REGISTERED COMPANY NUMBER: 08206754 ffngland and Wales) REGISTERED CHARITY NUMBER: 1169693 Report of the Trn$te¢s amd Unaudited Financial st*t¢mets For The Year Ended 31 M¥r¢h 2024 for Woodside Crafts {A Company Limited by GuaraBtee) Howell D)ll & Co Limited 13 Stourdal¢ Road Cradley Heath West Midlands B64 7BG
Woodslde Crafts ConleDts of the Fin#neSal Ststements For Tbe Year Ended 31 March 21)24 Page Rewrt of th¢ Tru$te¢s I to 3 Indtpendent ExamiTrer's Report Statement of FiDancial Activi¢1 Balance Sbe¢t Notes to the Fin&n¢i¥l Stsiements 7 to 11 Detailed Statemenl of FiD4Dclal Activitie5 12
Wood$ide Crafts Report of the Trustees For The Year Ended 31 Mgrcb 2024 The trustees who are also directOT5 of the ¢h&ity for th¢ pUryxS of the Compani¢5 Ad 2006. pent their report with Ihe financial stat¢Tnents of the Chariry for the year ended 31 Mh 2024. The trllsiees have adopted the provisions of Aecounting and Reporting by Charities.. Statement of Recommended Pradic¢ appli¢oble to chaTities preparing their account5 in accordance with the Financial Reporting StandaTd applicable in the UK and Republic of Ireland (FRS 102) (eff¢div¢ l January 2019). INCORPORATiof4 The charitsble company was inco7wTated ou 7th Sepiember 2012 and commenced trading on l O¢tob¢r 2012. OBJECTIVES AND ACllWTIES Policies and objective5 Woodside Crafts purpose and vision is to &SSi5t in the treatment and care of petn5 Suffering from mental health difficulties living in the Dudley borough, in ne¢d of rehabilitation as a resuh of such difficulti¢5 by th¢ provisson of facilities for work and recreation. enabling opporÉwiTties to increase their skills. selfryconfidence and by ¢rnpow¢m)enL Woodside Crdfts was e5tablish¢d in 2012 wtth the frillowing mission.. To raise awareness and improve understanding of m¢ntsl health difficulties amongst the generdl public, thu5 reducing stigma and discrimination To provide a cotrmunity hub where individuals r0vering frorn mentsl health difficu]ties can have a safe non-judgmental envirotunent utili5ing opportwiities to l¢arnl r¢l¢aTll employable skills * To provide individuals the opportunity to engage in social events, offer peer support, offer sign posting to other mental health services: which enables individuals lo manag¢ ¢ff¢ctiv¢ty coping with everyday life needs. * To engage with as many individuals and caTers in th¢ Dudley borougb who suffer with mentsl health difficulties * To, network, with other lo¢al rn¢ntai health Servi providers * To continue working within our retail premi5¢s alld worksknops * To Continue and develop promoting mentsl health amongst the wider public. In order to secure these aim& Woodside Crafts is developing a long lerm 5UStainability Strategy that will deliver outstanding work with individuals who suffer with mental health issue5 within th¢ Dudley Borough, und¢rpinned by financial stability and good governance, In shaping our obj¢GtiV¢S for th¢ year and platming our activities. the trustees have considered the Chartty Commi10n.5 guidance on -public benefit" running a Charity. W¢ believe that th¢ breadth md aCceIbIlIty of our work will demonmte withour any doubt the publi¢ b¢nefit that our WOTk bring5 to our communiry in DLleY and the Surrounding area Activities for athieving objectives= We will achleve these aims by.. * Increasing our membership and referrals for workshop session5 * Continuing running our shop selling Iwidcraft¢d goods to th¢ publi * Continue wÉth outreach work- crdfts eYeTJts. meetin8 with eTnployer5 aDd working with other service providers Updating and learning new craft skills. developing the range of goods made InGreasing the numb¢r of trust¢e5 with varying 5ki115 Continulng to pursue a fiu]draising strategy which enables to ensure financial security for the orwisation Directors with trustees to complete an assessment on the probability of moving premises Liaise with Dudley volunteers bureau to incrvds¢ volunteering opportunities. Page I
W(KM15id¢ Crafts Report of the Trustees For The Year Ellded 31 Marck 2024 ACHIEVEMEF4T AND PERFORMANCE Charitable ¥ttivitles The number of volunt¢¢rs IAS unfortunately decrea5¢d. Thi5 h&$ been for a variety of r¢&sons - ageing of vohmteeTS ac¢ompanied with physical ill health and volunteers moving on ¢0 full tirne employmenL Woodside Crafts h&% been successful with s¢v¢nl donatioAJs. This has E¢en from UNITE (a national trade union). We a150 had a very genero donation in lat¢ 5priD8. Although we continued to pay r¢nt to Dudley councit at the lower rdle ae¢d wh¢n we first rented our PTem1s¢5 in King Streffl, in May 2023 Dudl¢y ¢ouncil reassessed ow rentsl amellt and stated that the rent should hav¢ r¢tLrned to the full rnonthly rnte in 2022. The council then Stated that we n¢eded to pay back rent arrear5, which had accumulated to over £12,000. The dir¢¢lors sow itid¢pelldent lega] advice. which concluded the council had a legal right to requesi the said aTnount. The ttustee's consid¢rdlion of TnoviDg prernises was based on the fact that the prernises were unsuitable for individuals with mobility is5u¢s. A150 to consider that the premises is on Iwo levels. The trte¢S agreed that before any d[S7On is made to relocat¢ a full w¢wient is to be cOmplet- lo include g¢neTal operational costs and rent We were approached by a lo¢ company to co work on some joim woodwork PTojects, where we would p¢rsonalise products for customers. This h&$ beett quitr p)siiive. as this also allowed volunt¢ers lo develop their skills in lasering. FINANCIAL REVIEW Prlneipal fvnding sources The charity ulso received a £40,(K)O donation from a very supportive individual donor. This w&$ bequeathed to help Mryth the operational costs and the potential of moving prernises in the Th¢ fundraising position of the charity has been Teviewed and tl is planned foT 8 $ub eornmittee to look and develop a new funding strategy in the of 2024. Reserves poliey The financial position has been Émproved with several g¢n¢rou5 donations and funding, however there has ixen an in¢r¢&se in outgoings due io the increased costs of resources and thililles. The tn]srees plan to look at th¢ sp¢nding budget and ty to network with other cheaper resourc¢5 OUt]¢ts or tirnber merchants may donate wood offwcuts. Also to look at other utility providers and better contract and raie for the charity. Operating reserves are needed to secure the long lerTTr SSIab]IIty of th¢ dwity's regthlar outgoings. Especially for the winter months to pay for heltig and during periods when sa]e5 of products are lower. It is th¢ aim of the truste¢s to adopt a moTe realistic reserve policy for 2024f2025. Going eoneern The tNstees hav¢ reOllable ¢xpe¢tations that the ¢ompany h&8 adequate resoutw to continue in operational existence for the next Iwo years. For this reason. Woodside CTaft'5 trus5 wntinue w adopt the going ¢on¢erns basis in preparing for the fanCIal statfflnents. Further details ftgarding the #doption of the ongoing ¢on¢¢rns basis ¢an be found in th¢ ac¢ounting policies. Principal risL8 and UnT¢rtgiDti¢8 Th¢ TnteeS have assessed the major risks io which the chariry is exposed. in particular those relatsd to the operation5 and finances of the company. They are satisfied that syslems ond prwedure5 are in plac¢ to rnitigai¢ exp05we to the major risks. A risk register h&s be¢n created which fonns an annex to the Business Plan and is monitored regular]y at board meetings. Page 2
WIM)d$ide Crnfts Report of the Trustees For Th¢ Year Ended 31 Mareh 2024 FUTURE PLANS Currently Woodside Craft's styat¢gi¢ airns for the next two years have been identified as.. To secure revenue funding stslus in order to support ow'core. activity. * To explore possibilities of relocating our premises. * To build pattnerships with the local job ¢¢ntre and agencies where appropriate members can gain employm¢nt status. * To create a fundraising stratrgy which will enable us to strengthen current relationships with nderS and develop n¢w ones, including h¢alth trusts, foundation, COrate sponsors and individual donors. Clearly these airns are due for review- parti¢ularly given the position regarding Wcrt)dside Crafts. Therefore, following the work UTJdertaken around aims and objec(ives, ststTing structure and fundraising a5 Outlined above- a review of these strategic aims will take place during auturnn of 2024. with the dev¢lopm¢nt of a new business plan co follow. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its governing documenL a deed of t. and conslitutes a limiied Cornpany, lilnited by guarantee, defined by the Companie5 Act 2006. Recruitment and appointm¢Dt of new tru5te¢s The management of the company is the responsibility of the stee$ who are elected and COwOPted under the tenns of th¢ Articles of A550¢iation. REFERENCE AND ADMINISTRATIVE DETAILS Registered Cornpany number 08206754 (England and Wales) Registered Charity number 1169693 Registered office 149 Cinder Bank Netherton Dudley West Midland5 DY2 9BW Trustee5 Mrs C J G¢orge M R MaTSton Company Secretary MTS C J George Independent Examiner Howell Dunn & Co Limit¢d 13 Stourdal¢ Road Cradley Heath West Midlands B64 7BG Approved by order of the board of tnleeS on 13 December 2024 and signed on Tts behalf by: Mrs C J Georg¢- Trustee Page 3
Indtp¢Dd¢tt¢ Examlner's Report to the Tru5te¢s of Woodsid¢ Crafts IndepeDdeTrt exarniner's re}rt to the trustees of w051d¢ Crnfts Cthe Compny I report to the charity trustees on tny examination of the accounts of the Company for th¢ year ended 31 MaTch 2024. Responslbllities Ind basls of report As the chariry's Inle£S of the Company (and also Ats directors for the prys¢s of rojwy law} you are respon5ibl¢ for the preparation of the accounts in accordance with the wuirenlents of the Companies Act 2006 Cth¢ 2006 Act?. Having satisfied myself th81 th¢ a¢counts of the Company are n¢A requir¢d to be audited under Part 16 of the 2006 Ad and 8Je eligible for independent examinatio I re)rt in respect of my examination of your charitys accow)ts a5 carried out under Section 145 of the Chariti¢s Act 2011 Cthe 2011 Act). In Cllng out my ¢xarnination I have followed the Dire¢tions given by the Charity Cornmi55ion utthr S¢ct¢on 145(5) (b) of the 2011 Act. Independent ex8miDer'5 Statement I hav¢ wrnpIed my examination. I confirni that no matt¢T5 hav¢ come to n)y attention in connection with the exatnination giving me cause to believe.. unting records were not kepi in respect of the Company required by Section 386 of the 2006 Act.. OT the accounts do not a(rd with those rccords" or the a¢¢ounts do not comply with the accounting requir¢Tn¢nts of S¢dion 396 of the 2006 Act other than any requir¢m¢nt that the aceoullts give a true and fair view which is not a matter wnsidered as part of an ind¢pendent examination. or the arxounts have noi been prepared An ac¢ordance with the metbods and principles of th¢ Statement of Recommended Practice for accounting and reporting by ¢hariti¢S (appli¢abl¢ to charities preparing theiT ¢ounts in accordance with the Financial Reporting Standard applicabl¢ in the UK alld Republic of Ireland (FRS 102)). I have no concerns and have corne acros5 no Oth matt5 in eonnectii)n with the examination to which atteDtion should bo drawn in this report in order to enable a proper understanthg of the ¥w]nts t(Tr bE reaehe Mrs L Ball FCCA Howell Dunn & Co Limited 13 Stourdale Road Cradl¢y H¢atb West Midlands B64 7BG 13 December 2024 Page 4
Woodside Crnfts Ststernenl of Financial A¢tivlties For The Y¢#r Elld¢d 31 Mreb 2024 2024 Total fimds 2023 Total funds fid fimds Notes Ir4COME AND ENDOWMENTS FROM DonatioDS and le8a¢ies 55,616 55,616 5.829 Other trading activities 4.023 4,023 4,490 Total 59,639 59,039 10.319 EXPENDITURE ON Raising funds 82 82 1,908 Charltsble xetlvitie5 Oth¢r Costs 24.727 967 25,694 9,115 Total 24,809 967 25,776 11.023 NET INCOMEI(EXPENDITURE) 34.830 (96D 33.863 (704) RECONCIIJATION OF FUNDS Totsl funds brought forward 19,113 6272 25.385 26,089 TOTAL FUNDS cARRD FORWARD 53,943 5,305 59,248 25.385 Th¢ noies fom) part of these financial stD)¢nts Page 5
Woodside Crnfts Balanee Sheet 31 March 2024 2024 Total 2023 Total funds Unrestricied fimd Resrricted funds Note5 FIXED ASSETS Tangible assets 1,950 5,305 7,255 8,838 CURRENT ASSETS Stocks Cash at bank and in hand 9.000 43,907 9,0(H) 43,907 7,000 10,437 52,907 52,907 17,437 CREDITORS Amounts falling due within one year (914) (914) (890) NET CURRENT ASSETS 51.993 51,993 16,547 TOTAL ASSETS LESS CURREKr LJABILITJES 53,943 5.305 59,248 25,385 NET ASSETS 53.943 5.305 59.248 25,385 FUNDS Unre5tri¢ted fvnds R¢stri¢t¢d fvnds 53,943 5.305 6,272 TOTAL FUNDS 59,248 25,385 Th¢ Gharitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for ihe y¢ar ended 31 March 2024. The members have not required the cornpany to obrain an audii of its financial ststements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The tSteeS acknowledge their responsibilities for {a) ensuring tha( the charitable tompany keeps accounting rxord5 that comply with Sections 386 and 387 of the Companies Aci 2006 and preparing financial statements which give a thje 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 othetwise comply wth the requireTnents of the Cornpani¢5 Aot 2006 relating to finan¢ial stateTnents. so far a5 applicable to the charttsble cotnpany. (b) These financial 5tstements have been Prepared in accordance with the provisions applicable to charitable companies Subject to the small companies regime. The financial statements were approved by th¢ Board of Trustee5 and authorised for issue on 13 December 2024 and were signed On its behalf by.. M R Marston- Truste¢ The notes forni part of these financial sthtements Page 6
Woodsfide Cratts Notes to the Finxneial Ststements For Tht YtAr Ended 31 March 2024 ACCOUNTING POLICIES Basis of pr¢paring the fin4p¢ial ststeweTrts The fmancial ststements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities So1 (FRS 102) 'A¢¢ounting and R¢portillg by Chariti¢s'. Ststement of Recommended Practice applicable to clwiues preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of ITelalld IFRS 102) (¢ffective l January 2019)., Financial Reporting Standard 10? Tr Financial Reporting Stsndard applicable in the UK and R¢publi¢ of ITeland' and the Cornpanies Act 2006. Th¢ ffft8n¢id stsiements bave been prepared under the histori¢ cost convention. Income All incorne is recogTLised in the Staitynent of Financial Activities once the charity has entitlement to the funds, it is probable that the incotne will be received and the amount Can be me&wred reliably. Exp¢ndSturt Liabilities are recognis¢d as expenditure as soon as there is a legal or ConStntive obligation cOnltting 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. Expenditr is atcount¢d for OD an ac¢rnals basis and h&s been classified under headings that aggregate all cost related to th¢ category. Where ¢osts wnot be directly attril)uted to wicular headings they have be¢n alli)c#*d activities on a basis consistent with the use of resources. T4ngibl¢ flxed assets Depreciation is provided at the following annual rntes ill OTd¢r to write off each asset over Tts estimated useful life. Stocks Stocks are vamed at the lower of cost and net Tealisable value. after making due allowance for ob501ete and slow moving itenL%. Tautio Th¢ ¢hartty is exempt from ¢orpontioTh tax on its charitable artivities. FuDd accountiryg Unrestricted fimds can be used in accordw with th¢ thaTitable objectives tbe discretion of the trustees. Restricted funds can onty be used for particular restri¢ted PWFM)ses within the objects of the charity. R¢5triclions arise when specified by the donor or when fjjnds are raised for parti¢ulaT restrithd purposes. Further explanation of the natsjre and purp05¢ of eath fimd is included in the notes ¢0 the financial statements. Hire purehase ¥4nd leasing eolltml¢meuts Rentals paid Under op¢rattng l¢a5es are charged to the stsietnent of FInala1 Aaivities on a straight line basis over the period of the Ie. Page 7 continued...
Woodside Crafts Noles to the Flnanelal Statements- continued For Tht Yur Emded 31 M4rch 2024 OTHER TRADING ACTIVITIES 2024 2023 Shop income Tuition fees 2,990 1,033 725 3,765 4,023 4,490 NET INCOMEIIEXPENDITURE) Net incomal(expenditure) is stated ufter ¢harginyJ(¢rediting).' 2024 2023 tkpreciation- oTred a55¢ts Hir¢ of plant and llkchillery Other operating leases 1.583 216 17,554 1,684 216 2,725 TRUSTEES, REMUNERATION AND BENEFITS There were no thjstees. remuneration or other benefits for the year ended 31 Mah 2024 nor for th¢ year ¢nd¢d 31 Mah 2023. Trn5t¢es' ¢XP¢DS¢% TheTe w¢re no trusrees, expeDses paid for the year ended 31 Mar¢h 2024 Tr forthe y¢8r ended 31 Mar¢b 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTtVlTIES UE]restricted Restricted fund fimds Total )Imds INCOME AND ENDOWMENTS FROM Donations and legacies 5.829 5,829 Other tradin8 activities 4.490 4,490 Total IOJ19 10,319 EXPENDITURE ON Raising fuDds 1.908 1.908 Ch¥Tltabl¢ Ictlvltle4 Other Costs 8,(NJ8 1.107 9,115 Total 9.916 1.107 11,023 NET INCOMEI{EXPENDITURE) 403 (1,107) {704) RECONCILIATION OF FUNDS Total funds brou8ht forward 18.710 7.379 26,089 TOTAL FUNDS CARRIED FORWARD 19.113 6.272 25.385 Page 8 continued...
Woodside Cnfts Notes to the Financial StsteThenls- eontillued For The Year Ended 31 Mareb 2024 TANGIBLE FIXED A&SETS Tools and Con)pu equipment equipm¢Dt Totals COST At l April 2023 and 31 March 2024 20.934 2.035 22,969 DEPRECIATION At l April 2023 Charge for year 12,586 1.436 1.545 147 14,131 ,583 At 31 March 2024 14.022 .692 15.714 NET BOOK VALUE Al 31 March 2024 6,912 343 7,255 Ai 31 Marcb 2023 8.348 490 8,838 STOCILS 2024 2023 Stocks 9,0(M) 7.wo CREDrroRS: Amouiyfs FALLING DUE WITHIN OT4E YEAR 2024 2023 Accrued expenses 914 890 MOVEMENT IN FUNDS Nct Jnovement ill fi]nds At 31.3.24 At 1.4.23 Unrestricted funds General fi]nd 19.113 34.830 53.943 Restricted funds Grant for Laser EnVer Donations for LaseT Engraver Grdnt for Bandsaw 3.771 1.509 992 (566) (226) (175) 3,205 1,283 817 6272 (967) 5.305 TOTAL FUNDS 25.385 33.863 59.248 Page 9 continue41..
Woodside Crdfts Notes to the Financial Ststem¢nts- coDtinued For The Yr Ended 31 Mareh 2024 MOVEMENT IN FufqDS- eoDtinued N¢t movement in fimds. included in the above are as follow5: Incoming Resowces resources expended Movement in fimd5 Unrestricted fund5 Genernl fimd 59,639 {24,809) 34.830 Restricted funds Grant for Laser Engraver Donations for La%er Engrnver Grdnt for Bandsaw (566) (226) (175) (566) (226) (175) (967) (967) TOTAL FUNDS 59.639 (25,776) 33,863 Comp#rativ¢$ foT Jnov¢Jn¢ttt in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 18,710 403 19.113 Restricted fuDds Grant for Laser Engraver Donations for L95er Engraver Grant for Bandsaw 4.437 1,775 1,167 (666) (266) (175) 3.771 1.509 992 7,379 {1,107) 6,272 TOTAL FUNDS 26,089 {704) 25,385 Compa1¥¢ net movement tn fids. included ill the above are as follows: IDwming resources Resources expended Movement in fidS UllrnstrS¢led fuDd$ General fund 10.319 (9.916) 403 Restricted fndS Grant foT Laser Engraver Donations for Laser Engrav Grant for Bandsaw (666) (266) (175) {666) {266) {175) (1,107) (1.107) TOTAL Fuf4DS 10,319 (11.023) (704) Page 10 ontinued..
Woodside Crafts Notes to the Finaneial Statements- continued For The Year Ended 31 Mah 2024 MOVEMETrrr IN FUNDS- coThlID¢d A Current year 12 months and prior year 12 months combined position is &5 follow5.' Net movement in fimds At 31.324 At 1.422 Unre5trieted fund$ General fund 18,710 35233 53,943 Restrict fud5 Grant foT La5¢r Engraver Donations for Laser Enwdver Grant for Bandsaw 4,437 ,775 ,167 (1232) {492) (350) 3.205 1,283 817 7,379 (2.074) 5.305 TOTAL FUNDS 26.089 33.159 59248 A current year 12 months and PriOT year 12 months combined net movement in fijnds. included in the above are as follows-. JJJcoming Resour¢&s expendeAJ Mov¢ment in fimds Unrestricted funds GeneTal fimd 69.958 (34,725) 35.233 Restricted fuDd5 Grdnt for Las¢r EDgrav¢r DonatiOll5 for Lr Engraver Grant for Bandsaw (1,232) (492) (350) (1.232) (492) (350) (2.074) (2,074) TOTAL FUNDS 69.958 (36.799) 33,159 io. RELATED PARTY DISCLOSURES TheTe were no related party transactions for the ended 31 March 2024. Page 11
Woodside Crnfts Detailed St4t¢meDt of Financial Activities FOT The Ye#r Ended 31 March 2024 2024 2023 INCOME AND ENDOWMENrs Donations and legacie5 Donations 55,616 5.829 Oth¢r trnd5ng 8Ctivltles Shop income Tuition f¢¢s 2,990 1.033 725 3,765 4,023 4,490 Total iDeoming resources 59.639 10.319 EXPENDITURE Other trading gctivitl¢s Opening stock Purchases Closing stk 7,(M)O 2,082 (9,(M)O) 6.300 2,608 {7,000) 82 1.908 Support eosts Management Rent R*¢s and wat¢r Insurance Light and heat T¢l¢phoTh¢ and postsg¢ Siationery Sundries Cleaning expenses Travelling expenses Tools and equipment Computer equipment 17,554 308 544 1.181 ,266 75 640 174 2.725 271 534 726 315 117 584 165 86 1,473 211 1.435 147 23.324 7207 Fin&nce Hire of equipment Bank Chg¢S 216 335 216 266 551 482 Information technology Repairs and renewa15 414 511 Governance Costs Accountancy and legal fee5 1,405 915 Total T¢soufce5 expended 25,776 11,023 Net incomel(expenditur¢} 33,863 {704) This page does not form part of the 5tatuÈory finan¢ial ststements Page 12