**Draft Financial Statements at 19 July 2024 at 12:18:45**
**Charity registration number 295501**
**Company registration number 02052268 (England and Wales)**
## **ONE WESTMINSTER**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr M Ayres (Chair)||
|---|---|---|
||Mr M Hazell (Treasurer)||
||Ms C Botha|(Appointed 5 October 2023)|
||Ms E K A Fritz||
||Ms P Fudlalla||
||Ms S Annis||
||Ms N Lakhdar||
||Ms K O'Donoghue||
||Mr E H K YEO||
|**Secretary**|Ms J Rosenberg||
|**Senior management**|Ms J Rosenberg|CEO|
|**Charity number**|295501||
|**Company number**|02052268||
|**Registered office**|37 Chapel Street||
||London||
||NW1 5DP||
|**Auditor**|Critchleys Audit LLP||
||Beaver House||
||23-38 Hythe Bridge Street||
||Oxford||
||OX1 2EP||
|**Bankers**|Unitry Trust Bank||
||Nine Brindley Place||
||Birmingham||
||B1 1HB||
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 6|
|Independent auditor's report|7 - 9|
|Statement of financial activities|10|
|Balance sheet|11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 22|
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
_The Objects of One Westminster remain:_
- _To promote volunteering and the role of voluntary organisations to achieve any charitable purpose for the benefit of the community._
- _To promote any charitable purpose and, in particular, the advancement of education, relief of unemployment, the protection of health and the relief of poverty, distress and sickness and_
- _To promote and organise cooperation to facilitate the achievement of the above charitable purposes and to that end to bring together in council representatives of voluntary organisations and statutory authorities within the area of benefit which are engaged in the furtherance of the above charitable purposes._
_We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our work and in planning future activities._
## **Achievements and performance**
## **10 Years of One Westminster**
This year marks our 10[th] anniversary since the merger of VAW and VCW in April 2014. We are all very proud of our achievements over the past 10 years. Raising the profile of the local voluntary sector and volunteering across the borough and, in the past few years, lobbying for, and successfully securing, NHS funding to deliver social prescribing alongside our community partners.
We have strengthened our ties with our local and regional NHS and built strong partnerships with colleagues in Westminster City Council. Most importantly, we have developed strong and deep relationships with a wide range of local Westminster Voluntary and Community organisations across borough. This family of organisations deliver huge amounts of work to support those most in need in the City, helping the City Council and local NHS to meet their stated aims of reducing health inequalities, and supporting our community to be more resilient and engaged and less lonely and socially isolated. We fully intend to build on these relationships and achieve even more over the next 10 years.
## **Introduction and Headlines**
This has been another busy and productive year for everyone at One Westminster. Our relationship with the City Council has gone from strength to strength with many requests to support a range of new funding programmes with meetings of the sector and evaluation of bids. We have worked hard to maintain strong links with charities across the borough and represent their interests with all our statutory partners. Our engagement with the Westminster Business Network, Westminster Connects and the Westminster’s Responsible Business Unit have all resulted in high levels of work to keep people informed and to develop strong partnerships and relationships.
A number of pieces of strategic work have involved the CEO alongside other VCS colleagues, playing a key role in representing and supporting the sector in its engagement with the North Paddington Programme, the local NHS, health engagement work at NW London level through our Third Sector Together partnership and at London level through London Plus.
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
This has involved attendance at many meetings and supporting colleagues across the sector to keep up to speed with the wide range of activities. Our health engagement has been hugely assisted by the recruitment of a BiBorough Voluntary Sector Health lead – Liam – employed with funding from Kensington and Chelsea Social Council. Liam has played a significant role in supporting the Vibrant Healthy Communities programme – whose aim is to bring an asset based, preventative approach into health delivery across the bi-borough area.
Internally, we have had a few staff changes and welcomed Natalie and Shirin into One Westminster, to work alongside Emma, Davide and Paola. With the increased demands on our VCS support work and the Westminster Responsible Business Unit and Business Network, we took the decision to terminate our Time and Talents work and concentrate all efforts on the Westminster Businesses referred to us by the Council team. This coincided with Quoc, who had delivered a fantastic job within Time and Talents, leaving us for a new role.
Our Volunteering team continued to provide a wide range of support to individual volunteers, to volunteer coordinators across the city and to Westminster Connects including our DBS service. The team also secured a new contract to sustain our work supporting adults with learning disabilities into volunteering and training and this service has really developed over the year.
Last but not least, our amazing Social Prescriber team, led by Shelley, has continued to work across the central Westminster footprint, delivering high quality SP services and broadening its work to help the wider agenda for improving health inequalities across Westminster.
A key piece of work led by Shelley has been to develop a stronger One Westminster Equalities, Diversity and Inclusion strategy and action plan. The work encompasses our own workforce, and our stakeholders and the community. Inevitably, this is a significant piece of work that is on-going and will take time to be fully implemented throughout the charity.
The Board of Trustees hosted an Away-Day during the year which resulted in the adoption of a revised Business Plan for the charity covering the period 2024-2026.
Finally, following many years of water leaks and mushroom growth, damp and general malaise at Chapel Street, a decision was taken with the City Council, that we should move to new premises. Thankfully, the ground floor large office space with adjacent kitchen was available within the Stowe Centre and the team moved in just after the beginning of the new financial year.
## **KEY ACHIEVEMENTS AND DELIVERY – 2023-2024**
## **Social Prescribing Service**
One Westminster’s Social Prescribing Service is commissioned by Central London Healthcare – the GP Consortium covering 4 Primary Care Networks in Westminster and Central North West London Healthcare (CNWL) the NHS Trust providing mental health services in the borough.
## **The SP service in numbers**
|**Primary Care**
**Network**|
**Regent’s**
**Health**|**St**
**John’s**
**Wood**
**and**
**Maida Vale**|
**South**
**Westminster**|**West End and**
**Marylebone**|
**Rapid**
**Response**
**North**|**Rapid**
**Response**
**South**|**TOTAL**|
|---|---|---|---|---|---|---|---|
|**Number**
**of**
**referrals into**
**SP Service**|
413|270|256|325|103|77|1444|
|**Number**
**of**
**referrals out**
**to**
**other**
**services**|
670|617|453|537|200|140|2617|
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
During 2023-2024, we had a staff team of up to 22 including a Head of Service – Shelley supported by 4 Senior SPs – Delphine, Amina, Alex and Grace. The team had 2 pregnancies and sadly had to close the Young Adult Mental Health SP service at the end of the year.
Early in the financial year, Shelley worked with the team to review their work and identify key strengths and weaknesses of the service. The process included anecdotal information received from the community and considered the current resources available locally, inequalities that were present, and the wider strategic context that the SPs operate within. The work resulted in the creation of a new working framework for their delivery. The Framework provides structure and consistency across the service for staff in how they deliver their service. It also provides clarity for people in the community around what they can expect from the service. Finally it has assisted in our communication to stakeholders and referral partners.
January 2023 also saw the introduction of the JOY database as commissioned by the NHS. All SP referrals are now made via this platform which also provides a firm evidence base for our work. Social prescribers have been able to share data between the team and adapt our workforce to respond to need.
## _Significant factors_
One Westminster continues to pro-actively identify gaps in services with the aim of strategically working towards filling these. Two key gaps identified this year have been access to free decluttering services and appropriate groups for males under 50. Work is already taking place to liaise with larger charities and seek funding to create a response to this. Another key aspect of the SP service’s work is an on-going attempt to ensure that our service plays its part in addressing the number one challenge around health in Westminster – namely health inequalities. The full team are committed to working alongside our wider Octopus partnership to find strategies to impact on this.
## **Support to VCS service**
The team now consists of 5 staff who work together to deliver a full range of services to meet the needs of the wider VCS in Westminster. The team undertook a lot of additional work this year, as a direct result of the local authority having so many more funding and other opportunities for the voluntary sector to engage with.
Work over the year also included supporting local VCS groups to apply for funds, identifying training needs and reporting back to the Council, undertaking one-off pieces of work including supporting the victims of flooding with small grants and reporting to the GLA on the use and needs of foodbanks.
## _Fundraising practices_
Finally, the team were responsible for identifying volunteering needs for individual and corporate support and for feeding this information back to the council for publication in Westminster Connects and Business Support information.
## Core work delivered included:-
- providing information and advice via our fortnightly e-bulletin and a regularly updated resources and fundraising sections in our website
- facilitating Community Network, Health and Wellbeing Network, Older People’s Network meetings
- providing one to one support and advice to organisations
- hosting meet the funder events
- working with charities to identify volunteering opportunities for individuals to be promoted through Westminster Connects and for Businesses to be promoted through the Westminster Business Network.
- · Creating partnerships between businesses and the wider voluntary sector
- Linking individual charities with fundraisers
- Participating in funding panels with Young Westminster Foundation and for the City Council
- Organisation one off meetings to support the dissemination of funding information or for consultation purposes
- Conducting an annual survey of the sector
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **The VCS Service in numbers**
|Updates to directoryof VCS organisations|**67**|
|---|---|
|New organisations added to database|**34**|
|Individual organisations supported|**145**|
|New or emergingorganisations supported|**15**|
|Networks and meetingthe funders events hosted|**16**|
|Number of attendees at events|**372**|
|e-bulletins and bulk information emailsproduced and sent|**33**|
|Cash donations secured from businesses|**£40,000**|
|VCS opportunities identified andpromoted through Westminster Connects|**168**|
|Business enquiries handled|**300**|
|Partnerships between businesses and VCS organisations created|**200**|
## **Volunteer Centre Service**
One Westminster continued to operate as a Volunteer Centre throughout the year, providing support, information and advice to individuals seeking volunteering opportunities. Alongside supporting people to register with Westminster Connects as a volunteer, the team regularly outreached into homeless hostels and the Job Centre to meet with more vulnerable adults and support them to volunteer.
The team worked with Westminster Adult Education Service to support the delivery of Introduction to Volunteering workshops and facilitated a Volunteer Coordinators Network providing training and best practice advice and support.
A favourite activity is our gardening days which provide a unique opportunity for a wide range of people to come together and support our environment. These days attracted corporate volunteers, social prescribing clients, adults with learning disabilities and staff and are always a highlight of the year.
## _Fundraising performance_
One of the highlights of our year was the first One Westminster Volunteers’ Fair in nearly 4 years. Held at the Stowe Centre in June, the event was attended by over 200 people with 28 Westminster volunteer involving organisations having a stand at the event. Feedback was very positive from both organisations and members of the public who attended. We continue to deliver one of the biggest Volunteers Fairs held in the borough.
## **Volunteer Centre Service in numbers**
|Numbers of volunteers recruited|**784**|
|---|---|
|Numbers of volunteersplaced|**443**|
|Outreach sessions topromote volunteering|**110**|
|Attendees at trainingsessions on recruiting,managingand retainingvolunteers|**32**|
|Volunteer coordinators attendingmeetings|**38**|
|Volunteer enquiries – by phone,email,face to face|**1080**|
|DBS – registrations for Westminster Connects and othersprocessed||
## **Adults with Learning Disabilities Volunteering Project**
One Westminster is very proud to be delivering our Volunteering Project for Adults with Learning Disabilities. This year we worked with 71 people and placed 26 of them with individual volunteering opportunities.
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
A key part of the work provided by the project, is the individual specialised support given by staff to the clients in helping them find an individual volunteer role. This included volunteering roles in charity shops, foodbanks, hospitals, museums and administration support.
We also provided social group and fun activities during the year which were vital in supporting the health and wellbeing of our clients, who have some of the poorest health outcomes in the city. Activities included visits to a number of museums, theatre shows, a film making project with a charity, an easter card making activity, watching a film with a live orchestra at The Royal Albert Hall and taking part in a sports day in Regents Park supported by corporate volunteers. On average at least 20 people attended each activity.
The team also organised 8 gardening days across the year attended by clients, corporate volunteers and Social Prescriber clients.
## **Financial review**
The Charity's income was £1,390,600 in the year ended 31st March 2024 compared to £1,379,143 in the year ended 31st March 2023. The total expenditure amounted to £1,297,794 compared to £1,321,454 in the year ended 31st March 2023. As at 31st March 2024 the Charity has general free reserves of £355,709, from a total unrestricted fund amounting to £355,709. Overall, the total fund balance carries forward as at 31st March 2024 was £355,709.
## **Reserves policy**
_Free reserves are defined as the net assets of the charity excluding those assets tied up in fixed assets or representing restricted funds. The stated policy of the Trustees is to set a target level of free reserves equivalent to three months future expenditure less amounts already held in restricted reserves. Free reserves as defined by Charity Commission guidance are equivalent to the charity’s general reserve which is deficit. The Trustees are fully aware of the urgency of building up a reserve and all efforts are in place to enable this._
_The Memorandum & Articles of Association provides that the charity invests monies not immediately required for its own purposes in or upon such investments, securities or property, as may be thought fit. At the present time the Trustees' policy is to maintain all such monies on deposits earning a market rate of interest._
## _**Small Company Exemptions**_
_Advantage is taken in preparing this report of the special exemptions applicable to small companies conferred by Part 15 of the Companies Act 2006 and in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities._
## **Structure, governance and management**
_Throughout the year, the organisation has continued to be led by Jackie Rosenberg on a part-time basis, seconded from Paddington Development Trust. A memorandum of agreement exists between PDT and One Westminster allowing for the secondment._
_This arrangement is meeting the needs of both organisations and is likely to continue for the foreseeable future._
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr M Ayres (Chair) Mr M Hazell (Treasurer) Ms C Botha (Appointed 5 October 2023) Ms E K A Fritz Ms P Fudlalla Ms S Annis Ms N Lakhdar Ms K O'Donoghue Mr E H K YEO Ms H Nightingale (Resigned 15 June 2023) Ms H Taheri
(Resigned 15 June 2023) (Resigned 22 March 2024)
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Statement of trustees' responsibilities**
The trustees, who are also the directors of One Westminster for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose 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.
## **Auditor**
In accordance with the company's articles, a resolution proposing that Critchleys Audit LLP be reappointed as auditor of the company will be put at a General Meeting.
## **Disclosure of information to auditor**
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.
The trustees' report was approved by the Board of Trustees.
.............................. Mr M Ayres (Chair) **Trustee**
Date: .............................................
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ONE WESTMINSTER**
## **Opinion**
We have audited the financial statements of One Westminster (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with 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 charity 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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ONE WESTMINSTER**
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
- the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
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 trustees' report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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 extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ONE WESTMINSTER**
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- reviewing relevant correspondence.
There are inherent limitations in our audit procedures described above. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Robert Kirtland (Senior Statutory Auditor) for and on behalf of Critchleys Audit LLP**
.........................
**Chartered Accountants Statutory Auditor**
Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
5,842
750
Charitable activities
**4**
250
1,323,867
Other trading activities
**5**
32,928
26,925
Investments
**6**
38
-
**Total income**
39,058
1,351,542
**Expenditure on:**
Charitable activities
**7**
282,457
1,015,337
**Total expenditure**
282,457
1,015,337
**Net income/(expenditure)**
(243,399)
336,205
Transfers between
funds
355,864
(355,864)
**Net movement in**
**funds**
**9**
112,465
(19,659)
**Reconciliation of funds:**
Fund balances at 1 April 2023
243,244
19,659
**Fund balances at 31 March**
**2024**
355,709
-|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
6,592
2,264
779
1,324,117
12,776
1,294,749
59,853
66,733
1,828
38
14
-
1,390,600
81,787
1,297,356
1,297,794
30,939
1,290,515
1,297,794
30,939
1,290,515
92,806
50,848
6,841
-
-
-
92,806
50,848
6,841
262,903
192,396
12,818
355,709
243,244
19,659|**Total**
**2023**
**£**
3,043
1,307,525
68,561
14|
|---|---|---|
|||1,379,143
1,321,454|
|||1,321,454|
|||57,689
-|
|||57,689
205,214|
|||262,903|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**16**
**Net assets excluding pension liability**
**Net assets**
**The funds of the charity**
Restricted income funds
**18**
Unrestricted funds|**2024**
**£**
98,927
320,277
419,204
(73,712)|**2023**
**£**
**£**
12,865
155,299
229,440
384,739
(127,105)
345,492
358,357
(2,648)
355,709
355,709
-
355,709
355,709|**£**
7,917
257,634
265,551
(2,648)
262,903
262,903
19,659
243,244
262,903|
|---|---|---|---|
The financial statements were approved by the trustees on .........................
.............................. Mr M Ayres (Chair) **Trustee**
Company registration number 02052268 (England and Wales)
- 11 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Notes**
**Cash flows from operating activities**
Cash generated from/(absorbed by)
operations
**22**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net increase/(decrease) in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
(8,764)
38|**£**
99,563
(8,726)
-
90,837
229,440
320,277|**2023**
**£**
**£**
(153,268)
(5,112)
14
(5,098)
-
(158,366)
387,806
229,440|
|---|---|---|---|
- 12 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is:
37 Chapel Street London NW1 5DP
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
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. The principal accounting policies adopted are set out below.
## **1.2 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.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **1.4 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
- 13 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
Resources expended are allocated to the particular activity where the cost relates directly to the activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of staff time attributable to each activity.
Grants including grants for the purchase of fixed assets are recognised in full in the Statement of Financial Activities in the year in which they are receivable. Income is deferred when received in advance of the period to which it relates
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Straight line over the life of the lease Furniture and equipment 33.33% on cost Computer equipment 20% on cost
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 the statement of financial activities.
## **1.7 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).
## **1.8 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 overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
- 14 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **1.9 Employee benefits**
The charity participates in a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.
## **1.10 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **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 estimates and 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 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
5,842
750
**Income from charitable activities**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Grants
250
1,323,867|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
6,592
2,264
779
**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
1,324,117
12,776
1,294,749|**Total**
**2023**
**£**
3,043|
|---|---|---|
|||**Total**
**2023**
**£**
1,307,525|
## **4 Income from charitable activities**
- 15 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **5 Income from other trading activities**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Property rental income
12,819
-
Time and Talent
17,854
-
Sundry income
2,255
26,925
Other trading activities
32,928
26,925|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
12,819
7,101
700
17,854
55,772
-
29,180
3,860
1,128
59,853
66,733
1,828|**Total**
**2023**
**£**
7,801
55,772
4,988|
|---|---|---|
|||68,561|
## **6 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Interest receivable|38|14|
|**Expenditure on charitable activities**|||
||**Charitable**|**Charitable**|
||**expenditure**|**expenditure**|
||**2024**|**2023**|
||**£**|**£**|
|**Direct costs**|||
|Grant funding of activities|18,206|214,180|
|**Share of support and governance costs (see note 8)**|||
|Support|1,279,588|1,107,274|
||1,297,794|1,321,454|
|**Analysis by fund**|||
|Unrestricted funds|282,457|30,939|
|Restricted funds|1,015,337|1,290,515|
||1,297,794|1,321,454|
## **7 Expenditure on charitable activities**
- 16 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **8 Support costs allocated to activities**
|Staff costs
Depreciation
Staff related costs
Other charitable costs
Premises Ccosts
Bank Charges
Bad debt provision
Consultancy fees
Volunteer expense
Sundry expense
**Analysed between:**
Charitable expenditure
**9**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets|**2024**
**£**
1,013,749
3,817
64,569
-
92,976
1,559
3,303
88,228
2,207
9,180
1,279,588
1,279,588
**2024**
**£**
6,720
3,817|**2023**
**£**
935,967
7,109
15,702
13,549
69,553
2,401
7,400
38,347
11,754
5,492|
|---|---|---|
|||1,107,274|
|||1,107,274|
|||**2023**
**£**
5,490
7,109|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **11 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**Number**
32
**2024**
**£**
910,372
79,877
23,500
1,013,749|**2023**
**Number**
31|
|---|---|---|
|||**2023**
**£**
841,246
74,568
20,153|
|||935,967|
- 17 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **11 Employees**
**(Continued)**
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|38,394|36,650|
## **12 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **13 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Furniture and**
**equipment**
**Computer**
**equipment**
**£**
**£**
**£**
**Cost**
At 1 April 2023
15,466
26,852
121,244
Additions
-
3,142
5,622
At 31 March 2024
15,466
29,994
126,866
**Depreciation and impairment**
At 1 April 2023
15,466
25,008
115,170
Depreciation charged in the year
-
1,053
2,764
At 31 March 2024
15,466
26,061
117,934
**Carrying amount**
At 31 March 2024
-
3,933
8,932
At 31 March 2023
-
1,844
6,073|**Total**
**£**
163,562
8,764|
|---|---|
||172,326|
||155,644
3,817|
||159,461|
||12,865|
||7,917|
|**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**2024**
**£**
98,927
-
98,927|**2023**
**£**
144,820
10,479|
|---|---|---|
|||155,299|
- 18 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**15**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income
**16**
**Creditors: amounts falling due after more than one year**
Other creditors
**17**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
7,822
32,340
33,550
73,712
**2024**
**£**
2,648
**2024**
**£**
23,500|**2023**
**£**
174
42,030
84,901|
|---|---|---|
|||127,105|
|||**2023**
**£**
2,648|
|||**2023**
**£**
20,153|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
## **18 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|Learning Disability Volunteering
Volunteering Organisation
Development Support
Council for Voluntary Service
Social Prescribing Link Worker
Project
Community Navigator (Funder
CNWL)
Primary Care Network Social
Prescribing (Funder CLH)
Mental Health Social
Prescribing (CNWL)
Food Partnership Programme|**At 1 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
-
24,000
(6,766)
1,615
245,650
(119,518)
8,576
312,080
(152,448)
-
10,916
(73,095)
-
58,334
(33,663)
9,468
520,312
(431,809)
-
167,050
(191,288)
-
13,200
(6,750)
19,659
1,351,542
(1,015,337)|**Transfers**
**At 31 March**
**2024**
**£**
**£**
(17,234)
-
(127,747)
-
(168,208)
-
62,179
-
(24,671)
-
(97,971)
-
24,238
-
(6,450)
-
(355,864)
-|**Transfers**
**At 31 March**
**2024**
**£**
**£**
(17,234)
-
(127,747)
-
(168,208)
-
62,179
-
(24,671)
-
(97,971)
-
24,238
-
(6,450)
-
(355,864)
-|
|---|---|---|---|
||||-|
- 19 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**18**
**Restricted funds**
**Previous year:**
VCS Small Grants Programme
Befriending Plus
Learning Disability Volunteering
Volunteering Organisation
Disability Support
Council for Voluntary Service
Social Prescribing Link Worker
Community Navigator (CNWL)
Mental Health Social
Prescribing (CNWL)
Primary Care Network Social
Prescribing (CLH)
Mental Health Social
Prescribing (CNWL)|**At 1 April**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
-
235,610
(235,610)
12,818
3,333
(16,151)
-
20,230
(20,230)
-
147,473
(145,858)
-
216,344
(207,768)
-
5,550
(5,550)
-
74,000
(74,000)
-
145,250
(145,250)
-
371,636
(362,168)
-
77,930
(77,930)
12,818
1,297,356
(1,290,515)|**(Continued)**
**Transfers**
**At 31 March**
**2023**
**£**
**£**
-
-
-
-
-
-
-
1,615
-
8,576
-
-
-
-
-
-
-
9,468
-
-
-
19,659|
|---|---|---|
The purposes of restricted funds are as follows:
- Learning Disability Volunteering - Helping to support those with Learning Disabilities to find volunteering roles in the community.
- Volunteering Organisation Development Support (VODS) - The VODS team run the Volunteer Centre throughout the year, providing support, information and advice to individuals seeking volunteering opportunities.
- Council for Voluntary Service - Organisation Support Service - CVS (VCS) - Identifying volunteering needs for individual and corporate support & supporting local groups to apply for funds, identifying training needs, and reporting back to the Council.
- Social Prescribing Link Worker Project - SPLW - Social Prescribing Service is commissioned by Central London Healthcare – the GP Consortium covering 4 Primary Care Networks in Westminster & Central North West London Healthcare (CNWL) the NHS Trust providing mental health services in the borough.
All sections below form part of the SPLW service:
- Community Care Navigator - (Funder CNWL)
- Primary Care Network - (Funder CLH)
- Mental Health Social Prescribers - (Funder CNWL)
- 20 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **19 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|---|
|||**2023**|**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|Designated Funds||3,379|-|-|9,486|12,865|
|General funds|239,865||39,058|(282,457)|346,378|342,844|
||243,244||39,058|(282,457)|355,864|355,709|
|**Previous year:**|**At 1 April**||**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|||**2022**|**resources**|**expended**||**2023**|
|||**£**|**£**|**£**|**£**|**£**|
|Designated funds||5,378|5,112|(7,111)|-|3,379|
|General funds|187,018||76,675|(23,828)|-|239,865|
||192,396||81,787|(30,939)|-|243,244|
|**Analysis of net assets between**|**funds**||||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
|**At 31 March 2024:**|||||||
|Tangible assets||||12,865|-|12,865|
|Current assets/(liabilities)||||345,492|-|345,492|
|Long term liabilities||||(2,648)|-|(2,648)|
|||||355,709|-|355,709|
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2023**|**2023**|**2023**|
|||||**£**|**£**|**£**|
|**At 31 March 2023:**|||||||
|Tangible assets||||7,917|-|7,917|
|Current assets/(liabilities)||||237,975|19,659|257,634|
|Long term liabilities||||(2,648)|-|(2,648)|
|||||243,244|19,659|262,903|
## **20 Analysis of net assets between funds**
- 21 -
**Draft Financial Statements at 19 July 2024 at 12:18:45 ONE WESTMINSTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
|**22**
**Cash generated from operations**
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
(Decrease) in creditors
**Cash generated from/(absorbed by) operations**|**2024**
**2023**
**£**
**£**
92,806
57,689
(38)
(14)
3,816
7,109
56,372
2,250
(53,393)
(220,302)
99,563
(153,268)|
|---|---|
## **23 Analysis of changes in net funds**
The charity had no material debt during the year.
- 22 -