CavanaghKelly' Company Registration Number: N1022996 Charity Registration Number: 104137 Buddy Bear Trust (Charitable Company Limited by Guarantee) Annual Report and Unaudited Financial Statements For the year ended 31 August 2024
co he Page General Information Directors, Report Independent Examiner's Report statement of Flnanclal Actlvltles Statement of Financlal Posltion Notes to the Flnancial Statements 9-10 11-20
ud Board of Directors Phyllls Agnew Brendan Mcconville Mary Murphy Jennifer Coggan resigned 22 Aprll 2024 John Daly - resigned 29 June 2024 Company Secretary Phyllis Agnew - reslgned 18 February 2025 Registered Office Peto Centre Killyman Road Dungannon Co Tyrone BT71 6DE Company Reglstratlon Number N1022996 Charity Reglstratlon Number 104137 Independent Examiners CavanaghKelly Chartered Accountants 36-38 Northland Row Dungannon Co Tyrone BT716AP Bankers Ulster Bank 39 Market Square Dungannon Co Tyrone BT70 IJJ Sollcltors Tughans Sollcltors Marlborough House 30 Vlctoria St Belfast Co Antrim BTI 3GG CavanaghKellyi Chartered Accountants & Statutory Auditors Page12
udd Bea rust ritable Com imited Guarantee The Directors, who are the trustees for the purpose of charity law, have pleasure In presentlng their report and the unaudited financial statements of the charitable company for the year ended 31 August 2024. The financial statements have been prepared In accordance with the Statement of Recommended Practice "Accountlng and Reporting by Charities" (FRS 102) and the Companies Act 2006. Reference and Administration Detalls The reference and administration details of the charltable company are as shown on page 2. Objectives and Activities The principal activlty of the charitable company Is to relleve slckness of children sufferlng from cerebral palsy, spina bifida and other motor neurone disorders. The maln strateglc objectlves of the Trust are: To provide conductive education for children who suffer from cerebral palsy and other motor disorders. To become a "mainstream. part of education and therapy for children sufferlng from cerebral palsy in Northern Ireland and to see greater Integratlon of the existing servlces of health and education for such children. The key aims of Buddy Bear Trust are to allow young people to benefit from thls Ilfe changlng therapy and develop thelr own optlmum level of independen. Publlc Beneflt Statement The Directors of Buddy Bear Trust conflrm that they have complied with their duty under sectlon 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commisslon for Northern Ireland's guldance on public beneflt and that the publlc beneflt requlrement has informed the actlvltles of the charitable company in the year ended 31 August 2023. Achlevements and Performance Children with Cerebral Palsy at the Buddy Bear Trust Conductlve Education School ("Buddy Bear School") benefited from a team lead by the princlpal and three other Peto trained Conductors, all of whom are registered wlth the General Teaching Council of Northern Ireland as well as two experienced Classroom Assistants and a part-time Secretary. The Buddy Bear School was able to offer places to children In one of four maln groups: Parent and Child Group (Pre-Nursery); Nursery Group; School Group I; and School Group 2. CavanaghKellyi Chartered Accountants & Statutory Auditors Page13
udd Bea Charitabl ant Children at the Buddy Bear School made great progress under the guidance of the Conductors/Teachers. Each child made visible progress throughout the year which pleased and motivated their parents to request more conductive education within the school. ntsan Perform nce In The Buddy Bear Trust continues to actively promote Its five year'Lifetlme of Difference, project. The project is being funded for three years by the Natlonal Lottery Community Fund and the Mcclay Foundation. These are vital funds but there remains a shortfall for the optimum running costs of the school which we need to supplement with government funding and ongoing fund raising. The Buddy Bear Trust contlnues to rely heavily on volunteers to asslst in the day-to-day operational running of the charity. Such volunteers are invaluable, and the charity continues to be grateful for their contlnued input. The volunteers do not receive any remuneration; however, the charity will cover any costs of travel and expenses in order to ensure no volunteers are out of pocket for the costs they incur. Good volunteers are the backbone of any charity and we appreciate their time and effort. Flnancial Revlew Financial Performance The charity earned net incoming resources of £65,295 (2023 incoming resources of £124,934) in the year to 31 August 2024 and at the year end the total funds of the charity amounted to £445,988 (2023 - £380,693) comprising unrestricted funds of £235,719 (2023 £168,868), restricted funds of £10,259 (2023 - £11,825) and a designated reserve fund of £200,000 (2023 - £200,000). Principal sources of fundlng and how this has supported the key objectlves of the charStable company are dlsclosed in the notes to the flnancial statements. Reserves Pollcy The Buddy Bear Trust has a formal reserves policy and the trustees believe there are sufficient funds to meet the needs of the charlty for the medium term. As the charity is heavily rellant on donations and funding from public bodies, the board believe it is imperative to hold a significant level of reserves so that the charity can continue to operate should there be any unexpected fall in incoming resources. strurture, Governance and Management Organlsatlonal Strurture The charitable company is a company limited by guarantee, not having a share capital. The charltable company was established under a Memorandum of Association whSch establlshed the objects and powers of the charitable company and Is governed under Its Articles of Association. In accordance with the Articles of Association, the members to retlre by rotation shall be those who have been longest in office since thelr last election, and the relevant motion will be put at the Annual General Meeting. A retiring member shall be ellgible for re-election. Directors The Directors during the year are the same as the Directors as listed on page 2. CavanaghKelly, Chartered Accountants & Statutory Auditors Page14
Budd Bear able Taxatlon Status The charitable company Is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Sectlon 256 Taxation of Chargeable Gains Act 1992. Dlrectors. Responslbllltles The Directors are responsible for preparlng the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Klngdom Generally Accepted Accountlng Practlce). Company law requires the Directors to prepare financial statements for each financial year which give a true and falr vlew of the state of the affairs of the charitable company and of the incoming resources and applicatlon of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements the Directors are required to: select suitable accounting pollcies and apply them consistently; observe the methods and principles in the Charities SORP (FRS 102). make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financlal statements, and prepare the financial statements on the going concern basis unless It is Inappropriate to presume that the charitable company will continue in operation. The Dlrectors are responslble for keeplng adequate accountlng records that dlsclose wlth reasonable accuracy at any time the financial posltlon of the charitable company and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other irregularitles. Small Companle$ Exemptlon The above report has been prepared in accordance with the special provisions relating to small companies withln Part 15 of the Companles Act 2006. This report was approved by the Board of Directors and slgned on its behalf by: Mr Brendan McConv511e Directors Mrs Phyllls Agnew Date Reglstered offlce: Peto Centre Killyman Road Dungannon Co. Tyrone BT716DE r:NI ri CavanaghKellyi Chartered Accountants & Statutory Auditors Pag¢15
udd ear Be We report on the financial statements of the company for the year ended 31 August 2024 whlch are set out on pages 8 to 20. Respectlve Responslbllltles of Dlrectors and Independent Examlner As the charitable company's Directors, who are the trustees for the purpose of charity law, you are responsible for the preparation of the financlal statements in accordance with the requirements of the Companles Act 2006. Havlng satlsfied ourselves that the charltable company is not subject to audit under company law, and is eligible for independent examination, It is our responslbllity to: examlne the accounts under sectlon 65 of the Charltles Act (Northern Ireland) 2008; follow the procedures lald down In the general Directions glven by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. and state whether particular matters have come to our attention. Basls of Independent Examlner's Report We have examined your charitable company's flnanclal statements as required under sectlon 65 of the Charitles Act (Northern Ireland) 2008 and our examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charltles Act (Northern Ireland) 2008. The examination included 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 you as charltable company Directors concerning any such matters, Our role Is to state whether any materlal matters have come to our attention glvlng us cause to believe: That accounting records were not kept Sn accordance with section 386 of the Companles Act 2006; or That the accounts do not accord wlth those accounting records; or That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charitles preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ereland; or That there Is further Information needed for a proper understanding of the accounts to be reached. CavanaghKellyi Chartered Accountants & Statutory Auditors PagL16
udd Bea Tru an Li ited IA te th on Independent Examlner's Statement We have completed our examination and have no concerns in respect of the matters listed above and, in connection wlth following the Dlrections of the Charity Commlssion for Northern Ireland, we have found no matters that require drawing to your attention. CAVANAGHKELLY Chartered Accountants & Statutory Auditors 36-38 Northland Row Dungannon Co. Tyrone BT7 16AP Date: CavanaghKellyi Chartered Accountants & Statutory Auditors Pilg¢ | 7
itu Unr•strlcted Fufid R•strlctèd Fund¥ D•sIgted Fundg Total Funds Unre8trltk• Fund8 R¢strl¢ted Dtslynat•d Funds FndS Futtds 2024 20 2014 2024 2013 2023 2023 1023 INCOME ANO ENDOWMENTS CThantae Activities (Note 31 Oonèuons and Legacles (Note 31 Investment Incorne INete 31 TOTAL INCOME A14D ENDOVIMEMTS 144.883 222.750 4,121 371.754 144,883 222,750 4,121 371,754 141.938 241,577 1,080 JB4.595 s,0 6,000 146,938 249,577 1,080 397.595 13,000 RESOURCES EXPE14DPD ChariuNe Aciivities INo¢e 41 TOTAL RESOURCES EXPENDED 1304,9031 1304,9031 {1,5561 11.5561 1306.4591 1306,4591 1265,5861 1265,5861 17,0751 17,0751 1272,66ll 1272.6611 Net Incomlnglloutgolngl r••oilt¢ for th• y••r 66,851 11.5561 65,295 119,009 5.925 124,934 Transfers bee•n funds IloD,0001 IcbJ,000 Balance trKought forward 168,868 11,825 2rx),000 380,693 149,659 5,900 100,wo 255,759 B•lance urrl•d fopward 235719 200 000 445 988 168 868 380 693 The above Statement of Flnanclal Actlvltles Includes all Informatlon as requlred to be dlsclosed by the Companies Act 2006, All of the actlvltles of the charltable company are classed as contlnulng. The Statement of Financial Actlvities Include5 all gains and losses ftcognlsed durlng the year. The notes on pages 11 to 20 form an Integral part of the financlal statements. CavanaghKellyi Chartered Accountants & Statutory Audltors Pase18
Budd ea us it Note 2024 2023 Non-current Assets Property, Plant and Equipment Current Assets Receivables Cash and cash equivalents 45,907 316 304 362,211 422 783 422,783 Payables: Amounts falling due within In one year 10 Net current assets 414 660 344 878 Net Assets li 380 693 REPRESENTED BY: Unrestrlcted funds Restricted funds Designated funds Total Funds 12 12 12 235,719 10,269 200 000 445 988 168,868 11,825 200 000 380 693 The Dlrectors, statements shown on the following page form part of thls Statement of Flnanclal Position. CavanaghKellyi Chartered Accountants & Statutory Auditors Page19
r Trust aran ee IALP These financial statements have been prepared in accordance with the provisions applicable to small companies regime within Part 15 of the Companies Act 2006. For the financial year ended 31 August 2023 the company was entitled to exemption from audlt under section 477 of the Companies Act 2006. The Directors confirm that the members have not required the company to obtain an audit of Its financial statements for the year in question in accordance with section 476 of the Companies Act 2006. The D1CtorS acknowledge their responsibilitles for ensuring that the charitable company keeps accounting records which comply with Section 386; and for preparing financial statements whlch give a true and fair view of the State of affalrs of the charitable company as at the end of the financial year and of its incoming or outgoing resources for the financial year in accordance with the requirements of sections 394 and 395 and whlch otherwise comply with the requirements of the Companles Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes on pages 11 to 20 form an Integral part of the financial statements. The financlal statements were approved and authorised for issue by the Board of Directors and signed on their behalf by: Brendan Mcconvllle DIRECTOR Phyllls Agnew DIRECTOR Date 22 CavanaghKellyi Chartered Accountants & Statutory Auditors P*ige 110
dd Bear Trus de I. GENERAL INFORMATION Buddy Bear Trust Is a charltable company Ilmited by guarantee Incorporated in Northern Ireland. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charltable company. The address of the registered office is as shown on page l. The charitable company constitutes a public benefit entlty as defined by FRS 102. The financial statements are stated in £ sterling which is the functional currency of the charltable company. 2. ACCOUNTING POLICIES The following accounting policies have been applied consistently In deallng with items which are considered material in relation to the charitable company's financlal statements. 2.1 Statement of Compliance The financlal statements have been prepared In accordance with Accounting and Reporting by Charltes: Statement of Recommended Practlce (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective l January 2019 (Second Edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companles Act 2006. 2.2 Basls of Preparatlon The financial statements are prepared on a going concern basis under the historical cost convention unless otherwise stated in the relevant accounting policy. Historical cost Is generally based on the falr value of the conslderatlon given in exchange for assets. 2.3 Cash Flow Statement The charltable company has applled Update Bulletln 2 as publlshed on 5th October 2018 (effective l January 2019) and does not include a cash flow statement on the grounds that It is applying FRS 102 Section IA. 2.4 Income and Endowmentg (l) Charltable Actlvltles Income from charitable activitles Includes income received under contract or where entitlement to grant fundlng Is subject to speciflc performance conditions. It IS recognised as earned as the related services or goods are provided. Grant income is recognised in the Statement of Flnancial Activities when receivable. Grant income included in this category provides funding to support projects and is recogni5ed where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. CavanaghKellyi Chartered Accountants & Statutory Auditors PdgL | I I
dd Bear ru Gua 2. ACCOUNTING POLICIES (Contlnued) 2.4 Income and Endowments (Contlnued) (11) Donatlons and Legacles Donatlons and Legacy income Includes Incoming resources from glfts, donations and grants and is recognised in full in the Statement of Financial Activities when receivable. Activltles for generating funds are commercial activities which are recognised as earned when the related goods and services are provided. 2.5 Expendlture Expenditure is recognised when a liability Is incurred. Contrartual arrangements and performance related grants are recognised as goods and services are supplled. Where costs cannot be dlrectly attrlbuted to a partlcular headlng, they have been allocated to activities on a basis consistent with use of resources. Staff costs and overhead expenses are allocated to activities on the basis of staff tlme spent on those activities, (l) Charitable Activltles This comprises all the resources applied by the charitable company in undertaking its work to meet its charitable objectives. Charitable activities wlll include the costs of governance arrangements which relate to the general running of the charitable company. 2.6 Fund Accountlng The charltable company has three types of funds for which it is responsible at the year end: Unrestrlcted Funds - Funds which are expendable at the discretlon of the Dlrectors In furtherance of the objectives of the charitable company. In addition, funds may be held in order to finance capital Investment and working capital. Deslgnated Funds Monies which has been set aside to cover costs should there be a significant and unforeseen reduction In funding. Restricted Funds - Monies received for speciflc purposes. Such purposes are within the overall aims of the charlty. CavanaghKellyi Chartered Accountants & Statutory Auditors Page | 12
ear us 2. ACCOUNTING POLICIES (Contlnued) 2.7 Propertyi Plant and Equlpment and Depreciatlon Property, plant and equipment are initially recorded at cost. Cost includes the original purchase price, costs directly attributable to brlnging the asset to its working condition for its intended use, dismantllng and restoration costs and borrowing costs capitalised. Depreclation Is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Office Furnlture School Equlpment Computer Equipment Leasehold Improvements 150/0 Stralght Line 25e/o Reducing Balance 20010 Straight Llne 4010 Straight Llne 2.8 Trade and Other Payables Trade and other payables are initially recognlsed at fair value and thereafter stated at cost. 2.9 Taxatlon As a charlty, the charitable company is not Ilable to Corporation Tax. 2.10 Cash and Cash Equlvalents Cash and cash equivalents Includes cash In hand, deposits held at call wlth banks, other short term highly Ilquid investments with orlglnal maturities of three months or les5. 2.11 Critical accounting estlmates and judgement$ In the applicatlon of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities thal 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 underlylng assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period In whlch the estimate is revised were the revision affects only that period, or in the perlod of the revlsion and future periods were the revision affects both current and future perlods. Critlcal judgements in applying the entity s accounting policies There are no critical judgements in applying the company's accounting policies. Critical accounting estimates and assumptions There are no accounting estimates in applying the company's accounting policies. CavanaghKellyi Page | 13 Chartered Accountants & Statutory Auditors
02 2. ACCOUNTING POLICIES (Contlnued) 2.12 Flnanclal Instruments (i) Flnancial assets Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reportlng perlod financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is Impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective Interest rate. The impairment loss Is recognised in profit or loss. If there Is decrease in the Impairment loss arlsing from an event occurrlng after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal 15 recognised in profit or loss, Financlal assets are derecognlsed when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownershlp of the asset are transferred to another party or (c) despite havlng retained some slgnlficant risks and rewards of ownershipi control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third paty wlthout imposing additional restrictions. (11) Financial Ilabilities Basic flnancial liabillties, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transactlon, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortlsed cost, using the effective Interest rate method, Fees paid on the estab5ishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be d rawn down. In this case, the fee is deferred untll the draw-down occurs. To the extent there Is no evidence that it is probable that some or all of the facility wlll be drawn down, the fee is capitalised as a pre-payment for liquldity services and amortised over the period of the facility to which it relates. Trade payables are obligations to pay for goods or services that have been acquired In the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. CavanaghKellyi Chartered Accountants & Statutory Auditors Pagc , 14
udd Bear Trus lec ed ee 2. ACCOUNTING POLICIES (Contlnued) Financial liabilities are derecognlsed when the liability is extinguished, that Is when the contractual obligation Is dlscharged, cancelled or expires. (ill) Offsetting Financlal assets and liabillties are offset, and the net amounts presented in the financial statements when there is a legally enforceable rlght 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 simultaneously. 2.13 Penslon and other post retirement obligations The charlty operates a defined contribution pension scheme which Is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even If the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current or prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contrlbution payments exceed the contribution due for the service, the excess Is recognised as a prepayment. CavanaghKellyi Chartered Accountants & Statutory Auditors Pd¥C | 15
dd Bear rus ded st 3. INCOME AND ENDOWMENTS Unrestrlcted Restrlcted Deslgnated Funds Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 Charltable Actlvltles Halifax Foundation for Northern Ireland Education and Library Boards Ardbarron Trust Muslc Therapy Early Years The Pathway Fund Total Charitable Activities 10,500 127,350 127,350 125,605 1,000 6,533 10,000 1,000 6,533 10,000 10,833 146,938 144,883 144,883 Income from Charitable Activities in the year ended 31 August 2023 was made up of unrestricted funds £141,983 and restrlcted funds £5,000. Unrestrlcted Restrlcted Deslgnated Funds Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 Donatlons and Legacles Donations Community Foundation Mcclay Foundation Covid 19 Grant Mld Ulster Councll Total Donations and Legacies 13,350 109,400 13,350 109,400 21,677 125,900 loo,000 loo,000 100,000 222,750 222,750 249,577 Income from Donations and Legacies In the year ended 31 August 2023 was made up of unrestrlcted funds £241,577 and restricted funds £8,000. CavanaghKellyi Chartered Accountants & Statutory Auditors Pagc | 16
- INCOME AND ENDOWMENTS (Cont'd) Unrestrlcted Restrlrted Deslgnated Funds Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 Investment Income Bank Interest Receivable Total Investment Income 4,121 4,121 1,080 4,121 4,121 1,080 Income from Investment Income In the year ended 31 August 2024 was made up of entirely unrestricted funds.
- RESOURCES EXPENDED Unrestrlcted Restrlcted Deslgnated Funds Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 Charitable Actlvltles Wages and salarles Pension costs Rates and water Insurance Light and heat Repairs and maintenance Printing, postage and stationery Classroom expenses Copier Rental Telephone Fundraising and promotion costs Accountancy Bank charges General expenses Subscriptions Staff Training Depreciation of property, plant and equipment Total Resources Expended 2Q6,139 39,459 206,139 39,459 204,748 4,013 1,281 8,730 11,237 14,944 6,272 10,507 3,676 6,272 10,507 3,676 582 582 727 12,440 775 1,623 3,918 12,440 775 1,623 3,918 2,370 2,096 1,436 1,748 11,891 133 2,014 663 11,891 133 2,014 663 8,146 115 3,844 472 50 6,704 4,811 1,556 6,367 304,903 1,556 306,459 272,661 Expenditure on Charitable Actlvitles in the year ended 31 August 2023 of was made up £265,586 unrestricted expenditure and £7,075 restricted expendlture. CavanaghKellyi Chartered Accountants & Statutory Auditors Pagel 17
us able Co ari arante FIN ar ended the 02 5. NET INCOME/(EXPENDITURE) FOR THE YEAR Net Income/(expendlture) Is stated after charging/(crediting): 2024 2023 Depreciatlon of property, plant and equlpment 5,992 6,704 6. INDEPENDENT EXAMINER'S REMUNERATION The Independent examiner's remuneration amounts to an independer)t examination fee of £3,150 (2023 £3,000). 7. STAFF COSTS AND EMPLOYEE BENEFITS The average number of persons employed by the charltable company during the year was 7 (2023 - 7). The total staff costs and employee's beneflts was as follows., 2024 2023 Wages and salaries (includlng social securlty) Pension costs 206,139 204,748 245 598 208 761 The charitable company has one employee who recelved total employee benefits (excluding employer pension costs) of between £70,000 and £80,000 durlng the reporting period. 7.1 DIRECTORS. REMUNERATION The Directors received nor waived any remuneration or any other benefits during the year and no reimbursements of expenses incurred. CavanaghKellyy Chartered Accountants & Statutory Auditors Page | 18
ud Bear ru EME In 8. PROPERTY, PLANT AND EQUIPMENT Office FurnSture School Computer Leasehold Equipment Equlpment Improvements Total Cost At 31 August 2023 Additions At 31 August 2024 33,565 46,636 39,552 1,880 41,432 28,623 148,376 1,880 150,256 33,565 46,636 28,623 Depreciation At 31 August 2023 Charge for year At 31 August 2024 30,588 516 38,974 36,370 6,629 112,561 118 928 Net Book Values At 31 August 2024 At 31 August 2023 9. RECEIVABLES 2024 2023 Accrued Income 48,907 io. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade payables Taxation and social security Accruals 632 12,027 3,036 CavanaghKellyi Chartered Accountants & Statutory Auditors Page | 19
dd ear 11. ANALYSIS OF NET ASSETS Unrestricted Restricted Deslgnated Funds Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 Property, Plant and Equipment Current Assets Current Liabilities 29,059 2,269 31,328 35,815 214,783 8,000 200,000 422,783 362,211 235 719 200 000 380 693 12. ANALYSIS OF FUNDS Opening Balance Income Expendlture Transfer Between Funds Closing Balance Restrlcted Funds Cash for Kids The Pathway Fund Lift Appeal 3,825 (1,556) 2,269 11,825 (1,556) 10,269 UnrestrScted Funds 168,868 371,754 (304,903) 235,719 Deslgnated Funds 200,000 200,000 Total Funds 380 693 371 754 306 459 445 988 Cash for Kids This was funding received towards the cost of Installing outdoor play equipment for children wlth complex needs. The Pathway Fund This project is supported by The Pathway Fund which Is administered by Early Years the organisation for young children and funded by the Department of Education. Thls fundlng was for the provlsion of 6 children with complex needs and to facilitate parent workshops. Llft Appeal This was donations received for the purpose of installing a lift on the Buddy Bear premises. CavanaghKellyi Chartered Accountants & Statutory Auditors Pa¥c | 20