CHARITY REGISTRATION NUMBER: 1107692
Number One Unaudited Financial Statements
31 March 2024
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Number One
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 9 |
Number One
Trustees' Annual Report
Year ended 31 March 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
| Registered charity name | Number One |
|---|---|
| Charity registration number | 1107692 |
| Principal office | 1 Cubley Road |
| Salford | |
| M7 4GN | |
| The trustees | C Moss-Barclay |
| Mrs F Hess | |
| M E Lieberman | |
| Mrs C Mantel | |
| Mrs C Harris | |
| Independent examiner | Mr Howard Schwalbe ACA |
| 2nd Floor - Parkgates | |
| Bury New Road | |
| Prestwich | |
| Manchester | |
| M25 0TL |
Structure, governance and management
Number one is constituted under a constitution dated 27 October 2002 as amended 16 November 2004. It is a registered charity number 1107692 and was registered on 18 January 2005.
There is no chief executive officer. The day-to-day affairs are undertaken by Mr Frankenhuis on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
A policy and procedure for the induction and training of new trustees is currently being developed and will be implemented in the coming years.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective supervision of the children. These risks are managed by the trustees sourcing appropriate teachers and helpers as well as ensuring the venue of the club is appropriate.
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Number One
Trustees' Annual Report (continued)
Year ended 31 March 2024
Objectives and activities
The objects of the charity are:
(1) to promote and advance the education of children and young people of the orthodox Jewish faith and to develop their capacity and skills, in particular, but not exclusively, by the provision of training courses, with a view to enabling them to enhance their prospects of employment and conditions of life and to participate more fully in society;
(2) the provision of facilities for recreation and other leisure time occupation for children and young people who are in need of such provision because of their youth, age, infirmity, poverty or social and economic circumstances and with the object of improving their conditions of life.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.
Grant making policy and grant funding
The charity is funded partly by grant funding and partly by donations.
There were no individual or institutional grants made during the year.
The charity invites applications for funding through contacting grant making authorities and local philanthropists to contribute towards projects that are appropriate for the charity's objects.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees consider the shorter-term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
The charity received grant funding from Salford Community amounting to £8,140, along with another smaller grant.
The trustees wish to record their appreciation to all the above benefactors for their kind support of the activities of the charity.
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Number One
Trustees' Annual Report (continued)
Year ended 31 March 2024
Achievements and performance
The charity received £9,940 in grants during the year as well as £15,985 in fees and £8,599 in donations. The charity paid out a total of £44,365 for craft classes operated by the charity and other direct costs that include small office costs as well as support and governance costs.
These craft classes are in line with the objects of the charity.
The charity has low governance costs comprising professional fees.
There were no related party transactions in the reporting period.
There were no material fundraising costs during the year.
There was an overall net expenditure and net movement for the year amounting to £9,841, being net incoming unrestricted funds amounting to £5,332, and net expenditure from restricted funds amounting to £15,173.
Overview of Number One
There was an overall net expenditure and net movement in resources for the year amounting to £9,841 as detailed on the Statement of Financial Activities.
Number One was set up in 2002 with the aim of providing evening and weekend practical woodwork and other arts and crafts activities to inner city young people aged 8 to 14 years, who were at risk of dropping out of the system for various reasons.
With the help of our funders, both from within and without the community, and the strong community support we enjoy as a result of our good reputation and quality services to all, regardless of ability or disability, and supported by community volunteers, we have consistently been providing high quality services to our target group over all these years, and have seen the need grow as the years have passed and life has become more challenging; we now provide services to 125 young people annually.
We targeted and continue to target young people from low-income families, those who are finding it difficult to achieve in school, others with family problems such as dissolutional parenting, siblings and/or parents with physical, mental or emotional difficulties, or indeed any area of disadvantage which puts them at risk of becoming NEET.
We also target children with above average attainment levels (who are also at risk) by providing them with enrichment programmes that serve to keep them enthused and motivated both at home and in school.
Number One has seen great success over the 18 years of its existence, with the vast majority of its users rescued from what seemed to be inevitable future failure, and instead supported to achieve their potential, and lead productive, useful and successful lives - we have seen graduates from our programmes continue in the field, accessing training, leisure and employment opportunities.
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Number One
Trustees' Annual Report (continued)
Year ended 31 March 2024
Financial review
The trustees feel that the activity reflects the profile and standing within the local community. The impact for future year's expenditure is self-evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
Reserves policy
The unrestricted fund represents the unrestricted funds arising from past operating results.
The trustees are satisfied that the balance of the fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.
The free reserves, represented by the net current assets of the charity stand at £20,590 of which £3,770 are restricted.
The trustees' annual report was approved on 28 January 2025 and signed on behalf of the board of trustees by:
C Moss-Barclay
Trustee
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Number One
Independent Examiner's Report to the Trustees of Number One
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Number One ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no 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.
Mr Howard Schwalbe ACA
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
28 January 2025
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Number One
Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 8,599 | 9,940 | 18,539 | 43,738 |
| Other trading activities | 5 | 15,985 | – | 15,985 | 7,164 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 24,584 | 9,940 | 34,524 | 50,902 | |
| ============================ | ======================= | ============================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 19,252 | 25,113 | 44,365 | 28,856 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 19,252 | 25,113 | 44,365 | 28,856 | |
| ============================ | ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net (expenditure)/income and net | |||||
| movement in funds | 5,332 | (15,173) | (9,841) | 22,046 | |
| ============================ | ============================ | ============================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 11,488 | 18,943 | 30,431 | 8,385 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 16,820 | 3,770 | 20,590 | 30,431 | |
| ============================ | ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
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Number One
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 13 | – | 47 | |
| Current assets | ||||
| Cash at bank and in hand | 21,190 | 32,984 | ||
| Creditors: amounts falling due within one year | 14 | 600 | 2,600 | |
| ---------------------------- | ---------------------------- | |||
| Net current assets | 20,590 | 30,384 | ||
| ---------------------------- | ---------------------------- | |||
| Total assets less current liabilities | 20,590 | 30,431 | ||
| ---------------------------- | ---------------------------- | |||
| Net assets | 20,590 | 30,431 | ||
| ============================ | ============================ | |||
| Funds of the charity | ||||
| Restricted funds | 3,770 | 18,943 | ||
| Unrestricted funds | 16,820 | 11,488 | ||
| ---------------------------- | ---------------------------- | |||
| Total charity funds | 15 | 20,590 | 30,431 | |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 28 January 2025, and are signed on behalf of the board by:
C Moss-Barclay Trustee
The notes on pages 8 to 15 form part of these financial statements.
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Number One
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 1 Cubley Road, Salford, M7 4GN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fair value
Debtors and creditors are stated at fair value.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds held by the charity are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds held by the charity relate to craft materials and related items.
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 8,599 | – | 8,599 |
| Grants | |||
| Grants receivable | – | 9,940 | 9,940 |
| ----------------------- | ----------------------- | ---------------------------- | |
| 8,599 | 9,940 | 18,539 | |
| ======================= | ======================= | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 18,595 | – | 18,595 |
| Grants | |||
| Grants receivable | – | 25,143 | 25,143 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 18,595 | 25,143 | 43,738 | |
| ============================ | ============================ | ============================ |
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Other trading activities
| Unrestricted | Unrestricted | Total Funds |
Unrestricted | Total Funds | ||
|---|---|---|---|---|---|---|
| Funds | 2024 |
Funds | 2023 | |||
| £ | £ | £ | £ | |||
| Fees received | 15,985 | 15,985 |
7,164 | 7,164 | ||
| ============================ | ============================ | ======================= | ======================= | |||
| 6. | Expenditure on charitable activities by fund type | |||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2024 | ||||
| £ | £ | £ | ||||
| Craft classes and enrichment sessions | 18,652 | 25,113 | 43,765 | |||
| Support costs | 600 | – | 600 | |||
| ---------------------------- | ---------------------------- | ---------------------------- | ||||
| 19,252 | 25,113 | 44,365 | ||||
| ============================ | ============================ | ============================ | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2023 | ||||
| £ | £ | £ | ||||
| Craft classes and enrichment sessions | 22,056 | 6,200 | 28,256 | |||
| Support costs | 600 | – | 600 | |||
| ---------------------------- | ----------------------- | ---------------------------- | ||||
| 22,656 | 6,200 | 28,856 | ||||
| ============================ | ======================= | ============================ | ||||
| 7. | Expenditure on charitable activities by activity | type | ||||
| Activities | ||||||
| undertaken | Support |
Total funds | Total fund | |||
| directly | costs |
2024 | 2023 | |||
| £ | £ | £ | £ | |||
| Craft classes and enrichment sessions | 43,765 | – |
43,765 | 28,256 | ||
| Governance costs | – | 600 |
600 | 600 | ||
| ---------------------------- | -------------- | ---------------------------- | ---------------------------- | |||
| 43,765 | 600 |
44,365 | 28,856 | |||
| ============================ | ============== | ============================ | ============================ | |||
| 8. | Analysis of support costs | |||||
| Analysis of | ||||||
| support costs | Total 2024 | Total 2023 | ||||
| £ | £ | £ | ||||
| Governance costs | 600 | 600 | 600 | |||
| ============== | ============== | ============== | ||||
| 9. | Net (expenditure)/income | |||||
| Net (expenditure)/income is stated after | charging/(crediting): | |||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Depreciation of tangible fixed assets | 47 | 8 | ||||
| ============== | ============== |
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
10. Independent examination fees
2024 2023 £ £ Fees payable to the independent examiner for: Independent examination of the financial statements 600 600
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 £ £ Wages and salaries 24,299 18,540
The average head count of employees during the year was 2 (2023: 2). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Training staff | 2 | 2 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Tangible fixed assets
| Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| At 1 April 2023 and 31 March 2024 | 8,528 | 8,528 |
| ======================= | ======================= | |
| Depreciation | ||
| At 1 April 2023 | 8,481 | 8,481 |
| Charge for the year | 47 | 47 |
| ----------------------- | ----------------------- | |
| At 31 March 2024 | 8,528 | 8,528 |
| ======================= | ======================= | |
| Carrying amount | ||
| At 31 March 2024 | – | – |
| ======================= | ======================= | |
| At 31 March 2023 | 47 | 47 |
| ======================= | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Accruals and deferred income | 600 | 600 |
| Loans | – | 2,000 |
| -------------- | ----------------------- | |
| 600 | 2,600 | |
| ============== | ======================= |
14. Creditors: amounts falling due within one year
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At 01 | At 31 | |||
| Apr 2023 | Income | Expenditure | Mar 2024 | |
| £ | £ | £ | £ | |
| General funds | 11,488 | 24,584 | (19,252) | 16,820 |
| ============================ | ============================ | ============================ | ============================ | |
| At 01 | At 31 | |||
| Apr 2022 | Income | Expenditure | Mar 2023 | |
| £ | £ | £ | £ | |
| General funds | 8,385 | 25,759 | (22,656) | 11,488 |
| ======================= | ============================ | ============================ | ============================ | |
| Restricted funds | ||||
| At 01 | At 31 | |||
| Apr 2023 | Income | Expenditure | Mar 2024 | |
| £ | £ | £ | £ | |
| Craft materials & related items | 18,943 | 9,940 | (25,113) | 3,770 |
| ============================ | ======================= | ============================ | ============================ | |
| At 01 | At 31 | |||
| Apr 2022 | Income | Expenditure | Mar 2023 | |
| £ | £ | £ | £ | |
| Craft materials & related items | – | 25,143 | (6,200) | 18,943 |
| ============== | ============================ | ======================= | ============================ |
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Number One
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | – | – | – |
| Current assets | 17,420 | 3,770 | 21,190 |
| Creditors less than 1 year | (600) | – | (600) |
| ---------------------------- | ----------------------- | ---------------------------- | |
| Net assets | 16,820 | 3,770 | 20,590 |
| ============================ | ======================= | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 47 | – | 47 |
| Current assets | 14,041 | 18,943 | 32,984 |
| Creditors less than 1 year | (2,600) | – | (2,600) |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| Net assets | 11,488 | 18,943 | 30,431 |
| ============================ | ============================ | ============================ |
17. Taxation
Number One is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
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