| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe Charity, its Trustees and advisers | |||
| Trustees' report |
2-10 | |||
| independent | auditors' | report | on the financial statements | 11-14 |
| Consolidated | statement | offinancial activities | 15 | |
| Consolidated | balance sheet | 16 | ||
| Charity balance sheet | 17 | |||
| Consolidated | statement | ofcash flows | 18 | |
| Notes to the | financial statements | 19-39 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| Note | 6 | 8 | 6 | ||||
| Income from: | |||||||
| Donations and |
legacies | 542,555 | 215,765 | 758,320 | 2,642,214 | ||
| Charitable activities |
6,000 | 6,000 | 6,000 | ||||
| Investments | 89,243 | 89,243 | 29,409 | ||||
| Other income | 4,524 | 4,524 | 20,028 | ||||
| Total income | 642,322 | 215,765 | 858,087 | 2,697,651 | |||
| Expenditure on: |
|||||||
| Charitable activities |
9,10 | 576,769 | 4,569 | 581,338 | 447,690 | ||
| Total expenditure | 576,769 | 4,569 | 581,338 | 447,890 | |||
| Net income before | taxation | 65,553 | 211,196 | 276,749 | 2,249,761 | ||
| Taxation | (897) | (897) | |||||
| Net movement | in funds | 64,656 | 211,196 | 275,852 | 2,249,761 | ||
| Reconciliation | offunds: | ||||||
| Total funds brought | forward | 2,822,914 | 2,133,891 | 4,956,805 | 2,707,044 | ||
| Nei movement | in funds | 64,eee | 211,196 | 275,852 | 2,249,761 | ||
| Total funds carried forward | 2,887,570 | 2,345,087 | 5,232,657 | 4,956,805 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | 6 | ||||||
| Fixed assets | |||||||
| Tangible assets | 14 | 1,220,579 | 1,190,222 | ||||
| Investments | 16 | 611,613 | 611,613 | ||||
| 1,832,192 | 1,801,835 | ||||||
| Current assets | |||||||
| Debtors | 17 | 31,596 | 217,005 | ||||
| Investments | 18 | 1,001,059 | 1,001,059 | ||||
| Cash at bank | and in hand | 2,347,215 | 1,909,910 | ||||
| 3,379,870 | 3,127,974 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 19 | (14,647) | (10,333) | ||||
| Net current | assets | 3,365,223 | 3,117,641 | ||||
| Total net assets | 5,197,415 | 4,919,476 | |||||
| Charityfunds | |||||||
| Restricted funds | 20 | 2,345,087 | 2,133,891 | ||||
| Unrestricted | funds | 20 | 2,852,328 | 2,785,565 | |||
| Total funds | 5,197,415 | 4,919,476 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| 5 | |||||
| Cash flows from operating | activities | ||||
| Net cash used in operating |
actwities (note 22) | 414,058 | 2,164,548 | ||
| Cash flows from investing | activities | ||||
| Dividends, interests and rents from investments |
19,453 | 4,625 | |||
| Purchase of tangible fixed assets | (36,232) | (64,547) | |||
| Purchase of investments | (706,910) | ||||
| Net cash used in investing |
activities | (16,779) | (766,832) | ||
| Change in cash and cash |
equivalents in |
the year | 397,279 | 1,397,716 | |
| Cash and cash equivalents | at the beginning | of the year | 2,963,403 | 1,565,687 | |
| Cash and cash equivalents | at the end ofthe year | 3,360,682 | 2,963,403 | ||
| The notes on pages 19to 39form part ofthese financial | statements |
| eir estimated useful lives, |
on the following bases: |
on the following bases: |
|---|---|---|
| Freehold property |
- not depreciated | |
| Plant and machinery | - 25% straight | line |
| Motor vehicles | - 25% straight | line |
| Fixtures and fittings | - 25% straight | line |
| Computer equipment |
- 25%straight | line |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2023f | 2023 8 |
2023 8 |
2022f | ||
| Donations | and gifts | 542,555 | 40,265 | 582,820 | 2,642,214 |
| Grants | 175,500 | 175,500 | |||
| 542,555 | 215,765 | 758,320 | 2,642,214 | ||
| Total 2022 | 531,470 | 2,110,744 | 2,642,214 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023 | 2023 | 2022 | ||
| 8 | 8 | E | ||
| Charitable | rental income | 6,000 | 8,000 | 6,000 |
| Total 2022 | 6,000 | 6,000 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023f | 2023f | 2022 | |
| Valence Group rental income | 69,790 | 69,790 | 24,784 |
| Interest receivable | 19,453 | 19,453 | 4,625 |
| 89,243 | 89,243 | 29,409 | |
| Total 2022 | 29,409 | 29,409 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2023f | 2023f | 2022 f |
|||
| Sundry | income | 4,524 | 4,524 | 4,028 | |
| VAT provision | released | 16,000 | |||
| 4,524 | 4,524 | 20,028 | |||
| Total 2022 | 20,028 | 20,028 |
| Grants to | Grants to | Total | Total | |
|---|---|---|---|---|
| Institutions | Individuals | funds | funds | |
| 2023 f |
2023 f |
2023f | 2022 E |
|
| Grants payable | 107,653 | 4,266 | 111,919 | 109,202 |
| Total 2022 | 105,555 | 3,647 | 109,202 |
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | Total | Total | ||
| 2023 | 2023 6 |
2023 | 2022f | ||
| Charitable | activities | 576,769 | 4,569 | 581,338 | 447,890 |
| Total 2022 | 445,327 | 2,563 | 447,890 |
| Direct | Grants | Support | Total | Total | ||
|---|---|---|---|---|---|---|
| costs | payable | costs | funds | funds | ||
| 2023 | 2023f | 2023 8 |
2023 | 2022 | ||
| Charitable | activities | 456,499 | 111,919 | 12,920 | 581,338 | 447,690 |
| Total 2022 | 327,756 | 109,202 | 10,932 | 447,890 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2023f | 2023 | 2022 F |
|||
| Staff costs | 169,819 | 169,819 | 152,737 | ||
| Depreciation | 5,874 | 5,874 | 4,812 | ||
| Printing, postage and stationery |
1,442 | 1,442 | 2,253 | ||
| Office expenses | 18,204 | 18,204 | 19,228 | ||
| Travel and subsistence | 16,620 | 16,620 | 8,000 | ||
| Establishment | expenses | 89,603 | 89,603 | 7,762 | |
| Ministry support |
76,090 | 76,090 | 69,199 | ||
| Other direct costs | 58,693 | 58,693 | 53,472 | ||
| Sundry expenses | 8,359 | 8,359 | 4,887 | ||
| Legal and professional fees | 2,943 | 2,943 | 4,073 | ||
| Profit on sale offixed assets | (1,418) | ||||
| Properly costs | 17,561 | 17,561 | 6,360 | ||
| Amortisation on negative |
goodwill | (8,709) | (8,709) | (3,629) | |
| 456,499 | 456,499 | 327,756 | |||
| Total 2022 | 327,756 | 327,756 | |||
| Analysis ofsupport costs | |||||
| Unrestricted | Total | Total | |||
| funds | funds | funds | |||
| 2023 | 2023 | 2022 | |||
| F | |||||
| Audit fees | 10,950 | 10,950 | 7,500 | ||
| Legal fees | 1,970 | 1,970 | 3,432 | ||
| 12,920 | 12,920 | 10,932 | |||
| Total 2022 | 10,932 | 10,932 |
| Group | Group | Charity | Charity | |||
|---|---|---|---|---|---|---|
| 2023f | 2022 F |
2023 | 2022 | |||
| Wages and | salaries | 159,211 | 142,218 | 189,211 | 142,218 | |
| Social security costs | 8,236 | 8,257 | 8,238 | 8,257 | ||
| Pension costs | 2372 | 2,262 | 2,372 | 2,262 | ||
| 169,819 | 152,737 | 189,819 | 152,737 | |||
| The average | number | of persons employed | by the Charity during the year was as follows: | |||
| Group | Group | |||||
| 2023 | 2022 | |||||
| No. | No. |
| Goodwill | ||
|---|---|---|
| Cost | ||
| At | 1 Apnl 2022 | (87,090) |
| At | 31 March 2023 | (87,090) |
| Amortisation | ||
| At | 1 April 2022 | (3,629) |
| Charge for the year | (8,709) | |
| At | 31 March 2023 | (12,338) |
| Net book value | ||
| At | 31 March 2023 | (74,752) |
| At | 31 March 2022 | (83,461) |
| Freehold | Plant and | Motor | Fixtures | Computer | ||
|---|---|---|---|---|---|---|
| property | machinery f |
vehicles 5 |
and fittings | equipment f |
Total | |
| Cost or valuation | ||||||
| At 1 April 2022 | 1,174,078 | 75,464 | 7,000 | 2,884 | 11,522 | 1,270,948 |
| Additions | 33,939 | 2,293 | 36,232 | |||
| At 31 March 2023 | 1,208,017 | 75,464 | 7,000 | 2,884 | 13,815 | 1,307,180 |
| Depreciation | ||||||
| At 1 April 2022 | 65,955 | 7,000 | 2,884 | 4,887 | 80,726 | |
| Charge for the year | 3,168 | 2,707 | 5,875 | |||
| At 31 March 2023 | 69,123 | 7,000 | 2,884 | 7,594 | 86,601 | |
| Net book value | ||||||
| At 31 March 2023 | 1,208,017 | 6,341 | 6,221 | 1,220,579 | ||
| At 31 March 2022 | 1,174,078 | 9,509 | 6,635 | 1,190,222 |
| Freehold | Plant and | Motor | Fixtures | Computer | ||
|---|---|---|---|---|---|---|
| propertyf | machinery f |
vehicles f |
and fittings f |
equipment f |
Total f |
|
| Cost orvaluation | ||||||
| At 1 April 2022 | 1,174,078 | 75,464 | 7,000 | 2,884 | 11,522 | 1,270,948 |
| Additions | 33,939 | 2,293 | 36,232 | |||
| At 31 March 2023 | 1,208,017 | 75,464 | 7,000 | 2,884 | 13,815 | 1,307,180 |
| Depreciation | ||||||
| At 1 Apdl 2022 | 65,955 | 7,000 | 2,884 | 4,887 | 80,726 | |
| Charge for the year | 3,168 | 2,707 | 5,875 | |||
| At 31 March 2023 | 69,123 | 7,000 | 2,884 | 7,594 | 86,601 | |
| Net book value | ||||||
| At 31 March 2023 | 1,208,017 | 6,341 | 6,221 | 1,220,579 | ||
| At 31 March 2022 | 1,174,076 | 9,509 | 6,635 | 1,190,222 |
| Freehold | |
|---|---|
| investment | |
| property | |
| Valuation | |
| Brought forward | 794,000 |
| At 31 March 2023 | 794,000 |
| Investments | |
|---|---|
| In | |
| subsidiary | |
| Charity | companiesf |
| Cost orvaluation | |
| At 1 April 2022 | 611,613 |
| At 31 March 2023 | 611,613 |
| Net book value | |
| At 31 March 2023 | 611,613 |
| At 31 March 2022 | 611,613 |
| Group | Group | Charity | Charity | ||||
|---|---|---|---|---|---|---|---|
| 2023f | 2022 8 |
2023 6 |
2022 | ||||
| Due within one year | |||||||
| Trade debtors | 5,000 | 3,500 | 5,000 | 3,500 | |||
| Other debtors | 6,826 | 163,259 | 161,093 | ||||
| Prepayments and accrued income |
30,216 | 53,870 | 26,596 | 52,412 | |||
| 42,042 | 220,629 | 31,596 | 217,005 | ||||
| 18. | Current asset investments | ||||||
| Group | Group | Charity | Charity | ||||
| 2023 6 |
2022 8 |
2023 f |
2022 f |
||||
| Short-term cash investments |
1,001,059 | 1,001,059 | 1,001,059 | 1,001,059 | |||
| 19. | Creditors: Amounts | falling due | within one year | ||||
| Group | Group | Charity | Charity | ||||
| 2023 8 |
2022f | 2023 8 |
2022 6 |
||||
| Trade creditors | 2,372 | ||||||
| Corporation tax |
897 | ||||||
| Other taxation and social security | 3,093 | 2,480 | 3,093 | 2,480 | |||
| Other creditors | 7,099 | 19,083 | 7,099 | 1,603 | |||
| Accruais and deferred | income | 98,805 | 104,053 | 4,455 | 6,250 | ||
| 109,894 | 127,988 | 14,647 | 10,333 | ||||
| Group | Group | ||||||
| 2023 | 2022 | ||||||
| 8 | 6 | ||||||
| Deferred income at 1 | April 2022 | 96,553 | |||||
| Resources deferred during the year |
96,553 | ||||||
| Amounts released from previous |
periods | (4,028) | |||||
| Deferred income at | 31 March 2023 | 92,525 | 96,553 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | 31 March | ||||
| April 2022f | Income f |
Expenditure 6 |
in/out 6 |
2023 6 |
||
| Unrestricted funds |
||||||
| Designated funds |
||||||
| Main hall development | 2,634,335 | 103,235 | 2,737,570 | |||
| General funds | ||||||
| General funds | 188,579 | 642,322 | (577,666) | (103,235) | 150,000 | |
| Total Unrestricted | funds | 2,822,914 | 642,322 | (577,666) | 2,887,570 | |
| Restricted funds | ||||||
| Gifts for individuals | in need | 2,375 | (2,375) | |||
| Special Offering - Covid needs | 25,710 | (750) | 24,960 | |||
| Future Fund | 194,181 | 37,890 | 232,071 | |||
| LCP cash grants for | building | |||||
| development | 1,302,387 | 1,302,387 | ||||
| LCP transfer ofVGL for | ||||||
| building development |
611,613 | 611,613 | ||||
| LBBDgrant re Ukraine host | ||||||
| sUpport | 4,500 | (1,444) | 3,056 | |||
| External funding for |
building | |||||
| development | 171,000 | 171,000 | ||||
| 2,133,891 | 215,765 | (4,569) | 2,345,087 | |||
| Total offunds | 4,956,805 | 858,087 | (582,235) | 5,232,657 |
| Statement offunds | - prior yea | r | |||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at | Transfers | 31 March | |||||
| 1 April 2021 f |
Income f. |
Expenditure | f | in/out f. |
2022 f. |
||
| Unrestricted funds |
|||||||
| Designated funds |
|||||||
| Main hall development | 2,531,334 | 103,001 | 2,634,335 | ||||
| General funds | |||||||
| General funds | 150,000 | 586,907 | (445,327) | (103,001) | 188,579 | ||
| Total Unrestricted | funds | 2,681,334 | 586,907 | (445,327) | 2,822,914 | ||
| Restricted funds | |||||||
| Gifts for individuals | in need | 2,583 | (2,583) | ||||
| Special Offering - Covid needs | 25,710 | 25,710 | |||||
| Future Fund |
194,181 | 194,181 | |||||
| LCP cash grants for | building | ||||||
| development | 1,302,387 | 1,302,387 | |||||
| LCP transfer ofVGL for | |||||||
| building development |
611,613 | 611,613 | |||||
| LBBDgrant re Ukraine host | |||||||
| sUpport | |||||||
| External funding for |
building | ||||||
| development | |||||||
| 25,710 | 2,110,764 | (2,583) | 2,133,891 | ||||
| Total offunds | 2,707,044 | 2,697,671 | (447,910) | 4,956,805 |
| Summary | offunds -current ye |
ar | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | 31 March | ||||
| April 2022 | Income f |
Expenditure f |
in/outf | 2023 | ||
| Designated | funds | 2,634,335 | 103,235 | 2,737,570 | ||
| General funds | 188,579 | 642,322 | (57'7,666) | (103,235) | 150,000 | |
| Restricted | funds | 2,133,891 | 215,765 | (4,569) | 2,345,087 | |
| 4,956,805 | 858,087 | (582,235) | 5,232,657 | |||
| Summary | offunds - prior year | |||||
| Balance at | ||||||
| Balance at | Transfers | 31 March | ||||
| 1 Apnl 2021f | Income f |
Expenditure f |
IIl/Out | 2022f | ||
| Designated | funds | 2,531,334 | 103,001 | 2,634,335 | ||
| General funds | 150,000 | 586,907 | (445,327) | (103,001) | 186,579 | |
| Restncted | funds | 25,710 | 2,110,764 | (2,583) | 2,133,891 | |
| 2,707,044 | 2,697,671 | (447,910) | 4,956,805 |
| year end Analysis Analysis |
ed 31 March 2023 ofnet assets between funds of net assets between funds - current year |
|||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2023f | 2023f | 2023f | ||
| Tangible fixed assets | 1,220,579 | 1,220,679 | ||
| Intangible | fixed assets | (74,752) | (74,752) | |
| Investment | property | 794,000 | 794,000 | |
| Current assets | 1,057,637 | 2,345,087 | 3,402,724 | |
| Creditors | due within one year | (109,894) | (109,894) | |
| Total | 2,887,570 | 2,345,087 | 5,232,657 | |
| Analysis | of net assets between funds - prior year | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022f | 2022f | ||
| Tangible fixed assets | 1,190,222 | 1,190,222 | ||
| Intangible | fixed assets | (83,461) | (83,461) | |
| Investment | property | 794,000 | 794,000 | |
| Current assets | 1,050,141 | 2,133,891 | 3,184,032 | |
| Creditors | due within one year | (127,988) | (127,988) | |
| Ttl | 2,822,914 | 2,133,891 | 4,956,805 |
| Group | Group | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2023f | 2022f | |||||||||
| Net income for the | year (as per Statement | of Financial | Activities) | 275,852 | 2,249,761 | |||||
| Adjustments for: |
||||||||||
| Depreciation charges |
5,875 | 4,812 | ||||||||
| Amortisation charges |
(8,709) | (3,629) | ||||||||
| Dividends, interests |
and rents from | investments | (19,453) | (4,625) | ||||||
| Decrease/(increase) | in debtors | 178,587 | (192,970) | |||||||
| Increase/(decrease) | in creditors | (18,094) | 111,199 | |||||||
| Net cash provided | by operating | activities | 414,058 | 2,164,546 | ||||||
| 24. | Analysis ofcash | and | cash equivalents | |||||||
| Group | Group | |||||||||
| 2023f | 2022 f. |
|||||||||
| Cash in hand | 3,360,682 | 2,963,403 | ||||||||
| Total cash and cash | equivalents | 3,360,682 | 2,963,403 | |||||||
| 25. | Analysis ofchanges | in net debt | ||||||||
| At 1 April | At 31 March | |||||||||
| f 2022 |
Cash flows f |
2023 | ||||||||
| Cash at bank and | in | hand | 1,962,344 | 397,279 | 2,359,623 | |||||
| Liquid investments | 1,001,059 | 1,001,059 | ||||||||
| 2,963,403 | 397,279 | 3,360,682 |
| The following | was a subsi | diary undertaking o |
diary undertaking o |
fthe Charity: | fthe Charity: | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Name | Company | Registered | office or | principal | Principal | activity | ||||
| number | place ofbusiness | |||||||||
| Valence Group Limited | 00478943 | Lifeline House, 25 Neville Dagenham, Essex, RM8 |
Road, 3QS |
Property | management | |||||
| Class of | Holding | Included | in | |||||||
| shares | consolidation | |||||||||
| Ordinary | 100'k Yes | |||||||||
| The financial | results of the subsidiary | for the | year were: | |||||||
| Name | Income 6 |
Expenditure | 6 | Profit/(Loss) ISurplus/ |
Net assets 6 |
|||||
| (Deficit) for | ||||||||||
| the year | ||||||||||
| 8 | ||||||||||
| Valence Group Limited | 141,322 | (92,498) | 48,824 | 721,607 |