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← Woodwork To Wellness

2024-08-31-accounts

Company registration number: CE008215 Charity registration number: 1170218

Woodwork to Wellness

(A company limited by share capital) Annual Report and Financial Statements

for the Year Ended 31 August 2024

Shaw Mitchell Partnership Limited Bank House 71 Dale Street Milnrow Rochdale Lancashire OL16 3NJ

Shaw Mitchell Partnership Limited Bank House 71 Dale Street Milnrow Rochdale Lancashire OL16 3NJ

Woodwork to Wellness

Contents

Reference and Administrative Details 1
Strategic Report 2
Trustees' Report 3 to 5
Independent Auditors' Report 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 21

Woodwork to Wellness

Reference and Administrative Details

Charity Registration Number 1170218 Company Registration Number CE008215 Registered Office Unit 4b Saltney Business Centre Saltney Chester CH4 8SE Independent Examiner Shaw Mitchell Partnership Limited Bank House 71 Dale Street Milnrow Rochdale Lancashire OL16 3NJ

Page 1

Woodwork to Wellness

Strategic Report for the Year Ended 31 August 2024

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 August 2024, in compliance with s414C of the Companies Act 2006.

The strategic report was approved by the trustees of the charity on 27 June 2025 and signed on its behalf by:

......................................... Ms J M McCormick Trustee

Page 2

Woodwork to Wellness

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 August 2024.

Objectives and activities

Public benefit

The provision of multiple craft-based facilities to promote social inclusion for the public benefit, including ex forces personnel, by preventing people from becoming socially exculded, relieving the needs of those people who are socially excluded and assisting them to intergrate into society.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Structure, governance and management Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.

The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Page 3

Woodwork to Wellness

Trustees' Report

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Statement of trustees' responsibilities

The trustees (who are also the directors of Woodwork to Wellness for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Page 4

Woodwork to Wellness

Trustees' Report

The annual report was approved by the trustees of the charity on 27 June 2025 and signed on its behalf by:

......................................... Ms J M McCormick Trustee

Page 5

Woodwork to Wellness

Independent Auditor's Report to the Members of Woodwork to Wellness

Opinion

We have audited the financial statements of Woodwork to Wellness (the 'charity') for the year ended 31 August 2024, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going 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 statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Page 6

Woodwork to Wellness

Independent Auditor's Report to the Members of Woodwork to Wellness

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of trustees' responsibilities (set out on page 4), 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 misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements 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 statements.

Page 7

Woodwork to Wellness

Independent Auditor's Report to the Members of Woodwork to Wellness

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... (Senior Statutory Auditor) For and on behalf of Shaw Mitchell Partnership Limited, Statutory Auditor

Bank House 71 Dale Street Milnrow Rochdale Lancashire OL16 3NJ

27 June 2025

Page 8

Woodwork to Wellness

Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Unrestricted Total
funds 2024
Note £ £
Income and Endowments from:
Other trading activities 3 115,914 115,914
Total income 115,914 115,914
Expenditure on:
Raising funds 4 (43,478) (43,478)
Charitable activities 5 (35,657) (35,657)
Total expenditure (79,135) (79,135)
Net income 36,779 36,779
Net movement in funds 36,779 36,779
Reconciliation of funds
Total funds brought forward 11,254 11,254
Total funds carried forward 17 48,033 48,033
Unrestricted Total
funds 2023
Note £ £
Income and Endowments from:
Other trading activities 3 55,911 55,911
Total income 55,911 55,911
Expenditure on:
Raising funds 4 (32,289) (32,289)
Charitable activities 5 (30,664) (30,664)
Total expenditure (62,953) (62,953)
Net expenditure (7,042) (7,042)
Net movement in funds (7,042) (7,042)
Reconciliation of funds
Total funds brought forward 18,296 18,296
Total funds carried forward 17 11,254 11,254

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 17.

The notes on pages 11 to 21 form an integral part of these financial statements. Page 9

Woodwork to Wellness

(Registration number: CE008215) Balance Sheet as at 31 August 2024

2024 2023
Note £ £
Fixed assets
Tangible assets 11 4,637 3,474
Current assets
Debtors 12 1,582 1,300
Cash at bank and in hand 13 55,803 18,297
57,385 19,597
Creditors: Amounts falling due within one year 14 (14,509) (11,817)
Net current assets 42,876 7,780
Net assets 47,513 11,254
Funds of the charity:
Unrestricted income funds
Unrestricted funds 47,513 11,254
Total funds 17 47,513 11,254

The financial statements on pages 9 to 21 were approved by the trustees, and authorised for issue on 27 June 2025 and signed on their behalf by:

......................................... Ms J M McCormick Trustee

The notes on pages 11 to 21 form an integral part of these financial statements. Page 10

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

1 Charity status

The charity is limited by share capital, incorporated in .

The address of its registered office is: Unit 4b Saltney Business Centre Saltney Chester CH4 8SE

These financial statements were authorised for issue by the trustees on 27 June 2025.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Woodwork to Wellness meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

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Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 12

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Page 13

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 15

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

3 Income from other trading activities

Unrestricted
funds Total
General funds
£ £
Trading income;
Shop income from sale of donated goods and services 115,914 115,914
Total for 2024 115,914 115,914
Total for 2023 55,911 55,911

4 Expenditure on raising funds

a) Costs of trading activities

Unrestricted
funds Total
General funds
Note £ £
Costs of goods sold 7,482 7,482
Depreciation, amortisation and other similar costs 2,405 2,405
Other direct costs of activities for generating funds 2,551 2,551
Total for 2024 12,438 12,438
Total for 2023 4,231 4,231

Page 16

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

b) Investment management costs

Unrestricted
funds Total
General funds
Note £ £
Allocated support costs 6 1,537 1,537
Total for 2024 1,537 1,537
Total for 2023 2,085 2,085
Total
costs
£
5 Expenditure on charitable activities
Unrestricted
funds Total
General funds
Note £ £
Governance costs 6 35,657 35,657
Total for 2023 30,664 30,664
Total
expenditure
£

In addition to the expenditure analysed above, there are also governance costs of £35,657 (2023 - £30,664) which relate directly to charitable activities. See note 6 for further details.

6 Analysis of governance and support costs

Governance costs

Page 17

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Unrestricted
funds Total
General funds
£ £
Staff costs
Wages and salaries 6,000 6,000
Pension costs 437 437
Other staff costs 312 312
Legal fees 337 337
Other governance costs 28,571 28,571
Total for 2024 35,657 35,657
Total for 2023 30,664 30,664
7
Net incoming/outgoing resources
Net incoming/(outgoing) resources for the year include:
2024 2023
£ £
Loss on disposal of fixed assets held for the charity's own use - 1,140
Depreciation of fixed assets 2,405 1,009
8
Trustees remuneration and expenses
9
Staff costs
The aggregate payroll costs were as follows:
2024 2023
£ £
Staff costs during the year were:
Wages and salaries 35,503 25,973
Pension costs 437 569
Other staff costs 312 -
36,252 26,542

No employee received emoluments of more than £60,000 during the year.

Page 18

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

11 Tangible fixed assets

11 Tangible fixed assets
Furniture and
equipment Motor vehicles Total
£ £ £
Cost
At 1 September 2023 15,378 - 15,378
Additions 2,494 2,600 5,094
At 31 August 2024 17,872 2,600 20,472
Depreciation
At 1 September 2023 11,904 - 11,904
Charge for the year 3,411 520 3,931
At 31 August 2024 15,315 520 15,835
Net book value
At 31 August 2024 2,557 2,080 4,637
At 31 August 2023 3,474 - 3,474
12 Debtors
2024 2023
£ £
Trade debtors 1,582 1,300
13 Cash and cash equivalents
2024 2023
£ £
Cash on hand 1,225 1,593
Cash at bank 54,578 16,704
55,803 18,297

14 Creditors: amounts falling due within one year

Page 19

Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

2024 2023
£ £
Trade creditors 24 109
Other taxation and social security 13,425 9,541
Other creditors 244 1,441
Accruals 816 726
14,509 11,817

15 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £437 (2023 - £569).

16 Share capital

17 Funds

17 Funds
Balance at 1
September Incoming Resources Balance at 31
2023 resources expended August 2024
£ £ £ £
Unrestricted funds
General 11,254 115,914 (79,655) 47,513
Balance at 1
September Incoming Resources Balance at 31
2022 resources expended August 2023
£ £ £ £
Unrestricted funds
General 18,296 55,911 (62,953) 11,254

18 Analysis of net assets between funds

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Woodwork to Wellness

Notes to the Financial Statements for the Year Ended 31 August 2024

Unrestricted Total funds at
funds 31 August
General 2024
£ £
Tangible fixed assets 4,637 4,637
Current assets 57,385 57,385
Current liabilities (14,509) (14,509)
Total net assets 47,513 47,513
Unrestricted Total funds at
funds 31 August
General 2023
£ £
Tangible fixed assets 3,474 3,474
Current assets 19,597 19,597
Current liabilities (11,817) (11,817)
Total net assets 11,254 11,254
19 Analysis of net funds
At 1 September At 31 August
2023 2024
£ £
Cash at bank and in hand 18,297 18,297
Net debt 18,297 18,297
At 1 September At 31 August
2022 2023
£ £
Net debt - -

20 Related party transactions

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Woodwork to Wellness

Statement of Financial Activities by fund for the Year Ended 31 August 2024

Unrestricted Funds

Unrestricted Funds
Total Total
Unrestricted Unrestricted
Funds Funds
2024 2023
£ £
Income and Endowments from:
Other trading activities 115,914 55,911
Total income 115,914 55,911
Expenditure on:
Raising funds (43,478) (32,289)
Charitable activities (35,657) (30,664)
Total expenditure (79,135) (62,953)
Net income/(expenditure) 36,779 (7,042)
Net movement in funds 36,779 (7,042)
Reconciliation of funds
Total funds brought forward 11,254 18,296
Total funds carried forward 48,033 11,254

This page does not form part of the statutory financial statements. Page 22

Woodwork to Wellness

Detailed Statement of Financial Activities for the Year Ended 31 August 2024

Total Total
2024 2023
£ £
Income and Endowments from:
Other trading activities (analysed below) 115,914 55,911
Total income 115,914 55,911
Expenditure on:
Raising funds (analysed below) (43,478) (32,289)
Charitable activities (analysed below) (35,657) (30,664)
Total expenditure (79,135) (62,953)
Net income/(expenditure) 36,779 (7,042)
Net movement in funds 36,779 (7,042)
Reconciliation of funds
Total funds brought forward 11,254 18,296
Total funds carried forward 48,033 11,254

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Woodwork to Wellness

Detailed Statement of Financial Activities for the Year Ended 31 August 2024

Total Total
2024 2023
£ £
Other trading activities
Donations, grants and shop income 115,914 55,911
115,914 55,911
Raising funds
Purchases (7,482) (1,580)
Wages and salaries (29,503) (25,973)
Motor expenses (2,551) (502)
Depreciation of fixtures and fittings (2,405) (1,009)
(Profit)/loss on disposal of tangible fixed assets - (1,140)
Accountancy fees (1,537) (2,085)
(43,478) (32,289)
Charitable activities
Wages and salaries (6,000) -
Staff pensions (Defined contribution) - pension scheme 1 (437) (569)
Staff welfare (312) -
Rent (15,432) (12,860)
Rates (1,175) (1,059)
Light, heat and power (6,505) (4,698)
Insurance (157) (533)
Repairs and renewals (1,006) (847)
Telephone and fax (1,659) (923)
Printing, postage and stationery (673) (105)
Sundry expenses (147) (2,135)
Web & internet costs NC220 (1,616) -
Legal and professional fees (337) (6,750)
Bank charges (201) (185)
(35,657) (30,664)

This page does not form part of the statutory financial statements. Page 24