##
##
##
|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|
##