2022-05-31-accounts

The Rock - Currock Youth Project

(A company limited by guarantee)

Annual Report and Financial Statements

31 May 2022

Company registration number: 05819388 Charity registration number: 1119397

The Rock - Currock Youth Project

Contents

Reference and Administrative Details	1
Trustees' report	2
Trustees' responsibilities in relation to the financial statements	4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8

The Rock - Currock Youth Project Reference and Administrative Details

Charity name	The Rock - Currock Youth Project	The Rock - Currock Youth Project
Charity registration number	1119397
Company registration number	05819388
Principal office	The Rock Youth	Project
	Scalegate Road
	CARLISLE
	CA2 4JY
Registered office	Victoria House
	Wavell Drive
	Rosehill Industrial Estate
	CARLISLE
	CA1 2ST
Trustees	Rev A Jones
	R G Mitchell	(Resigned 20 July 2021)
	G L Nicholls	(Resigned 4 August 2021)
	J C Wannop
	F J Robson	(Resigned 18 March 2022)
	D L Wilde	(Resigned 31 October 2022)
	C Piercy
	P M Brown	(Appointed 19 November 2021)
	A P Golding	(Appointed 25 March 2022)
	C A Wills	(Appointed 10 December 2021)
Secretary	M J Walby
Solicitor	Burnetts
	Victoria House
	Wavell Drive
	Rosehill Industrial Estate
	CARLISLE
	CA1 2ST
Accountant	Dodd & Co Limited
	FIFTEEN Rosehill
	Montgomery Way
	Rosehill Estate
	CARLISLE
	CA1 2RW

Page 1

The Rock - Currock Youth Project

Trustees' Report for the Year Ended 31 May 2022

The trustees present their report for the year ended 31 May 2022 which also contains a directors’ report as required by company law.

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee. It was incorporated on 17 May 2006, with company registration number 5819388, the company was established to create and provide quality services, activities and support for young people aged 8 to 18 of the Currock, Upperby and Harraby areas of Carlisle under a Memorandum of Association which established the objects and powers of the charitable company and it is governed under its Articles of Association. In the event of being wound up the charity must donate any property left after settling its debts to any other charity with similar objects, or dispose of its assets in any other way permitted by the Charity Commission.

Recruitment and Appointment of Trustees/Directors

The directors of the company are also the charity trustees for the purposes of charity law. The Directors/Trustees are appointed and have agreed to serve due to their involvement in and commitment to the local area and are as described in the statutory papers.

Connected Organisations

During the year ended 31 May 2022 the following organisations provided funding for the project's continued delivery, sharing strategic aims and values:

Cumbria County Council - funding for the operation of Cooking Club activities

Cumbria Community Foundation - funding for salaries

EC Graham Charitable Trust - funding for general running costs

Francis C Scott Trust – funding for salaries and premises costs

The Hadfield Trust – funding for salaries

All of the above have provided funds and have actively supported our activities.

Objectives and Activities

The principal aims and objectives are:

• To advance education and to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have needs of such facilities by

• i) reason of their youth, with the object of improving their conditions of life and thus with the aim of reducing anti-social behaviour and youth disorder

• ii) To promote such other charitable purposes as may from time to time be determined

• iii) To continue to seek out and secure funds for the continuation of the project

• To support and develop the new staffing team in order that they can continue to provide the high quality

• iv) provision for the young people of Currock and the surrounding area

• To develop our programmes which now have a strong learning emphasis, where the young people can

• v) receive early qualification and certification for their work

• vi) To continue the broad based provision on a weekly basis in a safe and secure environment

• To develop outreach projects along with other partnership organisations in order to support a wider

• vii) range of young people and families

In forming their objectives and activities, the trustees have paid due regard to the Charity Commission's public benefit guidance.

Page 2

The Rock - Currock Youth Project

Trustees' Report for the Year Ended 31 May 2022

The trustees have considered the principal risks and uncertainties facing the charity and have mitigated these as far as possible by having appropriate insurance in place as well as ensuring that all staff and volunteers working with young people have DBS checks.

Achievements and Performance

• i) Increased work in local primary schools

• ii) Increased numbers attending all weekly activities

• iii) Increase in volunteers helping the project

• iv) Better relationships between staff and young people resulting in positive outcomes

• v) Better links with the local community

• vi) Dedicated board of trustees

Financial Review

Reserves Policy

This document includes all funds held by the project as charity trustees.

Our Reserves Policy relates to our general (unrestricted) funds which are freely available to be used for any or all of the purposes of the project.

Other funds are also included for the sake of clarity and openness and to show that the project has a policy for the management of all its money not simply those which are defined as reserves.

At the year end, total reserves were £92,700 with restricted reserves being £32,278 and unrestricted reserves being £60,422. Of the unrestricted reserves, £40,556 were free reserves.

Plans for future

The trustees aim to look for further funding opportunities and continue working towards building new purpose built premises on the existing site with the young people who use The Rock having an input into design ideas.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 30 November 2022 and signed on its behalf by:

.........................................

Rev A Jones Trustee

Page 3

The Rock - Currock Youth Project

Trustees' Responsibilities in relation to the Financial Statements

The trustees (who are also directors of The Rock - Currock Youth Project for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements 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; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable 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 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.

Page 4

Independent Examiner's Report to the Trustees of

The Rock - Currock Youth Project

I report on the accounts of the company for the year ended 31 May 2022, which are set out on pages 6 to 18.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

• examine the accounts under section 145 of the 2011 Act;

• follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and

• state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

• (1) which gives me reasonable cause to believe that in any material respect the requirements:

• to keep accounting records in accordance with section 386 of the Companies Act 2006; and

• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

• (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

......................................... Martin S Ward FCA Dodd & Co Limited Chartered Accountants 30 November 2022

FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW

Page 5

The Rock - Currock Youth Project

Statement of Financial Activities (including Income and Expenditure Account ) for the Year Ended 31 May 2022

		Unrestricted		Restricted		Total Funds	Total Funds	Total Funds
		Funds		Funds		2022		2021
	Note	£		£		£		£
Income and endowments from:
Donations and legacies	2	2,400		58,899		61,299		70,251
Other income	3	945		-		945		-
Total income and endowments		3,345		58,899		62,244		70,251
Expenditure on:
Charitable activities		5,662		73,389		79,051		61,962
Total expenditure		5,662		73,389		79,051		61,962
Net (expenditure)/income before transfers		(2,317)		(14,490)		(16,807)		8,289
Transfers
Transfers between funds		-		-		-		-
Net movements in funds		(2,317)		(14,490)		(16,807)		8,289
Reconciliation of funds
Total funds brought forward		62,739		46,768		109,507		101,218
Total funds carried forward		60,422		32,278		92,700		109,507

All of the Charity's activities derive from continuing operations during the above periods.

The notes on pages 8 to 18 form an integral part of these financial statements.

Page 6

The Rock - Currock Youth Project

Company registration number: 05819388

Balance Sheet as at 31 May 2022

			2022	2022		2021	2021
	Note	£		£	£		£
Fixed assets
Tangible assets	9			2,526			3,388
Current assets
Debtors	10	7,348			8,351
Cash at bank and in hand		84,414			99,797
		91,762			108,148
Creditors: Amounts falling due within one year	11	(1,588)			(2,029)
Net current assets				90,174			106,119
Net assets				92,700			109,507
The funds of the charity:
Restricted funds				32,278			46,768
Unrestricted funds
Unrestricted income funds				60,422			62,739
Total charity funds				92,700			109,507

For the financial year ended 31 May 2022, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 November 2022 and signed on its behalf by:

.........................................

Rev A Jones Trustee

The notes on pages 8 to 18 form an integral part of these financial statements.

Page 7

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

These financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Further details of each fund are disclosed in note 16.

Income and endowments

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measured with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity.

Page 8

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fixed assets

Individual fixed assets costing £100 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fixtures and fittings 15% reducing balance basis Office equipment 3 years straight line basis

Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Liabilities

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 9

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term.

Pensions

The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 10

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

2 Donations and legacies

	Unrestricted		Restricted		Total Funds	Total Funds	Total Funds
	Funds		Funds		2022		2021
	£		£		£		£
Grants and donations
Appeals and donations	1,924		-		1,924		10,920
UK Government grants	86		-		86		10,174
Francis C Scott Trust	-		15,000		15,000		-
The Hadfield Trust	-		3,200		3,200		-
Cumbria Community Foundation	-		7,500		7,500		5,000
Cumbria County Council	-		5,590		5,590		-
Garfield Weston Foundation	-		-		-		5,000
E C Graham Charitable Trust	-		20,000		20,000		20,000
BBC Children in Need	-		-		-		9,796
Carlisle City Council	390		-		390		100
New Build Donations	-		7,609		7,609		9,261
	2,400		58,899		61,299		70,251

Of the donations and legacies income in 2021, £21,194 related to unrestricted funds and £49,057 related to restricted funds.

3 Other income

		Unrestricted		Restricted			Total Funds	Total Funds	Total Funds
		Funds		Funds			2022		2021
		£		£			£		£
Other	income	945			-		945		-

Page 11

Notes to the Financial Statements for the Year Ended 31 May 2022

The Rock - Currock Youth Project

......... continued

4 Expenditure

	Delivery of projects	Total 2022		Total 2021
	£	£		£
Direct costs
Wages and salaries	55,768	55,768		41,483
Staff pensions	653	653		396
Property costs	4,445	4,445		1,420
Project costs	2,947	2,947		4,037
Legal and professional fees	218	218		243
	64,031	64,031		47,579
Support costs
Staff training	620	620		134
Insurance	951	951		922
Telephone and fax	1,076	1,076		830
Computer software and maintenance costs	150	150		150
Printing, postage and stationery	112	112		159
Independent examiner's fee - other services	1,648	1,648		1,880
Independent examiner's fee	300	300		300
Legal and professional fees	9,021	9,021		8,625
Bank charges	280	280		221
Depreciation	862	862		1,162
	15,020	15,020		14,383
	79,051	79,051		61,962

Of the expenditure in 2021, £16,318 related to unrestricted funds and £45,644 related to restricted funds.

Included within support costs are governance costs of £10,969 (2021 - £10,805).

5 Trustees' remuneration and expenses

No trustees received any remuneration or expenses during the year.

6 Net (expenditure)/income

Net (expenditure)/income is stated after charging:

	2022		2021
	£		£
Depreciation of tangible fixed assets	862		1,162
Independent examiner's fee - other services	1,648		1,880
Independent examiner's fee	300		300

Page 12

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

7 Employees' remuneration

The monthly average number of persons (including senior management) employed by the charity during the year was as follows:

	2022		2021
	No.		No.
Charitable activities	8		7
The aggregate payroll costs of these persons were as follows:
	2022		2021
	£		£
Wages and salaries	55,768		41,483
Other pension costs	653		396
	56,421		41,879

No employee received emoluments of more than £60,000 during the year (2021 - No. 0).

8 Taxation

The company is a registered charity and is, therefore, exempt from taxation on income and gains.

Page 13

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

9 Tangible fixed assets

		Fixtures and		Office
		Fittings		equipment				Total
		£		£				£
	Cost
	As at 1 June 2021 and 31 May 2022	9,971		8,193				18,164
	Depreciation
	As at 1 June 2021	6,999		7,777				14,776
	Charge for the year	446		416					862
	As at 31 May 2022	7,445		8,193				15,638
	Net book value
	As at 31 May 2022	2,526		-				2,526
	As at 31 May 2021	2,972		416				3,388
10	Debtors
				2022				2021
				£				£
	Prepayments and accrued income			7,348				8,351
11	Creditors: Amounts falling due within one year
				2022				2021
				£				£
	Other creditors			-					149
	Accruals and deferred income			1,588				1,880
				1,588				2,029

12 Members' liability

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

Page 14

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

13 Operating lease commitments

As at 31 May 2022 the charity had total future minimum lease payments under non-cancellable operating leases as follows:

	Land and Buildings	Land and Buildings	Land and Buildings	Land and Buildings
	2022			2021
	£			£
Within one year	400			400
Within two and five years	1,600			1,600
Over five years	6,400			6,800
	8,400			8,800

14 Pension scheme

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £653 (2021 - £396).

There were no outstanding or prepaid contributions at either the beginning or end of the financial year.

Page 15

Notes to the Financial Statements for the Year Ended 31 May 2022

The Rock - Currock Youth Project

......... continued

15 Related parties

Controlling entity

The charity is controlled by the trustees who are all directors of the company.

16 Analysis of funds

	At 1 June	Incoming	Resources	At 31	May
	2021	resources	expended	2022
	£	£	£	£
General Funds
Unrestricted income fund	62,739	3,345	(5,662)	60,422
Restricted Funds
Cumbria Community Foundation	-	7,500	(7,500)		-
E C Graham's Charitable Settlement	15,699	20,000	(35,699)		-
Summer Splash	1,340	-	-		1,340
Francis C Scott Charitable Trust	6,050	15,000	(21,050)		-
Children in Need	1,631	-	(1,631)		-
New build donations	18,361	7,609	-	25,970
Garfield Weston Foundation	3,687	-	(3,687)		-
Cumbria County Council	-	5,590	(622)		4,968
The Hadfield Trust	-	3,200	(3,200)		-
	46,768	58,899	(73,389)	32,278
	109,507	62,244	(79,051)	92,700

Cumbria Community Foundation - Provision of funds to cover the cost of salaries.

E C Graham's Charitable Settlement - Provision of funds for general running costs.

Summer Splash - Various donations given for the delivery of Summer Splash project.

Francis C Scott Trust - Provision of funds to cover the wages and premises costs of Petteril Bank Youth Project.

Children in Need - Provision of funds for Currock project staff salaries.

New build donations - Provision of funds for the proposed new build on the existing site.

Garfield Weston Foundation - Provision of funds for general running costs.

Cumbria County Council - Provision of funds for the operation of Cooking Club activities.

The Hadfield Trust - Provision of funds to cover the cost of salaries.

Page 16

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

Prior period

	At 1 June 2020	Incoming resources	Resources expended	Transfers		At 31 May 2021
	£	£	£	£		£
General Funds
Unrestricted income fund	58,688	21,194	(16,318)	(825)		62,739
Restricted Funds
Cumbria Community Foundation	1,338	5,000	(7,163)		825	-
E C Graham's Charitable Settlement	12,497	20,000	(16,798)		-	15,699
Summer Splash	1,340	-	-		-	1,340
Francis C Scott Charitable Trust	15,000	-	(8,950)		-	6,050
Children in Need	851	9,796	(9,016)		-	1,631
Petteril Bank	2,404	-	(2,404)		-	-
New build donations	9,100	9,261	-		-	18,361
Garfield West Foundation	-	5,000	(1,313)		-	3,687
	42,530	49,057	(45,644)		825	46,768
	101,218	70,251	(61,962)		-	109,507

17 Transfers

The transfer between funds in the prior accounting period reflects a balance transferred from unrestricted reserves to cover all excess expenditure which has not been satisfied by the restricted funds allocated.

Page 17

The Rock - Currock Youth Project

Notes to the Financial Statements for the Year Ended 31 May 2022

......... continued

18 Net assets by fund

	Unrestricted			Restricted		Total Funds			Total Funds
	Funds			Funds		2022			2021
	£			£		£			£
Tangible assets	2,526			-		2,526			3,388
Current assets	59,484			32,278		91,762			108,148
Creditors: Amounts falling due within one year	(1,588)			-		(1,588)			(2,029)
Net assets	60,422			32,278		92,700			109,507
rior period
	Unrestricted			Restricted		Total Funds			Total Funds
	Funds			Funds		2020			2019
	£			£		£			£
Tangible assets	3,388			-		3,388			4,550
Current assets	61,380			46,768		108,148			98,991
Creditors: Amounts falling due within one year	(2,029)			-		(2,029)			(2,323)
Net assets	62,739			46,768		109,507			101,218

Prior period

Page 18