C￿￿panY registratk)n number.. l)4464386 Ownty regtstrati¢￿ number.. 1100603 Southbank Enterprise Trust Ltd (A crynpany by guarwe) for the Year EThled 31 Mwth 2022 'ABJ?Z0uz• 1911212022 COMPANIES HOUSE A12 #308 Southbank Enterprise Trust Ltd Contents Refere￿e NAminthatNe Eetails Siatement of Trustees, Re￿n￿￿lItieS Slatew*rt of Flnanaat Activths CuThert Pe￿d SCfA Bala￿e g*et 7t012 Southbank Ente￿rise Trust Ltd Reference and Administrative Details Try5tees MrKOla Principal Offlte FINspA￿ 22>229 SEVEN s￿ER ROAD FINSBURY PARK LON[ N4 2DA Company Registration Number 04461386 11(1)603 Southbank Enterprise Trust Ltd Trustees. Report The trustees, wh) a￿ directors fL¥ the wrroses of ccthpany law, prLfent the annual iepxt tcgether with ttre rinoncwl ststements of the chantsble comparry for the yea ernled 31 Mardj 2022. Objectbves and athitses The r￿￿f of povety, traknir¥Ji aml renta r￿ertak to further The tnths corfm tlsit tly have complied reqLlren￿ of section 4 of the Owrlties Att 2011 to have due regard to the putrAic gUIdar￿ wtlisw ty the ￿ality commi￿￿ for En9lDnd and Wale& Flnèftdal review t￿l￿e5. The anrrt￿l report was the tnrtees of the tha￿ ￿ 30 2022 aThJ 9gned on *s behaw Mr K Olaoye Southbank Enterprise Trnst Ltd Statement of Trustees. Responsibilities The trustees Iwfv) are akn the directors of Sovthbank EnterF¥ise TrLLSt Lfd fLV the purposes of crynpany law) are respon9tAe for preparing the tr7Jstees' repjt and the finanoal ststements in accordance with the UNted ngdom AccwnbThJ Standards (United Gwalty P£cuthtiNJ Pwti￿} a￿1 appltsblE law aThl gulatron& Company law wuires the truts to Slater￿￿$ fry eath f¥wKial ￿. UThJer ccrfnpary Law the tw*es must Thjt approve the fina￿al ststernents unth tly are sali5fied tK4t they gNe a true and fair ol the state of affairs of fv charitabje tL¥npBny and ¢A its tra￿1￿j rwJI￿ aTrJ aFVI￿atrOn of resources. including its income and expendibjre, for that perKKJ. In wepariTrJ these finarKial statements, the tn&ee5 are required to.. selert Sultsb￿ ￿C¢AIn￿n9 wAi¢ie5 arKI them obseNe rnethc*Js aTrJ prinopfes in the Charilies W; . make judgements and ¢stonatts that are rea￿￿able aTrJ pnthrt state whether applKable UK AccountsTrJ siandards have be￿ fclrjyed. swbprt to any maten.al departwes dixb5ed expI3ined In the fina￿￿1 ststerrerts.. and prepare the finandal knents on the gc#ng corKern b3S5 unlE5s it 15 WhlFWWiate to wesw thèt thE .tharitable company continue in i￿s¥ The trustee5 are resporfyble for keeping alequate accounb"rwJ rttords that a￿ fftnt to strw• aEKI explaln the charitsble companys transactions aThl dithe rets)naL4E &￿racY at any tirne the financial p0s￿C￿ of the tharitable cvmpany and e￿t4e them fo enswe that Ihe finaMOal ststerrrnts Comp￿ with ￿ ComparMe5 Art 2006. They are re¥￿￿ble for safeguarding assets ￿ the chdritrble company and hen￿ for reasonab￿ steps forthe prevent￿ aThJ dete(twM of fraud aThJ cther ryllanb" Approved by ihe iTUStees of the tharity w 30 NrNember 2022 arwj sgngj rts behalf by: Mr K Olawe Trustee Southbank Enterprise Trust Ltd Independent Examiner's Report to the trustees of Southbank Enterprise Trust Ltd I rewrt on the accounts or the tharity for the year ended 31 March 2022 vthich are set out cffj ￿ge5 5 to 12 . Respecti¥¢ responsibilltl•s of tn￿ and examiner The trustees (who ary also the diTert￿$ Lrf the comparty fry tr wpjses rf compjny law) are res￿)nS￿le for "the preparation of account& The tnjstees ccKNler that an aLKkt ￿ nct required tr thls year urnler secti￿1 144121 of the Charits85 Aci 2011 (the 2011 Att) and that an independent examinakn.on is reeded. Having gtr"sr￿d fflyse￿ that charty is rbt W to ccffipary law aThJ s ekgible for iTrJepeTrknt eXaminatic￿. it is rny respcnsibility to: exarnine the accounts under sedNJ1 145 rftt* 2011 Ac¢ to follow the procedu￿ laKJ down guY31 [krectiL￿ gwi ty the Charty Cunmission uThJer secb.on 145(5)Ib) of #* 2011 kt. and asls of independentexamlnerfs report My exarninatKJn was camed out in aCCc*da￿e wth ￿ ger*rn5 Liredicrt)s gwen by the ljwrty commis￿n. An exarninatN)n I￿l￿deS a ￿leW of the xCounts.￿ r￿ordS kept by the d)ailty a￿1 ccmparison of the attounts preserted those recor￿ It alw i￿lL￿deS consMlerd¥w of any unusual rtems (w disdosures in the amftts, and seekn.ng exptsTh3b"c*ts from you as tr￿teeS Con￿mIng arry 9xh fflatt￿s. The u[￿rtaken do not iyovide all the e￿dence that v*)ukl be requited in an audit and C￿seq￿nty rK) Opinic￿ is given as to whether tte accounts present a and fair the reFQrt is Imrted to Ihjse mattr.rf5 *t out ill thE *atement below. Independent examinerfs st*mert In coMecttc4) with my examinalK￿, no maiter has come to my attentirm: 11) whith gwes me reasonat4e cause to befie¥e that In ary material re5FeCt the reqUIr￿￿ts. . to keep accounting records in acccfthrre secknon 386 d the Ccwanies Att 20C6' and . to prepare acc￿nts whith accc*d wth the accountirKJ records, compty wih actOUAting requirements section 396 of the C￿an[eS Act and wrth a￿1 prirripks ￿ tt* 5tatemert of Recommendal Pra¢ltce: AccountiNJ and RepytiNJ ty (ja￿e$ not teen (2) tr* which. in my omryon. attert￿ SW te in oth to enatle a prrw understsndir¥J d the aCc￿Jnts Uthman Kay Lh3rtered Certs"f￿d ktountarts finsbury Park London N4 2DA 30 Novemter 2022 Southbank Enterprise Trust Ltd Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Galns and Losses) Totsl 2022 T¢)tsl 2021 In￿me and Endo¥mients frnm: Cther Incorne 12 Tctsl I￿￿ne 40 612 ￿12 Expendlture on: Ra￿Thj lunds Charitsble adM"I*s {34,325) 718 4,325) 124,458) Tctal EX￿￿liture Net incomellexpenditure) Net movement in fuThJs 2.$69 2,569 13,676) ' Reconciliatlon of funds Tctsl funds brought forward Tctal fvnds cartd lorvHd 14 ofthe charity's Ktmtres derive from cortIn￿TrJ cytrattsls the aLThe two The fun(ts b￿akth)￿n for 2021 is In note L4. Southbank Entery>rise Trust Ltd (Registration number: 04464386) Balance Sheet as at 31 March 2022 2012 2021 Fixed assets TaThJit4e assets io 48.239 51.957 Current assets Debtor5 Cath at bank and in harnl li 2,688 2,688 742 4.752 3,430 Cfedltors: Amounls falling due withln one y 12 950 Totsl as*ets less current ￿abIlli1eS 50511 52,907 Creditor&. Amounts falling due after movethan ¢)ne year Funds of the charitr. Unrestsi(ted income funds un￿stricted fuThJs Total funds 14 For the f￿￿401 y ending 31 Mwch 2022 the thanty was en￿lled to exempt#)n frcth aLklit ￿r set￿n 477 compan￿ Act 2006 to gIMI ccrfnp•ie& Cire￿¥ rwrffjibil￿es. membeys have Tr)t required tre to c**ain an awlt cl its acccrtmts fry the year ￿ question in cordance with section 476; aThl to accounling r￿ordS the prepaRtiM of actwnL These accounts have teen On a(C￿￿￿E apwrK3b￿ subject to the Smal companles regime. The financial ststements on p4es 5 to 12 v￿e the tnJ*ees. aThl athl5￿ ts Issue on 30 November 2022 ar¥1 sig￿e￿ on their telo¥ by.. Mr K Qmwe Page 6 Southbank Enterprise Trust Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 I Charity sta￿$ The charity is a tharity limited by guarantee dces not have Sha￿ capbl. Eath of the is to contribute an arrK*Jnt rK* exceediry £1 towards the awts of tharity in the evert of liquidatim. 2 Accounting poli¢ie5 Summary of slgnlficant ac¢wrrting poli¢ies and key a¢Lwnting esiimates The principal a￿O￿nIing pc4ioes in the pwaIBb"C￿ of these financkil Stater￿rtS are Set out tekn¥. These pdioes 14i¥e teen (￿S15ten￿Y to al the j￿r5 ￿￿erted. th)*ss cknise *ated. statementoff u>mplian¢e The finJn(ial siatenEnts have toen yepared in with kcountiryj and Reptyiing by Char(tles: S13tement of Recommended Practke appfK3b* to charibes prepariTrJ Ilw ac£ounts in accordance with the nanaal Repc*ting StsTKtard apF4tsble in the UK and rA Ireland (FRS 102) (effective l January 20151- (Chartes SORP (FRS 1021), tt* Fina￿￿31 Ret*yb"TrJ stsnd*d app￿ble ￿ the UK aThJ of IrdaTrJ IFRS 1021 and fv CrynpanE5 Act 20C6. Basis of preparation Southbank Enterprise Tn￿ Ltd n*ets cl a benrfrt ￿tity uThJer FRS 102. Assets aThJ liablit*s are inith.alty recc4Jnised at h&oital cost or Ivan￿dic￿ Val￿ ￿le￿8 rIhuwi￿ siatEd in the rdevJrt attounting t￿lic¥ Th)te& Goin9 concern The tru#ees cons#ler tt*t tlwe ère matenal urKertainbe5 atvjt the chanvs abw to continue 35 a gThr¥J Cc￿eM nor any signfficant aw5 of urKertainty that affett ￿ ca￿￿Thj value of assets held ty the tharity. Exemption fr(*m preparing a osh fl¢)w slatement The charity Wed to earty adopt ￿lletsn I publthed on 2 Felnwry 2016 IHve thereth r¥)t i￿luded a cath flow Staten￿nt In t￿e financial 51aternents. Income and endowments Rertal inc¢me Expenditure AJI expertdrture s recognised once there is a W ¢x con51nth obtytion to that expenditure. it is pL)bable S&￿ernent is required aTh1 the rnnt can be measlred rdabty. cosL£ a￿ alkyated tD the 6ppkaL4E expenditure heading that aggregate similar casts to ttkif category. WtrErE Costs cannot te direcdy at￿buted to parkncular headings they have teen akKated cffj a bass con9Stert with the use of Ips￿￿. with Central staff co#s allocated on the bags of time sper( aTrl depreaatsl￿ tharges alkoted on the of the asseys use. ' Other costs are alkxated based the sweal rf staff cost Southbank Enterprise Trust Ltd Notes to the Finanaal Statements for the Year Ended 31 March 2022 These a￿ co4s incutTed in allraLtry vduntary tr* nK?nagei￿tt c4 investsnerts and its)se Incutted In t￿yIng atbvIt￿ that r•tse fu￿15. Support co*s indude funth.ons and have Lw7 ak(ated to c05t rategcoes on a basis c￿Sts￿nt the ￿ of resources. fijr wmtAe. alk(atirwJ co95 ty IlcKJr or per caF4ta, staff costs by the lime s*nt aThl costs ￿ tMYr wge. These indude the costs aiiritthble to charivs valh consbth.onal and ststuw rewirements, ud￿g strategic mawunpJrt aThl In￿e&S aThJ ￿lMI￿jrSed Taxation The charity is cfjngdered to pass the tests sÉt cojt In para￿ph I Schedule 6 ￿ the Finance Art 2010 arKI t1*ref￿e it meets the defin￿￿ cl a tharikt4e company for UK tax PWFrf)5e& knrdingly, the charity is potenb.ally exempt from trxa￿ in cl income or camol gains received within categories Covera by thak*er 3 Part 11 the Tax kt 2010 or Secbcn 256 of the Taxab'on of Chargeable ins Art 1992. to the extent ihat SLth irKome or gaIr￿ are app￿ eXd(￿ to thar((able purposes. Tangible fixed assets lfftaividual fixed c05tiw £5￿.(￿¥ LY we recc￿ded at cos¢ less subseqL*nt acamukited deixrffathjn and sthequert ryairrr*nt Depreckitsjn ￿ wovided on tsngble f￿1 assets ￿ as to ￿lte off the cost or IrdIuatic￿, less any estirnated Asset class offi￿ EQ￿pmert L￿tKId Improvwnents stra￿ht line- 25 Stsatght line- 5% Trade del Trade debtcKs a￿ ￿nts due from for Thwthandlse 51*1 the ￿lInary cc¥J￿e of t#J5ir*ss. Trade debt￿S are rec(MJni*d iThb"alty at trice. sub5equerth measured at 4mrllt45eiJ cost using the effecbve intwest method, less for imp￿1￿￿ A fty impaim*nt of tnde debtors Is established when os C*)￿tiVe charity 7AiII not be alle to cc41ect aTh amolmts due acccrfding to the original tems ￿ the ￿(e￿at￿. C•sh and equivalents Cath and (ash eqwalents rash on 1¥3nd aTrJ can aThJ ots shcrt-tenn highty Iyuld inVestr￿ts that are ￿adi￿ ccfftvewtible to a kw*m alr￿U￿t of cath aTh1 are subiett to an irsbjrnficant rbsk of thange In Southbank Enterprise Trust Ltd Notes to the Financial Ststements for the Year Ended 31 March 2022 Trade creditDrs Trade ¢Jeditors are obl￿1￿)n5 to pay fcf woJ5 or S￿eS that t*en acquwal in ￿ ordlnary courye of business frryn suprAiers. Accounts poyatrAe are da59f*d as cunent kat#l*ies * tr* charity t*)es not have an uncondthnal right. at the end of the repytiry perKd. to defer settbement of the uedrtor for at least months after the rewrb'ng dale. tf there is an urKOndft￿al r¥Jht to dder for at kast m¢xrt after the re￿ting date. t￿Y are presented as non