THE LARCHES TRUST LIMITED
Charity Registration No. 1049243 Company Registration No. 03101192 9England and Wales)
THE LARCHES TRUST LIMITED
TRUSTEES REPORT AND UNAUTIED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
THE LARCHES TRUST LIMITED
Contents
Pages Report of the Management Committee 1-4 Independent Examiners Report 5 Statement of Finance Activities 6 Balance Sheet 7 Notes forming part of the financial statements 8-16
THE LARCHES TRUST LIMITED
Legal and Administrative Information
Company Charity Name: The Larches Trust Limited
Charity Registration No. 1049243
Company Registration No.
03101192
Registered Office and Operational address:
Larches House, 1 Rectory Lane Edgware, Middlesex, HA8 7LF
Trustees/Directors Sasha Holyoke – Treasurer Gemma Gordon Johnson Tirza Waisel Angela Brooks
Chief Executive & Company Secretary Linda Edwards MBE
Bankers:
Barclays Bank PLC, 1 North End, Croydon, Surrey, CR9 1RN
THE LARCHES TRUST LIMITED
Trustees Report
The trustees are pleased to present their annual directors' report for the year ending 30th September 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS 102) (effective 1 January 2015).
Trustees
Trustees that served during the year are as follows:
Sasha Holyoke – Treasurer Appointed 18/12/18
Gemma Gordon Johnson – Appointed 29/11/18
Tirza Waisel – Appointed 29/11/18
Angela Brooks – Appointed 28/07/21
None of our trustees are body corporate, but are individuals in their own right. We are governed by M emorandum and Articles of Association, Incorporated 12th September 1995.
The methods adopted for the recruitment and appointment of new trustees are subject to the provisions of the Act. The trustees may appoint one or more of their numbers to the Board. Any such appointment may be made upon such terms as the trustees determine. W e recruit trustees from our supporters and from local and national businesses and the community. Potential trustees are initially invited to visit the charity and to meet with the CEO, chair and any other trustees as appropriate. Following an initial period of familiarisation, potential trustees are invited to attend one or more meetings of the Trustee Board as observers and to make a short presentation to the Board, following which they will be considered for election to the Board by the service trustees, any appointment of a trustee to an executive office shall terminate if he / she ceases to be a trustee. A managing director and a trustee holding any other executive office shall not be subject of retirement by rotations.
Public Benefit - the Trustees confirm that they have complied with their duty under the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
Objects of the charity - to relieve adults with a learning disability (particularly, but not exclusively, those of the Jewish faith) by the management of suitable accommodation and provision of facilities for education, training and recreation for such persons.
Summary of the main achievements of the charity during the year
Learning for Life programme delivered via Zoom. Co-Production. Keeping the Charity running through our toughest challenge to date. Begin the process of the Re-development to provide homes for people with learning disabilities, Drama Academy and Social Enterprise.
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October-November-December 2020.
As the global Pandemic of Covid 19 continued to ravage the world, we found ourselves in a position of navigating these tricky times. Our hall remained closed to Learners and hall hire, meaning our much loved and valued Learning for Life program continued to be delivered weekly via Zoom.
This gave us an opportunity to expand within a digital field, something as a charity we had never ventured into. As like many of us found ourselves adapting to Zoom life, our Learners also rose to this challenge.
We introduced a Sunday Coffee morning and a Co-production session, all held via Zoom. This shift from real time space to digital has been an enormous learning curve for us as a charity.
Coffee Mornings :
The new Coffee Morning sessions we began to deliver from the need of isolation, loneliness, and increased anxiety are monthly Coffee Mornings and Co-Production/Planning Together meetings. Coffee Mornings on a Sunday morning have been in the main, structured and based on achieving outcomes including self-esteem, confidence, accepting, loving and valuing ourselves and each other.
Later we began to relax the content of the session and encourage learners to lead the discussion and topics. We experienced a change in confidence and people being proactive in introducing the sessions, each other and ending the sessions.
Co-Production: (Working Together)
This has been focused on what people want from Larches Community in the future. We have included sessions in Self Advocacy to encourage self-confidence and people who may not usually speak, become more confident in speaking. We have become very creative and encouraged people to become more curious at the achievements and contribution they can make. All our resources have been presented in Easy Read by an experienced facilitator.
Ambassadors Programme
This is being funded by London Borough of Barnet and we are adapting the content from the original project plan, to be on zoom.
Redevelopment
It was decided at the end of 2020 that we would endeavor to move forward with the ReDevelopment of the Larches building.
January – February - March 2021
As Covid 19 restrictions continued to impact Face to Face gatherings, the hall remained closed to all Learners and community hall hire.
Linda remained on furlough and staff, trustees and volunteers continued to keep the charity running, applying for funding, grants and working on administrative tasks.
May – June - July 2021
Business plan began to take shape and all relevant documents collated for the first stage of the re development process. Trustees and Volunteers worked on these alongside building the website and maintaining the charity. Co-Production continued along with Coffee mornings and our Learners had embraced the Zoom sessions as part of their Larches routine.
As Linda remained on Furlough, the trustees continued to step in to keep the charity afloat.
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Fortnightly meetings were introduced to discuss and collate admin, business plan and relevant documents Barnet Council required from us.
August – September - October 2021
Over the course of the Pandemic, we strived to continue our service to Learners, although at times, challenging, we held true that promise.
Learning for Life, Coffee Mornings and Co Production meetings were now in their own rhythm and carrying on in our digital space.
We had somehow stayed afloat through the toughest of times, a reason to celebrate this huge achievement. More reason to celebrate was when Linda was nominated for a Heroine of Barnet Award. An award which highlighted achievements and endeavors from Community Members and their efforts through the Pandemic.
As Linda wanted to recognise the work of the trustees that had helped, she also requested two trustees also be included in this award. September saw us begin the process of re-opening the hall for hire, in line with Government guidelines. We made the decision to keep Learning for Life on Zoom for the safety of our vulnerable Learners.
Trustees and volunteers continue to work on the website and marketing strategy, with a plan that the site would be live by the end of the year.
We are grateful to all our funders who supported us with funding towards our educational, vocational and recreational programmes as subsidised learners’ fees do not fully cover our tutors and other associated costs. We extend our sincerest gratitude to those funders who supported us during the most difficult of Covid times. We are so proud that through such a tough year we regularly continued to serve our Learners and move forward with the plans around the redevelopment.
It has been a challenging time for the charity and we look forward to moving forward through the next phase of our growth and service.
Financial Revie w
The income for the year was £68,588 (2020: £79,635). Total expenditure was £67,548 ( 2020: £78,904). Overall savings in this year were £1,040. The organisation continues to review its fundraising strategy and is taking action to containing expenditure and applies for more funding in the forthcoming year.
Risk management
The trustees have a risk management strategy which comprises:
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an annual review of the principal risks and uncertainties that the charity undertake
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the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
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the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The Trustees constantly review risks relevant to the charity. Any risks identified are reported to the Trustees and decisions made on how to minimise risk.
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Reserves policy and going concern
The Larches needs reserves to provide working capital for activities that are not underpinned by restricted reserves; to meet planned and foreseeable unplanned maintenance and repair costs for property and office equipment, and to ensure that it can meet its contractual liabilities (including redundancy pay and amounts owing to creditors) in the event of a shortfall in expected income. In the current, uncertain funding environment, the trustees consider that the optimal level of reserves for the charity to hold to ensure that it can continue to provide a stable and quality service to its stakeholders is equivalent to three months of its operating income. The trustees have agreed we should aim to have 4 months reserves in our policy. We have no funds held as a Custodian trustee.
Related parties and co-operation with other organisations
None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with its members must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported other than that mentioned in note 24.
Responsibilities of the director s/ trustees
The charity trustees (who are also the directors of The Larches Trust Ltd for the purposes of company law ) are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair vie w of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate 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 jurisdictions.
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THE LARCHES TRUST LIMITED
On behalf of the Board of Trustees
Sasha Holyoke (Treasurer) Dated:
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Independent examiner's report to the trustees of The Larches Trust Limited
I report on the accounts of the company for the year ended 30th September 2020, which are set out on pages 8 to 16.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) or under Regulation 10 (1)(a) to (c) of The Charities Accounts (Scotland) Regulations 2006 (the 2006 Accounts Regulations) and that an independent examination is needed. The charity is required by company law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of the Association of Independent Examiners.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
examine the accounts under section 145 of the 2011 Act);
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention (other than that disclosed below *) to indicate that:
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accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
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the accounts do not accord with such records:
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where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102)
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any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
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THE LARCHES TRUST LIMITED
THE LARCHES TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR END 30 SEPTEMBER 2021
| Notes Incoming Resources Donations & Legacies 12 Investment income 13 Income from Charitable activities 21 Other income Total Incoming Resources Resources Expended Expenditure on raising funds Expenditure on charitable activities 19 Net income/(outgoings) Balances brought forward Balances carried forward |
Unrestricted Designated Restricted Total Total Funds Funds Funds Funds Funds 2021 2020 £ £ £ £ £ 4,917 - 4,917 2,520 2,732 - 2,732 41,714 13,030 23,500 36,530 35,401 24,409 24,409 |
|---|---|
| 45,088 - 23,500 68,588 79,634 |
|
| - 48,589 3,506 15,453 67,548 72,468 |
|
| 48,589 3,506 15,453 67,548 72,468 |
|
| (3,501) (3,506) 8,047 1,040 7,167 |
|
| 18,231 215,134 4,318 237,683 239,233 |
|
| 14,730 211,628 12,365 238,723 246,400 |
Dated: 27 June 2022
Eric Asamoa, Independent Examiner
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THE LARCHES TRUST LIMITED
BALANCE SHEET AS AT 30 SEPTEMBER 2021
| Notes Fixed Assets Tangible assets 18 Current Assets Debtors 15 Cash at bank and in hand Current Liabilities Creditors: Amount falling due within one year 16 Net Current Assets Creditors: Amount falling due after more than a year 17 Net Assets As represented by: Restricted Fund 14 Unrestricted Fund Designated Fund Other Charitable Funds Total Funds |
2021 £ 518,523 30,900 8,918 33,949 5,869 285,671 238,723 15,453 211,628 11,642 238,723 |
2020 £ 521,679 26,590 14,302 25,720 |
|---|---|---|
| 15,172 | ||
| 299,170 | ||
| 237,683 | ||
| 4,318 215,134 18,231 |
||
| 237,683 |
(The notes form part of this account)
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The accounts were approved by the Directors on 27 June 2022 and signed on their behalf by:
Sasha Holyoke (Treasurer)
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THE LARCHES TRUST LIMITED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[TH] SEPTEMBER 2020
1. Accounting basis.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Larches Trust Limited meets the definition of a public benefit entity under FRS 102. A ssets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
b) Reconciliation with previous Generally Accepted Accounting Practice
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. At the date of transition in applying the requirement to recognise liabilities arising, no restatements were required. In accordance with the requirements of FRS 102 a reconciliation of opening balances is provided.
c) Preparation of the accounts on a going concern basis
The Charity trustees are of the view that measures taken subsequent to the year-end to reduce operating costs and successful in applying for continuation funding have secured the immediate future of the Charity for the next 12 to 18 months and that on this basis the charity is a going concern.
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Cash Flow S tatement The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the charity is small.
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Income is recognised in the period to which it relates, unless specified otherwise by the funder. Project funding is, in general, repayable if not expended within the relevant project. Such income is only recognised to the extent that it ceases to be repayable. The income is accounted for on a receivable basis.
4. Resource Expended Resources expended are included in the Statement of Financial Activities inclusive of VA T which cannot be recovered. Direct charitable expenditure include includes the direct costs of the activities. Where such costs relate to more than one functional cost category, they have been apportioned in line with the direct costs of the relevant service.
5. Fund Accounting Fund accounting unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted
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funds are donations which the donor has specified are to be solely used for particular areas of the charity's work.
6. Support Cost: Allocation of support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, and governance costs which support the Charity activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 20.
7. Leasing and hire purchase commitments: Rentals payable under operating leases are charged against income on a straight-line basis over the period of the lease.
8. Taxation: The Larches Trust limited is a registered charity and is not liable for corporation tax on its income under section 505 of the Income and Corporation Taxes Act 1988 to the extent that it is applied to its charitable activities.
9. Tangible fixed assets: Fixed assets are stated at cost less accumulated depreciation.
Depreciation is provided to write off the cost, of all fixed assets over their expected useful life as follows:
Fixtures and Fittings - Property improvements -
20% reducing balance 5% straight line
10. Staff Costs and numbers
| Salaries and Wages Social Security Costs |
2021 £ 23,340 3,753 27,093 |
2020 £ 53,280 5,942 |
|---|---|---|
| 59,222 |
The total numbers of employee were 2 in this year.
None of the employees received emoluments in excess of £60,000 in the year or the previous year. Trustees are not remunerated.
11. Status
The Larches Trust Limited is a registered charity and registered company limited by guarantee
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12. Donations and Legacies
| Donations and Legacies 3. Investment Income Rental Income Interest Receivable |
Unrestricted Restricted Total Total Funds Funds 2021 2020 |
Unrestricted Restricted Total Total Funds Funds 2021 2020 |
|---|---|---|
| 4,917 | 4,917 2,520 |
|
| 2021 2020 2,732 41712 0 1.7 2,732 41,714 |
13. Investment Income
14. Analysis of Restricted Fund
| Shoresh Awards for All Covid-19 Emergency |
Bal at 1st Incoming Outgoing Balance at Oct-20 Resources Resources 30-Sep- 21 £ £ £ £ 2,899 3,500 1,778 4,621 1,419 10,000 7,213 4,206 - 10,000 6,463 3,537 |
|---|---|
| 4,318 23,500 15,453 12,365 |
The purpose of the fund: -
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Social Enterprise - People with learning disabilities are making handmade cards, candles, diffusers, bookmarks and household accessories in our pilot craft social enterprise from a business plan developed by a volunteer from Middlesex University.
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Covid-19 Emergency Fund- To support admin cost
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15. Debtors & Accrued Income
| Accrued Income Prepayments |
2021 2020 £ £ 30,861 26,551 39 39 |
|---|---|
| 30,900 26,590 |
16. Creditors – Amount falling due within one year
| Bank Loan Social security & pension Other creditors Accruals |
2021 2020 £ £ 8,150 8,900 24,199 13,878 300 342 1,300 2,600 |
|---|---|
| 33,949 25,720 |
17. Creditors – Amount falling due after more than one year
| Other creditors Mortgage Loan maturity analysis Debt due in one year or less In more than one year but not more than two years In more than two years but not more than five years |
2021 2020 £ £ 73,800 79,000 211,871 220,170 |
|---|---|
| 285,671 299,170 |
|
| 2021 2020 £ £ 8,900 8,900 8,900 8,900 26,700 26,700 |
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In more than five years
168,576 175,670 213,076 220,170
Included within the liabilities above is a loan of £73,800 from the Chief Executive made to the charity. The loans are interest free and are to be repaid by the charity when it can afford.
18. Tangible Fixed Asset
2021
| FIXED ASSET Cost At 1 Oct 2020 Additions in year At 30 September 2021 Depreciation At 1 Oct 2020 Charge for the year At 30 Sept 2021 Net Book Value 30 September 2021 Net Book Value 30 September 2020 |
Land and Buildings Fixtures, Fittings & Equipment Property Total £ £ 499,522 68,559 20,991 589,072 350 - 350 |
|---|---|
| 499,522 68,909 20,991 589,422 |
|
| - 60,995 6,398 67,393 2,592 914 3,506 |
|
| - 63,587 7,312 70,899 |
|
| 499,522 5,322 13,679 518,522 |
|
| 499,522 10,086 15,507 525,116 |
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19. Expenditure on Charitable Activities
| Charitable Activities Salary cost Sessional worker Volunteers Expenses Project activity costs & Mosaic Staff Training Subscriptions & Reference Materials Publicity & Advertising Staff Expenses & Travel Administration & Office Expenses Independent Examination Professional and Consultancy fees Insurance Trustees Expenses Premises Cost Finance Cost Depreciation Total Charitable Activities |
Unrestricted Funds 21,293 612 870 276 5,072 1,300 4,397 3,329 6,908 4,807 3,506 |
Designated Funds |
Restricted Total Total Funds Funds Funds 2021 2020 5,800 27,093 50,729 4,575 4,575 - - 36 - 4,236 612 - 870 788 - - - - 5,072 800 1,300 1,200 4,397 300 3,329 2,800 - - 5,078 11,986 6,489 4,807 5,090 3,506 3,436 |
|
|---|---|---|---|---|
| 52,370 | - | 15,453 67,548 75,904 |
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20. Support and Governance Costs
| Administration and Office Expenses Independent Examination Professional Fees Insurance Trustees Expenses Premises Cost Finance Cost Depreciation |
General Support Governanc e Total £ £ £ 5,072 5,072 1,300 1,300 4,397 4,397 3,329 3,329 - 6,908 6,908 4,807 4,807 3,506 3,506 |
|---|---|
| 23,622 5,697 29,319 |
21. Restricted Grant Receivable Funder
| Awards for All Shoresh Trust Covid-19 Emergency |
2021 2020 £ £ 10,000 - 3,500 - 10,000 - |
|---|---|
| 23,500 - |
23. Reserves
The restricted funds are restricted income funds given to the charity for specific purposes. They are expendable by the trustees in furtherance of particular projects within the charity objects. Where the restriction relates to the acquisition of fixed assets, then it is treated as having as having been satisfied once the particular assets have been purchased and the appropriate amount is transferred to the unrestricted funds.
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The unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity.
24. Related Parties
The charity’s Chief Executive, Linda Edwards loan of £79,000 to the charity. £5,000 was repaid in the year. The loan balance £77,800 was outstanding at 30 September 2020.
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