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2023-07-31-accounts

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COMPANY REGISTRATION NUMBER: 03802499 CHARITY REGISTRATION NUMBER: 1078799

The Hub, Hazelwell

Company Limited by Guarantee Unaudited Financial Statements 31 July 2023

. _ The Hub, Hazelwell ‘ Company Limited by Guarantee

Financial Statements

Year ended 31 July 2023

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The Hub, Hazelwell Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) Year ended 31 July 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2023.

Objectives and activities

The charity's purposes as set out in the objectives contained in the Company's Articles of Association are:

Public Benefit

We have referred to the guidance contained in the Charity Commissions’ general guidance on public benefit when reviewing our aims and objectives and when planning activities for the year. This has been reflected not only in the community work of the Hub but also in the careful balancing of corporate groups using the building, which has enabled us to subsidise the cost of its use by community groups. People using the Hub in a year averages 1,100 per week.

Activities and use of The Hub

The Hub continues to operate within a tough and competitive environment with an increasing number of modern competing facilities now available within 1.5miles of the Hub. This is particularly the case in respect of corporate and commercial bookings that enable us to offer reduced prices to the charities and smaller groups who use us regularly and to maintain our support for our community works through ‘The Hub Ageing Together Social Project’ (THATSP). The last of the Covid restrictions, which ended in July 2022, was just before this financial year. This led to some gradual improvement in business, but not completely to best pre-Covid level bookings, with a surplus of £15,238. The Hub Trustees were concerned about the potential adverse impact of likely local authority budget cuts on the bookings and grant aid. During the year we employed one full-time member of staff, 3 part-time staff and 6 occasional stewards. The Hub continues to use and rent out the church for non-religious community use when available, particularly for music related users to the benefit financially of both church and Hub.

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The Hub, Hazelwell

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) (continuea) Year ended 31 July 2023

Achievements and performance

Activities for local people

Activities for local people The Trustees continue to give priority to expand use of the building by local and particularly older people through THATSP. This year we have been working to secure funding through Birmingham Mind and Spirit Partnership from Birmingham City Council and are hoping for a decision by October 2023.We aim to help local residents to stay physically and mentally fit. This forms part of our charitable activities and is a key part in our provision of benefit to the general public in in our local community by enabling friendships and promoting community adhesion.

The project has existed for 29 years and In October 2022 a new management committee was formed. Over the past year the project for the over-50s has been continuing its work in the community in trying to reach those isolated and harder to reach members of the community. The project has now formally adopted a new name and as mentioned earlier is now known as the The Hub Ageing Together Social Project. It still continues to be a partner of the Body Mind Spirit which underpins the approach we use to empower individuals to take part and run the activities at the centre,

Over the past year we have been able to observe the growth of some of the group activities, and new activities have begun including the creative art class and digital drops at the centre. We are also working on offering Warm places of welcome for the community.

We have signed up to become an online centre for digital support via The Good Things Foundation and also been working towards offering warm meals during the winter months. The number of participants has been steadily increasing during this period.

We also continue to build on our community partnerships within the Brandwood and Kings Heath area via community organisations and have been able to work in partnership with some organisations to provide activities.

Charitable Societies and Clubs

Some of our evening activities are registered charities, and benefit from subsidised room hire. Activities include fitness, slimming and healthy-eating groups, dance classes, pilates and yoga. Our conference facilities during the evenings are usually let to local charities for their meetings and sub committees. One community choir and one orchestra resumed after the ending of Covid restrictions on meetings. The Hub is open on weekdays from 8.00am-10.30pm and at weekends from 9am-6pm.(except during Covid restrictions). As one of the few local community/public access buildings locally available blood donor sessions continued monthly in the church managed by the Hub.

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The Hub, Hazelwell

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 July 2023

Achievements and performance (continued)

Sustainability

The Trustees have been mindful to continue to make the premises sustainable, to minimise operating costs and make it attractive to users and help maintain this local social enterprise. Maintenance and improvement work in the past year including work completed by staff and Trustees and contractors. A room ceiling light programme continued replacing existing lights with LED lights. Hub trustees had sought and secured charitable grant funding on behalf of Hazelwell Church to refurbish the church floor which has been completed this year making it safer and more attractive for all users. During the year markings of car parking bays were renewed and shrubs planted in the frontage grassed area to replace low level wood barriers. Staff and trustees have also carried out routine maintenance and decorating. Trustees are mindful of the need to update the lift, refurbish the kitchens, possibly promote a ramp to the church, improve insulation and reduce its carbon footprint. We are also seeking ways of increasing the number of male users and ensure continued use by children and youth groups and increasing diversity to better reflect the changing nature of the local community.

Financial review

The majority of operational costs are met by revenues generated by the centre. Grants are received in respect of specific expenditure either capital or maintenance related or for activities such as our work with older people. Total incoming unrestricted resources increased significantly over the year from £119,635 (2022) to £130,581. The unrestricted expenditure of the centre also increased, from £99,230 (2022) to £115,043. £300 was transferred to restricted funds in respect of prior years and the overall net surplus was £15,238. (2022: £20,405 surplus).

In addition restricted grants for work with older people recognised in the year were £19409 and £246 in respect of 'Warm Welcome’. £600 of a grant in respect Networking which had been brought forward from 2022 was spent together with £288 in respect of computer equipment. There remains £1,877 of grants received in previous years which is to be spent in 2023/2024, circumstances permitting.

As in previous years we provide for £18,590 of depreciation on the improvements to the property.

The net result is a balance carried forward on unrestricted reserves of £100,625 and restricted reserves of £559,598 made up of £557,721 capital grant and £1,877 for specific projects with older people.

Reserves Policy

The Company aims to keep in reserve sufficient funds to ensure the business can run for a period of 6 months without further income though like many similar organisations, these reserves and income were depleted during the period of Covid. The reserves at the year end exceeded this target. In light, however, of the current economic uncertainties the Trustees will continue to review the position. The shared let of the back office has continued to provide a welcome source of income.

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The Hub, Hazelwell

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continueg)

Year ended 31 July 2023

Financial review (continued)

Trustees and Staff

Despite all of the changes we have had to weather, | remain, as always, very grateful for the dedication and hard work of the Hub staff - Guy Morris, Dorrett Erskine, Tessa Taylor and Margaret Obodo, who Started work this year to assist Dorrett, and our part-time stewards. My thanks are also due to my fellow Trustees for their wisdom and practical help.

Volunteers

The work of the charity and its delivery of its objectives requires its paid staff to work alongside its volunteers including its work through The Hub: Ageing Together Social Project (THATSP), formerly called ACTS, and its Trustees. The charity is actively seeking further volunteers to support its work.

Fundraising

The trustees will continue to seek ways of securing funds and reducing building running costs and rebuilding our reserves post-Covid. Also to assist with the costs for ACTS so that they can continue their invaluable work for older people.

The Trustees are mindful of the need to obtain external funding to modernise and update the facilities of The Hub.

Structure, governance and management

Structure

The Hub Hazelwell is a company limited by guarantee governed by its Memorandum and Articles of Association dated 8 July 1999 and as amended by special resolution dated 4 January 2000 and is registered as a charity with the Charity Commission.

Governance

The Company is administered by up to twelve Trustees (currently ten), four of whom were involved in setting up the Company originally. They are appointed for three years and three of the Trustees retire each year at the Annual General Meeting. They receive no remuneration or benefits.

Organisation

The Board of Trustees administers the charity. The board meets quarterly. There are three subcommittees of trustees responsible for;

  1. staff recruitment and management,

  2. building and works, 3. finance.

The Facilities Manager has delegated authority for day to day operational and business matters.

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The Hub, Hazelwell

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 July 2023

Plans for future periods

Fundraising - the trustees will continue seek ways of securing funds and reducing building running costs and rebuilding our reserves post Covid. Also to assist with the costs for THATSP so that they can continue their invaluable work for older people. The Trustees are mindful to obtain external funding to modernise and update and maintain the facilities of The Hub.

Reference and administrative details

Registered charity name The Hub, Hazelwell Charity registration number 1078799 Company registration number 03802499 Principal office and registered 318 Vicarage Road office Kings Heath Birmingham B14 7NH

The trustees

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|||| |---|---|---| |J|Dunne| |C|Gunning| |G|Mitchell| |S|Moore| |Y|Swain| |P|Thomas| |D|Taylor| |J|Price| |Ms|S|Charalambous|

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There were no changes to the trustees during the year and all members who served during the year were still in place at the date of signing the report. Mr Peter Gardner was appointed a director/trustee on 14 November 2023.

Company secretary Ms C Gunning Independent examiner David Seeley FCA Accuo Accounting Limited Chartered Accountants Alvechurch Birmingham B48 7JX

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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The Hub, Hazelwell

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2023

The trustees’ annual report was approved on 20 March 2024 and signed on behalf of the board of trustees by:

S Moore Trustee

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The Hub, Hazelwell

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of The Hub, Hazelwell

Year ended 31 July 2023

| report to the trustees on my examination of the financial statements of The Hub, Hazelwell (‘the charity’) for the year ended 31 July 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. _ the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102).

| 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 accounts to be reached.

David Seeley FCA Independent Examiner

Accuo Accounting Limited Chartered Accountants Alvechurch Birmingham B48 7JX

2) KRedcag 2/4

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The Hub, Hazelwell

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 July 2023

2023 2022
Unrestricted Restricted
funds funds Totalfunds Total funds
Note £ £ £ £
income and endowments
Donations and legacies § 3,169 19,655 22,824 27,908
Charitable activities 6 113,847 - 113,847 105,844
Othertrading activities 7 12,401 - 12,401 6,508
Investment income 8 1,164 - 1,164 94
Total income 130,581 19,655 150,236 140,354
Expenditure
Expenditure on raising funds:
Costs ofothertrading activities 9 6,470 - 6,470 4,209
Expenditure on charitable activities 10,11 108,573 39,133 147,706 136,330
Total expenditure - 116,043 39,133 154,176 140,539
Net expenditure 15,538 (19,478) (3,940) (185)
Transfers between funds (300) 300 - -
Netmovement infunds 15,238 (19,178) (3,940) (185)
Reconciliation offunds
Total funds brought forward 85,387 578,776 664,163 664,348
Totalfundscarriedforward 100,625 559,598 660,223 664,163

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 19 form part of these financial statements.

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The Hub, Hazelwell

Company Limited by Guarantee

Statement of Financial Position

31 July 2023

2023 2022
Note £ £ £
Fixed assets
Tangible fixed assets 17 559,203 578,837
Current assets
Debtors 18 22,520 36,501
Cash at bank and in hand 92,335 61,060
114,855 97,561
Creditors: amounts falling due within oneyear 19 13,835 12,235
Net current assets 101,020 85,326
Total assets less current liabilities 660,223 664,163
Net assets 660,223 664,163
Funds ofthe charity
Restricted funds 559,598 578,776
Unrestricted funds 100,625 85,387
Totalcharityfunds 22 660,223 664,163

For the year ending 31 July 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 20 March 2024, and are signed on behalf of the board by:

S Moore Trustee

The notes on pages 10 to 19 form part of these financial statements.

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The Hub, Hazelwell

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Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 July 2023

1. General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 318 Vicarage Road, Kings Heath, Birmingham, B14 7NH.

The charity is a public benefit entity as defined in the Charities Act.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

  1. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 by reason of being small. As such the charity has taken advantage of the following disclosure exemptions available under FRS 102:

(a) No cash flow statement has been presented for the company.

(b) Disclosures in respect of financial instruments have not been presented.

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The Hub, Hazelwell

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

3. Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgement (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that has the most significant effect on the amounts recognised in the financial statements is that it will continue to operate for the foreseeable future. At present the Trustees believe this to be the case.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumption and other sources of estimation uncertainty that has a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (a) the property carrying value in the accounts of £557,721 is not materially overstated. (b) the amounts receivable for room hire etc of £17,949 are not materially overstated.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. At present all are classified as restricted income funds.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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The Hub, Hazelwell

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Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

3. Accounting policies (continued)

Resources expended

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property - 2% straight line Furniture and fittings - 20% straight line Computer equipment - 25% straight line

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

  1. Limited by guarantee The charity is a company limited by guarantee and as such has no share capital.

  2. Donations and legacies

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Unrestricted Restricted Total Funds
Funds Funds 2023
Donations £ £ £
Donations 3,169 - 3,169
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The Hub, Hazelwell

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

5. Donations and legacies (continued)

Unrestricted Restricted Total Funds
Funds Funds 2023
Grants £ £ £
Grants foroperational expenditure
Birmingham City Council
Government grantincome		 -
-
-		 19,655
-
-		 19,655
-
-
3,169 19,655 22,824
Unrestricted Restricted Total Funds
Funds Funds 2022
Donations £ £ £
Donations 3,011 ~ 3,011
Grants
Grants foroperational expenditure
Birmingham City Council
Governmentgrant income		 1,000
2,667
511		 20,719
-
-		 21,719
2,667
511
7,189 20,719 27,908
Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
Room hire £
113,847		 £
113,847		 £
105,844		 £
105,844
Othertrading activities
Unrestricted TotalFunds Unrestricted Total Funds
Funds 2023 Funds 2022
Catering income
Equipment hire
Vending machine income		 £
6,353
1,319
585		 £
6,353
1,319
585		 £
4,715
281
-		 £
4,715
281
-
Office rent
Feed in tariff
Local projects		 2,900
56
1,188		 2,900
56
1,188		 1,300
212
~		 1,300
212
-
12,401 12,401 6,508 6,508
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
Bank interestreceivable £
1,164		 £
1,164		 £
94		 £
94

6. Charitable activities

7. Other trading activities

8. Investment income

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The Hub, Hazelwell

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

9. Costs of other trading activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
Catering and otherfundraising g
6,470		 £
6,470		 £
4,209		 £
4,209
10. Expenditureon charitable activities byfund type
Unrestricted Restricted Total Funds
Funds Funds 2023
Community
lettings
Communitydevelopment
Local projects
Supportcosts		 £
99,655
-
1,392
7,526		 £
600
19,409
534
18,590		 £
100,255
19,409
1,926
26,116
108,573 39,133 147,706
Unrestricted Restricted Total
Funds
Funds Funds 2022
Community
lettings
Communitydevelopment
Local projects		 £
88,526
-
-		 £
2,500
20,219
_		 £
91,026
20,219
-
Support costs 6,495 18,590 25,085
95,024 41,309 136,330
11. Expenditureon charitable activities by activitytype
Activities
undertaken Support Totalfunds Total fund
Community
lettings
Communitydevelopment
Local projects
Governance costs		 directly
£
100,255
19,409
1,926
-		 costs
£
24,022
~
~
2,094		 2023
£
124,277
19,409
1,926
2,094		 2022
£
114,061
20,219
-
2,050
121,590 26,116 147,706 136,330

11. Expenditure on charitable activities by activity type

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The Hub, Hazelwell

Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 31 July 2023

12. Analysis of support costs

Analysis of
support costs
Community
lettings Total2023 Total 2022
£ £ g
Staff costs 4,388 4,388 3,330
Premises 18,590 18,590 18,590
General office 1,044 1,044 1,115
Governance costs 2,094 2,094 2,050
26,116 26,116 25,085
13. Net expenditure
Net expenditure is stated aftercharging/(crediting):
2023 2022
£ £
Depreciation of tangible fixed assets 19,634 19,705
14. Independent examination fees
2023 2022
£ £
Fees payable to the independent examiner for:
Independent examination ofthe financial statements 600 600
Other financial services 1,200 1,200
1,800 1,800
15. Staff costs
The total staffcosts and employee benefits for the reporting period are analysed as follows:
2023 2022
E £
Wages and salaries 71,300 63,590
Social security costs 3,096 3,002
Employer contributions to pension plans 1,030 937
75,426 67,529
The average head count ofemployees during the yearwas 5 (2022: 4). The average number of
full-timeequivalentemployeesduringtheyearisanalysedasfollows:
2023 2022
No. No.
Office staff 2 2
Working with older people 1 1
3 3

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

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The Hub, Hazelwell

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Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

15. Staff costs (continued)

Key Management Personnel

The trustees consider themselves to be the key management personnel of the charity and they received no remuneration or reimbursement of expenses in either year.

16. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees

17. Tangible fixed assets

Land and Fixtures and
buildings fittings Equipment Total
Cost £ £ £ £
At 1 August2022 and 31 July2023 929,525 91,842 42,888 1,064,255
Depreciation
At 1 August2022
Charge for theyear		 353,214
18,590		 89,914
733		 42,290
311		 485,418
19,634
At31 July 2023 371,804 90,647 42,601 505,052
Carrying amount
At31 July 2023 557,721 1,195 287 559,203
At 31 July 2022 576,314 1,928 598 578,837
18. Debtors
2023 2022
£ £
Trade debtors
Prepayments and accrued income		 17,949
4,571		 23,492
13,009
22,520 36,501

19. Creditors: amounts falling due within one year

2023 2022
£ £
Tradecreditors
Accrualsand deferred income		 2,707
11,128		 2,400
9,835
13,835 12,235

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The Hub, Hazelwell

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Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 July 2023

20. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,030 (2022: £937).

21. Government grants

Theamounts recognised in the Theamounts recognised in the financial statements forgovernment government grants are as follows: as follows:
2023 2022
£ £
Recognised in income from donations and legacies:
Government grants income - 511
Analysis ofcharitable funds
Unrestricted funds
At At
August2022 Income Expenditure Transfers 31 July 2023
£ £ £ £ £
General funds 85,387 130,581 (115,043) (300) 100,625
At At
August 2021 Income Expenditure Transfers 31 July 2022
£ £ £ £ £
Generalfunds 64,982 119,635 (99,230) - 85,387

22. Analysis of charitable funds

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The Hub, Hazelwell

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

22. Analysis of charitable funds (continued)

:

Restricted funds At 1 August
2022
£		 income
£		 Expenditure
£		 Transfers
£		 At
31 July 2023
£
Capital Grant 576,311 - (18,590) - 557,721
Thrive-Working With
Older People		 - 19,409 (19,409) - -
Edward
Cadbury-Property
Refurbishment and
Repairs
BCC-Networking
BCC-IT		 -
1,000
1,465		 -
-
-		 -
(600)
(288)		 -
-
300		 -
400
1,477
Central England
Community Dividend
Warm Welcome		 -
-		 -
246		 -
(246)		 -
-		 -
-
578,776 19,655 (39,133) 300 559,598
At1August
2021		 Income Expenditure Transfers At
31 July 2022
£ £ £ £ £
Capital Grant 594,901 - (18,590) - 576,311
Thrive-Working With
Older People		 - 20,219 (20,219) - -
Edward
Cadbury-Property
Refurbishment and
Repairs
BCC-Networking
BCC-IT		 2,000
1,000
1,465		 -
-
-		 (2,000)
-
-		 -
-
-		 -
1,000
1,465
Central England
Community Dividend		 - 500 (500) - -
Warm Weicome - - - - -
599,366 20,719 (41,309) - 578,776

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The Hub, Hazelwell

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Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 31 July 2023

23. Analysis of net assets between funds

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2023| |Tangible|£|£|£| |Current|fixed|assets|1,482|557,721|559,203| |assets|112,978|1,877|114,855| |Creditors|less|than|1|year|(13,835)|-|(13,835)| |Net assets|100,625|559,598|660,223| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2022| |£|£|£| |Tangible|fixed|assets|2,526|576,311|578,837| |Current assets|95,096|2,465|97,561| |Creditors|less than|1|year|(12,235)|-|(12,235)| |Net assets|85,387|578,776|664,163|

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