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2023-03-31-accounts

Company number: 04407339 Charity number: 1097475

Ashford Place

Report and financial statements For the year ended 31 March 2023

Ashford Place

Contents

For the year ended 31 March 2023

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent auditor’s report ....................................................................................................... 15 Statement of financial activities (incorporating an income and expenditure account) ................... 19 Balance sheet ............................................................................................................................... 20 Statement of cash flows ................................................................................................................ 21 Notes to the financial statements ................................................................................................. 22

Ashford Place

Reference and administrative information

For the year ended 31 March 2023

Company number 04407339 Country of incorporation United Kingdom Charity number 1097475 Country of registration England & Wales

Registered office and operational address 60 Ashford Road, Cricklewood, London, NW2 6TU

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Carey Fitzgerald Chair William Pearse Treasurer Mark Fox (Resigned December 2022) Benjamin Kinder Asma Bennani Irfan Hemani (Resigned September 2023) Etheldreda Kong Karen Bateman Megan Gomm Key management Danny Maher Chief Executive personnel Bankers Barclays Bank 171 Cricklewood Broadway London NW2 3JB Solicitors Linklaters 1 Silk Street London EC2Y 8HQ Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane LONDON EC1Y 0TL

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

The trustees present their report and the audited financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The Charity's objects are the prevention and relief of poverty, homelessness and unemployment by the provision of advice, housing and practical assistance, the relief of those in need by reason of youth, ill-health, disability, financial hardship or other disadvantage by the provision of advice, support to find accommodation and services, the advancement of health, well-being and social isolation by provision of advice and services and the promotion of beneficial activities for people in Cricklewood, the London Borough of Brent and throughout London.

Business Strategy

During the year the Board of Trustees have been working with the SMT to prepare an operational strategy document to direct the future work that the charity intends to undertake. In addition to this, the Board has been working with the SMT on a number of new projects to enhance the services offered to the users of the charity, including the offering of free health checkups and Shout.london

Our Vision, Mission and Principles

Our Vision : “Social Inclusion for All”

Strapline: Together Transforming Lives

Our Mission: To offer a full range of effective community-based services to homeless and socially isolated people enabling them to live independent and fulfilled lives.

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

Our Guiding Principles and Strategy

We work to a set of guiding principles and practices that underpin everything we do. These are:

Prevention : we seek to identify issues before they arise and take pre-emptive action.

Inclusion in the community: we act as a community catalyst to energise, coordinate and harness the capabilities of multiple stakeholders.

Collaborative Transformation : we deliver interventions and solutions, which build capability to transform lives and attitudes.

Self-Determinations : we support clients to use their skills and experiences to identify routes to personal, social and financial independence.

Ambitious and Innovative Solutions : we encourage new and innovative approaches and the use of technology to deliver scalable and sustainable solutions,

Sustained impact : we make a sustained social and economic impact on the livelihoods of the individuals and communities we serve.

Our strategic approach emphasises:

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

We have developed our strategic plans to ensure that we provide public benefit and achieve our objectives as set out in our governing document. The objectives include;

We seek to achieve these by;

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

Achievements and performance

Housing Services:

In a year still very much influenced by the Covid pandemic of the last two years, we have adapted our housing service to offering face to face as well as when necessary on-line engagement with our clients and partners.

In the year to 31 March 2023, we are pleased to report our post Covid operating model focusses on individuals who refer themselves in person or increasingly online seeking housing advice. Whilst in early 2022 the majority of this support has been either digital, by phone, face to face or a combination of all three we have seen more and more of our clients attend for support at our Community Centre and Outreach spaces across Brent. It has been good to see people feeling confident and safe to start returning to our one to one and group support services.

The key issues for us are that housing itself is not the core problem, rather it is a lack of effective access to preventative support, as well as ensuring that secure high standard accommodation is provided. We want to develop a multi-disciplinary offer made up of key services signed up to support individual clients

We worked with a further 598 (410 year-end 2022) clients in need of housing support and we have managed requests for help from 250+ people presenting in person as homeless. They have been signposted to the correct agency to deal with their needs as funded by our local authority – Crisis Skylight and Brent Homeless Team. Satisfaction rates are low with people telling us they are not getting the help they need so we continue to work with them to resolve their housing issues. We have built good relationships with landlords in the private rented sector.

598 clients received housing support

34 Under 35 yr old supported into accommodation with ongoing support 45% Women of which 34% were over 70yrs, 55% Men with 65% aged 65yrs and older 23 Older men and women moved into sheltered accommodation

81 Clients moved from unsuitable accommodation to better accommodation

598 clients helped with housing support

250+ people signposted for help with street homelessness

Social Inclusion

Brent and parts of its surrounding boroughs are ranked amongst the top 15% of the most deprived areas of the country. This level of deprivation is characterised by high levels of long-term unemployment, lower than average incomes and a reliance on benefits and social housing. Loneliness and isolation are also associated with poor mental, physical and emotional health. Socially isolated and lonely adults are more likely to experience early admission to residential or

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

nursing care. All of the above is further exacerbated by the current Cost of Living crisis which is having a detrimental impact on our clients. Key achievements:

Client Outcomes

H ealth & Wellbeing

With the Cost of Living crisis, the on-going presence of Covid-19 in our lives, and the increasing challenges to access statutory health services including GP services we have focused our resources on supporting the health and wellbeing of our clients and staff in the last year. We do this by creating where we can physical, mental, social and creative health opportunities either on a one to one or group basis. It has been particularly important to focus on groups that statutory services are less effective at engaging e.g. those from BAME, homeless people, those who experience health inequalities as well as people from our diverse communities. We have positive connections with all the major communities in NW London e.g. faith, voluntary sector, NHS, Local authorities and others, and we use them to ensure that our clients receive integrated support for what can often be a plethora of challenges. ICPs (Integrated Care Partnerships are collaborative networks of service providers) should be a useful development in our work although our work to-date shows how much works needs to be done to achieve full integration between statutory services. However, we will proactively work with Brent Integrated Partnership for the benefit of our clients.

The majority of our clients live with mental health challenges or dementia, are carers, homeless or have been homeless, socially isolate, long term unemployed and aged 18 and above, and increasingly stressed by the impact of the Cost of Living crisis on their lives.

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

The activities Ashford Place delivers are accompanied by health and wellbeing messages and promote positive health. In the last year we have focused on developing Brent Thrive, a mental health community action grass-roots project omitted to changing the conversation around mental health. Members who are those with lived experience of mental health challenges have worked together to bring about change in mental health services. Examples of their work include the launch of Working together to Create a Mental Health Friendly Brent, co-producing training for front line mental health provider staff, meeting with commissioners and service providers to help create a person centred holistic mental support service in Brent, co-producing a new mental health website. During this last year we have continued developing our SMI project (people with serious mental illness) supporting people to access their annual health checks. People living with SMI have a right to ask their GP for an annual health check which will focus on their physical and mental wellbeing, review medication and other tests all designed to ensure that the individual is receiving adequate health care in a timely manner.

Our dementia programme has expanded during the year, again a very important development given the negative impact that Covid-19 had and continues to have on our dementia community. Carers and people living with dementia have needed our support more than ever, and in particular against a backdrop of some statutory service staff working at home, difficulty in accessing NHS services, increasing expectation from benefits agencies that everyone should be digitally competent, when we know that this is not the case, and that a significant minority of our population need time consuming support to overcome digital barriers.

We continue to work with our partners in delivery physical health programmes with a recent focus on dance and movement as well as yoga groups.

In terms of creative health we continue to provide arts and music activities such as poetry, reading, singing sessions as well as partnering with the Royal Philharmonic Orchestra’s Resound community programme.

We have publicised the activities throughout the borough extensively via Website and social media, in Brent Council’s E-newsletter and in our weekly newsletter. Our work promoting this programme at GP practices and with Community Mental Health Teams continues to produce many referrals.

Key achievements

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

Client Outcomes

Working Together

Ashford Place sees itself as a charity for the whole community and as such is keen to join local residents and businesses to develop a pleasant and sustainable place for all of us. As Chair and part creator of the Cricklewood Town Team (CTT ), part of the Cricklewood Improvement Programme, since 2009 Danny Maher, CEO of Ashford Place is delighted to report another successful year for the Town team as it continues to improve and develop the area for local residents and businesses. Given the current climate including Cost of Living crisis and the aftermath of Covid (although it continues to exist) the CTT continued to deliver on its aims as much as it could and whilst it was a very quiet year all round it remained the voice of local residents in our community.

CTT volunteers work in partnership with residents, business and statutory bodies to improve the environment in Cricklewood over ten years. We benefit from thriving local resident associations such as NorthWestTwo, the Railway Cottages, Mapesbury RA and groups such as Clitterhouse Farm, local businesses, our Councilors from our surrounding wards of Mapesbury (Brent), Childs Hill (Barnet) and Fortune Green (Camden), and of course our residents.

Town Team volunteers have continued to work in partnership with residents and statutory bodies to improve the Cricklewood environment, including with business through our Business Association.

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

CRICKLEWOOD TOWN TEAM ANNUAL REPORT 2022 – 23

Part of Cricklewood Improvement Programme

Achievements across the year:

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

more recent film about a Caribbean RAF pilot. With a background in teaching and enthusiasm for heritage, women and Brent, she is the ideal candidate. Our Brent Women of Renown project will be rolled out in 6 Brent Primary schools and one secondary starting in March to celebrate International Women’s Day and Women’s History Month. The details are set out in the press release https://cricklewood.net/stop-press-press-release-forcricklewood-town-team-website/

How we help

We help people to achieve their potential, and to achieve social and financial independence. We do this by providing services as far as possible tailored to their needs. Our Community Centre based services coupled with our outreach programme across Brent enables us to provide a more rapid and appropriate response and beneficial outcomes, thus moving people onto greater control of their lives more quickly than in previous years. Have a look at http://www.ashfordplace.org.uk for more information on what we do.

Many of our clients have multiple challenges and require a range of support that enables them to achieve personal and social fulfilment. In addition, many residents are now facing huge pressures as the result of Cost of Living crisis which increases demand on our services.

However our approach is to help clients to take a lead role in overcoming barriers to a positive lifestyle with the pro-active participation of their peers and the local community.

We are blessed with having a very supportive and proactive local community, very professional partners and a client group who are open to recognising their strengths and working collaboratively with us on continuing to achieve solutions within our community.

Financial review

Details of our income and expenditure are set out in the Statement of Financial Activities (SOFA). Incoming resources for the year were £854,228 (2022: £1,033,410) and total resources spent on charitable activities were £891,491(2022: £933,202), resulting in a net deficit of funds for the year of £37,263 (2022: £100,208).

The main driver for decrease in income has been the termination of our Supported Living provision (Melrose Ave.) and a more challenging grant application environment.

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

The principal source of income continues to be from projects undertaken for the charity’s objectives and are detailed in the SOFA totalling £854,228 (2022: £1,033,410). An accumulated Restricted fund balance of £93,496 and designated fund balance of £2,323,809 is being carried forward to 2023/24 (see note 16).

Principal Funding Sources

Our principal sources of funding continue to be from Local and Central Government and Central & North West London NHS Foundation Trust, Brent Council, Irish Government, Charitable Trusts and Individual Donations. We are also looking to widen our scope of funding from digital and corporate sources.

Principal risks and uncertainties

A rigorous process for identifying risks and a clear risk management policy is central to meeting our obligations to clients, staff and donors.

Risk Management and Internal Controls

To be effective in our objectives and to meet our obligations to those who give us funding, we must identify and effectively manage risks, ensuring the risks we choose to accept are understood and the decisions assessed appropriately. The board regularly reviews and updates the organisation’s Risk Register at all board meetings to ensure risks are identified and managed.

How we manage risk

The Trustees have created a framework for identifying, assessing and controlling risks. The Board of Trustees is responsible for overseeing risk management. It delegates elements of the process to the Executive Directors and other staff. The CEO and other members of staff ensure the policies agreed by the Board are implemented. At Ashford Place, we recognise we must balance the cost of risk mitigation against the cost of the risks themselves. We ask all employees, partners and volunteers to manage the risks within their areas of responsibility.

The Board delegates the day to day monitoring of these risks to the CEO and other senior members of staff. Staff are kept up to date on the need to identify and monitor risks and report to the CEO and Board.

Key risks

The key risks currently identified by the Board are:

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

and actions are taken to ensure expenditure does not exceed confirmed income and to ensure that we stay within our reserves policy.

Reserves policy and going concern

The Trustees have established a policy whereby uncommitted unrestricted funds (general funds) should be 6 months of total expenditure excluding building project costs. The reserves are needed to meet the working capital requirements of the Charity and the Management Committee is confident at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. The general funds are £1,147,380 (2022: £823,236) of which £1,082,517 (2022: £733,063) are free reserves. Reserves held at the end of the year are in excess of six months of total expenditure. The strategy is to continue to build reserves through planned operating surpluses even in these challenging times. The Management Committee has identified expenditure that could be curtailed, should such circumstances arise.

The resource committee and board continue to monitor the activities and income of the charity to ensure that the charity has sufficient funds to continue to operate. While the impact from Covid19 is still being felt within the charitable sector, we have continued to fund raise to ensure that we have sufficient funds to continue our core work.

The charity has seen a decrease in both income and expenses in the year as a result of the closure of our assessment Center and boost up program. The closure of these programs have enabled us to refocus our resources in directions that more suit the expertise of the charity. While this movement in income is significant, the expenses associated with this work were higher, therefore the trustees are comfortable that this has no impact on the charities ability to continue operating.

At the time of approving the financial statements, the trustees have a reasonable expectation based on level of free reserves, cash flow and forecast that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Fundraising

We use a mix of the services of a professional fundraiser and in-house fundraising resources, and all our fundraising activities are influenced by advice from the Fundraising Code of Practice as outlined by the Fundraising Regulator https://www.fundraisingregulator.org.uk/

We do not have any evidence of failure in complying with any standards of fundraising from either external or internal sources. Reports on fundraising activities are shared and discussed by Trustees of the charity on a regular basis. All funding applications are submitted to official funding bodies only. We do not request funding from individuals.

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

Plans for the future

Our focus going forward will be on sustainability of the charity, quality services to our vulnerable clients in this Cost of living crisis era, and identifying new sources of funding to deliver our strategy. We aim to provide our clients and local residents with the best possible advice and support, opportunities to achieve social and financial independence, support to reduce the impact of the Cost of Living Crisis on our clients, and to make a positive contribution to the local community. All those involved in the life of Ashford Place: staff, trustees, volunteers and clients will continue to contribute to the delivery of our services and activities. We will support our clients to be fully integrated within the community and to have the resources needed for a positive lifestyle. We will work with local residents to create a welcoming, opportunistic, healthy and positive local environment. We continue to provide our services where residents need them most i.e. right across the borough, therefore we will be setting up more pop-up sessions for local people throughout 2023 and beyond.

Structure, governance and management

The trustees delegate the day-to-day running of the organisation to the Senior Management team i.e. Chief Executive Officer and Finance & Community Services Director. A non-hierarchal structure is conducive to achieving our aims. We aim to foster an open and honest culture and rely heavily on the contribution of 19 staff and 20 volunteers.

The organisation is a charitable company limited by guarantee, incorporated on 2 April 2002 and registered as a charity on 12 May 2003.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.

Remuneration policy for key management personnel

The board is responsible for agreeing and reviewing the remuneration of the Senior Management Team. The remuneration policy is reviewed annually, in line with the budget, with the board reserving the right to review the remuneration package of the Senior Management Team and other employees more frequently if required. The responsibility for the remuneration of new employees who are not part of the Senior Management Team is delegated to the Senior Management Team.

Statement of responsibilities of the trustees

The trustees (who are also directors of Ashford Place for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. 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 charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. We have complied with the charity governance code when considering the governance arrangements of the charity.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Ashford Place

Trustees’ annual report

For the year ended 31 March 2023

Auditor

Sayer Vincent LLP was appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 20 September 2023 and signed on their behalf by

William Pearse Treasurer

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Independent auditor’s report

To the members of

Ashford Place

Opinion

We have audited the financial statements of Ashford Place (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Ashford Place's ability to 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.

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Independent auditor’s report

To the members of

Ashford Place

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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 misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, 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

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Independent auditor’s report

To the members of

Ashford Place

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 to 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.

Auditor’s 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 an auditor’s report 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 material misstatement when it exists. Misstatements 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 statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Independent auditor’s report

To the members of

Ashford Place

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 state to the charitable company's members those matters we are required to state to them in an auditor’s 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.

Joanna Pittman (Senior statutory auditor)

29 September 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

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Ashford Place

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

For theyear ended 31 March 2023
Restated Restated Restated
2023 2022
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations and legacies 2 23,015 - 23,015 27,494 51,815 79,309
Charitable activities 3 439,772 388,023 827,795 409,426 528,405 937,831
Investments 3,418 - 3,418 165 - 165
Other 5 - - - 16,105 - 16,105
Total income 466,205 388,023 854,228 453,190 580,220 1,033,410
Expenditure on:
Charitable activities 6 393,861 491,902 885,763 306,148 627,054 933,202
Total expenditure 393,861 491,902 885,763 306,148 627,054 933,202
Net income / (expenditure) for the year 7 72,344 (103,879) (31,535) 147,042 (46,834) 100,208
Transfers between funds 283,800 (283,800) - - - -
Net movement in funds 356,144 (387,679) (31,535) 147,042 (46,834) 100,208
Reconciliation of funds:
Total funds brought forward 3,115,045 481,175 3,596,220 2,968,003 528,009 3,496,012
Total funds carried forward 3,471,189 93,496 3,564,685 3,115,045 481,175 3,596,220

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17a to the financial statements.

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Ashford Place

Balance sheet

Balance sheet Balance sheet
As at 31 March 2023 Company no. 04407339
Note
£
Fixed assets:
12
Current assets:
13
10,091
1,569,550
1,579,641
Liabilities:
14
(214,495)
17a
2,323,809
1,147,380
Total unrestricted funds
Restricted income funds
Unrestricted income funds:
Designated funds
Debtors
The funds of the charity:
Creditors: amounts falling due within one year
Net current asset
Total net assets
Cash at bank and in hand
Tangible assets
General funds
Total charity funds		 2023
£
2,199,539		 Restated
£
89,622
1,405,928		 Restated
2022
£
2,272,473
2,199,539
1,365,146		 2,272,473
1,323,371
1,579,641
(214,495)		 1,495,550
(172,179)
2,323,809
1,147,380		 2,291,809
823,236
3,564,685 3,595,844
93,496
3,471,189		 481,175
3,115,045
3,564,685 3,596,220

Approved by the trustees on 20 September 2023 and signed on their behalf by

William Pearse Treasurer

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Ashford Place

Statement of cash flows

For the year ended 31 March 2023

For the year ended 31 March 2023
Cash flows from operating activities
Net (expenditure) / income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the
Net cash provided by / (used in) investing
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of fixed assets
Purchase of fixed assets		 £
£
(31,535)
72,934
(3,418)
79,531
42,316
159,828
3,418
376
-
3,794
163,622
1,405,928
1,569,550
2023		 £
£
100,208
78,310
(165)
(51,585)
(18,012)
108,756
165
-
(4,377)
(4,212)
104,544
1,301,384
1,405,928
2022
159,828
3,794		 108,756
(4,212)
163,622
1,405,928		 104,544
1,301,384
1,569,550 1,405,928

21

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies

a) Statutory information

Ashford Place is a charitable company limited by guarantee and is incorporated in England and Wales

The registered office address is 60 Ashford Road, Cricklwood, London, NW2 6TU.

b) Basis of preparation

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

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

22

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

h) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

2% straight line 20% - 33% straight line

l) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

p) Pensions

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

23

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

Donations and gifts Unrestricted
£
23,015		 £
-
Restricted		 2023
Total
£
23,015		 Restated
Unrestricted
£
27,494		 Restated
£
51,815
Restricted		 Restated
2022
Total
£
79,309
23,015 - 23,015 27,494 51,815 79,309

3 Income from charitable activities

Total income from
charitable activities
Services to homeless and
socially isolated people		 Unrestricted
£
439,772
 £
388,023
Restricted		 2023
Total
£
827,795		 Restated
Unrestricted
£
409,426		 Restated
£
528,405
Restricted		 Restated
2022
Total
£
937,831
439,772 388,023 827,795 409,426 528,405 937,831

4 Department of Foreign Affairs and Trade; Emigrant Support Programme

Restricted fund income shown in note 3 above includes funding from the Department of Foreign Affairs and Trade; Emigrant Support Programme.

During the year end 31 March 2023, Ashford Place received grants of £193,350 (2022: £168,000) from the Department of Foreign Affairs and Trade, Emigrant Support Programme. The grant awarded covers the period to 30 June 2023 and was for the following:


to 30 June 2023 and was for the following:
Assertive Community Irish Elders
Dementia
Irish Elders Homeless Project
Evening Support Group and Wellbeing
Director
Elders Lunch and Social Activities
Irish Befriending + Project
Link Worker		 2023
Total
£
29,400
8,400
53,550
14,000
20,000
26,250
28,350
12,400
192,350		 2022
Total
£
28,000
8,000
51,000
13,000
16,000
25,000
27,000
-
168,000

The grants awarded in the year ended 31 March 2023 have been partially spent in the year to 31 March 2023 and the balance of £48,088 has been spent in the current financial year by June 2023. This balance was carried forward in restricted funds as at 31 March 2023.

5 Other income

Other income
CJRS government grant Unrestricted
£
-		 £
-
Restricted		 2023
Total
£
-		 Unrestricted
£
16,105		 £
-
Restricted		 2022
Total
£
16,105
- - - 16,105 - 16,105

24

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

Staff costs (Note 8)
Service provision
Other expense
Travel and subsistence
Depreciation
Communications
Equipment maintenance
Insurance
Premises costs
Postage
Professional fees
Audit fees
Insurance and other costs
Support costs
Governance costs
Total expenditure 2023
Total expenditure 2022		 Services to homeless
and socially isolated
people
£
496,820
159,076
5,472
4,478
-
-
-
-
-
-
-
-
-
665,845
205,371
14,547
885,763
933,202
Charitable activities		 Governance
costs
£
-
-
-
-
-
-
-
-
-
-
-
13,705
842
14,547
-
(14,547)
-
-		 Support
costs
£
-
-
-
-
72,934
11,051
28,362
9,664
65,232
534
17,593
-
-
205,371
(205,371)
-
-
-		 2023
Total
£
496,820
159,076
5,472
4,478
72,934
11,051
28,362
9,664
65,232
534
17,593
13,705
842
885,763
-
-
885,763		 2022
Total
£
555,114
82,720
16,106
2,558
78,310
18,413
29,477
10,317
109,902
542
12,663
15,554
1,526
933,202
-
-
933,202

25

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

6b Analysis of expenditure (prior year)

Charitable activities

Charitable activities
Staff costs (Note 8)
Service provision
Other expense
Travel and subsistence
Depreciation
Communications
Equipment maintenance
Insurance
Premises costs
Postage
Professional fees
Audit fees
Insurance and other costs
Support costs
Governance costs
Total expenditure 2022		 Services to homeless
and socially isolated
people
£
555,114
82,720
16,106
2,558
-
-
-
-
-
-
-
-
-
656,498
259,624
17,080
933,202		 Governance
costs
£
-
-
-
-
-
-
-
-
-
-
-
15,554
1,526
17,080
-
(17,080)
-		 Support
costs
£
-
-
-
-
78,310
18,413
29,477
10,317
109,902
542
12,663
-
-
259,624
(259,624)
-
-		 2022 Total
£
555,114
82,720
16,106
2,558
78,310
18,413
29,477
10,317
109,902
542
12,663
15,554
1,526
933,202
-
-
933,202

26

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2023 2022
£ £
Depreciation 72,934 78,310
Auditor's remuneration (excluding VAT):
Audit 8,640 11,750
Other services 1,500 770

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows:

Staff costs were as follows:
Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes		 2023
£
449,710
38,521
8,589		 2022
£
506,346
38,433
10,335
496,820 555,114

No employee earned more than £60,000 during the year (2022: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £124,730 (2022: £123,345).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil), other than as disclosed in note 12 below.

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £130 (2022: £Nil) incurred by 1 (2022: Nil) member relating to attendance at meetings of the trustees.

9 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 19 (2022: 20).

Staff are split across the activities of the charity as follows (headcount basis):

Staff are split across the activities of the charity as follows (headcount basis):
Core / Central Services
Housing Department
Social Inclusion/Health and Wellbeing		 2023
No.
2.0
4.0
13.0		 2022
No.
2.0
3.0
15.0
19.0 20.0

27

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

10 Related party transactions

During the year the charity made payments of £13,738 to Silver Mountain Productions Limited, a company owned by Carey Fitzgerald, who is a trustee of the charity. These payments were made in regard to the Mental Health Film Festival in October 2022. There were no outstanding balances at the financial year-end.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

11 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Cost
At the start of the year
At the start of the year
Additions in year
Disposals in year
Depreciation
At the end of the year
At the start of the year
Charge for the year
Eliminated on disposal
At the end of the year
Net book value
At the end of the year		 Freehold
Buildings
£
2,775,734
-
-		 Fixtures,
fittings &
equipment
£
563,721
-
-		 Total
£
3,339,455
-
-
2,775,734 563,721 3,339,455
593,058
48,000
-		 473,924
24,934
-		 1,066,982
72,934
-
641,058 498,858 1,139,916
2,134,676 64,863 2,199,539
2,182,676 89,797 2,272,473

Land with a value of £500,000 (2022: £500,000) is included within freehold property and not depreciated.

All of the above assets are used for charitable purposes.

13 Debtors

Debtors
Trade debtors
Prepayments		 2023
£
220
9,871		 2022
£
78,075
11,547
10,091 89,622

28

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

14 Creditors: amounts falling due within one year

e year ended 31 March 2023
Creditors: amounts falling due within one year
Other creditors
Taxation and social security
Accruals and deferred income
Trade creditors		 2023
£
3,383
8,109
20,000
183,003		 2022
£
11,199
-
22,019
138,961
214,495 172,179

15 Deferred income

Deferred income comprises of grants received for activities in the next financial year.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2023
£
66,871
(66,871)
161,675		 2022
£
-
-
66,871
161,675 66,871

16a Analysis of net assets between funds (current year)

Analysis of net assets between funds (current year)
Net assets at 31 March 2023
Analysis of net assets between funds (prior year)
Tangible fixed assets
Net current assets
Net assets at 31 March 2022
Tangible fixed assets
Net current assets		 General
unrestricted
£
64,863
1,082,517		 Designated
£
2,134,676
189,133		 Restricted
£
-
93,496		 Total funds
£
2,199,539
1,365,146
1,147,380 2,323,809 93,496 3,564,685
General
unrestricted
£
90,173
733,063		 Designated
£
2,182,676
109,133		 Restricted
£
-
481,175		 Total funds
£
2,272,849
1,323,371
823,236 2,291,809 481,175 3,596,220

16b Analysis of net assets between funds (prior year)

29

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

For the year ended 31 March 2023 For the year ended 31 March 2023
17a
Restated
At 1 April
2022
£
42,000
-
21,427
318,403
6,178
21,881
5,549
-
30,349
2,500
4,500
1,398
16,100
5,899
4,991
-
-
-
-
-
Total restricted funds
481,175
2,182,676
109,133
Total designated funds
2,291,809
General funds
823,236
3,115,045
3,596,220
Property fund
Unrestricted funds:
Designated funds:
Mercer's Charitable Trust
Centre for the Cast
London Borough Brent Heritage Wellbeing
Restricted funds:
Department of Foreign Affairs and Trade;
I E Council for Emigrants
Movements in funds (current year)
Total funds
Big Lottery Fund - Independent Lifestyles
Big Lottery Community Fund
National Lottery Carers Grp
Zurich Community Trust
Sisters of Mercy
Kingsbury Charity
City Bridge Trust
London Borough of Brent Mental Health
Edward Harvist
CADBrent
Brent Advice Fund - CVS
London Borough of Brent Love Where You
Willesden Consolidated Charities
Total unrestricted funds
Property maintenance sinking fund
Brent Neighbourhood NCIL digitalisation
Rethink		 Income &
gains
£
192,350
1,280
-
80,270
-
-
5,000
12,500
8,500
42,500
-
2,411
-
-
-
18,618
3,974
1,000
18,850
770		 Expenditure
& losses
£
(186,262)
(1,280)
(21,427)
(191,278)
(4,034)
(9,344)
(10,549)
(12,500)
(27,879)
(16,506)
(500)
-
(1,628)
(2,971)
(3,974)
(1,000)
(770)		 Transfers
£
-
-
-
(207,395)
(2,144)
-
-
-
(10,970)
(15,994)
(4,500)
(3,309)
-
-
(2,020)
(18,618)
-
-
(18,850)		 At 31 March
2023
£
48,088
-
-
-
-
12,537
-
-
-
12,500
-
-
16,100
4,271
-
-
-
-
-
-
481,175 388,023 (491,902) (283,800) 93,496
2,182,676
109,133		 -
-		 (48,000)
-		 -
80,000		 2,134,676
189,133
2,291,809 - (48,000) 80,000 2,323,809
823,236 466,205 (345,861) 203,800 1,147,380
3,115,045 466,205 (393,861) 283,800 3,471,189
3,596,220 854,228 (885,763) - 3,564,685

The narrative to explain the purpose of each fund is given at the foot of the note below.

30

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

17b Movements in funds (prior year) - Restated

e year ended 31 March 2023
Movements in funds (prior year) - Restated		 e year ended 31 March 2023
Movements in funds (prior year) - Restated
At 1 April
2021
£
42,450
72,391
298,193
-
-
-
58,510
24,751
13,357
13,357
-
5,000
-
-
-
-
-
-
-
-
-
-
-
-
-
Total restricted funds
528,009
2,230,676
111,553
Total designated funds
2,342,229
General funds
625,774
2,968,003
3,496,012
Restricted funds:
Willesden Consolidated Charities
Total funds
Department of Foreign Affairs and Trade;
Emigrant Support Programme
Total unrestricted funds
Hestia - Employment services
CAF
City Bridge Trust
Crisis
Homeless Link HCIP
Mercer's Charitable Trust
Centre for the Cast
London Borough Brent Heritage Wellbeing
Unrestricted funds:
Designated funds:
Property fund
Property maintenance sinking fund
Big Lottery Fund - Independent Lifestyles
HTC
Big Lottery Community Fund
National Lottery Carers Grp
Zurich Community Trust
Sisters of Mercy
Brent Neighbourhood NCIL digitalisation
MAPRA
London borough Brent MH & Dementia
London Borough of Brent Mental Health
Edward Harvist
CADBrent
Brent Advice Fund - CVS
Much Loved
Janet Owen Fund (Tim Young)
LDC Funeral Directors
Just Giving		 Income &
gains
£
168,000
35,527
161,570
8,025
26,332
10,000
-
34,000
-
-
17,500
12,500
4,911
17,850
2,500
24,815
4,991
18,818
17,885
2,600
5,000
3,255
1,632
1,039
700
770		 Expenditure
& losses
£
(168,450)
(86,491)
(141,360)
(1,847)
(4,451)
(4,451)
(58,510)
(28,402)
(13,357)
(13,357)
(15,000)
(13,000)
(3,513)
(1,750)
(2,500)
(18,916)
-
(18,818)
(17,885)
(2,600)
(5,000)
(3,255)
(1,632)
(1,039)
(700)
(770)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
2022
£
42,000
21,427
318,403
6,178
21,881
5,549
-
30,349
-
-
2,500
4,500
1,398
16,100
-
5,899
4,991
-
-
-
-
-
-
-
-
-
528,009 580,220 (627,054) - 481,175
2,230,676
111,553		 -
-		 (48,000)
-		 -
(2,420)		 2,182,676
109,133
2,342,229 - (48,000) (2,420) 2,291,809
625,774 453,190 (258,148) 2,420 823,236
2,968,003 453,190 (306,148) - 3,115,045
3,496,012 1,033,410 (933,202) - 3,596,220

31

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

Purposes of restricted funds

Emigrant Support Programme: The restricted funds of £42,000 at the year end are all allocated for the Department of Foreign Affairs and Trade; Emigrant Support Programme, which was a grant received from the Irish Embassy Department of Foreign Affairs Ireland. The grant was for £168,000 of which £126,000 was for the year ending 31 March 2022, and £42,000 is carried forward to the year ending 31 March 2023. The grants were restricted to activities of Elders Advocacy and Advice Services, Elders Lunch Club and Social Activities, and organisational costs towards all Irish projects.

The Big Lottery funds Independent Lifestyles, a project that supports those in a period of crisis to prevent it escalating into homelessness and destitution. The project ended in June 2021 and the balance of funds were agreed with the funder to spend in the following period.

Big Lottery Commuity Fund, National Lottery Carers income and expenditure relate to Dementia Peer Support work, Dementia Hubs work, work with dementia carers and all dementia related projects.

City Bridge Trust funded a worker to roll out, capacity build and support Dementia Hubs in Brent Zurich Community Trust income relates to the work of our in-house Dementia Café

Sisters of Mercy income rlates to work of dementia café and work with single people over 65 yrs at risk of homelessness

Hestia - Employment services – funding of Lot A/B of mental health project providing meaningful activities and training towards volunteering and employment for people living with long term mental health challenges. Project is completed.

Brent NCIL, Edward Harvist and Wolfson Foundation provided funding towards the construction of a new Wellbeing Space

Mercers Philanthropy provided funding for Fit and Well activities for the elderly and support for our older clients to end loneliness.

Boost up Project an innovative project designed to provide better access to long-term accommodation for the 18-24 homeless demographic as well as expanding their opportunities to employment, training and education funded in part by Crisis, and Homeless Link HCIP. Completed in June 2021 Brent hospitality grant – grant to support our hospitality services during Covid.

Covid Centre for the Cast - grant to design website by and for people living with Dementia

Brent Neighbourhood ECO Project - grant to build awareness and educate community on environmental matters

London Borough of Brent – build, populate and manage a Wellbeing Website for people living with severe mental illness to access

Purposes of designated funds

The property fund represents the net book value of the charity's freehold property. The property maintenance sinking fund has been set up to provide a sinking fund for the periodic maintenance of the charity's property. The fund is calculated at 5% of the carrying value of the property. The use of this fund is at the discretion of the trustees. A further £80,000 was transferred to this fund in 2022-23 at the discretion of the trustees.

Transfers between funds

The transfers between restricted and unrestricted funds have arisen in the current year where costs were not allocated to these funds in previous years. This created an apparent surplus position on funds where projects had ended and no further activity was to take place. To present the correct funds balance at 31 March 2023, a transfer has been made to unrestricted funds.

32

Ashford Place

Notes to the financial statements

For the year ended 31 March 2023

18 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

19 Prior year adjustment

Following a detailed review of the funds balances at 1 April 2022 it came to light that a number of funds had incorrectly been accounted for as restricted funds in prior years. An adjustment has been made to reclassify these funds and restate the funds position for the comparative period of these accounts.

Reserves position
Unrestricted Restricted Total
£ £ £
Total funds at 1 April 2021 as previously stated 2,743,005 753,007 3,496,012
Adjustments to reclassify funds from restricted to unrestricted 224,998 (224,998) -
Total funds at 31 March 2022 as restated 2,968,003 528,009 3,496,012
Impact on income and expenditure
Unrestricted Restricted Total
£ £ £
Net income as previously reported 96,018 4,190 100,208
Reclassification of restricted income & expenditure to unrestricted 51,024 (51,024) -
Net income as restated 147,042 (46,834) 100,208

33