PRIORITY MANAGEMENT LIMITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE ST YEAR ENDED 31 MARCH 2025 Company Number: 01967563 Charity Number: 702851
PRIORITY MANAGEMENT LIMITED CONTENTS Page Chairfs Report Trustees, Annual Report Statements of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10
PRIORITY MANAGEMENT LIMITED CHAIR'S ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 This has been another challenging year financially but one where we have been able to: continue offering life changing voCatial opportunities, develop our food offer develop and build our community intemet drop in. We continue to explore opportunities provided by the realisation of the value in our maln asset with a view to setting the Charity on a stronger footing going forward. A more detailed look at our activities is below. VOCATIONAL TRAINING Having introduced Residential Care to support a local young person, our suit of courses remains the same. The bespoke delivery method continues to remove barriers and provide employment opportunities for people who would not otheNiise be able to aCss. Pleasingly our progression to employment stands at 78°/o of all starters and our BME participation at 59% with 84% of our students from disadvantaged post codes. All of these indicators are ahead of our targets for the year. We are particularly pleased with the increased take up by members of BME communities which has resulted from targeted recruitmenl. Towards the end of the year a challenging and aggressive OFSTED inspection has found us needing to make some changes. which are well in hand. We await a further visit to confirm this. Despite this we are very pleased that we continue opportunities for economic inclusion and the chance far individuals to progress from entry level employment. Since Covid recruitment has reduced and become slower but we continue to recruit through word of mouth and the internet. COMMUNITY FOOD Thanks to the legacy of the one-off funding boost provided by the Government's Cost of Living grant, the purchase of a large chiller cabinet has enabled us to widen the range of food collected. Picking up from Tesco's three evenings a week we are now able to accept chilled Items. Thls is all part of the Fareshare collaboration. A further benefit resulting from the Cost-of-Living grant was the creation and equipping of a new, small commercial kitchen. This has allowed our volunteer cooks to provide homemade soups using the Tesco donated food. We have supplied these soups to a local homeless shelter weekend project along with our users and community. In a further development we are looking forward to implementing a food pantry offering good value for money purchases. This will commence once we have secured a contract with Fareshare and will be funded by a Feeding Liverpool grant.
PRIORITY MANAGEMENT LIMITED CHAIR'S ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 DINGLE ONLINE Our free provision of intemet aCsS continues for mernbers of the community. The capital grants from Liverpool City Region and VOLA. has allowed us to upgrade our technology whlch has enabled us to offer more advanced activity for those wishing to explore or take advantage. We continue to have a regular cohort of users with others calling in as they need support. Similar to previous years this has included a wide range of IT based needs from booking flights to improving English. Our volunteers have also supported people with their own technical needs on their phones, tablets, laptops and Pc's. Our online status and membership of the Good Things Foundation has brought free tablets along with free internet access on them through donated sim cards. This has enabled improved communlcation with family and fn.ends from home for local people. We have continued to support people with appeals via H.M. Court and Tribunal Service through our arrangement with the "We Are group" a national body providing digital assistsnce through it's satellite centres of which we are one. COMING YEAR Wejo forward to another exciting year albeit serving our community and thank all our volunteets, trustees and staff for their continued support without which none of our work would be John Hughes Chair Priority Management Ltd.
PRIORITY MANAGEMENT LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 The Trustees are pleased to present their annual report for the year ended 31 St March 2025. The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published (FRS 102) as amended for accounting periods commencing from 151 January 2019. OBJECTIVES AND ACTIVITIES Established in 1985, the aim of the charitable company is to advance the vocational preparation, training, and education of unemployed or employed people primarily from Liverpool. This built upon work started in 1979 when providing work experience opportunities for local young adults. The charitable company has also provided support and accommodation for other community organisations. The charitable company continues to use the Adult Learner Loan facility. which has enabled us to assist adults wishing to enter teaching assistant or early years work. Encouragingly this is still providing employment opportunities and in doing so, is offering life-changing opportunities for people, many of whom had been out of the workplace for an extended period, whilst raising their families. We continue to attract single parents with the majority coming from areas of deprivation and our courses frequently make a significant impact on family finances with 780/0 going to employment. FINANCIAL REVIEW Total Income for the year was £65,793 (2024: £123,188) of which £28,130 (2024: £71,561), related to funding for projects upon which restrictions are placed. Total expenditure for the year was £97,132 (2024: £115,517), leaving a defIt for the year of £31,339 (2024: surplus £7,671) before gain on investment assets. At 315t March 2025 the charitable company's reserves stood at £153,034 (2024: £184.237) of which £29,643 (2024: £23,172} represented restricted funds. Risk Management The main risks to which the charitable company is exposed as identified by the Trustees have been considered and systems have been established to mitigate those risks. Reserves Policy It is the policy of the charitsble company to maintain free reserves (unrestricted funds not represented by fixed assets) at a level to cover redundancy provislon and one month's running costs should no further funding be received. At the end of the financial year, unrestricted funds totalled £123,391 of which £154,720 is represented by fixed assets, leaving a deficit reserve of £31,329 (2024: deficit £3,204). The charitable company requires £20,306 for redundancy provision and £6,289 for one month's running costs, (total £26,596). The charitable company will be seeking to build free reserles in the coming year through reducing costs and increasing sources of Income.
PRIORITY MANAGEMENT LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Priority Management Limited (also known as Riverside Learning and Education Centre) is a charitable company, limited by guarantee, registered on 2nd December 1985 (company number 01967563) and registered as a charity with the Charity Commission on 1st May 1990 (charity nLJmber 702851). The Governing Instruments under which the charitable company operates comprise of the Memorandum and Articles of Association dated 2nd December 1985 and revised by special resolution on 2nd March 1988. It is managed by an Executive Committee of Trustees. REFERENCE AND ADMINISTRATIVE DETAILS Prlority Management Limited 01967563 Name Company number Charlty number Registered Office 702851 Riverside Learning & Education Centre. Hyslop Street, Liverpool, England, L8 SUA The Board of Trustees are also its directors. Members are elected by Annual General Meetings of the members of the council in accordance with the Articles of Association. Board of Trustees Trustees J Hughes M Taxman N P Turner Company Secretary Independent Examlner L Bennett Ying Huang ACCA LCVS, 151 Dale StreeL Liverpool, L2 2AH Bankers HSBC City Branch, 99-101 Lord Street, Liverpool L2 6PG behalf of the Board of Trustees es, Trustee Date
PRIORITY MANAGEMENT LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES Company law requires the Trustees (who are also the Directors for the purposes of company law), to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Trustees should follow best practice and: select suitable accounting policies and then apply them consistently,. observe the methods and principle in the Charities SORP; make judgements and estlmates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inapproprlate to presume that the charitable company will continue as a going concern; state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published (FRS 102) as amended for accounling periods commencing from 1st January 2019. By Order Board, es Trustee Riverside Learnlng & Education Centre, Hyslop Street. Liverpool, England. L8 SUA Date:.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRIORITY MANAGEMENT LIMITED I report on the accounts of the charitable company for the year ended 31st March 2025, which are set out on pages 8 to 20. Res ective The Trustees (who are also the Directors of the company for the res onsibilities of purposes of company law) are responsible for the preparation of trustees and examiner the accounts. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, and to state whether particular matters have come to my attention. Basis of inde endent My examination was carried out in accordance with general examiner's statement Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charitable company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the ststement below. Inde endent In connection with my examination, no matter has come to my examiner's statement attention: (1) which gives me reasonable cause to believe that in, any material respect. the requirements: to keep accounts.ng records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the rnethods and principles of the Statement of Recommended Practice: Accounting and Reporting Charities have not been met; or {2) to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Ying Huang Relevant professional qualification or body: ACCA Address: LCVS 151. Dale Street, Liverpool. L2 2AH Dated: ..io/,:.l.. ?w34
PRIORITY MANAGEMENT LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2025 Notes Unrestrlcted Restrlcted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 3a 3b 1,754 28,161 7,665 83 1,754 56,291 7,665 83 1,453 113,876 7,818 41 28,130 3d Total Income 37,663 28,130 65.793 123,188 Expenditure on: Charitable activities 75,473 21,659 97,132 115,517 Total expenditure 75,473 21.659 97,132 115,517 Net expenditure {37,810) 6.471 (31,339) 7,671 Gain(losses) on investments assets 136 136 28 Net Movement in funds (37,674) 6,471 {31,203) 7,699 Total funds brought forward 10. 11 161,065 23,172 184,237 176.538 Total funds carried forward 9-11 123,391 29,643 153,034 184,237 The notes on pages 10 to 20 form part of these accounts. All the above amounts relate to continuing activities of the charitable company.
PRIORITY MANAGEMENT LIMITED BALANCE SHEET AS AT 31ST MARCH 2025 Company Number: 01967563 Notes 31st March 2025 31$£ March 2024 Flxed assets Tangible fixed assets Investments 158,278 494 169,580 358 158,772 169,938 Current assets Debtors Cash at bank and in hand 1,866 17,596 1,740 25,069 19,462 26,809 Current liabilities Creditors.. amounts falling due withln one year (25,200) (12,510) Net current assets (5.738) 14,299 Total assets less current liabilitles 153,034 184,237 Funds: Unrestricted funds Restricted funds 9,10 9,11 123,391 29,643 161,065 23,172 153.034 184,237 These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). These accounts have been prepared in accordance with the provisions applicable to small companies subject to the srnall companies. regime and in accordan with FRS102 SORP. For the period covered by these accounts the charitable company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The Trustees, who are the Directors of the company. acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the aration of financial statements. d by the Board on: ££ Date
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 1. Llmlted Liability The charity is a company limited by guarantee. Each memberfs liability is limited to £1. 2. Accounting Policies The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance w'rth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) as amended for accounting periods commencing from 151 January 2019 and Charities Act 2011 and the Companies Act 2006. The accounts are prepared in sterting, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The charitable company has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At the time of approving the accounts. the Trustees have a reasonable expectation that the charitable company can build up the reserves to the required level to continue in operational existence for the foreseeable future. The Trustees are confident that the levels of liquidily and reserves will not affect the charity's operations. Thus, the Trustees continue to adopt the going conrn basis of accounting in preparing the accounts. Fund accountlng Unrestricted funds are the charitable company's free reserves available for the Trustees to apply in accordance with the charitable company's charitable objectives. Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund. Income recognition All income is recognised once the charitable company has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received. and the amount of income receivable can be measured reliably. Donations and legacies comprise of donations which are recognised in the accounts when received, with the exception of known legacies which are accounted for when their receipt is certain. Income from charitable activities is Tecognised on an accrual's basis except for grants receivable, which are recognised on the date on which their uncondltional payment is confirmed by the donor. Income from other trading activities relates to rent contribution and is recognised when the amount is certain. Income from investment relates to bank interest received and dividends and is recognised when the amount is certain. -10-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Expendlture recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to" unrestricted funds unless specifically included in the restrictions, as specified by the donor. Expenditure on charitable activities relate to the operation of the charitable company comprising of direct charitable expenditure to meet the objectives of the charttable company. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charitsble company. Fixed Assets Capital expenditure of £500, or increase of freehold property and land, valuation and above Is stated in the balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost of each asset over its expected useful life as below: Freehold Property 4 % per annum stralght line on buildings Fixtures, Fittings & Equipment 33 % per annum reducing balan Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with orlginal maturities of three months or less, and bank overdrafts. Financlal instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are reGognised in the charitable CoMpanS balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transactlon, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classlfied as receivable withln one year are not amortised. -11-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Basic financial Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument Is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Derecognltlon of flnancial liabilities Financial liabilities are derecognised when the charitable company's contractual obligations expire or are dlscharged or canlled. Critical accounting estimates and judgements In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estlmates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Taxatlon Income and gains are exempt from taxation as they are reiVed and applied for charitable purposes only. The charitable company benefits from various exemptions from taxation afforded by tax legislation and are not liable to corporation tax on income or gains falling within those exemptions. 3. Income and endowments from: Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 a. Donatlons and Legacies: Donations 1,754 1,754 1,453 Donations and legacies income for 2024 related wholly to unrestricted funds. -12-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 b. Charitable actlvltles: Alternative education Programme Citizens Advice Liverpool LCVS Community Impact Fund Local Giving National Lottery Awards for All National Lottery Community Fund Vocational Training UK Shared Prosperity Fund We Are Digital 1,545 1,545 8,157 3.946 8.157 2,237 1,500 500 9,984 19,973 19,973 46,063 38,264 11,277 105 26.616 26,616 28,161 28.130 56,291 113,876 Income from charitable activities in 2024 comprised £42,315 unrestricted funds and restated £71 ,561 related to restricted funds. c. Other trading actlvities: Rent contribution 7,665 7,665 7,818 Other trading activities income for 2024 related wholly to unrestricted funds d. Investments: Bank interest & Dividends 83 83 41 Investments income for 2024 related wholly to unrestricted funds 4. Expenditure on charitable activities Dlrect Support & Charltable Governance Expenditure Costs Total Total 2025 2024 Provision of education and training 80,896 16,236 97,132 115,517 -13-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 . Analysed as follows 2025 2024 Direct Charitable Expenditure.. Staff salary costs Freelance tutors Activities Volunteer expenses Running costs Travel Costs Course fees Depreciation 50,132 49,610 2,200 13,722 1,760 18.067 1,326 4,996 8.800 6,429 11,035 3.751 9,549 80.896 100,481 2025 2024 Support & Governance Costs.. Staff salary costs Office Costs Bank charges Companies House filing fee Marketing Subscriptions and memberships Insurance DBS fees Payroll fees Accou ntancy Loss on disposal of fixed assets Depreciation 4,371 2,152 71 4,235 2,883 13 504 312 4,929 151 487 990 82 346 854 47 5.269 149 530 1,040 1.753 16,236 15.036 Total charitable activities 97,132 115,517 £21,659 (2024: £50.172) of the above expenditure relates to restricted funding. b. Staff Costs 2025 2024 Staff salaries Social security costs Pension 54,503 53,845 54,503 53,845 -14-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2025 c. Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2025 2024 Charitable activities No employee received emoluments of more than £60,000 during the year. The Trustees were not remunerated for their services during the year (2024: £nil) and are not included in the above number of employees. No out-of-pocket expenses were reimbursed to trustees during the year (2024: £nil). 5. Tanglble flxed assets Freehold property Fixtures. Fittings & Equipment Total Cost or revaluation As at 1st April 2024 Additions Disposals 250,000 13,345 263,345 Balance as at 31st March 2025 250,000 13,345 263,345 Accumulated Depreciation As at 1st April 2024 Charge for the year Disposals 88,001 8.800 5,764 2,502 93,765 11,302 Balance as at 31$t March 2025 96,801 8,266 105,067 Net Book Valu8 at 31st March 2025 153.199 5,079 158,278 Net Book Value at 315t March 2024 161,999 7,581 169.580 The Trustees believe the value of the freehold land and buildings as at 31 sl March 2025 is not materially different from the net book value included in the accounts. -15-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 6. Fixed asset Investments 2025 2024 Market Value at beginning of year Unrealised gain during year 358 330 136 28 Market value at end of year 358 Cost at end of year Listed investments comprise 677 Lloyds Banking Group plc 10p ordinary shares awarded at nil cost during a capital restructure. plus a further 16 shares issued in May 2009 for nil cost, bringing the total shares to 693. They are included in the accounts at their market value. Investments are held solely to provide an investment return for the charitable company. 7. Debtors 2025 2024 Prepayment 1,866 1,740 1,866 1,740 8. Creditors: amounts falling due wlthln one year 2025 2024 Accruals Loans Other creditors Tax and Social security 1.040 23,000 753 407 1,008 8,000 2.992 510 25,200 12.510 The following Loans are included within creditors: The charitable company received an interest free loan of £8,000 from Dingle 2000 CIC in October 2023 & further £15,000 during YE 2025. Maximum value of £30,000 to be withdrawn as required. The Charitable company will repay the total amount reiVed upon completing the sale of the building. The total balance outstanding at 31 st March 2024 is £8,000. -16-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 9. Analysis of net assets between funds Tangible Investments fixed assets 2025 Net current assets Total Unrestricted Funds General Fund Designated Fund Revaluation Reserve 144,166 (58,419) 26,596 86,241 26,596 10,554 10,554 154,720 494 (31,823) 123,391 Restricted Funds National Lottery Fund Grant Citizens Advice Liverpool National Lottery Community Fund VOLA 475 475 7,678 18,407 3,083 7,678 18,407 3,083 3,558 26,085 29,643 Totals 158,278 494 {5,738) 153,034 2024 Tanglble Investments flxed assets Net current assets Total Unrestrlcted Funds General Fund Designated Fund Revaluation Reserve 152,961 358 (27,175) 23,613 126,144 23,613 11,308 11,308 164,269 358 (3,562) 161,065 Restricted Funds National Lottery Fund Grant Citizens Advice Liverpool LCVS Community Impact Fund National Lottery Awards for All VOLA 709 709 2,610 1,500 2,610 1,500 9,984 3,767 9,984 4,602 8,369 5,311 17,861 23,172 Totals 169,580 358 14,299 184,237 -17-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 10. Unrestricted funds Movement in the ear Reserves at Beglnnlng of year Income Expenditure Investment Gains Transfer Reserves Between at End Funds of year 2025 General Fund Designated Fund Revaluation Reserve 126,144 37,663 (74.719) 136 (2,983) 86,241 23,613 2,983 26,596 11,308 (754) (-) 10,554 161,065 37,663 (75.473) 136 123,391 Movement in the ear Reserves Income Expenditure Investment at Beglnning Galns of year Transfer Reserves Between at End Funds of year 2024 General Fund Designated Fund Revaluation Reserve 125,093 51,627 (64,591) 28 13,987 126,144 37,600 (13.987) 23,613 12,062 (754) (-) 11,308 174,755 51,627 (65,345) 28 161,065 General Fund is used to finance the charitable company's general activities as outlined in the Trustees, Report. Designated Fund comprises the provision for redundancy costs and one month's running costs. Revaluation Reserve arising from the Trustees. revaluation of the freehold property. Transfer between Funds consists of a transfer to reflect the current levels of redundancy costs and one month's rLJnning costs required. -18-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 11.Restricted funds Movements in the ear Reserves at Beginning of year Income Expenditure Reserves at End of year 2025 National Lottery Fund Grant Citizens Advice Liverpool LCVS Community lrnpact Fund National Lottery Awards for All National Lottery Community Fund UK Shared Prosperity Fund 709 (234) 475 2.610 8,157 (3,089) 7,678 1,500 9,984 (1,500) (9,984) 19,973 (1,566) 18,407 8.369 (5.286) 3,083 23,172 28.130 (21,659) 29,643 Movements In the ear Reserves at Beginning of year Income Expenditure Reserves at End of year 2024 National Lottery Fund Grant Citizens Advice Liverpool LCVS Community Impact Fund Local Giving National Lottery Awards for All UK Shared Prosperity Fund 350 46,063 (45,704) 709 1,433 2,237 (1,060) 2,610 1,500 500 1,500 (500) 9,984 9,984 11,277 {2,908) 8,369 1,783 71,561 (50,172) 23,172 Descrlptlon of Funds These are monies given to the charitable company to be spent at the discretion of the Board of Trustees for specific charitable purposes. as follows: Natlonal Lottery Grant Fund - Contribution towards the purchase of new PC computers, laptops and software and propety refurbishment. -19-
PRIORITY MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Cltizens Advice Liverpool - Contribution towards the purchase of food stock to support people aged 65 and over. LCVS Communlty Impact Fund - ContrÈbution towards the riverside learning & education centre- UK Online Learner support (ICT Skills) Local Givlng- Contribution towards improving the building with repairs & signs National Lottery Awards for All - Contribution towards 'Leaming Recovery and Response, National Lottery Community Fund- Contribution towards staff costs to build ICT skills and provide coordination for our volunteering projects of IT and our food" pantry. UK Shared Prosperity Fund Contribution towards a fully accessible service for people who wish to progress their skills beyond a basic level. Workers Education Assoclation - Contribution towards Dingle Online Support 12. Operating Lease Commitments There were no financial commitments under nOn-CanlIable operating leases (2024: none). 13. Related Party Transactions There were no material related party transactions during the year which require disclosure (2024: none). 14. Guarantees As at 3191 March 2025, 3 members had given a guarantee of £1 each in the event of the charitable company winding up. Total £3 (2024: 3 members £3). -20-