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2023-08-31-accounts

Charity Registration No. 1072645

Company Registration No. 03578938 (England and Wales)

NEW COMMUNITY NETWORK

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

NEW COMMUNITY NETWORK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr C N D Romilly
Mr A Sheen
Mrs K Swift
Mr J Cathie
Mr J Sargent (Appointed 23 March 2023)
Ms S E Chart (Appointed 23 March 2023)
Charity number 1072645
Company number 03578938
Principal address Central Hall
St Mary Street
Southampton
Hants
SO14 1NF
Registered office Central Hall
St Mary Street
Southampton
Hants
SO14 1NF
Auditor Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Bankers Barclays Bank PLC
Hatton Garden Business Centre
99 Hatton Garden
London
EC1N 8DN
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors Blake Morgan
New Kings Court
Tollgate
Chandler's Ford
Eastleigh
Hampshire
SO53 3LG

NEW COMMUNITY NETWORK

CONTENTS

Page
Trustees' report 1-4
Statement of trustees' responsibilities 5
Independent auditor's report 6-8
Consolidated statement of financial activities 9-10
Charity statement of financial activities 11-12
Consolidated and charity statement of financial position 13
Consolidated statement of cash flows 14
Notes to the financial statements 15-31

NEW COMMUNITY NETWORK

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

The trustees present their annual report and financial statements for the year ended 31 August 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

The objectives of the charity are:

The Trustees have considered and have had due regard to the Commission’s guidance on public benefit and, in particular, the specific guidance on activities for the advancement of religion.

The Trustees are satisfied that the objectives of the Charity have been met, and that appropriate procedures and controls are in place to ensure continued operation.

Grant making policy

The charity is not primarily a grant making charity and does not solicit applications from organisations or individuals. We will from time to time make grants from our own funds or specifically raise funds for projects undertaken by other organisations. This would normally be in a geographical location and for a purpose we cannot undertake ourselves e.g. international crisis relief.

We will also make small grants to individuals with whom we have personal contact to enable them to achieve one of our charitable objectives. All grants are monitored to ensure they are used for the purpose that they are given.

Grants made during the year amounted to £128,401 (2022: £125,277) and were made up of £35,862 of grants to individuals (2022: £22,686) and £92,539 of grants to institutions (2022: £102,591). An analysis of institutional grants made above £10,000 is provided in note 9 in the accounts.

Achievements and performance

Advance the Christian faith

New Community Church’s expressions of church at both Central Hall and in the Sholing area of Southampton continued to meet throughout 2022/23. In April the Sholing congregation moved to a new location in St Monica’s Road, Sholing.

These congregations have continued to be supported by a wide variety of small group activities throughout the week including Alpha courses for those exploring faith, group activities for young people, Zoom prayer meetings and learning opportunities for those who want to study in more depth.

School of Ministries is our teaching and training programme which develops and trains leaders in Christian ministry, working mainly in developing countries where leaders would be unable to attend traditional training establishments. We have now successfully translated the training modules into French, have begun to translate some in to Spanish and have been able to video record [in English] all modules for use overseas. This has resulted in a multiplication of schools, especially in a number of African nations.

Advance Education

We continue to partner with New Generation Schools Trust to deliver primary education through Hope Community School. The school are currently tenants of Central Hall as a temporary site whilst permanent facilities are being built nearby. This year the new site was secured and plans are underway to design, plan and build with an opening date of September 2025.

NEW COMMUNITY NETWORK

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

This year we increased from 185 to 210 children. As a church we have an agreement to provide governance, chaplaincy, volunteers and wrap-around services.

Promote Creative Arts

We have provided a supportive environment for artists, singers, and musicians. Local orchestras, bands, and choirs regularly use Central Hall as a performance venue. These are booked through our trading subsidiary, New Community Ventures, which has seen a growing momentum of bookings through 2022/23.

Relief of the poor and those in need, hardship or distress

Our ‘Community Hub’ at Central Hall which provides an umbrella for the various caring initiatives that we operate has continued to function throughout the year. We have been able host a variety of groups - Bake Club, Creative English classes, and Warm Space. The Community Cafe was open every Sunday afternoon to provide hot food and drinks for up to 100 guests.

Through the work of our Hope Community School chaplain, we have supported children and families from the local area with targeted educational and practical support. The Baby Branch has continued to operate, providing baby clothes and equipment to parents in need. We have also been able to provide local community members with food through a weekly Fare Share operation.

We have continued to support the work of the Umoja group in Kibera, Kenya. We have been able to sponsor individual children, orphanages and other relief projects in Kenya and India.

Our Central Counselling and Training Service [CCTS] continued to provide counselling services, receiving consistently positive feedback.

Financial review

The principal funding sources for the Charity are voluntary donations and income from hire of facilities. These funds are used to operate a number of church congregations and projects with a Christian ethos.

Voluntary giving increased to £583,443 (2022 - £565,439). Unrestricted voluntary income, which includes donations and related tax recovered, was £493,427 (2022 - £476,987) and restricted voluntary income £90,016 (2022 - £88,452).

The Consolidated Statement of Financial Activities reports an overall surplus of £62,605 (2022 - deficit £113,455) for the year. However, this includes a depreciation charge, which is a non-cash item, of £48,560 (2022 - £52,885).

Capital expenditure in the year was £4,660 (2022: £6,415).

The balance outstanding on our bank loan as at the end of the financial year was £262,261 (2022: £542,169).

New Community Ventures Ltd (NCV) made a profit of £12 (2022: £2,385) after distributions to New Community Network.

Total funds held as at 31 August 2023 were £1,283,697 (2022: £1,221,092), of which £222,585 (2022: £279,987) were restricted, and £1,061,112 (2022: £941,105) were unrestricted.

Reserves policy

The board of trustees has examined the charity’s requirements for reserves in the light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be kept to the lowest possible figure, recognising the intent and purpose of those who donate funds to the charity. However, we also recognise the need to make provision for working capital to cover the regular fluctuations in income and expenditure and accordingly our policy is to maintain free reserves at three months-worth of operating costs. At this level, the board of trustees feel that they would be able to continue the current activities of the charity for a sufficient period in the event of a significant change in funding patterns to consider how the funding would be replaced or activities changed.

The group free reserves (defined as the unrestricted net current assets of the group) at 31 August 2023 were £152,567 (2022: £275,995).

NEW COMMUNITY NETWORK

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

Investment policy

The board of trustees has considered the most appropriate policy for investing the charity’s short-term funds and has found that interest bearing current accounts and deposit accounts, designed for the charity sector, meet their requirements to generate a reasonable return with security of capital and ease of access as projects develop. The board of trustees considers the return on investments to be adequate. The charity has no long-term cash investments.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

We have benefited significantly from the use of Central Hall by Hope Community School over the past 6 years. The school has now purchased a site on which to build a new school facility. This will mean that the current licence agreement will come to an end in September 2025.

We are now exploring a number of options for the future use of Central Hall recognising the impact that the loss of rental income from the school will have on the organisation.

The Trustees have commissioned a report to explore the following options:

  1. Sell the building and purchase/lease/build a new facility.

  2. Refocus our efforts to make the building an events venue with income to cover the anticipated shortfall.

  3. Look at a more creative remodelling of the building with mixed use that will create an income.

Structure, governance and management

Governing document

New Community Network is a charitable company limited by guarantee, incorporated on 10 June 1998 as The Cornerstone Network and registered as a charity on 30 November 1998. The name was changed to New Community Network at an Extraordinary General Meeting held on 19 September 2005.

The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association which was amended by special resolution on 29 March 2022.

New Community Ventures Limited

New Community Ventures Limited is a private company limited by shares, incorporated on 27 January 2017. New Community Network owns the entire share capital.

Recruitment and appointment of board of trustees

Trustees are normally, but not exclusively, recruited from the members of the charity who are all fully supportive of our aims and practically involved in the work of the charity. We aim to keep a balance of skills and backgrounds to facilitate the efficient functioning of the group. A comprehensive package of training utilising Charity Commission publications and other materials is provided to ensure that trustees are aware of their responsibilities and the hallmarks of good governance. Under the requirements of the Memorandum and Articles of Association one third of the members of the board of trustees must retire each year at the AGM.

Organisational structure and decision making processes

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr W R Kennedy (Resigned 23 March 2023) Mr C N D Romilly Mr A Sheen Mrs K Swift Mr J Cathie Mr J Sargent (Appointed 23 March 2023) Ms S E Chart (Appointed 23 March 2023)

NEW COMMUNITY NETWORK

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

Membership – The Charity Members form a panel of reference for the full time staff and volunteers. They meet formally at the Annual General Meeting and appoint the trustees.

Board of Trustees – The Trustees meet once per quarter to review progress against activities planned and set budgets for the year. Individual trustees work closely with staff to ensure best practice is applied and good governance is maintained.

Leadership Team – The Leadership Team meet weekly to oversee the day to day running of the organisation, assess the effectiveness of the various teams and manage the budget.

The pay and remuneration of the Charity’s key management personnel are set by benchmarking against equivalent roles in similar organisations in the charity sector. They are reviewed annually and are subject to individual and company performance.

Risk management

The Board of Trustees has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects, and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Auditor

In accordance with the company's articles, a resolution proposing that Caladine Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

.............................. Mr C N D Romilly CVG Trustee 08/02/2024 Dated: .........................

NEW COMMUNITY NETWORK

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2023

The trustees, who are also the directors of New Community Network 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.

NEW COMMUNITY NETWORK

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW COMMUNITY NETWORK

Opinion

We have audited the financial statements of New Community Network (the 'parent charitable company') and its subsidiary together (the 'group') for the year ended 31 August 2023 which comprise the group and parent charitable company statement of financial activities, the group and parent charitable company statements of financial position, the consolidated statement of cash flows and the notes to the financial statements, including a summary of 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).

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 group and parent charitable company 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, except to the extent otherwise explicitly stated in our report, 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

NEW COMMUNITY NETWORK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW COMMUNITY NETWORK

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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 group's and parent charitable company'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 group or parent 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

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.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

NEW COMMUNITY NETWORK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF NEW COMMUNITY NETWORK

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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.

Mr Colin James Dadswell FCCA (Senior Statutory Auditor) for and on behalf of Caladine Limited

12 April 2024 .........................

Chartered Certified Accountants Statutory Auditor

Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

NEW COMMUNITY NETWORK

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2023

Notes
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Expenditure on:
Raising funds
7
Charitable activities
8
Other
11
Total resources expended
158,862
Net incoming resources
before transfers
Gross transfers between funds
20
Fund balances at 1 September 2022
Fund balances at 31 August 2023
589,122
Restricted
Income and endowments from:
43,271
-
493,427
90,016
1,209
-
Unrestricted
£
£
funds
funds
-
514,013
158,862
Total income
1,127,029
90,016
481,483
-
Net income/(expenditure) for the
year/Net movement in funds
120,007
(57,402)
941,105
279,987
1,061,112
222,585
11,444
82
-
131,451
995,578
(68,846)
(11,444)		 589,122
Total
43,271
45,161
583,443
565,439
Total
1,209
92
£
£
2023
2022
379,448
692,700
1,217,045
990,140
672,875
481,483
410,895
62,605
(113,455)
1,221,092
1,334,547
1,283,697
1,221,092
-
-
82
-
1,154,440
1,103,595
62,605
(113,455)

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.

NEW COMMUNITY NETWORK

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted Restricted Total
funds funds 2022
Notes £ £ £
Income and endowments from:
Donations and legacies 3 476,987 88,452 565,439
Charitable activities 4 45,161 - 45,161
Other trading activities 5 379,448 - 379,448
Investments 6 92 - 92
Total income 901,688 88,452 990,140
Expenditure on:
Raising funds 7 410,895 - 410,895
Charitable activities 8 483,535 209,165 692,700
Total resources expended 894,430 209,165 1,103,595
Net incoming resources
before transfers 7,258 (120,713) (113,455)
Gross transfers between funds 20 (10,222) 10,222 -
Net income/(expenditure) for the
year/Net movement in funds (2,964) (110,491) (113,455)
Fund balances at 1 September 2021 944,069 390,478 1,334,547
Fund balances at 31 August 2022 941,105 279,987 1,221,092

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.

NEW COMMUNITY NETWORK

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2023

Donations and legacies
Charitable activities
Other trading activities
Investments
Expenditure on:
Raising funds
Charitable activities
Other
Total resources expended
601,229
158,862
Net incoming resources
before transfers
Gross transfers between funds
Fund balances at 1 September 2022
Fund balances at 31 August 2023
599,365
158,862
1,782
-
1,209 -
935,084
279,987
1,055,079
222,585
Net movement in funds
119,995
(57,402)
Net income for the year/
82
-
11,444

(68,846)
(11,444)
131,439
Income and endowments from:
1,200 -
686,988
90,016
43,271 -
Total income
732,668
90,016
£
£
Restricted
Unrestricted
funds
funds		 758,227
761,455
80
11,993
1,782
6,821
1,209
652,436
822,684
1,215,071
1,330,911
1,277,664
1,215,071
62,593
(115,840)
82
-
760,091
768,276
-
-
62,593
(115,840)
£
£
43,271
1,200
777,004
45,161
595,202
Total
Total
2023
2022

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.

NEW COMMUNITY NETWORK

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted Restricted Total
funds funds 2022
£ £ £
Income and endowments from:
Donations and legacies 506,750 88,452 595,202
Charitable activities 45,161 - 45,161
Other trading activities 11,993 - 11,993
Investments 80 - 80
Total income 563,984 88,452 652,436
Expenditure on:
Raising funds 6,821 - 6,821
Charitable activities 552,290 209,165 761,455
Total resources expended 559,111 209,165 768,276
Net incoming resources
before transfers 4,873 (120,713) (115,840)
Gross transfers between funds (10,222) 10,222 -
Net income for the year/
Net movement in funds (5,349) (110,491) (115,840)
Fund balances at 1 September 2021 940,433 390,478 1,330,911
Fund balances at 31 August 2022 935,084 279,987 1,215,071

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.

NEW COMMUNITY NETWORK

STATEMENTS OF FINANCIAL POSITION

AS AT 31 AUGUST 2023

Group Group Charity Charity
2023 2022 2023 2022
Notes £ £ £ £
Fixed assets
Property, plant and equipment 13 1,138,200 1,182,182 1,133,015 1,176,159
Investments 14 - - 1,000 1,000
1,138,200 1,182,182 1,134,015 1,177,159
Current assets
Inventories 1,008 1,126
-		 - -
Trade and other receivables 15 60,188 52,146 46,939
40,023		 40,023
Cash at bank and in hand 436,771 611,191 394,697 570,930
497,967 664,463 441,636 610,953
Current liabilities 16 (122,815) (108,481) (68,332) (55,969)
Net current assets 375,152 555,982 373,304 554,984
Total assets less current liabilities 1,513,352 1,738,164 1,507,319 1,732,143
Non-current liabilities 17 (229,655) (517,072) (229,655) (517,072)
Net assets 1,283,697 1,221,092 1,277,664 1,215,071
Income funds
Restricted funds 20 222,585 279,987 222,585 279,987
Unrestricted funds 1,061,112 941,105 1,055,079 935,084
1,283,697 1,221,092 1,277,664 1,215,071

08/02/2024

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

C04 Mr C N D Romilly Trustee

Company Registration No. 03578938

NEW COMMUNITY NETWORK

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2023

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of property, plant and equipment
Proceeds on disposal of property, plant and equipment
Income from investments
Net cash used in investing activities
Financing activities
Repayment of other borrowings
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 £
£
£
£
108,939
(34,826)
(6,415)
-
-
1,209
92
(6,323)
-
-
(279,908)
(29,416)
(279,908)
(29,416)
(174,420)
(70,565)
611,191
681,756
436,771
611,191
2023
2022
(4,660)
(3,451)

NEW COMMUNITY NETWORK

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

1 Accounting policies

Company information

New Community Network is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Central Hall, St Mary Street, Southampton, Hants, SO14 1NF.

1.1 Accounting convention

The accounts have been prepared in accordance 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)” (as amended for accounting periods commencing from 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.

The group financial statements include the accounts of New Community Network (the charity) and its subsidiary New Community Ventures Limited.

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 unless the funds have been designated for other purposes.

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.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Other trading income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

NEW COMMUNITY NETWORK

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

1 Accounting policies (Continued)

1.5 Expenditure

Liabilities are recognised when a constructive obligation exists, the payment is probable and the obligation can be measured or estimated reliably.

Resources expended are allocated to the particular cost centre to which they relate and include irrecoverable VAT.

Grants payable are charged in the year in which the offer is conveyed to the recipient except in those cases where the offer is conditional.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost , 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 basis:

Freehold land and buildings 50 years straight line Plant and equipment 5 - 10 years straight line Fixtures and fittings 5 - 10 years straight line Computers 3 years straight line

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 net income/(expenditure) for the year.

Items of equipment are capitalised where the purchase price exceeds £1,000.

1.7 Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.9 Inventories

Inventories are stated at lower of cost and estimated selling price less costs to sell.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NEW COMMUNITY NETWORK

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

1 Accounting policies (Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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

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 trade and other receivables 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 trade and other payables 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

NEW COMMUNITY NETWORK

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

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.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
493,427
90,016
Donations and gifts
£
£
Donations and gifts 2023
Donations and gifts
Gift aid
409,017
78,408
84,410
11,608
493,427
90,016
Donations and gifts 2022
Donations and gifts
391,998
80,167
Gift aid
84,620
8,285
Government furlough grant
369
-
476,987
88,452		 Total
2023
583,443
£
583,443
487,425
96,018		 Total
2022
£
565,439
472,165
92,905
369
565,439

NEW COMMUNITY NETWORK

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

4 Charitable activities 2023

4 Charitable activities 2023
Unrestricted Restricted
funds funds Total 2023 Total 2022
£ £ £ £
Fee income 43,271 - 43,271 41,078
Training fees - - - 4,083
43,271 - 43,271 45,161
Charitable activities 2022
Unrestricted Restricted
funds funds Total 2022
£ £ £
Fee income 41,078 - 41,078
Training fees 4,083 - 4,083
45,161 - 45,161
5 Other trading activities 2023
Unrestricted Restricted
funds funds Total 2023 Total 2022
£ £ £ £
Rental and hire charges 589,122 - 589,122 368,655
Trading activities - - - 10,793
589,122 - 589,122 379,448
Other trading activities 2022
Unrestricted Restricted
funds funds Total 2022
£ £ £
Rental and hire charges 368,655 - 368,655
Trading activities 10,793 - 10,793
379,448 - 379,448

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

6 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 1,209 92
Raising funds 2023
Unrestricted Restricted
funds funds Total 2023 Total 2022
£ £ £ £
Trading costs
Staff costs 158,073 - 158,073 130,933
Cost of trading subsidiaries 37,369 - 37,369 17,840
Building costs 78,478 - 78,478 92,181
Communications 2,973 - 2,973 6,216
Finance costs 878 - 878 730
Resource costs 99,502 - 99,502 79,494
Depreciation 2,910 - 2,910 1,936
Support costs (see note 10) 101,300 - 101,300 81,565
481,483 - 481,483 410,895
Raising funds 2022
Unrestricted Restricted
funds funds Total 2022
£ £ £
Trading costs
Staff costs 130,933 - 130,933
Cost of trading subsidiaries 17,840 - 17,840
Building costs 92,181 - 92,181
Communications 6,216 - 6,216
Finance costs 730 - 730
Resource costs 79,494 - 79,494
Depreciation 1,936 - 1,936
Support costs (see note 10) 81,565 - 81,565
410,895 - 410,895

7 Raising funds 2023

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

8 Charitable activities

Staff costs
Counselling, events, courses and community work
Analysis by fund
Unrestricted funds
Restricted funds
9
Grants payable
Grants to institutions:
Umoja
Jeevan Asha
Pioneer Trust
Missionary Maintenance Services
Other grants below £10,000
Grants to individuals
Share of support costs (see note 10)
Share of governance costs (see note 10)
Grant funding of activities (see note 9)		 £
514,013
158,862
2023
£
11,848
20,800
17,471
12,000
30,420
35,862
128,401
128,401
162,558
23,368
92,539
672,875
2023
104,756
253,792
358,548
672,875		 £
2022
86,154
289,656
180,442
11,171
375,810
125,277
692,700
483,535
209,165
692,700
2022
£
19,783
8,000
17,608
11,000
46,200
22,686
102,591
125,277

NEW COMMUNITY NETWORK

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

10 Support costs 2023

Staff costs
Depreciation
Counselling, events, courses and community work
Finance costs
Insurance costs
Resource costs
Other costs
Audit fees
Accountancy
Legal and professional
Analysed between
Raising funds
Charitable activities
Support costs 2022
Staff costs
Depreciation
Counselling, events, courses and community work
Finance costs
Insurance costs
Resource costs
Other costs
Audit fees
Accountancy
Legal and professional
Analysed between
Raising funds
Charitable activities		 £
£
£
£
-
45,650
-
45,650
22,262
-
22,262
25,453
-
25,453
11,373
-
11,373
-
12,727
-
12,727
-
4,890
4,890
-
5,940
5,940
-
12,538
12,538
-
£
£
£
-
-
-
-
-
-
-
4,680
5,680
811
-
5,680
811
19,948
13,116
8,906
4,680
8,906
4,680
5,680
811
50,949
16,047
19,948
13,116
8,906
-
-
-
273,178
262,007
11,171
273,178
180,442
11,171
191,613
81,565
81,565
262,007
11,171
26,973
126,068
Support
costs
Total 2023
50,949
16,047
19,948
13,116
Total 2022
Governance
costs
126,068
162,558
23,368
185,926
263,858
23,368
287,226
18,625
18,625
26,973
50,949
16,047
26,973
101,300
127,768
127,768
126,068
263,858
23,368
287,226
273,178
101,300
Support
costs
Governance
costs
Total 2022		 £
£
£
£
-
45,650
-
45,650
22,262
-
22,262
25,453
-
25,453
11,373
-
11,373
-
12,727
-
12,727
-
4,890
4,890
-
5,940
5,940
-
12,538
12,538
-
£
£
£
-
-
-
-
-
-
-
4,680
5,680
811
-
5,680
811
19,948
13,116
8,906
4,680
8,906
4,680
5,680
811
50,949
16,047
19,948
13,116
8,906
-
-
-
273,178
262,007
11,171
273,178
180,442
11,171
191,613
81,565
81,565
262,007
11,171
26,973
126,068
Support
costs
Total 2023
50,949
16,047
19,948
13,116
Total 2022
Governance
costs
126,068
162,558
23,368
185,926
263,858
23,368
287,226
18,625
18,625
26,973
50,949
16,047
26,973
101,300
127,768
127,768
126,068
263,858
23,368
287,226
273,178
101,300
Support
costs
Governance
costs
Total 2022
273,178
191,613
81,565
273,178

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

11 Other

11
Other
Net loss on disposal of tangible fixed assets
12
Employees
Number of employees
The average monthly number of employees during the year was:
Employment costs
Wages and salaries
Social security costs
Other pension and life insurance costs		 2023
£
82
27
27
2023
£
27,529
14,330
2023
Number
497,774
539,633		 2022
£
-
29
2022
Number
29
2022
£
503,456
28,140
15,061
546,657

No employee earned more than £60,000 during the year (2022: none).

13 Property, plant and equipment

Cost
At 1 September 2022
Additions
Disposals
At 31 August 2023
Depreciation and impairment
At 1 September 2022
Depreciation
Eliminated in respect of disposals
At 31 August 2023
Carrying amount
At 31 August 2023
At 31 August 2022		 £
£
£
£
£
-
2,008
580
-
-
-
(670)
(670)
41,163
2,465
1,924
3,008
48,560
-
-
-
(588)
(588)
6,614
6,492
Freehold
land and
buildings
Plant and
equipment
Fixtures and
fittings
Computers
Total
2,058,159
159,311
79,909
18,776
2,316,155
2,072
4,660
2,058,159
161,319
81,981
18,686
2,320,145
892,242
152,697
76,750
12,284
1,133,973
933,405
155,162
78,674
14,704
1,181,945
1,165,917
3,159
1,182,182
1,124,754
6,157
3,307
3,982
1,138,200

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

14 Fixed asset investments - see note 23

Investments in subsidiaries
Cost
At 1 September 2022 & 31 August 2023
Carrying amount
At 31 August 2023
At 31 August 2022		 £
-
-
-
Group		 £
1,000
Charity
1,000
1,000

15 Trade and other receivables

Amounts falling due within one year:
Amounts owed by subsidiary undertakings
Trade receivables
Other receivables
Prepayments and accrued income		 £
£
-
-
29,900
30,976
8,268
6,023
22,020
15,147
Group
60,188
52,146
2023
2022		 £
£
435
2,461
8,268
6,023
-
6,884
Charity
46,939
40,023
24,655
38,236
2023
2022

16 Current liabilities

Notes
Bank loans
18
Other taxation and social security
Deferred income
Trade payables
Other creditors
Accruals and deferred income		 £
£
32,606
21,404
31,118
22,205
964
14,518
Group
14,328
40,552
13,616
2023
2022
122,815
108,481
3,610
11,278
25,097		 £
£
32,606
25,097
15,097
10,404
-
-
9,690
7,498
-
3,610
9,360
Charity
2023
2022
68,332
10,939
55,969

17 Non-current liabilities

Non-current liabilities
Group Charity
2023 2022 2023 2022
Notes £ £ £ £
Bank loans 18 229,655 517,072 229,655 517,072

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

18 Borrowings

Borrowings
Bank loans
Payable within one year
Payable after one year
Amounts included above which falls after five years:
Payable by instalments		 £
£
32,606
25,097
Group
2023
2022
262,261
542,169
229,655
517,072
69,951
413,708
262,261
542,169		 £
£
32,606
25,097
Charity
2023
2022
262,261
542,169
229,655
517,072
69,951
413,708
262,261
542,169
25,097
517,072
542,169
413,708

The mortgage is secured on the property at Central Hall, St Mary Street, Southampton, SO14 1NF.

19 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £14,330 (2022- £15,061).

NEW COMMUNITY NETWORK

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

20 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
Balance at 1
September Incoming Resources Balance at 31
2022 resources expended Transfers August 2023
£ £ £ £ £
Relief International:
Jeevan Asha 21,354 9,422 (16,065) - 14,711
Kibera development 6,266 11,695 (22,413) 6,000 1,548
Missionary maintenance
services 10,240 11,973 (12,097) - 10,116
School of ministry 6,219 24,260 (32,349) 5,004 3,134
Relief local:
Central hall fund 2,216 281 (1,196) - 1,301
Hardship fund 299 2,738 (1,485) - 1,552
Rest and recoup fund 202,350 - (34,847) (8,000) 159,503
SO14 Mission fund 29,858 - (13,180) - 16,678
Special Guardians 357 - - - 357
Heat & Eat Respose fund - 9,483 (4,076) - 5,407
Cuban Family Support - 14,531 (16,252) 8,000 6,279
Minor restricted funds 828 5,633 (4,902) 440 1,999
279,987 90,016 (158,862) 11,444 222,585

Relief International

Jeevan Asha - Indian orphanage.

Kibera Development - Funding a school build and missionary work in Kibera. Missionary Maintenance Services - Support for D & D Coates USA. School of Ministry - Leadership development.

Relief local

Central Hall fund - To fund ongoing renovation works to Central Hall. Hardship fund - Local relief work.

Rest and recoup fund - To provide a place for rest, recovery and convalescence. SO14 Mission fund- To fund mission in Central Southampton.

Special Guardians - Support grandparents who are primarily carers for their grandchildren. Heat & Eat Response fund - supporting individuals affected by the cost of living crisis.

Transfers represent the reallocation of income and expenditure between funds.

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

20 Restricted funds 2022

Movement in funds Movement in funds
Balance at 1
September Incoming Resources Balance at 31
2021 resources expended Transfers August 2022
£ £ £ £ £
Relief International:
Jeevan Asha 20,562 8,825 (8,033) - 21,354
Kibera development 10,197 21,453 (31,384) 6,000 6,266
Missionary maintenance
services 9,499 11,809 (11,068) - 10,240
School of ministry 10,650 32,080 (45,115) 8,604 6,219
Relief local:
Central hall fund 1,797 419 - - 2,216
Hardship fund 4,036 1,894 (5,631) - 299
Rest and recoup fund 284,859 - (77,505) (5,004) 202,350
SO14 47,312 - (17,454) - 29,858
Special Guardians 737 - (380) - 357
Minor restricted funds 829 11,972 (12,595) 622 828
390,478 88,452 (209,165) 10,222 279,987

NEW COMMUNITY NETWORK

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

21 Analysis of net assets between funds
Unrestricted Restricted
funds funds Total
£ £ £
Fund balances at 31 August 2023 are represented by:
Property, plant and equipment 1,138,200 - 1,138,200
Current assets/(liabilities) 152,567 222,585 375,152
Long term liabilities (229,655) - (229,655)
1,061,112 222,585 1,283,697
Unrestricted Restricted
funds funds Total
£ £ £
Fund balances at 31 August 2022 are represented by:
Property, plant and equipment 1,182,182 - 1,182,182
Current assets/(liabilities) 275,995 279,987 555,982
Long term liabilities (517,072) - (517,072)
941,105 279,987 1,221,092

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

22 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
128,949 126,141

Caroline Kennedy, wife of trustee Bill Kennedy was employed by the charity and received a salary and pension contributions of £nil during the year ended 31 August 2023 (2022: £5,562).

Billy Kennedy who resigned in the year as a Trustee from New Community Network was also a Trustee of the Pioneer Trust of which he also resigned from his role on 20 April 2023. Up to the date of his resignation from New Community Network, the charity paid grants to the Pioneer Trust amounting to £8,400 (2022: £17,608). The charity also made purchases from Pioneer Trust in the year of £nil (2022: £816)

The trustees and their close family or associated companies have donated an aggregate sum of £61,057 (2022: £35,788) to the charity.

Transactions with group companies

New Community Network was owed £38,236 (2022: £24,655) from New Community Ventures Limited at 31 August 2023.

NEW COMMUNITY NETWORK

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

23 Subsidiary undertakings

New Community Ventures Limited (no. 10586696) is a wholly owned trading subsidiary of New Community Network. It runs Central Hall as an events venue. Below is a summary of its financial results and position.

Gross income
Expenditure
Surplus/(Deficit)
Distributions to parent charity under gift aid
Surplus after distributions
Total assets
Total liabilities
Equity		 2023
£
7,032
99,751
193,573
(193,561)
12
(92,719)
586,722
(393,149)		 2022
£
(336,519)
368,667
32,148
(29,763)
2,385
84,187
(77,167)
7,020

NEW COMMUNITY NETWORK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

24 Cash generated from operations

Cash generated from operations
2023 2022
£ £
Profit/(Deficit) for the year 62,605 (113,455)
Adjustments for:
Investment income recognised in statement of financial activities (1,209) (92)
Loss on disposal of property, plant and equipment 82 -
Depreciation and impairment of property, plant and equipment 48,560 52,884
Movements in working capital:
Decrease/(Increase) in inventories 118 4,224
Decrease/(Increase) in trade and other receivables (8,042) 18,834
(Decrease)/Increase is trade and other payables 6,825 2,779
Cash generated from operations 108,939 (34,826)
Analysis of changes in net debt
At 1
September At 31
2022 Cash flows August 2023
£ £ £
Cash at bank and in hand 611,191 (174,420) 436,771
Loans falling due within one year (25,097) (7,509) (32,606)
Loans falling due after more than one year (517,072) 287,417 (229,655)
69,022 105,488 174,510

25 Analysis of changes in net debt

26 Non-audit services provided by auditor

In common with many charities of our size and nature we use our auditor to assist with the preparation of the financial statements.