ST PAUL'S COMMUNITY DEVELOPMENT TRUST (LIMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 REGISTERED CHARrrY NO. 508943 Company Number 01429707
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee CONTENTS OF THE FINANCIAL sTATEmEs FOR THE YEAR ENDED 31st MARCH 2024 Page Legal and Adminislrative Information Report ol Ihe Trustees Report of the Auditors 10-12 Slalement of Financia5 Activilies 13 Balance Sheel 14 Cashflow Stalemenl 15 Notes lo the Cashllow Slatemenl 16 Notes forming part ol the Financial Statements 17-26
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Llmlted b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st klARCH 2024 LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31st MARCH 2024 Trustees Pat Wing Mark Riley Nicholas Shepherd Glare Reardon Paul Chew Miles Parker Elaine Meredith Amy Lassman Kashaf Ali Chair (Resigned 31 Sl August 20231 Homrary Treasurer (Resigned 25tn March 2024 {Resigned 31 $1 August 20231 Chlef Executlve Lisa Martinali Secrelary Elaine Hanrahan Registered Office Sl Paul's Cenlre Hertford Street Balsall Healh, Birmingham B12 8NJ Auditors Thomas & Young Limited Carleton House 266-268 Slrattord Road Shirley, Solihull West Midlands B90 3AD Bankers Lloyd TSB Bank p 32-34 Alcester Road South, Kings Heath, Birmingham B14 7PU United Trust Bank Limited 80 Haymarket, London SW1Y 4TE Sollcltors Shakespeares Somerset House Temple Streel. Birmingham B2 5DJ Company Number 01429707 Page 1
ST PAUL'S COMMUNrrY DEVELOPMENT TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 The Trustees. who are also Directors ol Ihe Charity for Ihe puwses of ihe Companies Act 2006, subrnit their Annual Report and Audited Financial Stalements for the year ered 31 st March 2024 The Financial Slalemenls comply with the Charilies Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charilies.. Stalement ol Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 $t October 2019). Purpose and Aims Our Charity's purpose, as set out in Ihe objects conlained in the Company's Memorandum of Association, is to benefit the public by providing educational, leisure, arts and cuHural activities to all those in Balsall Heath and surrounding areas bul especially for children and young adults. The airns of our Charity are to improve the quality of lrfe for all those in Balsall Heath and surrounding areas by promoting physical, mental and spiritual wellbeing. The Trustees confirm that Ihey have complied with the duly in Section 4 of the 2011 Charities Act to have due regard lo guidance published by the Chariiy Commission. including public benefit guidance, when reviewing the Trust's aims and objectives and in planning lulure aclivilies. Ensurlng We Achieve our Aims Each year we monitor our aims and objeclives for each area ol the Trust by evalualing the outcomes of our services provided lo see il we are benefiting those who use Ihem or have access to them. Achlevemenls and Performance This has been an exciting year for the Trust, with a new CEO. focussing upon on-going developments ot delivery, reviewing new contracts, securing new funding to support activities and embedding new systems and Irameworks lo ensure Sl Paul's is a slronger organisation. A focus upon a strategic review has provided a plalform lo re-engage with stakeholders to inform our direction of travel lor the future. This. alongside our branding work will provide the leap needed to rnove the charity forward. This year we developed an Annual Plan which set out our headline priorities for the year. along with corporate KPI'S and increased reporting on key governance requirements. This enabled a clear focus for the year ahead. driving purpose and continuous improvement. The environment in which Sl Paul's operales rernains challenging, yel we have continued to secure new areas of delivery and build our offer. Operating within the Birmingham context has its difficulties, however, also opportunities as the vibrant VCFSE sector and diversity of the city adds to its richness. We are proud lo continue to operate as a communiiy anchor organisation, whilsl also managing our cily-wide remit of our independenl education setting. Our provision falls within the following direclorales= Sl Paul's Independent School and posl-16 Education Centre Birmingham Forward Steps- early years prowsion Day Care Children's Nursery Balsall Heath City Farm Communtty Hubs - Venture Hall hosting health and well-being. yOLrth and out of school provision Support Services - back-office provision Company Number 01429707 Page 2
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 St Paul's Specialist School and Post 16 Educatlon Cenlre This year we have continued lo meet the demand lor SEMH provision with all our 55 pupil places being taken up at our school and Post- 16 sites. The support requirements of our pupils are complex, and we continue to aim lo meet their needs, working with other providers, and partners. A review of our offer has taken place and we have identified areas lor development. There has been a strong focus upon improvemenl this year, which has been supported by exlernal support. We are clear about our improvement priorities and are developing this lurther in the year ahead. Our offer is complemented by alternative provision including construction, mechanics. hair and beauty. landscaping, and childcare. We also have supwrt from a regular visiting Behaviour Mentor and Educalion Psychologist lor our pupils. Despite the challenges we are pleased that a small number of pupils took their GCSE exams. with most of our cohort continuing lo focus upon vocational qualilications and functional skills. Blrmlngham Forward Steps We have continued to achieve great results as a member of our Hall Green and wider Birmingham FoNard Steps partnership. This year there was a locus upon the contracl renewal which we are pleased to say was approved unlil February 2027. Alongside this is the focus upon re-modelling lo meel the wider agendas ol 0-19 years offer and Ihe launch of Family Hubs. We continue to work with partners to achieve the best oulcomes for families and children within the district. Our performance remained slrong and for some indicalors exceeded the larget with positive results in achieving child development checks, delivering family support, and engaging parentslcarers in targeted programmes such as HENRY healthy eatingililestyles and the Freedom Programme. Infant breastteeding and perinatal support remained a priority to enable infomiation. advice and guidance for soon to te or new parents. This year we also launched Sl Paul's Children's Centre as the main Family Hub in Hall Green, working with our partneTship colleagues at The Springfield Project lo increase our ofler, SUPPOrt access lo other services and develop a more responsive provision for wider families. This will continue to develop during 2024-25. Day Care Chlldren's Nursery Our day care nursery continued lo provide affordable childcare 161 children within the l¢xal community. With the implemenlation of new government funding planned for 2024-25 we spent time evaluating the impact for children and how we need lo reswnd as a provider whilst maintaining aflordabiltty. The positive relationship with our parenlslcarers continues Wlth the majority attending stay and play sessions throughout the year, nursery graduation in July 2023 and Chrislmas sing-a-long in December 2023. Ensuring children are school ready is crucial to providing the best start in life and reducing inequality. and we are pleased we SUPF)Ort children lo be in a good position for the start of iheir school year. We were successtul in Securi additional funding for play resources for the nursery which have aided leaming and developmenl, alongside accessing our city farm and a range ol environmental sessions. Balsall Heath City Farm Our cily farm provides a sanctuary lor many of our users. An opportunity to connect with nalure and the animals, exploring, learning new skills and knowledge, and building positive relationships with others. Our regular sessions are well attended, our communty evenls attract people from all walks of life, and focus upon reducing srtial isolation. This leads to many of our volunteers engaging in wider Trust activities and supporting our broader purpose. We have continued lo host visits, community groups and provide a much-loved and calming learning environment lor our school pupils. Regular activities also include Tiny Farmers. ComtKJSt Culture, gardening groups, sessions with Fruit and Nut and wider community access. Our hosting of work experience evidenced that l 00% achieved posrtive outcomes. A win-win for young people and support for the farm in undertaking daily delivery. This year we experienced a further break in and theft of animals which has saddened stalf. users and volunteers. However, we have remained resilient. and improved security further working wilh local cornpanies lo develop a more secure site and animal Fens. Company Number 01429707 Page 3
ST PAUL'S COMMUNITY DEVELOPMETrrr TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 Community Hubs- Venture Hall Our community Hub remains a safe place for people to visit. build connections, and access new opportunities. Capital works were finalised improving the environment lor Iccal users and employees. We continue to hosl other community groups. alongside our own offer, which support local Ople and build their confidence and skills. The range of activity cater5 for various groups and needs and includes creative writing sessions via 'Whal's Your Story. group., Amal Creative Women supporting Yemeni females through arts and language sessions; Chai & Chal, for older residents,. and the continued offer ol Warffl Spaces for ihose wanting to access a drink, warmth and socialise. We were also able lo provide a Food bank over the winter months wth city council furKling. This year we also secured some funding io develop a Youth Sports Network for Balsall Heath and Sparkbrook. This provided resources lo develop school holiday and weekend programmes for young people. Including consullalion with local youths. Again. opening new activilies such as roller-skaling and basketball with inclusive sessions. Our on- going delivery during school holidays was supported by the Holiday Activity Fund enabling up to 150 children lo access good quality holiday club and food. Our Balsall Heath Well-being Network held quarterly meetings, and we are keen to link into the priorilies identified by the Integrated Care Board in our locair(y. Our on-going focus upon well-being has supported the development ol an Angling Group supporting Young People affecled by rnenlal health to reap the benefits ol fishing, using local comrnunily assets. Our Out ol School service continues wilh strong numbeTS of chikyren accessing excellent qualily provision and we were extremely pleased lo receive a successful Olsted visit with high praise lor our service within the report, maintaining the standard of 'Oulslanding'. Support Services Our Support Services include HR, IT, Facililies Management, and Finance. The infra-slructure support is critical to ensure the success ol tronl-line provision and contributes to the seice-USer experience. There have been significarrt developments in several areas during the year. Our slraiegic review was launched wilh the Board away day in July 2023 and has been a catalyst for increasing engagement and feedback fTOm our stakeholders. We are pleased that this work will inform our priorilies for ihe next 3 years following approval in early 2024-25. The feedback from ourcuslomers aThJ service users has been amazing., evidencing the difference we make to people's lives. Our service-user survey showed that 980/0 of our customers were salislied. This provides a high baseline for the year lo come. We will be assessing how we can improve our methods lor gathering feedback and increasing the number ol respondents to ensure a pathway for 'customer voice,. Our employees are critical lo our successful delivery and impact. We implemented actions from our last staff well- being survey including an additional 22 slaff undertaking Mental Heallh First Aid training. We undertook our new annual staff salislaclion and well-being survey in quarter 4 this year. Overall, 73°/0 of slafl are salisfied, with the majority feeling supported by the organisation and Iheir manager. Dissatisfaction wilh salaries was one of the highest areas, and we are undertaking a salary and benetits review in 2024-25. We are seeking to increase responses this year and will respond to the key items raised. Compliance is critical lo us lo ensure we provide a safe and secure working environment lor us and our users. This year we reviewed our requiremenls setting oul our priorities for health and safely, data protection and risk management. We have developed a tramework for wlicy reviews, developed a corporate risk plan, improved safeguarding practice and monitoring, and embedding an increased awareness ol health and Safely culture. We have focused upon our buildings rnaking improvements and developing a more structured approach to reporting and maintenance managemenl. We continue to closely monitor deliver and performance in line with conlraclual, legal and regulatory requirements. Strong governance is fundarnenlal for the accountability of our charity and this year we undertook a governance review with undertaking a self-assessment againsl the 7 principles of Ihe Code of Governance for charities. These evidenced strengths ol Ihe Board, and also some areas lor Oevelopmenl. Key areas include improving processes for recruitment, skills audits and appraisals. The reporting tramework to Board has also been reviewed with an improved Company Number 01429707 Page 4
ST PAUL'S COMMUNrrY DEVELOPMENT TRUST Llmited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 performance managemenl system and higher level str*egic focus based upon risk management and development. With regular reviews this has embedded well and provides a clear structure lor agendas, and organisalional oversight. Sadly, we have had several Governors and Trustees resign this year. This has provided an opportunity to focus upon skillslknowledge gaps and respond to our requirements now and in the luture. Community volunteering days and support from corporate organisations continued, mainly supporting the ctty farm. A big thank you to Walsall Wheelbarrow Company, Evelyn Partners (Birminghaml, Employee Volunteering, AECOM. HSBC, Gilead and 24-7Locks for their volunteering. donalions of equipment and funding. The Trust agreed use of reserves to support deliver and on-going commitments from the previous years. We secured funding from on-going funders and new income streams. We were pleased lo continue to strengthen our financial position whilst also dedicating much needed Tesources to priority areas within the Trust. Core Measures for 202>24 Pertormance Measure Target 2023-24 Baseline Actual 2023-24 98V. serve-User Satisfaction annual Birmingham Forward Steps children who received a 2-2.5 year review (IMDR} las a 67Y. 87Y. BFS Supporting families who fa multiple and complex needs Assessments initiated Nursery children school ready (including with a plan) when starting reception class as a °/0 of child School on-site il attendae Venlure service users evidencin Nesl out of school club occu anc Farm work ex erience outcomes achieved Successful bids Contract Com liance Early Help 200 197 100V. 99/. 85% 75°/. 80°/. Baseline 650 100Y. 69V. 97°/ 94°/. 1000 92°/ 100¥. roved well-bein Volunteering We would like to place on record our thanks to all those individuals and businesses Ihat have volunleered for the Trust over the year to 315t March 2024. Wtthout you we would nol have a sile that looks as good as it always does. Your time and effort is really appreciated. Allractlng New Money 202312024 Successful funding bidslDonalions 202312024. Our thanks go to all organisations who invested in Sl Paul's. 291n May 1961 Charilable Trust £5,000 Further funding raised from the break-ins £3,431 Roger & Turner Trust £2.000 Warm Spaces £2,000 Hall Green Neighbourhood Scheme £7,713 Leeds Beckett £3.000 Hello Fresh £1,50D B VSC Research together £1,000 Sport Bimiingham Active Birmingham £18,400 Sport Birmingham Urban Sport £6,500 Faith Action £5,61YJ Birmingham City Council £4,300 Neighbourhood Dev and Support Beyond B'ham £7,720 Saintbury £2,000 Balsall Heath Well Being Nelwork £1.350 Winter Food Grant £5,000 Company Number 01429707 Page 5
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sl MARCH 2024 We would like to thank ihose who contribLrted lo the Trust and confirm Ihal £20,352 has been deferred into the next financial year. Financial Review The principal funding sources are detailed in nole 3 atKJ toial resources expended are detailed in nole 5 lo the Financial Statements. A sumrnary ol income and expenditure is shown al note 13. The current year has seen an overall surplus of £44,030 (surplus of £63.460 for 20231. The School shows a surplus of £1 10.067 (surplus of £28,087 lor 20231 Children and Family Services a deficit of £58,878 (surplus of £38.405 for 20231 and Support Services a delicil of £7,159 Ideficil of £3.032 for 20231. The lotal funds carried forward stand al £1.390,746 and are detailed in nole 12. Investmenl Policy There are no restrictions on the powers ol the Trustees lo invesl the funds of the Charity. The current policy ol the Trustees is lo have regard lo income requirements and any risks which have been identified and lo relain any such funds as are required in the short term bank deposit accounts. When there are funds that are not immediately required they will be invested in suilable high interesl accounts. Reserves Policy Where the Trustees are able lo do so, they aspire to relain a reserve of approximately three months running costs lo ensure stability, but in current lirne5 hold at leasl one month's running cosls togelher with a sum of £250,000 for closedown costs. In addition, Trustees hold in reserves frorn tirne to lime restricted funds, which are allocaled to a time period later than that of Ihe accounting period. The present level ol funding is adequate lo support the conlinualion of ihe Trust for the medium term, and the Truslees consider Ihe financial position ol the Charily lo be satisfactory. Funds Held as Custodian Truslee on Behall of Others The Charity manages and operales a bank account where the funds held do not belong to Sl Paul's Community Development Trust. The balance on this account as al 31 sl March 2024 amounted to £9,969. The lund is used solely for payroll administration on behalf of organisations in the loca communty. Plans for the Future This has been a produclive year, however ihere are slill several areas thal Tequire on-going locus. These, alongside delivery of year 101 our Strategic Plan will build up)n our loundalion and history to make St Paul's an even stronger organisalion. Our priorities as set oul within our Board approved Annual Plan lor 2024-25 are.. Implementation ol Slralegic Plan - year 1: Development ol youth offer CAFIE Farm accreditation Health and well-being activity development Birmingham Forward Sleps- launch new mcrflel Governance Review implementation- Truslee appraisals Trustee recruitment Training plan Branding and website implementation Company Number 01429707 Page 6
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 Employee well-being and development= Corporate Training Plan Survey actions Management Development Programme School review and post 16 Education Centre developments and internal improvement plan Compliance= Health and safely audits Safeguarding reporting intemal and external Preparedness for Ofsted Equaliiy Diverstty and inclusion: Improve recording and reporting Service developments Slructure, Govemance and Managemenl Governing Document The organisation is a charitable Company Limited by Guarantee, incorporated on 14th Jun8 1979 and registered as a Charity on Ihe same date. The Company was established under a Memorandum of Association which established the objects and powers ol the charilable Company and is governed under ils Articles of Association. In the event of the Company being wound up members are required to contribule an amount of £5. There are no arrangemenls for setting pay and remuneration of key management personnel and no benchmarks, parameters or criteria have been used. Recruitment and Appointment of Trustees The Directors of the Company are also Charity Trustees for the purwses of Charity law and under the Company's Articles are known as members of the Board of Trustees. Under the requirements ol the Memorandum and Articles of Associalion, the Trustees are elected to serve tor a period of three years after which they stand down and may sland for re-election. The Trustees give their lime freely and receive no remuneration or other linancial benefit. To identify possible gaps within the Board of TTuslees, the Trustees are requested to out an audyt of their skills, experience and background. Once idenlified. a job description and person specification are drawn up and the vacant position is then advertised. Also, an application can be completed should a potential applicant be interested and there are vacancies wilhin the Board of Trustees. A panel of Trustees will then undertake the recruilmeni process carried out by the rest ol the Trust. which includes interviewing the successful applicants who meet the criteria. The applicants will have an opportunity lo observe a meeting and request any further infomiation. Trustee Induclion and Training New Truslees are given an induction pack which includes Trustee responsibililies logether with a copy of Ihe Memorandum and Articles of Associalion. structure ol the Tnjsl and departmenls. latest business plan and copies of previous annual reports. They are also given access to the Trust's intranet which contains the Policy Manual. Organisation The Board of Truslees, which can have up to fvielve members, administers the Charity. The Board meets at least four time5 a year and is responsible for the strategic direction and policy of the Charily. A Chièf Execulive is appointed by the Truslees to manage the day io day operations of the Charity and also attends the Board meetings. To tacililale effective operations, the Ghiel Executive has delegated authority, within terms of delegation approved by the Trustees, for operational matters. Company Number 01429707 Page 7
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 Related Parties None ol our Trustees receive remuneration or olher benefii from their work with Ihe charily. Any connection between a trustee, senior managers or senior staff must be disck)sed lo the full board ol Trustees in the same way as any conlractual relationships with a related party- In the current year no such related parly Iransaclions were reported. Rlsk Managemenl The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established lo enable reports to be produced so thal the necessary steps can be laken to lessen these risks. Trustees. Responsibilities in Relatlon lo Ihe Financial Statements The Truslees (who are also the direclors for the purposes of company law) are responsible for preparing the Report of the Trustees and the Financial Slalemenls in accordance with applicable law and regulations and in accordance wilh United Kingdom Generally Accepted Accounting Practice. The Trustees are required by company law lo prepare Financial Stalemenls for each linaricial year which give a true and fair view ol Ihe financial activities of the Charity, and of ils financial position at the end of thai year. In preparing those Financial Statements the Twslees are required lo: al select suitable accounling policies and apply ihem consislently; bl observe the methods and principles of the Charrties SORP 2019 {FRS1021- cl make judgements and estimales ihat are reasonable and prudent-, d} prepare the Financial Slalements on a going concern basis unless it is inappropriate lo assume that the Charity will continue in operation. The Trustees are resnsIble for keeping adequate accounting records thal are suff icienl lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position ol the Charity and that enable them lo ensure the Financial Slatements comply wilh Ihe Companies Act 2006. They are also responsible for safeguarding the assets ol the Charity and hence for laking reasonable sleps lor the prevention and detection of fraud and other irregularilies. Stalement as to Disclosure of Informalion to Audltors So far as each Trustee is aware, there is no relevanl information (information needed by the Charily s auditors in connection wilh preparing their report) of which the Charty's auditors are unaware, and they have laken all ihe steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and lo establish Ihat the Charity's auditors are aware of Ihat infomiation. Auditors A resolution proposing Thomas & Young to be re-atpoinled as auditors ol the Charity will be put to Ihe Trustees al the meeting lo agree the Slatutory Accounts. This report has been prepared in accordance wrth the small companies. regime. Chair's Report for Ihe year ended 31st March 2024 11 certainly doesn't seem that 12 months have gone by since I wrote Ihe last chairs annual reportl Can I start as I did last year by offering a huge thank you to all those who help lo make St Paul's Trust the success that it is., the slalf, volunteers, Trustees, School Governors. funding partners and partners. supporters and all the individuals and families and Iheir friends who use the services that we offer. St Paul's would nol be what it is withoul all of you, so again, thank yOL3. In the lasl year we have said ihank you and goodbye lo several School Governors and Truslees, Amy Lassman, Ali Beard. Gill Coffin, Mark Riley and Miles Parker. Thank you to each ol you for your time and commitment on behalf of the Trust and we wish each ol you well for the lulure. l offer a special thank you to Gill Coffin who has been Company Number 01429707 Page 8
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2024 associaled wilh the Trust from ihe very beginning. Gill was Chair of Ihe Truslees for many years and Chair of the School Governors for much of that time too. If you are l¢Joking at the true value of volunteering then Gill is a perfecl role model. She has been an absolute star for Ihe Trust over so many years and now I think fully deserves her well- earned reliremenl. Onto the business of the Trust and once again r( has been a busy, produclive and successful year. The Early Years contracl is shortly up for renewal and our CEO has spent much of her time in her lirst very successful year negotiating with partners what the lulure might look like. The new contract will be based more on a O 10 19-year model, which will align with our areas of grovrth, arKJ support more families in the fulure. The School, as ever, has been through some difficult limes and issue5 and yel continues to provide a much-valued opportunity lo young people with extremely cornplex needs. We have had lime for reflection and increased focus upon key areas responding to ourown internal improvemenl plan to help us on ourjoumey. Resources are a constant concern, however, we have reviewed our requirements and planning to move forward with a revised model in the near future. A strategic and governance review has been undertaken with Trustees. informed by staff. service-users and wider stakeholders, setting the direction for the nexl 3 years. This will enable us to establish a'whole team, business model, that will take us well into Ihe future. Thal is due lo be published later Ihis year along with a review of our branding, that will lead al the very least lo a new website and a very drtferenl 'public lacing. profile. The farm continues to grow and develop with lots of volunteers. opportunities and also pupils from the school gaining experience by working in this environmenl. If you visil the farm, you will see the bench which has been placed there as a tribute to the two founders of the Trust. Dr. Dick Atkinson and Dr. Anita Halliday. Earlier on in the year we held a remembrance event to celebrate what Ihey had achieved tor the Trusl. and it was a very fitting occasion wilh some lovely tributes. Alongside the farm is the Venture where lots of very different activities take place providing a safe and caring venue for all age ranges, now particularly building our expertise around the health and well-being of our visitors. Across Ihe way is the Children's Centre where we care for the young tots in two different areas, the nursery which looks after the very young and the preschool early years centre, with facilities providing an excellent service to both local families and those from lurther afield. Last but nol least, the Trusl could nol work without the huge inpth from the staff who work behind the scenes to ensure Ihat the whole operation runs smoothly. Thank you to you all Team Sl Paul's- In summary, The Trusl is in a good place with lots of traditional and new, innovative opportunities and we look forward to the next year with a huge degree of confidence and ambition. Palrick Wing MBE JP Chair ol Trustees. Approval This report was approved by the Board of Directors and Trustees on 24th Sepiember 2024 and signed on ils behalf. Pat Win Trustee Lisa Martinali Chief Executive Company Number 01429707 Page 9
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST PAUL'S CON,IMUNITY DTr.IIELOPMENT TRUST Limited b , Guarantee Opinion We have audited the financial statements of St Paul's Community Development Trust (Limiled by Guarantee) for the year ended 31 March 2024 which comprise the Slalemenl of Financial Aclivilies. the Balance Sheel, the Cash Flow Stalemenl and the related notes lo the financial statements. including signilicanl accounting policies. The financial reporting Iramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Slandard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true ané lair view of the stale of the charitable company's alfairs as at 31 March 2024 and ol 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 Praclice., and have been prepared in accordance wtth the requirements of ihe Companies Act 2006. Basis lor opinion We conducted our audit in accordance with Inlernalional Standards on Auditing (UK) IISASIUKII and applicable law. OUT responsibilities under those standards are further described in the Audttor's responsibilities for the audit ot the financial statements section ol our report. We are independent of Ihe charitable company in accordance with Ihe ethical requirements that are relevant to our audit ol the financial slalements in the UK, including the FRC'S Elhical Standard, and we have lullilled our other elhical responsibilities in accordance with these requirements. We believe Ihal the audit evidence we have obtained is suff icienl and appropriate to provide a basis lor our opinion. Conclusions relating to going concern In audiling the financial slalements, we have concluded thal the truslees, use of Ihe going concern basis of accounting in the preparation ol the linancial statements is appropriate. Based on the wort( we have performed, we have not idenlilied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable cofflpany's ability lo continue as a going concern for a period of al leasl twelve months from when the financial slalements are aulhorised for issue. Our responsibilities and the resF()nsibilities of the Irustees with respect to going concern are described in the rèlevant sections of this report. Other information The oiher informalion comprises the information included in the Iruslees. annual report, other than the financial statements and our auditor's reFXJrt Ihereon. The trustees are responsible lor ihe other informalion contained within the annual report. Our opinion on the financial slalernenls does not cover the other information and. except to Ihe extent otherwise explicitly staled in our report, we do ml express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so. consider whether the other intormation is materially inconsistent with the financial stalemenls OT our knowledge obtained in the course of ihe audit or olherwise appears to be malerially misstated. If we identify such material inconsistencies or apparent material misslatements, we are required lo determine whelher this gives rise lo a malerial misstalemenl in ihe financial slatemenls Ihemselves. If based on the work we have performed, we conclude that there is a rnalerial misslalemenl ol this other information, we are required to report that fact. We have nolhing to report in this regard. Opinions on other matters prescribed by the CompanTes Act 2006 In our opinion, based on the worlf undertaken in the course ol the audit= Company Number 01429707 Page 10
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee the information given in Ihe Iruslees, report incorporating the directors. report prepared for the financial year for which Ihe linancial statements are prepared is consistent with the financial statements. and the directors, report has been prepai&J in accordance wtth applicable legal requiremenls. Matters on whlch we are required to report by exception In the light ol the knowledge and understanding of the Charitable company and its environment obtained in Ihe course al the audit, we have nol identilied material misstatements in the directors, reporl. We have nothing lo rewrt in respect ol the following matters in relation to which the Companies Act 2006 requires us lo report lo you if, in our opinion: adequate accounting records have not been kept. or returns adequate tor our audit have nol 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 specrfied by law are not made; or we have not received all Ihe informalion arKI explanations we require for our audil. or Ihe trustees were not entitled lo prepare the financial slatements in accordance with the small companies regime and take advanlage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a slralegic report. Responsibilities ot trustees As explained more lully in the tru5tees' responsibililies statemenl (sel out on pages 4 and 5}, the Iruslees (who are also the directors ol the charitable company lor the purposes of company lawl are responsible tor the PTeparation of the financial statements and lor being satisfied thal they give a twe and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial slalements thal are free frorn material misslatement. whether due to fraud or error. In preparing the financial stalements. the trustees are responsible for assessing the charttable company's ability to continue as a going concern, disclosing. as applicable, matters related to going concem and using the going concern basis of accounting unless the Iruslees eilher intend to liquidate the Charitable company or to cease operations, or have no realistic alternative but lo do so. Audltor's responslbllilies for the audil of the linancial ststements We have been appointed as auditor under seclion 144 of ihe Charities Act 2011 and report in accordance with regulations made under section 154 of the act. Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free Irom material misstatemenl, whether due to fraud or error, and to issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee ihat an audit conducted in accordan with ISAS IUKI will always detect a malerial misstatement when tt exisls. Misslalements can arise Irorn fraud or error and are considered malerial if, individually or in the aggregate, they Could reasonably be expected lo influence the economic decisions of users laken on the basis ol these financial statemenls. A further description ol our responsibilities for audil of the financial stalements is located on Ihe Financial RepJrting Council's website at.. www.frc.uklauditor5res onsibilities. This description tomis part of our auditor's rewrt. Company Number 01429707 Page 11
INDEPENDENT AUDITOR'S REPORT TO THE NIENIBERS OF .ST PAUL'S CONINIUNITY DTr.VF.I.OPMENT TRUST Limiled b Guarantee Irregularities, including fraud, are instances of non-compliance with laws and regulalions. We design procedures in line with our responsibilities, outlined above, lo detect material misslatemenls in respecl of Irregularities, including fraud. The extenl ol which our procedures are capable of delecting irregularities, including frau¢y is detailed below. Our audit approach included Ihe following elements: Assessment ol the susceplibilily ol the charity's financial slatements to malerial misstatement, including how fraud might occur. Assessment of the laws and regulations identified as being of significance in the conlexl ol the charity. We obtained an understanding of the legal and regulatory framework applicable to the charity and how the charity is complyjng with that framework. We obtained an understanding of the charftys policies and procedures on compliance wilh lav and regulations: including documentation of any instances of non-compliance. We oblained an understanding of the charity's polices and predureS on fraud risks. including knowledge of any actual, suspected or alleged fraud. We ensured that our audil personnel have the experience and knowledge lo identify or recognise non- compliance wilh laws and regulations. We use appropriate audit resources and tools to guide us in selecling Ihe righi audit approach. In considering the extent lo which the audit was considered capable of delecting irregularities, we considered how our approach lo the audit has affected Ihe likelihood ol deleclion. This was affected by.. the inherenl difficulty in delecling irregularities: the effectiveness ol the enlity s controls; and the nature. liming and extent of the audit procedures perfomied. In determining ihose rnatters that are ol significance. both quantitative and qualilalive laclors are relevanl lo such consideration. Taking into accounl all of Ihese points, our prOdureS are appropriate lo delecl material misslalements in respect ot irregularilies, including Iraud. Use of our report This report is made solely to the charitable company's members, as a dy. in accordance wilh Chapter 3 of Part 16 ol the Companies Act 2006. Our audr( work has been undertaken so that we rnighl stale lo Ihe charitable company's members Ihose matters we are required lo stale lo them in an audilor's report and for no other purpose. To the fullesl 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 trrtxly, for our audit worf(, for Ihis report, or for Ihe opinions we have formed. Mark McLean FCA Thomas & Young Limited Chartered Accounlanls & Regislered Auditors Carleton House 266-268 Stratford Road Shirley Solihull West Midland5 B90 3AD 24th September 2024 Company Number 01429707 Page 12
T PAUL'S COMMUNITY DEVELOPME TRUST Limited b Gu STATEMENT OF FINANCIAL ACTivmES RATING AN INCOME AND EXPENDITURE AccouKr FOR THE YEAFI ENDED 31st MARCH 2024 INCORP Note Unrestricted Restricted Funds Funds Total 2024 Tolal 2023 Income Donations and grants 5,195 13.064 18.259 36,654 Income from charitable aclivities: Activities lor generating lunds Operation of the Trust 5,603 356,471 5.603 3.345.644 3,702,115 7,686 2.974,656 Investrnenl Income 10,013 10,013 2.821 Total Income 377.282 3.358.708 3,735,990 3.021.817 ExpenditUTe Cost ol raising funds 1.032 1,032 668 Expenditure on Charitable activities: Operation ol the Trust 376.486 3.314,442 3,690.928 2.957.689 Total expenditure 377.518 3,314,442 3.691,960 2,958,357 Net income and nel movement in funds tor the year 14 12361 44,266 44,030 63,460 Reconciliation of funds Total Funds brought loward 467,475 879.241 1.346,716 1,283,256 Transfers belween Funds Total funds carried forward 467,239 923.507 1,390,746 1,346,716 The Stalernent ol Financial Aclivilies includes all gains losses ognISed in the year. All of the above results are derived from continuing activtties. Company Number 01429707 Page 13
STPA L'S COMMUNITY EVELoPMETr TR Gua BALANCE SHEEr AS AT 31st MARCH 2024 2024 2023 Note Fixed assets Tangible assets Total Fixed Assets 779.821 779,821 773.115 773,115 Current assets Debtors Gash al bank & in hand Total Currenl Assets 582.437 1.098.802 1,681.239 540.784 1,225.989 1.766.773 Credltors (amounts falling due withln one year) 1,070.314 1,193.172 Net Current Assets 610.925 573.601 Net Assets 1.390.746 1.346,716 The funds of the Charity: Restricted funds Unrestricted fund 13 13 923,507 467.239 879,241 467,475 Total Charity Funds 12 1.390.746 1.346,716 These financial stalemenls have been prepaied in accordance with the special provisions of Part 15 01 the Companies Act 2006 relating lo small companies arKI constitute the annual accounts required by the Companies Act 2006 and are for circulation lo members of the company. Approved by the Trustees on 24th September 2024 and signed on their behalf by'.- Lisa Marhnali Chief Executive Pat Win Trustee Company Number 01429707 Page 14
L'S COMMUNrrY DEVELOPME1 TRUST Limited b CASH FLOW STATEMEFrr R THE YEAR ENDED 31st MARCH 2024 Note 2024 2023 Cashflow from operaling activitles 871 13,280 Cash Ilow from investing activlties Interest income 10.013 2.821 Purchase ol tangible lixed assets 1138.071) 1246.5331 IDecTea5el in cash and cash equivalents in the year 127,187 230.432 Cash and cash equivalents al the beginning of the year 1.225.989 1.456,421 Total cash and cash equivalents at the end ol the year 1,098.802 1.225.989 Cornpany Number 1429707 Page 15
ST PAUL'S COMM NITY DEVELOPMENf TR Llmiled b Guar NOTES TO THE CASHFLOW STATEMENT FOR THE YEAR ENDED 31st MAR H 2024 2024 2023 Reconciliatlon of nel movement in fund5 to net cashtlow frorn operating actlvities Nel movement in funds Inveslrnent income Depreciation charge Loss on disposal Ilncreasel in debtors (Decreaselllncrease in creditors 44.030 63.460 110,0131 12.8211 131.235 111,490 130 859 141.6531 1262,4421 122.858 102,734 Net cash used in operating activltles 871 13,280 2. Cash and cash equlvalents Isl April 2023 315t March 2024 Cashflow Cash al bank & in hand 1,225.989 127.187 1,098,802 Company Number 1429707 Page 16
ST PAUL'S COMMUNITY DEVELOPMEprr TRUST Limiled b Guarantee NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 AccouHfiNG POLICIES {a) Basis of preparalion The Financial Stalements have been prepared in accor(lance wilh Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Standard applicable in the UK and Republic ol Ireland IFRS1021 leff ective 1" October 20191- Icharilies SORP IFRS10211. the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and Ihe Companies Act 2006. (b) Company slatus The members of the company are the Truslees named on page 1. In the event of the Charity being wound up, Ihe liability in respect of the guarantee is limited to £5 per member ol the Charty- The financial statements are presented in slerling which is the fLJnctional currency of the Charity and rounded lo the nearest £1. The Charity is a company Limited by Guarantee. in Englandlwales. The Charity Constitutes a public benefit entity as defined by FRSIO2. The address of the regislered Offi is given in the charity information on page 1 of these financial statements. (c) Fund accounting General funds are unrestricted funds which are available tor use at the discretion ol the Trustees in furtherance of the general objectives ol the Charity and which have not been designated for other purposes. Restricted funds are funds Ihal are to be used in accordance with the spectlic restrictions imwsed by donors or which have been raised by the Charity for particular purFoses. (d) Incorning resources All incoming resources are included in Ihe statement of linancial actiwties when the Chartty is legally entitled lo the income and the amount can be quantified with ieasonable accuracy. Income from Governrnenl Grants is recognised on receipt and when the Charity has entiuemenl to Ihe grant. (e) Resources expended All expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay lor expenditure. All costs have been direclly attributable lo one of the lunclional categories ol resources expended in the slalement ol financial activities. Govemance costs include Ihose costs associated with meeting the constitutional ané slatulory requirements. (f} Grants The Gharily issues small grants lo local inslilutions wilhin the Balsail Heath community to fund aclivilies lor children under 5. Total small grants tor the year amount lo £Nil. (g) Tangible fixed assets and depreclation Until 31 st March 1999 improvemenls to leasehold proFerties were not capttalised because the cost of additions and improvements were fully lunded and those iterns were reflected in the income and expenditure account. This policy complied with Ihal requesled by previous lunders. Although the original cost of buildings is shown in the accounts, the cost of additions before 1st April 2000 is not available. The users of the accounts are principally the Trustees, parents ol children attending the School, local residents and various lunders. The Trustees consider the cost of carrying out a professional valuation lo include those assets at a value in the accounts to be considerable conwared to the limtted addtlional benefits derived by the users of the accounts. Since 1 sl April 2000 all a¢Jdilions and impTovemenls lo leasehold buildings have been capilalised and depreciated. Company Number 01429707 Page 17
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENOED 31st MARCH 2024 Other langible lixed assets are slated al c05t. Depreciation is calculaied to wrile-off the tangible assets over their eslimaled useful live5. The principal rates in use are= Leasehold properties Motor vehicles Furniture and equiprnent Video and computer equipment 4QA ol cost 20Wo reducing balance 2/4) reducing balance 33.3°/o reducing balance (h) Pension Costs The Charity operates a defined conlTibulion scheme for the benefit ol its employees. Contributions payable lor the year are charged in the Income and Expenditure Accounl. (l) Debtors and Creditors receivablelpayable within one year Debtors and ciedilors with no stated inleresl rale and receivable or payable within one year are recorded at Iransaction price. (Jl Leases Rentals payable and receivable under operating leases are charged lo the SOFA on a straight line basis over the period of the lease. (K) Going concern The financial slalemenls have been prepared on a going concern basis as Ihe truslees believe that no material uncertainties exist. The Iruslees have considered the level ol funds held and Ihe expected level ol income and expenditure lor 12 months from aulhorising these financial slatemenls. The budgeted income & expenditure is suff icienl with the level ol reserves for the charity lo be able lo continue as a going concein. Company Number 01429707 Page 18
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Llmited b Guaran NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 2. DONATIONS AND LEGACIES Unrestricted Restricted Total 2024 Total 2023 Roger and Douglas Tumer Trust Niveah Trust Incredible Surplus Compost Culture 29th May Trust KSIMC Awards for All BVSC Lillie C Johnson Baron Davenport Animal Sponsorship Other Donations 1,572 725 5,357 5,000 1,572 725 5,357 5.000 2,987 3,907 462 200 9,412 4.750 10,000 750 90 5,105 90 5,515 410 4,186 5.195 13,064 18,259 36.654 Company Number 01429707 Page 19
ST PAUL'S COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Llmited b G arantee Unrestricted Reslricled Total 2024 Tolal 2023 Directorate of Children, Young People and Families Education Early Years and Childcare-314 years Early Years and Childcare-2 years Early Years and Childcare-SEN Early Years and Service Pupil Premium Birmingham Forward Steps Children Cenlre Birmingham Cily Council Children in Need Midland Mencap Hall Green Neighbourhood Nelwork Scheme Neighbourhood Developmenl and SupFXJrt Beyond Birmingham Rowlands Trust Veolia Environmental Leeds Beckett Faith Action Versus Arthrilus Hello Fresh Warm Spaces Winter Food Grant Living Well Balsall Heath Well Being Network BVSC Sport Birmingham Urban and Aclive Garfield Weston DWP The Countrymen Project Street Games Holiday Activilies Fund Thrieve Sainlbury Sale of services 1.799.273 171,930 68,188 8,668 3,373 1.148,558 4,300 51,826 7,888 6,285 3,560 1,799.273 171 ,930 68,188 8,668 3,373 1,148,558 4,300 51,826 7,888 6.285 3,560 1,256,665 148,438 52.089 9,134 9,579 951,705 20,175 15,457 5,565 7,608 5.000 65,964 3,000 3.000 5,000 2,167 1,500 3,146 5,000 2,948 1,350 1,000 22.547 3,000 5,000 2,167 1,500 3,146 5.000 2,948 1.350 1,000 22,547 4,393 1.500 1,873 1,873 373 10,000 5,698 6.176 21,761 1,397 21,460 21.460 75 2,602 75 359,073 356,471 371,106 356.471 3.345,644 3,702,115 2,976.529 4. INVESTMENT INCOME 2024 2023 Interest receivable on UK cash deposits 10.013 2,821 Company Number 01429707 Page 20
PAUL'S COMMUNITY DEVEL ENT TRUST Limited b Guaran NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR END I MARCH 2024 5. ANALYSIS OF EXPENDITURE Children and Family Services Basis ol Allocation School Services Support SeNices Total 2024 Total 2023 Costs of raising funds Costs of generating volunlary income Postage & stalionery Event costs Direct Direct 1,032 1,032 668 1,032 1,032 668 Charitable Aclivitles Costs dlrectly allocated to activilies Staff & Associated costs Furniture, rerjewals & refurbishment Books. equipmenl & education malerials Depreciation Other costs Direct 1,151.014 1,208,177 2.359.191 1,929,649 Direct 49.834 5,813 55,647 25.247 Direct Direct Direct 55.869 26.745 248,143 73,706 71,000 300.402 129,575 97.745 548,545 107,648 91,611 329,429 Support costs allocated to actlvltles Staff & Associated costs Books, equipment & education materials Fumtture, renewals & refurbishment Premises Bank and professional Depreciation Loss on disposal Bad debt provision Other costs Income Rec. 130,332 (2.599) 168,609 296,342 292,137 Direct 871 871 13.847 Direct Income Rec. IRIDirect Direct Direct Direct IRIDirect 735 3.747 735 17.406 1,561 33,490 1176 5.955 654 7,704 900 10,523 3,977 19,880 59 33.490 (176) 26,774 531 34,637 61.942 48,471 2.872,478 1,695.320 36.606 1,870,948 3,602,874 Governance Sialf & Associated costs Premises cosls Audit Actual Income Rec. Actual 34,254 1,049 3.645 44,314 1,357 4.095 49.766 78,568 2,406 7,080 88,054 75,942 2.809 6.460 85,211 {660) 16601 38.948 1.734.268 35,946 1,921,746 3,691.960 2,958,357 Support Services provides maintenance. financial SLJPPOrt and other services to all departmenls. The costs ol these seNices are recharged based on the initial budget sel oul at the teginning of the year. During the year Support Services also included rental incorne and the kickstart programme. Auditors remuneration The auditor's remuneralion amounts lo an audil fee of £7.080 {2023 - £6.460} Company Number 01429707 Page 21
ST PAUL'S COMMUNrrY DEVELOPMENT TRUST Limil d arantee NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 6. STAFF COSTS 2024 2023 Trust Staff Salaries & wages Social security costs Pension costs 1.754,995 131,788 67.798 1,591,526 120.575 71,310 1,954.581 1,783,411 Assoclated Costs Agency Secondments Recruilmenl External Provision Third Party Gosts 574,195 156,777 3,529 40.926 4,095 269.893 188,516 7,451 46,042 2,415 779,522 514,317 Total per Note 5 2,734,103 2.297.728 No. of employees who received remuneration of more than £60.000. 2024 No. 2023 Band £60,000 10 £69,999 The average number of employees during the year, calculaled on the basis of full lime equivalents was as follows.. 2024 No. 2023 Direct charitable work Management & adminislralion 87 80 96 89 No members of the Board of TTUStees received any remuneration during the year. Company Number 01429707 Page 22
ST PAUL'S COMMUNITY DEVELOPMENT TRUST Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 7. TANGIBLE FIXED ASSETS Improve- menls to propety Video & Furniture & computer equipment equipment Leasehold properties Motor vehicles Total Cost Al 1 st April 2023 Disposals Additions 724,903 1,939.236 11.221 (11,221} 55.994 187.619 18,236 2.881,215 (11,221) 138,071 36.404 45.673 Al 31 sl March 2024 761,307 1.939,236 55.994 233.292 18,236 3,008,065 Depreciation Al 1 sl April 2023 Depreciation on Disposal Charge for the year 203,783 1,722,545 11,091 111.0911 11,199 154,685 15,996 2.108,100 (11,0911 131,235 30,452 73,112 15,726 746 At 31 st March 2024 234,235 1,795,657 11.199 170.411 16,742 2,228.244 Net Book Value At 31 st March 2024 527,072 143,579 44,795 62,881 1,494 779.821 At 31 st March 2023 521.120 216,691 130 32.934 2.240 773.115 The leasehold propety is leased from Birmingham Cty Council. The school buildings are on a sile leased lor 99 years from 1 January 1997. The Venture, Children's Centre and Farm buildings are on a sile leased for 25 years from 23rd June 2000 and we have confirmalion from the Local Authorily that the lease will be extended. The buildings are insured for £5,820,000. 8. DEBTORS 2024 2023 Trade debtors Other deblors Prepayments Accrued income 527,695 289.231 48,856 5,886 70,067 181,486 582,437 540,784 9. CREDrroRS (AMOUNTS FALLING DUE WITHIN ONE YEAR) 2024 2023 Trade creditors Social security & taxes Accruals Other creditors Deferred income 175,918 28,925 247.367 16.060 602.044 99,773 27,515 215,335 88,420 762,129 1,070,314 1,193,172 Company Number 01429707 Page 23
NITY DEVELOPMENT TRUST Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 10. DEFERRED INCOME 2024 2023 Balance as al 1 sl April 2023 762,129 684,322 Transfer from Income & Expenditure account 602,044 762,129 Released lo Income & Expendilure account 762.129 684.322 Balance as al 31 sl March 2024 602.044 762.129 Deferred incorne relates lo funds received in advance for 202412025 Included within deferred income are several sources ol income which relate to projects slill in progress including donation5 01 £10,000 from 29th May Trust. £10.058 TelatirvJ lo Nursery which includes pupil premium. £568.089 on Health & Well-Being Projects, £2.685 for Out of School Easler funding. £4.699 fro Ihe Farm including funds raised froffl the break-in and £6,513 for other small projects. In line with the SORP paragraph 5.23, the Charity has recognised incoming resources only lo the exlenl Ihal the Charity ha5 met the terms or conditions imposed on rt. 11. LEASES 2024 2023 Operating Leases Total lulure minimum lease payments under non cancellable operating leases ale a5 lollows= Not later than one year Later than one year and nol later than live years Laler than live years 8,924 20,928 4,234 29.852 4,234 In addition lo the above, the charity has 99 year lease on Si Paul's School al an annual renl of £20,000. There is an elleclive option lo withdraw from the lease with reasonable notice. and for that reason. this commitment has not been disclosed above_ The Charity also has a 25 year lease on premises al Malvern Slreel, which is due to expire in 2025. The annual rent is £1.500. Again. Ihe charity has the option to wrthdraw with reasonable notice, and this commitment is not inclthjed above as a result. 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed Asset fund Designaled funds General fund Communtly fund Total funds Fund balances at 31 st March 2024 are represented by: Tangible lixed assets Current assets Current liabilities 131,816 648.134 779,950 1.681,239 11,070,314) 1.405.866 11.070.314 275,373 Total net assets 131.816 335.552 275.373 648.134 1.390.875 Company Nurnber 1429707 Page 24
ST PAUL'S NITY DEVELOPMEfrTh T Limited b Guarantee NOTES TO THE FINANCIAL TATEMENTS FOR THE YEAR ENDED 31 st IAAR 24 13. MOVEMENT IN FUNDS Balance Al 1st April 2023 Funds Ai31st March 2024 Incoming resources Resources expended Transfers Reslrlcted funds Community Fund Fixed Asset Fund 199,737 679,504 3.358.708 {3,191.755) 122,687 {91,3171 91,317 275.373 648,134 Total restricted funds 879.241 3,358.708 3,314.442 923,507 Unrestricted funds General Fund 373,865 377.282 1368,9701 {46,7541 335,423 Deslgnated Funds: Fixed Asset Fund 93.610 18.5481 46.754 131,816 Total unrestricted lunds 467,475 377.282 377.518 467,239 Total funds 1.346,716 3.735 990 3.691.960 1,390,746 Purposes of Restrlcted lunds The Comrnunity Fund represents culnI activities run by the Children's SeNces and School The Fixed Asset Fund has been set up to assist in identifying those funds that are not free funds and il represents Ihe nel book value of tangible assets vthich indudes the construction of the Children's Centre and refurbishment to other buildings including the refurbishment of the old Nursery which is now the Post 16 provision. Purposes of Unrestrlcted funds The General Fund represents the te funds of the charity which are not designated lor particular purF)oses. Company Nurnber 1429707 Page 25
ST PAUL. OMMUNITY DEVELOPMENT TRUST Limited b Guara NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 14. SUMMARY INCOME AND EXPENDITURE ACCOUTr Children and Famlly Services School Services Support Services Total 2024 Total 2023 Income 1.855.976 17.146 1,862.868 3,735,990 3,021.817 Expenditure 1,707.524 2.455 1,850,746 3.560,725 2,846.867 Incomel{expendilurel 175265 174 950 Depreclatlon 38.385 21.850 71,000 131.235 111.490 Net Incomellexpenditure) 110067 Cornpany Number 01429707 Page 26