REGISTERED COMPANY NUMBER: 05759929 (England and Wales) REGISTERED CHARITY NUMBER: 1116697
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Sycamore Trust U.K.
Sycamore Trust U.K.
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Cash Flow Statement | 9 |
| Notes to the Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 to 18 |
Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 trustees consider the financial statements give a true and fair view.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to provide relief for people with Autistic Spectrum Disorders, Learning Difficulties and associated disorders, their carers and families through the provision of advice, support, information and educational activities, aiding them towards equal opportunities and social integration.
Part of the activities of the charity continues to be to secure continuing finance to provide a consistent, supportive and stable environment for the people within its care.
Significant activities
In planning our activities for the year, we kept in mind the Charities Commission guidance on public benefit. The focus of our activities continues to be the support of individual and families affected by Autism/Learning Difficulties.
The pandemic and lockdown continue to have an influence on the way we have provided our support and activities this year. However, we continue to find different ways to support our members. We have given many staff the option of home working for part of their working days and this has been taken up in many cases, allowing more flexible working patterns, which also enhances the delivery of our services.
Both staff team and trustees have been involved in the construction of a new three year business plan which will be finalised in the coming months. This will reflect both the impending economic situation as well as our learnings from the past few years.
Probably, our most significant achievement this year has been receiving Gold standard with Investors in People. This was an improvement on previous assessment where we achieved Silver standard and reflects the investment the organisation has made in retaining and rewarding staff.
We continue to be grateful to both Barking and Dagenham and Havering Local Authorities for their support this year which has allowed us to maintain operations through a difficult period.
STRATEGIC REPORT
Achievement and performance
Charitable activities - public benefit
The charity meets its public benefit obligations:-
By providing information and advice to people with ASD and their families.
By providing a range of structured leisure activities for children and young people with ASD.
By providing training via workshops and conferences for families and professionals with an interest in ASD.
By providing training and support. to parents/carers of pre-school children with communication difficulties
By providing individual support for young people with ASD.
By providing these services across the London Boroughs of Barking and Dagenham, Havering and Redbridge and surrounding areas where an equivalent service is not in place
By facilitating a forum for young people with ASD, allowing them to campaign for better access to mainstream activities (Autism Ambassadors)
By providing support and advocacy to Adults with Learning Difficulties
By providing support and education to Adults with Learning Difficulties empowering them to lead fulfilling lives where possible in the community
By providing support into education for young adults with complex needs
By providing support to young adults with Autism/Aspergers into employment
Page 1
Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2022
STRATEGIC REPORT Financial review
Treasurer's Report
Firstly, I would like to thank the Board for their support, specifically Chris Gillbanks, our CEO and Genevieve Finch our finance officer, as well as the rest of the Sycamore team for their resilience. I would also like to thank our independent examiner, Mr A.S. Robinson for his continued help and support in producing these accounts, in what was yet another challenging year.
This is my fourth year as treasurer and trustee, both on a purely voluntary basis. The directors of the board also hold their positions on a purely voluntary basis and have not received any remuneration or claimed expenses throughout the year.
For the financial year ending March 2022, Sycamore trust emerged from the last Covid-19 lockdown (March 2021) in good financial standing, which gave us a solid platform for a difficult year ahead. Securing grants for both unrestricted and restricted has been slower than the previous year's along with various government offerings, but have been secured non the less, albeit 16% less than 2021.
Principle funding is through grants being awarded, (in note 4) and to a lesser extent donations and contributions. Although in constrained times, philanthropic funds were up by 26% versus (28.5%) in the previous year. Incoming resources were down by 11% versus plus 11% in the previous year. on year.
Current reserves are £356,383, which represents approximately eight months' plus worth of expenditure and exceeds Board policy, which is six months. This acts as a buffer along with cash balances to continue operating activities in challenging times. The minimum reserves required to meet the Trust's ongoing and additional commitments would be £243,129 and free reserves are at £309,739, as at the balance sheet date.
This year the charity will end with a small surplus, around £7,039, which was expected at the end of the last financial year. Once again Sycamore Trust maintains a slightly above required minimum reserve showing strong financial health of the charity and strong governance of its management.
S.T. Autism Training Services Limited first full year of accounts have been made up, resulting in sales of £3,438, which were agreed by the trustee's to be transferred to Sycamore Trust, its parent company. I remain optimistic next year it will go beyond break even to result in a profit, despite rising inflationary pressures.
Investment policy and objectives
Due to the need to maintain the liquidity of the charity funds the bulk of the charity's bank balances are held in an instant access bank deposit account. In addition, the charity has invested £100,000 in fixed term deposits which mature in November 2022 (£50,000) and February 2023.
Reserves policy
The reserve policy and the level of free reserves (that is those funds not tied up in fixed assets or designated and restricted funds) deemed necessary to ensure prudent and viable management of the Charity is reviewed annually.
The trustees have considered the reserve policy and have concluded that the minimum reserve to be maintained should be at a level which ensures that the charity's core activities could continue for a period of six months during a period of unforeseen difficulty.
It was noted that at the end of year to March 2022 the free reserves of the organisation have exceeded that of our reserves policy. However, it is envisaged that due to the current economic situation income is likely to be reduced over the coming year and overheads will rise. Therefore, in order to maintain our current levels of service we will be required to use the surplus of reserves.
Going concern
The trustees consider the Charity to be a going concern and they are not aware of any material uncertainties which may cast significant doubt on this view. In addition they have a reasonable expectation that the Charity has adequate resources to continue for the foreseeable future.
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Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2022
STRATEGIC REPORT
Future plans
Sycamore Trust U.K. in common with many charities have, in the past, relied on Statutory Agencies for a large percentage of funding. We recognize that in the current economic climate, we need to look at the ways in which we work and adapt our services and the way we sell them to fit the current market.
The changing external environment and the reduced levels of government expenditure are likely to make the environment even more competitive. We are aware that we will need to take some difficult decisions in ensuring our overall costs, including staff costs, are competitive.
Our challenge over the coming years is to, wherever possible, sustain current provision, and develop new services in line with the needs of our clients and to find new and diverse ways to generate income in order to maintain our service. We also need to look at ways of reaching out to current and potential stakeholders, encouraging them to support the organization and invest in the services we are able to offer.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was founded in 1995 as Parents of Autistic Children Together. The charity was incorporated as a company limited by guarantee on 26 March 2006 and is governed by its Memorandum and Articles of Association. The governing document was amended in 2011 to allow the charity to incorporate Barking and Dagenham Mencap. The charity re-branded and became Sycamore Trust U.K. in March 2014.
Recruitment and appointment of new trustees
The directors who are also the charity's trustees are appointed annually by the members of the company at the Annual General Meeting. Additionally, new directors may be appointed by the existing directors, subject to a maximum of twelve.
Organisational structure
The charity is run by the Management committee which consists of four officers and an elected number of members as decided at the Annual General Meeting of the charity. In addition, the Committee may co-opt representatives of the voluntary and statutory sectors with special interest.
Induction and training of new trustees
Most directors are already familiar with the practical work of the charity but all new directors undergo an orientation course to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association of the charity. The committee's decision making process, the business plan and recent financial performance together with Health and Safety regulations are all covered at the induction and a mentor will be assigned to assist the new appointee. Directors are encouraged to attend appropriate external training events to support the role they are performing.
Risk management
The directors actively review the major risks which the charity faces on a regular basis and believe maintaining reserves at current levels, combined with regular review of key financial systems, will provide sufficient resources in the event of any adverse conditions arising. The directors have also examined other operational business risks faced by the charity and confirm they have established systems to mitigate significant risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05759929 (England and Wales)
Registered Charity number
1116697
Registered office
27-29 Woodward Road Dagenham Essex RM9 4SJ
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Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2022
Trustees Vanessa Bennett Judy Nair Joanne Margaret Baty Nyomi Thompson Lisa Healy Christine Koulla Burke Harsharan Kour Howell
Independent Examiner
A S Robinson FCA J P B Harris & Co. Chartered Accountants Harmile House 54 St Marys Lane Upminster Essex RM14 2QP
Bankers
National Westminster Bank plc 27 High Road Chadwell Heath Romford RM6 6QD
Chief Executive
Chris Gillbanks
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 September 2022 and signed on the board's behalf by:
- Trustee Joanne Margaret Baty
Page 4
Independent Examiner's Report to the Trustees of Sycamore Trust U.K.
Independent examiner's report to the trustees of Sycamore Trust U.K. ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
A S Robinson FCA
J P B Harris & Co. Chartered Accountants Harmile House 54 St Marys Lane Upminster Essex RM14 2QP
10 October 2022
Page 5
Sycamore Trust U.K.
Statement of Financial Activities for the Year Ended 31 March 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 52,839 Charitable activities Charitable activities 197,887 Investment income 3 859 Total 251,585 EXPENDITURE ON Charitable activities 5 Charitable activities 225,287 NET INCOME/(EXPENDITURE) 26,298 Transfers between funds 17 566 Net movement in funds 26,864 RECONCILIATION OF FUNDS Total funds brought forward 287,199 TOTAL FUNDS CARRIED FORWARD 314,063 |
Restricted funds £ - 241,710 - 241,710 260,969 (19,259) (566) (19,825) 62,145 42,320 |
31.3.22 Total funds £ 52,839 439,597 859 493,295 486,256 7,039 - 7,039 349,344 356,383 |
31.3.21 Total funds £ 32,945 521,093 1,779 555,817 473,682 82,135 - 82,135 267,209 349,344 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
Sycamore Trust U.K.
Balance Sheet 31 March 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 4,323 Investments 12 1 4,324 CURRENT ASSETS Debtors 13 28,147 Investments 14 100,000 Cash at bank and in hand 202,013 330,160 CREDITORS Amounts falling due within one year 15 (20,421) NET CURRENT ASSETS 309,739 TOTAL ASSETS LESS CURRENT LIABILITIES 314,063 NET ASSETS 314,063 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 5,823 - 5,823 55,826 - 67,607 123,433 (86,936) 36,497 42,320 42,320 |
31.3.22 Total funds £ 10,146 1 10,147 83,973 100,000 269,620 453,593 (107,357) 346,236 356,383 356,383 314,063 42,320 356,383 |
31.3.21 Total funds £ 13,000 - 13,000 33,586 100,000 282,138 415,724 (79,380) 336,344 349,344 349,344 287,199 62,145 349,344 |
|---|---|---|---|
The notes form part of these financial statements
continued...
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Sycamore Trust U.K.
Balance Sheet - continued 31 March 2022
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 September 2022 and were signed on its behalf by:
- Trustee Joanne Margaret Baty
The notes form part of these financial statements
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Sycamore Trust U.K.
| Cash Flow Statement for the Year Ended 31 March 2022 31.3.22 Notes £ Cash flows from operating activities Cash generated from operations 1 (11,070) Net cash (used in)/provided by operating activities (11,070) Cash flows from investing activities Purchase of tangible fixed assets (2,306) Purchase of fixed asset investments (1) Interest received 859 Released from term bank deposits - Net cash (used in)/provided by investing activities (1,448) Change in cash and cash equivalents in the reporting period (12,518) Cash and cash equivalents at the beginning of the reporting period 282,138 Cash and cash equivalents at the end of the reporting period 269,620 |
31.3.21 £ 91,354 91,354 (3,156) - 2,467 75,000 74,311 165,665 116,473 282,138 |
|---|---|
The notes form part of these financial statements
Page 9
Sycamore Trust U.K.
Notes to the Cash Flow Statement for the Year Ended 31 March 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors Increase in creditors Net cash (used in)/provided by operations |
31.3.22 £ 7,039 5,160 (859) (50,387) 27,977 **(11,070) ** |
31.3.21 £ 82,135 4,614 (2,467) (2,899) 9,971 91,354 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.21 | Cash flow | At 31.3.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 282,138 | **(12,518) ** | 269,620 |
| 282,138 | **(12,518) ** | 269,620 | |
| Liquid resources | |||
| Deposits included in cash | - | - | - |
| Current asset investments | 100,000 | - | 100,000 |
| 100,000 | - | 100,000 | |
| Total | 382,138 | **(12,518) ** | 369,620 |
The notes form part of these financial statements
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Sycamore Trust U.K.
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Irrecoverable VAT is charged as an expense against the activity for which the expenditure arose.
ALLOCATION AND APPORTIONMENT OF COSTS
Costs are directly attributed to the charitable activities on a basis consistent with the use of those resources. Support costs comprise those costs which do not directly reflect charitable activities and include independent examination fees and affiliation costs.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery
- 25% on cost
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 2. DONATIONS AND LEGACIES Donations Subscriptions Donated services & facilities - holiday Other income Leisure activities Contributions to client holidays 3. INVESTMENT INCOME Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Support work Charitable activities Grants Charitable activities Grants received, included in the above, are as follows: City Bridge Trust Jack Petchey London Borough of Barking & Dagenham London Borough of Havering London Borough of Redbridge Ford of Britain Trust National Lottery Grant BBC Children in Need Greater London Authority - Young Londoners Social enterprise Tudor Trust - Girls' Autism LBBD - early years Youth London Summer Innovation Countryside Youth Equipment Covid grants Mrs Smith & Mount - Family Support National Lottery Outreach North East London CCG - Consultation North East London CCG - Family Young Creators Arts Programme |
31.3.22 £ 24,404 2,600 11,600 6,293 4,208 3,734 52,839 31.3.22 £ 859 31.3.22 £ 13,344 426,253 439,597 31.3.22 £ 15,000 2,550 65,598 80,000 5,000 - 92,407 25,065 41,035 10,000 14,533 - - - 43,945 3,562 7,125 9,533 9,000 1,900 426,253 |
31.3.21 £ 17,936 1,795 8,690 419 105 4,000 32,945 31.3.21 £ 1,779 31.3.21 £ 13,477 507,616 521,093 31.3.21 £ 52,500 2,250 55,598 80,000 5,000 1,500 79,688 43,810 46,900 - 16,500 4,717 3,732 6,804 108,617 - - - - - 507,616 |
|---|---|---|
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
5. CHARITABLE ACTIVITIES COSTS
| Charitable activities 6. SUPPORT COSTS Charitable activities Support costs, included in the above, are as follows: GOVERNANCE COSTS Accountancy and legal fees Subscriptions 7. NET INCOME/(EXPENDITURE) |
Direct Costs £ 481,198 |
Support costs (see note 6) Totals £ £ 5,058 486,256 Governance costs £ 5,058 31.3.22 31.3.21 Charitable Total activities activities £ £ 2,820 2,820 2,238 1,074 5,058 3,894 |
|---|---|---|
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 5,160 | 4,614 |
| Other operating leases | 36,091 | 33,521 |
| Independent examination | 2,820 | 2,820 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
The Charity provides professional indemnity insurance cover, for trustees and officers.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.3.22 £ 329,643 19,453 11,169 360,265 |
31.3.21 £ 340,791 21,286 11,599 |
|---|---|---|
| 373,676 |
The total remuneration of key management personnel amounted to £46,840 (2021: £54,196).
The average monthly number of employees during the year was as follows:
Chief executive Direct charitable work |
31.3.22 1 32 33 |
31.3.21 1 33 34 |
|---|---|---|
No employees received emoluments in excess of £60,000.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 32,945 Charitable activities Charitable activities 264,192 Investment income 1,779 Total 298,916 EXPENDITURE ON Charitable activities Charitable activities 228,319 NET INCOME 70,597 Transfers between funds 12,903 Net movement in funds 83,500 RECONCILIATION OF FUNDS Total funds brought forward 203,699 TOTAL FUNDS CARRIED FORWARD 287,199 |
Restricted funds £ - 256,901 - 256,901 245,363 11,538 (12,903) (1,365) 63,510 62,145 |
Total funds £ 32,945 521,093 1,779 555,817 473,682 82,135 - 82,135 267,209 349,344 |
|---|---|---|
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
11. TANGIBLE FIXED ASSETS
| 11. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Plant and | ||
| machinery | ||
| £ | ||
| COST | ||
| At 1 April 2021 | 83,973 | |
| Additions | 2,306 | |
| At 31 March 2022 | 86,279 | |
| DEPRECIATION | ||
| At 1 April 2021 | 70,973 | |
| Charge for year | 5,160 | |
| At 31 March 2022 | 76,133 | |
| NET BOOK VALUE | ||
| At 31 March 2022 | 10,146 | |
| At 31 March 2021 | 13,000 | |
| 12. | FIXED ASSET INVESTMENTS | |
| Shares in | ||
| group | ||
| undertakings | ||
| £ | ||
| MARKET VALUE | ||
| Additions | 1 | |
| NET BOOK VALUE | ||
| At 31 March 2022 | 1 | |
| At 31 March 2021 | - |
There were no investment assets outside the UK.
The Charity owns 100% of the issued share capital of S.T. Autism Training Service Limited (Registered No.12243747 (England and Wales).
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 56,355 | 10,787 |
| Prepayments and accrued income | 27,618 | 22,799 |
| 83,973 | 33,586 |
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continued...
Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
14. CURRENT ASSET INVESTMENTS
| Cash held on deposit bonds | 31.3.22 £ 100,000 |
31.3.21 £ 100,000 |
|---|---|---|
Current investments are bank deposits which are for terms of one year or less.
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
31.3.22 £ 3,071 4,165 4,091 96,030 **107,357 ** |
31.3.21 £ 20,506 - 1,374 57,500 |
| 79,380 |
Deferred income comprises income received in advance of the time period to which it relates.
16. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
31.3.22 £ 34,046 71,788 **105,834 ** |
31.3.21 £ 14,166 - |
|---|---|---|
| 14,166 |
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
At 1.4.21 £ 287,199 62,145 349,344 |
Net movement in funds £ 26,298 (19,259) 7,039 |
Transfers between funds £ 566 (566) - |
At 31.3.22 £ 314,063 42,320 |
|---|---|---|---|---|
| 356,383 |
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continued...
Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 251,585 Restricted funds Restricted funds 241,710 TOTAL FUNDS 493,295 Comparatives for movement in funds Net movement At 1.4.20 in funds £ £ Unrestricted funds General fund 203,699 70,597 Restricted funds Restricted funds 63,510 11,538 TOTAL FUNDS 267,209 82,135 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 298,916 Restricted funds Restricted funds 256,901 TOTAL FUNDS 555,817 |
Resources Movement expended in funds £ £ (225,287) 26,298 (260,969) (19,259) (486,256) 7,039 Transfers between At funds 31.3.21 £ £ 12,903 287,199 (12,903) 62,145 - 349,344 Resources Movement expended in funds £ £ (228,319) 70,597 (245,363) 11,538 (473,682) 82,135 |
|---|---|
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
17. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
At 1.4.20 £ 203,699 63,510 267,209 |
Net movement in funds £ 96,895 (7,721) 89,174 |
Transfers between funds £ 13,469 (13,469) - |
At 31.3.22 £ 314,063 42,320 356,383 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 550,501 Restricted funds Restricted funds 498,611 TOTAL FUNDS 1,049,112 |
Resources Movement expended in funds £ £ (453,606) 96,895 (506,332) (7,721) (959,938) 89,174 |
|---|---|
TRANSFER BETWEEN FUNDS
The transfer between funds is in respect of fixed assets acquired from restricted capital grants which has satisfied the restricted terms of the gran and the assets are now available for unrestricted use.
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
19. STATUS
The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association which establishes the object and powers of the charitable company and is governed under its Articles of Association.
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