**Draft Financial Statements** **Charity registration number 1189664 (England and Wales)** ## **OPEN DOOR CHARITY** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024** **Draft Financial Statements OPEN DOOR CHARITY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|A Devitt| |---|---| ||D Hopkin| ||J S Latham| ||J Dobbie| ||S Shambrook| |**Charity number (England and Wales)**|1189664| |**Principal address**|Bloom Building| ||3 Abbey Close| ||Birkenhead| ||Wirral| ||Merseyside| ||CH41 5FQ| |**Auditor**|Xeinadin Audit Limited| ||First Floor, The Foundation| ||Herons Way| ||Chester Business Park| ||Chester| ||Cheshire| ||CH4 9GB| **Draft Financial Statements OPEN DOOR CHARITY** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 4| |Independent auditor's report|5 - 7| |Statement of financial activities|8| |Balance sheet|9| |Notes to the financial statements|11 - 24| **Draft Financial Statements OPEN DOOR CHARITY** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ The trustees present their annual report and financial statements for the year ended 31 October 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 CIO's governing document, the Charities Act 2011 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** _Public benefit_ The CIO's objectives are: • Supporting people to alleviate the stigma which perpetuates mental health problems. • Identifying best practice in tackling mental health issues, supporting users and identifying local and national services and disseminating information. • Providing service users with the capacity to be better equipped to deal with depression. • Raising public awareness of the issues affecting mental health sufferers. - Providing social facilities and events involving the local community. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ In 2023/24, we have continued to be one of the most dynamic and progressive independent charities, continuing to provide free, fast and effective mental health support to vulnerable young people across our project portfolio. We have delivered a range of evidenced-based support programmes that improve the wellbeing and mental health of young people and young adults, using innovation, arts and culture as catalysts for change. 98% of our members said they would recommend Open Door to a friend. Together, our members, mentors and staff have transformed cultures around mental health. The times when young people need support becomes moments of meaningful change. We have provided and incubated opportunities to connect with brilliant people, transformative tools and inspirational places. In 2024 we were announced as a winner of the prestigious GSK Impact Awards for our excellent work in health and wellbeing. Lisa Weaks, Senior Associate at The King’s Fund, said: _“Open Door Charity is a pioneering organisation using arts and music to engage young people and reduce the stigma of mental health. Its ability to see young people quickly and effectively without a long wait and by self-referral is excellent. The charity’s ethos of blending open access mental health support with creative activities is impressive, along with its ability to influence wider sector collaboration and the development of new services. It is a lynchpin in the local community.”_ A Bazaar member commented on their support, _“To tell the truth, words cannot describe just how valuable Open Door was for me. There has been nothing more beneficial or transformative within my lifetime, and I can certainly say that I’ll always hold an immense deal of appreciation and gratefulness for all of the team. The sheer number of individuals that have had their lives transformed by Bazaar is truly breath-taking, as is the case for all those involved in the future. I can say for sure that mine has been.”_ Our ground-breaking support offer, OOMOO has continued to thrive and has been recommissioned, securing the project’s long term future. OOMOO was born out of the need to reimagine the emotional wellbeing offer of Children Looked After on Wirral. This year we have a total of 261 members, with 30 new members in the year. The latest data made available by Wirral Council in July 2024 found that 449 young people were eligible for OOMOO. While not all previous members will still be eligible for OOMOO, this roughly represents 58.13% of eligible young people attending OOMOO. ## An OOMOO member commented on their experience: _"Coming to OOMOO has definitely had an impact on me outside of here. Just, better mental health in general. Because it’s encouraged me more to just talk about it without even second-guessing it. Because before I came, I literally just didn’t want to speak to you about it at all. I think I am talking more freely now, and not feeling bad about it”._ - 1 - **Draft Financial Statements OPEN DOOR CHARITY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ Our home at Bloom Building has seen 7868 visitors across a total of 390 events last year, including weddings, art workshops, team away days and gigs. Bloom Building continues to be a lynchpin in the heart of our community, engaging thousands each year. In 2023 we were awarded our largest commissioned project to date, Branch, with the brief to create a transformational central point of access for Wirral which is designed to reduce or remove the bottlenecking at Wirral CAMHS which often leads to multiyear waits for young people to access support. Branch was developed over 18 months and launched late 24. This Spring Wirral CAMHS will switch off its traditional access and direct all enquiries through Branch, creating the opportunity to drive a much greater positive impact for all young people’s access to statutory and a great deal of third sector mental health services in Wirral. Joy, our £4.2 million capital project to create the UKs most radical and progressive mental health, wellness and creativity space, has continued to develop. We now own our own building, which has not been possible over the last 14 years. We managed to secure an additional £250k in capital funds for the project, recruited Joy’s Project Director to lead on developments, strengthened tenancy relationships and developed plans to give us the best chance of achieving our ambitious vision. A key part of the vision remains to positively disrupt support experiences for young people’s mental health and use our creative approach, environments and unique organisational personality to allow the NHS to speak a different language with the public around young people’s mental health. Joy will also house several of Wirral CAMHS key services, cultivating the environment and experience for their visitors in our image. ## **Financial review** As at 31 October 2024, the CIO had total funds of £601,926 (2023: £252,826), of which £15,000 (2023: £11,949) were restricted. The remaining £586,926 (2023: £240,877) were unrestricted. Within the unrestricted funds, £364,372 (2023: £25,072) related to fixed assets — these are not liquid and can only be accessed through the sale of the underlying assets. After accounting for these, the CIO's free reserves — that is, unrestricted funds readily available for general use — stood at £90,799 as at 31 October 2024 (2023: £161,829). ## _Reserves policy_ It is the policy of the CIO that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the CIO’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## _Major risks_ The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. - 2 - **Draft Financial Statements OPEN DOOR CHARITY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **Plans for future periods** ## Joy Joy will become our new home in early 2026, evolving from the Bloom Building but on a much larger scale. While the vision isn't entirely new, Joy overcomes many challenges Bloom faced—offering better parking, transport links, visibility, and progressive partnerships, including with the NHS. Joy presents a bold model for transforming mental health support through vibrant, collaborative spaces. It will demonstrate how the NHS can connect with the public in new ways. After 18 months of operation, Joy will thrive as a network of tenants, partners, and allies, with long-term growth into the full site as a key goal. ## Growing our impact We’re a recognised leader in Wirral’s mental health system. Joy will enhance its visibility and visitor experience. We’re launching a targeted public engagement strategy, moving from passive to proactive outreach. Data and realtime learning will drive development. The Branch project will build on our legacy with large-scale impact, while academic partnerships expand our national reach. In three years, we aim to support thousands of young people in Wirral and across the UK. ## Fundraising It is our strategic priority to diversify our income from our heavy reliance on grants to ensure the sustainability of Open Door, as we move into key strategic ambitions in 2024/25. The next phase is to grow trading income and charitable giving. Joy will support this through bar sales, venue hires, and tenancy opportunities. Academic partnerships will generate income by licensing our tools, promoting visible mental health allyship. We’ve rebuilt our fundraising arm with a strategic, realistic approach and we look to grow this team even further in 24/25. ## **Structure, governance and management** The charity is a Charitable Incorporated Organisation (CIO), which was registered with the Charity Commission on 27th May 2020. The CIO was previously an unincorporated association, charity number 1151421, which was set up under a constitution dated 21st November 2011 and registered with the Charity Commission at that time. The assets and liabilities of the unincorporated association transferred to the CIO on 1st November 2020. The trustees who served during the year and up to the date of signature of the financial statements were: A Devitt D Hopkin P Murray (Resigned 15 January 2024) J S Latham J Dobbie S Shambrook F J Shephard (Resigned 15 October 2024) J Chalk (Resigned 9 January 2024) ## _Recruitment and appointment of trustees_ Trustees are appointed to the board by resolution of trustees of the board. There must be not less than three trustees. The trustees who served during the year, together with any changes up to the date of approving this report are listed above. Trustees retire in rotation at each general meeting and are limited to a term of three years. ## _Organisational structure_ The board of trustees administers the charity and meets as necessary but not less that four times a year. The dayto-day operations of the charity are the responsibility of the Chief Executive, to whom the board of trustees have delegated authority for operational matters including finance, employment and development. - 3 - **Draft Financial Statements OPEN DOOR CHARITY** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **Statement of trustees' responsibilities** The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and application of resources of the CIO for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees' report was approved by the Board of Trustees. .............................. A Devitt **Trustee** Date: ............................................. - 4 - **Draft Financial Statements OPEN DOOR CHARITY** ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF OPEN DOOR CHARITY** ## **Opinion** We have audited the financial statements of Open Door Charity (the ‘CIO’) for the year ended 31 October 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charity’s affairs as at 31 October 2024 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the CIO in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the CIO’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees' report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. - 5 - **Draft Financial Statements OPEN DOOR CHARITY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OPEN DOOR CHARITY** ## **Responsibilities of trustees** As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the CIO’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - Enquiry of management and those charged with governance around actual and potential litigation and claims; - Reviewing minutes of meetings of those charged with governance; - Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; - Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the CIO is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the CIO is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the CIO's license to operate. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. - 6 - **Draft Financial Statements OPEN DOOR CHARITY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OPEN DOOR CHARITY** A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Other matters** The comparative figures for the year ended 31 October 2023 are unaudited and have been included for comparative purposes only. Accordingly, we do not express an opinion on these comparative amounts. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## **Stephanie Baker BA(Hons) ACA (Senior Statutory Auditor)** For and on behalf of Xeinadin Audit Limited, Statutory Auditor Chartered Accountants First Floor, The Foundation Herons Way Chester Business Park Chester Cheshire CH4 9GB Date: ......................... Xeinadin Audit Limited is eligible for appointment as auditor of the CIO by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. - 7 - **Draft Financial Statements OPEN DOOR CHARITY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**4**
196,124
44,190
Charitable activities
**5**
72,022
1,068,738
**Total income**
268,146
1,112,928
**Expenditure on:**
Charitable activities
**6**
272,237
759,737
**Total expenditure**
272,237
759,737
**Net income/(expenditure)**
(4,091)
353,191
Transfers between
funds
350,140
(350,140)
**Net movement in**
**funds**
**3**
346,049
3,051
**Reconciliation of funds:**
Fund balances at 1 November
2023
240,877
11,949
**Fund balances at 31 October**
**2024**
586,926
15,000|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
240,314
29,685
-
1,140,760
415,308
352,917
1,381,074
444,993
352,917
1,031,974
498,465
382,072
1,031,974
498,465
382,072
349,100
(53,472)
(29,155)
-
15,600
(15,600)
349,100
(37,872)
(44,755)
252,826
278,749
56,704
601,926
240,877
11,949|**Total**
**2023**
**£**
29,685
768,225
797,910
880,537
880,537
(82,627)
-
(82,627)
335,453
252,826| |---|---|---| 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 and income account under the Companies Act 2006. - 8 - **Draft Financial Statements OPEN DOOR CHARITY** ## **BALANCE SHEET** ## _**AS AT 31 OCTOBER 2024**_ |**2024**
**Notes**
**£**
**£**
**Fixed assets**
Intangible assets
**11**
10,475
Tangible assets
**12**
353,897
364,372
**Current assets**
Stocks
**13**
2,476
Debtors
**14**
93,176
Cash at bank and in hand
374,381
470,033
**Creditors: amounts falling due within**
**one year**
**15**
(105,428)
**Net current assets**
364,605
**Total assets less current liabilities**
728,977
**Creditors: amounts falling due after**
**more than one year**
**16**
(127,051)
**Net assets**
601,926
**The funds of the CIO**
Restricted income funds
**19**
15,000
Unrestricted funds
**20**
586,926
601,926|**2023**
**£**
3,608
55,933
222,188
281,729
(18,975)|**£**
10,254
14,818
25,072
262,754
287,826
(35,000)
252,826
11,949
240,877
252,826| |---|---|---| The financial statements were approved by the trustees on ......................... .............................. A Devitt **Trustee** - 9 - **Draft Financial Statements OPEN DOOR CHARITY** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**2024**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash generated from/(absorbed by)
operations
**25**
509,633
**Investing activities**
Purchase of intangible assets
(7,300)
Purchase of tangible fixed assets
(350,140)
**Net cash used in investing activities**
(357,440)
**Net increase/(decrease) in cash and cash**
**equivalents**
152,193
Cash and cash equivalents at beginning of year
222,188
**Cash and cash equivalents at end of year**
374,381|**2023**
**£**
**£**
(145,537)
(6,000)
-
(6,000)
(151,537)
373,725
222,188| |---|---| - 10 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **1 Accounting policies** ## **Charity information** Open Door Charity is a is a charitable incorporated organisation (CIO) registered with the charity commission in England and Wales. The principal office is Bloom Building, 3 Abbey Close, Birkenhead, Wirral, Merseyside, CH41 5FQ. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the CIO's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". The CIO is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to 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 to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the CIO 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 CIO 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. ## **Grants** Income from charitable activities includes income recognised as earned (as the related service is provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding to support programme activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred in respect of cash received relating to future expenditure. - 11 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 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 other than goodwill** Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation 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: Website 25% straight line ## **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: Leasehold land and buildings 20% straight line and over the life of the lease Plant and equipment 20% straight line Computers 33% straight line 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 CIO 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 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. - 12 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **1 Accounting policies** **(Continued)** Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.10 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. ## **1.11 Financial instruments** The CIO 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 CIO's balance sheet when the CIO 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 CIO’s contractual obligations expire or are discharged or cancelled. ## **1.12 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the CIO is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.13 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. - 13 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **2 Critical accounting estimates and judgements** In the application of the CIO’s accounting policies, the trustees are required to make judgements, estimates and assumptions about 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 other 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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |**3**|**Net movement in funds**|**2024**|**2023**| |---|---|---|---| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Fees payable for the audit of the charity's financial statements|7,800|-| ||Depreciation of owned tangible fixed assets|4,635|19,520| ||Amortisation of intangible assets|7,079|6,710| ## **4 Income from donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
118,624
6,000
Grants
77,500
38,190
196,124
44,190|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
124,624
26,685
-
115,690
3,000
-
240,314
29,685
-|**Total**
**2023**
**£**
26,685
3,000| |---|---|---| |||29,685| ## **5 Income from charitable activities** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**Charitable activities**
Venue and bar income
65,987
-
Services provided under
contract
-
-
Performance related
grants
4,981
1,068,738
Charitable rental income
-
-
Other income
1,054
-
72,022
1,068,738|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
65,987
71,076
-
-
5,450
750
1,073,719
338,432
352,167
-
350
-
1,054
-
-
1,140,760
415,308
352,917|**Total**
**2023**
**£**
71,076
6,200
690,599
350
-| |---|---|---| |||768,225| - 14 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **5 Income from charitable activities** ## **(Continued)** Included within performance related grants are grants received from local authorities which are recognised in the period when the CIO receives such funds. Income totalled £439,813 (2023: £85,302) in the year. At the year end £nil (2023: £nil) of such funds had not been spent and form part of the restricted funds balance. ## **6 Expenditure on charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**activities**|**activities**| ||**2024**|**2023**| ||**£**|**£**| |**Direct costs**||| |Staff costs|660,677|478,016| |Sessional fees|13,330|6,078| |Project delivery|127,230|114,251| |Travel, subsistence and hospitality|5,573|7,925| |Promotion|19,394|33,643| |Premises|70,984|69,905| |Café and venue cost of sales|34,401|37,930| |Office costs|23,687|20,556| |Repairs and maintenance|9,788|(3,335)| |Professional fees|27,900|56,161| |Bank and card|1,848|2,329| ||994,812|823,459| |**Share of support and governance costs (see note 7)**||| |Support|11,714|26,230| |Governance|25,448|30,848| ||1,031,974|880,537| |**Analysis by fund**||| |Unrestricted funds|272,237|498,465| |Restricted funds|759,737|382,072| ||1,031,974|880,537| - **7 Support costs allocated to activities** ||**Charitable**|**Total**| |---|---|---| ||**activities**|| ||**2024**|**2023**| ||**£**|**£**| |Depreciation|11,714|26,252| |Governance|25,448|30,825| - 15 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**7**
**Support costs allocated to activities**
**Governance costs comprise:**
Audit fees
Accountancy
Independent examination|**(Continued)**
**2024**
**2023**
**£**
**£**
7,800
-
17,648
28,687
-
2,138
25,448
30,825|**(Continued)**
**2024**
**2023**
**£**
**£**
7,800
-
17,648
28,687
-
2,138
25,448
30,825| |---|---|---| |||30,825| ## **8 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the CIO during the year. ## **9 Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**Number**
19
**2024**
**£**
593,985
55,279
11,413
660,677|**2023**
**Number**
15| |---|---|---| |||**2023**
**£**
433,205
37,559
7,252| |||478,016| |The number of employees whose annual remuneration was more than £60,000||| |---|---|---| |is as follows:||| ||**2024**|**2023**| ||**Number**|**Number**| |£80,001 to £90,000|1|1| ## **Remuneration of key management personnel** The aggregate compensation of key management personnel in the year was £177,651(2023: 83,691) ## **10 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 16 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **11 Intangible fixed assets** |**Cost**
At 1 November 2023
Additions - separately acquired
At 31 October 2024
**Amortisation and impairment**
At 1 November 2023
Amortisation charged for the year
At 31 October 2024
**Carrying amount**
At 31 October 2024
At 31 October 2023|**Website**
**£**
26,840
7,300| |---|---| ||34,140| ||16,586
7,079| ||23,665| ||10,475| ||10,254| ## **12 Tangible fixed assets** |**Leasehold**
**land and**
**buildings**
**Plant and**
**equipment**
**Computers**
**£**
**£**
**£**
**Cost**
At 1 November 2023
62,821
6,491
17,995
Additions
350,140
-
-
Disposals
(609)
-
-
At 31 October 2024
412,352
6,491
17,995
**Depreciation and impairment**
At 1 November 2023
48,003
6,491
17,995
Depreciation charged in the year
4,635
-
-
Eliminated in respect of disposals
(609)
-
-
Other changes
6,426
-
-
At 31 October 2024
58,455
6,491
17,995
**Carrying amount**
At 31 October 2024
353,897
-
-
At 31 October 2023
14,818
-
-|**Total**
**£**
87,307
350,140
(609)| |---|---| ||436,838| ||72,489
4,635
(609)
6,426| ||82,941| ||353,897| ||14,818| - 17 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**13**
**Stocks**
Consumables
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**15**
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**17**
Trade creditors
Other creditors
Accruals|**2024**
**£**
2,476
**2024**
**£**
73,421
19,755
93,176
**2024**
**£**
45,193
43,336
5,546
11,353
105,428|**2023**
**£**
3,608| |---|---|---| |||**2023**
**£**
38,626
17,307| |||55,933| |||**2023**
**£**
4,475
8,920
984
4,596| |||18,975| During the year, an employee undertook private consultancy work for Wirral NHS Foundation Trust in a personal capacity. Payments for this consultancy work were made directly to the CIO's bank account and have been recorded as a liability to the employee within other creditors. The consultancy work was not connected to the charity’s activities. The amounts owed to the trustee as at 31 October 2024 was £750 (2023: £nil). ## **16 Creditors: amounts falling due after more than one year** |**16**
**Creditors: amounts falling due after more than one year**||| |---|---|---| |Other creditors
**17**
**Deferred income**
Other deferred income|**2024**
**£**
127,051
**2024**
**£**
45,193|**2023**
**£**
35,000| |||**2023**
**£**
4,475| Deferred income is included in the financial statements as follows: - 18 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **17 Deferred income** |**Deferred income**
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 November 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 October 2024|**(Continued)**
**2024**
**2023**
**£**
**£**
45,193
4,475
4,475
51,378
(4,475)
(51,378)
45,193
4,475
45,193
4,475|**(Continued)**
**2024**
**2023**
**£**
**£**
45,193
4,475
4,475
51,378
(4,475)
(51,378)
45,193
4,475
45,193
4,475| |---|---|---| |||51,378
(51,378)
4,475| |||4,475| Deferred income is in relation to venue hire income recognise in advance, this has been deferred as income is recognised on event date. Additionally, there is contract income received in advance of the period it relates to. |**18**|**Retirement benefit schemes**||| |---|---|---|---| |||**2024**|**2023**| ||**Defined contribution schemes**|**£**|**£**| ||Charge to profit or loss in respect of defined contribution schemes|11,413|7,252| The CIO operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the CIO in an independently administered fund. ## **19 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At 1**
**November**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
Joy
-
359,940
(9,800)
Bloom Building
-
78,267
(78,267)
Bazaar
11,949
242,891
(254,840)
OOMOO
-
213,752
(198,752)
Projects
-
73,098
(73,098)
Branch
-
144,980
(144,980)
11,949
1,112,928
(759,737)|**Transfers At 31 October**
**2024**
**£**
**£**
(350,140)
-
-
-
-
-
-
15,000
-
-
-
-
(350,140)
15,000|**Transfers At 31 October**
**2024**
**£**
**£**
(350,140)
-
-
-
-
-
-
15,000
-
-
-
-
(350,140)
15,000| |---|---|---| |||15,000| - 19 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**19**|**Restricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year:**|**At 1**|**Incoming**|**Resources**|**Transfers **|**At 31 October**| |||**November**|**resources**|**expended**||**2023**| |||**2022**||||| |||**£**|**£**|**£**|**£**|**£**| ||NHS England|30,000|-|(14,400)|(15,600)|-| ||Wirral MBC - CVF LGBTQ|7,500|10,000|(17,500)|-|-| ||Global Make Some Noise|19,204|20,750|(39,954)|-|-| ||We Are Juno|-|11,981|(11,981)|-|-| ||Cradle to Career|-|1,313|(1,313)|-|-| ||One Wirral CIC - Digital|||||| ||Inclusion|-|2,564|(2,564)|-|-| ||Growth Platform|-|7,000|(7,000)|-|-| ||HAF|-|4,405|(4,405)|-|-| ||Talking Through the Music|-|23,749|(11,800)|-|11,949| ||Anne Duchess of Westminster's|||||| ||Fund|-|10,000|(10,000)|-|-| ||Masonic|-|20,000|(20,000)|-|-| ||Reaching communities|-|140,367|(140,367)|-|-| ||Segleman|-|30,000|(30,000)|-|-| ||Steve Morgan Foundation|-|21,288|(21,288)|-|-| ||Bazaar - Core Projects|-|49,500|(49,500)|-|-| |||56,704|352,917|(382,072)|(15,600)|11,949| - 20 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **19 Restricted funds** ## **(Continued)** ## **For the year end 31 October 2024:** - Joy: our capital development project a future home of Open Door. Joy will bring together the third sector, statutory tenants, culture, community all under one roof - Bloom: The charity’s home. A space that immerses mental health with aesthetically purposeful design and culture to destigmatise mental health support. Bloom also provides events and activities to ODC core members and wider community members - Bazaar: Provides free, fast and effective mental health support to young people aged 14-35. - OOMOO: A project that supports the emotional wellbeing and mental health of care-experienced young people aged 10-25 - Pilot projects: Innovative incubation projects that have been created based on community need - Branch: A trailblazing model that centralises children and young people’s mental health support referrals ## **Transfer of funds:** The transfer of funds relates to costs incurred in the acquisition of the JOY property, which has been capitalised within the financial year. ## **For the year end 31 October 2023:** - NHS England - contribution towards the Haze Wirral Short Break project. - Wirral Council, CVF - contribution towards the Connectivity Thought Culture project to support families facing the challenges associated with poor mental health. - Global Make Some Noise - funding of the Colours project to empower and support families facing the challenges associated with poor mental health. - We are Juno - to offer support to the Juno Young Leaders group. This is a group of care-experienced young people from LCR making sure Juno are achieving the best for young people in their care. - Cradle to Career - supporting families in North Birkenhead with wrap-around holistic support. - One Wirral CIC - Digital inclusion - supporting individuals who face digital exclusion, including barriers to accessing the internet and IT equipment. - Growth Platform - to support the consultancy stage for our project Joy, the future home for Open Door, NHS services and other third sector organisations. - HAF - to provide food allowance support during the summer holiday provisions. - Talking through the music - to develop a new in-depth music programme presenting young adults with the opportunity to write, record, perform, and contribute to the creation of a unique album. - Anne Duchess of Westminster - contributes to the delivery of community programming within Bloom, through contribution to the Bloom Lead salary - Masons - to support the development of OOMOO our programme for CLA (Children Looked After) through Move, Make and Be sessions and specific peer led support. - Reaching Communities - to provide free and immediate mental health and wellbeing support as early intervention for people aged 13-35 in Merseyside alongside Utopia Project, bringing together a community of volunteers to up-skill and share best practice. - 21 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ ## **19 Restricted funds** ## **(Continued)** - Segelman - to support the development of OOMOO our programme for CLA (Children Looked After) through Move, Make and Be sessions and specific peer led support. - Steve Morgan Foundation - contribution towards Charity manager salary. - Bazaar - Core - Bazaar is our core support offer for those aged 14-35 experiencing low mood and anxiety. Bazaar blends elements of CBT, Mindfulness and more to help young people understand their mind alongside the support of a peer mentor. ## **Transfer of funds:** In the year, £15,600 of restricted funds were transferred to unrestricted funds, this was because all objectives set by the NHS England Haze project had been met. ## **20 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**|**Incoming**|**Resources**|**Transfers At**|**31 October**| |---|---|---|---|---|---| ||**November**|**resources**|**expended**||**2024**| ||**2023**||||| ||**£**|**£**|**£**|**£**|**£**| |General funds|240,877|268,146|(272,237)|350,140|586,926| |**Previous year:**|**At 1**|**Incoming**|**Resources**|**Transfers At**|**31 October**| ||**November**|**resources**|**expended**||**2023**| ||**2022**||||| ||**£**|**£**|**£**|**£**|**£**| |General funds|278,749|444,993|(498,465)|15,600|240,877| |**Analysis of net assets between**|**funds**||||| ||||**Unrestricted**|**Restricted**|**Total**| ||||**funds**|**funds**|| ||||**2024**|**2024**|**2024**| ||||**£**|**£**|**£**| |**At 31 October 2024:**|||||| |Intangible fixed assets|||10,475|-|10,475| |Tangible assets|||353,897|-|353,897| |Current assets/(liabilities)|||349,605|15,000|364,605| |Long term liabilities|||(127,051)|-|(127,051)| ||||586,926|15,000|601,926| ## **21 Analysis of net assets between funds** - 22 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**21**|**Analysis of net assets between funds**|||**(Continued)**| |---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|| |||**2023**|**2023**|**2023**| |||**£**|**£**|**£**| ||**At 31 October 2023:**|||| ||Intangible fixed assets|10,254|-|10,254| ||Tangible assets|14,818|-|14,818| ||Current assets/(liabilities)|250,805|11,949|262,754| ||Long term liabilities|(35,000)|-|(35,000)| |||240,877|11,949|252,826| ## **22 Operating lease commitments** ## **Lessee** The operating leases represent leases from third parties. The leases are negotiated over terms of 3 to 8 years. At the reporting end date the CIO had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: |Within one year
Between two and five years|**2024**
**£**
19,200
18,700
37,900|**2023**
**£**
18,000
9,000| |---|---|---| |||27,000| |**23**|**Capital commitments**||| |---|---|---|---| |||**2024**|**2023**| |||**£**|**£**| ||Acquisition of property, plant and equipment|3,850,000|-| The CIO has approved the development of a new capital project to create the UKs most radical and progressive mental health, wellness and creativity space. The total estimated cost of the project is approximately £4.2 million. As at the year end, £350,140 had been incurred on the purchase of a building, which has been capitalised as leasehold land and buildings. ## **24 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 23 - **Draft Financial Statements OPEN DOOR CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2024**_ |**25**
**Cash generated from/(absorbed by) operations**
Surplus/(deficit) for the year
**Adjustments for:**
Amortisation and impairment of intangible assets
Depreciation and impairment of tangible fixed assets
Other changes to tangible fixed assets
**Movements in working capital:**
Decrease in stocks
(Increase) in debtors
Increase/(decrease) in creditors
(Decrease)/increase in provisions
Increase/(decrease) in deferred income
**Cash generated from/(absorbed by) operations**|**2024**
**2023**
**£**
**£**
349,100
(82,627)
7,079
6,710
4,635
19,542
6,426
-
1,132
672
(37,243)
(24,426)
137,786
(8,505)
-
(10,000)
40,718
(46,903)
509,633
(145,537)| |---|---| - 24 -