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← Promise Inclusion Limited

2023-12-31-accounts

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Our Ref: LPG/HC/EM/P180

STRICTLY PRIVATE & CONFIDENTIAL

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

23 May 2024

Dear Jennie

Promise Inclusion Limited Financial year ended 31 December 2023

We have completed the independent review of the accounts for the financial year ended 31 December 2023.

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

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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 2023

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 2023

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 18
Detailed Statement of Financial Activities 19 to 20

PROMISE INCLUSION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023. 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 has continued to run a number of successful events and activities within Wokingham and 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. The charity continued to offer in-person activities and services with the option of online participation, if required or necessary during 2023.

Page 1

PROMISE INCLUSION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRATEGIC REPORT

Financial review

Financial position

Grant funding continued to be harder to obtain in 2023 as more charities targeted the funding available and criteria became more stringent. Through a lot of hard work we managed to achieve a comparable revenue to that of 2022, however expenditure increased due to the impact of inflation and increases to the National Minimum Wage which resulted in a deficit for the year of £31,640.

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

The charity is dependent upon various grants and in particular funding from Wokingham Borough Council. Funding from Children in Need and the Lloyds Foundation ended in 2023, but we continue to have secure funding from Wokingham Borough Council for a Family Liaison and Carers Service which currently runs until 31 March 2025. During 2023 we secured further funding from Wokingham Borough Council becoming part of the Wokingham Carers Partnership which also runs until 31 March 2025. Both contracts have the option of further extensions. We have recently been successful in securing a grant from the Big Lottery which will fund two existing Family Liaison posts (one in Wokingham and one in Bracknell) and a new post in Bracknell.

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 ensure stability for the charity.

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 £98,330 including £1,707 of functional assets and £56,722 for restricted purposes, leaving £39,902 of free reserves. Of this, £10,921 has been set aside for designated purposes, with the remaining £28,981 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.

Page 2

PROMISE INCLUSION LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06407883 (England and Wales)

Registered Charity number

1122662

Registered office

Waterford House Erftstadt Court Denmark Street Wokingham Berkshire RG40 2YF

Trustees

S J Hall - Chair (appointed 22.6.23) T M Bradlaw J K Green - Treasurer E G Hyland (appointed 15.11.23) P D Lowery C Laskin (resigned 5.7.23) J E Ward (resigned 18.8.23) J Warrick (resigned 22.6.23)

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: May 23, 2024

S J Hall - Trustee

Susan Hall (May 23, 2024 12:09 GMT+1)...........................................................................

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 2023.

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.

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L P Gardner, FCA

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

23/05/2024 Date: .............................................

Page 4

PROMISE INCLUSION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Designated
fund
fund
Notes
£
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
72,077
-
Charitable activities
4
Charitable activities
1,694
-
Investment income
3
2,469
-
Total
76,240
-
EXPENDITURE ON
Charitable activities
5
Charitable activities
78,216
-
NET
INCOME/(EXPENDITURE)
(1,976)
-
Transfers between funds
14
3,200
(15,163)
Net movement in funds
1,224
(15,163)
RECONCILIATION OF
FUNDS
Total funds brought forward
29,463
26,084
TOTAL FUNDS CARRIED
FORWARD
30,687
10,921		 Restricted
fund
£
75,814
16,847
-
92,661
122,325
(29,664)
11,963
(17,701)
74,423
56,722		 31.12.23
31.12.22
Total
Total
funds
funds
£
£
147,891
154,768
18,541
14,033
2,469
569
168,901
169,370
200,541
177,711
(31,640)
(8,341)
-
-
(31,640)
(8,341)
129,970
138,311
98,330
129,970

The notes form part of these financial statements

Page 5

PROMISE INCLUSION LIMITED

BALANCE SHEET 31 DECEMBER 2023

Unrestricted
Designated
Restricted
fund
fund
fund
Notes
£
£
£
FIXED ASSETS
Tangible assets
11
1,707
-
-
CURRENT ASSETS
Debtors: amounts falling due
within one year
12
14,639
-
18,293
Cash at bank and in hand
29,837
10,921
63,211
44,476
10,921
81,504
CREDITORS
Amounts falling due within one
year
13
(15,496)
-
(24,782)
NET CURRENT ASSETS
28,980
10,921
56,722
TOTAL ASSETS LESS
CURRENT LIABILITIES
30,687
10,921
56,722
NET ASSETS
30,687
10,921
56,722
FUNDS
14
Unrestricted funds:
General fund
Designated fund
Restricted funds
TOTAL FUNDS		 31.12.23
Total
funds
£
1,707
32,932
103,969
136,901
(40,278)
96,623
98,330
98,330
30,687
10,921
41,608
56,722
98,330		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 6

PROMISE INCLUSION LIMITED

BALANCE SHEET - continued 31 DECEMBER 2023

The trustees acknowledge their responsibilities for

23/05/2024

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

Jennie Green (May 23, 2024 11:08 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 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
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		 31.12.23
£
(58,212)
(58,212)
(1,932)
2,469
537
(57,675)
161,644
103,969		 31.12.22
£
(46,350)
(46,350)
-
569
569
(45,781)
207,425
161,644

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 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.12.23 31.12.22
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (31,640) (8,341)
Adjustments for:
Depreciation charges 342 216
Interest received (2,469) (569)
Increase in debtors (8,520) (13,840)
Decrease in creditors (15,925) (23,816)
Net cash used in operations (58,212) (46,350)

2.

ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.1.23
£		 Cash flow
£		 At 31.12.23
£		 At 31.12.23
£
Cash at bank and in hand 161,644 (57,675) 103,969
161,644 (57,675) 103,969
Total 161,644 (57,675) 103,969

The notes form part of these financial statements

Page 9

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Going concern

The charity reported a cash outflow of £57,675 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.

continued...

Page 10

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Grants
Subscriptions
Sponsorship income
Grants received, included in the above, are as follows:		 31.12.23
£
7,404
134,645
4,285
1,557
147,891		 31.12.22
£
16,246
134,177
4,345
-
154,768
31.12.23 31.12.22
£ £
Wokingham Borough Council
Unrestricted		 33,385 25,716
Bracknell Forest Borough Council
Unrestricted		 1,200 4,266
Lloyds Bank Foundation
Unrestricted		 25,000 27,250
Wokingham United Charities
Unrestricted		 5,000 -
Royal Mencap Society
Unrestricted (for digital equipment)		 - 2,708
BBC Children In Need
Unrestricted (for children)		 - 500
Wokingham Borough Council
Restricted - Carer Support & Guidance		 22,689 -
Wokingham Borough Council
Restricted - Family Liaison & Carers		 26,793 26,093
Garfield Weston
Restricted - Family Liaison & Carers		 - 8,750
Bracknell Forest Borough Council
Restricted - Family Liaison & Carers		 - 9,854
Berkshire Community Fund
Restricted - Children		 4,999 3,336
BBC Children In Need
Restricted - Children		 9,996 19,838
Shanly Foundation
Restricted - Children		 2,250 -
National Grid
Restricted - Adults		 3,333 5,000
Royal Mencap Society
Restricted - Adults		 - 866
134,645 134,177

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.

continued...

Page 11

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Direct
Costs
£
197,727		 31.12.23
31.12.22
£
£
2,469
569
31.12.23
31.12.22
£
£
2,451
2,628
989
994
15,101
10,411
18,541
14,033
Support
costs (see
note 6)
Totals
£
£
2,814
200,541
Governance
costs
£
2,814
31.12.23
31.12.22
£
£
342
216

continued...

Page 12

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

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		 31.12.23
£
151,512
3,168
5,427
160,107
31.12.23
23		 31.12.22
£
131,524
1,650
4,844
138,018
31.12.22
25

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

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Designated
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
75,467
-
Charitable activities
Charitable activities
2,810
-
Investment income
569
-
Total
78,846
-
EXPENDITURE ON
Charitable activities
Charitable activities
81,112
-		 Restricted
fund
£
79,301
11,223
-
90,524
96,599		 Total
funds
£
154,768
14,033
569
169,370
177,711

continued...

Page 13

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Designated
Restricted
fund
fund
fund
£
£
£
NET INCOME/(EXPENDITURE)
(2,266)
-
(6,075)
Transfers between funds
-
(11,669)
11,669
Net movement in funds
(2,266)
(11,669)
5,594
RECONCILIATION OF FUNDS
Total funds brought forward
31,729
37,753
68,829
TOTAL FUNDS CARRIED FORWARD
29,463
26,084
74,423
11.
TANGIBLE FIXED ASSETS
Office
Computer
equipment
equipment
£
£
COST
At 1 January 2023
2,284
4,774
Additions
-
1,932
At 31 December 2023
2,284
6,706
DEPRECIATION
At 1 January 2023
2,284
4,657
Charge for year
-
342
At 31 December 2023
2,284
4,999
NET BOOK VALUE
At 31 December 2023
-
1,707
At 31 December 2022
-
117		 Total
funds
£
(8,341)
-
(8,341)
138,311
129,970
Totals
£
7,058
1,932
8,990
6,941
342
7,283
1,707
117

continued...

Page 14

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23
£
Debtors
26,953
Other debtors
6
Prepayments and accrued income
5,973
32,932
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
£
Creditors
751
Social security and other taxes
2,010
Other creditors
2,649
Accruals
4,859
Deferred income
30,009
40,278
Deferred income
Deferred income comprises grant funding and membership fees received in advance of the next year.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.23
in funds
funds
£
£
£
Unrestricted funds
General fund
29,463
(1,976)
3,200
Designated fund
26,084
-
(15,163)
55,547
(1,976)
(11,963)
Restricted funds
Restricted fund
74,423
(29,664)
11,963
TOTAL FUNDS
129,970
(31,640)
-		 31.12.22
£
16,146
195
8,071
24,412
31.12.22
£
982
955
973
4,231
49,062
56,203
At
31.12.23
£
30,687
10,921
41,608
56,722
98,330

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14. MOVEMENT IN FUNDS

continued...

Page 15

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Designated fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
76,240
92,661
168,901
Net
movement
At 1.1.22
in funds
£
£
31,729
(2,266)
37,753
-
69,482
(2,266)
68,829
(6,075)
138,311
(8,341)		 Resources
Movement
expended
in funds
£
£
(78,216)
(1,976)
(122,325)
(29,664)
(200,541)
(31,640)
Transfers
between
At
funds
31.12.22
£
£
-
29,463
(11,669)
26,084
(11,669)
55,547
11,669
74,423
-
129,970

continued...

Page 16

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
78,846
90,524
169,370		 Resources
Movement
expended
in funds
£
£
(81,112)
(2,266)
(96,599)
(6,075)
(177,711)
(8,341)

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 Wokingham Carers Respite Activities fund Wokingham Carers Support And Guidance 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

continued...

Page 17

PROMISE INCLUSION LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

14. MOVEMENT IN FUNDS - continued

Transfers between funds

During the year £3,137 (2022: £3,331) was transferred from restricted funds to the designated fund. This transfer relates to agreed contributions towards core costs.

A transfer of £15,100 was also made from the designated fund to restricted funds (2022: £15,000) and £3,200 from the designated fund to unrestricted funds. This related to agreed contributions to cover a shortfall in grant funding.

15. RELATED PARTY DISCLOSURES

The son of a Trustee, Tracy Bradlaw, received £1,266 during the year for services rendered (2022: £1,107).

Page 18

PROMISE INCLUSION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 3,207 4,197 7,404 16,246
Grants 64,585 70,060 134,645 134,177
Subscriptions 4,285 - 4,285 4,345
Sponsorship income - 1,557 1,557 -
Investment income 72,077 75,814 147,891 154,768
Bank interest 2,469 - 2,469 569
Charitable activities
Fundraising activities 1,686 765 2,451 2,628
Theatre and other outings 8 981 989 994
Fees for club activities - 15,101 15,101 10,411
1,694 16,847 18,541 14,033
Total incoming resources 76,240 92,661 168,901 169,370
EXPENDITURE
Charitable activities
Personnel costs 48,572 102,940 151,512 131,524
Social security 1,268 1,900 3,168 1,650
Pensions 3,572 1,855 5,427 4,844
Insurance 4,593 - 4,593 3,135
Telephone 658 2,289 2,947 3,151
Postage and stationery 1,657 2 1,659 2,930
Sundries 66 34 100 227
Other staff costs 76 418 494 344
Training and recruitment 286 1,543 1,829 1,343
Travelling (1,063) 778 (285) 795
Theatre and other outings - 4,113 4,113 3,240
Carried forward 59,685 115,872 175,557 153,183

This page does not form part of the statutory financial statements

Page 19

PROMISE INCLUSION LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Charitable activities
Brought forward 59,685 115,872 175,557 153,183
Club activity costs - 171 171 463
Refreshments 153 1,051 1,204 1,291
Hall hire and AGM costs 200 4,562 4,762 4,066
Rent and service charges 7,626 - 7,626 7,106
Repairs and renewals 3,634 477 4,111 4,862
Fundraising costs 324 - 324 386
Professional fees 2,576 192 2,768 2,850
Bank charges 61 - 61 64
Computer software 801 - 801 374
Depreciation of tangible fixed assets 342 - 342 216
Support costs 75,402 122,325 197,727 174,861
Governance costs
Accountancy fees 2,814 - 2,814 2,850
Total resources expended 78,216 122,325 200,541 177,711
Net (expenditure)/income (1,976) (29,664) (31,640) (8,341)

This page does not form part of the statutory financial statements

Page 20

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 2023, 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 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.

  9. We confirm that we are not aware of any matters of material significance that

should be reported to the Charity Commission.

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

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

  3. 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

Susan Hall (May 23, 2024 12:09 GMT+1)

Signed on behalf of the board of trustees:

23/05/2024 Date..................................................................

2023 Accounts – Promise Inclusion Limited

Final Audit Report

2024-05-23

Created: 2024-05-23 By: Elizabeth Mathias (emathias@valewest.com) Status: Signed Transaction ID: CBJCHBCAABAAFsuKQaWxvnm3qkijURV2_9YCCBTTgkg8

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