2022-03-31-accounts - Active Community Trust Ltd

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ACTIVE COMMUNITY TRUST LIMITED REGISTERED CHARITY NUMBER 1124267

REGISTERED IN ENGLAND AND WALES UNDER COMPANY NUMBER 6489622

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

TINGLE ASHMORE LTD

CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS SHEFFIELD

ACTIVE COMMUNITY TRUST LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

INDEX

	Page
Trustees' annual report	1-3
Independent examiner's report	4
Statement of financial activities and income and expenditure account	5
Balance sheet	6
Notes to the financial statements	7-13

ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

TRUSTEES' ANNUAL REPORT

The trustees present their report and the unaudited financial statements for the year ended 31st March 2022, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

Objectives and activities for the public benefit

The charity's objectives are as follows:

Advance the education and development of children under 5 of families living, training or working in the Darnall area of Sheffield;
Provide family support and training opportunities within the Darnall area of Sheffield;
To develop equal opportunity and non-discriminatory policies and practices;
To work with statutory and local groups to support children and families to develop to their full potential;
To raise funds and support charitable purposes connected to the Nursery or further its aims.

Active Community Trust Limited is situated in a multi-cultural inner city ward recognised as one of the 30% most deprived in Britain. The community have low levels of qualifications and a high need for adult education and training opportunities. The charity helps remove the barrier of lack of childcare by providing quality appropriate day-care that reflects the need to support parents into training and work. The charity provides subsidised childcare via government tax and grant programmes for parents while in education, training and work. The charity works with Sheffield City Council to identify children and families who require additional support, and provide early intervention activities.

The trustees consider that they have complied with the duty as set out in section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.

Achievements and performance

This year we returned to normal nursery service delivery as we moved beyond the Covid restrictions that had been in place since March 2020. With the addition of one new member of the management committee, we have retained the same trustees and staff management team. Despite the continued challenges both we as an organisation and our families have faced we have remained consistent to our organisational aims and objectives. During this year there has been an overwhelming demand for children with special educational needs and our waiting list for all nursery places is significant. Additional support staff have been recruited to enable the nursery to consistently meet the high adult: child ratios determined by the needs of the children attending. This year, as a result of the changing community needs, trustees have begun exploring the possibility of expanding to other premises to accommodate the high demand for specialist provision. We hope to explore this possibility further in the next year and to develop more concrete plans.

Our parent partnership program has been well received by families. There was a 100% take up of the Connect Home to Nursery Link Project activities. Feedback from parents has been very positive and there are plans to develop this further in the coming year.

The nursery was able to access support from government Covid grants to enable us to continue to operate and provide a service to children and families throughout the pandemic. By the end of the year we were operating a more normal service and 32 children were able to access education, care and support.

Page 1

ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

TRUSTEES' ANNUAL REPORT

Financial review

The charitable company's principal sources of funding continued to be from Sheffield City Council Free Early Learning (FEL) grants and childcare fees. Furlough and other covid grants were lower following the relaxation of the covid restrictions. Total income was around £30k lower than last year, at £358k. Total expenditure was comparable to last year, at £364k. There was net expenditure for the year of £6k which comprises a surplus on unrestricted funds of £5k offset by a reduction in restricted fund balances of £11k.

The most notable change on the balance sheet is the reduction in long term creditors following the commencement of repayments of the bounce back loan.

Reserves policy

It is the policy of the charitable company to hold general funds at a level which equates to 6 months expenditure. General funds amounted to 8 months of expenditure at the year end and have met the policy requirement.

Structure, governance and management Governing document

Active Community Trust Limited is a charitable company incorporated under a trust deed on 31st January 2008, as amended by special resolution on 23rd March 2015. The liability of each member is limited by guarantee to £10.

Appointment of trustees

Trustees, who are also directors of the charitable company, are appointed by the Management Committee to serve until the next AGM, at which they can stand for re-election.

Risk management

The trustees actively review the major risks which the charity faces and believe that the annual review of controls over key financial systems will sufficiently mitigate the significant risks.

Organisational structure

The Management Committee are responsible for the management of Active Community Trust Limited and in providing facilities and raising funds to enable the Nursery to meet the aims of the organisation. Day to day responsibility for managing the Nursery is delegated to the Nursery Manager, Claire Ward, within a robust reporting system. The Nursery Manager is responsible for the quality of service to the children and families and for the support and development of staff members.

Reference and administrative details Trustees and directors

Sally Pearse - Chair Kabier Aslam - Secretary Amanda Cook Shelly Pratt - appointed Jul-22

Key management personnel Nursery Manager Deputy Manager Business Support Manager Nursery address

Claire Ward Katy Lindenstruth Cheryl Hammonds

Darnall Children's Centre, 563 Staniforth Road, Sheffield S9 4RA

Independent examiner

Tingle Ashmore Ltd

Chartered Accountants and Registered Auditors Enterprise House, Broadfield Court, Sheffield S8 0XF

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ACTIVE COMMUNITY TRUST LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

TRUSTEES' ANNUAL REPORT

Bankers Virgin Money, 157 Bradfield Road, Sheffield, S6 2LY Registered charity number 1124267 Registered company number 6489622

Trustees' responsibilities

The trustees (who are also directors of Active Community Trust Limited for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources of the charity 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 2015 (FRS 102);
Make judgments and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

The report of the trustees was approved by the board on 22nd December 2022 and signed on its behalf by

…………………………………………… Sally Pearse - Chair

Page 3

ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

ACTIVE COMMUNITY TRUST LIMITED

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31st March 2022 which are set out on pages 5 to 13.

Responsibilities and basis of report

As the charity 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 company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

………………………………. Kevan Tingle FCA Tingle Ashmore Ltd Chartered Accountants and Registered Auditors Enterprise House Broadfield Court Sheffield S8 0XF

Dated : 22nd December 2022

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

	Notes	Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
				2022	2021
		£	£	£	£
Income from:
Donations		-	-	-	1,316
Government business interruption	payment	1,250	-	1,250	-
Charitable activities	2	321,729	22,508	344,237	348,699
Other trading activities
Fundraising		2,948	-	2,948	1,055
Furlough and other covid grants		8,980	-	8,980	37,872
Investment income
Bank interest		415	-	415	346
		_	______	_	_
Total income		335,322	22,508	357,830	389,288
		_	______	_	_
Expenditure on:
Raising funds:
Fundraising costs		3,174	-	3,174	558
Charitable activities:	3	327,230	33,533	360,763	363,430
		_	______	_	_
Total expenditure		330,404	33,533	363,937	363,988
		_	______	_	_
Net income/(expenditure)
for the year	4	4,918	(11,025)	(6,107)	25,300
Total funds at 1st April 2021		300,570	183,308	483,878	458,578
		_	_	_	_
Total funds at 31st March 2022		£305,488	£172,283	£477,771	£483,878
		_ _	_ _	_ _	_ _

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

BALANCE SHEET

	Notes		2022	2021
		£	£	£
Fixed assets
Tangible assets	5		229,386	240,957
				_
Current assets
Debtors	6	9,336		9,325
Cash at bank and in hand		291,986		296,817
		_		_
		301,322		306,142
Creditors - amounts falling due within one year	7	12,566		14,054
		_		_
Net current assets			288,756	292,088
			_	_
Total assets less current liabilities			518,142	533,045
Creditors - amounts falling due
after more than one year	8		(40,371)	(49,167)
			_	_
Net assets			£477,771	£483,878
			_	_
			_	_
The funds of the charity
Unrestricted funds	9		305,488	300,570
Restricted funds	11		172,283	183,308
			_	_
Total funds	10		£477,771	£483,878
			_ _	_ _

For the year ending 31st March 2022 the company was entitled to exemption from audit under S477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with provisions applicable to companies subject to the small companies regime.

Approved by the management committee on 22nd December 2022 and signed on its behalf by

………………………………….... Sally Pearse - Chair

………………………………….... Amanda Cook - Trustee

Company number : 6489622

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

The following is a summary of the more important accounting policies used by the charity.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The charity has taken advantage of the disclosure exemption from the requirement to prepare a cash flow statement, as permitted by the Charity SORP (FRS 102).

Active Community Trust Limited meets the definition of a public benefit entity under FRS 102.

The following is a summary of the more important accounting policies used by the charity.

Going concern

The financial statements have been prepared on the going concern basis as the trustees believe that there are no material uncertainties.

Income

All income is accounted for as soon as the charity has entitlement to the income, there is certainty of receipt and the amount can be measured.

Income is only deferred when:

The donor specifies that the grant or donation must only be used in future accounting periods; or
The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Grants receivable

Grants in respect of revenue items are written off to the income and expenditure account in the period to which they relate. Grants in respect of specific projects are credited to a restricted fund, against which relevant expenditure is charged.

Grants relating to fixed assets are credited to a restricted fund on the income and expenditure account from which amounts are released to revenue over the same period as the depreciation period of the relevant assets.

Fees earned

Fees are credited to the period in which they are receivable.

Donations and fundraising

Donations and fundraising are accounted for on a receivable basis.

Resources expended

Expenditure is recognised when a liability is incurred and is accounted for on an accruals basis.

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

NOTES TO THE FINANCIAL STATEMENTS

31ST MARCH 2022

Costs of raising funds

The costs of raising funds consist of expenditure relating to fundraising.

Charitable activities

The expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and governance costs incurred in meeting the constitutional and statutory requirements of the charity.

Value added tax

The charity is not registered for VAT. In these financial statements, expenditure is shown inclusive of VAT, where appropriate.

Tangible fixed assets and depreciation

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives as follows:

Improvements to landlord's property over the remaining lease term - Equipment 25% per annum reducing balance

Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered.

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Operating leases

All leases are considered to be 'operating leases' and the relevant annual rentals are charged wholly to the Statement of Financial Activities.

Fund accounting

Funds held by the charity are either:-

Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds - these have been set up to identify those unrestricted funds that are not general funds, being those funds earmarked by the charity's trustees to be used for a particular purpose in the future or fixed assets purchased using the charity's own reserves.
Restricted funds - these are funds that can only be used for particular restricted purposes, imposed by the donor or through the terms of an appeal.

Legal status

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

Pensions

The charity operates a defined contribution pension scheme for its employees. The scheme funds are administered by trustees and are independent of the charity's finances.

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
				2022	2021
		£	£	£	£
2	Income from charitable activities:
	Childcare fees receivable	16,462	-	16,462	7,253
	Grants receivable
	Sheffield City Council
	Free Early Learning	305,267	-	305,267	327,588
	Special Needs grants	-	21,356	21,356	12,117
	Hallam Cash For Kids	-	500	500	-
	Defibrilator Fund	-	652	652	-
	In kind funding for
	telephone and broadband	-	-	-	1,691
	Hallam University - student support fees	-	-	-	50
		_	______	_	_
		£321,729	£22,508	£344,237	£348,699
		_	______	_	_
		_	______	_	_
3	Expenditure on charitable activities:
	Staff costs	270,193	21,356	291,549	298,068
	Staff training	712	-	712	1,403
	Food and refreshments	1,604	500	2,104	1,248
	Nursery equipment and consumables	14,353	442	14,795	14,185
	Subscriptions and software	2,711	-	2,711	2,606
	Repairs, cleaning and maintenance	3,456	-	3,456	4,278
	Insurance	1,880	-	1,880	2,069
	Rent, rates and utilities	18,129	-	18,129	16,830
	Printing, postage and stationery	3,012	-	3,012	3,170
	Sundry expenses	334	-	334	260
	Equipment leasing	797	-	797	1,070
	Legal and professional fees	4,550	-	4,550	2,585
	Payroll preparation	1,896	-	1,896	1,747
	Bank loan interest	1,329	-	1,329	-
	Bank charges	5	-	5	-
	Depreciation	336	11,235	11,571	11,871
	Governance costs:
	Independent examiner's remuneration	1,933	-	1,933	2,040
		_	______	_	_
		£327,230	£33,533	£360,763	£363,430
		_ _	__ ____	_ _	_ _

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

		2022	2021
		£	£
4	Net income/(expenditure) for the year is after charging:
	Independent examiner's remuneration	1,933	2,040
	Depreciation	11,571	11,871
	Salaries	267,758	274,023
	Employer's national insurance	14,363	13,446
	Employer's pension contributions	9,428	10,599
		_ _	_ _

The average number of employees during the year was 18 (2021 - 19), all were employed on charitable activities.

There were no employees with emoluments exceeding £60,000 in either year.

No remuneration was paid nor expenses reimbursed to trustees during either year.

Key management personnel comprise the Nursery Manager, Deputy Manager and Business Support Manager. Total employee benefits received by the key management personnel for the year is £98,186 (2021 - £93,910).

5 Tangible fixed assets

5	Tangible fixed assets
		Improvements	Equipment	Total
		to landlord's
		property
		£	£	£
	Cost
	As at 1st April 2021 and at 31st March 2022	266,714	19,308	286,022
		_	______	_
	Depreciation
	As at 1st April 2021	31,542	13,523	33,194
	Charge for the year	10,669	902	11,571
		______	______	______
	At 31st March 2022	42,211	14,425	56,636
		______	______	______
	Net book value
	At 31st March 2022	£224,503	£4,883	£229,386
		_	_____	_
		_	_____	_
			2022	2021
			£	£
6	Debtors
	Outstanding fees		820	942
	Tax and social security refundable		6,416	6,416
	Prepayments		2,100	1,967
			_____	_____
			£9,336	£9,325
			_ ___	_ ___

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

				2022	2021
				£	£
7	Creditors - amounts falling due within one year
	Bounce back loan			8,796	833
	Accrued expenses			3,770	13,221
				______	______
				£12,566	£14,054
				______	______
				______	______
8	Creditors - amounts falling due after more than	one year
	Bounce back loan			£40,371	£49,167
				______	______
				______	______
9	Statement of funds	Balance at			Balance at
		1st April	Movement in resources		31st March
		2021	Incoming	Outgoing	2022
		£	£	£	£
	Unrestricted funds	300,570	335,322	(330,404)	305,488
	Restricted funds	183,308	22,508	(33,533)	172,283
		_	_	_	_
		£483,878	£357,830	£(363,937)	£477,771
		_	_	_	_
		_	_	_	_
9a	Statement of funds - prior year	Balance at			Balance at
		1st April	Movement in resources		31st March
		2020	Incoming	Outgoing	2021
		£	£	£	£
	Unrestricted funds	263,646	375,430	(338,506)	300,570
	Restricted funds	194,932	13,858	(25,482)	183,308
		_	_	_	_
		£458,578	£389,288	£(363,988)	£483,878
		_	_	_	_
		_	_	_	_
10	Total funds
	Fund balances at 31st March 2022 are represented by:-
		General	Designated	Restricted	Total
		funds	funds	funds	funds
		£	£	£	£
	Tangible fixed assets	-	57,505	171,881	229,386
	Net current assets	288,756	-	-	288,756
	Creditors due after more than one year	(40,371)	-	-	(40,371)
		_	______	_	_
	Net assets	£248,385	£57,505	£171,881	£477,771
		_ _	__ ____	_ _	_ _

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ACTIVE COMMUNITY TRUST LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

10a Total funds - prior year

Fund balances at 31st March 2021 were represented by:-

	General	Designated	Restricted	Total
	funds	funds	funds	funds
	£	£	£	£
Tangible fixed assets	-	57,841	183,116	240,957
Net current assets	291,896	-	192	292,088
Creditors due after more than one year	(49,167)	-	-	(49,167)
	_	______	_	_
Net assets	£242,729	£57,841	£183,308	£483,878
	_ _	__ ____	_ _	_ _

11 Restricted funds

The year end restricted fund balance is made up as follows:

Sheffield City Council - Capital Grant 1	75,243
Sheffield City Council - Capital Grant 2	94,944
Camping pod/log cabin	1,694
Defibrilator Fund	402
	_
	£172,283
	_ _

Sheffield City Council - Capital grants to finance 75% of building costs.

Grant 1 is to finance alterations to the leasehold building to develop places for 2 year olds. Grant 2 is to help finance the building of a nursery and staff room.

Both grants are being written off over the 25 year period of the new lease. Defibrillator fund is funds for the purchase of a defibrillator.

12 Operating lease commitments

Land and buildings

The charitable company has a 25 year property lease which commenced on 1st April 2015 at an annual rent of £14,000. The landlord, Sheffield City Council, is foregoing its rent for the time being. The Council retains absolute discretion to start charging rent at any time in the future.

	2022	2021
	£	£
Office equipment
Total amount falling due:
Within 1 year	943	943
Within 2 to 5 years	2,462	3,405
	_ ___	_ ___

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ACTIVE COMMUNITY TRUST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

13 A detailed breakdown of the 2021 statement of financial activities between unrestricted and restricted funds is as follows:

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Income from:
Donations	1,316	-	1,316
Charitable activities	334,841	13,858	348,699
Other trading activities
Fundraising	1,055	-	1,055
Furlough and other covid grants	37,872	-	37,872
Investment income
Bank interest	346	-	346
	_	______	_
Total income	375,430	13,858	389,288
	_	______	_
Expenditure on:
Raising funds:
Fundraising costs	558	-	558
Charitable activities:	337,948	25,482	363,430
	_	______	_
Total expenditure	338,506	25,482	363,988
	_	______	_
Net income/(expenditure) for the year	£36,924	£(11,624)	£25,300
	__ ____	__ ____	__ ____

14 Related party transactions There were no related party transactions requiring disclosure in either year.

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