**COMPANY REGISTRATION NUMBER: 00487405 CHARITY REGISTRATION NUMBER: 226127** 

## **FLexercise WLHB** 

## **Company Limited by Guarantee Unaudited Financial Statements** 

**31 March 2023** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Financial Statements** 

## **Year ended 31 March 2023** 

||**Page**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**1**|
|Independent examiner's report to the trustees|**6**|
|Statement of financial activities (including income and||
|expenditure account)|**7**|
|Statement of financial position|**8**|
|Notes to the financial statements|**9**|





## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** 

## **Year ended 31 March 2023** 

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. 

## **Reference and administrative details** 

|**Registered charity name**|FLexercise WLHB||
|---|---|---|
|**Charity registration number**|226127||
|**Company registration number**|00487405||
|**Principal office**|PO Box 6981||
||Basingstoke||
||RG24 4GH||
|**Registered office**|c/o Richard Place Dobson||
||Chartered Accountants||
||1-7 Station Road||
||Crawley||
||RH10 1HT||
||West Sussex||
|**The trustees**|||
||S Floyd||
||L Berry||
||J Gronow|Appointed 23 November 2022|
||H Jordan|Resigned 23 November 2022|
||R Jones|Resigned 23 November 2022|
||I Milne (Chair)||
||A Stevenson||
||M Peggie||
|**Founder**|Mary Bagot Stack||
|**Patron**|Sophie Ellis-Bextor||
|**President**|Saba Douglas-Hamilton||
|**Vice Presidents**|Margaret Peggie OBE||
||Rosemary Barber||
||Helen (Pikkie) Smith||
|**Company Secretary**|S Floyd||
|**Independent examiner**|Thomas McManners BSC ACA ACMI||



**- 1 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Structure, governance and management** 

## **Governing document** 

Founded in 1930 by Mary Bagot Stack, the organisation was incorporated as a charity, limited by guarantee and is governed by its Articles of Association, the latest version, approved by the AGM on 27 November 2021. Under the Companies Act 2006 the organisation is permitted to omit the word 'Limited' from its title. Affiliated teachers and those who have become WLHB members have voting rights within the organisation. 

## **Appointment of Trustees** 

As set out in the Articles of Association, the Trustees are appointed by the members of the Association at annual general meetings. Trustees must retire at annual general meetings at least once every three years. At the end of the third term of their office, they shall automatically step down and may not be reappointed until the expiry of 12 months after the end of their third term of office. The Trustees meet at regular intervals throughout the year. Sub-groups exist as and when necessary. Currently these are Steering Group and CPD (Continuing Professional Development) Group. 

## **Risk Management** 

The Trustees have examined the major strategic, business and operational risks that the charity faces and confirm that systems have been established to enable reports to be produced so that the necessary steps can be taken to lessen the risks. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the trustees. 

## **Objectives and activities** 

The objectives of the charity as agreed at the AGM in November 2021 are: 

- (a) to promote health, physical fitness, education and training by supporting teachers to provide opportunities for the showcasing of the Bagot Stack exercise system for the public benefit 

- (b) to support teachers, trainers and assessors qualified in the Bagot Stack exercise system 

- (c) to support provision of professional development opportunities for those involved in providing the Bagot Stack exercise system 

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The charity carried out the objectives by the assisted funding of training of teachers and the promotion of physical education in the form of classes etc. which are available to the general public. 

**- 2 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Achievements and performance** 

The number of classes across the UK has remained similar to the previous year, with a few teachers continuing to take classes online thus giving the opportunity to those without classes in their area to benefit from FLexercise. 

Our social media presence continues to keep FLexercise in the public domain. The website is regularly updated with new blogs (articles). In February 2023 work commenced on a new class search for FLexercise classes which was completed in June 2023 (next financial year to this report).  There is a Facebook presence with regular posts and some activity on Instagram. 

It was reported last year that future qualification for those new to teaching exercise would be through the Duo system run by EMD UK (Exercise, Movement and Dance UK).  Since then, EMD UK have withdrawn from training and thus the opportunity is no longer available. Two students did complete the qualification, but also joined our new Apprentice Scheme. They have since opened FLexercise classes. The Apprentice Scheme is designed for a student to train in an FLexercise class working with the local teacher and tutor. In addition, the student is required to have completed an Anatomy and Physiology course. During the year of this report two have started on the scheme. 

Our teachers have had the opportunity to attend CPD courses in Edinburgh and Torquay. 

The levy scheme continues to provide monthly income of various amounts from teachers depending on the number of classes they teach and the number of participants, since it is a per head, per attendance fee, or a fixed amount per class every month. The teachers have been given the option of choosing which system is best for them. 

Grants have been given towards CPD to aid teachers to keep their qualifications up to date, to share and learn new work. Many teachers lost membership due to Covid and thus teachers were able to apply for a fixed amount per class grant to cover some of their shortfall in income to cover the expenses of keeping the classes going. Grants are available for new classes and to give some classes a boost. The aim is to assist with the expense of promotion. 

The WLHB membership, being those who wish to support the charity, has continued and the number of members for the period of January 2022 – December 2022 was 247, unfortunately a reduction on the previous twelve months. Everyone who is a member is invited to rejoin, this is a rolling membership, so renewal comes due on the month of joining. 

During the year two teachers decided to retire from regular teaching though are still available for relief teaching. Two others who had regular classes have changed their portfolio, and one teacher has fully retired. As at March 2023 there were 79 teachers listed as having classes; 17 teachers who would be prepared to relief teach; and 6 who wished to still be involved but with no teaching responsibility plus 5 Bagot Stack trained teachers running their own, but not FLexercise classes. Thus, the overall numbers remain very similar to the previous year. 

FLexercise WLHB is an organisation member of EMD UK which has proved a very successful arrangement since it was entered into in April 2021. Our teachers receive the same benefits as any teacher or instructor who is a GroupEx member of EMD UK. 

Following on from the discussions on the sustainability and future of the organisation a Steering Group was set up. It is planned for there to be a Teachers’ Network that will be for the teachers and run by the teachers. It is envisaged that this will be operational from 2024. The Steering Group is the link between the Trustees and the Teacher Network to oversee the developments, give advice during the transition period. 

The charity has continued to pursue its objectives, as effectively as possible. 

The amount now in the restricted funds is reduced. Both the funds were for training and the future and the money in them has been used towards the training of new teachers and CPD. 

The income generated from the operational activities has covered the costs and with only a small deficit. 

**- 4 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **Financial review** 

In 2022/23 a legacy of £4,320 was received from the estate of Lorna Alice Watson.  Donations have fallen into different categories: General fees (including levy payments and WLHB membership) £28,000 (2022 30,006); Other donations of £4,858 (2022 £7,274). Total donations for the year £37,179. (2022 £39,280) 

At the end of the year the financial results include voluntary income of £48,154 (including the amounts indicated above) (2022: £41,644). Investment income was £5,992 (2022: £6,390). The total resources expended totalled £56,485 (2022: £47,880). 

## **Reserves Policy** 

The target level of reserves that the charity ought to have in case of the need to disband is £25,000. The rest of the reserves can be used to bridge the funding gap between spending in relation to the charity's expenditure and receiving income. Reserves are also held for any unforeseen expenditure. 

The actual reserves (excluding designated funds and restricted funds) as at 31 March 2023 are £224,083 (2022: £233,883) which exceeds the above amount of £25,000. The Trustees believe that the level of reserves is sufficient for current challenges, though they recognise that it is prudent to ensure that there are sufficient reserves to provide financial flexibility over the longer term. The Trustees continue to review the organisation to assess its sustainability and viability for the years to come 

## **Small company provisions** 

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

The trustees' annual report was approved on 28 September 2023 and signed on behalf of the board of trustees by: 


S Floyd Trustee 


I Milne (Chair) Trustee 

**- 5 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Independent Examiner's Report to the Trustees of FLexercise WLHB** 

## **Year ended 31 March 2023** 

I report to the trustees on my examination of the financial statements of FLexercise WLHB ('the charity') for the year ended 31 March 2023. 

## **Responsibilities and basis of report** 

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’). 

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 

2. the financial statements do not accord with those records; or 

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or 

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


Thomas McManners BSC ACA ACMI 

Independent Examiner 

TTCA Ltd 269 Farnborough Road Farnborough Hampshire GU19 7LY 

28 September 2023 

**- 6 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Statement of Financial Activities (including income and expenditure account)** 

## **Year ended 31 March 2023** 

|||**2023**||2022|
|---|---|---|---|---|
|||Unrestricted|||
|||funds**Total funds**||Total funds|
||**Note**|**£**|**£**|£|
|**Income and endowments**|||||
|Donations and legacies|**5**|37,179|**37,179**|39,280|
|Other trading activities|**6**|10,975|**10,975**|2,364|
|Investment income|**7**|5,992|**5,992**|6,390|
|||`────────`|`────────`|`────────`|
|**Total income**||54,146|**54,146**|48,034|
|||`════════`|`════════`|`════════`|
|**Expenditure**|||||
|Expenditure on raising funds:|||||
|Costs of raising donations and legacies|**8**|–|**–**|250|
|Costs of other trading activities|**9**|24,161|**24,161**|31,797|
|Expenditure on charitable activities|**10,11**|32,325|**32,324**|15,833|
|||`────────`|`────────`|`────────`|
|**Total expenditure**||56,486|**56,485**|47,880|
|||`════════`|`════════`|`════════`|
|Net (losses)/gains on investments|**12**|(7,460)|**(7,460)**|20,312|
|||`────────`|`────────`|`────────`|
|**Net (expenditure)/income and net movement in funds**||(9,800)|**(9,799)**|20,466|
|||`════════`|`════════`|`════════`|
|**Reconciliation of funds**|||||
|Total funds brought forward||233,883|**233,883**|213,417|
|||`─────────`|`─────────`|`─────────`|
|**Total funds carried forward**||224,083|**224,083**|233,883|
|||`═════════`|`═════════`|`═════════`|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 9 to 15 form part of these financial statements.** 

**- 7 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Statement of Financial Position** 

## **31 March 2023** 

|||**2023**||2022|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**Fixed assets**|||||
|Tangible fixed assets|**17**||**281**|421|
|Investments|**18**||**198,014**|205,474|
||||`─────────`|`─────────`|
||||**198,295**|205,895|
|**Current assets**|||||
|Debtors|**19**|**353**||1,648|
|Cash at bank and in hand||**29,545**||33,492|
|||`────────`||`────────`|
|||**29,898**||35,140|
|**Creditors: amounts falling due within one year**|**20**|**4,109**||7,152|
|||`────────`||`────────`|
|**Net current assets**|||**25,789**|27,988|
||||`─────────`|`─────────`|
|**Total assets less current liabilities**|||**224,084**|233,883|
||||`─────────`|`─────────`|
|**Net assets**|||**224,084**|233,883|
||||`═════════`|`═════════`|
|**Funds of the charity**|||||
|Unrestricted funds|||**224,083**|233,883|
||||`─────────`|`─────────`|
|**Total charity funds**|**21**||**224,083**<br>`═════════`|233,883<br>`═════════`|



For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. 

These financial statements were approved by the board of trustees and authorised for issue on 28 September 2023, and are signed on behalf of the board by: 



S Floyd Trustee 

I Milne (Chair) Trustee 

**The notes on pages 9 to 15 form part of these financial statements.** 

**- 8 -** 



**FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** 

## **Year ended 31 March 2023** 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is c/o Richard Place Dobson, Chartered Accountants, 1-7 Station Road, Crawley, RH10 1HT, West Sussex. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Judgements and key sources of estimation uncertainty** 

Significant judgements 

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements consist of the level of income relating to the year, but not yet received to be shown in the accounts. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. 

Restricted funds are subjected to restrictions on their expenditure imposed by the donor. 

**- 9 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

## **Income** 

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

Donations and legacy income are received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. 

## **Resources expended** 

## **Expenditure** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: 

- Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes. 

- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

- All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts. 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

**- 10 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **3. Accounting policies** _**(continued)**_ 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Fixtures and Fittings - 20% straight line 

## **4. Limited by guarantee** 

The charity is a company limited by guarantee and has no share capital. The liability of each association member in the event of winding up is limited to £10. 

## **5. Donations and legacies** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||**Donations**|||||
||Membership fees|28,000|**28,000**|32,006|32,006|
||**Legacies**|||||
||Legacies|4,321|**4,321**|–|–|
||**Other donations and legacies**|||||
||Gift Aid|–|**–**|489|489|
||Other donations|4,858|**4,858**|6,785|6,785|
|||`────────`|`────────`|`────────`|`────────`|
|||37,179|**37,179**|39,280|39,280|
|||`════════`|`════════`|`════════`|`════════`|
|**6.**|**Other trading activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Fundraising activities|10,975|**10,975**|2,364|2,364|
|||`════════`|`════════`|`═══════`|`═══════`|
|**7.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Income from other investments|5,758|**5,758**|6,317|6,317|
||Bank interest receivable|234|**234**|73|73|
|||`───────`|`───────`|`───────`|`───────`|
|||5,992|**5,992**|6,390|6,390|
|||`═══════`|`═══════`|`═══════`|`═══════`|



**- 11 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **8. Costs of raising donations and legacies** 

|||Unrestricted|<br>**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|<br>**2023**|Funds|2022|
|||£|**£**|£|£|
||Costs of generating voluntary income|–|<br>**–**|250|250|
|||`════`|<br>`════`|`════`|`════`|
|**9.**|**Costs of other trading activities**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2023**|
||||£|£|**£**|
||Fundraising and publicity costs||24,161|–|**24,161**|
||||`════════`|`════`|`════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||£|£|£|
||Fundraising and publicity costs||27,430|4,367|31,797|
||||`════════`|`═══════`|`════════`|
|**10.**|**Expenditure on charitable activities**|**by fund type**||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2023**|
||||£|£|**£**|
||Training and education||22,784|–|**22,784**|
||Charitable operational costs||766|–|**766**|
||Support costs||8,775|–|**8,774**|
||||`────────`|`────`|`────────`|
||||32,325|–|**32,324**|
||||`════════`|`════`|`════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2022|
||||£|£|£|
||Training and education||7,934|1,089|9,023|
||Charitable operational costs||520|–|520|
||Support costs||6,290|–|6,290|
||||`────────`|`───────`|`────────`|
||||14,744|1,089|15,833|
||||`════════`|`═══════`|`════════`|
|**11.**|**Expenditure on charitable activities**|**by activity type**||||
|||Activities||||
|||undertaken||**Total funds**|Total fund|
|||directly|Support costs|**2023**|2022|
|||£|£|**£**|£|
||Training and education|22,784|<br>–|**22,784**|9,023|
||Charitable operational costs|766|<br>–|**766**|520|
||Governance costs|–|<br>8,774|**8,774**|6,290|
|||`────────`|<br>`───────`|`────────`|`────────`|
|||23,550|<br>8,774|**32,324**|15,833|
|||`════════`|<br>`═══════`|`════════`|`════════`|



**- 12 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **12. Net (losses)/gains on investments** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2023**|Funds|2022|
|||£|**£**|£|£|
||Gains/(losses) on other investment|||||
||assets|(7,460)|<br>**(7,460)**|20,312|20,312|
|||`═══════`|`═══════`|`════════`|`════════`|
|**13.**|**Net (expenditure)/income**|||||
||Net (expenditure)/income is stated after charging/(crediting):|||||
|||||**2023**|2022|
|||||**£**|£|
||Depreciation of tangible fixed assets|||**140**|140|
|||||`════`|`════`|
|**14.**|**Independent examination fees**|||||
|||||**2023**|2022|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial statements|||**2,058**<br>`═══════`|1,956<br>`═══════`|



## **15. Staff costs** 

The average head count of employees during the year was Nil (2019: Nil). 

No employee received employee benefits of more than £60,000 during the year (2019: Nil). 

## **16. Trustee remuneration and expenses** 

During the year none of the Trustees received remuneration for their services. 

The Trustees received £nil (2020: £3,053) of reimbursed expenses in relation to travel and subsistence costs. 

## **17. Tangible fixed assets** 

||Equipment|**Total**|
|---|---|---|
||£|**£**|
|**Cost**|||
|**At 1 Apr 2022 and 31 Mar 2023**|2,642|**2,642**|
||`═══════`|`═══════`|
|**Depreciation**|||
|At 1 Apr 2022|2,221|**2,221**|
|Charge for the year|140|**140**|
||`───────`|`───────`|
|**At 31 Mar 2023**|2,361|**2,361**|
||`═══════`|`═══════`|
|**Carrying amount**|||
|**At 31 Mar 2023**|281|**281**|
||`═══════`|`═══════`|
|At 31 Mar 2022|421|421|
||`═══════`|`═══════`|



**- 13 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **18. Investments** 

||**Other**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 Apr 2022|**205,474**|
|Additions|**–**|
|Fair value movements|**(7,460)**|
||`─────────`|
|**At 31 Mar 2023**|**198,014**|
||`═════════`|
|**Carrying amount**||
|**At 31 Mar 2023**|**198,014**|
||`═════════`|
|At 31 Mar 2022|205,474|
||`═════════`|



All investments shown above are held at valuation. 

## **19. Debtors** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Trade debtors|**353**|1,159|
|Other debtors|**–**|489|
||`────`|`───────`|
||**353**|1,648|
||`════`|`═══════`|
|**Creditors:** **amounts falling due within one year**|||
||**2023**|2022|
||**£**|£|
|Trade creditors|**2,039**|5,184|
|Accruals and deferred income|**2,070**|1,968|
||`───────`|`───────`|
||**4,109**<br>`═══════`|7,152<br>`═══════`|



## **20. Creditors: amounts falling due within one year** 

Accruals and deferred income balance of £1,872 is made of £1,872 accrual for accounting and independent examination services. 

## **21. Analysis of charitable funds** 

## **Unrestricted funds** 

|||||||Gains and|**At**|
|---|---|---|---|---|---|---|---|
||At|1|Apr 2022|Income|Expenditure|losses|**31 Mar 2023**|
||||£|£|£|£|**£**|
|General funds|||233,883|54,146|(56,486)|(7,460)|<br>**224,083**|
||||`═════════`|`════════`|`════════`|`═══════`|`═════════`|
|||||||Gains and|At|
||At|1|Apr 2021|Income|Expenditure|losses|31 Mar 2022|
||||£|£|£|£|£|
|General funds|||207,961|48,034|(42,424)|20,312|233,883|
||||`═════════`|`════════`|`════════`|`════════`|`═════════`|



**- 14 -** 



## **FLexercise WLHB** 

## **Company Limited by Guarantee** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 31 March 2023** 

## **22. Analysis of net assets between funds** 

||Unrestricted|**Total Funds**|
|---|---|---|
||Funds|**2023**|
||£|**£**|
|Tangible fixed assets|281|**281**|
|Investments|198,014|**198,014**|
|Current assets|29,898|**29,898**|
|Creditors less than 1 year|(4,109)|<br>**(4,109)**|
||`─────────`|`─────────`|
|**Net assets**|224,084|**224,084**|
||`═════════`|`═════════`|
||Unrestricted|Total Funds|
||Funds|2022|
||£|£|
|Tangible fixed assets|421|421|
|Investments|205,474|205,474|
|Current assets|35,140|35,140|
|Creditors less than 1 year|(7,152)|<br>(7,152)|
||`─────────`|`─────────`|
|**Net assets**|233,883|233,883|
||`═════════`|`═════════`|



**- 15 -**