Conipany regithtb)n nutrtr: 04464386 Chanty registr number: 1100603 Southbank Enterprise Trust Ltd {A company limed ty glrtee) for Year Ended 31 Mwth 2024 •IDTRMZ 0710112025 CONIPANIES HOUSE •OD1•Jfv15U' 1911212024 CCWPANIES HISE 65 1 27
Southbank Enterprise Trust Ltd Contents ReferKe AdrniTh5trdti¥e Eiails Trustee5' RerArt ststement of Trustees. Respsiknlrfi25 IndeFondent Examinerfs Repjrt Strte*t rf naral AclMb"es Current Perxxl SCFA Balance Sheet Noies to the Finarwl Statements 7t012
Southbank Enterprise Trust Ltd Reference and Administrative Details Trustees Mr K Claoye Mr C Akar*Je Prindpal Office FINsPAI 22>229 SEVEN SIER ROAO FINSBURY PARK LIJNI N4 2DA Company Re9lstratiort Number 04464386 Charity Reoistratloh Number IIOOE4)3
Southbank Enterprise Trust Ltd Trustees. Report The twstees, who are dirertors for the pUr)Se5 of cunpary kw. ptesent the arrnal ttyJether with the rial statements ofthe.chartabk ccffipany fy the year eTrJed 31 Marth 2024. Objectives and artivitits The relief of poverty, trawwrq, aThl rEntal slWe> PublKbenéfit Activits undertaken to furtheT public bet The tnJ#ees confimi that they have complied the wuirements of settN)n 4 of the"CharIt 2011 to" )ve due regard to the put benefrt guKlance published by the th)rity ctynmisn for ErYJland and Wales. Flnancial review trusiees conshler that a rrnnths co& be set tyje as reseves in Itnce of the its actwities. The annu rep)rt was apprrNed by the trleeS rl tr* thaity on .. .. and 9gned on 6ts behaw bv.. Mr K (Jaoye Trustee
Southbank Enterprise Trust Ltd statement of Trustees. Responsibilities The trustees I0 are akn the directors of Souihbank Entefprise Tru Ltd for the pwpos of company lawl are sponslble for preparing the tsustees. repcrt the fina?1 aterTts in accoldar the Unfjted Kingdom Accountr"ng Standards IUThted .Jd0M Generalty Accepted Accounb"n9 Practi> and )ppliEabte Law and regulations. Compary law require5 the iru5tees to pryre finamal 5t3temerts for eath fjn3ncial year. Untler company law the trustees must )t approve the financial statenws unless a SatIled that tW gNe a true and fair ew of the state of affairs of charitable crynpany aThl c< its irKwiiThJ re9)Ur and aF?J41ty"¢ of resources, inclvdiwwJ its income arKI expewkliture. for that FeritKI. In wepariThJ these finawl stÈternents. the truth5 are required tri.. sektt suitatAe accountij pcdicres aThl arp ihem cSsntI.. obseNe the rnethtrjs arxl Pn0pS in.rhe cforrts SORP; make judgerwiLS aThJ ethmates that are rea9xobk arm1 prlthnt: te whether applicabk UK Counti Stsr¥Jards have ten fdlowed, 9Jbject to any matttial departures disch)sed and exr4ained in the financial aternents. and prepa the fandal statements cffl goir¥J Cffl ba9"s untess inapkyopriate to pre5Lrne ihat tr charitable ccnpany win continue in bUr. The trustees are respon9b for kewn9 a1equate accounb.rrfj records that a suffKnt to S>W and expbin Ihe haritsble company's transadlons arxfj discjose with reasor4ible èccurary at any b'rre the fin0a1 txisjbon of the charitsble company and enable them to ensure that the finaroal #aternents compty with the Compares Acr 20C6. They are a19J reSpOlbIe for 5afe9uarding the asts charitable ccxnpany and for taking reanae steps for the k¥evention and den c4 fraj aThl cther irwukirib Approved by the trustees of tr.e dwrity on .. ...... ........ and >Jned on ts bthaff fy":" - Mr K Otsoye Trustee Page 3
Southbank Enterprise Trust Ltd Independent Examiner's Report to the trustees of Southbank Enterprise. Trust Ltd I T¥t on the accounts of the thanty year eTrJed 31 March 2024 whth are set pages 5 to 12 . Respective responsibilities of tTUStees and exarniner The trustees (who are also the directots of tt company for the purp of company law) a respcwbte for the preparati of ts a(Cnts. The Iwes ccngder that an aLK1rt is not required for this year urbjer ction 14412) of tts Charfties kt 2011 (the 2011 Act) arnj thai an examinath)n Is needed. Hawng Satie my%tf that the charity is r1 gJect to audit uThJer ccffjpany law aThJ is eligible for iThdepEndent examination, it Is my re¥KJrwbility to.. examw the accounts uThJer sectlon 145 d the 2011 to follow the prcLedures laid ¢Jwn in the tectyorts gNen by ihe Charty CcnrnissiM under seth( 14515llbl of rhe 2011 Act; aThJ to stste whetrtr parttCLAar matters ccv¥ to my atte. Basi5 of independent examinees report My examinatyon was camed otst rn accL¥dan wilh gerral DirertiOn5 gNen by the Charity COmmiOft. An eXarninab irKludes a wiew of accountsThJ rectyds kept by the clwrity aTrJ a comparison of the xcc4Jnts presented with those records. li also incllkn con5KJeration of any unusual rtems N discbsures in the accounts, and wkJ"r#J ex9tsnati¢ frryn yryj as trustees CO[nINj any suth rnatters. The pr(edureS undet7aken do not provide all t evNJerKe that w(yJkJ be requiod In an and £onSeqtty no w'nton is given as to whether the accounts present a Yrue and fair port s limrted to those mbttws set cwjt ts) the stateffient tel¢. Independent examir•er's statemert In conneLtion v4rth my exanatiOn, no matter has come to my attentw.. jl) which gives me rea50pate cause t-o.Wve'thal in any This-:erial rett the W4uirem?nts'. . to keep accwnting records in aCcdan th sectKJn 3BS of Companie5 ALt 201. aThJ to prepare accounts which acconj the accoJnbrvJ records compty with the accounting requirerr*nts of sedhx 396 of the fynpanies Art 2( aryl th the meththts and" PrilpleS the Statement or Recomrrended Pr&iice'. Accountiro and Ren9 by Charibes ¥e not been met; or 12} to whKh. in my opinic, attent1 be (kawr) in wder to enabk a prw lerStlij of the accounts to be reathed. Chartered Certffied P£cwrtsnts 22S-227 Seven s'stsrs Road. Finsbury Park Lwdon N4 20A Date". e4
Southbank Enterprise Trust Ltd statement of Financial 'Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrirted funds Total 2023 2024 Income and Endowments from: OV*r incorne rotal IKome 48 io Expenditsre on: RaigThJ funds Chantable act5 {44.067) {44,067) 129,6391 Totsl Expendth Net lexpendrturellirtome Ner movemenr in fur#1s 15.3731 15,373) 2,029 Reconciliation of funds T¢Xal funds brought f()ard Total fvnds rrIed fcThard 14 All of ttie charitys actwtties derNe from conbnuirMJ r•uab@dUrJ atrxNe ts¥o petiC#iS. funds bakdOwn for 2023 i5 SI in note 14.
Southbank Enterprise Trust Ltd , (Registration number: 04464386) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets TaNJible assets io 40,803 44,521 Ebtors . Cash at bank and in haThl li 2,688 12 2.?DO 10,650. Creditor&' Arnots fallitsg due w•thin one r 12 Ilet currert (li)bllities)la%ets Total assets less turrert l•abilities 35,325 46,993 Creditor&" Amounts falling due after more than one v 13 Funds of the charity: UnrestriLted inc<me fvn Unrestn'cted funds Totsl funds 14 For the fInanc year eThJiThJ 31 March 2024 the chwjty was enbtled to exempDon frcffl a111 ter SeOn 477 cl Companies Act 2006 rdats"Tr4 to smal tn$. The members have not requirtd the chwity to Ob of ts accourts for yw in qSt)n in accord4n th section 476. aThJ The diretto aCkndge for crrWyiry the requirements of the Act with respert to acCounrIj records and the wepmknn of acJrt> These attourts have been prepared in ac£ordarKE with 19- apF4Kabbe to companies 5ubiert to Ihe smam ccryanies regime. The finarrial ststements C p•]es 5 to 12 were aw¥wl ty the trugees, authond for issue L¥) . arKI signed bei4f i)y: Mr K Claoye. Page 6
Southbank Enterprise Trust Ltd Notes to the Finandal Statements for the Year Ended 31 March 2024 I Charity statss thority is a charity limited by guawantee a1 corwuentty dr5 have glare caprtal. Eath of the trustees is Ih)ble to cartrilie an amount nrt exceedw¥J £1 towards ttle assers of the dmrity in the event of qUKIotK>n. 2 A¢counting poliues Summary ol sl9nificart accounting policies and key accountin9 estimates The pnncipal accounting pole$ appl0 in the preparatL(m of finanoal slatenErts art t ¢xrt below. These p)Iws have ten con9Stentty aFvld to all years preserted, wikss rAIlse aated. statement of tompllance The finaTal 5tatennts haye been epal in acCtsre with Accountirwj aThJ Retil¥j by Owrits'. ststeftnt of RecomrnefJed PractKe applKable to tharilies preparing their accrNJnts in accordance with the nancial ReportiThJ StsThJard aF¥AicaWe in the UK arKI Rv541[ of lthrKI IFRS 102) leffeLtive l January 20151- (Charitses SORP IFRS 10211, the Fina11 Reryt"ThJ stsnda pable in UK and of freland IFRS 102} aTMI the Companies ALt 2006. Basis of preparion Southbank Enterprise Trust Ltd meets the ¢Jefintrm of a pthic benLfrt entity under FRS 102. ?nd1obllits"es are inifialty recLNJnised at historical cog or trans3ctiM vhlue unkss ol1e stated in the relevant cOUntIng pdicy rMJte5. Going Concern The trustees consider that there are no material urThi3ints atKyJt Ihe thartys abdity to conts.nue as a g¢ing COnM rw any ggnificant aaS of uncertarnty ttt affed the (artwTrJ value of assets Iteld by the charity. Exemption frnffl preparin9 a cash flow strtement The charity earty a(k)pt Bulleb"n I publshed on 2 Fetruary 2016 awKI have Ihereffft not 1rt1jed a rash now statement these fina1 ststements. Income and endowrnents Otherincwi Rental income Expenditure All expendiiure is recrJnised orKE tThe 15 a leg or con#rlive obIgat to that expenditvre. rt is prOba'e settkment is required and tt amount can te measured reh"ably. costs are all(Aled to the applicable expendrtwe heajing that aggregate %milaT coAs to that cate9w. •mre costs cannot be directly aitributed to particular headings lthey have toeTr allc(ated a ba$s cons&ent with tr Lse of resour5, with central staff costs alkxated cffi the bags of time srent, and tharges alcded on the pJrtion d the aVS u. Othef SUPPYt a alktsted based spread of aff CO
Southbank Enterprise Trust Ltd Notes to the Finanaal Statements for the Year Ended 31 March 2024 These are costs inamred in attracb.ng rKorr£, the man)%meT of investments and those irKutTed In trèthng acti¥f(S that raise [ 04iritsbfe exrEn(liiure Lrynprrses those by the chanty in the delNEYy of tts attivities and seThKes for its benefioars 11 indudes Lth rosts thal can te alkted d1CY to such artwib.es Ihose costs of an indirert TraTe netessary to suppyt Ilm. Supwt costs . Supm Costs iude central functH)ns arml have been alk<3ted to actiwty cost taiegorEs on h ba&s ccfftystent with the use of resour, for example, alkKaiThJ pr(Wty costs by Ikx aa5, rer catxts. stsff costs by the tTrTr n[ a1 rAher c051s by their vstye. Governance costs These Ilude the coAs atIn.btIe to the chth5 tm?liarKe st"0Tra1 ark1 statutory lfernents, nduding audrt, 5tratew manwJement aTrJ twstees's meeiings 1Th#Jrrd exls£s. Tax•tio The charity fs conshjered to pass rests set in PatBgraph I SchethJle 6 of the F[Tran Art 2010 and therefore rt meets the defIn"On d a charitable company fLY iJK coratIon tax purpose5. Atcordingty, chTitv 1% Mtenbally exernpt frryTh tsxats.( in iespLft of iome or capthl 9ains rKeNed r3tegorte5 covered Chapter 3 Part 11 of tl Corporati¢)n Tax Art 2illO OT Sects. 256 of the i axalion of Chargeaixe Gains Act 1992, to the extent that such irKome or 9aW)s are appled exdugvety to charitsbie purk¥)s Tangible fixed assets IndidY31 fixed assets co"ng £500.1 or nKYe are retorded at cost. kn any subsequent &cumukited Depredatlon aftd amorti$A DepFeciabon 15 provukd on taroible fixed assets g) as io write off c05t or valUan, kn any eMated resdual value, over tha"r expected useful eCor¢C hfe as 1thl)ws.' Asset clas5 Office Equipmth Leasel4d Improvements Depreciation method and rnte StravJht line- 25% Trndtt debt9 Trade ¢Jebtor5 are arrK)unts due frcm ojsttsws 17chalse 5dd or sewwces perf¢jrnd 41 the cnlinary CoUe of bugness Trade debtor5 are recLy)n iwwliJty at Il trsart r. Tfv a gJbseouentty measured at amortjsed cost Vgrvj the effectNe irterest rnethcxl. less prow> f¢y impaiment. A provssion for the impaimient of trade debtors is e51ablisW when there Is cèJeLti¥e evthKe that the wiu not able to crAlect all aMots di acuKding to the ¢Niginal terms of rlal*S.
Southbank Enterprise Trust Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Cash and cash equivalents Cash and cash eqwalts coryise cash haryl arbj caTr ar%1 other short•terrn 1?1¥ IVId e5trrnts that are readity ce4iv•tit4e to a kwn amwnt of cash awKI are subiett to an insvjnificant rigk of change in wae. Trade creditt¥rs Trade creditors are lgatiOnS to pay lor gcxjts or semces that have been ¥quired in the OTdinary course of buslness from pplie Accounts Payab a das9ftd as current liabilitses rf the d)arity does not have an nconditial right, at the end of the reptir¥j rencxj, to defer settkment of the credrtor for at least ts¥elve months after the p(lThj date. If there is an urKrmdb(Xkil right to defer settknient fw at lea¥( h¥elve months after the Terting date. y"are posented as rth-cwrent liabil.eS. Trade creditor5 a L¥JIsed initi&ty al tTansacb"(m pe and subseouenty rreasured.at amrmtised cosi Fund strnrture Unre51ricted income funds are general that arr avalaNe for use at the Itee>S disoetil in furtherance of the objecbves of the thath. . L•nrestrithd Total 2024 General 2023 Fee5 supph'es 4 Expenditure on ralsing fvnds a) Costs of trading actlvities funds Totsl 2024 Total 2023 Genernl ted supt#Jt costs Page 9
Southbank Enterprise Trust Ltd Notes to the Finanaal Statements for the Year Ended 31 March 2024 b) Investment m•wgem•nt ¢95ts Totsl 2024 Total 2023 ocated suppcrt CC6ts 586 586 Trtal 2024 S Expenditsre on charitsble arti¥itie5 nds Total 2024 T4)tal 2023 Genetal ocated suppjrt coas Governano cosrs 5.898 5,898 7,103 9.616 ID.821 £Nil 12023 - £Nill of the atove expernjitwe was attrilMtst4e to unrestrid& funds and £Nil (2023 - £Nill to rethtted furmjs. 6 Analysis of govenwftce and sUp1)t costs Governance $ts funds Total 2024 Total ..2023. Depreckiti"Dn. arnC*tsatn aThJ simlar coa5 Pa9e io
Southbank Enterprise Trust Ltd Notes to the Financial Statements for the.year Ended"31 March'2024 7 Nrt incorningloutgoing reswrcts Net (tgoi)Iwofing resourtes fLY the yew 2024 2023 fixed awts Trustees remuneratlon and expenses No try5tees, nor any per cMnected them, have arry remunewatK)n frl the tharity dwing the 9 TaxatioD The tharity is a registered tha1 and is thereftre exernpt fvom tayatm. 10 Tanylble flxed assets Land and buildin95 Furniture aDd equiwTrtnt Total Ai l April 2023 At 31 Marth 2024 Depreciation At l April 2023 Charge for ts year 7.593 9,496 17,089 At 31 M)rch 2024 Net botsk value At 31 Marth 2024 307 At 31.March 2023 Indwleil Mthin net t#Jk e of laThJ and bJ1th"t attye t5 £PI (2023 - £N). in resp d freehohj knd and tNJldirrfJs aTrJ £40,496 (2023 - E43,027} in restrt of lease1h0* 11 Debtor& 2024 2023 er debt5 Page li
Southbank Enterprise Trust Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 12 Creditors: amounts faming d¥e within one 2024 2023 Trade uedltors other uedr(or5 Acuuals 8,178 2,0 5,698 430 13 Creditors.. amouhts falling due after ¢Jne year 2024 Z023 Bank loar 14 Funds Incomin9 Resour expended Balance at 31 MaTch 2024 Unrestricted fvnds General 1th83tO In¢omin9 Res0ree5 expended Balance at 31 March 2023 Unre5trirted funds Gener IS Analysls of net assets between funts 16 Ansls of etlunts At 31 March 2024 At l April 2023 Cath flow Cosh al bonk and in hand (7,9501 12 Net det 7,962 17.950) 12 P•Je 12