REGISTERED COMPANY NUMBER: 07065815 (England and Wales) REGISTERED CHARITY NUMBER: 1136671
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
FOR
HEROPRENEURS
Banks Cooper Associates Limited 21 Marina Court Castle Street Hull HU1 1TJ
HEROPRENEURS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
| Page | |
|---|---|
| Reference and Administratve Details | 1 |
| Report of the Trustees | 2 to 3 |
| Statement of Trustees' Responsibilites | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Actvites | 6 |
| Balance Sheet | 7 |
| Cash Flow Statement | 8 |
| Notes to the Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10 to 15 |
| Detailed Statement of Financial Actvites | 16 |
HEROPRENEURS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 NOVEMBER 2022
PATRON Lieutenant General Dick Applegate CB, OBE TRUSTEES S A Banks-Cooper VR, FCMA Lieutenant General T R Copinger-Symes CBE D C Lachowicz (resigned 30.11.22) P Mountford FCA – Chairman D S Nicol BSc(Hons) MSc(Fin) REGISTERED OFFICE 21 Marina Court Hull HU1 1TJ REGISTERED COMPANY NUMBER 07065815 (England and Wales) REGISTERED CHARITY NUMBER 1136671 INDEPENDENT EXAMINER Banks Cooper Associates Limited 21 Marina Court Castle Street Hull HU1 1TJ
Page 1
HEROPRENEURS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022
The Trustees who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 30 November 2022. The Trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
In summary the objects of the Charity are restricted to the prevention or relief of financial hardship among former serving members of the Armed Forces of the Crown and their dependents by providing financial assistance and support services designed to enable such individuals to establish, grow and sustain a business idea, and to the promotion of the efficiency of the Armed Forces by assisting with the resettlement of former serving members of the Armed Forces of the Crown and their readjustment to civilian life.
Our mission is to empower new entrepreneurs from the extended military community to achieve their business ambitions. Through our high-quality mentoring programme, we enable business owners from a wide variety of industries and backgrounds to set up and run innovative and sustainable businesses that contribute to the good of society. Working with former and serving members of the military community and their families, we equip our mentees with the practical skills and knowledge needed to thrive in business.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Heropreneurs supported 198 businesses from the UK military community in the financial year through our mentoring programme, an increase of 8 on the same period in the previous year. The number of mentors supporting these beneficiaries grew by one to 76, a consequence of 14 new mentors joining and 13 mentors leaving the programme, a healthy refreshment of the mentoring pool. Mentors typically leave the programme due to time commitments elsewhere, and I would like to sincerely thank all of our mentors who have provided their time and expertise over the past year.
During the last year the Charity successfully held its first physical awards ceremony since the COVID-19 pandemic at the Imperial War Museum. Heropreneurs takes every opportunity to encourage the personal growth, celebrate success and the achievements within our community of entrepreneurs and business owners. 9 awards were presented to a range of winners to celebrate the achievements of the military community in the commercial world. I would particularly like to thank our sponsors who made this possible, including Warwick Business School, Goldman Sachs, Barclays Eagle Labs, Banks Cooper Associates, Amazon Web Services, the Veterans’ Foundation and Brigantes.
During the last year the Trustees took the decision to reduce the size of the central team whilst at the same time maintaining and preserving the vital service provided by its Mentoring Programme which is at the heart of the organisation. I would like to thank everyone that has supported and worked for the charity during this period. We have ensured that the service provided throughout is of the highest standard, without personal commercial gain, delivering expert and independent advice to our beneficiaries.
FINANCIAL REVIEW
Heropreneurs' income for the year was £130,284 (£106,725 in 2021). The Charity's costs increased from the prior year mainly due to the employment of a team and an in-person awards event. The Charity recorded a loss of £94,842 (2022 a surplus of £2,932).
FUTURE PLANS
In the coming 12 months the Charity’s focus will continue as ever to develop the support and experience of our beneficiaries whilst ensuring that it continues to have the financial resources to do this.
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HEROPRENEURS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Heropreneurs is established as a company limited by guarantee and is a Registered Charity with the Charity Commission (No 1136671). The affairs of Heropreneurs are governed by its Memorandum and Articles of Association. The liability of the members in the event of Heropreneurs being wound up is limited to a sum not exceeding £1 per member.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees, who are also Directors of the Company, are selected with a view to ensuring that there is an appropriate balance of experience relevant to the needs of the Charity. New directors may be appointed either by the existing Directors or by a resolution of members. Each year one third of the Directors, chosen by length of service, must retire by rotation and may be re-elected at the Annual General Meeting.
Approved by order of the Board of Trustees on 18 August 2023 and signed on its behalf by:
P Mountford - Chairman
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HEROPRENEURS
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2022
The Trustees (who are also the Directors of Heropreneurs for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing those financial statements, the Trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
HEROPRENEURS
Independent examiner's report to the Trustees of Heropreneurs ('the Company')
I report to the Charity Trustees on my examination of the accounts of the Company for the year ended 30 November 2022.
Responsibilities and basis of report
As the Charity's Trustees of the Company (and also its Directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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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the accounts 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 accounts to be reached.
Tracy Hutty
Banks Cooper Associates Limited 21 Marina Court
Castle Street Hull HU1 1TJ
18 August 2023
Page 5
HEROPRENEURS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donatons and legacies 19,478 Charitable actvites Heropreneurs Awards, other events and workshops 80,797 Investment income 2 9 Total 100,284 EXPENDITURE ON Raising funds 610 Charitable actvites Heropreneurs Awards, other events and workshops 81,845 General administratve costs 71,691 Other 21,397 Total 175,543 NET INCOME/(EXPENDITURE) (75,259) RECONCILIATION OF FUNDS Total funds brought forward 83,438 TOTAL FUNDS CARRIED FORWARD 8,179 |
30.11.22 30.11.21 Restricted Total Total funds funds funds £ £ £ 30,000 49,478 66,487 - 80,797 40,235 - 9 3 30,000 130,284 106,725 - 610 908 - 81,845 36,552 49,583 121,274 58,542 - 21,397 7,791 49,583 225,126 103,793 (19,583) (94,842) 2,932 30,000 113,438 110,506 10,417 18,596 113,438 |
30.11.22 30.11.21 Restricted Total Total funds funds funds £ £ £ 30,000 49,478 66,487 - 80,797 40,235 - 9 3 30,000 130,284 106,725 - 610 908 - 81,845 36,552 49,583 121,274 58,542 - 21,397 7,791 49,583 225,126 103,793 (19,583) (94,842) 2,932 30,000 113,438 110,506 10,417 18,596 113,438 |
|---|---|---|
| 106,725 | ||
| 908 36,552 58,542 7,791 |
||
| 103,793 | ||
| 2,932 110,506 |
||
| 113,438 |
The notes form part of these financial statements
Page 6
HEROPRENEURS
BALANCE SHEET 30 NOVEMBER 2022
| 30.11.22 | 30.11.21 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 8 | 6,000 | 6,000 |
| CURRENT ASSETS | |||
| Debtors | 9 | 873 | 27,365 |
| Cash at bank | 29,064 | 101,435 | |
| 29,937 | 128,800 | ||
| CREDITORS | |||
| Amounts falling due within one year | 10 | (17,341) | (21,362) |
| NET CURRENT ASSETS | 12,596 | 107,438 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 18,596 | 113,438 | |
| NET ASSETS | 18,596 | 113,438 | |
| FUNDS | 12 | ||
| Unrestricted funds | 8,179 | 83,438 | |
| Restricted funds | 10,417 | 30,000 | |
| TOTAL FUNDS | 18,596 | 113,438 |
The Charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.
The members have not required the Company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for
(a) ensuring that the Charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charitable Company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 August 2023 and were signed on its behalf by:
P Mountford - Chairman
The notes form part of these financial statements
Page 7
HEROPRENEURS
CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2022
| 30.11.22 | 30.11.21 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash fows from operatng actvites | |||
| Cash generated from operatons | 1 | (71,986) | (6,702) |
| Net cash used in operatng actvites | (71,986) | (6,702) | |
| Cash fows from investng actvites | |||
| Purchase of tangible fxed assets | (394) | - | |
| Interest received | 9 | 3 | |
| Net cash (used in)/provided by investng actvites | (385) | 3 | |
| Change in cash and cash equivalents in the | |||
| reportng period | (72,371) | (6,699) | |
| Cash and cash equivalents at the beginning of | |||
| the reportng period | 101,435 | 108,134 | |
| Cash and cash equivalents at the end of the | |||
| reportng period | 29,064 | 101,435 |
The notes form part of these financial statements
Page 8
HEROPRENEURS
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| 30.11.22 | 30.11.21 | |
|---|---|---|
| £ | £ | |
| Net (expenditure)/income for the reportng period (as per the Statement of | ||
| Financial Actvites) | (94,842) | 2,932 |
| Adjustments for: | ||
| Depreciaton charges | 394 | - |
| Interest received | (9) | (3) |
| Decrease/(increase) in debtors | 26,492 | (27,365) |
| (Decrease)/increase in creditors | (4,021) | 17,734 |
| Net cash used in operatons | (71,986) | (6,702) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.12.21 Cash fow At £ £ Net cash Cash at bank 101,435 (72,371) 101,435 (72,371) Total 101,435 (72,371) |
30.11.22 £ 29,064 |
|---|---|
| 29,064 | |
| 29,064 |
The notes form part of these financial statements
Page 9
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the Charitable Company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Computer equipment - 100% on cost
Taxation
The Charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The Charitable Company operates a defined contribution pension scheme. Contributions payable to the Charitable Company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.11.22 | 30.11.21 | |
| £ | £ | |
| Deposit account interest | 9 | 3 |
Page 10
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.11.22 | 30.11.21 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciaton - owned assets | 394 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no Trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021.
Trustees' expenses
Trustees were reimbursed expenses of £185 for the year ended 30 November 2022. There were no Trustees expenses for the year ended 30 November 2021.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 30.11.22 | 30.11.21 | |||
|---|---|---|---|---|
| Administraton & management | 4 | 2 | ||
| No employees received emoluments in excess of £60,000. | ||||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total | ||
| fund | funds | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donatons and legacies | 16,487 | 50,000 | 66,487 | |
| Charitable actvites | ||||
| Heropreneurs Awards, other events and | ||||
| workshops | 40,235 | - | 40,235 | |
| Investment income | 3 | - | 3 | |
| Total | 56,725 | 50,000 | 106,725 | |
| EXPENDITURE ON | ||||
| Raising funds | 908 | - | 908 | |
| Charitable actvites | ||||
| Heropreneurs Awards, other events and | ||||
| workshops | 36,552 | - | 36,552 | |
| General administratve costs | 8,542 | 50,000 | 58,542 | |
| Other | 7,791 | - | 7,791 | |
| Total | 53,793 | 50,000 | 103,793 | |
| NET INCOME | 2,932 | - | 2,932 |
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HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | Restricted | Total |
||
|---|---|---|---|---|
| fund | funds | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 80,506 | 30,000 | 110,506 | |
| TOTAL FUNDS CARRIED FORWARD | 83,438 | 30,000 | 113,438 | |
| 7. | TANGIBLE FIXED ASSETS | |||
| Computer | ||||
| equipment | ||||
| £ | ||||
| COST | ||||
| Additons | 394 | |||
| DEPRECIATION | ||||
| Charge for year | 394 | |||
| NET BOOK VALUE | ||||
| At 30 November 2022 | - | |||
| At 30 November 2021 | - | |||
| 8. | FIXED ASSET INVESTMENTS | |||
| Unlisted | ||||
| investments | ||||
| £ | ||||
| MARKET VALUE | ||||
| At 1 December 2021 and 30 November 2022 | 6,000 | |||
| NET BOOK VALUE | ||||
| At 30 November 2022 | 6,000 | |||
| At 30 November 2021 | 6,000 |
There were no investment assets outside the UK.
Investments are programme related investments, made directly in pursuit of the Company's charitable purposes.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| 30.11.22 | 30.11.21 | |
| £ | £ | |
| Other debtors | - | 1,583 |
| VAT | 341 | 4,347 |
| Prepayments and accrued income | 532 | 21,435 |
| 873 | 27,365 |
Page 12
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 30.11.22 | 30.11.21 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Trade creditors | 11,189 | 20,855 | ||||
| Other creditors | 6,152 | 332 | ||||
| Accruals and deferred income | - | 175 | ||||
| 17,341 | 21,362 | |||||
| 11. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||||
| 30.11.22 | 30.11.21 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| £ | £ | £ | £ | |||
| Investments | 6,000 | - | 6,000 | 6,000 | ||
| Current assets | 19,520 | 10,417 | 29,937 | 128,800 | ||
| Current liabilites | (17,341) | - | (17,341) | (21,362) | ||
| 8,179 | 10,417 | 18,596 | 113,438 | |||
| 12. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| At | movement | At | ||||
| 1.12.21 | in funds | 30.11.22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 83,438 | (75,259) | 8,179 | |||
| Restricted funds | ||||||
| Core Services to Benefciaries fund | 30,000 | (19,583) | 10,417 | |||
| TOTAL FUNDS | 113,438 | (94,842) | 18,596 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 100,284 | (175,543) | (75,259) | |||
| Restricted funds | ||||||
| Core Services to Benefciaries fund | 30,000 | (49,583) | (19,583) | |||
| TOTAL FUNDS | 130,284 | (225,126) | (94,842) |
Page 13
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Staf fund Core Services to Benefciaries fund TOTAL FUNDS Comparatve net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Staf fund Core Services to Benefciaries fund TOTAL FUNDS |
Net At movement At 1.12.20 in funds 30.11.21 £ £ £ 80,506 2,932 83,438 30,000 (30,000) - - 30,000 30,000 30,000 - 30,000 110,506 2,932 113,438 Incoming Resources Movement resources expended in funds £ £ £ 56,725 (53,793) 2,932 20,000 (50,000) (30,000) 30,000 - 30,000 50,000 (50,000) - 106,725 (103,793) 2,932 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Staf fund Core Services to Benefciaries fund TOTAL FUNDS |
Net At movement At 1.12.20 in funds 30.11.22 £ £ £ 80,506 (72,327) 8,179 30,000 (30,000) - - 10,417 10,417 30,000 (19,583) 10,417 110,506 (91,910) 18,596 |
|---|---|
Page 14
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Staf fund Core Services to Benefciaries fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 157,009 (229,336) (72,327) 20,000 (50,000) (30,000) 60,000 (49,583) 10,417 80,000 (99,583) (19,583) 237,009 (328,919) (91,910) |
|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2022.
14. ULTIMATE CONTROLLING PARTY
The Company has no ultimate controlling party.
Page 15
HEROPRENEURS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2022
| 30.11.22 | 30.11.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donatons and legacies | ||
| Donatons | 49,478 | 66,487 |
| Investment income | ||
| Deposit account interest | 9 | 3 |
| Charitable actvites | ||
| Heropreneurs Awards, other events and workshops | 80,797 | 40,235 |
| Total incoming resources | 130,284 | 106,725 |
| EXPENDITURE | ||
| Raising donatons and legacies | ||
| Costs of generatng donatons | 216 | 908 |
| Other trading actvites | ||
| Computer equipment | 394 | - |
| Charitable actvites | ||
| Events and publicity | 74,555 | 19,547 |
| Consultng | 2,675 | 15,484 |
| Travel costs | 4,615 | 1,521 |
| 81,845 | 36,552 | |
| Other | ||
| Sofware, IT support and related costs | 7,662 | 6,266 |
| Sundry expenses | 2,726 | 322 |
| Other Legal and professional | 7,009 | 1,203 |
| Independent examinaton fees | 4,000 | - |
| 21,397 | 7,791 | |
| Support costs | ||
| Management | ||
| Wages | 113,847 | 58,185 |
| Social security | 6,107 | - |
| Pensions | 1,320 | 357 |
| 121,274 | 58,542 | |
| Total resources expended | 225,126 | 103,793 |
| Net (expenditure)/income | (94,842) | 2,932 |
This page does not form part of the statutory financial statements
Page 16