## **SOUTHAMPTON 2025 TRUST** 

## **FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2021** 

**Company Registration Number 07344461 Charity Number 1139269** 



## **SOUTHAMPTON 2025 TRUST** 

## **FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

|**CONTENTS**|**PAGES**|
|---|---|
|Legal and Administrative Information|1|
|Trustees Annual Report|2 to 4|
|Independent Examiner's Report to the Members|5|
|Statement of Financial Activities|6|
|Income and Expenditure Account|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 14|





**SOUTHAMPTON 2025 TRUST** 

**LEGAL AND ADMINISTRATIVE INFORMATION** 

**Registered charity name** Southampton 2025 Trust **Charity number** 1139269 **Company registration number** 07344461 **Registered office** Civic Centre Southampton SO14 7LY **Trustees** S Kaur T Keeping J Hall A O’Neill S Hollick M Charlton S Hopkins S Permallo (appointed 24 November 2021) **Independent Examiners** D R Brookes FCA HWB Chartered Accountants Highland House Mayflower Close Chandlers Ford Eastleigh SO53 4AR 

- 1 - 



**SOUTHAMPTON 2025 TRUST** 

## **TRUSTEES ANNUAL REPORT** 

## **YEAR ENDED 31 MARCH 2021** 

The Trustees, who are also directors for the purposes of company law, present their report and the unaudited financial statements of the company for the year ended 31 March 2021, which are also prepared to meet the requirements for a director’s report and accounts for Companies Act Purposes. 

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102). 

## **Reference and administrative details** 

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements. 

## **THE TRUSTEES** 

The Trustees who served the company during the period were as follows: 

S Kaur (Chairperson) L Mitchell (Resigned 16 October 2020) J Hall T Keeping A O’Neill S Hollick (Appointed 5 October 2020) M Charlton (Appointed 1 February 2021) D Fitzhenery (Appointed 17 May 2021 and resigned 8 November 2021) S Hopkins (Appointed 10 March 2021) 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

Southampton 2025 Trust is an incorporated charity under the terms of the Company's Articles of Association and the Charity Memorandum issued on 24 May 2010 and revised 6 November 2020. 

Southampton 2025 Trust has appointed a board of Trustees to run the charity and they appoint a chairman who oversees the board of Trustees. 

The Trustees have examined the major strategic and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks. 

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives it has set. 

## **OBJECTIVES AND ACTIVITIES** 

The Trust continued to pursue its objective of broadening opportunities for public engagement in culture through advocacy and fundraising on behalf of cultural projects in Southampton. In the period covered by the report, under the appointment of the Director the aims of the organisation are being delivered. 

- 2 - 



**SOUTHAMPTON 2025 TRUST** 

## **TRUSTEES ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 MARCH 2021** 

## **ACHIEVEMENTS AND PERFORMANCE** 

During this period, (financial year 2020-2021), the Southampton 2025 Trust continued its mission to improve the wellbeing and life opportunities of the city’s residents through public engagement in arts, culture and heritage. A key objective during the year was for the Trust to focus its efforts on bidding for UK City of Culture status for Southampton in 2025, an initiative which has cross party support. Via a diverse mix of advocacy, fundraising, workshops, consultation and engagement, events, partnerships, training, and more, the Trust, under the guidance of the Board of Trustees, successfully worked towards delivering on this mission. 

As part of its journey to be UK City of Culture 2025, the Trust has undertaken an extensive community and business consultation to identify and address the needs of the city and shape the direction and objectives of the bid. In addition to this the Trust has secured a number of cross-sector partnerships which support the development of the bid both strategically and financially. 

We were delighted to receive a huge range of support from Southampton’s stakeholders such as, Southampton City Council (SCC), Southampton and Solent Universities, GO! Southampton, the city’s Business Improvement District, local businesses including Premier partners, toob and seasonal partner, Westquay, all who have come together to support our bid to be UK City of Culture in 2025. We were also very proud to have secured our first four bid ambassadors in Craig David, Lawrie McMenemy MBE, Shelina Permalloo, and Edward Lord Vaizey, who are playing an active role in our bid. 

With the development of our City of Culture programme, extensive city-wide consultation took place including, establishing stakeholder groups for sectors in the city, such as the health and programming; visual arts; education; business; hospitality and food; heritage and more. During this process the Trust, with the help and support of the SO25 Bid Team, successfully delivered consultation with over 500 people and working groups with further sessions scheduled in 2021-22.  This includes ‘Going Deeper’ consultation sessions with seldom heard communities, under-represented groups, those for whom English is a second language, and youth forums. We have also received over 3,053 survey responses on questions related to our bid, showing that 82% of respondents support our bid to become UK City of Culture. 

A key area of success for the Trust has been the delivery of a series of inclusion workshops (in partnership with John Hansard Gallery). These workshops were developed to work across sectors, ensuring that our Southampton organisations reflect the communities that they serve. Future work will see the submission of our UK City of Culture Expression of Interest (EOI) in July 2021. 

The Trust, Chaired by Councillor Satvir Kaur, continued to grow and expand throughout the year where Trustees were joined by respected, invaluable international figures with strong local connections - Susan, Lady Hollick (formerly of Channel 4 and Arts Council London) and Michael Charlton (Managing Director and CIO at the Department for International Trade, as an independent member). 

The work conducted thus far, paves the way for Southampton to become a global cultural and economic city, improving the wellbeing and life opportunities of its residents, along with being a global hub known for its arts, culture and heritage. 

- 3 - 



**SOUTHAMPTON 2025 TRUST** 

**TRUSTEES ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 MARCH 2021** 

## **APPOINTMENT AND ELECTION OF TRUSTEES** 

The Trustees are appointed because of their local connections and their interests in the cultural and artistic life of the City of Southampton. The Trustees, under the Company's Articles of Association, can appoint a new director or directors, who meet these criteria, at any time. One-third of the directors must retire at each AGM but are able to offer themselves for re-election. The Chairman is appointed by the Trustees who are able to revoke such appointment at any time by a majority vote. 

New Trustees are informed of the Charity's activities over a period of 3 months to enable them to understand the Trusts objectives and procedures. 

## **RESERVES POLICY** 

The Trust has no significant overheads; therefore the trust has a requirement for a minimal amount of working capital to cover its day to day operating costs. Financial forecasts are updated on a regular basis to ensure operating costs incurred will be duly covered. The present level of reserves available to the charity are £381,769. 

## **INDEPENDENT EXAMINER** 

D R Brookes FCA has been appointed as independent examiner. 

## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS** 

The Trustees 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 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 these financial statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in Charities SORP (FRS102); 

- Make judgements and estimates that are reasonable and prudent; 

- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and 

- 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 that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Signed on behalf of the Trustees 

S Kaur Chairperson 

20 December 2021 

- 4 - 



**INDEPENDENT EXAMINER'S REPORT ON THE UNAUDITED FINANCIAL STATEMENTS TO THE MEMBERS OF SOUTHAMPTON 2025 TRUST ON THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

I report to the trustees on my examination of the accounts of the Southampton Cultural Development Trust (“the Trust”) for the year ended 31 March 2021, which are set out on pages 6 to 14. 

## **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** 

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants (ICAEW), which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: 

- the accounting records were not kept in accordance with section 386 of the Companies Act 2006; or 

- the accounts do not accord with such records; or 

- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 

- 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. 

D R Brookes FCA Independent examiner Hopper Williams & Bell Limited Chartered Accountants Highland House Mayflower Close Chandlers Ford Eastleigh Hampshire SO53 4AR Date: ……........................ 

- 5 - 



## **SOUTHAMPTON 2025 TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **YEAR ENDED 31 MARCH 2021** 

|||**Unrestricted**|**Restricted**|**Total funds**|_Total funds_|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2021**|_2020_|
||**Note**|**£**|**£**|**£**|_£_|
|**Income**||||||
|Donations and legacies|2|-|246,440|246,440|_95,834_|
|Charitable activities|3|-|200,000|200,000|_-_|
|||--------------------------------------|--------------------------------------|--------------------------------------|--------------------------------------|
|**Total income**||-|446,440|446,440|_95,834_|
|||--------------------------------------|--------------------------------------|--------------------------------------|--------------------------------------|
|**Expenditure**||||||
|Charitable activities|4|-|(81,091)|(81,091)|_(116,619)_|
|Governance costs|5|(2,310)|-|(2,310)|(6,053)|
|||--------------------------------------|--------------------------------------|--------------------------------------|--------------------------------------|
|**Total expenditure**||(2,310)|(81,091)|(83,401)|_(122,672)_|
|||--------------------------------------|--------------------------------------|--------------------------------------|--------------------------------------|
|**Net income/(expenditure)**||(2,310)|365,349|363,039|_(26,838)_|
|**Net movement in funds**||||||
|Balances at 1 April 2020||18,730|-|18,730|_45,568_|
|||--------------------------------------|--------------------------------------|--------------------------------------|-----------------------------------|
|**Balances at 31 March 2021**||16,420|365,349|381,769|_18,730_|
|||====================================|===================================|==================================|=================================|



The Statement of Financial Activities includes all gains and losses in the year and therefore a Statement of Total Recognised Gains and Losses has not been prepared. 

All of the above amounts relate to continuing activities. 

The notes on pages 9 to 14 form part of these financial statements. 

- 6 - 



## **SOUTHAMPTON 2025 TRUST** 

## **INCOME AND EXPENDITURE ACCOUNT** 

## **YEAR ENDED 31 MARCH 2021** 

||||**2021**|||_2020_||
|---|---|---|---|---|---|---|---|
||**Note**|**£**||**£**|_£_||_£_|
|**Income**|**2 & 3**|||446,440|||95,834|
|**Total expenditure**|**4 & 5**|||(83,401)|||(122,672)|
|||||-------------------------------------------|||-------------------------------------------|
|**Operating (deficiency)/surplus**||||363,039|||(26,838)|
|||||------------------------------------------|||-------------------------------------------|
|**Retained (deficit)/surplus for the**|**financial**|||||||
|**year**||||363,039|||(26,838)|
|||||==========================================|||=========================================|



The Income and Expenditure Account includes all gains and losses in the year and therefore a Statement of Total Recognised Gains and Losses has not been prepared. 

All of the above amounts relate to continuing activities. 

The notes on pages 9 to 14 form part of these financial statements. 

- 7 - 



## **SOUTHAMPTON 2025 TRUST** 

_Registered Number 07344461_ 

## **BALANCE SHEET** 

## **31 MARCH 2021** 

|||**2021**||_2020_||
|---|---|---|---|---|---|
||**Note**|**£**|**£**|_£_|_£_|
|**Current assets**||||||
|Debtors|7|177,500||_500_||
|Cash at bank||250,010||_18,230_||
|||_-------------------------------_||_-------------------------------_||
|||427,510||_18,730_||
|**Creditors: Amounts falling due**||||||
|**within one year**|8|(45,741)||-||
|||--------------------------------||_-------------------------------_|-|
|**Net current assets**|||381,769||_18,730_|
||||------------------------------------||----------------------------|
|**Total assets less current liabilities**|||381,769||_18,730_|
||||------------------------------------||----------------------------|
|**Net assets**|||381,769||_18,730_|
||||===================================||==========================|
|**Funds**||||||
|Restricted funds|9||365,349||_-_|
|Unrestricted funds|10||16,420||_18,730_|
||||----------------------------------||----------------------------|
|**Total funds**|||381,769||_18,730_|
||||===================================||============================|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 20 December 2021 and were signed on its behalf by: 

S Kaur Chairperson 

The notes on pages 9 to 14 form part of these financial statements. 

- 8 - 



**SOUTHAMPTON 2025 TRUST** 

_Registered Number 07344461_ 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **31 MARCH 2021** 

## **1. Accounting policies** 

## **1.1 Basis of preparation** 

Southampton 2025 Trust is a charitable company, limited by guarantee, registered in England and Wales. The company’s registered number and registered office address can be found on the Company Information page. 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

The financial statements have been prepared in accordance with 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 (FRS102) (effective for accounting periods beginning on or after 1 January 2019) - Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy notes. 

The going concern basis of accounting has been applied; this is considered to be appropriate by the Directors and Trustees.  The result of the City’s bid to be City of Culture will be known by May 2022. There is an assumption that continuing support for the Trust will be forthcoming from partner bodies to appropriately manage the future direction of the Trust whatever the outcome. 

The Charity's principal activities and nature of its operations are as detailed in the Trustees report. 

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. 

## **1.2  Income** 

All incoming resources are included in the statement of financial activities when the charity is entitled to, and there is sufficient certainty that receipt of the income is considered probable, and the income and the amount can be quantified with reasonable accuracy. 

Incoming donations are generally accounted for in the period in which they are received. Donated services and facilities are included at the value to the charity where this can be quantified. 

No value is ascribed to the voluntary work provided by the various individuals within the Southampton 2025 Trust (formerly Southampton Cultural Development Trust), many of whom give their time generously to promote the city’s culture and its history. 

## **Funds** 

Funds are classified between, restricted and unrestricted in accordance with any legal constraints upon their use, and the consequent degree of flexibility which the organisation has on using the incoming resources that give rise to the funds. 

Restricted funds are subject to specific conditions or trusts imposed by the donor or the terms of a specific appeal, which are binding on the organisation. 

Unrestricted funds are funds other than endowment or restricted funds and include funds designated for a specific purpose by the organisation. 

- 9 - 



## **SOUTHAMPTON 2025 TRUST** 

_Registered Number 07344461_ 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **31 MARCH 2021** 

## **1.3 Expenditure** 

Expenditure is classified under the following activity headings: 

**1.** Charitable activities – these are the administrative expenses involved in the general fund raising routines of the charity and its donations made. 

**2.** Governance costs – represents the stewardship expenses mainly incurred during the year. 

## **2. Donations and legacies** 

|**Donations**<br>Southampton City Council<br>Arts Council England<br>Southampton Solent University<br>Eventbrite<br>Artful Scribe<br>King Edward VI School|Unrestricted<br>Funds<br>Restricted<br>Funds<br>Total Funds<br>2021<br>Total<br>Funds<br>2020<br>£<br>£<br>£<br>£<br>-<br>246,440<br>246,440<br>65,452<br>-<br>-<br>-<br>22,744<br>-<br>-<br>-<br>200<br>-<br>-<br>-<br>1,938<br>-<br>-<br>-<br>500<br>-<br>-<br>-<br>5,000|
|---|---|
||-<br>246,440<br>246,440<br>95,834|



The income from donation and legacies was £246,440 (2020: £95,834) of which £nil (2020: £53,090) was unrestricted and £246,440 restricted (2020: £42,744). 

## **3. Charitable activity income** 

||Un-<br>restricted<br>Funds|Restricted<br>Funds|Total<br>Funds<br>2021|Total<br>Funds<br>2020||
|---|---|---|---|---|---|
||£|£|£|£||
|Partnership agreements for City of Culture|-|200,000|200,000||-|
||-|200,000|200,000||-|



- 10 - 



## **SOUTHAMPTON 2025 TRUST** 

_Registered Number 07344461_ 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **31 MARCH 2021** 

## **4. Charitable activity costs** 

|||Unrestricted|Restricted|Total Funds|_Total_|
|---|---|---|---|---|---|
|||Funds|Funds|2021|_2020_|
|||£|£|£|_£_|
||Projects|-|-|-|72,670|
||City of Culture|-|81,091|81,091|-|
||Salaries and associated costs|-|-|-|40,369|
||PR and communications|-|-|-|3,600|
|||-----------------------------------|-----------------------------------|---------------------------------------|---------------------------------------|
|||-|81,091|81,091|116,619|
|||=====================================|========================================|=====================================|=====================================|
|**5.**|**Governance costs**|||||
|||||**2021**|_2020_|
|||||**£**|_£_|
||Accountancy and payroll fees|||1,090|1,458|
||Sundry office expenses|||858|718|
||Bank charges|||19|79|
||Administration costs|||343|501|
||Website development|||-|282|
||Rent|||-|3,015|
|||||----------------------------|----------------------------|
|||||2,310|6,053|
|||||============================|============================|
|**6.**|**Employees**|||||
||**Number of employees**|||||
||The average monthly number of employees during the||year was:|||
|||||**2021**|_2020_|
|||||**£**|_£_|
||Administration|||-|_2_|
|||||============================|============================|
||**Employee costs**|||**2021**|_2020_|
|||||**£**|_£_|
||Wages and salaries|||-|29,055|
||Social security costs|||-|9,749|
||Pension|||-|1,545|
|||||-----------------------------|-----------------------------|
|||||-|40,349|
|||||===============================|===============================|



There were no employees in the year whose annual remuneration was £60,000 or more (2020: none). 

No trustees received remuneration in the current or prior year. 

- 11 - 



**SOUTHAMPTON 2025 TRUST** _Registered Number 07344461_ 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **31 MARCH 2021** 

|**7.**|**Debtors**|||||
|---|---|---|---|---|---|
|||||**2021**|_2020_|
|||||**£**|_£_|
||Donations and grants receivable|||177,500|500|
|||||============================|============================|
|**8.**|**Creditors: Amounts falling**|**due within one year**||||
|||||**2021**|_2020_|
|||||**£**|_£_|
||Other creditors|||(45,741)|-|
|||||----------------------------|----------------------------|
|||||(45,741)|-|
|||||============================|===========================|
|**9.**|**Restricted funds**|||||
|||**Balance at**||**Charitable**|**Balance at**|
|||**1 April 2020**|**Income**|**activities**|**31 March 2021**|
|||**£**|**£**|**£**|**£**|
||Restricted Fund|-|446,440|(81,091)|365,349|
|||================================|====================================|====================================|================================|
||**Analysis of movements in restricted funds**|||||
|||**Balance at**||**Charitable**|**Balance at**|
|||**1 April 2020**|**Income**|**activities**|**31 March 2021**|
|||**£**|**£**|**£**|**£**|
||City of Culture|-|446,440|(81,091)|365,349|
|||================================|====================================|====================================|================================|
||**Comparative information in respect of the preceding period is as follows:**|||||
|||**Balance at**||**Charitable**|**Balance at**|
|||**1 April 2019**|**Income**|**activities**|**31 March 2020**|
|||**£**|**£**|**£**|**£**|
||Restricted Fund|37,204|42,744|(79,948)|-|
|||================================|====================================|====================================|================================|



- 12 - 



## **SOUTHAMPTON 2025 TRUST** 

_Registered Number 07344461_ 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **31 MARCH 2021** 

## **9. Restricted funds (continued)** 

**Analysis of movements in restricted funds in respect of the preceding period is as follows** 

||**Balance at**|||**Balance at**|
|---|---|---|---|---|
||**1 Apr 2019**|**Income**|**Expenditure**|**31 Mar 2020**|
||**£**|**£**|**£**|**£**|
|Wolfson foundation|10,000|-|(10,000)|-|
|Mayflower 400|5,082|20,000|(25,082)|-|
|Creative Growth|9,515|-|(9,515)|-|
|Place Work|1,536|-|(1,536)|-|
|Conference|11,071|-|(11,071)|-|
|Arts Council England|-|22,744|(22,744)|-|
||--------------------------------|----------------------------------|- ------------------------------------|-----------------------------------|
||37,204|42,744|(79,948)|-|
||=========================|================================|=====================================|===================================|



## **10. Unrestricted funds** 

||**Balance at**|||**Balance at**|
|---|---|---|---|---|
||**1 Apr 2020**|**Income**|**Expenditure**|**31 Mar 2021**|
||**£**|**£**|**£**|**£**|
|General Funds|18,730|-|(2,310)|16,420|
||===================================|====================================|======================================|================================|
|General funds|||||



The ‘free reserves’ after allowing for all designated funds. 

## **Comparative information in respect of the preceding period is as follows:** 

||**Balance at**|||**Balance at**|
|---|---|---|---|---|
||**1 Apr 2019**|**Income**<br>**Expenditure**||**31 Mar 2020**|
||**£**|**£**|**£**|**£**|
|General Funds|8,364|53,090|(42,724)|18,730|
||===================================|====================================|======================================|================================|
|**Analysis of net assets between funds**|||||
|||**Unrestricted**|**Restricted**|**Total**|
||||**£**|**£**|
|Fund balances at 31 March|2021||||
|are represented by:|||||
|Debtors||500|177,000|177,500|
|Cash at bank and in hand||15,920|234,090|250,010|
|Creditors: amounts falling due within one year||-|(45,741)|(45,741)|
|||-----------------------------------|------------------------------------|-----------------------------------|
|**Total Funds**||16,420|365,349|381,769|
|||==================================|================================|================================|



## **11. Analysis of net assets between funds** 

- 13 - 



# **SOUTHAMPTON 2025 TRUST** 

_Registered Number 07344461_ 

## **NOTES TO THE FINANCIAL STATEMENTS** 

# **31 MARCH 2021** 

## **12.  Related party transactions** 

The charity enjoys a close working relationship with Southampton City Council (SCC) whose current representatives on the Board are Councillor S Kaur, Councillor D Fitzhenry and S Hopkins. Councillor L Mitchell was also on the board until October 2020. During the year the charity received contributions from SCC amounting to £246,440 (2020 - £65,452). 

- 14 -