2023-03-31-accounts

DIRECTORS
	JD Allen
	C JCarlisle (Chair)
	C I El-Shabba
	L J Holden
	M A Jasper
	EM Loughran
	C Moquet
	K M Pickett
	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 8YZ
BANK	Santander UK Pic
	2 Triton Square
	Regent's Place
	London
	NWI 3AN
FINANCIAL ADVISORS	RSM Corporate Finance	LLP
	6a Floor
	25 Farringdon Street
	London
	EC4A 4AB

J D Allen	(Appointed	30/06/23)
C J Carlisle
C I El-Shabba
LJ Holden	(Appointed	12/05/23)
JBJ Hughes	(Resigned	22/7/22)
M A Jasper	(Appointed	12/05/23)
EL Loughran	(Appointed	19/06/23)
M BMeara	(Resigned	12/06/23)
C Moquet
A Phillips	(Resigned	I/6/23)
K M Pickett	(Appointed	06/07/23)
D Spafford	(Resigned	6/10/22)
G Williams	(Resigned	18/4/23)
P SWoodgate

TATEMENT OF CCOUNT) or the year ended	FINANCI 3I March	AL ACTIV 2023	ITIES (INCOR	PORATING AN I	NCOME AND
			Notes	2023	2022
INCOME AND ENDOWMENTS		FROM:
Charitable activities				5,108,291	5,092,381
Investment Income				52,193	12,798
			15
Total				5,160,484	5,105,179
EXPENDITURE ON:
Charitable activities				(5,332,059)	(5,248,402)
NET EXPENDITURE				(171,575)	(143,223)
RECONCILIATION	OF FUNDS;
TOTAL FUNDS BROUGHT FORWARD				(6,920,834)	(6,777,611)
TOTAL FUNDS CARRIED FORWARD				(7,092,409)	(6,920,834)

at 31 March 2023	Company	Registration N	o. 0686122
		2023	2022
	Notes
FIXED ASSETS
Tangible assets		21,497,847	22,266,840
CURRENT ASSETS
Debtors		765,780	784,772
Cash at bank and in hand		4,387,499	4,125,292
		5,153,279	4,910,064
CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR	5	(712,312)	(628,918)
NET CURRENT ASSETS		4,440,967	4,281,146
TOTAL ASSETSLESSCURRENT LIABILITIES		25,938,814	26,547,986
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR	6	(33,031,223)	(33,468,820)
NET LIABILITIES		(7,092,409)	(6,920,834)
UNRESTRICTED FUNDS
Deficiency		(7,092,409)	(6,920,834)
TOTAL DEFICIENCY	8	(7,092,409)	(6,920,834)

				2023	2022
			Note	f
CASH PROVIDED BY / (USED IN)	OPERATING	ACTIVITIES	13	605,213	602,381
CASH FLOWS FROM INVESTING	ACTIVITIES:
Purchase offixed assets				(802)	(5,288)
CASH USED IN INVESTING ACTIVITIES				(802)	(5,288)
CASH FLOWS FROM FINANCING	ACTIVITIES:
Repayments ofborrowing				(342,204)	(712,922)
Cash inflows from new borrowing
NET CASH PROVIDED BYFINANCING ACTIVITIES				(342,204)	(712,922)
CHANGE IN CASH AND CASH EQUIVALENTS PERIOD		IN THE REPORTING		262,207	(115,829)
CASH AND CASH EQUIVALENTS REPORTING PERIOD	AT THE BEGINNING OF THE			4,125,292	4,241,121
CASH AND CASH EQUIVALENTS	AT THE END OF THE REPORTING		PERIOD	4,387,499	4,125,292

r t	he year ended 31March 2023	he year ended 31March 2023
I	NET OUTGOING RESOURCES FOR THE YEAR		2023	2022
	Net outgoing resources	is stated aller charging:
	Depreciation oftangible	assets
	—Owned assets		2,098	1,834
	-Leased assets		767,697	767,696
	Operating lease rentals		9,540	9,714

3	TANGIBLE FIXEDASSETS
		Leasehold	Computer	Total
		Land and	equipment
		buildings	etc.
	COST
	At I April 2022	29,498,181	38,793	29,536,974
	Additions		802	802
	Disposals		(6416)	(6,416)
	At 31 March 2023	29,498,181	33,179	29,531,361
	DEPRECIATION
	At I April 2022	7,234,981	35,153	7,270, 134
	Charge for the year	767,697	2,098	769,795
	Disposals		(6,416)	(6,416)
	At 31 March 2023	8,002,677	30,835	8,033,513
	NET BOOK VALUE
	At 31 March 2023	21,495,504	2,344	21,497,847
	At 31 March 2022	22,263,200	3,640	22,266,840
4	DEBTORS		2023	2022
				f
	Trade debtors		391,773	390,516
	Other debtors and prepayments		374,007	394,256
			765,780	784,772

11	EXPENDITURE ON	CHARITABLE ACTIVITIES	CHARITABLE ACTIVITIES	2023	2022
					f
	Property management	fees (See note 10)		2,274,099	2,193,907
	Support costs			212,618	212,675
	Depreciation			769,796	769,530
	Office and general overheads			80,288	67,331
	Legal and professional	fees		55,907	88,202
	Finance costs (Santander		Loan)	1,929,789	1,906,882
	Audit fee			9,562	9,875
				5,332,059	5,248,402
12	STAFF COSTS AND	TRUSTEES' REMUNERATION		2023	2022
				f.
	Salaries			167,920	171,800
	Social security			12,220	11,839
	Pension contribution			25,910	23,811
				206,050	207,450

RECONCILIATION ON NET MOVEMENTS IN FUNDS TO NET CASH FLO	RECONCILIATION ON NET MOVEMENTS IN FUNDS TO NET CASH FLO	W
FROM OPERATING ACTIVITIES		2023	2022
			f.
Net movement in funds		(171,575)	(143,223)
Add back depreciation	charge	769,796	769,530
(Increase)/Decrease in	debtors	18,991	(16,191)
(Decrease)/Increase in	creditors	(I1,999)	(7,735)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES		605,213	602,381

	At start ofyear	Cash Flows	Other non-cash	At end of
			Changes	year
				g
Cash	4,125,292	262,207		4,387,499
Loans falling due within one year	(270,462)	270,462	(365,856)	(365,856)
Loans falling due after more than	(33,468,820)	71,741	365,856	(33,031,223)
one year
Total	(29,613,990)	604,410		(29,009,580)
INVESTMENT INCOME
			2023	2022
Bank Interest Received			52,193	12,798