REGISTERED COMPANY NUMBER: 02808298 {En8land and Wales) REGISTERED CHARITY NUMBER: 1031690 REGISTERED SCOTLAND CHARITY NUMBER: SC043250 Nordens The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY
Network ement cember 2023 r the Year En Pa8e Report of the Trustees Statement of Flnanclal Activlties Balance Sheet Notes to the Flnancial Statements Detalled Statement of Flnanclal Actlvltle5 io
Ne Re ort of the Trustees for the Year Ended 31 De em 23 The trustees who are also dlrertors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 (effective l January 20191. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlnff document The charity is controlled by Its governln8 document, a deed of trust, and constltutes a Ilmlted company, Ilmlted by 8uarantee. as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 02808298 (England and Wales) Re8lstered Charlty number 1031690 Reglstered offlce 26¢ Napier Road Luton LUI IRF Trustees Mr P D Spaven Retired Ms C Aird Charity CEO Mr D C Smitton International Financial Adviser Dr M S WSlbourn GPIGP Assessor Ireslgned 13. 12.231 Ms Y McAn8us Retired Iresi8ned 11.5.231 Mr B G Elwen Retired Iresigned 27.6.231 Mr F D Sudlow Retired Iresi8ned 27.6.231 Ms L Llttle Chlef Executlve Off icer (resigned 31.12.231 Approved by order of the board of trustees on and signed on its behalf by.. Mr P D Spaven- Trustee Page I
Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestrlcted funds Restrlcted fund Notes INCOME AND ENOOWMENTS FROM Donations and le8acies 22A45 22W5 16,831 Other Income Total 22,853 2153 16,831 EXPENDITURE ON Ralsing funds 763 763 1,986 Other 73,308 73.308 50,686 Totsl 74,071 74,071 52,672 Net 8alnslllossesl on Investments 6.611 6,611 NET INCOMEI{EXPENDITURE) 144,607) (44,607) 136,4181 RECONCILIATION OF FUNDS Total funds brought forward 238,562 238,562 274,980 TOTAL FUNDS CARRIED FORWARD 193,955 193,955 238,562 The notes form part of these financial statements Page 2
Thera Bal heet 31 December 2 nce 23 31.12.23 Total funds 31.12.22 Total funds Unrestrlcted funds Restrlcted fund Notes FIXED ASSET5 Social investments 186.095 186,095 234,282 CURRENT ASSETS Debtors Cash at bank 505 10,850 505 10,850 1,105 6,402 11.355 11.355 7.507 CREDITOR5 Amounts falling due wlthln one year (3,495) 13,495) 13,2271 NET CURRENT ASSETS 4,280 TOTAL ASSETS LESS CURRENT LIABILITIES 193,955 193,9S5 238,562 NEfASSETS 193,955 193,955 238,562 FUNDS Unrestrlcted funds 193,955 238,562 TOTAL FUNDS 193,955 238,562 The charitable company 15 entitled to exemption from audit under Section 477 of the Companies Act 2C#)6 for the year ended 31 December 2023. The members have not required the company to obtain an audit of Sts financlal statements for the year ended 31 December 2023 In accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responslbllltles for lal ensurlng that the charitable company keeps accountlng records that comply wlth Sectlons 386 and 387 of the Companies Act 2006 and preparin8 financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies ' Act {006 relating to flnancial statements, so far a5 applicable to the charitable coiiipany. Ibl The notes form part of these financial statements Page 3
Th wor Balanc he t - continue l December 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companles subjert to the small companies regime. The fin ncial statements were approved by the Board of Trustees and authori5ed for Issue on nd were signed on its behalf by.. Mr P D Spaven - Trustee The notes form part ofthese financial statements Page 4
Thera Notes t the Financial Sta ements for the Year Ended 31 December 202 ACCOUNTING POLICIES Basls of preparln8 the flnanclal statements The financial statements of the charitable company, which is a public benefit entlty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charitles-. 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 IFRS 1021 (effective l January 20191,, Flnancial Reportin8 Standard 102 'The Flnancial Reportin8 Standard applicable In the UK and Republlc of Ireland, and the Companies Act 2006. The flnancial statements have been prepared under the hlstorical cost conventlon. as modified by the revaluation of certain assets. Income All Income is reco8nSsed in the Statement of Financial Actlvlties once the charity has entitlement to the funds, It15 probable that the income wlll be received and the amount can be measured reliably. Expendfture Uablllties are recognlsed as expendlture as soon as there Is a le8al or constructive obligatlon committin8 the charity to that expendlture, it is probable that a transfer of economic benefits will be required In settlement nd the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headin8S that a8gre8ate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activitie5 on a basss consistent with the Use of resources. Taxatlon The charity is exempt f rom corporatlon tax on Its charltable attlvitles. Fund accoufitln8 Unrestricted funds can be used in accordance with the charltable objectlves at the dlscretlon of the trustees. Restricted fund5 can only be used for particular restricted purposes within the object5 of the charlty. Restrlction5 arlse when speclfied by the donor or when funds are raised for particular restrlcted purposes. Further explanatlon of the nature and purpose of each fund Is Included in the notes to the financlal statements. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneflts for the year ended 31 Oecember 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December2023 nor for the year ended .31 December 2022. Pa8e 5
roTh Network Notes to the Financial statement continued r the Year Ended 31 December 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestrlrted funds Restrlcted fund Total funds INCOME AND ENDOWMENTS FROM L)onations and legacies 16,831 16,831 EXPENDITURE ON Ralsln8 funds 1.986 1.986 Other 50,686 50,686 Total 52,672 52,672 Net galn5111ossesl on Investments 15771 NET INCOMEIIEXPENDITURE) 136,4181 136,4181 RECONCILIATION OF FUNDS Total funds brou8ht forward 274,980 274,980 TOTAL FUNDS CARRIED FORWARD 238,562 238,562 SOCIAL INVESTMENTS Other Investments MARKET VALUE At l January 2023 and 31 December 2023 264,760 PROVISIONS At ljanuary 2023 Revaluation adlustments 30,478 48,187 At 31 December 2023 78,665 NET FOOK VALUE At 31 December 2023 186,095 At 31 December 2022 234,282 Cost or valuation at 31 December 2023 is represented by.. Other Investment Cost 264,760 Pa8e 6
Network Notes to the Financial Statements - for the Year Ended 31 December 2023 DEBTORS: AMOUNT5 FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trade debtors Other debtors 495 io 920 185 505 1,105 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trade credltors Jersey social securlty Jersey penslon Accruals and deferred Income 1,764 59 232 1,728 59 1,440 3,495 3,227 MOVEMENT IN FUNDS Net movement In funds At 31,12.23 At l.l.Z3 Unrestrlcted funds General fund 238,562 (44.6071 193,955 TOTAL FUNDS 238,562 44,6071 193,955 Net movement In funds. Included in the above are as follows: Incomlnq resources Re$our¢es expended Galns and losses Movement In funds Unrestrlcted funds General fund 22A53 174,071) 6.611 (44,607) TOTAL FUNOS 22,853 74,0711 6,611 44,607) Pa8e 7
Network Notes to the Financial Statements- continue for the Year Ended 31 December 2023 MOVEMENT IN FUND5- contlnued Comparatlves for movement In funds Net movement In funds At 31.12.22 At 1.1.22 Unrestrlcted funds General fund 274,980 136,4181 238.562 TOTAL FUNDS 274,980 136,4181 238,562 Comparatlve net movement Sn funds, Included In the above are as follows.. Incornlng resources Resources expended Galns and losses Movement In funds Unrestilcted fund$ General fund 16,831 152,6721 15771 136,4181 TOTAL FUNDS 16,831 52,6721 36,4181 A current year 12 months and prlor year 12 months combined posltlon Is as follows.. Net movement In funds At 31.12.23 At 1.1.22 Unrestilcted lund$ General fund 274,980 181,0251 193.955 TOTAL FUNDS 274.980 81,0251 193,955 A current year 12 months and prlor year 12 months combined net movement In funds, included in the above are as follows: Incomln8 resources Resources expended 'Galns and losses Movement In funds Unrestrlcted funds General fund 39,684 1126,7431 6,034 181.0251 TOTAL FUNDS 39,684 1126,7431 6,034 181,0251 Pa8e 8
ro Thera Notes to the Flnanclal Statemen or the Year Ended 31 December 2023 ntin RELATED PARTY DISCLOSURE5 There were no related party transactions for the year ended 31 December 2023. COMPUTER COSTS Computer costs includes an amount of £14.789 forthe Nlmble Learning Management System. Pa8e 9
roTh Network etailed Statement of Financial Activitie for the Year Ended 31 December 2023 31.12.23 31.12.2Z INCOME AND ENDOWMENTS Donatlons and legacles Donations Subscriptlons 15,358 7,487 9,825 7.1x16 22,845 16,831 Other Income Interest income - non trade Total Incomlni rewurces 22,853 16,831 EXPENDITURE Ralslng donatlons and legacles Fundraisin8 and Publicity 763 1,989 Other tradln8 actlvftles Bank interest 131 Other General admln costs 4,171 1,458 Support costs Flnance Bank char8es 41 Governance costs Accountancy and legal fees Consultancy fees Salaries Computer costs Pensions Employers NIC Subscriptions 4,860 25,380 15,502 20,721 2,190 11,642 20,304 12,279 1,927 886 2.633 69,096 49,228 Total resources expended 74.071 52,672 Net expendlture before 8alns and losses 151,2181 135,8411 Reallsed reco8nlsed Balns and1055es Realised gains/llossesl on fixed a55et investments 6,611 1577) Net expendlture (44,607) 136,4181 This page does not form part of the statutory financlal statements Pa8e 10