apasen I A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company No: 04888707 Charity No: 1114290 APASEN I A COMPANY LIMITED BY GUARANTEE Company Infomiation Directors l Tru51ees Mr Luqeman Hussain Mr Tobaris Ali Ms Suraiya Khatun Mr Syed Gulab Ali Ms Momota Begum (resigned 03107124) Mrs Shoriful Nessa Mrs. Jyotsna Rahman Islam Ms Sultana Monaf Mr. Amir Hussain {resigned 04103124) Chairrnan Treasurer CEO Mr Mahmud Hasan Company number 4688707 Charity number 1114290 Principal and Registered Office Camine Vvharf 30 Copenhagen Place London E14 7FF Auditors Ipsum Accountants Ltd Chartered Certified Accountants and Statutory Auditors 16 High Holbom. London WC1V 6BX Ac(x)untants Abacus Partners {Ldn) LLP Unit A, Abbotts Wharf 93 Stainsby Road London E14 6JL Banker HSBC 1-3 Bishopsgate London EC2N 3AQ APASEN l A Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page I, Trustees, Report 4t016 2. Auditor's Report 17to20 3. Statement of Financlal Artivity 21 4, Statement of Financlal Position 22 5. Statement of Ca5hflows 23 6, Notes to the Financial Statements 24to29 APASEN l A Company Limited by Guarantee) Trustees. Report for the year ended 31 March 2024 The trustees, who are also the Directors of the Companyfor the purpose of the Companie5 Act, present their Annual Report and the financial statements for the year ended 31 March 2024. Incor ratiort and Chan of name The company was incorporated on 6 March 2003 as Asian Parents Association for Special Educational Needs in Tower Hamlets. The name of the company was changed to Apasen, on 29 Septefflber 2016. by special board resolution. Prlncl l artlvltles Apasen's principal activity is the provision of social and community care services. Our objects make specific reference to the following aims- To relieve poverty, social excluslon and deprivation for people with learning difficultles andlor with physical disabilities or other charitable needs. To provide advice, support, information, counselling and training to those in need. To establish and maintain centres for health, education and recreation. . To provide care and sUPPOrt to those in charitable need. The entity is organised with a committee (Board of Directors) elected by the members, to oversee its overall artivities, and one of the committee members, is nominated a5 Chairperson, to monitor day to day running. Dlrectors and inci l offlcers The following officers of the Company have held office forthe whole of the year. Mr. Amir Hossain Chairman Mr. Tobaris Ali Secretary Ms. Suraiya Khatun Treasurer The Board of Directors can appoint additional direttors under the terms of the Company's Articles of Association. APASEN ( A Company Limited by Guarantee) Trustees, Report for the year ended 31 March 2024 OUR SERVICES AND ACHIEVEMENTS: Apasen Home Care Services {HCS) The past year has been a period of both challenges and growth for our Home Care SeNices in Tower Hamlets. While we encountered obstacles, such as waiting times and delays in contract awards, these difficulties motivated us to enhance our operations and innovate cur service delivery. One of our most signlflcant accomplishments this year was the suc￿ssful implementation of an all- In-one rosterin8 System. This new technology has greatly streamlined schedulin& ensuring that clients receive care in a timely and efficient manner. Although there were initial challenges in transitioning to the new system, it has proven to be a positive change, resulting in more organized and responsive service provision. Community enga8ement has been another key area of success. Our ongoin8 efforts to strengthen relationships with local residents have resulted in increased trust and satisfaction with the quality of care we provlde, Feedback has been overwhelmin8ly positive, and the Tower Hamlets Council has reaffirmed its confidence in our service, noting no major concerns with aur delivery. This year also saw the introduction of a comprehensive quality assurance improvement proces5. At the core of this initiative is our new person-centred needs assessment and care planning approach, which allows us to tailor services to the unique requirements of each client. This commitment to personalized care has been recognized beyond our immediate area, with a commissioner from another local authorlty praising our approach. In conclusion. while we faced significant challenge5, our focus on high-quality care, innovation, and ommunity engagement has led to several notable achievements, We are confident that these efforts will continue to Stren8then our services as we move forward into the coming year. Opportunity Zone (OZ) The Apasen Opportunity Zone IOZ) 5UPPOrt5 individuals from diverse ethnic and cultural backgrounds in partnership with the London Boroughs of Tower Hamlets and Hackney, as well as the NHS. With four hub5 across Tower Hamlets, our qualified staff deliver person-centred 5UPPOrt in a positive, safe, and motivating environment. We help service users engage in community life, socialise, travel, and develop independence for healthier, more fulfillin6 lives. For those with Profound and Multiple Learning Disabilities {PMLD), we offer sensory activities aimed at enhancing communication. For adults with moderate leaming disabilities, our employment hub APASEN ( A Company Limited by Guarantee) Trustees, Report for the y8ar ended 31 March 2024 prepares service users for the workforce by building confidence and practical skills through enterprise projects, job placements, and personal development. From April 2023 to March 2024, we provided services to 95 Individuals across our four OZ hubs. Each seNice user follows a personalised activity plan that encourages Skill development and turns challenges into opportunities. We offer a wide range of indoor and outdoor activities. including art, music, exercise, sports, sensory activities, swimming. gardening, and day trips. Many service users also participate in cycling at Victoria Park or multi-sport sessions at Mile End and Whitechapel leisure centres, helping them stay active and healthy. Our goal is to create an inclusive, supportive environment where se￿iCe users feel valued, respected. and motivated to engage in activities that promote joy and personal growth. We also provide culturally appropriate sessions tailored to service users, religious beliefs, respecting their choices and upholding their right to live more fulfilling live5. Notable events this ye3r included the International Day of Persons with Disabilities IIDPDI, LD Week rallies, and celebrations such as Eid. Christmas, birthdays. and service user outings. all of which promoted cultural inclusion and strengthened our community. Newham Opportunity Zone {NOZ) The Apasen Newham Opportunity Zone (NOZI has had another successful year, marked by enthusiasm and growth. As one of the newest initiatives within Apasen Day Services, NOZ continues to provide adult5 Wlth learning di5abilitie5 from the London Borough5 of Newham, Redbridge, and Barking & Dagenham with opportunitie5 to explore new possibilities and integrate into their communities. Guided by a Person-centred Approach, we offer a wide range of activities aimed at fostering personal development and well-bein& including Freehand Exercise, Music Therapy, Beauty Sessions, Pottery Art, Horticulture, Financial Literacy (Money Mattersl, Personal Hygiene Education, Britlsh Sign, Language, DayTrips, and so on. These proErammes not only improve physical health but also empower participants by encouraging active lifestyles and social inclusion. APASEN ( A Cornpany Limitod by Guarantee) Trustees, Report for the year ended 31 March 2024 Key Achlevements12023-2024) Annual sports Oay.. NOZ se￿iCe users participated in a successful sports day at Mile End Stsdium in July 2023. Eid Celebration.. A memorable Eid party was held in collaboration with Newham in April 2024. Growth: Flve new service users joined, bringing the total to sixteen. Staff Development.. 95% of staff completed mandatory certifications, including PAT. MIDAS, and DI driving tests. Challenges and Future Needs To ensure sustainability. we need more referrals and aim to expand our services to support individuals with more complex needs. Additionally, securing an in-house transport solution is essential for the smooth operation of the project. Croydon Opportunity Zone (COZ) Apasen's Croydon Opportunity Zone ICOZI provides culturally sensitive day care services for adult5 with learning and physical dlsabilities from multicultural backgrounds. Our focus 15 on social interaction, maintaining independence, providing carer relief, and empowering service users to make decisions about their lives. COZ offers services that respect service user5, rights, Independence, and inclusion, with actlvities tailored to their faith and language needs. We aim to introduce new activities every three months, in consultation with service users. to ensure continued engagement and growth. Our diverse staff tearn, representing Asian, African. and Middle Eastern background5. offer5 25 stimulating activitie5, including life skills training {literacy, numeracy, ICT, basic food prep, money management. and morel, community access (trips. cultural celebrations, and outings}, and health- related activities {yoga, gym, swimming, and health talks). COZ currently serves 24 users, with three new clients joining this year. This growth has positively impacted our revenue, and we plan to increase both users and revenue In the next financial year. We aim to engage the local community and stakeholders through events like community fairs to raise awarene55 and encourage future referrals. Additionally. Croydon Council has increased service user rates for this financial year, and COZ continues to maintain Strong relationship5 With the council, stakeholders, families, and carers. APASEN l A Company Limited by Guarantee) Trustees, Report for the year ended 31 March 2024 Apasen Training In Social Care {ATSC} Training Suite Relocation.. In August 2023, the AT5C Training Suite moved back to the Head Office basement, now equipped with modern facilities. Training Delivery- Since April 2023, we have delivered 26 classroom courses to 1,900 attendee5, led by internal and external trainers. We also organised Several online Zoom training sessions with Apasen International BD'S care officer5. Specialised Course5'. In addition to mandatory in-house courses, we introduced specialised attredited courses, such as Personal Care, including Catheter & Stoma Care, tailored for carers. External providers like First Response Training and London Training Centre also supported these efforts. Online Training IIHASCOI.. Under our renewable agreement with IHASCO (since October 20211, over 600 Apasen care workers and office staff have access to online health and social care courses. An average of 657 care worker5 completed fNe mandatory refresher trainings this year. Accreditation and Cost Savings: Apasen remains a Nationally Accredited Training Centre under Advantsge Accreditation, allowing our internal trainers to deliver seven accredited courses. resulting in signiflcant savings by redLJcing reliance on external provider5. Emergency First Aid Training.. 98 care workers received emergency first aid training externally this year, but we have now internalized this trainin& saving £5,DJO annually. Level 3 Adult Care Program.. Launched in 2023 through Klaspad Training & Consultancy Services. 17 office staff and care workers have completed 75°A of the course and will receive Level 3 certificates by December 2024. Leadership Training., We launched Level 5 Leadership Training for senior staff, with flnal exams scheduled for November 2024. Additional managerial training programmes will be offered in 2024. Care Certificates & Level 2 Enrolment= Over 80% of our Home Care Workers have completed the Care Certlficate, with plans to enrol them in the Level 2 Diploma in Health and Social Care. New Training Provider (Grey Matter Learning): From 2024. we will introduce Grey Matter Learning IGMLI. an award-winning learntech company offering personalised, targeted e-learning for social care professionals through their Click platform. APASEN ( A Cornpany Limited by Guaranteg) Trustees, Report for the year ended 31 March 2024 Information, Advice, and Advocacy Services (IAA) Apasen's IAA services offer free, independent, and quality-assured advice on social welfare, health, and social care issues to Tower Hamlets residents. In 2023. we supported 1,329 clients, includlng individuals with disabilities, their families, and carers, with issues ranging from benef its and income maximisation to housing, travel, and Social care charges. Key Highlights: Partnerships & Contracts.. We are part of the Tower Hamlets Connect consortium, wlth our contratt extended until April 2025, Addltlonally, we secured an extended contract to provide welfare benefit advice at Royal London H05Pltal, 5tartin8 in April 2024. Workshops: We organised a carbon footprint reduction workshop attended by over 100 clients, sparking enthusiasm for environmental awareness. Court Representatlon.. We now represent Cllents in Personal Independence Payment (PIPI and Unlversal Credit IUC) appeals at HM Court and Tribunal. Accreditations: Successfully renewed our AQS certification for casework in housin& welfare, and disability categories. Staff Development: Our advisersladvocates completed variou5 training program5, including Mental Health, Dementia, Income Maxlmisation, and Universal Credit. Our trainee adviser completed an NVQ Level 3 in Advice and Guldance. Data & Feedback: We use Charity Log for secure data management and conduct quarterty client satisfaction surveys, Feedback shows consistently high satisfaction. Adult Befriending Service - Tower Hamlets (LBTH) The Adult Befriending SeNlce supports elderly indivlduals facing lonellness and social isolation by offering companionship through regular home visits. telephone befriending, and activities. In 2023, we provided services to 31 clients and welcomed four new volunteers. Key Activities: Support Services: We assist clients with light shopping, park walks, medical appointment escorts. and reminiscence activities, Includlng singing for those with dementl3. Expanslon., Began care home visits and monthly group sessions. APASEN l A Company Limited by Guaranlee Trustees, Report for the year ended 31 March 2024 Befriending Week Recognition: We contributed a case study to Befriending Network, receiving high appreciation for showcasing the impact of our services. Training & Development.. Our Befriending Coordinator and Manager attended various training session5, including Conflict Resolution and Safeguarding. Client Feedback.. Regular client surveys show high satisfaction. with many expressing gratitude for the companionship provided. Adult Befriending Service- Redbridge (LBR) Launched in 2023. the Redbridge Befriending Service addresses the isolation of elderly residents. Currently, we support 14 clients and are recruiting more volunteer5. Key Activitles: Hospitsl Visits: Expanded services to V15it clients in hospitals for additional support. Community Engagement= Promoted our services at the Redbridge Provider Forum and Volunteer Fair. Befriending Coordinator.. The dedicated coordinator recruits volunteers, conducts DBS check5. and provides ongoing training. Client Satisfaction: Quarterly surveys indicate high satisfaction, ensuring we meet the evolving needs of the community. Apasen Lodge Annual Report Apasen Lodge provides residential accommodation for individuals aged 18+ with learning and physical or sensory disabilities. Our dedicated team delivers 24n person-centred care, ensuring a focus on choice. equality, diversity, and inclusion. Key Highlights: Quality Rating: Rated "Good by the CQC in Ortober 2019, demonstrating compliance with the 5 Key Domains. Collaboration: We work closely with local authoritie5. the Integrated Care System, and the Single Assessment Frameworkto ensure high standards of care. io APASEN l A Company Limlted by Guarantee) Trustees, Report for the year ended 31 March 2024 Occupancy.. Our occupancy rates have increased to 95-100%, and we are planning future developments to expand our services. Staff Development: All staff have completed the Care Certificate and Positive Behaviour Support Training. We also celebrated their dedication through staff recognition awards. Family & Social Engagement= We encourage visits from family and friends and offer an enriched activity programrne tailored to each residenvs needs. Diversity & Inclusion.. Our multicultural stsff and clients reflect our commitment to a diverse and inclusive environment, promoting holistic. safe, and stimulating care. Redbridge Home and Community Services Over the past year. HCS Redbridge ha5 experienced significant improvements. driven by strong senlor management support and effective collaboration with key Stakeholders. Thi5 report highlights key achievements and outlines areas for future focus to maintaln high standard5. Key Achievernents Positive Ratin and Feedback HCS Redbridge has earned excellent ratings from commi55ionin8 authorities and clients, reflecting high standards of care and service delivery. Positive feedback highlights the success of recent improvements. Collaborative Efforts Strong collaboration with stakeholders has been crucial in implementinE Positive Changes. Regular meetings and feedback sessions have ensured inclusive and transparent decision- making. Future Focus Areas Clinical Governance Continued empha5i5 on robust clinical govemance to maintain quallty care. Strict adherence to Apasen's policies and procedures to meet regulatory standards. lit Assurance Ongoing quality assurance initiative5 to monitor and enhance service delivery. Re8ular audlts and reviews to Identify and address areas for improvement. li APASEN l A Company Llmited by Guarantee) Trustees, Report for the year ended 31 March 2024 Staff Develo ment Addressing skllls and knowledge 8aPS through comprehensive training programmes. Focus on staff development to ensure they are equipped to meet Service demands. HCS Redbridge is committed to sustaining positive progress while addressing emerging challenges. With a focus on clinical governance. qvality assurance, and staff development, the Service remains dedicated to delivering high-quality care and achieving excellent outcomes for clients. Children Befriending Service Servlce Overview The Children Befriending Service support5 children aged 5-18 with Autism and learning disabilities. Each child receives a 3-hour weekly session, typically on weekends to accommodate school Schedules. 8efriender5 pick up and drop off the children, ensuring smooth service delivery. Artlvltles Our outdoor activities focus on social and cognitive development, including: Busnrain ride5, cinema trips, gym visits, and museum tours. Park outin8s, London attractions, and fun fairs lin summer}. Shopping centre visits to promote life skills. In poor weather, indoor activities such as book reading, writing practice, singin& and personalized attivities are provided. Servlce Reach We currently support 58 children in Tower Hamlets with tailored, person-centred care. Training & Development All Befrienders, Coordinator5, and Family Care Supervisors IFCS) have completed Level 2 training in Children Befriending and Safeguarding. Quarterly monitoring is condurted in partnership with the Tower Hamlets Commissioning Team to ensure quality and compliance. Client Feedback and Monitorin8 Family Care Supervisors regularly conduct observations, spot checks, and reviews, collecting parent feedback to maintain high seNice standards and ensure continual improvement. Dlsabled People's Network (DPN) The Disabled People's Network IDPNI in Tower Hamlets. as part of the Equalities Hub. champions the rights of individuals with disabilities and cultivates community leadershlp, 12 APASEN l A Company Limited by Guarantoe Trustees. Report for ihe year ended 31 March 2024 Internatlonal Day of Persons wlth D15abllltles (IDPD) In alignment with the United Nations, Intèrnational Day of Persons with Disabilities on December 3 Apasen hosted a powerful event on December r at the Atrium Events Venue in East London. This vibrant gathering, supported by Tower Hamlets Council, underscored our commitment to raising wareness and celebrating the contributions of individuals with disabilities. DPN Network Meetin85 We engaged over 12 organisations in our network meetings, f05tering collaboration and discussing upcoming events. These meetings facilitated vital conversations around community needs and partnerships with Tower Hamlets Council for funding and health resources. Empowerfng Community Engagement We played an active role In shaping community engagement plans, working closely wlth relevant group5 and partners to ensure the voices of disabled individuals are heard and prioritised. Dlsablllty Sports Day In collaboration with Mile End Stadium, we organized a Disability Sports Day, promoting health and well-being through engaging sports activities that encouraged participation and camaraderie among community members. Consultatlon on Initiatives We collaborated with Tower Hamlet5 Council on various initiatives, including Digital Literacy programs, Corporate Equalities Hub meetings, and the Insights Survey, enhancinB our collective responseto community needs. Insights Survey Participation Our involvement in the In518hts Survey was pivotal in understanding the impact of the cost-of-living crisis on health and well-being within the borough, helping us advocate effectively for ne￿ssary support and resources. 13 APASEN ( A Company Limited by Guarantee Trustees, Report for Ihe year ended 31 March 2024 Strate c Revlew The priority for the year ahead is now to operate a safe and high quality service across our locations. We are committed to improving our customerexperience, and will aim for all our CQC and regulated services to achieve at least -Good" on inspections. The principal risks we continue to face and manage are as below.. Reputational risk from serious incidents- Mitigated by an active training programme, and DBS checks on all frontline staff Property risk5 such as fire or equipment failure- Mitigated by regular buildin8 maintenance and external assessments Commercial risks from comrnissioning change5- Chan8e5 to social care funding arrangements are always a risk year on year. We aim to minimise the impact by being a first choice provider in the communities we serve, through the outreach activities that we continue to do. Financial Revlew The entlty reported a surplus in the year of £1.75m12023: £0.87), with year-on-year increases in rÈvenue from the Charity's care services being a prirnary driver. Net assets are £llm,1£9.22m- 20231. The charity ha5 built up sufflcient unrestrirted reserves to cover cost in emergency scenarios.. the £7m unrestricted fund as demon5tiated in Note 12 of the accounts, Still fall within the range of 3 to 6 months 'operational coverage.. as Set out in our Reserves policv. Reserves The Board ha5 determined that the appropriate level of free reserve5 should be at least equivalent to 3 months, expenditure. and we are currently exceeding this target (See Account5 Note 121. We are aimin8 to be in a position where free reserves are available for approximately 6 month5 of operational expenditure, and we should comfortably continue like this into the next financial year. This is despite the current threat of a drop in service numbers in the Homecare sector. with the entry of additional providers. There are no further plans for capital asset purchases. 14 APASEN ( A Company Limited by Guarantee} Trustees, Report for the year ended 31 March 2024 Goin concern The Board have continued to zdopt the 'going concern, basis for accoLFnts preparation. in light of the reserves position di5CUssed above, and on the basis that management information to date. supports the continuing operational existence of the entity, for the fo￿Seeable future. Despite of anticipated drop in home care income there are no pre-existing or new competitive or environmental pressures that threaten Apasen's financial stability to continue as going concern. Risk mana ment The Trustees regularly discuss the major risks that the Company faces throughout the year, and specific risks are addressed as part of the annual strategic plan. There are systems and procedure5 in place to monitor and control these risks to mitigate any impact they may have. Regular monitoring of rese￿e5 and commltments is one of the fundamentsl ways the organi5ation manages financial rlsk. The entity also ha5 measures to ensure that it maintains good rating5 Wlth the Care Quality Commi55ion. Directors rustees, res nsibilities The Trustees (who are also Directors of Apasen for the purposes of Company lawl are responsible for preparing the Trustees, Annual Report including the Strategic Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the State of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP 2015 IFRS102}: make judgments and estimates that are reasonable and prudent.. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial 5tatements,' and 15 APASEN { A Company Limited by Guarantee) Trustees, Report for the year ended 31 March 2024 prepare the financial statements on the going concern basi5 unless it is not appropriate to assume that the charitable company will continue in operation. The Board of Trustees Is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company, and to enable them to ensure that the financial statements comply with Companies Act 2006. They are also responsible for safeguarding the assets of the company and taking reasonable steps for the prevention and detection of fraud and other irregularities. Each D1￿ctOr / Trustee at the date of approval of this report confirms that: there is no relevant audit information of which the cornpanls auditors are unaware,. and they have taken all the steps that they ought to have taken to make thern5elves aware of any relevant audit information and to establish that the compan¢s auditors are aware of that information. The Trustees, Annual Report and the Strategic Report were approved by the Board of Tru5tee5 lin their capacity as company dirertorsl on 5th November 2024 and signed on its behalf by.. Mr. Luqueman ssain {Chair & Tru5teel 16 APASEN l A Company Limlted by Guarantee) Independent Auditor's Report to the Directors￿rustees of Apasen for Ihe year ended 31 March 2024 Opinion We have audited the financial statements of APASEN (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 notes to the financial statements, 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 lfjngdom Generally Accepted Accounting Practice}. In our opinion, the financial statements.. give a true and fair view of the stste of the charitable company's affairs as at 31 March 2024 and of its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with Internstional Standard8 on Auditing (UK) (ISAS (UK)} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our reporL We are independent of the charitable company in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. WÉ believe that the audit evidence we have obtained is sufficient and appropriate lo 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 Goncern 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 charity's ability to continue as a going concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other inforniatlon The other information comprises the information included in the annual report, other than the financial statements and cur auditorf5 report thereon. The trustees are responsible for the other informats'on. Our opinion on the financial statements does not cover the other information and. except to the extent othetwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other 17 APASEN l A Company Limitad by Guarantee) Independent Auditor's Report to the DirectOrs￿rUStees of Apasen for the year ended 31 March 2024 information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge of events obtsined in the audit. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. Oplnlons on othar matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements- and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are raquired to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audi( we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanaticns we require for our audit. the trustees were not entitled to prepare the financial statements in accordance with the small compenies regime and take advantage of the small companies, exemptions in preparing the tru8tees' report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement in the Trustees, Report, the trustees (who are also the directors of the charitable cornpany 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 ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trust&s are responsible for assessing the company's abilily 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 company or to cease operations, or have no realistic altemative but to do so. 18 APASEN l A Company Limited by Guarantee) Ind8pendent Audilor's Report to the Directors￿ rustees of Apasen for the year ended 31 March 2024 Auditor's responslbilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reagonable 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. Irregularits'e5, 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. Our pr0￿dUreS, designed to detect significant irregularities, including fraud, are detailed below.. We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined the extent of any areas of non- compliance, and their effect on the financial statements, and our audit opinion. We considered provisions of laws and regulations that don't have a direct effect on the financial statements, but where compliance might be fundamental to the charitable company's ability to avoid a material penalty Wè communicated with those charged with govemance, in order to understand whether there were any events that could affect the operational activities of the organisation, or any legal or capital obligations, that could require disclosure. We considered the charity's sUS￿ptibIlity to material misstatement and fraud. Our considerations included the risk of management override, risks relating to existence and pay of staff in various service lines, and allocation of expenditure be￿en funds. We a150 reviewed journal adjustments made by management, to ensure that they had rationale. We verified service delivery income to contracts, and checked that incorne recognised, and the associated costs of generating it, and expended in delivery of projects, was appropriately recognised to their correct financial periods. 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.or . uk/auditorsres nsibilities. This description forms part of our auditor's report. ing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit, in accordance wth auditing standards. For example, the further removed non-compliance with laws and regulations {irregularities) is from the events and transactions reflected in the financial statements, the les5 likely the inherently limited procedures required by auditing standards would identify it. We are not responsible for prevénting non-compliance and cannot be expected to detect non- compliance with all laws and regulations. 19 APASEN l A Company Limited by Guarantee) Independent Auditofs Report to the DIrectors￿ruStees of Apasen for the year ended 31 March 2024 Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit V￿rk has been undertaken, so that we might state to the charitable company's member5 those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report or for the opinions we have fomied. Iqbal Chowdhury (Senior Statutory Auditor) Ipsum Accountants Ltd Chartered Certified Accountants & Statutory Auditors 16 High Holborn London WC1V 6BX SUI November 2024 20 APASEN l A Company Llmited by Guarantèè) STATEMENT OF FINANc￿L ACTtVlmES Ilncorporating Income and Exp8ndilure Accounll FOR THE YEAR ENDED 31 MARCH 2024 Totsl 2024 Totsl 2023 Unrestricted R•strlcted INCOME FROM.. Not88 CHARITABLE ACTIVITIES Opportunily Zone Horne and Cornmunity Senices Athice and ItrfDrtnation Strrnices Ap&88n Lodge Croydon Prr¥8ct TRiniThJ PKyects Di88Èility NeI￿>[k Totsl In¢ome 2,074,526 13.550,832 2,074,526 13,550.832 33,310 595,000 426,699 1,285,798 IZ.437.449 34,163 315,688 3.840 33,310 $95,000 426,699 24,600 57,910 24,600 16,704.967 24, 100 14.481.034 1S,647,OS7 EXPENDITURE ON.. CHARITABLE A¢TIVITies Di￿t Ch8Titablè exsxnditvre 13.626.015 109.421 13,735.436 12,63Z342 Management aNI Admini3tsation 1.217.415 1,217,415 957,773 Totthl Ex￿n￿lI￿re 14.843.430 109.421 14,952.￿1 13,590, 115 NET INCOME IIDEFICITI FOR TFE YEAR 1.803,627 {51.511 1,751116 870.919 Funds a8 at 1 April 2023 Furxl transfer Funds a5at 31 March 2024 9,075.223 125.6361 10,853,214 148.0 25.636 122,163 9.223.261 8,352,342 10,97&377 .223.261 Th8 note8 on p&ye5 24 to 29 fomi Fqrt Oft￿58 firtartI￿ statements. All ihe xtiiities of Ihe compary are from continuing wwati(ns. 21 APASEN l A Company Llmltgd by Guaramge STATEMENTOF FNANCi4L POSMON AS AT 31 WRCH 2024 Totsl 2024 Total N(te$ Fixod A￿ts Freeh)Id Prop*ty Long Le88ehc4d Property Leasehdd ImpD%tments Dep￿s8￿￿j Assds 3,979,305 2.533,188 83B,985 102,358 3.998,741 2.477,320 745,194 161,673 7,453,816 7,382,928 Curr•ntAwts Debtor5 & Prapayments Cash * Bank and in hand 3.020,L 4.733.025 7.753,087 1,7C¢,697 4,536,757 0,243,454 Cr•diiors Amwnt ￿rI￿a du8 Mpilhin ona y8ar 1.051.337 1.OS7,044 N&t Currnnt Awts Total ABEets1•6s ¢uft¥nt IlablllUg8 6,701,750 14.155.se8 5.176,410 12,559.339 Cr•dliO Amwnt falbrvJ ¢ue > one year 10 3,180,1 $9 3.336.077 Totsl NetAa*ts 10.975,377 9,223,261 Fund Unrestrf¢ted ￿￿￿5.. Designated 12 3,876,859 3.719.799 Unrestricted fvnds General Totd Unrestrtcled Wnd 6.976,355 10,853,214 5,355.424 9.075.223 Reslricted Funds 122,163 148.038 Totsl Funds 10,97S,377 9.223,261 The notes on ￿9￿5 24 10 29 fonm part ofthese finartial statamenl$. These finartial Statements hate b88n prepa￿￿ sn a0¢oftla￿e vAth trÉ pro%i$itx)s appllcable to ¢omp8nie5 subjecl lo the small corrpani85' wime and In ac¢o￿anCe with FRS 102"The FSnancW RWng Stsndard appllcable ID Ime UK ard Repthlic cf Irelanrf,. These fina￿1￿ slalements were appro¥ed t1￿ board ol d5￿[8 aThY authori8￿ issue on 5th No*mber 2024, 8TrJ Bre signed (*) tehaifof th oard ty.. Mr Luqu rus￿ Ms Suraya Khatun trreasure 22 APASEN l A Compony Umlted by Guarantee) STATEMENT OF CASHFLOWS fDr y*ai ended 31 March 2024 2D23 Cath flow frDrn Opprating Activlti¢s Operatiny Profit Deweciafion FInar￿ Cogts IGainyLoss on Nxed asset disposal Operatlng Profit Before W0￿1ng Capital Charge• lkncreasellC*crease in OebtOF5 IweasellDecreasel in CreditOTS from Operallon¥ FSnwKe Cost Pld Nèt Cadi Generatgd frgrn Operniions 1.752,116 189.225 273,257 870.919 171,214 152.469 2,214,602 11,313,365) 115,70n 885.530 (273.2571 1,2rxi.602 190.7361 299.453 1,409.319 1152.4691 612.273 1,25￿851 Cath Ilow from Inve8lmentAGtiviti•s Purchase ofTwit4e Fixed Assets Receipts fvc¢n sale of tanglble fixed assets t C•8h Ilt)w from Inv**Jnent Actlviti05 1260.1171 12,317,234) (280.1171 12,317,2341 Ilow frorn Financing Ac1ib￿￿e$ IrrreasellDecreasel of LoF¥J Tprrn LDan 1155.8881 951,244 (156.8881 851,244 t Increa¥#l{docrn•*I In Cash and Cash Equivalents 196,268 1109,1391 0￿ing Cash and Cash EQUI￿leTht$ 4,536.757 4,645.896 aoslng Cash and Cash EqUI￿lents 4.733.025 4,536,757 R•con¢lllaVon: Cash at bank and in ttand 4.733.025 4.536.757 4,733.025 4,536,757 Therè are no Sh￿t-t￿rn detxi8its within eash and cash &jui￿leNt& Changes in net debt arè an*$ed in Note 20. The note5 on page5 24 to 2P fom7 part ofthese fin8nrAal statements. 23 APASEN l A Company Llmlted by Guarant••) Notes to the fin8ncial statements rorthe year ended 31 March 2024 General informatton Apasen 1$ s roJist8rod charily. and a comp8ny limited by Guarant88, wistered in EThJlaTrJ & Wslas. kn th& e￿nt gf Ihg charity being W¥￿nd up. liability in ￿$￿t of the guardntee is limited to £1 per member of the oh￿'ty. The address of th& registe￿d office is gI￿n in cDmpanios charity infcffiiation po9e ofthese financial statèments. A¢counting con¥¢ntion Th9 ffinanclal st8loments Oft￿ charity, *hich is a wtAic tenefit Entity under FRS102. ha￿ iwi p￿￿red under the htstorical cost conwttion. Thoy tean weparecj in accen1ance wth applic8bl8 United KirKJbrn accounting standards. the requirements of Ihe statemert of R￿0Mmende(S Praclice'AccountitvJ Rep)rting by cforities, ISORP 20191. in accotElanGe with the Fingnci81 Reporfing Star¥Jard appl￿ble In the LIK IFRS 1021 gppl￿ble lo Smaller entities the Charities Act 2011. Ihe yesentational CUnBr￿Y of the financial Stat￿￿entS Is PouThl Slerting (Q. A¢¢ounting Policr•$ 3.1 Golng ¢onc&m The trust￿ ha* taken into account the entilyb ond proJ￿ti￿8 fijr the 12 montt% from signing t￿se financial statements, in confim?ing Ih8ir 8888ssmant ofApa$8n as 8 going CLmcem. 3.2 Revenue R•cognlllon All tncome g¢narat8d wthin the United ￿'ngdorn. and 1$ included in ihe Siat•nent of Fin8n¢i81 Acliilties ISOFAI when the entity is *ally enlitled to the inccme 8fterany park)mi*ce Conditirms ha* teen met, the amount can be meaSu￿d rellabty and it is probable that (he Irthmt will b8 re￿i%￿d. GRnt$ tjr irnmediatè èxwditure are aceounted for when th8y técomè r8¢el￿ble. Grants ￿elled for S￿lfie purw$es are treated 85 iestvcted fvnd$. come under serlieè leKel agre￿antS are xcounted fw once the ser¥ice is ddiwr8d. 3.3 Alloeatlon of costs Costs are albcated betrwe8n I￿tr￿ted and Un￿stricted fvnd 8ccording to the terms d incom Wh8re ￿erns expended are rnixed, Ihey are apportion8d LEtsween the categories accordinu to the income th￿ relate to. 3A Support costs Supp)rt Costs 8r8 those fijnctions that assist the of the charity but do rK)t directly undert8k8 charitable aCtNt￿8. Supwt eosts include back office costs. fina￿e, perstfinel, payroll 8nd go￿anCe costs vthich support tf* Tru8t$ wJrammes and actimties. Ihese ¢c6ts ha* allocated b¢tween ¢06t of Trising fijrth and QKpendilure on ¢haritaN8 actThities. 3.5 EXpendi￿r0 r•cognltlort All exwditure is accounted fi)r on an 8ccfLd$ basi$ and has b88n classified wd8r he8dirrfJs that 8ggrEgat& dl cc6ts ￿lated to 3.8 Pen￿On8 The p*nsion c08t9 charged in th8 fin8n¢i81 st￿ementS represeni the defined contribution payabl8 during yeaf. C*l t￿ basis ofa minimum staiulory [Erc￿l8￿ ol pensionable eaming. 3.7 Accounting 8stimafes 0Stttors ha￿ ex8rci5ad theSrjudgernenl ￿1th regards to the depreciat￿n polKy adopied (Sag Note 3.81 24 APASEN l A Company Limited by Guarantee) Notes itr th& financial statem￿lS for the year ended 31 March 2a24 3.8 Tanglble fixed aBs•ts and dèpr•clatlo F￿h￿d long l&asehold proFerties are capitallsed at ¢ost ard depreciated on the following basis.. Land )t deprecSated Buildlng 1QO years The charfty changed 11$ deF(e¢iation pdicy fortrethold, aTrJ long4ease propèrty from the year¢nded March 2022. optiry to depreciate underthe comp￿ent basis, wthere land is not deve¢￿tal, but st￿￿tural *ments of ts buildiros are. lo this. l¥eehokl burfding5 wwe t￿l depredatay, based on the premSse thal IW were rnantaned to a Ngh standard, Ihus extenthng ttrEir usefijl lits and ￿5*lUa1 In the abSe￿e of regul¥ impaimient ￿lie￿S t￿￿@%￿r, adopts'ng a depreciation pc4i¢y seemed MO￿ 8pyapriale. otherfiK8d as50ls ofthè eharfty are captsllsed * cost. are slated in the accojnts it cost less derreciatTh. Oeweciatton Is cJculated to off the COSt18$5 their estimated residual ￿lUe. o*rtheir expected usefijl li￿ Ihe fe4kn￿n9 tosis. F￿tUres, Filtings and Eouipnent.. Short leasehold irnprownents Motorvehicles 20% WiJoirvJ baLqnce. JTrtion of lease 20% on cost &9 Fundg • Unrestricted fijnds comw58 the accumulated surplus or deficit in income and expenditure accounts, and are a￿lIa￿* fDr use al the discretion of TDJStees, to fijrther the general ot4'ectikes of the enllly. • DeS￿nIted fijnds ¢omFdse unreylricted ￿ndS that ha* set aside by ttrt tNst8e5 fDr partIc￿ar purposes. • Restricted fvjnds are Sn accord￿&￿th specific restfictions Smto$ed by bJnd&Tr, cf wtrnakers. The cost ofrnising adminisleriw such fvnds ¥È chw agalnst the $￿ifiC ftjnd. Currènt restrtcled ￿ndS ol the entity arÈ sel eut Sn 12. J.10 Tax= Apasen is an exempl charity wrthin the meanlng of sch￿￿18 3 ofthe Charitiès Act 2011 1$ ¢onsidared to pass the tests $et out in Paragraph 1 schedu￿ 6 Finance Act 2010. Ihw8tse m&ling the definltion of a charitable cornpany lor UK crTr?rat1C￿ tax purp)ses. 3.11 Debto Tréde and ether debtors are recogni3ed ai the settlement amount due. a5 pET¢￿traCtUal agreements. P￿PaymentS are ￿l￿ed * tIE arrKKJnt prepaid in ajwice 01t￿ ser44ce fle1￿ery pèriod. 3.12 Cath at bank and In hand Cash at bank and ¢8sh in hand i￿ludeS Ga5h and $hTrl term hEqhly lsquid inkestment$ I￿1h a 81tr3rt maturity erthree months or lèss from the date of a¢qui8iticm or opening of thè deposit or simllar actourt 3.13 cr?￿lI0￿attd provlglons Creditots and iyoidslons are ￿cOgnISed whare the charity ha$ a present otrAigalion re8utting from a past 8¥tnt tW will probauy result In the transèr offv￿3 to a third paty and the amount due to sèttlè thè obllgatlon caTr fE measvrèy or estimaled rdlatty. Creditor5 and prThisions aro nonnally rwnlsed * their settl•nant amount afterafkxryng for ary Irayè dk*¢ounls due. 14 Flnanclal Instwm•nts The charity onty has finarrial assets and financial liabilib'èg of a kSnd that (wjalify as basic financiaj instnJment$. Ba8ic financial irtstruments a￿ in1tial￿ recowis&J at tr8n5xtiDn wlue and 8ub8equenlly M￿ured at their settknent ￿U8. 25 APASEN l A Cc*npany Lirnlted by Guarantsel Note$ to thè firtsncial staièmnts r thg ye¥ endwj 31 MarGh 2024 Stsff EM01￿*n￿. 2024 2023 Tot￿ ¥wes sdai88 Em￿0yerS NIC Pensi￿ ¢ornrtbJlon 11,876,92D 919, 208.805 12,805,294 10.782.008 885.161 186.$42 11,833,711 t>rect Ch8ritat4e others 12,418,142 387,152 12,805.294 11.438.438 395.273 11.833.711 No rf*mrloyee¥". Admi No demkYLye8s.' Direct 13 675 612 E￿￿(￿e89 paws In excess ofe80.￿0 dLrirvJ th8 ¢uffent yw P￿Ic￿5 year Other key m￿￿rDentr K*sc￿rte1 rpceiwJ wmbl￿1 TemLnW8tion of£220,031 120>". £236.8181. Tr8 tNsleesldiR¢t¢rs not h￿e ary ￿[enseS reimbJrs&J during th8 year12023.. £ND. Tanglble Flxed A*ty'. Freefdd Leas8hc4d leaSe￿d Vehi¢les Prcf• PrDwty pro*rmnts Fumiture & Ewipment Tota Al 1st April 2023 Additions 48,590 4,044,859 10,495 1525,910 155,831 1,005,828 53,701 515,164 6.140,f49 280,117 48,590 4.055,354 2,681,741 1.099.417 515,184 8,400,2e8 D8rriation". Al 1st April 20rJ tiSkY)sal elmlnaticn Chsrge for the y88r 40.788 46.118 48,5 260,432 361.293 75T,221 7.802 48,590 29,931 76,049 99,983 148,573 51,513 412, 189.229 948,450 260,432 Net Bo)k Valua As at 31 March 2Q24 3.979,3Ck5 2533,168 838.985 101358 7.453,816 As at 31 M8rch 2023 7.802 3,998,741 1477,320 745,194 153.871 7.382,928 btors pr•paym?nts.' 2024 2023 Opwturyty and Conynunty Sfftic85 Croydm Prdéct Apa5*rth L( OrJatility Nettwrk Other Debtors & Prewments Trade crèjtiors ￿el￿ble A¢cftbJ incoma 859,243 D,85B 1&191 315,1 255,555 236,896 154,678 99.227 13.405 753.5(Y) 3,W20.( 60,059 994,072 1,706,697 26 APASEN l A Company Limltod by Guarant••l Notes te the ffinarKial stalemwrts ror the year ended 31 March 2024 Dlrect Charftsble Expendlttlfe: Unrngtrleièd Funds Rè*rtcted Fund$ 2024 Total Totsl Oprxytunrty Zone Fkjme and GThnmunity Senlces Athice ard ￿￿o[rnatIOn s￿l¢e9 CroydaTr Prci￿* Apasen Lodge Traning Project Disatxlity N8lwcxk Grant making 1.749.OD4 10.819.OD2 1.749.004 10,810.og2 81,437 439.149 568,770 1.422,498 10.041.815 76.786 453,668 466.974 51.818 fLI.056 81,437 439,149 568.770 27.984 50,000 13.735.436 te 17119 50.000 13,626.015 109,421 12,832,342 Mand￿m•ntA￿d Admlnl*atlon'. Unrostrl¢ted Rearicted Funds Fund8 2024 Tolal Tothl il Support Costs Offte Administratbn Cost in¢lu&ing S￿an85 Payroll SeThi¢e Legal & Professional Fees Con$uttancy A(l*rts aThY Publicity Mefftterslip & Subscdplon$ IT Supwt and corourngb Bank Charges Charitaile donations Cleaning ￿15 rBpair5 Tr*elling. ekent costs and r8fre5hmenls De￿latIOn Amrtisation LDaTr ItrterÈ51 470.130 17,250 9,457 17,158 1,450 1S,644 48.212 1.619 5.502 42,698 1.962 33,870 273.257 936.309 470,130 17,250 9,467 17.158 1,450 15,844 46,212 1.619 5,502 42.698 1.962 33.970 3T3,257 936,309 422,274 16,125 12.731 17,538 5.628 39.381 15.499 6.175 21,318 13,116 152.469 760.781 bl Governance Costs Off￿e Adrnini5trat￿n Cnst ncludlng 5atarie5 Legal & PrDfe5sional Fees Audit fres Accountarty Ser￿e5 suranc? Cor6ultan¢y Memt*Tsh'p & Suiiscrtpllon$ Managwn8nt 8xpwses 183.OW2 53,587 5.0 4.8 25.236 3,028 2,749 3,614 183,D92 53,587 5.000 4,800 25,236 3,028 2.749 3.614 113.K11 7,912 Note 14 46.639 3,095 14,382 281.1 281.105 11%.992 1,217.415 1.217.415 957.773 27 APASEN A Company Llmlted by Guarnnttèl Notes to ttr￿ fin8rrid 8tal8ments the year 8nd*J 31 M8rch 2024 Editors.. falllng wtlhln 01￿ year 2024 Accruals Unity B￿k Low T￿le Cre¢*tors Pen$ion prthidet Other Crèfjiiors e38,829 396.766 532, 327,052 204,617 3,019 14.814 1.051.337 1.067,044 10 Creditoit fallinB after more than one year 2024 Unfty Bank Loar 3.180.189 3.180.189 3,338.071 3.338,071 11 Ro*ictsd furwJsmovem8nt Op8rirrfJ BalorKe Reslricta Ir￿orne R&stiictèJ Expenses ClosirvJ B￿an Aqustrn￿t Hom8 Care Ccfisortlum Ad%*e #￿t IntLmMtK¥) Sefyices D5$a￿l￿￿ Ner¥4rrt 122,183 25,675 122.183 33,310 24,600 81,437 27,984 22,252 3,384 148,088 57.910 109,421 122,183 12 Mo¥amant In fvnd Lknfestrlcttd Jnd Cws•l4nat•d Fiirid LknreBtrtct•d Fuiid ITotall nd To As at 1 April 20rJ 5,355,424 3.719,799 9,075, 148.038 9.2¥J.261 Currntrt year 1.803.e27 1.a03,WI7 151.5111 1.75/116 Cutmt yeartran$fer 11826 157,060 AS at 31 M￿h 2024 6.976.355 3.876,859 10.853,215 172,163 10.975.371 As 8t 31 M*ch 2D24 dÈSiOnated fijnds rI£3.9m y￿re requir&J P023.' £3.7ml to match the ntst cost of fixd ass￿, E￿I￿ling ID8ng Still rÈpayaNÈI￿ as#d purcl*se*. This left ofwer¥e fvnds fcf fvrture(wth"on Oft￿ ¢h•rity, to 6 mmths. op¥ath%￿l costs. Ihk8 18 in linewith chority's rese￿ pjlicy target of M mo*hs. 13 L048p commllmer At 31 MaKh 2024 the comkw had ¢¢)milrrEnls on Crynm￿lal lea¥85 on pycferty. The fithure ￿nImuM nOr￿ce1￿bIe DFef8brvJ leases a$ b11th￿". 2024 23 under£￿ year Bets￿n 2-5 ye MCK8 than 5 y*rs 211.317 332,oao 222,000 239,678 366,432 2￿.00￿ The ents'ty had m G8wlal cammitments as at 3110Y24120ll'. £nill 28 APASEN l A Company Lirnit8d by Guarantstl Not￿ to the fina￿la1 statements r the year end8d 31 March 2024 14 AuditorfsRomuneraUon'. 2024 2023 Auditof5 Rernuwatlon for the wjdrt tsfth& ¢harity'$ annual xcounts 5.lY)O 5,00 Fees Payable to the charity¥ 8uditEf for non-audit senices 15 Taxation.. The entily Is a re9Sstered charity, theth beirvJ enti￿&￿ to tax exemrAlw$ from HMRC 16 Contlngent Li•bilitio% The entity had no contingent liabil((vas a5 at 31 Mar¢h 2024. 17 R•l8ted Party Transacttons.. Cxjring yaar, the entity pro%kled £50,000 of fvnding to Apasen Iniematio￿q1, a charfty that dr the exrertlse ofApas87. to wo¥ide similar sertes In 0￿gL9de5h. This has t•) ¢Lqs5ffisJ in Note 7. The relab'onship ofApasen to Apasen Intemaiional Is fhal ota grantrymaLiNJ c￿6, vllh fvnds usèj exC￿51￿Y from ApasenS unre$tricied $urpluse5. CethK Bdl (Apasen Sécrèiary until Awust 20241, r8ceThÉd £8,25D In the f￿￿ckql year. fr)r profes$Kfi81. con5￿tancY sthlces prowded to Ap358n. 18 Glfts In Klnd and Volurrt•er* Dudng the year the companylcharity ttnefited frorn unFeid performed by ￿unteers. 19 Grant maklng All grnnt makiryj ￿t￿lty in the y8ar ￿lat& to Apasan Int￿l¢nal (See Note ln. The accounts ofApasen Intemational do mt meet the thTeshJkJ tr audit, but are i￿etendentlY ex8rnined. 20 NDle iv th• *t¢ment of ca8h)lows An4ly•8 ol¢hange$ In net debt OIIOW2023 Cath )lows Non