0 false false false false false false true false false false false false true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024_Charity 8,533 8,308 56 8,364 169 225 xbrli:pure xbrli:shares iso4217:GBP 6354886 2023-09-01 2024-08-31 6354886 2024-08-31 6354886 2023-08-31 6354886 2022-09-01 2023-08-31 6354886 2023-08-31 6354886 2022-08-31 6354886 bus:LeadAgentIfApplicable 2023-09-01 2024-08-31 6354886 char:Trustee1 2023-09-01 2024-08-31 6354886 char:Trustee2 2023-09-01 2024-08-31 6354886 char:Trustee5 2023-09-01 2024-08-31 6354886 char:TotalUnrestrictedFunds 2023-08-31 6354886 char:TotalUnrestrictedFunds 2024-08-31 6354886 char:TotalUnrestrictedFunds 2023-08-31 6354886 char:TotalUnrestrictedFunds 2023-09-01 2024-08-31 6354886 char:TotalUnrestrictedFunds 2022-09-01 2023-08-31 6354886 core:WithinOneYear 2024-08-31 6354886 core:WithinOneYear 2023-08-31 6354886 bus:SmallEntities 2023-09-01 2024-08-31 6354886 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 6354886 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 6354886 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 6354886 bus:FullAccounts 2023-09-01 2024-08-31 6354886 core:ComputerEquipment 2023-09-01 2024-08-31 6354886 core:ComputerEquipment 2024-08-31 6354886 core:ComputerEquipment 2023-08-31
COMPANY REGISTRATION NUMBER: 6354886
CHARITY REGISTRATION NUMBER: 1141970
Wood N Wheels Regional Development Trust
Unaudited Financial Statements
For the Year Ending
31 August 2024
Wood N Wheels Regional Development Trust
Financial Statements
Year Ended 31 August 2024
Page
Trustees' Annual Report (Incorporating the Director's Report)
1
Statement of Financial Activities (Including Income and Expenditure Account)
4
Statement of Financial Position
5
Notes to the Financial Statements
6
Wood N Wheels Regional Development Trust
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 31 August 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 August 2024 .
Objectives and Activities
The Charity's objects are:
a) to promote and encourage for the public benefit the development in the community of and the provision of safe routes, paths and facilities for cycling, walking and other forms of low energy transport and to undertake and carry on projects and activities of a charitable nature which will assist in promoting healthful recreation, the protection of the environment and the conservation of energy resources;
b) to promote and develop physical health and mental wellbeing by learning from others' experiences of the natural environment and by developing sustainable ways to promote healthy activity through the use and enjoyment of nature and all things outdoor in a fun supporting framework centred in and around the local countryside based primarily but not exclusively in the north east of England.
The charity will work with and encourage others to participate from all social and economic groups, working with people with learning, mental and physical disabilities, and people with a disconnection to the wider society, children, young people and young adults working to get groups involved in eliminating the stigma and discrimination that are a common experience for people from these groups. The charity will be working to reduce this so that everyone can learn and be treated fairly, positively and with respect giving individuals the ability and tools to fulfil their full potential; and
c) To promote such other charitable purposes as may from time to time be determined.
Achievements and Performance
This report covers the year 2024.
Progress made from the last few years continues.
I have now a link and opportunities with local men's groups in:
- Ushaw Moor men's shed and garden project.
- Brandon men's project and help group.
- And Man-up project Durham.
We have also put offers in for two separate parcels of land to be linked with a future retreat project.
Things like this can be long winded and since both plots have their own possibilities and opportunities it makes little difference between the two. I am only looking for one and it will easily be more than enough for our needs. Both plots are or have been worked before and look to have been very productive in the past. Both need clearing and management as with many areas around us. One is more scrub and bramble, I am told that if it's fenced there is a option to get goats in and they will clear the brush right down to the roots and is an option that is essentially an organic way of working removing one of the hardest things to clear. The other has been part orchard and part worked, both are in need of regeneration work, the trees have not been trimmed in years though still producing apples and stone fruit. The worked land and between the trees is covered with a mix of bramble and fern, some of the trees will need to be taken down as they are past their best, where others just need a really big trim. Locally we can hire a man with a tractor and heavy cultivation equipment when needed, his rates are very reasonable and he will be very useful, particularly in early stages to speed up the heavy work.
Most things have gone well this year and we have achieved more than expected all round.
We need to speak to the planning office for guidance again this year. As progress is made they need to be informed and they have been very positive whenever we have met in the past, really happy to help is how I have found them.
One downside is that the local café hub, that I spent a lot of time with, has changed hands and I don't know if it's even open at the moment or what the future plans are for the building. All I do know is that there was a advertisement for a new operator through the Council but I don't know of any outcome.
The coming year will see a new staircase made along with another couple of doors in the same style as the last. Water system completed and the last of the block work finished in the main building. It will be ready for render/plaster soon after and the kitchen area in after that has dried out. If there is time I will start on the outside space, the lower flat area is just to tidy and get a feel for how the planned layout will look. This will give a good indication of how the space will flow to create different spaces with different feels for relaxation and contemplation. There is little point going too far as a digger will need to access a wall that needs some repair and any work would be better looked at after that has happened.
Financial Review
As at 31st August 2024 the charity held reserves of £13,255. This will be used to support future projects.
Structure, Governance and Management
Governing Document
The charity is a registered, independent charity and a company limited by guarantee. Wood N Wheels Regional Development Trust was incorporated as a company limited by guarantee on 29 August 2007 with company number 6354886 and is governed by its Memorandum and Articles of Association. It was registered as a charity on 17 May 2011 with charity number 1141970 .
Organisational Structure
Wood N Wheels Regional Development Trust is governed by its trustees, who are responsible for setting the strategic direction of the organisation. The trustees carry the ultimate responsibility for the conduct of Wood N Wheels Regional Development Trust and for ensuring that the charity satisfies its legal and contractual obligations.
The day to day operations of the charity are delegated to Martin Stout.
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.
Reference and Administrative Details
Registered charity name
Wood N Wheels Regional Development Trust
Charity registration number
1141970
Company registration number
6354886
Principal office and registered
26 Edward Terrace
office
New Brancepeth
Durham
DH7 7EN
The Trustees
Mr D Connock
Mr N J B Green
Mr M Stout
Accountants
Jane Ascroft Accountancy Limited
Chartered Accountants
Enterprise House
Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8XT
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 29 April 2025 and signed on behalf of the board of trustees by:
Mr M Stout
Trustee
Wood N Wheels Regional Development Trust
Statement of Financial Activities
(including income and expenditure account)
Year Ended 31 August 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Expenditure
Expenditure on charitable activities
5,6
272
272
297
----
----
----
Total expenditure
272
272
297
----
----
----
----
----
----
Net expenditure and net movement in funds
( 272)
( 272)
( 297)
----
----
----
Reconciliation of funds
Total funds brought forward
13,696
13,696
13,993
--------
--------
--------
Total funds carried forward
13,424
13,424
13,696
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Wood N Wheels Regional Development Trust
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible fixed assets
10
169
225
Current Assets
Cash at bank and in hand
13,783
13,855
Creditors: amounts falling due within one year
11
528
384
--------
--------
Net Current Assets
13,255
13,471
--------
--------
Total Assets Less Current Liabilities
13,424
13,696
--------
--------
Net Assets
13,424
13,696
--------
--------
Funds of the Charity
Unrestricted funds
13,424
13,696
--------
--------
Total charity funds
12
13,424
13,696
--------
--------
For the year ending 31 August 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.
These financial statements were approved by the board of trustees and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
Mr M Stout
Trustee
Wood N Wheels Regional Development Trust
Notes to the Financial Statements
Year Ended 31 August 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 26 Edward Terrace, New Brancepeth, Durham, DH7 7EN.
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. 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
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. 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:
Equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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 August 2019 there were 3 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.
5. Expenditure on Charitable Activities by Fund Type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Cost of charitable activities
56
56
75
75
Support costs
216
216
222
222
----
----
----
----
272
272
297
297
----
----
----
----
6. Expenditure on Charitable Activities by Activity Type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Cost of charitable activities
56
56
75
Governance costs
216
216
222
----
----
----
----
56
216
272
297
----
----
----
----
7. Net Expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
56
75
----
----
8. Staff Costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
9. Trustee Remuneration and Expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred.
10. Tangible Fixed Assets
Equipment
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
8,533
8,533
-------
-------
Depreciation
At 1 September 2023
8,308
8,308
Charge for the year
56
56
-------
-------
At 31 August 2024
8,364
8,364
-------
-------
Carrying amount
At 31 August 2024
169
169
-------
-------
At 31 August 2023
225
225
-------
-------
11. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
288
144
Other creditors
240
240
----
----
528
384
----
----
12. Analysis of Charitable Funds
Unrestricted funds
At 1 September 2023
Expenditure
At 31 August 2024
£
£
£
General fund
13,471
(216)
13,255
Capital fund
225
(56)
169
--------
----
--------
13,696
(272)
13,424
--------
----
--------
At 1 September 2022
Expenditure
At 31 August 2023
£
£
£
General fund
13,693
(222)
13,471
Capital fund
300
(75)
225
--------
----
--------
13,993
(297)
13,696
--------
----
--------
13. Analysis of Net Assets Between Funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
169
169
Current assets
13,783
13,783
Creditors less than 1 year
(528)
(528)
--------
--------
Net assets
13,424
13,424
--------
--------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
225
225
Current assets
13,855
13,855
Creditors less than 1 year
(384)
(384)
--------
--------
Net assets
13,696
13,696
--------
--------
14. Related Parties
The company was under the control of the trustees throughout the current period.