Cl￿rIty rogistra￿on numbèr 1195511 Company ragistrdtion number 05699019 {England and Wales) WINNER TRADING LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 WINNER TRADING LIMITED LEGALAND ADMINISTRATIVE INFORMATION Truste88 M$ L M Hilder Ms T L Cooper MSA s￿Sworth IAppointed 10 July 20231 Charity number 1195511 Company number 05699019 R•gi¥tsred office 185 Praston Road East Yorkshir England HU9 5UY Auditor Fawley JLKlg8 & Easton Chartered Certified Accountants 1 Padiament st￿et Hull East Yorkshire HU1 2AS WINNER TRADING LIMITED CONTENTS Pag• Trustees, r8POrt Stat8rnent of tru3tsgs' ￿ponsibIl￿"•S Independent auditorfs report Statement ol finanual actiwties Balanca sheet statement of cash flow8 Notes to the finanry81 statements 10-18 WINNER TRADING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Th8 trustees present their annual raport and finanaal ststarnents for the year endad 31 M8r¢h 2024. The finanoal stat&m8nts have been prèpared in accordaneè with the arxounting polioes s8t out in note 1 to the financial stat8ment5 and comply with the charrty's artide5 of association, the Companies Act 2006 and "Accounting and Reporting by Chant18s.' Statement of Raeornmended Practice applicable to charities preparing their account5 in aWOrdan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffectiV8 1 January 20191. Objectlves and activities The charity's objects relate to thè provision of 3afe and supportad atxornmodation to women and ehildren èxpenencing domestie Violen￿ and abuse. The polici&s adopted in furtheran￿ of these objgcts are the charty's articles and there has been no change in th85& during this first year as a charity. publ￿ bgnefit The trustees have paid due regard to guidance issuad by Ihg Charity Commission in deciding what activthas thè chanty should undertake. Activities nner Trading Ltd Is run by wornen lor womèn and 81ms lo offer safe and supported accommodation to women and children experiencing dom85tic Violen￿ and abuse. Despite the challenging maero-eeonofflic clirnat8 the organisation has continued to develop rts servicss to raspond to increased d8rnand and need in the surroundino community. The organ158tion owns or manages a portfolio of 190 d15peis8d properties and wod(s closely with women and children 8ff8Cted by dornests"c Violen￿ and abuse every year, enabling them to cope with crisis and develop themselves positively. Below is a 3ynopsi5 of our key semeas which have been delivered this year and contributed to a¢h￿VIng our charrtats￿ objecty'ves". Safe dispersed accommodatyon Winner Trading Ltd has successfulty tnanag8d a dispersed accommodation Servi￿ Sin￿ 2008. All the properties in the porrfolio are Consistent￿ tananted_ our average void rates range from 0.5- 5% and most properties are vacated and ￿-￿t on the same day. have worked successfulty in partnership with the local authority and other local organisations to ensure that each property also benefits from target hardening mèasuras and is equipped with lifeline alamis as ne￿$sary to each tenant. We currently manage arouFKI 200 properties as part of the Hull Safe Vvornen's Hornes group and are seeking to increase this portfolio further in the next year through partnership with other agencies and social in￿StMant funds. In 2022 we also opened an additional ten purpose buitt on8 bedroome(J fiats for women without childrèn- th8 first of a long term progr8mme of new build, environmentslly friendly units designed around women's needs and to minimise the cost of utilitEs for residents. As part ol this development we used modern methods of constructson to speed up tha build time and optimise the th8Fmal efficiency ol the units. Tha provision ol these solution5 not only deliver3 safe accommodation for those in desperate need of it, the holistic wrap around services provided by Preston Road Vvomèn's (xntre, Whe￿ the organisation Is co-located, integistÉd with safe accornmodation delivers outstanding outcornes for those familie5 and significant r8turns on investment for the public pur3e. Figure5 b858d on Home offi￿ data, Cabinet Office and other Government Department publications and research dèrnonstrate that lor each £1 invested in p￿Vents"On of domestic Violen￿ and abuse. a retum of £7.12 can be 8chEved. WINNER TRADING LIMITED TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Voluntsèrs The work of all the Voluntee￿ wthin the company is greatly valued. Not ortly do our volunteers gwe of thair time and energy to support the organisation, they contribut8 actively to shaping our sèmces and co-pro¢Jucing services ak)ngside our tenants. Local women support local women to racover from crises and rabuild their Iw8s through the activit￿$ and som￿$ th8 ￿ntre provides. Aehtevements and perfomiance Signific8nt activitlgs and achievem8nts against obj8ch.ves Fundraising actiwties Fundraising aCtni￿e3 during the year induded incomé from.. Rental income from our dispersed awommodats'on - Property rnanagement charges from private landlords - ￿ntraCt income from the Local Authorty Flrtanclal r8Vi8W Rgsgrv85 poIIcy It is the policy of the charity that unrestricted funds which havè not been d8signated for a speafic use shouhy be maintained at a level equivalent to bebNeen three and six month's exponditure. The trustees consid&r that reserves at this level will ensure that, in the event of a significant drop sn fijnding, they will be able to continue the charity's CUTr&nt activities Whi￿ consideration is given to ways in which additional funds may bè raised. This18￿1 of reserve5 has been maintained throughout the year. The trustee5 have established a reservès policy whereby they wsh to seè the unrestrictsd funds not cornmitted or invested in tangibk fixed assets I'the free reserves'l held by the ch8rty to be at a ￿Ve1 to ensure the continuty ol the charty and this equates to approximately £60,000 in general funds. At this 5evel the trustees feel that they would be able to continue current athvities of the company in the event ol any significant drop in funding. Additr"onal rgs8rves may be applied to ￿ducIng our loan commitrnents as and when the Trustees deem prudent. Princffp81 funding sources Th8 principal fvndin9 sourcas for the oryani5ation during 2023124 ats." Incorne from dispersed a¢xornmod8ts"on Property management fees trom private landlords Income from Local AuthDrity contracts The trustees have assesS6d the major risks to which tha charity is exposed, and 8r& s8b"sfièd that systems are in p18ce to mits.gate exposure to th& major risks. WINNER TRADING LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans ftsrfUtu￿ pgriod8 Winner Trading Ltd ￿11 continue to seek opportunits'es to increase its portfolio of dispersed accommodation offgring safe accommodation to women and children fleeing vio￿n¢e and abuse. Work will continue in conjunction with Hull Wornen's Network Ltd to identify and recruit Suitab￿ prvate landlonts for whom the org8nis8tion can prowde a property management service, th8r&by increasing the portfolio without the concornitant capital outlay. Worf( will also continue to identify fvnds to construct new propertias. in particular kn meet th6 Idéntified needs for one.b&Yroomod flats for women without children and g8neral needs accommodats"on. will work with 8tstutory sector partners and charitable trusts to realise these aspirats"on5 SO that the organisation can continue to provkje its essen*'al seNe£s far into the fvture. Structur•, gov8rnan¢e and management The charity is a cornpany limited by guarants8. The trustees, who a￿ also the directors for the purpos& of cornpany law. and who seNed dunng Iha yèar and up to the date of signature of the finanual staternents were.. Ms L M Hildar Ms T L Coopar Ms LAdamson Ms A Sigsworth IResigned 31 August 20231 IAppointed 10 July 20231 R8Clilltrii8nt 8nd ?ppointnFent of Imsts8S Nong of the trustees has any bonefi￿al interest iri the company. All of thg trustse5 are members of the c4)mpany and guarantee to contribute £1 in the event of a wiThJing up. Auditor In accordance with the companys articles. a re501ution proposing that Fawley Judg6 & Easton be reappointed as auditor of the company will be put at a General Meeting. The truste8s' report was approvèd by the Board ol Trustees. Ms L M Hilder Trustee L HiJd6r 26 July 2024 WINNER TRADING LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also thg directors of Mfinner Trading Limited for the pu￿039 of company18w, are responsible for preparing the Trustees. Report and the finan￿al statements In accordan￿ with applicable law and Unrted Kinodom Accounting Standards (United Kingdom Generally A¢cept8d AcL4unting Prdcticel. Cornpany Law requires the trustÉès to preparè financial statèments for each financial ygar which give a true and fair view of the state of affairs ol the charity and of the incoming resour￿$ and application of resour￿$, induding the income and expenditu￿. of tho charitsble company for that year. In PT8p8ring these financial stat8ments, the trustees are required to.. - $61ect suitsbla aecDunb'ng policies and then apply them eonsistently". observe the methods and principl95 in the char￿85 SORP,. - m8kèjudgernents and estimatas that are reasonable and prudent., tstè whether applicable UK Accnunting Standards have been followed. subject to any material departures disdosed 8nd explained in the financial statements.. and p￿pare the financial statements on the going COn￿M basis unless f£ is inappropriats to presume that tho charity wi11 continue in operation. The trustees are responsible for keeping adequate accounting rec£Jrd8 that disclose with reasonable accuracy at any time the financial position of thè charty and enable them to ensure that the financial staternents comply with the Companies Act 2006. Tttey are also responsible for safeguarding thé assets of the charity and hen￿ for taking reasonable Stèps for the prevÈntion and detsction of fraud and other irregularibes. WINNER TRADING LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WINNER TRADING LIMITED Opinion We have audited the Iinancial statOrn8nts ol Winner Trading Limited ltt)e'charity'l for the year en¢Jed 31 March 2024 which comprise the statement ol financial activrties, the balanca 5he8t. the statement of eash flows and notes to the financial statements. including significant awounting poliryes. The finaneial r8porting frarnework that ha5 been applied in their preparation is applicable law and United ￿"ngdoM Accx)untin9 Standards, including Financial Reporting Stsndard 102 Th& Financial Reporting Standard applic8bl8 ffn the UK and Republic of Ireland (United Kifigdom Generalty AC￿pted Accounting Practi￿1. In our opinion, the financial 5tatsments'. give a true and fair VEW of the state of the charitable company's affairs as at 31 March 2024 and of its incoming ￿sourCeS and application of resour￿8, for the year then ended.. have been properfy prepa￿d in aecordance United Kingdorn Generally Accepba Aecounts"ng practi￿., and have been prepared in accx)rd3nce with the requiram8nts of the CompaniesAct 2006. Basls for opinion We conducted our 8udit in accorclanc6 with Intemational Stsndarcls on Audthng IUKI IISAS IUKII and applicable v. Our responsibilitres under th03e standards are furthèr described in the Auditors responsibilifves for th8 autlit of Ihe financial stat8m8nts section of our ieport. Vve are independent ol the chanty in accordan￿ with the ethical requirements that are relevant to our audit of the financial staternents in the UK, including the FRC'S Ethical sta￿ard, and w8 hsve fulfill& our other ethical re5ponsibilrties in accordan￿ with these requir8ment3. We belEve that the audit eviden￿ we h8ve obtained is suffiaent and appropri8tÈ to provide a basis for our opinion. Con¢lu$lons relating to going ¢on¢em In 8uditing the financial statsrnents, we have concluded that the trustee5' use ol the going COn￿M basis ol accounting in the preparation of the finan￿8[ statements is appropriate. Based on the work we hav8 pertormed, we have not identified any rnaterial un￿rtaintieS relth.ng to events or conditions that, individually or collectivety, may cast Significant doubt on the charity'5 ability to continu& as 8 going concem for a period of at1è8st Mglve months from when thè fin8nu81 staternent5 are aUthOr￿ed for issue. Our ￿spOnSibl11t18S and the responsibil￿.8$ of thè trustees with respect to going concèm 8r8 descritEd in the rekvant section5 of this report. Othar infomiatlon The other information comprisas the inforrnation induded in thè annual report other than the finanoal statements and our auditorfs report thereon. The trustees 818 responsible for the other information coniained within the annual ort. Our opinion on the finanoal stst8ment5 does not cover tho othar infomiation and we do not express any form of assuran￿ conclu510n thereon. Our responsibility is to read the other Infom)ats"on 8nd, in doing 30. consider whether the tsther information Is materially inconsistent with the financial statements or our knOw￿d￿e obtained In the course of the audit, or otherwise appears to be materially rni5Stated. If we identify such material incon5i5tencies or apparent material misstatements, we a￿ required to detsrniine whether this gives ris8 to a rnaterial rnisstalement in the financial Statements themselves. If, based on the work we hav8 performed, we condude that ther6 IS mattriial rnisstalement ol this other infornation, we are required to report that fact. We have nothing to report in this ￿gard. Mattors on wht¢h we are rèquired to report by ex¢oPtion We have nothing to report in resp8Ct of the following mattèrs in relation to which the Charitses IAecount8 and Reports) Regulatton5 2008 require us to report to you if, in our opinion.. th8 inforrnation given in th& finanrial statements is inwnsistent in any material respect with the trustees, report.. or sufficient accounting records have not been kept". or the finanaal ststements are not in ag￿ement with the accounting records., or we have not re￿Ne￿ all the inforniation and explanations we require for our audrt. WINNER TRADING LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WINNER TRADING LIMITED Responslbllltleo of trustees As expkined more fvlly in the statement of tryst8es' responsibilities, the trustees, who ar8 also the direct015 of the charity for the purpose of company law. are responsibte for the preparation of the financial staternents and for being Satisfied that they give a true alld fair view, and for such internal control 85 the trustees d8temine is necessary to enabl8 the preparation of financjal statements that S￿ free from material misstatement, whether due to fraud or error. In preparing the financial ststernents, the trustsès are responsib￿ for assessing the charity's abi5ity to continue as a going conc8m. disdosing. as app1icab18, matters ￿lated to going concsin and using the going n(xm tiasis of accounts'ng unlgss the trustses either intend to liquid*e the Charitab￿ mmpany or to (xase operations. or have no r8alistic altemats.va but to do so. Auditofs respon8ibilitias forthe audlt of the finaneial statemgnts have been appointed as auditor under section 144 01 the Charitses Act 2011 aThJ ￿port in acrx>rdanc£ wth thg Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurancè about wheth8r the financ4al statements a3 a whole are free from material rni55tatemeDt. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assuran￿ is a hvJh level of assurance but is not a guarantee that an audit conducted In accordanca with ISA5 IUKI will always detect a material misstatement when it exists. Misstatements can aris8 from fraud or error and are considered rnaterial If, individually or in the aggregate. they could ￿asOnablY be expected to influence the economic decisions of users taken on the basis ol these financial statem8nts. The extsnt to which our prOc￿ureS are capable of detecting Irregularit￿9, induding fraud. is dets11￿ below. A ftJrth81 description of our re5ponsibilitses is availabl6 on the Finanaal Reporbng Council s web51te aL https'.11 w.frc.org.uklauditor3r8sponsibilities. Thi5 description forms part ol our auditors report. Use of our report This report is rnade solely to the company's members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company 5 members those rn8ttefs we are requir8d to state to them in an auditoV5 report and for no other purpose. To the fullest extent pemitted by law. we do not auxpt or assume r8sponsibility to anyone other than th8 company and the company's memb8rs as a body, for our aud. ork, for this report, or for the opinions we have fO￿ed. than Leathley (Senior Statutory Auditor) r and on behalf of Fawley Judg¢ & Easton Chartered C8rtifL8d Accountants Statutory Auditor 1 Parliament Street Hull East Yorkshire HU12AS 26 July 2024 Fawley Judge & Easton 15 eligib￿ for appointment as auditor of the charty by wrtue of its èligibilty for appointsnent as auditor of a company under 5eclion 1212 01 the Companie5 Act 2006. WINNER TRADING LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unr8Stri¢ted Unr•$trict8d funds funds 2024 2023 Notes Income and endowments from.. Donab'ons and legacies Charitable actwities Oth81 trading actNities Oth&1 incorne 24,181 2,368,200 19.057 3.000 24,181 2,201,004 17.323 26.150 Total Fncorne 2,414.438 2.268,658 Expenditure on: Raising fund5 Charitable activ￿&3 Other expenditure 18.072 2,467.014 1.200 17,248 1,898,540 13 Total exponditure 2.486,286 1.915.788 Net gainsllloss8sI on investments 14 1459,6881 434.463 Not in¢omellexpgndltur•l and movem•nt in funds 1531.5361 787,333 R8¢onclllation of funds: Fund balances at 1 April 2023 2,198.037 1,410.704 Fund balaneos at 31 Ma￿h 2024 1,666,501 2,198.037 The statsrnent ol financial aets"wties includes all gains and losses ￿cognIsed in thè year. ￿1 incorne and expenditure derive from conts'nuing activities. WINNER TRADING LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Investment property 16 4,261.750 4.638.470 Current assets DebtOfS Cash at bank and in hand 17 520,219 24,542 599,435 24.571 544,761 624,006 Creditors.. amounts falling dug Wlthln one year 19 11.214,1921 11,408,0291 Net current liabilitiès 1669,4311 1784.0231 Total assets less currènt Ilabllitte$ 3,592.319 3,854.447 Creditors: amounts falllng duè aft•r more than one yaar 20 11.925,8181 11.656,4101 Net assgts 8xeludln9 pension Ilability 1,666,501 2,198,037 Net a$8et8 1,666,501 2,198,037 Th8 funds of the eharlty Unrestricted funds 1,666.501 2,198,037 1,666.501 2.198,037 The cornpany is 6ntitLed to the eKempts"on frorn the audit raquirement contained in seeiion 477 of the Companiès Act 2006. for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act2011. The directors acknowledge their responsibilits.es for complyin9 Wlth tha requirements of the Compsn£s Act 20( with respect to accounting records and the preparation of financial statements. The memb&ts have not required the company to obtain an audit of rts financial statements under the requirements of the Cornpanies Act 2006, for the year in question in accordan￿ wth section 476. Thgse financial statement5 have b8en p￿pared in accordance wtth the provisions applicable to companie5 subject to the small cornpanies 18gime. The financial statements were approvad by the trustees on 26 Juty 2024 Ms L M Hildar Tru8t88 L N"Jd6r Company registration nurnb8r 05699019 (England and Wale31 WINNER TRADING LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 hlARCH 2024 2024 2023 Notss Cash flows from operating activitles Cash (absort￿d tyllgenerated from operations 1210,6501 440,054 Investlng aetivities Purchase ol inv8Stment prop&rty 182,9681 1404,4341 Net cash used in investing actlvrtias 182,9681 1404,4341 Financin9 a¢tFvltles Repayrnent ol bank losns 293,589 137,5271 Net eash generated fromllus8d inl financing actfivitias 293.589 137,5271 Nel decrease In ea$h and cash equlvalonts 1291 11,9071 Cash and cash equivalents at beginning of year 24.571 28,478 Cash and eash equivalonts at and of yèar 24,542 24.571 WINNER TRADING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2024 Ac¢ountin9 policies Charity information Winner Trading Limited is 8 prwate company lirnited by guarantee incorporatsd in England and Wales. The registèred office 15 185 Preston Road, Hull. E8StYorkshirè, HU9 SUY. England. 1.1 Accounting conv¢ntion The financial staternents have been prepa￿d in accordanee with the eharity's 19oveming docurnenti. Companies Act 2006, FRS 102 'Thè Financial Reporting Standard applicable in the UK and Republic ol Ir8land' I"FRS 102.1 and the Charities SORP A¢￿U￿tIng and Reporting by Chanties.. Ststement of Recommended Practice applicable to charities pieparing th&ir accounts in accordan(% the Finana81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffectwe 1 January 20191. The charty is a Public Benefit Entity as defined by FRS 102. The financial statement3 a￿ prepared in sterting, which is the fvnctional currency ol the charity. Monetary amounts in these financial statements are roundèd to the nearèst £. The finana¥l statements have been prepared under the historical cost convention, Imodified to include the revaluation ol freehold properb85 and to include invesbment properknes and ￿rtain finanual instruments at frdir valuel. The principal accounting poliaes adopted ar8 set out below. 1.2 Golng ¢oncem At the tim& ol approving the financial statements, thg trustees havo 8 reasonable exp8etatioD that thè charity has adequate resoUr￿S to continue in operational existenr2 for the foreseeable future. Thus the trustees continu8 to adopt the going contxrn basis of accounting in preparing the financial statements. 1.3 Charitabl¢ funds Unrestncted funds are availabla for use at thé discrets.on of th8 trustees in furtheran￿ of their charitsble objectiv8s. Restricted funds are subject to specific conditions by donors or grantors 8$ to how they may be u*d. The purposes and uses ol the restheted funds ar8 58t out In the notes to th& finanaal statements. Endowrnent funds are subject to Speci￿ condits'ons by donors that the ¢xpital must be maintained by the charity. 1.4 Income Incorne is recognised when the charity ￿ legally entitled lo It after any perforrnan(% COnd￿.0nS have been rnet. the amounts can be measured reliably. and it is probab￿ that incom8 will be re￿1vej. Cash donations are recognised on receipt. Other donations are recognised On￿ the charity ha5 been notified of the donation. unless perfomance conditions require deferral ol ihe arnount. Income tax recoverable in r8l&tion to donations received under Gift Aid or deeds of covenant Is reeo9nised at the t'me of the donation. Legacies are recognised orn receipt or otherwisg il the charity has been notified of an imp&nding distributs"on, the amount is known, and re(*ipt is expected. 11 the amount 18 not known, the legacy is treated as contingent as5eL 10- WINNER TRADING LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Accounting policles (Continued) Expondilure Expenditur8 is recognisad once there is 8 legal or constructive obligation to traT¥sfer economic ben8fit to a third party, it ps probab￿ that a transfer of ecorK)rnic benefits will b8 required in Settl￿ent, and the amount ol th8 obligats.on can be rneasu￿d ￿lIablY. Expenditure is classified by ath"vity. Thè ￿sts of each activity arg made up ol the total of dir8ct costs and shared costs, including support costs involved in undertaking each activity. Direct Costs attributable to a single activity are allocated directly to that actsvity. Shared costs which contribute to more than one activity and support costs which are not attributable to a Sing￿ activity are apportioned between those activities on a basis nsistent with the use of resources. Cèntr81 Staff costs are 8lloc8tsd on the basis of time spent, ar depreciation charges are alloealed on the portion of the as5*t's use. 1.6 Tangible flxed as$•ts Tangible fixed assets are Initially measured at cost and subsequently measured at cost or valuats"on, net of depreciation and any irnpaiment lossès. Depr8a8tion is rec¥Jgnised so as to write off the cost or valuth.on of ￿￿ets their residual values over their usefvl lives on th$ followiro bases.. Computers 25% on a Straight line basis The gain or Ioss arising on the disposal of an 8ss8t is determined as the drfFeren￿ be￿een thè s816 pro￿dS and the carrying value of the asset, and is recognised in the statement of fin8ncial acty'vities. 1.7 Investment propèrty Investment property. wh￿h is property hekj to eam rontals andlor for capitsl app￿￿ation, is inth"811y recLwJn158d at cost, whic* includes the purchase cost and any directty attributab￿ expenditure. Subs8qu8nUy ( is measured at lair value at the reporting end date. The surplus or defirit on revaluation is recognised In profft or1055. IProperty rented to a group entity acrounted for as tsngible fixEd ass8ts.1 1.8 Cash and ¢a$h equlvalents Cash and r25h eqUiVa￿nts include cash in hand. deposits held at call with banks, othar short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown thin borrowing$ in current liabilth'es. 1.9 Financial instruments The ¢h8rity has elected to appty thè provisions of Section 11 '8asic Financial In¥truments' and Section 12 'Other Financial Instrurnent5 Issues, of FRS 102 to all of Its financial instruments. Financial instruments are iewgnised in the charity's balan(% sheet when the chanty becomes party to tha contractual prowsions of the instrument Financial assets and liabilities ar8 oftset, wrth the net amounts presented in thg financial ststements. when there is a ￿9allY enfor￿able right to set off the ￿COgnIsed amounts and there is an Intention to settlé an 8 net basis or to realise the asset and 5etUe the Itabilty sirnutsneousty. Basi¢ flnanclalassets Basic financial assets, which indud8 debtor5 and cash and bank balanc8s. ar8 illiti8lly measured at transaction price Including transaction costs and ar8 subsequently carried at arnortised cost using the effective interest rnethod unless the arrangernent Constitutes a financing transaction. wh8r8 the transaction is rne8sured at the present value ol the future rttsipt5 discounted at a market rate of interest. Financial assets classified as receivable wrthin one yèar are not amortised. WINNER TRADING LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢countin9 policios Icontlnuedl Basic financial liabillties Basic financi81 Iiabilrties, including crgditors and bank loans ar8 in￿alty recognised at transaction price unless the arran9ement ctsnstitutes a finanang transaction, where the debt instrument is measured at the present value ol the future paymgnts di5¢0unted st a market rate of inte￿5t. Finan￿81 liabil￿￿$ da5sifi&Y 85 payable wthin one year are not amorb'sed. Debt instruments are subsequendy carrigd at amorti38d cost, using the effectwa Interest ratè method_ Trade credf(ors are obligations to pay for goods or services that have been acquired in the ordinary course of OP8rations frorn suppliers. Amounts payable are dassified as current liabiliti8s if payrnent is due within one year or ￿$s. If not. they a￿ presented as non