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 2023
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 2023
| Page | |
|---|---|
| Reference and Administra�ve Details | 1 |
| Report of the Trustees | 2 to 3 |
| Statement of Trustees' Responsibili�es | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Ac�vi�es | 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 Ac�vi�es | 16 |
HEROPRENEURS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 NOVEMBER 2023
PATRON Lieutenant General Dick Applegate CB, OBE TRUSTEES S A Banks-Cooper VR, FCMA Lieutenant General T R Copinger-Symes CBE P Moun�ord MBE 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 2023
statements of the charity for the year ended 30 November 2023. The Trustees have adopted the provisions of Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019).
OBJECTIVES AND ACTIVITIES
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 promo�on of the efficiency of the Armed Forces by assis�ng with the resetlement 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 ambi�ons. Through our high-quality mentoring programme, we enable business owners from a wide variety of industries and backgrounds to set up and run innova�ve 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 prac�cal skills and knowledge needed to thrive in business.
when reviewing the Charity's aims and objec�ves and in planning future ac�vi�es.
ACHIEVEMENT AND PERFORMANCE
number of mentors suppor�ng these beneficiaries was 76, with 15 new mentors joining and 18 leaving the programme, a healthy refreshment of the mentoring pool. Mentors typically leave the programme due to �me commitments elsewhere, and I would like to sincerely thank all of our mentors who have provided their �me and exper�se over the past year.
During the last year the Charity successfully held its physical awards ceremony at the Warwick Business School. Heropreneurs takes every opportunity to encourage the personal growth, celebrate success and the achievements within our community of entrepreneurs and business owners. 5 awards were presented to a range of winners to celebrate the achievements of the military community in the commercial world. I would par�cularly like to thank our sponsors Warwick Business School, Goldman Sachs, and Banks Cooper Associates, who made these awards possible.
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
FINANCIAL REVIEW
Heropreneurs' income for the year was £98,315 (£130,284 in 2022). The Charity's costs decreased from the prior year mainly due to a slimmed down central team and more modest but highly successful event celebra�ng the Heropreneurs Awards.
The Charity recorded a surplus of £20,842. (2022 a loss of £94,842).
FUTURE PLANS
ensuring that it con�nues to have the financial resources to do this. The Trustees are also currently in advanced discussions with a major military charity to merge the opera�ons of Heropreneurs with that charity. If this is completed it is hoped that it should lead to a significant expansion in the opera�ons of Heropreneurs and a large increase in the number of beneficiaries that the Charity can help.
Page 2
HEROPRENEURS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
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 Ar�cles of Associa�on. The liability of the members in the event of Heropreneurs being wound up is limited to a sum not exceeding £1 per member.
posi�on 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 preven�on and detec�on of fraud and other irregulari�es.
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 exis�ng Directors or by a resolu�on of members. Each year one third of the Directors, chosen by length of service, must re�re by rota�on and may be re-elected at the Annual General Mee�ng.
Approved by order of the board of trustees on 30 July 2024 and signed on its behalf by:
P Moun�ord MBE FCA - Chairman - Trustee
Page 3
HEROPRENEURS
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
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 Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).
affairs of the charitable company and of the incoming resources and applica�on 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 accoun�ng policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and es�mates that are reasonable and prudent;
-
con�nue in business.
posi�on 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 preven�on and detec�on of fraud and other irregulari�es.
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 examina�on of the accounts of the Company for the year ended 30 November 2023.
Responsibili�es 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 prepara�on of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
for independent examina�on, I report in respect of my examina�on of your charity's accounts as carried out under Sec�on 145 of the Chari�es Act 2011 ('the 2011 Act'). In carrying out my examina�on I have followed the Direc�ons given by the Charity Commission under Sec�on 145(5) (b) of the 2011 Act.
Independent examiner's statement
cause to believe:
-
accoun�ng records were not kept in respect of the Company as required by Sec�on 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accoun�ng requirements of Sec�on 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a mater considered as part of an independent examina�on; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prac�ce for accoun�ng and repor�ng by chari�es (applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other maters in connec�on with the examina�on to which aten�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tracy Huty
Banks Cooper Associates Limited 21 Marina Court Castle Street Hull HU1 1TJ
30 July 2024
Page 5
HEROPRENEURS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Dona�ons and legacies | 26,835 | 45,060 | 71,895 | 49,478 | |
| Charitable ac�vi�es | |||||
| Heropreneurs Awards, other events and workshops | 25,820 | - | 25,820 | 80,797 | |
| Investment income | 2 | 600 | - | 600 | 9 |
| Total | 53,255 | 45,060 | 98,315 | 130,284 | |
| EXPENDITURE ON | |||||
| Raising funds | 216 | - | 216 | 610 | |
| Charitable ac�vi�es | |||||
| Heropreneurs Awards, other events and workshops | 2,010 | 22,540 | 24,550 | 81,845 | |
| General administra�ve costs | 30 | 27,942 | 27,972 | 121,274 | |
| Other | 23,289 | 1,446 | 24,735 | 21,397 | |
| Total | 25,545 | 51,928 | 77,473 | 225,126 | |
| NET INCOME/(EXPENDITURE) | 27,710 | (6,868) | 20,842 | (94,842) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 8,179 | 10,417 | 18,596 | 113,438 | |
| TOTAL FUNDS CARRIED FORWARD | 35,889 | 3,549 | 39,438 | 18,596 |
Page 6
HEROPRENEURS
BALANCE SHEET 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 8 | 6,000 | 6,000 |
| CURRENT ASSETS | |||
| Debtors | 9 | 12,626 | 873 |
| Cash at bank | 25,970 | 29,064 | |
| 38,596 | 29,937 | ||
| CREDITORS | |||
| Amounts falling due within one year | 10 | (5,158) | (17,341) |
| NET CURRENT ASSETS | 33,438 | 12,596 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 39,438 | 18,596 | |
| NET ASSETS | 39,438 | 18,596 | |
| FUNDS | 12 | ||
| Unrestricted funds | 35,889 | 8,179 | |
| Restricted funds | 3,549 | 10,417 | |
| TOTAL FUNDS | 39,438 | 18,596 |
The charitable company is en�tled to exemp�on from audit under Sec�on 477 of the Companies Act 2006 for the year ended 30 November 2023.
accordance with Sec�on 476 of the Companies Act 2006.
The trustees acknowledge their responsibili�es for
- (a) ensuring that the charitable company keeps accoun�ng records that comply with Sec�ons 386 and 387 of the Companies Act 2006 and
(b) each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sec�ons 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 rela�ng to financial statements, so far as applicable to the charitable company.
companies regime.
by:
P Moun�ord MBE FCA - Chairman - Trustee
Page 7
HEROPRENEURS
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash fows from opera�ng ac�vi�es | |||
| Cash generated from opera�ons | 1 | (3,664) | (71,986) |
| Interest paid | (30) | - | |
| Net cash used in opera�ng ac�vi�es | (3,694) | (71,986) | |
| Cash fows from inves�ng ac�vi�es Purchase of tangible fxed assets |
- | (394) | |
| Interest received | 600 | 9 | |
| Net cash provided by/(used in) inves�ng ac�vi�es | 600 | (385) | |
| Change in cash and cash equivalents in the | |||
| repor�ng period | (3,094) | (72,371) | |
| Cash and cash equivalents at the beginning of the | |||
| repor�ng period | 29,064 | 101,435 | |
| Cash and cash equivalents at the end of the | |||
| repor�ng period | 25,970 | 29,064 |
Page 8
HEROPRENEURS
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2023
| 1. | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET | CASH FLOW FROM OPERATING | ACTIVITIES | |
|---|---|---|---|---|
| 30.11.23 | 30.11.22 | |||
| £ | £ | |||
| Net income/(expenditure) for the repor�ng period (as per | the Statement of | |||
| Financial Ac�vi�es) | 20,842 | (94,842) | ||
| Adjustments for: | ||||
| Deprecia�on charges | - | 394 | ||
| Interest received | (600) | (9) | ||
| Interest paid | 30 | - | ||
| (Increase)/decrease in debtors | (11,753) | 26,492 | ||
| Decrease in creditors | (12,183) | (4,021) | ||
| Net cash used in opera�ons | (3,664) | (71,986) | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.12.22 | Cash fow | At 30.11.23 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 29,064 | (3,094) | 25,970 | |
| 29,064 | (3,094) | 25,970 | ||
| Total | 29,064 | (3,094) | 25,970 |
Page 9
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
1. ACCOUNTING POLICIES
accordance with the Chari�es SORP (FRS 102) 'Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019)', Financial Repor�ng Standard 102 'The Financial Repor�ng Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost conven�on, with the excep�on of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Ac�vi�es once the charity has en�tlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabili�es are recognised as expenditure as soon as there is a legal or construc�ve obliga�on commi�ng the charity to that expenditure, it is probable that a transfer of economic benefits will be required in setlement and the amount of the obliga�on 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 atributed to par�cular headings they have been allocated to ac�vi�es on a basis consistent with the use of resources.
Computer equipment - 100% on cost
Taxa�on
The charity is exempt from corpora�on tax on its charitable ac�vi�es.
Fund accoun�ng
Unrestricted funds can be used in accordance with the charitable objec�ves at the discre�on of the trustees.
Restricted funds can only be used for par�cular restricted purposes within the objects of the charity. Restric�ons arise when specified by the donor or when funds are raised for par�cular restricted purposes.
pension scheme are charged to the Statement of Financial Ac�vi�es in the period to which they relate.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.11.23 | 30.11.22 | |
| £ | £ | |
| Deposit account interest | 600 | 9 |
Page 10
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 NOVEMBER 2023
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated a�er charging/(credi�ng):
| Net income/(expenditure) is stated a�er charging/(credi�ng): | |||
|---|---|---|---|
| 30.11.23 | 30.11.22 | ||
| £ | £ | ||
| Deprecia�on - owned assets | - | 394 |
4. TRUSTEES' REMUNERATION AND BENEFITS
30 November 2022.
Trustees' expenses
Trustees were reimbursed expenses of £91 for the year ended 30 November 2023 (2022 £185).
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 30.11.23 | 30.11.22 | |||
|---|---|---|---|---|
| Administra�on & management | 1 | 4 | ||
| 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 | ||||
| Dona�ons and legacies | 19,478 | 30,000 | 49,478 | |
| Charitable ac�vi�es | ||||
| Heropreneurs Awards, other events and workshops | 80,797 | - | 80,797 | |
| Investment income | 9 | - | 9 | |
| Total | 100,284 | 30,000 | 130,284 | |
| EXPENDITURE ON | ||||
| Raising funds | 610 | - | 610 | |
| Charitable ac�vi�es | ||||
| Heropreneurs Awards, other events and workshops | 81,845 | - | 81,845 | |
| General administra�ve costs | 71,691 | 49,583 | 121,274 | |
| Other | 21,397 | - | 21,397 | |
| Total | 175,543 | 49,583 | 225,126 | |
| NET INCOME/(EXPENDITURE) | (75,259) | (19,583) | (94,842) |
Page 11
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 NOVEMBER 2023
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - con�nued | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | funds | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 83,438 | 30,000 | 113,438 | |
| TOTAL FUNDS CARRIED FORWARD | 8,179 | 10,417 | 18,596 | |
| 7. | TANGIBLE FIXED ASSETS | |||
| Computer | ||||
| equipment | ||||
| £ | ||||
| COST | ||||
| At 1 December 2022 and 30 November 2023 | 394 | |||
| DEPRECIATION | ||||
| At 1 December 2022 and 30 November 2023 | 394 | |||
| NET BOOK VALUE | ||||
| At 30 November 2023 | - | |||
| At 30 November 2022 | - | |||
| 8. | FIXED ASSET INVESTMENTS | |||
| Unlisted | ||||
| investments | ||||
| £ | ||||
| MARKET VALUE | ||||
| At 1 December 2022 and 30 November 2023 | 6,000 | |||
| NET BOOK VALUE | ||||
| At 30 November 2023 | 6,000 | |||
| At 30 November 2022 | 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.
Page 12
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 NOVEMBER 2023
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
|---|---|---|---|---|---|---|
| 30.11.23 | 30.11.22 | |||||
| £ | £ | |||||
| Trade debtors | 12,000 | - | ||||
| Other debtors | 43 | - | ||||
| VAT | - | 341 | ||||
| Prepayments and accrued income | 583 | 532 | ||||
| 12,626 | 873 | |||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 30.11.23 | 30.11.22 | |||||
| £ | £ | |||||
| Trade creditors | 39 | 11,189 | ||||
| VAT | 155 | - | ||||
| Other creditors | 214 | 6,152 | ||||
| Accruals and deferred income | 4,750 | - | ||||
| 5,158 | 17,341 | |||||
| 11. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||||
| 30.11.23 | 30.11.22 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| £ | £ | £ | £ | |||
| Investments | 6,000 | - | 6,000 | 6,000 | ||
| Current assets | 35,047 | 3,549 | 38,596 | 29,937 | ||
| Current liabili�es | (5,158) | - | (5,158) | (17,341) | ||
| 35,889 | 3,549 | 39,438 | 18,596 | |||
| 12. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| At | movement | At | ||||
| 1.12.22 | in funds | 30.11.23 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 8,179 | 27,710 | 35,889 | |||
| Restricted funds | ||||||
| Core Services to Benefciaries fund | 10,417 | (6,868) | 3,549 | |||
| TOTAL FUNDS | 18,596 | 20,842 | 39,438 |
Page 13
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 NOVEMBER 2023
12. MOVEMENT IN FUNDS - con�nued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,255 | (25,545) | 27,710 |
| Restricted funds | |||
| Core Services to Benefciaries fund | 30,000 | (36,868) | (6,868) |
| Crea�ng Heropreneurs | 15,060 | (15,060) | - |
| 45,060 | (51,928) | (6,868) | |
| TOTAL FUNDS | 98,315 | (77,473) | 20,842 |
Compara�ves for movement in funds
| Unrestricted funds General fund Restricted funds Core Services to Benefciaries fund TOTAL FUNDS |
Net At movement At 1.12.21 in funds 30.11.22 £ £ £ 83,438 (75,259) 8,179 30,000 (19,583) 10,417 113,438 (94,842) 18,596 |
|---|---|
Compara�ve net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Core Services to Benefciaries fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 100,284 (175,543) (75,259) 30,000 (49,583) (19,583) 130,284 (225,126) (94,842) |
|---|---|
Page 14
HEROPRENEURS
NOTES TO THE FINANCIAL STATEMENTS - con�nued FOR THE YEAR ENDED 30 NOVEMBER 2023
12. MOVEMENT IN FUNDS - con�nued
A current year 12 months and prior year 12 months combined posi�on is as follows:
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1.12.21 | in funds | 30.11.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 83,438 | (47,549) | 35,889 |
| Restricted funds | |||
| Core Services to Benefciaries fund | 30,000 | (26,451) | 3,549 |
| TOTAL FUNDS | 113,438 | (74,000) | 39,438 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 153,539 | (201,088) | (47,549) |
| Restricted funds | |||
| Core Services to Benefciaries fund | 60,000 | (86,451) | (26,451) |
| Crea�ng Heropreneurs | 15,060 | (15,060) | - |
| 75,060 | (101,511) | (26,451) | |
| TOTAL FUNDS | 228,599 | (302,599) | (74,000) |
13. RELATED PARTY DISCLOSURES
During the year a grant of £30,000 (2022 £30,000) was received from the Veterans' Founda�on. Peter Moun�ord and Simon Banks-Cooper are trustees of the Veterans' Founda�on.
14. ULTIMATE CONTROLLING PARTY
The Company has no ul�mate controlling party.
Page 15
HEROPRENEURS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Dona�ons and legacies | ||
| Dona�ons | 71,895 | 49,478 |
| Investment income | ||
| Deposit account interest | 600 | 9 |
| Charitable ac�vi�es | ||
| Heropreneurs Awards, other events and workshops | 25,820 | 80,797 |
| Total incoming resources | 98,315 | 130,284 |
| EXPENDITURE | ||
| Raising dona�ons and legacies | ||
| Costs of genera�ng dona�ons | 216 | 216 |
| Other trading ac�vi�es | ||
| Computer equipment | - | 394 |
| Charitable ac�vi�es | ||
| Events and publicity | 14,614 | 74,555 |
| Consul�ng | 9,036 | 2,675 |
| Travel costs | 900 | 4,615 |
| 24,550 | 81,845 | |
| Other | ||
| So�ware, IT support and related costs | 7,268 | 7,662 |
| Sundry expenses | 563 | 2,726 |
| Other Legal and professional | 7,404 | 7,009 |
| Independent examina�on fees | 9,500 | 4,000 |
| 24,735 | 21,397 | |
| Support costs | ||
| Management | ||
| Wages | 26,373 | 113,847 |
| Social security | 1,101 | 6,107 |
| Pensions | 468 | 1,320 |
| 27,942 | 121,274 | |
| Finance | ||
| HMRC late payment interest | 30 | - |
| Total resources expended | 77,473 | 225,126 |
| Net income/(expenditure) | 20,842 | (94,842) |
Page 16