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|||||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|
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|||||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|
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||||||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|||
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|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|
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|||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||
##
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||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||
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|||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||
##
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##
||||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||
##
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##
||||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.|
##
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##
|||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|
##
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##
||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|
##
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##
##
|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|