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← Only Connect UK

2024-08-30-accounts

Only Connect UK Report and Financial Statements For the year ended 31 August 2024 Company number: 05848399 Registered charity number: 1116147

Contents

Reference and Administrative Details ........................................................................................... 3
Board of Trustees’ report ............................................................................................................. 4
1.1
Objectives and Activities & Achievements and Performance ........................................... 4
Financial Overview ....................................................................................................................... 5
1.2
Structure, governance and management ......................................................................... 6
Independent examiner’s report to the members of Only Connect UK ............................................ 9
Financial Statements .................................................................................................................. 10

Only Connect UK annual report and financial statements to 31 August 2024

Page 3

Reference and Administrative Details

Name: Only Connect UK, also using Only Connect

Board of Trustees

Danny Kruger MP, Chair Emma Kruger Dionne Trotman Charlotte Dryer Omolarah Jonah Charles Trotman

Company Secretary

Simon Pellew

Independent Examiner

Zachary Ramsden FCA

Registered Office

32 Cubitt Street London WC1X 0LR

T: 020 7278 8939

E: info@onlyconnectuk.org Registered charity no. 1116147 Company limited by guarantee, company no. 05848399

Only Connect UK annual report and financial statements to 31 August 2024

Trustees’ report

Page 4

Board of Trustees’ report

1.1 Objectives and Activities & Achievements and Performance

Objectives

Our vision is a more connected society where we all choose a crime-free life. Our mission is to enable people with experience of the criminal justice system to live flourishing lives.

Only Connect works with Londoners aged 18 and over who are either serving custodial sentences, have completed their custodial sentence or are on license in the community, and are looking to find work or build up their skills.

Review of activities

Over the last year we have been working on developing our model – Love & Money, a holistic approach to preparing prisoners for release. It has three components: a course on relationships (Love & Money), weekly keyworking, usually for about 12 weeks, and a course on employability (and keeping the job), called On Point. We then continue working with the prisoners after they have been released. In addition, we take referrals from probation, mainly of people who are on license.

For 2023-24 we had 609 referrals, a substantial increase from the 474 in 2022-23. Of these referrals, we enrolled 465, with 305 (66%) being in prison.

We worked with 525 (compared to 436 in the previous year), of which 416 (79%) engaged (defined as doing 1 or more sessions with their keyworker).

Of the people who engaged and were closed while in the community (i.e. excluding people who were closed while still in prison, usually because they were moved to another prison), 17% achieved a job outcome, and 9% started training courses. This latter figure is disappointingly low, and may be the result of the closure of training providers offering CSCS cards (the building site mandatory health & safety qualification).

We have increased the number of courses being run in HMP Feltham, and we are aiming for 2024-25 to run both courses every six to eight weeks. We continue to run the courses quarterly in HMP Wormwood Scrubs, mainly because there are relatively few convicted prisoners being released. We were also working in HMP Isis, but due to staff changes (see below), we have had to stop. However, the prison regime in HMP Isis made running courses very difficult, and we will be looking to start in a new prison in 2025.

The use of the building for co-working space has done well, with an average void rate of 19% (21% in the previous year). The building covers all its costs and contributes £27,866 towards the charity’s administration costs.

Sadly, fundraising has become very difficult over the last two years. Our fundraising success rate to grant making trusts has fallen from 35% in 2022 to about 5% this year. We are unsure of the cause, but we think it is partly caused by a shift in priorities of many trusts towards more campaigning organisations and those with a particular focus on ethnicity. The reduction in our income from trusts has meant that we have had close the music course and reduce our keyworking.

Risks

The most substantial risk the charity faces is failure to generate enough income.

Only Connect UK annual report and financial statements to 31 August 2024

Trustees’ report

Page 5

The building continues to generate risk, mainly because of the risk of unexpected maintenance costs.

A third risk is building users clashing. There are two criminal justice charities using the building. Each brings in clients, and Only Connect assesses the risk of clashes between participants belonging to antagonistic gangs. This risk assessment can never be definite, and we remain aware of the problems this area could cause.

Financial Overview

Income and Expenditure

Only Connect had three main sources of income: rental income, statutory grants and donations from trusts. The rental income was £233,810, an increase of £18,207 from the previous year (£215,603). The rental income covers the direct building costs £205,948 (£199,085).

During the year, OC’s statutory contracts all finished. We had hoped that we would obtain some funding from the prisons, but there have been no contracts available.

Fundraising from trusts generated £198,856 (£158,350) and from individuals £14,295 (£6,405). We would like to thank the following trusts for their generous support:

The Alchemy Foundation

Belpech Charitable Trust

The Boltini Trust

Chesterhill Charitable Trust Limited

S E Franklin's Charitable Trust No 3

Garfield Weston Foundation The Grace Trust

The Hardy Family Foundation Hedley Foundation Limited Imagine

Inner London Magistrates' Court Poor Box

The Jean And Gordon Roberts Charitable Trust

The Marsh Charitable Trust The Oakdale Trust

The Peter Stebbings Memorial Charity

The Sir James Roll Charitable Trust

St Andrew Holborn And Stafford's Charity

The Swire Charitable Trust

The William Allen Young Charitable Trust

The expenditure on Operations (the work with prisoners and ex-prisoners, including the music project) was £237,474 (£255,000) on payroll, and £12,521 (£16,600) on other costs. Expenditure on fundraising was £44,511 (£47,500) and administration was £54,265 (£46,500).

Overall, Only Connect made a loss of £92,379, compared to the previous year’s surplus of £6,434.

Only Connect UK annual report and financial statements to 31 August 2024

Trustees’ report

Page 6

Reserves

In the trustees’ view reserves should provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. We consider we should have at least 3 months reserves to cover operating costs, or, in the event of closure, sufficient funds to meet all the charity’s obligations, including redundancy (£21,587). Only Connect has cut costs and increased its income from the co-working space. It now has a fundraising target of £11,000 per month, which the trustees consider realistic, although this needs close monitoring.

Our unrestricted reserves were £57,249 (£130,523) (equivalent to 1.5 months) and we have paid back £5,556 of our Bounceback loan, leaving a debt of £35,185. Given the uncertainties we face, as outlined in the Risks section, the trustees consider this level of reserves to be low and they are aiming to build up the reserves to about £105,000, equivalent to 3 months’ expenditure.

Going concern

The trustees have considered the risks facing Only Connect for the coming year. They recognise that Only Connect’s reserves are too low, but they have developed a strategy, focused on a big donor programme using contacts of the trustees, to address this issue. The trustees have also made four staff redundant to reduce running costs. In the light of this, they consider that Only Connect is a going concern.

1.2 Structure, governance and management

Formation and structure of the Charity

Only Connect UK was incorporated as a Company Limited by Guarantee on 16 June 2006 and registered as a Charity on 19 September 2006.

Its objectives, as stated in its memorandum of association, are: ‘To advance the education and prospects of prisoners, ex-offenders and young people at risk of crime in London, and their families, through the provision of arts projects and productions, personal development and community activities.

We have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity (PB2) In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set, taking account of the available guidance on public benefit. The trustees are satisfied that Only Connect’s work should lead to a reduction in offending, and this benefits the public.

Governance

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.

The Trustee board meets at least four times a year and monitors progress against goals and targets that flow from the strategic plan set by the Trustee board.

Day to day management is delegated to the chief executive officer. This is in line with our stated delegations of authority; the Trustee board is involved in all material decisions including but not limited to:

Only Connect UK annual report and financial statements to 31 August 2024

Trustees’ report

Page 7

Trustees responsibilities

The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice.

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 charity and of the surplus or deficit of the charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the Charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Charity’s website is the responsibility of the Trustees. The Trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

The charitable company qualifies as small under section 383 of The Companies Act 2006 and so no strategic report has been prepared, which is a requirement of medium and large companies under the Companies Act 2006 (Strategic Report and Director’s Report) Regulation 2013.

Policies adopted for the induction and training of trustees

All new trustees are taken through a trustee induction process carried out by the Chair of the board and as part of this they are introduced to their responsibilities and the key company policies.

Only Connect UK annual report and financial statements to 31 August 2024

Trustees’ report

Page 8

Pay policy for senior staff

Senior management (directors and above) are remunerated in line with sector benchmarks (reviewed annually) and all senior staff appointments, pay and award changes are approved by the board of trustees.

Risk management

The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to control and mitigate the charitable company’s exposure to the major risks. The major risks facing the charity have been outlined above.

Signed on behalf of the Board of Trustees

Danny Kruger

Only Connect UK 07/12/2024

Only Connect UK annual report and financial statements to 31 August 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ONLY CONNECT UK ("THE COMPANY")

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.

Responsibilities and basis of report

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

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

Independent examiner’s statement

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

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

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

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

Signed: Zachary Ramsden Name: Zachary Ramsden FCA Chartered Accountant 63 Deakin Leas, Tonbridge, Kent TN9 2JT Date 15.12.24

9

ONLY CONNECT UK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024

Current financial year

Note
INCOME FROM:
Donations and legacies
4
Charitable activities
5
Other income
Total income and endowments:
EXPENDITURE ON:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2024
£
155,901
248,923
1,528
406,352
251,093
228,533
479,626
(73,274)
-
(73,274)
130,523
57,249		 Restricted
funds
2024
£
57,500
-
-
57,500
-
76,605
76,605
(19,105)
-
(19,105)
19,105
-		 Total
funds
2024
£
213,401
248,923
1,528
463,852
251,093
305,138
556,231
(92,379)
-
(92,379)
149,628
57,249		 Total
funds
2023
£
281,731
288,102
843
570,676
239,431
324,811
564,242
6,434
-
6,434
143,194
149,628

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements foran income and expenditure account required by the Companies Act 2006.

The notes on page 13-18 form part of these accounts.

10

ONLY CONNECT UK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023

Prior financial year

Note
INCOME FROM:
Donations and legacies
4
Charitable activities
5
Other income
Total income and endowments:
EXPENDITURE ON:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2023
£
132,255
288,102
843
421,200
239,431
167,844
407,275
13,925
-
13,925
116,598
130,523		 Restricted
funds
2023
£
149,476
-
-
149,476
156,967
156,967
(7,491)
-
(7,491)
26,596
19,105		 Total
funds
2023
£
281,731
288,102
843
570,676
239,431
324,811
564,242
6,434
-
6,434
143,194
149,628		 Total
funds
2022
£
219,223
288,630
1,009
508,862
207,463
243,497
450,960
57,902
-
57,902
85,292
143,194

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements foran income and expenditure account required by the Companies Act 2006.

The notes on page 13-18 form part of these accounts.

11

ONLY CONNECT UK BALANCE SHEET AS AT 31 AUGUST 2024 Total funds 2024 Total fund5 2023 Note FIXED ASSETS Tangible fixed 8ssels 12 750 1,000 CURRENT ASSETS Debtors Cash at bank and in hand 13 19,500 89,900 109,400 48,281 156,221 204,502 CREDITORS Amounts falling due in less than one year 15 123,1161 12D,5331 NET CURRENT ASSETS 86,284 183.969 CREDITORS Amounts falling due 8fter more than one year 16 129,7851 135,3411 NET ASSETS 57,249 149,628 FUND BALANCES Unreslricled funds Re51riGted funds TOTAL FUNDS 57,249 130,523 19.105 149,628 18 57,249 The charitsble company is entitled to exemption from audit under section 477 01 the Companies Act 2006 for the year ended 31!1 August 2024. The members have not required the company lo obtain and audit of the financid stalewenls for the year ended 31 sl August 2024 in accordance with section 476 of Ihe Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011. the accounts have been examined by an independent examiner. and their report has been included in these financial statements. The directors IM,ho are the charitable company's Iruslees for the purposes of charity lawl acknowledge their responsibilities for.. {al ensuring that the charitable company keops accounting Tecords which comply with Sections 386 and 387 of the Companies Act 2006, and Ibl preparing financial statemenis which give a true and fair view of the slate of affair5 of the charitable company as at the end of each financial year and of ils nel income and expenditure for each financial year in accordance with the requirements of Section 394 and 395 and which olhetwise Comply with the requirements of the Companies Act relating lo financial statements, so far as applicable to the charilable company. The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial st81omenls were approved by the Board of Directors and were signcd on ils behalf by.. Date.. 1211212024 The notes on page 13-18 form part of these accounts. 12

ONLY CONNECT UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office is 32 Cubitt Street, London, WC1X 0LR.

2 Accounting Policies

a) Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have been prepared under the historic cost convention. The principal accounting policies adopted are set out below.

b) Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

c) Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to financial statements.

d) Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

e) 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 are allocated on the portion of the asset's use.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Fundraising costs are those incurred in seeking voluntary contributions and include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and overhead costs that cannot be easily allocated to particular cost centres. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

13

ONLY CONNECT UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

f) Tangible fixed assets

Assets costing more than £1,000 are capitalised. Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

25% reducing balance

The gain or loss arising on the disposalof an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

g) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

h) Employee benefits

The cost of any unused hoilday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

i) Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assts and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4. Donations and legacies
Donations and gifts
Grants and Trusts income		 Unrestricted
funds
2024
£
14,545
141,356
155,901		 Restricted
funds
2024
£
57,500
57,500		 Total
Unrestricted
funds
funds
2024
2023
£
£
14,545
6,905
198,856
125,350
213,401
132,255		 Restricted
funds
2023
£
t
149,476
149,476		 Total
funds
2023
£
6,905
274,826
281,731

5. Charitable activities
Charitable activities
Services provided under contract
Rental income		 2024
£
15,113
233,810
248,923		 2023
£
72,499
215,603
288,102

14

ONLY CONNECT UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

**6. ** Raising funds
Fundraising and other trading
Staff costs
Property costs
Share of support costs (note 8)
Total		 Unrestricted
funds
2024
£
96,351
137,518
17,224
251,093		 Restricted
funds
2024
£
-		 Total
Unrestricted
funds
funds
2024
2023
£
£
96,351
87,446
137,518
135,411
17,224
16,574
251,093
239,431		 Restricted
funds
2023
£
-		 Total
funds
2023
£
87,446
135,411
16,574
239,431

7. Charitable activities

Charitable activities
Staff costs
Other direct costs
Share of support costs (note 8)		 Unrestricted
funds
2024
£
147,285
12,354
68,894
228,533		 Restricted
funds
2024
£
76,605
76,605		 Total
Unrestricted
funds
funds
2024
2023
£
£
223,890
85,724
12,354
15,822
68,894
66,298
305,138
167,844		 Restricted
funds
2023
£
156,967
156,967		 Total
funds
2023
£
242,691
15,822
66,298
324,811
8. Support costs
Marketing and IT
Office costs
Staff costs
Insurance
Legal and professional
Bank charges and interest
Depreciation
Other costs
Allocation
Raising funds (20%)
Charitable activities (80%)		 Unrestricted
funds
2024
£
8,809
7,406
57,671
2,184
5,735
1,508
250
2,555
86,118
17,224
68,894
86,118		 Restricted
funds
2024
£
-
-		 Total
Unrestricted
funds
funds
2024
2023
£
£
8,809
8,949
7,406
6,397
57,671
54,150
2,184
2,064
5,735
9,268
1,508
1,395
250
367
2,555
282
86,118
82,872
17,224
16,574
68,894
66,298
86,118
82,872		 Restricted
funds
2023
£
-
-		 Total
funds
2023
£
8,949
6,397
54,150
2,064
9,268
1,395
367
282
82,872
16,574
66,298
82,872

Governance costs includes independent examination fees of £1,350 (2023 £2,220).

15

ONLY CONNECT UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

9. Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023: None)

10. Employees

The average monthly number of employees during the year was 11 (2023 -11).

11. Employees

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
2023
£
£
339,695
347,445
28,479
28,088
9,738
8,755
377,912
384,288

The remuneration of Key Management Personnel was £53,572 (2023 - £52,011). There were no employees whose annual remuneration was more than £60,000.

12. Tangible fixed assets
Cost
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Depreciation in the year
At 31 August 2024
Carrying amount
At 31 August 2024
At 31 August 2023
13. Debtors
Amounts falling due within one year
Trade debtors
Other debtors
Prepayments and accrued income
14. Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 Fixtures and fittings
15,285
-
15,285
14,285
250
14,535
750
1,000
2024
2023
£
£
2,830
3,712
116
196
16,554
44,373
19,500
48,281
2024
2023
£
£
35,185
40,741
5,400
5,400
29,785
35,341

16

ONLY CONNECT UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

15. Creditors: amounts falling due within one year
Creditors: amounts falling due within one year
Bank loans
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2024
2023
£
£
5,400
5,400
7,180
7,774
2,361
629
3,946
1,636
4,229
5,094
23,116
20,533
**16. ** Creditors: amounts falling due after more than one year 2024 2023
£ £
Bank loans 29,785 35,341

17. Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge in respect of defined contribution schemes was £9,738 (2023 £8,755).

18. Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.

Operations
Music
Relationships
Young people
Geographical		 Movement in funds
Movement in funds
Balance
Income
Expenses
Balance
Income
Expenses
Balance
at 1.9.22
at 1.9.23
at 31.8.24
10,000
96,476
(106,476)
-
-
-
-
2,777
3,000
(5,777)
-
5,000
(5,000)
-
3,819
10,000
(13,819)
-
10,000
(10,000)
-
10,000
20,000
(16,500)
13,500
19,000
(32,500)
-
-
20,000
(14,395)
5,605
23,500
(29,105)
-
26,596
149,476
(156,967)
19,105
57,500
(76,605)
-

Operations - our work with prisoners and released prisoners. Music – our music provision is a 6 week course, a 2 day course and one-to-one support. Relationships – we have run our course Love & Money in HMPs Feltham and Wormwood Scrubs. Young people – about half our Members are under 26. We allocate restricted funding on a pro rata basis. Geographical restriction - some funding is restricted to particular areas, such as West London or parts of Camden and Islington. This is allocated on a pro rata basis.

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ONLY CONNECT UK NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

19. Analysis of net assets between funds

Fund balances at
31st August 2024 are
represented by:
Tangible assets
Current assets/liabilities
Long term liabilities		 Unrestricted
funds
2024
£
750
86,284
(29,785)
57,249		 Restricted
funds
2024
£
-
-		 Total
Unrestricted
funds
funds
2024
2023
£
£
750
1,000
86,284
164,864
(29,785)
(35,341)
57,249
130,523		 Restricted
funds
2023
£
19,105
19,105		 Total
funds
2023
£
1,000
183,969
(35,341)
149,628

20. Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between 1 and 5 years		 2024
£
72,000		 2023
£
120,000

21. Related party transactions

There were no related party transactions in the year (2023 - none).

18