2021-12-31-accounts

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We believe in youth

2021 Report and Accounts

Registered Company No: 04881803 Registered Charity No: 1101519

INTRODUCTION 03

Introduction

The Trustees submit their annual report and accounts for the year ended 31 December 2021. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102).

Since the Charitable Company qualifes as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.

Objectives, activities, achievements, performance and public benefit

The Charity’s core objectives, as set out in the governing document, are currently to:

Promote and assist in advancing education
Promote, or assist in promoting, community participation in healthy recreation
Provide, or assist in the provision of, recreational facilities for other organisations, in the interests of social welfare and with the objective of improving the condition of life for those for whom the facilities are provided
Relieve sickness and disability and to preserve and protect health; and
Promote any other purpose that is charitable in English law.

Executive Management Team Terry Baxter, Chief Executive Andrew Crump, Deputy Chief Executive Rachel Reddington Karina Scrivener

External Auditor

Board of Trustees

Amanda Ankin (resigned 10/02/2021) Derek Bowden Liz Brownsell (resigned 24/01/2022) Roger Fern (deceased 27/04/2021) Julian Herbert Kate Hughes (resigned 04/07/2021) Terry Hunt Harriet Johnson Cara Miller (resigned 13/12/2021) Julie Shurrock (appointed 30/03/2022) Nigel Smith Christine Walters Alan Whittaker

Scrutton Bland LLP Fitzroy House Crown Street Ipswich IP1 3LG

Bankers

Kate Hughes (resigned 04/07/2021) Patrons Terry Hunt Cassie Bendall Harriet Johnson Peter Dawes Cara Miller (resigned 13/12/2021) Alicia Garrad Julie Shurrock (appointed 30/03/2022) Adrian Dodds Nigel Smith Steve Flory Christine Walters Matt Holland Alan Whittaker Simon Jay Pat Lewis Board Sub-Committees Include Tom McGarry Finance and Employment Neil Miles Programme and Outcomes Andy Perrin Nomination Committee Neil Prentice Bill Tancred, MBE Dave Ward, OBE Richard Wood

Barclays Bank 1 Princes Street Ipswich IP1 1PB

Lawyers Birketts LLP 141 - 145 Prince’s Street Ipswich IP1 1QJ

INTRODUCTION	02
Chair’s Statement - Terry Hunt Chief Executive’s Statement - Terry Baxter	04 05
TRUSTEES’ REPORT	06
Our aims	07
2021: Achievements and performance	08
Helping young people reach their potential	10
Inspire Stories	12
Snapshot of 2021	16
Our plans for 2022	18
Financial Review	20
Governance and administration	22
Statement of Trustees’ responsibilities	23
ACCOUNTS	24
Independent Auditor’s report to the member of Inspire	25
Accounts for the year ended 31st December 2021	27

04 INTRODUCTION

INTRODUCTION 05

Chair’s Statement

I am very pleased to report on another successful year for Inspire in 2021, despite the continuing impact of the Covid pandemic.

Thanks to the outstanding efforts of the Inspire team, the organisation continued to provide wide-ranging support for young people and in many cases helped to transform lives.

We were able to carry on with our relatively new well-being service, and the demand clearly demonstrated just how important this kind of support is in today’s society.

I would like to thank all of the Inspire staff who worked so hard to enable this remarkable organisation to continue with its crucial work. I am also pleased to say that we ended the year with a very satisfactory financial performance.

In addition, I thank the Trustees, who have provided invaluable support and expert guidance to our Chief Executive and the senior team. They give their time and wisdom very generously.

After nearly two years of relying on the wonders of technology to hold virtual board meetings, it is very refreshing to able to gather in the same room!

During the year, two Trustees resigned. We thank Cara Miller and Kate Hughes for their contributions. We will be welcoming some new Trustees to the board during 2022. I would also like to recognise the contribution of our Business Patrons, and welcome two new patrons, Adrian Dodds and Neil Prentice.

Our Patrons give their time and wisdom very generously, and their support in encouraging and inspiring our young adults is greatly appreciated.

Inspire’s focus remains the support of young people who experience severe disadvantage and social instability, and we work to help their reintegration into society.

As ever, we are very grateful to our funding partners and, in particular, the support of East Coast College and Suffolk New College.

We continue to have strong partnerships, including EDF Sizewell C; East Suffolk Council; Suffolk County Council, Ipswich Borough Council and Suffolk Police & Crime Commission.

Thanks to the outstanding efforts of everyone associated with Inspire, the charity has been able to continue its vitally important work despite the unprecedented challenges of the last two years. We now look forward to operating in a more “normal” environment!

Terry Hunt, Chair

“Inspire’s focus remains the support of young people who experience severe disadvantage and social instabilities.”

Chief Executive’s Statement

The year that started under the cloud of the pandemic ended with the positive news that our Felixstowe programme that delivers the Prince’s Trust Team qualification has won a national award for its cross generational community impact project. The group worked with older members of the community (65+) and asked them to write a letter of advice to their 16-year-old self. The group collated and published a booklet to support their work.

2021 started as the previous year ended with the organisation working mainly remotely as it continued to deliver its much-needed services to young people in Suffolk, North Essex, and South Norfolk.

The fact that we were able to continue to make such a huge difference to those we engage with is, in no small part down to the outstanding commitment, dedication and resourcefulness of our staff. Despite dealing with their personal pandemic challenges, our team never lost sight of our mission to help young people to make the very best of their potential.

So, 2021 ends with the Charity in good shape, both structurally and financially. However, we are not blind to the challenges ahead, with increased running costs, retaining and recruiting staff and over subscription of potential funders all very much at the forefront of our thinking as we go into 2022 – we’re ready for the challenge.

Core programmes, including Team, Step Up and the National Citizen Service (NCS) continued to perform well, with NCS reaching more young people than ever before. The new team, responsible for recruitment and delivery embedded well and has proved successful giving the organisation confidence that the service is set to grow further in 2022.

The first quarter of the year saw good numbers taking advantage of the remote learning packages, with an average of 85% attendance. As a charity, we were able to help achieve this by way of loaning laptops and tablets to students who would otherwise have been unable to continue with their learning.

Terry Baxter, CEO

Following the end of lockdown ’21, the Charity continued a blended approach to our delivery but with a bias toward face-to-face learning. This continues to be our preferred method of delivery, but we constantly review based on needs and access and indeed virtual learning provides a service for those in isolated rural communities with poor or no access to public transport.

“Our team never lost sight of our mission to help young people make the best of their potential.”

The Wellbeing Service that the charity piloted in 2020 has grown stronger in the last 12 months as need continues to drive demand. Funding is a constant issue relating to this service and we are constantly working with potential funders and partner organisations to find a more sustainable model.

With funding in mind, the Charity re-established its annual fundraising ball in October and achieved its best total to date. This in no small part was down to the extraordinary generosity of those in the room and to three auction prizes donated to the Charity by the Suffolk singer-songwriter Ed Sheeran.

06 TRUSTEES’ REPORT

TRUSTEES’ REPORT 07

Our aims

We believe in youth.

We are on a mission to ensure that all young people have timely access to services that support Education, Personal Development and Wellbeing.

Each day, we work at the forefront of helping young people to overcome challenges and make positive next steps forward, back into employment or further training. We offer life changing personal development programmes, motivational education courses and engaging sport activities that local young people may not otherwise have access to.

Our services transform young lives, tackling a range of issues that they are facing. Students learn new skills and qualities to enable them to work as a team, build selfesteem, manage mental health issues and gain key skills, that they can employ not just in work, but in life. As a charity, we believe sustainable outcomes are paramount to ensuring our students can not only start the next chapter of their lives with confidence, but continue to move forward in the world.

This year has seen us build greater financial independence to enable us to better respond to the needs of our young people and their communities.

“We want to see generations of young people empowered to raise their ambitions and realise their potential.”

TRUSTEES’ REPORT 09

2021: Achievements and performance

“Inspire’s incredible work invests in offering vital skills and opportunities to help transform young lives and we are delighted to be part of that vision.”

INAWISDOM, INSPIRE + MEMBER

10 TRUSTEES’ REPORT

TRUSTEES’ REPORT 11

Helping young people realise their potential

A new approach to youth development

This year, our Youth Employment Service (YES.) has become a central aspect to our delivery, creating a consistent point of contact for each participant.

Traditionally, young people may have been passed between agencies but this one-to-one service allows them to have the support of our job coaches throughout the entirety of their journey into employment.

Each young person we work with is unique. Their journey could have many phases through several workshops, courses, work experience and psychotherapy, or it may be a one-off intervention. This is led by the participants own needs, skills gaps and aspirations which shape our package of support. With this new approach, we utilise both our own services, and those of other local suppliers, creating a collaborative approach to supporting our county’s youth.

Based on feedback received from our Learner Voice, we have improved and developed our services to be flexible, pro-active, and continually evolving to answer emerging needs and changing landscapes. Over the last 15 months,

our services have secured funding to operate across Suffolk and are now a hybrid of both a virtual service, introduced during the pandemic, and our original face-to-face delivery model to ensure even young people facing barriers, such as rurality or anxiety, have access to the same opportunities.

NCS

Through partnership with NCS, we have supported education recovery post-lockdown with transformational youth development programmes for those aged 16 - 18.

Working with 28 schools in Suffolk, we provided nonformal learning and enrichment activities to 213 students to increase their employability, develop skills as they take their first steps out of compulsory education, and create a county of compassionate and caring citizens.

Students embark on exhilarating challenges and use social action to make meaningful change within their local community. This year, students raised almost £2,300 and supported a range of local charities including Suffolk Prickles Hedgehog Rescue and Ipswich Outreach.

“Feeling heard by an authoritative figure made a big difference. Inspire helped me to recognise that I needed to put myself out there to grow as a person.”

Team

During 2021, the 12-week Prince’s Trust Team Programme remained one of our most popular courses, engaging over 130 students across Suffolk.

Embedding qualifications, as well as soft skills, to empower students to take their futures in their own hands, the programme is designed to challenge young people in a safe and supportive environment and equip them with the resilience and self-esteem they need to feel ready for the next step.

This year, we introduced wellbeing workshops to the curriculum to tackle growing concerns around youth mental health. Our surveys show that 79% of young people thought Team had improved their confidence and 73% of Team students’ emotional wellbeing had improved during their time with us.

Step Up and SWAP

Our Step Up programme continues to provide structured, industry-specific knowledge to improve the employment prospects of young people, between 16-25-years-old, by equipping them with a start-up qualification, skills and the confidence to be ready for work, gain employment or move on with their lives.

In 2021, we also ran Sector-based Work Academy Programmes which intergrated work experience into the traditional Step Up format to help students re-engage with the working world following the pandemic.

We have continued to build networks and relationships with local organisations to further bolster the course with meaningful experiences that show young people the realities of the working world or help open doors to new opportunities.

“Things really are looking up and positive now, and a large part of the reason for that is Inspire and their staff who have helped me to develop.”

TRUSTEES’ REPORT 13

The Wellbeing Service

Our feedback has shown us that: 95% feel more positive about their future 97% have seen an improvement in their well-being 99% would recommend the service to a friend 100% of service users have made progress in three or more outcome areas

Throughout our work, we found many young people were being held back due to barriers they were facing with their mental health. For many young people, the pandemic was set to magnify these issues. As a result, we rapidly developed a wellbeing service to provide virtual and face-to-face support for 10-25-year-olds.

“I would be very upfront and say that it is one of the best services for young people. As someone who has used the service themselves, it has brought me on such a magnificent journey; I have learnt so much about myself and others”

We have further expanded this service over the last year to embed mental health workshops, delivered by an accredited psychotherapist, into every one of our programmes, so all students have access to the tools they need to deal with their mental health in a positive way.

“I don’t feel like my sessions are just ticking boxes like the doctors I’ve seen before, the sessions are personalised to me.”

PHOTO FROM A SERIES ON MENTAL HEALTH BY XENIA, FORMER STUDENT

TRUSTEES’ REPORT 15

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“Gaining the CSCS card meant that I could finally find a job.”

DILLON, OUTSTANDING ACHIEVEMENT AWARD WINNER

Dillon’s story

Dillon was having a crisis of confidence when he reached out to Inspire who had supported his brother in the past. He wanted to move forward with his life but had his dyslexia had held him back in the past and the lockdowns meant he felt more isolated than ever.

When he started the Step Up Construction course he was apprehensive but he was assured his dyslexia needn’t hold him back. He started to come of his shell and completed his Health and Safety qualification to a very high standard. After putting in the hours revising with his tutor, he also passed the test for a CSCS card, gaining everything he needed to step onsite safely.

Following the course, Dillon found employment and has already told his friends about how Inspire’s support helped him gain the skills he needs for the future.

Clubs and School Sports

Our coaches continue to support teaching staff by providing specialist Sports Teaching and Continuing Personal Development (CPD) of staff teaching Curriculum PE. Our sessions aim to inspire children to take an interest in their health and education at a young age by providing opportunities to learn new skills and get moving.

In 2021, our affordable holiday clubs supported local families with help from Ipswich School of Dancing. Each of our clubs is jam-packed with fun activities to keep children active and engaged during the school holidays.

Hire

We have a range of spaces available to hire in Ipswich and Lowestoft, including large events space, classrooms for meetings and sports facilities that enable us to provide a lively hub for the community.

Our spaces are multi purpose and provide unrestricted funds to power our work. This year, we have provided spaces for fitness classes, churches, and much more.

Our newer Lowestoft location continues to establish itself within the community, with the recent introduction of a games area in the outside space which has hosted sports clubs and provides further space to support the delivery of our programmes.

Fundraising

Government Covid-19 restrictions continued to have an impact on traditional fundraising in the earlier part of 2021, with apprehension to attend events which would previously have been subject to restrictions. By June, with restrictions easing, we were able to host a Golf Day with the support of Patron, Simon Jay, which raised in excess of £2,000.

The latter half of the year, saw the return of our annual charity ball at The Hangar, Milsoms Kesgrave Hall, raising a recordbreaking £56,000, thanks to prizes donated by Ed Sheeran and local supporters.

We also continue to work closely with members of the community on legacy fundraising, ensuring families and friends can create a meaningful way to honour those who have been lost too soon. In 2021, Legacy Fundraising exceeded £13,500, helping us to continue our work with young people up and down the county.

“While the pandemic has posed its challenges, we have continued to innovate and develop meaningful ways for the public to support our range of youth services.”

SARA WARBURTON, EVENTS AND FUNDRAISING MANAGER

16 TRUSTEES’ REPORT

TRUSTEES’ REPORT 17

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What do
we do?
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In the last 8 years, we have...

supported over 3000 young people and 18,000 children

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Over
spent supporting local
18,000
causes and people on
hours
community projects
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In 2021...

444 3787 3600

young people were supported through our education programmes

free benefit-related holiday club spaces for local families

hours giving back to the community by NCS students via social action

213 school leavers took part in our NCS programme

Confidence was the thing most of our students reported as having the biggest influence on their development

95 % of the young people who used our wellbeing service felt more positive about the future

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30,093
hours
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Time spent providing young people with the skills they need to achieve their ambitions and reach their potential

92 % would recommend Inspire to friends and family

316

young people access one-to-one counselling with our Youth Employment coaches

390

Positive outcomes for students, who went into next steps such as work, ducation or training

80 % of our Team Programme students feel they gained valuable skills and knowledge

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11 %
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£2300 raised by NCS students for local charities including Prickles Hedgehog Rescue and Ipswich Outreach

of young people we worked with had been unemployed for 36 months of more

hours of free counselling provided per 542 psychotherapist in 2021

132 young people achieved a qualification in areas such as Leadership and Construction

young people supported through the Wellbeing Service

259

18 TRUSTEES’ REPORT

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Our plans for 2022

The forthcoming year will see the Charity continue to deliver its core services to support young people in Suffolk, North Essex and Southeast Norfolk.

In the aftermath of the Covid-19 pandemic, the Charity is seeing increasing numbers of young people presenting with mental health and wellbeing issues and in need of our support to help them take positive steps forward. Our Wellbeing Service has never been needed more, and so we will take steps to expand the reach of this vital component of our services. This ambition is, as always, subject to funding being identified and secured, and the Senior Management Team of the Charity is focussed on this aim.

Specifically, the Charity will continue to build its presence in northeast Suffolk from our premises in Lowestoft. This will take the form of broadening the range of our services being delivered to match those running from our Ipswich site, greater PR and marketing, a focus on working with businesses in the area to provide, sponsorship, practical help for students (work experience, interview training etc).

Despite of the challenges of previous years, the Charity goes into 2022 understanding the challenge ahead, but confident that we have never been more relevant to the needs of the young people we support.

Expansion of our Youth Employment Service provided one-to-one target support to young people looking for support and advice on their journey into education or employment. This important service will enable us to introduce young people to our other services, if appropriate to their needs, or provide pathways to other trusted providers.

As well as this, in 2022 we will expand the reach of our NCS provision. The National Citizens Service has, historically been a slow burn for Inspire, however the current staffing structure gives us confidence that the programme will play an important part in building the confidence and broadening the horizons and ambitions of those we work with.

In the coming summer holiday period, we will expand the range and capacity of our children’s holiday activities. This will provide over 3000 free places funded by HM Government’s Holidays, Activity and Food Programme, targeting children in receipt of free school meals. Activities including sport, dance and crafts will be provided along with a packed lunch.

Building unrestricted income to help with the running of the organisation remains a key focus as we move forward. External venue hire started to rebuild in ‘21 and we have ambitious targets for the next 12 months in what will be a difficult financial period.

20 TRUSTEES’ REPORT

TRUSTEES’ REPORT 21

Financial review

The 2021 financial year began with continued Covid-19 induced uncertainties and cancellations of delivery programmes, fundraising events, and venue hire. However, having got through the challenges of 2020, the Charity was well equipped to modify its delivery and manage its staff and resources effectively to overcome these challenges.

The determination and commitment of its employees meant that the financial impact on the enforced closures was not as significant and our delivery was quick to return as soon as possible. The result of these efforts was that the Charity was able to end the year with a total net surplus of £56k.

Despite these efforts however, income continued to reduce during the year by 11% to £1.2m due to the unavoidable cancellation of some delivery during the year. After achieving years of steady growth, this takes the income back to a level secured four years ago. Although some areas of income have now regained their pre-pandemic levels, other areas of work have been more substantially affected by the challenges of the last two years. Our largest loss of income compared to previous years was from our Team Programme, which had to be delivered online for one of its three programmes during the year. Whilst there was some success with this model, it did not reach the number of students that would normally participate in our face to face programmes.

Other areas of delivery remained strong, including our delivery of the NCS summer and autumn programmes, and the successful running of our Holiday Clubs. The new Wellbeing Programme has also grown during the year, with £63k being spent to deliver these much needed services to young people.

Our fundraising efforts have been adapted and developed over the last two years as many events had to be cancelled. Our first major event able to restart was our annual ball in October, which proved to be a huge success. Following the generous contributions from the attendees and the amazing auction prizes donated for the event, the ball made a record-breaking surplus of £56k.

Our expenditure during the year reduced by 9% to £1.1m as a

result of continued cost savings during the period of closure and very careful financial management when programmes were able to commence again. The move to delivering some programmes in a virtual setting where necessary had the advantage of saving some of the direct delivery costs usually incurred and overhead costs were kept to a minimum.

The level of surplus retained by the Charity going into 2021 gave the Charity’s Trustees the confidence to continue to support the development of the Charity through this period of uncertainty. The securing of the Coronavirus Business Interruption Loan in 2020 for £150k provided the financial security to cope with any short term cash flow requirements. The loan balance will only be used as a short-term cash buffer and its potential early repayment will be reviewed regularly by the Board.

Despite the strong financial surplus position, the Charity remains alert to the risk of uncertainty and challenges over the coming years, as the organisation recovers and rebuilds its level of pre-pandemic income and gains further momentum to expand its delivery.

Reserves policy

Reserves are held in order to provide for continuity of service in the event of the loss of a major funder or project, or a dramatic change in the Charity’s operating environment. The Charity reviewed its reserves policy during the year and agreed on three key areas for which it would hold reserves:

Operational Reserves
Capital Replacement Reserves
Project Development Reserves

The board of Trustees considered the value of our reserves in the context of the current external climate, our size and activities, and agreed that the level of reserves required to meet the requirements of the policy totals £300k.

The actual level of unrestricted reserves at the year-end (excluding fixed assets) was £322k. This was achieved through very careful financial management during the year and through the hard work and commitment of all

employees, trustees, and funders.

The level of reserves held by the Charity has been crucial in ensuring it could navigate its way through the uncertainty and cash flow changes throughout the pandemic. It has highlighted even more so the importance of maintaining an appropriate level of reserves and the Board will continue to monitor this level to reflect on the last year and the future needs of the Charity.

Investment policy

The Charity does not have significant resources to invest, cash balances are held in current and deposit bank accounts with the Charity’s main banker. This policy is reviewed annually.

ACCOUNTS 23

22 TRUSTEES’ REPORT

Governance and administration

Trustee induction, recruitment and training

The persons who were Trustees as at the date of the approval of these accounts and those who have served as Trustees during the year are detailed on the Company Information page. For the purpose of this report the Director/Trustees are referred to as Trustees. The Trustees’ Report incorporates the requirement of the Directors’ Report under company law.

Recommendations for Trustees are put before the Nominations Committee for approval. Once the recommendation has been approved, it is then agreed by the Board.

The Charity continues to develop its procedure to ensure that the Trustee is aware of his or her responsibilities, has a good understanding of the Charity, understands its future strategy, is provided with relevant information from the Charity Commission and is offered ongoing training and information to ensure they are brought up to date with developments in law. Trustees are invited and encouraged to attend presentations and events which include the young people we work with.

Inspire Suffolk Ltd (the “Charity” or the “Company”) is a sole member company that has been registered as a charity (1101519). The Charity’s governing documents are the Memorandum and Articles of Association dated 17th January 2013. The member is the Trustee Terry Hunt.

Under the terms of these Articles of Association, the member may appoint a representative as a Director, who is also a Trustee. Further Trustees are appointed by the board. No other person or external body is entitled to appoint one or more of the Charity’s Trustees. The Trustees are responsible for the actions and activities of the Charity. All Trustees are appointed for a fixed term, and can then be re-appointed.

Trustees‘ terms of office last for three years, and they can serve up to three consecutive three-year terms, after which they may be invited to serve additional years at the invitation of the board, before standing down.

Operational Management

The Chief Executive Officer oversees a senior management team that includes, Deputy Chief Executive; Chief Finance Officer; Two Education Programme Managers; Grants & Development Manager; Centre Operational Manager, Senior Marketing Executive and HR Lead / Executive Assistant to CEO. The Senior Management Team meets monthly to ensure that the organisation is meeting its strategic objectives, working to budget, assessing charitable impact and identifying opportunities. It also has responsibility to identify and manage risk.

Trustee Board

The board of Trustees has ultimate legal responsibility for our organisation and works to ensure good governance with the help of its sub-committees (Finance and Employment Committee and Programmes and Outcomes Committee). The board agrees the overall strategic direction and is our highest decision-making body. Its members are volunteers. They work alongside the CEO and the senior management team, who are responsible for the implementation of policy and for the management of the day-to-day running of the organisation.

Risk

The senior management team review of the risk register takes place at their monthly meetings. In addition, this document is considered by the Trustees in detail at least once every year, and is tabled at every Trustee Board Meeting. Any major risks to which the Charity is exposed, which include a loss of a major funder, and the effects of an unpredictable financial climate, as identified by the Trustees and management team, have been reviewed by the management team, and systems or procedures have been established to manage those risks.

A sub committee of the Board exists to determine the remuneration of the Chief Executive through a review of performance and consideration of market data. The remuneration of the senior management team is set by the Chief Executive.

During the year the Charity paid for Trustee Indemnity Insurance amounting to £374 (2020: £296) on behalf of the Trustees.

Trustees’ responsibilities statement

of the Companies Act 2006) of which the Charitable Company’s auditor is unaware. They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Charitable Company’s auditor is aware of that information.

The Trustees (who are also the directors for the purpose of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the Trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they 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.

This report was approved by the Trustees on 1 September 2022 and signed on its behalf by:

Terry Hunt, Trustee

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

a) select suitable accounting policies and then apply them consistently;

b) observe the methods and principles in the Charities SORP;

c) make judgments and accounting estimates that are reasonable and prudent;

d) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue to operate. 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.

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.

The Trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3)

ACCOUNTS 25

24 ACCOUNTS

Independent Auditor’s report to the members of Inspire Suffolk Ltd

Accounts

Opinion

We have audited the financial statements of Inspire Suffolk Ltd (the ‘Charitable Company’) for the year ended 31 December 2021 which comprise the Statement of Financial Activities incorporating Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of 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:

give a true and fair view of the state of the Charitable Company’s affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.

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 ongoing 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 the Charitable Company’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.

Other information

The other information comprises the information included in the 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.

Opinion on other matter prescribed by the Companies Act 2006

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

the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
• the Trustees’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Trustees were not entitled to take advantage of the small companies’ exemption from the requirement to prepare a Strategic Report.

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Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, 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 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 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.

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 is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience and through discussions and enquiries of Trustees and management. During the engagement team briefing, the outcomes of these discussions were shared with the team, as well as consideration as to where and how fraud may occur in the Charitable Company.

The following laws and regulations were identified as being of significance to the Charitable Company:

Those laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, taxation regulations and the Charities Act 2011;
The company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures

in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, safeguarding, human rights and employment law and GDPR compliance.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the company complies with such regulations; enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of relevant legal documentation, review of board minutes, testing the appropriateness of entries in the nominal ledger, including journal entries and the performance of analytical procedures to identify any unexpected movements in account balances which may be indicative of fraud.

The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://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 member, 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 member those matters we are required to state to the member in an Auditors’ 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 it’s member as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Smith (Senior Statutory Auditor)

For and on behalf of Scrutton Bland LLP, Statutory Auditor Fitzroy House, Crown Street, Ipswich, IP1 3LG 1 September 2022

Accounts for the year ended 31[st] December 2021

We are dedicated to helping young people in Suffolk achieve brighter futures. To celebrate their achievements, we held our fourth annual Staff and Student Awards in September 2021.

Picture: Our Staff and Student Awards.

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ACCOUNTS 29

Statement of financial activities

(Incorporating an income and expenditure account) For the year ended 31st December 2021

	Notes	31/12/2021 Unrestricted funds (£)	31/12/2021 Restricted funds (£)	31/12/2021 Total funds (£)	31/12/2020 Total funds (£)
Income Grants and donations Charitable activities Other trading activities (fundraising) Investments	2 2 2 2	92,622 927,089 79,764 53	61,430 - - -	154,052 927,089 79,764 53	335,407 948,797 13,116 200
TOTAL INCOME		1,099,528	61,430	1,160,958	1,297,520
Expenditure on: Raising funds Charitable activities	3 3	(37,265) (976,666)	- (90,784)	(37,265) (1,067,450)	(23,799) (1,203,777)
TOTAL EXPENDITURE		(1,013,931)	(90,784)	(1,104,715)	(1,227,576)
Net income and expenditure and net movement in funds Reconciliation of funds Total funds brought forward Transfers between funds	11	85,597 447,574 999	(29,354) 119,191 (999)	56,243 566,765 -	69,944 496,821 -
TOTAL FUNDS CARRIED FORWARD 534,170 88,838 623,008 566,765

The above results arose wholly from continuing operations.
There were no gains or losses in either year other than the surplus for the year and accordingly, no statement of total recognised gains or losses is presented.
The notes on pages 30 to 39 form part of these financial statements.

Balance sheet

As at 31st December 2021

Balance sheet As at 31st December 2021
	Notes	31/12/2021 Total funds (£)	31/12/2020 Total funds (£)
Fixed assets Tangible Assets Investments	6 7	212,563 1	222,268 1
NET FIXED ASSETS		212,564	222,269
Current assets Debtors Cash at bank and in hand	8	84,506 624,924	158,625 467,441
TOTAL CURRENT ASSETS		709,430	626,066
Liabilities Creditors: amounts falling due within one year	9	(192,169)	(147,311)
NET CURRENT ASSETS		517,261	478,755
Creditors: amounts falling due after more than one year	10	(106,817)	(134,259)
NET ASSETS		623,008	566,765
The funds of the Charity Restricted income funds Unrestricted income funds	11 11	88,838 534,170	119,191 447,574
TOTAL CHARITY FUNDS 623,008 566,765

These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and were approved by the Board of Trustees and authorised for issue on 1 September 2022 and were signed on its behalf by:

Terry Hunt Julian Herbert Trustee Trustee

Company registration No. 04881803. The notes on pages 30 to 39 form part of these financial statements.

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ACCOUNTS 31

Statement of cash flows

For the year ending 31st December 2021

	Notes	31/12/2021 (£)	31/12/2020 (£)
Cash flows from operating activities Net cash provided by operating activities Cash flows from investing activities Interest received Receipt from sale of fixed assets Purchase of tangible fixed assets	18	187,964 53 4,000 (18,357)	176,971 200 - (64,365)
Net cash (used in) investing activities		(14,304)	(64,165)
Cash flows from financing activites Interest paid Proceeds from borrowing Repayment of borrowings		(267) - (15,910)	- 150,000 -
Net cash (used in) / generated from financing activities Change in cash and cash equivalents in the reporting period		(16,177) (157,483)	150,000 (262,806)
Cash and cash equivalents at 1 January		467,441	204,635
Cash and cash equivalents at 31 December 19 624,924 467,441

Notes

(Forming part of the financial statements)

1. Accounting Policies

and Republic of Ireland (FRS102) and the Companies Act 2006.

Basis of accounting

Inspire Suffolk Limited is an incorporated Charity domiciled and registered in England, which constitutes a public benefit entity as defined by FRS102. Assets and liabilities are initially assigned at cost or transaction value unless otherwise stated in the relevant accounting policy notes. The accounts have been reported in Sterling and rounded to the nearest £1 in both the current and previous accounting periods.

The annual report and accounts for the year ended 31 December 2021 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 (FRS102)(effective 1 January 2019) – (Charities SORP (FRS102)) Financial Reporting Standard applicable in the UK

Significant judgements in applying accounting policies and key sources of estimation uncertainty.

The preparation of financial information in conformity with FRS 102 requires the director to make critical accounting estimates and judgements that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

The key judgement areas impacting the financial statements are as follows:

Depreciation rates and useful economic lives - The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Funds

Restricted funds are funds that have restrictions imposed by donors and can only be applied for the particular purposes specified by donors. Designated reserves are those that, although not restricted, have been reserved by the Charity for a specific project alone. Unrestricted funds are funds that have no restriction as to how they are to be applied. There are no Endowment funds.

Going Concern

The Trustees have a reasonable expectation that the Charity has adequate resources to meet its liabilities as they fall due and continue its activities for the foreseeable future, being a period of at least 12 months from the date of the approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees Responsibilities.

Financial Instruments

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

The following accounting policies have been applied consistently in dealing with items that are considered material in relation to the Charity’s financial statements.

Tangible Fixed Assets and Depreciation

Tangible Fixed Assets costing more than £500 are capitalised at cost including any incidental costs of acquisition. Depreciation is calculated on the cost of the fixed asset on a straight line basis over the following expected useful life:

Leasehold Propety Improvements - between 10 and 25 years Plant and Machinery - Computer Equipment - 3 years Plant and Machinery - Equipment - 10 years Plant and Machinery – Vehicles - 5 Years

Income

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income is generally recognised on a receivable basis and is reported gross of related expenditure. The specific bases for recognition are:

Voluntary income includes donations, gifts and general funding and is recognised when receipt is probable.
Gifts in kind are treated as donations in the period the gift is received.
Charitable activity includes subscriptions raised on the activity and is accounted for when earned. Activity income earned in advance is deferred until entitlement to the income has arisen, at which time it is credited to the Statement of Financial Activities (‘SOFA’).
All fees and other services receivable in respect of courses taking place in subsequent financial years are deferred to the year in question.

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to

the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred.

Expenditure

All expenditure is accounted for on an accruals basis as a liability is incurred. Expenditure includes any VAT that cannot be recovered and is reported as part of the expenditure to which it relates. Expenditure is recognised when it is incurred and is reported gross of related income on the following bases:

Costs of raising funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises direct expenditure including direct staff costs attributable to the Charity’s activities. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of the resource as described below.
Support costs and governance costs have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating staff costs by the time spent on a project/activity and other costs by usage.

Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Pensions

Contributions to defined contribution pension schemes are charged to the income and expenditure account when payable.

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Taxation

The Charity is exempt from corporation tax on its charitable activities.

Group accounts

The Charity owns 100% of the share capital of a dormant company and has therefore taken advantage of the exemption to not prepare group accounts.

Finance costs

Finance costs are charged to the Statement of Financial Activities over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs

All borrowing costs are recognised in the Statement of Financial Activities in the year in which they are incurred.

2. Analysis of Income	Unrestricted Funds	Restricted Funds	31/12/2021 Total (£)	31/12/2020 Total (£)
Grants and donations Fundraising Interest receivable Charitable activities - Education programmes - Other activities and events - Coronavirus Job Retention Scheme	92,622 79,764 53 869,149 42,611 15,329	61,430 - - - - -	154,052 79,764 53 869,149 42,611 15,329	335,407 13,116 200 777,801 29,684 141,312

1,099,528 61,430 1,160,958 1,297,520
31st December 2020 1,049,282 248,238 1,297,520
Other Fundraising (£) Charitable Activities (£) 31/12/2021 Total (£) 3. Analysis of Expenditure 31/12/2020 Total (£)
Staff costs Direct costs Support costs (see note 4)	15,566 17,688 4,011	819,709 85,017 162,724	835,275 102,705 166,735	863,283 175,699 188,594
	37,265	1,067,450 1,104,715 1,227,576
31st December 2020 23,799 1,203,777 1,227,576

4. Analysis of Support Costs

The Charity identifies its support costs which can’t be directly attributed to an activity. These are then apportioned on an appropriate basis between the main activities of the Charity.

31/12/2021 Total (£) 31/12/2020 Total (£)	31/12/2021 Total (£) 31/12/2020 Total (£)	31/12/2021 Total (£) 31/12/2020 Total (£)	Basis of apportionment
Depreciation Subscriptions and licences Premises costs Finance and professional Governance costs Office and other costs	28,062 23,896 58,794 5,718 13,182 37,083	28,269 26,920 76,592 11,078 10,741 34,994	% of staff costs % of staff costs % of staff costs % of staff costs
166,735		188,594

The governance costs shown above include auditor’s remuneration for the audit of the financial statements of the Charity of £6,360 (31 December 2020: £6,204).

The finance and professional costs shown above include auditor’s remuneration for this Charity for Other Services, relating to accountancy support, of £Nil (31 December 2020: £Nil).

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34 ACCOUNTS

5. Staff Numbers and Costs

5. Staff Numbers and Costs
	31/12/2021 Total (£)	31/12/2020 Total (£)
Wages and salaries Social security costs Other pension costs	756,843 57,275 21,157	786,607 56,098 20,578
	835,275	863,283

No members of staff received emoluments between £60,000 - £70,000 in the year (2020: Nil).

The total emplyment costs of the Senior Management Team, which is comprised of the Chief Executive and 8 other staff members was £312,020 (2020 - Chief Executive and 8 other staff members £297,433). No Trustees received any remuneration or reimbursement of any expenses from the Charity. During the year £374 (2020: £296) was paid for Trustee Indemnity insurance.

The average head count and full time equivalent staff of the Charity is split across the following roles:

FTE Headcount	FTE Headcount	FTE Headcount	FTE Headcount
31/12/2021	31/12/2020	31/12/2021	31/12/2020
Governance 1 Management 7 Admin 3 Delivery 23	1 7 4 24	1 8 4 27	1 8 6 32
34 36 40 47

6. Tangible Assets

6. Tangible Assets
Leasehold Property Improvements (£)	Computer Equipment (£)	Equipment (£)	Vehicles (£)	Total (£)
Cost As at 1 January 2021 161,293 Additions 6,312 Disposals - As at 31 December 2021 167,605 Depreciation As at 1 January 2021 11,575 Charge for the year 6,578 On disposals - As at 31 December 2021 18,153 Net Book Value	88,907 2,583 - 91,490 69,225 12,867 - 82,092	101,254 9,462 - 110,716 48,386 8,617 - 57,003	23,838 - (23,838) - 23,838 - (23,838) -	375,292 18,357 (23,838) 369,811 153,024 28,062 (23,838) 157,248
As at 31 December 2020 149,718 As at 31 December 2021 149,452	19,682 9,398	52,868 53,713	- -	222,268 212,563

7. Investments

In 2014 the Charity acquired 100% of the £1 ordinary share capital of a limited company called Healthy Ambitions Trading Limited (07810625), a company registered in England and Wales. The company is dormant and the investment is recorded at cost.

8. Debtors	31/12/2021 Total (£)	31/12/2020 Total (£)
Trade debtors Prepayments and accrued income	24,287 60,219	50,392 108,233
	84,506	158,625

9. Creditors: Amounts Falling Due within One Year	31/12/2021 Total (£)	31/12/2020 Total (£)
Bank loan Trade creditors Other tax and social security Other creditors Accruals and deferred income	27,273 43,267 39,411 10,931 71,287	15,741 26,379 42,642 9,734 52,815

192,169 147,311
Deferred income brought forward 18,390 73,833 Deferred income released in the year (18,390) (73,833) Deferred income arising in the year 52,430 18,390
Deferred income carried forward 52,430 18,390

10. Creditors: Amounts Falling Due after more than One Year


10. Creditors: Amounts Falling Due after more than One Year	31/12/2021 Total (£)	31/12/2020 Total (£)
Bank loan	106,817	134,259
	106,817	134,259
Bank loan is repayable as follows: Within one year Between one to two years Between two to five years More than 5 years	27,273 27,273 79,544 -	15,741 25,682 81,977 26,600
134,090 150,000

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In 2020 the Charity took out a Coronavirus Business Interruption Loan with Barclays Bank plc. The Government provides Barclays with a guarantee for 80% of the loan, however, the Charity is responsible for repaying 100% of the facility. The loan can be repayed early in full or in part, without incurring prepayment fees. The loan is repayable over the period until November 2026. The interest rate on the loan is 2.99% above base rate per annum.

11. Movement in Funds


11. Movement in Funds a) Unrestricted funds – movement in year.	Balance 01/01/2021 (£)	Income (£)	Expended (£)	Transferred (£)	Balance 31/12/2021 (£)
General Unrestricted funds Unrestricted Fixed Assets	225,306 222,268	1,099,528 -	(1,013,931) -	10,704 (9,705)	321,607 212,563
Total Unrestricted Funds	447,574	1,099,528	(1,013,931)	999	534,170

b) Restricted funds – movement in period.

	Balance 01/01/2021 (£)	Income (£)	Expended (£)	Transferred (£)	Balance 31/12/2021 (£)
Turn Up and Play Our free sport sessions designed to provide young children with after-school enrichment. East Suffolk Council Sport England Suffolk Community Foundation through RJB Fund through Suffolk Sport Fund Stay and Play Free sessions for children and parents focused on physical activity. AquiGen Chancerygate Education Programmes Step Up provides industry-related training and qualifications as a stepping stone into employment. EDF Our Team Programme residential trips focus on team building, independence and skills-building. Suffolk Community Foundation through Frank Jackson Foundation Funding to purchase of student laptops to help combat digital deprivation. The Clothworkers Foundation	- 9,958 - 2,000 1,000 1,000 25,000 5,000 6,359	1,450 - 637 - - - - - -	(233) (4,085) - - - - (1,291) (5,000) (5,360)	- - - - - - - - (999)	1,217 5,873 637 2,000 1,000 1,000 23,709 - -

	Balance 01/01/2021 (£)	Income (£)	Expended (£)	Transferred (£)	Balance 31/12/2021 (£)
Lowestoft Venue Active Suffolk and EDF contributed towards the refurbishment and provision of youth spaces in our Colville House venue. Active Suffolk satellite club EDF Wellbeing Service Our free wellbeing services provides youth mental health counselling in Suffolk and Essex. Charities Aid Foundation IBC Lord Belstead Charitable Trust Mrs LD Rope National Lottery Community Fund Sanctuary Group Suffolk Community Foundation The Alborada Trust Ipswich Venue Last year improvements were made to our Ipswich venue to improve the spaces available for learning and hire. Football Foundation Grant IBC - Suffolk Community Restart Grant Suffolk Community Foundation through RJB Fund through West Fund Grant Capital Grants Capital grants covering tech, CRM and venue signage. Miscellaneous Vinci UK Foundation	4,098 30,705 - - - - - - 1,744 24,997 3,811 - 1,000 1,000 1,518 -	- - 28,033 2,500 2,000 4,000 10,000 7,074 - - - 1,736 - - - 4,000	(4,098) (220) (28,033) - - (2,484) (278) (5,112) (1,744) (24,997) (3,811) (1,736) - - (1,518) (784)	- - - - - - - - - - - - - - - -	- 30,486 - 2,500 2,000 1,516 9,722 1,962 - - - - 1,000 1,000 - 3,216
119,191 61,430 (90,784) (999) 88,838

The funds are as follows:

During the year grants and donations were received that were restricted to certain projects as set out above. The balances unspent at year end are expected to be spent during 2022. The transfer between funds relate to capital spend.

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12. Analysis of Net Assets between funds	Unrestricted funds (£)	Restricted funds (£)	Total funds 31 Dec 2021 (£)	Funds 31 Dec 2020 (£)
Fund balances at 31 December 2021 are represented by: Tangible fixed assets Investments Current assets Current liabilities Long term liabilities	212,563 1 620,592 (192,169) (106,817)	- - 88,838 - -	212,563 1 709,430 (192,169) (106,817)	222,268 1 626,066 (147,311) (134,259)

Total net assets 534,170 88,838 623,008 566,765

13. Member’s Guarantee

The Company has no share capital but is limited by guarantee. The member of the Company is a Guarantor and undertakes to contribute to the assets of the Company in the event of it being wound up, such amount as may be required. The member’s liability is limited to £1.

14. Operating Lease Commitments

In 2013 the Charity entered into a 10 year lease agreement with a peppercorn rent for the Ipswich site.

In 2018 the Charity entered into a 99 year lease agreement with a peppercorn rent for the Lowestoft site.

15. Capital Commitments

The Charity had no capital commitments at 31 December 2021 (2020: £Nil)

16. Contingent Liabilities

In the opinion of the Trustees there were no contingent liabilities at 31 December 2021 (2020: £Nil)

17. Related Party Disclosures

Birketts LLP is treated as a related party, as a Trustee, Liz Brownsell, is a Partner. The following balances and transactions are therefore disclosed:

Income and Expenditure Account

Finance and professional costs Legal and professional fees £6,913 (2020: £2,186)

18. Reconciliation of Net income/(expenditure) to Net cash flow from operating activities

	2021	2020
Net income for the year (as per the statement of financial activities) Adjustments for: Depreciation charge Interest receivable Interest payable Profit on sale of tangible fixed asset Decrease in debtors Increase/(decrease) in creditors	56,243 28,062 (53) 267 (4,000) 74,119 33,326	69,944 28,269 (200) - - 147,239 (68,281)

Net cash provided by operating activities 187,964 176,971

19. Analysis of cash and cash equivalents	2021	2020
Cash in hand	624,924	467,441
Total cash and cash equivalents	624,924	467,441

20. Analysis of changes in net debt	Balance 01/01/2021	Arising from cash flows	Balance 31/12/2021
Cash at bank Loans falling due within one year Loans falling due after more than one year	467,441 (15,741) (134,259)	157,483 (11,532) 27,442	624,924 (27,273) (106,817)
Total cash and cash equivalents 317,441 173,393 490,834

Balance at 31 December 2021 £Nil (2020: Nil)

Asset Education Academy Trust is treated as a related party, as the wife of a Trustee, Julian Herbert, is the Trust Finance Officer. The following balances and transactions are therefore disclosed: