Company No. 05179158 HOME-START CROYDON ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Regirfered Charity No 1107857 BRrrr & KEEHAN CHARTERED ACCOUNTANTS 33 GRIMWADE AVENUE CROYDOIY CRO SW
HOME-START CROYDON INDEX Pigt Contents Legal and Admintstrative Details Tntstees. Report Independent Examiner's Report Staiement of Financial Activities Balanc¢ Sheet 9-14 Notes to the Accounts
HOME-START CROYDON LEGAL AND ADMINISTRATIVE DETAILS TnteeS & Directors: Barbara Frosl Nigel Bishop Parameswar Menon Sally Cloves Abhai Bhargava Tiffany WatL8 Anne Foster (resigned 21.10.2022) Helen Butlin (appoinied 8.4.2022} Ruth JohrlOn (appointed 26.4.2022. resigned 7.12.2022) ShaTmmila Jeganmogan (appoinled 28.4.2022, resignedl 8. 1.2023) Ruth Cloves (apwinied 2 May 2022) Treasurer (appointed I1.5.2023} (resigned 10. 3.2023) Company Secretary: Position Vacant Bankers: Barclays Bank Pl¢ Independent Examiner: Britt & K¢¢han Chartered Accounlants 33 Grimwade Avenue Croydon CRO 5DJ Regi8t¢red Office: 1-8 RanY Court 122 Church StsEet Croydon CRO IRF Charity Nuniber: 1107857 Company Number. 5179158
HoMART CROYDON TRUSTEES, REPORT FOR THE YEAR TO 31 MARCH 2023 The Ttee8 present th¢iT Report for th¢ year et)ded 31 March 2023 The members of the Managemeni Conunittee (who are a]so the TnleeS and Directors} of the charity during, and after the year, w¢r¢: Bafoara Frost Nigel Bishop Pardmeswar Menon Sally Cloves Abhai Ilhargava Tiffany Watts Ann¢ Foster Helen Builin Ruth Johnston Sharnunila Je8atllnogan Ruth Cloves Chair Trwurer (appointed I1.5.2023) Previous Treasurer (resigned 10 March 2023) Individual Individual tndividual Individual (resigned 21° (ktober 2022) tndividual (appointed 8 April 2022) Individual (apInt¢d 26 April 2022. resigned 7 D¢c¢mber 2022) Individual (appointed 28, April 2022. Tesigned 18 January 2023) Individual (apkx)inted 21P May 2022) Managemeni Committ¢¢ member5 are ¢lecled or appointed on an annual basis, with the offic¢r5 being clccted rrorn the membership of the Management Comtnit*e. STRUCTURE. GOVEILYANCE AND MANAGEMENT Home-start Croydon wa5 incorpordted as a Company limitryj by guardntec on 14 July 2005. The company is registered as a Charity with the Cbarity Comtnission (registration number 1107857). The charity was ¢stsblish¢d in 1989 and was previously r¢8lSt¢red with the Chariry CoMmi10n under th¢ r¢gistralion number 803302. The Trustees meet quarterly to ensure compliance with the Memorandum & Articles and the ]K)licies of Home- Start. The day-to-day operation within the policies, forward plan and budgas are delegated to the Manager. Under the Memorandum & Articles of Association the Trust¢e5 appoinl the officers of ihe charity (Chair, Vice Chair, Treasurer, and Secrelary). The Trustees according lo the Articles of Association are elected at the Annual Generdl Meetings. The Trustees may co-opt any person duly quajificd to be appointed as a Tntee and thal person will hold office until th¢ next AGM. ORJECTIVES a) To safeguard, protect and preserve the good health IK)th mental and physical of children and par¢nts of hildr¢n. b) To prevent cruelty to or maltreath]ent of childrfflL c) To relieve Sickne povety al need amongst children and parents of children. d) To promote the educalion of the publi¢ in better standards of childcare within the ar¢a of Croydon and its environs.
HOME-START CROYI)ON TRUSTEES, REPORT FOR THE YEAR TO 31 MARCH 2023 continued ACTIVITIES Home•Start works wlth farnili who are experiencing dlfficulties and who have at least one child under five years of age. Home-slart is an itid¢p¢nd¢nL voluntary organisation which WO towards the increased confid¢nGe and indq)endence of the family by: offerin8 SUPPOrt, friendship and prnctical assistance visiling families in their own hom¢s or conununity locatio$ where the dignity and identity of each individual can bc reSpwt and protected reassuring parents that dIlCultieS in bringing up children are not unusual and encouraging enjoyment in family life. • developing a relationship with the family in which time can be shared and understanding can b¢ developed. the approach is flexible to take a¢¢ount of ditTereni needs. encouraging the parents. strengths and emotional well-being for the Ultinle benefit oftheir children encouraging families to widen tbeir network and effectively use the support and services within the community. ACHIEVEMENTS & PERFORMANCE Home-start Croydon has two dislincl volunteer role5: Home Visiting and Parent Champions. all att¢nd a comprehensive training course and are subject to Ellan DBS checks. Despite the limitations imposed up)n us by the pamdemic re8triciion4 staff and volunteers have conlinued to excel in supponin8 the community (e.g. delivering emergency food parcels (supported and enabled by donations from Waitrose), children's clothes, supplies & toys, booking trnnslation service5 and 50urcing larger ilerns). Volunleers supported families throu8h one-lone support and dir¢ctly in the community. on average givin8 between 2-3 hours cach week. During the year. we received 73 refealS to providc home visitin8 support but. sadly, due to ongoing cuts in our nding, we were only able to action 36 of these (39 children). Additionally, 1669 families (1936 children) Te¢¢ived suppon through sroups and ¢ommunity inleractions durin¥ the year. PUBLIC BENEFIT The Trustees ¢onfirni that they have referred to the guidance conlained in the Charity Cornmission'5 general guidance on public benefit when reviewing our objectives and activities and in planning future activities. It is the judgement of the TNstees thal aclivitics in pursuil of the above objectives ]lY meet the public b¢n¢fit iest, which they have kept in mind in planning programmes for the charity. DIRECTORS, RESPONSIBILITIES Company law rcquir¢s the directors to prepare statements of accouni for each financial year which 8ive a Irue and fair view of the state of alyairs of the company and of its incoming resources and resources expended during that year. Jn prepaTin8 those finala1 statem¢nts, th¢ directots ar¢ required to: select suitable accounting tK>licie5 a1 then apply them consislently: make judgements and cstimatcs that ar¢ reasonable and prudent: state whether th¢ Financial Reporting Standard for Smaller Entities has been followed, subject to any maleTial departures disclosed and explain in the financial ststem¢nts: and prepare the financial staiemenis on the going concern basis unless it is inappropriate to PTesume that the charity will continue in business.
HOME-START CROYDON TRUSTEES, REPORT FOR THE YEAR TO 31 L4RCH 2023 eontinued The directors are responsible for maintaining proper a¢¢ounting Tecords which disclose with reasonable accuracy at any lime the fmancial position of the company and enable them to cnsurc thal the accounls comply wilh the CompleS Act. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and oth¢r irr¢gul8riti¢s. ACKNOWLEDGEMENTS Contracts and Grants rC]ved. London Borough of Croydon The National Lottery People's H¢alth iA)ll¢ry Trust Individual donations (over £1 (X)) received: Charities Aid Foundauon Waitr05e (Sanderstead) Barbara Frost Grdvesend Presbyterian Church Croydon Volunlary Action Croydon Relief In Need CosaTaf Foundation The Pears Foundation Masonic Cbaritable Fund Wailros¢ (Coulsdon) Sally Cloves Selsdon Baptist Church Peter & Tiff8ny Watts Anne Salier We would 8180 like lo re¢ognis¢ and thank ¢v¢ryone WIK) (k*nat¢d smallcr amounts and all our volunteers who donatcd their expenses to th¢ charity. Donations"In Kind" received: London Borough of Croydon wallro (Sandcrstead) Torchlight Ministries Cmydon Croydon Salvation Arniy Waitrose (Coulsdon) Corner House Tea Room Homc-stsrt UK BT Festive Give W¢ would like to express our appreciation and thanks to ail our donors, large and small. including those who contributed vi8 Give As You Live and Amazon Smil< for their financial suppon and generosity without which our aims could not be achieved. FINANCIAL REVIEW We are pleased to preseni the accounts for the fman¢ial year 202Y2023. We continue to seek diversified 8ourc¢s of funding to rcducc our r¢liance on fimding from the I(al authority, however the LondoTJ Borough of Croydon remains 8 significant and crucial fimder of our work. Details of Home-start Croydon's revenue and expenditure for the year under revlew and the previous year are shown on pag¢ 7 of th¢ Financial Statement. We recognise, and cannot ignore, the exlent to which our financial viability rests with our funding, which comes without any future guarantees beyond the current financial year ending March 2024. We are actively seeking to secure additional fimds to continue our work and will engag¢ with any n¢w ¢on]missioning ptOC&SS in a bid to secure further fimding to meet the neeAls of Croydon families in the future. We remain quietly confident that our past achievements will set us up well for futu funding applications. Throughout this year we have been funded by: London Borough of Croydon (Best Start). Croydon Volunlary A¢tion. The Cosaraf Foundation, The National tA)ttery, Croydon Relief In Nee4 The Pears Foundatio and People's Health Lottery Trust. We are also grateful for the large number of one-off donations to support our work, in particular, a large, anonymo$ donation via the Chariti¢g Aid Foundation. We continue to work hard to identify altIonal opportunities to introduce new progrdmmes to allow us to support more families in the Borough
HOME-START CROYDON TRUSTEES, REPORT FOR THE YEAR TO 31 MARCH 2023 continued We know from our own evidence that the need for our service remains high 8J]d we will continue to highlight this to all poiential fund¢rs. We are also plSed io r¢¢ognise our close working relationship with Council Officers and hope that together we will achieve an amicable way forward for the fllre. It should be Thot¢d that the tnajority of the funds carried forward into the next financial year are allocated for spend in 202112022 due to the receipt of filllA8 where the delivery is split over multiple financial years. We have nilled our net Reserves at a level to meet the tern of our Reserves Policy (sce Ixlow). We coniinue to monitor all of the services we provide using our own evaluation procedures. We also work to the National Home-start Quality Assurance System to ensure that we provide hi8h quality, appropriate, support to our famili¢s. We would like lo thank 811 of our funders for their commitment to our organisation and wc are confident that Home-slart Croydon has the expertise and cap8Clty to meth any new chall¢nge8 and take a prominenl part in future initiatives emanating from the Croydon community and the council's Best Start initiative RESERVES POLICY The Management Committee has agreed a fomiaj policy on reserves. The Trustees have set a Reserves Policy which requires that: Reserves are rnaintained at a level which ensures that Home-start Croydon's core activity could continue durAng a period of Unforeseen circumstances. This is likely to be a reduclion OT cessation of funding. The Managemenl Committee hav¢ r¢viewed the charity's needs for a reserv¢ and agreed th¢ appropriale level. It was agrced to wnlinue a gradual Jc¢rual of Tescrves ov¢r th¢ next 2 years in line with our Service Level Agreement to ¢Ure ih81 our core work would conlinue for a minin]um of 3 months. Such development will bc in line with the annual review of this policy, the latest legislative r¢quirem¢nts and best practice advice provided by the Clwity Con]mission and Home-start UK. IUSK REVIEW The Management Committee bas reviewed the many risks to which Home-start Croydon is exposed And is satisfied that syslcms have or arc being estsbli5hed to mitigate these risks. Disclosure & Balg Smice checks for all volunleers and staff have been impl¢m¢nled. All volunteers undertake a training course al are regularly supervised. Adequate insurance wv¢r for the scheme h&8 been taken out to cover employees and volunteers carrying out work for an on behalf of Home-start Croydon: this includes any claim resulting from alleged or actual abuse. This report is prepared in accordance with the exemptions available to Companies subj1 to th¢ small company's regime within Part 15 of the Companies Act 2006 Signed on be f of the T Barb8ra Fros - Chair of Tntstees Date: 28 November 2023
INDEPENDENf EXAMINER'S REPORT TO THE MEMBERS OF HOME-START CROYDON. I report oll the accounts for the yw ¢nd¢d 31 March 2023, as 5¢t out on pages 7 to 14 Respective responslbilities of dirtttors and examiner As describ on pa8¢ 3. the tNStees (who ar¢ a150 the directOTS of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's ttijsrees consider thal an audit is not Tequir¢d for this year under tIOn 144 (2) of th¢ Clwities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject lo audit under Part 16 of the Companics Act 2(Ki6 and is cligible for independent examination, it is my responsibility to: examine th¢ accounts under se£tion 145 of the 2011 Act; to follow the procedures laid down in the general DirtionS given by the Charily Commissioners under section 145{5)(b) of the 2011 Acl: 8nd to stsle whether particular matters have come to my attentio Baslg of independent examiner's report My examination was conducted in accordance with the general Directions given by the Charity Conmiissioners. An examination Includes a revi¢w of th¢ accounting records k¢pt by the charity 8nd a comparison of the accounls presenicd with those te¢ont8. It also Includ consideration of any nlla1 items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such ma1ters. The pro¢¢dures und¢rtaken do noi provide all the evidence that would be required in an audii and, consequently, no opinion is ¥iven as to whether the accounts preseni a 'true and fair view. and the report is limileA to those matters set out in the 81atemeni below. Independent examiner's •tatement In connection with my examinatlOD, no matter has come to my attcDtion: (i) which gives me reasonable cause to believe thal io any material r¢Spt the requir¢m¢nts,' to keep accountin8 records in accordance with section 386 of the Companies Act 2006: and to prepare accounts which accord with ihc accounting reconls. Comply with the accounting Tcquirernents of the Companies Act 201X> and with the Cknties So1 (FRS 102) have not been rnet; or to which, in my opinion, attention should be drawn in order lo cnablc a proper understanding of the accounts lo be reached. (2) Britt & Keehan ChartereA Accountants 33 Grimwade Avenue, Croydon. CRO 5DJ Date: 28 November 2023
HOME.START CROYDON STATEMEIYT OF FINANCIAL ACTtVTfiES AND INCOME AND EXPENDITURE ACCOU FOR THE YEAR ENDED 31 MARCH 2023 INCOMING RESOURCES Donations AciiVili¢S for geneTaiin8 funds Investment income Charitable activities 66,560 1.695 228 66,560 1,695 228 18,706 610 20 li TOTAL INCOMING RESOURCES 186 927 RESOURCES ExPE,DED Raising fimds Charitable activities 3217 3.217 4.749 TOTAL RESOURCES EXPEI¥DED 235 226 NET (OUTGOJNG)/tNCOMtNG RESOURCES BEFORE TRANSFERS 4,608 (4.571) 37 (48,299) T114NSFER 313 313 4295 (4,258) 37 (48,299) Fund5 brouBht forward at 31 March 2022 14,603 19,393 33,996 82,295 FUNDS CARIUED FORWARD At 31 March 2023 £18,898 £15,135 £34,033 £33,996 The stalemenl of financial activities includes all gain5 and105scs in the ye4r. Ail incoming reSOUTces and resources exp¢nd¢d derive from continuing activities.
HOmE-ART CROYDON BALANCE SHEET AS AT 31 MARCH 2023 NOTES 2023 2022 FIXED ASSETS Tangible Fixed A&sets 433 1,297 CURRENT ASSETS Cash at bank and in hand Debtors 37,448 Itm) 40,233 37,548 40.233 CREDITORS (atnounts falling due within one year) NET CURRENT ASSETS TOTAL ASSETS LLSS CURRENT LIABILITIES £34,033 £33,996 FUNDS Restricted Funds Unreslricied Funds - Gcncral - Designated 15,135 19,393 (1,102) {5,397) £34,033 £33,996 The accounts are kyepared in accordance with the special pyovisions within Part 15 of the CompAnie8 Act 2006 relatin8 to small companies For the financial year ended 3 March 2023 the company was entitled io exemption from audit under section 477 of the Companies Aci 2006 and no noiice has been deposited under se£tion 476. The directors acknowledges their responsibilities for ensuring thai the company accounting records whicb comply with seclion 386 and for preparift8 accounts whi¢h giv¢ a true and fair view of the state of affairs of the company as al the end of t financial year and of lis profit or loss for the financial year in accordance with the requirements of section 396 and which otherwise comply with the requirements of the Cornpanie5 Act 26 relaiing to &cc()unts, so far as applicable to the company. Approved by the Directors on: 28 November 2023 and signed on their b alf by: Signed ... B Frost Chair N Bishop . T[ewer The notes on pa8¢s 9 to 14 forn] an integral part of these accounts.
HOME-START CROYDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNfiNG POLICIES BLs ofAccounling. The financial statements have been prepared in accordance with AccouniÈng and Reporting by Charitics: Statement of R¢¢ommended Practic¢ applicable to charities preparing their accounts in accordance with the Financial R¢wrting Siandard (FRS) 102 and the Companies Act 2006. The financial statements have been prq)ared on a going concern basis. Legal status ofthe charity. The charity is a company lirnited by guarantee and has no share capital. In the ¢vent of th¢ charity being wound up, the liability in respect of the guarantee is limited to £1 P¢T member of the charity. Incoming and Oulsoing resources. All income is accounted for on a receivable basis. Donations in kind are recognized at ihe value to the ehaTity and are included in i)oth income and expenditure. Expendirure is accounted for on an accruals basis. Direct charitable expenditure comprises all expendilure relating io the objects of the chariry, including cosrs Incued in supporting charitabl¢ activiti¢s. Other expenditure compris¢s fund raisin8 Costs and exp¢nditure on the governance of the charity. Where expenditure cannot be direcily allribuied to a single Activiry. it is allocated between activities ¢)n a basis nsIstent with the use of resour. Tansible Fd Aets. h)dividual assets cosling in excess of £l,(XX) are capitalised. Dcpreciation is provided on all iangible red assets at rates ¢al¢ulated to write off the ¢osl less estimated residual value of each asset systematically over its expected usefvl life; Office Equipm¢nt - 25% straight line basis, calculated on a quarterly basis. Lease eosts. Rentals paid under operatin8 leases are char8CS to thc slatcmeDt of financial activities on a straight line basis over the leas¢ l¢rnl. Pension costs. Pension contributions arc charged to the slatemenl of fmancial a¢tivitics as they lall due. Employecs of thc charity att members of a defined contribution pension scheme. PUBLIC BENEFIT The charity meds the definition of a public benefit entity under FRS 102.
HOME-START CROYDON NOTES TO THE FII¥ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 continued FIXED ASSETS TANGIBLE FIXED ASSETS Cost: Bn)u8ht forward Additions Office ui rnenl 4,563 Carried forward Depreciation: Brought forward Charge for the year 3,266 864 Carried forward NET BOOK VALUE Al 31 Marth 2022 297 At 31 March 2023 21Y23 2022 DEBTORS Accounts receivable 10 £100 CREDITORS - Amounts falllng due vAthln one year Income received in &lvance Accruals PA YE due to HMRC Independenl examination & OuntancY fees 137 2.299 54 £3,948 £7,534 io-
HO.ME-START CROYDON IYOTES TO THE FIYANCIAL STATEMENTS (eontlnued) FOR THE YEAR ENDED 31 MARCH 2023 FUNDS RESTRtCTED FUNDS RestriLted funds are those which bave been rnised for specific projects falling within the charitsble objectives: Baiane¢ Bal4n¢¢ National Lottery Pears Foundalion Home Start UK - Connecting from the start Wami spaces, Friendly faces Croydon Relief in Need Peoples Health Lottery TNst Cosardf Charitable Foundation 20,( 20.000 121K) 230 1,200 230 I,IK)O 3.637 5,282 (31) (282) £19.393 £32,022 £36,593 £(313) £15,135 UNRESTRICTED FUKDS Unrestrictd funds are those which the Trustees are free to use in accordance with charitable objectives. Designated funds, within ihe unrestricied fimd4 have been earniarked by the In1¢¢$ for sp¢cific purpose Ban Ex enditure TTansfer General Fund Designated Fund - staifm8 contingency {5,397) 149.799 145.191 (313) (1,102) £14,(3 £149.799 £145,191 £(313) £18,898 SUMMARY OF iYET ASSETS BY FUND Tangible Fixed Net CuTrent Assets TOTAL 2023 TOTAL Restricted General D¢5ignated 15,135 (1.535) 15,135 {1,102) 19,393 (5,397) 433 £433 £33.6(X) £34,033 £33,996
HOME.START CROYDON NOTES TO THE FINANCIAL STATEMENTS (¢onthiu¢d) FOR THE YEAR ENDED 31 MARCH 2023 2022 INCOMING RESOURCES Donationg: General In kind - premises rent Activities for geDeratiDg fund5: Fund raising Administ¢rAng DBS th¢¢ks RIK)m hire Investment Income Charitable Ydedvitlu: London Borough of Croydon'.- Best Siart - Parent champions Best Start - Home visiiing Reni rebaie Peoples Health Lottery Tn DWP Kickstart Up project ABCD partnership with CVA ABCD Ficldway Family Ccjjtre Hom¢ Start UK Other National Lottery Croydon Voluntary Action Pears Foundation Cosaraf ChaTitable Foundation 58,560 9.106 9,600 1,478 115 102 228 600 io 20 39,669 39,672 1,075 47,434 47.377 4,800 6.647 33,750 7,193 5,000 100 20,IM) 3.200 £181821 £186 927 CHARITABLE AcrivrTIES Dlreet Cosl$: Family wups expenses Staff expenses and training Training. Lnforniation & Guidance- Home-start UK Volunteer recruitmenL training & expenses DBS checks Other 3,887 2,182 1070 3,877 240 2,380 5,887 4,798 1,899 263 178 16,405 13.878 Governance costs: Independent Exarniner's fee & accountancy asSiSL)ce Examiner's fee underststed in previous years AGM costs Legal fees 1.512 32 1,440 15.422 140,563 17.845 189,085 Staff salaries (Note I l) Supw)rt Costs: (Note 12) 178 567 £230 477 12-
HOME-START CROYDON NOTES TO THE FINANCIAL STATEMENTS {coDtlnued) FOR THE YEAR EYDED 31 MARCH 2023 2023 2022 10. COSTS OF GEhlRATING VOLUNTARY INCOME Staff sajaries (Note I l) Support costs: (Note 12) Fund raising costs Cost of fund raising events 1,980 321 216 7(K) £3,217 2.247 286 2,216 £4,749 11 STAFF SALARIES Salaries P¢nsioos Self-¢mploy¢d ¢ontractors Employers National Insurance 129,150 3,138 5,410 173,443 4.112 5.817 £142.543 £191,332 DiTe¢t charitsble costs Governance Cost of 8ener8ting funds 137,583 2,980 185.922 3,163 £142,543 £191,332 No employee earned £60,(M)O pa OT Inore. The average number of employees was 7. {2022 -11). 12 SUPPORT COSTS Rent (in kind donation) Rates Stationery and photfrcopier Bank charges Payroll administration costs Telcphone, mobiles and postage Insurance Maintenance computers & office equipment Premises expenses Depreciation Oth¢r mi3G¢llaneous expenses 9.600 1,075 997 276 220 5,278 1,297 2,991 1,512 864 393 £22,903 942 256 193 4,889 1,223 2.950 1,817 864 £23,833 Direct charitable costs Governance Cost of generating fimds 22,078 504 321 £22,903 23,142 405 286 £23,833 Support costs have been allocated on the basis of stsff time and costs incurred. 13-
HOME-START CROYDON NOTES TO THE FINANCIAL STATEMEbTS (¢ODtiDMed) FOR THE YEAR ENDED 31 MARCH 2023 13 TRUSTEE REMUNERATION AND RELATED PARTIES No trustee was paid r¢mulleration or expenses. (2022 - Nil). No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2022 - none). 14 GOING CONCERN The accounts of the charitable company have been prared on a Going Concern basis. which means that the trustees are confident thai the charitable company will still be operating in twelve months from the date of signing these accounts. As detsiled on page 4 of the Trustee Report not all fvnding for ihc fjnancial year ended 31.3.2024 has yet been secured, as is common with many charities. The trnstees and senior management team are taking many actions to secure filnding, however ihe fllwicial siwation at the London Borough of Croydoo is not helpful, in this regard. The trnstees have set aside a designaied fund of £20,) io meet costy if it were lo become necessary to close down the charitable company. If the accounts were not to be prepared on a Going Concem basis, the Balance Sheet, as at 31.3.2023 would not bc materially dIffenI. 14-