Charity registration number 1135528
Company registration number 07137899 (England and Wales)
TALITHA KOUM COMMUNITY LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
TALITHA KOUM COMMUNITY LTD
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | G Baker |
|---|---|
| Y Cross | |
| L Ramsey | |
| A Williams | |
| I Cameron | |
| P G Harper | |
| Charity number | 1135528 |
| Company number | 07137899 |
| Registered office | The Hope Centre |
| Wash Lane | |
| Witnesham | |
| Ipswich | |
| Suffolk | |
| IP6 9JE | |
| Independent examiner | LB Group Advisory Limited (Ipswich) |
| 80 Compair Crescent | |
| Ipswich | |
| Suffolk | |
| UK | |
| IP2 0EH |
TALITHA KOUM COMMUNITY LTD
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 - 15 |
TALITHA KOUM COMMUNITY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023
The trustees present their annual report and financial statements for the year ended 30 November 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019)
Objectives and activities
Talitha Koum Community Limited has a Christian mission to reach out with love, compassion and practical support to women who are vulnerable because of circumstance. Based near Ipswich in Suffolk we provide:
Supported housing for women who are vulnerable due to life-challenges often leading to chaos and homelessness including a history of substance dependency or alcohol use, homelessness, mental health challenges and risk of abuse, violence, or persecution.
Our purpose-built centre provides supported accommodation in a unique setting within a 2-acre rural site known as The TK Hope Centre.
The trustees have considered the Charity Commission's guidance on public benefit, including the guidance, 'Public Benefit; running a charity' (PB2).
Achievements and performance
This year has been one of further change for the charity with the retirement of our Director Gill Dean in March. The trustees have taken this opportunity to review our managerial structures and consequently our Service Manager, Tina Prince, has taken on most of the duties undertaken by the Director and this post will not be filled at this time.
Following a review the staffing of the Hope Centre has been changed to provide 7 day a week staff coverage, this has been of significant benefit to our residents giving them much needed support over the weekends. This in turn has reduced some of the tensions that could sometimes emerge when the centre was not staffed, this is enabling residents to make more consistent progress in their journey to independent living.
During this year our occupancy rate has increased to an average of 8.8 residents per month with the second half of the year at a stable 10.2.
We have been pleased to help 17 women who benefited from time in our accommodation this year.
Our outcomes for residents continue to be very good and have numerous testimonies from agencies and residents alike as to the positive impact we are having on Women’s lives.
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TALITHA KOUM COMMUNITY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
Financial review
The accounts show that the charity had income of £191,847 (2022: £151,210) against expenditure of £192,111 (2022: £141,177). Income in the current financial period includes a one-off legacy donation of just over £50,000. There was also an increase in housing benefit income of just over £22,000 due to increased occupancy in the period. Of total income, donations, gifts, grants and fundraising represent 44% (2022: 47%), and housing support and resident income 56% (2021: 53%). This highlights our dependency on donations and grants, for which we are extremely grateful. Our operational cost increase was largely due to an increase in staff costs, including costs to provide additional weekend cover.
We also installed PV solar electric panels and batteries at a cost of £36,500 to reduce energy costs and reduce our environmental impact. This was funded using cash reserves in our Designated Fund for site development.
Unrestricted funds at the end of the year are sufficient to fund the ongoing operations.
Our reserves policy has been increased to £42,000 of unrestricted funds at any time to cover potential liabilities. This figure represents approximately 3 months of forecast operational costs. We will continue to review and update our reserves policy as our service and financial position evolve.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Aims 2023/24
The need for our services remains high (sadly) with referral volumes far outstripping our available rooms hence we need to press forward with the next stage in the development of our site so that we can help more women in need.
We have approved plans to demolish the barn onsite to make space for an additional 5 rooms. We are working closely with architects to adapt plans for this next step which may include some self-contained living accommodation which could be used as a stepping stone to help our residents move to independent living. This will be a further significant investment in our site for which we will need to build our reserves and undertake major fund-raising initiatives to bring to fruition. These plans will be finalised early in 2024 and will be the last step in the current development of our wonderful site in Witnesham.
Once the site development work is concluded our staffing will need to be bolstered to provide the necessary cover for 16 residents. We are also considering offering the opportunity to live at the Hope Centre to young women leaving the care system. We hope to reduce the risk to this group which can so often can find the sudden transition from care to independent living very difficult. We can give them the opportunity to have supported accommodation as a “halfway house” to full independence.
As we look to the new year, we wish to strengthen our cross-agency collaboration in order to further improve the long-term outcomes for our residents. A focus on increasing occupancy in the year ahead is also key as this provides a strong basis for our future financial planning.
Structure, governance and management
The charity is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
G Baker
Y Cross
L Ramsey A Williams I Cameron P G Harper
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TALITHA KOUM COMMUNITY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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TALITHA KOUM COMMUNITY LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
Other matters
We are thankful to the wide range of Community Groups, Churches, friends, individuals, and other funders that have supported us either financial or though giving their time throughout the year.
We had another well supported and successful Golf Day hosted by Superstructures this year from whom we have enjoyed long term support and collaboration.
As a charity with a strong & clear Christian ethos we are strongly supported in prayer from our wide base of supporters be they individuals or churches, this is a vital foundation for our work
The trustees' report was approved by the Board of Trustees.
..............................
G Baker Trustee Dated: .........................
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TALITHA KOUM COMMUNITY LTD
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TALITHA KOUM COMMUNITY LTD
I report to the trustees on my examination of the financial statements of Talitha Koum Community Ltd (the charity) for the year ended 30 November 2023.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Christopher Annis, FCA LB Group Advisory Limited (Ipswich)
80 Compair Crescent Ipswich Suffolk IP2 0EH UK
Dated: .........................
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TALITHA KOUM COMMUNITY LTD
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2023
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 84,489 | 63,927 |
| Charitable activities | 4 | 102,612 | 80,599 |
| Other trading activities | 5 | 965 | 3,885 |
| Investments | 6 | 1,032 | 92 |
| Other income | 7 | 2,749 | 2,707 |
| Total income | 191,847 | 151,210 | |
| Expenditure on: | |||
| Raising funds | 8 | 25 | 250 |
| Charitable activities | 9 | 192,086 | 140,927 |
| Total expenditure | 192,111 | 141,177 | |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (264) | 10,033 | |
| Fund balances at 1 December 2022 | 659,545 | 649,512 | |
| Fund balances at 30 November 2023 | 659,281 | 659,545 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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TALITHA KOUM COMMUNITY LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023
| Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Income funds Unrestricted funds Designated funds 16 General unrestricted funds |
2023 £ 3,936 126,212 130,148 (5,482) 49,298 609,983 |
£ 534,615 124,666 659,281 659,281 659,281 |
2022 £ 1,402 165,303 166,705 (3,656) 85,759 573,786 |
£ 496,496 163,049 |
|---|---|---|---|---|
| 659,545 | ||||
| 659,545 | ||||
| 659,545 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
G Baker Trustee
Company registration number 07137899
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
1 Accounting policies
Charity information
Talitha Koum Community Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is The Hope Centre, Wash Lane, Witnesham, Ipswich, Suffolk, IP6 9JE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds earmarked for a particular project.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Liabilities are recognised as resources expended where there is a legal or constructive obligation committing the Charity to the expenditure.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Not depreciated Fixtures and fittings 25 % Reducing Balance Computers 20 % Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 81,555 | 62,889 |
| Grants received | 2,934 | 1,038 |
| 84,489 | 63,927 |
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
| 4 | Charitable activities | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Support housing service income | 102,612 | 80,599 | |
| Charitable trading income | |||
| 5 | Other trading activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fundraising events | 965 | 3,885 | |
| 6 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Interest receivable | 1,032 | 92 | |
| 7 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other income | 2,749 | 2,707 |
Other income represents monies received from the residents to purchase shopping and items on their behalf. The associated costs of this is included within Residential operating costs.
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
8 Raising funds
| 9 | Unrestricted Unrestricted funds funds 2023 2022 £ £ Fundraising and publicity Other fundraising costs 25 250 25 250 Charitable activities 2023 2022 £ £ Staff costs 137,517 105,055 Depreciation and impairment 247 318 Insurance 2,523 2,516 IT Expenses 114 217 Office Expenses 1,632 2,226 Rent & ground rent 2,051 524 Sundry expenses 169 468 Training expenses 190 105 Travel expenses and Subsistence 4,931 3,981 Women Together Group Expenses - 10 Residential centre operating costs 39,150 22,710 188,524 138,130 Share of support costs (see note 10) 3,562 2,797 192,086 140,927 |
Unrestricted Unrestricted funds funds 2023 2022 £ £ Fundraising and publicity Other fundraising costs 25 250 25 250 Charitable activities 2023 2022 £ £ Staff costs 137,517 105,055 Depreciation and impairment 247 318 Insurance 2,523 2,516 IT Expenses 114 217 Office Expenses 1,632 2,226 Rent & ground rent 2,051 524 Sundry expenses 169 468 Training expenses 190 105 Travel expenses and Subsistence 4,931 3,981 Women Together Group Expenses - 10 Residential centre operating costs 39,150 22,710 188,524 138,130 Share of support costs (see note 10) 3,562 2,797 192,086 140,927 |
|---|---|---|
| 250 | ||
| 2022 £ 105,055 318 2,516 217 2,226 524 468 105 3,981 10 22,710 |
||
| 138,130 2,797 |
||
| 140,927 |
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
10 Support costs
| Independent Examiners Fee Legal fees Payroll Costs Analysed between Charitable activities |
Support costs Governance costs £ £ 1,230 - 1,408 - 924 - 3,562 - 3,562 - |
2023 £ 1,230 1,408 924 3,562 3,562 |
Support costs Governance costs £ £ 1,068 - 1,328 - 401 - 2,797 - 2,797 - |
2022 £ 1,068 1,328 401 |
|---|---|---|---|---|
| 2,797 | ||||
| 2,797 |
11 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
12 Employees
The average monthly number of employees during the year was:
| Full time employees Part time employees Total Employment costs Wages and salaries Other pension costs |
2023 Number 4 7 11 2023 £ 134,739 2,778 137,517 |
2022 Number - 7 |
|---|---|---|
| 7 | ||
| 2022 £ 102,637 2,418 |
||
| 105,055 |
There were no employees whose annual remuneration was more than £60,000.
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
| 13 Tangible fixed assets Freehold land and buildings Fixtures and fittings Computers £ £ £ Cost At 1 December 2022 495,542 574 698 Additions 38,367 - - At 30 November 2023 533,909 574 698 Depreciation and impairment At 1 December 2022 - 143 175 Depreciation charged in the year - 108 140 At 30 November 2023 - 251 315 Carrying amount At 30 November 2023 533,909 323 383 At 30 November 2022 495,542 431 523 |
Total £ 496,814 38,367 |
|---|---|
| 535,181 | |
| 318 248 |
|
| 566 | |
| 534,615 | |
| 496,496 |
The additions cost as stated above in respect to freehold land and buildings relates to costs incurred in the purchase and installation of solar panels and battery storage.
| 14 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income 15 Creditors: amounts falling due within one year Accruals and deferred income |
2023 £ 3,186 750 3,936 2023 £ 5,482 |
2022 £ 652 750 |
|---|---|---|
| 1,402 | ||
| 2022 £ 3,656 |
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TALITHA KOUM COMMUNITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
16 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement | ||||
|---|---|---|---|---|
| in funds | ||||
| Incoming | Balance at | Resources | Balance at | |
| resources | 1 December | expended | 30 November | |
| 2022 | 2023 | |||
| £ | £ | £ | £ | |
| Funds allocated to future expansion of site | - | 85,759 | (36,461) | 49,298 |
| - | 85,759 | (36,461) | 49,298 |
The designated funds have been allocated to the future development of the site. There are plans to invest this in 2023 in a Solar PV Solution to reduce energy costs and reduce our environmental impact.
17 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
The land which is leased to the charity on which the charity is run is jointly owned by Y Cross, a trustee of the charity. The lease terms limit the rental figure to a maximum of the current rental figure or the open market rental of the land for agricultural purposes only and therefore there are no beneficial terms resulting from Y Cross's position as a trustee.
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