Hornsey Rise Ltd Charity No. 1117819 Company No. 05484099 Trustees. Report and Unaudited Accounts 31 March 2024
Hornsey Rise Ltd Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 2to6 7t07 8t08 Summary Income and Expenditure Account Balance Sheet 9t09 IOtolO Statement of Cash flows 12to12 Notes to the Accounts 13to19 Detailed Statement of Financial Activities 20to21 Page I
Hornsey Rise Ltd Trustees Annual Report Hornsey Rise Ltd The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DAlL5 Company No. 05484099 Charity No. 1117819 Principal Office 440 Hornsey Road Islington London N19 4EB Registered Office CIO CWA Unit 4, 3rd Floor Pride Court, 80-82 White Lion Street NI 9PF Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year.. M.H. Bhuiyan M.A. Karim M.A. Rahman Key Management Personnel Mohammad A Rahman Mohammed A Karim Ali Ahmed Popal Accountants CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London NI 9PF Bankers Barclays Bank PIC I Churchill Place London E14 5HP Page 2
Hornsey Rise Ltd Trustees Annual Report OBJEcfivES AND AcfiviTIES Objectives The charity's objects are: To further, or benefit, the Islamic community of Islington and the surrounding boroughs. without distinction otherwise sex. sexual orientation. race or of political. religious or other opinions by associating together the said community and the local authorities, voluntary and other organisations in a common effort to advance education. the Islamic religion and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the community- In furtherance of these objects but not otherwise, the trustees shall have the power- To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects. ACHIEVEMENTS AND PERFORMANCE Achievements and performance We continue to lease 440 Horn5ey Road, N19 4EB, to Holloway Educational and Cultural Centre {HECCI. The lease was renewed in March 2024. HECC continues to provide activities from the centre to the community in the interest of public benefit. Activities taking place at the centre include: Children's Education through the Academy Daily prayers and circles Adult classes for Men and Women Community welfare visits Season31 activities during Ramadan and Eid festivals HRL continued to work with partner charities and to support where required. HRL particularly supported HECC in meeting its charity objectives. In the previous year we supported them with their finance and administrative management. but they are now successfully managing their finance and administration with their own banking facility. Community Outreach Visits The trustees and charity volunteers regularly visit homes to engage with youth and adults to provide support and advice to those in need. Our youth volunteers walk the streets engaging with the youth and give advice to attend our centre and participate in the activities at the centre. Friday Prayers Two Friday prayers are held due to demand. An average of 400 community members participate in the two congregational prayers. At the beginning of the prayers short talks are given to encourage and motivate to participate in community activities and social causes. FINANCIAL REVIEW Page 3
Hornsey Rise Ltd Trustees Annual Report A review of the charity's financial position at the year ended 31 March 2024 During the financial year 2024. the charity recorded income amounting to £47,684 (2023 - £54,333) mainly from unrestricted donations and rental income from Investment property. The charity remains satisfactory to support its level of expenditure on the charitable objectives. There are no uncertainties about the charity's ability to continue as a going concern. i)There were no disclosable related party transactions during the year12024 - none}. iilNone of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. One trustee was paid volunteer expenses of £1320. iiilNo money amount was paid to the independent examiner as they are providing this service pro bono. Page 4
Hornsey Rise Ltd Trustees Annual Report Statement of trustees, responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detertion of fraud and other irregularities. Public Benefit We confirm that in providing the above services and in writing this report, we have had regard to the guidance issued by the Charity Commission on public benefit. ReSee Policy HRL provides space for other charities to carry out activities in line with our objectives. There are no employee5 or regular activitie5 needing funding. The trustees recognise the requirement to look into keeping reseNes in the future for possible future activities that HRL may run. The reserves would ensure as far as possible the sustainability of the charity s future activities. Risk Management The trustees believe that sound risk management is integral to both good management and good governance practice. Risk management forms an important part of the charity s decision making and is incorporated within planning. Risk assessment are to be conducted on all new activities and projects to ensure they are in line with the charity s objectives and mission. A risk register covering key strategic risks will be maintained and updated. A detailed risk register is to be drafted and will be maintained and will regularly review and monitor the effectiveness of its risk management framework and update it as necessary. Volunteers HRL recognises the contributions of its volunteers who work tirelessly to serve the local community. Volunteers are requested and recruited as and when necessary, using our Volunteer Management policy as the guide. Statement of Trustees Responsibilities The Trustees are aware that Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure for that period. In preparing those financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles of the charities SORP- make judgments and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to Disclosure of Information to Independent Examiner So far as the Trustees are aware, there is no relevant information of which the charitable company s independent examiners are unaware. and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant audit information and to establish that the charity s auditors are of that information. Method of preparation of accounts The accounts have been prepared in accordance with the charity s Memorandum and Articles of Association and comply with the Companies Act 2006 and the Statement of Recommended Practice1SORPI, Accounting and Reporting by Charities Act 2011. M A Rahman PLANS FOR FUTURE PERIODS Page 5
Hornsey Rise Ltd Trustees Annual Report Future Plans We are looking into the following as future activities: Better use of the property space. possibly allowing other charities to operate from the premises. Improve the space to make it more welcoming to children. women and older people. Secure two community groups or charities to have regular slots to provide activities and service to support the local community. Look to open a food bank as the need and request for it is increasing. STRUCTURE, GOVERNANCE AND MANAGEMENT Page 6
Hornsey Rise Ltd Trustees Annual Report Statement of trustees, responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities IAccounts and Reports) Regulations. and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Public Benefit We confirm that in providing the above services and in writing this report, we have had regard to the guidance issued by the Charity Commission on public benefit. Reserve Policy HRL provides space for other charities to carry out activities in line with our objectives. There are no employees or regular activities needing funding. The trustees recognise the requirement to look into keeping reserves in the future for possible future activities that HRL may run. The reserves would ensure as far as possible the sustainability of the charity's future activities. Risk Management The trustees believe that sound risk management is integral to both good management and good governance practice. Risk management forms an important part of the chariVs decision-making and is incorporated within planning. Risk assessment are to be conducted on 311 new activities and projects to ensure they are in line with the charity's objectives and mission. A risk register covering key strategic risks will be maintained and updated. A detailed risk register is to be drafted and will be maintained and will regularly review and monitor the effectiveness of its risk management framework and update it as necessary. Volunteers HRL recognises the contributions of its volunteers who work tirelessly to serve the local community. Volunteers are requested and recruited as and when necessary, using our Volunteer Management policy as the guide. Statement of Trustees Responsibilities The Trustees are aware that Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including its income and expenditure for that period. In preparing those financial statements, the directors are required to-_ select suitable accounting policies and then apply them consistently: *observe the methods and principles of the charities SORP- make judgments and estimates that are reasonable and prudent: 'state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 7
Hornsey Rise Ltd Trustees Annual Report The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 102}. Signed on behalf of the board M.A. Rahman Trustee 20 December 2024 Page 8
Hornsey Rise Ltd Independent Examiners Report Independent Examiner'5 Report to the trustees of Hornsey Rise Ltd I report to the charity trustees on my examination of the financial statements of Hornsey Rise Ltd 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 lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the financial statements of the Charity 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 financial statements as carried out under settion 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51 {bl of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe- • accounting records were not kept in accordance with section 386 of the 2006 Act , or the f inancial statements do not accord with those records- or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered a5 part of an independent examination; or the f inancial statements 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 U K and Republic of Ireland IFRS 1021. 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 financial statements to be reached. Mr Ali Arif Certified Accountants CWA Certified Accountants Unit 4, 3rd Floor 80-82 White Lion Street London NI 9PF 20 December 2024 Page 9
Hornsey Rise Ltd Statement of Financial Activities for the year ended 31 March 2024 Unrestricted fund5 2024 Restrirted funds Total fund5 Total funds 2024 2024 2023 Notes Income and endowments from: Donations and legacies Investments Other 47,234 450 47,234 450 47,731 6,600 Total 47.684 47.684 54,334 Expenditure on: Other 27.107 27.107 43,335 Total 27.107 27.107 43,335 Net gains on investments Net income 20,577 20,577 10,999 Transfers between funds Net income before other gains/(losses) 20,577 20,577 10,999 Other gains and losses Net movement in funds 20.577 20.577 10,999 Reconciliation of funds: Total funds brought forward 1.549.057 1,549,057 1,538,059 Total funds carried forward 20,577 1,549,057 1,569,634 1,549,058 Page 10
Hornsey Rise Ltd Summary Income and Expenditure Account for the year ended 31 March 2024 2024 2023 Income 47,234 54,333 Interest and investment income 450 Gross income for the year Expenditure 47,684 54,333 27,107 43,335 Total expenditure for the year Net income before tax for the year 27.107 43.335 20,577 10,998 Net income for the year 20.577 10.998 Page 11
Hornsey Rise Ltd Balance Sheet at 31 March 2024 Company No. 05484099 Notes 2024 2023 Fixed assets Investments 1,582.666 1,582,666 1.582,666 1,582,666 Current assets Debtors io 50,599 22,937 73,536 {ii 50,599 32,360 82,959 Cash at bank and in hand Creditors: Amount falling due within one year Net current assets li 73,535 82,959 Total as5et5 less current liabilities 1,656.201 1.665,625 Creditors: Amounts falling due after more than one year Net assets excluding pension asset or liability 12 (86,5671 1,569,634 1116,567} 1,549,058 Total net assets 1,569,634 1,549,058 The funds of the charity Restrirted funds Restricted income funds 13 999.057 999,057 999,057 999,057 Unrestricted fund5 General funds 13 20,577 20.577 Reserves Revaluation reserve 13 550,000 550.000 550,000 550,000 Total funds 1,569.634 1.549,057 These accounts have been prepared in accordance with the special provisions of Part IS of the Companies Act 2006 relating to small companies. For the year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The director5 acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 20 December 2024 And signed on its behalf by. M.A. Karim Page 12
Horn5ey Rise Ltd Balance Sheet Trustee 20 December 2024 Page 13
Hornsey Rise Ltd Statement of Cash flows for the year ended 31 March 2024 2024 2023 Cash flows from operating activities Net income per Statement of Financial Activities 20,577 10,998 Adjustments for: Dividends, interest and rents from investments Increase in trade and other receivables Decrease in trade and other payables 14501 16,6031 137,5991 (30,0001 Net cash used in operatlng artivlties {9,8731 133,2041 Cash flows from investing activities Dividends, interest and rents from investments 450 6,603 Net cash from investing activities 450 6,603 Net cash from financing activities 38,927 Net (decrease}/increase in cash and cash equivalents {9.423} 12,326 Cash and cash equivalents at the beginning of the year 32.360 58,227 Cash and cash equivalents at the end of the year 22.937 70,553 Components of cash and cash equivalents Cash and bank balances 22.937 32,360 22.937 32,360 Page 14
Hornsey Rise Ltd Notes to the Accounts for the year ended 31 March 2024 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with 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 I January 20151 {Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity- These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to. and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. legacies Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets and facilities Gains/llosses} on investment assets This includes any gain or loss on the sale of investments. Page 15
Hornsey Rise Ltd Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported 35 part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects. including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity. including any audit/independent examination fees. costs linked to the strategic management of the Charity, together with a share of other administration costs. Grants payable Governance costs Other expenditure These are support costs not allocated to a particular activity. Taxation The charity is exempt from corporation tax on its charitable activities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock 15 included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of f inancial position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 16
Hornsey Rise Ltd Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transaction5 in currencie5 Other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased a55et5 Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset. the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under f inance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or. if lower. at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation 50 35 to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately. unless they are directly attributable to qualifying assets. in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contribution5 are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods, facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company ststus The company is a private company limited by guarantee and consequently does not have share capital. Page 17
Hornsey Rise Ltd Notes to the Accounts 3 Statement of Financial Activities- prior year Unrestricted funds Restricted fund5 Total fund5 2023 2023 2023 Income and endowments from: Donations and legacies Other 47,730 6,603 47,730 6,603 Total 54,333 54,333 Expenditure on: Other 43,335 43,335 Total 43,335 43,335 Net income 10,998 10,998 Net income before other gains1(Ios5es) Other gains and losses: 10,998 10,998 Net movement in funds 10,998 10,998 Reconciliation of fund5: Total funds brought forward Total funds carried forward 1,538.059 1,538.059 10,998 1,538.059 1,549.057 4 Income from donations and legacies Unrestrirted Total Total 2024 2023 Donations 1,380 44,769 1,085 47,234 1,380 44,769 1,085 47,234 4,486 41,829 1,416 47,731 Online donations Standing orders 5 Income from investments Unrestricted Total Total 2024 2023 Rental income 450 450 6,600 6,600 450 450 Page 18
Hornsey Rise Ltd Notes to the Accounts 6 Other income Total Total 2024 2023 7 Other expenditure Unrestricted Total Total 2024 2023 Bank charges 102 102 Motor and travel costs 120 Premises costs 6.491 514 6.491 514 13,191 701 General administrative costs Legal and professional costs 20,000 27,107 20,000 27,107 29,323 43,335 8 Staff costs No employee received emoluments in excess of £60,000. Neither the trustees nor any person connected with them have received any remuneration, either in the current year or the prior year. No expenses were paid to trustees or persons connected with them. 9 Investments Freehold Investment Property Total Cost or revaluation At l April 2023 At 31 March 2024 Net book values 1.582.666 1,582,666 1.582,666 1,582,666 At 31 March 2024 At 31 March 2023 1,582.666 1,582,666 1,582.666 1,582,666 Freehold Investment Property The freehold investment property was acquired on 2005. The property was revalued on 2019 by Local Estate Agent . 10 Debtors 2024 2023 Other debtors 50,599 50,599 50,599 50,599 Page 19
Hornsey Rise Ltd Notes to the Accounts 11 Creditors: amounts falling due within one year 2024 2023 Accruals 12 Creditors: amounts falling due after more than one year 2024 2023 Karza Hasana {Loans from public) 86,567 86,567 116,567 116,567 13 Movement in funds Incoming resources At31 (including other At l April gains/los5es 2023 Resources March expended 2024 Restricted funds: Restricted income funds: Donation by public 999.057 999,057 Total 999.057 999,057 Unrestricted fund5: General funds 47,684 127.1071 20,577 Revaluation Reserves: Restricted funds: Donation by public 550.000 550,000 Total 550.000 550,000 Total revoluation reserves 550.000 550,000 Total funds 1,549,057 47,684 127,1071 1,569,634 Purposes and restrirtions in relation to the funds-. Revaluation reserves Represent the amount by which investments exceed their historical cost. Restricted funds: Donation by public To Support Charity's day to day activity Page 20
Hornsey Rise Ltd Notes to the Accounts 14 Analysis of net assets between funds Unrestricted funds Restrirted Total funds Investments 1.582.666 1.582.666 73,535 Net current assets 73,535 Creditors due in more than one year and provisions 186,5671 186,5671 73,535 1,496,099 1,569,634 15 Reconciliation of net debt At31 March At l April 2023 Cash flows 2024 Cash and cash equivalents 32,360 32,360 19,4231 19,4231 22,937 22,937 Net debt 32,360 19,4231 22,937 16 Related party disclosures Controlling party The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 21
Hornsey Rise Ltd Detailed Statement of Financial Activities for the year ended 31 March 2024 Unrestricte d fund5 2024 Total fund5 2024 Total funds 2023 2024 Income and endowments from: Donations and legacies 1.380 44,769 1,085 47,234 1.380 44,769 1.085 47,234 4,486 41,829 1.416 47,731 Investments 450 450 6,600 6,600 450 450 Other Total income and endowments 47.684 47,684 54,334 Expenditure on: Other expenditure 102 102 102 102 Travel and subsistence 120 120 Premises costs Rates 445 Light. heat and power Premises insurances 6.491 6.491 11.347 1,399 13.191 6.491 6.491 General administrative costs, including depreciation and amortisation Bank charges Telephone, fax and broadband 216 514 514 485 514 514 701 Legal and professional costs Management charges Solicitor's fees 350 20.000 20,000 20.000 20,000 28,973 29,323 Total of expenditure of other costs 27,107 27,107 43,335 Total expenditure 27.107 27,107 43,335 Net gains on investments Net income 20.577 20.577 10,999 Page 22
Hornsey Rise Ltd Detailed Statement of Financial Activities Net income before other gains/(losses) Other Gains 20,577 20,577 10,999 Net movement in funds 20.577 20,577 10,999 Reconciliation of funds: Total funds brought forward 1,549,057 1,549,057 1,538,059 Total funds carried forward 20.577 1.549.057 1.569.634 1,549,058 Page 23