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← Solihull Moors Foundation

2024-06-30-accounts

Charity registration number 1177282

Company registration number CE013347 (England and Wales)

SOLIHULL MOORS FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

SOLIHULL MOORS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number

Company number

Registered office

Independent examiner

Mr B Brown Ms C Issacs Mr S Brown Mr B Bevan

1177282

CE013347

SportNation.Bet Stadium Damson Parkway Solihull West Midlands B92 9EJ

Jerroms Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH

(Appointed 8 May 2024) (Appointed 22 October 2023)

SOLIHULL MOORS FOUNDATION

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 7 - 16

SOLIHULL MOORS FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2024

The Trustees present their annual report and financial statements for the year ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Solihull Moors Foundation's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity’s objectives are to assist in community participation in healthy recreation, by providing facilities for the playing of association football and other sports, capable of improving health and fitness.

The Foundation achieves these objectives by approaching its aims in two areas – football and community.

Football focuses on three core programmes. Youth and Juniors, Football and Education, and Women’s. The Foundation continues to look to grow all aspects of each programme.

Currently, the foundation runs over 70 teams both junior and senior teams.

Community engagement happens in a number of areas – After School Clubs, HAF football camps, a foster care programme, supporting elderly people in care homes, women’s health and well-being, disabled football as well as mental health support and wellbeing.

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities Solihull Moors Foundation should undertake.

Our inclusive activities, support people of all ages from the Solihull area. Over the last year we have continued to support people across our core work, of sports participation, health and well-being and disability and inclusion. This has seen a number of different projects delivered within the community.

Achievements and performance

During the last financial year, the foundation saw a significant number of successes, across all age groups within Football, while expanding its community operations through local partnership and new funding sources which have allowed for the initiation of new engagements.

The foundation has continued to focus, on building local partnerships and links to ensure our impact goes beyond the football club and as far into the community as possible.

Our inclusive activities, support people of all ages from the Solihull area. Over the last year we have continued to support people across our core work, of sports participation, health and well-being and disability and inclusion. This has seen a number of different projects delivered within the community.

Going concern

The trustees have prepared the financial statements on a going concern basis, despite the charity reporting deficits, for the past two consecutive years. The continuation of the charity's operations, is contingent upon ongoing financial support from the football club.

The football club, has assured the trustees of its commitment to provide the necessary financial assistance, for at least the next 12 months, from the date of approval of these financial statements. This assurance underpins the trustees' decision to adopt the going concern basis, for these accounts.

Since the year end, the charity has made steps to reduce its overhead base and continues to operate within its financial resources.

However, if this support were to be withdrawn, the trustees of the CIO believe recent developments in the business model will be sufficient to sustain the CIO and are anticipating a surplus in the 2024/25 year.

SOLIHULL MOORS FOUNDATION

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Financial review

The net deficit for the year amounted to £59,640 (2023: £98,671) which is mainly attributable to the costs relating to venue and pitch hire, along with the wages costs, which have been paid by the Foundation since October 2021 for the provision of full time coaches and support staff.

The charity aims to maintain funds, at a level equivalent to meet day to day running costs in the event of major variation of circumstances.

Reserves Policy

The Trustees will monitor the reserves, to ensure they will be able to continue the company’s current activities while consideration is given to ways in which additional funds may be raised.

Given the current financial challenges and an insolvent balance sheet, the charity has implemented a reserve policy to manage its finances on a short-term basis.

The primary objective of this policy is to create an internal line of credit to manage cash flow and sustain operations.

Structure, governance and management

The Solihull Moors Foundation is a registered charity with the charity commission.

The Trustees who served during the year and up to the date of signature of the financial statements were: Mr B Brown

Mr M Seabrook (Resigned 29 September 2023) Ms J A Barnett (Resigned 31 May 2024) Ms C Issacs Mr C Craske (Resigned 31 October 2023) Mr J D A England (Resigned 10 September 2024) Mr B Adebola (Resigned 31 January 2025) Mrs J Rohel (Resigned 31 January 2025) Mr B Bevan (Appointed 22 October 2023) Mr S Brown (Appointed 8 May 2024)

None of the Trustees have any beneficial interest in the Foundation. All the Trustees are members of the Foundation but have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Policy decisions are made by the Trustees. The day to day operation is managed by the CEO under the delegated authority of the Trustees. The Trustees maintain a watching brief and hold regular meetings, to which the CEO reports.

The Trustees report was approved by the Board of Trustees.

Mr B Brown Trustee

30 April 2025

SOLIHULL MOORS FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOLIHULL MOORS FOUNDATION

I report to the Trustees on my examination of the financial statements of Solihull Moors Foundation for the year ended 30 June 2024.

Responsibilities and basis of report

As the Trustees of the Solihull Moors Foundation (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Solihull Moors Foundation 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 the Solihull Moors Foundation’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Solihull Moors Foundation’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants, 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 that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Lucas Markou FCCA Jerroms Chartered Certified Accountants

Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH

Dated: 30 April 2025

SOLIHULL MOORS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 557,600 645,796
Charitable activities 4 103,264 72,493
Investments 5 4,617 15,816
Total income 665,481 734,105
Expenditure on:
Charitable activities 6 719,121 824,776
Other 10 6,000 8,000
Total expenditure 725,121 832,776
Net expenditure for the year/
Net movement in funds (59,640) (98,671)
Fund balances at 1 July 2023 10,052 108,723
Fund balances at 30 June 2024 (49,588) 10,052

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SOLIHULL MOORS FOUNDATION

BALANCE SHEET

AS AT 30 JUNE 2024

2024
2023
Notes
£
£
£
Fixed assets
Goodwill
11
130,500
Tangible assets
12
7,318
Current assets
Debtors
13
168,845
127,410
Cash at bank and in hand
60,432
49,061
229,277
176,471
Creditors: amounts falling due within
one year
15
(370,683)
(252,171)
Net current liabilities
(141,406)
Total assets less current liabilities
(3,588)
Creditors: amounts falling due after
more than one year
16
(46,000)
Net (liabilities)/assets
(49,588)
The funds of the Solihull Moors Foundation
Unrestricted funds
18
(49,588)
(49,588)		 £
148,500
11,252
(75,700)
84,052
(74,000)
10,052
10,052
10,052

The foundation is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024.

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 foundation.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 30 April 2025

Mr B Brown Trustee

Company registration number CE013347 (England and Wales)

SOLIHULL MOORS FOUNDATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 20 46,755 19,773
Investing activities
Investment income received 4,616 15,816
Net cash generated from investing
activities 4,616 15,816
Financing activities
Repayment of loans (40,000) (40,000)
Net cash used in financing activities (40,000) (40,000)
Net increase/(decrease) in cash and cash
equivalents 11,371 (4,411)
Cash and cash equivalents at beginning of year 49,061 34,601
Cash and cash equivalents at end of year 60,432 49,061

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

Solihull Moors Foundation is a charitable organisation. The registered office is SportNation.Bet. Stadium, Damson Parkway, Solihull, B92 9EJ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Solihull Moors Foundation's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Solihull Moors Foundation is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Solihull Moors Foundation. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

The trustees have prepared the financial statements on a going concern basis, despite the charity reporting deficits, for the past two consecutive years. The continuation of the charity's operations, is contingent upon ongoing financial support from the football club.

The football club, has assured the trustees of its commitment to provide the necessary financial assistance, for at least the next 12 months, from the date of approval of these financial statements. This assurance underpins the trustees' decision to adopt the going concern basis, for these accounts.

Since the year end, the charity has made steps to reduce its overhead base and continues to operate within its financial resources.

However, if this support were to be withdrawn, the trustees of the CIO believe recent developments in the business model will be sufficient to sustain the CIO and are anticipating a surplus in the 2024/25 year.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the Solihull Moors Foundation is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Solihull Moors Foundation has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Solihull Moors Foundation has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of the right to carry out the business of the provision of coaching and similar services, in respect of football and other sports to schools and the community. As per the Business Purchase Agreement between Solihull Moors Foundation and Solihull Moors Football Club, signed on 1st October 2021.

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill shall be considered to have a finite useful life, and shall be amortised on a systematic basis over its life.

Goodwill is amortised over 10 years.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 33% Straight Line Motor vehicles 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the Solihull Moors Foundation reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The Solihull Moors Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Solihull Moors Foundation's balance sheet when the Solihull Moors Foundation becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Solihull Moors Foundation’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

As a registered charity, Solihull Moors Foundation is exempt from income and corporation tax to the extent that its income and gains are applicable to charity purposes only. Value added tax is not recoverable by the charity and is therefore included in the relevant costs in the statement of financial activities.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There has been no significant estimates made to date.

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 344,300 376,094
Grant income 198,537 269,702
Womens sponsorship and ticket income 14,763 -
557,600 645,796

4 Charitable activities

2024 2023
£ £
Football Activities 103,264 72,493

5 Other income

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Charitable activities 4,617 15,816

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

6 Charitable activities

Wages and national insurance
Depreciation and impairment
Football and coaching services
Bank charges
Youth and junior costs
Sundry expenses
Football kit
Football league fees
Venue and pitch hire
Executive box costs
Advertising
Travel & insurance costs
Football trophies
Food expenses
Intellectual property costs
Professional fees
Consultancy and subscriptions
Fundraising activities
Share of governance costs (see note 7)
Support costs
Governance
costs
£
Accountancy
4,960
4,960
Analysed between
Charitable activities
4,960		 2024
£
142,234
21,935
79,764
4,803
38,896
2,442
17,846
3,876
322,584
-
180
9,304
5,580
-
-
1,454
61,414
1,849
714,161
4,960
719,121
2024
£
4,960
4,960
4,960		 2023
£
135,672
22,697
65,911
3,620
22,294
3,766
77,302
5,520
322,875
19,000
30,000
12,836
1,251
472
30,000
605
66,585
-
820,406
4,370
824,776
2023
£
4,370
4,370
4,370

7 Support costs

Governance costs includes payments to the accountants of £4,960 (2023- £4,370) being examiners remuneration.

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Solihull Moors Foundation during the year.

9 Employees

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
6
2024
£
135,451
5,807
976
142,234		 2023
Number
7
2023
£
129,193
5,296
1,183
135,672

There were no employees whose annual remuneration was more than £60,000.

10 Other

Unrestricted Unrestricted
funds funds
2024 2023
Loan interest paid 6,000 8,000
6,000 8,000

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

11
Intangible fixed assets
Cost
At 1 July 2023 and 30 June 2024
Amortisation and impairment
At 1 July 2023
Amortisation charged for the year
At 30 June 2024
Carrying amount
At 30 June 2024
At 30 June 2023
12
Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 July 2023
5,000
At 30 June 2024
5,000
Depreciation and impairment
At 1 July 2023
2,888
Depreciation charged in the year
1,650
At 30 June 2024
4,538
Carrying amount
At 30 June 2024
462
At 30 June 2023
2,112
13
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 Motor
vehicles
£
15,000
15,000
5,859
2,285
8,144
6,856
9,140
2024
£
136,977
31,868
168,845		 Goodwill
£
180,000
31,500
18,000
49,500
130,500
148,500
Total
£
20,000
20,000
8,747
3,935
12,682
7,318
11,252
2023
£
98,629
28,781
127,410

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

14 Loans and overdrafts

Loans and overdrafts
Loans
Payable within one year
Payable after one year		 2024
£
80,000
34,000
46,000		 2023
£
120,000
46,000
74,000

A Business Purchase Agreement was signed on October 1 2021 between Solihull Moors Foundation and Solihull Moors Football Club in order that the Foundation acquired the rights of all coaching and similar services in the Solihull and Birmingham area.

This included the running of football teams for boys and girls, the operation of the Solihull Moors Women's Football Team, other teams associated therewith and the operation of holiday camps, open to 5-14 age group.

The purchase price of the business and assets was £200,000, with interest payable of 5% per annum, over a 5 year term.

15 Creditors: amounts falling due within one year

Notes
Loans
14
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
16
Creditors: amounts falling due after more than one year
Notes
Loans
14
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
34,000
1,659
329,393
581
5,050
370,683
2024
£
46,000
2024
£
976		 2023
£
46,000
1,610
200,505
6
4,050
252,171
2023
£
74,000
2023
£
1,183

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

17 Retirement benefit schemes

(Continued)

The Solihull Moors Foundation operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Solihull Moors Foundation in an independently administered fund.

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2023
Incoming
resources
Resources
expended
At
£
£
£
General funds
10,052
665,481
(725,121)
Previous year:
At 1 July 2022
Incoming
resources
Resources
expended
At
£
£
£
General funds
108,723
734,105
(832,776)		 30 June
2024
£
(49,588)
30 June
2023
£
10,052

SOLIHULL MOORS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

19 Related party transactions

Transactions with related parties

During the year the Solihull Moors Foundation entered into the following transactions with related parties:

The trustees consider that Solihull Moors Football Club CIC ("the football club") is a related party of the charity by virtue of its significant influence.

Within other creditors, is an amount owed to Solihull Moors Football Club of £323,204 (2023:£198,455) for activities carried out.

20
Cash generated from operations
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase in creditors
Cash generated from operations		 2024
£
(59,640)
(4,617)
21,935
(41,435)
130,512
46,755		 2023
£
(98,671)
(15,816)
22,697
(9,588)
121,151
19,773