REGISTERED COMPANY NUMBER: 01638939 (England and Wales) REGISTERED CHARITY NUMBER: 513001 Report of the Trustees and Financial Statements for the Year Ended 31 March 2024 for William Merritt Disabled Living Centre (A Company Limited by Guarantee) FORD CAMPBELL FREEDMAN
William Merritt Disabled Living Centre Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Report of the Independent Auditors ststement of Financial Activities Balance Sheet Cash Flow Statement 10 Notes to the Cash Flow Statement 11 Notes to the Financial Ststements 12
William Merritt Disabled Living Centre (Registered number: 01638939) Report ofthe Trustees for the Year Ended 31 March 2024 The trustees are also direcAors of the charity for the purwses of the Companies Act 2(M)6, present their report wth the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Chartties.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). OWECTIVES AND ACTIVITIES Objectives and actimtes The company has set the followng objectives for the charity. 1. To act as an independent centre ttIC provKles informab.on and advi on equipment for disabled people, carers and the professionals vtho rk wth them. 2. To provide an information service on how and where to get equipment. 3. To offer advice and guidan from trained staff who can derrK)nstrate a wide range of equipment for daily INing. 4. To organise education and training of the practical aspects of living a disability- The Centre incorporates the Leeds Mobility Centre providing a full assessment by therapists and Advanced Driving Instructors of the drwing capability of those people physically or otherwse impaired. In recent years, much Ork has been done in harnessing new technology to allow a whole range of electronic swtches to be added to conventional equipment, games and toys to enable them to be used by disabled children in their everyday environment. STRATEGIC REPORT Achievement and performance Strategic report The followng sections for achievements and Perf0rrrran and financial reviewform the strategic report of the charity. Achievements and performance The financial year saw the return of some normalty following three years badly affected by the Covid 19 pandemic and the national economic downturn. There was a sgnificant increase in the number of visrtor5 to the Centre for assessments and advice, ahOUgh we have yet to see a retum to the levels seen before the pandemic. One ofthe disappointing developments has been the number of last minute c2ncellations or clients not turning up for appointments at all, allowng no time in either case for the appointments to be reallocated and resulting in a significant loss of income through the year. Despite this, the Centre managed to meet its contract targets for all funders and managed to avoKI any claaCk from the Department of Transport contributing to an overall surplus. Progress in performance and outcomes is generally measured by the productsn of quarterly Key Performan Indicators by the General Business Manager whh are revie bythe trustees in board meetings. Going forward, we shall continue wth the development of the Mobility Service in the outreach offices in Sheffield and York, wth the intention of adding further outreach sites in Doncaster and Scarborough during the o)ming year. Al showng gtx)d grh through the year has been the secnnd Shopmobilty unit in the White Rose Centre lch has significantly overtaken the performance of the Merrion Centre unit which has been established foi a number of years. Funding for the Merrion Centre unit has now ended resulting in its closure. The Centre continued to be supported by a number of volunteers across a range of actNities. In general terms, the Centre's fundamental principles remain the same and much of the (3rried out by S staff by way of assessment and provision of advice and information is free of charge to the recipienL This highlights, and is eviden of, the considerable public benefit derived from the Centre. Page 1
William Merritt Disabled Living Centre (Registered number: 01638939) Report ofthe Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Financial review Financial position Income- in addition to the revenue grants from our tocal funding bodies. NHS Leeds and Leeds City Council, a significant source of the Centre's income is derived from the activities of the Mobility Service. I n addition to a grant from the Department of Transport of £ 614,099. assessmentfees income totalled £161,136. Expendrture - staff costs of £710,731 conts.nued to be the main item of expenditure. Other o)sts ere spread across the renting and maintenance of Aire House and the outlets in Sheffield and York. Additional costs were involved in the administration of the centre's activities and the financial support required for the Mobilty se[vi and the provision of the courses run from the Centre. There was an overall operating surplus of £64,490 for the year lCh is a welcome additK)n to the Centre's reserves. The Centre remains in a strong financial position enabling Tt to continue to operate and setve the community, helped by the continued support from our funding iK)dies WYICB. LCC 2nd Dft. The Centre's remuneration policy is aimed at endeavouring to maintain party wth similar organisations by providing annual salary increments wthin affordable levels and better pension provision than the legal requirements under current government guidelines. Reserves policy The trustees have examined the charitys requirements for reserves in the light of the main risks to the organisation. It has established a policy thereby the unrestsicted funds held should be a minimum of six months staff costs based on the budgeted expenditure for the following year. The figure for staff costs for 2024125 is expected to be in the region of £900,000. This policy wll provide time for the trustees to source new forrrts of income or reduce costs should there be a significant and unexpected reducts'on in part of the core funding. Results The directorsftrustees are only permtied to use the charivs assets solely towards the promotion of the obJectNes of the charity. Future plans The aims of the Centre wll focus around the core Vrk involving the provision of information and advice on equipment and services available to disabled people. The trustees wll continue to look at ways of strengthening the return from the core business actleS and also seekt'ng alternative Sour of income, wth the aim of adding to the reserves to ensure the long-term continuity of the Centre. A new initiatNe has been agreed with the Department of Transport wth funding of £30K pa over three years. The objective is to identfy a range of serVeS to increase client independence and reduce isolation and loneliness for older and disabled people, pathularly for those tho are advised against driving. The project is almost through its second year and we are looking fomBfd to a report on progress made. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by rts governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2C(16. The organisation is a charrtable cnmpany limed by guarantee. in(x)rporated on 28 May 1982 and registered as a charity on 20 August 1982. The company established under a Memorandum of A&8ociation lch estsblished the objects and powers of the Charable company and is governed under its Artides of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Page 2
William Merritt Disabled Living Centre (Registered number: 01638939) Report ofthe Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The directors of the company are also charty trustees for the purwse of charty law and under the company's Articles are know as trustees. Under the requirements of the Mermrandum and Articles of Association all of the trustees are required to retire at each annual general meeting and offer themselves for re-election. All policy, strategic and financial decisions are made by the trustees. Day-to-day management of the Centre is devolved to the General Business Manager tho also has responsibilty for the line-management of the &aff. The trustees may appoint a person is willing to act to be a trustee either to fill a vacancy or as an addlOnal trustee. Appointments are made based on the skills, knowledge and experience required to ensure the charty is well governed. New trustees are given an induction pack and spend time wth the organisation. Trustees meet monthly 2nd are expected to use their influence in the wder community to further the aims ofthe Centre. Risk management The trustees have conducted 2 review of the major risks to which the charity is exposed. A risk register has been drawn up 2nd knrill be updated at least annually. Where appropriate. systems or prdureS have been established to mitigate the risks the charity faces. REFERENCE AND ADMINISTRATIVE DAlLs Registered Company number 01638939 (England and Wales) Registered Charity number 513001 Registered office Aire House 100 Town Street Rodley Leeds LS13 1HP Trustees R Beverley-stevenson D A Br Treasurer Professor M A Chamberlain OBE M M Faulkner Dr P D Ghosh T W Mcdonnell (resigned 2411112023) K Murray K Preston N M Prior A G Pugh (appointed 411212023) D Sutcliffe (appointed 281412023) E Ward (appointed 411212023) J Spencer Auditors Ford Campbell Freedman Limited Chartered accountant & statutory auditor 2nd Floor 33 Park Place Leeds LS12RY STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (0 are also the directors of William Merritt Disabled Living Centre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in aC0)rdan wth applicable law and United lQngdom Accounting Standards (Untted Kingdom Generally Aepted Ac£ounting Practice). Page 3
William Merritt Disabled Living Centre (Registered number: 01638939) Report ofthe Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES- continued Company law requires the trustees to prepare financial statements for each financial year lch give a true and fair view of the state of affairs of the charitsble company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that perK)d. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent.. state whether applicable accounting standards have been follo, subject to any material departures disclosed and explained in the financial ststements", prepare the financial ststements on the going conrn basis unless it is inappropriate to presume that the charitable company wll continue in busine&s. The trustees are responsible for keeping proper accounting records lch disclose wth reasonable accuracy at any time the financial position of the charttable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charttable company and hence for takn'ng reasonable steps for the prevention and deteth'on of fraud and other irregularities. In so far as the trustees are aware". there is no relevant audft information of which the charitable companys audrtors are unare.. and the trustees have taken all steps that they ought to have taken to make themselves aare of any relevant audit information and to establtsh that the auditors are avrdre of that information. AUDITORS The auditors, Ford Campbell Freedman Limited, wll be prowsed for re-appointment at the forthcoming Annual General Meeting. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, 02112124 on............................................. and sned on the board's behalf by.. DABruce jDec 2, 2024 14:52 GMT) D A BrU- Trustee Page 4
Report ofthe Independent Auditors to the Members of William Merritt Disabled Living Centre Opinion We have audited the financial statements of William Merritt Disabled Lwing Centre (the 'charttable companty) for the year ended 31 March 2024 which comprise the StaterrEnt of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparatK)n applicable law and United 'ngdoM Ac(L)unting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial ststements.. gwe a true and fair view of the state of the charitable company's affaits as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordan with Unrted Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan wth Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibiltties under those standards are further described in the Audrtors, respon&bilities for the audit of the financial ststements section of our report. We are independent of the charitsble company in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilits.es in a(x0rdan th these requirements_ We believe that the audit evidence we have obtained is sufficient 2nd appropnate to provKle a basis for our opinion_ Conclusions relating to going concern In auditing the financial ststements, we have concluded that the trustees, use of the going COnrn basis of accounting in the preparation of the financial statements is appropriate_ Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, indwidually or o)Ilectively, may cast &gnificant doubt on the charitable companvs ability to C£)ntinue as a going concern for a period of at least e1ve months from en the financial statements are authorised for issue. Our responsibilities and the restx)nsibilities of the tTUStees respect to going concem are derIbed in the relevant sections of this report. other inforniation The trustees are responsible for the other information. The other information compnses the information included in the Annual Report, other than the financial statements and our Retx)rt ofthe Independent Auditors thereon. Our opinion on the financial statements does not cover the other informab.on and, except to the extent otherwse explicitly stated in our report, we do not express any form of assurance cxjnclusion thereon. In connection wth our audtt of the financial statements, our responsibilty is to read the other information and, in doing so, consider whether the other information is materially InnsIStent wth the financial statements or our knoedge obtained in the audit or otherwse appears to be materially misstated. If identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, conclude that there is a material misstatement of this other information. are required to report that fact. We have nothing to report in thks regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the rk undertaken in the (x)urse ofthe audit the information given in the Report of the Trustees for the financial year for lch the financial statements are prepared is consistent wth the financial statements., and the Report of the Trustees has been prepared in aOrdanCe wth applicable legal requirements. Page 5
Report ofthe Independent Auditors to the Members of William Merritt Disabled Living Centre Matters on which we are required to report by exception In the light of the knoedge and understanding of the charitable company and its environment obtained in the course of the audit, have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters ere the Companies Ao 20( requires us to report to you if, in our opinion". adequate accounting records have not been kept or retums adequate for our audrt have not been receNed from branches not visited by us., or the financial statements are not in agreement Vith the accounting records and retums,. or rtain disclosures of trustees, remuneration specrfied by law are not made., or e have not receNed all the information and explanats'ons require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, ResFJ)nsibilities, the trustees (tho are also the directors of the charitable company for the purposes of company la are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair VEW, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. thether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable cxjmpany's ability to o)ntinue as a going concern, disclosing, as applicable. matters related to going concern and Ltsing the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectwes are to obtain reasonable assurance about ether the financial statements as a ole are free from material misstatement, thether due to fraud or error, and to issue a Rewrt of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with ISAS (UK) wll aWdyS detect a material misstatement en it exists. Misstatements can arise from fraud or error and are considered material rf, indNidually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statement& Irregularrties, including fraud, are instances of non-compliance laws and regulations. We design prO(dureS in line wth our responsibilles, outlined above, to detect material misstatements in respect of irregtjlarities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. While planning our audtt, we have made enquiries of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance wth specrfic law5 and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses re1Ve have been communicated wth the engagement team at the planning stage. We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularkn'es reported to the us. While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audrt and the team are allocated based on their competence and capabilities. The audit work undertaken is a substantive w)rk bad audit approach, reviewing to source documentstion where appropriate and includes a review and w2lkthrough of the systems vthich management have put in place. These tests are directional. Therefore, they are designed in a to maximise audit effectwene&8 2nd the possible identification of any material fraud, irregularities, or instances of systems and prCedUre breaches. Our testing did not identify any issues that requires any additional reporting. These tests and other areas of our audf( work are designed to enhan our ability to detect cases of material fraud and certain irregulartties. It should be noted that our audlt is (3rried out using a material based approach and therefore does not test every transaction, as such, it )Uld not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect. A further description of our responsibiltties for the audit of the financial statements is located on the Financial Reporting Council's website at .frC.0rg. uklauditorsresponsibilities. This description forms part of our Report of the Independent Audttors. Page 6
Report ofthe Independent Auditors to the Members of William Merritt Disabled Living Centre Use of our report This report is made solely to the charitable companvs members, as a body, in accordance th Chapter 3 of Part 16 of the Companies Act 2006. Our audrt Vrk has been undertaken so that we might state to the charitable companvs members those matters we are required to state to them in an audrtors, report and for no other purpose. To the fullest extent permitted by law, we do not a(Lept or assume responsibilty to anyone other than the charilable company and the charitable ompanvs rTEmbers as a body. for our audit w)rK forthis rew)rt. or for the opinions we have formed. Dale Coleman (Dec 2, 2024 15:08 GMT) Dale Coleman FCA (Senior Statutory Audttor) for and on behalf of Ford Campbell Freedman Limited Chartered awountant & statutory auditor 2nd Floor 33 Park Place Leeds LS1 2RY 02112124 Date". Page 7
William Merritt Disabled Living Centre Statement of Financial Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 16.486 16.486 11,132 Charitsble activities Direct charitable actr4tties Driving assesments fees. courses & exhibitK)ns and shop mobility costs 1.088.548 94,357 1.182,905 1,108,099 19.584 19,584 Other trading activities Investment income 2,479 10,199 13.520 13,520 Total 1,138.138 94,357 1,232,495 1,131,909 EXPENDITURE ON Raising funds 14.322 14.406 8,193 Charitable activities Direct charrf(able actNtties Driving assesments fees. courses & exhibrttons and shop mobility costs 940,053 99,424 1,039,477 953,796 104.149 104.149 151,040 Total 1.058.524 99,508 1.158.032 1,113,029 Net gain{losses) on investments (9.974) [9.974) (43,452) NET INCOMEI(EXPENDITURE) (5.151) 64.489 (24,572) RECONCILIATION OF FUNDS Total funds brought foward 571,677 33,194 604,871 629,443 TOTAL FUNDS CARRIED FORWARD 641.317 28,043 669.360 604,871 The notes form part of these financial statements Page 8
William Merritt Disabled Living Centre (Registered number: 01638939) Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fund fund Notes FIXED ASSErs Tangible assets Investments 13 14 102,054 297,482 102,054 297,482 95,435 307,456 399,536 399,536 402,891 CURRENT ASSETS Debtors Cash at bank 15 82.380 229.514 82,380 257,557 66,667 198,400 28,043 311.894 28,043 339,937 265,067 CREDITORS Amounts falling due wthin one year {46.736) (46.736) [39,710) NET CURRENT ASSETS 265.158 28,043 293.201 225,357 TOTAL ASSETS LESS CURRENT LIABILITIES 664.694 28.043 692.737 628,248 CREDITORS Amounts falling due after more than one year 17 (23.377) (23.377) (23,377) NET ASSETS 641,317 28,043 669,360 604,871 FUNDS Unrestricted funds Restricted funds 19 641,317 28,043 571,677 33,194 TOTAL FUNDS 669,360 604,871 02112124 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by". D4Eruce IDec 2. £C24 14:52 GMT) D A BrucE- Trustee The notes form part of these financial statements Page 9
William Merritt Disabled Living Centre Cash Flow Statement for the Year Ended 31 March 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operatK)ns 80,011 [69,533) Net cash provided byl(used in) operating actNrties 80,011 [69,533) Cash flows from investing activities Purchase of tangible fiKed assets Purchase of fixed asset investments Sale of tsngible fExed assets Interest received (39,150) 118,136) (72,916) 4,776 13,520 10,199 Net cash used in investing actwtties (20,854) (80,853) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 59,157 (150,386) 198,400 348,786 Cash and cash equivalents at the end of the reporting period 257,557 1g8,400 The notes form part of these financial statements Page 10
William Merritt Disabled Living Centre Notes to the Cash Flow Statement for the Year Ended 31 March 2024 RECONCILIATION OF NET INCOMEI{EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomel{expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Losses on investments Proftt on disposal of fixed assets I nterest recewed Increa* in debtors I ncreasel(decrease) in creditors 64.489 (24,572) 31,421 9.974 {3,666) (13.520) {15,713) 7.026 23,760 43,452 (10,199) (27,529) [74,445) Net cash provided byl(used in) operations 80,011 169,533) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank 198,400 59.157 257,557 198,400 59,157 257,557 Total 198,400 59.157 257,557 The notes form part of these financial statements Page11
William Merritt Disabled Living Centre Notes to the Financial Statements for the Year Ended 31 March 2024 GENERAL INFORMATION The Charity is a public benefit entity and a prNate company limlted by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Aire House, 100 Town Street, Rodley, Leeds, LS13 1 HP. The presentation currency of the financi21 statements is the Pound &erling (£)- statement of compliance These financial statements have been prepared in compliance wth FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland.. the Statement of Recx)mmended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of I reland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. ACCOUNTING POLICIES Basis of preparing the financial statements The financial ststements of the Charable company. lCh is a public benefit entity under FRS 102, have been prepared in accordance with the Charrties SORP (FRS 102) 'A(oUntIng and ReportJ"ng by Ch2rrties.' Statement of Recommended Practice applicable to charfties preparing their a(xounts in acxordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard aPpIable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the hiStOral cost convention, with the exptIOn of investments lch are included at market value, as modrfied by the revaluation of rtain assets. Going concern There are no material uncertainties aUtthe charitys abilty to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make JLtdgernents, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including eXpectatnS of future events that are believed to be reasonable under the Circumstan5. Income All incoming resources are included in the statement of financial actNrties then entitlement has passed to the charty,. it is probable that the economtc benefrts associated wth the tranSactn wll flow to the charity and the amount can be reliably measured. The followng specific policies are applied to particular categories of Inme.. income from donations or grants is recognised when there is evKlerice of entitlement to the gift, receipt is probable and rts amount can be measured reliably_ legacy income is recognised when leipt is probable and entitlement is established. income from donated gcods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derNed from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts wknen received if the value o3n be reliably measured. No amounts are included for the contributK)n of general volunteers. InMe from contracts for the supply of services is recognised wth the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in vthich case rt may be regarded as restricted. Expenditure Expenditure is reo)gnised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT lch cannot be fully recovered, and is classified under headings of the statement of financial activities to thich it relates.. Page 12 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Expenditure expenditure on raising funds includes the costs of all fundraising actwth-es, events, non-charrtable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charty in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support 5t5 and costs relating to the governance of the charty apportioned to charitable actwities. other expenditure includes all expenditure that is nerther related to raising funds for the charity nor part of rts expendrture on charrtable actwrties. All costs are allocated to expenditure categories reflecting the use of the resour. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are appoth'oned btheen the activities they contribute to on a reasonable, Justifi'able and consistent basis. Tangible fixed assets Tangible assets are initially recorded at Cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value over the useful economic life of that asset as follow5". Leasehold improvernents Fixtures and ftttings Motor vehicles Computer equipment 20% straight line 10% straight line 33% straight line 20% straight line Investments Listed investments are measured at fair value 1th changes in fair value being recogni5ed in profit or loss Fund accounting Unrestricted funds can be used in accordan with the tharitable objec*ives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes wthin the objects of the charity. Restrictions arise when specified by the donor or Nthen funds are raised for partUlar restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Defined contribution plans Contributions to defined contribution plans are re(Jwnised as an expense in the period in lch the related service is provided. Prepaid o)ntributions are recognised as an asset to the extent that the prepayment wll lead to a reduction in future payments or a cash fefund. Page 13 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Donations 16.486 11,132 OTHER TRADING ACTIVITIES 2024 2023 Fundraising events 2,479 INVESTMENT INCOME 2024 2023 Deposit account interest National savings income bonds UK Gilts income 573 1.991 10,956 141 785 9,273 13,520 10,199 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 ActNty Direct charitable actNities Direct charrtable actwrties Direct charrtable actriities Direct charrtable actwrties Direct charrtable actNities Driving assesments fees. courses & exhibrtions and shop mobilty costs Revenue grants DEtR grant Driving assessment fees Courses and exhibitions Shop mobilty 224,857 614.099 161,136 48.096 134,717 221,961 555,215 160,948 53,161 116,814 DR grant 19.584 1.202.489 1,108,099 RAISING FUNDS Raising donations and legacies 2024 2023 Promotions and marketing 14,406 8,193 Page 14 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 CHARITABLE ACTIVITIES COSTS Support costs (see note 9) Direct Costs Totals Direct charitable actiVFties Driving assesments fees, courses & exhibitions and shop rbilIty costs 27.899 1.011.578 1,039,477 104,149 104,149 132,048 1.011,578 1,143,626 SUPPORT COSTS Governance costs Management Totals Direct charitable activrties 962,677 48.901 1.011,578 10. INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)'. 2024 2023 Auditors, remuneration Depreciation - owned assets Surplus on disposal of frKed assets 9.630 31,421 {3.666) 6,480 23,760 TRUSTEES. REMUNERATION AND BENEFITS There vEre no trustees. remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees. expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 12. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 622.170 53,440 35.121 600,824 54,843 34,950 710.731 690,617 The average monthly number of empk)yees during the year was as folk)w5." 2024 26 2023 26 Number of staff No employees re1ved emoluments in excess of £60,OQKJ. Page 15 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 13. TANGIBLE FIXED ASss Fixtures and fittings Long leasehold Motor vehicles Computer equipment Totals COST At 1 April 2023 Additions Disposals 380.131 51.498 TT,420 39,150 (7,700) 21.128 530,177 39,150 (7,700) At 31 March 2024 380,131 51,498 108,870 21,128 561,627 DEPRECIATION At 1 April 2023 Charge for year Eliminated on disposal 334,531 2.280 42.968 2.079 46,188 23,914 (6,590) 11.055 3.148 434,742 31,421 (6,590) At 31 March 2024 336,811 45,047 63,512 14,203 459,573 NEf BOOK VALUE At 31 March 2024 43,320 6.451 45,358 6.925 102,054 At 31 March 2023 45,600 8,530 31,232 10,073 95,435 14. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 April 2023 Revaluations 307,456 (9,974) At 31 March 2024 297,482 NEf BOOK VALUE At 31 March 2024 297,482 At 31 March 2023 307,456 There were no investment 2&8ets outside the UK. Cost or valuation at 31 March 2024 is represented by.. Listed investments Valuation in 2024 297,482 There were no investment 2&8ets outside the UK. Page 16 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 15. DEBTORS: AMOUNTS FALLING DUEWITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments and accrued income 45.846 174 36.360 31,499 100 35,068 82.380 66,667 16. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors Accruals and deferred in(L)me 8.427 6,429 31.880 4,162 904 34,644 46.736 39,710 17. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Other creditors 23.377 23,377 18. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follow5.. 2024 2023 wrthin one year Beeen one and five years 48.000 72,000 33,000 48,000 105,000 19. MOVEMENT IN FUNDS Net movement in funds At 1.4.23 At 31.3.24 Unrestricted funds General fund 571,677 69,640 641,317 Restricted funds Shop Mobility 33,194 {5.151) 28,043 TOTAL FUNDS 604,871 64.489 669,360 Page 17 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 19. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follow5.. Incoming Resources resources expended Gains and Movement losses in funds Unrestricted funds General fund 1.138.138 (1.058,524) (9.974) 69,640 Restricted funds Shop Mobility 94,357 (99,508) {5,151) TOTAL FUNDS 1.232.495 (1.158,032) {9.974) 64,489 Comparntives for movement in funds Net movement in funds At 1.4.22 At 31.3.23 Unrestricted funds General fund 626.190 (54,513) 571,677 Restricted funds Shop Mobility 3,253 29,941 33,194 TOTAL FUNDS 629,443 (24,572) 604,871 Comparative net movement in funds. included in the above are as follow5". Incoming Resources resources expended Gains and Movement losses in funds Unrestricted funds General fund 1,015,095 (1,026,156) (43,452) (54,513) Restricted funds Shop Mobility 116,814 (86,873) 29,941 TOTAL FUNDS 1,131,909 (1,113.029) (43,452) 124,572) Restricted fund This restricted fund relates to a new revenue stream for the charity, a grant is receivable from Leeds Cty Council and all other income and expendrture relating to this service is to be restricted. Page 18 continued...
William Merritt Disabled Living Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2024 20. EMPLOYEE BENEFIT OBLIGATIONS The amount recognised in income or expenditure as an expense in relan to defined contribution plans £35,121 (2023. £34,950). 21. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 19