Charity registration number 1181770 LITTLE LOUNGE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LITTLE LOUNGE CONTENTS Page Trustees. retx)rt Independent examiner's report Statement of financial activities Balance sheet Notes lo the financial slalemtrnls 8-25
LITTLE LOUNGE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities Aim and Objectivas Little Lounge's aim is to support and facilitate the wellbeing of residents of Cilfynydd and wider Pontypridd. The Objects of the charity as set out in the 2019 Constitution are.. To advance in life and help children and young people through.. the provision of recreational and leisure lime activities provided in the interest of social welfare, designed to improve their conditions of life., providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. To promote for the benefit of the inhabitants of Cilfynydd IRCTI and the surrounding area the provision of facilities for recreation or other leisure lime occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstsns or for the public al18rge in the interests of social welfare and with the object of improving the Condition of life of the said inhabilanls. Activities & Objectives Overview: Iv QbJooiL1: 'To advance in life and help children and young people... Baby Group.. Weekly opportunity for local parents to interact, be supported and make friends. Opportunities for children in their earfy years to gain social skills and experience sensory activities such as singing, movement, story-telling, role play. messy play. Outdoor Adventures.. Outdoor nature-based activities for children and parentslcarers to experience learning through play and exploration. Providing access to outdoor play spaces where gardens and parks may be inaccessible. Seasonal events.. Low-cost multi-sensory events for local families to enjoy e.g. Summer Family Fun Day with animal road show, Pumpkin Patch and Outdoor Christmas Market. Ob eclive 2.. 'Inhabilanls of Cilfynydd of all ages... with the object of improving the condition of life of the said inhabitants. Community Pantry.. Weekly food distribution project, making fresh fruit, vegetables and bakery rftems available to the local community al low cost. Winter Warm Hub.. November-march 8 weekly drop-in session providing free hol drinks and soup. Free craft activities to promote well- being and friendship.
LITTLE LOUNGE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achlav8m8nts and rfOrmanc The year began with our regular Baby Group running weekly in the Community Centre, serving an average of 20 families each week, with a consistent team of five volunteers. The Community Pantry continued lo serve residents of Cilfynydd with Iow-cost fresh fruit, vegetables and bakery items, distributed through a partnership scheme with Fareshare and Tesco Extra. The Iruslees are grateful to Beulah Baptist Church Cilfynydd for their generosity in allowing Little Lounge volunteers lo run the Pantry at their hurch building during the ongoing renovations of The Basement venue. The renovation project overran its eslimaled timesc4le significantly and was eventually completed in July 2023. Significant logistical issues included sleel-framed windows being delayed in Eastem Europe and the positioning of the Coffee Bar being loo Close in proximity lo the WC for Environmental Health stsndards. Th8nkfully, with advice from the Environmental Health department, a resolution was found to relocate the coffee equipment to the temporary kitchen area, and the Café was able to open for a soft launch in August 2023. The trustees are thankful to Emma Haines for all the additional work she did on building storage shelves and setting LJP the till system to ready The Basement for opening in September 2023. A wonderful celebration evening was held at The Basement and attended by stsff and volunteers, funders, partners and Cynon Valley MP, Beth Winter. During the year The Basement has hosted many projects and activities including.. Eco Shop, Community Pantry, Baby Group, Craft Club, Seasonal events, Winter Warm Hub, Half term children's activities, eventing workshops and Seasonal events such as Pumpkin Patch and a Christmas Market. Katie Hadley had lo make the difficult decision to not reopen the Baby Group in the Community Centre in September 2023. Sadly, the group lost three key volunteers over the summer break and reopening in September became an impossibility. The trustees agreed that focusing the staff and volunteer efforts on making The Basement sucSsful as a community venue was the main priority for this season. The trustees would like to thank our partners.. Cilfynydd Community Centre Rhondda Cynon Taf Council Fareshare Cymru Tesco Extra Upper Boat Beulah Baptist Church, Cilfynydd The trustees express their thanks lo Rhondda Cynon Taf CBC for their continued support of Little Lounge aclivilies, in p8rti¢ular with the award of the Shared Prosperity Fund which has ¢onlribuled signifi¢anlly towards Little Lounge's work for the period of 2023-2024.
LITTLE LOUNGE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Results The charity made an operational unrestricted surplus before transfers of £13,12412023.. £5,961 defi¢ill. The ¢harity undertook phase 1 of the refurbishmtrnl of the bastrment during the year with Completion in July 2023. Capital ¢osls incurred lotslled £24,763 12023.. £90.3571. A18rge portion of the ¢apitsl costs were covered by grant funding. Reserves policy The trustees decided to maintsin a small financial reserve, approximately equivalent to the normal, predictable outgoings in one month. Al the year end the charity had £14,793 free reserves. The charity is able lo pay 115 liabilikn'es as they fall due and has not identified any pinch points in ils cash flow over future periods. structure. governance and management Goveming document and structure Little Lounge is a registered Charitable Incorporated Organisalion, the goveming document is the Conslilulion dated 21.1.2019. Appointment of trustees Appointment of trustees is done in accordan with paragraph 10 of the Conslilulion Organlsatlonal structur& DLJring the accounting period all decisions were made by the board of trustees. Delegated responsibility is given to the senior employees Katie Hadley, Charity Manager and Iduring her employment, which ended in January 20241 Emma Haines, Adminislration and Finance Manager.
LITTLE LOUNGE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reference and administrative details Charlty nUMr 1181770 Principal offi¢e Cilfynydd Community Centre Howell Street Pontypridd CF37 4NR Trustees Suzanne Spooner Elizabeth Comissiong Peter Bevan - resigned 24104123 Helen Jones Mark Pont- resigned 15105124 Key management personnel Katie Hadley (Manager) Emma Haines (Admin and Finance Managerl- resigned 08101124 Independent examiners Azets Audit SeNices Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB Bankers Santander Fraternal Parade Pontypridd CF37 4UH HSBC 92A Taff Street Pontypridd CF37 4UH The trustees. report was approved by the Board of Trustees. Suzanne Spooner (Trustee) Dale.. .1611125.......................................
LITTLE LOUNGE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LirrLE LOUNGE I report lo the Iruslees on my examination of the financial slalements of Little Lounge (the charilyl for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in a¢¢ordan¢e with the requirements of the Charities Act 2011 (the 2011 Act}. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement Your attention is drawn to the fact that the charity has prepared financial slalements in aCCordare wth Accounting and Reporting by Charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities". Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act", or the financial slalements do not accord with those records.. or the financial slalements do not comply wth the applicable requirements conceming the form and content of accounts set out In the Charities (Accounts and Reportsl Regulations 2008 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. I have no concems and have come across no other mallers In connection with the examinats.on to which attention should be drawn in this report in order lo enable a proper understanding of the financjal slalements lo be reached. Andrew Howells Azets Audit Services Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom 24 January 2025 Dateo.
LITTLE LOUNGE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total As ro$tat•d 2023 2024 2024 2024 2023 2023 Notes Donations and legacies Charitsble activities Other trading a¢tivilies 12,397 22 12,397 97,387 7,729 1,544 7,729 118,973 97,365 117,429 5,683 5,683 79 79 Total income 18,102 97,365 115,467 9,352 117,429 126,781 Ex andi Raising funds ur8 168 168 12 12 Charitable activities 4,810 56,365 61,175 15,301 57,645 72,946 Total expendlture 4,978 56,365 61,343 15,313 57,645 72,958 Nèt Incomlng resour¢•$ befor* tran$fer$ 13,124 41,000 54,124 15,9611 59,784 53,823 Gross transfers between funds 46,892 146,8921 83,734 183,7341 Net incomellexpenditurel for the yearl Net movement in funds 60,016 15,8921 54,124 77,773 123,9501 53,823 Fund balances at 1 April 2023 81,591 42,250 123,841 3,818 66,200 70,018 Fund balanco$ at 31 March 2024 141,607 36,358 177,965 81,591 42,250 123,841 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies.
LITTLE LOUNGE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 12 126,814 92,497 Current assets Debtors Cash at bank and in hand 13 9,056 68,460 49,381 77,516 49,381 Creditors= amounts falling due within one year 14 120,8411 110,5641 Nel current assets 56,675 38,817 Total assèts lèss currènt Ilabllltl8s 183,489 131,314 Creditors-. amounts falling due after more than one year 15 15,5241 17,4731 Net assets 177,965 123,841 Income funds Restricted funds Unrestricted funds Designated funds General unrestri¢ted funds 18 36,358 42,250 19 126,814 14,793 92,497 110,9061 141,607 81,591 177,965 123,841 The financial stslemenls were approved by the Trustees on .1511125..... Suzanne Spooner {Trustee) Date: .1611125..................................
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Little Lounge is a charitable incorporated organisation whose principal office is Cilfynydd Community Centre, Howell Street, Ponlypridd, CF37 4NR. 1.1 Accountlng convèntlon The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 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 IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Slalement of Cash Flow5. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred lo in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial slalemenls have been prepared under the historical Cost convention. The princip81 accounting policies adopted are sel out below. 1.2 Going concern At the lime of approving the financial slalemenls, the trustees have a reasonable expe¢tslion that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the lrntslees ¢ontinue to adopt the going concern basis of accounting in preparing the financial ststemenls. 1.3 Charltabla funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are sel out in the notes to the financial statements. R&slri¢l&d funds a subjtrcl lo specific Conditions by donors as lo how they may b& used. The purposes and uses of the restricted funds are sel out in the notes to the financial ststements. 1.4 In¢omo Income is recognised when the charity is legally entitled lo il after any perf0rrnan 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 charity has been nottfied of the donation, unless performance conditions require deferral of the amount.
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continuedl Income from grants, whether 'capilal' grants or 'revenue' grants, is recognised when the charity has enlillement lo the funds, any performance conditions attached to the grants have been mel, il is probable that the income will be received and the amount can be measured reliably and is not deferred. Capitsl grants are released lo the Slalemenl of Financial Adivities in the year of receipt. Fixed assets relating to 12pilal grants are capilalised, and depreciation charged is offset against the grant income, in a reslricled fund. In¢ome raised from events and Classes is recognised in the period lo which it relates with any amounts re¢&ived in advance deferred. Income received from pantry donations is recognised when the donation tskes p18Ce. 1.5 Expèndlture Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, il 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 dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributaLle 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 lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. Expendilurtr on raising funds comprise th& Costs expendtrd in relation to fundraising activities and events. Expenditure on charitable activities includes all costs relating to the furtherance of the charills objectives as slated in the trustees report and Ihoir a$¢lated support costs. Irre¢overable VAT is ¢harged as a ¢ost against the activity for whi¢h the expenditure was in¢urred. Governan costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently rneasured al cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the Cost or valuation of assets le5S their residual values over their useful lives on the following bases.. Plant and equipment Computers 200/0 Straight line 33.33°/D Straight line Assets in the course of construction are not depreciated. 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 regnised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those asseis have suffered an impaimient loss. If any such indication exists, the recoverable amount of the assel is estimaled in order to determine the extent of the impairment loss lif any).
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continuedl 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held al call with banks, other short-term liquid inveslmtrnls with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitios. 1.9 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basi¢ Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the ¢harity's balance sheet when the Charity 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 amounis and there is an intention to setlle on a net basis or to realise the asset and settle the liability simultaneously. Basic finan¢ial assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at Iransaction price including transaction costs and are subsequently carried at amortised cosl 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. Dere¢ognltlon of flnanclal assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised al 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 al amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Arllounls payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financi81 liabilities are derecognised when the charity'5 conlraclual obligations expire or are discharged or cancelled. 10-
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continuedl 1.10 Employee benefits The Costs of short-lerm employee benefits are recognised as a liability and an expense, unless those Costs are required lo be re¢ognised as part of the Cost of stock or fixed assets. The Cost of any unused holiday enlillemenl is re¢ognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Leases Rentals payable Ljnder operating leases, are charged as an expense on a straight line basis over the term of the relevant lease. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions aboLJt the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and olher factors that are considered to be relevant. Actual results may differ from these estimates. 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 {lY that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlons and lega¢le$ Unrestricted Unrestricted funds funds As restated 2023 2024 Donations and gifts 12.397 7,729
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities As restated 2023 2024 Toddlers income Sundry income Grants 1,544 22 97,365 117,429 97,387 118,973 Analy$ls by fund Unrestricted funds Restricted funds 22 97,365 1,544 117,429 97,387 118,973 Grants PLJrple Shoots The Arnold Clark CommLJnity Fund Bule Energy Community Foundation Wales National Grid Our Community Matters WCVA Comic Relief RCT Shared Prosperity Fund People's Postcode Lottery The Rank Foundation Interlink RCT Moondance Foundation WCVA- Organic Growth Fund Land Disposal Tax Community Support (Mar 241 RCT Food Support (Dec 231 RCT Winter Hardship (Nov 231 RCT Food Support IO¢t 231 RCT Neighbourhood NetworklAug 231 People's Postcode Lottery- Magic Little Grant Interlink RCT 8,989 1,000 2,500 2,000 2,276 10,161 8.500 26,492 38,612 3,700 1,000 12,199 2,000 35,833 1,475 12,419 39,965 540 1,650 1.000 1,000 500 983 97,365 117,429 12-
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 other trading activities Unrnstrictèd Unrèstrictèd funds funds 2024 2023 Events Shop income 2,451 3,232 79 Other trading activities 5,683 79 Ralslng funds Unrestricted Unrestricted funds funds 2024 2023 Event expenses 168 12 168 12 13-
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Staff costs Depreciation and impairment Advertising, marketing and PPS Legal and professional fees Other staff and volunteer costs Premises and office expenses Proje¢l expenses SLJndry 31,500 1,697 263 701 291 8,748 10,638 20,322 193 2,421 288 733 7,874 35,621 245 53,845 67,697 Share of support costs Istre note 81 Share of governance costs Isee note 81 2,792 4,538 2,116 3,133 61,175 72,946 Analysis by fund Unreslricled funds Restricted funds 4,810 56,365 15,301 57,645 61,175 72,946 14-
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs Costs 2024 Support Governance costs ¢0Sts 2023 Staff costs Bank ¢harges Premises and office costs 1,658 674 1,658 674 1,070 632 1,070 632 460 460 414 414 Accountancy and bookkeeping fees Independent examination fees 1,838 1,838 1.459 1,459 2,700 2,700 1,674 1,674 2,792 4,538 7,330 2,116 3,133 5,249 Analysed between Charitsble activities 2,792 4,538 7,330 2,116 3,133 5,249 Governance costs includes payments lo the independent examiners of £2,70012023.' £1,674). Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the current or prior year. No trustees were reimbursed for expenses during the current or prior year. 10 Employèe$ The average monthly number of employees during the year was.. 2024 Number 2023 Number Employmont costs 2024 2023 Wages and salaries Other pension costs 32,525 633 21,024 368 33,158 21,392 Key management personnel The key management personnel of the charity received benefits totslling £33,15812023.' £21,392). There were no employees whose annual remuneration was more than £60,000. 15-
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Tangible fixed assets Assets under ¢onstrurtion Plant and equiprnent ompuler5 Totsl Cost At 1 April 2023 Additions 90,357 24,763 2,074 11,251 474 92,905 36,014 At 31 March 2024 115,120 13,325 474 128,919 Depreciation and impairment At 1 April 2023 Deprecialion charged in the year 35 1,596 373 101 408 1,697 At 31 March 2024 1,631 474 2,105 Carrying amount At 31 March 2024 115,120 11,694 126,814 At 31 March 2023 90,357 2,039 101 92,497 13 Debtors 2024 2023 Amounts falling due within one year- Trade debtors 9,056 14 Creditors: amounts falling due within one year 2024 2023 Notes Loans Trade creditors other creditors Accruals 16 1.871 956 6,063 1,674 13,373 2,724 2,700 20,841 10,564 15 Creditors: amounts falling due after more than one year 2024 2023 Notes Loans 16 5,524 7,473 16-
LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Loans and overdrafts 2024 2023 Other loans 7,568 9,344 Payable within one year Payable after one year 1,871 7,473 5,524 A loan amoLJnt of £9,344 was received during 2020121 from WCVA with interest payable after 24 months al a rate of 3Q/o. The ¢harity made their first loan payment in April 2023. Monthly loan repayments are £200. 17 Retirement benefit schemes Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £633 12023.. £3681. Arnounts outstanding at the year end totalled £7512023.. £1301. 17-
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LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Designated funds The income funds of the charity indude the following designated funds which have been set aside out of unrestricted funds by the trustees for specific PLJrposes'. Balance at 1 April 2022 Resources expended Trdnsfers Balance at 1 April 2023 Resources expended Trdnsfers Balance at 31 March 2024 Fixed asset fund 11931 92,690 92,497 11,6971 36,014 126,814 11931 92,690 92,497 11,6971 36,014 126,814 Fixed asset fund Represents the unrestricted net book value of the charity's fixed assets. Movement relates lo depreciation charge and fixed asset addilons. 23-
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LITTLE LOUNGE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Related party transactions There were no disclosable related paty transactions during the year12023 none). 25-