JANE ASCROFT ACCOUNTANCY LIMITED Chartered accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XT westpark L8vy TrSt Charity Registratton Number.. 1186861 Annual Report Financial Statements for the year ending 31stJanuary 2024
Westpark Levy Trust
Financial Statements
Year Ended 31 January 2024
| Page | |
|---|---|
| Trustees' Annual Report | 1 |
| Independent Examiner's Report to the Trustees | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 |
| The Following Pages Do Not Form Part of the Financial Statements | |
| Detailed Statement of Financial Activities | 15 |
Westpark Levy Trust
Trustees' Annual Report
Year Ended 31 January 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 January 2024.
Objectives and Activities
To promote for the benefit of the inhabitants of Darlington and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
We aim to do this by Caring for the environment increasing biodiversity of our community. Sharing great green space with the community by maintaining Green Flag Award status and Daring to try new initiatives, community engagement and delivers an arts and events strategy.
The Trust will deliver utilising the West Park Levy and external funding streams
The objectives of the WestPark Levy
To support the provision of non-statutory environmental improvements, including but not limited to landscaping, enhanced maintenance, interpretation and management facilities, community and voluntary projects and education and arts initiatives in the West Park Locality and surrounding areas.
Achievements and Performance
The WestPark Levy Trust began the year reviewing community feedback which alongside the previous year's community meetings gave us a focus of delivering on enhancements and improvements. These this year were around strengthening Community Safety by funding two CCTV columns at the play park and Nickstream lane entrances. Renewing and strengthening fencing and making further improvements to the Play area to enable young children to enjoy the space.
The Trust continued to make grants and payment in accordance with its statutory and regulatory requirements and make plans and commitments in-line with the enhancements and improvements detailed in the landscape management plan.
The Trustees continue to have a focus on providing a high-quality green space to the community, so again this year we sought review through the Green Flag Award accreditation process. This is an internationally recognised benchmark for quality of green space governance, awarded on behalf of the UK Government's Department for Levelling Up, Housing & Communities. The Trustees are delighted that this accreditation was achieved for another consecutive year. Feedback from judges included "This is an excellent community country park and shows the way forward for integrated high quality urban living." and "There is very good community involvement"
The majority of the work took take place in 2023 with it ending with the lighting of the first West Park community Christmas tree.
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Westpark Levy Trust
Trustees' Annual Report (continued)
Year Ended 31 January 2024
This year has also seen the Trust continue to deliver in-person community engagement. In-person meetings continued with the Friends of WestPark held locally in West Park Academy. This increased in person community engagement, the installation and use of the Leaf noticeboards alongside social media and increased information being available on our website, we have seen over the past year the community coming together. Alongside this consolidation in Phase one it has been exciting to meet the new neighbours in phase two and we welcome them to the community and look forward to working with residents and developers to build community spirit and develop the great local green space when available.
The Trustees listened to the community's desire to bring back community events and for 2024 we have Commissioned Stellar Creates a Tees Valley based production company to support the Trusts delivery of events.
Trustees realised there would be a greater number of people who could attend our events than previously delivered with the increased number of houses and consideration has been made to cater for a wide variety of tastes and needs of both mature adults and those with young families.
The Trust continuously looks to the future while focussing on the present. This allowed us to support West Park Academy This allowed us to support West Park Academy's Eco-Warrior environmental group with additional litter picking equipment for them to use both within school grounds but importantly when they do their whole school community litter picks. The other exciting project we undertook was a topographical survey of the strategic green space so we can use the latest data of the park to best plan future major enhancements and improvements.
Financial Review
Income during the period totalled £92,485 (2023 - £72,314) and expenditure totalled £104,195 (2023 - £33,084) giving a deficit of £11,710 (2023 - surplus of £39,230). At 31st January 2024 total funds held were £132,173.
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Westpark Levy Trust
Trustees' Annual Report (continued)
Year Ended 31 January 2024
Plans for Future Periods
The Trust continues to look increase the number of Trustees this coming year, we are still committed to further expanding the Board of Trustees to better represent the diversity and expand our in-house knowledge within the charity and best represent the community of West Park and Darlington. We would welcome expressions of interest from members of the community who would like to volunteer with us in either a trustee capacity or other volunteering role.
The Trust plan to continue the face-to-face Friends of WestPark meetings at West Park Academy school hall to support face to face community engagement; feedback and comment helps us develop our plans and guides our decisions to achieve the widest community benefit.
The Trust has funded several enhancement and improvement projects this year including the Green Flag Award, CCTV cameras, wildflowers planting, park drone survey, and work was completed to the paths, fencing and play area. Going forward, The Trust will continue to spend the income obtained by the West Park Levy and external funding in line with our aims, to allow us to care for the environment through increasing the quality of the local green space, We look forward to increasing our events programme as as we move towards the parks 20th Anniversary in 2025 and continue to be daring in the grants and projects we allocate grants to alongside delivering projects for further enhancements and improvements. The Trust would once again like to actively encourage the people to come forward with any ideas they would like to see within the community – there is always an opportunity to invest in our community.
We received external feedback on the Trust's performance relating to its green-space focus, we will aim to achieve and improve our score within the Green Flag Award accreditation framework. The Trustees are looking forward to working with Stellar Creates to support the Trust in the delivery of our future events to allow the community to come together. The Trustees will continue to consider the opportunities to build a community facility and engage with stakeholders as the West Park Garden Village continues to be developed and the community continues to grow.
Structure, Governance and Management
The charity was registered on 10th December 2019 with registration number 1186861.
The Trust has retained the three new Trustees and hope to continue to expand the range of skills and experiences through further increasing the number of Trustees to greater represent the community, with deliberate action having been taken to invite applications from all Levy payers. Training will be delivered in-house using the Charity Commission guidance for Trustees and additional external support will be available to support anyone interested in becoming a trustee. In addition to statutory audit, the Trust continues to use external professional assessment of its green-space orientated governance processes via the Green Flag Award. In-line with practices for a healthy Board of Trustees and recognising that the Trustees have successfully increased the size of the Board resulting in better sustainability.
The current Chair, Treasurer and secretary intend to stay in role at the 2024 AGM.
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Westpark Levy Trust
Trustees' Annual Report (continued)
Year Ended 31 January 2024
Reference and Administrative Details
| Registered charity name | Westpark Levy Trust | |
|---|---|---|
| Charity registration number | 1186861 | |
| Principal office | C/o B H P Law | |
| Westgate house | ||
| Faverdale Industrial Estate | ||
| Darlington | ||
| DL3 0PZ | ||
| The Trustees | ||
| Neil Brimer | ||
| Robert George | ||
| Andrew Buckingham (Chair) | ||
| Anthony Cooper | ||
| Paul Black | ||
| William Neil Herbert | ||
| Martyn Hunter | ||
| Joseph Gardiner | (Appointed 22 March 2024) | |
| Gemma Gill | (Appointed 22 March 2024) | |
| Independent Examiner | Jane Ascroft FCA MA (Cantab) | |
| Enterprise House | ||
| Harmire Enterprise Park | ||
| Barnard Castle | ||
| County Durham | ||
| DL12 8XT |
The trustees' annual report was approved on 11 October 2024 and signed on behalf of the board of trustees by:
Neil Brimer Trustee
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Westpark Levy Trust
Independent Examiner's Report to the Trustees of Westpark Levy Trust
Year Ended 31 January 2024
I report to the trustees on my examination of the financial statements of Westpark Levy Trust ('the charity') for the year ended 31 January 2024.
Responsibilities and Basis of Report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material 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 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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 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.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XT
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Westpark Levy Trust
Statement of Financial Activities
Year Ended 31 January 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 92,485 | 92,485 | 72,314 |
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| Total income | 92,485 | 92,485 | 72,314 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 104,195 | 104,195 | 33,084 |
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| Total expenditure | 104,195 | 104,195 | 33,084 | |
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||
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| Net (expenditure)/income and net movement in funds | (11,710) | (11,710) | 39,230 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 143,883 | 143,883 | 104,653 | |
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| Total funds carried forward | 132,173 | 132,173 | 143,883 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
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Westpark Levy Trust
Statement of Financial Position
31 January 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current Assets | |||
| Debtors | 11 | 110,050 | 11,201 |
| Cash at bank and in hand | 41,537 | 135,251 | |
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||
| 151,587 | 146,452 | ||
| Creditors: amounts falling due within one year | 12 | 19,414 | 2,569 |
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||
| Net Current Assets | 132,173 | 143,883 | |
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| Total Assets Less Current Liabilities | 132,173 | 143,883 | |
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| Net Assets | 132,173 | 143,883 | |
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| Funds of the Charity | |||
| Unrestricted funds | 132,173 | 143,883 | |
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| Total charity funds | 13 | 132,173═════════ |
143,883═════════ |
These financial statements were approved by the board of trustees and authorised for issue on 11 October 2024, and are signed on behalf of the board by:
Martyn Hunter Trustee
The notes on pages 8 to 13 form part of these financial statements.
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Westpark Levy Trust
Notes to the Financial Statements
Year Ended 31 January 2024
1. General Information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is C/o B H P Law, Westgate House, Faverdale Industrial Estate, Darlington, DL3 0PZ.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Westpark Levy Trust
Notes to the Financial Statements (continued)
Year Ended 31 January 2024
3. Accounting Policies (continued)
Income (continued)
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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Westpark Levy Trust
Notes to the Financial Statements (continued)
Year Ended 31 January 2024
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The company 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 company 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.
4. Donations and Legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| West Park levy - Phase 1 | 78,432 | – | 78,432 |
| West Park levy - Phase 2 | 13,303 | – | 13,303 |
| Grants | |||
| Stronger Communities grant | 750 | – | 750 |
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| 92,485 | – | 92,485 | |
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Westpark Levy Trust
Notes to the Financial Statements (continued)
Year Ended 31 January 2024
4. Donations and Legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| West Park levy - Phase 1 | 62,944 | – | 62,944 |
| West Park levy - Phase 2 | – | – | – |
| Grants | |||
| Lets Create Jubilee | – | 9,370 | 9,370 |
| Stronger Communities grant | – | – | – |
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|
| 62,944 | 9,370 | 72,314 | |
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5. Expenditure on Charitable Activities by Fund Type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Costs of charitable activities | 91,543 | – | 91,543 |
| Support costs | 12,652 | – | 12,652 |
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|
| 104,195 | – | 104,195 | |
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|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Costs of charitable activities | 8,921 | 9,370 | 18,291 |
| Support costs | 14,793 | – | 14,793 |
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|
| 23,714 | 9,370 | 33,084 | |
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6. Expenditure on Charitable Activities by Activity Type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Costs of charitable activities | 91,543 | 12,652 |
104,195 | 33,084 | |
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| 7. | Analysis of Grants | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Grants to Institutions | |||||
| Payments to West Park Academy | – | 586 | |||
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| Total grants | – | 586 | |||
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Westpark Levy Trust
Notes to the Financial Statements (continued)
Year Ended 31 January 2024
8. Independent Examination Fees
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 540════ |
540════ |
9. Staff Costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
10. Trustee Remuneration and Expenses
Trustees received neither remuneration nor expenses during the current and previous period.
11. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Levy arrears | 6,795 | 7,352 |
| Funds held by Kingston Property Services | 103,255 | 3,849 |
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| 110,050 | 11,201 | |
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|
| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Trade creditors | – | 2,029 |
| Accruals | 540 | 540 |
| Levy paid in advance | 18,874 | – |
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|
| 19,414 | 2,569 | |
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12. Creditors: amounts falling due within one year
13. Analysis of Charitable Funds
Unrestricted funds
| At | ||||||
|---|---|---|---|---|---|---|
| At | 1 | February | 31 January 2 | |||
| 2023 | Income | Expenditure | 024 | |||
| £ | £ | £ | £ | |||
| General funds | 143,883 | 92,485 | (104,195) | 132,173 |
||
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| At | ||||||
| At | 1 | February | 31 January 20 | |||
| 2022 | Income | Expenditure | 23 | |||
| £ | £ | £ | £ | |||
| General funds | 104,653 | 62,944 | (23,714) | 143,883 |
||
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Westpark Levy Trust
Notes to the Financial Statements (continued)
Year Ended 31 January 2024
14. Analysis of Net Assets Between Funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 151,587 | 151,587 |
| Creditors less than 1 year | (19,414) | (19,414) |
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|
| Net assets | 132,173 | 132,173 |
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|
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | 146,452 | 146,452 |
| Creditors less than 1 year | (2,569) | (2,569) |
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|
| Net assets | 143,883 | 143,883 |
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Westpark Levy Trust
Management Information
Year Ended 31 January 2024
The Following Pages Do Not Form Part of the Financial Statements.
14
Westpark Levy Trust
Detailed Statement of Financial Activities
Year Ended 31 January 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| West Park levy - Phase 1 | 78,432 | 62,944 |
| West Park levy - Phase 2 | 13,303 | – |
| Lets Create Jubilee | – | 9,370 |
| Stronger Communities grant | 750 | – |
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|
| 92,485 | 72,314 | |
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|
| Total income | 92,485 | 72,314 |
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|
| Expenditure | ||
| Activities undertaken directly | ||
| Payments to Darlington Borough Council | 86,742 | 6,474 |
| Newsletter | 2,705 | 1,861 |
| Other costs | 2,096 | – |
| Let's Create Jubilee costs | – | 9,370 |
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|
| 91,543 | 17,705 | |
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|
| Grant funding activities | ||
| Defibrillator project | – | 586 |
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|
| Support costs | ||
| Accountancy fees | 540 | 444 |
| Legal fees | – | 720 |
| Website and domain | 152 | 168 |
| Kingston Property Services admin charge | 11,760 | 13,261 |
| Room hire | 200 | 200 |
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|
| 12,652 | 14,793 | |
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|
| Total expenditure | 104,195 | 33,084 |
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|
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|
| Net (expenditure)/income | (11,710) | 39,230 |
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