## Adam Outreach Project Ltd
Report and Accounts Year ended 30 June 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **ADAM OUTREACH PROJECT LTD**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **Trustees**
David Brown Russell Thomas Parsons Terence Watson Geoffrey Leslie Ward
## **Governing Document**
Memorandum and Articles of Association dated 24 May 2006
**Company Registration Number** 05826799 **Charity Registration Number** 1117871
## **Registered Office**
THE A1 LIFESTYLE VILLAGE GREAT NORTH ROAD LITTLE PAXTON ST. NEOTS PE19 6EN
## **Independent Examiner**
Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Trustees' Annual Report|2-4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-13|
|Detailed Statement of Financial Activities with Comparatives|14|
Page 1
## **ADAM OUTREACH PROJECT LTD**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 30 JUNE 2023**
The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.
## **Objects of the charity**
The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity, as set out in the governing document are:
a) To provide within a Christian based environment, a medium to long term residential facility for people who are in the final stages of rehabilitation from life controlling addictions and those who have been rendered homeless due to breakdown of previous relationships or on release from prison.
b) To offer a structured programme including preventative relapse strategies to enable a staged return to work/employement ethos and the eventual commitment to sustained independent living as responsible members of society.
## **Summary of the charity's main activities and achievements**
## **PRINCIPAL ACTIVITIES**
We continue to provide accommodation for homeless men who are not suffering from major mental illness or severe addiction. We provide a place which encourages the men to re-establish themselves in society in an atmosphere of Christian love and security. Until Covid 19 took place, we were providing a drop-in centre known as Gateway to Hope which was open three days a week. We are exploring avenues of how we can re-open this service in different premises. We continue to provide work for the men with the property maintenance, work in the garden and furniture restoration and have added interest in poetry, football, music, fishing, cooking and "Christianity Explored" Courses.
## **PERSONNEL**
We are delighted to report that Ricky Bolden, our Senior manager, is becoming more experienced and has built up a good team of Managers to ensure someone is present or on-call at the home day and night. We continue to be thankful to God for all the love and care shown by our staff and volunteers during the year. We congratulate Ricky Bolden in obtaining a distinction in his management exams.
## **PROPERTY**
The properties have been well maintained and complies with all the requirements of the Council and Fire Safety Officers. We have arranged for a revaluation which is showing an increase in value to £600,000 minimum. We have taken on the lease of 400 London Road South, providing accommodation for a further 8 residents. In December 2023 we purchased the house next door for use by private clients.
## **RESIDENTS**
The average number of residents has been 13.5 which is similar to last year. We now have full occupancy.
The average number of residents has, in the last months, been 21 out of a possible 23.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Page 2
## **ADAM OUTREACH PROJECT LTD**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **Structure, Governance and Management**
Responsibility for setting policy and for determining the parameters within which the charity should operate and for making key operating decisions, rests with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to a senior management team led by Ricky Bolden. New trustees are recruited and appointed by the existing trustees, by a unanimous vote.
## **Financial review**
We are pleased to report that we have been able to show an excess of general income over expenditure of £42,568 for the year to 30th June 2023, and that our general reserves now amount to £509,781 as at 30th June 2023.
## **Reserves policy**
The trustees have determined that the charity should aim to hold unrestricted current assets (cash and rental income receivable) of no less than £60,000 (which equates to about 3 months' of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted current assets of £47,415, an improvement of £18,263 over the previous year but still short of our target. Our cash reserves are continuing to recover from the impact of Covid-19 restrictions in the previous years.
## **Key risks and uncertainties**
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
## **Responsibilities of trustees under company law**
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume
that the charity will continue in operation.
Page 3
## **ADAM OUTREACH PROJECT LTD**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 30 JUNE 2023**
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
## David W Brown
> David W Brown (Dec 9, 2024 13:59 GMT) _____________________________________ David Brown Date: _________________________ Dec 9, 2024
Page 4
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **ADAM OUTREACH PROJECT LTD**
## **('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023 on pages 6 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 8 to 9.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Sarah Crispin
Sarah Crispin (Dec 9, 2024 15:32 GMT)
Sarah Crispin ACA Institute of Chartered Accountants in England & Wales Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Dec 9, 2024
Page 5
## **ADAM OUTREACH PROJECT LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 30 JUNE 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations
3
Charitable activities
4
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
5
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Other recognised gains/(losses):**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13|Unrestricted
Funds
£
10,114
242,336
-
252,450
209,883
209,883
42,567
-
42,567
25,174
67,741
442,040
509,781|Restricted
Funds
£
4,172
-
-
4,172
-
-
4,172
-
4,172
-
4,172
-
4,172|Total
Funds
2023
£
14,286
242,336
-
256,622
209,883
209,883
46,739
-
46,739
25,174
71,913
442,040
513,953|Total
Funds
2022
£
9,074
213,659
2|
|---|---|---|---|---|
|||||222,735|
|||||196,695|
|||||196,695|
|||||26,040
-|
|||||26,040
170,000|
|||||196,040
246,000|
|||||442,040|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 8-13 form part of these accounts.
Page 6
## **ADAM OUTREACH PROJECT LTD**
## **BALANCE SHEET**
## **AS AT 30 JUNE 2023**
|Note
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
9
**CREDITORS: Amounts falling**
**due within one year**
10
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**CREDITORS: Amounts falling due**
11
**after more than one year**
**TOTAL NET ASSETS**
**FUND BALANCES**
13
Unrestricted Funds
General funds
Revaluation reserve
Restricted Funds|Unrestricted
Funds
£
605,382
605,382
15,063
32,353
47,415
(26,898)
20,517
625,899
(116,118)
509,781
314,607
195,174
509,781
-
509,781|Restricted
Funds
£
-
-
-
4,172
4,172
-
4,172
4,172
-
4,172
-
-
-
4,172
4,172|Total
Funds
2023
£
605,382
605,382
15,063
36,525
51,587
(26,898)
24,689
630,071
(116,118)
513,953
314,607
195,174
509,781
4,172
513,953|Total
Funds
2022
£
582,298|
|---|---|---|---|---|
|||||582,298|
|||||16,422
12,730|
|||||29,152
(29,667)|
|||||(515)|
|||||581,783
(139,743)|
|||||442,040|
|||||272,040
170,000|
|||||442,040
-|
|||||442,040|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
- The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities
- (a) ensuring that the charitable company keeps accounting records which 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 net income or expenditure 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 have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
David W Brown David W Brown (Dec 9, 2024 13:59 GMT) --------------------------------------David Brown Dec 9, 2024 Date: ___________________
Company number: 05826799
Charity number: 1117871
The notes on page 8-13 form part of these accounts.
Page 7
## **ADAM OUTREACH PROJECT LTD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain assets, which are measured at fair value through the Statement of Financial Activities.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations includes:
i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
The charity relies on volunteers to carry out many of its activities, particularly for mental health advice, cooking, music, art, poetry and biblical instruction. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It consists of rental income from tenants at Hope House and Grace House.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
## d) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
Page 8
## **ADAM OUTREACH PROJECT LTD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **2 Accounting Policies (cont.)**
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a reducing balance basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Freehold buildings Are not depreciated as they are held at current market value Motor Vehicles 25% reducing balance basis Equipment 25% reducing balance basis
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## g) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## h) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## i) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
j) Critical accounting estimates and areas of judgement ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.
- ii) Fixed asset property is included at the latest valuation. The trustees assess this annually and carry out formal valuations every three years. When necesaary, the carrying value of the property is adjusted.
## **3 Donations**
|**ations**|||
|---|---|---|
|Donations of cash and similar
Donations in kind (accounting services)
Other grants receivable
Income tax recoverable|2023
£
7,110
2,000
4,172
1,004
14,286|2022
£
7,074
1,800
-
200|
|||9,074|
## **4 Income from charitable activities**
|**me from charitable activities**|||
|---|---|---|
|Tenancy Rent|2023
£
242,336
242,336|2022
£
213,659|
|||213,659|
Page 9
## **ADAM OUTREACH PROJECT LTD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **5 Charitable expenditure**
|**Costs incurred directly on specific activities**
Salaries, travel and expenses
House running costs
Telephone and utilities
Rent
Miscellaneous expenses
**Costs incurred on support & administration**
Governance costs
Independent examiner's fee
Other
Administration costs
Professional fees
Donations in kind expensed (accounting services)
Interest payable on loans & mortgage
Depreciation of tangible fixed assets
**Total expenditure**|2023
£
125,700
21,762
26,163
9,930
-
183,555
3,000
539
3,539
13,039
2,101
2,000
3,559
2,090
26,328
209,883|2022
£
122,695
26,174
19,719
-
3,079|
|---|---|---|
|||171,668|
|||-
2,561|
|||2,561
9,124
2,553
1,800
6,498
2,491|
|||25,027|
|||196,695|
## **a Costs incurred directly on specific activities**
## **b Costs incurred on support & administration**
The fee payable to the independent examiner for preparing and examining the accounts was £3,000 (2022: £nil);
## **6 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 5.8 (2022: 5.0). Many of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
No trustees received employment benefits in either the current or preceding year.
## **7 Tangible fixed assets**
|Cost or valuation
At 1 July 2022
Additions
Gains / (losses) on revaluation
At 30 June 2023
Accumulated depreciation
At 1 July 2022
Charge for the year
At 30 June 2023
Net book value
At 30 June 2023
At 30 June 2022|Freehold
Property
£
574,826
-
25,174
600,000
-
-
-
600,000
574,826|Fixtures,
fittings and
equipment
£
34,712
-
-
34,712
27,240
2,090
29,330
5,382
7,472|Vehicles
£
4,955
-
-
4,955
4,955
-
4,955
-
-|Total
2023
£
614,493
-
25,174|
|---|---|---|---|---|
|||||639,667|
|||||32,195
2,090|
|||||34,285|
|||||605,382|
|||||582,298|
Page 10
## **ADAM OUTREACH PROJECT LTD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **7 Tangible fixed assets (cont.)**
Freehold property was valued at £600,000 on 20 July 2023 by an independent qualified valuer at open market value assuming vacant possession. The trustees are not aware of any material changes in value since July 2023 and the valuation has not been updated. If freehold property had not been revalued, its carrying value at historical cost would have been £404,827 (2022: £404,827).
## **8 Debtors: falling due within one year**
|Tax recoverable
Other debtors
Prepayments and accrued income
**9**
**Cash at Bank and in Hand**
Cash at bank with immediate access
**10**
**Creditors: liabilities falling due within one year**
Deferred income
Other creditors
Accruals
Bounce back loans
Mortgage
**11**
**Creditors: amounts falling due after more than one year**
Bounce Back Loan
Mortgage|2023
£
1,413
3,000
10,650
15,063
2023
£
36,525
36,525
2023
£
-
273
3,000
4,080
19,544
26,898
2023
£
24,482
91,636
116,118|2022
£
600
-
15,822|
|---|---|---|
|||16,422|
|||2022
£
12,730|
|||12,730|
|||2022
£
3,500
554
-
7,322
18,291|
|||29,667|
|||2022
£
28,563
111,180|
|||139,743|
## **12 Pension commitments**
During the year employer’s pension contributions totalling £1,309 (2022: £1,325) were payable to defined contribution personal pension schemes. Pension contributions of £273 were owing at the balance sheet date (2022: £nil).
Page 11
## **ADAM OUTREACH PROJECT LTD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **13 Funds**
During the year the movements in the charity's funds were as follows:
|_Revaluation Reserve_
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Garden area grant
Aggregate of funds|Opening
balance
2023
£
170,000
272,040
442,040
-
-
442,040|Incoming
resources
2023
£
-
252,450
252,450
4,172
4,172
256,622|Outgoing
resources
2023
£
-
(209,883)
(209,883)
-
-
(209,883)|Transfers
in the year
2023
£
-
-
-
-
-
-|Gains and
losses
2023
£
25,174
-
25,174
-
-
25,174|Closing
balance
2023
£
195,174
314,607|
|---|---|---|---|---|---|---|
|||||||509,781|
|||||||4,172|
|||||||4,172|
|||||||513,953|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year|General
Revaluation
Designated
funds
reserve
funds
£
£
£
410,208
195,174
-
15,063
-
-
32,353
-
-
(26,898)
-
-
(116,118)
-
-
314,607
195,174
-
Unrestricted Funds|Restricted
funds
£
-
-
4,172
-
-
4,172|2023
£
605,382
15,063
36,525
(26,898)
(116,118)|
|---|---|---|---|
||||513,953|
In the previous year the movements in the charity's funds were as follows:
|_Revaluation Reserve_
_General Unrestricted Funds_
Total Unrestricted Funds
Aggregate of funds|Opening
balance
2022
£
-
246,000
246,000
246,000|Incoming
resources
2022
£
-
222,735
222,735
222,735|Outgoing
resources
2022
£
-
(196,695)
(196,695)
(196,695)|Transfers
in the year
2022
£
-
-
-
-|Gains and
losses
2022
£
170,000
-
170,000
170,000|Closing
balance
2022
£
170,000
272,040|
|---|---|---|---|---|---|---|
|||||||442,040|
|||||||442,040|
Page 12
## **ADAM OUTREACH PROJECT LTD**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **13 Funds (cont.)**
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after one year|General
Revaluation
Designated
funds
reserve
funds
£
£
£
412,298
170,000
-
16,422
-
-
12,730
-
-
(29,667)
-
-
(139,743)
-
-
272,040
170,000
-
Unrestricted Funds|Restricted
funds
£
-
-
-
-
-
-
|2022
£
582,298
16,422
12,730
(29,667)
(139,743)|
|---|---|---|---|
||||442,040|
The restricted Garden Area grant was received to create a restful garden area at Hope House.
## **14 Operating lease commitments**
The charity has an operating lease for one of its properties, Grace House. The minimum amount payable (until the next break clause and ignoring the potential effect of future rent reviews) in respect of this lease is as follows:
|clause and ignoring the potential effect of future rent reviews) in respect of this lease is as follows:|||
|---|---|---|
|Within one year
Between one and five years
Payments falling due:|2023
£
39,960
29,970
69,930|2022
£
-
-|
|||-|
During the year the charity was charged £9,930 (2022: £nil) for its operating lease.
## **15 Transactions with related parties**
During the year the charity:
- a) received donations totalling £5,700 (2022: £500) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
- b) paid travel expenses totalling £539 (2022: £2,560) to trustees for travel to meetings and training whilst carrying out duties associated with being trustees; reimbursements for expenses incurred when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a trustee are not included in this disclosure.
There have been no other transactions with related parties during the year.
## **16 Events since the year end**
In December 2023 the charity purchased the house next door to Hope House, Harmony House (398 London Road South), for use by private clients, and financed by a loan.
## **17 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £10.
Page 13
## **ADAM OUTREACH PROJECT LTD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 30 JUNE 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations
3
Charitable activities
4
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
5
**Total Expenditure**
**Net gains/(losses) on investments**
**Net income/(expenditure)**
**Transfers between funds**
13
**Other recognised gains/(losses):**
Gains/(losses) on revaluation of fixed assets
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13||General
Designated
2023
2023
£
£
10,114
242,336
-
252,450
-
209,883
209,883
-
-
42,567
-
-
-
42,567
-
25,174
-
67,741
-
442,040
-
509,781
-
Unrestricted funds|Restricted
2023
£
4,172
4,172
-
4,172
-
4,172
-
4,172
-
4,172|Total
2023
£
14,286
242,336
-
256,622
209,883
209,883
-
46,739
-
46,739
25,174
71,913
442,040
513,953|||General
Designated
2022
2022
£
£
9,074
213,659
2
222,735
-
196,695
196,695
-
-
26,040
-
-
-
26,040
-
170,000
196,040
-
246,000
-
442,040
-
Unrestricted funds|Restricted
2022
£
-
-
-
-
-
-
-
-|Total
2022
£
9,074
213,659
2
222,735
196,695
196,695
-
26,040
-
26,040
170,000
196,040
246,000
442,040|
|---|---|---|---|---|---|---|---|---|---|
Page 14