Company Registration Number 7304473 Charity Registration Number 1142076 Jubilee Centre (Cambridge) Company Limited by Guarantee Unaudited Financial statements 31 March 2023
Jubilee Centre {Cambridge) Trustee< Report and Unaudited Accounts For the Year Ended 31 March 2023 CONTENTS Pages Trustees, Report Independent examinerfs report Statement of Financial Activities Balance Sheet Statement of Cash flow Notes to the Accounts 11 12 14 15-23
Jubilee Centre (Cambrldge) TNstees' Report and Unaudited Accounts For the Year Ended 31 March 2023 The Trustees present their report and unaudited accounts for the year ended 31 March 2023. Trustees who served during the year and to the date of this report Dr Paul Mills (Appointed 31 October 2022) Kim Pearson (Appointed 31 October 2022) Catherine Hammond (Appointed 31 October 2022} Dr Michael Schluter (Appointed 31 October 2022) Timothy Stephen Adams (Resigned 31 October 2022) Abigail Bradshaw (Resigned 31 October 2022) Sue Halliday {Resigned 31 October 2022) Ross Hendry (Resigned 31 Ortober 2022) Ralph Lee (Resigned 31 October 2022) Chair Dr Michael Schluter Ralph Lee (Resigned 31 October 2022) Registered Offi Allia Future Business Centre, King's Hedges Road, Cambridge, England, CB4 2HY Independent Examlner Keith Haddow 24 Mingle Lane, Stapleford, Cambridgeshire
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Trustees. Report The financial statements complywith the Charities Act 2011. the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting of Charities: Statements 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) {effective l January 2019). Objectives and Activities The main objective of the Jubilee Centre (Cambridge) as stated in the Memorandum and Articles of Association is the promotion of the Christian religion and the advancement of education by: Carrying out research into what the Bible teaches about social, political and economic institutions and policy and whatthe Bible says about such institutions and how policy can be used to provide insight into the problems of contemporary societies. Publishing the findings of such research intothe general public and in particular to Christian churches and Christians through teaching, preaching and writing. Public Benefrt Statement The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on Public Benefit. Charities and Public Benefrt. All of the Charity's activities are intended to contribute towards the realisation of the vision-promoting the social. economic. envtronmental and spiritual welfare of all of society. Achievements and performance In 2022123, the Charity shifted its emphasis to focus on change in the approach to business management in the UK. During 22/23 saw the launch of our new research report 21" Century Pioneers , this highlighted the role that Christians play atthe forefront of purpose-driven enterprises in the UK. In Spring 2022 the research team conducted fieldwork across the UK in one of the largest studies of its kind. looking at how Christians played a key role in their
Jubilee Centre (Cambrldge) Trustees. Report and Unaudited Accounts For the Year Ended 31 Marth 2023 enterprises to showcase great business practice but at the same time contribute back to their local communities for causes which remain at the heart of what we as a Charity Stand for. This report can be accessed along with all our other research material at www.jubilee-centre.org/research-reports. As well as our Research report we also launched our first Learning Lab in June 2022. The Charitls vision of Learning Labs is to bring together a group of larger churches across the UK to explore how they support their own members who work in the private sector, to identify good practice and to work out if we could this better. The results of which would be shared nationally. Our first discussion Paper on Reimagining Ministry and Mission explores the key issues and possibilities facing churches in this important area of endeavour. The Paper has been shared to stimulate wider debate and build a national movement in change. Blogs were posted on the CharlS website and the team worked hard to prepare and publish relevant content in line with the aims of the Charity. alongside newsletters being published to our supporters on relevant topics. The Jubilee Centre's Trustees made the tough decision in October 2022 to cease all day-to-day operations, making all staff redundant. due to the Charity's longstanding financial pressures making the Charity unsustainable in its current form. In November 2022, Dr Michael Schluter returned to the Jubilee Centre along with a fresh set of Trustees to ensure that the Centre's work continues to be available over many years to come. In 2023/24 the Jubilee Centre is returning to its original purpose: to promote a Christian relational vision for society. During April 2023. a substantial legacy was received which has provided the Charity with the funding required to invest in and grow future activities. Plans for the future Promotion of a Christian relational vision for society involves developing and maintaining biblically informed relational policies and practices to build stronger families and communities, promoting a business model based on stskeholder
Jubilee Centre (Cambrldge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 involvement, and teaching care for the environment motivated by love of God and love of neighbour. Our core mission remains the same - to continue to promote a Christian vision for nation-building and public policy with an emphasis on stronger families and communities, fair stakeholder relationships in companies, and environmental flourishing both now and for future generations. Financial Review 2022123 Income Income for 2022/23 amounted to £67,498 (7 months period ending March 2022: £130,308) a decrease of £62,812 on last year. Expenditure Charitable expenditure 2022/23 amounted to £99,136 (7 months period ending March 2022: £179,025) a decrease of £79,891 from the prior reported period. Reserves All reserrfes held by the charity were unrestricted reserves as at 31 March 2023 £28 and as at 31 March 2022: £31.666. Please refer to Page 9 for the Reserves policy.
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Structure. Governance and Management The Charity is a company limited by guarantee, governed by a Memorandum and Articles of Association. The Companvs objects and Articles of Association as submitted to the Charity Commission and Companies House follow that: The charivs Board is the ultimate decision-making body to manage the organisation on a day-to-day basis. Board members will also be known as directors for the purposes of company law. The number of Trustees is subject to a maximum of ten but shall never be less than three. A Trustee's term of office shall be five years from the date of appointment, there is no limit on the number of times a Trustee's term of office may be extended. The Trustees may appoint a person who is willing to act to be a Direttor. A Trustee shall cease to hold office if he or she is absent without the permission of the Directors from three consecutive meetings and the Directors resolve that his or her office be vacated. Staternent of Trustees. Responsibilitie5 The Trustees (who are also Directors of the Jubilee Centre (Cambridge) 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, 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 charity for that year. 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 the Charities SORP 2019 {FRS 102). Make judgements and estimates that are reasonable and prudent.
Jubllee Centre (Cambrldge) Trustees, Report and Unaudited Accounts For the Year Ended 31 Marth 2023 State whether applicable UK Accounting Standards have been followed, subject to any material 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 operatson. The Trustees are responsible for keepTng adequate 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. The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Charitsble Companvs website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions. Trustee Induction and training Once new Trustees have been appointed, they go through an internal induction process where they are invited to meet key Trustees. During their induction, new Trustees are briefed on their legal obligations under charity and company law. Organisation The governing body of the Charity is the Board of Trustees, which met every two months during the financial year 2022123. 5 Trustees including the Chair served until October 2022/23 and 4 Trustees thereafter. Risk and Internal Control The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. Trustees are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities providing reassurance that: The Charity complie5 With relevant law5 and regulations. Its assets are safeguarded against unauthorised use or disposltion.
Jubilee Centre (Cambridge) Trustees, Report and Unaudlted Accounts For the Year Ended 31 March 2023 Proper records are maintained, and financial information used within the Charity or for publication is reliable. The principal risks facing the Charity are financial in ensuring that sufficient rnonies are available to ensure the continuity of ongoing activities of the Charity. The Charity is looking to mitigate this risk by reviewing diverse and sustainable sources of income to achieve its strategic objectives. There are no plans to employ staff. Reserves Policy Jubilee Centre (Cambridge) does not currently employ staff and therefore the Trustees see no current requirement to reserve funds to cover staff costs. Mr Kim Pearson Treasurer Date: 11 December 2023
Jubilee Centre (CambrSd8e) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Independent Examinerfs Report to the Trustees of Jubllee Centre (Cambridge) For the year ended 31 Marth Z023 I report to the Trustees on my examination of the financial statements of Jubilee Centre (Cambridge) "the charit¢, for the year ended 31 March 223. Responslbilitles and basls of report A5 the chariws trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Art 2006 {'the 2LX)6 Acv). Having Satisfied myself that the accounts of the Company are not Tequired to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your chariws accounts as carried out under section 145 of the Charltie5 Act 2011 I'the 2011 ACVI. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5} (b) of the 2011 Art. Independent examlnerfs ststement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination givlng me cause to believe: l. accounting records were not kept in respert of the Company as required by section 386 of the 2(X)6 Act; or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the accounting requirements of sertion 396 of the 2006 Att 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prattice for accounting and reporting by charities preparing their accounts in accordance wtth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no Concerns and have come acros5 no other matters in connection with the ex3mination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Keith Haddow FCA Independent Examiner 10
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Statement of Financial Activities Including Income and Expenditure Account For The Year Ended 31 March 2023 Total Total 01 Sep 21- 2023 31-Mar-22 Unrestricted Funds Notes Income Donations and legacies Income from charitable activities Other income 54.394 54,394 12,394 12,394 710 710 85,126 22,207 22,975 Total Incoming resources 67,498 67.498 130,308 Ex enditure Expenditure on charitsble activities (99.136) (99.136) (179,025) Total expenditure (99.136) (99.136) (179,025) Net movement In fvnds (31,638) (31,638) (48,717) Reconciliation of Funds Fund Balance at l April 2022 31,666 31,666 80,383 Total funds carried forward 28 31,666 All of the activities of the Charitable Company are classified as continuing. The notes on pages 14-22 form part of these financial statements. li
Jubilee Centre (Carnbridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Balance Sheet as at 31 March 2023 Company Number: 7304473 2023 2022 Notes Current Assets Debtors 8,163 Cash at bank and in hand 2.452 2,452 39,180 47,343 Creditors: amounts falling due within one year 13 12,424) (3,677) Total assets less current liabilities 28 43,666 Creditors: amounts falllng due after more than one year {12,000) Net assets 28 31,666 The funds of the Charity Unrestricted funds 28 31,666 28 31,666 For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 related to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts, ensuring that they give a true and fair view of the state of affairs of the charitable company as at 31 March 2023 and of its surplusforthe yearthen ended in accordance with the requirements of Section 396 and which otherwise comply with the requirements of the Act relating to the financial ststements as far as applicable to the Charitable company. 12
Jubllee Centre {Cambrfdge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2023 These financial ststements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006. The notes on pages 15-23 form part of these financial statements. Approved by the Board of Trustees 11 December 2023 and signed on its behalf by: Mr Kim Pearson Treasurer 13
Jubilee Cerrtre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Statement of Cash Flow As at 31 March 2023 2023 01 Sep 21- 31-Mar 22 Income for the reporting periods {as per the statement of financial artivities) Adjustments for: Depreciation of tangible fixed assets Depreciation of heritage assets (Gain}/Loss on disposal of tangible fixed assets Gains on disposals of heritage assets Accrued expenses (31,638) (48,717) 2,432 23,726 426 {21,5461 2,800 {150) Changes In: Stock Trade and other debtors Trade and other creditors Net cash flow from operating activities 5,919 8.163 {181} {1,253) 9,517 124,878) {25,624) Cash flows from Investing activities: Proceeds from sales of tangible assets Proceeds from sale of heritage assets Net cash flow from investing artivities 150 27,399 27,399 150 Cash flows from financing artivities: Repayment of borrowing Net cash flow from financial activities (12.000) (12.000) Net increase/(decrease) in cash Cash and cash equivalents at l April 202211 September 2021 (36.728) 1,775 39.180 37,405 Cash and cash equivalents at 31 March 2023 Cash and cash equivalents consists of: Cash at bank and in hand 2.452 39,180 2,452 2,452 39,180 39,180 14
Jubilee Centre {Cambridge) Trusteeg Report and Unaudited Accounts For the Year Ended 31 March 2023 Notes fomiing part of the Financial Statements for the year ended 31 March 2023 l. Accounting Pollcles The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows- (a} Basis of Preparation 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 (FRS 102) {effective January 2015) (Charities SORP 2019) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy note{s). They are prepared in sterling which is the functiona5 currency of the Charitable Company and rounded to the nearest £1. (bl Preparation of the accounts on a going concem basis The Trustees have considered the financial sustainability of the charity for both existing and future funding streams. The Charity received a substantial legacy in April 2023 that has provided the funding to invest in and grow future activities. The trustee5 are confident that both the cost management measures in place as well as the decision to not employ staff will ensure the continuity of the Charity over the new two years. On this basis the assessment of the trustees is that the charity is a going concern. (c) Fund Accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Such funds may be held to finance both working capitsl and capital investment. 15
Jubilee Centre (Cambridge) Tru5tees' Report and Unaudited Accounts For the Year Ended 31 March 2023 (d) Income All incoming resources are included in the statement of financial activities when the Charity is entitled to the income. there is sufficient certainty of receipt, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income. Grant income is included when the related conditions to the grant have been met. Donations and legacies income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. All other income is accounted for on a receivable basis. le) Expendlture Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required, and the amount of the obligation can be measured reliably. The accounts are prepared on the accruals basis, liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to expenditure. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Expenditure on raisingfunds consists of all those expenses that are incurred by trading for a fundraising purpose in either donated or brought-in-goods or in providing non-charitable services to generate income. as well as the Costs associated with attracting voluntary income. Expenditure on charitsble activities comprise all the resources applied by the Charity in undertaking its work to meet its charitable objectives as well as the cost of raising the funds to finance these activities and governance costs. Charitable activities are all the resources expended by the Charity in the delivery of goods and services, including its programme and project work that is directed at the achievement of its charitable aims and 16
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 objectives. These costs include direct costs of the charitable activities together with those support costs incurred that enable these activities to be undertaken, as well as governance costs which relate to the general running of the Charity as opposed to the direct management functions inherent in generating funds. service delivery and programme of project work. These attivities provide the governance infrastructure which allows the Charity to operate and to generate the information required for public accountability and include the strategic planning purposes that contribute to future development of the Charity. Governance costs include such items as external audit, legal advice for Trustees and costs a55ociated with the constitutional and statutory requirements of the Charity. All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. lfj Tangible Assets Tangible assets are defined as those that have a greater value than £1,000. They are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses. An increase in the carrying amount of the assets as a result of a revaluation is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the SOFA. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the SOFA. Depreciation is calculated to write off the cost or valuation of an assets, less its residual value, over the useful economic life of that asset as follows: Fixture and Fittings 10 % straight-line on a full month basis 17
Jubilee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Equipment 10 % straight-line on a full month basis (g) Heritage assets The Jubilee Centre (Cambridge) managed the production of five sculptures previously displayed publicly in Cambridge up to 20 January 2020. Four of the sculptures were disposed over 2022 and 2023. The remaining sculpture was fully depreciated for the period ended 31 March 2022. 2 Legal status of the Trust The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 3 Income Unrestricted Total Funds Unrestricted 2023 2022 Total Funds 2022 2023 Donations 54.394 54.394 85.126 85,126 Income fr(Hn charitable actlvltles Charitable activities Grants 10.207 12,OC 10,207 12,000 12.394 12,394 Other income Gain on disposal of tangible fixed assets held for charity'5 own use Gain on disposal of heritage assets held for charity's own use Sales of publications Other income 150 150 1426} (4261 21,546 21.546 510 510 423 1,432 423 1,432 Total 67.498 67.498 130.308 130,308 18
Jubilee Centre (Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2023 4 Total Expenditure The Statement of Financial Activities provides an analysis of the resources expended by the charity by the nature of activities undertaken by the charity. Expenditure on charftable activities Total 2023 QI Sep 21- 31-Mar 22 Total Total Accountancy Advertising & Marketing Consultancy Depreciation Events 4.839 490 4.839 490 1,861 3,990 2.265 4,180 26.158 1.118 885 1.861 80 Fees 758 758 Governance Costs ioi ioi 221 Insurance 356 356 2,167 10,882 30.866 698 IT costs Office costs Other Printing and postage Salaries and wages Sculpture expenses Stationery Subscriptions Travel Total Resource5 Expended 554 554 2,116 607 2.116 607 3,683 83,380 3.683 83.380 10,787 80,939 5,434 440 80 150 150 145 81 81 87 99.136 99.136 179,025 Expenditure in 2023 and 2022 was all unrestrirted. 19
Jubilee Centre Icambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 5 Net {expenditure)/income Net {expenditure)fincome is stated after thar8inyJ(creditin81: 2023 2022 Depreciation of tangible fixed assets 2,432 Depreciation of heritage assets Los51{Gain) on disposal of tangible fixed assets Gains on disposal of heritage assets 23,726 <150) 426 {21,5461 6 Independent examination fees Period from Year to 01 Sep 21- 31-Mar-23 31-Mar-22 900 Independent examination fees 7 Staff costs The total staff and employee benefits for the period are analysed as follows: Period from 01 Sep 21- 31-Mar-22 Yearto 31-Mar-23 75,779 2,570 5,030 83,379 Wages and salaries Social Security costs Employer contributions to pension plans 70,357 5,728 4,854 80,939 The average head count of employees during the period was 3 (2022.6). No employee received employee benefsts of more than £60,000 during the year (2022: nil). 20
Jubllee Centre {Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 8 Trustees None of the Trustees or any persons connected with them received any remuneration or expenses during the year (2022: nil). 9 Taxation The Company is a registered Charty. and no provision is considered necessary for taxation to the extent that income and gains are applied to its charitable objects. 10 Tangible Fixed Assets Flxtures and ffttings Equipment Total Costs A5 01 April 2022 Disposals As at 31 March 2023 4.388 {4,388) 3,687 8,075 (3,687) 18,0751 Depredati As 01 April 2022 Disposals As at 31 March 2023 4.388 {4,3881 3.687 13.6871 8.075 18,0751 Net Book Value 31 March 2023 Net Book Value 31 March 2022 11 Herftage Assets Iptures Total Costs As 01 April 2022 Disposals As at 31 March 2023 37.270 115.1191 22.151 37,270 115,1191 22.151 Depreclatlon As 01 April 2022 Disposals As at 31 March 2023 37,270 (15,119) 22,151 37,270 (15,1191 22.151 Net Book Value 31 March 2023 Net Book Value 31 March 2022 21
Jubllee Centre (Cambridge) Trustees, Report and Unaudited Accounts For the Year Ended 31 March 2023 Summary of transactlons 31-Mar-23 31-Mar-22 Included in the statement of financial position Carrying amount of disposals 5,853 Proceeds from disposals 27,399 12 Debtors 2023 2022 Trade debtors Other debtors Total 3,094 5,068 8,163 13 Creditors Creditors: amount falling due within one year 2023 2022 Trade creditors Social security and other taxes Other creditors 2,264 2,294 777 606 160 Total 2.424 3,677 Creditors: amount falling due after more than one year 2023 2022 Other creditors 12,000 Total 12,000 In 2022 there was a loan from The Porters Trust which was repaid in 2023. 22
Jubllee Centre (Cambridge) Trustees. Report and Unaudited Accounts For the Year Ended 31 March 2023 14 Analysis of Fund Movements Balance at I 0110412022 31,666 31,666 Movement in funds Balan at 31 Income Expenditure 67,498 67.498 3110312023 Unrestricted Funds Total Funds (99,136) (99,136) Balance at I 0110912021 80,383 80,383 Movement in fvnds Balance at 31 Income Expenditure 130.308 (179,025> 130,308 (179,0251 Prior Period Unrestricted Funds Total Funds 3110312022 31,666 31.666 15 Analysis of Net Assets Between Funds Unrestrirted funds Total Fund balances at 31 Mar 2023 are represented by: Current Assets Creditors.. amounts falling due within one year 2,452 {2,424) 2,452 (2,424) Total 28 28 Fund balances at 31 Mar 2022 are represented by: Cu rrent Assets Creditors: amounts falling due within one year Creditors: amounts falling after more than one year 47,343 {3,677) (12.000) 47,343 (3,677} {12,000) Totsl 31,666 31,666 23