Charity re￿$tra￿On number: 502610 ACCOUNTING PERIOD DA-IA REFRE,SH REQ.ulliED Selecl Ilie R¢FJ'&sh button oil the Sunimary or l)isclosui'e tab The Charnwood Trust Annual Report and Financiat StateD￿nts for the Year Ended 31 August 2024 McKelleng Ltd Chartered Accountants 11 Riverview The Embaukment Business Park Vale Road Heaton Mersey Stockport SK43GN The C'harnJTood Trust Contents (continued) R8forence and Ad￿Ju1Str&tivO Detiils Tr￿lees, Report 2to6 Statement o£Trus¢¢¢s' Responsibilities Indep￿deAlI Exwninels R¢porl Statement of Ftnancial Activities 91DIO Balance Sheet Cash Trlow Statemwl 12 Notes to the Fitmnctal Statemonts l3to24 The Charnwood Trust Reference and Administrative Details Trustse8 A Qrayston¢ J. Baker S. Crane N. Lawrinson S. Fornia G.A. Mlhitaker L.M, Fay C Carr.Deed S. Ferns - gppointed 06 May 2025 502610 Charlty Regi$trA*ion NMnth¢r Pi'in¢xpAI Offit¢ St Paul's Road Sto¢kport Cheshire SK4 4RY Indopendent Ex#mlner McKelleDs Ltd Chartered Accountants I I ￿yo￿l¢W The Embmkment Busitie￿ Park Vale Road Heaton Mersey Stockport SK43GN The C"harnwood Trnst Trustsesl Report Tho trustees of the Charnwood Tn￿ (Reg no. 502610) ptesent their atmual Teport together with the f￿anCial statements of th¢ ch￿lty foT tho year wded 31 August 2024. The Board of Tn￿te¢S administer the Chamwood TNst support the senior leadership tw who manage the tharity from ddy to day, Objettives The principal objectives of the Trust are set out in the Charity's trnst deed. Our values gtem from the Christian belief that every individual is uniquely created and valued, and that evory individual Child learn and ontribute to society, Th¢ TnL8t aims lo,. promote the phystcaL nwital, emotsonai and SwritU￿ ￿l*are ot'chilthen provide inclusive nursery school edwation ¢sp¢¢ialty for thildron with sp￿1￿1 needs provide help and support for their familie5 den]on8trate the Christian faith in action Tkne focus Ibe Trusl's inclusi4)ll agellda has always be¢0 Lo piovide holistic SUPPOI'I 10 dIsadV￿lI￿ged yowkg children ￿ their families. Disadvmtaged children learn ajongside their peers. onco aBain it has been humblkng to wilness the car¢ and friendship established betwoen the cl)ildren. Disadvantaged children at ChaTnwood are those with addition81 support needs because of Special EducationBI Needs. other disability OT edical conditions, and other children are devolopmentally delayed because of social di8advantsge' Ilje ttustee8 anticipate that this will continue to be a n￿Jor factor in future ￿tiVIty, There 18 clear evidenfj? from research that providing for pro-sthool children has a significant impAct oll improving future s¢hool a¢hievenJent and the overall life chances of children from less a(fvantaged environments. Strntture, Governance and ManagenMIt The tm8tees m¢et together as a board usually eath h41f tsrni and occasionally for extra meetings about specific issues. In addition, individllal trustees participato In various activities and projocts contributing towards the vK>rk of th¢ charity. Th¢ truste¢s give th¢ir tim¢ fr¢¢ly, and r¢¢eiv¢ no remun¢ration or other f￿anCIaL benefits. Existing tru5ts¢s are r¢sponsiblo for the rec￿ltment of now trustees. and iho pres¢nt board in¢ludes some Thith urrellt w)d past teathitig experien¢4 some with experience in the Local Authority. faith or charity sector divor￿ p￿fe%810n￿l backgrounds (including in finance Mnd adn)inistratffton)' one is a recent Charnwood par￿1, and others have been in the past. All aTr people of faith from a range of Christian churchos, and have a knowledge and understanding of the issues facing parents with young thildren, and an insigbt into the added pressures where tb¢r¢ is a thLld wtth extra support needs. The trustees have sought to tormaknse and a&sigo specific trustee roles and responsibiliti0s during th¢ yoar. On 23 January 2024, we We￿ delighted to welcome Cath Carr-Deed (fornier Chlmwood Head of Education) to the Board o£Tiustees. We are greatly appreciating the contribution the is n￿ing and wealth of experience 5th¢ brings. Pag¢ 2 The L'harnwood Tn￿t TTUStees' Report (Continued) Subs¢qu¢nt to the year-¢nd. the truthes are pleased to welcome Susan Ferns as a new trust¢¢. The ITUst0￿ look fonvard to Susan's colltributions, including adding further depth io the financial ¢xperAence within th¢ trustees. During the year Jill Dring, our Head 0£Educatio￿ handed in her resignation, but remainod at Chamwood for th¢ full year. The truste¢s wish to express thoir gratitude to Jill for all that she did personally to advance the Clwnwood ethos and sphere of infiuence for sood. During Jill's lenure as Head, Chamwood was rightly re-reo)gnised by OFSTED as 'outslanding'. We wisb Jill all the best in hor new p05itio Jill had been ably supported tI￿oUghout tsnure by Suzaonah Gleav¢s - Deputy He&d I SENCO. We wer delighted that Suzaunah weed to take up the post of Ading Head Teacher effective from l August 2024. Thls creatsd a vacancy for & new acting Deputy Head / SENCO. The tn￿te¢S Nre also ploased to re￿rt tI￿t Beth Wilsh&w was promoted from withill the Charnwood slaff family. taking up this role *)n I Sept¢mber 2024. Also during the year. in May 2024, Juli¢ Nowell l¢fi her position ￿ Business Manager. The tsustees thank Juli¢ for her cnntributioni Julie rom2ined a paiqinnats advocate for C.harnw(Jod throughou( offerin8 h￿d0Ver assistance evth atler she left with respect to the filing of the Previous year's Annual Retum and Annual Report and Financial Statement to the Cbarity Commission, Chamwood operated without a Business Manager for the remainder of the fjnallcial year Although we were pl¢￿ed to appoint a new Business Manager, starting I September 2024. The gapped Business Mauager position for the final quwtsr of the yeat puÉ substtu)tial ￿[¢5$ on & stretthed team. Many people shared the load but the trusleos WAsh to thank particulady Michelle Long, Fin4nce & HR 0ffi¢or. Vanessa Orr - Family Support Lead, continu&% a8 highly experienced and valued thember ot the SetllOT LKadership TeanL Along with other menjbers of the s¢nior leadership team. Vanesso consistently goes above and beyond in her care and support for Chamwood children and their famili0& Aer05s tho y¢ar we had a total of 51 employ¢es (equating to 29 full tim6 equivalents), broadly ¢onsistent with the prior year (redwtion of one fidl time equivalent due to £w)ed positions) - these include the 4 nwnbors of the senior leadership te￿ nursery floor and opportvnity Broup thff, lunchtits￿ staff. admin and other Site support Rl8k Mallagen￿t In the charity, the trustees bavo due regard for th¢ Cbarity Commissi(yn guid￿¢¢ on public ben¢fAt. They re¢ognise that public policy provision continues to be in a state of significant cbange, and their intmtion has been to ensure the Trust IB robus¢ fit for pu4)ose. and abl¢ to respond to changing circumstances. To this end the trustees n)aintain a ri5J£ registor, tbrough ithich the major Areas of risk to which the Chamwood Trust is eX￿ed are systematically scrutinised over an atlnual cycle. The trustees have considered those ri8ks and appropriate steps to mitigale where they cen. Universal earfy years free entitlement (FE) feas for 15 or 30 nursery hours each continued to be a major sowce of income for th¢ TrusL These ar¢ paid on th¢ basls of occupancy. Unusually foi C'lwnwoo(L places at the nursery ￿tre not fully subscribed for the opening tsnn alt1￿Ugh dwing the year, this substantially returned to dose to full oc¢upaucy. Chamwood's provision accommodate5 this, wl]ile at the same time seekitig to maintain a family focussed per8pective where children and paTents have the opportunity for time together. P&ge 3 The Lharnwood Trust Trustees, Report (continued) One aTea of risk that the trustees continue to be mindful 0£ tslates to dependence ort & single 8our¢e of income. For the provision of nursory plaeeg for children with special needs attd additional sorvicas it provides beyond the H¢aton Moor nurs¢ry sotting. Chan)wood continued to receive additional Local Authority funding in Addition to talldard FE fees. We ten￿1n conscious of the single source of income risk, especially in the context of not having this agreed more than otte ac*&mie year in advance and funding that is effectiV01y static or ttot incTeasing in line with w￿8 and other cost infiation. We continue to explore other incomé opporti￿1tieS. Aetivllies To achieve its objectives, the Tmst threctly provid¢8 sorvices Atselt and seek5 to infiu¢n¢e the provision oftered to Ghildren and families who do not us¢ Chamwood servAces. This yoar. Chamwood continued to run a nursery yehool family centre in the Heaton Moor area of StockwrL In our nursery 8¢ttings. the Trust aims to support the development of Qach child's full potsnlial by providing centres of excellence that deliver the highest quality nurs8ry education alld family support. and Nthich call also be a re.ferw¢e point for other providers. The provision thTOU8h the Heatom Moor nuT80ry this past ye.ar included an inclusive Nursory sch{￿1, additional physi ¢haTities requires the trustses to prepare financial statonmts for each financial year ￿1¢h give a true ond faiT view of the stats of affw'rs of the ¢harity and of the incoming resources aud applicatton of resources of the charity for that perio(L In prep￿ill￿ these fmancial statements, the tNStees are required to.. Solect suitable acrJ)unting policies and then appIy them consiSt￿tty. observe the metho(L8 principles in the Charitt'es SORP. make judgements estimates that are reasonable and prndent. state whether applicable accounting standards have been followed, subje¢t to ony material d¢partu￿S disc105ed and explained in the fmancial stalements. and prep&re the financial statements on th8 going concern basis unloss it is inappropriate to pr¢sum¢ tbat the charity will continue in business. The trLtste¢s are Tesponsible for keeping proper accounling records that disclose ￿ reasonable a¢¢wa¢y at any time the fin8n¢Aal pogition of the tharity and enable them to ensure that the fmancial statements comply with th¢ Charities Act 2011, the awities (A¢eounts &lld Reports) Reguialions 2008, and the provisions of the cimstitution. The Irustseg 4re also responsible for 5afeguarth.ng the &8sets of th¢ ¢hority and hell￿ for laking reasong4ble steps for the prevention and detsction of fraud and other irregularities. Tho trustees Are responsible tor tho maintsnari¢e and llrtognty Ot the corporats and titiancial infornwtion included on the charitable coMp￿￿S website. Legislation governing the prsparation and dissemination of fmancial statements m&y diffor from legislation in other jurisdictions. Approv￿ by the tru8tses of the th￿tty on ... SI￿0d on its behalf by.. Grayston¢ TTh￿tee N. Lawrit)s( Trustee Page 7 The C'harnwood Th￿t Independent Examiner's Report to the trustees of The Charnwood Trust I report to the trustees on my examination of tho accoutts of The Chamwood Trust for the year ended 31 Augwqt 2024. Re$ponslbllilles and ba818 of report As the charity trustees of The Chan)wood Trust you are responsible for tho preparation of the ac¢outhts in accordance with the requiremants of the Charities Act 2011 ('the Act.). I roport in respect of my wAamination of th¢ Th¢ Charnwood Tntst's awx)unts Gatried out WLd¢r Section 145 of the 2011 Act and in oarryitig out examination I hw¢ followed all the applicable Direction5 given by d Charlty Con)missiou under ￿tiOn 145(5)(b) of the Act. Indepelld￿t examiner's statement Sin¢e Th¢ Chamwood Trust'y gross income exceeded £250.000 your ¢xamirt¢r must be a ffi¢mber of a body listed in section 145 of the 201 l Act. I confirni that I am qualified to undertake the examinati¢)n because l am a member of McKelleDs Ltd. which is one of the listed bodies. I have wmpleted my examinatioTh I contim] that no mAteTial matters have come to my attention in connecti( with the examination 8iving me cause to believ¢ that in any matsrial respect.. l. aC￿)ullting records were not kept in r￿pect of The Chamwood Trust as required by section 130 of the Act" 01 2. the accounts do not accord with those records. or 3. the a¢coutrts do not comply with the accOutttll￿ requirements concerning the torni corttent ot a¢counts 8et out in the Charities (AccnDnts and Report8) Regulations 2008 other than any requirement that the a¢LY)unts give a 'true and fair view which is not i matter consÈdered 88 part of an independent examitiation. I hav¢ no ¢on¢¢nu and Iwe wme acro$$ no oth¢r matt¢ts in connection with the ¢xamination to which attention should be drawii iAi il)iS iepoil UftiOJ' thiable a piopw U￿d￿￿1£￿1s&tI)S orth¢ accowils lo be r￿1}l￿1. Paul Roper M￿K￿lI￿ Ltd Chartored Accountants I l Riverview The Enthankment Busiiiess Park Vale Road H￿toll Mergey Stoekport SK4 3GN Page il The Charnwood Trust ststement of Financial Actlvitiey for the Year Ended 31 August 2024 Total 2024 Regtrieted riots Incony and EndowDwnts froni: Donations and le88¢ies Charitable 8¢tivities Other trading activities Invostmellt incoille Other income 26,735 806,132 9,808 1,076 1.325 28.060 806,132 9.808 1,076 Totsl in¢(rn¢ 853 751 1,325 855,076 xpenditure on: RaÈsing knds Charitable acttwtt&¥ (549) 948 030 (549) 949J85 Total expenditure 948,579 1.355 (949.934 Net movement in fundB (94,828) (30) (94,858) Re¢on¢lliY4don of fvnds Total luuds brought tOTward 719,479 4.741 724,220 Tot￿ funds carried forward 18 624 651 629,362 The noles on pagos 13 to 24 tomi an inte￿1 part of these littancial statsttwits. Page 9 The Lharnwood Trust Statsment of Financial Activities for the Year Ended 31 August 2024 (continued) Total 2023 UDrestrieted RestrAeted ot¢ tM¢ome and Endowments from: Donations and legaci CIwitabl¢ artiviti¢s Other trading activitles Inv*)skniellt ia¢OAne 66,658 763,389 9,197 184 3.308 69,966 763.389 9,197 184 Total in¢om¢ 839 428 3.308 Expendlture on: Raising fLnds ch￿Itable activities Other sxpemthture Totsl expenditure Net movement in funds (674) (903.605) (674) (906,818) 125 (3.213) 904,404 3,213 907,61 (64.976) 95 (64,E81) Reconeiliatlon of fuDds Total funds brought forward 784,455 4,646 789 101 Total funds carried forward 18 719479 4.741 724,220 All of the charity's activities derive from continuing operations thjring the above twr) periods. The fmds breakdown for 2023 is shown in note 18. Thv fjotes thi pages 13 to 24 forni an intsgral part ot th¢se fJnancia] statements. Page 10 The Lharnwood Trust (Registrntion number: 502610) Balance Sheet as at 31 August 2024 2024 2023 Note Flxed agsets Tangible assets Current assets Debtoi Cash at bank and in hand 13 526.036 539,664 14 15 6,225 121,314 117,460 96.216 127,539 213,676 Creditors: Am(Junts falling due within one year Net current assets 16 24.213 103 326 184.556 Net 485¢ts 629 362 Funds of the charity: Re$trieted Intonw fwids Restricted funds 4,711 4.741 UnTrstiietsd illcon￿ funds Ullrestri¢ted funds 624,651 719.479 To141 futtds 18 629.362 724,220 The t"tn8n¢i8J statements on pages 9 to 24 w¢re approved by the trustees. and authorised tcjr ts$us on . and signed on their behalf by: Trustee N. Lawrinson Trustee The notss on pages 13 to 24 forni an intsgral part o& these fin&n¢ial statemenlg. Page 11 The Lharjnyood Trust Cash Flow Statement for the Year Ended 31 August 2024 2024 2023 Nolt Cash llows from operatlng 4clivAtie8 N6t cash expenditsre Adjustn*nts Io cash Ilows from non-tash Atem8 DepTeciation Investment in¢ome I￿$$ on disposal of tallgibl¢ fix¢d wets (94.858) (64,881) 17,361 (1.076) 16.262 (1 $4) 6.206 (78.573) (42,597) Worlong capital &ilJuStn￿nts Decrease/(itJ¢r¢ase) in d¢bkn'8 lu¢￿¥¥￿3￿)[JnLiwe in LY¥diknT Net cash flows from opernting activitie$ Cash floTVS from Investing féctivities Interest receivable and similar income Ptwchase of t4ngible fix¢d assets Net cash tlows fro￿ investing activities Net In￿¢￿Se/(deere&So} in cash and eash oquivaients Cash and cash equivaleths ai i September Cath and ¢ath ￿U1ValeTrts at 31 August 14 16 111.235 (93,467) 27,755 120.786 1,076 184 13 2.65 25.098 (136,579) 232,795 121,314 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 13 to 24 fonn an intsgrai part ot these tinallcial statemants. Page 12 The Charnwood Trust Notes to the Finallcial Statements for the Year Ended 31 August 2024 l A¢￿Vilts11g polAeles Statement of compllauee The fmallcial statements have beell prepared in ac¢oTdallce with Accounting and Reporting by Charities.. Statement of R¢¢omm¥nded Practice applicable to charlties preparing their a¢¢ounts in accordatlca with the Financial Reporting Standard appli￿1¢ in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Stattdard appltcable in the UK and Republic of Irel&lld ￿Rs 102) and the Charities Aot 2011. asls of prep4rntion The CharnwDod Trust tneets the definition of a public benefit elltity undor FRS 102. The accounts (financial statsments) have been prepared the historical cost convention with items re¢oBnised at cost or transaction Value ￿lesS otherwise stated in the r¢levant note(s) to these ￿coUnts. Golng eoncern The Irustees consider that there are no Mat￿la[ uncertainties about the thwity's ability lo continue as a going ncem. ¢ollte wid endowments Voluntsry in¢onw incli￿]ng donation4 gjm l¢ga¢i¢s and grants that Provide core funding or aro of a general nature 15 recognised when the charity has entitleM￿t to tbe incom4 it is probable that the income will be received and the amount call be me&8ured with sutYi¢ient r¢liability. I)onqlioNs anAlegoc¢e Donation8 and legaaes are rocogwsed on & re¢eivable basis ￿en receipt is pmbable and the an￿Ullt can be reliably measured. Grants are recognised the tharity an entitlement to the funds and any conditions linked to the grants have been met. Where perfornwice eondilÈons are attached to the want and aro yet lo be me¢ tho in¢ome is reco8nis¢d as a liability and induded on thé balance sheet as deferr¢d inrA)Jne to be released. G'¥ls in kind Gifts in kind aTO recogDAsed in difforollt ways dependent on how they are used by the charity: (i) TtLose donated for resale produce income whffi) they ar¢ sold. They are valued at the amount actualty r¢alis¢d. (li) Thos¢ donated for onward transmission to beneficiaries are included in the Statement of Fin￿¢1&1 Activities &s in¢on)ing reSoUr￿S and rasources expended ￿en they are distn'bufrd. They are valued at the amowit the charity wDuld have had kn pay to a¢quire th¢nL (iii) Th03¢ donated for use by the charity itself are includ¥d when Teceivable, They are valued At the an￿Ullt the charity w)uJd have had to pay to acquiro them. Page 13 The Charnwood Trust Notes to the Finaneial Statements for the Year Knded 31 August 2024 (continued) xpenditJ-. All oxpandikne is reco￿lS¢d once there is a legal or r￿StruCtive obli8ation to that expenditure, it is probable settlement is required alld the amount can be measured reliably. All costs aro allocated to the applicable expthditure heading that ag￿egate similar costs to that category, Where costs cannot be direedy attrlbuted to particulaT headings they have b¢¢n allocated on a basis consistent WAth the use of resour¢es, with central staff costs allocated on tho basis of timo spen¢ alld depre¢ialion chaTges allocated on the portion of the asset's use. oth￿ support eosts are ￿lOca￿d bas¢d on the SPT¢ad of staff costs. R41sthgfund¥ These are costs incurred in attracting voluntary income, the mwem¢th of inVestn￿nts and those incurred in tTading activities that raise funds. Chapillthle liclivldes ChaTitable ¢xp¢nth'ture comprises those costs incurred by the charity in the d¢livery of its activities and sejvicas for tts boneficiaries. It includes both costs that cgn be allocated directly to such activities and those costs of an itidirect nature necessary to support them. Support costs Support costs includ6 central funrtions wd have been alltuted to activity ¢ost cthgories on a basis consistent with the use of resource4 for exampl@ ￿lOcatIllg pIopety costs by floor aroas. or per capiti staff costs by the time spent and Othor costs by their usage. Goyernanee costs These include the costs attributsble to the oharity's compliance with constitutional and Statutory r¢quirem¢nts, irjtr1-￿dlng audiL strategic nwia8ement and trustees meeti￿) and reimbutsed expens¢s. Taxation The charity is considered to pass th¢ tests set out in Parngraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defjnition of a charitable company for UK corporation purposes. Accordingly, the charity is potelllially exempt from tLYation in reSp￿t of in¢omtr or c&pital gains Teceived within catsgories covered by Chaptsr 3 Part I l of the Corporation Tax Act 2010 or Sectson 256 ot th¢ Twitson of Chargeable Gains Act 1992. to the extent tbat suth incom¢ or gains are applied exclusively to ¢haJitable purpos8s. Tanglble r￿ed assets Jndividual fixed ￿ssets costing £500.00 or more ate initially recorded at cost, less any Bubsequent accumulated depreciation and subsequent a¢¢umulated impaimient losses. Dtpretiation and anjortisation Depreciation is provided on tangtble fixed &8sets so as to wrAt¢ off the cost or V8IUatio￿ less any estimafrd residual valu¢. over th¢it eApe¢tcd useful economic life. The depraciatiott rates are as follows., Asset da FIXtur￿, fittings and equiprnent Lw]d and buildings Depreciation method and rats 25 /0 stratgbt line 21/10 $traigbt line Pago 14 The Lharnwood Trust Notes to the Financial Ststements for the Year Ended 31 August 2024 (Continued) Th'&de debtoi's Trade debtols are amounts duo from Custom￿ for the￿1￿]diS¢ sold or seTVAces perfonn8d iti the ordinary course of business. Trade debtors ore recognised initially at the transaction priv. They are subsequently measured at amortised cost using the effoctive interest motho(L 18ss provision for imp41Tn￿nt. A provtsion for thts impairment of is established Th&en there is ob_iective evidence the will not be ablo to collect all amounts du¥ according to the original tsrm5 of the receiv4bl¢s. Ca8h and tash equivalents Cash and cash equiYalent5 Comprise cash on hand and call deposits and otber short-tetm highly liquid investments that are readily convertible to a known amount of cash 8nd are subject to an insiEnifi¢ant risk of hange in value, Trnde credltors Trade crediitors are obligatAons to pw for goods or services that hwe been acquired in the Ordin￿ course of busin0&8 from supplieTS. Accounts payable are classified &s current liabilities if the doe8 not have an unconditional right. at the end of the reporting p￿10￿ to defer settlement of the creditr)T fot at least twelve nx)nths after the reportmg date. If there is an Un￿t￿l￿Onal right to deeeT settlenwnt for at least twelve months after the reporting date, they are Presented &8 non-current liabilities. Trado ¢r¢ditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest metho(L Vund $truetuir Unrestrtcted Income fimds are general tunds that aTe available for use at the trustees discrelion in furtheranc6 of th¢ objectives of the dwity. Ragtricted income fi￿d$ are those donatsd for use in a particular area or for spe¢ifi¢ purposes, the use of ￿1¢h 18 restricted to that area or purpose. Penslons alld other post retirement obfigatloM8 Th¢ charity operates a defined contribution pen8ion stheme th¢h is a pension plan under which fixod c<)ntributions p&td into a po]Jsion fund and the chaTity has no legAI or rA)nstruGtive obligation to pay furtber contributions ev¢n if tho fund does not hold sufficient assets to pay all employees the benefits r¢lating lo employee service in the current and priorperiods. Contribution5 to dcfined contr.bution plans arc rccogniscd in thc StatCiT,¢nt of Financial Activitics th¢y aic due. ￿cOntribution payments exceed the ¢ontribution due for service. the excess i8 recognised as a prepayment. Flnaucial iustrunxents (1￿￿1fICa1iOll Financial assets and fman¢ial li3bilitie3 are recognised when th¢ charity becomes a party tts tho conttaGtual provisions of the ingtrLllnent. Financial liabilitie5 and equity instrumallts are classified acc4)rding to the substance of the contra¢tU81 arrangemonts entered into. An equity insLrLllk]ent is any contract that evidencos a Tesiduai intsrest in the assets of the charity after deducting all of its liabilities. Page 15 The C'harnwood Trust Notes to the Financial Statements for the Year Ended 31 Augu$t 2024 (continued) Recogjthlon and mewur¢meMI All tinancial assets and liabilities are inrttally measured at tr￿s￿￿On price (including transaction costs), exc¢pt for thos¢ fill￿claI assets dassified as at fair vatue thrnu8h profit or Eos4 which are initially lllea￿red at fair value (Mdich is normally the transaction price oxcluding transaction costs), wdes8 the &rrangement constitutes a f￿￿CIng transaotion. If all arrangement constitutes a finoncing transaction. the fAnan¢iaJ asset or financiat liability is llieAsured at the present value of the ￿tUre paymfflts discounted at a market rats of interost for a similar debt instrument. 'Financial assets and liabilities are only offset in the statement ot liJtso¢ial positiott and only whert there exists a legalty enforceable right to set off the recO￿lsed amowts and the charity intends either to settle on a net basis, or to Tealise the asset and s¢ttle the liabAlity gimultaneously. Financial Ass¢ts are derecognised when and only M&¢n a) the contra¢tual rigbts to the cash flows from the financial llsset expire or 4r¢ settled b) the charity transfers to another paty $ubstantiaIly all of the risks and rewdJd8 of othv6rship of the fjnanciql asset, or c) the ch2Tity. d&spits having retained some, but not all. significant risks and rewards of ownership, has tr￿Sferred control of the asset to another paty. Financial liabilities ate derecognised only ￿ell the obligation spocified in the contract is discharged. cancolled or expires. Pa8¢ 16 The Lharnwood Trust Notes to the Financial Statements for the Year ER]ded 31 August 2024 (continued) 2 tn¢on* fwom dollations legR¢ies Unr¢sts4cted funds CenerAI RegtrACted fund8 TotAI 2024 Total 2023 Donations and Icgaci¢s' Donations from compRlli8s. trusts and similar proce￿￿ Don&tÉons from individuals Legacies Gift aid reclaimed Grants, including capitsl grants. Grants from other charities Qifts in kind 14,860 11,679 14,860 11,879 6,634 8,580 30.(￿0 146 200 196 196 1,125 1,125 24,206 400 26,735 1.325 3 Incom¢ tharitable activitles Unre5trictsd Tot841 2024 Total 2023 EYPP SEN Grant FTee Entidement Grant Additional Support 2 YeaT Old Offer DAF . Disability Ac¢&45 Futtd 4,232 359,163 244.397 7,328 35,640 12.740 1.925 48,691 33.320 52,209 511 5,976 4.232 359,163 244,397 7.328 35,640 12.740 1,925 48,691 33320 52,209 511 2.153 373.631 261,455 17.073 12,224 22J4 34.558 27,400 25.822 737 6,122 Nursery se￿lOn Lvn¢h and snack fees Woodies Fee Extr￿ and add ons Opportunity Group Fees 806 132 806 132 763,389 e17 The Lharnwood Trust Notes to the Finajjcial Ststejnents for the Year Ended 31 August 2024 (contlnued) 4 hieome fi'om other trftding a¢tivAti Unre8tri¢tsd fllud8 General Total 2024 Total 2023 Local fundraising and strcct coll¢ction illcoth¢ Other income frorn other trading activities 6,653 6,633 6,126 3,071 5 Jnvestnwnt incon Unre8trtcted funds General Tothl 2024 Total 2023 Interest re¢eiv&bl¢ and similar income. tnterest receivable on bank deposits 1.076 184 6 Other income Unrestricted fund8 General Total 2024 Fees and-.upplies lo.￿0 Page l¥3 The Charnwood 'frnst Notes to the Financlal Statements for the Year Ended 31 August 2024 (continued) 7 EipthidltuiE ¢liaritable a¢tivltie8 Unre8trl¢tsd Totsl 2024 Total 2023 Cener41 Restricted Wages salarics Social security costs Pension costs O&eT Staff costs Establishment Costs Cl¢E￿illg Office Expo￿¢5 Sundry and other costs Physiotherapy. speeth alld occupational thwapy costs Dtspreciation, amortisation and other similar costs Road repaits Governallce costs 706,390 41.606 29,947 8,830 41,165 27,176 11.611 23,975 706,390 41,606 29,947 8,830 41,165 27.176 11,611 25.330 66.fj.104 36,055 27.314 8.458 32,077 23.705 12.664 32,350 1,355 34,370 34.370 21.811 17.361 17,361 22,469 19,555 1.355 949 385 906.818 8 Other expenditure Total 2024 Total 2023 Other resources expended 125 125 Page 19 The CharnTvood Trnst Notes to the Financial Statements for the Year Ended 31 Allgust 2024 (continued) 9 Ajialysis of governwice alid support Costs Cove1￿ Aiiee co8t8 Unrestim￿ted funds Gaiei'al Total 2024 Total 2023 Independent oxaminer feos ExaminAtAon of the financial stotsments Other fees paid to WAan)tners Other govemunce cogts I,ioo 4,231 268 1,100 4,231 268 1.065 3.578 613 5.599 5.599 10 Tru8£ees renwneration expenses No trustees. nor any persons connected with have received any remuneration from the th&rity durAng the No trustees have re¢¢ived any reimbursed exwse5 or any other benefits frorn the charlty during the year. 11 Stsff costs Tha aweLiate pajryoll costs w￿8 as follows: 2024 2023 Staff costs during the ye￿. were: Wages and salaries Social security costs Pension o)sts od￿ staff costs 706.390 41,606 29,947 665.104 36.055 27,314 8.458 786,773 736.931 The mottthly average number ot persons (including senior management I leadersknp team) employed by the tharity during tho year w4s 51 (2023.. 50). The monthly average number of persons (induding genior management I leaderskn'p team) employed by the charity dwing the Ye￿ expressed as full time equivalents was as follo￿.. 2024 No 2023 Administrative staty Teaching staff 26 26 29 30 Pago 20 The L"harniYood Trnst Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 31 (2023 - 31) of the abovo employees participated in the Defined Contribution Pension Schemes. CotttributioDS to the employee pension $¢hemes for the year totalled £29,947 (2023 - £27,314), No enwloyee reooived emoluments of nwre than £60,000 during the year 12 Taxadon The charity is a registered charity atsd is tber¢fore exempt from taxation. 13 Tangible fixed assets Land and buildings Furnithre and equlpment Total Cost At I September 2023 Additions 685.358 88.126 3,733 773,484 3,733 At 31 August 2024 Depreeiallon At I Septembgr 2023 Charge for th¢ year 685 358 777,217 149,670 84.150 233,820 17.361 At 31 Auwst 2024 163 377 87,804 251.181 Net book value At 31 August 2024 521981 4.055 526.036 At 31 August 2023 535.688 3.976 539,664 14 1)ebtOi¥ 2024 2023 Tr4de debiors Prepayments and accrued incon Other debtors 4,029 1214 982 70,920 45,607 933 117.460 Paga21 The L"harnwood Trust Not&8 to the Financial Statements for the Year Ended 31 August 2024 (continued) 15 Casb and eash equiv&leots 2024 2023 Cash on hand Cash at bank 3,495 117819 1606 121.314 96,216 10 Creditors: amount$ flllling due withln one year 2024 2023 Trade creditors Oih¢r taxation and social security Other creditors Pthsion sxheme oroditor Ac¢ruals 5.578 8.894 750 4.500 4,491 12,1142 503 1.300 15,135 24.213 17 ObligRtions undei. leas28 and hlre purehwe ¢ontr&ets Operating lease couunitments Total future mintmurn lease payments under non-cancellable operating16&s#s aTe as follows.. 2024 2023 Other Within one year Between otte and five years 1.565 3,912 5.477 Page 22 The Charnwood Trust Notes to the Fittaneial Ststements for the YeAr Ended 31 August 2024 (continued) 18 FvAd8 Ba]an¢e at I September 2023 Incoming resources Resource8 eipended BalAnee Rt 31 August 2024 Uniwtt4¢ted General 719,479 853.751 948,579 624 651 Restri¢ted ArthuT'S Fund Groundworks UK 4.741 200 1,125 (230) 4.711 Total Restri¢ted 4.741 1,355 Total funds 855.076 949 934 629.362 BxRan¢e at I Septemb¢r 2022 Incoming Y¢8ourccs Resouw¢¢s cxpcndcd Balante at 31 Aiigust X123 Unrestii¢ted General 784,455 839.428 904,404 719.479 Restrieied Arthur's F￿d Opportllllity Gmup Totsl Restrirted 4.646 loo (5) (J8 4,741 4.646 3213 Total funds 789,101 842,736 724220 The specific pU￿oseS tor th¢h the tunds ar8 to be applied are as tollow5'. Arth￿'S Fuftd is held in Men￿￿ of the late Arthur Cros4 the longest sorving ttwtea of tbe charity, This funa is used to make sn]all grauts to help staff and fami]ies with speclfic n¢ed% such as holidays or transForL Groundworks UK award¢d a gTallt from the Tesco Stronger Starts SGhem¢ towards the project Nurture Me, Feed Teach Me that prc'iides food and support to yoimg peop. The OppK)rtunity Gn)up received a ￿'ant from The Co-op LO￿ C4)rnmunity Fund in the pravious Y￿9n¢la1 year towards thè costs of this group. 23 The Charnwood Trust Notes to the Financial Ststements for the YeAr Ended 31 August 2024 (continued) 19 kniaty8is of llet assets betweeu fund Umrostricted Nds General Total fund8 At 31 August 2024 Re8trieted funds Tangible fixed assets L'urrellt a5S¢t8 Current liabilities 526,036 122,828 13 526,036 127.539 24.213 4,711 Total net assets 6?.4.651 629.362 Total funds At 31 August 2023 funds Geneiwl Restiictsd liinds Tangible fixed assets Current assots Current liabilities 539,664 208.935 29.120 539,664 213.676 29.120 4.743 Totsl net assets 719 479 4.741 724220 20 Relatsd party transactions During the year the charlty recekv¢d aggregate donations totalling £1,000 from four trustees. There were no other rel￿ed paty transactions in the year. Page 24