REGISTERED COMPANY NUMBER: 04258857 (England and Wales) REGISTERED CHARITY NUMBER: 1089951 PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Haines Watts Chartered Accountants & Statutory Auditors Old Station House Station Approach Swindon Wiltshire SN13DU
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS} CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Reference and Administrative Details Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Statement of Financial Position 10 Statement of Cash Flows Notes to the Statement of Cash Flows 12 Notes to the Financial Statements 13 to 22
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES Mr K A Smith Mr T M S Dutton Mr J Jenkins Ms S J Lewis Mr S Little Mrs K G Driscoll (resigned 8.8.24) Mr M J Hamilton-James (appointed 8.8.24) Mr K C Beattie (appointed 8.8.24) COMPANY SECRETARY Mrs K G Driscoll REGISTERED OFFICE Vassall Centre Gill Avenue Fishponds 8ristol BS16 2QQ REGISTERED COMPANY NUMBER 04258857 (England and Wales) REGISTERED CHARITY NUMBER 1089951 AUDITORS Haines Watts Chartered Accountants & Statutory Auditors Old Slalion House Station Approach Swindon Wiltshire SN1 3DU Page 1
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial stalements of Ihe charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objectives and mission of the Charity are.. To create an inclusive society by empowering adults who have learning disabilities to achieve purposeful and rewarding work opportunities. Our work is deeply integrated within the wider community to challenge perceptions of what people who have learning disabilities should expect from society. Al Props we foster independence and support people to grow in all aspects of their lives. Achievement and performance Charitable activities 2023 has been a challenging period for Props. As part of the preparalion and approval of these accounts a number of financial management issues came to light, most notably a significant fraud perpelrated by a senior member of staff which is the subject of an ongoing criminal investigation. Trainee numbers have remained strong in 2023 as Props continues to develop the number of activities and work focussed learning opportunities for Trainees. To support that addilional provision and to ensure that Props continues to provide quality services that are reflective of Trainees, wishes and aspirations, the staffing levels have remained fairly constant, to ensure a consistent and safe provision of services. For several years, the Props strategic plan has focussed on growth and the ability to support more learning-disabled people to be involved in meaningful work and to be able to participate in work-based opportunities. In September 2023, the charity achieved its primary stralegic objective for the year, with the opening of our Café, 'Crafted' located in Fishponds high street. Following a period of significant redevelopment, CrafteL% now provides a community centred café, workshop and retail space open 6 days per week. This has provided additional community focussed work-based opportunities for our Trainees, who have been engaged across the entire enterprise. Our café at the Vassall centre has continued to thrive providing a daily catering service to all workers and visitors to the Vassall centre. We continue to provide a catering service for conferences and meetings at the centre and we are currently developing a 'food club, which will create and deliver hot meals to those in need in the local community. The charity remains focused on the provision of its social enterprises, and we continue to develop sustainable activities that can deliver meaningful activities and employment opportunities for learning disabled people, while engaging with the wider community. Fundraising and donation totals for the period were slightly down on lasl year al £88k with £59k being unrestricted and £29k being restricted. The unrestricted funds being exclusively due to another very successful Bristol to Bordeaux cycle event which took place in early July. The trustees have due regard to the Charity Commission guidance on public benefit. Page 2
PROVIDING OPPORTUNITIES AND SUPPORT {PROPS} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review Financial position The statement of financial activilies for 2023 is set out on page 9 and shows a reported deficit for the year of £182,075 (2022 deficit £64,239). The deficit over the prior 2 years reflects investments in both Tapestry brewery and the Crafted coffee shop, as we continue to expand our enterprise provision. The 2023 deficit position is more pronounced as a result of fraudulent activity during the year. Investment in the enterprises through 2022 and 2023 has ensured that Props is now well placed to continue to expand ils provision. Further to these periods of investment in the Props proposition, enabling future trainee growth, Props will now focus on consolidation and maximising utilisalion of these enterprises for enhanced trainee provision and where appropriate revenue generation. In order to invest in growth opportunities, the trustees made the decision to reduce reserve levels to below that set out in reserves policy. The focus now in on returning to a level of reserves commensurate with our reserving policy of 3 months operating cost coverage. Reserves policy Further to the agreed investment in enterprises and unfortunate fraudulent activity in the year, reserves are below the targeted position. The reserves at the close of 2023 were £223.928 (2022.. £406,003), which is £45k below the targeted position. The Trustees have committed to reestablishing a reserves level to a minimum of three months, operating costs within the next three years. To accommodate this. we will be undertaking new fundraising initiatives to return reserves to desired levels., at the same time the charity's annual income and expenditure will become more sustainable. Free reserves amounted to £73,087 at 31 December 2023 (2022 £310.645). Future plans Props will continue its policy of sustainable growth over the next few years. We are constantly seeking new opportunities for additional funding, new initiatives and increasing our fundraising and grant income. The new enterprise space we have created at Crafted and the VC café will allow us lo continue to increase the level of trainees we are able to support. We continue to build strong relationships within the community and are actively working with other charities and not for profit organisalions. While providing the best possible service to our trainees is our key focus, we are also able to have a positive impact on the community around us. Page 3
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document PROPS was established on 27 July 2001 and registered as a charity on 3 January 2002. The board of trustees, who are also directors of the charity for the purposes of the Companies Act, have overall responsibility for the strategy, management and control of PROPS. The Chief Executive Officer, working with the senior management team, is responsible for delivering the Board's vision and strategy and for the day-to-day operations of the charity. Key management remuneration is set with reference to market rates. The Trustees are all volunteers, drawn from a range of backgrounds, in order lo provide a broad skills base for the Charity, and appropriate training is provided to assist in fulfilling their roles within the charity. The Charity regularly reviews the risks arising from its activities and takes appropriate action to minimise the impact of such risks to the charity. The Trustees have reviewed the major strategic, business and operational risks which the Charity faces, and identffied key risks. Actions to address key risk areas have been agreed and progress is reviewed regularly. In addition, strong financial controls are in place to mitigate the risk of financial losses due to theft or fraud. and these controls are also regularly reviewed. TREASURER'S COMMENT Further to investment in our enterprise provision over the past 2 years, we now turn to a posilion of investment consolidation and trainee growth. We are currenuy implementing a new fundraising strategy, welcoming new trainees. growing reserves and longer term creating profitable Enterprises to further support the charities long term financial sustainability- The continued objective of the trustees is to preserve sustainability of Props, while ensuring that the underlying infrastructure of the organisation continues to be fit for purpose and an effective organisation for delivering quality services. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Providing Opportunities And Support (PROPS) for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland.. 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 charitable company and of Ihe incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEhlBER 2023 STATEMENT OF TRUSTEES. RESPONSIBILrriES - continued In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware.. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDrroRS The auditors, Haines Watts, will be proposed for re-appointrnent at the forthcoming Annual General Meeting. Report of the trustees, inco rdtin a strateg5c report approved by order of the board of trustees, as the company directors. on . 2.3fi.l..i.I . and signed on the board's behalf by.. Mr K A Smith - Trustee Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) Opinion We have audited the financial statements of Providing Opportunities And Support (PROPS) (the 'charitable company,) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including 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 (United Kingdom Generally Accepted Accounting practi>, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statemenls.. give a true and fair view of the state of the charitable company's affairs as at 31 Dernber 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion Conclusions relating to going concem 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 idenlified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's abilily lo 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 tru51ees are responsible for the other information. The other information comprises the information included in the Annual Report. other than the financial statements and our Report of the Independent Auditors thereon. 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. In connection wtth our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to delermine 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. Comparative Figures The comparative figures for 2022 are unaudited. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Truslees for the financial year for which the financial stalemenls are prepared is consistent with the financial statements., and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatemenls in Ihe Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequale for our audil have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) Our 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 a Report of the Independent Auditors 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 malerial misstatement when it exists. Misstatemenls 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 slatements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below- We obtained an understanding of the legal and regulatory framework applicable to both the charity itself and the environment in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102), Charities Act 2011 and relevanl tax legislation. We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included.. making enquires of trustees and management as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud", obtaining an understanding of the internal controls established to mitigate risks related to fraud or non<ompliance with laws and regulations: assessing the risk of management oveIde including identifying and testing journal entries.. challenging the assumptions and judgements made by management in its significant accounting estimates. Despite the audit being planned and conducted in accordan with ISAS (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitalions of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those matters we are required to state to them in an audilors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work, for this report, or for the opinions we have formed. s Ac*l Susan Plumb (Senior Statutory Auditor) for and on behalf of Haines Watts Chartered Accountants & Statutory Auditors Old Station House Station Approach Swindon Wiltshire SN13DU Date: Page 8
PROVIDING OPPORTUNITIES AND SUPPORT {PROPS) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 58,802 28.840 87,642 101,662 Charitable activities Special Needs projects 837,481 2.000 839.481 728,424 Other trading activities Investment income 200,827 2,262 19.594 220,421 2,262 164,125 1,086 Total 1,099,372 50,434 1,149,806 995,297 EXPENDITURE ON Raising funds 118.661 2.650 121,311 130,600 Charitable activities Special Needs projects 1,210.570 1.210,570 928,936 Total 1.329,231 2.650 1.331,881 1,059,536 NET INCOMEI(EXPENDITURE) Transfers between funds (229,859) 62,160 47.784 62,160) (182,075) (64,239) 17 Net movement in funds (167.699) (14,376) (182.075) (64,239} RECONCILIATION OF FUNDS Total funds brought forward 382,806 23,197 406,003 470,242 TOTAL FUNDS CARRIED FORWARD 215,107 8,821 223,928 406,003 The notes form part of these financial statements Page g
PROVIDING OPPORTUNMES AND SUPPORT (PROPS) STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 2023 Totsl funds 2022 Total funds Unrestricted Restricted fund funds Notes FIXED ASss Tangible assets 12 142,020 142,020 72,161 CURRENT ASSETS stocks Debtors Cash at bank and in hand 13 14 2,910 72,756 2,910 72,756 109,823 245 482 144,905 8,821 153,726 355,305 CREDITORS Amounts falling due within one year 15 (71,818) (71,818) (21,463} NET CURRENT ASSETS 73.087 8,821 333,842 TOTAL ASSETS LESS CURRENT LIABILITIES 215.107 8.821 223,928 406,003 NET ASSETS 215.107 8,821 223.928 406,003 FUNDS Unrestricted funds R8Stricted funds 17 215,107 8.821 382,8C6 23,197 TOTAL FUNDS 223,928 406,003 The financial ststements were approved by the Board of TTUStees and authorised for issue on . and were signed on its behaff by". Mr K A Smith- Trustee The notes fom part of these financial stateffents Page 10
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operating activitles Cash generated from operations 38,0731 74,345) Net cash used in operating activities 38,073) 74,345) Cash flows from investing activities Purchase of tangible fixed assets Interest received (131,611) 2,262 (52,265) 1.086 Net cash used in investing activities 129,349) 51,179) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period {167,422) (125,524) 245,482 371,006 Cash and cash equivalents at the end of the reporting period 78,060 245,482 The notes form part of these financial statements Page11
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in stocks Decreasel(increase) in debtors Increase in creditors (182.075) (64,239) 61.747 (2,262) {2,910) 37,067 50,360 17,488 {1.086) (30,776) 4,268 Net cash used in operations 38,073) 74,345) ANALYSIS OF CHANGES IN NET FUNDS At 111123 Cash flow At 31112123 Net cash Cash at bank and in hand 245.482 167,422) 78,060 245,482 167,422) 78,060 Total 245,482 167,422) 78,060 The notes form part of these financial statements Page 12
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing the fjnancial statements The financial stalements of the charitable company, which is a public benefit entily under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charilies 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. 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 Vassall Centre, Gill Avenue, Fishponds, Brislol, BS16 2QQ. The financial statements are prepared in sterling. which is the functional currency of the entity and rounded to the nearest £. Going concern The charity remains dependant on South Gloucestershire and Bristol City councils for income relating to service provision. We have a strong relationship with our landlord, Bristol Charities, who continue to demonstrate ongoing engagement and full support. We see no reason for these sources of income and support not to continue in the future. We project healthy growth in trainee numbers, with continued throughput of successful applications and respective growth in trainees utilising the Props service provision. As we look to the future. we are focused on developing our property footprint to ensure we can maximise space efficiencies and the number of trainees we can safely support. Fundraising continues to provide incremental income to support supplementary enterprise activity designed to provide best in class vocational learning for our trainees. We are in the process of organising our annual Bristol to Bordeaux bike ride for 2025, with expectalions that we will generate £80-£1 Ook of fundraising from the event alone. We have also invested in a part time fundraising manager, to increase our presence with. and deliver incremental funding from, a broad range of grant giving trusts. The trustees have considered all relevant information. including budgets and future cash flows in making their assessment. that the going concern basis can continue to be adopted in preparing the annual report and accounts. 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. 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 classtfied 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. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each assel over its estimated useful lrfe. Fixtures and fittings Motor vehicles Computer equipment Leasehold improvements 25 % on reducing balance 250/0 on reducing balance 25 % on reducing balan 5 years Page 13 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES - continued Stocks & work in progress Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. An element of profil is included where the outcome of the project may reasonably be delermined. Taxation The charity is exempt from corporation tax on tts charitable activities. 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. Pension costs and other post-retirement benefits The charity contributes to personal pension arrangements of employees to meel the requirements of auto-enrolment. Contributions payable are charged to the Statement of Financial Activities in the period in which they relale. Debtors and creditors Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fijnds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. DONATIONS AND LEGACIES 2023 Total funds 2022 Total funds Unrestricted Restricted funds funds Donations Grants Membership 54,813 1,330 2,659 400 28.440 55,213 29,770 2,659 95,559 3,293 2,810 58,802 28,840 87.642 101,662 Of the above £23,896 represented restricted income in 2022. Page 14 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 DONATIONS AND LEGACIES - continued Grants received, included in the above, are as follows: 2023 2022 Council grant- Covid support South Gloucestershire Council Forbes Foundation Percy Bilton Bristol City Council Olher grants 3,293 13,940 1,500 3,000 10,000 1,330 29,770 3.293 OTHER TRADING ACTIVITIES 2023 Total funds 2022 Total funds Unrestricted Restricted funds funds Fundraising events VC Café income Brewery income Shop income 105,705 46,263 34,900 13,959 19.594 125,299 46,263 34,900 13.959 130,170 18,621 15,334 200.827 19,594 220,421 164,125 Of the above £23,482 represented restricted income in 2022. INVESTMENT INCOME 2023 Totsl funds 2022 Total funds Unreslricted funds Restricted funds Deposit account interest 2,262 2,262 1,086 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activity Special Needs projects Income from student fees Income from sales of goods Other income 801,583 713,154 Special Needs projects Special Needs projects 12,898 25.000 15,023 247 839,481 728,424 AII 2022 income was unrestricted. Page 15 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 RAISING FUNDS Raising donations and legacies 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Travelling Other office costs Postage, slationery and telephone Website costs Entertaining Bad debts written off 1,863 5.436 9,093 9,725 847 685 1,863 5,436 9,093 9,725 847 685 209 5,996 7,425 14.489 2.035 27,649 27,649 30,159 Other trading activities 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Purchases 91.012 2,650 93.662 100,441 Aggregate amounts 118,661 2,650 121.311 130,600 CHARITABLE ACTIVITIES COSTS Support costs (see note 8) Direct Costs Totals Special Needs projects 1,183,146 27,424 1,210,570 SUPPORT COSTS Governance costs Special Needs projects 27,424 NET INCOMEI(EXPENDITURE) Net incomel{expenditure) is stated after chargingl{crediting)= 2023 2022 Audilors, remuneration Depreciationlimpairment - owned assets Independent Examination fee 7,500 42,752 17,486 1,600 Page 16 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 10. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. 11. STAFF COSTS 2023 2022 Wages and salaries Social security costs Other pension costs 812,063 50,715 37,016 662.183 43.142 26.545 899,794 731,870 The average monthly number of employees during the year was as follows: 2023 2022 Management Programme staff 43 38 47 42 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2023 2022 £60,001- £70,000 Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity- The tolal compensation paid to key management personnel for services provided to the charity was £185,210 {2022 £167,836). Page 17 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 12. TANGIBLE FIXED ASSETS Fixtures and fittings Leasehold Imp Motor vehicles Computer equipment Totals COST At 1 January 2023 Additions Impairments 60,882 24,014 19,000) 58,328 43,649 3,555 162,859 131,611 19,000) 104,042 At 31 December 2023 104,042 65,896 58,328 47.204 275,470 DEPRECIATION At 1 January 2023 Charge for year 19,193 13,872 40,508 4,455 30,997 3,617 90,698 42,752 20,808 At 31 December 2023 20.808 33.065 44,963 34.614 133,450 NET BOOK VALUE At 31 December 2023 83,234 32,831 13,365 12,590 142,020 At 31 December 2022 41.689 17,820 12,652 72,161 13. STOCKS 2023 2022 Slock 2,910 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other debtors VAT 14,215 51,557 6,984 40.213 69,610 72,756 109,823 Page 18 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Social security and other tsxes Other creditors Accruals and deferred income 39,559 12,948 10,006 9.305 16,326 (963) 4.174 1.926 71,818 21,463 16. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows-. 2023 2022 Within one year Between one and five years 66.561 51,320 31,876 67,419 117.881 99,295 17. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31112123 At 111123 Unrestricted funds General fund 382.806 (229,859) 62,160 215,107 Restrlcted funds Sl James Place Minibus fund Apple Pressing B&Q HSBC SFX Foun(lation Aviva LDDF Clothworkers John James Foundation Forbes Foundation Chipping Rotary Percy Bilton Warburtons Quartet Foundation Fishponds and Downend Rotary Bristol City Council 4,170 3,150 394 5.000 5.000 5,483 (238) (2.193) 1,739 3,150 (394) (5,000) (5,000) 15,483) (13.940) (10.000) {5.000) {1,500) {250) (3,000) (400) 13,940 10,000 5,000 1,500 250 3,000 400 2,261 1,671 10,000 2,261 1.671 10.000) 23,197 47,784 62,160} 8,821 TOTAL FUNDS 406.003 182,075) 223,928 Page 19 conlinued...
PROVIDING OPPORTUNITIES AND SUPPORT {PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 17. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1.099.372 {1,329,231) (229,859) Restricted funds St James Place LDDF Clothworkers John James Foundation Forbes Foundation Chipping Rotary Percy Bilton Warburtons Quartet Foundation Fishponds and Downend Rotary Bristol City Council (238) {238) 13,940 10,000 5,000 1,500 250 3,000 400 2,261 1.671 10.000 13,940 10,000 5.000 1.500 250 3.000 400 4,344 2,000 10,000 (2,083) {329) 50,434 2.650) 47,784 TOTAL FUNDS 1,149,806 1,331,881) 182.075) Comparatives for movement in funds Net movement in funds Transfers between funds At 31112122 At 111122 Unrestricted funds General fund 354,857 (66,162) 94,111 382,806 Restricted funds Vassall Centre St James Place Minibus fund Apple Pressing B&Q HSBC SFX Foundation Aviva Calvert Trust 107,671 4,170 3.150 394 (107,671) 4,170 3.150 394 5,000 5,000 5,483 5,000 5,000 5,483 13.560) 13,560 115.385 1,923 23,197 TOTAL FUNDS 470.242 406.003 Page 20 continued.
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 17. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 947.919 (1.014,081) (66,162) Restricted funds Medlock Trust Sport England Quartet Stoke Park Nisbets B&Q Mrs Milson HSBC SFX Foundation Aviva Calvert Trust 5,000 3,091 2,941 7,450 5,000 1,000 5,000 5,483 12,413 (5,000) (3,091) (2,941) (7,450) 5,000 {1,000) 5,000 5,483 13,560) 25,973) 47.378 45.455) 1,923 TOTAL FUNDS 995,297 1,059,536) 64,239) St James Place gave a donation towards an employment coach. Minibus fund - funds raised to purchase two minibuses. One was purchased during 2019, the other was purchased during 2020. Apple Pressing- funds received to support apple pressing activities. Medlock Trust- grant to be used towards equipment for our new shoplcafe Sport England - grant to be used towards our sports programme Quartet Stoke Park- grant to be used towards our sports programme Nisbets - grant to be used to purchase kitchen equipment for our new shoplcafe B&Q - grant to be used to purchase equipmenvfurnishings for our new shoplcafe Mrs Milsom - to be used to help support our stay at The Calvert Trust HSBC SFX Foundation - grant to be used towards workslprofessional serviceslmaterial for our new cafelshop Aviva - grant to be used for our new shoplcafe Calvert Trust- income to support our residential stay. LDDF - grant to fund refurbishment of our new shop. Clothworkers - grant to fund refurbishment of our new shop. John James Foundation - grant to fund refurbishment of our new shop. Forbes Foundation - grant to fund refurbishment of our new shop. Page 21 continued...
PROVIDING OPPORTUNITIES AND SUPPORT (PROPS) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 17. MOVEMENT IN FUNDS - continued Chipping Rotary - grant to fund refurbishment of our new shop. Bristol City Council - grant to fund refurbishment of our new shop. Percey Bilton - grant to fund refurbishment of our new shop. Warburton - grant toward5 running of our bike maintenance workshop Quartet Foundation- grant towards running of our bike maintenance workshop Fishponds and Downend Rotary- grant to fund allotment development Transfers between funds Transfers are made from unrestricted funds to restricted funds to cover any restricted funds in deficit. Where restricted income has been given for capital projects and spent in the year the income has been transferred to unrestricted funds at the year end to reflect the general use of the asset financed going fomard. 18. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. 19. LIMITED BY GUARANTEE The company is limited by guarantee, having no fixed share capital. The liability of members is limited to £1. Page 22