## **INSPIRE WALWORTH** 

**(formerly known as Inspire at St Peter’s** 

**(A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023** 

**Charity Registration Number 1106693 Registered Company Number 04944794** 

**AZETS AUDIT SERVICES River House 1 Maidstone Road Sidcup Kent DA14 5RH** 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **CONTENTS** 

||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Chair’s Foreword|2|
|Report of the Directors|3 – 10|
|Independent Examiner’s Report|11|
|Statement of Financial Activities|12 – 13|
|Balance Sheet|14|
|Notes to the Financial Statements|15 – 22|





**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

|**Trustees**|Robert Smeath – Chair|
|---|---|
||Peter Chadwick – Vice Chair / Company Secretary|
||Rev. Alan Wild – Treasurer|
||Lahan Biodun|
||Theophilia Shaw|
||Keni Tuk|
||Nicholas Weedon|
|**Key Management Personnel**|Nigel Scott Dickeson  - Chief Executive|
||Sarah Parry – Parenting Programme Manager|
||Zara Lloyd – Young People’s Programme Manager|
||Steven Davies – Into Work Programme Manager|
|**Registered Office**|Newington TRA Hall|
||77 Canterbury Place|
||London|
||SE17 3AD|
|**Independent Examiner**|M A Wilkes FCA|
||Azets Audit Services|
||River House|
||1 Maidstone Road|
||Sidcup|
||Kent|
||DA14 5RH|
|**Bankers**|Metro Bank|
||120 Cheapsidee|
||London|
||EC2V 7JB|



1 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **CHAIR’S FORWARD** 

## **Chair’s Foreword** 

The last year has seen a big change in the Charity with the Board making the very difficult decision to move from the Crypt at St Peter's Church.  We have always managed our finances very carefully knowing that the climate for voluntary sector charities is always challenging.  As I mentioned in my report last year, the continued use of online, rather than in-person, meetings meant that a previously important source of income has declined.  At the same time the cost of running the building has increased in the same way it has for so many of our users. 

That decision has meant we said goodbye to Donna Grant who had worked with us for many years, and we thank her for the huge contribution she has made to our success. 

We are still resolving final issues with St Peter's Church so that equipment we own at The Crypt can be sold either to the Church or to others to maximise the funds available to us. 

Following our decision, we moved our youth work to Newington TRA Hall and have operated our other projects (the parenting programme and our skills and employment support project) in shared locations.  As part of our youth work, we work with food charities to provide hot meals to the young people at some of our youth group sessions. 

I would like to acknowledge the huge dedication our staff show to those who desperately need the services we provide and am pleased that all our projects have a high level of engagement from users.  Our Chief Executive, Nigel, has again worked tirelessly to maximise grant income so that we can continue to serve those in our community who need our help more than ever.  The Board of Trustees continue to look at work we can do to ensure that we make best use of our resources to support our various groups. 

Finally, I would like to thank all those partners who so generously fund our work.  As in previous years we are keen to involve anyone who would like to be more closely involved with our work whether as a volunteer, donor or trustee and if you have any interest in doing so please let me or Nigel know. 

Robert Smeath 

Date: 18 December 2023 

2 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

The Trustees present their report and financial statements for the financial year ending 31 March 2023.  The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the  Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 

## **Objectives and Activities** 

The Board of Trustees confirms that Inspire’s vision and mission statement remain relevant: 

Vision – To build and support an Inspired Walworth community. 

Mission – To Provide safe welcoming spaces and opportunities which enable our Walworth communities to grow and flourish. 

Guiding values - 

1. We are inclusive believing that everybody matters 

2. We are honest, reliable and transparent 

3. We are compassionate when circumstances are difficult 

4. We celebrate aspiration and achievement 

The organisation’s aims, ‘to operate a range of support services so people can creatively and imaginatively increase their skills, develop their confidence and achieve a sense of community’, are still relevant and the organisation’s reason for being. More specifically, the charity’s stated objects are: 

- the promotion of community cohesion in Walworth in the London Borough of Southwark and the relief of social exclusion or economic disadvantage, particularly among single parents, young people and other vulnerable residents. 

- the provision of support and vocational skills to assist beneficiaries to enter or re-enter employment. 

- providing a range of positive activities and club sessions for young people. 

To meet these aims Inspire offers safe, welcoming and creative spaces where local residents can access a range of services, learning and creative opportunities that enhance well-being and a sense of community. 

## **Public benefit statement** 

The Charity Commission’s general guidance on public benefit is used as a basis to review Inspire’s aims and objectives and in planning any future activities. We continue to ensure our various programmes will directly contribute to the aims and objectives of the charity.  Our Trustees are therefore satisfied that the charity at least meets those Charity Commission’s guidelines in delivering any public benefit. 

3 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

In July 2023, Inspire relocated from The Crypt at St Peters Church to Newington TRA Hall as to the level of rent and premises service costs were becoming so unaffordable that they would have significantly affected the charity’s future sustainability.  Our charity’s name was also changed to ‘Inspire Walworth’ reflecting the organisation’s continued aim to support beneficiaries in the Walworth neighbourhood. 

Inspire’s community support programmes continue to adapt and evolve in response to increased demand, mainly due to local significant inequalities as cost of living increases particularly continue to affect those from black and minority communities.  Following Inspire’s relocation to Newington, attendances continue to grow for our 2Inspire’s youth club sessions, sports and creative activities which are now all taking place at Newington TRA Hall and Draper Hall.  Inspire to Work, our local employability programme, continues to assist young people aged 16-25 who need of our support and guidance as unemployment levels remain high in Southwark. Our Parenting Support programme continues to support both young parents and their families who find themselves experiencing adversity, especially as current economic circumstances are now having a considerable impact on their ability to meet day-to-day living costs. 

## **Achievements and performance** 

## _‘‘2Inspire’Youth Group_ 

During the last year, Inspire’s youth work continued to provide essential support for over 200 local young people aged 11-18.  Many of them underachieve at school or lack positive role models in their families or become NEET (not in education, employment or training).  They often lack self-belief, with low confidence and aspirations and without offering our ‘2Inspire’ activities and opportunities, we know they could easily become vulnerable to involvement in anti-social behaviour, gang culture, drug or alcohol abuse and criminal activity. 

During the year, demand for our Friday Youth Club sessions have continued to increase and despite the relocation in July 2023 to Newington, we have been able to retain many members who attended while based at The Crypt. On Friday evenings, we provide two separate sessions for those aged between 11-14 and 15-18 to ensure they can all enjoy a quality experience.  At every session, we offer free hot meals for all our ‘2Inspire’ members while food poverty continues to have an impact on their families. We were also able to provide a wide range of activities during school holidays including kayaking, archery, football, BMX and community cycling sessions, boxing, outdoor sports, Go Ape sessions and a seaside day trip to Margate. 

## _Inspire Parents_ 

During the last financial year, our Parenting Support Programme provided support to over 80 young women, with many of them benefitting from our bursary awards made possible by a dedicated grant fund from Smallwood Trust. The majority of the those we have worked with have benefitted from our advocacy service alongside financial support for essential expenditure when demand increased significantly due to the cost of living crisis. 

We have worked alongside several family support workers and social workers during the year, particularly supporting young women with children who are experiencing difficulties with temporary accommodation.  Housing difficulties continue to provide most of our requests for assistance.  We ensured that temporary accommodation was made available to safeguard any young mother finding themselves in vulnerable circumstances.  We also managed to assist several women who were moved from poorly located temporary accommodation back into Southwark where their previous support networks existed. 

We work hard to advocate for young mothers and their children to have them remain within their community, often negotiating tirelessly with the housing department to ensure these young mums do not experience isolation of being sent far away.  The availability of solicitors who accept Legal Aid to deal with homelessness and immigration issues is a constant challenge.  Charities who would have supplied white-goods and furniture before the pandemic have ceased to exist or now have greater restrictions on what they will award, so we have often had to step in with bursary support. It has been particularly challenging that housing now only provides unfurnished temporary accommodation to young parents, shifting the burden for furnishing these homes onto the charitable sector.  The demand for individual advocacy casework is significant and community need continues to consistently stretch our resources. 

4 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

_Inspire to Work: Youth Employment Support Programme_ 

Following the Covid pandemic, more than 2 in 10 young people aged 16 - 25 in Southwark Borough had lost their job and just under 6 in 10 had seen their earnings fall.  Another report by LSE’s Centre for Economic Performance (CEP), found that just seven in ten school pupils were receiving full-time schooling. 

The study also found that young workers (18-25) were twice as likely to have lost their jobs compared to older employees and that employment and earnings losses were more pronounced for the self-employed and those who grew up in poverty. 

During 2022-23, the Inspire to Work programme assisted 52 young people.  Our most constant challenge was supporting those needing advice and mentoring having found themselves still out of work after pandemic and whenever possible, guiding them back into new employment opportunities.  Many of the young people we assist ant to explore self-employment options and so we ensure they are given helpful information around areas such as financial management and personal tax arrangements. 

During the last year, we started several initiatives with Active Communities Partnership, King’s College London plus a new mentoring support programme with Notting Hill Genesis.  We continue to set up vocational opportunities, especially in the creative sectors, where the strengths of young people who are not so adept at more formal subjects can excel. 

## _‘Inspire to Grow’ Gardening Group_ 

This group continues to provide regular weekly sessions from May to October that support local people with varying additional needs including health, mental health and learning disabilities, The members were able to meet their friends on a regular basis in a friendly outdoor environment which helps to improve their wellbeing and general moral. 

## **Partnership Work** 

Inspire continues to develop mutually beneficial partnerships with a wide range of organisations in the public, voluntary and private sectors, both locally and Borough wide.  We enjoy positive relationships with other charity and community sector providers such as Community Southwark – the local charity membership organisation – who have assisted our organisation’s strategy to improve our community support services and where residents can obtain a wealth of information under one roof that can be used to find more targeted services. 

_Key partner organisations include:_ 

ARTIC Community Southwark Cycleworks Draper Together Newington TRA Notting Hill Genesis Peckham Levels Southwark Council The Felix Project The Walworth Group Timberland UK 

## **Statement on Public Benefit** 

The objectives and activities, achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit.  The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. 

5 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

## **Financial Review** 

Total income for the year was £400,244 (2022: £385,670) of which £238,380 (2022: £301,233) was from restricted funding streams.  Only £48,175 (2022: £20,030) of the total unrestricted income of £161,864 (2022: £84,437) was able to be generated through room hire, mainly due to continued recovery from the Covid pandemic and increased use of on-line meeting platforms.  Total expenditure for the year was £457,591 (2022: £417,356) of which £248,229 (2022: £309,044) was spent on restricted activities. 

There was an excess of expenditure over income of £57,347 (2022: £31,686) of which £47,498 (2022: £23,875) was unrestricted, leaving a deficit in unrestricted reserves carried forward of £7,592 (2022: £39,906 surplus). Restricted reserves for 31 March 2022 were £43,333 (2022: £53,182).  Total funds carried forward are £35,741 (2022: £93,088). 

## **Reserves Policy** 

It is the stated policy of the Trustees to maintain financial reserves equivalent to three months operating expenditure which equates to £52,340 for the financial year.  At the end of March 2023, unrestricted reserves were in deficit by £7,592, mainly due to the significant increases in premises costs incurred at The Crypt during the financial year which could not be covered by room hire income or other sources of unrestricted funds.  Given that Inspire has no permanent endowments and relies on many sources of funding – which is usually restricted – to deliver its services, the process of building up this level of unrestricted reserves remains challenging.  However, this situation was addressed by relocating in July 2023 from The Crypt to Newington TRA Hall nearby in Walworth.  That decision alone will save the charity in the range of £70,000 annually in operational overheads.  A major objective for the 2023-24 financial year is to bring the charity’s unrestricted reserves back into surplus and relocation is the first step. 

## **Risk Management** 

As part of their regular monitoring of the charity’s activities, the Trustees constantly review any risks which they consider the organisation may be affected by.  The Trustees confirm that the major risks which the charity could be exposed have been reviewed and that systems or procedures have been established to mitigate those possibilities.  Key risks at the present time are: 

|**_Policy area_**||**_Possible_**|**_risks_**||||**_Mitigating actions_**|
|---|---|---|---|---|---|---|---|
|Reserves|•|Lack of unrestricted funds affecting||||•|Link reserves policy to business|
|||response to new needs or|||||plans, activities alongside financial|
|||requirements|||||and operating risks|
||•|Inability<br>to|meet|long|term|•|Regularly review reserves policy and|
|||commitments|or|planned|||reserve levels|
|||objectives.||||•|Focus on increasing free reserves in|
||•|Reputational|risk if|this|policy||business planning objectives|
|||cannot be justified||||||
|Income diversity|•|Unsustainable|<br>cash|flow|<br>and|•|Identify major dependent funders.|
|||adverse budgetary impact following||||•|Implement appropriate reserves|
|||any major loss|of income||||policy.|
|||||||•|Consider diversification options.|
|||||||•|Maintain overview of grant periods|
||||||||and possible extensions.|
|Premises|•|Short term tenancies with unstable||||•|Identify premises which are|
|||security of tenure|||||affordable with long term occupancy|
||||||||which will provide a stable base for|
||||||||future community support services.|
|||||||•|Ensure future location overheads are|
||||||||affordable and predictable.|



6 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

## **Plans for Future** 

_Moving into 2023 - 2024 key areas to address include:_ 

_Fundraising_ – continue to diversify the charity’s funding streams to diversify income sources.  Aim to secure more long term funding agreements whenever possible and renew existing arrangements when due to end within the next financial year. 

_Premises_ - seek more permanent long term space and facilities for our in house activities in Walworth which are sustainable over the long term so fixed operational costs can be maintained at an affordable level.   Although Inspire has now relocated to Newington TRA Hall to save current premises costs, a more established location needs to be found. 

_Organisational Development_ – continue to develop the charity’s medium term strategy to ensure services can remain sustainable even in adverse circumstances, such as the high levels of inflation and energy costs, so we can adapt effectively to levels of demand at the new locations in Walworth. 

_Governance_ – continue to review the charity’s Memorandum & Articles of Association to reflect its revised name and objectives following its relocation in Walworth. 

## **Going Concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. 

Looking forward, the Trustees are confident that continuous efforts are continuing to save operational costs and broaden the range of funding necessary to meet the growing demands on Inspire’s core services.  Robust budgetary controls remain in place to ensure the charity remains sustainable and able to continue as a going concern. 

One of the major factors affecting the deficit on unrestricted reserves was the rent and premises service charges being incurred while Inspire was based at The Crypt at St Peter’s Church.  This followed a significant increase in annual rent, energy costs and service maintenance charges which could no longer be covered by room hire income which was the main source of financial cover. 

As a result, the senior management team started seeking alternative premises from January 2023 and during the February 2023 Board Meeting, the trustees gave the Church PCC notice that we would have to relocate by June 2023 if equivalent reduced rent and premises overheads could not be matched.  In mid-June, the PCC advised that this was not possible and so from 1[st] July 2023, Inspire relocated to Newington TRA Hall in North Walworth. 

The decision to relocate will save in the region of £70,000 annually in premises overheads while being able to maintain all the charity’s community support programmes. Regrettably, this involved redundancy of the Front of House role and the redundancy costs have all been covered.  This will also save £26,000 p.a. in salary costs. 

These cost savings will continue to improve Inspire’s long term future sustainability while continuing to meet the continuous demand on our charity's community based services in Walworth. 

7 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

## **Structure, governance and management** 

_Governing Document_ 

The governing document of the organisation is the Memorandum and Articles of Association of Inspire Walworth incorporated as a company limited by guarantee on 27 October 2003 and as amended in July 2023. 

_Trustees of the charity_ 

The Directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who served during the last financial year are as follows: 

Robert Smeath - Chair Peter Chadwick - Secretary Rev. Alan Wild - Treasurer Lahan Biodun Cllr. Lorraine Lauder (Resigned 14 September 2022) Rev. Andrew Mumby (Resigned 12 July 2023) Theophilia Shaw Keni Tuki Nicholas Weedon 

_Appointment and recruitment of Trustees_ 

The procedures governing the appointment and recruitment of Trustees are laid down in Articles 29 - 35 of the Articles of Association. The charity takes Trustees drawn from interested members of the local community and volunteers of the charity. The Trustees are also engaged as Directors of the charity's associated company limited by guarantee. 

## _Organisational structure_ 

The Board of Trustees meets quarterly with the Chief Executive of the charity in attendance ex officio. The daytoday operation of Inspire, both strategically and operationally, is the responsibility of Chief Executive, Nigel ScottDickeson. 

_Key management personnel remuneration policy_ 

Salaries of senior management personnel are set by the Board based on salary reviews, sector market rates and available funding. 

8 



## **INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

## _Key operational staff_ 

## 2Inspire: 

Young People's Programme Manager - Zara Lloyd Senior Youth Worker - Kawthar Taibi 

Youth Workers - Andrew Ayree, Segun Ogwu, Tyrell Williams, David Natufe, Adelaide Adegoke 

## Inspire Parents: 

Programme Manager - Sarah Parry 

Information & Data Co-ordinator - Adeline Addruse 

## Inspire to Work: 

Programme Manager - Steven Davies 

## Front of House - Donna Grant 

Front of House Support - Daniel Fineman, Josephine Ocaka Cleaning - Marie Mathurin (Resigned 31 December 2022) 

## _Related and connected parties_ 

Inspire delivered services from The Crypt of St Peter’s Church until June 2023 when the organisation relocated to Newington TRA Hall.  For that reason, the charity’s name has been altered to Inspire Walworth. 

In addition, Inspire maintains strong links with the Southwark Council and many other local or regional voluntary sector groups including Community Southwark. Some of these organisations assisted Inspire in working across similar service areas together with local businesses that provided support through the provision of services in kind or pro bono or financial sponsorships. 

## _Funders_ 

Inspire would like to thank all our funders and benefactors during 2022-23. This includes, but is not limited to: 

|29th May 1961 Charitable Trust|Active Communities Network|
|---|---|
|BBC Children In Need|Cicely Northcote Trust|
|Garfield Weston Foundation|Good-Loop Limited|
|Henry Smith Charity|King Baudouin Foundation|
|Kings College London|L&Q Placemakers Fund|
|Leathersellers Company|Lloyds Bank Foundation|
|London Youth Active Fund|Merchant Taylor's Company|
|NHS South East London|Notting Hill Genesis|
|Southwark Council|Smallwood Trust|
|The Social Innovation Partnership (TSIP)|Timberland UK|



9 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **REPORT OF THE TRUSTEES** 

## **Trustee responsibilities** 

The Trustees - who are also Directors of InSpire for the purposes of company law - are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP 2015 (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the Trustees are aware: 

- there is no relevant information of which the charitable company’s independent examiner is unaware; and 

- • the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

## **On behalf of the Board of Trustees** 

## **Robert Smeath Chair** 

Date: 18 December 2023 

10 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS** 

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 11 to 22. 

## **Responsibilities and basis of report** 

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accounts England and Wales, which is one of the listed bodies. 

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

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 

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

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. 

## **Material uncertainty relating to going concern** 

I have considered the adequacy of the disclosures made in the Accounting Policies – Going Concern, note 1j concerning the charity’s ability to continue as a going concern.  At the 31 March 2023 the charity had net assets of £35,741 and unrestricted funds were a deficit of £7,592. 

As set out in the Report of the Directors on page 7, the charity has restructured its operations, but these events or conditions indicate a material uncertainty exists that may cast doubt on the charity’s ability to continue as a going concern. 

I have no other concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

M A Wilkes (FCA) For and on behalf of Azets Audit Services First Floor, River House, 1 Maidstone Road, Sidcup Kent DA14 5RH 

Date : 19 December 2023 

11 



## **INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 

## **INCOME AND EXPENDITURE ACCOUNT** 

||**Notes**|||||
|---|---|---|---|---|---|
|||**Unrestricted**|<br>**Restricted**|**Total**|**Total**|
|||**funds**|**funds**|**2023**|**2022**|
|||**£**|**£**|**£**|**£**|
|**Income from:**||||||
|Donations||7,423|-|7,423|2,353|
|Charitable activities:||||||
|Grants receivable|**2**|106,266|238,380|344,646|348,329|
|Other:||||||
|Rental income||48,175|-|48,175|20,030|
|HMRC – Job Retention scheme|||-|-|5,287|
|Business Interruption claim||-|-|-|9,671|
|||___________|___________|____________|____________|
|**Total income**||161,864|238,380|400,244|385,670|
|||___________|____________|____________|____________|
|**Expenditure on:**||||||
|Charitable activities||209,362|248,229|457,591|417,356|
|||___________|____________|____________|____________|
|**Total expenditure**|**3**|209,362|248,229|457,591|417,356|
|||___________|____________|____________|____________|
|**Net movement in funds**||(47,498)|(9,849)|(57,347)|(31,686)|
|**Total funds brought forward**||39,906|53,182|93,088|124,774|
|||___________|____________|____________|____________|
|**Total funds carried forward**||(7,592)|43,333|35,741|93,088|
|||___________|___________|____________|____________|



All of the charity’s transactions are derived from continuing activities. 

The Statement of Financial Activities includes all gains and losses recognised in the year 

12 



## **INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 

|**Comparative year information**|**Notes**||||
|---|---|---|---|---|
|**year ended 31 March 2022**||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**|**2022**|
|||**£**|**£**|**£**|
|**Income from:**|||||
|Donations||2,353|-|2,353|
|Charitable activities:|||||
|Grants receivable|**2**|47,096|301,233|348,329|
|Other:|||||
|Rental income||20,030|-|20,030|
|HMRC – Job Retention scheme||5,287|-|5,287|
|Business Interruption claim||9,671|-|9,671|
|||___________|___________|____________|
|**Total income**||84,437|301,233|385,670|
|||___________|____________|____________|
|**Expenditure on:**|||||
|Charitable activities||108,312|309,044|417,356|
|||___________|____________|____________|
|**Total expenditure**|**3**|108,312|309,044|417,356|
|||__________|____________|____________|
|**Net movement in funds**||(23,875)|(7,811)|(31,686)|
|**Total funds brought forward**||63,781|60,993|124,774|
|||___________|____________|____________|
|**Total funds carried forward**||39,906|53,182|93,088|
|||___________|___________|___________|



13 



## **INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **BALANCE SHEET AS AT 31 MARCH 2023** 

|**Company number: 04944794**|||||||
|---|---|---|---|---|---|---|
||**Note**||**2023**||**2022**||
|||**£**|**£**|**£**||**£**|
|**Fixed Assets**|**9**||8,592|||13,768|
|**Current Assets**|||||||
|Debtors|**10**|33,022||26,772|||
|Cash at bank and in hand||45,356||103,725|||
|||____________||____________|||
|||78,378||130,497|||
|**Creditors:**amounts falling|||||||
|due within one year|**11**|(51,229)||(51,177)|||
|||____________||____________|||
|**Net Current Assets**|||27,149|||79,320|
||||____________||____________||
|**Net Assets**|||35,741|||93,088|
||||||||
||||____________||____________||
|**Represented by:**|||||||
|Restricted funds|**12**||43,333|||53,182|
|Unrestricted funds|||||||
|General fund|||(7,592)|||39,906|
||||____________||____________||
|Total funds|**13**||35,741|||93,088|
||||____________||____________||



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. 

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. 

The Directors acknowledge their responsibilities for: 

- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

Approved by the Board of Directors on 18 December 2023 and signed on their behalf by: 

**Robert Smeath Chair** 

14 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES** 

## **a. Basis of preparation** 

InSpire at St Peter’s is a company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 2. 

The charity constitutes a public benefit entity as defined by FRS 102. The Trustees present their report and financial statements for the financial year ending 31 March 2023.  The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the  Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.  The financial statements are presented in sterling which is the functional currency of the charity. 

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

## **b. Income** 

All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 

Donations and gifts are included in full in the SOFA when receivable. 

The charity receives grants in respect of its activities. Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. 

Other income includes income earned from fundraising events and activities to raise funds for the charity and membership subscriptions. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. 

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met.  Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable.  A grant received before the recognition criteria are satisfied is recognised as a liability. 

Investment income is included when receivable. 

## **c. Expenditure** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: 

- Costs of raising funds are those costs incurred in attracting voluntary income. 

- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.  It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. 

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 

15 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **d.        Support costs allocation** 

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. 

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. 

## **e.** 

## **Funds accounting** 

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. 

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity.  Restriction arises when specified by the donor or when funds are raised for particular restricted purposes.  These are set out in note 12. 

## **f.** 

## **Tangible fixed assets** 

Tangible fixed assets are stated at cost less depreciation.  Assets costing less than £1,000 are written off in the period of acquisition.  All other assets are capitalised. 

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows: 

Fixtures, fittings and equipment - 25% straight line 

## **g.        Cash at bank and in hand** 

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

## **h.        Debtors and creditors receivable / payable within one year** 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 

## **i. Corporation Tax** 

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 

## **j. Going Concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. 

Looking forward, the Trustees are confident that continuous efforts are continuing to save operational costs and broaden the range of funding necessary to meet the growing demands on Inspire’s core services.  Robust budgetary controls remain in place to ensure the charity remains sustainable and able to continue as a going concern. 

Cost savings have been implemented and will continue to improve Inspire’s long term future sustainability while continuing to meet the continuous demand on our charity's community based services in Walworth. 

## **k.        Operating leases** 

Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease. 

16 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **l. Judgements and key sources of estimation uncertainty** 

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements: 

## _Useful economic lives of tangible assets_ 

The annual depreciation charge for tangible 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 re-assessed 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. See note 9 for the carrying amount of the fixtures, fittings and equipment, and note f for the useful economic lives for each class of assets. 

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 

17 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|**2.**<br>**GRANTS RECEIVABLE**<br>**Unrestricted**<br>**£**<br>**Restricted**<br>**£**<br>29thMay 1961 Charitable Trust<br>5,000<br>-<br>Active Communities Network - Gamechanger<br>-<br>300<br>Arnold Clark Community Fund<br>-<br>-<br>BBC Children In Need<br>500<br>30,321<br>Big Fish Big Pond Programme<br>-<br>-<br>Charterhouse in Southwark<br>-<br>-<br>Community Southwark – Social Prescribing Fund<br>650<br>-<br>Cicely Northcote Trust<br>-<br>7,500<br>Department for Digital, Culture, Media and Sport<br>-<br>-<br>Department for Work and Pensions<br>-<br>-<br>Fuellers Charitable Trust<br>-<br>1,500<br>Garfield Weston Foundation<br>20,000<br>-<br>Goodlopp/Timberland<br>8,731<br>-<br>Hedley Foundation<br>-<br>2,000<br>Henry Smith<br>-<br>40,000<br>Jack Petchey Foundation<br>-<br>1,200<br>Julia & Hans Rausing<br>-<br>-<br>The KINC/Timberland<br>-<br>4,000<br>King Baudouin Foundation<br>8,135<br>-<br>Kings College London<br>5,000<br>-<br>L&Q Placemakers<br>-<br>7,146<br>Leathersellers Company<br>10,000<br>Lloyds Bank Foundation<br>2,250<br>25,000<br>London Youth<br>-<br>575<br>Merchant Taylor’s Company<br>-<br>10,000<br>Neighbours Fund Project<br>-<br>-<br>NHS South East London<br>25,000<br>-<br>Notting Hill Genesis<br>-<br>16,600<br>Newington TRA<br>-<br>2,138<br>Peabody Community Foundation<br>-<br>4,150<br>Skipton Building Society<br>-<br>1,950<br>Smallwood Trust<br>21,000<br>50,000<br>Southwark Council<br>-<br>34,000<br>St George The Martyr Charity<br>-<br>-<br>The Social Innovation Partnership<br>-<br>-<br>United St Saviours<br>-<br>-<br>____________<br>____________<br>106,266<br>238,380<br> <br>|**2023**<br>**£**<br>5,000<br>300<br>-<br>30,821<br>-<br>-<br>650<br>7,500<br>-<br>-<br>1,500<br>20,000<br>8,731<br>2,000<br>40,000<br>1,200<br>-<br>4,000<br>8,135<br>5,000<br>7,146<br>10,000<br>27,250<br>575<br>10,000<br>-<br>25,000<br>16,600<br>2,138<br>4,150<br>1,950<br>71,000<br>34,000<br>-<br>-<br>-<br>____________<br>344,646|**2022**<br>**£**<br>5,000<br>2,700<br>1,000<br>30,321<br>7,263<br>8,000<br>-<br>14,250<br>846<br>-<br>-<br>-<br>20,000<br>6,500<br>15,750<br>-<br>-<br>-<br>-<br>10,000<br>25,000<br>1,500<br>10,000<br>4,000<br>-<br>2,376<br>-<br>-<br>-<br>75,000<br>77,826<br>5,000<br>197<br>25,800<br>___________<br>348,329|
|---|---|---|



18 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|3**.**<br>**EXPENDITURE**<br>Charitable activities:<br>2InSpire Youth Group<br>InSpire Community centres<br>InSpire Parents<br>InSpire to Work<br>InSpire to Grow<br>Other activities|**Staff**<br>**Costs**<br>**£**<br>59,440<br>126,306<br>37,218<br>33,559<br>455<br>-<br>____________<br>256,978|**Direct**<br>**costs**<br>**£**<br>30,475<br>-<br>52,099<br>9,761<br>3,445<br>-<br>___________<br>95,780|**Support**<br>**costs**<br>**£**<br>16,048<br>83,056<br>5,629<br>-<br>100<br>-<br>___________<br>104,833<br>|**Total**<br>**2023**<br>**£**<br>105,963<br>209,362<br>94,946<br>43,320<br>4,000<br>-<br>___________<br>457,591|**Total**<br>**2022**<br>**£**<br>157,488<br>108,312<br>95,245<br>41,818<br>4,000<br>10,493<br>___________<br>417,356|
|---|---|---|---|---|---|



All costs are allocated between the expenditure categories noted above on a basis designed to reflect the use of the resource.  Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, being, time spent. 

## **4. SUPPORT COSTS** 

|Rent, rates, insurance and utilities<br>Printing, postage, stationery and telephone<br>Property maintenance and cleaning<br>Bookkeeping, accountancy and payroll admin<br>IT maintenance and consumables<br>Staff training and recruitment<br>Depreciation<br>Other costs<br>Governance (note 5)<br>**5.**<br>**GOVERNANCE COSTS**<br>Independent examination – current year<br>Independent examination – under provision in prior year<br>Legal and professional fees<br>**6.**<br>**NET INCOME / (EXPENDITURE) FOR THE YEAR**<br>Net income / (expenditure) is stated after charging:<br>Independent Examiner’s Fee<br>Independent Examiner’s Fee – Under provision in prior<br>year<br>Depreciation|**2023**<br>**£**<br>52,663<br>6,424<br>11,321<br>13,906<br>9,102<br>36<br>5,176<br>1,477<br>4,728<br>_____________<br>104,833<br>_____________<br>**2023**<br>**£**<br>4,680<br>-<br>48<br>_____________<br>4,728<br>_____________<br>**2023**<br>**£**<br>4,680<br>-<br>5,176<br>|**2022**<br>**£**<br>35,593<br>7,991<br>19,600<br>14,656<br>10,113<br>2,160<br>6,034<br>450<br>4,728<br>_____________<br>101,325|
|---|---|---|
|||_____________<br>**2022**<br>**£**<br>4,260<br>420<br>48<br>_____________<br>4,728|
|||_____________<br>**2022**<br>**£**<br>4,260<br>420<br>6,034<br>|



19 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **7. TRUSTEE REMUNERATION** 

No trustees received or waived remuneration for their services in in the year.  No trustee was reimbursed expenses (2022: £Nil). 

## **8. STAFF COSTS** 

|Salaries and wages<br>Social security<br>Pensions<br>The average monthly number of employees<br>during the year was:|**2023**<br>**£**<br> <br>236,685<br>15,643<br>4,650<br>_____________<br>256,978<br>_____________<br>18<br>_____________|**2022**<br>**£**<br>232,341<br>15,197<br>4,291<br>_____________<br>251,829<br>|
|---|---|---|
|||_____________<br>16<br>_____________|



No member of staff earned more than £60,000 during the year (2022: none).  The key management personnel comprise of those listed on page 1.  The total remuneration (including employers national insurance and pension contributions) paid to key management personnel was £168,357 (4 people) (2022: £133,805 – 3 people). 

## **9. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 April 2022<br>At 31 March 2023<br>**DEPRECIATION**<br>At 1 April 2022<br>Charge for the year<br>At 31 March 2023<br>**NET BOOK VALUE**<br>**At 31 March 2023**<br>At 31 March 2022<br>**10.**<br>**DEBTORS**<br> <br>Room hire<br>Accrued income<br>Prepayments and other debtors|**Fixtures,**<br>**fittings and**<br>**equipment**<br>**£**<br>210,711<br>____________<br>210,711<br>____________<br>196,943<br>5,176<br>____________<br>202,119<br>____________<br>8,592<br>____________<br>13,768<br>____________<br>**2023**<br>**£**<br>**2022**<br>**£**<br>3,874<br>3,138<br>26,950<br>12,140<br>2,198<br>11,494<br>____________<br>____________<br>33,022<br>26,772<br><br>|
|---|---|



20 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|**11.**<br>**CREDITORS**<br>Accruals and deferred income<br>Other taxes and social security<br>Other creditors<br>**12.**<br>**RESTRICTED FUNDS**<br>**Balance at**<br>**1.4.2022**<br>**Current year**<br>**£**<br>2InSpire Youth Clubs<br>13,133<br>Parenting<br>34,529<br>InSpire to Work<br>5,520<br>Adult Programme<br>-<br>____________<br>53,182<br>____________<br>**Balance at**<br>**1.4.2021**<br>**Prior year**<br>**£**<br>2InSpire Youth Clubs<br>19,841<br>InSpire and 2InSpire Buildings<br>-<br>Estate Based Work<br>29,774<br>Parenting<br>11,378<br>InSpired to Work<br>-<br>Adult Programme<br>-<br>____________<br>60,993<br>|**2023**<br>**£**<br>45,648<br>4,698<br>883<br>____________<br>51,229<br>____________<br>**Income**<br>**Expenditure**<br>**Transfers**<br>**£**<br>**£**<br>**£**<br>101,580<br>(105,963)<br>-<br>75,000<br>(94,946)<br>-<br>57,800<br>(43,320)<br>-<br>4,000<br>(4,000)<br>-<br>____________<br>____________<br>____________<br>238,380<br>(248,229)<br>-<br>____________<br>____________<br>____________<br>**Income**<br>**Expenditure**<br>**Transfers**<br>**£**<br>**£**<br>**£**<br>150,780<br>(157,488)<br>-<br>9,303<br>(9,303)<br>-<br>100,000<br>(95,245)<br>-<br>35,960<br>(41,818)<br>-<br>4,000<br>(4,000)<br>-<br>1,190<br>(1,190)<br>-<br>____________<br>____________<br>____________<br>301,233<br>(309,044)<br>-<br><br><br>|**2022**<br>**£**<br>46,140<br>5,037<br>-<br>____________<br>51,177<br>____________<br>**Balance at**<br>**31.3.2023**<br>**£**<br>8,750<br>14,583<br>20,000<br>-<br>____________<br>43,333<br>____________<br>**Balance at**<br>**31.3.2022**<br>**£**<br>13,133<br>-<br>34,529<br>5,520<br>-<br>-<br>____________<br>53,182<br>|
|---|---|---|



- 2InSpire Youth Clubs – Providing a range of activities and opportunities for young people living in Walworth 

- InSpire Building – Supporting the overhead costs estimated to operate the charity’s operating locations and facilities 

- Estate Based Work – Providing outreach activities for young people in North Southwark 

- Parenting – supporting vulnerable parents and their families in Southwark 

- InSpire to Work – Supporting young people aged 16-25 into employment and work-related opportunities 

- Adult Programme – Providing a range of activities and skills to older residents living in Walworth including those with mental health conditions and other disabilities 

21 



**INSPIRE WALWORTH (Formerly known as Inspire at St. Peter’s) (A company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|**2023**<br>Fixed assets<br>Net current assets<br>**2022**<br>Fixed assets<br>Net current assets|**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**£**<br>**£**<br>-<br>8,592<br>43,333<br>(16,184)<br>____________<br>____________<br>43,333<br>(7,592)<br>____________<br>____________<br>**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**£**<br>**£**<br>-<br>13,768<br>53,182<br>26,138<br>____________<br>____________<br>53,182<br>39,906<br> <br>|**Total**<br>**Funds**<br>**£**<br>8,592<br>27,149<br>____________<br>35,741<br>|
|---|---|---|
|||____________<br>**Total**<br>**Funds**<br>**£**<br>13,768<br>79,320<br>____________<br>93,088<br>|



## **14. FINANCIAL COMMITMENTS** 

At 31 March 2023, the Trust had annual commitments under operating leases, total future minimum finance lease payments are as follows: 

|Due within one year<br>Due within two to five years|**Land and Buildings**<br>**2023**<br>**2022**<br>**£**<br>**£**<br>2,592<br>28,812<br>-<br>9,720<br>____________<br>___________<br>2,592<br>38,532<br><br>|
|---|---|



## **15. COMPANY LIMITED BY GUARANTEE** 

The Charity is limited by guarantee and accordingly has no share capital.  The liability guaranteed by each member is £10.  At 31 March 2023 the membership was twelve (2022: twelve). 

## **16. RELATED PARTY TRANSACTIONS** 

There are no related party transactions during the year (2022: £Nil). 

22