#
##
||Page|
|---|---|
|Reference and Administrative Details ofthe Company, its Trustees and Advisers|1|
|Foreword|2-3|
|Trustees' Report|4-10|
|Independent Auditors' Report on the Financial Statements|11-14|
|Consolidated Statement of Financial Activities|15|
|Consolidated Balance Sheet|16|
|Company Balance Sheet|17|
|Consolidated Statement ofCash Flows|18|
|Notes to the Financial Statements|19-39|
##
|Trustees|J Newman, Chair ofTrustees
J Rogers, Chief Executive|
|---|---|
||A Malhotra, Non-Executive Director|
||D Langton, Non-Executive Director|
||E Bannerman, Non-Executive Director|
||KA Fraser, Non-Executive Director|
||N L McKenna, Non-Executive Director|
||R Hill, Non-Executive Director|
||L Winward, Non-Executive Director
J Abboud, Non-Executive Director|
||S L Munro, Non-Executive Director|
||J G Restell, Non-Executive Director|
|Company registered
number|07333911|
|Charity registered
number|1143246 & SC045901|
|Registered office|Vertigo
Cheese Lane|
||Bristol|
||BS20JJ|
|Chiefexecutive officer|J Rogers|
|Independent auditors|Bishop Fleming LLP
Chartered Accountants|
||Statutory Auditors
10 Temple Back|
||Bristol|
||BS1 6FL|
|Bankers|HSBC Bank PLC|
||Cabot Circus|
||Bristol|
||BS1 3BA|
|Solicitors|TLT LLP|
||1 RedcliffStreet|
||Bristol|
||BS16TP|
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|||Unrestricted
funds
2024|Restricted
funds
2024|Continuing
operations
2024|Discontinued
operations
2024|Total
funds
2024|Continuing
operations
2023|Discontinued
operations
2023|Total
funds
2023|
|---|---|---|---|---|---|---|---|---|---|
||Note|£|£|£|£|£|£|£|£|
|Income from:||||||||||
|Donations and legacies|4||5,165|5,165||5,165||||
|Charitable activities|5|5,058,315||5,058,315||5,058,315|5,799,334||5,799,334|
|Other trading activities|6|4,442,758||4,303,475|139,283|4,442,758|3,572,440|781,767|4,354,207|
|Investments|7|287,204||287,204||287,204|208,865||208,865|
|Other income|8|2,302,258|||2,302,258|2,302,258||||
|Total income||12,090,535|5,165|9,654,159|2,441,541|12,095,700|9,580,639|781,767|10,362,406|
|Expenditure on:||||||||||
|Raising funds||3,453,276||3,453,276||3,453,276|3,990,101||3,990,101|
|Charitable activities||6,818,169||6,590,338|227,831|6,818,169|5,697,998|733,281|6,331,279|
|Total expenditure||10,271,445||10,043,614|227,831|10,271,445|9,588,099|733,281|10,321,380|
|Net movement in funds||1,819,090|5,165|(389,455)|2,213,710|1,824,255|(7.460)|48,486|41,026|
|Reconciliation offunds:||||||||||
|Total funds brought forward||9,686,027||9,686,027||9,686,027|9,645,001||9,645,001|
|Net movement in funds||1,819,090|5,165|(389,455)|2,213,710|1,824,255|(7,460)|48,486|41,026|
|Total funds carried forward||11,505,117|5,165|9,296,572|2,213,710|11,510,282|9,637,541|48,486|9,686,027|
##
||||2024||2023|
|---|---|---|---|---|---|
||Note||£||£|
|Fixed assets||||||
|Intangible assets|13||158,025||330,791|
|Tangible assets|14||1,772,216||1,792,666|
|Investments|16||437,500|||
|Investment property|15||484,716||484,716|
||||2,852,457||2,608,173|
|Current assets||||||
|Debtors|17|2,676,307||1,882,309||
|Cash at bank and in hand||7,558,013||7,350,879||
|||10,234,320||9,233,188||
|Creditors: amounts falling due within one||||||
|year|18|(1,576,495)||(2,155,334)||
|Net currentassets|||8,657,825||7,077,854|
|Total netassets|||11,510,282||9,686,027|
|Charity funds||||||
|Restricted funds:||||||
|Restricted funds|20|5,165||||
|Unrestricted funds||||||
|Designated funds|20|300,469||667,000||
|General funds|20|11,204,648||9,019,027||
|Total unrestricted funds|20||11,505,117||9,686,027|
|Total funds|||11,510,282||9,686,027|
##
||||2024||2023|
|---|---|---|---|---|---|
||Note||£||£|
|Fixed assets||||||
|Intangible assets|13||147,982||300,661|
|Tangible assets|14||1,764,766||1,789,666|
|Investments|16||437,502||2|
|Investment property|15||484,716||484,716|
||||2,834,966||2,575,045|
|Currentassets||||||
|Debtors|17|3,927,938||3,101,145||
|Cash at bank and in hand||7,487,044||7,233,977||
|||11,414,982||10,335,122||
|Creditors: amounts falling due within one||||||
|year|18|(1,372,369)||(1,829,794)||
|Net currentassets|||10,042,613||8,505,328|
|Total net assets|||12,877,579||11,080,373|
|Charity funds||||||
|Restricted funds:||||||
|Restricted funds|20|5,165||||
|Unrestricted funds||||||
|Designated funds|20|300,469||667,000||
|General funds|20|12,571,945||10,413,373||
|Total unrestricted funds|20||12,872,414||11,080,373|
|Total funds|||12,877,579||11,080,373|
##
##
||2024|2023|
|---|---|---|
||£|£|
|Cash flows from operating activities|||
|Net cash used in operating activities|(725,092)|(425,296)|
|Cashflows from investing activities|||
|Interest received|287,204|208,865|
|Proceeds from the sale ofoperations|839,732||
|Purchase of intangible assets|(120,631)|(47,602)|
|Purchase of tangible fixed assets|(74,079)|(24,786)|
|Netcash provided by investing activities|932,226|136,477|
|Change in cash and cash equivalents in the year|207,134|(288,819)|
|Cash and cash equivalents at the beginning ofthe year|7,350,879|7,639,698|
|Cash and cash equivalents atthe end ofthe year|7,558,013|7,350,879|
|The notes on pages 19 to 39 form part ofthese financial statements|||
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||Grants|||
|---|---|---|---|
|5.|INCOME|FROM|CHARITABLEACTIVITIES|
|Restricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2024|2024|2023|
|£|£|£|
|5,165|5,165||
|Unrestricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2024|2024|2023|
|£|£|£|
|5,058,315|5,058,315|5,789,334|
|5,799,334|5,799,334||
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2024|2024|2023|
||£|£|£|
|Completion|1,943,829|1,943,829|1,207,881|
|Consultancy|995,575|995,575|1,243,104|
|Registrations|1,189,353|1,189,353|1,475,998|
|Other|314,001|314,001|427,224|
||4,442,758|4,442,758|4,354,207|
|TOTAL 2023|4,354,207|4,354,207||
##
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##
||Activities||||
|---|---|---|---|---|
||undertaken
directly
2024|Support
costs
2024|Total
funds
2024|Total
funds
2023|
||£|£|£||
|Education and training|4,594,721|2,223,448|6,818,169|6,331,279|
|TOTAL 2023|4,030,638|2,300,641|6,331,279||
##
##
##
||Education|||
|---|---|---|---|
||and|Total|Total|
||Training
2024|funds
2024|funds
2023|
||£|£|£|
|Staffcosts|3,275,583|3,275,583|3,137,043|
|Depreciation|173,972|173,972|398,388|
|Consultancy|912,988|912,988|303,395|
|Bad debt provision|12,665|12,665|7,812|
|Travel and subsistence|88,507|88,507|98,230|
|Subscriptions|36,938|36,938|27,544|
|Apprenticeships|95,740|95,740|55,718|
|VAT adjustments|(1,346)|(1,346)|1,530|
|Difference on foreign exchange|(326)|(326)|978|
||4,594,721|4,594,721|4,030,638|
|TOTAL 2023|4,030,638|4,030,638||
##
##
|||Education|||
|---|---|---|---|---|
|||and|Total|Total|
|||Training
2024|funds
2024|funds
2023|
|||£|£|£|
||Staffcosts|931,551|931,551|1,259,021|
||Insurance|75,919|75,919|71,817|
||Bank charges|9,380|9,380|7,683|
||Office costs|28,007|28,007|38,324|
||Staff recruitment|60,283|60,283|104,407|
||Agency and other staffcosts|116,507|116,507|5,710|
||Professional fees|11,787|11,787|15,578|
||Premises costs|132,984|132,984|122,606|
||Computer costs|642,824|642,824|542,981|
||Travel and subsistence|23,545|23,545|13,745|
||Advertising and promotion|166,422|166,422|93,269|
||Governance costs|24,238|24,239|25,500|
|||2,223,448|2,223,448|2,300,641|
||TOTAL 2023|2,300,641|2,300,641||
|10.|NET INCOMING RESOURCES/(RESOURCES EXPENDED)||||
||This is stated after charging:||||
||||2024|2023|
||||£|£|
||Depreciation of tangible fixed assets||94,529|99,878|
||Amortisation of intangible fixed assets||100,655|352,548|
||Auditors remuneration||26,020|23,500|
||Operating lease rentals||20,750|20,750|
##
##
||Group|Group|Company|Company|
|---|---|---|---|---|
||2024|2023|2024|2023|
||£|£|£|£|
|Wages and salaries|5,543,398|5,475,970|3,601,459|3,746,379|
|Social security costs|404,422|419,274|404,422|419,274|
|Contribution to defined contribution pension|||||
|schemes|220,754|236,572|220,754|236,672|
||6,168,574|6,131,816|4,226,635|4,402,225|
|||Group|Group|
|---|---|---|---|
|||2024|2023|
|||No.|No|
|Operational|Staff|103|110|
|||||Group|Group|
|---|---|---|---|---|---|
|||||2024|2023|
|||||No.|No.|
|In|the|band|£60,001 -£70,000|8|8|
|In|the|band|£70,001 -£80,000|5|3|
|In|the|band|£80,001 -£90,000|2|4|
|In|the|band|£90,001 -£100,000|1|2|
|In|the|band|£100,001 -£110,000|2||
|In|the|band|£140,001 -£150,000||1|
##
##
##
##
||Develop-
ment|Goodwill|Total|
|---|---|---|---|
||£|£|£|
|COST||||
|At
1 October 2023|2,113,323|370,883|2,484,206|
|Additions|67,823|52,808|120,631|
|Disposals|(1,403,992)||(1,403,992)|
|At 30 September 2024|777,154|423,691|1,200,845|
|AMORTISATION||||
|At 1 October 2023|1,812,662|340,753|2,153,415|
|Charge for the year|47,526|20,087|67,613|
|On disposals|(1,178,208)||(1,178,208)|
|At 30 September 2024|681,980|360,840|1,042,820|
|NET BOOKVALUE||||
|At 30 September 2024|95,174|62,851|158,025|
|At 30 September 2023|300,661|30,130|330,791|
##
##
||Develop-
ment|Goodwill|Total|
|---|---|---|---|
||£|£||
|COST||||
|At 1 October 2023|2,095,563||2,095,563|
|Additions|67,823|52,808|120,631|
|Disposals|(1,403,992)||(1,403,992)|
|At 30 September 2024|759,394|52,808|812,202|
|AMORTISATION||||
|At
1 October2023|1,794,902||1,794,902|
|Charge for the year|47,526||47,526|
|On disposals|(1,178,208)||(1,178,208)|
|At 30 September 2024|664,220||664,220|
|NET BOOKVALUE||||
|At 30 September 2024|95,174|52,808|147,982|
|At 30 September 2023|300,661||300,661|
##
##
##
||||Short-term||||
|---|---|---|---|---|---|---|
|||Freehold|leasehold|Fixtures and|Office||
|||property
£|property
£|fittings
£|equipment
£|Total
£|
|COST OR VALUATION|||||||
|At|1 October 2023|1,653,469|120,057|164,703|495,306|2,433,535|
|Additions||26,775||16,023|31,281|74,079|
|At|30 September 2024|1,680,244|120,057|180,726|526,587|2,507,614|
|DEPRECIATION|||||||
|At|1 October 2023|40,206|120,057|64,630|415,976|640,869|
|Charge for the year||19,650||28,312|46,567|94,529|
|At|30 September 2024|59,856|120,057|92,942|462,543|735,398|
|NET BOOKVALUE|||||||
|At|30 September 2024|1,620,388||87,784|64,044|1,772,216|
|At|30 September 2023|1,613,263||100,073|79,330|1,792,666|
##
##
##
||||Freehold|
|---|---|---|---|
||||investment|
||||property|
||||£|
|VALUATION||||
|At
1 October 2023|||484,716|
|At 30 September 2024|||484,716|
|FIXEDASSET INVESTMENTS||||
||||Unlisted|
||||investments|
|GROUP|||£|
|COST ORVALUATION||||
|Additions|||437,500|
|AT 30 SEPTEMBER 2024|||437,500|
|NET BOOKVALUE||||
|AT 30 SEPTEMBER 2024|||437,500|
||Shares in|||
|COMPANY|group
undertakings
£|Unlisted
investments
£|Total
£|
|COST OR VALUATION||||
|At
1 October 2023|2||2|
|Additions||437,500|437,500|
|AT 30 SEPTEMBER 2024|2|437,500|437,502|
|NET BOOKVALUE||||
|AT 30 SEPTEMBER 2024|2|437,500|437,502|
|AT 30 SEPTEMBER 2023|2||2|
##
##
||Group
2024|Group
2023|Company
2024|Company
2023|
|---|---|---|---|---|
||£||£|£|
|DUE WITHIN ONEYEAR|||||
|Trade debtors|998,958|1,152,601|327,811|430,189|
|Amounts owed by group undertakings|||2,033,376|2,068,540|
|Other debtors|1,053,502|907|1,052,557||
|Prepayments and accrued income|623,847|728,801|514,194|602,416|
||2,676,307|1,882,309|3,927,938|3,101,145|
|||Group
2024|Group
2023|Company
2024|Company
2023|
|---|---|---|---|---|---|
|||£|£|£|£|
|Trade creditors||223,549|346,147|110,810|215,961|
|Amounts owed to group undertakings||||297||
|Other taxation and social security||266,898|222,589|266,898|222,589|
|Other creditors||97,961|100,636|97,961|100,636|
|Accruals and deferred income||988,087|1,485,962|896,403|1,290,608|
|||1,576,495|2,155,334|1,372,369|1,829,794|
|||Group
2024|Group
2023|Company
2024|Company
2023|
|||£|£|£|£|
|Deferred income at|1 October 2023|1,315,492|1,849,671|1,183,212|1,701,197|
|Resources deferred|during the year|676,579|1,315,492|636,351|1,183,212|
|Amounts released from previous periods||(1,315,492)|(1,849,671)|(1,183,212)|(1,701,197)|
|||676,579|1,315,492|636,351|1,183,212|
##
##
##
||||||Balance at|
|---|---|---|---|---|---|
||Balance at 1||||30|
||October
2023
£|Income
£|Expenditure
£|Transfers
in/out
£|September
2024
£|
|UNRESTRICTED FUNDS||||||
|DESIGNATED FUNDS||||||
|Future staff liabilities|667,000|||(366,531)|300,469|
|GENERAL FUNDS||||||
|General Funds|9,019,027|12,090,535|(10,271,445)|366,531|11,204,648|
|TOTAL UNRESTRICTED||||||
|FUNDS|9,686,027|12,090,535|(10,271,445)||11,505,117|
|RESTRICTED FUNDS||||||
|Solar Panel Grant||5,165|||5,165|
|TOTAL OF FUNDS|9,686,027|12,095,700|(10,271,445)||11,510,282|
##
##
||||||Balance at|
|---|---|---|---|---|---|
||Balance at||||30|
||1 October|||Transfers|September|
||2022|income|Expenditure|infout|2023|
||£|£|£|£|£|
|UNRESTRICTED FUNDS||||||
|DESIGNATED FUNDS||||||
|Future staff liabilities|617,575|||49,425|667,000|
|GENERAL FUNDS||||||
|General Funds|9,027,426|10,362,406|(10,321,380)|(49,425)|9,019,027|
|TOTAL UNRESTRICTED||||||
|FUNDS|9,645,001|10,362,406|(10,321,380)||9,686,027|
##
##
##
|ANALYSIS OF NETASSETS BETWEEN FU|NDS - CURRENT PERIOD|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2024|2024|2024|
||£|£|£|
|Tangible fixed assets|1,767,051|5,165|1,772,216|
|Intangible fixed assets|158,025||158,025|
|Fixed asset investments|437,500||437,500|
|Investment property|484,716||484,716|
|Current assets|10,234,320||10,234,320|
|Creditors due within one year|(1,576,495)||(1,576,495|
|TOTAL|11,505,117|5,165|11,510,282|
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2023|
|||£|£|£|
||Tangible fixed assets|1,792,666||1,792,666|
||Intangible fixed assets|330,791||330,791|
||Investment property|484,716||484,716|
||Current assets|9,233,188||9,233,188|
||Creditors due within one year|(2,155,334)||(2,155,334)|
||TOTAL|9,686,027||9.686.027|
||RECONCILIATION OF NET MOVEMENT IN FUNDSTO NET CASH FLOW||FROM OPERATING||
|22.|ACTIVITIES||||
||||Group|Group|
||||2024|2023|
||||£|£|
||Net income for the period (as per Statement of Financial Activities)||1,824,255|41,026|
||ADJUSTMENTS FOR:||||
||Depreciation charges||94,529|99,878|
||Amortisation charges||133,697|352,548|
||Dividends, interests and rents from investments||(287,204)|(208,865)|
||Profit from the sale of operations||(2,302,258)||
||Decrease in debtors||118,940|20,226|
||Decrease in creditors||(307,051)|(730,392)|
||NET CASH USED IN OPERATING ACTIVITIES||(725,092)|(425,579)|
|23.|ANALYSIS OF CASH AND CASH EQUIVALENTS||||
||||Group|Group|
||||2024|2023|
||||£|£|
||Cash in hand||7,558,013|7,350,879|
||TOTAL CASH AND CASH EQUIVALENTS||7,558,013|7,350,879|
##
##
|||||||At 1||At 30|
|---|---|---|---|---|---|---|---|---|
|||||||October
2023|Cash flows|September
2024|
||||||||£|£|
|Cash|at|bank|and|in|hand|7,350,879|207,134|7,558,013|
|||||||7,350,879|207,134|7,558,013|
##
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##
##
##
||||Group
2024|Group
2023|Company
2024|Company
2023|
|---|---|---|---|---|---|---|
||||£|£|£|£|
|Not laterthan||1 year|15,562|20,750|15,562|20,750|
|Laterthan|1 year and not laterthan 5 years|||16,562||15,562|
||||15,562|36,312|15,562|36,312|
##
##
|Names|Company
number|Equity
shareholding|Basis ofcontrol||
|---|---|---|---|---|
|||%|||
|SFJ Awards Limited|06926458|100%|Fully owned and|controlled|
|People 1st International Limited|11332207|100%|Fully owned and|controlled|
|The financial results ofthe subsidiaries forthe yearwere:|||||
|Names|Income|Expenditure|Profit/(Loss)|Net|
||£|£|fortheyear
£|assets/(net
liabilities)|
|||||£|
|SFJ Awards Limited|3,206,934|(2,973,761)|233,173|1|
|People 1st International Limited|1,235,824|(1,201,075)|34,749|(1,367,300)|