**REGISTERED COMPANY NUMBER: CE016375 REGISTERED CHARITY NUMBER: 1181832**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025**
## **FOR**
**THE OLD NEEDLE WORKS FOUNDATION**
SAS Accountant Ltd t/as OJW Associates 16 Hennals Avenue Webheath Redditch Worcestershire B97 5RX
**THE OLD NEEDLE WORKS FOUNDATION**
**CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31st March 2025**
||**Page**|
|---|---|
|**Chairman's Report**|1|
|**Report of the Trustees**|2 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7 to 8|
|**Notes to the Financial Statements**|9 to 18|
|**Detailed Statement of Financial Activities**|19 to 20|
**THE OLD NEEDLE WORKS FOUNDATION**
## **CHAIRMAN'S REPORT for the Year Ended 31st March 2025**
The UK's mental health crisis derives from rapidly increasing rates of anxiety, depression, and other conditions, especially among young people, leading to overwhelmed NHS services, long waiting lists, staff shortages, and rising suicides, driven by factors like pandemic stress, economic pressures, societal changes, and underfunding, with millions struggling and seeking help is straining resources.
More people, particularly young adults, are experiencing mental health issues, with common conditions like anxiety and depression increasing significantly.
Demand for mental health services has outpaced supply, with over 1.8 million people waiting for treatment, leading to significant backlogs. (Source: NHS)
Underfunding, staff shortages (especially mental health professionals), and high-throughput targets contribute to burnout and breakdowns in care.
Severe mental illness is linked to significantly reduced life expectancy, with early deaths being a major concern.
## Contributing Factors such as:
- economic inequality and broader societal changes put pressure on younger generations.
- Social media and constant connectivity present unique challenges for young people.
- While improving, stigma still affects help-seeking in some cultures.
Statistically (Source: NHS)
- Adults: Over 1 in 5 adults (22.6%) have a common mental health condition.
- Young People (17-19): Rates of probable mental disorders increased from 1 in 10 to 1 in 4 between 2017-2023.
- Suicide: The number of registered suicides in England and Wales hit its highest level since 1999 in 2023, with rising rates of self-harm and suicidal thoughts
The Old Needleworks Foundation has responded by significantly by increasing our capacity. We now have seven councillors actively engaging with service users. Such a dramatic increase is solely due to our key core of staff and to our wonderful volunteers.
It's needless to say, that without such dedicated, hard-working people, we would not be able to provide the facility we have.
So, to you all, THANK YOU.
Jon Williamsons FRSA Chairman
Page 1
**THE OLD NEEDLE WORKS FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31st March 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Old Needle Works is a community learning and support hub proving skills courses and groups to help local people with their wellbeing and mental health. We support people to make lasting positive changes to improve life quality and chances. Our premises are shared and act as an incubator for other charities and social enterprise.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Trustees are appointed at the AGM, after going through an induction and training process. Their appointment is recorded in the minutes of the meeting and no signatures of acceptance are required. The Trustees have the power to co-opt other members.
Page 2
**THE OLD NEEDLE WORKS FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31st March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Treasurers comments**
Our robust risk management procedures and the exceptional work of the management team has allowed us to maintain a strong financial position over the course of the year. We have built strong relationships with funding bodies and increased the number of suppliers that we are able to use ensuring the charity is sustainable going forward. As detailed in the formal accounts.
Our firm financial position and space available at the Old Needleworks Foundation has allowed us to expand our services, building our strategy of becoming a family centre.
## **Governance**
The Old Needleworks Foundation has now established since June 2019. During this time the trustees have established the protocols needed to fulfil their overseeing duties. This includes reviewing a financial report at the monthly trustees meeting that includes:
- The monthly cash and financial position
- Forward forecast of both profit and loss and cash position
- Financial risks and opportunities
- Grant project specific constraints
To ensure costs and value is fully captured we use the Xero financial software package. Xero contains a dashboard showing, at a glance, unpaid invoices, YTD profit and cash in cash out. Xero also contains an extensive suite of reporting tools allowing interrogation of every element of financial performance. The Xero software is being tailored to allow a project by project (grant by grant) cost capture to ease governance processes further.
Our robust financial governance procedures include a review of profit and loss and cash positions at different scenarios using a cash flow forecast spreadsheet so the trustees can understand the potential financial impact of major decisions, or the impact of significant risks or opportunities.
Our accountant to a local company OJW Associates who is significantly more supportive.
We have reduced our reserves policy from three to two months operating costs held in cash at bank.
## **Commercial risks and opportunities and mitigations**
Risks, opportunities, and mitigations are discussed on an individual basis at the trustees meeting held on the first Friday of each calendar month. In exceptional circumstances additional meeting can be held to agree an operational approach and identify potential risks and mitigation measure.
|**Significant Risks & Opportunities**|**Mitigation measures**|
|---|---|
|Loss of income from lost paid for services|Access to increased supply chain|
|Loss of income from services not delivered where grant|Agree relaxation of spend requirements from donor|
|monies already paid|bodies|
||Active members of VCSE Alliance with influencing role.|
||Development of The Old Needleworks Network as an|
|Restructure of mental health services to include VCSE|exemplar of how service can be delivered|
Page 3
**THE OLD NEEDLE WORKS FOUNDATION**
## **REPORT OF THE TRUSTEES for the Year Ended 31st March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Increased costs due to energy increases
Increased income from new or increased scope of services
Cash surplus Value chain
Ratches in place in tenant's sub leases to allow recovery of increased utilities costs
The increased space available allows us to deliver a wider range of services, becoming more resilient and less reliant on rental income
An increasing cash surplus will allow us to deliver, non-funded services to support a limited amount of individuals that would not otherwise have access to mental health support
There is an opportunity to progress to an assessment centre, we should monitor risks of lack of engagement from schools should we be referring students
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** CE016375 (Not specified/Other)
**Registered Charity number** 1181832
## **Registered office**
The Old Needlworks Cedar House Britten Street Redditch B97 6HD
## **Trustees**
G Scragg Treasurer J R Williamson Chairman P Salnicki M Westwood (appointed 24/11/2025) S Tudge
## **Independent Examiner**
SAS Accountant Ltd t/as OJW Associates 16 Hennals Avenue Webheath Redditch Worcestershire B97 5RX
Approved by order of the board of trustees on 26th January 2026 and signed on its behalf by:
J R Williamson - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OLD NEEDLE WORKS FOUNDATION**
## **Independent examiner's report to the trustees of The Old Needle Works Foundation ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2025.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, 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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Gareth Wood MAAT
SAS Accountant Ltd t/as OJW Associates 16 Hennals Avenue Webheath Redditch Worcestershire B97 5RX
26th January 2026
Page 5
**THE OLD NEEDLE WORKS FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2025**
|**Unrestricted**
**funds**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
21,882
Other trading activities
2
9,179
Investment income
3
102,529
**Total**
133,590
**EXPENDITURE ON**
Charitable activities
76,306
Other
51,490
**Total**
127,796
**NET INCOME/(EXPENDITURE)**
5,794
**RECONCILIATION OF FUNDS**
Total funds brought forward
32,710
**TOTAL FUNDS CARRIED FORWARD**
38,504|**Restricted**
**funds**
**£**
227,553
-
-
227,553
205,340
-
205,340
22,213
52,869
75,082|**2025**
**Total**
**funds**
**£**
249,435
9,179
102,529
361,143
147,059
186,077
333,136
28,007
85,579
113,586|**2024**
**Total**
**funds**
**£**
179,855
14,050
82,508
276,413
178,115
117,325
295,440
(19,027)
104,606
85,579|
|---|---|---|---|
The notes form part of these financial statements
Page 6
**THE OLD NEEDLE WORKS FOUNDATION**
## **BALANCE SHEET 31st March 2025**
|**Unrestricted**
**funds**
**Notes**
**£**
**FIXED ASSETS**
Tangible assets
7
469
**CURRENT ASSETS**
Debtors
8
9,451
Cash at bank and in hand
46,984
56,435
**CREDITORS**
Amounts falling due within one year
9
(18,400)
**NET CURRENT ASSETS**
38,035
**TOTAL ASSETS LESS CURRENT LIABILITIES**
38,504
**NET ASSETS**
38,504
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Restricted**
**funds**
**£**
-
-
75,082
75,082
-
75,082
75,082
75,082|**2025**
**Total**
**funds**
**£**
469
9,451
122,066
131,517
(18,400)
113,117
113,586
113,586
38,504
75,082
113,586|**2024**
**Total**
**funds**
**£**
239
4,519
92,862
97,381
(12,041)
85,340
85,579
85,579
32,710
52,869
85,579|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
**THE OLD NEEDLE WORKS FOUNDATION**
## **BALANCE SHEET - continued 31st March 2025**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26th January 2026 and were signed on its behalf by:
J R Williamson - Trustee
G Scragg - Trustee
The notes form part of these financial statements
Page 8
**THE OLD NEEDLE WORKS FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost Computer equipment - 33% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 9
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **2. OTHER TRADING ACTIVITIES**
|Cafe income
**3.**
**INVESTMENT INCOME**
Rents received
Deposit account interest|**2025**
**£**
9,179
**2025**
**£**
102,019
510
102,529||**2024**
**£**
14,050
**2024**
**£**
81,788
720
82,508|
|---|---|---|---|
|||||
## **4. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Depreciation - owned assets|368|168|
|Other operating leases|51,490|40,518|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|||
|---|---|---|
|**Unrestricted**
**funds**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
153,810
Other trading activities
14,050
Investment income
82,508
**Total**
250,368
**EXPENDITURE ON**
Charitable activities
130,933
Other
117,325|**Restricted**
**funds**
**£**
26,045
-
-
26,045
47,182
-|**Total**
**funds**
**£**
179,855
14,050
82,508|
|||276,413|
|||178,115
117,325|
continued...
Page 10
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
**Total**
248,258
47,182
**NET INCOME/(EXPENDITURE)**
2,110
(21,137)
**RECONCILIATION OF FUNDS**
Total funds brought forward
30,600
74,006
**TOTAL FUNDS CARRIED FORWARD**
32,710
52,869
**7.**
**TANGIBLE FIXED ASSETS**
**Fixtures**
**and**
**Computer**
**fittings**
**equipment**
**£**
**£**
**COST**
At 1st April 2024
6,407
-
Additions
-
598
At 31st March 2025
6,407
598
**DEPRECIATION**
At 1st April 2024
6,168
-
Charge for year
169
199
At 31st March 2025
6,337
199
**NET BOOK VALUE**
At 31st March 2025
70
399
At 31st March 2024
239
-|**Total**
**funds**
**£**
295,440
(19,027)
104,606
85,579
**Totals**
**£**
6,407
598
7,005
6,168
368
6,536
469
239|
|---|---|
continued...
Page 11
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|---|---|---|---|---|---|
|||||**2025**|**2024**|
|||||**£**|**£**|
||Trade debtors|||7,610|2,678|
||Prepayments|||1,841|1,841|
|||||9,451|4,519|
|**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||**2025**|**2024**|
|||||**£**|**£**|
||Trade creditors|||-|5,911|
||Social security and other taxes|||-|4,732|
||Other creditors|||7,600|598|
||Accruals and deferred income|||10,800|800|
|||||18,400|12,041|
|**10.**|**MOVEMENT IN FUNDS**|||||
|||||**Net**||
|||||**movement**|**At**|
|||**At 1/4/24**||**in funds**|**31/3/25**|
|||**£**||**£**|**£**|
||**Unrestricted funds**|||||
||General fund|32,710||5,740|38,450|
||Christmas Fayre||-|54|54|
|||32,710||5,794|38,504|
||**Restricted funds**|||||
||Reaching Communities|24,424||(24,424)|-|
||Primary Care Network|3,588||(3,588)|-|
||MEGS|2,951||(2,951)|-|
||Family Well Being|4,765||(4,765)|-|
||Mens Mental Health||881|(881)|-|
||Youth Innovation|3,000||(1,633)|1,367|
||Inclusive Communities|11,010||(11,010)|-|
||Warm Hub Food|2,250||(2,250)|-|
||RBC Step Ahead||-|10,058|10,058|
||RBC Wellbeing Group||-|584|584|
||Craft Group||-|138|138|
||Writing Group||-|670|670|
||Children In Need||-|5,526|5,526|
||CAB||-|45,000|45,000|
||Wellbeing at Work||-|11,739|11,739|
|||52,869||22,213|75,082|
||**TOTAL FUNDS**|85,579||28,007|113,586|
continued...
Page 12
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Christmas Fayre
**Restricted funds**
Reaching Communities
Primary Care Network
MEGS
Family Well Being
Mens Mental Health
Youth Innovation
Inclusive Communities
Warm Hub Food
RBC Step Ahead
RBC Wellbeing Group
Communitiy Garden
Defibrillator
Craft Group
Writing Group
Children In Need
CAB
Wellbeing at Work
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
131,366
2,224
133,590
-
15,202
-
84,497
19,890
-
-
(2,250)
15,870
8,566
700
668
3,500
3,000
14,160
45,000
18,750
227,553
361,143|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(125,626)
5,740
(2,170)
54
(127,796)
5,794
(24,424)
(24,424)
(18,790)
(3,588)
(2,951)
(2,951)
(89,262)
(4,765)
(20,771)
(881)
(1,633)
(1,633)
(11,010)
(11,010)
-
(2,250)
(5,812)
10,058
(7,982)
584
(700)
-
(668)
-
(3,362)
138
(2,330)
670
(8,634)
5,526
-
45,000
(7,011)
11,739
(205,340)
22,213
(333,136)
28,007|
|---|---|---|
continued...
Page 13
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Children in Need
Reaching Communities
Awards For All
Council Discetional Grant
Severn Trent
Primary Care Network
MEGS
Family Well Being
Mens Mental Health
Youth Innovation
Inclusive Communities
Warm Hub Food
**TOTAL FUNDS**|**Net**
**movement**
**At 1/4/23**
**in funds**
**£**
**£**
30,600
2,110
3,800
(3,800)
28,114
(3,690)
8,623
(8,623)
3,983
(3,983)
18,363
(18,363)
11,123
(7,535)
-
2,951
-
4,765
-
881
-
3,000
-
11,010
-
2,250
74,006
(21,137)
104,606
(19,027)|**At**
**31/3/24**
**£**
32,710
-
24,424
-
-
-
3,588
2,951
4,765
881
3,000
11,010
2,250
52,869
85,579|
|---|---|---|
continued...
Page 14
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Children in Need
Reaching Communities
Awards For All
Council Discetional Grant
Severn Trent
Primary Care Network
MEGS
Family Well Being
Mens Mental Health
Youth Innovation
Inclusive Communities
Warm Hub Food
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
250,368
-
-
-
1,188
-
-
2,951
4,765
881
3,000
11,010
2,250
26,045
276,413|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(248,258)
2,110
(3,800)
(3,800)
(3,690)
(3,690)
(8,623)
(8,623)
(5,171)
(3,983)
(18,363)
(18,363)
(7,535)
(7,535)
-
2,951
-
4,765
-
881
-
3,000
-
11,010
-
2,250
(47,182)
(21,137)
(295,440)
(19,027)|
|---|---|---|
continued...
Page 15
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||**Net**||
|---|---|---|---|
|||**movement**|**At**|
||**At 1/4/23**|**in funds**|**31/3/25**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|30,600|7,850|38,450|
|Christmas Fayre|-|54|54|
||30,600|7,904|38,504|
|**Restricted funds**||||
|Children in Need|3,800|(3,800)|-|
|Reaching Communities|28,114|(28,114)|-|
|Awards For All|8,623|(8,623)|-|
|Council Discetional Grant|3,983|(3,983)|-|
|Severn Trent|18,363|(18,363)|-|
|Primary Care Network|11,123|(11,123)|-|
|Youth Innovation|-|1,367|1,367|
|RBC Step Ahead|-|10,058|10,058|
|RBC Wellbeing Group|-|584|584|
|Craft Group|-|138|138|
|Writing Group|-|670|670|
|Children In Need|-|5,526|5,526|
|CAB|-|45,000|45,000|
|Wellbeing at Work|-|11,739|11,739|
||74,006|1,076|75,082|
|**TOTAL FUNDS**|104,606|8,980|113,586|
continued...
Page 16
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Christmas Fayre
**Restricted funds**
Children in Need
Reaching Communities
Awards For All
Council Discetional Grant
Severn Trent
Primary Care Network
MEGS
Family Well Being
Mens Mental Health
Youth Innovation
Inclusive Communities
RBC Step Ahead
RBC Wellbeing Group
Communitiy Garden
Defibrillator
Craft Group
Writing Group
Children In Need
CAB
Wellbeing at Work
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
381,734
2,224
383,958
-
-
-
1,188
-
15,202
2,951
89,262
20,771
3,000
11,010
15,870
8,566
700
668
3,500
3,000
14,160
45,000
18,750
253,598
637,556|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(373,884)
7,850
(2,170)
54
(376,054)
7,904
(3,800)
(3,800)
(28,114)
(28,114)
(8,623)
(8,623)
(5,171)
(3,983)
(18,363)
(18,363)
(26,325)
(11,123)
(2,951)
-
(89,262)
-
(20,771)
-
(1,633)
1,367
(11,010)
-
(5,812)
10,058
(7,982)
584
(700)
-
(668)
-
(3,362)
138
(2,330)
670
(8,634)
5,526
-
45,000
(7,011)
11,739
(252,522)
1,076
(628,576)
8,980|
|---|---|---|
continued...
Page 17
**THE OLD NEEDLE WORKS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2025**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2025.
Page 18
**THE OLD NEEDLE WORKS FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
**Other trading activities**
Cafe income
**Investment income**
Rents received
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Purchases
**Support costs**
**Management**
Wages
Pensions
Rent
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Professional fees
**Finance**
Sundries
Depreciation of tangible fixed assets
**Information technology**
Repairs and renewals|**2025**
**£**
249,435
9,179
102,019
510
102,529
361,143
147,059
78,565
2,451
51,490
3,671
26,274
1,466
1,505
-
668
166,090
4,067
368
4,435
13,151|**2024**
**£**
179,855
14,050
81,788
720
82,508
276,413
178,078
41,657
1,499
40,518
3,312
10,204
933
1,489
842
1,369
101,823
1,780
169
1,949
11,286|
|---|---|---|
This page does not form part of the statutory financial statements
Page 19
**THE OLD NEEDLE WORKS FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2025**
|**Information technology**
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income/(expenditure)**|**2025**
**£**
2,401
333,136
28,007|**2024**
**£**
2,304
295,440
(19,027)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 20