REGISTERED COMPANY NUMBER: 00489136 (England and Wales) REGISTERED CHARITY NUMBER: 226121
Audited Financial Statements for the Year Ended 31 December 2024
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 2024
| 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 | 28 |
Prosper Wakefield District Ltd Reference and Administrative Details for the Year Ended 31 December 2024
TRUSTEES C Bell C Longley (Chair) M Holt (appointed 1.2.24) S A Topham COMPANY SECRETARY Mrs K Lindley REGISTERED OFFICE The Junction Office 33 Charles Steet Horbury Wakefield West Yorkshire WF4 5FH REGISTERED COMPANY NUMBER 00489136 (England and Wales) REGISTERED CHARITY 226121 NUMBER 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 Kathryn Lindley (CEO) PERSONNEL
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
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 2024. Included in the trustee's report is the directors' report as required by company law.
Reference and administrative information set out on page 1 forms part of the report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
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.
AIMS
The objectives 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 reviews the aims, objectives and activities of the charity every year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. Trustees are satisfied with the performance of the charity during the year and the position on 31st December 2024.
Vision
Prosper's vision is to create a stronger, healthier and more equal Wakefield District built on VCSE organisations and other partners working together to support people to thrive.
Purpose
Improving the lives of people in the Wakefield District through grants.
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 an independent grant maker, we provide financial and practical support to help build sustainable change across the Wakefield District".
Volunteers
The charity currently has no volunteers, other than the committed Board of Trustees who offer their services for no charge.
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Prosper Wakefield District Ltd
Report of the Trustees
for the Year Ended 31 December 2024
Strategic Priorities
During this period, we have worked hard to improve the effectiveness of the charity. We have reviewed our 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 priorities have been agreed and established. These are reviewed and, if necessary, amended at each strategy session. Development of the strategic objectives has helped to develop better internal processes and have provided a framework for both governance and operations. The strategic priorities are also linked to staff KPIs and feed through into the charity's appraisal system.
The current strategic priorities agreed in June 2025 are;
Tackling the impact of poverty and inequality.
Supporting people's health, wellbeing and fulfilment.
Support VCSE organisations who are delivering critical services.
We will achieve this through;
Powerful communications and case studies.
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Stronger partnerships with VCSE's, public and private sectors.
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Action on equality, inclusion and lived experience.
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Research and insight driven funding.
Leveraging investment into the District.
Our People
The Staff Team during this period was made up of;
Kath Lindley (CEO - appointed April 2019) Sarah Birtles (Communication Officer - appointed July 2024)
Julie Booth (Partnerships and Philanthropy Manager - appointed August 2023, resigned October 2024) Helen Fahey (Administrator - appointed 2014)
The Partnerships and Philanthropy Manager post is funded by UK SPF money until the end of March 2026. The appointment allowed the charity to expand its reach with the business sector, not only in the Wakefield District, but across the region. Prosper is a We Are Wakefield Ambassador and also supports Wakefield Community Foundation's Unsung Hero Awards and the Wakefield Annual Charity Lunch (WACCL) event with sponsorship.
The Partnerships and Philanthropy Manager left the charity in October 2024. The post was advertised on a reduced salary, and part time applications were encouraged. Interviews took place and the position was filled on a 3 day a week basis, with a future start in February 2025. Trustees committed to 'top up' UK SPF funds so that the appointment could be for a full 12 months, a more realistic timeframe to attract new investment.
The Health Determinants Research Collaboration (HDRC) Community Insight Co-ordinator Role was advertised during this period, and interviews took place in November 2024. The post was filled, which is fully funded by the National Institute of Health Research (NIHR) through the HDRC Programme, for 5 years with a start date of February 2025.
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
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 Wakefield and District Health and Community Support Ltd from the Wakefield and District Hospitals Contributory Scheme Ltd, and changed its Articles of Association on 24th September 2012, by Special Resolution. The Charity underwent a rebranding and name changing exercise in 2023, and changed its name to Prosper Wakefield District Ltd.
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 meetings with the Chair and staff team, the provision of relevant documentation and reports as well as training if necessary.
The governing document of the Charity allows 10 trustees. Trustees are appointed for a 3 year term, and they may serve up to 3 consecutive terms. The quorum of meetings of the trustees is 3 unless there are 7 or more trustees, then it is 4.
Trustee recruitment continues to be a priority, and the Board has asked that the current Trustee Information and Recruitment Pack is updated to reflect a commitment to EDI.
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 day-to-day operations of the Charity.
Between Board Meetings, committees of trustees and staff meet to manage specific areas of 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 trustees for decision making. In June 2025 a Governance and HR Committee has also been established.
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 (from June 2025 remuneration will come under the remit of the Governance and HR Committee). 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 discretion taking account of benchmarking with other charities across 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.
A detailed risk register is in place that classifies risks in R A G (Red, Amber, Green system). The risk register is examined and updated biannually by the Board of Trustees. Trustees are therefore satisfied that all risks relevant to Prosper are recognised and well managed.
The charity has three main committees;
A Finance Committee ensures 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 will be implemented to try to recoup some of the losses in recent years, whilst still providing a strong income to support grant-making and operational costs. Trustees and staff are working on strategies to end a 'deficit' and move towards a £1 running cost v £2 grant making costs which will be in place from 2026.
A Grants Committee meets to discuss and implement decisions around grant making methodology and procedures. We are proud of our flexible, inclusive approach to grant making, and we have worked with trusted partners to effectively distribute the Prosper Together Fund, and with an expert panel (including some trustee representation) to distribute our small grants scheme rather than depending solely on trustees. The current economic climate, pressures on VCSEs and the high demand for all grants means that we are constantly seeking to improve how we do things. We aim to empower our beneficiaries so that grass roots expertise is at the heart of decision making. Trustees are keen that our grant making is used to leverage additional income into the Wakefield District and during this period we continue to seek new and develop existing partnerships to achieve this.
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
A Buildings Committee was established in this period to oversee the marketing and sale of our two properties, 35 Peterson Road and Prosper House. The properties were marketed by Simon Blythe and sold to separate buyers. The sale of both properties achieved £1,003,500.
The Buildings Committee was dissolved after the sale went through and was replaced by a HR and Governance Committee.
ACHIEVEMENTS AND PERFORMANCE
Environmental and economic factors continue to be challenging for many people and families across the District; in October 2024, we delivered the third year of the Prosper Together Fund , supporting households on the edge.
Funding remains a key priority for all VCSE organisations in the District, and this means that our Small Grants Round , which launched in June 2024, was very popular and massively oversubscribed.
An Emergency Fund made two awards in 2024.
We continued to provide VCSE Infrastructure Support during this period, to Nova and Young Lives, who both received £25,000 each. Nova's grant was year 2 of their funding agreement with us, Young Lives received their first award, as they had to resubmit their initial bid with multiple changes.
The charity has pursued Match Funding wherever possible, working with other funding partners, including independent trusts, and national philanthropy organisations, to deliver match funding to enable local VCSE organisations to do more.
GRANT MAKING
The charity's main purpose remains to be 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 opportunities within the Wakefield 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. However, trustees are working towards ending this practice from 2026.
Our Grants
The Prosper Together Fund (PTF)
Now in its third year, this grant fund goes from strength to strength, because of its basis within the heart of communities, and because it puts its trust into the judgement and knowledge of local leaders.
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; we give money directly to community hub leaders, to be used to support individuals and families who identified as ' Households on The Edge' in a number of different ways. Local leaders and their community teams are the people who understand the needs of their local communities and are best placed to respond quickly and efficiently when help is needed.
When we launched Round 3 of PTF in October 2024, we had already recognised the important role that local community hubs play in distributing funding in local communities. This is why we include a 15% management fee.
Some new VCSE organisations joined as PTF trusted partners. The spread of trusted partners now enables us to reach more people in need, especially those belonging to disadvantaged groups such as blind/partially sighted people, Muslim women, veterans and our geographic reach extends right across the District.
Regular online meetings take place with community hub leaders. We have created a What's App Group for better and quicker communications, and leaders talk to each other outside these meetings, sharing and redistributing funds to areas of need where the original 'pot' may have been used up.
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
21 organisations took part in 2024. Depending on the size of the organisation and their experience, in distributing the PTF, they received between £2,000 and £11,500.
PTF support has helped to provide all sorts of support including beds and shoes for children, food, childcare, white goods, carpets, counselling services, rent arrears and car repairs, and even vets' bills.
The Small Grants Programme
The need for small grants is a constant across the Wakefield District. In 2024 we distributed approximately £180,000 to 26 VCSE organisations across the District, ranging from £1,300 to £17,000. In a few cases, we could not offer the VCSE the whole amount they had applied for but provided a contribution which meant that more than half of all applications were in some part successful. Small grants were made to most geographic areas of the District and covered many relevant thematic areas, including children and young people, mental health, BAME support, neurodiversity including ADHD, gypsies and travellers, women and girls, older people, deaf and blind / partially sighted people, eastern European groups, head injury and general community hub support.
Small grants covered core and running costs, salary costs, capital costs and project costs.
Infrastructure Support Grants
We have continued to fund our infrastructure support agencies, Nova and Young Lives with a grant of £25,000 per year each. Nova is in year 2 of the grant agreement, whilst Young Lives are only in year 1.
Match Funding with Partners
In this period, we have worked closely with Sir George Martin Trust, match funding several grants as part of the Small Grants round. We are match funded with the Centre for Social Justice, allocating £7,500 to a local project delivered by Gasped to support the children of ex-drug and alcohol addicts.
We committed to match fund, up to £30,000, with whatever was raised at the Wakefield Annual Children's Charity Lunch (WACCL) in December. The event raised a total of just over £25,000. Trustees approved to fund the total amount pledged, meaning the event raised around £55,500 enabling us to make grants to 17 local charities all supporting children and young people in the Wakefield District.
Our Emergency Fund only provided 2 small grants during this period. One was to help one organisation through a difficult patch whilst they were waiting for new funding coming in, and another was to help a local VCSE organisation with a small 'match' amount to help their success with another bid.
The Wakefield Children's Bed Poverty Campaign helped us to bring together a number of key areas of our work under one umbrella.
Our Philanthropy and Partnerships Manager has struggled to secure investment from local businesses, who were reluctant to invest in a shared, 'district-wide' approach. Business leaders like to know where the money is going! Through the Prosper Together Fund, we realised that many leaders were using the money to buy children's beds. On the back of this evidence, a collaboration between Prosper, Nova and Wakefield Community Foundation, started a conversation with a national charity Zarach, who work with providers like Silent Night and Harrison Spinks, to purchase good quality beds. These will last a child at least 8 years, so throughout their years at Primary and Secondary schools. Working with Zarach enabled the team at Prosper to uncover some shocking statistics. 6,000 children across the District do not have a bed to sleep in; many are sleeping in baths, on sofas or even on the floor; many others are sharing beds with siblings and in some cases, older relatives. There is a direct correlation between the number of school exclusions (19% across the District), and the number of children without a bed. It was not a difficult decision to agree that we all needed to work together to address this problem and Prosper took the lead in developing an initiative to bring in multi-partners on a joint campaign.
We took the campaign to the Wakefield Residents' First Group, (where we represent the sector), and secured match funding totalling £44,000, (from Gleeds, Wakefield Council, Wakefield District Housing and a grant from Prosper). Additional funds were raised by a Just Giving Page, and by match-funding the investment by 2 local businesses, Juice Personnel and Solupak.
We launched the campaign in October 2024 at the We Are Wakefield network showing a film we had been able to make through the support of UK SPF funding.
The campaign has gone from strength to strength, attracting investment, encouraging volunteer opportunities and skills sharing, and has shown to be a way to effectively connect on a very personal level with local businesses.
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
Fund-Raising Standards
Prosper is a grant making charity, distributing funds predominantly 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 fundraising codes of practice.
Monitoring and Evaluating our Impact
We undertake monitoring and evaluation in a number of ways. These include making visits with trustees to beneficiaries, regular meetings with beneficiaries, in person and online, attending networking and other events with beneficiaries, and just picking up the phone to call them. We also circulate monitoring and evaluation forms to all beneficiaries, who are expected to provide us with feedback within a designated time period.
The charity's monitoring and evaluation forms have been reviewed and updated, working to a more streamlined approach that recognises the difficulty of measuring impact and the onus on leaders to complete lengthy time-consuming forms. The administrator undertook an analysis of feedback, and a report was circulated to trustees.
Further work on measuring the impact of the charity's grant making activities is ongoing. The regular meetings with local leaders taking part in the Prosper Together Fund are invaluable, as we get to hear stories of impact, showing that sometimes, the smallest change and intervention, can have the greatest meaning and impact.
The addition of the Community Insight Co-ordinator in the HDRC Research Programme, will be invaluable, and will enable us to build on our previous work with community researchers and community journalists. We are always keen to support new ways of monitoring and evaluation to demonstrate the impact of our grants and have actively encouraged PTF holders to submit short films as evidence of the impact our Prosper Together Fund grants have on individuals and households.
We held a second evaluation and celebration day for Community Hub leaders and Community Journalists in May 2024 to share their feedback on being part of PTF.
Our Communication
In July 2024 we appointed Sarah Birtles to the role of Communications Officer. Sarah has made a huge difference to the quality and quantity of the charity’s communications, and importantly, how we demonstrate the impact of our grant making activities. We have made huge improvements to the website, created a film (using UK SPF funding), to help us better connect with business and other funding partners, we have a real presence on social media, and we have created a number of banners and leaflets to enable us to promote the Children’s Bed Poverty campaign. Sarah has written up many case studies showing the impact of our grants and has also worked on creating templates for Board papers and minutes, ensuring all our documents, policies and procedures are branded correctly.
Our Buildings And Our New Office Base
The future plans of the charity have included a commitment to sell off some of its capital assets. The cost of running the charities offices at 35 Peterson Road has long been a topic for discussion at Board meetings, and it was finally agreed, after huge increases in fuel bills, to put the buildings up for sale.
In September 2024, the team moved out of the offices based at 35 Peterson Road into new accommodation at the Junction in Horbury. The move was a breath of fresh air and has enabled us to make a new start in a bright, light and airy creative space.
The tenants (Wakefield Talking Newspapers and Wakefield District Sight Aid, in Peterson Road, and Touchstone, in Prosper House), were informed, and those in Prosper House were asked to vacate by 30th September. Trustees agreed that Touchstone could stay longer, whilst the sale was agreed. Grow Wakefield was also allowed to stay in situ until the sale went through, and buyers had been secured.
Simon Blythe Estate Agents handled all aspects of the sale, and a closing date on best and final bids was confirmed as 16th January 2025.
Health Determinants Research Programme (HDRC)
This programme is an exciting new area of work for the charity. In 2023 Wakefield was announced as one of 15 places selected to be part of HDRC in the second trench of National Institute of Health Research (NIHR) funding. Prosper and St George’s Lupset were named as the local VCSE partners, delivering the Community Insights Workstream, alongside colleagues from the council, and research partners from Sheffield Hallam and Leeds Beckett University. This is a great
opportunity to play a part in changing the way decisions about people's health and social care are made in the Wakefield District. In 2024 the programme launched, and recruitment to all main posts was completed.
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
The appointment to the post of Community Insight Co-ordinator was the last post to be filled, in February 2025. The CEO has continued to attend many HDRC events and meetings throughout 2024 and is part of the HDRC Advisory Board.
Financial Review
The Charity's income for the year amounts to £726,972 (2023: £723,137) and total expenditure for the year amounted to £751,852 (2023: £658,630). The profit for the year after accounting for gains of £250,618 (2023: losses of £192,857) was £225,738 (2023: Losses of £28,350).
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 £19,250 per month. For 3 months = £57,750 (3 x £19,250). As at 30.06.2025 the redundancy liability is £6,471. The total designated reserves are £64,221 (£57,750 + £6,471 = £64,221).
Partnership Working
Across the staff team, we are part of many 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 trends 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.
Regional and National Links And Partnerships
Prosper 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, and there is regular take up of all opportunities.
Plans for the Future
The agreed strategic priorities, outlined above, continue to set the direction. Strategic priorities are reviewed at biannual away days, and adjustments made in line with our vision and mission statements.
The buildings will be sold and assets realised in 2025, with profits reinvested into the portfolio to boost the charity's dividend income.
The HDRC project will bring with it opportunities for collaboration and renewed research into the needs of the people of Wakefield which will help shape the charity's grant making approaches and themes.
In the next year we must strengthen our Trustee Board with additional trustees that have the skills, knowledge and experience in key areas where we need support.
We will continue to build our strong relationships with partners and focus on areas where we can attract financial investment into the charity outside of match funding. Collaboration will be key to our work and using our networks, grants and funding to leverage additional income into the District will be welcomed. Working in partnership locally, regionally and nationally we will endeavour to bring about the best outcomes for the people in need in the District.
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Prosper Wakefield District Ltd
Report of the Trustees for the Year Ended 31 December 2024
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 and signed on the board's behalf by:
C Longley - Chair of Trustees 10 September 2025
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Prosper Wakefield District Ltd
Statement of Trustees' Responsibilities for the Year Ended 31 December 2024
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
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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 2024 which comprise the Statement of Financial Activities, (including the income and expenditure account), the Statement of Financial Position, the Statement of Cash Flows and 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the 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
T he 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
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 ]
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financial year for which the financial statements are prepared is consistent with the financial statements; and
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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 visited 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 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 auditors 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 for and on behalf of Slade & Cooper Limited Statutory Auditors Beehive Mill Jersey Street Manchester M4 6JG
Page 13
Prosper Wakefield District Ltd
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2024
| 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 activities Total Gains on the revaluation of fixed assets Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfer between funds Net movement in funds TOTAL FUNDS CARRIED FORWARD RECONCILIATION OF FUNDS Total funds brought forward |
Unrestricted funds £ - 484 - 526,201 526,685 2,500 600,528 603,028 - 250,618 174,275 (10,108) 164,167 11,359,570 11,195,403 |
Unrestricted funds £ - 484 - 526,201 526,685 2,500 600,528 603,028 - 250,618 174,275 (10,108) 164,167 11,359,570 11,195,403 |
Restricted funds £ - 200,287 - - 200,287 - 148,824 148,824 - - 51,463 10,108 61,571 61,571 - |
31.12.24 Total funds £ - 200,771 - 526,201 726,972 2,500 749,352 751,852 - 250,618 225,738 - 225,738 11,421,141 11,195,403 |
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) - (28,350) 11,195,403 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 2024
| 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 Restricted funds Revaluation Reserve TOTAL FUNDS Notes |
951,227 10,085,133 11,036,360 60,973 390,402 451,375 (128,165 ) 323,210 11,359,570 11,359,570 Unrestricted funds £ |
- - - 61,571 - 61,571 - 61,571 61,571 61,571 Restricted funds £ |
951,227 10,085,133 11,036,360 122,544 390,402 512,946 (128,165 ) 384,781 11,421,141 11,421,141 11,259,570 61,571 100,000 11,421,141 31.12.24 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 31.12.23 Total funds £ |
|---|---|---|---|---|
The trustees acknowledge their responsibilities for
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the (a) Companies Act 2006 and
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 (b) 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 10 September 2025 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 2024
| Notes Cash flows from operating activities Cash generated from operations 20 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 |
31.12.24 £ (474,250) (474,250) (1,052) (13,770) 1,223 203 479,998 466,602 (7,648) 398,050 390,402 |
31.12.23 £ (578,633) (578,633) (1,573) - - 74 521,931 520,432 (58,201) 456,251 398,050 |
|---|---|---|
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 2024
1. ACCOUNTING POLICIES
Charity information and status
Prosper Wakefield District Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is The Junction Office 33, Charles Street, Horbury WF4 5FU. The Company registration number is 00489136. 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.
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 Companies Act 2006 and 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 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 2024
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.
| Improvements to property | - | 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 Asset 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 2024
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.
continued...
Page 19
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
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.
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 Rents received Dividend income Deposit account interest INVESTMENT INCOME |
31.12.24 £ 46,000 479,998 203 526,201 31.12.24 £ - - |
31.12.23 £ 48,000 521,931 74 570,005 31.12.23 £ 600 600 |
|---|---|---|
4. INVESTMENT INCOME
5. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted funds £ Complimentary Therapy Room 484 Other grants - 484 |
Restricted funds £ - 200,287 200,287 |
31.12.24 £ 484 200,287 200,771 |
31.12.23 £ 712 112,326 113,038 |
|---|---|---|---|
continued...
Page 20
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. RAISING FUNDS
Investment management costs
Investment management expenses
| 31.12.24 | 31.12.23 |
|---|---|
| £ | £ |
| 2,500 | 2,500 |
7. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities (see note 8) Share of support costs (see note 9) Share of governance costs (see note 8) Restricted expenditure Unrestricted expenditure |
Grant making 2024 £ 461,301 282,051 6,000 749,352 2024 £ 148,824 600,528 749,352 |
Grant making 2023 £ 361,600 288,530 6,000 656,130 2023 £ 112,326 543,804 656,130 |
|---|---|---|
continued...
Page 21
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
8. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| Grant | Grant | |
| making | making | |
| 2024 | 2023 | |
| Grants to institutions: | £ | £ |
| Zarach | 44,000 | - |
| WACCL | 30,000 | - |
| Spectrum People CIC | 25,485 | 6,325 |
| Nova Wakefield | 25,000 | - |
| Young Lives Consortium | 25,000 | |
| Red Roof Centre CIC | 17,750 | 5,750 |
| Five Towns Christian Fellowship | 17,050 | - |
| Youth Association | 17,020 | 16,375 |
| Bless Community Services | 14,925 | 17,065 |
| National Coal Mining Museum | 12,300 | - |
| St Marys Community Centre | 11.500 | 9,775 |
| Homestart Wakefield & District | 11,500 | 11,250 |
| The Old Quarry Adventure Playground | 11,500 | 10,925 |
| Eastmoor Community Centre | 11,500 | 9,775 |
| St Georges Lupset | 11,500 | 9,775 |
| Wakefield & District City of Sanctuary | 10,825 | 4,025 |
| Umbrella Family Centre | 10,580 | - |
| Leeds Gypsy & Traveller | 10,000 | 19,739 |
| West Yorkshire ADHD | 10,000 | - |
| Mindful Movers | 9,360 | - |
| The Well Project | 8,625 | 5,750 |
| St Catherines Church | 8,625 | 5,175 |
| Wakefield District Sight | 8,125 | 22,781 |
| Featherstone Rovers Foundation | 8,050 | - |
| Brocky's Trust | 7,980 | - |
| Portobello Community | 7,500 | - |
| Gasped | 7,478 | - |
| Grow Wakefield | 6,102 | - |
| Wakefield & District Society For Deaf People | 6,075 | 11,390 |
| Community Foundation | 5,750 | 30,000 |
| Ryecroft Leisure CIC | 5,750 | 5,175 |
| Inspiring Community CIC | 5,750 | 5,175 |
| Havercroft & Ryhill | 5,750 | 4,600 |
| Five Towns Veteran Support | 5,750 | 2,300 |
| Seaglass Collective | 5,460 | - |
| Enabling Youth and Motor | 5,084 | - |
| Aphasia Support | 4,500 | - |
| Headway | 4,153 | - |
| Learnest CIC | 2,400 | 19,765 |
| One Ummah Community | 2,300 | - |
| Well Women Centre | 2,000 | - |
| Denby Dale Collieries | 1,300 | - |
| Coactive Arts | - | 18,000 |
| Star Bereavement Support | - | 55,202 |
| Wakefield District Citizens Advice Bureau | - | 17,428 |
| Solace Surviving Exile | - | 15,610 |
| Kidzaware | - | 13,142 |
| Wakefield Street Kitchen | - | 4,000 |
| MJ Languages Polish Centre CIC | - | 2,529 |
| Wakefield Community Foundation | - | 2,300 |
| Mayors Office | - | 500 |
| 461,301 | 361,600 |
continued...
Page 22
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
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 either in the current or 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 meeting where items are discussed relating to COI. Trustees with COI do not take part in grants panels discussing awards to organisations they have relationships with.
continued...
Page 23
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
9. SUPPORT COSTS
| Staff costs Depreciation Loss on disposal 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 £ 175,011 2,123 12 56,441 5,373 6,195 6,269 1,393 4,841 8,291 6,043 1,883 282 - 7,894 282,051 282,051 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 |
Governance costs £ - - - - - - - - - - - - - 6,000 - 6,000 6,000 Governance costs £ - - - - - - - - - - - - 6,000 - 6,000 6,000 |
2024 £ 175,011 2,123 12 56,441 5,373 6,195 6,269 1,393 4,841 8,291 6,043 1,883 282 6,000 7,894 288,051 288,051 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 |
|---|---|---|---|
continued...
Page 24
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
9. SUPPORT COSTS - continued
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, (2023- £6,000) for audit fees.
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.24 | 31.12.23 | |
|---|---|---|
| £ | £ | |
| Auditors' remuneration (net) | 5,000 | 5,000 |
| Depreciation - owned assets | 2,123 | 2,233 |
11. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
12. 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 |
31.12.24 £ 150,019 11,030 13,962 175,011 31.12.24 4 |
31.12.23 £ 117,621 7,433 9,952 135,006 31.12.23 4 |
||
|---|---|---|---|---|
continued...
Page 25
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
13. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|
| COST OR VALUATION At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Freehold land and buildings £ 950,000 - 950,000 - - - 950,000 950,000 |
Improvements to property £ 4,692 - 4,692 4,692 - 4,692 - - |
Fixtures and fittings £ 27,472 1,052 28,524 27,230 592 27,822 702 242 |
Computer equipment £ 9,691 - 9,691 7,635 1,531 9,166 525 2,056 |
Totals £ 991,855 1,052 |
| 992,907 | |||||
| 39,557 2,123 |
|||||
| 41,680 | |||||
| 951,227 952,298 |
Cost or valuation at 31 December 2024 is represented by:
Valuation in 2024
Freehold land and buildings £ 950,000
The valuation on the freehold 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 2024 Additions Disposals Revaluations At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Listed investments £ 9,821,980 13,770 (1,235) 250,618 10,085,133 10,085,133 9,821,980 |
|---|---|
There were no investment assets held outside the UK (2023: Nil).
continued...
Page 26
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
14. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 December 2024 is represented by:
| Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income 17. RELATED PARTY DISCLOSURES Remuneration of key management personnel The remuneration of key management personnel is as follows: Aggregate compensation |
Listed investments £ 11,590,108 (1,575,271) (192,857) 263,153 10,085,133 31.12.24 31.12.23 £ £ 2,017 3,264 32,541 16,194 87,986 41,092 122,544 60,550 31.12.24 31.12.23 £ £ 11,514 18,599 3,024 4,174 1,235 720 112,392 13,982 128,165 37,475 2024 2023 £ £ 79,129 76,363 |
Listed investments £ 11,590,108 (1,575,271) (192,857) 263,153 10,085,133 |
Listed investments £ 11,590,108 (1,575,271) (192,857) 263,153 10,085,133 |
|---|---|---|---|
| 31.12.23 £ 3,264 16,194 41,092 60,550 31.12.23 £ 18,599 4,174 720 13,982 37,475 2023 £ 76,363 |
18. FUNDS
| Investment | Transfer | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Jan 2024 | Income | Expenditure | gains/(losses) | between funds | 31 Dec | 2024 | |||
| £ | £ | £ | £ | £ | £ | ||||
| Unrestricted | |||||||||
| General funds | 11,095,403 | 526,685 | (603,028) | 250,618 | (10,108) | 11,259,570 | |||
| Revaluation | 100,000 | - | - | - | - | 100,000 | |||
| Restricted | |||||||||
| UK SPF Grant | 88,465 | (88,465) | - | - | - | ||||
| HDRC Grant | - | 77,930 | (16,359) | - | - | 61,571 | |||
| Bed Campaign | 33,892 | (44,000) | - | 10,108 | - | ||||
| Total | 11,195,403 | 726,972 | (751,852) | 250,618 | - | 11,421,141 |
continued...
Page 27
Prosper Wakefield District Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
18. FUNDS - continued
| 18. FUNDS - |
continued | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Gains on the | ||||||||||
| Investment | revaluation of | |||||||||
| 1 Jan 2023 | Income | Expenditure | gains/(losses) | fixed assets | 31 Dec | 2023 | ||||
| £ | £ | £ | £ | £ | £ | |||||
| Unrestricted | ||||||||||
| General funds | 11,223,753 | 610,811 | (546,304) | (192,857) | - | 11,095,403 | ||||
| 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 | 11,195,403 |
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING 19. ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges (Gain)/losses on investments (Profit)/Loss on disposal of investments Interest received Dividends received Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash used in operations |
31.12.24 £ 225,738 2,123 (250,618) 12 (203) (479,998) (61,994) 90,690 (474,250) |
31.12.23 £ (128,350) 2,232 192,857 - (74) (521,931) (47,014) (76,353) (578,633) |
|---|---|---|
20. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.24 £ Net cash Cash at bank and in hand 398,050 398,050 Total 398,050 21. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year Between one and five years |
Cash flow £ (7,648) (7,648) (7,648) 31.12.24 £ 25,006 17,325 42,331 |
At 31.12.24 £ 390,402 |
At 31.12.24 £ 390,402 |
|---|---|---|---|
| 390,402 390,402 31.12.23 £ - - - |
22. POST BALANCE SHEET EVENTS
Post year end all property owned by Prosper Wakefield District Ltd has been sold. 35 Peterson Road sale was completed on the 13th April 2025 for sale proceeds of £478,500 and the sale of Prosper House completed on the 6th June 2025 for sale proceeds of £525,000.
Page 28