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← Worthing Community Partnership

2023-06-30-accounts

Company Registration Number: 04243893 Charity Registration Number: 1098284

Worthing Community Partnership

Company Limited by Guarantee

Unaudited Financial Statements

30 June 2023

1

Worthing Community Partnership

Company Limited by Guarantee

Financial Statements

Year Ended 30 June 2023

Pages
Trustees Annual Report (Incorporating the Director’s Report) 3 to 6
Independent Examiner’s Report to the Trustees 7
Statement of Financial Activities (Including Income and Expenditure Account) 8
Statement of Financial Position 9 to 10
Notes to the Financial Statements 11 to 18

2

Worthing Community Partnership

Company Limited by Guarantee

Financial Statements

Year Ended 30 June 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2023

Reference and Administrative Details

Registered charity name

Worthing Community Partnership t/a Worthing Community Chest

Charity registration number

Charity registration number 1098284 Company registration number 04243893 Principal office and registered office Town Hall Chapel Road Worthing West Sussex BN11 1HA United Kingdom

The Trustees

M Brett M Ansell SJ Robinson-Viney R Fokou N Atkins R E Nowak (Appointed 11 July 2022) A Stimpson (Resigned 21 December 2022) H Thorpe (Appointed 30 May 2023)

Independent Examiner

Oliver Tatsa Yemeli FCCA Belver Accounting & Business Services (BABS) Ltd, 4 Preston Road Brighton East Sussex BN1 4QF

3

Worthing Community Partnership

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director’s Report)

Year Ended 30 June 2023

Structure, Governance and Management

The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association dated 29 June 2001.

The trustees are appointed at the Annual General Meeting and one third retires in rotation and can be re-appointed. The trustees may further appoint trustees to fill vacancies arising between Annual General Meetings. The trustees are recruited dependent on skills required and contribute at Board meetings and at least one other committee or role within the organisation. Trustees are given an induction by the Chair, Treasurer and other trustees and receive on-going formal and informal training at board meetings, away days and through links with other local agencies. Worthing Community Partnership is a small organisation and as such, trustees and all volunteers within the organisation, are more active than would usually be required of a governance role within a larger organisation that has a greater number of paid staff.

Public Benefit

The trustees have referred to the Charity Commissions guidance on public benefit when reviewing the company’s aims and objectives and in planning future activities. As a grant making charity, Worthing Community Chest exists to make partnerships and offer financial grants to enable local groups, projects and events for the public benefit.

Objectives and Activities

The Worthing Community Partnership is known locally as the Worthing Community Chest and is an independent organisation enabling and supporting local community regeneration, projects and events. We operate as far as possible by building partnerships with local voluntary organisations and clubs, businesses, statutory bodies and individuals.

Our Purpose

To tackle social isolation and economic deprivation by:

Achievements and Future Plans

The main income for the charity is derived from the continuing occupancy of the freehold property, Renaissance House in Rowlands Road, Worthing. This enables the organisation to carry out its charitable functions. Textile recycling income received via Worthing Borough Council is restricted to awarding Worthing Community Chest small grants. We received £1,350 unrestricted funds from Broadwater Carnival, the Textile recycling received via Worthing Borough Council income is incrementally diminishing by the year. The charity will continue to promote recycling locally to help to meet council recycling targets, reduce landfill waste and raise funds for distribution to local groups and events in Worthing. At the tail end of the financial year the directors started exploring other income sources such as Facebook donation, Lottery and endowments. These will hopefully raise additional income in the next financial year (ending June 2024).

A list of organisations who have benefitted from grants awarded in the year is included in note 8 to the financial statements. The charity awarded grants, grass roots funding and seed funding to help organisations cope with the difficult times of approximately £26,174 during the year, helping to enable a wide range of events to take place in Worthing. More detailed achievements and activities of the charity are detailed in the Charity’s Annual Report available from the town hall and upon request.

4

Worthing Community Partnership

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director’s Report) (continued)

Year Ended 30 June 2023

Financial Review

The results for the year are set out in the statement of financial activities on Page 8.

There was a total net Shortfall for the year of £7,030 (2022: £11,117 Shortfall). The surplus generated on the unrestricted general fund was £6,364 (2022: £9,455).The slight drop on support costs of £983 compared to the previous year is due to fall in Staff Cost 2023: £25,432 (2022: 26,415). This surplus and net assets enabled the trustees to allocate an additional £13,394 of unrestricted funds to restricted income to award £23,594 in community chest grants, Grass roots and Seed funding of £2,580 and £7,221 shortfall covered by the designated Renaissance House Repair funds, leaving £190 Surplus in the year to be added to unrestricted, undesignated funds as at 30[th] June 2023.

Reserves

In the context of these financial statements, reserves are the funds available to the charity that can be made available to spend for any or all of its purposes, once it has met its commitments and covered its planned expenditure. These comprise restricted reserves to be spent solely on Community Chest Grants and unrestricted funds that may be designated by the trustees for specific purposes to enable the work of the charity to continue and grow and meet its anticipated requirements.

The level of reserves is monitored and reviewed on a bi-monthly basis. The directors consider it prudent that unrestricted reserves should cover 3 months running costs for the charity and major repairs at Renaissance House. Unrestricted funds comprise £313,379 representing the net book value of Renaissance House, designated funds of £15,337 for major repairs (This is now held by letting agent), £7,299 representing three months’ running costs leaving total undesignated funds of £45,036 at 30[th] June 2023. This meets the trustees’ desired level of reserves. It is expected that the unrestricted reserves will be used to award further grants in the coming years as the recycling income reduces.

Restricted Community Chest Grants Fund

Funds received from Worthing Borough Council from textile recycling are held for the sole purpose of awarding community chest small grants to fund local projects and events. Recycling income of £12,780 was received in the year and grants of £26,174 were awarded.

Designated Major Repairs Fund

Funds received from tenants in excess of service charge recharged costs are held for the sole purpose of major repairs and property works rechargeable to tenants under the terms of their leases. The purpose of this fund is to reduce fluctuations in annual service charge costs that would be caused by recharging all major works on Renaissance House in the period they are incurred and to ensure funds are available for planned major works such as lift repairs and external property redecoration. The Major Repairs Fund is now held by the letting agent managing Renaissance House on behalf of the Charity.

Risk Assessment

The directors review financial and other risks when appropriate and have established procedures to ensure that transactions and projects are properly authorised. Ongoing occupancy of Renaissance House is necessary for the ongoing sustainability of the charitable company in its current form. Trustees are looking forward to maintain the lease with our current tenants Western Sussex Health Trust as they were awarded the continuing contract to offer the sexual health services from our property and will continue in tenancy for the next three to five years.

5

Worthing Community Partnership

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director’s Report) (continued)

Year Ended 30 June 2023

Statement of Trustees’ Responsibilities

The trustees (who are also directors of Worthing Community Partnership for the purposes of company law) are responsible for preparing the Directors’ and Trustees’ report and financial statements in accordance with applicable law and the Charities SORP (FRS 102).

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 the year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

The charity is not subject to audit under company law and is eligible under charity commission requirements for independent examination.

Independent Examiner

Oliver Tatsa Yemeli of Belver Accounting and Business Services (BABS) Ltd will be proposed to the AGM to be retained as the independent examiner.

Signed on behalf of the trustees

Rigobel Fokou Trustee

R.E Nowak Vice Chair

-4etit-

27/03/24

27/03/24

6

Worthing Community Partnership

Company Limited by Guarantee

Independent Examiner’s Report to the Trustees of Worthing Community Partnership

Year Ended 30 June 2023

I report to the trustees on my examination of the accounts of the Worthing Community Partnership for the year ended 30th June 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of Company Law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act)

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

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in accordance with section 386 of the Companies Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the Charities SORP (FRS102).

Signed: Oliver Tatsa Yemeli FCCA (Mar 27, 2024 11:02 GMT) Name: Oliver Tatsa Yemeli FCCA Address: Belver Accounting and Business Services (BABS) LTD, 4 Preston Road, Brighton, East Sussex BN1 4QF Date: 26/03/2024

7

Worthing Community Partnership

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year Ended 30 June 2023

Note:
Income and endowments from
Donations and legacies
5
Charitable activities
6
Income from investments
7
Total Income and endowments
Expenditure on
Charitable activities
8-11
Emergency Funding (Covid19)
Grass Roots Funding
less prior year unclaimed grants
Total Expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Transfer unrestricted to cover
restricted funds shortfall
Total funds carried forward
17		 Unrestricted
funds
£
1,736
29,778
282
31,796
25,432
25,432
6,364
6,364
388,081
-13,394
381,051		 Restricted
funds
£
12,780
-
-
12,780
23,594
2,580
26,174
- 13,394
-13,394
-
13,394
-		 Total
funds
£
14,516
29,778
282
44,576
49,026
2,580
51,606
-7,030
-7,030
388,081
-
381,051		 2022
Total
funds
£
9,837
35,182
48
45,067
45,160
-
11,024
-
56,184
-11,117
-11,117
399,198
-
388,081

The statement of financial activities includes all gains and losses recognised in the year All income and expenditure derive from continuing activities except those itemised in note 5

The notes on pages 11 to 18 form part of these financial statements

8

Worthing Community Partnership

Company Limited by Guarantee

Statement of Financial Position

Year Ended 30 June 2023

Fixed Assets
Note:
Tangible fixed assets
13
Current Assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net Current Assets
Total Assets less Current Liabilities
Creditors: amounts falling due after
more than one year
16
Net Assets
Funds of the Charity
Restricted funds
Unrestricted funds
Total Charity funds
17		 2023
£
55,907
37,748
93,655
25,983		 £
313,379
67,672
381,051
381,051
0
381,051
381,051		 2022
£
315,379
6,242
93,196
99,438
26,736
72,202
388,081
-
388,081
0
388,801
388,801

For the year ending 30 June 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies

Trustees’ responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small Companies regime.

The notes on pages 11 to 18 form part of these financial statements

9

Worthing Community Partnership

Company Limited by Guarantee

Statement of Financial Position (continued)

Year Ended 30 June 2023

These financial statements are to be approved by the board of trustees and authorised for issue and will be signed on behalf of the board by:

til

R Fokou Trustee

The notes on pages 11 to 18 form part of these financial statements

10

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements

Year Ended 30 June 2023

1. General Information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Town Hall, Chapel Road, Worthing, West Sussex, BN11 1HA, United Kingdom.

2. Statement of Compliance

These financial statements have been prepared in accordance with the Charities SORP: Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102)

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

There are no material uncertainties about the charity’s ability to continue.

Disclosure Exemptions

The entity satisfies the criteria of being a qualified entity as defined in FRS102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two subclasses: restricted income funds or endowment funds

11

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

3 Accounting Policies (continued)

Incoming Resources

All incoming resources are included in the statement of financial activities when the entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources Expended

Expenditure is recognised on an accruals basis as a liability in incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings in the statement of financial activities to which it relates.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

12

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

3 Accounting Policies (continued)

Depreciation

The charity does not depreciate freehold property as it is expected to retain its value over the period of ownership. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 50% straight line Improvements to property - 20% straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial Instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments, including derivatives, are initially recognised at fair value unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gains was recognised.

13

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

3 Accounting Policies (continued)

For all equity instruments regardless of significance and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by Guarantee

The company is limited by guarantee and every member of the company undertakes to contribute an amount of £10 to the company’s assets if it should be wound up while they are a member or within one year after they cease to be a member, for the payment of the company’s debts and liabilities contracted before they cease to be a member and of the costs charges and expenses of winding up and for the adjustment of the rights and contributories among themselves.

If the company is wound up, after all its debts and liabilities have been satisfied there remains any property, it shall not be paid to or distributed amongst the members of the company but it shall be given or transferred to some other charity or association having objects similar to the objects of the charitable company.

5. Donations and Legacies

Donations unrestricted
Other income unrestricted
Designated legacy
Donations and Sponsorship restricted
Community Chest Recycling via Worthing Borough Council
Pop-up recycling income
Donations unrestricted
Other income unrestricted
Designated legacy
Donations and Sponsorship restricted
Community Chest Recycling via Worthing Borough Council
Pop-up recycling income		 Unrestricted
Funds
£
1,736
282
-
-
-
2018
Unrestricted
Funds
£
640
48
-
-
-		 Restricted
Funds
£
-
-
-
12,780
-
12,780
Restricted
Funds
£
-
-
-
9,197
-		 Total
Funds 2023
£
1,736
282
-
12,780
-
14,798
Total
Funds 2022
£
640
48
-
9,197
-
688 9,197 9,885

14

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

6. Charitable Activities

Rent
Service Charge
Service charge recharged
to cover service charge recharged costs
Shortfall transferred to major repairs
designated funds		 Unrestricted
Total
funds
funds
2023
£
£
£
36,999
36,999

7,025
-14,246
-7,221
-7,221
29,778
29,778		 Unrestricted
Total
funds
funds
2022
£
£
£
36,999
36,999
15,449
-17,266
-1,817
-1,817
35,182
35,182		 Unrestricted
Total
funds
funds
2022
£
£
£
36,999
36,999
15,449
-17,266
-1,817
-1,817
35,182
35,182
35,182
35,182

Service charge income is a recharge of service charge costs incurred on behalf of the tenant and reimbursed from the service charge. The surplus transferred to the major repair fund is shown as revenue and shortfall as cost.

7. Investment Income

7. Investment Income
Total Total
Unrestricted funds Unrestricted
funds
funds 2023 funds 2022
£ £ £ £
Bank interest receivable 282
282		 48 48
8. Expenditure on Charitable Activities by Activity Type
Activities
undertaken Support Total funds Total funds
directly costs 2023 2022
£ £ £ £
Charity support costs 17,727 17,727 21,766
Community Chest Grants 26,174 26,174 29,769
Partnership funding
Less prior year unclaimed grants
Governance Costs 7,705 7,705 4,649
26,174 25,432 51,606 56,184

The organisations that benefitted from Community Chest Grants and Partnership awards during the year were:

Friends of Malthouse Meadow Community Forest Garden Superstar Arts Worthing Rotary Carnival Committee Worthing Theatre Trail Billy & Beyond Friends of West Worthing Park Headway Sussex –Worthing Living Well Support Group Wild Gatherings Andy’s Angels 4Sight Vision Support Whitebeam Woods 2[nd] Northbrook Brownies Football for Future Green Dreams Community Festival Rainbow Theatre Worthing Rotary Carnival 2[nd] Goring Guides

International Music in Performance and Education Foundation Acorn Pregnancy Worthing Peace Group Friends of Taring Park Storm Ministries Different Noise Alexander McCreath

15

Worthing Community Partnership Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

9. Analysis of Support Costs

Staff costs (Note 10)
Printing, postage, miscellaneous office supplies, stationery
Advertising, marketing and promotions
Accounting, insurance, legal and compliance
Training, travel and meeting costs
IT and subscriptions
Depreciation
Independent examination Fees
Fee Payable to the Independent Examiner for:
Independent Examination of the Statements		 Unrestricted
funds
£
14,251
-
90
7,615
872
604
2,000
25,432		 Total 2023
£
14,251
-
90
7,615
872
604
2,000
25,432
2023
£
600		 Total 2022
£
18,835
195
144
4,500
290
451
2,000
26,415
2022
£
600

10. Independent examination Fees

Their standard charge of £600 is to be made for the year ended June 2023.

11. Staff Costs

The total staff costs and employee benefits for the reporting
period are analysed as follows:
Wages and salaries
Pensions
Total Staff Costs		 2023
£
13,755
496
14,251		 2022
£
17,862
973
18,835

The average head count of employees during the year was one. The average number of full-time equivalent employees was half for 2023 and one and half for 2022. A Workplace Pension Scheme, with minimum legal requirement of 8% since April 2019 of which the employer is only obliged to pay 3% is in place.

**2023 ** 2022
Number of staff .5 1.5

12. Trustee Remuneration and Expenses

The charitable company relies upon and greatly appreciates the goodwill, time and expertise offered by all volunteers. No remuneration or other benefits from employment with the charity or a related entity were received by trustees or other volunteers.

16

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

13. Tangible Fixed Assets

Cost
At 1 Jul 2022
Additions in year
30 Jun 2023
Depreciation
At 1 Jul 2022
Charge for the year
At 30 June 2023
Carrying Amount
At 30 June 2023
At 30 June 2022		 Land and
buildings
£
311,379
-
311,379
-
-
-
311,379
311,379		 Equipment
£
3,047
-
3,047
3,047
-
3,047
-
-		 Improvements
to Property
£
61,154
-
61,154
57,154
2,000
59,154
2,000
4,000		 Total
£
375,580
-
375,580
60,201
2,000
62,201
313,379
315,379

Depreciation was charged at 20% in the year on improvements work that was completed in June 2019

14. Debtors

Recycling income debtor
Other Debtors
Other property debtors and prepayments
Total Debtors
15. Creditors: amounts falling due within one year
Community Chest grants awarded not yet paid
Loan repayment due within one year
Other creditors and accruals
Total Creditors
16. Creditors: amounts falling due within one year		 2023
£
4,000
55,907
-
93,655
2023
£
25,383
-
600
25,983
2023
£
-		 2022
£
3,000
3,242
-
6,242
2022
£
25,803
333
600
26,736
2022
£
-

17

Worthing Community Partnership

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year Ended 30 June 2023

17. Analysis of Charitable Funds

Unrestricted funds
General funds
Designated repairs fund
Designated 3 month fund
Transfer to cover restricted shortfall
Restricted funds
Community Chest Grant fund
Transfer to cover restricted shortfall		 At 1 July
2022
Income
Expenditure
Transfers
At 30 June
2023
£
£
£
£
£
417,638
39,016
-25,432
431,222
22,557
-7,220
15,337
7,299
7,299
--59,413
-13,394
-72,807
388,081
31,796
-25,432
- 13,394
381,051
At 1 July
2022
Income
Expenditure
Transfers
At 30 June
2023
£
£
£
£
£
- 59,413
12,780
-26,174
-72,806
59,413
13,394
72,806
-
12,780
-26,174
13,394
0

Recycling income funds the Community Chest Restricted fund from which the charitable company makes awards of small grants up to £1,500, Grass roots grants of up to £750 and Seed grants of up to £250 to help local community groups, projects and local events. A list of the organisations benefitting from awards in the past year is in note 7 to these financial statements. Further details are available on request.

18