COMPANY REGISTrATION NUMBER: 042778n CHARrrY REGISTrATION NUMBER:1090593 Gen?81s Entsrprise Foundation Company Limited by Guarantee Unaudlted Financlal Statements 31 Decemr 2022 YEOMANS RRISON AND ASSOCIATES LTD Dutham Hou8e 38 Street Lane Denby Derb shiie
Genesis Enterprise Foundation Company Limitod by Guarantse Financial Ststements Year ended 31 December 2022 Pago Tru8tee3' annual réport (incotporatiro tt)e dwectof3 report) Indepandent 8xaminefs report lo Ihe lJustees 8tatement of finan¢ial activiti•8 (induding Ineom8 arKI expenditure acctwnt) statement of financial positlon Nokes to thé financial Srnents Thg followlng pages do not lorni part ol th• flnan¢lAI $iat•mènt• 08talled statement of finanoal activiti'eg 18
G8n8sis Enterprise Foundation Company Limitsd by Guarantse TruGtses' Annual Report IlnGorporating the DireGtorfs Repor4 Year end8d 31 Decemb8r 2022 The tru8tees, who are also the thre¢tots fvr the purposes of cryy law, present their report and the unaudrted financlal stateitents otthè thanty fN ts year 31 Dlber2022 R•f8r•nee and adminkntrntr detsl R•glst•¥•d crity nam• Chwrlty rngl¥trallon numbw 10WJ593 Comp•ny r•gi•tr4lipD n¥mb•r 04277872 Prlnclpal offlco and v•gtsrnd Afre1 H1 Ghurth 8treet DE55 IA Fl Hodgkm D Holm¢s P M siarbW AVanc S Tayl)r {hgpoinW 18 2022) IAppoWiied 18 Marth 2022) {ApprinW 18 March 2022) (Reslgnai 24 March 2022) Indep•nO•At •xamln#r
Genesis Enterprise Foundation Company Llmltsd by Guarantse T1, Annual R•port (Incorporating the Directols Roportl leoth Year ended 31 Dècem1 2022 Slructure, governance and Tnanagenw Gov•mlng do¢umenl The chanty Is Gontrolbj Lry its gling a deed ol tr( and corssubjks a Ilnlted mpany, limid by gu8r4nto0 as d•fmd by tha Comp8nles 2IN Tho cl)artty m ftrnj u a G(winy on 26th August 20Q1. The overtyll manag•m8nl of the Ghafity I the rosp)n¥iDIIty ol the Tnjslees, who are a150 dlrectLn for Ihe purpo5 Of ojmpany law. The TnteS m981 rgyularw to Gu$S matters aff8cting Ihe charity. Senior staff are dso PTe5ent, il requird. lo prov•Ye insight into IJSLtos Th• n)attèrs dL9ce inclvd8 Ilnance. fvnaing, sVICe dèliv. and ri•k8 laung charity. The Tntee8 empw staff to w out the day to day runthg ofthg ¢forlty. Re¢rultment 8rJ apwinled of Trust88S Gene$is Entwpris¢ Foundalmx out a sklllj audit of Gury•nt TNJi•e8 whh Klentifiès kndg¥ gaps wrthin the l)oard an¢ 8•&3 tQ Fxruft Into those gaWJ. IndtKIn and tr8iniNJ of new Truste8J Nw Trust#Ès famlw ¥nlh thè pradie81 work of the chaflfy 8rMI Ine group after readlng the AnnuAI R•port 8nd wlll hav• aLqo w5y Ot Ihg charty's IAgmoigndum and Artidgs and tr• Ipl¢g1 flnonGk41 r•port•. They will also ry¥e#t with the Chf Exry and TN8t••• •• wèll • belng offered opportunltss to meet stsff ffmb0rJ. AddttIa1ty. tmy are Imilte(110 811end WU¢ll0n tr&"rdng t>Jvws thg lolknwlng arnas.. 1. The Polry and PraetKe 13uhl• 2. Trdlnlng and Support 3. Roles and Re8r4)n8ibifities 4. Knowledgè 5. Cornmunieaoons 6. Best Pr Guide Ail Trustoes sVJnp0 to 0r fgbvant tralnlng throLwJhoth ts year. Remun8r#tYJn of TnJsl855 The rernuneTabon of Tru8te•• M o)nsidw4d by Iho whol• board lJa2gd on thair 0x9nce of the aTIty anf1 includes ta"n9 adYiGe Irtmi extyrol odvisor¥ where •PPTOPriQt¢. To dato no Trus ha8 aFry fvrrnjnetation. Rssk M3nafjement Th¢ Trustees have a duty ts) Klentify aFMJ tt* risks to whth th8 charity oxpogod and 10 4nsura aPPTDpnate controts are In pW£ to pffjviae re?wnaB è6suRnce against fr)ud and error.
Genesis Enterprise Foundation 9mpiny Umtsd by Gu3fdnts@ Trustees, Annual Report Oncorporating the Directols Report) Iclknu Year ended 31 DeCber 2022 Objecttr and activides CkAn'table Atrlths Thè charty is proud trj havo contributed to the trBnsfrJrmatrc of the area through enlwpts&, job cation, training and rrAny community fadibès dev&tped. The pro ffle a fAse stsJty across the reglon •nd gavg bith lo se¥eTal ¥imli ar Venlures actoss the UK Wlldw afiald th8 trning oe 50d0l entrep•urS tjelped develop Sustslnable enterprises. Proié(Js in oth8r cJJntrl•s w•rn a••i•ttid by sowlng In tralning prc4Jfdmrw and Mtorj as well as Ffdcueal atd. So, th¥ tharfty look8 b8ck wilh prwje at the ¢hwn ot the s•ok to bujkl upon th tn comkng y•ars. Achlevvm•nts and Iwlorrn•ne• Th¢ ypor 2022 6adty aUlI tght Itx clialw 88 the afteATrnth of Cov# ccffilknu•d to affg¢t th• ch8rf11gs #ctmtth trad• throu9h th• wbKgry Alfrekn HalL Afreton Hall a grdde 2 buikling is by the ch#nty us•d for traSning In hoxpltallty arbd catenng. Its 4cbvihes 8re primarily wedrfjngs •ftd Sadty the Gov•rnrrent [eStdGon5 on wéddings and 94thering6 Oty affected tho busingss and M8 ctrIbUtIon to thÈ chanty Thi5 Impa¢tod upon incATh ind 8•dly dTriniThJ rn8oufc#. ThLry has given rise to th8 Board consiaerng ib opts'ons in relaining the ass•t It 13 swn9 thé priority to r8iuTn to flrsi objeee$. The chanty fothnatety has consldefable v•lue in Its asget of Several huntt Ihou6and whiGh rf rekeseiE woulo be inve5t8d In obJp¢UveB scr8 the area. This 4$10n Is under nstant r•vw going tnto 2023. Thè decisim of the Bo was ne to sell AJfre Hall and tsjncentrale on restructurin9 r•4nvng in Its key ob8$. Chn"os re appoint&1 to rn3fk•t the prgnYs85. The comiry years wlll brlng unprecent•d stresses on fam511e5 aThJ buBinesse8. The chartty had athys ught to SeustaInzbl• from Sts actfvtb'es. In th• lafeW years trLI fDuTrJ thh thalbnged, the Bam8 35 other businesses. Abeit busj'nw ks retLng. ts ctharty must etfi5pA is thè bègl u88 of Its resources to fvffil ts ctsrty obpths. ForbJn3t¥ly. the tharNy 9oes Into th• y•v wilh ad4u•(e rp¥epns and the []0n alMS Ihe Boaffl io Invitè now and gffK•rg. e thank thos¢ who ffflie the and ts $ubsbkny dwirYJ th8B8 dIffilt years, mthry ol Whorn have Wed lryyal for mny yoarn.
Genesis Enterprise Foundation ompdny Llmited by Gudrdntse ratsn Ttuilth, Innvil ftGport [InGoy i the Directorfs Report) Iconffnuthl Year ended 31 D8cember 2022 Flnancial rnvlew R•sep48• Ptsl The charlvs FdlGy l• to hold thrw rnnlh'¥ ¥FdItl• m fr¥• Not• 14 to the acotsunts disclLBes Ihat unTestrkted Im r¢SS al the of th? y¢8r aftuntl to o¥trr £809,C()O. Howev8r, fre6 unrestricbj net CUffÈnt assets Gontsnue ID be bw. The Trustees continue lo work to strengthen the re88rves p3Sf(K. Wth the rrwl>)n8d factOTY layt year the tharty contsnues to operate In an uncertain business environent but in with other trird sector org8nisab"on$ as a b)8rd ol Trustees we nts'nUe lo work dos&y with our management teams to ensuip the ongoing Vialty Qt al OUT commor¢lal gnl8rpris88 by eXring innovab¥• ways Ferfom)Bnce whi18t $tr"Il aehi8vinG our care •irns Bnd tsbJeth•8. Thè b08rd have rnde drfIt d1810 dunng ihe year The chalkngeB CljnU to Impact thg tfdding Aubsidlgry Alfreton Hall Ltd whh Is Ehe main c4Jntritiul(¥ ol fundinll. 11 has begn decided by Ihe diroctorn to sdl Alfroton HAII (valLd at £1.4 milhonl thIllh Chfhtkt$ 8nd ye tho equity Into key oblecb'ves. Th& bgnk and key st8kehDbJern am Infom and to datg hav• b•8n supkortive ol thes• Key decl$k¥n$. In ¢ug cours• pcffjl a Iw)• wll be Fohy off 8nd rèsth188 feAnveBt6d In the Chafllb6 objglives. 8m•Jl company provl•lon• Thi% report has prepared in the pr3[01 éOthble to compan188 enuued lo Ihe small ¢ompanies eyemwon. The truslee8' 8nnu•l report WAS spy1 on .&..A..20IS and Hgrrtl on thalf of b)8rd of trustee6 by". P HcJgkJn80n Trustee
Genesis Enterprise Foundation Company Llmited by Guarantoa Independent Examiners Report to the Ttats of Genosi8 Entorp6 Foundation Year ended 31 DeGember 2022 l to the bwstees on my &¥aryinalion ol the tsncwl Ststets of Enterpri Foundation th2riV) fDrth& yw ended 31 Deewnber 2022. RMponslblllll• •nd IMsl• of rgport As tho trustees of the compBry {arhl akn ris d1r8clo for the of fx)mpany L8wl you arn responsible for the weparaOn of kne )Inanckl $12twnits in (¢8n with tha re9uir•tNnts of th• ¢omp8nles AGt 2C¥JO Ilhe 20( Acyl. Havtng s8Usffed mysem Ihat the aecounts 01th8 ciyrpary are not r•qulr•d to b• audw under Part 18 of the 2006 Act and are for indewd8nl &Yaminat#. I rBPOrt in resport of my 8xa4110n ol the chaty'$ 8ccounts •$ carried out under seclkin 145 of th8 Charttles Act 2011 (e 2011 Acv). In carrying OLrt my examinTon I tkn fofb)wed the DIh0$ 9r¥w) by the Charty Commissth undar section 145{5)Ibl ol the 2011 kL Indep•nd•nt ox•min•f• 8tment wlth tho ex8minalion gfrffio c8u¥• tt) Wwe: ac£ouftting rots)rd8 w•r• not k8pt in rwpoc of the ¢harity r•qulred by I•UJon 886 of the 2Artor finanwl strIts do nrA occord rK<Yds; ¢x th& finats1 slat8mènts do not coryty with the •crn11n0 requlrements of Section 396 of the 2006 Act oth•f than Y r•qutr1 Ihat the acctsjnts grvfv a'truo and tale view Whh not a rmtter eonsidw•d as Fwiofan Indw8nd8nt examinatb', or th& finan¢hl statsments IVe bMn prepW kn a(v)Td8rta wth the mathtsJ6 and prfnclples ol the Statejwit of RecomrneTrJ8d PrlK8 tr wuntlng and reporlng by charrbes #ppficable to chaTitss prerAring the accwnts ift a¢0)anCe wlth the Flnanual Reln9 Slandard applkaL4e o) Its UK 4nd Repubk ofIrekr IFRS 1021. I ha no corKern$ and have o)me mattws In LntI¢t 6XaTrrinab'on to Which attent 5houhJ bè drawn in thi5 reoc41 in ordar to •n•bl• undor8tandin9 of tt nts tt) be reach. Anthony Harrkg IndepènsJent Ey2mi ye05 Acctyjntarw Lfrl Durh8m House 38 Str Lan8 Uriiuy Derbyshire DE5 8NE
Genesis Enterprlse Foundation Gompany Llmited by Guarantee Statsment of Financlal Actlvltles Ilncludlng income and expendlturg account) Year ended 31 DeGember 2022 2022 2021 tunds folal fund¥ Totsl fvnds In¢om• and èndo•1¥ Ch8rftab a¢tfvStl8s Investrnent Income 28,479 29 26,479 85,292 Total Inc<x 26.S08 26,508 86,300 ExndItUr• Exp4nditur¥ on ralsÈng fvnds". Costs of c4her trading 8cbviti88 Expendiwre on charitable &tivrtles Total •xp•ndknr• 3.284 3.284 17,293 177,774 87,952 87.952 195.C67 Nel ewndllur• and n¢t movem¢Dt kn fvndj le1.4441 161,4441 1109,7871 R•¢onclllJlion gt fund? Total fvnds brought lorwaT Total funds CrId forwird 370.907 370,9)7 309,4fj3 480,075 370.9Q6 309.463 The ststsTrnt of financlal aGb¥it Inrjudes aH gain8 and los nwnlsed In the yeèr. Ail Income ond expenorture delive from conlinuiThJ aCtfvit$. Th• nat•• on p•gw g to 46 fonn ofthtr411rnrtlal *14t•nwnl•.
Genesis Enterprise FOUndaOn Company Limited by Guarantse Statement of Financial Posttlon 31 D0Mber 2022 2022 Flxed assets Tangible fLYed &ts Investrtwits 8&5.551 875,7Q7 885.552 875.798 Current a•ty D8btors C8sh bank and In haTra 10 57.908 30.258 88.168 40,848 151,648 192,344 Cr•dltor4: amounts falllng du• wlhkn one ymr Not ¢urrnnt 48ets 11 37,412 B5,114 107,280 983.078 50.754 Totsl a880ts1•g5 eury•rt Il•bllltto• 916,3( Crgdltorn: anwunts t•lllng ttue all•rn than ono y•ar 12 ,843 612,170 370,908 Fund¥ ofth• chthrfty Unregtrkr•d fvnd$ Totsi crity fund• 309,463 13 309,483 370.906 370.908 F the year •ndlro 31 D•Canr2022 tha thjrty was to m"On from audli under ¥tiOn 477 ofth• COMnI¢S fv£t 20Ce r•l•ting to srol c¢mpgnlo6. 05r•¢tors' r•6F¢n81blThJes: The members h8¥8 not r•quThJ the cyxnwiy to obtain an audftot ILq statomwrts forlhe year in questton kn wydan(¥wih 478,. Tho directors acknNledg8 th•w roBponsO)Ilffaes for wlth tha requtremenb of me AGt wrth respect t¢ acr>Junting rttorts and the weparation OffirWKi ststents. Thosa finanelal 81kt¢rMnts h¥ve bo•n prepared wbh the yo¥k applwable to eompanle8 sJbJ•* to thè $malt companfes. rnglme. The statement of financial position Continues on the following page. Th• rth M pa g to 10 lonn part ofllw8•thMndal sl&tem•nts.
Gen15 Enterprise Foundation Company Limlted by Guaranta8 ststement of Flnancial Posltion 31 Dacomber 2022 These finanaJ slatements We apwoved by Lard of trustees and authorisod lor issue on G.l¥k..WaThl are gned Dn behalf otlhe k<ord ty. M P Hod9kn8L Truste? Th• not¢8 on paggj 9 ID 16 lorrn part dth•80 nrAnci*l •tytwn•n
Genesis Enterprise Foundation Company Umited by Guarantee Note8 to the Financial Statement8 Yoar ended 31 Dec8mber 2(r22 G•n¢rdl Inlornmt The tharKy is a publ tjeneft entity and a prN81e Company by guaramee. ragistsrod in England ano Wath and a r8gtstwEd tharty kn England and Wales. The •Jdre85 of Ih regiStsd offic• AfretDn Hali Chwth Stre< AJlrBlon, Oerby8hir8, DE55 7AH. stat•m•ntot ¢omwi4nc• These finandal Statements ha twi prepar•d in uJmty&nce with FRS 102. Tr Finandal R•portlng Standard •ppSic8ble In the UK and the Reput41¢ of Irend.. tho Statement of Reeommonde¢Y Practhce appli¢2ble OJ ch8rths prepathg Oir Kcounts In 8c&Kdan¢e with the Financ41 Reporting Standard appli¢ in the UK and Republ of Irdand (FRS 1021 (Chari¢i8s SORP IFRS 1021) and the CtyryJ•nies Act 2(KJ6 Ac¢ountlnq poll¢l• 8•81• ot prnp•rntk+n The financi81812t8rr Imve been prepad cfj th8 hBtoried c¢qt 88 modffied by the revaluatK)n ol certn Ilnanci assets an(1 liabditb8 arKI lliv0strtt prop•rb8s me8sureo ai falr vdue through income or exrwKIrtu The flnan¢tal statèmorts 4r• prepa In vthiGh is the (1 currww of the antty. Golng cpnc•rn FuTrd ccountlng Unrestn'thd fvnds ar• •v8lbJe for at tr dth¢xab of th• trt•98 kn fvrthw any of tho charty's purp¢8es. DeÉignatsa fiJnd8 • uni#tricW fiJnd• trust0 tr fubjre project or mm¢trrent Rèstrict•d funds are $ub)eci8d to on their expwJ(rtlure ded8red by the tnCr or Ihfough the tem of an oppeai and fall into e of SU5. r6stricted Incom8 funds or endow fvnds.
Genesis Enterprise Foundation Company Limitod by Guarantee Notss to the Financial Statemonts (¢fthw0 Year ended 31 D¢camb•r 2022 A¢countlng policlw incomlDg All incoming r850urc8s are Ind in th8 818teffnl of aciryities when entstlemant h85 to tr)e eh8rity.' rt i% probable that the ecoTh)mK t4n8fits ass(Kknlled the tr8nsacuon will ffow to the th8rity and the arryJnt rxn b8 reliabty rwsureil The folkwing 3pocrfi¢ policies are applied 19 parkuL3r c•3orie8 of irmmg." Income fr¢xn donatiS QT grants ts regnised Wh trwe is e¥ence of entitlement to the 91ft. r8CWPt Is wTrbable and its amunt can mÈ8sur•Y reliably. acy in¢cm8 Is Éed rx•yt &% probabl8 8nd éstsblished. Inccrne from dongted gotsds is m•asuie<l at th8 lair value of the goods unle83 ihis is Imw8Ctical to measufè relHbty, in case the value Is (1thed from the wt to Ihe rjonor or the estimated resale value. tknated facilrtreB and s•rvt86 * reG¢gnised in tho 4ccounts when recdved rf Ihe v4ue can b8 rdlably rneasu. No arnunts a included for the rAJntributkn of ger ¥Unts•. lrtorre from contr•¢ts for tha auppty of servic99 IB rBcognls•J with the ddniery of the txtracted Thi& 16 cLa8sffied ¥ unTr5trict8d fvnd8 UTrt8gS thwtr Is a Eontrxtual rgqUinnt for it to be 8pènt rjn a p8ituJar purpose and rtslurned if unspgnt. in whth case R6•our •Xld• ExperKJitwe Is recogn15ed on an accTLtrals b88ts as a liablty18 In¢irn Expenditure iA¢luYes any VAT whSch cannot be fijlty r&xvered. and is Cl¥Ssrf 14rKl¢r ho•Jiws of th8 Statem1 of ftn8n¢lai ¥KtNits lo) whth Et reLalo5: expandituie on r8i8lng fvnds m¢lth1e8 the costs of all fur¥Jrwslng xlvltl•s. 8yents, non.¢hgrftabk trad1 trI19. and th• salo ol drthbj gooJG. &xFendrtuTe on ¢hariiable actNitss Includes all costs inoJTred by a charity in undertaking a¢tMlles that lurtner its tharitsble aim5 for Ihe benefit of ts beneficianes, induding those support Costs and Lx)sts TeLglt'ng lo the governanee ot thè charity apptsrtionel to Charitable cthèr expendiknre includes dl ewdrture that ts nertrter r6Lat8d w Mlng fundj for th• charty part of rts expendibjre on AFI Costs are allocated ID eypen(Ature ¢oMoth T811g¢1ing the LW of th8 re8oury% Direct C08ts atlr1butsb to a single acbvffjf are 31tha direcly lo thal actNty. Shared costs are apptsrtned betr8n thè th•y conthbute to on a raasOnall ju8ufoble and corw6tht boYIJ. Op•rnUng lèaJe8 Lease YMts Bre recognlsod as an expansè over the ta8so éfm ¢)n 8 straight41 b85i8. The aggregaro bÈnefft o* lease is rnc4)gni50d a6 a rwJuctb)n to expen¥e over tho lea¥e te, on a 8tralJht4nè bas. io.
Genesls Enterprise Foundation Company Llmlted by Guardntea Notes to the Flnancial Ststem•ntB Year ended 31 D8¢omber 2022 Accounting poll¢l•s (c4XI T4n9ibi& assets Tangible aSBety are inPdaW re(y)rded at crrt and subs4u stated St eost le$8 gny ccumubte(I dgprectation and Impalmwrt los. Any tIble assets C8TFled •t arnounts are r¢corded * tsir vakne at the dgts of rwdluation less any $ubwuent accumulated deprec#ath)n aThd subsequent ac(wmulaled inwairnHrt kweg An In th• amwnt of An #58et a8 a resuR of 8 r•valu4tion. Is raeogni69cI in other recognlsed 9ains and 1088¢5. un3 il rBverses a charg• for impairrTK•nt th8t ha8 previously bqon recognis8d Js exp8nditure wtthin the ststerwi offinatiu athitye& A deGrea4e In c8rryfng amount of an 8sset as a fesult ol revaluat)n. is rwni88d In othw TBGrgned gains and losses, excèpt to wh¢ch it offsats èny PmiOLts revaluat gain. in case the Ios8 is shown within Glhèr recogni£ed oains ar on tha ststenwt ot Ilnamal •aNjtie& Dopreclatlon Depreclon cakxktad 80 as to wffte off the ccét or v41lrA of 408rt I It¥ resk11 vaiLO. over tr0 8J1 econ1¢ trfg ofthat asset as folk. Freehold PTOP2rty FIxtU and Illts'ngs 1% strayht li1• Inv•¥tmgnts Unlisted equlty investrn2nts arn intlJ81ty r•cydtyJ •t oyJrt ana subsequw nw8ure4Y at falr valw. If fair valuè nn01 be rdlabty rraJur8d. assets e mOB$ud at rA)8t1•88 impRim)onL Li$t•d Invknts m•a9ured at tsr value vlh tharw In falr ¥u6 b•kng rn[S•d In 1ftM or ¢xpendRure. Inv•#tmwts In aMo¢l•tss iesj any mUth irrp•wrrwrt b8S•8. Investrnents in a5so¢iats8 accounted for in aoxrdanc¥ the fair ¥abJe Me1 are initial recorded at the transathm Ce. At each retrting date. the Investrnents are measured al fair value. chong8s in value taken through iro)wo (K 8XWdnure. WhÈre it impra(Ikablo to •Ure fwr vak rellabty wllh)Jt imdu8 cosl or•fft>T( the wm ba adopted. Divldends and other dthbufy)ns rred from inve5knent rwnlsed as tr]come wlthout ard to ther Ihe di8trlbutsons •To from mlat•S prpfits olthe ansing bèfor• or Iftar Ihe ofa¢qwiUon. In JolntiTntuns Inv6stsTw)ts In jointy conlroll•d enltt* x(thnt•d cryan¢ (>)st ar8 -11-
Genesis Enterprise Foundation Company Limited by Guarantee Notes to the Flnanclal Statsments (¢Mth¢•• Year endod 31 Dècember 2022 Aceoynttng policks (¢< lov••tmont• In lolnt v•ntUV••Cs•nthw¢J Investm?n18 in b'nty Colltrollod ertths nted for in ryJan wth the ktT valu8 model are Inthlty r8¢oryJed at the knnsaction prtt. Al each rewxting date, tha investments afe npasured at fair value, with changes In lair value tsken Ihrough incomg or expenLlibJre. )thèra It ImpractKabie to ff8SUTe laK ¥ue reliabty witl)out unduB or effort the u)8t mc#lal will be 8doptgd. Dtln8 arKI other olsithutions fee81v from the inveslment arn rwn189d aB Incom8 wrthout regard to whether tha di$lribuUonB arn from anlIated proffts of the 1n1 venturn artsing belo or after thè d8te of acquilitign. Imp•lrniont otflx•d a•8• A review ly IndIcato ot IM[nt Is txried at each reporting dale. wlth the recoverable amount being 8slitn8led where $jID[S exrst. ere the earyirwJ Val exca•d$ tho recover8t4e amount. the asset L8 Irrpalr aceordwNty. PrtJr imp¥vment8 8r8 8160 rovtew8d for F<)ssiblo rev•tsal at aach Tekxirttng dats For the puTroaes of ImFairrrthl tostsng, when it 18 not ID e8tlmale the recurtr8bte arnount of an individual a5Be[ an asbmate Is ma¢ ol ihe recoverable amount ol the cash%8nwattng 11 to whh Ihe assel belongs. The ca6weratrng unil LS smllesl Identsfi?b group of 8sgets that Indudes th• asset and gener4t8$ cash Infiows th81 largely Indepond8nt ofth• other aFsats or grvJJp8 ofa$5ets. For impairment testirq ol gw1%71, tha g(K>SwlM acquir8d in a business comb1r+aO Is, frorn tho ulsitk)n date, alkxated * ea¢h of the 13sh-ganefatirn3 unifs that arE expected to nefIt from synorg¢e6 ot the combinaiknn, of whether othw aswts or liab51ill&s of th¢ ¢h8rily afe a$8i9ned to those unlts. FlnAnel•l In•trum•rt• A fln8ncHI 8sset or a fin8ncko1 rHbil1 is onty Wh the (8rlty borneS 8 paty ta I )ntrackn81 provtsK)ns of the instrunnl B88ic Ingnolal instNents are inkY TOC4)gnwwJ at the Unt recefvable or payablg IncdIng ony rl¢d co5. Current Bs$•ts and currnnl 11ob¢kli68 8r8 subsequ1 Trwsurtd Bt the ca¥h OT oiheT consid918tyon eXptj to be pald LY and di5courrt•J. Debt instrumonts sub80qu¢nUy mopsured at 8rmrtirf ¢>JgL ltheie inve5Lnnts in shares are publicty traded Of thr 14ir value Gqll Othe88 be measur& relkbly, Ihe Investrnent IS 5ubsequenty measured al f8w vahje wth changes In fair valu$ ognlsed In In and e¥kwd. All othef such investments ¥ubsequgnlly mea8ursd at cost less unpairmanL -12-
Genesis Enterprise Foundation Company Urnitgd by Guardnlpe Notes to tho Financlal Stateinentsi Year ended 31 De¢embor 2022 A¢countinB polkks Flnanckl i11stru (¢ c)ther fina181 instruments. tr)cluding dwpmbv8s. We [njtity rEW3nlJ ai falr vdue, unl86S payrrt tor an assat Js tJeferred tworKI norrrd bLwEess temLS or finarted at a rat8 of Inter•st Ihat a market rate, in w9• tha asset is ThEasuraJ at thè fv8nt value of tha luttwo payThrrts drseount8d at a ret Rte of interest for a Srrilar debl InstrurnL Oth8r finan1 InstrunwrtB are 8uLwL• rur•j * lair valw. wlth any ¢hang•s recogni58d In stmenl gf firwNJal thiies, wjth U)e of h&lng Instrumtr in a designated hedging relatlonshlp. Flnanthi aasets ttjat are measured at cost or cost are r8¥iv4nd for Ob5tiVe ewdènce ol impairment 8t the end ol oach rEporfing If t18 Otive eywj0n Df Imparn( an Impalrmenl loss Is reeognwd under the •ppicF¥f Wing in the statement of ftnan¢lAI a¢OvltIe3 In whth th• inloal gain r•cognW. For all w4uMy in$truffts rtsjardkn of 8&nlfvrKe. WKI other fmawal s¢ts that are indNidvally 819nJficani these are assessed indrvKluafty for impaim)enL othor flnenLYBI 03oets arB èither ass•ss&a indivK1ua(ty or gro(FpwJ on thè t• of4imil¥ (Y&Ytt Chara. Any r8verWs imp81rrnènt we rwnwd InvdiA. to tho &thnt that the f#versal does not resutt In a caryino arthnt thè ftnanek•l a588t thèi exefj•Js what the rarrying amount woukj Umtt•d by guarnnts• The charty Js a rnpartY limiled by guarant Tho of th• c¥mrAny ar• thé Tnjstaeg naffd ¢)n p8ge 1. In the gvant ol the charity telng nund up, Ih Iwibility tn rgspe(X of th• guarant* Ls IlmW to £Nrt per rMnknwofthe charoy. Not •xpondltur¢ Net expeThYituro l# 8law aft•r chqrgirW(uethng1" 2tr21 DBpre¢iation of tan9ible ffixwj Operats'ng IEase rents16 10.246 85 18.436 7,012 2021 Wa9Q8 ar¥J salari 14.797 15.872 Thè 8¥erage head uAJnt 0110y during the yew 212021: 2>. No empwee ol nwe ItrAn £60.OW during the year {21r21. Ml). -13-
Genesis Enterprise Foundation Company Lirnited by G4rantee Notss to the Financlal Ststements Year ended 31 Decernber 2022 Tru8t¢8 remuneratlw and No r8murffjrntk)n or other benel(ts from eny10ynI the carity or a olattyj enb.ty were retsved ty the tru$tPg5. 8. Tanglbl• tlxèd •M•ts Freeljold Fixtijrns and filJsn98 Total Co•t At 1 January 2022 ahd 31 D•c•mb•r 2022 D•prè¢latloA Al 1 January 2022 fur the year At 31 De¢•rnb•r 2022 1.024,561 169.243 1,183,804 148.764 10,248 169.243 318,007 10,246 328.253 159,070 169.243 Carrylng amount At 310•c•mber 2022 Al 31 fctmb8r 2021 865,651 875.797 e6&551 875.797 Inyostmgnts Shar90 In roup ndertaklng8 Colt or valuatlon At 1 J•nu¥ry 2022 •nd 31 D•wnb•r 2022 Impalrnignt At 1 January 2022 and 311)K•mb•r 2022 ¢*rryln9 amount At 310ocembtrr 2022 At 31 Oecember 2021 All Invostrnents ShlM ato¥e are hebj al vgluaty)n. 14_
Genesis Enterprlse Foundation Company Limited by Guardnteè Notes to the Ffnan¢ial Ststements Year ended 31 Deeembar 2022 10. Debtors 2022 2tr21 Trade dsb Amounts ow&1 by group Urt•n9# Prepaym•nt8 and aLvu8d In Other debtors 5.708 47.6th8 4,071 523 10.460 22209 8.177 40,846 11. Cr•ditoY: mounts ts19 due Y•llhln ¢)n• lf 2022 2021 Bank loans and overdra Trade Creditors Amounts owed to gro1 undertakkngs Accruals and defeffed Incorr* Social security and otherla 5,724 8,214 15.678 3.660 834 3.302 37,412 5.398 11.492 55.900 4251 1,228 8,840 8S.114 12. Cr•dJtots.' amounts hlllng du• •ftsr than on• ywr 2022 2021 Bank bAn$ and overdraft8 612.170 13. An•ty•lw ol ¢harftablo lund¥ Unr•¥trlet•d fvndfj 1 Jonuary 202 Incoffo Expendllure 31 D•cember 2022 UnT¥Strthd fvnd8 370,W7 187.952) 3Q9,463 l Januyy 202 At 31 O•cber 2Q21 Incorn Expendttur8 85,3(M) Unrethct&J funds 4eii,675 {195.06n 370,908 -15-
Genesis Entsrprise Foundation Company Llmited by Guarnntst Not8S to the Flnancial Statements (¢ Yoar ended 31 December 2022 1& Analy• of nei •¥ts botwe•n fund• unrestr[G TolAI Fund8 Funds 202Z Tangible fred 8ssats Investments Curronl assets CdDr$ $3 ih8n 1 year Creditors grtrator than l year 885,551 885,561 88.1 88,166 137,412) 137,412) 1fj06,8431 1606,8431 309,463 309,463 Unre8trlc*ed Totsl Fund8 Fund 2021 Tangible Iixed assets Investrngnts Current assets Gredftors less thBn 1 year Cred¢tors greater than l year 875,797 875.797 192,3PA 191394 185,1141 185.1141 (612,1701 1612,1701 370,908 370,908 16-
Genesis Enterprise Foundation Company Limited by Guarnntee Managementlnfomiation Year ended 31 December 2022 Th• fDllowlng pa9•• do not fomi p•rtof th• Iln4neial •latem•nt¥. 17-
Genesis Enterprise Foundation Company Limited by Guarantse tailed Statsmont of Financial Actlvities Year ended 31 Dacember 2022 21ll2 2021 Income and eTrdowments Charitabl• artlvlti98 Rent and room 9 Sundry incorn8 21,600 4,879 39,100 48,192 8S.292 26,479 Inv•Jtment Incom• Other Inlwesi r8ceN3ble Total Irhcomo 26.508 85.300 Expondltur• Co•ts of oth•r trndln9 •Gtlvlll•• Bad debts 3.284 17.293 Expgndltur• on ¢harftsbl• •clfvM Wages and salaries 0raTr9 laase$ Ront Rates and water Llghl And heal Repair3 and malntenanca Insurance L•gal and prof•881DMI feB8 Telephone Depreciatton Intsrest on bar* lofins and ovordran5 Other Iradiftg èxpenses AtntnCY f¥es IT Mainlenaftce Bank charggs Priftllng. postage and slabon•ry 14.797 85 1&872 7,012 41,899 418 4,172 10.238 16,808 8,057 872 18.437 44.889 1.330 6,950 1.931 825 218 8,031 7,582 1D,246 39.576 331 1,635 1079 407 84,868 177,774 Totsl •xpndltu 87.952 395.087 N•t 0xndItUr• (81.4441 1109,7871