Charity registration number 1074971
WEST LONDON COMMUNITY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
WEST LONDON COMMUNITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Vicky Read | |
|---|---|---|
| Nicholas J K Becker | (Appointed 30 September 2022) | |
| Shushilkumar Chohan | (Appointed 30 September 2022) | |
| Zoe A Kowalski | (Appointed 30 September 2022) | |
| Charity number | 1074971 | |
| Independent examiner | Summers Morgan | |
| First Floor, Sheraton House | ||
| Lower Road | ||
| Chorleywood | ||
| Hertfordshire | ||
| WD3 5LH | ||
| Bankers | Lloyds TSB Bank plc | |
| 45 The Broadway | ||
| Ealing | ||
| London | ||
| W5 5JU | ||
| Solicitors | EDC Lord & Co | |
| Link House | ||
| 1200 Uxbridge Road | ||
| Hayes | ||
| Middlesex | ||
| UB4 8JD |
WEST LONDON COMMUNITY TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 16 |
WEST LONDON COMMUNITY TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's declaration of trust, the Charities Act 2011 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
Our charitable objects are to advance, encourage and promote the practice and general awareness of Christianity amongst members of the public in the Greater London Boroughs of Ealing and Hounslow.
The policies adopted in furtherance of these objects have been the purchase of housing for, and employment of Christian youth and children's workers, support for the New Wine Discipleship Year Hub for West London and support for Discipleship Year Students based at St Paul's Church, Ealing.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
Achievements and performance
The trust's activities during the year have continued to be the support of Christian youth and children’s pastors and also the support, host and manage the West London New Wine Discipleship Year training hub.
The trust acts as the host for Ealing Besom, which receives donations of good quality second-hand furniture equipment and matches this with those in need in the local community. Referrals are received from the community, via Ealing Foodbank, Social Services and other community groups.
The work of the Christians Against Poverty (CAP) Ealing Debt Centre was able to restart in February 2021 following on from the employment of a new debt centre manager who was able to start supporting clients again after completing his initial training. The debt centre provides free debt centre counselling and advice to those in the community who are approaching or in financial difficulty with the aim of supporting clients back to a place of financial stability and being debt free. This work is done in association with the national CAP charity who provide support, training and advice to the local debt manager and the centre is based at Oaktree Church in Acton.
The trust expects to continue to work across these areas with no significant change in activities in the coming year.
Financial review
The financial transactions during the year and financial position at the end of the year are summarised in the attached accounts. Most of the trusts income for the year came from St Paul's Church Ealing and its members. The trustees consider that the financial position at the end of the year was satisfactory.
The trust held total funds at 31st December 2022 of £944,250 (2021: £934,452) of which £275,487 were unrestricted (2021: £238,915) and £668,763 (2021: £695,537) restricted. Of the unrestricted funds £275,487 (2021: £238,915) can only be realised by disposing of the freehold property and therefore under the Charities Commission definition, the trust has no free reserves at 31st December 2022 (2021: Nil). It is the policy of the trust that reserves be maintained at a level to maintain three to four months' average expenditure. The Charity's reserves position has decreased to a level that does not fully satisfy the reserves policy and the trustees, in conjunction with the PCC, are continuing to take steps to rectify this during 2023 and will also review the overall reserves policy in light of the current operating conditions.
The trustees set a budget annually and monitor cash flow to ensure their liabilities can be met. Consideration has been given to ways in which additional funds may be raised.
The trustees have reviewed the major risks facing the trust and are satisfied that all reasonable measures are in place to mitigate their effect. They intend to keep these matters under regular review.
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WEST LONDON COMMUNITY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Plans for future periods
The trust expects to continue to run the New Wine Discipleship Year hub in association with New Wine and Besom Ealing and the CAP debt centre. In 2023, the trustees plan to review the current activities and explore other opportunities to providing support to those in our local community.
Structure, governance and management
The trust was established by a charitable trust deed on 26 June 1998. The trust objects are to promote the advancement and awareness of Christianity throughout West London and the London Boroughs of Ealing and Hounslow, in particular by providing assistance and support to young people, the elderly, ex offenders or others in conditions of hardship or distress as a result of social circumstances or disadvantage.
The trustees who served during the year were: Sara Sinker (Resigned 30 September 2022) Ray Elliott (Resigned 30 September 2022) Vicky Read Simon Richardson (Resigned 30 September 2022) Nicholas J K Becker (Appointed 30 September 2022) Shushilkumar Chohan (Appointed 30 September 2022) Zoe A Kowalski (Appointed 30 September 2022)
The trustees receive no remuneration for their role and all are actively involved in the day to day management of the trust. The appointment of trustees is carried out in consultation with the PCC of St Paul's Church Ealing.
The trust's affairs are conducted by the trustees in conjunction with other staff and members of St Paul's Church Ealing.
Restricted Funds
Freehold Property Nightingale Road, 16 Studley Grange Road, 114 Studley Grange Road and 7 Rosedale Close funds were used for the purchase and maintenance of the named properties, within each fund, to provide housing for workers of the trust, other local Christian workers, volunteers and young people.
Prison Ministry fund is used for the work of the Community chaplaincy within Wormwood Scrubs prison.
The Besom fund was used for the Besom Ealing Hub which receives donations of good quality second-hand furniture and equipment and redistributes this to those in need, who have been referred by the community services such as Foodbank.
CAP Ealing Debt Centre fund is used to employ a part-time manager to provide free debt counselling services to those already in debt or in danger of falling into debt. The debt centre was originally set up by a several churches across Ealing following on from the ‘Soul in Ealing/Love Ealing’ initiatives several years ago but had no host organisation and was adopted into the Trust as a restricted fund. On a day to day basis the management of the centre is overseen by a small committee of local church leaders and by the national CAP charity.
The trustees' report was approved by the Board of Trustees.
Vicky Read Trustee
25 September 2023
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WEST LONDON COMMUNITY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WEST LONDON COMMUNITY TRUST
I report to the trustees on my examination of the financial statements of West London Community Trust (the trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Nicholas Corden ACA (Senior Statutory Auditor) Summers Morgan
First Floor, Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH
Dated: 28 September 2023
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WEST LONDON COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 6,739 59,368 Income from charitable activities 2 15,611 18,036 Other income 3 26,098 - Total income 48,448 77,404 Expenditure on: Charitable activities 4 36,219 79,835 Net incoming/(outgoing) resources before transfers 12,229 (2,431) Gross transfers between funds 24,343 (24,343) Net income/(expenditure) for the year/ Net movement in funds 36,572 (26,774) Fund balances at 1 January 2022 238,915 695,537 Fund balances at 31 December 2022 275,487 668,763 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 66,107 994 72,834 33,647 16,205 20,450 26,098 27,099 - 125,852 44,298 93,284 116,054 41,656 68,332 9,798 2,642 24,952 - 35,558 (35,558) 9,798 38,200 (10,606) 934,452 200,715 706,143 944,250 238,915 695,537 |
Total 2021 £ 73,828 36,655 27,099 |
|---|---|---|
| 137,582 | ||
| 109,988 | ||
| 27,594 - |
||
| 27,594 906,858 |
||
| 934,452 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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WEST LONDON COMMUNITY TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets Income funds Restricted funds 15 Unrestricted funds |
2022 £ £ 1,342,673 1,124 60,150 61,274 (32,322) 28,952 1,371,625 (427,375) 944,250 668,763 275,487 944,250 |
2021 £ £ 1,357,929 886 61,266 62,152 (25,815) 36,337 1,394,266 (459,814) 934,452 695,537 238,915 934,452 |
|---|---|---|
The financial statements were approved by the Trustees on 25 September 2023
Vicky Read Trustee
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
West London Community Trust is an unincorporated Charity registered with the Charity commission in England and Wales (number 1074971); its principle address is 4a Ridley Avenue, London, W13 9XW.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's declaration of trust, the Charities Act 2011 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 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the trust. 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 trust 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.
1.4 Income
Donations are credited in the accounts when they are received. Income tax recoverable on Gift Aid donations is credited at the same time as the related donation.
1.5 Expenditure
Expenditure is recognised in the accounts at the time when a liability to make payment is incurred.
1.6 Tangible fixed assets
Tangible fixed assets other than freehold land are stated at cost less depreciation.
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:
Freehold land and buildings 2% per annum on cost of buildings Plant and machinery 25% per annum on net book value
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.7 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.
1.8 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
2 Income from charitable activities
| Unrestricted funds Restricted funds 2022 2022 £ £ Discipleship year income 15,611 - Christians against poverty income - 18,036 15,611 18,036 Analysis by fund Unrestricted funds 15,611 - Restricted funds - 18,036 15,611 18,036 |
Total 2022 Unrestricted funds Restricted funds 2021 2021 £ £ £ 15,611 16,205 - 18,036 - 20,450 33,647 16,205 20,450 15,611 16,205 - 18,036 - 20,450 33,647 16,205 20,450 |
Total 2021 £ 16,205 20,450 |
|---|---|---|
| 36,655 | ||
| 16,205 20,450 |
||
| 36,655 |
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
3 Other income
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Other income | 2,988 | - |
| Rental income | 23,110 | 27,099 |
| 26,098 | 27,099 |
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
4 Charitable activities
| Discipleship Year 2022 £ Staff costs 3,346 Depreciation and impairment - Direct costs 9,153 12,499 Grant funding of activities (see note 5) - Share of support costs (see note 6) 278 Share of governance costs (see note 6) 201 12,978 Analysis by fund Unrestricted funds 12,978 Restricted funds - 12,978 |
Prison Ministry The Besom St Pauls Ealing 2022 2022 2022 £ £ £ - - - - - 15,256 7,177 1,504 15,063 7,177 1,504 30,319 - - 19,251 179 40 22,672 130 29 1,080 7,486 1,573 73,322 309 69 22,853 7,177 1,504 50,469 7,486 1,573 73,322 |
CAP 2022 £ 13,375 - 7,320 20,695 - - - 20,695 10 20,685 20,695 |
Total 2022 £ 16,721 15,256 40,217 72,194 19,251 23,169 1,440 116,054 36,219 79,835 116,054 |
Total 2021 £ 13,566 15,258 28,034 |
|---|---|---|---|---|
| 56,858 30,433 21,017 1,680 |
||||
| 109,988 | ||||
| 41,656 68,332 |
||||
| 109,988 |
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 Charitable activities
(Continued)
For the year ended 31 December 2021
| Discipleship Year £ Staff costs 3,346 Depreciation and impairment - Direct costs 4,785 8,131 Grant funding of activities (see note 5) - Share of support costs (see note 6) 2,943 Share of governance costs (see note 6) 235 11,309 Analysis by fund Unrestricted funds 8,659 Restricted funds 2,650 11,309 Grants payable Grants to institutions: St Pauls Ealing Church |
Prison Ministry The Besom St Pauls Ealing CAP £ £ £ £ - - - 10,220 - - 15,258 - 1,157 1,007 15,181 5,904 1,157 1,007 30,439 16,124 - - 30,433 - 1,891 421 15,762 - 151 34 1,260 - 3,199 1,462 77,894 16,124 339 76 32,442 140 2,860 1,386 45,452 15,984 3,199 1,462 77,894 16,124 St Pauls Ealing 2022 £ 19,251 |
Total 2021 £ 13,566 15,258 28,034 56,858 30,433 21,017 1,680 109,988 41,656 68,332 109,988 St Pauls Ealing 2021 £ 30,433 |
|---|---|---|
5 Grants payable
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
6 Support costs
| Support costs Governance costs £ £ Premises expenses 1,985 - Administrative expenses 21,184 - Audit fees - 1,440 23,169 1,440 Analysed between Charitable activities 23,169 1,440 |
2022 Support costs Governance costs £ £ £ 1,985 2,090 - 21,184 18,927 - 1,440 - 1,680 24,609 21,017 1,680 24,609 21,017 1,680 |
2021 £ 2,090 18,927 1,680 |
|---|---|---|
| 22,697 | ||
| 22,697 |
Unless support and governance costs relate directly to a specific charitable activity, they are allocated pro rata as a proportion of relative income. This is currently 14% to Discipleship Year, 9% to Prison Ministry, 2% to The Besom and 75% to St Pauls Ealing.
Governance costs includes payments to the independent examiner of £1,440 (2021 - £1,680) for independent examination and accountancy fees.
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the year.
8 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| DY students and Pastoral support | 2 | 2 |
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 16,257 | 13,261 |
| Other pension costs | 464 | 305 |
| 16,721 | 13,566 |
There were no employees whose annual remuneration was more than £60,000.
9 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.
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 10 Tangible fixed assets Freehold land and buildings £ Cost At 1 January 2022 1,515,078 At 31 December 2022 1,515,078 Depreciation and impairment At 1 January 2022 157,179 Depreciation charged in the year 15,248 At 31 December 2022 172,427 Carrying amount At 31 December 2022 1,342,651 At 31 December 2021 1,357,899 11 Debtors Amounts falling due within one year: Prepayments and accrued income 12 Loans and overdrafts Bank loans Payable within one year Payable after one year |
Plant and machinery £ 1,269 1,269 1,239 8 1,247 22 30 2022 £ 1,124 2022 £ 451,718 24,343 427,375 |
Total £ 1,516,347 |
|---|---|---|
| 1,516,347 | ||
| 158,418 15,256 |
||
| 173,674 | ||
| 1,342,673 | ||
| 1,357,929 | ||
| 2021 £ 886 |
||
| 2021 £ 476,061 |
||
| 16,247 459,814 |
A Mortgage was obtained in October 2008 from Kingdom Bank Limited to assist in the purchase of 16 Studley Grange Road, London which cost £319,000 freehold. This is a capital repayment loan, repayable over 20 years at a rate of 2.5% over the Kingdom Bank Limited base rate. The amount outstanding at 31st December 2022 was £36,053.64.
A Mortgage was obtained in May 2013 from Kingdom Bank Limited to assist in the purchase of 114 Studley Grange Road, London which cost £386,000 freehold. This is a capital repayment loan, repayable over 29 years and 5 months at a rate of 5% over the Kingdom Bank Limited base rate. The amount outstanding at 31st December 2022 was £22,123.93.
A Mortgage was obtained in November 2015 from Kingdom Bank Limited to assist in the purchase of 7 Rosedale Close, London which cost £515,000 freehold. This is a capital repayment loan, repayable over 30 years at a rate of 3.5% over the Kingdom Bank Limited base rate. The amount outstanding at 31st December 2022 was £393,540.26.
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 13 Creditors: amounts falling due within one year Notes Bank loans 12 Other taxation and social security Other creditors Accruals and deferred income 14 Creditors: amounts falling due after more than one year Notes Bank loans 12 |
2022 £ 24,343 150 - 7,829 32,322 2022 £ 427,375 |
2021 £ 16,247 140 2,988 6,440 |
|---|---|---|
| 25,815 | ||
| 2021 £ 459,814 |
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
15 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:
| Balance at 1 January 2021 r £ For Freehold Property Nightingale Road 199,174 For Freehold Property 16 Studley Grange Road 214,718 For Prison Ministry 8,334 For Freehold Property 114 Studley Grange Road 213,478 For Freehold Property 7 Rosedale Close 28,497 For Besom 9,275 For Christians against poverty 32,667 706,143 |
Movement in funds Incoming esources Resources expended £ £ 3,302 (5,707) 5,705 (7,946) - (1,157) 10,734 (9,524) 51,479 (25,988) 1,615 (2,027) 20,450 (15,984) 93,285 (68,333) |
Transfers Balance at 1 January 2022 r £ £ - 196,769 (1,104) 211,373 - 7,177 (3,438) 211,250 (31,016) 22,972 - 8,863 - 37,133 (35,558) 695,537 |
Movement in funds Incoming esources Resources expended £ £ 2,263 (4,645) 6,483 (8,772) - (7,177) 7,916 (8,594) 42,506 (28,458) 200 (1,504) 18,036 (20,685) 77,404 (79,835) |
Transfers Balance at 31 December 2022 £ £ - 194,387 (1,051) 208,033 - - (3,291) 207,281 (20,001) 17,019 - 7,559 - 34,484 (24,343) 668,763 |
Transfers Balance at 31 December 2022 £ £ - 194,387 (1,051) 208,033 - - (3,291) 207,281 (20,001) 17,019 - 7,559 - 34,484 (24,343) 668,763 |
|---|---|---|---|---|---|
| 668,763 |
Prison Ministry - for the work of the Community Chaplaincy at Wormwood Scrubs.
Besom - a project which enables us to serve those in need through the donation and delivery of furniture, white goods and other items and through projects such as painting and gardening.
Freehold properties Nightingale Road, 16 & 114 Studley Grange Road and 7 Rosedale Close - to provide affordable housing to support Christian workers and young adults within Ealing.
Christians against poverty - used to employ a part time manager to provide free debt counselling services to those already in debt or in danger of falling into debt
Transfers between funds represent the capital element of the mortgage repayments made in the year being transferred to Unrestricted funds to ensure the Restricted fund balances for the properties held within Restricted funds do not become inflated as a result.
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WEST LONDON COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 16 Analysis of net assets between funds Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 December 2022 are represented by: Tangible assets 715,953 626,720 Current assets/(liabilities) (13,091) 42,043 Long term liabilities (427,375) - 275,487 668,763 |
Total Unrestricted funds Restricted funds 2022 2021 2021 £ £ £ 1,342,673 715,565 642,364 28,952 (16,836) 53,173 (427,375) (459,814) - 944,250 238,915 695,537 |
Total 2021 £ 1,357,929 36,337 (459,814) 934,452 |
|---|---|---|
17 Related party transactions
The Charity is dependent upon the PCC of St Paul's Ealing for the majority of its funding. The Charity received donations of £65,368 in the year from St Paul's (2021 - £71,794). There were no balances outstanding between the charities at the year-end (2021 - £NIL). St Paul's also acts as a guarantor for the mortgages held over 16 Studley Grange Road, 114 Studley Grange Road and 7 Rosedale Close.
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