WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GURANTEE) Trustees Annual Report and Unaudited Financial Statements for the year ended 28 February 2023 Registered Charity in Northern Ireland (NIC107405) Company Registration Number N1650951 Page | I WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) Financial Statements Year ended 28 February 2023 Contents CHARITY REFERENCE AND ADMINISTRATIVE DETAILS................................................................................ TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)..................... TRUSTEES OF THE CHARITY...................................................................................................................... REFERENCE AND ADMINISTRATIVE DEfAILS........................................................................................... STRUCTUREAND MANAGEMENT.......................................................................................................... DESCRIPTION AND PURPOSE..-................................................................................................................. ACTIVITIES AND OBJECTIVES.......................................... .................................................... .................... ACHIEVEMENTSAND PERFORMANCE.................................................................... PUBLIC BENEFIT STATEMENT........................................................-.......................... ............................... FINANCIAL REVIEW................................................................................................................................... GOING CONCERN...................................................................................................................................... RESERVES POLICY............... . .................................................................................................................... RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS........................................................... RISK REVIEW.................. ........................................................................................... ............................... FURTURE PLANS................. ...................................................................................................................... INDEPENDENT EXAMINERS REPORT................. ........................................................................................10 STATEMENT OF FINANCIAL ACTIVITY (INCLUDING INCOME AND EXPENDITURE ACCOUNT) ................. 12 BALANCE SHEET..........................................................................................................................................13 NOTESTOTHE ACCOUNTS........................................................................................................................14 WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) Year ended 28 February 2023 CHARITY REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Whitehead Small World Group Ltd Charity registration number NIC107405 Company registration number N1650951 Principal office and registered ofFice 26 Brooklands Park Whitehead BT38 9SN The trustees Mr J C Barnett Mrs J Defleury Mr G Ellis Drj McAughey Ms J Robb Dr G Scott-Heyes Mr J J Macaulay (resigned 14 December 20221 M5 H Maguire (resigned l February 2023) Bankers Danske Bank Donegal Sq West Belfast Co Antrim BTI 6JS Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT Year ended 28 February 2023 TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) The Trustees who are also directors for the purposes of company law present their report and the st unaudited financial statements of the charity forthe year ended 31 March 2023. The dirertors have adopted the provisions of the Statement of Recommended Practice (SORPI "Accounting and Reporting by Charities ' (FRS102 Section IA} in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 Section IA), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, Companies Act 2006 and UK Generally Accepted Practice. TRUSTEES OF THE CHARITY The directors of the charitable company are its trustees for the purposes of charity law. The terms ' director and trustee" are used interchangeably throughout the financial statements. The trustees who have served during the year were as follows: Mr J C Barnett Mrs J Defleury Mr G Ellis Drj McAughey Ms J Robb Dr G Scott-Heyes Mrj J Macaulay {resigned 14 December 2022} Ms H Maguire (resigned l February 2023) WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEE5 REPORT {conVd) Year ended 28 February 2023 REFERENCE AND ADMINISTRATIVE DETAILS The registered name of the charity is Whitehead Small World Group Ltd, charity registration number: NIC107405 and company number: N1650951 Principal office and registered office 26 Brooklands Park Whitehead BT38 9SN The trustees Mrj C Barnett Mrs J Defleury Mr G Ellis Dr J McAughey Ms J Robb Dr G Scott-Heyes Mr J J Macaulay (resigned 14 December 2022) Ms H Maguire (resigned l February 2023) Bankers Dan5ke Bank Donegal Sq West Belfast Co Antrim BTI 6JS Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG STRUCTURE AND MANAGEMENT Governing Document Whitehead Small World Group Ltd is a company limited by guarantee governed by its Memorandum and Articles of A550ciation. Whitehead Small World Group Ltd is a registered charity with the Charity Commission for Northern Ireland. WHITEHEAD SMALL WORLD GROUP LTD {A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT {cont'd) Year ended 28 February 2023 Appointment of trustees The Chairman and the Trustees recruit and select new Trustees as needed. New Trustees are recruited on the relevance of their professional skills, and their potential to be able to make a helpful contribution to the governance of the charity. As part of the recruitment process they are made aware of a Trustees, legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Once the potential new Trustee has agreed to be considered for appointment to the role, the Trustees meet to review and to vote on the candidates, suitability for appointment. If there is unanimous agreement, their names are then proposed for appointment at the next Annual General Meeting. DESCRIPTION AND PURPOSE Our charity exist5 to support refugees an asylum seeker in Northern Ireland. The purpose of the charity is the relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage. ACTIVITIES AND OBJECTIVES In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit. The strategy employed to achieve the charity's aim5 and objectives is to work with Citizens UK, under the Government sponsored Community Sponsorship scheme which allows a community to sponsor a refugee family coming to their town. ACHIEVEMENTS AND PERFORMANCE Some of the key achievements in the period to 28 February 2023 include: Giving advice re. employment opportunities and encouraging and facilitating volunteer activities. The father in our family is volunteering regularly on a Community Owned farm nearby. We have enabled the family to start a baking business on a very small scale and are looing to develop this in the future. Ensuring the children are settling well in school and providing help with homework and facilitating communication with the school. Providing support and help with transport for medical and dental appointments. WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (cont'd) Year ended 28 February 2023 Providing support and advice in making medical and other appointments Providing advice and support in dealing with statutory agencies. Working with the local foodbank to help with food deliveries, as these were needed. Providing opportunities to develop skills in English. Running and ESOL class in Whitehead which does not only benefit the family settled here but IS enabling other refugees to progress their13nguage skills, providing social support for these families. We have continued to work to help the refuge families integrate into the community. PUBLIC BENEFIT STATEMENT The Board of Whitehead Small World Group Ltd confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland, and are pleased to report that during the year the charitable company ha5 continued to provide public benefits through the programmes and services we offer. In particular, the directors consider how planned activities will contribute to the aims and objectives they have Set out. FINANCIAL REVIEW The charity returned a deficit of £3,291 (2022: surplus £849) for the year. As at 28 February 2023, the charity has funds carried forward of £1,138 (2022: £3,189}. GOING CONCERN The activities of the charity is dependent on ongoing fundraising activities. The Trustees are of the opinion that the charity has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report. RESERVES POLICY Reserves are needed to bridge the timing gap between spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequate reserve5 5afeguard5 the provision of our Services in the event of unexpected significant financial pressures. WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 28 February 2023 RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The trustees (who are also the directors of Whitehead Small World Group Ltd for the purposes of company law) are responsible for preparing the Directors ' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP 2019 IFRS102); make judgements and accounting 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 financial statements; and prepare the financial statement5 on the going concern basis unless it 15 inappropriate to presume that the charitable company will continue to operate. The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, Charities Act (Northern Ireland) 2008 and Charities Act (Nolthern Ireland) 2013 and Charities (Account5 and Reports) Regulations (Northern Ireland) 2015. 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 directors are responsible for the maintenance and integrity of the charitable company and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdiction5. RISK REVIEW A review of major risks has been undertaken by the Trustees and system5 and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial sUPPOrt from funders. These risks are mitigated by the Trustees regularly monitoring the various activities of the charity at stated meetings and by reviewing available funding streams. WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (cont'd) Year ended 28 February 2023 FURTURE PLANS It is the Tru5tee5' intention to develop the present activities of the charity in order to continue to support the refugee family to successfully integrate into our community. Disclosure of Information to Independent Examiner So far as each of the directors in office at the date of approval of these financial statements 15 aware: there is no relevant audit information of which the charitable company's independent examiner is unaware; and they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant information for the independent examination and to establish that the charitable company's independent examiner is aware of that information. Small Companies. Exemption This report ha5 been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Att 2006. Independent Examiner Hopper & Co., have indicated their willingness to remain in office and a resolution for their re-election will be proposed at the forthcoming Annual General Meeting. Approved by the trustees at a meeting on and signed on its behalf by: Mr J C Barnett Director & Trustee WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINERS REPORT Year ended 28 February 2023 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) I report on the financial statements of Whitehead Small World Group Ltd for the year ended 28 February 2023 which are contained within the 2023 Annual Report. th Respective responsibilities of trustees and independent examiner Whitehead Small World Group Ltd's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities Act (Northern Ireland) 2008. Whitehead Small World Group Ltd's trustees consider that an audit is not required under section 65(2) (audit) of the Charities Act (Northern Ireland} 2008 for the year and that an independent examination under section 64(1} of the Charities Act (Northern Ireland) 2008 is required. It is my responsibility to: examine the accounts to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out under Section 65 of the Charities Act {Northern Ireland) 2008. An examination includes a review of the accounting records kept by the Church and a comparison of the financial statements presented with those records. It a150 includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures do not provide all the evidence that W0141d be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statement5. Independent examiner's statement In the course of my examination, no matter has come to my attention: 111 which gives me reasonable cause to believe that in any material respect the requirements". to keep proper accounting records in accordance with Section 63 of the charities Act (Northern Ireland) 2008, and to prepare financial statements which accord with the accounting records in accordance with Section 64 of the Charities Act (Northern Ireland) 2008 have not been met; or 101 Page {2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. S Hopper FCA Partner Hopper & Co WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITY (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 28 February 2023 Note Unrestricted Funds Restricted Funds Total 2023 Total 2022 Income from: Donations and legacies 1,240 1,240 12,061 Total Income 1,240 1,240 12,061 Expenditure on: Charitable activities 3,291 3,291 11,212 Total Expenditure 3,291 3,291 849 Net Income (2,051) {2,0511 849 Net movement in funds Funds brought forward 12,051) 3,189 (2,051) 3,189 849 2,340 Funds carried forward 1,138 1,138 3,189 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year. 121Page WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET As at 28 February 2023 Note 2023 2022 Fixed Assets Tangible Fixed Assets Total fixed assets 751 884 751 884 Current Assets Cash and cash equivalents Total current assets 387 2,305 2,305 387 Net Current Assets 387 2,305 Total net Assets 1,138 3,189 Funds of the charity Unrestricted funds General funds Total charity fund5 1,138 1,138 3,189 3,189 For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to sm311 companies. Director5 responsibilities: 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; The directors acknowledge their re5ponsibilitie5 for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provision5 applicable to companies subject to the small companie5, regime. These financial statements were approved by the board of directors and authorised for issue on and are signed on behalf of the board by: Mrj C Barnett Director & Trustee The note5 on pages 15 to 20 form part of these financial statements. Company Registration Number: N1650951 WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS for the year ended 28 February 2023 I. ACCOUNTING POLICIES General information and basis of preparation Whitehead Small World Group Ltd is a charitable company limited by guarantee and not having a share capital and is registered in Northern Ireland. The address of the registered office is given in the charity information on page l of these financial statements. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charitable company constitutes a public benefit entity as defined by FRS 102. Statement of compliance The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repolting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS102 Section IA), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013 The Charities (Accounts and Reports} Regulations (Northern Ireland} 2015, Companies Act 2006 and UK Generally Accepted Practice. The financial statements are prepared on a going concern basis under the historical c05t convention. The financial statements are prepared in sterling which is the functional currency of the charity rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. The directors consider that these policies are suitable, have been conslstently applied and are SUPPOrted by reasonable and prudent judgements and estimates. FUND ACCOUNTING The charity has various types of funds for which it is responsible, and which require separate disclosure. A definition of the various types of funds is as follows: Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and {b) revenue donations or grants for a specific charitable activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis. 141 Page WHITEHEAD SMALLWORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 28 February 2023 Unrestricted funds are funds which are expendable at the discretion of the Charity in furtherance of its objectives. In addition to expenditure on activities such funds may be held in order to finance capital investment and working capital. Designated funds are general funds set aside by the trustees for use in the future. INCOMING RESOURCES All incoming resources are included in the Statement of Financial Activities {SoFA} when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those condition5 are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. Voluntary income received by way of donations and gift Is credited to revenue on a receivable basis. The charity receive5 grants in respect of support services. Income from government and other grants are recognised at fairvalue when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable unless they relate to a specified future period. Other income represents income that cannot be reported underthe other analysis headings provided within the SOFA. Incoming resources with related expenditure Where incoming resources have related expenditure (as with insurance proceeds) the incoming resources and related expenditure are reported gross in the SOFA. 15 IP3ge WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CGnVd) 28 February 2023 Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (iv) Contractual income and performance related grants This is only included in the SOFA once the related goods or services have been delivered. {v) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount attually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. (vi) Donated services and facilities These are only included in incoming resources {with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value place on these resources is the estimated value to the charity of the service or facility received. (vii) Investment income This is included in the account5 in the period to which it relates. (viii) Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is categorised under the following headings.. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries and includes salary costs, support service expenses, and an apportionment of support costs,. Other expenditure represents those items not falling into the categories above. WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 28 February 2023 Liability recognition Liabilities are recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. Grants payable without performance conditions These are only recognised in the account5 when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. (v) Support costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office cost5, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to C05t of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premise5 overheads have been allocated on a basis consistent with the use of the resources. Staff costs and other overheads have been allocated based on time spent, per capita and attivity. Employee benefits When employees have rendered service to the charity, 5holt-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Value Added Tax The charity is not registered for VAT purposes, therefore expenditure is shown gross of VAT. 171page WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 28 February 2023 ASSETS Tangible Fixed Assets The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows: Fixtures and fittings 15% Reducing balance n accordance with FRS102, assets under construction are not depreciated until such times as they are available for use. Where the recoverable amount of a fixed asset is found to be below its net book value, the asset is written down to the recoverable figure and the loss on impairment is recognised in the SOFA. Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees, best estimate of market value. Leases Rentals payable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease. Tax As a charity, the company benefits from various exemptions afforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure 15 sufficient with the level of reserves for the charity to be able to continue as a going concern. Judgements and key sources of estimation uncertainty The following judgements including those involving estimates have been made in the process of applying the above accounting policies that have had the most significant effett on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (convd) 28 February 2023 depreciation method and asset useful lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. 2. DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total 2023 Donations 1,240 1,240 1,240 1,240 Unrestricted Restricted Funds Funds Total 2022 Donations 12,061 12,061 12,061 12,061 3. CHARITABLE AcfiviTIES Unrestricted Funds Restricted Funds Total 2023 Total 2022 Teaching & Interpreting Costs Direct Costs Rent ESOL and Travel Costs Depreciation Bank Charge5 2,214 225 250 435 133 34 2,214 225 250 435 133 34 8,843 450 1,140 508 156 115 3,291 3,291 11,212 191page WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (conVd} 28 February 2023 4. TAXATION The charity is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried out in the furtherance of the charity's primary objectives, if these profits and surpluses are apFlied solely for charitable purposes. The charity is not registered for VAT and, accordingly, all their expenditure is inclusive of any VAT incurred. 5. TANGIBLE FIXED ASSETS Fixtures & Fittings Cost At beginning of the year At end of the year 1,440 1,440 Depreciation At beginning of the year Depreciation Disposals At end of the year 556 133 689 Net book value at beginning of the year Net book value at end of the year 884 751 6. FUND BALANCES Fund Balance at start Income Expenditu Surplus / Transfer re (Deficit} Balance at end Unrestricted Funds General fund 3,189 1,240 3,291 {2,051} 1,138 Total 3,189 1,240 3,291 (2,051) 1,138 201 Page WHITEHEAD SMALL WORLD GROUP LTD (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 28 February 2023 7. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Fund5 Funds Total 2023 Fixed Assets Net Current Assets 751 387 751 387 1,138 1,138 Unrestricted Restricted Funds Funds Total 2022 Fixed Assets Net Current Assets 884 2,305 884 2,305 3,189 3,189 8. FINANCIAL COMMITMENT No contracts had been placed for future capital expenditure at the balance sheet date 9. LIABILITY OF MEMBERS Whitehead Small World Group Ltd is a company limited by guarantee and does not have a share capital. It is governed by a Memorandum and Articles of Association and the liability of members is limited to an amount not exceeding £1. 10. ULTIMATE CONTROLLING PARTY There is no ultimate controlling party. 11. ETHICAL STANDARDS In common with many other organisations of our size and nature, we use our independent examiner to prepare and assist in the preparation of the financial statements. 12. RELATED PARTIES There were no related party transactions during the year (2022: £Nil).