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← Surrey Independent Living Charity

2024-03-31-accounts

Charity registration number 1146482

SURREY INDEPENDENT LIVING CHARITY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

SURREY INDEPENDENT LIVING CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms M Krasovec Mr M Morwood Ms M Adaway - Treasurer Ms C Lawrence Ms F Bailey - Chair Ms L Riddett Ms H Ridzuan-Allen Charity number 1146482 Principal address Astolat Coniers Way Burpham Guildford Surrey GU4 7HL Independent examiner Kirk Rice LLP Victoria House 178-180 Fleet Road Fleet Hampshire GU51 4DA

(Appointed 22 November 2023) (Appointed 10 January 2024)

SURREY INDEPENDENT LIVING CHARITY

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 17

SURREY INDEPENDENT LIVING CHARITY

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011 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)" (effective 1 January 2019).

Objectives and activities

SILC's objective is to promote independent living and equal opportunities for Disabled People, with a particular focus on Direct Payments and Personal Budgets. Our work assists recipients to be in control of their life and enable them to live as full a life as possible by providing expertise, information, guidance, and support.

During the year SILC continued its core operations as follows:

These activities notwithstanding the trustees acknowledge that the income generated will not be sufficient to ensure SILC’s long-term future. In order, to ensure the long-term viability of the charity, the trustees have identified that opportunities exist to develop new income streams. With the healthy reserves held by the charity, the trustees have determined that they should utilise some of these reserves to develop these new income streams. They will monitor progress on this project to ensure that more than adequate reserves are retained.

The main objectives and activities identified for the year were:

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

SURREY INDEPENDENT LIVING CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

The organisation can report the following:

The organisation's performance and efficiency have been closely monitored and procedures put in place to ensure SILC provides an effective, efficient, and quality service. SILC works closely with Surrey County Council and partners and aims to be at the forefront of all new initiatives.

In the long term, SILC aims to have a diverse funding base with a range of services and projects that support Disabled People to live independently and to make choices about their lives.

Financial review

SILC was able to achieve a surplus of £523 from income of £637,950. The trustees were satisfied with this result, which was ahead of their initial expectations for the year under the restructuring strategy.

Going concern

In the medium term, SILC's funds are sufficient to sustain the organisation. In the longer term, SILC would not be able to continue its operations at present levels or expand without replacement funding from another source. However, SILC continues to review it services in order to reduce cost and increase income and our strategy to ensure a balanced annual budget by the end of 2025/26 remains on target.

Reserves policy

Funds not immediately required by the charity for its day-to-day expenses are transferred to an investment 'unreserved' account in order to earn a higher level of interest. The trustees consider that reserves should be maintained in order to:

At the period end date, the funds balances were: Unrestricted General Fund: £434,984. Restricted Fund: £79,830.

Principal funding sources

SILC's main source of funding during the year was from the Direct Payment support contract with Surrey County Council which incorporated the administration of one-off Carer's One-Off Early Intervention Payments and Carers GP Personal Health Budgets; SILC's Financial Monitoring Service; the administration of Assisted Financial Accounts; the delivery of training; Personal Health Budgets and Management Fees from the Surrey Healthwatch NHS Health Complaints Advocacy project and Healthwatch administration fees.

Investment powers

The Constitution authorises the trustees to make and hold investments using the general funds of SILC, which for this financial year were held in a 7iM Investment portfolio.

SURREY INDEPENDENT LIVING CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

Structure, governance and management

The charity is controlled by its governing document, which is its Constitution, and constitutes a Charitable Incorporated Organisation, as defined by the Charities Act 2011.

The trustees who served during the year and up to the date of signature of the financial statements were: Ms M Krasovec Mr M Morwood Ms M Adaway - Treasurer Ms C Lawrence Ms F Bailey - Chair Mr N Ayios (Resigned 24 August 2023) Ms L Riddett (Appointed 22 November 2023) Ms H Ridzuan-Allen (Appointed 10 January 2024)

Appointment of trustees is governed by the Constitution of Surrey Independent Living Council (SILC). The Executive Committee (board of trustees) is authorised to appoint new trustees, to fill vacancies arising through resignation or death of an existing trustee.

The day-to-day responsibility for management is delegated to Richard Davy, the Chief Executive Officer; Jill Coles, deputy Chief Executive Officer; Joan Cumber, Finance Manager and Rebecca Griffin, Operations Manager

Organisational structure

SILC is a registered charity that is led by a Trustee Board with their own disability and/or direct experience of supporting a disabled person. In December 2011 SILC became a Company Limited by guarantee retaining its charitable status. The organisation's name was changed in 2022 to the Surrey Independent Living Charity and became a Charitable Incorporated Organisation. New recruits to the committee are encouraged to join subcommittees and training is provided on employment, finance and trustee responsibilities as required.

Funds held as custodian trustee

The charity holds money off the balance sheet, on behalf of carers and young carers. The balance as of 31st March 2024 was £183,730. These funds are held in separate designated bank accounts.

SURREY INDEPENDENT LIVING CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Statement of trustees' responsibilities

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).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Commencement of activities

The charitable company was incorporated on 9 December 2011. The charity commenced its activities when it took over the unincorporated charity Surrey Independent Living Council (charity number: 1088220) on 1 July 2012. The company was dormant until this date. The charity then became a Charitable Incorporated Organisation in 2022.

Public benefit requirement

The trustees have discussed the issue of public benefit and are confident that the breadth and scope of the work the Charity undertakes, as disclosed in this report, complies with Section 17 of the Charities Act 2011, and has due regard to the Charity Commission's general guidance on public benefit. Funding from our contracts has enabled the organisation to provide a Direct Payments support service to over 4,500 users during the last year, to give presentations and training sessions promoting independent living and to deal with thousands of enquiries relating to the use of Direct Payments, Personal Budgets, Self-Directed Support and Pensions.

The trustees' report was approved by the Board of Trustees.

..............................

Ms M Adaway - Treasurer

Trustee

19/11/2024 Date: .............................................

SURREY INDEPENDENT LIVING CHARITY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SURREY INDEPENDENT LIVING CHARITY

I report to the trustees on my examination of the financial statements of Surrey Independent Living Charity (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’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 Fellow Chartered Accountant (FCA), as issued by the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Kirk Rice LLP

Timothy David Neale FCA

Victoria House 178-180 Fleet Road Fleet Hampshire GU51 4DA

19/11/2024 Dated: .........................

SURREY INDEPENDENT LIVING CHARITY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted Restricted Restricted Total Unrestricted Unrestricted Restricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 24,645 - 24,645 28,248 - 28,248
Charitable activities 4 583,305 30,000 613,305 521,135 55,174 576,309
Investments 5 4,212 - 4,212 4,158 - 4,158
Total income 612,162 30,000 642,162 553,541 55,174 608,715
Expenditure on:
Charitable activities 6 619,496 32,869 652,365 610,406 45,012 655,418
Total expenditure 619,496 32,869 652,365 610,406 45,012 655,418
Net gains/(losses) on
investments 12 10,726 - 10,726 (20,623) - (20,623)
Net income/(expenditure) and
movement in funds 3,392 (2,869) 523 (77,488) 10,162 (67,326)
Reconciliation of funds:
Fund balances at 1 April 2023 431,592 82,699 514,291 509,080 72,537 581,617
Fund balances at 31 March
2024 434,984 79,830 514,814 431,592 82,699 514,291

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

SURREY INDEPENDENT LIVING CHARITY

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 14 6,890 10,618
Current assets
Debtors 15 54,802 52,864
Investments 16 284,065 269,127
Cash at bank and in hand 219,355 230,333
558,222 552,324
Creditors: amounts falling due within 17
one year (50,298) (48,651)
Net current assets 507,924 503,673
Total assets less current liabilities 514,814 514,291
Net assets excluding pension liability 514,814 514,291
The funds of the charity
Restricted income funds 20 79,830 82,699
Unrestricted funds 434,984 431,592
514,814 514,291

19/11/2024 The financial statements were approved by the trustees on .........................

.............................. Z4h-> Ms M Adaway - Treasurer

Trustee

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Surrey Independent Living Charity is a Charitable Incorporated Organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Articles of Association, the Charities Act 2011 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is the amount derived from activities, and stated after trade discounts, other sales taxes and net of VAT.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commiting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Overhead and support costs have been allocated between charitable activity and governance based on the specific costs and time spent on charitable activities.

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Those valued at £300 or less are expensed through the Statement of Financial Activities.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 24,645 28,049
Government Grant Income - 199
24,645 28,248

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

Charitable activities
Charitable
Healthwatch		 Total Charitable
Healthwatch		 Supported Total
activities 2024 activities Pathways to 2023
Employment
2024 2024 2023 2023 2023
£ £ £ £ £ £ £
Advisory service income 430,897 - 430,897 378,310 - - 378,310
Project funds 30,000 152,408 182,408 55,174 137,503 5,322 197,999
460,897 152,408 613,305 433,484 137,503 5,322 576,309
Analysis by fund
Unrestricted funds 430,897 152,408 583,305 378,310 137,503 5,322 521,135
Restricted funds 30,000 - 30,000 55,174 - - 55,174
460,897 152,408 613,305 433,484 137,503 5,322 576,309

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

5 Income from investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 4,212 4,158
Expenditure on charitable activities
Charitable
Charitable
activities activities
2024 2023
£ £
Direct costs
Staff costs 313,106 278,267
Travelling costs 186 804
313,292 279,071
Share of support and governance costs (see note 7)
Support 329,818 357,346
Governance 9,255 19,001
652,365 655,418
Analysis by fund
Unrestricted funds 619,496 610,406
Restricted funds 32,869 45,012
652,365 655,418

6 Expenditure on charitable activities

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Support costs allocated to activities

7 Support costs allocated to activities
2024 2023
£ £
Staff costs 185,165 171,358
Depreciation 3,728 4,929
Computer costs 23,713 22,457
Staff training and recruitment 35,030 50,806
Insurance 3,809 4,112
Telephone 7,100 7,256
Postage and stationery 5,542 7,314
Sundries 32,584 65,445
Repairs and maintenance 3,707 3,674
Service charge 29,440 19,995
Governance costs 9,255 19,001
339,073 376,347
Analysed between:
Charitable activities 339,073 376,347
8 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 3,728 4,929

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during year, but all of them were reimbursed a total of £829 travelling expenses (2023: all were reimbursed £910).

All trustees are consequently required by the charity to comply with its Conflicts of Interest policy. This states that they may be required to leave a meeting where it is considered that their presence may unduly influence their own benefit.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
Advisory 10 10
Advisory Support 2 2
Total 12 12

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Employees (Continued) (Continued)
Employment costs 2024 2023
£ £
Wages and salaries 437,459 392,393
Social security costs 42,328 38,876
Other pension costs 18,484 18,356
498,271 449,625
The number of employees whose annual remuneration was more than £60,000
is as follows:
2024 2023
Number Number
£60,001 - £70,000 1 -
£70,001 - £80,000 - 1
£90,001 - £100,000 1 -

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

Remuneration for key management personnel for the year ended 31 March 2024 was £157,199 (2023: £140,695).

11 Independent examiner's remuneration

During the year to 31 March 2024, independent examiners' remuneration came to £4,450 (2023: £4,055).

12 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Sale of investments 10,726 (20,623)

13 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 April 2023 128,802
At 31 March 2024 128,802
Depreciation and impairment
At 1 April 2023 118,184
Depreciation charged in the year 3,728
At 31 March 2024 121,912
Carrying amount
At 31 March 2024 6,890
At 31 March 2023 10,618
15 Debtors
2024 2023
Amounts falling due within one year: £ £
Trade debtors 53,467 51,469
Other debtors 236 296
Prepayments and accrued income 1,099 1,099
54,802 52,864
16 Current asset investments
2024 2023
£ £
Current investment 284,065 269,127

All investments held in the UK.

The current asset investment is cash held as part of the investment portfolio. The instrument is measured at fair value through profit or loss.

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Creditors: amounts falling due within one year

17 Creditors: amounts falling due within one year
2024 2023
Notes £ £
Other taxation and social security 22,089 20,827
Government grants - 10,419
Trade creditors 1,393 2,646
Other creditors 9,547 8,309
Accruals and deferred income 17,269 6,450
50,298 48,651
18 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 18,484 18,356

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April
Incoming
Incoming
Resources
Resources
Gains and
Gains and
At 31 March
At 31 March
2023 resources expended losses 2024
£ £ £ £ £
General funds 431,592 612,162 (619,496) 10,726 434,984
Previous year: At 1 April
Incoming
Resources
Gains and
At 31 March
2022 resources expended losses 2023
£ £ £ £ £
General funds 509,080 553,541 (610,406) (20,623) 431,592

SURREY INDEPENDENT LIVING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 April 2022 resources expended 1 April 2023 resources expended 31 March 2024
£ £ £ £ £ £ £
Skills for Care 72,700 18,050 (18,213) 82,699 30,000 (32,869) 79,830

21 Analysis of net assets between funds

Unrestricted Unrestricted Restricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 6,890 - 6,890
Current assets/(liabilities) 428,094 79,830 507,924
434,984 79,830 514,814
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 10,618 - 10,618
Current assets/(liabilities) 420,974 82,699 503,673
431,592 82,699 514,291

22 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

23 Ultimate controlling party

The charity is controlled by the trustees.

24 Bank

The charity holds money off the balance sheet, on behalf of carers and young carers. The balance as at 31 March 2024 was £183,730 (2023: £188,226). These funds are held in a separate designated bank account.