## |||Page|| |---|---|---|---| |Reference and Administrative
Details|||| |Report ofthe Trustees|2|to|8| |Report ofthe Independent
Auditors|9|to|10| |Statement ofFinancial Activities|||| |Balance Sheet|12|to|13| |Cash Flow Statement||14|| |Notes to the Cash Flow Statement|||| |Notes to the Financial Statements|16|to|27| ## ## |||||| |---|---|---|---|---| |TRUSTEES||Mr DECreen||| |||Mr RJDavis (resigned 19.12.22)||| |||Mr BPatel||| |||Ms A M White||| |||Ms ST LPower||| |||Ms A Donelon|(resigned 6.3.23)|| |||Mr RJ Goodwin||| |||Miss YWaheed|(resigned 4.5.23)|| |||Ms ANicholls|(appointed 31.7.23)|| |||Mr RJRoche (appointed 31.7.23)||| |REGISTERED|OFFICE|Futures House||| |||The Moakes||| |||Luton||| |||Bedfordshire||| |||LU3 3QB||| |REGISTERED|COMPANY|06853242 (England||and Wales)| |NUMBER||||| |REGISTERED|CHARITY|1138854||| |NUMBER||||| |AUDITORS||FKCA Limited||| |||260 - 270 Butterfield||| |||Great Marlings||| |||Luton||| |||Bedfordshire||| |||LU28DL||| |SOLICITORS||Taylor Walton||| |||28-44 Alma Street||| |||Luton||| |||LUI 2PL||| |||Russell-Cooke||| |||2 Putney
Hill||| |||Putney, London||| |||SW15 6AB||| |BANKERS||NatWest||| |||Market Hill Branch||| |||31 George Street||| |||Luton||| |||Bedfordshire||| |||LUI 2YN||| |||Santander||| |||54-56 George Street||| |||Luton||| |||Bedfordshire||| |||LU1 2AB||| |||Page I||| ## ## ## ## ## ## ## ## ## ## ## |ACHIEVEMENT
AND PERFORMANCE
Charitable
activities
Key Outputs||| |---|---|---| |The measures
it uses to assess success in the reporting|period is through|key output delivery:| |Output|Total|| |Jobs Created (f/t)|7|| |Jobs Created
(p/t)|3|| |Jobs safeguarded|4|| |People trained obtaining
qualifications|10|| |Residents accessing employment|0|| |Training weeks|0|| |Young people benefiting|1250|| |New business
start ups|0|| |Businesses
advised|0|| |Benefiting
from safety initiatives|0|| |50+benefiting
from safety initiatives|0|| |Women benefiting
from safety|0|| |Community
safety initiatives|0|| |Youth crime prevention
initiatives|0|| |Attending
youth crime initiatives|0|| |Locals access new health facilities|343|| |New health facilities|2|| |New sports facilities|0|| |Community
cultural
facilities improved|0|| |Voluntary
organisations
supported|3|| |Community
Groups supported|15|| |Attending
community
capacity building|114|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||2023|2022| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Total|Total| |||||funds|funds|funds|funds| ||||Notes||f||| |INCOME|AND ENDOWMENTS FROM||||||| |Donations|and legacies||2|3,007|5,588|8,595|3,004,042| |Charitable|activities||3|624,474||624,474|427,464| |Investment|income||4|3,354||3,354|98| |Other income|||5||||202,324| |Total||||630,835|5,588|636,423|3,633,928| |EXPENDITURE ON|||||||| |Charitable|activities||||||| |Charitable|trading costs|||819,324|5,588|824,912|631,592| |Project expenses||||47,666||47,666|| |Total||||866,990|5,588|872,578|631,592| |NET INCOME/(EXPENDITURE)||||(236,155)||(236,155)|3,002,336| |RECONCILIATION||OF FUNDS|||||| |Total funds|brought
forward|||5,046,529|3,584|5,050,113|2,047,777| |TOTAL FUNDS CARRIED FORWARD||||4,810,374|3,584|4,813,958|5,050,113| ## ## |||||2023|2022| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| ||Notes|||f|| |FIXEDASSETS|||||| |Tangible assets|12|3,088,263||3,088,263|3,097,473| |CURRENT ASSETS|||||| |Debtors|13|165,524||165,524|177,594| |Cash at bank and in hand||1,986,586|3,584|1,990,170|2,004,565| |||2,152,110|3,584|2,155,694|2,182,159| |CREDITORS|||||| |Amounts
falling due within one year|14|(429,999)||(429,999)|(229,519)| |NET CURRENT ASSETS||1,722,111|3,584|1,725,695|1,952,640| |TOTAL ASSETSLESSCURRENT|||||| |LIABILITIES||4,810,374|3,584|4,813,958|5,050,113| |NET ASSETS||4,810,374|3,584|4,813,958|5,050,113| |FUNDS|15||||| |Unrestricted
funds||||4,810,374|5,046,529| |Restricted funds||||3,584|3,584| |TOTAL FUNDS||||4,813,958|5,050,113| ## ## ## ||||fo|r the Year Ended|31MARCH 2023|| |---|---|---|---|---|---|---| ||||||2023|2022| |||||Notes|f|f| |Cash flows from operating||activities||||| |Cash generated
from operations|||||(13,554)|(30,781)| |Net cash used in operating||activities|||(13,554)|(30,781)| |Cash Ilows from investing||activities||||| |Purchase oftangible
fixed|assets||||(4,195)|(89,404)| |Interest received|||||3,354|98| |Net cash used in investing|activities||||(841)|(89,306)| |Change in cash and cash|equivalents||in|||| |the reporting
period|||||(14,395)|(120,087)| |Cash and cash equivalents||at the||||| |beginning
ofthe reporting||period|||2,004,565|2,124,652| |Cash and cash equivalents||at the end|of|||| |the reporting
period|||||1,990,170|2,004,565| ## ## ## ## |||||||2023|2022| |---|---|---|---|---|---|---|---| |||||||8|| |Net (expenditure)/income|||for the reporting|period (as per the|||| |Statement ofFinancial|||Activities)|||(236,155)|3,002,336| |Adjustments|for:||||||| |Depreciation|charges|||||13,407|7,193| |Loss on disposal of||fixed|assets||||4,000| |Interest received||||||(3,354)|(98)| |Donation of|property||||||(3,000,000)| |Decrease in|debtors|||||12,070|1,138| |Increase/(decrease)||in creditors||||200,478|(45,350)| |Net cash used in operations||||||(i3,554)|(30,781)| |ANALYSIS|OF CHANGES IN NET FUNDS||||||| ||||||At 1.4.22|Cash flow
f|At 31.3.23
f| |Net cash|||||||| |Cash at bank|and in|hand|||2,004,565|(14,395)|1,990,170| ||||||2,004,565|(14,395)|1,990,170| |Total|||||2,004,565|(14,395)|1,990,170| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |3.|CHARITABLE A|CTIVITIES|||||| |---|---|---|---|---|---|---|---| |||||||2023|2022| ||Letting ofproperty|for charitable|purposes|||451,975|426,802| ||Futures Fun Factory|||||116,731|662| ||Cafe Income|||||55,768|| |||||||624,474|427,464| |4.|INVESTMENT INCOME||||||| |||||||2023f|2022
f.| ||Deposit account interest|||||3,354|98| |5.|OTHER INCOME||||||| |||||||2023f|2022
f| ||Insurance
claims||||||121,504| ||Dilapidation||||||$0,820| ||||||||202,324| |6.|CHARITABLE ACTIVITIES||COSTS||||| |||||||Support|| ||||||Direct|costs (see|| ||||||Costs|note 7)
f|Totals| ||Charitable
trading costs||||412,601|412,311|824,912| ||Project expenses||||47,666||47,666| ||||||460,267|412,311|$72,578| |7.|SUPPORT COSTS||||||| ||||||Financial,||| ||||||legal and||| ||||Premises|Administrative|professional|Governance|| ||||expenses|overheads|costs|costs|Totals| ||||||||f.| ||Charitable
trading costs||368,897|16,973|12,431|14,010|412,311| ## ## ## |||||||2023|2022| |---|---|---|---|---|---|---|---| |||||||Charitable|| |||||||trading|Total| |||||||costs|activities| |Wages||||||60,560|74,307| |Social security||||||4,546|6,869| |Pensions||||||1,218|],680| |Rates and|water|||||3,020|1,937| |Insurance||||||10,872|10,025| |Light and|heat|||||123,785|92,498| |Cleaning|and|waste management||||32,817|22,645| |Building maintenance||||||82,6]2|69,095| |Security||||||17,562|17,694| |Accountancy|||||||251| |Advertising||||||4,653|2,111| |Premises|repairs,||renewals|||24,008|| |Landscaping||costs||||1,013|130| |Lifts|||||||676| |Depreciation||oftangible||fixed assets||2,231|7,192| |||||||368,897|307,110| |Administrative|||overheads||||| |||||||2023|2022| |||||||Charitable|| |||||||trading|Total| |||||||costs|activities| |||||||f,|| |Insurance||||||3,677|2,552| |Telephone||||||2,047|4,050| |Postage and||stationery||||2,552|1,094| |Sundries||||||640|127| |Software|licences and expenses|||||8,057|4,137| |||||||16,973|11,960| |Financial,|legal||and professional||costs||| |||||||2023|2022| |||||||Charitable|| |||||||trading|Total| |||||||costs|activities| |||||||f|6| |Legal and|professional|||||5,594|21,508| |Meeting expenses||||||855|1,245| |Accountancy||||||5,061|4,774| |Bank charges||||||921|1,070| |||||||12,431|28,597| ## ## ## |Governan|ce
costs||||| |---|---|---|---|---|---| |||||2023|2022| |||||Charitable|| |||||trading|Total| |||||costs|activities| ||||||f| |Auditors'|remuneration|||7,500|7,400| |Auditors'|remuneration|for|non audit work|6,510|3,850| |||||14,010|11,250| |NET INCOME/(KXPENIHTURE)|||||| |Net income/(expenditure)|||is stated atter charging/(crediting);||| |||||2023|2022| ||||||f| |Auditors'|remuneration|||7,500|7,400| |Auditors'|remuneration|for|non audit work|2,500|3,850| |Audit rem|- under accrual||in previous years|4,010|| |Depreciation
- owned assets||||13,405|7,193| |Deficit on|disposal offixed assets||||4,000| ## ## ## ## |STAFF CO|STS|||||||| |---|---|---|---|---|---|---|---|---| ||||||||2023|2022| |||||||||f.| |Wages and|salaries||||||340,675|258,427| |Social security costs|||||||28,985|37,987| |Other pension costs|||||||6,085|7,373| ||||||||375,745|303,787| |The average|monthly|number ofemployees||during the year was|as follows:|||| ||||||||2023|2022| |Staff|||||||13|5| |The number|ofemployees||whose employee|benefits (excluding|employer|pension|costs) exceeded|660,000was:| ||||||||2023|2022| |6100,001 -|8110,000||||||I|| |8150,001 -|8160,000|||||||| ## ## |||||for the Year E|for the Year E|nded 31MARCH|2023||| |---|---|---|---|---|---|---|---|---|---| |11.|COMPARATIVES|FOR THE||STATEMENT||OF FINANCIAL|ACTIVITIES||| ||||||||Unrestricted|Restricted|Total| ||||||||funds|funds|funds| ||||||||f,||| ||INCOME AND ENDOWMENTS||||FROM||||| ||Donations
and legacies||||||3,002,202|1,840|3,004,042| ||Charitable
activities||||||427,464||427,464| ||Investment
income||||||98||98| ||Other income||||||202,324||202,324| ||Total||||||3,632,088|1,840|3,633,928| ||EXPENDITURE ON||||||||| ||Charitable
activities||||||||| ||Charitable
trading costs||||||608,586|23,006|631,592| ||Project expenses||||||(1,840)|1,840|| ||Total||||||606,746|24,846|631,592| ||NET INCOME/(EXPENDITURE)||||||3,025,342|(23,006)|3,002,336| ||RECONCILIATION||OF FUNDS||||||| ||Total funds brought|forward|||||2,021,187|26,590|2,047,777| ||TOTAL FUNDS CARRIED FORWARD||||||5,046,529|3,584|5,050,113| |12.|TANGIBLE FIXEDASSETS||||||||| |||||||||Fixtures|| ||||||Freehold|Leasehold|Plant and|and|| ||||||property|improvements|machinery|fittings|Totals| ||||||||f|6|| ||COST||||||||| ||At I April 2022|||3,000,000||7,394|50,806|89,404|3,147,604| ||Additions||||||4,195||4,195| ||At 31 March 2023|||3,000,000||7,394|55,001|89,404|3,151,799| ||DEPRECIATION||||||||| ||At 1 April 2022||||||50,131||50,131| ||Charge for year||||||2,230|11,175|13,405| ||At 31 March 2023||||||52,361|11,175|63,536| ||NET BOOK VALUE||||||||| ||At 31 March 2023|||3,000,000||7,394|2,640|78,229|3,088,263| ||At 31 March 2022|||3,000,000||7,394|675|89,404|3,097,473| ## ## ## |DEBTORS:A|MOUNTS FALLING DUE WITHIN ONE YEAR||| |---|---|---|---| |||2023
f|2022| |Trade debtors||149,819|37,609| |VAT|||8,258| |Prepayments
and accrued income||15,705|131,727| |||165,524|177,594| |CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR||| |||2023f|2022| |Trade creditors||151,132|27,091| |Social security|and other taxes|10,053|7,245| |VAT||14,689|| |Other creditors||75,187|80,041| |Deferred
income||151,405|47,060| |Accrued expenses||27,533|68,082| |||429,999|229,519| ## |||||Rental Income|Grant Income| |---|---|---|---|---|---| |Deferred|Income|brought
forward|at I April 2022|2,469|44,590| |Incoming|resources deferred
in the current year|||112,401|| |Amounts|released|from previous|years|(2,469)|(5,587 )| |Deferred|Income|carried forward|at 31 March 2023|112,401|39,003| ## ## |MOVEM|EN|T IN|F|UNDS||||| |---|---|---|---|---|---|---|---|---| ||||||||Net|| ||||||||movement|At| |||||||At 1.4.22|in funds|31.3.23| |Unrestricted||funds||||||| |General fund||||||727,476|(236,155)|491,321| |Designated|-|Capital||Investment||||| |Programme||||||77,000||77,000| |Designated|-|Sinking||Fund||450,000||450,000| |Designated|-|Business Continuity||||100,000||100,000| |Designated|-|Project||Investment||50,000||50,000| |Designated|-|Large|Scale Capital||Project|642,053||642,053| |Designated|-|Futures||House||3,000,000||3,000,000| |||||||5,046,529|(236,155)|4,810,374| |Restricted|funds|||||||| |Better Futures||Programme||||3,584||3,584| |TOTAL FUNDS||||||5,050,113|(236,155)|4,813,958| |Net movement||in funds, included|||in the above are as follows:|||| |||||||Incoming|Resources|Movement| |||||||resources|expended|in funds| |Unrestricted||funds||||||| |General
fund||||||630,835|(866,990)|(236,155)| |Restricted|funds|||||||| |SEMLEP|climbing||wall grant|||5,588|(5,588)|| |TOTAL FUNDS||||||636,423|(872,578)|(236,155)| ## ## ## ||||||Net|| |---|---|---|---|---|---|---| ||||||movement|At| |||||At 1.4.21|in funds|31.3.22| |||||f|f|| |Unrestricted|funds|||||| |General fund||||702,134|25,342|727,476| |Designated -|Capital Investment|||||| |Programme||||77,000||77,000| |Designated -|Sinking Fund|||450,000||450,000| |Designated -|Business Continuity|||100,000||100,000| |Designated -|Project Investment|||50,000||50,000| |Designated -|Large|Scale Capital Project||642,053||642,053| |Designated -|Futures House||||3,000,000|3,000,000| |||||2,021,187|3,025,342|5,046,529| |Restricted funds||||||| |Better Futures Programme||||26,590|(23,006)|3,584| |TOTALFUNDS||||2,047,777|3,002,336|5,050,113| |Comparative|net movement||in funds, included|in the above are as follows:||| |||||Incoming|Resources|Movement| |||||resources|expended
f|in funds| |Unrestricted|funds|||||| |General fund||||632,088|(606,746)|25,342| |Designated - Futures House||||3,000,000||3,000,000| |||||3,632,088|(606,746)|3,025,342| |Restricted funds||||||| |Better Futures|Programme||||(23,006)|(23,006)| |SEMLEP climbing||wall grant||1,840|(1,840)|| |||||1,840|(24,846)|(23,006)| |TOTAL FUNDS||||3,633,928|(631,592)|3,002,336| ## |||||Net|| |---|---|---|---|---|---| |||||movement|At| ||||At 1.4.21|in funds|31.3.23| |||||f|| |Unrestricted||funds|||| |General
fund|||702,134|(210,813)|491,321| |Designated|-|Capital Investment|||| |Programme|||77,000||77,000| |Designated|-|Sinking Fund|450,000||450,000| |Designated|-|Business Continuity|100,000||100,000| |Designated|-|Project Investment|50,000||50,000| |Designated|-|Large Scale Capital Project|642,053||642,053| |Designated|-|Futures House||3,000,000|3,000,000| ||||2,021,187|2,789,187|4,810,374| |Restricted|funds||||| |Better Futures||Programme|26,590|(23,006)|3,584| |TOTAL FUNDS|||2,047,777|2,766,181|4,813,958| |||||Incoming|Resources|Movement| |---|---|---|---|---|---|---| |||||resources|expended|in funds| |Unrestricted||funds||||| |General fund||||1,262,923|(1,473,736)|(210,813)| |Designated|-|Futures House||3,000,000||3,000,000| |||||4,262,923|(1,473,736)|2,789,187| |Restricted|funds|||||| |Better Futures||Programme|||(23,006)|(23,006)| |SEMLEP|climbing||wall grant|7,428|(7,428)|| |||||7,428|(30,434)|(23,006)| |TOTAL FUNDS||||4,270,351|(1,504,170)|2,766,181| ## ## ## |||2023|2022| |---|---|---|---| |||8|| |Net obligations|receivable:||| |Within one year||342,806|294,715| |Between one and|five years|771,602|851,825| |More than five years|||99,477| |||1,114,408|1,246,016|