BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
Registered number: 5300691 Charity number: 1108777
OFF THE FENCE TRUST LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 - 2 |
| Trustees' report | 3 - 7 |
| Trustees' responsibilities statement | 8 |
| Independent auditors' report on the financial statements | 9 - 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 |
| Statement of cash flows | 15 |
| Notes to the financial statements | 16 - 34 |
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Mr Graham Hollebon, Chair (resigned 24 September 2024) Mr David Jonathan Mellard, interim Chair (appointed 17 September 2024) Mr Greg Peacock (resigned 10 February 2024) Mr Simon Ritchie, Treasurer (appointed 10 February 2024) Mr Gerhard Schulz, Treasurer (resigned 4 June 2024) Mrs Jean Cooke Mr Matthew Weir Mrs Hannah Lancaster (resigned 4 June 2024) Miss Daniela Bayman (appointed 19 March 2024) Mr Max Mkandawire Mrs Rebecca Du Preez (resigned 4 June 2024) Mrs Aat Janet Shelley (appointed 17 September 2024)
Company registered number
5300691
Charity registered number
1108777
Registered office
37 Portland Road Hove BN3 5DQ
Company secretary
Sarah White
Chief executive officer
Julio Abraham
Independent auditors
Baldwin Scofield Limited Chartered Accountants 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU
Bankers
HSBC Bank plc 153 North Street Brighton East Sussex BN1 1SW
Page 1
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Patrons
Dr Rodney Queen, Peter Kyle MP, Cllr Dee Simpson, Michael Chowen, Maureen Chowen, Bruno Salter, George Verwer, Graham and Rachel Potter, Claire Martin OBE
Page 2
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the audited financial statements of the Off The Fence Trust Limited for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
The charity's vision is to create a community where every individual has the opportunity to thrive, free from spiritual and social poverty.
Mission Statement
The mission of Off The Fence is to eradicate social and spiritual poverty in Brighton & Hove. We provide practical and emotional support to those experiencing homelessness and those at risk, empowering them to overcome challenges such as addiction and unemployment, and access stable accommodation. We offer a safe space and support groups for vulnerable women and work with young people in schools through mentoring and prayer spaces. To address the root causes of social issues, such as broken relationships, addictions, and mental health needs, through a holistic, Christ-centered approach.
Values
The values agreed by the Off the Fence team and the underpinning to our day-to-day decision making are:
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Compassion
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Excellence
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Integrity
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Unity
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Christ-like
The objectives are to:
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Offer professional and quality services to all our clients.
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Provide effective solutions to homelessness, offer practical and emotional support for isolated women, prevent school exclusions and provide schools with positive mentoring, individual support, structured activities, and faith-based resources.
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Equip others to address and overcome social and spiritual poverty.
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Show God's love in action.
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Teach life skills and build relationships that lead to a better future for all.
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Provide long-term (and where necessary, life-term) care and support for clients.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 3
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities (continued)
Activities undertaken to achieve objectives
The charity is organized into four frontline projects as well as the core infrastructure:
• Antifreeze - working directly with rough sleepers on the streets of Brighton & Hove, providing advice and support at the day center, which provides hygiene services for rough sleepers, including laundry, showers & supplies. The Antifreeze program prioritises sustainable solutions for individuals experiencing homelessness, with an emphasis on long-term recovery and support.
• Schools & Youth - supporting schools with lunch clubs, classroom work, pastoral care, inclusion projects, PSHE classes, and prayer spaces. This program aims to improve student attendance, behavior, and academic performance.
• Gateway - provides a safe space and support network for women facing vulnerabilities, offering support groups, advocacy, skills development, and opportunities for community building to foster emotional resilience, personal growth, and social inclusion.
- Ministry - a Christian ministry, with training and a support service.
Volunteers
We would like to thank the army of volunteers who give to us many thousands of man hours per year free of charge; the impact on this City is incalculable.
Achievements and performance
Review of activities
This year has been one of significant change and transition for Off The Fence, marked by the departure of our founders, Paul and Wendy, who retired in January after many years of dedicated service. We are deeply grateful for their vision and commitment, which laid the foundation for our ongoing work in the city.
Despite a challenging economic climate, we have maintained a strong financial position, thanks to the continued support of our funders and our ongoing efforts to refine our fundraising strategies. We are actively managing our expenses and remain debt-free. Our reserves are healthy, and we retain full ownership of two key properties that directly support our mission.
The strategic decision to divest a non-essential property further strengthened our financial foundation. This has unlocked resources for reinvestment, allowing us to explore new avenues for supporting our frontline work and expanding our reach and impact. Our priorities include developing strategies and partnerships to address the urgent need for stable accommodation for those facing homelessness.
We have also welcomed new leadership, with Julio Abraham stepping into the role of CEO and Sarah White joining as our Chief Operations Officer. Their expertise and guidance will be invaluable as we navigate the challenges and opportunities ahead.
In addition, we have welcomed new members to our Board of Trustees, bringing fresh perspectives and valuable skills to our governance. We are confident that their contributions will further strengthen our organisation and support our mission to eradicate social and spiritual poverty in Brighton & Hove.
As we move forward, we remain committed to providing high-quality services, addressing root causes, and empowering individuals and communities to thrive. We are grateful for the ongoing support of our partners, volunteers, and donors, and we look forward to continuing our work together to make a lasting difference in the lives of those we serve.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
Information on fundraising practices
The charity conducts its own fundraising directly and is not aware of any fundraising carried out on it's behalf by anyone else. It is registered with the Fundraising Regulator (an independent regulator that sets, revises and enforces the code in consultation with the public, fundraising stakeholders and other regulators) and complies with it’s standards. The charity has received no complaints about fundraising activities and takes care to protect vulnerable people from intrusive or persistent or pressured fundraising activity.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies note.
Reserves policy
The required level of reserves (as set out in our policy) is to set aside up to six months running costs. The Trustees consider that reserves at this level will ensure that, in the case of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to the ways in which additional funding may be raised. Budgeted monthly running costs for the next year are £62,500 per month, with a six months reserve being £375,000.
Principal funding
The charity received total income of £1,095,236 (2023- £749,503) which included Gifts in kind amounting to £19,123 (2023 - £14,089).
As you will notice, OTF had a steady year in finance, we have planned that for the new financial year the charity will remain strong as we have set out a realistic but far impacting budget. We had carefully planned at the beginning of the year to have higher reserves for the financial year as we were aware that the charity is growing in size and needs more long term stability. This year’s budget is ambitious but in line with our five year business plan.
Investment continues to be made in Fundraising and Core in order to keep up with demand on the projects and to ensure Off The Fence continues as a well-run and stable charity. The number of clients visiting our services has continued to increase during the course of the year. We forecast that even in this time of uncertainty with careful planning we will be able to give this City even better long-term services.
Structure, governance and management
Constitution
Off The Fence Trust Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
Methods of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. None of the Trustees has any beneficial interest in the company.
Organisational structure and decision-making policies
The projects are supervised by Managers who report to the Chief Operations Officer, who reports to the Chief Executive Officer (CEO) who is responsible for the day to day operations of the charity and is accountable to the Board of Trustees.
The Board of Trustees provides governance and strategic direction, ensuring that the charity's activities align with its charitable objectives and legal responsibilities. In addition to the full Board, we have established subcommittees focused on key areas such as Finance and Safeguarding. These committees provide specialised oversight and contribute to informed decision-making.
To ensure a safe and healthy working environment, we partner with Adastra HR for comprehensive HR, Health & Safety support.
Risk management
The Trustees have assessed the major risks to which the company is exposed, for each of the projects and in particular those related to the operations and finances of the company. The Trustees are satisfied that systems and procedures are in place to mitigate exposure to the major risks (full risk management strategy document available on request).
Plans for future periods
The coming year will see Off The Fence continuing to adapt and refine its services to meet the evolving needs of our community. We are developing the Wellness Hub concept, with the goal of creating a collaborative space to address the root causes of social issues. We are committed to expanding our support for those experiencing homelessness, and are exploring new ways to help individuals and families access stable accommodation. We will continue to strengthen our partnerships with local schools, providing targeted support and resources to address challenges faced by young people. Our Gateway women's program will continue to offer a safe and supportive environment, with a focus on empowering women to overcome vulnerabilities and build resilience. We are also exploring options to optimise the utilization of our existing properties to better serve our clients and maximise our impact. Throughout this period of growth and development, we remain dedicated to prudent financial management and to securing the resources necessary to sustain our vital work in the community.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Auditors
The auditors, Baldwin Scofield Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 29 November 2024 and signed on their behalf by:
Mr David Jonathan Mellard
29/11/2024
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 29 November 2024 and signed on its behalf by:
Mr David Jonathan Mellard
29/11/2024
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OFF THE FENCE TRUST LIMITED
Opinion
We have audited the financial statements of Off The Fence Trust Limited (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OFF THE FENCE TRUST LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 10
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OFF THE FENCE TRUST LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant are those that relate to the reporting framework in conformity with the requirements of the Companies Act 2006 and Charities Act 2011 and the relevant direct and indirect tax compliance regulations in the United Kingdom.
We understood how the charitable company is complying with those frameworks by making enquiries of management to understand how the charitable company maintains and communicates its policies and procedures in these areas and corroborated this by reviewing supporting documentation and minutes of meetings of those charged with governance.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by considering the risk of management override to be a fraud risk. In addition, we considered the risk of management override by sampling from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria and investigated these to gain an understanding and then agree back to source documentation.
Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions were recorded in compliance with Financial Reporting Standards in conformity with the requirements of the Companies Act 2006 and Charities Act 2011.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF OFF THE FENCE TRUST LIMITED (CONTINUED)
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Baldwin Scofield Limited
Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 29 November 2024
Baldwin Scofield Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net (expenditure)/income Transfers between funds 16 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Gains on disposal of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 182,020 87,342 50,633 - 319,995 - 495,106 495,106 (175,111) 169,350 (5,761) - (5,761) 1,030,049 (5,761) 1,024,288 |
Unrestricted funds 2024 £ 314,684 2,845 42,393 4,502 364,424 101,326 325,332 426,658 (62,234) (169,350) (231,584) 410,817 179,233 479,447 179,233 658,680 |
Total funds 2024 £ 496,704 90,187 93,026 4,502 684,419 101,326 820,438 921,764 (237,345) - (237,345) 410,817 173,472 1,509,496 173,472 1,682,968 |
Total funds 2023 £ 581,757 20,289 146,879 578 |
|---|---|---|---|---|
| 749,503 | ||||
| 131,688 604,845 |
||||
| 736,533 | ||||
| 12,970 - |
||||
| 12,970 - |
||||
| 12,970 | ||||
| 1,496,526 12,970 |
||||
| 1,509,496 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 34 form part of these financial statements.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 5300691
BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 13 | 801,158 | 1,248,642 | ||
| Current assets | |||||
| Debtors | 14 | 2,975 | 3,709 | ||
| Cash at bank and in hand | 921,281 | 274,001 | |||
| 924,256 | 277,710 | ||||
| Creditors: amounts falling due within one | |||||
| year | 15 | (42,446) | (16,856) | ||
| Net current assets | 881,810 | 260,854 | |||
| Total net assets | 1,682,968 | 1,509,496 | |||
| Charity funds | |||||
| Restricted funds | 16 | 1,024,288 | 1,030,049 | ||
| Unrestricted funds | 16 | 658,680 | 479,447 | ||
| Total funds | 1,682,968 | 1,509,496 |
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 145 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 29 November 2024 and signed on their behalf by:
Mr Simon Ritchie
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29/11/2024
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The notes on pages 16 to 34 form part of these financial statements.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Net cash provided by/(used in) investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 16 to 34 form part of these financial statements |
2024 £ (188,223) 4,502 845,000 (13,999) 835,503 - 647,280 274,001 921,281 |
2023 £ 54,146 578 - (293,751) (293,173) - (239,027) 513,028 274,001 |
|---|---|---|
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. General information
The company is a company limited by guarantee. The members of the company are the Trustees named on page 2. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Off The Fence Trust Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
- Freehold property 2% straight line on buildings - Property improvements over the period of the lease - Plant and machinery 25% straight line - Fixtures and fittings 25% straight line - Computer equipment 33% straight line
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account.
Page 17
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.9 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 18
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. Income from donations and legacies
| Donations Legacies Grants Similar incoming resources Donations Legacies Grants Similar incoming resources |
Restricted funds 2024 Unrestricted funds 2024 £ £ 39,232 145,305 - 68,000 134,268 96,033 8,520 5,346 182,020 314,684 Restricted funds 2023 Unrestricted funds 2023 £ £ 112,100 187,193 - 10,000 178,464 93,760 - 240 290,564 291,193 |
Total funds 2024 £ 184,537 68,000 230,301 13,866 |
|---|---|---|
| 496,704 | ||
| Total funds 2023 £ 299,293 10,000 272,224 240 |
||
| 581,757 |
4. Income from charitable activities
| Income from charitable activities - Gateway Rental income Rental income |
Restricted funds 2024 Unrestricted funds 2024 £ £ 87,342 - - 2,845 87,342 2,845 Unrestricted funds 2023 £ 20,289 |
Total funds 2024 £ 87,342 2,845 |
|---|---|---|
| 90,187 | ||
| Total funds 2023 £ 20,289 |
Page 19
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Income from charitable activities (continued)
5. Income from other trading activities
Income from fundraising events
| Sponsored events Sponsored events Insurance claim |
Restricted funds 2024 Unrestricted funds 2024 £ £ 50,633 42,393 Restricted funds 2023 Unrestricted funds 2023 £ £ 87,670 57,864 - 1,345 87,670 59,209 |
Total funds 2024 £ 93,026 |
|---|---|---|
| Total funds 2023 £ 145,534 1,345 |
||
| 146,879 |
6. Investment income
| Unrestricted funds 2024 £ Bank interest 4,502 Unrestricted funds 2023 £ Bank interest 578 |
Total funds 2024 £ 4,502 |
|---|---|
| Total funds 2023 £ 578 |
Page 20
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
7. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2024 £ Other fundraising costs 9,809 Fundraising staff costs 91,517 101,326 Unrestricted funds 2023 £ Other fundraising costs 35,822 Fundraising staff costs 84,272 Costs of raising voluntary income - NI 5,757 Costs of raising voluntary income - pension costs 5,837 131,688 |
Total funds 2024 £ 9,809 91,517 |
|---|---|
| 101,326 | |
| Total funds 2023 £ 35,822 84,272 5,757 5,837 |
|
| 131,688 |
Page 21
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Analysis of expenditure on charitable activities
Summary by fund type
| Schools & Youth Ministry Gateway Antifreeze Capital appeal Support costs Schools & Youth Ministry Gateway Antifreeze Capital appeal Support costs |
Restricted funds 2024 Unrestricted funds 2024 £ £ 127,655 14 81,786 60,000 123,630 - 140,992 - 21,043 67,658 - 197,660 495,106 325,332 Restricted funds 2023 Unrestricted funds 2023 £ £ 117,191 - 76,239 - 109,602 - 149,437 - 28,424 - - 123,952 480,893 123,952 |
Total 2024 £ 127,669 141,786 123,630 140,992 88,701 197,660 |
|---|---|---|
| 820,438 | ||
| Total 2023 £ 117,191 76,239 109,602 149,437 28,424 123,952 |
||
| 604,845 |
Page 22
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities
| Schools & Youth Ministry Gateway Antifreeze Capital appeal Support costs Schools & Youth Ministry Gateway Antifreeze Ministry Support costs |
Activities undertaken directly 2024 £ 127,669 141,786 123,630 140,992 88,701 - 622,778 Activities undertaken directly 2023 £ 117,191 76,239 109,602 114,269 28,424 - 445,725 |
Support costs 2024 £ - - - - - 197,660 197,660 Support costs 2023 £ - - - 35,168 - 123,952 159,120 |
Total funds 2024 £ 127,669 141,786 123,630 140,992 88,701 197,660 |
|---|---|---|---|
| 820,438 | |||
| Total funds 2023 £ 117,191 76,239 109,602 149,437 28,424 123,952 |
|||
| 604,845 |
Page 23
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Professional fees Insurance Rent and service charge Rates and water Electricity and gas Travel costs Exhibition and conferences Sundry expenses Printing, stationery and postage Computer costs Repairs and renewals Outreach costs Exgratia payment |
Schools & Youth 2024 £ 110,618 462 300 309 5,100 306 1,101 2,800 - 591 3,042 778 1,312 950 - 127,669 |
Ministry 2024 £ 78,622 - - 2,133 - - 28 224 - 32 - 150 597 - 60,000 141,786 |
Gateway 2024 £ 98,711 - 210 1,000 - 295 1,799 1,045 2,642 561 2,000 134 8,782 6,451 - 123,630 |
Antifreeze 2024 £ 93,696 2,158 124 - - 1,415 932 5,539 2,977 1,572 2,475 357 7,666 22,081 - |
|---|---|---|---|---|
| 140,992 |
Page 24
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Professional fees Insurance Rent and service charge Rates and water Electricity and gas Travel costs Exhibition and conferences Sundry expenses Printing, stationery and postage Computer costs Repairs and renewals Outreach costs Legal fees |
Capital appeal 2024 £ 46,368 13,563 11,838 - - - - 1,201 921 2,027 63 108 8,195 - 4,417 88,701 |
Total funds 2024 £ 428,015 16,183 12,472 3,442 5,100 2,016 3,860 10,809 6,540 4,783 7,580 1,527 26,552 29,482 64,417 |
|---|---|---|
| 622,778 |
Page 25
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Professional fees Insurance Rent and service charge Electricity and gas Travel costs Exhibition and conferences Sundry expenses Printing, stationery and postage Computer costs Repairs and renewals Outreach costs Staff costs Depreciation Professional fees Insurance Rent and service charge Electricity and gas Travel costs Exhibition and conferences Sundry expenses Printing, stationery and postage Computer costs Repairs and renewals Outreach costs |
Schools & Youth 2023 £ 101,769 1,084 62 - 5,382 1,344 948 - 579 2,079 325 2,466 1,153 117,191 |
Ministry 2023 £ 74,847 - - - - 61 511 - 282 17 - 521 - 76,239 |
Gateway 2023 £ 93,169 447 50 1,193 770 3,045 1,397 225 338 1,604 642 2,687 4,035 109,602 Capital appeal 2023 £ - 12,970 9,434 - - - - - - - - 6,020 - 28,424 |
Antifreeze 2023 £ 76,544 2,973 348 311 707 2,024 2,516 - 1,831 2,273 612 3,854 20,276 |
|---|---|---|---|---|
| 114,269 | ||||
| Total funds 2023 £ 346,329 17,474 9,894 1,504 6,859 6,474 5,372 225 3,030 5,973 1,579 15,548 25,464 |
||||
| 445,725 |
Page 26
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Marketing and promotion costs Meetings and events Professional fees Insurance Rates and water Electricity and gas Motor expenses Subscriptions Staff training and relocation costs Sundry expenses Printing, stationery and postage Telephone Computer costs Equipment Repairs and renewals Bank charges Audit/Independent examination fees |
Total funds 2024 £ 109,190 10,515 12,000 10,846 6,115 5,492 4,114 6,123 216 2,293 6,250 3,121 1,561 2,395 6,843 88 2,203 3,795 4,500 197,660 |
Total funds 2023 £ 90,683 15,974 - 6,954 7,029 6,636 7,209 5,911 - 2,147 - 659 1,438 1,922 5,472 51 1,581 4,254 1,200 |
|---|---|---|
| 159,120 |
10. Auditors' remuneration
The auditor's/auditors' remuneration amounts to an audit/auditor fee of £4,500 ( 2023 - £1,200 ).
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 549,968 40,241 38,513 628,722 |
2023 £ 468,431 32,000 32,447 |
|---|---|---|
| 532,878 |
Page 27
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
| Administration and management Charitable activities |
2024 No. 6 23 29 |
2023 No. 6 23 |
|---|---|---|
| 29 |
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel are considered to be the Chief Excecutive Officer and his wife. Their remuneration in the current year amounts to £67,900 (2023- £62,950). In addition, they received an exgratia payment on retirement from the charity of a total of £60,000 after over 25 years service.
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .
Page 28
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year On disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold property £ 1,326,046 - (467,829) 858,217 112,680 17,164 (33,646) 96,198 762,019 1,213,366 |
Short-term leasehold property £ 88,584 5,926 - 94,510 60,166 4,086 - 64,252 30,258 28,418 |
Plant and machinery £ 65,724 2,424 - 68,148 59,412 3,018 - 62,430 5,718 6,312 |
Fixtures and fittings £ 17,039 - - 17,039 17,039 - - 17,039 - - |
Computer equipment £ 48,455 5,649 - 54,104 47,909 3,032 - 50,941 3,163 546 |
Total £ 1,545,848 13,999 (467,829) |
|---|---|---|---|---|---|---|
| 1,092,018 | ||||||
| 297,206 27,300 (33,646) |
||||||
| 290,860 | ||||||
| 801,158 | ||||||
| 1,248,642 |
14. Debtors
| Due within one year Prepayments and accrued income Creditors: Amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 2,975 2,975 2024 £ 12,144 17,649 12,653 |
2023 £ 3,709 |
|---|---|---|
| 3,709 | ||
| 2023 £ 8,683 - 8,173 |
15. Creditors: Amounts falling due within one year
Page 29
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. Creditors: Amounts falling due within one year (continued)
| 2024 £ 42,446 |
2023 £ |
|---|---|
| 16,856 |
Page 30
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
16. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Schools and youth Ministry Gateway Antifreeze Capital appeal 2014 Capital appeal 2021 Total of funds |
Balance at 1 April 2023 £ 479,447 - - - 244,390 257,703 527,956 1,030,049 1,509,496 |
Income £ 364,424 19,611 20,000 135,029 136,888 - 8,467 319,995 684,419 |
Expenditure £ (426,658) (127,175) (81,786) (124,110) (140,992) - (21,043) (495,106) (921,764) |
Transfers in/out £ (169,350) 107,564 61,786 - - - - 169,350 - |
Gains/ (Losses) £ 410,817 - - - - - - - 410,817 |
Balance at 31 March 2024 £ 658,680 |
|---|---|---|---|---|---|---|
| - - 10,919 240,286 257,703 515,380 |
||||||
| 1,024,288 | ||||||
| 1,682,968 |
The building refurbishment fund is for the refurbishment of the Antifreeze Centre and David Perrin Centre at 37 Portland Road.
The Capital appeal was established to raise funds for the purchase of a building to house the Antifreeze Centre. The acquisition of 37 Portland Road for this purpose was completed in January 2013. A 2021 appeal was launched to raise funds for the purchase of the Gateway Women's Centre.
The Antifreeze fund is used to provide a place for those who find themselves sleeping on the streets of Brighton & Hove.
The Ministry fund is used to show God's love in action and also to inspire and help local churches to be involved better in social outreach.
The Schools and youth fund is used to offer to local schools a reliable, committed and professional service helping them to meet the requirement of providing for the spiritual needs of their students.
The Gateway fund is used to offer to women a professional and quality service that meets the needs of women experiencing emotional distress and to tailor support to their individual needs.
Page 31
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
16. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Schools and youth Ministry Gateway Antifreeze Capital appeal 2014 Capital appeal 2021 Total of funds |
Balance at 1 April 2022 £ 535,567 - - 7,391 211,787 257,703 484,078 960,959 1,496,526 |
Income £ 371,269 30,146 35,080 58,665 182,042 - 72,301 378,234 749,503 |
Expenditure £ (255,640) (117,190) (76,239) (109,602) (149,439) - (28,423) (480,893) (736,533) |
Transfers in/out £ (171,749) 87,044 41,159 43,546 - - - 171,749 - |
Balance at 31 March 2023 £ 479,447 |
|---|---|---|---|---|---|
| - - - 244,390 257,703 527,956 |
|||||
| 1,030,049 | |||||
| 1,509,496 |
17. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 April 2023 £ 479,447 1,030,049 1,509,496 |
Income £ 364,424 319,995 684,419 |
Expenditure £ (426,658) (495,106) (921,764) |
Transfers in/out £ (169,350) 169,350 - |
Gains/ (Losses) £ 410,817 - 410,817 |
Balance at 31 March 2024 £ 658,680 1,024,288 |
|---|---|---|---|---|---|---|
| 1,682,968 |
Page 32
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
17. Summary of funds (continued)
Summary of funds - prior year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at | Transfers | 31 March | |||
| 1 April 2022 | Income | Expenditure | in/out | 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 535,567 | 371,269 | (255,640) | (171,749) | 479,447 |
| Restricted funds | 960,959 | 378,234 | (480,893) | 171,749 | 1,030,049 |
| 1,496,526 | 749,503 | (736,533) | - | 1,509,496 | |
| Analysis of net assets between funds | |||||
| Analysis of net assets between funds - current period | |||||
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2024 | 2024 | 2024 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 781,792 | 19,366 | 801,158 | ||
| Current assets | 242,496 | 681,760 | 924,256 | ||
| Creditors due within one year | - | (42,446) | (42,446) | ||
| Total | 1,024,288 | 658,680 | 1,682,968 |
18. Analysis of net assets between funds Analysis of net assets between funds - current period
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease in debtors Increase in creditors Net cash provided by/(used in) operating activities |
2024 £ (237,345) 27,300 (4,502) 734 25,590 (188,223) |
2023 £ 12,970 33,448 (578) 4,059 4,247 54,146 |
|---|---|---|
Page 33
BoldSign Document ID: 650bf944-4a2f-4d99-8874-8b2fce8c1933
OFF THE FENCE TRUST LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
20. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2024 £ 921,281 921,281 |
2023 £ 274,001 |
|---|---|---|
| 274,001 |
21. Analysis of changes in net debt
| Cash at bank and in hand | At 1 April 2023 £ 274,001 274,001 |
Cash flows £ 647,280 647,280 |
At 31 March 2024 £ 921,281 |
|---|---|---|---|
| 921,281 |
22. Pension commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £38,513 (2023 - £32,447). £2,139 was payable to the fund at the balance sheet date and is included in creditors (2023 - £919).
Page 34