on activities relating to its primary trading purpose.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
2. ACCOUNTING POLICIES - continued
Fund accounting
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.
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.
Contributions payable to employees personal pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
Grants
Grants received are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of any grant is deferred, it is recognised as deferred income.
3. DONATIONS AND LEGACIES
| Unrestricted Restricted funds funds £ £ Grants 49,800 - Grants received, included in the above, are as follows: Sports England Power to Change Government Initiative National Lottery |
2024 Total funds £ 49,800 2024 £ - - 500 49,300 49,800 |
2023 Total funds £ 21,214 2023 £ 7,500 7,334 6,380 - 21,214 |
|---|---|---|
Grants received, included in the above, are as follows:
4.
OTHER TRADING ACTIVITIES
| Unrestricted Restricted funds funds £ £ Hairdryers 2,705 - Lockers 286 - Vending machine income 1,060 - Resale of goods 15,331 - Private hire 56,731 - 76,113 - |
2024 Total funds £ 2,705 286 1,060 15,331 56,731 76,113 |
2023 Total funds £ 2,823 223 548 12,722 45,222 61,538 |
|---|---|---|
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
5. INCOME FROM CHARITABLE ACTIVITIES
| Activity Memberships Leisure & Recreational activities Swimming lessons Leisure & Recreational activities General swimming Leisure & Recreational activities Gym membership Leisure & Recreational activities Lifeguard sessions Leisure & Recreational activities Discount cards Leisure & Recreational activities 6. RAISING FUNDS Other trading activities Unrestricted funds £ Purchases 7,267 7. CHARITABLE ACTIVITIES COSTS Leisure & Recreational activities 8. SUPPORT COSTS Leisure & Recreational activities 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Restricted funds £ - Direct Costs £ 608,127 |
2024 2023 £ £ 6,820 4,710 292,299 247,980 51,811 49,262 220,850 226,995 3,600 3,734 7,299 9,086 582,679 541,767 2024 2023 Total Total funds funds £ £ 7,267 8,860 Support costs (see note 8) Totals £ £ 8,566 616,693 Governance costs £ 8,566 2024 2023 £ £ 23,450 16,987 |
|---|---|---|
continued...
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Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2024 £ 275,749 13,687 7,754 297,190 |
2023 £ 251,346 12,612 6,929 |
|---|---|---|
| 270,887 |
The average monthly number of employees during the year was as follows:
| Manager Support staff (FTE) |
2024 1 9 10 |
2023 1 8 |
|---|---|---|
| 9 |
No employees received emoluments in excess of £60,000.
12. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 April 2023 209,427 Additions - At 31 March 2024 209,427 DEPRECIATION At 1 April 2023 48,669 Charge for year 11,367 At 31 March 2024 60,036 NET BOOK VALUE At 31 March 2024 149,391 At 31 March 2023 160,758 |
Plant and machinery £ 72,126 45,350 117,476 60,753 11,151 71,904 45,572 11,373 |
Computer equipment £ 9,007 - 9,007 6,780 932 7,712 1,295 2,227 |
Totals £ 290,560 45,350 335,910 116,202 23,450 139,652 196,258 174,358 |
|---|---|---|---|
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
13. STOCKS
| 2024 £ Stocks 1,450 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Trade debtors 250 Other debtors 12,147 Prepayments and accrued income 13,826 26,223 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Bank loans and overdrafts (see note 17) 10,213 Other loans (see note 17) 14,224 Trade creditors 14,869 Social security and other taxes 4,605 Other creditors 63,265 Accrued expenses 14,273 121,449 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loans (see note 17) 12,238 Other loans (see note 17) 76,536 88,774 17. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due within one year on demand: Bank loans 10,213 Other loans 14,224 24,437 Amounts falling between one and two years: Bank loans - 1-2 years 10,469 Other loans - 1-2 years 16,600 27,069 |
2023 £ 850 2023 £ 3,254 1,650 20,585 25,489 2023 £ 9,957 - 33,811 2,113 28,402 14,158 88,441 2023 £ 22,451 - 22,451 2023 £ 9,957 - 9,957 10,213 - 10,213 |
|
|---|---|---|
continued...
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THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
17. LOANS - continued
| LOANS - continued | ||
|---|---|---|
| Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years |
2024 £ 1,769 59,936 61,705 |
2023 £ 12,238 - |
| 12,238 |
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted fund £ Fixed assets 196,258 Current assets 408,400 Current liabilities (82,616) Long term liabilities (88,774) 433,268 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 |
Restricted funds £ - 38,833 (38,833) - - At 1/4/23 £ 348,636 348,636 Incoming resources £ 708,592 708,592 |
2024 2023 Total Total funds funds £ £ 196,258 174,358 447,233 285,170 (121,449) (88,441) (88,774) (22,451) 433,268 348,636 Net movement At in funds 31/3/24 £ £ 84,632 433,268 84,632 433,268 Resources Movement expended in funds £ £ (623,960) 84,632 (623,960) 84,632 |
|---|---|---|
19. MOVEMENT IN FUNDS
continued...
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Docusign Envelope ID: 089E65C9-4007-424A-9341-DE9DF7B1536D
THE PELICAN CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/22 £ Unrestricted funds General fund 311,932 TOTAL FUNDS 311,932 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 617,185 Restricted funds Power to Change fund 7,334 TOTAL FUNDS 624,519 |
Net movement At in funds 31/3/23 £ £ 36,704 348,636 36,704 348,636 Resources Movement expended in funds £ £ (580,481) 36,704 (7,334) - (587,815) 36,704 |
|---|---|
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
21. CONTROL
The company is under the control of the trustees.
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