| CJ Carlisle (Chair) | CJ Carlisle (Chair) | |||
|---|---|---|---|---|
| C I El-Shabba | ||||
| M B Meara | ||||
| C Moquet | ||||
| A Phillips | ||||
| D Spafford | ||||
| G Williams | ||||
| P S Woodgate | ||||
| CHIEF EXECUTIVE OFFICER | S Bulbeck | |||
| COMPANY | NUMBER | 06861227 | ||
| CHARITY | NUMBER | 1133436 | ||
| REGISTERED OFFICE | Unit F, Hove Technology | Centre | ||
| AND OPERATIONS ADDRESS | St Joseph's Close | |||
| Hove | ||||
| East Sussex | ||||
| BN3 7ES | ||||
| AUDITOR | Chariot House | Limited, | ||
| 44 Grand Parade | ||||
| Brighton | ||||
| East Sussex | ||||
| BN2 9QA | ||||
| SOLICITORS | Trowers &Hamlin | |||
| 3 Bunhill Row | ||||
| London | ||||
| ECIY SYZ | ||||
| BANK | Santander UK |
Plc | ||
| 2 Triton Square | ||||
| Regent's Place | ||||
| London | ||||
| NWI 3AN | ||||
| FINANCIAL | ADVISORS | RSM Corporate | Finance | LLP |
| 6n Floor | ||||
| 25 Farringdon | Street | |||
| London | ||||
| EC4A 4AB |
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| 8 | f | |||
| INCOME AND ENDOWMENTS | FROM; | |||
| Charitable activities |
5,092,381 | 4,585,835 | ||
| Investment Income |
12,798 | 18,326 | ||
| 15 | ||||
| Total | 5,105,179 | 4,604,161 | ||
| EXPENDITURE ON: | ||||
| Charitable activities |
(5,248,402) | (5,135,172) | ||
| NET EXPENDITURE | (143,223) | (531,011) | ||
| RECONCILIATION OF FUNDS: |
||||
| TOTAL FUNDS BROUGHT FORWARD | (6,777,611) | (6,246,600) | ||
| TOTAL FUNDS CARRIED FORWARD | (6,920,834) | (6,777,611) |
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | 8 | ||
| FIXEDASSETS | |||
| Tangible assets |
3 | 22,266,840 | 23,031,082 |
| CURRENT ASSETS | |||
| Debtors | 784,772 | 768,581 | |
| Cash at bank and in hand | 4,125,292 | 4,241,121 | |
| 4,910,064 | 5,009,702 | ||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | 5 | (628,918) | (640,796) |
| NET CURRENT ASSETS | 4,281,146 | 4,368,906 | |
| TOTAL ASSETS LESSCURRENT LIABILITIES | 26,547,986 | 27,399,988 | |
| CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
6 | (33,468,820) | (34,177,599) |
| NET LIABILITIES | (6,920,834) | (6,777,611) | |
| UNRESTRICTED FUNDS | |||
| Deficiency | (6,920,834) | (6,777,611) | |
| TOTAL DEFICIENCY | 8 | (6,920,834) | (6,777,611) |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | |||||
| CASH PROVIDED BY/ (USED IN) | OPERATING | ACTIVITIES | 13 | (110,541) | 178,421 |
| CASH FLOWS FROM INVESTING | ACTIVITIES: | ||||
| Purchase offixed assets | (5,288) | (271) | |||
| CASH USED IN INVESTING ACTIVITIES | (5,288) | (271) | |||
| CASH FLOWS FROM FINANCING | ACTIVITIES: | ||||
| Repayments ofborrowing |
|||||
| Cash inflows from new borrowing | |||||
| NET CASH PROVIDED BYFINANCING ACTIVITIES |
|||||
| CHANGE IN CASH AND CASH EQUIVALENTS PERIOD |
IN THE REPORTING | (115,829) | 178,150 | ||
| CASH AND CASH EQUIVALENTS REPORTING PERIOD |
AT THE BEGINNING OF THE | 4,241,121 | 4,062,971 | ||
| CASH AND CASH EQUIVALENTS | AT THE END | OF THE REPORTING | PERIOD | 4,125,292 | 4,241,121 |
| I | NET OUTGOING RESOURCES FOR THE YEAR | NET OUTGOING RESOURCES FOR THE YEAR | 2022 | 2021 |
|---|---|---|---|---|
| Net outgoing resources | is stated aAer charging: | |||
| Depreciation oftangible | assets | |||
| - Owned assets |
1,834 | 228 | ||
| —Leased assets | 767,696 | 767,700 | ||
| Operating lease rentals |
9,714 | 10,251 |
| 3 | TANGIBLE FIXEDASSETS | |||
|---|---|---|---|---|
| Leasehold | Computer | Total | ||
| Land and | equipment | |||
| butldtngs | etc. | |||
| COST | ||||
| At I April 2021 | 29,498,181 | 33,505 | 29,531,686 | |
| Additions | 5,288 | 5,288 | ||
| At 31March 2022 | 29,498,181 | 38,793 | 29,536,974 | |
| DEPRECIATION | ||||
| At I April 2021 | 6,467,284 | 33,319 | 6,500,603 | |
| Charge for the year | 767,696 | 1,834 | 769,530 | |
| At 31 March 2022 | 7,234,981 | 35,153 | 7,270,133 | |
| NET BOOK VALUE | ||||
| At 31 March 2022 | 22,263,200 | 3,640 | 22,266,840 | |
| At 31March 2021 | 23,030,897 | 186 | 23,031,082 | |
| 4 | DEBTORS | 2022 | 2021 | |
| f. | ||||
| Trade debtors | 390,516 | 355,481 | ||
| Other debtors and prepayments | 394,256 | 413,100 | ||
| 784,772 | 768,581 |
| 5 | CREDITORS; AMOUNTS | FALLING DUE tVITHIN ONE YEAR | 2022 | 2021 | ||
| f | ||||||
| Trade creditors | 189,196 | 200,244 | ||||
| Taxation and social security | ||||||
| Other creditors | 169,260 | 165,947 | ||||
| Loan - Santander | 270,462 | 274,605 | ||||
| 628,918 | 640,796 | |||||
| 6 | CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | 2022 | 2021 | ||
| Other creditors - Brighton | and Hove City Council | 2,339,883 | 2,778,200 | |||
| Loan - Santander | 31,128,937 | 31,399,399 | ||||
| 33,468,820 | 34,177,599 | |||||
| An analysis ofthe maturity | ofLoan - Santander | is given below: | 2022 | 2021 | ||
| Ainounts falling due in more |
than one year, but | less than two years; | 365,856 | 270,462 | ||
| Amounts falling due between |
two and five years: | 1,754,799 | 1,417,112 | |||
| Amounts falling due in more |
than five years: | 29,008,282 | 29,711,825 |
| DEFINED C | ONTRIB | UTI | ON | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| f | |||||||||
| Contributions | payable | by | the | company | for | the | year | 23,811 | 25,585 |
| Equipment | Equipment | Land and | Buildings | |||
|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||
| Operating | leases which expire: | |||||
| Not later | than one year | 2,322 | 2,322 | 8,000 | 8,000 | |
| Between | two and five years | 194 | 2,516 | 7,101 | 15,101 | |
| RELATED PARTY TRANSACTIONS | ||||||
| 2022 | 2021 | |||||
| f | ||||||
| Short term | creditors owing to Brighton & Hove City Council at the year | end | 186,107 | 179,544 | ||
| Amounts the year |
received from Brighton &Hove City Council on the company's | behalf in | 560,169 | |||
| Long term | creditors owing to Brighton & Hove City Council at the year | end | 2,339,883 | 2,778,200 | ||
| Rental income received in the year from Brighton &Hove City Council |
as | 5,092,381 | 4,585,835 | |||
| managing | agents | |||||
| Charges | in | the year front Brighton &Hove | City Council for management | fees | 2,193,907 | 2,116,662 |
| Repayment | ofAvailable Monies to Brighton |
and Hove City Council | 748,675 | 426,889 |
| 11 | EXPENDITURE ON | CHARITABLE ACTIVITIES | 2022 | 2021 |
|---|---|---|---|---|
| 8 | ||||
| Property management |
fees | 2,193,907 | 2,116,662 | |
| Support costs | 212,675 | 218,995 | ||
| Depreciation | 769,530 | 767,928 | ||
| Office and general overheads | 67,331 | 76,456 | ||
| Legal and professional | fees | 88,202 | 62,1]I | |
| Finance costs | 1,906,882 | 1,883,615 | ||
| Audit fee | 9,875 | 9,405 | ||
| 5,248,402 | 5,135,172 | |||
| 12 | STAFF COSTS AND | TRUSTEES' REMUNERATION | 2022 | 2021 |
| r | ||||
| Salaries | 171,800 | 174,890 | ||
| Social security | 11,839 | 12,610 | ||
| Pension contribution | 23,811 | 25,585 | ||
| 207,450 | 213,085 |
| 13 | RECONCILIATION ON NET ivlOVEMENTS |
IN FUNDS TO NET CASH FLOW | ||
|---|---|---|---|---|
| FROM OPERATING ACTIVTIES | 2022 | 2021 | ||
| Net movement in funds |
(143,223) | (531,011) | ||
| Add back depreciation charge |
769,530 | 767,928 | ||
| (Increase)/Decrease in debtors |
(16,191) | 93,134 | ||
| (Decrease)/Increase in creditors |
(720,657) | (151,630) | ||
| NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES | (110,541) | 178,421 |
| At start ofyear | Cash Flows | Other non-cash | At end of | |
|---|---|---|---|---|
| Changes | year | |||
| Cash | 4,241,121 | (115,829) | 4,125,292 | |
| Loans falling due within one year | (274,605) | 274,605 | (270,462) | (270,462) |
| Loans falling due aRer more than | (34,177,599) | 438,317 | 270,462 | (33,468,820) |
| one year | ||||
| Total | (30,211,083) | (597,093) | (29,613,990) | |
| INVESTMENT INCOME | ||||
| 2022 | 2021f | |||
| Bank Interest Received | 12,798 | 18,326 |