OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

The Trustees remain committed
to a policy that the charity		 The Trustees remain committed
to a policy that the charity		 The Trustees remain committed
to a policy that the charity		 hold unrestricted hold unrestricted hold unrestricted funds (excluding funds (excluding those funds
represented
by fixed assets (sufficient to		 cover):
Contingency
fund to cover 6months'
organisational
running		 costs/income was
to cease. (excluding
the Enterprise Factory)		 135,909
Contingency
fund to cover 6months ofrunning
costs ofthe		 Enterprise
Factory		 44,708
Total Unrestricted
Funds (Contingency)		 5180,617
Designated
funds have been established		 and agreed by the Board ofTrustees at the following levels:
Redundancy —potential
redundancy
payments
costifthe charity were to be wound		 up 13,881
Property sinking fund to meet the annual repair and maintenance costs ofall buildings
excluding
the Enterprise
Factory		 22,500
Enter prise Factory contingency
fund to		 cover a further 6 months running costs of the
property
until asale has been completed		 44,708
Enterprise Factory Property Repairs/Upgrading
Expeaditure		 required within the next
12months
Investment
Fund for longer term holdings		 —to generate earned income (bank interest/property
Rental) to support Community
Charitable		 Expenditure 850,000
Total Designated
Fund		 8956,589
Total Reserves Policy Designated X1,137,206

VI O Vi Co tn
D CC
gQ		 co
00		 o
ca		 M 1 Co
'D
m		 O
Vl
CD		 00
'D
O		 cn
CC
8
'g		 g O
Vi
1		 CC
Vl
at		 ' O
CC
Vi		 ca 00
00		 tn
O
o		 00
ao
VI
00		 t I 'D
ao
lo M ca 00 00 o
OC Vl CC P. Ct cn
M
D CA Pl 00
l		 Ct O O
n		 OC
Vl		 O D
o
Vlo		 moo
mrn		 l
o g~oaa cEcc 00 M
cn CC
cn ' o O O
CC
Vl		 o cn 00
ao l ~CI
g Oa
O
'D
l		 Vl 00
Co		 Dl M
tn		 00
M		 l 1- Co O
Vl		 O
o		 o
lD		 cn
O
Ct P UO
CO
ca		 lD
00		 OO Cl
Vl
'D		 O 'D c
ca		 O
cn
VI
5
A
jj
CI
g
'A
'A
I 4 D
U
DO
WD
D
D 0 all
Oa A g ca
AD
AD U
i5		 4
f
P.

2023 2023 2022
Notes f. f
FIXEDASSETS
Tangible fixed assets
Investmcnts
Investment
Property		 12
14
13		 1,004,021
250
350,000		 2,670 i)31
250
350,000
TOTAL FIXEDASSETS 1,354371 3,021,181
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand		 15
16		 500
65,163
1,376,032		 500
1155t99
118,728
TOTAL CURRENT ASSETS 1,441,695 235,227
CREDITORS; amounts
falling due
within one year 17 (87,622) (189,205)
NET CURRENT ASSETS 1,354,073 46,022
CREDITORS; amounts
faUing due
afier more than one year 17 (25,811) (135,420)
TOTAL NBT ASSETS 2,682,533 2,931,783
THBFUNDS OFTHE CHARITY
Unrestricted
funda
Designated
funds		 53,405
I,137406		 1,190,611 (227,049) (227,049)
Restricted
funds
Restricted Fixed Asset Fund		 137,651
1354371		 1,491,922 137,651
3,021,181		 3,158,832
TOTAL CHARPIY FUNDS 18 2,682,533 2,931,783

2023 2022
Notes f,
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating
activities		 20 (457,119) (39,898)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment
income		 17,959 17,520
Purchase oftangible fixed assets (17,188) (23,695)
Disposal oftangible fixed assets 1,713,652
NET CASH PROVIDED/(USED) BYINVESTING ACTIVITIES 1,714,423 (6,175)
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 1,257,304 (46,073)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 118,728 164,801
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 1,376,032 118,728

3. INCOME FROM DONATIONS INCOME FROM DONATIONS INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted Total
- CURRENT YEAR Funds Funds Funds
2023 2023 2023
f f
Donations 760 760
-PRIOR YEAR Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
Donations 4,497 750 5,247
Government grants 73,619 73,619
78,116 750 78,866
4. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted Total
- CURRENT YEAR Funds Funds Funds
2023 2023 2023
Grants 17,929 17,929
Rental income and service charge 237,491 237,491
Room hire 22,181 22,181
Green bikes/Thetford shed 1,993 1,993
Recharges 22,556 22,556
Miscellaneous 1,894 500 2,394
286,115 18,429 304,544
-PRIOR YEAR Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
Grants 71,452 71,452
Rental income and service charge 235,357 235,357
Room hire 22,825 22,825
Green bikes/Thetford shed 4,297 4,297
Re charges 27,510 27,510
Miscellaneous 1,390 1,390
Facilities management (Brandon) 134 134
291,513 71,452 362,965
5. INVESTMENT INCOME Unrestricted Restricted Total
- CURRENT YEAR Funds Funds Funds
2023 2023 2023
f,
Rental income - StJohns 17,520 17,520
Bank interest received 439 439
439 17,520 17,959
- PRIOR YEAR Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
f
Rental income - StJohns 17,520 17,520

6. INCOME FROM OTHER TRADING ACTIVITIES INCOME FROM OTHER TRADING ACTIVITIES INCOME FROM OTHER TRADING ACTIVITIES Unrestricted Restricted Total
- CURRENT YEAR Funds Funds Funds
2023 2023 2023
6
Cafe 1,810 1,810
Conferencing 24,072 24,072
25,882 25,882
- PRIOR YEAR Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
Cafd 1,198 1,198
Conferencing 12,224 12,224
13,422 13,422
7. EXPENDITURE ON RAISING FUNDS Unrestricted Restricted Total
-CURRENT YEAR Funds Funds Funds
2022 2022 2022
Cafd
—food		 495 495
Cafd - other 103 103
Conferencing -premises costs 2,286 2,286
Bikes and sheds 394 394
3,278 3,278
EXPENDITURE ON RAISING FUNDS Unrestricted Restricted Total
- PRIOR YEAR Funds Funds Funds
2022 2022 2022
Cafe - food 479 479
Cafe - premises costs 228 228
Cafd - other 159 159
Conferencing - premises costs 224 224
Bikes and sheds 808 808
1,898 1,898
8. ANALYSIS OF EXPENDITURE BYACTIVITIES Activities
- CURRENT YEAR undertaken Support Total
directly costs funds
2023 2023 2023
Charitable
activities		 414,211 268,567 682,778
-PRIOR YEAR Activities
undertaken Support Total
directly costs funds
2022 2022 2022
f,
Charitable
activities		 317,272 242,329 559,601

ANALYSIS OF DIRECT COSTS OF DIRECT COSTS OF DIRECT COSTS OF DIRECT COSTS OF DIRECT COSTS OF DIRECT COSTS Total Total
Funds Funds
2023 2022
Staff costs 125,183 150,682
Rent, rates and utilities 166,545 118,120
Premises costs 81,757 48,995
Insurance 19,175 17,581
Repairs and maintenance 28,630 16,262
Technology costs 11,589 11,551
Other direct costs 1,747
Travel costs 2,078 849
Advertising 350 739
Stafftraining 827 28
Vehicle costs 3,718 3,399
Profit on revaluation of&eehold property (43,100) (62,738)
Depreciation 13,547 11,804
Sundty expenses 2,165
414,211 317,272
ANALYSIS OF SUPPORT COSTS Total Total
Funds Funds
2023 2022
Staff costs 105,000 130,000
Finance and professional fees 96,981 44,718
General office 36,026 45,792
Communications and IT 15,055 15,694
Governance costs 9,660 2,243
Postage and stationery 5,845 3,882
268,567 242,329
INDEPENDENT EXAMINER AND AUDITORS REMUNERATION 2023 2022
f,
Fees payable to the charity's independent examiner 2,500 2,000
STAFF COSTS 2023 2022
Wages and salaries 217,283 265,286
Social security costs 8,546 9,922
Contribution to defined contribution pension schemes 4,354 5,474
230,183 280,682
2023 2022
No. No.
The average number ofpersons employed by the charity during the year 15 18

00 00
00		 0C
Vl		 O
O		 00
00		 VI O J
0		 M M 0I O 00
C M W" M" 8 0I '0 rc O
rc
C0 Vl Cl
CD M
I' rC
QC		 rc
Crc		 M
O
O VI
rQ		 Vl
O		 VI CI
Cl
40 g
0		 4C O rQ rC O
0
M
M		 Irl
M		 CI O
00
Irl
Vl
Vl		 rc
Vl		 o
O		 'ct
0
A		 QQ
M		 O 0
0C
CI		 M 8
4
0l
rQ		 C0
VI		 04 OO
0I		 0O
M
C4

INVESTMENT PROPERTY Freehold Freehold
Investment Investment
Property Property
2023 2022
VALUATION 6
At 1st April 2022 350,000 350,000
At 31stMarch 2023 350,000 350,000
VALUATION
At 1st April 2022
At 31stMarch 2023		 350,000
350,000		 6
350,000
350,000
The 2022 and 2023 valuations were made by the directors with reference to the relevant sources. The
values are fair value, based on open market value.
14. FIXEDASSETINVESTMENTS Unlisted Unlisted
Investments Investments
2023 2022
COST OR VALUATION
At 1st April 2022 250 250
At 31stMarch 2023 250 250
The investment represents 250 ordinary f,l shares in Foundation f,l shares in Foundation East, a not for profit organisation
operating across Suffolk, Norfolk, Essex and Cambridgeshire, providing support to businesses,
social
enterprises
and		 individuals that cannot get a bank loan.
15, STOCKS 2023 2022
f
Raw materials
and consumables		 500 500
16. DEBTORS 2023 2022
Due within one year
Trade debtors 31,643 90,494
Other debtors 12,252
Prepayments
and accrued		 income 21,268 25,505
65,163 115,999
17. CREDITORS 2023 2022
Amounts
falling		 due within
one year:
Trade creditors 36,557 94,032
Other taxation and social security 906 1,888
Other creditors 603
Bank loan due in one year 10,648 10,644
Accruals 27,444 39,487
Deferred income 12,067 42,551
87,622 189,205
CREDITORS 2023 2022
Amounts
falling		 due after I year:
Bank loan
Due I - 2 years 10,648 10,644
Due 2 - 4 years 15,163 21,288
Due 4years+ 103,488
25,811 135,420

NOTE S TO THE FINANCIAL ST AT EM ENTS
2023 2022
Deferred income at 1st April 2022 42,551 13,539
Resources deferred
during		 the year 12,067 42,551
Amounts
released
from previous		 periods (42,551) (13,539)
Deferred income at 31 March 2023 12,067 42,551
Deferred income comprises rents for periods in advance and rental deposits held.
18. STATEMENT OF FUNDS Balance Balance
- CURRENT YEAR at 1st Transfers at 31st
April 2022 Income Expenditure in/(out) March 2023
UNRESTRICTED FUNDS
Unrestricted
funds		 (227,049) 400,857 (650,107) 529,704 53,405
Designated
funds		 1,137,206 1,137,206
(227,049) 400,857 (650,107) 1,666,910 1,190,611
RESTRICTED FUNDS
Keystone Communities 85,917 18,429 (18,429) 85,917
Keystone Resources 51,734 17,520 (17,520) 51,734
137,651 35,949 (35,949) 137,651
RESTRICTED FIXEDASSETS FUNDS
Children
and Youth		 5,453 5,453
Keystone Property 3,015,728 (1,666,910) 1,348,818
3,021,181 (1,666,910) 1,354,271
TOTAL RESTRICTED FUNDS 3,158,832 35,949 (35,949) (1,666,910) 1,491,922
TOTAL OF FUNDS 2,931,783 436,806 (686,056) 2,682,533
STATEMENT OF FUNDS Balance Balance
- PRIOR YEAR at 1st Transfers at 31st
April 2021 Income Expenditure in/(out) March 2022
UNRESTRICTED FUNDS f, 8 8
Unrestricted
funds		 (119,658) 406,732 (522,711) 8,588 (227,049)
RESTRICTED FUNDS
Keystone Communities 128,001 72,202 (72,202) (42,084) 85,917
Keystone Resources 41,933 17,520 (17,520) 9,801 51,734
169,934 89,722 (89,722) (32,283) 137,651
RESTRICTED FIXEDASSETS FUNDS
Children
and Youth		 5,613 (160) 5,453
Keystone Property 2,940,939 51,094 23,695 3,015,728
2,946,552 50,934 23,695 3,021,181
TOTAL RESTRICTED FUNDS 3,116,486 89,722 (38,788) (8,588) 3,158,832
TOTAL OF FUNDS 2,996,828 496,454 (561,499) 2,931,783
DESIGNATED FUNDS
A breakdown ofthe desiganted funds can be found within the Trustees Report in the reserves policy on page 2.
CHLDREN AND YOUTH

Unrestricted
19. ANALYSIS OF NET ASSETS Restricted Funds
- CURRENT YEAR Restricted Fixed Asset (inch Total
Funds Funds designated) Funds
2023 2023 2023 2023
f,
Tangible fixed assets 1,004,021 1,004,021
Fixed asset investments 250 250
Investment
propeity		 350,000 350,000
Current assets 137,651 1,304,044 1,441,695
Creditors (113,433) (113,433)
137,651 1,354,271 1,190,611 2,682,533
-PRIOR YEAR Restricted
Restricted Fixed Asset Um estricted Total
Funds Funds Funds Funds
2022 2022 2022 2022
f,
Tangible fixed assets 2,670,931 2,670,931
Fixed asset investments 250 250
Investment
property		 350,000 350,000
Current assets 137,651 97,576 235,227
Creditors (324,625) (324,625)
137,651 3,021,181 (227,049) 2,931,783
20. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM
OPERATING ACTIVITIES 2023 2022
Net (expenditure)/income for the period (as per Statement ofFinancial Activities) (249,250) (65,045)
Adjustments
for:
Depreciation
charges		 13,546 11,804
Investment
income		 (17,959) (17,520)
Revaluation
offixed		 assets (43,100) (62,738)
(Increase)/decrease in stocks (131)
(Iacrease)/decrease in debtors 50,836 (57,105)
Increase in creditors (211,192) 150,837
Net cash used in operating activities (457,119) (39,898)
21. ANALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022
f,
Cash in hand 4,359 332
Cash at bank 1,371,673 118,396
Total cash and cash equivalents 1,376,032 118,728
22. PENSION COMMITMENTS

At 31stMarch 2023 the charity had commitments
to make future m
cancellable
operating
leases as follows:-		 inimum
lease payments
under non-
2023 2022
f,
Not later than I year 1,800
Later than I year and not later than 5 years
1,800