Left Bank Leeds Charitable Trust
Charity number 1146734
A company limited by guarantee number 06805675
Annual Report and Financial Statements
for the year ended 31 March 2024
These are non-statutory consolidated accounts for the charity and its trading subsidiary Left Bank Leeds CIC. The trustees have chosen to prepare these accounts on a voluntary basis as they are not required by charity law.
Left Bank Leeds Charitable Trust
Annual Report and Financial Statements for the year ended 31 March 2024
| Contents | Page |
|---|---|
| Trustees' report | 2 to 6 |
| Examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the accounts | 10 to 16 |
Prepared by West Yorkshire Community Accounting Service
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Left Bank Leeds Charitable Trust
Trustees' report for the year ended 31 March 2024
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Annabel Hall Nicola Hambridge Michael Love Michael Walker Helen Love Jonathan Dorsett
Jonathan Dorsett Resigned 30 January 2024 Charity number 1146734 Registered in England and Wales Company number 06805675 Registered in England and Wales Registered and principal address Bankers Left Bank Yorkshire Bank Co-operative Bank Plc Cardigan Rd 6 Otley Road PO Box 250 Leeds Leeds Skelmersdale LS6 1LJ LS6 2AA WN8 6WT
Independent examiner
Simon Bostrom FCIE
West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is a company limited by guarantee and was formed on 29 January 2009. It is governed by a memorandum and articles of association as amended by special resolution 23 September 2011, 3 November 2015 and 8 February 2018. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10.
Method of recruitment and appointment of trustees
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
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Left Bank Leeds Charitable Trust
Trustees' report (continued) for the year ended 31 March 2024
Objectives and activities
The charity's objects
(a) to promote for the benefit of the public the preservation, maintenance and improvement of the fabric of the former St. Margaret of Antioch church building, cardigan road, Leeds, its monuments, stained glass and other chattels for the benefit of the local community and to promote therein such purposes as are charitable according to laws of England and wales and which are not inconsistent with the Christian faith. For the
(b) to promote the arts for the public benefit in Leeds and surrounding area by providing arts activities, education and training.
(c) to provide facilities for recreation or other leisure time occupation in the interest of social welfare for persons who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances, with the object of improving the conditions of life for such persons in the said location and in such other parts of the united kingdom or the world as the trustees may from time to time think fit.
(d) to advance education by such means as the trustees may consider appropriate including (though not by way of limitation) by means of establishing, operating, supporting any education establishment or establishments in the said location and in such other parts of the united kingdom or the world as the trustees may from time to time think fit.
(e) to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the united kingdom or the world as the trustees may from time to time think fit.
(f) to advance the Christian faith in accordance with the statement of beliefs appearing in the schedule hereto in Leeds and in such other parts of the united kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and wales and are connected with the charitable work of the trust.
The charity's main activities
The activities include maintaining the building as a multidisciplinary arts and community venue that provides an extensive, accessible programme of events and opportunities for visitors to engage with including: events, exhibitions, discussion groups, creative workshops and regular activities for families and people of all ages such as toddler and older people’s groups. The charity also has a café open every day for the whole community providing daily PAYF meals, space to study, work and meet and a ‘warm’ space in the winter months. The events programme includes regular exhibitions, documentary screenings, book launches and talks, live music sessions, seasonal activities, Healthy Holiday sessions for children, yoga, arts workshops and seasonal events reflecting the Christian Calendar. The venue is also available to hire privately and is a popular location for weddings, christenings, markets, dance and music events.
Public benefit statement
The trustees have considered the Charity Commission’s general guidance on public benefit and believe the charity’s objectives align with this. The Charity is preserving the Grade II* Listed former church building and making it available to the public on a daily basis; providing an accessible programme of arts and activities that enhance well-being and community cohesion; it continues to cultivate relationships with local education establishments and provides learning opportunities for people of all ages; offer a café space for working, studying and social cohesion in the local community every day and to offer free access to arts and community programmes, supporting local artists and creative organisations to develop their practice and marking key events in the Christian calendar.
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Left Bank Leeds Charitable Trust
Trustees' report (continued) for the year ended 31 March 2024
Achievements and performance
In 2023/24 Left Bank has continued to establish itself as a popular place for community, creative activities, gigs, performances and activities as well as a venue for weddings, private and corporate parties. Leeds 2023 Year of Culture brought further arts-funded performances and celebrations to Left Bank enhancing the existing program with creatives from across the UK performing for the first time in front of a Leeds audience.
Headline events for the year have included hosting schools poetry awards, Kings Coronation community party, The Lost Girls . event for women with ADHD, Doc Club screenings and panel discussions with Candour TV, Leeds Poetry Festival, Events and exhibition for Black History Month and book launches and event in partnership with Pluto Press. Community activities, including Family Discos, Big Free Community Discos, Junk Yard Sales, Culture Club, Night Markets and all in-house seasonal activities have provided popular accessible activities for a wide range of community members to enjoy together and support for local artists and makers.
Left Bank provides free access to a daytime café space to the community, established as a valuable place for the local community to meet, work and study as well as a popular place for local organisations to host groups, meetings and client 121s. We are a ‘warm space’ where local people can access a PAYF hot meal, charging facilities and access to sign-posting and free activities. Also widely recognised as a ‘safe space’, Left Bank is a place where everyone feels included and accepted. Many of our groups and activities have developed this year including the community veg growing project, providing space for local people without access to private outdoor space, helping them to grow their own vegetables, this has been supported by funding to purchase materials, deliver workshops and provide training for volunteers. Left Bank’s garden is a ‘pocket park’ and accessed by local residents all year long. We continue to offer weekly activities including OWLs Older Persons Art Group, Life Drawing with Assembly House, Yoga, Seasonal family and children’s activities and workshops in many creative and arts disciplines.
We have a number of volunteers supporting regular groups and events and have provided valuable work experience in partnership with Leeds City College and West Oaks School in the daytime café for 3 young people this year. We work with Sheffield University TAP (Transforming and activating Places) Programme and provided two placements for students to engage in the delivery of the community arts programme, continued to host regular family hip hop sessions and delivered Healthy Holiday sessions for families in receipt of Free School Meals engaging them in fun creative and outdoors activities.
Left Bank continues to hold a key strategic role within the neighbourhood, through a variety of local groups including the Headingley Town Team and the Neighbourhood Forum and importantly working together with and supporting local organisations to thrive.
We have installed a disabled portaloo adjacent to the building as a temporary solution to provide wheelchair accessible toilet facilities ahead of much needed development to our grade II* listed former church building.
This year we have also carried out drainage works paid for via our building’s insurance. We have also invested in an electrical upgrade this year and repaired some damage to internal toilet walls. Lighting has been gradually upgraded to address failing equipment throughout the year. This year we installed two vintage caravans into our garden to create space for quiet reflection or privacy when needed. Significant exhibitions this year have included Dawn Woolly, Joanna Jowett and Leeds Jazz Festival.
Faith-based activities included a visit from Amos Trust in November 2023 raising humanitarian issues in Palestine and Israel. Seasonal activities for families and local people at Easter and Christmas including arts and craft activities, film showings, Santa's grotto and community get-togethers like Breakfast with Santa. We have hosted gospel choirs and popular singalongs Sing for your Supper and Christmas by Candlelight.
We have continued to navigate significant challenges posed by both the energy crisis and the cost-of-living crisis, in September 2023 we recognised a higher demand for Left Bank as a warm and generous space alongside rising costs and the reduction of spending within both our café and events. We have adapted quickly, reviewing costs throughout the organisation, making cuts to both services and staffing to navigate the current climate whilst continuing to support the wider community and provide excellent customer service to all our customers.
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Left Bank Leeds Charitable Trust
Trustees' report (continued) for the year ended 31 March 2024
Achievements and performance continued
Our subsidiary Left Bank CIC has had an increase in total income matched by an increase in expenditure. This year 2023/24 (£635,143 as compared to £613,025). It is reporting a small loss of £1,451 for the year to 31 March 2024, however costs of £5,505 are included, which relate to the previous year. The CIC generated a very small profit, and is continuing to explore ways of growing this.
External bookings including weddings and receptions are a major source of the CIC’s income and bookings are made up to three years in advance, providing surety in income in future years. At the start of each year a % increase is added to hire fees to account for rising costs and overheads. We continue to balance the needs of our community carefully against the need to provide a competitive offer for new and existing commercial customers, ensuring value for money is achieved across all activities.
Financial review
The net expenditure for the year was £16,463.
Reserves policy
The charity has a policy of reserving £10,000. The reserves are held to restructure the delivery of our charitable projects in the event that our subsidiary would be unable to continue facilitating our work.
The group had unrestricted net current liabilities of £22,603.
Going concern
At the time of signing these accounts, the Charity continues to make good progress in terms of recovery after the pandemic and within a current cost-of-living crisis. Aware of CC guidance for charities with relationships with non-charitable entities, trustees are actively monitoring the performance of the charity’s own wholly owned subsidiary and its contract with a third-party supplier of services.
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Left Bank Leeds Charitable Trust
Trustees' report (continued) for the year ended 31 March 2024
Statement of trustees' responsibilities
The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Company law requires the trustees to prepare financial accounts 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 the year. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. 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.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Approved by the board of trustees on 17/12/2024
Annabel Hall (Trustee)
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Left Bank Leeds Charitable Trust
Independent examiner's report to the trustees of Left Bank Leeds Charitable Trust
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2024, which are set out on pages 8 to 16.
Responsibilities and basis of report
As the charity's trustees of the charitable 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 charitable 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 ('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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2 the accounts do not accord with those records; or
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3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
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4 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.
Simon Bostrom FCIE
18/12/2024
West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
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Left Bank Leeds Charitable Trust
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2024
| Notes 2024 Unrestricted funds £ Income from: Grants and donations (2) 5,937 Income from commercial trading operations (3) 583,219 Total income 589,156 Expenditure on: Staffing 208,465 Travel and subsistence 260 Utilities 9,915 Rates 403 Insurance 11,479 Office costs 17,022 Marketing and communications 15,447 Activity costs 199,751 Equipment and materials 1,553 Repairs and maintenance 46,267 Professional fees 53,960 Independent examination 725 Donations - Loan interest 821 Bank charges 832 Grants repayable - Accountancy 21,197 Depreciation 17,835 Total expenditure 605,932 Net income / (expenditure) (16,776) Fund balances brought forward 152,034 Fund balances carried forward (4) 135,258 |
2024 Restricted funds £ 47,069 - 47,069 46,436 - - - - 320 - - - - - - - - - - - - 46,756 313 - 313 |
2024 Total funds £ 53,006 583,219 636,225 254,901 260 9,915 403 11,479 17,342 15,447 199,751 1,553 46,267 53,960 725 - 821 832 - 21,197 17,835 652,688 (16,463) 152,034 135,571 |
2023 Total funds £ 19,644 594,055 613,699 250,766 430 18,619 806 10,308 11,019 14,762 215,249 782 19,576 53,561 1,640 1,504 1,062 2,461 - 16,578 19,232 638,355 (24,656) 176,690 152,034 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Left Bank Leeds Charitable Trust
Balance sheet
| as at 31 March 2024 2024 Unrestricted £ Fixed assets Tangible assets (5) 225,013 Total fixed assets 225,013 Current assets Stock 13,291 Debtors and prepayments (6) 13,112 Cash at bank and in hand (7) 59,824 Total current assets 86,227 Current liabilities: amounts falling due within one year Creditors and accruals (8) 108,830 Total current liabilities 108,830 Net current assets / (liabilities) (22,603) Total assets less current liabilities 202,410 Creditors: amounts falling due after one year (9) 67,152 Net assets 135,258 Funds Unrestricted funds 135,258 Restricted funds - Total funds 135,258 |
2024 Restricted £ - - - - 313 313 - - 313 313 - 313 - 313 313 |
2024 Total £ 225,013 225,013 13,291 13,112 60,137 86,540 108,830 108,830 (22,290) 202,723 67,152 135,571 135,258 313 135,571 |
2023 Total £ 237,347 237,347 3,045 36,821 82,410 122,276 130,483 130,483 (8,207) 229,140 77,106 152,034 152,034 - 152,034 |
|---|---|---|---|
For the year ending 31 March 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2015).
The financial statements were approved by the board of trustees on 17/12/2024
Annabel Hall (Trustee)
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Left Bank Leeds Charitable Trust
Notes to the accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Grants payable with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
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Left Bank Leeds Charitable Trust
Notes to the accounts
for the year ended 31 March 2024
1 Accounting policies continued
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Freehold land: nil Freehold buildings: over 40 years Furniture and equipment: over 5 years
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
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Left Bank Leeds Charitable Trust
Notes to the accounts continued
for the year ended 31 March 2024
| 2 Grants and donations East Riding of Yorkshire Headingley Development Trust Leeds City Council (LCC) Leeds Civic Trust Leeds Community Foundation (LCF) Love Leeds Parks National Lottery Community Fund (NLCF) Sustainability.HEA The National SW University of Sheffield SHED Stewardship Voluntary Action Leeds Donations |
2024 Unrestricted funds £ - - - - - - - - - - - - - 5,937 5,937 |
2024 Restricted funds £ 2,000 630 5,320 620 18,592 1,805 4,953 10,000 2,149 1,000 - - - - 47,069 |
2024 Total funds £ 2,000 630 5,320 620 18,592 1,805 4,953 10,000 2,149 1,000 - - - 5,937 53,006 |
2023 Total funds £ - - 5,000 - 2,144 - - - - - 5,000 4,500 1,500 1,500 19,644 |
|---|---|---|---|---|
3 Income from trading activities
The wholly owned trading subsidiary Left Bank Leeds CIC is incorporated in the United Kingdom (company number 07827235) and pays profits to the charity under the gift aid scheme. Left Bank Leeds CIC operates the wedding facilities, bar, venue and all commercial trading operations carried on at the Left Bank Leeds Charitable Trust premises. A summary of the trading results is shown below.
| The summary financial performance of the subsidiary alone is: Income Charges to parent charity in respect of project delivery Commercial trading activities Grants and donations Total income Less expenditure Net expenditure The assets and liabilities of the subsidiary were: Fixed assets Current assets Current liabilties Long term liabilities Net assets Profit and loss account Share capital Total reserves |
2024 Total funds £ 12,000 583,219 39,924 635,143 (636,594) (1,451) 14,384 137,922 (129,484) (17,152) 5,670 5,645 25 5,670 |
2023 Total funds £ 5,250 594,055 13,720 613,025 (619,707) (6,682) 20,123 162,899 (148,795) (27,106) 7,121 7,096 25 7,121 |
|---|---|---|
Investments in subsidiary undertakings
The charity holds 25 shares of £1 each in its wholly owned trading subsidiary company Left Bank Leeds CIC which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully paid.
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Left Bank Leeds Charitable Trust
Notes to the accounts continued
for the year ended 31 March 2024
| 4 Restricted funds LCF Healthy Holidays LCF Healthy Holidays LCF Warm spaces Headingley Development Trust LCC Leeds Civic Trust SUSTAINABILITY.HEA E. RIDING OF YORKS Love Leeds Parks Love Leeds Parks NLCF Unique Tap Website renewal The National SW LCC LCC |
Balance b/f £ - - - - - - - - - - - - - - - - - |
Incoming £ 10,206 4,449 3,937 630 1,250 620 10,000 2,000 1,492 313 4,953 1,000 320 2,149 2,500 1,250 47,069 |
Outgoing £ 10,206 4,449 3,937 630 1,250 620 10,000 2,000 1,492 - 4,953 1,000 320 2,149 2,500 1,250 46,756 |
Transfers £ - - - - - - - - - - - - - - - - - |
Balance c/f £ - - - - - - - - - 313 - - - - - - 313 |
|---|---|---|---|---|---|
Purpose of restriction
Fund name
LCF Healthy Holidays LCF Healthy Holidays LCF Warm spaces Grant to support core costs over winter Headingley Development Trust Grow your own gardening group activities LCC Arts development fund (core costs) Stewardship Heritage open day event and arts project SUSTAINABILITY.HEA E. RIDING OF YORKS Balance of community garden improvement grant Love Leeds Parks Love Leeds Parks NLCF Unique Tap Student Placement project Website renewal The National SW Grant to support gardening group development LCC Arts development fund (core costs) LCC
Provision of holiday activities and hot meals for children in the school holidays Provision of holiday activities and hot meals for children in the school holidays Grant to support core costs over winter
Heritage open day event and arts project Arts activities and events related to the Radical Reading Room Balance of community garden improvement grant
Community arts and activity grant for activities on a local park Community arts and activity grant for activities on a local park Commnunity activity day for the Kings Coronation celebration Student Placement project
Councillor MICE money to support the neighbourhood forum Grant to support gardening group development Arts development fund (core costs) Arts development fund (core costs)
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Left Bank Leeds Charitable Trust
Notes to the accounts continued
for the year ended 31 March 2024
| 5 6 7 **8 ** |
Tangible assets Cost At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Depn reversed re. disposals Charge for year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Debtors and prepayments Debtors Loan to brewing company Prepayments Cash at bank and in hand Charity: Cash at bank Cash in hand CIC: Cash at bank Cash in hand Creditors and accruals Creditors Accruals Income received in advance Damage bonds Loans VAT payable Tax and NI |
25,475 - - 25,475 - - - - 25,475 25,475 Land |
£ 64,731 5,501 - 70,232 43,374 - 11,857 55,231 15,001 21,357 Furniture and equipment |
£ 239,078 - - 239,078 48,563 - 5,978 54,541 184,537 190,515 2024 £ 5,483 - 7,629 13,112 2024 £ 2,075 - 57,112 950 60,137 2024 £ 12,405 4,691 53,908 3,200 10,291 21,982 2,353 108,830 Buildings |
Total £ 329,284 5,501 - 334,785 91,937 - 17,835 109,772 225,013 237,347 2023 £ 17,626 6,739 12,456 36,821 2023 £ 3,200 - 78,260 950 82,410 2023 £ 19,769 1,785 72,437 5,000 10,165 18,650 2,677 130,483 |
|---|---|---|---|---|---|
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Left Bank Leeds Charitable Trust
Notes to the accounts continued
for the year ended 31 March 2024
| Creditors: amounts falling due after one year Loans and overdrafts |
2024 £ 67,152 67,152 |
2023 £ 77,106 77,106 |
|---|---|---|
9 Creditors: amounts falling due after one year
10 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefits during this year or the previous year.
Loan to the charity from trustee
At 31 March 2023 the charity owed Helen Love (trustee) a sum of £50,000. This was in respect of a loan made by Helen to the charity at no interest.
No repayment date has been fixed on the loan. The trustees and Helen will monitor the finances of the charity and look at repayment options on an ongoing basis.
It is for this reason that the loan has been valued at cost as opposed to being adjusted for a market rate of interest.
Transactions involving Left Bank CIC
During the accounting period the following transactions took place between the charity and its wholly owned subsidiary Left Bank Leeds CIC:
The subsidiary company provided services to the charity during the year totalling £12,000 (2023: £5,250) and incurred premises overhead recharges of £14,375 (2023: £24,745).
Balances outstanding owed to the CIC were £13,260 (2023:£9,164).
There were no other related party transactions during this year or the previous year.
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Left Bank Leeds Charitable Trust
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2024
| 2024 2023 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 5,937 1,500 Income from commercial trading 583,219 594,055 Total income 589,156 595,555 Expenditure Staffing 208,465 232,622 Travel and subsistence 260 430 Utilities 9,915 18,619 Rates 403 806 Insurance 11,479 10,308 Office costs 17,022 11,019 Marketing and communications 15,447 14,762 Activity costs 199,751 215,249 Equipment and materials 1,553 782 Repairs and maintenance 46,267 19,576 Professional fees 53,960 53,561 Independent examination 725 1,640 Donations - 1,504 Loan interest 821 1,062 Bank charges 832 2,461 Grants repayable - - Accountancy 21,197 16,578 Depreciation 17,835 19,232 Total expenditure 605,932 620,211 Net income / (expenditure) (16,776) (24,656) Transfers between funds - - Net movement in funds (16,776) (24,656) Fund balances brought forward 152,034 176,690 Fund balances carried forward 135,258 152,034 |
2024 Restricted funds £ 47,069 - 47,069 46,436 - - - - 320 - - - - - - - - - - - - 46,756 313 - 313 - 313 |
2023 Restricted funds £ 18,144 - 18,144 18,144 - - - - - - - - - - - - - - - - - 18,144 - - - - - |
2024 Total funds £ 53,006 583,219 636,225 254,901 260 9,915 403 11,479 17,342 15,447 199,751 1,553 46,267 53,960 725 - 821 832 - 21,197 17,835 652,688 (16,463) - (16,463) 152,034 135,571 |
2023 Total funds £ 19,644 594,055 613,699 250,766 430 18,619 806 10,308 11,019 14,762 215,249 782 19,576 53,561 1,640 1,504 1,062 2,461 - 16,578 19,232 638,355 (24,656) - (24,656) 176,690 152,034 |
|---|---|---|---|---|
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