Charity number: 1130900
The Parochial Church Council Of The Ecclesiastical Parish Of Hope
Church Islington
Trustees, report and financial statements
for the year ended 31 December 2023

The ParoGhial Chur¢h Council Of The Ecclesiastical Parlsh Of Hop¢ Church Islington
Contents
Page
Reference and admlnlstrative detail$ of the Charityj it5 Trustees and advisers
Trustees, report
Independent examiner's report
Statoment of finan¢ial a¢tivÉtles
Balancg sheet
Notes to the financial statements
8-18

The Parochial Church Councll Of The Eccleslastlcal Parlsh Of Hope Church Islington
Rofemnce and admlnlstrative details of the Charlty, Its Trustees and advisers
for the year ended 31 December 2023
Trustees
J Denniss
R Chambers {resigned 13 May 2024}
P Quail
K Buraimoh
S Moss (resigned 13 May 20241
Rev M Way (resigned 13 May 2024)
S Bull
J Booth lappointed 13 May 20241
P Grayham
V Myers lappointedl
R Heacock lappoinledl
F Chukwu lappoinled 13 May 20241
Charity registered
number
1130900
Principal office
St Mary Magdalene Church
Holloway Road
London
N7 8LT
Accountants
Accountability Europe Ltd
Chartered Accountants
Omnibus Workspace
3941 North Road
London
N7 9DP
Page 1

The Paro¢hial Church Council Of The Ecclesiastical Parish Of Hopè Church Isllngton
Trustees. report
for the year ended 31 Deeembèr 2023
The Tnjstees present Iheii annual report together with the financial statements of the Charity for the 1 January
2023 to 31 December 2023.
Objectives and activitles
a. Policies and objectives
The parish's object is to build communities that grow followers of Jesus by gathering for weekly worship services.
running various èvents and facilitating regular meetings for the community with special focus on children and
young people as well as raising funds lo a55iSt worthy community piojects and engaging with issues of poverty
and inequality. particularly in the local area.
The PCC rr¢embers have paid due regard to guidance issued by the Charity Commission in deciding what
activities the parish should undertake.
In selting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to publie benefit, including the guidance 'Public benefit." running a
charity IP821'.
b. Volunteers
The Parish is dependent on volunteers for several aspects ol its ministry, some of which would be severely
urtailed if volunteers were not available. For example, volunteers are key for the running of Sunday school,
holiday events, night shelter, various courses and other a¢tivilies. Volunteers are eslimaled lo provide the
equivalent of 25 pefson-hours per week.
Achlevements and performance
Financial review
. Going ¢on¢ern
After making appropriate enquirie5. the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going ¢oneern basis in preparing the financial statements. Further details regarding the adoption of the 90ing
Concern basis can be found in ltte accounting policies.
b. Reserves policy
It is the policy of the parish that free unrestricted funds which have not been designated for a specific use should
be maintained at or above a level of £50,000, which has increased from £25,000 in previous years. The PCC
members considers that reserves al this level are sufficient as the charity re¢eives income through tWD main
streams, rental income 2nd donations, which are received monthly from numefOUS properties and many
individuals respeeb"vely. Therefore if income ceased temporarily from a propety or an individual slopped a
standing order, Il wouldn't have a significant impact on the income of the charity-
At the year end. the charity free reseryes are greater than £50,000.
c. Summary
The PCC membgrs consider that the performance of the parish has been satisfactory.
rotal income for the year as shown on page 6 was £312,081 {2022.- £488,159. which included a one off donation
of £220,920) Total expenditure was £348,376 12022.. £298.5211 and total fund reserves at 31 De￿rnber 2023
were £2,361,24312022.. £2,397,538}.
Page 2

The Parochial Church Councll Of The Eccleslastlcal Parfsh Of Hope Church Islington
Trustees, report Icontinuedl
for the year ended 31 December 2023
d. Principal risks and uncertainlles
The PCC members have a duty to identify and review the risks to which the charity is exposed and to ensure
ppropriate controls are in place to provide reasonable assurance against fraud and error, the safety and well
being of children and vulnerable adults.
The PCC members have policies covering safeguarding of Children and vulnerable adults in line with the
requirements of the Diocese of London. child abuse and inappropriate behaviour of church employees and
volunteers.
Structure, governance and management
a. Constltutlon
The Parochial Church Council Of The Ecclesiastical Parish Of St Mary Magdalene & St David, Holloway is a
body established by the Church of England. It operates undei the Parochial Church Council (Powers) Measure
1956 las amended) and the Church Representation Rules. The Parochial Church Council Of The Ecclesiastical
Parish Of St Mary Magdalene & Sl David, Holloway 15 also a registered charity, operating under the requiremenls
of The Charities A¢1 2011.
b. M¢thod$ of appolntment or election of Trustees
New PCC members are elected at the annual parochial church meeting. The incumbent is inducted by the
Bishop and installed by the Archdeacon. Churchwardens are elected al the annual parish meeting.
c. Policies adopted for the induction and tralnlng of Trustees
Ar¢y training required is very basic. The parish does not therefofe consider il necessary to have any formal
induction or training programme in pla￿. PCC members are made aware of the handbook for churchwarden
and the parish church councilors of the Canons of the Church of England Ikepl on site) and of Saf￿U￿rdin9
policy and DBS ￿qUIreMents.
d. Related party relatlonshlps
The parish has a relationship with The Urban Revival Foundation, a company limited by guarantee and under the
ontrol of four of the PCC members. The company was established for charitable purposes aiming to work in
conjunction with the parish lo promote community cohesion and other social activities. The eompany is currently
seeking registration as a charity with the Charities CoMmiss￿fi and HM Revenue and Customs.
Page 3

The Parochial Church Council Of The Eeclesiastical Parish Of Hope Church Islington
Tru$tee$' report {continuedl
for the year ended 31 December 2023
Statement of Trustees. responsibillties
The Trustees are iesponsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Krngdom Generally A¢¢epled Accounting
Practice).
The law applicable to Charits'es in Eng18nd & Wales requires the Trustees to prepare financial statemen15 for
each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources
and application of resoLtrr¢es, including its income and expenditure, 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 prin¢iples of the Charities SORP IFRS 1021..
make judgments and accounting estimates that are reasonable and prudent..
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, 5ubje¢t to any material
departures disclosed and explained in the financial statements..
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate a¢¢ounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity
and enable them to ensurè that the financial statement5 comply with the Charities Act 2011, the Charity
(Accounts and Reportsl Regulations 2008 and the provisions of the Parochial Church Council Powers Measure.
They are also responsible for safeguarding the assets of the Charity and hence for taking Teasonable steps for
the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by".
.Jllennls¥
Trustee
Date..
Page 4

The Parochlal Church Councll Of The E¢¢lesia$tl¢al Parish Of Hope Church Islington
Ind¢pendent examinprfs report
for the year ended 31 December 2023
Independent examlner's report to the Trustees ofThe Parochial Church Council OfThe
Eccleslastical Parish Of Hope Church Isllngton I'the Charlty'l
I report to the Trustees on my examination of the ￿CoUntS of the Charity for the year ended 31 December 2023.
Responsibilities and ba$ls of report
A$ the TrLTrStees of the Charity you are responsible for the preparats'on of the a¢¢ounls in 8¢cordance with the
requirements of the Charities Act 2011 I'the 2011 AGVI.
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have folbwed the applicable Directions given by the Charity Commission under
3ection 145(5llbl of the 2011 Act.
Independgnt oxamlngrfs statement
Since the Charivs gross income exceeded £250,000 I confirm that l am qLtalified to undertake the examination
because l am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confiim that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect-.
accounting records weie not kept in respect of the Charity as required by 5ectlon 130 of the 2011 Act,, or
Ihe accounts do not accord with those reeords", or
the accounts do not comply with the applicable reqUI￿rnents conceming the form and content of
accounts sel out in the Charities (Acwunls and Reports) Regulations 2008 other than any requirement
that the accounts give a Irue and fair, view which is not a matter considered as part of an independent
examinatioR.
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 lo enable a proper understanding of the accounts to be reached.
Signed:
Dated.. 2911012024
Aamer Shehzad FCA
Accountability Europe Ltd
Omnibus Workspace
39-41 North RDad
London, N7 9DP
Page 5

The Patochlal Church Councll Of The Ecclesia$ti¢al Parish Of Hope Church Islington
Statement of tlnanclal actlvltles
for the year ended 31 December 2023
Unr¢$tricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitable activities
Other income
101.412
154.981
30,000
25,688
127.100
154,981
30,000
326,387
157,605
4,167
Total income
286,393
25,688
312,081
488.159
Expenditure on:
Charitable acb'vities
305,514
42.862
348,376
298,521
Total expenditure
305,514
42.862
348,376
298,521
Net movement in funds
119.121)
{17,1741
136,2951
189.638
Reconciliation of funds:
Total funds brought forward
Nel movement in funds
2,377.651
{19.1211
19.887
117,1741
2.397,S38
136,29SI
2.207,900
189.638
Total funds carrled forward
2,358,530
2,713
2.361,243
2,397.538
The Ststement of financial acl¢vities includes all gxins and losses recognised in the year.
The notes on pages 8 10 18 form part of these financial statements.
Page 6

The Parochlal Church Council Of The Ecclesiastlcal Parish Of Hope Church Islington
Balance sheet
as at 31 December 2023
2023
2022
Note
Flxed assets
Tangible assets
10
2,173,055
2,174,798
2,173,055
2,174,798
Current assets
Debtors
Cash at bank and in hand
74,824
115,359
62.319
165,926
190.1B3
228.245
Creditors_. amounts falling dLFe within one
year
12
11,9951
15,5051
Net current assets
188.188
222,740
Total net assets
2,361,243
2,397,538
Charity funds
Restr¢cted funds
Unreslricted funds
13
13
2,713
2,358,530
19,887
2.377,651
Total funds
2,361,243
2,397,538
The financial statements were approved and aulhorised for Issue by the Trustees and signed on their behalf by..
Trustee
Date".
vy) £02*
The notes on pages 8 10 18 form part of these financial statements.
Page 7

The Parochlal Church Council Of Tha Ecclesiastlcal Parish Of Hope Church Islington
Notes to th¢ flnanclal statements
for the year ended 31 December 2023
General inforniation
The Parish Of Hope Church IslinglDn is an unincorporated charity registered in England. The charitys
principal place of business is St Mary Magdalene Chur¢h, Holloway Road, LoFMlon, N7 8LT.
Accounting policles
2.1 Basis of preparation of financlal statements
The financwl slalements have been prepared in accordance with the Charities SORP IFRS 102)
Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice app5icable to chalilies
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republi¢ of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102> and the Charities Act 2011.
The financial statements have been prepared 10 give a 'true and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'true
and fail view. This departure has involved following the Charities SORP {FRS 1021 published on 16
July 2014 rather than the Accounting and Reporting by Charities.. Statement ol Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
The Parochi81 Church Council Of The Eccle5ias1ical Parish Of Hope Church Islington meets the
definition of a public benefit entity under FRS 102. Assets and Iiabililtes are initially recogni5ed al
hi$tori¢al ¢ost or transaction value unless otherwise staled in the relevant accounting policy.
The charity is exempted from preparing 8 cash flow statement due to exemption available lo charities
with income of less than £500,000.
2.2 Going concern
The PCC members have, al the lime of approving the financial stalemenls, a reasonable expectation
that the Charity has adequale resources to continue in operational existence or the foreseeable
future.
2.3 Income
All income is recognised once the Charity has entitlement to th8 income, it is probable that the
income will be received and the amount ol income ie¢eivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the balance sheet. Where income is re¢eived in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income 15 received, the income is accrLSed.
In¢ome lax recovetable in relation to donations received under Gift or deeds of covenant 1$
re¢ognised at the lime of the donation.
Other illcome is recognised in the period in which it is receivable and to the extent the goods have
been provided Of on completion of the service_
Page 8

The Parochial Church Councll Of The Ecclesiastlcal Parish Of Hope Church Islington
Notes to the flnanclal statements
forthe year ended 31 Deeember2023
Accounting policies {continuedl
2.4 Exp8nditure
Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit
to a thir¢J party, il is probable Ihal a transfer of economic benefits will be required in selllement and
the amount of the obligation can be measured reliably. Expendilure is classified by activity. The cosls
of each activty are made up of the lolal of direct costs and shared costs. including support costs
involved in undertaking each aclivfty. Direct costs attributable to a single activity 8rÈ allocated directly
to that activity. Shared costs which contribute lo more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consislenl with
the use of resource5. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the POTtion of the assets use.
Expenditure on charitable activities is incurred Dn directly undertaking the activities which further the
Charity's objectives, as well as any 8ssocialed support costs.
Grants payable are charged in the year when the offer is made except in those cases wheye the offer
is conditional. such grants being recognised as expenditure when the Conditions attaching are
fulfilled. Grants offered subject lo conditions which have not been met at the year end are noted as a
commitment. bul not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating lo tangiblè fixed assets are treated as deferred income and released to
the statement of financial activities over the expected useful lives of the assets concerned. Other
grants are credited to the statement of financial activities as the related expenditure is incurred.
2.6 Tangible flxed assets and depreclatlon
Tangible fixed assets costin9 £100 or more are capitalised and Tecognised when future economic
benefits are probable and the cost or value of the asset can be measured (eliably.
Tangible fixed assets are initially recognised at Cost. After recognilion, under Ihe cost model, tangible
fixed assets are measured at cost less ac¢umLtlaled depreciation and any accumulated impairment
losses, All costs incurre¢J lo bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is chargeij so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the slraight-line method.
Depreciation is provided on the following basis..
Freehold property
Fixtures and fittings
Computer equipment
Not depreciated or revalued
20%
33Qh
2.7 Debtors
Trade and other debtors are recognisetl at the sèttlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and In hand
Cash al barEk and in haT)d includes cash and short-lerm highly liquid investments with a short maturity
ol three months or less frorn the date of acquisition or opening of the deposit or similar account.
Page 9

The Paro¢hial Church Council Of The E¢cleslastl¢al Parlsh Of Hope Church Isllngton
Notes to the financial statements
forthe year ended 31 December 2023
Accountlng pollcle8 (continued>
2.9 Liabllities and provision$
Liabilities are recognised when there is an obligation al the balance sheet date as a result of a past
event. it is probable that a transfer of economic benefi't will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are ￿cognised at the amount that the Charity arllicipates it will pay lo settle the debt or the
amount il has received as advanced payments for the goods or services it musl provide.
Provisions afe measured at the best esb'male of the amounts required lo settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the liability. The
unwinding of the discount is recognised in the statement ol linancial a¢livllies as a finance cost.
2.10 Financial instruments
The Charity only has financial asset5 and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are Initial￿ recognised al transaction value and subsequently
measured al their selllemenl v21ue with the ex￿ptIOn of bank loan5 which afe subsequently
measured al amortised cost using the effective interest method.
2.11 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to th8 fund in respect of the year.
2.12 Fund accounting
General lunds are unrestricted funds which are available lor use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purpose5.
Reslricled funds are funds which are lo be used in accordance WTth specific restrictions imposed by
donors or which have been raised by ihe Charity for particular purposes. The costs Df raising and
administering such funds are charged ag3insl the specific fund. The aim and use of each ieslricled
fund is set out in the notes lo the financial statements.
Page 10

The Parochial Church Council Of The Eccleslastlcal Parfsh Of Hope Church Isllngton
Notes to the financial statements
for the year ended 31 December 2023
IncomefTom donations and legacles
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Donations
Grants
92,715
8,697
2,996
22,692
95,711
31,389
101,412
25,688
127,100
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Donations
Grants
292.349
2,641
2,930
28,467
295.279
31,108
294,990
31,397
326,387
Income from charitable activities
Unrestricted
funds
2023
Total
funds
2023
Servi¢e fees
Property income
1,586
153,395
1,586
153,395
Total 2023
154,981
154.981
Unrestricted
funds
2022
Total
funds
2022
Service fees
Property income
194
157,411
194
157.411
Totsl 2022
157,605
157,605
Page11

The Parochial Chur¢h Coun¢ll Of The Ecclesiastical Parish Of Hope Church Islington
Notes to the financial Statements
for the y¢ar endgd 31 D¢¢ember 2023
Analysls of grants
Grants to
Individuals
2023
Total
funds
2023
Total
funds
2022
Winter Hardship Fund
3,182
3,182
Analy$i$ of expenditure by actlvltles
Actlvitl8s
undertaken
dlrectly
2023
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Expenses
10,292
3,182
334,902
348,376
Activities
undertaken
diieclly
2022
Support
Costs
2022
Total
ftjnds
2022
Expenses
10,323
288,198
2g8,521
Page 12

The Parochial Church Council Of The Ecclesiastical Parish Of Hope Church Islington
Notes to the financlal statements
for the year ended 31 December 2023
Analysis of expendlture by activities Icontinuedl
Analysis of support costs
Total
funds
2023
Total
fund5
2022
Staff costs
106,211
1,742
94,738
103
6,137
1,139
1,944
19,577
99.871
4,692
21,778
Depreciation
Repairs and maintenance
Bank charges
Legal and professional fees
Telephor¢e
Computer costs
Rates
Sundry costs
Printing, postage and stationary
Services
Insurance
Office costs
staff training
Common fund
Temporary stsff
Staff entertainment
Rent
Bad debt
Govefr¢ance cost5
18,825
2,272
1,173
12,253
9,756
3.122
117
5.860
296
1,959
100,550
316
512
711
7,119
451
334
87.775
1,436
790
1.422
2.250
1,020
3,192
600
334,902
288,198
Independent examlner's remungration
2023
2022
Fees payable to the Charity's independent examiner for the independent
Èxamination of the Charity's annual accounts, inclusive of VAT
1,080
Page 13

The Parochial Chur¢h Coun¢ll Of The Eccle$lastieal Parlsh 01 Hope Church Islington
Notes to the financial statements
for the year ended 31 December 2023
Staff costs
2023
2022
Wage$ and salaries
Social secLErity ¢osts
Contribution to defined wnlribulion pension schemes
100,731
2,817
2,663
93.163
3,893
2,815
106,211
99,871
The average number of persons employed by the Charity during the year was as follows..
2023
2022
No.
Staff
No employ89 received remuneratiori 8mount.ng lo more than £60.000 in either year.
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits12022 - £NIL}.
During the year ended 31 December 2023. no Trustee expenses have been incurred12022 - £NILI.
10. Tanglble fixfrd assets
Freèhold Flxtures and
property
fittings
Computer
equipment
Total
Cost
At 1 January 2023
2,172,637
11.762
9,707
2.194,106
Al 31 December 2023
2.172,637
11.762
9.707
2,194,106
Depreciation
Al 1 January 2023
Charge for the year
11,762
7,S46
1,743
19,308
1.743
At 31 December 2023
11,762
9,289
21,051
Net book value
At 31 December 2023
2,172,637
418
2,173,OSS
Page 14

The Parochial Church Councll Of The Ecclesiastical Parish Of Hope Church1511ngton
Notes to the financial statements
forthe year ended 31 December 2023
11. Debtors
2023
2022
Due within one year
Trade debtors
Other debtor$
Prepayments and accrued income
15,92S
45,962
12,937
29.108
14,552
18.659
74,824
82,319
12. Creditors; Amounts falling due wlthln one year
2023
2022
Accruals and deferied income
1,995
5,505
Page 15

The Parochial Church Council Of The Ecclesiastical Pari$h Of Hope Church Isllngton
Notes to the financial statements
for the year ended 31 Decembgr 2023
13. Statgment of funds
Statement of fund5 . current year
Balance at
31
De¢ember
2023
Balance at 1
January
2023
Incomo Expenditure
Unrestrlcted funds
General funds
2.377,651
286,393
1305,5141
2,358,530
Restri¢ted funds
Cloudesley church mainlenance grants
19,887
25,688
142,862}
2,713
Total of funds
2,397,538
312,081
1348,3761
2,361,243
Cloudesley church maintenance grants - Emergency works lo repair the church building.
Cloudesley online video grant . To purchase equipment to enable recording and streaming of videos, and
associated computer applications.
151inglon Council- To install LED lighting.
Winter Hardship Fund - Funds donated and set aside lo help the community with their utility bills dLtring
the winter.
Page 16

The Parochlal Church Councll Of The Ecclesiasti¢al Parlsh Of Hope Church Islington
Notes to the financial statements
forthe year ended 31 December 2023
13. Statement of funds Icontinued)
Statement of funds prior year
Ba18nce at
31
December
2022
Balance at
1 January
2022
Income Expenditure
Unrestricted funds
General funds
2,190.112
456,762
1269.223) 2,377,651
Restricted funds
Cloudesley online video grant
lslington Council
Winter Hardship Fund
Cloud5eley - Boiler
Cloudseley- Building maintenan
12,3221
190}
14501
12.8321
{23.6041
4.022
11.354
2.480
11,444
2,930
2,832
25,635
2,031
17,788
31,397
{29,2981
19,887
Total of fund$
2,207,900
488.159
1298,5211
2,397,538
14. Analysis of net assgts between funds
Analysi¥ of net assets between funds - current year
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tangible fixed assets
Current as$ets
Creditors due wilhin one year
2,172.636
187,889
{1,995}
419
2.294
2,173,055
190,183
11,9951
Total
2.358,530
2,713
2,361,243
Page 17

The Parochlal Church Councll Of The Ecclesiastical Parish Of Hope Church Islington
Notes to the financlal statements
for the y¢ar ended 31 December 2023
14. Analy81s of net assets betw99n funds (continuedl
Analysis ol net assets bgtween funds - prlor year
Unreslricled
funds
2022
Reslricled
funds
2022
Totsl
funds
2022
Tangible fixed assets
Current assets
Credilois due within one yeaf
2,172,637
210,519
15,5051
2,161
17,728
2,174,798
228.245
15,5051
Total
2,377,651
19,887
2.397,538
15.
Pension commitments
The charity operates a defined contribulion pension scheme. The assets of the scheme are held
separately from those Df the charity in an independently administered fLtnd. The pension cost charge
represents contributions payable by the charity to the fund and amounted lo £2,66312022." £2,815). Al tha
balance sheet dale, the charity owed £nil to the fund12022.' £nill.
16.
Operating toase commitments
At 31 Decernber 2023 the Charity had commitments to make future minimum lease payments under non-
ancellable operating leases as follows..
2023
2022
Not later than 1 year
Later than 1 year and not later than 5 years
2,347
4.694
2,347
2,347
7,041
17. Related party transaGtions
During the year, donations totalling £nil 12022." £4.0001 were received from The Urban Revival
Foundation. a company controlled by Trustees of the charity. The charity also made nel payments
totslling £29.00012022'. £33,832) to The Urban Revival Foundation. At the balance sheet date, the charity
was owed £43,55212022'. £14,552) from The Urban Revival Foundation.
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