RegiSter¢d number." 926759 Charity number: 255074 THE WAYS AND MEANS TRUST LIMITED {A ¢ompany limited by guarantee) UNAUDITED COMMIThEE OF MANAGEMENT'S REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025
THE WAYS AND MEANS TRUST LIMITED IA company Ilmited by guarantee) CONTENTS Page Reference and administrative details of the Charity. its Commlttèe of Management and advisers Chairman's statement Committee of Management's report Committee of Management's responsibilities ststement Independent examinerfs report Statement of financial activities 13 Incotne and expenditure account Balance sheet 14 15-16 Notes to the financSal statemenls 17-26
THE WAYS AND MEANS TRUST LIMITED IA company lirnited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS COMMITTEE OF MANAGEMENT AND ADVISERS FOR THE PERIOD ENDED 31 JANUARY 202S Committee of Management Andrew Villars, Chairrnan Christopher Fuller (resigned 29 July 20251 Frederick Mccrindle Gary Pugh Eleftheria Spencer John Beville Company registered number 926759 Charity registered number 255074 Reglstered office Greenshools Manor Farm Peppard Common Henley-on-Thames Oxfordshire RG9 SLA Company secretary Frances Woolaway Chief executlve officer Frsnces Wool8way Page 1
THE WAYS AND MEANS TRUST LIMrrED . IA company limited by guarantee) CHAIRMAN'S STATEMENT FOR THE PERIOD ENDED 31 JANUARY 2025 The dedicated team of staff and volunteers, together with the management team. have continued lo provide welfare, purpose and an extended family to Dver forty vulnerable adults with mental, physical or learning disabilities. Everyone at the Charity would like lo thank Reading, Wokingham, Oxfordshire, West Berkshire and 8racknell County Councils who continue to acknowledge the support Ptovided by the Charity. Highlights resulting from this year's activities in¢lude: Donation iricome rose by nearly one third. whioh was used to fund the refurblshmenl of the washrooms and installation of new toilet facilities. Oeer fencing erected around the main soft fruit and vegetsble beds. Refurbishment ol the office unit lo extend usable spa. Growing and supplying the plants for Lynne Lambourne's entry to the Chelsea Flower Show. GroMng the chillis for Johnny Hot StuFls hot sauces. Converting two small outbuilclings into the Yew Tree Kitchen. The main fundraising events were.. Festive Fur)draising in November al Sonning Common, a fixture in the local calendar. Canine Capers, a fun dog show at Caversham Court Gardens. Bean Pole Day, also at Cavèrsham Court Gardens. Five open weekend days during spring selling plants and produce. St Andrews Christm85 market. Our volunteers remaln an Integral part of the Charity and generously provide their skills, experience and lime. We have been assisted this year by 180 'tearn day, volunteers, who have been granled 1.OOQ hours away from their rogular work places, and we continue to be indebted to a team of thirty volunteers, who donate over 2.000 hours of their time regularly to help the Charity and our endeavours. We are also grateful lo our workshop customers for the ntInUing support they provide, in partlcular to John George, Fair to Trade, Spinal Research, Richfield Labels and SRUK who provide real work activities for the trainees. the Charity's beneficiaries. We were chosen once again to be involved with the Look Draw Build project, a creative le8ming programme that uses the transport teminal of Reading Slalion to inform and inspire some 500 primary school students every year. Our trainees, in addition lo socialising with their friends and leaming new ski115, in a safe and rewarding environrnenl, enjoy workshop and gardening activities. The workshop provides activity for about 10 trainees, who are occupied in a pa¢king and counting environment, which provides a sense of purpose and teamwork camaraderte. Those at Greenshoots, in our gardening setting help grow fwil, vegetables and plants for th8 sile and for resale. They are fully involved with daily and routine tasks, such as watering, weeding. mowing the grassy areas and harvesting the produce. We are grateful to our volunteers and staff who tum any excess produce into delicious jams and chutneys for sale at our many 8venls. One of the most popular areas of the Charity is our art & craft club. Busy Beos. on Fridays. Attendoes learn about topical events and use their creativity, with support from our staff. to create interesting and entertaining items. Though early days for the Yew Tree Kitchen, a few trainees have begL¢n baking and are thoroughly enjoying expersmenting with flavours whilst baking sweet treats for all lo enjoy. Page 2
THE WAYS AND MEANS TRUST LIMITED (A company Ilmited by guarantee} CHAIRMAN'S STATEMENT ICONTINUED} FOR THE PERIOD ENDED 31 JANUARY 2025 The Ways & Means Trust Charity like many others in the voluntary sector, has continued to face Commereial and operational issues due to the cosl-of-living crisis and cuts in adult health-care support. Strict control of costs, rÈb8tes and generous donations saw the Charity make a most welcome surplus in the year. Our future outlook remains positive. The consolidation of all activities in one location, on tsrget to be completed in the early part of the next financial year, will help the Charity in improving ils financial position and most importantly, increase the range of activities enjoyed ¢ach day by the trainees. I would like lo personally thank stsff, volunteers and the trainees for their continued support, dedication and commitment, in addition to my fellow Iruslees who continue to provide their time, skills and experience to enable the Charity lo fulfil its remit - to provide the trainees with the support they enjoy, plus the personal space to develop and flourish. Page 3
THE WAYS AND MEANS TRUST LIMITED IA company limited by guarantee) CHAIRMAN'S STATEMENT ICONTINUEDI FOR THE PERIOD ENDED 31 JANUARY 2025 We are again indebted to the follolfving for their support, which has allowed us to develop and complete projects for the benefit of all thmughoul the Charity.. 3 Mobile AMCI Europe Andy Trevorrow Beville Estate Agents Blyth Walson Caversham Arts Trail D4Dogs David Gomm F W Goring Gardena Geoff Homsby Gill Selby Graham & Maggie Payne Harmony Choir Henley Agricultural Association J Goddard Janet Offord Lady Judy McAlpine Laithwaites Lynne Lambourne Margaret Notton Miss V Abel Mr P D Evans Mulberry Tnjst Nettlebed Farmers Peppard News & Sonning Common Magazine Reading Lottery Ri¢hard & Alison Bennett Round & About Simon Willims Springwater Church, Peppard Common St Peter's & Sl Paul's Church, Checkendon Sue Clayton The Bell BoDkshop, Henley The Co-op The Garden Design Company The Moderation, Caversham The Veterinary Centre, Henley-on-Thames Tword Beer Fes Women's Insti Sotfning Common, Stoke ROW & Chasey Heath nd Date.. Page 4
THE WAYS AND MEANS TRUST LIMITED (A ¢ompany limlted by guarantee) COMMITTEE OF MANAGEMENT'S REPORT FOR THE PERIOD ENDED 31 JANUARY 2025 The CornmittÈe of Management pr6sent their annual report together wth the financi81 statements of the The Ways and Means Trust Limited for the year 1 February 2024 10 31 January 2025. The Annual rèport seryes the purposes of both a Committee of Management, rtrport and a dlreclors, report under company law. The Committee of Management confimi that the Annual report and financial statements of the charitable company comply with the current ststulory requirements. the requirements of the charitsble companls goveming document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. Since the Charity qualtfies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regul8tlOn5 2013 has been omitted. Objectives and activities a. Poli¢Ses and objectives The Charity works with adults who have leaming. physical or mental health disabilities lo provide socialisation and teamwork opportunities in 8 friendly. person-centred setting to help them to lead rewarding lives. realise their potential and to build their confidence. 11 engages with Community groups and employers to edlscale on disability. lo value inclusion and independence. The 2024125 Business Objectiv8s are.. 1. To provide a high quality supportivè anvironment lo the groups we serve. 2. To provide a range of services lo engage the groups we accommodate. 3. fo provide commerclal income streams and lo sustain a range of initiatives. 4. To creatè a surplus wthin the financial plan from developed income streams, which provides the Charity with a future. 5. To provide a safe working environment for all our groups. 6. To proiqde a welcoming environment lo all our volunteers whilst offering them wtlh rewarding activities. In setting objectives and planning for activities, the Commlttee of Management have given due ¢onsideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. Strategies for achievlng objectives To provide a balanced activity programme for all our nrI¢larIeS Itraineesl in all areas of the Charty- To provide a range of activities lo slimulale their curiosity, to meet their personal aspirations, increase their social skills by providing them with supervised activities. To provide a safe, suppoffj've and caring environment. To provide opportunities for carers. supporters and families to be involved with day to day aclivilies. To provide an open and transparent policy of accepting all individuals, whi¢h Celebrates their diversity. ulture. age, disabilty, etc. Pagè 5
THE WAYS AND MEANS TRUST LIMITED IA company Ilmlted by guarantee) COMMIThEE OF MANAGEMENT'S REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2025 Objectives and activities Icontinuedl c. Activities undertaken to achieve objectives In the year the Charity provided foLrr work areas where these objectives may be met: . Packaging and warehousing - Unit 26 workshop Gardening and horticulture- Greenshoots Socialisalion and core skill training A creative, art & craft environment- the Busy Bees Club. We adhere to health and safety and 811 other slalulory obligations,. the major poli¢ies adopted by the company in pursuit of ils charitable objectives are: 1. To ensure that the services provided are both relevant and accessible to all groups within the community., 2. To ensure the above is reflected in our publicity and literature., 3. To eSiminalÈ all discrimination, cultural bias, provocative phraseology and stereotyping from all parts of our charity., 4. To translate the 3clivities into aetion, the Charity commits both its staff and resources 1000/0 to Ihts benefrt of ils Aims. Achievements and perfomiance a. Maln achièvoments of the Charity Wo conkn'nue lo support over 40 adults with leaming disabilities, cyclical mental ill health or physioal disabilities lo lead rnore fulfilling lives, making friends and growng their community ouJook. The Charity continues lo be supported by grants and donations and it is our objective to continue these streams of funding in order lo provide a balanced and year-end surplus. The Company has drawn up a risk register. which is remewed regulady by th& Committee of Management. This includes a section on the financial status of the cownpany. FinancSal review a. Going concern After making appropriate enquiries, the Committee of Management have a reasonable expectstion that the Charity has adequate rèsources to continue in operational existen for the loreseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 6
THE WAYS AND MEANS TRUST UMITED IA Company limited by guarante8) COMMITTEE OF MANAGEMENT'S REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2025 b. Reserves policy Each year the Committee of Management reviews the financial position and allocates as appropriate lo surplus funds, reseNes in accordance with the Reserves Policy. Reserves are needed to bridge the gap between the spending and receiving of income and lo cover unplanned emergency repairs and other expenditure. The Committee of Management consider5 that the ide81 lev&1 of reserves would be bemfeen two and three month's expenditure. All the assets of the Company are attributable lo unrestricted funds. These assets are sufficient to meet the Charitys obligations under these funds. ¢. Results for the year Outllned below is the result for year*nd January 2025. The Trust had a surplu5 for 2024125 of £13,456. The principal funding sources for the Trust are: Trainees Ibeneficiariesl £232,143 Donations £40,022 Workshop activity £20,476 Car>leer¢ £10,562 Gr&enshools £14,139 The financial performancg of the Charty is achieved with the support of the Trust's partners. volunteers, stakeholders and supporters, who are essential to the day lo day organisalion and lon9 term growth of the Charity. The Trust conlinuÈs to cope wlh the external pressure. in particular between local authorities, funding rates for the same services for the trainees. Structure, govèrnance and management Constitution The Ways and Mèans Trust Limited is regislered as a charitable company limited by guarantee and was set up by a Memorandum of Association. b. Method$ of appointment or election of Committee of Managemant The management of the Charity is the responsibilty of the Committee of Management who are elected and co- opted under the terms of ltte Memoondum ol Association. Page 7
THE WAYS AND MEANS TRUST LIMITED (A company Ilmlted by guarantee) cOMMIEE OF MANAGEMENT'S REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 202S Structure. governance and management (continued) ¢. Organisational structure and declslonamaking policies The Charity is controlled by th8 involvemenl of an elected Committee of Management. The Chief Executive of the Charity, Frances Woolaway, is accountable to Ihe Committee of Management, whilst the departmental managers report, on a day-104ay basis, lo the Chief Executive. The Committee of Man8gemenl annually review the perform8n¢e and remuneration of the key managèment personnel, who are the Chief Executive and the Financial Officer. The Company's Memorandum of Association enforces the following restriclions in the way that the company can Dperale.. al Any propety subject lo the jurisdiction of the Charity commissioners or the Mlnistry of Education shall not form the security given on borrowings without the prior approval, consent or authority required by law, and bl All ineome and propety of the charitable company shall be applied towards the charitable objectives and no proportion should be transferred either directly or indirecuy to the members of the charitable company. d. Pollcles adopted for the induction and training of Cornmittee of Management New trustees undergo an orienlatiot) period to brief them on.. Their legal obltgations under charity and company law-, The Charity Commission guidance on public benefit. The contents of the Mevnorandum and Articles of Assoclatlon., . The Committee of Management and the decision-making pro¢esses-, The business plan and recent financial performance of the Charity., Meetings wth the other Trustees, staff, trainees and volunteers. Trustees are encouraged to attend appropriate external training events, where these will facilitate the undertaking of their role. e. Finan¢lal risk management The Committee of Marbagement have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company. and are satisfied that systems and procedures are in pl8eE lo mitigate exposure lo the major risks. Risks have been identified and a programme of mitigation is in place. the key identified risks are= Maintaining financial stability due lo high dependgncy on income sources to support trainee programmes, especially in the challenging financial climates. Governance and management risk of ensuring appropriate levels of skills of Trustees. Potential loss of key staff and the resultirtg impact on projects and priorities. M8intsining high levels of customer satisfaction {Irainees and their fundersl. Lack of compliance in legislation with parb'cular referenc8 to health and safety and vulnerable adults. Maintaining the security and storage of confidential data. Page 8
THE WAYS AND MEANS TRUST LIMITED IA company limited by guarantee) COMMIThEE OF MANAGEMENT'S REPORT ICONTINUEDI FOR THE PE10D ENDED 31 JANUARY 2025 Plans for future periods The Trust's strategic plan over the next three years includes.. 1. To consolidate all activities on to one site al Greenshoots. 2. To improve trainee accessibility. 3. To continue to diversify activities to improve funding opportunities. 4. To deliver innovative and profitable workshop activities to underpin the programmes available lo trainees. 5. To increase beneficiary numbers and explore new a¢tivities for funding to support programme delivery. 6. To ensure continued financial viability by securing extemal grant opportunities. 7. To further strengthen links Kqlh the local communits'es in which the TrtJsI Dperales, especially around Henley, Reading, Wokingham and the South Oxfordshire areas. Approved by order of the members of the board of Commrtiee of Management on 24 October 2025 and signed on their behalf by.. Andrew Villa (Chair Of T@sleesl Page 9
THE WAYS AND MEANS TRUST LIMITED IA ¢ompany limited by guarantee) STATEMENT OF COMMITTEE OF MANAGEMENT'S RESPONS181LITIES FOR THE PERIOD ENDED 31 JANUARY 2025 The Committee of Management (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Committee of Management's report and the financial statttments in accordance with applicable law 2nd United Kingdom Accounting Standards Iuniled 'ngdorn Generally Accepted Accounting Practi1. Company law requires the Committee of Management lo prepare finanaal slalemenls for each financial year. Under company law, the Committee of Management must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Committee of Management are required to.. select suitable accounting policies and then apply them consistendy., observe the methods and principles tsf the Charrfcies SORP IFRS 1021,. make judgments and a¢counts'ng estimates that are reasonable and pnjdent., state vthelher applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stslements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that th& Charity will continue in business. The Committee of Management are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disdose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Committee of Management on 24 October 2025 and signed on its behalf b An illars (Chair of Trust Page10
THE WAYS AND MEANS TRUST LIMITED ' IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 JANUARY 2025 Independent Examinerfs Reportto the Committee of Management of The Ways and Means Trust Limited I'the Charity) I rep¢rt to the charity Committee of Management on my examination of the accounts of the Charity for the year ended 31 January 2025. Rèsponsibilitles and 8a$ls of Report As the Committee of Management of the Charity land Its dlrectors for the Purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'lhe 2006 Aol'l. Having satisfied Myse that the accounts of the Charty are not required lo be audited under Part 16 of the 2006 Act and are eligible for indèpendent examination, I report in respect of my examination of the Charitys accounts carried out under section 745 of the Charities Act 2011 ('the 2011 Act'l- In carrying out My examination I have followed the Directions given by the Chartty Commission under section 14515){bl ol the 2011 Act. Independent Examinerfs Statement Since the Charity's gross income exceeded £250.000 your examiner must be a member of a body listèd in section 145 of the 2011 Act. I confirm that l am qualrfied lo undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examlnation. I confirm that no matters have come lo my attention in connedion with the examination giving me cause to believe.. accountlng records wère not kepl In respect gf the Charity as required by section 386 of the 2006 Act., or the accounts do not accord with those records.. or the accounts do not Comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and far view which is not a maller considered as part of an independont examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommènded Practice for accovnling and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no coneerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. This report is made solely lo the Charity's Committee of Management. as a b(xly, in accordance with Part 4 of the Charities (Accounts and R8portsl Regulations 2008. My work has been undertaken so that I might state lo the Charitys Committee of Management those matters l am required to stale to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitys Committee of Management as a body, for my work or for this report. Signed.. Dated.. 24 October 2025 Page11
THE WAYS AND MEANS TRUST LIMITED {A company limlted by guarantee} INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2025 David Aesbury FCA Feltons 1 The Green Richmond TVV9 IPL Page 12
THE WAYS AND MEANS TRUST LIMITED IA company Ilrnited by guarantee) STATEMEKf OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JANUARY 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activtties Other income 40.022 277,376 507 40,022 277,376 507 2T,836 276,197 374 Total income 317,905 317,905 304,407 Expendtture on: Charitable activities 304,449 304,449 324,438 Total expenditure 304,449 304,449 324,438 Net movement in funds 13,456 13,456 (20.031) Reconciliation of funds= Total fvnds broughl foward Nel movement in funds 80,318 13,456 80,318 13.456 100.349 {20.031) Total funds carried forward 93.774 93.774 80,318 The Statement of Financial Aelivilies includes all gains and losses recognised in the year. The notes on pages 17 to 26 form part of these financial statements. Page 13
THE WAYS AND MEANS TRUST LIMITED IA ¢ompany Ilmited by guarantee) SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 JANUARY 2025 Total funds 2025 Total fvnds 2024 Note Gross income in the reporting perlod Less.. Total expenditure 317,905 1304,4491 304,4Q7 (324,438) Net in¢omellexpenditure} for the reportlng period 13,456 (20,031) The notes on pages 17 to 26 lorm part of these financial statements. Page 14
THE WAYS AND MEANS TRUST LIMITED IA company limited by guarantee) REGISTERED NUMBER.. 926759 BALANCE SHEET AS AT 31 JANUARY 2025 2025 2024 Note Flxed asset$ Tangible assets 11 38,419 32,041 38,419 32,041 Current assets stocks 12 4,068 50.221 16.510 4,718 42.271 32.439 Debtors Cash at bank and in hand 13 70,799 79,428 Current liabilities Creditors.. amounts falling due w((hin one year 14 115,444) (51, 75f) Net Current assets 55,355 48.277 Total assets less current Ilabilities 93,774 80,378 Net assèts excluding penslon asset 93,774 80,318 Total net assets 93,774 80,378 Charlty funds Restricted funds Unrestricted funds 16 16 93,774 80,318 Total funds 93,774 80,318 The Charity was entitled lo exemption from audlt under section 477 of the Companies Act 2006. The members have not required the Company lo obtsin an audit for the year in question in accordance with section 476 of Compariies Act 2006. The Committee of Management acknowledge thèir responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordan with the provisions applicable lo entities subject to thè srnall companies regime. Page 15
THE WAYS AND MEANS TRUST LIMITED IA company limited by guarantee) REGISTERED NUMBER.. 926759 BALANCE SHEET ICONTINUEDI AS AT 31 JANUARY 2025 The financial statements were approved and authorised for issue by the Committee of Management on 24 October 2025 signeckon their behalf by.. lars /Ichair of Truste The notes on pages 17 10 28 fomi part of these financial slatemenls. Page 16
THE WAYS AND MEANS TRUST LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 General Infomiation The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the companj being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The companys Registered Officé is Gre¢nshoots Manor Fami, Peppard Common, Henley-On-Thames, Oxfordshire RG9 SLA. Accounting policies 2.1 Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting aF)d Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 and the Companies Act 2006. The Ways and Means Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stsled in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income. ti is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in whieh it is receivable and to the 8Xtgnl tha goods have been provided or on completion of the servi. 2.3 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of Ihe obligation can be measured reliably. Expenditure is classified by activity. Thp costs of each activity are made up of the total of direct costs and shared costs, including support costs Involved in undertaking &ach activity. Direct costs attributable to a single activity are allocated direcdy to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent wth the use of resources. Central stsff costs are allocated on the basis of lime spent. and depreciation harges allocated on the portion of the asseys us&. Expenditure on charltable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associate(I support costs. All expenditure is inclusive of irrecoverable VAT. Page 17
THE WAYS AND MEANS TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 Accounting policies l¢ontinuedl 2.4 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tar¢gible fixed assets are initially r@cognised al cost. After recognition. under the eost model, tangible fixed assets are measured at cost less accumulated depreciation and sny aecumulaled impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreci81ion is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, Depreciation is provided on Ihe following bases.. Lon*torm leasehold property Plant and machinery Motor vehicles 12.5 /0 or 15 10 on a stmighl line basis 15 jo on a reducing balance basis 15 Jo on a reducing balance basis 2.5 stocks Stocks are valued at the lower of cost and nèt réalisable value aftèr making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.6 Debtors Trdde and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bar)k and IN hand includes cash and short-term highly liquid investments wrth a short maturity of three months or less from the dale of acquisition or oper)Ing of the deposit or similar account. 2.8 Llabllitles and provisions Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services il must provide. Provisions are measured at the best estimate of the amounts required lo sellle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted 8t the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Slalement of flnancial activilles as a finance cost. Page 18
THE WAYS AND MEANS TRUST LIMITED {A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 Accounting pollcles Icontinuedl 2.9 Financial instruments The Charity only has financial assets and financial liabilitles of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subseqltenly measured al their settlement value with the ex¢eplion of bank loans which are subsequenlly measured al amortised cost using the effective interest method. 2.10 Pension5 The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.14 Fund accounting General funds 8re unreslri¢ted funds which are available for use al the discretion of the Committee of Management in furtherance of the general objectives of the Charity and whlch have riot been designated for other purposes. Income from donations and lega¢ie$ Unrestrl¢ted funds 2025 Total funds 2025 Total funds 2024 Donations 40,022 40,022 27.836 Income from charitable activities Unrestricted funds 2025 Total funds 2025 Total funds 2024 Income from charitablè activities - Greenshoots Income from charitable activities - Commercial Income from charitable activities - Catering 187,188 79,626 10,562 187,188 79,626 10.562 189, 183 77,206 9,808 277,376 277,376 276. 197 Page 19
THE WAYS AND MEANS TRUST LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 other incoming resources Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Bank interest 507 507 374 Analysis of expenditure on charftable actlvlties Summary by fund type Unrestricted funds 2025 Total 2025 Total 2024 Greenshoots Commercial Catering General overheads 93,120 74,253 10.382 126,694 93,120 74,253 10,382 126,694 98,863 86. 782 11.687 127, 106 304,449 304,449 324,438 alysis of expenditure by activities A¢tivities undertaken directly 2025 Support osts 2025 Total funds 2025 Total fvnds 2024 Greenshoots Commercial Catering General overheads 93,120 74,253 10,382 83,406 93,120 74,253 10,382 126,694 98.863 86, 782 11.687 127,106 43.288 261,161 43.288 304,449 324,438 Total 2024 270,575 53,863 324,438 Page 20
THE WAYS AND MEANS TRUST LIMITED {A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 Analysis of expendlture by actlvltles (continuedl Analysis of support costs General overheads 2025 Total funds 2025 Total fvnds 2024 Premises costs Insurane@ Communications Motor & travel Other Governan¢¢ costs 258 6.383 5,752 3,701 20,083 7,111 258 6,383 5,752 3,701 20.083 7,111 1,314 6,407 6.507 3,516 29. 153 6,966 43,288 43,288 53,863 Independent examlner'$ remuneration 2025 2024 Fees payable to the Charit5ls independont examiner for the independerbt examination of the Charity's annual accounts 2,600 2.500 Stafl costs 2025 2024 Wages and salaries Contribution lo defined contrabution pension schemes 167,310 4,916 764,933 4. 709 172.226 769,642 Page 21
THE WAYS AND MEANS TRUST LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 staff costs (¢ontSnued) The average number of persons employed by tho Charity during the year was as follows: 2025 2024 No. Direct charitable activities Management and administration activities Mo employee received remuneration amounting to more than £60,000 in either year. 10. Committee of Management'5 remuneration and expenses During the year, no Committée of Management received any remuneration or other benefits (2024 £NIL). During the year ended 31 January 2025, no Committee of Management expenses have besn incurred (2024 - £NILJ. 11. Tangible fixed assets Long.term lèasehold property Plant and machinery Motor vehicles Other fixed assets Total Cost or valuatlon Al 1 February 2024 Additions 62,916 9.119 271,909 10,000 7.683 1.047 352,508 10,166 Al 31 January2025 72,035 271.909 10.000 8.730 362,674 Depreciation At 1 February 2024 Charge for the year 48,175 2,632 264,077 1,156 8,215 320,467 3,788 Al 31 January 2025 50,807 265.233 8.215 324,255 Page 22
THE WAYS AND MEANS TRUST LIMITED IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 Tangible fixed assets {continued) Long-term leasehold property Plant and machingry Motor Other fixèd vehicles assets Total Net book value At 31 January 2025 21,228 6,676 1.785 8,730 38.419 At 37 January 2024 14,741 7,832 1,785 7,683 32.041 12. Stocks 2025 2024 Finished goods and goods for resale 4,068 4,718 13. Debtor5 2025 2024 Due within one year Trade debtors 17.477 31,339 1,405 23,074 16,415 2, 782 Other debtors Prepayments and accrued income 50.221 42,277 14. Creditors: Amounts falllng due within one year 2025 2024 Bank overdrafls Trade creditors other tsxation and social security Other creditors Accruals and deferred income 500 125 1,732 5,863 2.025 5.324 22,631 2.510 1,967 3.918 15,444 31,151 Page 23
THE WAYS AND MEANS TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 14. Creditors: Amounts falling due withln one year (continued) 2025 2024 15. Financial instruments 2025 2024 Financial assets Financial a8S&ts measured at fair value through income and expenditure 16.510 32,439 Page 24
THE WAYS AND MEANS TRUST UMITED (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 16. Statement offunds Statement of funds - current year Balance at 1 February 2024 Balance at 31 January 2025 Income Expanditure Unrestricted funds General Funds 80,318 317.905 {304.449) 93,T14 statement of funds- prior year BaJanGe al l Febrnary 2023 Balance al 31 January 2024 Income Expendlturè Unrestrieted funds General Funds 100,349 304.407 (324,438) 80,318 1Y. Summary offunds Summary of funds - current year Balance at 1 February 2024 Balance at 31 January 2025 Incorne Expenditure General fLtnds 80,318 317,905 1304.449) 93,774 Summary of funds- pTioryear Balance al 7 February 2023 Balanc8 al 31 January 2024 Income Expenditure General funds 100,349 304,407 (324,438) 80,318 Page 25
THE WAYS AND MEANS TRUST LIMrrED (A company Ilmited by guarantÈe} NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2025 1B. Analysls of nèt assets between funds Analysi$ of net assets between funds - current period Unre$tricled funds 2025 Total fund$ 2025 Tangible fixed assets Curret7t assets Creditors due wilhin ono year 36,419 70,799 175.4441 38,419 70.799 115,444) Total 93,774 93,774 Analysis of net assets between funds - prior perlod Unrestricted Endowmgnl funds funds 2024 2024 Total nds 2024 Tangible fixed assets cur nl assets Creditors due wtlhin one year 32,041 79,428 (31, 151) 32,041 79.428 (31, 151) Total 80,318 80,318 19. P&nsion cornmttments The group operates a defined contriblon pension scheme. The assets of the scheme are held separately from those of the group in ar) independently administered fund. The pension cost charge represents contributions payabl8 by the group to the fund and amounted to £4,916 (2024 - £4.709) were payable lo the fund al the balance sheet date and are included in creditors. Page 26