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2022-12-31-accounts

Our Ref: LPG/HC/BS/P180

STRICTLY PRIVATE & CONFIDENTIAL

Ms J K Green Promise Inclusion Limited Waterford House Erftstadt Court Denmark Street Wokingham RG40 2YF

21 June 2023

Dear Jennie

Promise Inclusion Limited Financial year ended 31 December 2022

We have completed the independent review of the accounts for the financial year ended 31 December 2022.

We are satisfied the accounts agree to the underlying bookkeeping records, comply with the Companies Act 2006 and SORP (Charities), and there are no matters to bring to the trustees in relation to the financial affairs of the Charity.

I enclose the final draft of the accounts for presentation to the trustees for their approval. I also enclose my firm’s draft representation letter for the trustees to consider and sign off when approving the accounts.

If the accounts are approved as drafted, please follow the prompt to electronically sign and date the accounts. On receipt I can issue the examiner’s report, file accounts at Companies House, and return a certified set of the accounts for your records.

I trust the above is in order but if you have any questions, please call.

Yours sincerely L P Gardner Partner

Promise Inclusion Limited Waterford House Erftstadt Court Denmark Street Wokingham RG40 2YF

Vale & West Victoria House 26 Queen Victoria Street Reading RG1 1TG

Dear Sirs

During the course of your independent examination of the financial statements of the charity for the year ended 31 December 2022, the following representations were made to you by management and trustees.

  1. We have fulfilled our responsibilities as trustees under the Companies Act 2006 and Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework, that give a true and fair view and for making accurate representations to you as our independent examiner and for the financial statements which you have prepared on our behalf for the charity.

  2. We confirm that all accounting records have been made available to you for the purpose of your independent examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you. We have given you unrestricted access to persons within the charity in order to obtain evidence and have provided any additional information that you have requested for the purposes of your examination.

  3. We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.

  4. We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the independent examiner and accounted for and disclosed in accordance with the applicable financial reporting framework.

  5. We confirm that there had been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.

  6. We confirm that we are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or

significantly influences the charity or vice versa and as a result will include trustees, other key management, close family and other business interests of the previous. We confirm that the related party relationships and transactions set out below are a complete list of such relationships and transactions and that we are not aware of any further related parties or transactions.

Party Relationship Nature of transaction
K Regan Daughter of a trustee Remuneration for
services rendered
D Bradlaw Son of a trustee Remuneration for
services rendered

  1. We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.

  2. We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for trustees, nor to guarantee nor provide security for such matters.

  3. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.

  4. We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity’s ability to conduct its activities.

  5. We acknowledge our responsibility for the design and implementation of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our own risk assessment that the financial statements may be misstated as a result of fraud.

  6. We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former trustees, employees, regulators or others.

  7. We confirm that, having considered our expectations and intentions for the next 12 months and the availability of unrestricted reserves, the charity is a going concern.

  8. We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been

notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.

  1. We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.

  2. We acknowledge our legal responsibilities regarding disclosure of information to you as independent examiners and confirm that:

  3. so far as each trustee is aware, there is no relevant audit information of which you as independent examiners are unaware; and

  4. each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that you are aware of that information.

We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate of supporting documentation) sufficient to satisfy us that we can properly make each of the above representations to you and that to the best of our knowledge and belief they accurately reflect the representations made to you by the trustees during the course of your audit.

Yours faithfully

Jennie Green (Jun 21, 2023 16:29 GMT+1)

Signed on behalf of the board of trustees:

Date.................................................................. 21/06/2023

REGISTERED COMPANY NUMBER: 06407883 (England and Wales) REGISTERED CHARITY NUMBER: 1122662

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

PROMISE INCLUSION LIMITED

Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

PROMISE INCLUSION LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 19
Detailed Statement of Financial Activities 20 to 21

PROMISE INCLUSION LIMITED (REGISTERED NUMBER: 06407883)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The relief of people with a learning disability and/or associated disabilities in particular by the provision of help and support for them and their families, dependants and carers.

To provide or assist in the provision of facilities for the recreation or other leisure time occupation for people who need thereof by reason of learning disability with the object of improving their conditions of life.

Significant activities

Organising and managing various projects, events and activities designed to achieve the above objectives.

Public benefit

As a small charity, below the Charity Act's audit threshold, the trustees' report focuses on the main activities undertaken by the charity to further its charitable purposes for the public benefit. The Objectives and Activities section provides a summary of the activities which have all been undertaken for the public benefit. Although the charity is restricted to its geographic area of Wokingham, Bracknell and their surrounding districts, it is designed to provide support to people with a learning disability and their families, dependants and carers, its support and activities are open to all without further restriction. Any fees charged to members and participants are at market rate, as we do now make more than a nominal charge for some activities.

Volunteers

The charity relies on voluntary help for a variety of tasks. This includes specific tasks on a regular basis such as The Trustees and the people who help or run our clubs and activities,as well as those who update the website or undertake one-off fundraising challenges. On an ad hoc basis volunteers help with office tasks such as: stuffing envelopes, data entry, making tea, helping at fundraising events, sorting out tombola items and doing tin shakes.

STRATEGIC REPORT

Achievement and performance

Charitable activities

The charity continues to run a number of successful events and activities within the Wokingham, Bracknell and their surrounding districts including family liaison work, activity clubs for children and adults, events and outings for carers and families of children and adults with learning disabilities and other charitable activities. During 2022 the charity was able to resume all its in-person activities and services with the option of online participation, if required or necessary.

Page 1

PROMISE INCLUSION LIMITED (REGISTERED NUMBER: 06407883)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

STRATEGIC REPORT Financial review

Financial position

Post-Covid grant funding continued to be harder to obtain during the year as more charities are targeting the funding available. However, we achieved an overall income increase of £25k over Yr2021 with a small deficit of £8k for the year.

Providing adequate funding for the charity's many services remains a very considerable challenge and presents the greatest risk to the charity's continued survival in the long term.

The charity is dependent upon various grants, in particular funding from Wokingham Borough Council and Children in Need. Funding from Wokingham Borough Council for a Family Liaison and Carers Service has been agreed until 31 March 2025 and we have recently been informed that we have been successful in another tender for services in Wokingham.

The charity continues to seek funding from a variety of sources to maintain its success in future projects and is focussed on securing longer-term funding to maintain stability, for example at the end of Yr2021 the charity was successful in being awarded a 2 year unrestricted grant from the Lloyds Foundation for the years 2022 and 2023.

Reserves policy

The trustees regularly review the reserves policies to ensure that they are at an appropriate level. In particular cash is maintained at a level to support the short and medium term needs of the charity. Currently the trustees aim to keep free reserves at a level that will cover between three and six months of costs.

The charity has total reserves of £129,971 including £117 of functional assets and £74,424 for restricted purposes, leaving £55,430 of free reserves. Of this, £26,084 has been set aside for designated purposes, with the remaining £29,347 available for general use. This is in line with the trustees’ reserves policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Promise Inclusion Limited is a company limited by guarantee governed by its Memorandum and Articles dated 24 October 2007. It is registered as a charity with the Charity Commission.

Recruitment and appointment of new trustees

As set out in the Articles of Association the chair of the trustees is nominated by the executive committee. Nominations for the election to the executive committee are considered and voted upon at the Annual General Meeting. The maximum number of members of the executive shall be no more than twelve.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06407883 (England and Wales)

Page 2

PROMISE INCLUSION LIMITED (REGISTERED NUMBER: 06407883)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Registered Charity number

1122662

Registered office

Waterford House Erftstadt Court Denmark Street Wokingham Berkshire RG40 2YF

Trustees

J E Ward (Chairman) P Regan (resigned 11.7.22) T M Bradlaw J K Green (Treasurer) P D Lowery C Laskin J Warrick

Independent Examiner

L P Gardner, FCA Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 22/06/2023

JE Ward JE Ward (Jun 22, 2023 09:38 GMT+1) ~~................................~~ .................................... J E Ward - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PROMISE INCLUSION LIMITED

Independent examiner's report to the trustees of Promise Inclusion Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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.

L P Gardner, FCA

Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Date: .............................................22/06/2023

Page 4

PROMISE INCLUSION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
fund
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
75,467
Charitable activities
4
Charitable activities
2,810
Investment income
3
569
Total
78,846
EXPENDITURE ON
Charitable activities
5
Charitable activities
81,112
NET
INCOME/(EXPENDITURE)
(2,266)
Transfers between funds
14
-
Net movement in funds
(2,266)
RECONCILIATION OF
FUNDS
Total funds brought forward
31,729
TOTAL FUNDS CARRIED
FORWARD
29,463		 Designated
fund
£
-
-
-
-
-
-
(11,669)
(11,669)
37,753
26,084		 Restricted
fund
£
79,301
11,223
-
90,524
96,599
(6,075)
11,669
5,594
68,829
74,423		 31.12.22
31.12.21
Total
Total
funds
funds
£
£
154,768
134,084
14,033
9,850
569
528
169,370
144,462
177,711
171,073
(8,341)
(26,611)
-
-
(8,341)
(26,611)
138,311
164,922
129,970
138,311

The notes form part of these financial statements

Page 5

PROMISE INCLUSION LIMITED (REGISTERED NUMBER: 06407883)

BALANCE SHEET 31 DECEMBER 2022

Unrestricted
Designated
Restricted
fund
fund
fund
Notes
£
£
£
FIXED ASSETS
Tangible assets
11
117
-
-
CURRENT ASSETS
Debtors: amounts falling due
within one year
12
23,088
-
1,324
Cash at bank and in hand
49,521
26,084
86,039
72,609
26,084
87,363
CREDITORS
Amounts falling due within
one year
13
(43,263)
-
(12,940)
NET CURRENT ASSETS
29,346
26,084
74,423
TOTAL ASSETS LESS
CURRENT LIABILITIES
29,463
26,084
74,423
NET ASSETS
29,463
26,084
74,423
FUNDS
14
Unrestricted funds:
General fund
Designated fund
Restricted funds
TOTAL FUNDS		 31.12.22
Total
funds
£
117
24,412
161,644
186,056
(56,203)
129,853
129,970
129,970
29,463
26,084
55,547
74,423
129,970		 31.12.21
Total
funds
£
333
10,572
207,425
217,997
(80,019)
137,978
138,311
138,311
31,729
37,753
69,482
68,829
138,311

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 6

PROMISE INCLUSION LIMITED (REGISTERED NUMBER: 06407883)

BALANCE SHEET - continued 31 DECEMBER 2022

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 21/06/2023

Jennie Green (Jun 21, 2023 16:29 GMT+1) ~~.....................................~~ ........ J K Green - Trustee

The notes form part of these financial statements

Page 7

PROMISE INCLUSION LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.12.22
£
(46,350)
(46,350)
-
569
569
(45,781)
207,425
161,644		 31.12.21
£
25,062
25,062
(104)
528
424
25,486
181,939
207,425

The notes form part of these financial statements

Page 8

PROMISE INCLUSION LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
31.12.22 31.12.21
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (8,341) (26,611)
Adjustments for:
Depreciation charges 216 204
Interest received (569) (528)
Increase in debtors (13,840) (961)
(Decrease)/increase in creditors (23,816) 52,958
Net cash (used in)/provided by operations (46,350) 25,062
ANALYSIS OF CHANGES IN NET FUNDS
Net cash At 1.1.22
£		 Cash flow
£		 At 31.12.22
£
Cash at bank and in hand 207,425 (45,781) 161,644
207,425 (45,781) 161,644
Total 207,425 (45,781) 161,644

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 9

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - Straight line over 5 years Computer equipment - Straight line over 3 years

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds, incorporating the general fund and the designated fund, can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 10

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES - continued

Going concern

The charity reported a cash outflow of £45,781 in the year. The trustees have considered the uncertainties in relation to the charity's future funding (set out in the trustees' report) and consider that there is sufficient funding in place for the next year to enable the accounts to be prepared on a going concern basis.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Grants
Subscriptions
Sponsorship income
Grants received, included in the above, are as follows:		 31.12.22
£
16,246
134,177
4,345
-
154,768		 31.12.21
£
25,111
105,655
3,188
130
134,084
31.12.22 31.12.21
£ £
Wokingham Borough Council
Unrestricted		 25,716 22,146
Bracknell Forest Borough Council
Unrestricted		 4,266 -
Lloyds Bank Foundation
Unrestricted		 27,250 -
Royal Mencap Society
Unrestricted (for digital equipment)		 2,708 2,700
BBC Children In Need
Unrestricted (for children)		 500 -
Wokingham Borough Council
Restricted - Autism Training		 - 5,000
Wokingham Borough Council
Restricted - Family Liaison & Carers		 26,093 27,797
Garfield Weston
Restricted - Family Liaison & Carers		 8,750 -
Bracknell Forest Borough Council
Restricted - Family Liaison & Carers		 9,854 -
Berkshire Community Fund
Restricted - Family Liaison & Carers		 - 5,000
National Lottery Community Fund
Restricted - Family Liaison & Carers		 - 7,081
Woodley Town Council
Restricted - Children		 - 250
Berkshire Community Fund
Restricted - Children		 3,336 -
BBC Children In Need
Restricted - Children		 19,838 19,656
HMRC - Furlough Scheme
Restricted - Children		 - 1,112
National Grid
Restricted - Adults		 5,000 1,667
Royal Mencap Society
Restricted - Adults		 886 1,732
Wokingham Town Council
Restricted - Adults		 - 1,000
LocalGiving - Little Magic Grant
Restricted - Adults		 - 500
HMRC - Furlough Scheme
Restricted - Adults		 - 3,331
Lloyds Bank Foundation
Restricted - Fundraiser Post		 - 6,683
134,177 105,655

continued...

Page 11

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. DONATIONS AND LEGACIES - continued

The charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

3. INVESTMENT INCOME

Bank interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fundraising activities
Charitable activities
Theatre and other outings
Charitable activities
Fees for club activities
Charitable activities
5.
CHARITABLE ACTIVITIES COSTS
Charitable activities
6.
SUPPORT COSTS
Charitable activities		 Direct
Costs
£
174,861		 31.12.22
31.12.21
£
£
569
528
31.12.22
31.12.21
£
£
2,628
4,457
994
959
10,411
4,434
14,033
9,850
Support
costs (see
note 6)
Totals
£
£
2,850
177,711
Governance
costs
£
2,850

continued...

Page 12

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.22 31.12.21
£ £
Depreciation - owned assets 216 204

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities		 31.12.22
£
131,524
1,650
4,844
138,018
31.12.22
25		 31.12.21
£
127,301
1,522
4,637
133,460
31.12.21
22

No employees received emoluments in excess of £60,000.

continued...

Page 13

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Designated
Restricted
fund
fund
fund
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
32,925
-
101,159
Charitable activities
Charitable activities
2,787
-
7,063
Investment income
528
-
-
Total
36,240
-
108,222
EXPENDITURE ON
Charitable activities
Charitable activities
64,272
-
106,801
NET INCOME/(EXPENDITURE)
(28,032)
-
1,421
Transfers between funds
12,500
263
(12,763)
Net movement in funds
(15,532)
263
(11,342)
RECONCILIATION OF FUNDS
Total funds brought forward
47,261
37,490
80,171
TOTAL FUNDS CARRIED FORWARD
31,729
37,753
68,829		 Total
funds
£
134,084
9,850
528
144,462
171,073
(26,611)
-
(26,611)
164,922
138,311

continued...

Page 14

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

11. TANGIBLE FIXED ASSETS

11. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£ £ £
COST
At 1 January 2022 and 31 December 2022 2,284 4,774 7,058
DEPRECIATION
At 1 January 2022 2,284 4,441 6,725
Charge for year - 216 216
At 31 December 2022 2,284 4,657 6,941
NET BOOK VALUE
At 31 December 2022 - 117 117
At 31 December 2021 - 333 333
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Debtors 31.12.22
£
16,146		 31.12.21
£
781
Other debtors 195 4
Prepayments and accrued income 8,071 9,787
24,412 10,572

continued...

Page 15

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22 31.12.21
£ £
Creditors 982 586
Social security and other taxes 955 1,373
Other creditors 973 1,517
Accruals 4,231 4,275
Deferred income 49,062 72,268
56,203 80,019

Deferred income

Deferred income comprises grant funding and membership fees received in advance of the next year.

14. MOVEMENT IN FUNDS

At 1.1.22
£
Unrestricted funds
General fund
31,729
Designated fund
37,753
69,482
Restricted funds
Restricted fund
68,829
TOTAL FUNDS
138,311
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Net
movement
in funds
£
(2,266)
-
(2,266)
(6,075)
(8,341)
Incoming
resources
£
78,846
90,524
169,370		 Transfers
between
At
funds
31.12.22
£
£
-
29,463
(11,669)
26,084
(11,669)
55,547
11,669
74,423
-
129,970
Resources
Movement
expended
in funds
£
£
(81,112)
(2,266)
(96,599)
(6,075)
(177,711)
(8,341)

continued...

Page 16

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.1.21
in funds
£
£
Unrestricted funds
General fund
47,261
(28,032)
Designated fund
37,490
-
84,751
(28,032)
Restricted funds
Restricted fund
80,171
1,421
TOTAL FUNDS
164,922
(26,611)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
36,240
Restricted funds
Restricted fund
108,222
TOTAL FUNDS
144,462		 Transfers
between
At
funds
31.12.21
£
£
12,500
31,729
263
37,753
12,763
69,482
(12,763)
68,829
-
138,311
Resources
Movement
expended
in funds
£
£
(64,272)
(28,032)
(106,801)
1,421
(171,073)
(26,611)

continued...

Page 17

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1.1.21
£
47,261
37,490
84,751
80,171
164,922		 Net
movement
in funds
£
(30,298)
-
(30,298)
(4,654)
(34,952)		 Transfers
between
funds
£
12,500
(11,406)
1,094
(1,094)
-		 At
31.12.22
£
29,463
26,084
55,547
74,423
129,970

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
115,086
198,746
313,832		 Resources
Movement
expended
in funds
£
£
(145,384)
(30,298)
(203,400)
(4,654)
(348,784)
(34,952)

Description, nature and purpose of funds

Unrestricted funds:

General fund The ‘free reserves’ after allowing for all designated funds. Designated fund Designated funds include funds in relation to historic fundraising events and a contingency fund set aside to cover costs that would arise in the event that the Charity were to close.

Restricted funds:

Siblings fund

continued...

Page 18

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

14. MOVEMENT IN FUNDS - continued

Wokingham Carers Respite Activities fund Wokingham Family Liaison Worker - Adults fund Wokingham Family Liaison Worker - Children fund Bracknell Family Liaison Worker - Transition fund Bracknell Family Liaison Worker - Adults fund Bracknell Carers Respite Activities fund Bracknell Gateway fund Wokingham Youth Club fund Bracknell Social Group fund Wokingham Paul's Karaoke fund Wokingham At the Acorn fund Special Project fund Fundraiser Post fund

Transfers between funds

During the year £3,331 (2021: £3,900) was transferred from restricted funds to the designated fund. This transfer relates to agreed contributions towards core costs.

A transfer was also made from the designated fund (£15,000) to restricted funds. This related to agreed contributions to cover a shortfall in grant funding.

In 2021 transfers were made from the designated fund (£3,637) and restricted fund (£8,863) to the unrestricted fund totalling £12,500. These related to agreed contributions to core costs in respect of additional costs incurred as a result of the coronavirus pandemic.

15. RELATED PARTY DISCLOSURES

The daughter of a Trustee, Pat Regan, received £1,463 during the year for services rendered (2021: £1,396).

The son of a Trustee, Tracy Bradlaw, received £1,107 during the year for services rendered (2021: £1,020).

Page 19

PROMISE INCLUSION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 10,682 5,564 16,246 25,111
Grants 60,440 73,737 134,177 105,655
Subscriptions 4,345 - 4,345 3,188
Sponsorship income - - - 130
Investment income 75,467 79,301 154,768 134,084
Bank interest 569 - 569 528
Charitable activities
Fundraising activities 2,504 124 2,628 4,457
Theatre and other outings 306 688 994 959
Fees for club activities - 10,411 10,411 4,434
2,810 11,223 14,033 9,850
Total incoming resources 78,846 90,524 169,370 144,462
EXPENDITURE
Charitable activities
Personnel costs 50,095 81,429 131,524 127,301
Social security 1,193 457 1,650 1,522
Pensions 3,236 1,608 4,844 4,637
Insurance 3,135 - 3,135 2,829
Telephone 877 2,274 3,151 3,827
Postage and stationery 2,970 (40) 2,930 3,415
Sundries 223 4 227 759
Other staff costs 40 304 344 240
Training and recruitment 7 1,336 1,343 779
Travelling 145 650 795 682
Theatre and other outings - 3,240 3,240 4,383
Carried forward 61,921 91,262 153,183 150,374

This page does not form part of the statutory financial statements

Page 20

PROMISE INCLUSION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Charitable activities
Brought forward 61,921 91,262 153,183 150,374
Club activity costs - 463 463 884
Refreshments 656 635 1,291 480
Hall hire and AGM costs 253 3,813 4,066 1,590
Rent and service charges 7,106 - 7,106 7,200
Repairs and renewals 4,862 - 4,862 2,663
Fundraising costs 386 - 386 216
Professional fees 2,673 177 2,850 2,507
Bank charges 64 - 64 32
Marketing - - - 605
Computer software 125 249 374 518
Depreciation of tangible fixed assets 216 - 216 204
Support costs 78,262 96,599 174,861 167,273
Governance costs
Accountancy fees 2,850 - 2,850 3,800
Total resources expended 81,112 96,599 177,711 171,073
Net (expenditure)/income (2,266) (6,075) (8,341) (26,611)

This page does not form part of the statutory financial statements

Page 21

2022 Financial Accounts Approval - Promise Inclusion Limited

Final Audit Report

2023-06-22

Created: 2023-06-21 By: Beth Smith (bsmith@valewest.com) Status: Signed Transaction ID: CBJCHBCAABAAQuRoj4j4CjPiTg-WlzQtHYQq4V90_wlE

"2022 Financial Accounts Approval - Promise Inclusion Limited" History

2023-06-21 - 2:48:14 PM GMT

Document emailed to jenniegreen@hotmail.co.uk for signature

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Signer jenniegreen@hotmail.co.uk entered name at signing as Jennie Green

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Agreement completed.

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