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← Building Futures East Limited

2023-09-30-accounts

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Charity registration number 1125555

Company registration number 06261491 (England and Wales)

BUILDING FUTURES EAST LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

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BUILDING FUTURES EAST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees B Shepherd OBE C Sayers H Woods-Waters (Appointed 10 February 2023) P Stoner (Appointed 24 March 2023) D Turnell (Appointed 24 March 2023) E Barron (Appointed 12 May 2023) E Callender (Appointed 12 May 2023) P Crabtree (Appointed 24 November 2023) K Mcfarlane (Appointed 24 November 2023) A Wright (Appointed 9 February 2024) Secretary H Holmes (Appointed 15/02/2023) A Woods-Waters (Resigned 15/02/2023) Charity number 1125555 Company number 06261491 Registered office Low Yard White Street Walker Newcastle upon Tyne NE6 3PJ Independent examiner Simon Brown BA ACA DChA Azets Audit Services Bulman House Regent Centre Gosforth Newcastle Upon Tyne NE3 3LS

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BUILDING FUTURES EAST LIMITED

CONTENTS

Page
Trustee's report 1 - 7
Statement of trustee's responsibilities 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Statement of financial position 12
Notes to the financial statements 13 - 27

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their annual report and financial statements for the year ended 30 September 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to the public benefit. A comprehensive and regularly updated set of policies and guidelines supporting the organisations responsibilities as charity, employer, training organisation and social enterprise have been formulated and published.

Delivery activities address the organisation's values, objectives and organisational targets and are underpinned by our policy and practice directives. Much of this information is placed in the public domain via our website. The organisation has also increased its use of social media platforms to communicate with its audience on a range of related issues.

The Trustees and Senior Management Team have previously agreed a set of organisational aims and objectives that carry us forward into 2024-25 as follows:

Strategies for achieving objectives

Strategic Aims:

We continue to adhere to the following primary and equally important organisational aims:

  1. Within a caring, understanding and tolerant environment, developing people through learning, skills development, personal capacity building and pastoral support.

  2. Strive to integrate the marginalised and vulnerable and those at times of transition through programmes that respect and respond to their specific needs and the wider community.

These are underpinned by the following additional aims:

a) To articulate and advance the social and economic case for investment in fragile places through practical programme design and implementation

b) To develop the capacity of the organisation and its people to facilitate the above aims

c) To develop Building Futures East as an exemplar organisation in community regeneration

What is clear is that the work undertaken across our teams operationally and, more specifically, strategically, during the course of this year 2022-23, provides the foundation for future advancement in:

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

This follows a pattern established in our early development around:

• The constant drive for quality improvement and maintaining the highest standards in delivery across all areas of service

• Tuned into opportunity, the reality of need as expressed by our communities and the creative ability to honestly and with integrity, connect the two.

The activities of the organisation undertaken during the course of the year and which are described within this document, evidence our progress against our aims and objectives and those points described above.

Fundraising disclosures

We have a clear strategy in relation to the funding of our employability, community regeneration and labour market programmes through a mix of grant aid, charitable support and contract work. During the course of the year, we continued to scope out as many potential new funders whose priority themes align with the work of our organisation. Work has been ongoing to strengthen internal capacity with respect to bid writing, enabling us to seek out and submit higher volumes of applications for new funding.

Our use of social media and varied digital crowdfunding platforms has continued to develop positively, creating opportunities and additional funding for the organisation as a direct result. A significant example of the power of such platforms to lever in funding was the successful crowdfunding campaign to raise funds for the conversion of a double decker bus into a greenhouse.

This strategy understands and responds to the fact that large scale and multi-year grants continue to be limited and highly competitive and our focus therefore, which has demonstrable success, has been to prepare applications on a smaller scale to a larger number of funders.

The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

This year saw further increases in inward referrals across all of our projects, many attributable to the continued rising costs of living which have been relentless and have had a disproportionately adverse effect upon our most deprived communities. Fuel and food poverty remain pivotal factors, however many of those we support face additional challenges including debt, sub-standard housing, problems accessing the welfare benefits they are entitled to, substance misuse, health inequalities and the effects of social isolation. Across the year it is estimated that our varied project interventions had direct and indirect positive impact upon over 5500 residents largely from Newcastle and North Tyneside. Of these, 534 benefitted from high quality careers and labour market advice to aid their journey towards and into employment.

Digital exclusion is also a significant barrier for so many of those we support, further compounding the impact of the challenges they face on a daily basis. With so many essential services operating online now, there are increasing assumptions that everyone in society has access to the IT infrastructure, devices and knowledge to use it in order to be able to independently navigate and access the information and services they require. Therefore, increasingly our specialist advisors work on a 1-to-1 basis with clients, helping them to use the relevant online platforms and often advocating for them to ensure they receive the support and responses they need from service providers.

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Notable successes and achievements throughout the year are:

• We are pleased to have been selected as a delivery partner on the ‘Relational Mentoring’ project. This project, led by the Wise Group, is funded by the UK Government through the UK Shared Prosperity Fund (UKSP) with the North of Tyne Combined Authority (NTCA) as the lead authority. It specifically supports residents across Newcastle and North Tyneside who are economically inactive and experiencing multiple barriers that may be preventing them from gaining employment. Our mentors adopt a longer term holistic approach when working with clients, providing bespoke support on a 1-to-1 basis, supporting across areas including fuel and food poverty, health and wellbeing, communication skills, confidence and basic skills such as English, Maths and digital skills

• Securing renewed support for our East End Women project, funded by the National Lottery Community Fund ‘RC North East and Cumbria Region’, enabling us to continue to develop and expand a range of interventions for vulnerable women. These include specialist advice and support for women who have been subjected to domestic abuse and other therapeutic activities including confidence and self-esteem building sessions, gardening, walking and menopause support groups. Also operating within the scope of East End Women, our Sew Sisters project runs courses for women to learn new skills in garment making, pattern cutting and clothing upcycling, repair and alteration. We are proud to champion the environmental benefits of recycling and reusing during these sessions, helping raise awareness of the impact of fast fashion and encouraging participants to get maximum life out of their existing wardrobe. During the course of the year we supported well over 2400 women, both directly and indirectly, across all strands of our provision. Over 990 of these received support with food and hygiene products and over 160 received specialist support relating to domestic abuse.

• Our Lifting Neighbourhoods Together (LNT) project has continued to thrive as an anchor project within Walker through holding listening conversations on the doorsteps of Walker residents to establish community needs and aspirations and facilitating interventions to help meet these needs. The team and volunteers have established numerous community groups offering a range of support, some peer led, covering areas such as health and wellbeing, exercise, alcohol support, Kinship care and litter picking. In the period August 22 to the end of January 24, Walker residents were supported to maximise household income by £302,332. 3114 residents were supported directly via 1-to-1 casework, community groups and events. We were proud to host a Newcastle conference in October, bringing together over 75 delegates comprising community members, delivery partners, officers from the local authority, statutory bodies and funders to showcase the achievements seen in Walker with the LNT model and to explore how we might be funded in future to replicate and further develop this work within other similar communities. Our LNT team were also pleased to host a student nurse from Newcastle GP Services, enabling them to develop their skills and learn first-hand from community members about the challenges faced in accessing the healthcare services they need.

• We were invited to join a Newcastle based partnership to deliver services on the ‘Talent Pools and Pathways’ project. This provides coordinated employer-led support to match job seekers to employers’ vacancies. The project is led by Newcastle City Council (NCC) and will in the main support Newcastle residents through interventions such as careers advice, ESOL support, life, basic and vocational skills development, volunteering and work placement opportunities commencing delivery from April 24. The project is funded by the UK Government through the UK Shared Prosperity Fund (UKSP) with the North of Tyne Combined Authority (NTCA) as the lead authority.

In December 2022 our environmental maintenance social enterprise ceased operating due to the loss of a significant contract at the end of the 2021 peak season, resulting in the loss of 2 jobs. Throughout the course of the 2023, the remaining vehicles, plant and equipment were sold with some consequential profits and losses noted on items upon disposal.

Food insecurity remains a prominent factor in Walker and Byker. Inward referrals continue to increase, however we have had to balance this with our ability to meet the spiralling costs of sustaining this aspect of our work. We have directly experienced the impact of higher food prices whilst also accommodating a decline in public donations towards our food support programme. We have been fortunate to receive a number of grant awards that have assisted immensely in meeting some of these additional costs and in conjunction with our Christmas crowdfund campaign and generous supporters, they enabled us to distribute over 200 food and toy hampers to households in Walker and Byker wards.

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

A number of years ago, the charity was gifted a double decker bus and it has remained in situe beside our main office ever since. Early in 2023, the decision was made to try to secure funding in order to convert the bus, which now was not drivable, into a community greenhouse. It’s location beside our existing Riverside Roots gardening area meant it would form a natural extension to our growing space, with the aim of enabling us to increase the volume and variety of fresh produce grown and with the ultimate goal of being able to add fresh produce to food parcels. We also aspired to enhance the exterior area surrounding the bus, creating a tranquil and mindful space where community members can sit, forge friendships and experience the benefits of nature and being outdoors. A crowdfunding campaign was launched early in Spring, supported by Spacehive and the North of Tyne Combined Authority (NTCA), to raise funds towards the conversion costs. We received tremendous public support for the initiative and the quirky nature of the project has attracted media attention from a number of outlets, both locally and nationally. We have also been fortunate to benefit from offers of in kind support from willing volunteers. The campaign was a huge success and not only did we exceed our public fundraising target, but we were also awarded a grant from NTCA to enable us to develop some of the exterior garden space. Once fully completed, not only will this allow us to expand our production, but we will also be able to offer more growing sessions for local community members and plan to develop 1-pot cooking courses to equip those experiencing food poverty to get maximum benefit from their produce.

Supported by some grant funding from NCC, we operated as Winter Warm Hubs again this year from both our main and Treetop Village sites in Walker, providing access to warm refreshments, activities and companionship for those most vulnerable in the surrounding area. Residents attending our hubs were also able to access support with debt, benefits, careers and employment advice.

All other strands of project delivery including careers advice and vocational skills development continued dynamically over the course of the year, yielding demonstrable impact for the community, meeting all relevant targets and drawing upon the strengths offered through partnership working. We are currently in early stage conversations with a number of new potential partners with whom we have a shared vision for seeing community based services delivered even more creatively, flexibly and accessibly thereby allowing us to extend our reach to the most marginalised and isolated.

Over a number of years, the charity has been directly involved in the development of Newcastle’s Sister City relationship with Little Rock, Arkansas. This year, we were extremely pleased to be asked to host a student studying at the Clinton School of Public Service in Little Rock. As part of their Master’s programme, students must undertake an international placement and we were naturally keen to support this initiative. The student worked with us for 8 weeks on a research project, a month of which was based onsite here in Newcastle. The visit was a great success and both parties benefitted from the cultural exchange. We have committed to welcoming and supporting another student this summer and very much look forward to sharing our work, vision and values with them.

We continue to be an active member sitting on the Newcastle Employment Partnership Strategy Group, helping to shape the strategic approach across the city that will ensure all residents have access to ‘Good Work’. The group works with key strategic partners such as Jobcentre Plus, YHN and transport leads to ensure accessibility for all and take steps to reduce the structural barriers faced by residents when trying to access Good Work. As part of our commitment to this, we have now committed to paying our team at least the Real Living Wage and have also successfully been awarded the NTCA Good Work Pledge standard.

2023 saw significant positive development to our governance and board membership. Working with the newly appointed Chief Executive, in January 23 Trustees prioritised the need to expand board membership, it’s skills, diversity and representation. The organisation undertook an ongoing recruitment process throughout the year and the charity attracted interest from several individuals who are ardent supporters of our work and whose value base clearly resonates with that of the organisation. Currently, the board are energised and wholly committed to supporting the CEO in shaping the strategic priorities and further improving the financial resilience of the organisation. Trustees recognise that this is an ongoing piece of work that will span at least 12-18 months. To aid and inform some of this governance review, the CEO was selected to participate in the ‘Leading the Way’ programme, a leadership development programme funded by Power to Change and the Virgin Money Foundation. This place came with a grant that has been used to commission support relating to a number of identified strategic and personal leadership objectives and that will have tangible, long term positive impact for the charity.

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Plans for Future Period

Looking to the future, the organisation will continue to scope out fresh opportunities for growth, securing new funding that will sustain and enhance existing services as well as creating opportunities for us to respond to the expressed needs of the communities we serve, through the development of new programmes. We hope that extensions may be made to the 2 current UKSP funded projects to enable delivery to continue post March 25. Clearly, decision making will be influenced by the prevailing political landscape, however both partnerships comprise long standing local anchor organisations with a proven track record of supporting the most marginalised in society. We also have exciting plans to further enhance aspects of our wellbeing, exercise and gardening activities as we know they are proven to have significant benefit to mental and physical health and in terms of gardening, have positive impact upon the environment and encouraging bio-diversity.

Public Benefit

The trustees have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning future activities. The charitable objectives are also set in order to provide a clear and demonstrable public benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Use of Volunteers

The charitable company is grateful for the continued unwavering support of our volunteers, without whose energy and commitment, many of our services would be the poorer, or indeed not be sustainable. These volunteers give so freely of their time to assist us in a range of ways including maintaining our foodbank and delivering packages, supporting clients to make benefit claims and maximise their household income, assist with our bus conversion and community garden development and supporting a number of our peer support groups. We have been fortunate over the past year to have expanded our volunteer base, enabling us to reach more community members in need of our support.

Volunteering opportunities are also specifically offered to those who might benefit from a supported experience close to the real working environment.

Financial review

The trustees have considered the result for the year and are assessing the actions required to secure the charity in the future.

For the year ended 30 September 2023, incoming resources totalled £472,993 (2022: £718,973) and resources expended totalled £489,708 (2022: £680,050) resulting in a deficit for the year of £16,715 (2022: surplus £38,923). Of this defecit the restricted funds increased by £3,029 and unrestricted funds decreased by £19,744.

Policy on reserves

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charitable company to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose. This exercise considered both the normal requirements for working capital and the loss of income of a hypothetical but reasonable reduction in the scale of operations. Resulting from this, the trustees considered it would be appropriate to hold the equivalent of three months' payroll expenditure, which would equate to holding approximately £85,000 to £100,000 in free reserves.

At the year end, free reserves were in deficit by £78,544 (2022 - £47,824), an in year deteriation of £30,720. The trustees will continue to work with funders to budget future surpluses in order to provide improved organisational sustainability.

The trustees acknowledge that as at 30 September 2023 the charity had no free reserves. The trustees recognise the importance of serving the charity's future by rebuilding unrestricted reserves and free reserves and this is a key priority. The need for the charity's services continue to grow and therefore the demand on future reserves will also be greater, hence the charity continues to require future funding and the support of its funding partners.

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Going concern

The trustees have prepared forecasts which show that, taking into account reasonable possible changes in trading performance, that the charity has sufficient cashflows to continue as a going concern. See note 2 to the accounts for further details on the assessment made around going concern.

Key Management Personnel

The board, who give their time freely and no trustees received remuneration in the year, have considered who the Key Management Personnel (KMP) of the charity, as noted in the Reference and Administration section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day to day basis. The pay of the KMP is reviewed annually and normally increased in accordance with average earnings. The trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with the budget and forecast information, ensuring that the charity can afford any proposed increases. The board then agree any uplift to remuneration.

Key Management Personnel during the year are listed as:

Anthony Woods-Waters – CEO until his retirement on 31st December 2022 Helen Holmes – Head of Operations until 31st Dec 22. Appointed CEO as of 1st Jan 23 Ancha Stoodley – Neighbourhood Transformation Team Manager Fiona Hall – Quality and Performance Manager

Principal funding sources

The majority of the charitable company's funding is through predominantly grant income received from various charitable funders, including some Shared Prosperity funds managed by the North of Tyne Combined Authority. These then relate to the delivery of curriculum activity, community capacity building or the provision of environmental maintenance services.

Structure, governance and management

Nature of governing document

The charitable company is registered as a charitable company limited by guarantee.

The charitable company is constituted under a Memorandum of Association dated 27 May 2007 as amended on 23 June 2008 and is a registered charity number 1125555.

The principal object of the charitable company is the promotion of the public benefit of urban or rural regeneration in areas of social and economic deprivation (and in particular in the East end of Newcastle upon Tyne).

The charitable company is also a member of 'Locality' the UK's leading network for community-led organisations.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

B Shepherd OBE J Stokel-Walker (Resigned 13 February 2023) C Sayers H Woods-Waters (Appointed 10 February 2023) P Stoner (Appointed 24 March 2023) D Turnell (Appointed 24 March 2023) E Barron (Appointed 12 May 2023) E Callender (Appointed 12 May 2023) P Crabtree (Appointed 24 November 2023) K Mcfarlane (Appointed 24 November 2023) A Wright (Appointed 9 February 2024)

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BUILDING FUTURES EAST LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Recruitment and appointment of trustees

The management of the charitable company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association. Articles of Association make provision for "Associate" members who have the entitlement to attendance and representation but without the right to vote.

All directors of the charitable company are also trustees under the Charities Act 2011.

Trustees may be nominated on the basis of personal values and a motivation consistent with those of the organisation.

Trustees are appointed for a period of three years at which point they must retire or stand for re-appointment as described in the Articles of Association.

Induction and training of trustees

New trustees receive an induction, which includes a briefing on their legal obligations under charity and company law, the Memorandum and Articles of Association, the committee and decision making processes, the business plan, accounts, minutes of recent trustee meetings and a schedule of future dates.

Organisational structure

The organisation operates along conventional lines with management and team meetings at all levels. These then inform the decision making process, in addition, to the feeding in of external information from partner organisations and service users.

There are also thematic meetings of staff and management to support such issues as Health and Safety and Continuous Quality Improvement. These also make important contributions to policy and practice development.

Risk Management

The trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Reappointment of Examiners

A resolution for the re-appointment of Simon Brown of Azets Audit Services as independent examiner is to be proposed at the forthcoming Annual General Meeting.

The trustee's report was approved by the Board of Trustees.

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..............................Chris Sayers 24 Jun 2024 13:14:54 BST (UTC +1) C Sayers

Trustee

24/06/2024 Date: .............................................

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BUILDING FUTURES EAST LIMITED

STATEMENT OF TRUSTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees, who are also the directors of Building Futures East Limited for the purpose of company law, are responsible for preparing the Trustee's 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 affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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.

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BUILDING FUTURES EAST LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUILDING FUTURES EAST LIMITED

I report to the trustees on my examination of the financial statements of Building Futures East Limited (the charity) for the year ended 30 September 2023.

Responsibilities and basis of report

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

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’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 ICAEW, 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:

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 financial statements to be reached.

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Simon Brown 24 Jun 2024 15:26:36 BST (UTC +1)

Simon Brown BA ACA DChA

Azets Audit Services Bulman House Regent Centre Gosforth Newcastle Upon Tyne NE3 3LS

24/06/2024 Dated: .........................

Azets Audit Services

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BUILDING FUTURES EAST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Current financial year
Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and legacies
2
77,643
359,100
Charitable activities
3
34,965
-
Investments
4
2
-
Other income
5
1,283
-
Total income
113,893
359,100
Expenditure on:
Raising funds
6
47,390
-
Charitable activities
7
86,247
356,071
Total expenditure
133,637
356,071
Net (expenditure)/income for the year/
Net movement in funds
(19,744)
3,029
Fund balances at 1 October 2022
(49,921)
10,893
Fund balances at 30 September 2023
(69,665)
13,922		 Total
2023
£
436,743
34,965
2
1,283
472,993
47,390
442,318
489,708
(16,715)
(39,028)
(55,743)		 Total
2022
£
608,317
110,256
-
400
718,973
70,764
609,286
680,050
38,923
(77,951)
(39,028)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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BUILDING FUTURES EAST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Prior financial year

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
2
47,215
561,102
Charitable activities
3
110,256
-
Other income
5
400
-
Total income
157,871
561,102
Expenditure on:
Raising funds
6
70,764
-
Charitable activities
7
59,077
550,209
Total expenditure
129,841
550,209
Gross transfers between funds
5,560
(5,560)
Net (expenditure)/income for the year/
Net movement in funds
33,590
5,333
Fund balances at 1 October 2021
(83,511)
5,560
Fund balances at 30 September 2022
(49,921)
10,893		 Total
2022
£
608,317
110,256
400
718,973
70,764
609,286
680,050
-
38,923
(77,951)
(39,028)

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BUILDING FUTURES EAST LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2023

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net liabilities
Income funds
Restricted funds
20
Unrestricted funds		 2023
£
33,492
158
33,650
(98,272)		 2022
£
£
27,213
85,615
10,455
96,070
(133,001)
(64,622)
(37,409)
(18,334)
(55,743)
13,922
(69,665)
(55,743)		 £
73,075
(36,931)
36,144
(75,172)
(39,028)
10,893
(49,921)
(39,028)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

24 June 2024

The financial statements were approved by the Trustees on .........................

==> picture [83 x 18] intentionally omitted <==

Chris Sayers 24 Jun 2024 13:14:54 BST (UTC +1) .............................. C Sayers Trustee

Company registration number 06261491

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

Charity information

Building Futures East Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Low Yard, White Street, Walker, Newcastle upon Tyne, NE6 3PJ.

In the event of liquidation, each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements show that the charity has made an in-year deficit of £16,715, which follows the surplus made in the prior year of £38,923. The charity continues to show a deficient balance sheet of £55,743. Net current liabilities have increased to £64,662 from £36,931 in the prior year.

Forecasts provided by the charity show that the entity continues to be able to pay liabilities as they fall due with ongoing support being available from Trustee members as required. The entity continues to have an overdraft facility from the bank of £25,000.

On that basis, the going concern basis of preparing the accounts remains appropriate.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Where items are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at it's fair value unless it's fair value cannot be realiably measured, then at the cost to the donor or the resale value of goods that are to be sold.

Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at it's fair value unless it's fair value cannot be realiably measured, then at the cost to the donor or the resale value of goods that are to be sold.

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Income from government, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All resources expended are inclusive of irrecoverable VAT.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets costing £100 or more are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 5 years straight line Motor vehicles 4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

(Continued)

1.9 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
22,589
6,775
Grants received from other charities
51,548
352,325
Gift aid reclaimed
3,506
-
77,643
359,100		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
29,364
13,220
150,000
403,873
34,113
411,102
3,506
(118)
-
436,743
47,215
561,102		 Total
2022
£
163,220
445,215
(118)
608,317

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

3 Charitable activities

4
5
6		 Training and
employment
Training and
employment
2023
2022
£
£
Training and employment income
34,965
110,256
Charitable activity income in the current and prior years is unrestricted.
Investments
Unrestricted
Total
funds
2023
2022
£
£
Interest receivable
2
-
Other income
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Net gain on disposal of tangible fixed assets
1,043
-
Other income
240
400
1,283
400
Raising funds
Unrestricted Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Staff costs
47,390
70,764
47,390
70,764

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

7 Charitable activities

Staff costs
Depreciation and impairment
Training and employment
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
228,951
26,298
15,392
270,641
129,954
41,723
442,318
86,247
356,071
442,318		 2022
£
347,207
31,614
36,063
414,884
149,417
44,985
609,286
59,077
550,209
609,286

8 Support costs

Support costs
Staff costs
Premises
Comunication
General office
Finance costs
Travel
Independant examination
and accountancy
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
68,404
18,237
16,781
2,288
14,604
-
25,482
7,113
4,367
4,386
316
-
-
5,175
-
4,524
129,954
41,723
129,954
41,723		 2023
£
86,641
19,069
14,604
32,595
8,753
316
5,175
4,524
171,677
171,677		 Support
costs
Governance
costs
£
£
92,571
27,232
14,293
2,135
18,656
-
17,613
4,968
4,448
2,376
1,836
-
-
3,750
-
4,524
149,417
44,985
149,417
44,985		 2022
£
119,803
16,428
18,656
22,581
6,824
1,836
3,750
4,524
194,402
194,402

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

9 Independant examiner's remuneration

Fees payable to the charity's independant examiner: 2023 2022
£ £
Independant examination fee 4,050 3,750

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

Training and employment
Environmental services
Central services
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£70,001-£80,000		 2023
Number
10
1
3
14
2023
£
326,842
29,948
6,192
362,982
2023
Number
-		 2022
Number
14
6
2
22
2022
£
491,118
38,195
8,461
537,774
2022
Number
1

The total employee benefits of the key management personnel of the charity was £138,591 (2022: £176,983).

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

13 Tangible fixed assets
Fixtures and
Motor		 vehicles Total
fittings
£ £ £
Cost
At 1 October 2022 213,129 76,090 289,219
Additions 218 - 218
Disposals (36,554) (74,093) (110,647)
At 30 September 2023 176,793 1,997 178,790
Depreciation and impairment
At 1 October 2022 166,715 49,429 216,144
Depreciation charged in the year 19,197 7,102 26,299
Eliminated in respect of disposals (36,332) (54,534) (90,866)
At 30 September 2023 149,580 1,997 151,577
Carrying amount
At 30 September 2023 27,213 - 27,213
At 30 September 2022 46,414 26,661 73,075
14 Debtors
2023 2022
Amounts falling due within one year: £ £
Trade debtors 1,744 15,302
Prepayments and accrued income 31,748 70,313
33,492 85,615
15 Creditors: amounts falling due within one year
2023 2022
Notes £ £
Bank overdrafts 17 17,161 -
Obligations under finance leases 18 - 8,901
Other borrowings 15,024 44,776
Other taxation and social security 19,638 25,250
Trade creditors 12,424 16,799
Other creditors 29,445 31,698
Accruals and deferred income 4,580 5,577
98,272 133,001

A temporary loan was obtained from Newcastle City Council to the value of £60,000. The loan was provided on 28 September 2022 and will be repaid in full by 26 December 2023. The interest rate on the loan is 3.97% per annum. This was repaid in full in January 2024.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

16 Creditors: amounts falling due after more than one year

Notes
Obligations under finance leases
18
Borrowings
Other taxation and social security		 2023
£
-
-
18,334
18,334		 2022
£
15,889
15,224
44,059
75,172

Other taxation and social security relates to payroll taxes that are considered long term as they are in an agreed time to pay arrangement with HMRC,

17 Loans and overdrafts

Bank overdrafts
Other loans
Payable within one year
Payable after one year		 2023
£
17,161
15,024
32,185
32,185
-		 2022
£
-
60,000
60,000
44,776
15,224

18 Finance lease commitments

Future minimum lease payments due under finance leases:

Future minimum lease payments due under finance leases:
Within one year
Within two and five years		 2023
£
-
-
-		 2022
£
8,901
15,889
24,790

19 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £6,192 (2022 - £8,461).

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

20 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources Balance at
1 October 2022 resources expended 30 September
2023
£ £ £ £
Barbour Foundation Grant - Supporting Freedom
Programme 2,000 - (2,000) -
Bus Conversion - 13,392 (13,392) -
ESF My Future Matters - 27,950 (27,950) -
Sew Sisters - 12,202 (12,202) -
ESIF - BFE Beat - 4,890 (4,890) -
Local Programmes - National Lottery Community Fund - 51,645 (51,645) -
Lottery Awards for All 8,893 - (8,893) -
Community Fund - Grassroot Fund - 144,095 (144,095) -
BBO Wise Steps - 33,441 (33,441) -
Newcastle City Council - Multiply - 5,000 (5,000) -
Gateshead Council - Onwards Arts Programme - 8,791 (8,791) -
Community Foundation - Platten Fund - 7,187 - 7,187
Community Foundation - P&G Fund - 4,680 (4,680) -
Relational Mentoring UKSP - 28,352 (28,352) -
Virgin Money Foundation - Power to Change - 8,000 (1,265) 6,735
Rise North East - Sport England's Together Fund - 3,575 (3,575) -
Walker Ward Grant - Sister City Exchange - 3,000 (3,000) -
Other - <£1,000 - 2,900 (2,900) -
10,893 359,100 (356,071) 13,922

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

20 Restricted funds

(Continued)

The charitable company received and applied monies towards the following restricted funds during the year.

Barbour Foundation

Grant made in support of our work providing Freedom Programme delivery and wrap around support for women experiencing or at risk of domestic abuse National Lottery Community Fund ‘RC North East and Cumbria.

Bus Conversion – Crowdfunding donations via Spacehive and grant from North of Tyne Combined Authority

Funding was received to enable the conversion of a double decker bus into a greenhouse and to enhance parts of the existing gardening area immediately behind the bus.

ESF My Future Matters

A 3 year DWP funded programme to offer a tailored package of employability and well-being support including personal and vocational skills development. The project activities will be delivered in Newcastle and North Tyneside, with a particular focus in the East side of Newcastle and Wallsend.

Sew Sisters

An ESIF 2 year programme funded by the North of Tyne CLLD Local Action Group. The programme focusses upon developing skills for women in the garment manufacturing sector and the potential for social enterprise.

ESIF - BFE BEaT

An ESIF 2 year programme funded by the North of Tyne CLLD Local Action Group. The programme focusses upon developing skills for women in the garment manufacturing sector and the potential for social enterprise.

The National Lottery Community Fund - RC North East and Cumbria Region - East End Women

continuation

A 2 year grant award to support the continued development and delivery of services and support for women via our East End Women project. This grant enables us to maintain a range of services for women including our domestic abuse support interventions, Sew Sisters garment making and upcycling courses, basic skills development, confidence building and therapeutic wellbeing and social isolation focussed activities.

Lottery Awards for All

A grant to support work and develop pathways to employment for the long term unemployed.

BBO Wise Steps

Grant funding provided by the Big Lottery Fund and the European Social Fund to help people in Tyne and Wear to transform their lives. The project provides one to one specialist support to those on the pathway to work.

Newcastle City Council - Multiply

Funding was awarded to facilitate the delivery of Multiply taster sessions across Newcastle in February and March 2023. These sessions were designed to engage North of Tyne residents in maths related activities and to generate referrals on to further maths courses.

Gateshead Council - Onwards Art Programme

To enable delivery of a therapeutic creative arts based project aimed at the most marginalised and vulnerable women in Newcastle. The project used a range of creative arts activities to encourage self-reflection and allowing women to develop longer term life plans that are inclusive of both skills and wellbeing milestones.

Community Foundation - Platten Fund

This funding was awarded to enable us to deliver a number of ‘Check Out’ employability programmes. These are aimed at supporting adults in the East End of Newcastle to return to the labour market through the development of new skills and access to high quality careers and labour market advice.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

20 Restricted funds

(Continued)

Community Foundation - P&G Fund

Funding to support the purchase of food and hygiene products, as well as assisting in meeting some of the staffing costs associated with running our warm hub spaces and foodbank.

Relational Mentoring UK Shared Prosperity Fund

This project, led by the Wise Group, is funded by the UK Government through the UK Shared Prosperity Fund with the North of Tyne Combined Authority (NTCA) as the lead authority. It specifically supports residents across Newcastle and North Tyneside who are economically inactive and experiencing multiple barriers that may be preventing them from gaining employment.

Virgin Money Foundation - Power to Change

The Leading The Way programme is designed to identify and nurture leaders of community enterprises, supporting them to deliver greater impact for their communities by increasing their confidence, resilience, skills and networks as a leader. The organisation’s new Chief Executive was selected to join the programme which came with a grant to be used to commission specific personal and organisational support most relevant to their leadership journey.

Rise North East - Sport England's Together Fund

This project funding was awarded to support the delivery of a range of physical activities requested by the local community and aimed specifically at reducing the health inequalities faced by residents in Walker. It was used to target those with a more sedentary lifestyle, long term health conditions and/or experiencing social isolation to increase their levels of activity.

Walker Ward Grant - Sister City Exchange

Ward funding received to support the costs associated with Sister City delegation visits between Newcastle and Little Rock, Arkansas.

Greggs Foundation - hardship grant for participant

This grant was received to enable the purchase of essential household furnishings for a client on one of our projects.

Hadrian Trust - East End Women

Our East End Women domestic abuse support and recovery interventions received a grant to increase capacity to offer more 1-to-1 specialist support and reach out to more vulnerable women.

Walker Ward grant - Children's Xmas party

This grant was awarded to meet the event delivery costs of a Christmas party to benefit children residing in Walker.

Your Homes Newcastle - Community Fund grant

A grant award to fund a community arts project aimed at engaging with local Walker residents.

Newcastle City Council - Winter Wellbeing Hub grant TTV

Funding was received from NCC specifically to support the running costs and delivery of activities relating to both of our winter warm hubs.

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

21 Analysis of net assets between funds Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 30
September 2023 are
represented by:
Tangible assets 27,213 - 27,213 73,075 - 73,075
Current assets/(liabilities) (78,544) 13,922 (64,622) (47,824) 10,893 (36,931)
Long term liabilities (18,334) - (18,334) (75,172) - (75,172)
(69,665) 13,922 (55,743) (49,921) 10,893 (39,028)

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
2,952
10,332
13,284		 2022
£
552
-
552

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BUILDING FUTURES EAST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

23 Related party transactions

Shepherd Offshore Group Limited

Shepherd Offshore Group Limited is a related party by virtue of its part owner, Bruce Shepherd who is also a trustee of the charitable company.

During the year the charitable company charged Shepherd Offshore Group Limited £1,404 (2022 - £8,269) for environmental maintenance services. The charity also received a donation from Shepherd Offshore Group Limited of £Nil (2022 - £150,000).

The charitable company also received an interest free loan of £Nil (2022- £Nil) during the year. The charitable company made repayments of £Nil (2022- £150,000) during the year. At the balance sheet date the amount due from Shepherd Offshore Group Limited was £Nil (2022 - £2,314).

Shepherd Offshore Limited

Shepherd Offshore Limited is a related party by virtue of its part owner, Bruce Shepherd who is also a trustee of the charitable company.

During the year Shepherd Offshore Limited charged the charitable company £1,744 (2022 - £2,170) for rent and service charges. The charitable company charged Shepherd Offshore Limited £2,812 (2022 - £11,927) for environmental maintenance services. At the balance sheet date the amount due from Shepherd Offshore Limited was £16 (2022 - £3,328).

Shepherd Offshore Services Limited

Shepherd Offshore Services Limited is a related party by virtue of its part owner, Bruce Shepherd who is also a trustee of the charitable company.

The charitable company charged Shepherd Offshore Services Limited £400 (2022 - £2,779) for environmental maintenance services. At the balance sheet date the amount due to/from Shepherd Offshore Services Limited was £Nil (2022 - £800).

St Anthony of Padua Community Association (STAPCA)

STAPCA is a related party by virtue of it's CEO, Helen Woods-Waters who is a trustee of the charitable company.

The charitable company received donations of £4,500 (2022 - £Nil) towards the bus conversion crowdfund.

Other

During the year a £9,000 (2022 - £Nil) donation was received from a close relation of one of the trustees.

During the year £Nil (2022 - £14,000) was loaned to the charity by both a trustee and a member of key management. At the year end £13,000 was owed (2022 - £14,000).