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2023-03-31-accounts

Trustees Henry Thompson
Elaine Halford
Edward Rogers
Timothy
Morton
Bethan
Lloyd
Geoffrey Stagg
Michael Moreton (appointed on 03/04/23)
Secretary Angela Wright (Chief Officer)
Charity number 1139537
Company number 04029394
Registered office and principal address Business Box
3Oswin Road
Braunstone
Leicester
LE3 1HR
Auditor Thomas
Mayfield		 BAACA
Mayfield &Co.
2 Merus Court
Meridian
Business Park
Leicester
LE191RJ
Bankers Unity Trust Bank Pic
Nine Brindley Place
Birmingham
812HB
Solicitors Excello Law
Gresham
Works
38Market Street
Leicester
LE1BOP

Page
Trustees report 1 —15
Trustees
Responsibility		 Statement 16
Independent auditor's report 17 —19
Consolidated statement offinancial activities 20-21
Consolidated balance sheet 22-23
Charity balance sheet 24-25
Consolidated statement ofcash flows 26
Notes to the accounts 27-48

Henry Thompson
Elaine Halford
Edward Rogers
Timothy Morton
Bethan
Lloyd
Geoffrey Stagg
Michael Moreton (appointed on 03/04/23)

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2023 2022
Notes 6 6
Fixed assets
Tangible assets 12 1,225,096 1,227,054
Investment
properties		 13 7,890,000 7,890,000
9,115,096 9,117,054
Current assets
Debtors 15 74,025 86,646
Cash at bank and in hand 1,065,845 1,225,571
1,139,870 1,312,217
Creditors: amounts falling due within one
year 16 (261,436) (365,821)
Net current assets 878,434 946,396
Total assets less current liabilities 9,993,530 10,063,450
Provisions for liabilities 17 (531,000) (524,000)
Net assets 9,462,530 9,539,450
Capital funds
Endowment
funds		 19 5,000,000 5,000,000
Income funds
Restricted funds 20 67,136 57,840
Unrestricted
funds
Designated
funds		 22 463,137 465,288
General unrestricted funds 21 4,119,265 4,196,334
Revaluation
reserve		 343,988 343,988
Pension reserve (531,000) (524,000)
4395394 4,481,610
9,462,530 9,539,450

2023 2022
Notes
Fixed assets
Tangible assets 12 1,225,096 1,227,054
Investment
properties		 13 7,890,000 7,890,000
Investments 14 1 1
9,115,097 9,117,055
Current assets
Debtors 15 77,306 119,463
Cash at bank and in hand 948,809 1,087,512
1,026,115 1,206,975
Creditors: amounts falling due within one
year 16 (147,682) (260,580)
Net current assets 878,433 946,395
Total assets less current liabilities 9,993,530 10,063,450
Provisions for liabilities 17 (531,000) (524,000)
Net assets 9,462,530 9,539,450
Capital funds
Endowment
funds		 19 5,000,000 5,000,000
Income funds
Restricted funds 20 67,136 57,840
Unrestricted
funds
Designated
funds		 22 463,137 465,288
General unrestricted funds 21 4,119,269 4,196,334
Revaluation
reserve		 343,988 343,988
Pension reserve (531,000) (524,000)
4395394 4,481,610
9,462,530 9539450

Notes 2023 2022
6 6 6
Cash flows from operating activities
Cash (absorbed
by)/generated
from operations		 (167,665) (5,982)
Income taxes paid (107)
Net cash inflow from operating
activities		 (6,090)
Investing activities
Investment
income received		 7,939 405
Net cash generated
from/(used
in) investing		 activities 7,939 405
Net cash used in financing activities
Net (decrease)/increase
in		 cash and cash equivalents (159,726) (5,685)
Cash and cash equivalents at beginning
ofyear		 1,225,571 1,231,255
Cash and cash equivalents at end ofyear 1,065,845 1,225,571

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
E f E E f E
Donations
and gifts		 15,184 15,184 7,806 371 8,177
Grants 122,835 211,417 334,252 91,008 234,009 325,017
138,019 211,417 349A36 98,814 234,380 333,194
Unrestricted Restricted Total Unrestncted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
E E E E E E
Donations
General donations 15,184 15,184 7,806 371 8,177
15,184 15,184 7,806 371 8,177
Grants Receivable
Big Lottery Reducing Isolation
Fund 12,695 12,695
Big Lottery Community Fund
Work Live Leicestershire 93,261 93,261 63,256 63,256
Garfield Weston
Fund
Job Retention
Scheme		 6,441 6,441
Power to Change Grant 90,656 90,656 145,999 145,999
Masonic Foundation 19,817 19,817
Leicester City Covid 21,311 21,311
Barclays Community Football
Foundation 500 500
Action Homeless 10,000 10,000
Police Crime Commissioner 31,960 31,960 12,014 12,014
Football Foundation 16,319 16,319
NHS England
(LLR CCG)		 Getting
Help In Neighbourhoods Grant 49,790 49,790
Leicester City Council Public
Health
—Vaccine Confidence		 13,916 13,916
HAF Holiday
Hunger Scheme		 24,595 24,595 13,038 13,038
Leicester City Council Ward
Grant Extension
Project		 5,484 5,484
LVSRA Reaching People 20,700 20,700
Capacity Building grants 2,390 2,390
Other sundry grants 1,000 1,000 4,127 4,127
122,835 211,417 334,252 91,008 234,009 325,017

2023 2023 2023
Unrestricted Restricted Total
Services Provided Under Contract 362,509 362,509
Other Income 82,604 9,553 92,157
Advertising
Income		 2,837 2,837
Rent 8 Room Hire 984,351 984,351
1,432,301 9,553 1,441,854
2022 2022 2022
Unrestricted Restricted Total
Services Provided Under Contract 362,509 362,509
Other Income 83,274 942 84,216
Advertising
Income		 840 840
Rent & Room Hire 934,277 934,277
1,380,900 942 1,381,842

2023 2023 2023
Unrestdicted Designated Total
Interest received 3,486 4,453 7,939
3,4&6 4,453 7,939
2022 2022 2022
Unrestricted Designated Total
Interest received 169 236 405
169 236 405

6.
Charitable
act		 iv ities
Charitable Charitable Charitable Charitable
Activities Activities Total Activities Activities Total
Unrestricted Restricted 2023 Unrestricted Restricted 2022
Staff costs 634,496 110,327 744,823 586,150 131,287 717,437
Depreciation
and
impairment 1,958 1,958 2,300 2,300
Premises costs 388,265 33222 421,487 384,430 50,397 418,508
Motor and travel 3,784 76 3,860 2,857 2,857
l.egal and professional fees 8,721 8,721 16,892 16,892
Project activity and
equipment
costs		 138,645 63,323 201,968 94,190 53,862 148,052
Supplies and services 9,647 3,837 13,484 11,316 4,402 15,718
Irrecoverable
input		 VAT 55,296 889 56,185 41,254 3,498 44,752
Bank charges 3,545 3,545
Bad debts 1,081 1,081 1,076 1,076
Rebates due to tenants 39,771 39,771
1,241,893 211,674 1,453,567 1,183,781 243,446 1,427,227
Share ofgovernance costs
(see note 9) 88,829 88,829 81,536 81,536
1,330,722 211,674 1,542,396 1,265,317 227,127 1,508,763
Analysis
by fund
Unrestricted
funds		 1,297,803 1,297,803 1,163,654 1,163,654
Designated
funds		 32,919 32,919 101,663 101,663
Restricted funds 211,674 211,674 243,446 243,446
1,330,722 211,674 1,542,396 1,265,317 227,127 1,508,763

Total Total
Unrestricted Restricted 2023 2022
E E E f
Staff costs 146,780 146,780 138,749
Premises costs 138,754 138,754 99,065
Motor and travel 234 234
Legal and professional fees 2,530 2,530 2,623
Supplies and services 38,455 38,455 40,160
326,753 326,753 280,597
Support costs
Support costs Governance 2023 2022
costs
Staff costs 63,829 63,829 59,536
Audit and accountancy fees
25,000 25,000 22,000
88,829 88,829 81,536
Analysed between
Charitable activities 88,829 88,829 81,536

Employment
costs		 2023 2022
E E
Wages and salaries 757,499 734,111
Social security costs 55,397 52,899
Other pension costs 142,536 127,437
955,432 915,722
Unrestricted Total
Funds
2023 2022
E E
Revaluation ofinvestment properties 1,145,000

land and buildings Fixtures, fittings Total
gr equipment
E E
Cost
At 1April 2022 1,214,000 399,808 1,613,808
Revaluation
At 31March 2023 1,214,000 399,808 1,613,808
Depreciation and impairment
At 1April 2022 386,754 386,754
Depreciation charged in the year 1,958 1,958
At 31March 2023 388,712 388,712
Carrying amount
At 31March 2023 1,214,000 11,096 1,225,096
At 31March 2022 1,214,000 13,054 1,227,054

Investment
property
(Grou		 p and Charity)
2023
E
Fair value
At 1April 2022 7,890,000
Net gains or losses through fair value adjustments
At 31March 2023 7,890,000

Group Group Charity Charity
2023 2022 2023 2022
Amounts falling due within one year: 6
Trade debtors 74,025 86,646 40,391 57,689
Amounts due from subsidiary undertakings 36,915 61,774
Other debtors
74,025 86,646 77,306 119,463

31/03/2023 31/03/2022
(f000s) (6000s)
Fair value of plan assets 2,338 3,516
Present value ofdefined benefit obligation 2,869 4,040
Surplus (deficit) in plan (531) (524)
Unrecognised
surplus
Defined benefit asset (liability) to be recognised (531) (524)
Deferred tax
Net defined benefit asset (liability) to be recognised (531) (524)
31/03/2023
(6000s)
Defined benefit obligation at start of period 4,040
Current service cost
Expenses
Interest expense
Member Contributions
Actuarial
losses (gains)		 due to scheme experience (3)
Actuarial
losses (gains)		 due to changes in demographic assumptions -(7)
Actuarial
losses (gains)		 due to changes in financial assumptions (1,187)
Benefits paid and expenses (89)
Liabilities acquired
in a		 business combination
Liabilities extinguished on settlements
Losses (gains) on curtailments
Losses (gains) due to benefit changes
Exchange rate changes
Defined benefit obligation at end of period (2,869)

Period from 31
March 2022to
31March 2023
(E000s)
Fair value of plan assets at start of period 3,516
Interest income 98
Experience on plan assets (excluding amounts included in interest
income)
—gain (loss)		 (1,303)
Employer Contributions 116
Member Contributions
Liabilities acquired
in a business combination		 (89)
Assets acquired
in a business combination
Assets distributed
on settlements
Exchange rate changes
Fair Value of plan assets at end of period 2,338
Period from 31
March 2022to 31
March 2023
(E000s)
Current service cost
Expenses
Net interest expense 13
Losses (gains) on business combinations
Losses (gains) on settlements
Losses (gains) on curtailments
Losses (gains) due to benefit changes
Defined benefit costs recognised in statement ofcomprehensive income
(SOCI) 17

Period from Period from
31March 2022
to 31March
2023
(E000s)
Experience on plan assets (excluding amounts
included
in		 net interest cost)—
gain (loss) (1,303)
Experience gains and losses arising on the plan liabilities - gain (loss)
Effects ofchanges
in the		 demographic
assumptions		 underlying the present
value ofthe defined benefit obligation
—gain (loss)
Effects ofchanges
in the		 financial
assumptions
underlying		 the present value of
the defined benefit obligation
—gain (loss)		 1,187
Total actuarial gains and losses (before restriction due to some ofthe surplus
not being recognisable) —gain (loss) (106)
Effects ofchanges
in the		 amount ofsurplus that is not recoverable (excluding
amounts
included
in net		 interest cost) - gain (loss)
Total amount
recognised		 in other comprehensive income —gain (loss) (106)

18.
Defined Benefit Pension Scheme Continued
ASSETS
31/03/2023 31/03/2022
(E000s) (E000s)
Global Equity 44 675
Absolute
Return		 25 141
Distressed
Opportunities		 71 126
Credit Relative Value 88 117
Alternative
Risk Premia		 116
Fund of Hedge Funds
Emerging
Markets Debt		 13 102
Risk Sharing 172 116
Insurance-Linked
Secunties		 59 82
Property 101 95
Infrastructure 267 250
Private Debt 104 90
Opportunistic
llliqu&d Credit		 100 118
I-ligh Yield 30
Opportunistic
Credit		 13
Cash 17 12
Corporate
Bond Fund		 235
Liquid Credit
Long Lease Property 71 90
Secured Income 107 131
Liability
Driven Investment		 1,077 981
Currency
Hedging		 (14)
Net Current Assets 10
Tote IAssets 2,338 3,516

EYASSUMP TIONS
31March 2023 31March 2022
%per annum %per annum
Discount Rate 4 87% 2.79%
Inflation (RPI) 319% 357%
Inflation (CPI) 2.75% 3 19%
Salary Growth 3.75% 4.19%
Allowance for commutation of pension for cash at 75%of maximum 75%of maximum
retirement allowance allowance

Life expectancy
etage 65
(Years)
Male retiring in 2023 21.0
Female retiring in 2023 23.4
Male retiring in 2043 22.2
Female retiring in 2043 24.9

As At Movements As At As At Movements As At
01/04/2021 31/03/2022 01/04/2022 31/03/2023
Capital Endowment 5,000,000 5,000,000 5,000,000 5,000,000
5,000,000 5,000,000 5,000,000 5,000,000
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Name of undertaking Registered Nature ofbusiness Class of % Held
Office shares held Direct Indirect
8-Inspired (Trading) Ltd England Rental ofoffice space Ordinary 100.00

8-Inspired
(Trading) Ltd
2023 2022
E E
Income 463,094 440,263
Expenditure (463,094) (440,263)
Net profit/(loss)
The aggregate ofthe assets, liabilities and funds was:
Assets 150,670 166,985
Liabilities (150,669) (166,984)
Funds

27.
Cash generated		 from operations from operations from operations
2023 2022
6 6
Surplus for the year (69,920) 1,071,081
Adjustments
for:
Taxation 183
Investment
income		 recognised in statement offinancial activities
(7,939) (405)
Fair value gains and losses on investment properties
(1,145,000)
Depreciation
and impairment		 oftangible fixed assets
1,958 2,300
Movements
in working capital:
(Increase)/decrease in debtors 37,449 (29,968)
Increase/(decrease) in creditors (99,655) 30,869
Increase/(decrease) in deferred income (29,741) 65,141
Cash (absorbed by)/generated from operations (167,665) (5,982)