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2023-03-31-accounts

Charity registration number 1069548

Company registration number 03461665 (England and Wales)

GENERATE OPPORTUNITIES LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

GENERATE OPPORTUNITIES LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees G Sylvester
C Masterson
S Couldridge
R Murphy (Appointed 26 July 2023)
L Sebag-Montefiore (Appointed 9 November
2022)
C Threadgold (Appointed 9 November
2022)
Secretary M Dignam
Charity number 1069548
Company number 03461665
Registered office 73 Summerstown
Tooting
London
SW17 0BQ
Auditor Crossley Financial Accounting Limited
Star House
Star Hill
Rochester
Kent
ME1 1UX

GENERATE OPPORTUNITIES LTD

CONTENTS

Page
Trustees' report 1 - 8
Statement of Trustees' responsibilities 9
Independent auditor's report 10 - 13
Statement of financial activities 14
Statement of financial position 15 - 16
Statement of cash flows 17
Notes to the financial statements 18 - 34

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 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 2019)".

Objectives and activities Purposes and aims

Our Charity’s purpose as set out in the objects contained in the company’s Memorandum and Articles of Association are to promote the welfare, education, training and advancement in life of persons with learning disabilities and other disabilities so as to ensure that, as far as possible, they may develop as individuals and active citizens of society, and that the effects of their disability may be reduced.

Generate’s Vision is that people with disabilities should live as valued members of society, entitled to equal rights and choice and be enabled to live their lives with dignity and respect.

Generate’s Mission is to work together with people with a learning disability, autism and other disabilities to build better lives and connect to communities as equal citizens. Building on people’s strengths, we empower them to have a voice, make choices and enforce their rights and make a positive difference to their lives through learning, work and leisure.

Ensuring our work delivers our aims

We regularly review and report on our core activities and the benefits they have brought to people with a learning disability, autism and other disabilities. This process of review helps us to remain focussed on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit as part of our review process and consider how planned activities will contribute to the aims and objectives set by the Trustees and the Chief Operating Officer.

The focus of our work

The main focus of Generate’s work is the support and development of people with a learning disability and or Autism, although we do offer support to people with other disabilities via our Access to Work Project. We also run a series of health and wellbeing activities and host the website at www.easyhealth.org.uk which makes health information available to people with a learning disability and the people who support them. We also support our local NHS integrated care board (ICB) to improve the uptake of annual health checks and to produce accessible training and information literature.

Generate values difference and promotes inclusion and these core beliefs encourage us to offer support of the

highest quality which:

For our target cohort of people with a learning disability, we seek to support all aspects of a person's life at all stages of life: learning, leisure, employment and health and wellbeing and end of life.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Our current projects are designed to meet our aims:

Community Connections

The collective name for projects delivering outreach support (one-to-one), group activities, health and wellbeing initiatives, art classes and music classes. Community Connections offers a range of support options and activities to around 100 people with learning disabilities and autism. The outreach element offers 1-1 facilitation to access to the community, learning, employment, health services and to assist with the day-to-day management of living an independent life.

Group projects provide daily access to health and wellbeing programs, independent life skills courses, sport and exercise and social connections.

Generate arts helps people to develop their interpretative and motor skills while offering a cultural connection to mainstream art and artists with museum and gallery visits and the opportunity to exhibit and sell work. Music classes, including our very popular drumming sessions, focuses on improving peoples’ ability to play an instrument and perform as part of a collective, to develop song writing skills and offer opportunities to record and perform their own musical compositions.

Health and Wellbeing Programme

Our Community Connections service makes a significant contribution to the health and well-being of people with a learning disability, enabling them to live independently without anxiety and encouraging healthy lifestyle choices, as well as introducing individuals to leisure and social activities in their local and wider community. We actively encourage individuals to book regular visits with health professionals and ensure that they have annual health checks with their GP. We provide healthy lifestyle activities, including nutrition advice and a physical activities programme.

Social Opportunities

Currently the Social Opportunities service supports adults with learning disabilities over the age of 18 with up to 40 hours of evenings and weekends group activities. The aim of the Social Opportunities programme is to provide individuals who would have otherwise been isolated to make and meet friends and participate in a range of leisure and social events held in evenings and weekends. Members meet for planning sessions so that they can decide what activities they take part in on a monthly basis. Although we have regular sessions, we are able to be flexible with which evenings and weekend days the activities run, so that the monthly programmes can be responsive to what is happening out in the community, both in Wandsworth as well as more broadly across London. Group sizes range from 5 members up to 25.

The Social Opportunities programme includes a Friendship Group. This is a group of adults who have developed personal and meaningful friendships and only require minimal support to enable them to meet up each week and plan activities. We also host a bi-monthly disco.

Inclusion and Engagement Project - £219,191 3-year funding from July 2022

The national Lottery have funded an Inclusion and Engagement Department that will employ people with a learning disability to deliver projects that give them a voice and platform; create more inclusive policy and practice; and show the rest of the world their talents and abilities.

The Department will support people with a learning disability to develop their skills and confidence to achieve these objectives. This will include training, coaching and practical actions to increase advocacy, campaigning and lobbying skills; embed project management skills; and build relationships with other people and organisations.

The programme will be co-led by Inclusion and Engagement Co-Managers, one of whom will have lived experience of a learning disability. The Department will bring a co-ordinated, strategic investment to our inclusion and engagement work. The Co-Managers will work closely with Freelance Co-developers – people with a learning disability who will co-develop resources, help to shape the overall programme and contribute to a steering group. The programme will also recruit a wider pool of people with a learning disability to work across a series of projects. Participants will be paid for their expertise where appropriate.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Youth Service

Short breaks services

Generate’s Youth Provision is funded by a three-year contract with Wandsworth Council running from June 2022 (with a 2 year extension option for the council) .

The service offers two weekly term time youth clubs, holiday activities, 1:1 buddy work and staff support and travel to a monthly disco. We provide support to young people with a learning disability and/or autism aged 11-17 for clubs, and 11-18 for holiday activities and 11-19 for 1:1 buddy work.

Youth club

Monday boys club and Wednesday girls club. A minibus was provided for those that require transport.

Buddy Service

A 1-1 provision to promote independent travel to and from Generate services.

Disco

Held monthly at the George Shearing youth centre in Battersea or at our Summerstown building.

Half term/Holiday activities

A varied program of fun age-appropriate supported activities that have the added benefit of respite for parents and carers.

Residential breaks

These are funded by a 10k per annum BBC Children in Need Grant and offer young people an opportunity to independently enjoy adventure style group holidays and activities.

Health Projects

Grant funded by the NHS integrated care board (ICB) to increase the uptake of annual health checks and screening programmes for people with a learning disability and to co-deliver learning disability awareness training to GP surgeries and other health settings in the Wandsworth Borough.

We continued to support www.easyhealth.org.uk to provide accessible health information to people with a learning disability and the people who support them. During the year 22/23 there were over 400,000 site visits. It continues to be nationally recognised as an example of good practice, referenced by many other organisations and very widely used by health professionals.

Access to Work

We provide an Access to Work service for disabled adults in employment settings. The Department of Work & Pensions provides in work support hours, job coaches, aids, adaptations, travel and equipment to people with disabilities, long term health conditions and mental ill health in the workplace through the Access to Work Scheme. Generate provides Employment Support Workers and Job Coaches to support people in areas of need within their work role. As of the 31st March 2023, Generate delivered services to 17 clients, totalling 1200 delivery hours per month.

Supported Internships

Generate provides job coaches to support students to gain employability skills in employment settings for Newham College, St Barts hospital, the Whitefield Trust and Hackney hospital.

Supported internships continue to represent a potential growth area for the charity and we will continue working partnership in the coming academic year when we anticipate taking on two new sites.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Generate Voices

Funded by City Bridge for three years (£117,500), this project employs two Coordinators to manage the project, one of whom has lived experience of a learning disability and autism. The project includes a weekly member’s forum that has provided members with the opportunity to discuss issues that are important to them. Topics haves included employment, the Covid-19 vaccine, clinical trials, hate crime, climate change, LGBTQ rights, and social housing. Guest speakers have included people from other national advocacy groups, NHS services, local authority commissioners, independent advocates, academics, and other professionals. Group members have discussed their experiences of facing different challenges whilst living with a learning disability or autism with other learning disabled or autistic people. These opportunities have had a huge impact on the confidence and self-esteem of the members. The forum has been actively engaged in supporting members to become trustees and it is hoped that by Summer 2023 Generate will have its first trustee with lived experience.

Additional achievements

We have continued to build the capacity of our management team and employed an Adult Service Manager (ASM) to develop our complex need support offer and to transform daytime opportunities and prepare a bid for a day service tender in the spring of 2023. (successful as of June 2023)

We are committed to recruiting and retaining a diverse and motivated workforce. Accordingly we pay great attention to our recruitment and hiring procedures so that we have the right levels of skills and capacity to deliver a high quality of service.

We are committed to training and developing our staff through ongoing formal and informal on-to-one sessions and training and support.

We are committed to working in partnership with local and national organisations and participate in forums with a focus on improving support and opportunities for people with a learning disability, such as the Clinical reference Group for people with a learning disability, the Provider Forum, The Learning Disability Partnership Board, the Wandsworth Health Action group and the SW London Transforming Care Partnership. We have also supported the local authority with their 5 year Joint Learning Disability Strategy and contribute to all priority group planning meetings.

Who used and benefitted from our services?

Our objects and funding limit the services we provide to people with a disability. Additionally, our location in London tends to limit our provision of services to people with a learning disability based in the London Boroughs of Wandsworth, Merton and Lambeth and other local authorities in close proximity to our offices. The exceptions to this are the service provided through www.easyhealth.org.uk which extends our reach nationwide/worldwide and In Work support delivered under the Access to Work scheme, which is pan- disability and delivered across London and up to the M25 and the supported Internship Programmes running in North East London

We are actively supporting in the region of 200 people with a disability through our various projects at any given point. We encourage open, equal access and the only stipulation is that people have a learning disability (or fit the criteria for the Access to Work scheme). Learning disability is a broad category but generally speaking Generate are able to work with people who have limited cognitive ability and other more recognised conditions leading to a learning disability.

We will continue to offer services for as long as people ask for our support and are often connected with people from their first presentation at a Youth club and throughout their adult life either intermittently or constantly. Whilst the main impact of our work is the positive outcomes we achieve for individuals with a disability we are confident that there are also benefits to the family and friends of our service users and to the wider community.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance

How our activities deliver public benefit:

Our main activities and who we try to help are described above. All our charitable activities focus on supporting people with a disability to live productive and meaningful lives connected to their communities and are undertaken to further our charitable purposes for the public benefit, having regard to the Charity Commission's guidance on this matter. In particular, we ensure that some of our services are offered at no cost to the individual.

Who used and benefitted from our services?

Our objects and funding limit the services we provide to people with a disability. Additionally, our location in London tends to limit our provision of services to people with a learning disability based in the London Boroughs of Wandsworth, Merton and Lambeth and other local authorities in close proximity to our offices. The exceptions to this are the service provided through www.easyhealth.org.uk which extends our reach nationwide/worldwide and In Work support delivered under the Access to Work scheme, which is pan-disability and delivered across London and up to the M25 and the supported Internship Programmes running in North East London.

We are actively supporting in the region of 200 people with a disability through our various projects at any given point. We encourage open, equal access and the only stipulation is that people have a learning disability (or fit the criteria for the Access to Work scheme). Learning disability is a broad category but generally speaking Generate are able to work with people who have limited cognitive ability and other more recognised conditions leading to a learning disability.

We will continue to offer services for as long as people ask for our support and are often connected with people from their first presentation at a Youth club and throughout their adult life either intermittently or constantly. Whilst the main impact of our work is the positive outcomes we achieve for individuals with a disability we are confident that there are also benefits to the family and friends of our service users and to the wider community.

Financial review

The Trustees can report that during another particularly difficult year in respect to the global pandemic, economic crisis and the national recruitment difficulties, that charity ended the financial year with an unrestricted deficit of £199,039.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Generate’s main issue lays within Community Connections where we have struggled to recruit and retain good support workers, leading to a drop in service delivery or loss of valuable support packages and therefore income. A number of factors prevail:

Direct costs have also increased:

Generate's Risk Based Reserves Policy has been based on its objectives with respect to risks on key income streams. Its main features are:

In order to meet the above criteria, the Trustees consider that Generate should hold free reserves that are within a range between six months total cost committed and 12 month potential risk to income.

Based on current operations, this would give a free reserves requirement of between £475,000 and £660,000.

The current level of free reserves is £173,469. Following a difficult year, this has reduced below our lower threshold requirement of £475,000, however the trustees are committed to replenishing our reserves through sustained growth and surpluses over the next 3 to 5 years.

The Reserves Policy will be monitored by the Trustees on an annual basis.

Our principal funding sources were individuals with Direct Payments who are funded to access our Community Connections service, largely by Wandsworth Council, service agreements with individual budget-holding beneficiaries and individuals funded by the Department for Work and Pensions who use our Access To Work service and Newham Supported Internship Programme. Our Youth Service successfully secured a contract extension to June 2023, providing finical security to the programme. In addition, in March we received confirmation of a further one year contract from Wandsworth Council to provide the Social Opportunities programme into the year 2023/2024.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Risk management

The Trustees have assessed the major risks that the charity faces, in particular to its operations and finances and are satisfied that the charity is taking the necessary actions to remain a going concern :

Plans for the future

Generate aims to continue to be a provider of high quality services and supports to people with a disability. It is our intention to build on our strengths and grow our Community Connections, Youth and Social Opportunities services both within and beyond in Wandsworth. It also our intention to increase our services to supported internship opportunities for young people with learning disability and autism. We are investing in training to better equip our staff to meet the needs with people with a learning disability/autism and more complex needs and behaviours that can be challenging so that we can accept the increasing number of referrals we are getting in regard to people with these needs. We will continue to strengthen our infrastructure, focusing on the effective promotion of our services and the work that we do and to put in place systems to evidence the quality of the support that we offer. We will seek additional fundraising income to develop provisions in accordance to unmet need in the areas of our charitable activity. We will continue to strengthen our governance arrangements, including member involvement in this aspect of the organisation.

Structure, governance and management

G Sylvester C Masterson S Couldridge S Coney (Resigned 15 June 2023) Ms J Hoyle (Resigned 21 February 2023) R Murphy (Appointed 26 July 2023) L Sebag-Montefiore (Appointed 9 November 2022) C Threadgold (Appointed 9 November 2022)

Trustees are recruited via local networks and contacts. Potential Trustees are invited to meet with the Chair and the COO and are invited to visit our premises and our projects and meet some of our staff and beneficiaries. They then attend a minimum of three board meetings after which they can be invited to become a Trustee if agreed by the Board. To support them in their role, all Trustees receive a Governance Publication and are informed about relevant training opportunities by the COO.

Management

The Board of Trustees meets 6 times a year. It is kept informed of developments, and has a clear agenda for governance and strategic planning. It has powers to decide matters of Company Policy. However, it delegates most operational decision making to the COO, who reports to the Board. There is also a Management Team, made up of one Operations Director, 3 Service Managers and an Office manager.

GENERATE OPPORTUNITIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The trustees’ report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime. Approved by the Trustees and signed on their behalf by:

.............................. .............................. G Sylvester C Threadgold Trustee Trustee Dated: ......................... Dated:.........................

GENERATE OPPORTUNITIES LTD

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees, who are also the directors of Generate Opportunities Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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.

GENERATE OPPORTUNITIES LTD

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GENERATE OPPORTUNITIES LTD

Opinion

We have audited the financial statements of Generate Opportunities Ltd (the ‘Charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

GENERATE OPPORTUNITIES LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GENERATE OPPORTUNITIES LTD

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

GENERATE OPPORTUNITIES LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GENERATE OPPORTUNITIES LTD

Risks

Based on our understanding of the charity and industry, we identified that the principle risks of non-compliance with laws and regulations related to compliance with health and safety regulations and safeguarding and child protection and we considered the extent to which non-compliance might have a material effect on the financial statements of the company.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charity Commission requirements.

In addition, we considered provisions of other laws and regulations that do not have a direct impact on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These include data protection and employment regulations.

We evaluated managements incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition, posting inappropriate journals entries to increase turnover or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements such as recoverability of customer debts, useful lives of tangible assets and valuation of investments held, therefore overall being the overstatement of assets.

Audit response

Audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, by for example, forgery, or intentional misrepresentation, or though collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

GENERATE OPPORTUNITIES LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GENERATE OPPORTUNITIES LTD

S Meah FCCA (Senior Statutory Auditor) for and on behalf of Crossley Financial Accounting Limited ......................... Chartered Accountants Statutory Auditor Star House Star Hill Rochester Kent ME1 1UX

Crossley Financial Accounting Limited is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

GENERATE OPPORTUNITIES LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
3
29,427
150,337
Charitable activities
4
1,362,702
-
Investments
5
102
-
Total income
1,392,231
150,337
Expenditure on:
Charitable activities
6
1,591,270
109,427
Net (expenditure)/income
for the year/
Net movement in funds
(199,039)
40,910
Fund balances at 1 April
2022
372,498
7,702
Fund balances at 31
March 2023
173,459
48,612		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
179,764
42,177
82,835
1,362,702
1,289,216
-
102
18
-
1,542,568
1,331,411
82,835
1,700,697
1,577,043
94,559
(158,129)
(245,632)
(11,724)
380,200
618,130
19,426
222,071
372,498
7,702		 Total
2022
£
125,012
1,289,216
18
1,414,246
1,671,602
(257,356)
637,556
380,200

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

GENERATE OPPORTUNITIES LTD

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

2023
Notes
£
Fixed assets
Tangible assets
11
Current assets
Debtors
12
316,519
Cash at bank and in hand
49,577
366,096
Creditors: amounts falling due within
one year
14
(154,548)
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
Income funds
Restricted funds
16
Unrestricted funds		 2022
£
£
15,488
322,709
236,041
558,750
(151,026)
211,548
227,036
(4,965)
222,071
48,612
173,459
222,071		 £
14,212
407,724
421,936
(41,736)
380,200
7,702
372,498
380,200

GENERATE OPPORTUNITIES LTD

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2023

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

.............................. .............................. G Sylvester C Threadgold Trustee Trustee

Company Registration No. 03461665

GENERATE OPPORTUNITIES LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash absorbed by operations
20
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Interest received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
(137,593)
(9,683)
620
102
(8,961)
(39,290)
(39,290)
(185,844)
236,041
49,577		 2022
£
£
(148,904)
(9,449)
-
18
(9,431)
(14,186)
(14,186)
(172,521)
408,561
236,041

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Generate Opportunities Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 73 Summerstown, Tooting, London, SW17 0BQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' Report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent , in which case it may be regarded as restricted.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements over the period of the lease Computers 20% straight line Office equipment 33% straight line

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
7,021
-
Grants
926
150,337
Other
21,480
-
29,427
150,337		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
7,021
1,117
-
151,263
29,239
82,835
21,480
11,821
-
179,764
42,177
82,835		 Total
2022
£
1,117
112,074
11,821
125,012

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Community
connections
2023
£
Income from charitable activities
562,209
Analysis by fund
Unrestricted funds
562,209
For the year ended 31 March 2022
Income from charitable activities
Analysis by fund
Unrestricted funds		 Youth
Social
opportunities
2023
2023
£
£
112,337
22,964
112,337
22,964
Community
connections
£
568,134
568,134		 Health
Access to
work
Inclusion and
engagement
2023
2023
2023
£
£
£
49,788
339,189
54,687
49,788
339,189
54,687
Youth
Social
opportunities
Health
£
£
£
93,800
22,398
50,148
93,800
22,398
50,148		 Supported
internship
2023
£
221,528
221,528
Access to
work
£
347,478
347,478		 Total
2023
£
1,362,702
1,362,702
Supported
internship
£
207,258
207,258		 Total
2022
£
1,289,216
1,289,216
Total
2022
£
1,289,216
1,289,216

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

5 Investments

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Bank interest receivable 102 18

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

Community
connections
2023
£
Staff costs
362,018
Depreciation and impairment
574
Miscellaneous expenses
61
Support staff costs
2,730
Events and groups
10,530
Music and arts lessons
32,914
Art costs
421
Ingredient costs
1,972
Sports and equipment
731
Excursions
483
Staff recruitment, training and
sundry
309
Premises costs
45
Travel and entertainment
23,466
Office costs
12,555
Professional fees
13,500
Bad debt provision
(7,732)
454,577		 Youth
Social
opportunities
2023
2023
£
£
82,732
42,423
-
-
-
-
-
-
8,108
2,561
-
-
74
32
1,807
922
131
-
5,471
148
299
-
-
-
6,666
458
3,929
704
-
-
-
-
109,217
47,248		 Health
Access to
work
Inclusion and
engagement
Supported
internship
2023
2023
2023
2023
£
£
£
£
32,560
273,287
34,249
236,427
165
-
-
623
-
-
-
-
-
183
-
-
-
-
-
-
-
-
-
-
660
-
-
-
78
-
-
-
16
-
-
-
-
-
-
-
299
2,985
-
1,539
-
-
-
-
106
-
20
400
5,606
701
412
4,542
50
50
-
-
-
3,440
-
2,279
39,540
280,646
34,681
245,810		 Total
2023
£
1,063,696
1,362
61
2,913
21,199
32,914
1,187
4,779
878
6,102
5,431
45
31,116
28,449
13,600
(2,013)
1,211,719		 Total
2022
£
1,072,504
1,293
43
1,028
17,168
14,270
1,727
4,210
957
4,375
39,548
29
23,094
24,838
1,067
21,559
1,227,710

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

Charitable activities
Share of support costs (see note 7)
Share of governance costs (see
note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 432,155
56,823
943,555
907,271
36,284
943,555		 -
-
109,217
94,844
14,373
109,217		 -
-
47,248
31,361
15,887
47,248		 -
-
39,540
39,540
-
39,540		 -
-
280,646
280,646
-
280,646		 -
-
34,681
34,681
-
34,681		 -
-
245,810
202,927
42,883
245,810		 (Continued)
432,155
405,952
56,823
37,940
1,700,697
1,671,602
1,591,270
1,577,043
109,427
94,559
1,700,697
1,671,602		 (Continued)
432,155
405,952
56,823
37,940
1,700,697
1,671,602
1,591,270
1,577,043
109,427
94,559
1,700,697
1,671,602
1,671,602
1,577,043
94,559
1,671,602

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

(Continued)

For the year ended 31 March 2022

Community
connections
£
Staff costs
469,890
Depreciation and impairment
533
Miscellaneous expenses
43
Support staff costs
781
Events and groups
11,226
Music and arts lessons
14,270
Art costs
1,656
Ingredient costs
2,139
Sports and equipment
957
Excursions
-
Staff recruitment, training and sundry
4,513
Premises costs
-
Travel and entertainment
17,947
Office costs
12,909
Professional fees
1,067
Bad debt provision
8,806
546,737		 Youth
Social
opportunities
£
£
84,105
28,184
-
-
-
-
-
-
2,682
2,987
-
-
-
51
608
1,456
-
-
4,375
-
220
-
-
-
4,592
-
2,982
585
-
-
401
134
99,965
33,397		 Health
Access to
work
Supported
internship
£
£
£
37,785
274,241
178,299
137
-
623
-
-
-
-
247
-
273
-
-
-
-
-
-
20
-
-
7
-
-
-
-
-
-
-
-
9,624
25,191
-
-
29
-
70
485
3,413
842
4,107
-
-
-
80
11,710
428
41,688
296,761
209,162		 Total
2022
£
1,072,504
1,293
43
1,028
17,168
14,270
1,727
4,210
957
4,375
39,548
29
23,094
24,838
1,067
21,559
1,227,710

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

Charitable activities
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 405,952
37,940
990,629
896,070
94,559
990,629		 -
-
99,965
99,965
-
99,965		 -
-
33,397
33,397
-
33,397		 -
-
41,688
41,688
-
41,688		 -
-
296,761
296,761
-
296,761		 (Continued)
-
405,952
-
37,940
209,162
1,671,602
209,162
1,577,043
-
94,559
209,162
1,671,602		 (Continued)
-
405,952
-
37,940
209,162
1,671,602
209,162
1,577,043
-
94,559
209,162
1,671,602
1,671,602
1,577,043
94,559
1,671,602

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Support costs

Staff costs
Depreciation
Miscellaneous expenses
Events and groups
Staff recruitment, training
and sundry
Premises costs
Travel and entertainment
Office costs
Professional fees
PR and events
Audit fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
134,455
48,994
7,045
-
6,929
-
986
-
57,573
-
73,962
-
579
-
74,179
-
74,159
-
2,288
-
-
7,829
432,155
56,823
432,155
56,823		 2023
£
183,449
7,045
6,929
986
57,573
73,962
579
74,179
74,159
2,288
7,829
488,978
488,978		 Support
costs
Governance
costs
£
£
124,756
31,326
4,241
-
8,773
-
423
-
53,400
-
69,024
-
660
-
65,778
-
78,581
-
316
-
-
6,614
405,952
37,940
405,952
37,940		 2022
£
156,082
4,241
8,773
423
53,400
69,024
660
65,778
78,581
316
6,614
443,892
443,892

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Employees

Number of employees

The average monthly number of employees during the year was:

Direct project staff
Support staff
Employment costs
Wages and salaries
Social security costs		 2023
Number
56
5
61
2023
£
1,156,772
90,373
1,247,145		 2022
Number
58
6
64
2022
£
1,146,055
82,531
1,228,586

There were no employees whose annual remuneration was £60,000 or more.

Key Management Personnel

Key management personnel during the year comprised; Chief Executive Officer, Chief Operating Officer, Head of Operations and Key Service Managers. The total employee benefits of the key management personnel of the charity were £157,287.96 (2022 - £182,594).

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

11
Tangible fixed assets
Leasehold
improvements
Computers
Office
equipment
£
£
£
Cost
At 1 April 2022
44,977
42,054
30,307
Additions
-
8,868
815
Disposals
-
(24,337)
(12,321)
At 31 March 2023
44,977
26,585
18,801
Depreciation and impairment
At 1 April 2022
41,966
33,181
27,979
Depreciation charged in the year
330
6,366
1,091
Eliminated in respect of disposals
-
(23,717)
(12,321)
At 31 March 2023
42,296
15,830
16,749
Carrying amount
At 31 March 2023
2,681
10,755
2,052
At 31 March 2022
3,011
8,873
2,328
12
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
126,785
Other debtors
11,577
Prepayments and accrued income
178,157
316,519
13
Loans and overdrafts
2023
£
Bank loans
66,524
Payable within one year
61,559
Payable after one year
4,965		 Total
£
117,338
9,683
(36,658)
90,363
103,126
7,787
(36,038)
74,875
15,488
14,212
2022
£
96,880
19,527
206,302
322,709
2022
£
105,814
64,078
41,736

A general debenture dated 3 June 2020 is held by Barclays Security Trustee Limited. The debenture is a fixed and floating charge over the property and assets.

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14
Creditors: amounts falling due within one year
Bank loans
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
15
Creditors: amounts falling due after more than one year
Bank loans		 2023
£
61,559
20,201
17,598
5,830
49,360
154,548
2023
£
4,965		 2022
£
64,078
19,174
27,455
14,693
25,626
151,026
2022
£
41,736

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 April 2021 resources expended 1 April 2022 resources expended 31 March 2023
£ £ £ £ £ £ £
Children in
Need 6,476 10,110 (8,884) 7,702 10,800 (14,373) 4,129
City Bridge 12,950 72,725 (85,675) - 39,500 (36,284) 3,216
NLCF
(Heritage
Fund) - - - - 9,900 - 9,900
Wandsworth
Platinum
Jubilee Grant - - - - 500 (500) -
Community
Fund Grant
(National
Lottery) - - - - 9,950 (5,804) 4,146
Wandsworth
Social
Opportunities - - - - 15,000 (6,250) 8,750
The Baily
Thomas
Charitable
Fund - - - - 10,000 (3,333) 6,667
NLCF (I&E
Grant) - - - - 54,687 (42,883) 11,804
19,426 82,835 (94,559) 7,702 150,337 (109,427) 48,612

Children in Need

This grant is for three excursions for young people with disabilities.

City Bridge

This grant is for the continuing costs of the project Generate Voices.

NLCF (Heritage fund )

This grant is to put towards the 50[th] anniversary party for Generate.

Wandsworth Platinum Jubilee Micro Grant (Social Ops)

This grant is for celebrating the jubilee with adults with learning disabilities.

Community Fund Grant - National Lottery (Social Ops)

This grant is for supporting adults with learning disabilities who are involved in volunteering.

Wandsworth CVS (Social Ops)

This grant is for ongoing projects costs for Cost of Living Project.

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Restricted funds

(Continued)

The Baily Thomas Charitable Fund (Social Ops)

This grant is a one-off grant towards Social Opportunities: staffing and activity costs.

NLCF (I&E Grant)

This grant is for continuing project costs supporting adults with learning disabilities.

17 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
15,488
-
Current assets/(liabilities)
162,936
48,612
Long term liabilities
(4,965)
-
173,459
48,612		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
15,488
14,212
-
211,548
400,022
7,702
(4,965)
(41,736)
-
222,071
372,498
7,702		 Total
2022
£
14,212
407,724
(41,736)
380,200

18 Contingent assets

In respect of the grants receivable, additional funding will be paid to Generate Opportunities Ltd with respects to the following grants; Community Fund Grant & City of London Grant. It is probable the Charity will receive a further £224,281 in grants over the course of the next 2 years.

19 Operating lease commitments

At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
36,000
108,000
144,000		 2022
£
36,000
144,000
180,000

GENERATE OPPORTUNITIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

20 Cash generated from operations 2023 2022
£ £
Deficit for the year (158,129) (257,356)
Adjustments for:
Investment income recognised in statement of financial activities (102) (18)
Depreciation and impairment of tangible fixed assets 8,407 5,534
Movements in working capital:
Decrease in debtors 6,190 125,272
Increase/(decrease) in creditors 6,041 (22,336)
Cash absorbed by operations (137,593) (148,904)