2023-12-31-accounts - Prosper Wakefield District Ltd

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REGISTERED COMPANY NUMBER: 00489136 (England and Wales) REGISTERED CHARITY NUMBER: 226121

Audited Financial Statements for the Year Ended 31 December 2023

for

Prosper Wakefield District Ltd (A Company Limited by Guarantee)

Slade and Cooper Chartered Certified Accountants Beehive Mill Jersey Street Manchester M4 6JG

Prosper Wakefield District Ltd

Contents of the Financial Statements for the Year Ended 31 December 2023

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	9
Statement of Trustees' Responsibilities		10
Report of the Independent Auditors	11	to	13
Statement of Financial Activities		14
Statement of Financial Position		15
Statement of Cash Flows		16
Notes to the Financial Statements	17	to	27

Prosper Wakefield District Ltd

Reference and Administrative Details for the Year Ended 31 December 2023

TRUSTEES	T Hawkes (resigned 4.5.23)
	S K Russell (resigned 24.8.23)
	V Silver (resigned 4.5.23)
	C Thompson (resigned 26.9.22)
	Mrs C Bernard
	C Longley (appointed 4.5.23)
	M Holt (appointed 1.2.24)
	S A Topham (appointed 13.1.23)
COMPANY SECRETARY	Mrs K Lindley
REGISTERED OFFICE	35 Peterson Road
	Wakefield
	West Yorkshire
	WF1 4DU
REGISTERED COMPANY NUMBER	00489136 (England and Wales)
REGISTERED CHARITY NUMBER	226121
AUDITORS	Slade and Cooper Chartered Certified Accountants
	Beehive Mill
	Jersey Street
	Manchester
	M4 6JG
SOLICITORS	Wrigleys Solicitors LLP
	19 Cookridge Street
	Leeds
	LS2 3AG
BANKERS	Barclays Bank Plc
	Trinity Walk Shopping Centre
	Teal Way
	Wakefield
	WF1 1QS
	Handelsbanken
	Unit 10
	Navigation Court
	Wakefield
	WF1 9FQ
KEY MANAGEMENT PERSONNEL	Kathryn Lindley (CEO)

Page 1

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

The trustees who are also directors of the charity for the purpose of the Companies Act 2006, present their report and financial statements for the year ended 31 December 2023.

The Trustees' Report incorporates the Directors' Report and the Strategic Report for Companies Act 2006 purposes. The Charity went through a rebrand in 2022 and finally changed its name to Prosper Wakefield District Ltd in July 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statement and comply with the charity's articles, the Companies Act 2006 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)" (as amended for accounting periods commencing from 1 January 2016).

Public Benefit

The trustees have complied with section 2(1)(b) of the Charities Act 2011, having due regard to the Charity Commission's guidance on public benefit when reviewing the Charity's aims and objectives, when setting the grant-making policy and in making awards.

OBJECTIVES AND ACTIVITIES

Aims

The objects of the Charity are for public benefit such exclusively charitable purposes (according to the law of England and Wales) as the trustees of the Charity in their absolute discretion think fit from time to time.

The board of trustees are satisfied with the performance of the charity during the year and the position on 31st December 2023.

Mission Statement

To build communities where organisations work together to improve health and reduce health inequalities, especially for the most disadvantaged people, groups and communities. As as independent grant maker we provide financial and practical support to help build sustainable change across the district.

Vision

To create a stronger, healthier and more equal Wakefield district built on VCSE, organisations and other partners working together to support people to thrive.

Values

We strive to be:

Effective Transparent Strategic Trusted Professional Purposeful Listening Flexible Responsive

Volunteers

The charity currently has no volunteers, other than the amazing Board of trustees who offer their services for no charge.

Page 2

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

STRATEGIC REPORT

Achivement and performance

During this period, the Board has worked hard to improve its structure, processes and procedures in terms of governance. A number of strategy sessions have been held involving the full Trustee Board and the staff team, during which clear strategic objectives have been agreed and established. They are reviewed and, if necessary, amended at each strategy session. Development of the strategic objectives has helped to develop improved and effective processes, providing a framework for both governance and operations.

The current strategic objectives are:

The charity has clear and effective processes around governance and a shared operational plan for deliveriy of all activities.
There is a clear plan for the maintenance and future development of the buildings, working alongside tennants.
The charity delivers on its grant making ambitions and demonstrates good practice in grant making in Wakefield. The 4 main priorities are:
a. Children & young people
b. Households on the edge
c. Connectivity
d. VCSE capacity building
The charity's communications are supported with a good flow of case studies and feedback which is linked to the Monitoring process, and the impact grants make on local communities.
The charity demonstrates strong financial management of budget and investments.
Trustee recruitment reflects the needs of the charity and EDI.
There is closer collaboration with Wakefield Community Foundation, other VCSE organisations, the Public and Business sector.
There is commitment and action to leverage investment.
To nurture innovation and pioneering projects.
We remian connected to the needs of Wakefield through research and insight.
We embrace digital innovation to support all aspects of our work.

In addition, a Finance Committee has been established to ensure the effective oversight of both operational budgets and the investment portfolio. All trustees have worked hard to increase their knowledge and understanding of factors that may impact our investment portfolio and have attended numerous sessions aimed at creating an improved understanding of our investment strategy, delivered by our current investment managers. A key focus for the Trustees is to ensure that an investment strategy is followed that will work to recoup some of the losses in recent years, whilst still providing a strong income to support grant-making and operational costs.

The Grants Committee has also been re-established during this period. We are proud of our approach to grant-making, working with trusted partners to distribute the Prosper Together Fund and an expert panel (including some trustee representation) to distribute our small grants scheme rather than depending solely on Trustees. We are working to continually improve this approach to grant making, empowering our beneficiaries and ensuring that grass roots, expertise is at the heart of decision making. Trustees are in agreement that wherever possible, our grant making should be used to leverage additional income into the Wakefield District and we continue to seek partnerships to achieve this. Trustees are currently content to work with a deficit budget, whilst partnerships and investments are developed, but we are working towards reducing this deficit in future years.

Page 3

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

STRATEGIC REPORT

After a lengthy absence, the CEO returned to work in February. It was a year of signifcant change in the trustees' board in March, 2 trustees resigned, and later in the year the chair stood down. Cath Longley returned as Chair, and Simon Topham was appointed to the Board. Trustee recruitment remains a priority for the charity.

Through UKSPF funding, we appointed a Philanthropy and Partnerships Manager in August. This appointment has allowed the charity to expand its reach with the business sector, not only in the Wakefield district, but accross the region. We are We Are Wakefield Ambassadors, and also support the Unsung Hero Awards and WACCL event with sponsorship.

Environmental and economic factors continued to be challenging for many people and families across the district in October, we delivered the second year of the Prosper Together fund, supporting Households on the Edge.

Funding remains a key priority for all VCSE organisations in the district, and a welcome shift in pooling funds with Nova Wakefield District enabled us to deliver a shared 'pot' of funding of £230,000 in a Small Grants Round, (£180,000 from Propser and £50,000 from Nova). We also introduced an Emergency Fund, to support VCSE organisations in crisis.

OUR CHARITABLE ACTIVITIES

Grant Making

The charity's main purpose remains its grant making activities.

Grant Making Policy

Trustees are responsible for grant making policy and the Grants Committee is tasked with developing the policy and presenting it to the full Board of Trustees for approval.

It is currently the policy of the Trustees to review its grant making programme annually and plan the grant making programme for the following year based upon any available evaluations and impact reporting, together with the performance of Prosper investments.

Trustees allocate funding for grant making programmes based upon the resources available from investment income and identified needs and oppotunities with the Wakefied District. At the Trustees discretion, funding allocated to grant making programmes may on occasion exceed investment income available. In such circumstances funding allocated to grant making programmes may be derived from reserves or directly from investment income should the need or opportunity necessitate this.

The potential to leverage additional funds into the Wakefield District through match funding and activities and partnerships with external organisations that generate investment is the main driver for this approach. It is the intention of Trustees that any funds allocated above the investment income received will be temporary.

From 1st January 2023 to 31st December 2023, we delivered two significant funding round

The Prosper Together Fund

Acting on still relevant evidence from the research project, we continue to deliver our highly innovative Prosper Together Fund, (PTF). Round 1 was launched in October 2022, completing in March 2023. Round 2 was launched in October 2023 and will come to an end in May 2024. £115,000 was allocated.

The PTF supports Households on the Edge’, a group who are at risk of falling into poverty, due to low incomes and other factors. The fund is unique in the Wakefield district; for the first time ever, we gave money directly to community hub leaders, to be used to support individuals and families who identified as ‘Households on The Edge’ in ways that they saw fit. Local leaders and their community teams are the people who understand the needs of their local communities and people best and can respond quickly and efficiently when help is needed.

Page 4

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

OUR CHARITABLE ACTIVITES

When we launched Round 2 of PTF in October 2023, we recognised the role that local community hubs played in distributing the funding in local communities and increased the management fee from 10% to 15%.

In October 2023, we invited some new VCSE organisations to become our ‘trusted partners’. This enabled us to reach more people in need, especially those belonging to disadvantaged groups such as blind / partially sighted people, and veterans.

We held regular ‘surgeries’ for trusted partners, and this helped sustain the peer network of support for VCSE organisations taking part.

18 organisations took part. Depending on the size of the organisation they received between £1,150 and £9,500. PTF support has helped to provide all sorts of support including beds for children, food, childcare, and even vets’ bills.

Trusted Partners

Bless Community Support Wakefield District Sight Aid Eastmoor Comunity project Havercroft & Ryehill Community Learning Centre Next Generation Red Roof Centre Rycroft Leisure The Well Project Spectrum People St Catherines Church Centre St Georges Lupset St Marys Community Centre The Old Quarry Adventure Playground Home Start Wakefield
5 Towns Veterans Support Hub
Wakefield & District Society for Deaf People Community Foundation Wakefield District Wakefield District City of Sanctuary

The Small Grants Programme

The need for small grants is a constant across the Wakefield district. In 2023 we worked with our local partners Nova and ‘pooled’ resources, (Prosper contributed £180,000 whilst Nova contributed £50,000). We took the ‘best bits’ from our respective application forms, to simplify the process for applicants, and embarked on a shared comms campaign to promote the fund.

Pooling resources enabled both organisations to help far more local VCSE organisations and gave us a strategic insight into what organisations needed grants for. The majority were once again for running and core costs, due to the Cost-of-Living Crisis and rising fuel bills, and staffing costs.

In total 18 organisations received grants totalling £260,400 but the number of requests we received amounted to a staggering £1.3m. This is an indicator of the gaps in resourcing the sector in the Wakefield district. Grants ranged between £500 and £38,400

We arranged a joint panel, for the first time, including Prosper staff, trustees, Nova staff and a representative from the local authority. It was a collaborative and effective approach and enabled us to support as many VCSE organisations as possible, addressing geographic and thematic needs.

Some of the successful applicants were:

Co-active Arts Learnest Leeds GATE - Leeds Gypsy and Traveller Exchange Solace
The Youth Association Portobello Community Forum

Page 5

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

Humanity 1st Carers Wakefield Kidz Aware Open Country

Infrastructure Support Grants

We have a commitment to support local infrastructure and in 2023 we awarded £25,000 to Nova and £25,000 to Young Lives, (this grant was rolled over from 2022).

Match Funding with Haribo

We matched a sum of £30,000 with local confectionary manufacturer, Haribo. This was distributed in smaller grants to support intergenerational projects.

Emergency Fund - £20,000

In 2023 we created an Emergency Fund, (reallocating £20,000 from the Small Grants pot). This was in response to some requests for help from VCSE organisations who were facing short term challenges in their budgets.

Philanthropy and Partnerships Manager (UKSPF funded post)

In August 2023, we appointed Julie Booth as our Philanthropy and Partnerships Manager. This post is funded through UKSPF funding until the end of March 2025. Julie’s input has been focussed on developing sustainable relationships with businesses and through local and regional networks to encourage more investment and support into the VCSE in Wakefield district. As well as providing financial support in the form of donations, businesses have offered space, skills, volunteers, and resources, to a wide range of community groups and charities across the district. Julie is also making connections with high worth individuals, through legacy programmes, and with individual donors.

Partnership Working and Match Funding

We are part of the We Are Wakefield network and attend their events and workshops. We are WAW Ambassadors and launched a steering group in 2024, to bring together business leaders who are interested in doing more philanthropic work to help the communities of Wakefield.

Through WAW we have connected with lots of business leaders and attended several other events. In December 20203 we sponsored WACCL – the Wakefield Annual Charities Christmas Lunch – and in 2024 we have committed to match funding whatever is raised through this event, to be donated to charities and groups supporting children and young people across the district.

The CEO is part of several high profile and strategic networks and boards, including the Residents First Group, the Health and Wellbeing Board, the Wakefield Partnership Summit, Wakefield Funders Forum, the Bishops Breakfast, Citizen’s Coin Board and the HDRC Shadow Board. Working at a strategic level with other leaders raises awareness of the work of Prosper and amplifies our voice. It also enables us to have a broad, strategic overview of the issues across the district that require our funding. The CEO is also a trustee of the Yorkshire Funders Board, and this gives us insights into regional and national that impact on our grant making activities.

Whilst we are a non-political organisation, we have fostered good links with local politicians, including the leader of the council, the mayor’s office, and with local MPs.

Communications and PR

Throughout much of 2023, our communications were outsourced to a local agency, until we employed a part time worker for 5 months to develop our social and digital presence.

However, the lack of dedicated comms support is not sustainable, and trustees identified this as a priority appointment for 2024

We created promotional merchandise to assist the Philanthropy Manager in connecting with local businesses, and work was done to develop the website. We also produced a leaflet explaining the role of Prosper and how businesses could become Prosper Partners. New signage was erected at Prosper House and 35 Peterson Road.

Monitoring and Evaluation

The second round of the Prosper Together Fund will be evaluated in an Impact Report.

We are keen to support new ways of monitoring and evaluation to demonstrate the impact of our grants. Community Journalists based in the community hubs, continue to provide powerful and compelling stories that demonstrate the impact our Prosper Together Fund grants have on individuals and households.

We held an evaluation and celebration day for Community Hub leaders and Community Journalists in July 2023 to share their feedback on being part of PTF.

Page 6

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

Health Detreminnants Research Programmed (HDRC)

In 2023 Wakefield was announced as one of 15 places selected to be part a HDRC in the second trench of National Institute of Health Research (NIHR) funding. Prosper and St George’s are the local VCSE partners, delivering the Community Insights Workstream, alongside colleagues form the council, and research partners from Sheffield Hallam and Leeds Beckett University. This is an exciting opportunity to change the way decisions about people’s health and social care are made. The partners spent a lot of time in 2023 getting to know each other, building relationships, scoping the detail of the programme, and agreeing governance and reporting systems.

Yorkshire Funders

Proper is a member of Yorkshire Funders, and the CEO is on the board. The network offers a range of training and development opportunities to staff and trustees.

Prosper House, Tenants, Buildings

Safe Places and the Recovery College services are delivered from Prosper House. The intended building and development work including the installation of a lift, was put on hold, due to massive increases in costs.

Plans for Future Periods

The agreed stategic objectives, outlined above, continue to set the direction for the team at Prosper in line with our vision and mission and these are reviewed at Trustee strategy sessions that take place twice a year. During the next year there are plans to address the future of our buildings to ensure we are maximising assets and making best use of time and resources available to the charity.

The HDRC project will bring with it opportunities for collaboration and renewed research into the needs of the people of Wakefield and additional staffing that will sit within the Prosper Team. This is a great opportunity as the funding extends over 5 years.

We also hope to strengthen our Trustee Board with additional Trustees that have the skills, knowledge and experience in key areas where we need support.

Collaboration will be key to our work and focusing on using our networks, grants and funding to leverage additional income into the district will be a major focus. Working in partnership locally, regionally and nationally we will endeavour to bring about the best outcomes for the people in need in the district.

STRATEGIC REPORT

Financial review

The Charity's income for the year amounts to £723,137 (2022: £142,845) and total expenditure for the year amounted to £658,630 (2022: £758,704). The loss for the year after accounting for the losses on investments of £192,857 (2022: £1,572,836) and gains on the revaluation of fixed assets of £100,000 was £28,350 (2022:£2,188,695).

Reserves Policy

The trustees have agreed and approved that the designated reserves equivalent to 3 months full running costs and redundancy liabilities will be set aside in an interest-bearing account (Flagstone). Currently salary and running costs are approx £31,000 per month. For 3 months = £93,000 (3 x £31,000 = £93,000). As of 30.06.2024 the redundancy liability is £14,405.58. The total designated reserves are £107,405.58 (£93,000 + £14,405.58 = £107,405.58).

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Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Prosper Wakefield District Ltd is governed by the Memorandum of Association and Articles of Association, which established the charity.

The charity is a company limited by guarantee as defined by the Companies Act 2006. The charity was incorporated on 6th December 1950 and registered as a charity on 25th September 1963. The Charity is registered in England. The organisation changed its name to Prosper Wakefield Distict from Wakefield and District Health and Community Support Ltd on the 17th July 2023 and changed its Articles of Association on 24th September 2012, by Special Resolution.

Prosper follows a thorough and robust recruitment process for new Trustees. This includes meetings with the Chair and other Trustees, a formal application, interview and probation period. The induction process for new Trustees is equally robust involving meetsings the chair, the provision of relevant documentation and reports as well as training if necessary.

The governing document of the Charity allows for up to 10 Trustees. Trustees are appointed for a 3 year term, and they may serve up to 3 consecutive terms. The quorum at metting of the Trustees is 3 unless there are 7 or more Trustees then it is 4.

The Board of Trustees are responsible for all decision making at Prosper and a scheme of delegation is in place to facilitate the operational team to make necessary decisions to continue the day-to-day opertaion of the Charity.

Between Board Meetings, committees of Trustees and staff meet to manage specific areas of the work of Prosper. Currently there is a Grants Committee, Finance Committee and Buildings Committee, each chaired by a Trustee. Committees make recommendations that are then presented to Trsutees for decision making.

The Chair and CEO meet at least monthly for supervisions and more regularly as issues arise. Arrangements for setting pay and remuneration are made annually at the Finance Committee and presented to the Board for decision. Pay arrangements are based on existing obligations, available resources, team performance and extenuating circumstances such as high levels of inflation. Increases are made at Board discreation taking account of benchmarking with other charities across the Wakefield District and the wider region.

Prosper is proud of its independence, however Trustees recognise the value of collaboration, and we enter into partnerships and collaborations for specific purposes and projects that align with our vision and strategic priorities.

Prosper has recently undergone a comprehensive risk analysis exercise led by Trustees with the support of the operational team. A detailed risk register is in place that classifies risks in a R A G (Red, Amber, Green system). The risk register is examined and updated at each meeting of the Board of Trustees. Trustees are therefore satisifed that all risks relevant to Prosper are recognised and well managed.

Fund-Raising Standards

Propser is a grant making charity, distributing funds predominatly from its investment income. Therefore, very little activity involves any actual fundraising beyond partnership work in collaboration with organisations across the district. Consequently, Prosper is not registered with the Fundraising Regulator. However any limited fundraising activities that may take place in future will be in line with the fundraising codes of practice.

Prosper Trustees

Catherine Longley appointed 04.05.23 Simon Topham appointed 13.01.23 Cynthia Bernard appointed 21.07.21 Mike Holt appointed 01.02.24 (Consultant to the board from June 2023) Tessa Hawkes resigned 04.05.23 Stewart Russell resigned 24.08.23 Victoria Silver resigned 04.05.23

Prosper Staff

Kathryn Lindley CEO Julie Booth Philanthropy & Partnerships Manager Helen Fahey Administrator Vicky Burnley Cleaner

Page 8

Prosper Wakefield District Ltd

Report of the Trustees for the Year Ended 31 December 2023

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

This report is prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

AUDITORS

The auditors, Slade and Cooper Chartered Certified Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 15 August 2024 and signed on the board's behalf by:

C Longley - Chair of Trustees

Page 9

Prosper Wakefield District Ltd

Statement of Trustees' Responsibilities for the Year Ended 31 December 2023

The trustees (who are also the directors of Prosper Wakefield District Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standardsand statements of recommended practice have been followed, subjectto any material departures disclosed and explainedin the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitablecompany will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 10

Report of the Independent Auditors to the Trustees of Prosper Wakefield District Ltd

Opinion

We have audited the financial statements of Prosper Wakefield District Ltd (the ‘charitable company’) for the year ended 31 December 2023, which comprise the Statement of Financial Activities (including the income and expenditure account), the Statement of Financial Position, the Statement of Cash Flows and the related notes. 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 charitable company’s affairs as at 31 December 2023, and of its incoming resources and application of resources, including its income and expenditure, 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 requirements of the Companies Act 2006.

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 charitable company 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees (incorporating the Directors' Report and the Strategic Report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Report of the Trustees has been prepared in accordance with applicable legal requirements.

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Report of the Independent Auditors to the Trustees of Prosper Wakefield District Ltd

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not vistied by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of trustees’ remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 10, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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 specific procedures for this engagement and the extent to which these 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.

enquiry of the charity's staff, management and those charged with governance to identify any instances of noncompliance with laws and regulations

reviewing minutes of meetings of those charged with governance.

reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

Page 12

Report of the Independent Auditors to the Trustees of Prosper Wakefield District Ltd

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.

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.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Christy Yun Hing Lau FCCA DCha CTA Senior Statutory Auditor Slade & Cooper Limited Statutory Auditors Beehive Mill Jersey Street Manchester M4 6JG

27 September 2024

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Prosper Wakefield District Ltd

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 5 Charitable activities Other income Investment income 4 Total EXPENDITURE ON Raising funds 6 Charitable activities 7 Charitable activies Total Gains on the revaluation of fixed assets Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 600 712 39,494 570,005 610,811 2,500 543,804 546,304 100,000 (192,857) (28,350) 11,223,753 11,195,403	Restricted funds £ - 112,326 - - 112,326 - 112,326 112,326 - - - - -	31.12.23 Total funds £ 600 113,038 39,494 570,005 723,137 2,500 656,130 658,630 100,000 (192,857) (28,350) 11,223,753 11,195,403	31.12.22 Total funds £ - 391 - 142,454 142,845 20,020 738,684 758,704 - (1,572,836) (2,188,695) 13,412,448 11,223,753

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities also complies with the requirements for an income and expenditure account under Companies Act 2006.

The notes form part of these financial statements

Page 14

Prosper Wakefield District Ltd

Statement of Financial Position 31 December 2023

Notes FIXED ASSETS Tangible assets 13 Investments 14 CURRENT ASSETS Debtors 15 Cash at bank and in hand CREDITORS Amounts falling due within one year 16 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 18 Unrestricted funds Revaluation reserve TOTAL FUNDS	Unrestricted funds £ 952,298 9,821,980 10,774,278 60,550 398,050 458,600 (37,475) 421,125 11,195,403 11,195,403	Restricted funds £ - - - - - - - - - -	31.12.23 Total funds £ 952,298 9,821,980 10,774,278 60,550 398,050 458,600 (37,475) 421,125 11,195,403 11,195,403 11,095,403 100,000 11,195,403	31.12.22 Total funds £ 852,958 10,014,837 10,867,795 13,536 456,251 469,787 (113,829) 355,958 11,223,753 11,223,753 11,223,753 - 11,223,753

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The financial statements were approved by the Board of Trustees and authorised for issue on the 15 August 2024 and were signed on its behalf by:

C Longley - Chair of Trustees

The notes form part of these financial statements

continued...

Page 15

Prosper Wakefield District Ltd

Statement of Cash Flows

for the Year Ended 31 December 2023

Notes Cash flows from operating activities Cash generated from operations 19 Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of fixed asset investments Sale of fixed asset investments Interest received Dividends received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	31.12.23 £ (578,633) (578,633) (1,573) - - 74 521,931 520,432 (58,201) 456,251 398,050	31.12.22 £ (741,221)
		(741,221)
		(3,726) (10,126,263) 10,128,698 49 126,697
		125,455

		(615,766) 1,072,017
		456,251

The notes form part of these financial statements

Page 16

Prosper Wakefield District Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Charity information

Prosper Wakefield District Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 35 Peterson Road, Wakefield, WF1 4DU. The Company registration number is 00489136.

Accounting convention

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Comapnies Act 2006 ad UK Generally Accepted Accounting Practice.

The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Incoming resources

Income is recognised when the charity 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 charity 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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

continued...

Page 17

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and buildings	-	10% on cost
Fixtures and fittings	-	33% on cost
Computer equipment	-	33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Freehold land and buildings are revalued using the revaluation model.

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 net income/(expenditure) for the year.

Fixed Asses Investments

Fixed asset investments initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those 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).

Taxation

As a charity the company is exempt from tax on income falling within part II of the Corporation Tax Act 2010 and on gains falling within s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to charitable objectives. No tax charges have arisen in the charity.

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 overdraft. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

continued...

Page 18

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Financial instruments

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 trade 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 receivables 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 charity's contractual obligations expire or are discharged or cancelled.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination payments are recognised when the charity is committed to terminate the employment of employees or when termination benefits have been offered. The liability is recognised as the best estimate of the cost at the reporting date.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Company status

Prosper Wakefield District Ltd is a Registered Charity and incorporated as a company limited by guarantee and not having share capital. On a winding up each company member may, if required to do so, to meet any debts and liabilities of the company, be called upon to make a contribution not exceeding £10. Any surplus on winding up, to be passed to another like organisation with similar objects.

continued...

Page 19

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity'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.

And the 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. DONATIONS AND LEGACIES

Donations 4. INVESTMENT INCOME Rents received Dividend income Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Complimentary Therapy Room Other grants		31.12.23 £ 600 600 31.12.23 £ 48,000 521,931 74 570,005 31.12.23 712 112,326 113,038		31.12.22 £ -
				-
				31.12.22 £ 15,708 126,697 49
				142,454
				31.12.22 600 -
				600

continued...

Page 20

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

6. RAISING FUNDS

Investment management costs

Investment management costs
	31.12.23	31.12.22
	£	£
Investment management expenses	2,500	20,020

7. CHARITABLE ACTIVITIES COSTS

£ £ Community research project Grant funding of activities (see note 8) Share of support costs (see note 9) Share of governance costs (see note 8)	Grant making 2023 - - 361,600 288,530 6,000 656,130	Grant making 2022 22,912
		22,912 451,418 256,614 7,740
		738,684

continued...

Page 21

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

8. GRANTS PAYABLE

Grants to institutions: Star Bereavement Support Community Foundation Wakefield District Sight Learnest CIC Leeds Gypsy & Traveller Coactive Arts Wakefield District Citizens Advice Bureau Bless Community Services Youth Association Solace Surviving Excile Kidzaware Wakefield & District Society For Deaf People Homestart Wakefield & District The Old Quarry Adventure Playground Eastmoor Community Centre St Marys Community Centre St Georges Lupset Spectrum People CIC Red Roof Centre CIC The Well Project Ryecroft Leisure CIC Inspiring Community CIC St Catherines Church Havercroft & Ryehill Wakefield & District City of Sanctuary Wakefield Street Kitchen MJ Languages Polish Centre CIC Five Towns Veteran Support Wakefield Community Foundation Mayors Charity Community Media CIC Pontefract Colleries FC Young Lives Consortium Nova Bring Me To Life Disability Sport Yorkshire CIC Reflections Yorkshire Lightwaves Stanbridge Lane Development Grow Wakefield Open Country Kingsley & Fitzwilliams Soup4em Bronte Barbicans ARLFC Oasis Christian Centre	Grant making 2023 £ 55,202 30,000 22,781 19,765 19,739 18,000 17,428 17,065 16,374 15,610 13,142 11,390 11,250 10,925 9,775 9,775 9,775 6,325 5,750 5,750 5,175 5,175 5,175 4,600 4,025 4,000 2,529 2,300 2,300 500 - - - - - - - - - - - - - - - 361,600	Grant making 2022 £ 38,400 - 22,750 - 43,750 - - 5,500 - - 4,000 21,211 11,000 11,000 11,000 11,000 5,500 5,550 5,500 5,500 5,500 5,500 5,500 - - 8,816 4,000 - - 44,468 32,000 25,000 25,000 24,279 20,209 15,930 11,000 5,500 4,997 4,000 3,664 2,000 1,244 1,200
		426,418

Conflicts of Interest

Trustees are recruited from (amongst others) the Wakefield VCSE sector and two trustees have roles at VCSE organisations which have applied for and received grants from Prosper in the current and previous financial year. Simon Topham is a trustee of Nova and CEO of Citizens Advice Wakefield District. Mike Holt is a trustee of St.Georges Lupset. Trustees declare conflicts of interest at the start of meetings and do not take part in meetings where items are discussed relating to COI. Trustees with COI do not take part in grants panels discussing awards to organisations they have any relationships to.

continued...

Page 22

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

9. SUPPORT COSTS

£ Staff costs Depreciation Premise costs Room hire Travelling expenses Office costs Training Legal and professional Subscriptions Advertising and Branding Sundry expenses Bank charges Audit Fees Accountancy Analysed between Charitable activities £ Staff costs Depreciation Premise costs Room Hire Travelling expenses Office costs Training Legal and professional Subscriptions Advertising and Branding Sundry expenses Bank charges Audit Fees Accountancy Analysed between Charitable activities	Support costs £ 135,006 2,233 61,435 2,179 3,479 7,048 954 28,248 5,258 33,614 1,586 284 - 7,206 288,530 288,530 Support costs £ 132,623 1,942 65,736 2,084 6,112 4,598 2,480 6,272 2,196 24,590 1,356 265 - 6,360 256,614 256,614	Governance costs £ - - - - - - - - - - - - 6,000 - 6,000 6,000 Governance costs £ - - - - - - - - - - - - 7,740 - 7,740 7,740	2023 135,006 2,233 61,435 2,179 3,479 7,048 954 28,248 5,258 33,614 1,586 284 6,000 7,206
			294,530
			294,530
			2022 132,623 1,942 65,736 2,084 6,112 4,598 2,480 6,272 2,196 24,590 1,356 265 7,740 6,360
			264,354
			264,354

Support costs are allocated directly wherever possible, where this is not possible costs are allocated based on staff time and staff numbers.

Governance costs includes payments to the current auditors of £6,000, (2022- £7,740) for audit fees.

continued...

Page 23

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	31.12.23	31.12.22
	£	£
Auditors' remuneration (net)	5,000	7,740
Depreciation - owned assets	2,233	1,942

11. TRUSTEES' REMUNERATION AND BENEFITS

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

12. STAFF COSTS

STAFF COSTS
Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Management & Office	31.12.23 £ 117,621 7,433 9,952 135,006 31.12.23 4	31.12.22 £ 115,411 6,433 10,779
		132,623
		31.12.22 4

continued...

Page 24

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

13. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST At 1 January 2023 Additions Revaluation At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022	Freehold land and buildings £ 850,000 - 100,000 950,000 - - - 950,000 950,000	Improvement to property £ 4,692 - - 4,692 4,223 469 4,692 - 469	Fixtures and fittings £ 27,472 - - 27,472 26,995 235 27,230 242 477	Computer equipment £ 8,118 1,573 - 9,691 6,106 1,529 7,635 2,056 2,012	Totals £ 890,282 1,573 100,000
					991,855
					37,324 2,233
					39,557
					952,298
					952,958

Cost or valuation at 31 December 2023 is represented by;

Vaulation in 2023

Freehold land and buildings £ 950,000

The valuation of thefreehold property is based on a valuation by David J Martindale, MRICS on 11 December 2023. Under the historical cost (transferred at 'deemed' cost, previous valuation by David J Martindale, MRICS on 12th December 2017), a book value of £850,000.

14. FIXED ASSET INVESTMENTS

MARKET VALUE At 1 January 2023 Revaluations At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022	Listed investments £ 10,014,837 (192,857) 9,821,980 9,821,980 10,014,837

There were no investment assets held outside the UK (2022: Nil).

continued...

Page 25

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

14. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:

Listed investments £ Valuation in 2021 11,590,108 Valuation in 2022 (1,575,271) Valuation in 2023 (192,857) 9,821,980 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 £ £ Trade debtors 3,264 - Other debtors 16,194 843 Prepayments and accrued income 41,092 12,693 60,550 13,536 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 £ £ Trade creditors 18,599 1,642 Social security and other taxes 4,174 2,765 Other creditors 720 40,025 Accruals and deferred income 13,982 69,397 37,475 113,829 17. RELATED PARTY DISCLOSURES Remuneration of key management personnel The remuneration of key management personnel is as follows: 2023 2022 £ £ Aggregate compensation 76 ,363 70,387 18. FUNDS 1 Jan 2023 Income Expenditure Investment gains/(losses) Gains on the revaluation of fixed assets 31 Dec 2023 £ £ £ £ £ £ Unrestricted General Funds 11,223,753 610,811 (546,304) (192,857) 11,095,043 Revaluation - - 100,000 100,000 - Restricted UK SPF Grant - 62,326 (62,326) - - NHS West Yorkshire ICB - 50,000 (50.000) - - Total 11,223,753 723,137 (658,630) (192,857) 100,000 11,195,043 1 Jan 2022 Income Expenditure Investment gains/(losses) Gains on the revaluation of fixed assets 31 Dec 2022 £ £ £ £ £ £ Unrestricted General Funds 13,412,448 142,845 (758,704) (1,572,836) 11,223,753		Listed investments £ 11,590,108 (1,575,271) (192,857)
		9,821,980

continued...

Page 26

Prosper Wakefield District Ltd

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

19. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Losses on investments Interest received Dividends received Increase in debtors Decrease in creditors Net cash used in operations	31.12.23 £ (128,350) 2,232 192,857 (74) (521,931) (47,014) (76,353) (578,633)	31.12.22 £ (2,188,695) 1,942 1,572,836 (49) (126,697) (11,683) 11,125 (741,221)

20. ANALYSIS OF CHANGES IN NET FUNDS

Net cash Cash at bank and in hand Total	At 1.1.23 £ 456,251 456,251 456,251	Cash flow £ (58,201) (58,201) (58,201)	At 31.12.23 £ 398,050 398,050 398,050

Page 27