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 2024
for
Sycamore Trust U.K.
Sycamore Trust U.K.
Contents of the Financial Statements for the Year Ended 31 March 2024
| 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 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2024
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 2024. 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 individuals and families affected by Autism/Learning Difficulties.
Chris Gillbanks CEO retired in December 2023, our new CEO Cheryl Kearney came into post in October 2023, we continue to work with them to further develop our 3-year business plan.
We have developed new partnerships with NELFT and Havering Works securing new funding for next year. We have built strong relationships with a number of corporate partners.
We successfully secured our contract for the Havering Autism Hub for a further six months.
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
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Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2024
FINANCIAL REVIEW
Financial Review
Firstly, I would like to thank the Board for their support, specifically Chris Gillbanks our CEO who retired in Dec 2023 , Cheryl Kearney our new CEO and Genevieve Finch our Finance Officer, as well as the rest of the Sycamore team for their commitment, dedication and 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.
The directors of the board 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 2024, we have found securing unrestricted and restricted grants has continued to be challenging with total grants received down by £78.5k, a reduction of 21.2% compared to 2023. We have also not benefited from any government grants.
Principle funding is through grants being awarded, (detailed in note 4) and to a lesser extent donations and contributions. Although in times of financial hardship, donations were up by £3k. However, total incoming resources were down by £72.7k, a reduction of 17.3% from 2023.
This year the charity will end with a deficit of £100,944, which was unexpected at the end of the last financial year. As a result Sycamore Trusts' total reserves are slightly below the required minimum reserve set out by the board.
S.T. Autism Training Services Limited third full year of accounts have been made up, resulting in profit of £1.8k, which were agreed by the trustee's to be transferred to Sycamore Trust, its parent company. We have decided to invoice our training services directly from Sycamore Trust from Apr 24, and as a result S.T. Autism Training Services Limited will become a dormant company.
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 £102,162 in fixed term deposits which mature in November 2024 (£50,629) and February 2025 (£51,533).
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.
Current free reserves are £168,128, which represents approximately 5 months' worth of expenditure which is 1 month less than board policy. We are confident that free reserves will be sufficiently increased in 2025 to meet board policy.
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 with confirmed income for 2024-25.
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Sycamore Trust U.K.
Report of the Trustees for the Year Ended 31 March 2024
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 to ensure 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. We have recruited two new trustees, with one being appointed as the new treasurer.
Organisational structure
The charity is run by the Management committee which consists of six 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 2024
Trustees
Vanessa Bennett Judy Nair (resigned 1.11.23) Joanne Margaret Baty Nyomi Thompson Christine Koulla Burke (resigned 20.3.24) Harsharan Kour Howell Ramandeep Kaur Basson (appointed 20.3.24) Phillip Michael Allum (appointed 20.3.24)
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 Cheryl Kearney 02 October 2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Joanne Margaret Baty - Trustee
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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 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 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 member of the Institute of Chartered Accountants in England and 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:
-
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
-
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
�������������� Date: .............................................
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Sycamore Trust U.K.
Statement of Financial Activities for the Year Ended 31 March 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 43,282 Charitable activities 4 Charitable activities 90,205 Investment income 3 5,082 Total 138,569 EXPENDITURE ON Charitable activities 5 Charitable activities 201,982 NET INCOME/(EXPENDITURE) (63,413) RECONCILIATION OF FUNDS Total funds brought forward 237,295 TOTAL FUNDS CARRIED FORWARD 173,882 |
Restricted funds £ - 209,522 - 209,522 247,053 (37,531) 58,471 20,940 |
31.3.24 Total funds £ 43,282 299,727 5,082 348,091 449,035 (100,944) 295,766 194,822 |
31.3.23 Total funds £ 41,249 377,076 2,467 420,792 481,409 (60,617) 356,383 295,766 |
|---|---|---|---|
The notes form part of these financial statements
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Sycamore Trust U.K.
Balance Sheet 31 March 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 5,753 Investments 12 1 5,754 CURRENT ASSETS Debtors 13 19,993 Investments 14 102,162 Cash at bank and in hand 76,111 198,266 CREDITORS Amounts falling due within one year 15 (30,138) NET CURRENT ASSETS 168,128 TOTAL ASSETS LESS CURRENT LIABILITIES 173,882 NET ASSETS 173,882 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 15,348 - 61,328 76,676 (55,736) 20,940 20,940 20,940 |
31.3.24 Total funds £ 5,753 1 5,754 35,341 102,162 137,439 274,942 (85,874) 189,068 194,822 194,822 173,882 20,940 194,822 |
31.3.23 Total funds £ 5,072 1 5,073 36,946 100,629 234,527 372,102 (81,409) 290,693 295,766 295,766 237,295 58,471 295,766 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 notes form part of these financial statements
continued...
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Sycamore Trust U.K.
Balance Sheet - continued 31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 02 October 2024
........... ....................... ........... Joanne Margaret Baty - Trustee
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 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Invested in term bank deposits Net cash (used in)/provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.24 £ (96,021) (96,021) (4,616) 5,082 (1,533) (1,067) (97,088) 234,527 137,439 |
31.3.23 £ (36,515) (36,515) (416) 2,467 (629) 1,422 (35,093) 269,620 234,527 |
|---|---|---|
The notes form part of these financial statements
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Sycamore Trust U.K.
Notes to the Cash Flow Statement for the Year Ended 31 March 2024
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM ACTIVITIES |
OPERATING | |
|---|---|---|
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease in debtors Increase/(decrease) in creditors Net cash used in operations |
31.3.24 £ (100,944) 3,935 (5,082) 1,605 4,465 (96,021) |
31.3.23 £ (60,617) 5,490 (2,467) 47,027 (25,948) |
| (36,515) |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.23 | Cash flow | At 31.3.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 234,527 | (97,088) | 137,439 |
| 234,527 | (97,088) | 137,439 | |
| Liquid resources | |||
| Deposits included in cash | - | - | - |
| Current asset investments | 100,629 | 1,533 | 102,162 |
| 100,629 | 1,533 | 102,162 | |
| Total | 335,156 | (95,555) | 239,601 |
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 2024
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 2024
| 2. DONATIONS AND LEGACIES Donations Subscriptions Other income Leisure activities 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: Jack Petchey London Borough of Barking & Dagenham London Borough of Havering London Borough of Redbridge National Lottery Grant BBC Children in Need Social enterprise Tudor Trust - Girls' Autism Covid grants Mrs Smith & Mount - Family Support National Lottery Outreach North East London CCG - Consultation North East London CCG - Family Young Creators Arts Programme Jack Petchey Youth Clubs Essex Youth Trust Charles S French - Youth Clubs EPEC - DABD London Borough of Barking and Dagnham - Early Help Sport England London Borough of Redbridge - Short Breaks Lifeline Projects - EYP Well Being |
31.3.24 £ 20,792 2,560 13,032 6,898 43,282 31.3.24 £ 5,082 31.3.24 £ 10,205 289,522 299,727 31.3.24 £ 2,700 12,142 80,000 761 52,938 16,490 - 16,483 - 1,188 - - - - - 9,250 9,270 14,760 58,000 2,642 4,697 8,201 289,522 |
31.3.23 £ 17,708 1,650 15,748 6,143 41,249 31.3.23 £ 2,467 31.3.23 £ 9,052 368,024 |
|---|---|---|
| 377,076 | ||
| 31.3.23 £ 2,700 43,784 80,000 5,761 104,924 38,098 10,000 15,983 675 4,750 2,375 19,067 9,000 1,400 13,178 7,800 3,086 5,443 - - - - |
||
| 368,024 |
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
5. CHARITABLE ACTIVITIES COSTS
| Charitable activities SUPPORT COSTS Charitable activities Support costs, included in the above, are as follows: GOVERNANCE COSTS Accountancy and legal fees Subscriptions NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Other operating leases Independent examination |
Direct Costs £ 444,628 |
Support costs (see note 6) Totals £ £ 4,407 449,035 Governance costs £ 4,407 31.3.24 31.3.23 Charitable Total activities activities £ £ 2,820 2,820 1,587 2,231 4,407 5,051 31.3.24 31.3.23 £ £ 3,935 5,490 36,578 32,851 2,820 2,820 |
|---|---|---|
6. SUPPORT COSTS
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
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 2024 nor for the year ended 31 March 2023.
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.3.24 £ 309,769 17,120 5,940 332,829 |
31.3.23 £ 334,862 20,650 6,290 |
|---|---|---|
| 361,802 |
The total remuneration of key management personnel amounted to £39,029 (2023: £41,930).
The average monthly number of employees during the year was as follows:
| Chief executive Direct charitable work 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 41,249 Charitable activities Charitable activities 128,727 Investment income 2,467 Total 172,443 EXPENDITURE ON Charitable activities Charitable activities 249,211 NET INCOME/(EXPENDITURE) (76,768) RECONCILIATION OF FUNDS Total funds brought forward 314,063 TOTAL FUNDS CARRIED FORWARD 237,295 |
31.3.24 1 26 27 Restricted funds £ - 248,349 - 248,349 232,198 16,151 42,320 58,471 |
31.3.23 1 26 27 Total funds £ 41,249 377,076 2,467 420,792 481,409 (60,617) 356,383 295,766 |
|---|---|---|
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
11. TANGIBLE FIXED ASSETS
| 11. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Plant and | ||
| machinery | ||
| £ | ||
| COST | ||
| At 1 April 2023 | 45,109 | |
| Additions | 4,616 | |
| Disposals | (1,794) | |
| At 31 March 2024 | 47,931 | |
| DEPRECIATION | ||
| At 1 April 2023 | 40,037 | |
| Charge for year | 3,935 | |
| Eliminated on disposal | (1,794) | |
| At 31 March 2024 | 42,178 | |
| NET BOOK VALUE | ||
| At 31 March 2024 | 5,753 | |
| At 31 March 2023 | 5,072 | |
| 12. | FIXED ASSET INVESTMENTS | |
| Shares in | ||
| group | ||
| undertakings | ||
| £ | ||
| MARKET VALUE | ||
| At 1 April 2023 and 31 March 2024 | 1 | |
| NET BOOK VALUE | ||
| At 31 March 2024 | 1 | |
| At 31 March 2023 | 1 |
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
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 24,567 | 20,036 |
| Prepayments and accrued income | 10,774 | 16,910 |
| 35,341 | 36,946 |
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
14. CURRENT ASSET INVESTMENTS
| CURRENT ASSET INVESTMENTS | |||
|---|---|---|---|
| Cash held on deposit bonds Current investments are bank deposits which are for terms of one year or less. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
31.3.24 £ 102,162 31.3.24 £ 5,574 3,942 3,946 72,412 85,874 |
31.3.23 £ 100,629 |
|
| 31.3.23 £ 9,771 5,305 4,216 62,117 81,409 |
|||
| 81,409 |
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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 17. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
At 1.4.23 £ 237,295 58,471 295,766 |
31.3.24 £ 25,550 20,000 45,550 Net movement in funds £ (63,413) (37,531) (100,944) |
31.3.23 £ 32,288 39,500 71,788 At 31.3.24 £ 173,882 20,940 |
|---|---|---|---|
| 194,822 |
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 138,569 Restricted funds Restricted funds 209,522 TOTAL FUNDS 348,091 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 314,063 Restricted funds Restricted funds 42,320 TOTAL FUNDS 356,383 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 172,443 Restricted funds Restricted funds 248,349 TOTAL FUNDS 420,792 |
Resources Movement expended in funds £ £ (201,982) (63,413) (247,053) (37,531) (449,035) (100,944) Net movement At in funds 31.3.23 £ £ (76,768) 237,295 16,151 58,471 (60,617) 295,766 Resources Movement expended in funds £ £ (249,211) (76,768) (232,198) 16,151 (481,409) (60,617) |
|---|---|
continued...
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Sycamore Trust U.K.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
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 1.4.22 £ 314,063 42,320 356,383 |
Net movement in funds £ (140,181) (21,380) (161,561) |
At 31.3.24 £ 173,882 20,940 |
|---|---|---|---|
| 194,822 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
Incoming resources £ 311,012 457,871 768,883 |
Resources Movement expended in funds £ £ (451,193) (140,181) (479,251) (21,380) (930,444) (161,561) |
Resources Movement expended in funds £ £ (451,193) (140,181) (479,251) (21,380) (930,444) (161,561) |
|---|---|---|---|
| (161,561) |
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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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