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2023-08-31-accounts

Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note 2023 2023 2023 2022
INCOME FROM:
Donations 23,918 23,918 29,052
Charitable
activities		 691,002 355,121 1,046,123 993,832
Investment
income		 19,146 19,)46 5,801
TOTAL INCOME 734,066 355,121 1,089,187 1,028,685
EXPENDITURE ON:
Charitable
activities		 669,940 367,842 1,037,782 1,088,572
TOTAL EXPENDITURE 669 940 367 842 1037782 1 088 572
Net income / (expenditure) for the year 64,126 (12,721) 51,405 (59,887)
Transfers
between		 funds
Net movement
in funds		 64,126 (12,721) 51,405 (59,887)
Total funds brought forward 568,197 416,713 984,910 1,044,797
Total funds carried forward 13 632 323 403 992 1036315 984 910

Balance Sheet
As at 31Au ust 2023
2023 2023 2022 2022
Notes g g
FIXEDASSETS
Tangible assets 28,242 34,180
CURRENT ASSETS
Debtors 9 368,270 217,130
Cash at bank and in hand 1,316,995 1,042,271
1,685,265 1,259,401
CREDITORS: Amounts falling
due within one year 10 ~677 192 308 671
NET CURRENT ASSETS 1 008073 950730
TOTAL NET ASSETS 1,036,315 984,910
FUNDS
Restricted funds 403,992 416,713
Unresnicted funds:
General funds 632,323 568,197
Total unrestricted funds 632,323 568,197
TOTAL FUNDS 13 1 036315 986910

Statement ofCash Flow s
For the Year Ended 31 Au ust 2023
Note 2023 2023 2022 2022
f.
Net cash provided
by / (used in)
operating
activities		 16 258,397 (388,654)
Cash flows from investing activities:
Interest/
rent/ dividends
from
investments 19,146 5,801
Sale/(purchase)
of fixed assets		 (2,819) (I0,919)
Cash provided
by /(used		 in) investing
activities 16,327 (5,118)
Change
in cash and cash		 equivalents
in the year 274,724 (393,772)
Cash and cash equivalents at the
beginning of the year 1,042771 1,436,043
Cash and cash equivalents at the end
ofthe year 17 I316995 I 042 271

AUGUST 2022 ( COMPA RATIVES)
Unrestricted Restricted
Funds Funds Total Funds
2022 2022 2022
INCOME FROM:
Donations 29,052 29,052
Charitable activities 471,668 522,164 993,832
Investment income 5,801 5,801
TOTAL INCOME 506,521 522,164 1,028,685
EXPENDITURE ON:
Charitable activities 552,204 536,368 1,088,572
TOTAL EXPENDITURE 552,204 536,368 1,088,572
Net income / (expenditure) for the year (45,683) (14,204) (59,887)
Transfers
between		 funds (12,047) 12,047
Net movement
in funds		 (57,730) (2,157) (59,887)
Total funds brought forward 625,927 418,870 1,044,797
Total funds carried forward 568,197 416,713 984,910

INCOME FROM DONATIONS
Unrestricted Restricted
Funds Funds Total Total
2023 2023 2023 2022
Aldgate
Community		 Fund 2,620 2,620
Bluespark
Foundation		 1,499
Edge Brokers Ltd 2,900
National
Lottery		 3,662 3,662 3,661
Other donations 6,165 6,165 17,992
Silicon Valley Bank 10,070 10,070
Tesco Community Grants 1,401 1,401
Wogen Anniversary Trust 3,000
TOTAL 23,918 23,918 29,052

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
f.
ADM Investor Services Ltd 64 8,750 8,814 6,892
Allen & Overy 14,062 8,000 22,062 9,379
Bank of England 1,024 10,500 11,524 8,677
Barclays 122,750 122,750 72,810
BBCChildren
in Need		 19,902
Bishop Challoner
School		 10,000 10,000
Blackrock Invesnnent 352 15,229 15,581 9,766
Bloomberg 768 5,000 5,768 1,550
BNP Paribas Asset Management 5,000 5,000
Canary Wharf Group 5,000 5,000
Clifford Chance 7,000 8,000 15,000 15,000
Clyde &Co LLP 1,380 8,000 9,380
Credit Suisse 2,814 2,814 8,170
Company ofActuaries Charitable Trust Fund 5,500 5,500
Foundation
for Future		 London 60,500 60,500 5,500
Fitch Ratings Ltd 64 5,110 5,174
Herbert
Smith Freehills		 6,700 6,700 6,956
ING 5,000 5,000 4,357
ION Trading UK Ltd 5,000 5,000
JP Morgan 8,816 42,984 51,800 295,768
Jack Petchey 10,680 10,680
KPMG 608 15,000 15,608 15,532
Lloyds 103,041 123,011 226,052 180,644
London Borough ofTower Hamlets 25,000 25,000 25,000
London Enterprise
Academy		 6,600 6,600
Man Group 30,408 30,408 28,800
Mulberry
Stepney Green Maths,		 Computing
and Science College 13,400 13,400 6,000
Paul Hastings
(Europe)		 LLP 32 5,000 5,032
SEIC 6,700 6,700 6,700
St Paul's Way trust School 20 500 20 500 7 500
Total carried forward 425,363 307,984 733,347 734,903

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
f f
Brought forward 425,363 307,984 733,347 734,903
Talbot Underwriting Ltd 10,000 10,000
The Buzzacott Stuart Defries Memorial Fund 448 5,000 5,448
The Edge Foundation 7,250
Travers
Smith		 3,582 5,000 8,582 7,420
Trowers & Hamlins 5,000
UBS 13,224 13,224 5,233
Others 45,785 27,137 72,922 86,426
Service Level Agreements:
SLA —Primary 24,600 24,600 17,600
SLA —Secondary 178,000 178,000 130,000
TOTAL 691002 355 121 I 046 123 993832

ANALYSIS OF EXPENDIT URE
Basis of Charitable Support Governance
allocation activities costs costs Total 2023 Total 2022
Audit fees Direct 5,000 5,000 5,000
Bad Debts Direct 208
Bank charges Direct 649 441
Bursaries paid Direct 20,500 20,500 18,700
Cleaning
services		 Direct 4,204 4,204 3,783
Consultancy Direct (3,500)
Depreciation Direct 8,757 8,757 10,764
Direct projects
expenditure		 Direct 76,289 76,289 222,347
Insurance
/health		 & safety Direct 5,331 5,331 4,921
IT&Telephone
costs		 Direct 67,125 67,125 72,697
Marketing
and website development		 Direct 21,475
Other sundry
expenses		 Direct 4,462 10,807 15,269 11,612
Other governance costs Dicot 4,040 4,040 2,414
Printing,
postage		 &. stationery Direct 4434 4,434 2,726
Rent and rates Direct 78,661 78,661 73,872
Staffcosts Direct 679,007 2,202 681,209 580,061
Subcontractors Staff time 18,050 27,522 45,572 44,743
Training
&recruitment		 Direct 20,742 20,742 16,308
798,308 229,785 9,689 1,037,782 1,088,572
Support costs Staff time 229,785 (229,785)
Governance
costs		 Staff time 9,689 (9,689)
Total expenditure 2023 I 037782 I 037782
Total expenditure 2022 I 088 572 I 088 572

NET INCOME / (EXPENIHTURE) NET INCOME / (EXPENIHTURE)
2023 2022
This is stated after charging:
Operating
lease rentals		 on property 71,705 66,832
Depreciation of tangible fixed assets 8,757 10,764
Auditors'
remuneration		 - audit services 4,167 4,167

STAFF COSTS
2023 2022
Employee
costs during		 the year amounted to:
Salaries 595,692 506,723
Social security costs 55,711 48,018
Pension costs 27,382 23,236
Health care costs 2,424 2,084
681209 580 061
the repor ting
period amounted
to over f60,0		 00 was as follows:
2022, 202$
No. No.
660,000 - f69,999 1 1

Fixtures
Computer Fittings &
Equipment Equipmentf Total
COST
At the beginning of the year 75,070 42,112 117,182
Additions 521 2,298 2,819
At the end of the year 75,591 44,410 120,001
DEPRECIATION
At the beginning of the year 48,452 34,550 83,002
Charge for the year 6 785 I 972 8 757
At the end of the year 55,237 36,522 91,759
NET BOOK VALUE
At the end ofthe year 20 354 7888 28 242
At the beginning of the year 26 618 7 562 34 180
9. DEBTORS
2023f 2022
f.
Grants and contract debtors 341,619 190,157
Prep ayments 10,189 10,511
Other debtors 16462 16462
368,270 217,130
10. CREDITORS: Amounts falling due within one year
2023 2022
Trade creditors 14,755 19,226
Accruals 5,851 5,000
Taxation and social security 19,992 12,250
Deferred income 617,915 263,794
Other creditors 18,679 8,401
677,192 308,671

ANALYSIS OF
2023		 NET ASSETSBETWEEN FUNDS FORTHE Y EARENDED 31AUGUSf
Unrestricted Restricted Total
Funds Funds Funds
2023 2023 2023
Funds Balances at 31August 2023
are represented by:
Tangible fixed assets 28,242 28,242
Net current assets 604,081 403,992 1,008,073
Total Net Assets 632 323 403 992 1 036315
ANALYSIS OF
2022		 NET ASSETSBETWEEN FUNDS FOR THE Y EARENDED 31AUGUS
Unrestricted Restricted Total
Funds Funds Funds
2022 2022f 2022
Funds Balances at 31August 2022
are represented by:
Tangible fixed assets 34,180 34,180
Net current assets 534,017 416,713 950,730
Total Net Assets 568 197 416713 984 910

For the Year Ende d 31Au
ust 2023		 d 31Au
ust 2023		 d 31Au
ust 2023		 d 31Au
ust 2023
13.
MOVEMENT		 IN FUNDS FOR THE YEAR ENDED 31AUGUST 2023
At the start At the end
ofthe year Income Expenditure Transfers ofthe year
5
Restricted funds:
Become More - Aspirations
(Aim 2 Attain) 91,484 16,536 (20,464) 87,556
Business mentoring 295,470 338,585 (347,378) 286,677
NNP-Curriculum 29 759 29759
Total restricted
funds		 416,713 355,121 (367,842) 403,992
Unrestricted
funds:
General funds 568,197 734,066 (669,940) 632,323
Total unrestricted funds 568,197 734,066 (669,940) 632,323
Total funds 984,910
1,089,187		 (1,037,782) 1,036,315
14.
MOVEMENT		 IN FUNDS FOR THE YEAR ENDED 31AUGUST 2022
At the At the
start of end ofthe
the year Expenditure Transfers year
Restricted funds:
Become More - Aspirations (Aim 2
Attain) 99,294 26,810 (34,620) 91,484
Business mentoring 295,576 238,745 (238,851) 295,470
NNP-Curriculum 29,759 29,759
Transitions
project		 (12,047) 12,047
IP Morgan Project 6 288 256 609 262 897
Total restricted
funds		 418870 522 164 536 368 12047 416713
Unrestricted
funds:
General
funds		 625,927 506,521 (522,204) (12,047) 568,197
Total unrestricted funds 625 927 506 521 522 204 12047 568 197
Total funds 1 044 797 1 028685 I 088 572 984910

16. RECONCILIATION OF NKT INCOME OF NKT INCOME / (EXPENDITURE) TO NET CASHFLOW
FROM OPERATING ACTIVITIES
2023 2022
Net movement
in funds for the reporting		 period 51,405 (59,887)
(as per the statement offinancial activities)
Depreciation 8,757 10,764
Interest, rent and dividends
from investments		 (19,146) (5,801)
(Increase)/ decrease in debtors (151,140) (140,471)
Increase/(decrease)
in		 creditors 368,521 (193,259)
Net cash provided
by		 / (used in) operating activities 258 397 388654
ANAL
2023		 YSIS OFCASH AND CASH EQUI VALENTS FOR THK YE AR ENDED 31AUGUST
At the start Cash At the end
ofthe year flows ofthe year
K g g
Cash at bank and in hand 1 042 71 274724 1 316995
Total cash and cash equivalents 1042 271 274 724 1316995
ANAL
2022		 YSIS OFCASH AND CASH EQUIV ALENTS FOR THK YE AR ENDED 31AUGUSI
At the At the end
start of Cash ofthe
the year flows year
g g
Cash at bank and in hand 1 436 043 393 772 1 042 271
Total cash and cash equivalents 1,436,043 393,772) 1,042,271

The min imum
annual
rentals payable
under		 the leases are as follows:
2023 2022
Within 1 year 76,463 71,463
Within 2-5 years 76,463
76 463 147926