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2024-03-31-accounts

Charity registration number 1081902 (England and Wales)

Company registration number 03909272

STREET (UK) FOUNDATION

CONSOLIDATED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

STREET (UK) FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr S Johnson P R Tyrrell Charity number (England and Wales) 1081902 Company number 03909272 Registered office 31 Gourock Road London England SE9 1JA Independent examiner Paul Mannion BK Plus Limited 2 Highlands Court Cranmore Avenue Shirley Solihull West Midlands B90 4LE

STREET (UK) FOUNDATION

CONTENTS

Page
Trustees' report 1 - 3
Statement of Trustees' responsibilities 4
Independent examiner's report 5 - 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 19

STREET (UK) FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024.

The trustees have adopted the provisions of 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).

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Mr Steven Johnson and Mr Patrick Tyrrell remain as Trustees of Street (UK) Foundation.

Objectives and activities

The Foundation’s historic objectives are the relief of poverty; in particular (without prejudice to the generality) through:

The Foundation's historic mission is to support financially excluded individuals with tailored financial services, and offer a secure pathway out of debt, welfare and cash-economy dependency on a sustainable basis.

Cessation of charitable activities

The Charity continued to be effectively dormant throughout 2023-24 following cessation of activities by its trading subsidiaries in April and May of 2023 and their gradual progress towards solvent liquidation. The trustees, however, along with the directors of the three subsidiary companies, remained fully engaged with the appointed advisers and liquidators BKPlus. This was with the aim of trying to ensure, as far as possible, settlement of any outstanding obligations to beneficiaries, employees, investors, partners, suppliers and other third parties prior to formal entry into liquidation – which occurred in June 2024. Once the required timeframe has elapsed and liquidation has been finalised, the trustees will be in a position to decide on distribution of the Charity’s remaining unrestricted funds in accordance with its governing document.

Financial review

Street (UK) Foundation generated a deficit for the year of £842,135 (2023 – deficit of £515,627). The factors contributing to the significant deficit include to the costs incurred in ceasing activities. Most notably, after obtaining detailed legal advice the decision was made to write off the Charity’s loan portfolio as irrecoverable. This Board of Trustees considers that this cost directly achieves the Charity’s main objective to ensure those individuals excluded from mainstream financial services benefit from the Charity’s unrestricted reserve fund.

In addition the Charity had to ensure is dedicated team of staff were duly considered and payments were made in accordance with specific employment legislation. Also, the Charity had to terminate any existing leasehold property leases that were in place and suffer any costs of exit as required.

STREET (UK) FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Organisational structure

The Board of Trustees met quarterly to review the progress and activities of the Group. During the period in which the Charity’s future was being decided upon regular communication took place to discuss and appropriately document any decisions made.

Related parties

The Charity has two wholly owned subsidiaries, Street (UK) C.I.C. and Street (UK) Services Limited. The Board of Trustees of the charity also control Street UK Homes Limited. All three companies covenant any profits to the charity. Each subsidiary company ceased trading activities during the period and were placed into solvent administration in June 2024.

Risk management

The Board of trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The timely cessation of charitable activities together with the cessation of trading activities during the period illustrates the Board’s adoption of risk monitoring and protecting the Charity from exposure to future risk and loss of reserves.

The trustees have a risk management strategy which comprises:

Public benefit

The trustees are aware of the obligations of the charity, which are set out in the Guidance issued by The Charities Commission under The Charities Act 2006. They Board of Trustees are confident that the historic work of the charity in pursuit of its objects together with the timely decision to cease activities will protect charitable funds and ultimately ensure Public Benefit is duly considered. The Trustees will comply with the future reporting requirements in this regard.

Trustees indemnity insurance

The trustees are the directors of the Company. During the year and up to the date of approval of the financial statements, there was a qualifying third party indemnity in place for directors as allowed by Section 234 of the Companies Act 2006.

STREET (UK) FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Principle funding sources and Investment

As part of the cessation of activities the Board of Trustees ensured that all investors were fully repaid. Furthermore, given the Charity’s current dormant status external investment is not required.

Investment policy

The trustees' policy is to invest available unrestricted funds in easy access and relatively low risk bank accounts.

Reserves policy

The trustees' reserves policy is to retain unrestricted reserves to ensure sufficient funds are available to finalise the orderly winding up of the Charity without liability.

Principal risks and uncertainties

The board of trustees met regularly during the period to discuss the Charity and its subsidiary companies activities and results. The Board placed significant focus on risk management to ensure their decisions were both robust and practical. Where appropriate the Board requested expert financial and legal advice to assist their strategic decision making process.

Future plans

The future aim of the Board of Trustees is to finalise the Charity’s solvent wind down process. Whilst awaiting formal processes to be duly completed the Charity will continue to adopt dormant status.

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

Sue Fa Mr S Johnson Trustee

17 April 2025

STREET (UK) FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also the directors of STREET (UK) FOUNDATION 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.

STREET (UK) FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STREET (UK) FOUNDATION

I report to the Trustees on my examination of the consolidated financial statements of the Group comprising Street (UK) Foundation (the charity) and its subsidiary undertakings for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the consolidated financial statements of the Group in accordance with the requirements of the Companies Act 2006 and you have chosen to prepare consolidated accounts for the Group.

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

Basis of independent examiner's statement

My role is to state whether any material matters have come to my attention giving me cause to believe that:

  1. Accounting records for the Group were not kept in accordance with section 386 of the Companies Act 2006; or

  2. The consolidated financial statements do not accord with those accounting records; or

  3. The consolidated financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their consolidated financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or

  4. There is further information needed for a proper understanding of the consolidated financial statements to be reached.

Independent examiner's statement

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:

STREET (UK) FOUNDATION

INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF STREET (UK) FOUNDATION

I have completed my examination. I have identified a matter of concern that needs to be duly considered when assessing the going concern position of the Charity and its subsidiary companies. As at the date of this report the Charity has adopted dormant status and each subsidiary company is in the process of solvent administration. In due course the solvent administration process will complete and the trustees will then be able to decide on distribution of the Charity’s remaining unrestricted funds in accordance with its governing document. The exact date on which the Charity can distribute any remaining funds is unknown and therefore this needs to be duly considered when assessing the Group’s ability to continue as a going concern.

Paul Mannion FCA

BK Plus Limited 2 Highlands Court Cranmore Avenue Shirley Solihull West Midlands B90 4LE 17 April 2025

STREET (UK) FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Charitable activities
2
105,200
-
Other trading activities
3
23,210
-
Investments
4
8,794
-
Total income
137,204
-
Expenditure on:
Raising funds
5
207,247
-
Charitable activities
6
772,092
-
Total expenditure
979,339
-
Net expenditure
(842,135)
-
Transfers between
funds
100,000
(100,000)
Net movement in
funds
(742,135)
(100,000)
Reconciliation of funds:
Fund balances at 1 April 2023
1,295,565
100,000
Fund balances at 31 March
2024
553,430
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
105,200
574,663
-
23,210
203,119
-
8,794
4,894
-
137,204
782,676
-
207,247
249,317
-
772,092
1,048,986
-
979,339
1,298,303
-
(842,135)
(515,627)
-
-
111,000
(111,000)
(842,135)
(404,627)
(111,000)
1,395,565
1,700,192
211,000
553,430
1,295,565
100,000		 Total
2023
£
574,663
203,119
4,894
782,676
249,317
1,048,986
1,298,303
(515,627)
-
(515,627)
1,911,192
1,395,565

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

STREET (UK) FOUNDATION

CONSOLIDATED AND COMPANY BALANCE SHEET

AS AT 31 MARCH 2024

Group Group Company Company
2024 2023 2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 11 - 151,867 - -
Tangible assets 12 - 21,493 - -
Investments 13 - 192 4 4
- 173,552 4 4
Current assets
Debtors 14 62,114 671,351 345,231 1,803,513
Cash at bank and in hand 507,406 603,610 215,795 5,814
569,520 1,274,961 561,026 1,809,327
Creditors: amounts falling due within 15
one year 16,090 52,948 7,600 513,766
Net current assets 553,430 1,222,013 553,426 1,295,561
Total assets less current liabilities 553,430 1,395,565 553,430 1,295,565
The funds of the charity
Restricted income funds - general 16 - 100,000 - -
Unrestricted funds - general 17 553,430 1,295,565 553,430 1,295,565
553,430 1,395,565 553,430 1,295,565

The group is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the group to obtain an audit of its financial statements for the year in question in accordance with section 476.

The financial statements were approved by the Trustees on 17 April 2025

Mr S Johnson Trustee

Company registration number 03909272 (England and Wales)

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

STREET (UK) FOUNDATION is a private company limited by guarantee incorporated in England and Wales. The registered office is 31 Gourock Road, London, England, SE9 1JA.

Basis of preparing the financial statements

The financial statements of the parent charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The financial statements consolidate the results of the charity and its wholly owned subsidiaries Street (UK) C.I.C. and Street (UK) Services Limited together with the results of Street UK Homes Limited, a company under the common control of the Board of Directors of Street (UK) Foundation. The results of the three subsidiaries are consolidated within the Statement of Financial Activities (SOFA) to give a true and fair view of the state of affairs of the charity and its subsidiaries, therefore the results of the subsidiaries have not been consolidated on a line by line basis.

The charity has availed itself to Paragraph 3 (3) of Schedule 4 of the Companies Act and adapted the Companies Act Formats to reflect the special nature of the charity's activities. A separate SOFA has not been presented for the charity alone as permitted by Section 408 of the Companies Act 2006.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants are credited to deferred income. Grants towards capital expenditure are released to the Statement of Financial Activities over the expected useful life of the asset. Grants towards revenue expenditure are released to the Statement of Financial Activities as the related expenditure is incurred. Grants towards capital for on lending are released to restricted capital reserves when the funds are utilised in accordance with the company's principal activity.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Allocation and apportionment of costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and management payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent the charity's income profile.

Development costs

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised as an Intangible Asset to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight line basis over its estimated useful life. Amortisation begins when the intangible asset is available for use. No Amortisation has been made on the Development costs as at the year end the asset is not in a condition necessary for it to be usable in the manner intended.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Related party exemption

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tax recovered from research and development claims is allocated to the expenditure category which the claim relates.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Financial instruments Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity instruments

Share capital issued by Street (UK) C.I.C. and Street (UK) Services Limited is recorded at the proceeds received, net of direct costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Operating leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Investments in subsidiaries are recognised at cost.

Unlisted investments are initially recognised at cost, inclusive of any direct costs associated to the acquisition.

Unlisted investments are assessed for indicators of impairment at each reporting date. An impairment is considered to occur when the recoverable amount of the asset is less than the initial cost. Impairments are recognised in the income statement in the year that they arise.

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Income from charitable activities
Interest and fees receivable - 574,663
Other income 105,200 -
105,200 574,663
3 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Back Office Service Income 23,210 203,119
4 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 8,794 4,894

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Expenditure on trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Trading costs
Occupancy 53,995 24,066
Legal and Professional fees 7,530 1,578
Interest, fees and charges - 9,548
IT Costs 20,699 38,814
Loss on sale of assets 20,426 -
Office and Sundry - 10,697
Communications - 2,888
Depreciation and impairment - 4,083
Staff costs 71,611 113,886
Support costs 32,986 43,757
Total costs 207,247 249,317
6 Expenditure on charitable activities
2024 2023
£ £
Loan Portfolio Write Off 378,776 130,217
Fixed Asset and Intangible Asset Write Off 152,942 -
Impairment of Investments 192 -
Legal and Professional 45,713 4,733
Advertising 986 20,880
IT Costs 40,627 116,442
Staff Costs 16,583 366,873
Depreciation - 12,251
Occupancy - 171,671
Interest, fees and charges - 28,644
Office and Sundry - 30,718
Communications - 8,663
Share of support and governance costs (see note 7)
Support 103,950 138,303
Governance 32,323 19,591
772,092 1,048,986
Analysis by fund
Unrestricted funds 772,092 1,048,986

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Support costs allocated to activities

Support costs allocated to activities
Staff costs
Occupancy
Legal and professional fees
Interest, fees and charges
Office and sundry
Communications
Depreciation
Governance costs
Analysed between:
Trading activities
Charitable activities		 2024
£
-
88,494
-
8,481
35,974
3,987
-
32,323
169,259
32,986
136,273
169,259		 2023
£
134,022
16,677
1,760
10,647
11,181
3,220
4,553
19,591
201,651
43,757
157,894
201,651

8 Trustees

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

9 Employees

The average monthly number of employees during the year was:

All contracts of employment for employees ceased in June 2023.
Employment costs
Wages, salaries and social security		 2024
Number
3
2024
£
112,238
112,238		 2023
Number
21
2023
£
614,781
614,781

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

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Intangible fixed assets
Group Development
costs
£
Cost
At 1 April 2023 161,740
At 31 March 2024 -
Amortisation and impairment
At 1 April 2023 9,873
Impairment 151,867
At 31 March 2024 161,740
Carrying amount
At 31 March 2024 -
At 31 March 2023 151,867
12 Tangible fixed assets
Group Leasehold Plant and Fixtures and Computers Total
improvements equipment fittings
£ £ £ £ £
Cost
At 1 April 2023 14,868 200,474 7,448 21,125 243,915
Disposals (14,868) (200,474) (7,448) (21,125) (243,915)
At 31 March 2024 - - - - -
Depreciation and impairment
At 1 April 2023 14,868 190,148 6,228 11,179 222,423
Eliminated in respect of disposals (14,868) (190,148) (6,228) (11,179) (222,423)
At 31 March 2024 - - - - -
Carrying amount
At 31 March 2024 - - - - -
At 31 March 2023 - 10,326 1,220 9,946 21,492

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Fixed asset investments

Group Unlisted
investments
£
Cost or valuation
At 1 April 2023 & 31 March 2024 192
Impairment
At 1 April 2023 -
Impairment losses 192
At 31 March 2024 192
Carrying amount
At 31 March 2024 -
At 31 March 2023 192

Company

The company's investments at the balance sheet date in the share capital of companies are noted below.

Each subsidiary company has ceased its trading activities and each company entered solvent administration in June 2024:

Street (UK) C.I.C

%
Class of share: holding 2024 2023
Ordinary 100 £ £
Aggregate capital and reserves 2 2
Street (UK) Services Limited
%
Class of share: holding 2024 2023
Ordinary 100 £ £
Aggregate capital and reserves 2 2

Street UK Homes Limited

The company is limited by guarantee and has no share capital. The company is under the common control of the Board of Trustees of Street (UK) Foundation.

2024 2023
£ £
Aggregate capital and reserves - 100,000

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Fixed asset investments

(Continued)

The company’s reserves of £100,000 represents a fund to ensure future capital requirements incurred by Street UK Homes Limited can be settled by utilisation of the fund.

14
Debtors
Group
Trade debtors
Loan Portfolio
Other debtors
Prepayments and accrued income
Company
Amounts owed by subsidiary undertakings
Other debtors
Total company debtors		 2024
£
40,954
-
21,160
-
62,114
2024
£
324,071
21,160
345,231		 2023
£
48,640
498,810
65,715
58,186
671,351
2023
£
1,763,853
28,660
1,792,513
15
Creditors
Group
Trade Creditors
Social Security
Other Creditors
Company
Amounts owed to subsidiary undertakings
Other Creditors		 2024
£
1,004
786
14,300
16,090
2024
£
-
7,600
7,600		 2023
£
12,621
13,216
27,111
52,948
2023
£
502,766
-
502,766

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Capital fund - Street UK Homes
Previous year:
Capital fund - Street UK Homes
Capital fund - IT Development		 At 1 April
2023
£
100,000
At 1 April
2022
£
100,000
111,000
211,000		 Transfers
At 31 March
2024
£
£
(100,000)
-
Transfers
At 31 March
2023
£
£
-
100,000
(111,000)
-
(111,000)
100,000

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April At 1 April Incoming Resources Transfers At 31 March At 31 March
2023 resources expended 2024
£ £ £ £ £
General funds 1,295,565 137,204 (979,339) 100,000 553,430
Previous year: At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
General funds 1,700,192 782,676 (1,298,303) 111,000 1,295,565
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Current assets/(liabilities) 553,430 - 553,430
553,430 - 553,430

18 Analysis of net assets between funds

STREET (UK) FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Intangible fixed assets 151,867 - 151,867
Tangible assets 21,492 - 21,492
Investments 192 - 192
Current assets/(liabilities) 1,122,014 100,000 1,222,014
1,295,565 100,000 1,395,565