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COMPANY REGISTRATION NUMBER: 07425286 CHARITY REGISTRATION NUMBER: 1137133
Caramel Rock Limited
Company Limited by Guarantee
Financial Statements
30 November 2022
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Caramel Rock Limited
Financial Statements
Year ended 30 November 2022
| Page | |
|---|---|
| Details of the Charity, its Trustees, and advisers | 1 |
| Trustees'annualreport | 2-7 |
| Independentexaminer's report tothetrustees | 8 |
| Statementof financial activities | 9 |
| Statementof financial position | 10 |
| Notes to the financial statements | 11-16 |
1
Caramel Rock Limited
Reference and administrative details of the charity, its Trustees and advisers | Year ended 30 November 2022
T rustees Ben Mubiayi, Chair (appointed 1 September 2019) Karen Butler, Trustee (appointed 1 January 2020) Robert Bowles, Trustee (appointed 2 September 2020) Jyothish Nair, Trustee (appointed 16 June 2021) Olga Gimenez-Zapiola, Trustee (appointed 01 July 2021) Justine Wright, Trustee (appointed 17 September 2021)
Charity registration number 1137133 Company registration number 07425286 Principal office 17-18 Lower Dock Walk London E16 2GT Manager Director Faith Johnson
Accountants SAS Consultancy
2
Caramel Rock Limited
Trustees' Annual Report | Year ended 30 November 2022
The Trustees, who are also the directors for the purposes of company law, present their annual report together with the financial statements of the Charity for the year 1 December 2021 to 30 November 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective January 2015).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Trustees oversee the processes of interaction and decision-making among the actors involved in a collective form that leads to the good practice of execution of all the charities activities with the authority to make decisions.
Caramel Rock charity began as part of Ascension Church running workshops in a local cafe, running shows in a local church starting in 2008. From then, the charity established its own status building track record for its first 2 years gaining charity status in 2010 and has grown not only working with churches, community groups, schools, youth centres, universities and businesses.
We have a strong belief in shaping our future leaders and therefore we offer, in every course, a personal development scheme, as well as helping young people, it is also our mission to provide people (children and adults) with the knowledge and expertise of the fashion industry, to help them form a solid foundation for a brighter future.
We are an educational charity that provides courses and training to young people and young adults Caramel Rock is a creative arts charity providing training and opportunities, in Newham for local people.
Additionally, Caramel Rock guides young people to achieve both their short and long-term goals. This is accomplished through improving their skills and giving them work experience within the fashion industry.
Objectives and activities
3
Caramel Rock Limited
Trustees' Annual Report (continued) Year ended 30 November 2022
Objectives and activities (continued)
a. Objectives
Caramel Rock's objectives include supporting young people and their families, providing skills, experience and qualifications, and improving young people's confidence, motivation and ambition in order to help them develop positive opportunities in their lives.
We specifically use fashion as a means to engage with young people because of the interest it holds for so many young people, as well as the fact that it provides significant and relevant opportunities for employment in the London retail sector.
Another key objective for Caramel Rock is changing the relationship that young people have with fashion encouraging awareness and understanding of 'fast fashion' and how fashion can be more sustainable.
We believe that young people hold the key to change, as they are the next generation of consumers, retailers, and business leaders.
Aims:
Run in-house training programmes and outreach workshops as well as tackling the skills gap in the fashion industry.
As an arts training provider we aim to help young people in disadvantaged circumstances that may not have the right support or guidance and help them to connect with industry professionals, gain experience and receive the qualification they need to achieve their future career.
We aim to advance the education for disadvantage young people in the fashion and creative arts sector to a superior level.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives.
Currently Caramel Rock achieves these objectives by providing one on one support with young people and their families, an accredited BTEC vocational diploma level 1 and 2 in fashion and clothing, portfolio and CV development and work experience placements.
We also aim to achieve these objectives through the development of a Caramel Rock Sustainability Project. The project is to support a circular fashion economy.
We use fashion as a creative means to engage with people. We have a strong belief in shaping our future leaders and therefore we offer, in every course, a personal development scheme. As well as helping young people, it is also our mission to provide people (children and adults) with the knowledge and expertise of the fashion industry, to help them form a solid foundation for a brighter future. Additionally, Caramel Rock guides young people to achieve both their short and long-term goals. This is accomplished through improving their skills and giving them work experience within the fashion industry. Our goals are reached through organising and implementing our own Caramel Rock Fashion Show and other events.
4
Caramel Rock Limited
Trustees' Annual Report (continued) Year ended 30 November 2022
Objectives and activities (continued)
c. Activities undertaken to achieve objectives.
Fashion and Creative Arts
As a fashion and arts charity, we use creative arts as a tool to instil confidence and skills to those that are passionate about pursuing a career in this sector or for those that show true potential. Not only is fashion a profitable market but also the creative industry builds life skills by encouraging individuals to think creatively and solve problems efficiently. Our academy promotes creative pathways such as fashion, the arts and dance and these courses help to develop individuals and provide local people opportunities within the sector.
Education
At Caramel Rock we believe that everybody has the right to education. Everybody has the right to be empowered, inspired and given an opportunity to uncover their highest potential in life. For us education is power it’s a tool that can improve and sharpen lives but most importantly we use it to close the skills gap in the Fashion sector. Our passion for both educating people and advancing the local community enables us to enrich the lives of individuals and encourage them to come together with a shared vision and one voice to advance their community.
Job Training
As a fashion and arts academy, a number of our clients are young students who are trying to increase future prospects in the fashion and arts sector. As a result, we are passionate about seeking ways to increase job training for young people. Fashion is considered a leading industry in terms of employing young people from the age of 18-30 which we are proud of and want to do our part by bringing opportunities to people. Many of our young pupils that have worked with us and joined our programmes have successfully completed and have gained further experience and work in the fashion industry. We only aim to further this and provide our services for a wider population of young people without jobs or the right connections to land them into employment within the fashion sector.
Strengthening Communities
We believe that the community is at the very heart of what we do. We encourage local people to work together to not only strengthen the community but increase individual engagement and involvement in the lives of others. Much of our work is geared towards inspiring the community to work together and take an interest in what is going on around them. We help to prompt conversation between the young and the elderly. By instigating dialogue between parents and children, teenagers, and elderly we hope to create a bond between local people in the community and increase richness to the community.
Mentoring and Enrichment
At Caramel Rock we are passionate about seeing this generation work towards their dreams. We are enthusiastic about mentoring and instilling confidence to those that intend to develop their lives, or even start up their own business. We have a keen interest in helping to nurture and prepare individuals into their desired dreams and although we specialise in the creative industries we have mentored people who have gone on to do many other things. Our support is to ensure our beneficiaries gain a better understanding of how they can develop their skills and most importantly how they can contribute to society.
5
Caramel Rock Limited
Trustees' Annual Report (continued) Year ended 30 November 2022
Objectives and activities (continued)
d. Main activities undertaken to further the Charity's purposes for the public benefit.
Caramel Rock works with industry experts in varied fields to progress its work. We are committed to developing the next generation of creative's by giving people the opportunity to access resources, courses, opportunities, and gain working experience in the creative arts.
We work with young people and adults as well as vulnerable people and help them get back into employment or training by equipping them with the skills they need through the creative arts. We use fashion as a creative means to engage with people. Some students may just want to gain some experience or have a platform to showcase their work within the industry; this is something we also provide.
We also work with young people with disabilities and aim to engage them in our activities , so that they can discover their own passion. We believe that every person has a talent and a purpose, and we set out to show a wide range of people their ability and potential to succeed. We are a Christian organisation that stands on Christian values.
Achievements and performance
a. Review of activities
Caramel Rock is a dynamic youth focused charity that uses the engaging mediums of fashion and creative arts to improve education, employment and social inclusion opportunities for disadvantaged young people living within the London Borough of Newham and neighbouring areas such as Tower Hamlets, the City and Docklands. Formed as a Charity (registration number 1137133) our creative projects look to provide pathways back into education, employment, or training for NEET (not in employment, education or training) young people between the ages of 16 and 24 who are disengaged from formal learning environments. We work with over 250 young people each year through a team of 4 staff and 12 volunteers. Our success and retention rates are as follows:
80% achieve full qualification and complete programme engagement. 70% progress into employment or training
6-month post programme we follow up with all participants within the 6 months window to confirm they are still engaged within the workplace or further training post the support Caramel Rock has provided.
Financial review
6
Caramel Rock Limited
Trustees' Annual Report (continued) Year ended 30 November 2022
Financial review (continued)
a. Reserves policy
Caramel Rock is currently dependent on sub-contract from educational institutions such as colleges and schools as well as grants and trust funding (source of income) to sustain its activities, as earned income alone would not allow Caramel Rock to continue operating.
This means that if there were to be a gap in Caramel Rock (source of income) it is likely that Caramel Rock would have to close.
To avoid closure if funding difficulties were to happen the Caramel Rock board has agreed to keep a certain level of financial reserves to ensure that main operations can continue for a period of 3 months.
The main concerns of the board are to ensure:
-
that staff can continue working, primarily to secure new funding.
-
that members/service users are supported to move on to other services.
Currently funding has been secured until the end of each academic year, but if difficulties were to arise then, it has been calculated those reserves of £30,000 must be built to continue running for at least 3 months.
The calculations include staff salaries, pensions, and payments to HMRC, rent, basic office running costs and other expenses as well as an allowance for redundancy payments to eligible staff should the organisation be forced to close.
If service delivery to vulnerable clients is a key factor, reserves may also take into account costs of moving users on to alternative services or a period of wind-down services over 3 months.
The reserves should be built up from the unrestricted (earned) income. The level of reserves should be calculated and monitored every 3 months by Caramel Rock (staff or board member) This policy should be reviewed yearly and whenever there are significant changes in staff hours or numbers.
b. Deficit
The cumulative deficit in the Charity's unrestricted fund balance is largely attributable to the capacity building activities it has been carrying out since moving to its new premises in 2018. Related expenditures have been mainly financed by a social investment fund loan awarded to the Charity. The Trustees are committed to ensuring the future financial stability of the Charity and plan to leverage the improved capacity to eliminate this deficit by 2022/23 financial year through sustained fundraising activities and attracting additional contract income.
c. Financial results
The net profit for the year amounted to £7,561 (2021: £13,671 net loss). No corporation tax is expected to arise on the results for the period.
Structure, governance, and management
7
Caramel Rock Limited
Trustees' Annual Report (continued) Year ended 30 November 2022
Structure, governance and management (continued)
a. Constitution.
Caramel Rock is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102) make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on --------- and signed on their behalf by:
Ben Mubiayi Chair
8
Caramel Rock Limited
Independent Examiner’s Report to the Trustees of Caramel Rock Limited
Year ended 30 November 2022
Independent examiner's report to the Trustees of Caramel Rock ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 November 2022.
Responsibilities and basis of report
As the Trustees of the Charity (and 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 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 accounts 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 Charity 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Date:
SAS Consultancy
Chartered Certified Accountants 220 Wards Roads Ilford Essex IG2 7DY
9
Caramel Rock Limited
Statement of Financial Activities
Year ended 30 November 2022
| Note Income and endowments Donations and legacies 5 Total income Expenditure Expenditure on charitableactivities 6 Other charges Total expenditure Net expenditure and net movement in fund Reconciliationof funds Total funds brought forward Total funds carried forward |
2022 Unrestricted Restricted Funds Funds 17,793 187,778 |
2021 Total Total Funds Funds 205,571 192,205 |
|---|---|---|
| 17,793 187,778 |
205,571 192,205 |
|
| 198,010 - - - |
198,010 205,876 - - |
|
| 198,010 - |
198,010 205,876 |
|
| (180,217) 187,778 |
7,561 (13,671) | |
| (124,133) (110,462) |
||
| (116,572) (124,133) |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
10
Caramel Rock Limited
Statement of Financial Position
Year ended 30 November 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ £ |
|
| Fixedassets | |||
| Tangible assets | 11 | 4,467 1,185 | |
| Current assets | |||
| Other debtors | 12 | 19,100 | |
| Cashat bank and in hand | 13 | 640 | 19,740 41,914 |
| ------------------------- | |||
| Creditors: amounts falling due within one year14 |
(51,512) (55,397) | ||
| Net currentassets | (39,177)(13,483) | ||
| ------------------------- -------------------- | |||
| Total assets less currentliabilities | (27,305) (12,298) | ||
| Accruals and deferred income | - - | ||
| Creditors: amounts falling due after more than one year15 | (89,267) (111,835) | ||
| ------------------------- ------------------ | |||
| (116,572) (124,133) | |||
| Net assets | ============ ========== | ||
| (116,572) (124,133) | |||
| Funds of the charity | --------------------- -------------------- | ||
| Unrestrictedfunds | |||
| Total charity funds | 16 | (116,572) (124,133) |
=========== ==========
For the year ending 30 November 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on the ____ and are signed on behalf of the board by:
Ben Mubiayi Trustee
11
Caramel Rock Limited
Notes to the Financial Statements | Year ended 30 November 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 17-18 Lower Dock Walk, London, E16 2GT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's financial statements are prepared on a going concern basis as the directors have secured additional funding to finance the company’s activities in the next 12 months and continue extensive fundraising activities.
The reserve has not been met however the company expects to have sufficient funds in the reserve again by November 2023.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds held by the charity are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
12
Caramel Rock Limited Notes to the Financial Statements
continued) | Year ended 30 November 2022
3. Accounting policies
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is provided on the following basis:
Furniture and equipment Straight Line Method
13
Caramel Rock Limited Notes to the Financial
Statements (continued) Year ended 30 November 2022
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Financial instruments, if any, are initially recognised at the amount receivable or payable.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee. The company is limited by guarantee and does not contain any share capital.
5. Donations and legacies
| Unrestricted | Restricted | Total | Funds Total Funds |
Funds Total Funds |
|
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 1,144 | - |
1,144 | 5,000 | |
| Grants | - | 187,778 |
187,778 | 167,514 | |
| Discounts/Refunds Given | - | - |
- | - | |
| Other Income | 16,649 | - |
16,649 | 19,691 | |
| ============= | ============= |
================= | ================ | ||
| 17,793 | 187,778 |
205,571 | 192,205 | ||
| ============= | ============ | ================ | =============== |
14
Caramel Rock Limited
Notes to the Financial Statements (continued), Year ended 30 November 2022
6. Expenditure on charitable activities by fund type
| Unrestricted | Unrestricted | Restricted **Total ** | Restricted **Total ** | Funds | Funds | Total | Total | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2022 | Funds | 2021 | ||||||
| £ | £ | £ | £ | |||||||
| Charitable grants. | - | - | - | - | ||||||
| Supportcosts. | 198,010 | - | 198,010 | 205,876 | ||||||
| Gain / loss on disp of invest property | - |
- | - | - | ||||||
| ---------------------------- | ---------------------------- | ------------------------------ | - ----------------------------- | |||||||
| 198,010 | - | 198,010 | 205,876 | |||||||
| ================ | =============== | ================ | =============== | |||||||
| 7. | Expenditure on charitable activities by activity type | |||||||||
| Grant funding | Support | **Total ** | funds | Total fund | ||||||
| ofactivities | costs | 2022 | 2021 | |||||||
| £ | £ | £ | £ | |||||||
| Support Cost | - | 198,010 | 198,010 | 205,876 | ||||||
| Charitable grants | - | - | - | - | ||||||
| ----------------------- | ----------------------- | ----------------------------- | -------------------------------- | |||||||
| - | 198,010 | 198,010 | 205,876 | |||||||
| ========== | =========== | ============ | ================ | |||||||
| 8. | Analysis ofsupport costs | |||||||||
| Analysis of | ||||||||||
| support | costs | Total 2022 |
Total 2021 | |||||||
| £ | £ | £ | ||||||||
| Staff Cost | 50,254 | 50,254 | 62,754 | |||||||
| Publications |
3,293 | 3,293 | 7,078 | |||||||
| Legal fees and consulting cost | 40 | 40 | 274 | |||||||
| Events and Activities | 4,461 | 4,461 | 4,000 | |||||||
| Volunteers’ Cost | 2,216 | 2,216 | 2,487 | |||||||
| Rent and Service Charges | 22,179 | 22,179 | 16,675 | |||||||
| Other Expenses | 109,915 | 109,915 | 109,453 | |||||||
| Depreciation charges | 5,652 | 5,652 | 3,155 | |||||||
| ------------------- | -------------------- | -------------------- | ||||||||
| 198,010 | 198,010 | 205,876 | ||||||||
| ============ | ============ | =========== | ||||||||
| Annexure - Other Expenses: | ||||||||||
| £ | ||||||||||
| Equipment | 410 | |||||||||
| Accountancy fees | 890 | |||||||||
| Spark Lab Project | 1,400 | |||||||||
| Bank charges | 1,862 | |||||||||
| Bookkeeping software | 144 | |||||||||
| Business rates | 3,848 | |||||||||
| Cleaning | 1,266 | |||||||||
| Computer and Internet Expenses | 2,388 | |||||||||
| Continuing Education | 1,594 | |||||||||
| Equipment maintenance | 228 |
15
Caramel Rock Limited
Notes to the Financial Statements (continued), Year ended 30 November 2022
| Dues and Subscriptions Educational Materials Websites Insurance Expense Interest expense Meals and entertainment Office Supplies Postage and Delivery Printing and Reproduction Professional Fees Purchases Recruitment Repair and maintenance Software expense Membership dues Welfare Subcontractor Subistance & food Sundry Expenses Telephone Expense Training Travel Expense Student travel & other expense Total Other Expenses |
3,077 16,914 1,057 1,478 402 3,266 5,617 55 4,571 2,352 1,901 829 2,274 2,391 78 482 42,128 313 2,459 900 72 2,715 555 |
|---|---|
| 109,915 |
9. Staff costs
The average head count of employees during the year was 2 (2021: 2)
10. Trustee remuneration and expenses
Trustees remuneration are Nil (2021: Nil) during the year.
16
Caramel Rock Limited
Notes to the Financial Statements (continued), Year ended 30 November 2022
11. Tangible fixed assets
| Furniture and | Total | ||
|---|---|---|---|
| Equipment | |||
| £ |
£ | ||
| Cost | |||
| At 1 December 2021 | 26,342 |
26,342 | |
| Additions | 8,934 |
8,934 | |
| ------------------- | ------------------- | ||
| At 30 November 2022 | 35,276 |
35,276 | |
| ------------------- | ------------------- | ||
| Depreciation | |||
| At 1 December 2021 | 25,157 | 25,157 | |
| Charge for the year | 5,652 | 5,652 | |
| - |
------------------- | ------------------- | |
| At 30 November 2022 | 30,809 | 30,809 | |
| - |
------------------- | ------------------- | |
| Net book value | |||
| At 30 November 2022 | 4,467 | 4,467 | |
| ============ | ============ | ||
| At 1 December 2021 | 1,185 | 1,185 | |
| ============ | ============ |
17
Notes to the Financial Statements (continued), Year ended 30 November 2022
Caramel Rock Limited
12. Debtors
£19,100 represents income accrued for 2022 but due after year end.
13. Cash at bank and in hand
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Current Account | - | - |
| Savings Account | - | 1064 |
| Other Account | 250 | 250 |
| Petty Cash | 390 | - |
| ------------------ | ---------------------- | |
| 640 | 1,314 |
=========== ============
14. Creditors: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Creditors | 12,335 | 3,393 |
| Bank Overdraft | 9,987 | 15,409 |
| Director’s Current Account | 23,006 | 26,073 |
| Other Taxation and Social Security | 1,636 | 5,699 |
| Other Creditor |
1,272 | 1,319 |
| Pension Fund Contributions pa | 1,520 | 2,549 |
| Accruals | 1,755 | 955 |
| ------------------ | ---------------------- | |
| 51,511 | 55,397 |
=========== ============
15. Creditors: amounts falling more than one year
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bounce Back Loan | 50,000 | 50,000 | ||
| Other Loan | 39,267 | 61,835 | ||
| ------------------------ | ---------------- | |||
| 89,267 | 111,835 | |||
| ============= | ========= | |||
| 16. Analysisof charitable funds | ||||
| Statement of funds | ||||
| At01 | At 30 | |||
| Dec2021 | Income | Expenditure | Nov 2022 | |
| £ | £ | £ | £ | |
| Generalfunds | (124,133) | 205,571 |
(198,010) | (116,572) |
| =========== | ============= | ============== | ============ |