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COMPANY REGISTRATION NUMBER: 06632056
CHARITY REGISTRATION NUMBER: 1125695
Heel and Toe Ltd
Unaudited Financial Statements
For the Year Ending
31 December 2024
Heel and Toe Ltd
Financial Statements
Year Ended 31 December 2024
Page
Trustees' Annual Report (Incorporating the Director's Report)
1
Independent Examiner's Report to the Trustees
4
Statement of Financial Activities (Including Income and Expenditure Account)
5
Statement of Financial Position
6
Statement of Cash Flows
8
Notes to the Financial Statements
9
Heel and Toe Ltd
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 31 December 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024 .
Objectives
Our Mission
Heel & Toe supports children and young people with profound physical and neurological disabilities from the North East region to live active, fulfilling, independent lives by the provision of free and subsidised therapy.
Achieving our Mission
We offer a range of services, led by highly qualified therapists, to children and young people of all ages from 3 months to 19 years (in line with current NHS Children and Young Adult Services criterion). Therapy sessions can be one-to-one or group, depending on the child's needs, and are available from 9.30am to 6.00pm, Monday to Friday. We liaise with all external organisations concerned with a child's care to aid and assist the NHS, Social Services and the LEA wherever possible and to develop and enhance our service.
Our Vision
Our vision is to support children with disabilities to live full, productive lives where possibilities and opportunities are not constrained by their disabilities. We focus on supporting achievement and building on a child's success. We aim to improve children and young people's quality of life, and that of their families, by supporting them to make real improvements to their physical and emotional health. This in turn improves their level of confidence and self-esteem, motivation and fun. We want children, young people and their families to have the chance to look forward to a more independent and fulfilling future.
Value Statement: we believe that no child or young person should be denied Conductive Education due to a lack of money.
Activities and Achievements
For details of our activities and achievements please see our annual report.
Financial Review
Total income for the year was £910,144 (2023 - £909,818) and expenditure was £962,000 (2023 - £984,342). There was a deficit of £51,856 (2023 - £74,524).
At 31st December 2024 net assets were £1,564,564 (2023 - £1,619,293). We owned fixed assets and investment properties valued at £1,446,413 (2023 - £1,443,803) which are partly financed by long term loans of £265,970 (2023 - £320,102). Net current assets totalled £384,121 (2023 - £495,592). Restricted funds were £75,053 (2023 - £76,316) and general funds (reserves) were £342,529 (2023 - £436,233).
We aim to hold reserves equal to between 3 months and 6 months running costs excluding depreciation and fundraising costs which currently equates to between £212,500 and £425,000. Actual reserves at 31st December 2024 were £342,529 so are within the desired range.
Structure, Governance and Management
The charity was incorporated as a company limited by guarantee on 27th June 2008 with company number 06632056 . It was registered as a charity on 3rd September 2008 with charity number 1125695 . Initially the charity operated under the name Step Forward Together - NE Limited. The name was changed to Heel and Toe Limited on 6th October 2008. The charity is governed by the Memorandum and Articles of Association dated 27th June 2008 as amended upon the change of name on 6th October 2008.
Heel and Toe Limited is governed by its trustee board, which is responsible for setting the strategic direction of the organisation and the policy of the charity. The trustees carry the ultimate responsibility for the conduct of Heel and Toe Limited and for ensuring that the charity satisfies its legal and contractual obligations. The Trustees met a total of six times in the year to discuss and consider matters relating to the Charity.
Public Benefit
Our main activities and who we help are described elsewhere in this report. All our charitable activities are undertaken to further our charitable purposes for the public benefit. The Trustees have had regard to the Charity Commission's guidance on public benefit throughout the year when deciding on the activities of the charity.
Policies & Procedures
We have policies in place which include:
Child Protection Policy
Health & Safety
Fire & Emergency Policy
Equal Opportunity Policy
Environmental Policy
Organisational file
Staff Induction
Enhanced DBS (previously CRB)
Recruitment procedure
Our policies are regularly updated and periodically checked, vetted and authorised.
The major risks facing the charity have been reviewed and systems or procedures have been established to manage those risks.
The remuneration of key management personnel is agreed by the trustee board.
At Heel and Toe we will endeavour to:
- Continue to provide the best support we can for children and families
- Continue to listen and involve children and families in the development of our services
- Continue to adopt and share 'best practice'
- Continue to update our knowledge and skills to reflect in our service provision
- Continue to use our funds effectively for the benefit of the children and families who attend
Reference and Administrative Details
Registered charity name
Heel and Toe Ltd
Charity registration number
1125695
Company registration number
06632056
Principal office and registered
40 Front Street
office
Pelton
Chester-Le-Street
County Durham
DH2 1DE
The Trustees
Mr P S Gilsenan
Ms A J Kirtley
Miss H E F Hastie
Mr P Bartley
Mr A M Guest
Mr C Higgins
(Appointed 16 October 2024)
Ms H Plunkett
Mr M W Ward
Mr M Clasper
Ms J Turner
Mr D Long
Company Secretary
Mr P S Gilsenan
Independent Examiner
Jane Ascroft FCA MA (Cantab)
Enterprise House
Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8XP
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 10 February 2025 and signed on behalf of the board of trustees by:
Mr P S Gilsenan
Charity Secretary
Heel and Toe Ltd
Independent Examiner's Report to the Trustees of Heel and Toe Ltd
Year Ended 31 December 2024
I report to the trustees on my examination of the financial statements of Heel and Toe Ltd ('the charity') for the year ended 31 December 2024.
Responsibilities and Basis of Report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
10 February 2025
Heel and Toe Ltd
Statement of Financial Activities
(including income and expenditure account)
Year Ended 31 December 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
114,030
150,304
264,334
265,798
Charitable activities
6
189,705
189,705
179,257
Other trading activities
7
402,084
402,084
406,332
Investment income
8
54,021
54,021
58,431
---------
---------
---------
---------
Total income
759,840
150,304
910,144
909,818
---------
---------
---------
---------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
9
104,861
104,861
107,335
Expenditure on charitable activities
10,11
705,572
151,567
857,139
877,007
---------
---------
---------
---------
Total expenditure
810,433
151,567
962,000
984,342
---------
---------
---------
---------
---------
---------
---------
---------
Net expenditure
( 50,593)
( 1,263)
( 51,856)
( 74,524)
---------
---------
---------
---------
Other recognised gains and losses
Gains/(losses) on revaluation of investment properties
( 2,873)
( 2,873)
---------
---------
---------
---------
Net movement in funds
( 53,466)
( 1,263)
( 54,729)
( 74,524)
Reconciliation of funds
Total funds brought forward
1,542,977
76,316
1,619,293
1,693,817
------------
---------
------------
------------
Total funds carried forward
1,489,511
75,053
1,564,564
1,619,293
------------
---------
------------
------------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Heel and Toe Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible fixed assets
16
866,413
863,803
Investments
17
580,000
580,000
------------
------------
1,446,413
1,443,803
Current Assets
Stocks
18
1,400
1,400
Debtors
19
37,593
26,838
Cash at bank and in hand
407,402
528,212
---------
---------
446,395
556,450
Creditors: amounts falling due within one year
20
62,274
60,858
---------
---------
Net Current Assets
384,121
495,592
------------
------------
Total Assets Less Current Liabilities
1,830,534
1,939,395
Creditors: amounts falling due after more than one year
21
265,970
320,102
------------
------------
Net Assets
1,564,564
1,619,293
------------
------------
Funds of the Charity
Restricted funds
75,053
76,316
Unrestricted funds
1,489,511
1,542,977
------------
------------
Total charity funds
23
1,564,564
1,619,293
------------
------------
For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 responsibilities 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 provisions applicable to companies subject to the small companies' regime.
Heel and Toe Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of trustees and authorised for issue on 10 February 2025 , and are signed on behalf of the board by:
Mr M W Ward
Trustee
Heel and Toe Ltd
Statement of Cash Flows
Year Ended 31 December 2024
2024
2023
£
£
Cash Flows from Operating Activities
Net expenditure
(51,856)
(74,524)
Adjustments for:
Depreciation of tangible fixed assets
6,209
6,469
Dividends, interest and rents from investments
(54,021)
(58,431)
Interest payable and similar charges
25,820
26,840
Accrued income
( 1,000)
Changes in:
Stocks
600
Trade and other debtors
( 10,755)
84
Trade and other creditors
( 5,089)
( 3,804)
--------
---------
Cash generated from operations
( 89,692)
( 103,766)
Interest paid
( 25,820)
( 26,840)
---------
---------
Net cash used in operating activities
( 115,512)
( 130,606)
---------
---------
Cash Flows from Investing Activities
Dividends, interest and rents from investments
54,021
58,431
Purchase of tangible assets
( 11,692)
( 48,992)
---------
---------
Net cash from investing activities
42,329
9,439
---------
---------
Cash Flows from Financing Activities
Proceeds from borrowings
( 47,627)
( 41,125)
---------
---------
Net cash used in financing activities
( 47,627)
( 41,125)
---------
---------
Net Decrease in Cash and Cash Equivalents
( 120,810)
( 162,292)
Cash and Cash Equivalents at Beginning of Year
528,212
690,504
---------
---------
Cash and Cash Equivalents at End of Year
407,402
528,212
---------
---------
Heel and Toe Ltd
Notes to the Financial Statements
Year Ended 31 December 2024
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 40 Front Street, Pelton, Chester-Le-Street, County Durham, DH2 1DE.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. The entity is a Public Benefit Entity.
Going Concern
There are no material uncertainties about the charity’s ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values. Designated funds are unrestricted funds earmarked by the trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. Investment income is included when receivable. Income from charitable trading activity is accounted for when earned. Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
Tangible Assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. The costs of minor additions or those costing below £500 are not capitalised.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
1% straight line
Fixtures, Fittings & Equipment
-
20% reducing balance
Computer Equipment
-
Over 3 years straight line
Therapy & Sensory Equipment
-
20% reducing balance
Depreciation on freehold property has not ben provided for as it is considered to be immaterial.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment Property
Investment property is measured initially at cost and subsequently at fair value at the reporting date. Depreciation is not provided.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial Instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
4. Limited by Guarantee
The company is limited by guarantee. At 31st December 2024 there were 10 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.
The company is under the control of the directors as a body and as such is not controlled by any individual.
5. Donations and Legacies
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Donations
Donations
87,313
87,313
Gift Aid
26,717
26,717
Grants
The Masonic Charitable Foundation
30,115
30,115
The William Leech Foundation
5,000
5,000
Sport England
10,000
10,000
Baily Thomas Charitable Fund
Nationwide
Ballinger Charitable Trust
18,000
18,000
James Tudor Trust
5,000
5,000
Barbour Foundation
15,000
15,000
Awards For All
17,036
17,036
The Hospital Saturday Fund
Sir John Priestman Trust
5,000
5,000
The February Foundation
4,938
4,938
The Edward Gostling Trust
County Durham Community Foundation
5,000
5,000
Hobson Charity
The Bernard Sunley Foundation
Mortgage Advice Bureau Foundation
5,000
5,000
Percy Bilton Trust
5,000
5,000
The Shears Foundation
5,610
5,610
Small grants £3,000 and less
19,605
19,605
---------
---------
---------
114,030
150,304
264,334
---------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations
109,677
109,677
Gift Aid
34,442
34,442
Grants
The Masonic Charitable Foundation
30,116
30,116
The William Leech Foundation
Sport England
Baily Thomas Charitable Fund
4,500
4,500
Nationwide
9,000
9,000
Ballinger Charitable Trust
James Tudor Trust
Barbour Foundation
4,500
4,500
Awards For All
The Hospital Saturday Fund
7,000
7,000
Sir John Priestman Trust
5,000
5,000
The February Foundation
4,500
4,500
The Edward Gostling Trust
10,000
10,000
County Durham Community Foundation
Hobson Charity
3,937
3,937
The Bernard Sunley Foundation
10,000
10,000
Mortgage Advice Bureau Foundation
Percy Bilton Trust
The Shears Foundation
Small grants £3,000 and less
33,126
33,126
---------
---------
---------
144,119
121,679
265,798
---------
---------
---------
6. Charitable Activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Hydrotherapy
95,382
95,382
84,702
84,702
Speech & language
36,066
36,066
35,766
35,766
Physiotherapy
45,537
45,537
40,154
40,154
Occupational Therapy
5,366
5,366
14,075
14,075
Other services
7,354
7,354
4,560
4,560
---------
---------
---------
---------
189,705
189,705
179,257
179,257
---------
---------
---------
---------
7. Other Trading Activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Income from stores
15,781
15,781
12,423
12,423
Charity Ball
67,420
67,420
75,542
75,542
Great North Run
111,712
111,712
111,972
111,972
Brick Services Ball
30,169
30,169
32,130
32,130
Other fundraising events
177,002
177,002
174,265
174,265
---------
---------
---------
---------
402,084
402,084
406,332
406,332
---------
---------
---------
---------
8. Investment Income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Rental income
54,021
54,021
58,431
58,431
--------
--------
--------
--------
9. Costs of Other Trading Activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Costs of other trading activities - Membership schemes and social lotteries
104,861
104,861
107,335
107,335
---------
---------
---------
---------
10. Expenditure on Charitable Activities by Fund Type
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Expenditure on charitable activities
704,132
151,567
855,699
Support costs
1,440
1,440
---------
---------
---------
705,572
151,567
857,139
---------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Expenditure on charitable activities
828,677
46,930
875,607
Support costs
1,400
1,400
---------
--------
---------
830,077
46,930
877,007
---------
--------
---------
11. Expenditure on Charitable Activities by Activity Type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Expenditure on charitable activities
855,699
855,699
875,607
Governance costs
1,440
1,440
1,400
---------
-------
---------
---------
855,699
1,440
857,139
877,007
---------
-------
---------
---------
12. Net Expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
6,209
6,469
-------
-------
13. Independent Examination Fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,440
1,400
-------
-------
14. Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
560,658
556,820
Social security costs
42,893
42,233
Employer contributions to pension plans
25,689
29,120
---------
---------
629,240
628,173
---------
---------
The average head count of employees during the year was 24 (2023: 24 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Number of fundraising staff
2
2
Number of administration staff
2
2
Number of management staff
1
1
Number of clinical staff
19
19
----
----
24
24
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £35,400 (2023:£41,954).
15. Trustee Remuneration and Expenses
Trustees received no remuneration or expenses during the current or previous year.
16. Tangible Fixed Assets
Freehold property
Fixtures, Fittings & Equipment
Computer Equipment
Therapy & Sensory Equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
1,088,211
40,519
56,578
46,177
1,231,485
Additions
7,274
4,418
11,692
Revaluations
( 2,873)
( 2,873)
------------
--------
--------
--------
------------
At 31 December 2024
1,092,612
40,519
56,578
50,595
1,240,304
------------
--------
--------
--------
------------
Depreciation
At 1 January 2024
242,612
34,457
50,966
39,647
367,682
Charge for the year
1,213
2,806
2,190
6,209
------------
--------
--------
--------
------------
At 31 December 2024
242,612
35,670
53,772
41,837
373,891
------------
--------
--------
--------
------------
Carrying amount
At 31 December 2024
850,000
4,849
2,806
8,758
866,413
------------
--------
--------
--------
------------
At 31 December 2023
845,599
6,062
5,612
6,530
863,803
------------
--------
--------
--------
------------
17. Investments
Investment properties
£
Cost or valuation
At 1 January 2024 and 31 December 2024
580,000
---------
Impairment
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December 2024
580,000
---------
At 31 December 2023
580,000
---------
All investments shown above are held at valuation.
Investment properties
The investment properties are valued annually by Peter Bartley, Trustee who is the Group Director of Bradley Hall, Chartered Surveyors and Estate Agents. Peter Bradley is a Chartered Surveyor (MRICS).
Investments comprise investment properties in Sherburn, Gateshead, Wallsend and Alnwick.
18. Stocks
2024
2023
£
£
Merchandise stock
1,400
1,400
-------
-------
19. Debtors
2024
2023
£
£
Trade debtors
14,041
7,252
Prepayments and accrued income
18,619
11,381
Gift Aid debtor
4,933
7,305
Other debtors
900
--------
--------
37,593
26,838
--------
--------
20. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
47,628
41,123
Accruals and deferred income
1,400
1,400
Social security and other taxes
10,746
15,835
Other creditors
2,500
2,500
--------
--------
62,274
60,858
--------
--------
The bank loans are secured by legal charges over 40 Front Street Pelton, 80-84 Park Road Wallsend and the hydrotherapy centre.
21. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
265,970
320,102
---------
---------
The bank loans are secured by legal charges over 40 Front Street Pelton, 80-84 Park Road Wallsend and the hydrotherapy centre.
Included within creditors: amounts falling due after more than one year is an amount of £111,291 (2023: £181,441) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The two mortgages are repayable in instalments over 5 and 15 years at varying interest rates of 2.54% and 3.56% above Bank Base Rate.
22. Pensions and Other Post Retirement Benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 25,689 (2023: £ 29,120 ).
23. Analysis of Charitable Funds
Unrestricted funds
At 1 Jan 2024
Income
Expenditure
Transfers
Gains and losses
At 31 Dec 2024
£
£
£
£
£
£
General Funds
436,233
759,840
(804,224)
(49,320)
342,529
Capital Fund
1,106,744
(6,209)
49,320
(2,873)
1,146,982
------------
---------
---------
--------
-------
------------
1,542,977
759,840
(810,433)
(2,873)
1,489,511
------------
---------
---------
--------
-------
------------
At 1 Jan 2023
Income
Expenditure
Transfers
Gains and losses
At 31 Dec 2023
£
£
£
£
£
£
General Funds
620,640
788,139
(930,943)
(41,603)
436,233
Capital Fund
1,033,177
(6,469)
80,036
1,106,744
------------
---------
---------
--------
----
------------
1,653,817
788,139
(937,412)
38,433
1,542,977
------------
---------
---------
--------
----
------------
The capital fund is the value of assets held offset by loans held with security against those assets.
Restricted funds
At 1 Jan 2024
Income
Expenditure
Transfers
Gains and losses
At 31 Dec 2024
£
£
£
£
£
£
Clothworkers' Foundation
The Bernard Sunley Foundation
The February Foundation
4,938
4,938
Hobson Charity
Barbour Foundation
4,500
15,000
(4,500)
15,000
Sir John Priestman Charity Trust
5,000
5,000
Baily Thomas Charitable Fund
Beatrice Laing Trust
The Edward Gostling Foundation
10,000
(10,000)
The Masonic Charitable Foundation
30,116
30,115
(30,116)
30,115
Nationwide
9,000
(9,000)
The Hospital Saturday Fund
7,000
(7,000)
The Guyll Leng Trust
3,000
(3,000)
The Joicey Trust
3,000
(3,000)
The Hedley Foundation
3,000
(3,000)
Awards For All
17,036
(17,036)
Ballinger Charitable Trust
18,000
(18,000)
Sport England
10,000
10,000
County Durham Community Foundation
5,000
(5,000)
Percy Bilton Trust
5,000
(5,000)
James Tudor Foundation
5,000
(5,000)
The Shears Foundation
5,610
(5,610)
The William Leech
5,000
(5,000)
Mortgage Advice Bureau Foundation
5,000
5,000
Other grants £3,000 or less
6,700
19,605
(21,305)
5,000
--------
---------
---------
----
----
--------
76,316
150,304
(151,567)
75,053
--------
---------
---------
----
----
--------
At 1 Jan 2023
Income
Expenditure
Transfers
Gains and losses
At 31 Dec 2023
£
£
£
£
£
£
Clothworkers' Foundation
40,000
(2,785)
(37,215)
The Bernard Sunley Foundation
10,000
(10,000)
The February Foundation
4,500
(4,500)
Hobson Charity
3,937
(3,937)
Barbour Foundation
4,500
4,500
Sir John Priestman Charity Trust
5,000
(5,000)
Baily Thomas Charitable Fund
4,500
(4,500)
Beatrice Laing Trust
2,000
(2,000)
The Edward Gostling Foundation
10,000
10,000
The Masonic Charitable Foundation
30,116
30,116
Nationwide
9,000
9,000
The Hospital Saturday Fund
7,000
7,000
The Guyll Leng Trust
3,000
3,000
The Joicey Trust
3,000
3,000
The Hedley Foundation
3,000
3,000
Awards For All
Ballinger Charitable Trust
Sport England
County Durham Community Foundation
Percy Bilton Trust
James Tudor Foundation
The Shears Foundation
The William Leech
Mortgage Advice Bureau Foundation
Other grants £3,000 or less
22,126
(14,208)
(1,218)
6,700
--------
---------
--------
--------
----
--------
40,000
121,679
(46,930)
(38,433)
76,316
--------
---------
--------
--------
----
--------
The grant from the Percy Bilton Trust is towards equipment.
The grant from the Ballinger Charitable Trust is towards core costs.
The grants from the Edward Gostling Foundation, Awards For All, County Durham Community Foundation and the James Tudor Foundation are towards sensory integration therapy.
The grants from the Masonic Charitable Foundation, Nationwide, the Hospital Saturday Fund, the Guyll Leng Trust, the Joicey Trust and the Hedley Foundation are all towards hippotherapy.
The grants from the February Foundation, the Barbour Foundation, Sir John Priestman Charity Trust, Sport England, the Shears Foundation, the Mortgage Advice Bureau Foundation and the William Leech Foundation are all towards rebound therapy.
24. Analysis of Net Assets Between Funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
866,413
866,413
Investments
580,000
580,000
Current assets
371,342
75,053
446,395
Creditors less than 1 year
(62,274)
(62,274)
Creditors greater than 1 year
(265,970)
(265,970)
------------
--------
------------
Net assets
1,489,511
75,053
1,564,564
------------
--------
------------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
863,803
863,803
Investments
580,000
580,000
Current assets
480,134
76,316
556,450
Creditors less than 1 year
(60,858)
(60,858)
Creditors greater than 1 year
(320,102)
(320,102)
------------
--------
------------
Net assets
1,542,977
76,316
1,619,293
------------
--------
------------
25. Analysis of Changes in Net Debt
At 1 Jan 2024
Cash flows
At 31 Dec 2024
£
£
£
Cash at bank and in hand
528,212
(120,810)
407,402
Debt due within one year
(41,123)
(6,505)
(47,628)
Debt due after one year
(320,102)
54,132
(265,970)
---------
---------
---------
166,987
( 73,183)
93,804
---------
---------
---------
26. Related Parties
Fees of £21,970 (2023 - £18,464) were paid to Bradley Hall, Chartered Surveyors and Estate Agents for management of the investment properties. Mr P Bartley is a director of Bradley Hall and a trustee of Heel & Toe. The charity's pension scheme is managed by St James' Place Wealth Management. Mr P Gilsenan is the principal of Paul Gilsenan Wealth Management, a partner practice of St James' Place Wealth Management and he is also a trustee of the charity. No fees were paid by the charity to St James' Place Wealth Management during the year.