2024-03-31-accounts - Re:source Blackburn

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Registered Charity Number 1151318

RE:SOURCE BLACKBURN

(A Charitable Incorporated Organisation)

ACCOUNTS AND TRUSTEES' REPORT FOR THE YEAR ENDED 31st March 2024

t 07377 63033

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e info@exchangeblackburn.org.uk

w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

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RE:SOURCE BLACKBURN

Index for the year ended 31st March 2024

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|||| |---|---|---| |Page| |Reference and administrative information|2| |Trustees' report|3-5| |Independent examiner's|report|6| |Statement of financial|activities|7| |Balance sheet|8| |Notes to the financial statements|9-14|

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t 07377 63033

e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

ResSource©

RE:SOURCE BLACKBURN

Reference and administrative information for the year ended 31st March 2024

eS

Trustees:	DrAMurdoch
	Mrs J Murdoch
	Mrs J Mitchell
	MrJ. McGregor		,
	MsN Mughal	Resigned 15.01.2024
	MrD S Bamber
DirectorofOperations	MrsCButler	Resigned 30.09.2024
Charitynumber:	1151318
Operational address:	TheExchange
	71-73 King WilliamStreet
	Blackburn
	BB1 7DT
Registered office:	TheExchange
	71-73 King William Street
	Blackburn
	BB1 7DT
Bankers:	TheCooperative Bankplc
	PO Box 101
	1 Balloon Street
	Manchester
	M604EP
Independent Examiner:	JA Fell & Company
	Chartered Accountants
	40 Hoghton Street
	Southport
	PROOPQ
Solicitors:	Mounteney Solicitors Limited
	22 The Bramhall Centre
	Bramhall
	Stockport
	Cheshire
	SK71AW

t 07377 63033 e Info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

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ResSource©

RE:SOURCE BLACKBURN

Trustee's annual report for the year ended 31st March 2024

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Structure, governance and management

The charity is a charitable incorporated organisation (CIO) and governed by its constitution 21st March 2013. This constitution established the objects and powers of the charity, without voting members other than its trustees. In the event of the charity being wound up, the trustees are not required to contribute to its assets and have no personal responsibility for settling its debts and liabilities.

Recruitment and appointmentof trustees

Under the constitution, apart from the first charity trustees, every trustee must be appointed for a term of four years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the ClO. Business, leadership, teaching, medical, dental, entrepreneurial and church leadership skills are well represented in the current trustees.

Trustee induction and training

The charity trustees make available to each new charity trustee, on or before his or her first appointment a copy of the constitution and any amendments made to it and a copy of the CIO's latest Trustees' Annual Report and statement of accounts. This is added to by intensive face-to-face meetings.

Organisational structure

There are six trustees from varying professional backgrounds who meet at least quarterly. They are responsible for the strategic direction and policy of the charity. They take on varying responsibilities for the charity depending on their professional background and skills.

Objectives and activities

The primary objectives of the charity are:

A. to further or benefit the residents of Blackburn with Darwen and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. In the particular furtherance of the object outlined in this clause the trustees shall have power (but not the obligation) to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority In the maintenance and management of such a centre for activities promoted by the charity in furtherance of the object outlined in this clause;
B. to relieve sickness and preserve health among people residing permanently or temporarily in Blackburn with Darwen;
G to advance the Christian religion for the benefit of the public in accordance with the doctrine outlined in the apostle's creed.

t 07377 63033

e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

Re:Source©

RE:-SOURCE BLACKBURN

Trustee's annual report for the year ended 31st March 2024 (continued) iS .. el Achievements and Performance The charity purchased the former Cotton Exchange on 4th September 2015, rescued it from continued dereliction by repairs to roofs and windows and temporarily refurbished the lower ground floor to make it usable. This was achieved by 1st May 2016. The upper floor has been able to host 600 people since April 2017.

Re:lgnite Church continues to be based at The Exchange, Blackburn, meeting there on Sunday mornings and their lease of the lower floor of the Exchange restarted in June 2021. RIBA 2A+ planning permission was granted for our plans early in the spring and enabled the Trustee Team to progress discussions with the Architects at Buttress. We planned a full year of events for 2023/2024 to test several uses for the building. In anticipation of this we recruited a Business Apprentice, Julian Jazerbinski in April 2023. We also moved Lisa Clarke into the role of Heritage and volunteer coordinator in May of 2023 and installed Tracey Tyler as MeeMaws Community Coordinator in June 2023. These staffing decisions together with Caer Butler, Director of Operations puts in place the team we need to manage the delivery of the various events.

The team successfully hosted and delivered activities with Festival of Making in July, The Confessional Music Event in September, British Textile Biennial in October and the Christmas Tree Festival across November and December 2023. We hosted the Music Event, ‘High on hope’ on New Years Eve and concluded our year of events with Step into spring in March 2024. There were a number of additional small-scale events and hosting opportunities throughout the year and full evaluation and lessons learned were collected during this period to assist the team in shaping the eventual uses of the Exchange Building.

We are grateful to NLHF in providing financial support to fund the additional staffing and to enable us to undertake a number of capital works. A platform lift was installed allowing greater access to the upper floor for users and wheelchair access to the lower ground floor was made possible. The upper floor toilets were updated, we added some additional office space for the staff team and installed handrails to the side entrance steps to improve safety.

In January 2024 one of our Trustees, Nudrat Mughal chose to resign due to the increased pressures of managing her portfolio of charitable interests. The Trustee Board accepted her resignation on 15th January 2024.

How our activities deliver public benefit

The trustees confirm that they have had regard to the Charity Commission's guidance on public benefit when setting the objectives and assessing their activities. The public benefit for the transformation of the Cotton Exchange will be very significant indeed. This could revolutionise attitudes both to Blackburn and in Blackburn and will be useable by all sections of society without any exclusions.

Financial review

The results for the year and the state of the charity's affairs as at 31 March 2024 are set out in the financial statements following. During the year the charity received income of £ 254,989 (2023 £128,611) and had outgoings of £206,687 (2023 £134,289), leaving a net surplus of £48,302 (2023 - Deficit £5,678).

Reserves policy

The trustees have assessed the charity's reserves requirements and have agreed that free reserves equal to 3 months' operational expenditure should be maintained which amounts to around £15,000.

Payment to Trustees

Our constitution states at paragraph 6:

(1) “ Benefits and payments to charity trustees and connected persons", that no charity trustee or connected person may sell services, unless the payment is permitted by sub clause 2 of this clause, which states that:

(a) A charity trustee may receive a benefit from the CIO as a beneficiary of the ClO provided that a majority of charity trustees do not benefit in this way.

(b) A charity trustee or connected person may enter into a contract for the supply of services to the ClO where that is permitted in accordance with, and subject to the conditions in, section 73A to 73C of the Charities Act 1993.

No trustees received any benefit from Re:Source Blackburn CIO.

t 07377 63033

e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

ABM SILL —ll””~—OC

Re:Source©

RE:SOURCE BLACKBURN

Trustee's annual report for the year ended 31st March 2024 (continued)

Statement of trustees responsibilities

Law applicable to charities in England and Wales require the trustees to prepare the financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

a. select suitable accounting policies and apply them consistently;
b. make judgements and estimates that are reasonable and prudent; CG state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
d. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping accounting records which 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. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ThisApproval report was approved by the trustees on LQ.‘ Li bs Awe signed on their behalf by:

John James McGregor - Chair

t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

EEO

RE:SOURCE BLACKBURN

Independent examiner's report to the trustees of Re:Source Blackburn

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in to the trustees on my examination of the financial statements of Re:Source Blackburn for the year ended 31st March

Responsibilities and basis of report ae Trustees are responsible for the preparation of the financial statements. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011( the 2011 Act ) and that an independent examination is needed. It is my responsibility to: (i) examine the financial statements under section 145 of the 2011 Act; (il) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and (iii) to state whether particular matters have come to my attention. Basis of independent examiner's Statement My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financlal statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement. Independent examiner's statement In connection with my examination, no matter has come to my attention: (a) which gives me reasonable cause to believe that in any material respect the requirements: (i) to keep accounting records in accordance with section 130 of the 2011 Act; and (il) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act; have not been met or (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Oliver J GrillsLt Date: 4 | u | u u |W224W224 for and on behalf of J A Fell and Company, Chartered Accountants

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Date: 4 | u | u u |W224W224
40 Hoghton Street,
Southport,
PRO OPQ
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t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

Re:Source©

RE:SOURCE BLACKBURN

Statement of Financial Activities for the year ended 31st March 2024

a —— ___ Eee

		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
	Note	2024 £	2024 £	2024 £	2023 £
INCOMING RESOURCES
Donationsandgrants Othertradingactivities	2 3	23,207 22,513	209,269 -	232,476 22,513	117,608 11,003
TOTALINCOMINGRESOURCES		45,720	209,269	254,989	128,611
RESOURCES EXPENDED
Charitable activities	5	38,948	167,739	206,687	134,289
TOTALRESOURCESEXPENDED		38,948	167,739	206,687	134,289
NETINCOMEBEFORE TRANSFERS		6,772	41,530	48,302	(5,678)
Transfers		17,218	(17,218)
Totalfunds broughtforward	13	780,835	15,509	796,344	802,022
Totalfunds carriedforward	13	aX ——————— 804,825 39,821 844,646 ESSE			———— 796,344 ———S—=

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.

The notes on pages 9 to 14 form part of these financial statements.

t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

Re¢Source©

RE:SOURCE BLACKBURN

Balance Sheet

as at 31st March 2024

el

		2024	2023
	Note	£	£
FIXEDASSETS:
Tangibleassets	6	830,256	792,145
CURRENTASSETS:
Debtors	7	1,644	4,452
Cash atbank and in hand		16,656	7,660
		18,300	12,112
CURRENTLIABILITIES:
Creditorsduein lessthan oneyear	8	(3,910)	(7,913)
TOTALASSETS		844,646 Sas	796,344 —s
THEFUNDSOF THE CHARITY:
Unrestrictedfunds	11	804,825	780,835
Restrictedfunds	12	39,821	15,509
		844,646 ————————	796,344 a

The financial statements were approved and authorised for issue bythe trustees on 264 2 signed on their behalf by:

John James McGregor - Chair

The notes on pages 9 to 14 form part of these financial statements.

t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

ResSource©

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RE:SOURCE BLACKBURN

Notes to the Financial Statements

for the year ended 31st March 2024

eS 1 Accounting policies Charity information

Re:Source Blackburn is a Charitable Incorporated Organisation registered with the Charity Commission

1.1 Basis of Preparation The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice (SORP FRS102) issued in October 2019 , the Financial Reporting Standard applicable to the United Kingdom and the Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity is a public benefit entity as defined by FRS102.

The financial statements are prepared in sterling, which is the functional currency of the charity.

1.2 Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds would comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund will be set out In the notes to the financial statements where applicable. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund will be set out in the notes to the financial statements where applicable.

1.3. Income and Gift Aid

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement Is the earlier of the charity being notified of an impending distribution or the legacy being received. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify a performance condition it Is recognised in income when the proceeds are received or receivable. 1.4 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Premises and other overheads have been allocated according to the level of activity undertaken throughout the year. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

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RE:SOURCE BLACKBURN

Notes to the Financial Statements for the year ended 31st March 2024 (Continued)

6 sce 1 Accounting policies (Continued) 15 Taxation

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The charity has operated in accordance with its charitable objects and is therefore exempt from taxation.

1.6 Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue, therefore the financial statements have been prepared on the going concern basis.

1.7 Tangible fixed assets

Individual assets acquired at a cost of more than £500 which are intended for use on a continuing basis in the charity's activities have been capitalised. Depreciation Is provided using the following rates to reduce, by annual instalments, the Cost, less estimated residual value, of the tangible assets over their estimated useful lives:

Land and buildings

Fixtures and equipment

0% per annum on cost

20% per annum on the net book value

18 Retirement benefits

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

19 Related parties

There were no related party transactions during the year

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2 Income from donations and grants
Current year Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
£ £ £ £
Donations 22,207 - 22,207 14,578
Grants received 1,000 209,269 210,269 103,030
23,207 209,269 232,476 117,608
Prior year Unrestricted Restricted Total
Funds Funds Funds
2023 2023 2023
£ £ £
Donations 14,578 - 14,578
Grants received =103,030103,030_
14,578 103,030 117,608
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t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

ResSource

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RE:SOURCE BLACKBURN

Notes to the Financial Statements

for the year ended 31st March 2024 (Continued)

Notes to theto thethe Financial Statements for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	Notes to theto thethe Financial Statements for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	Notes to theto thethe Financial Statements for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	Notes to theto thethe Financial Statements for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	Notes to theto thethe Financial Statements for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	Notes to theto thethe Financial Statements for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)
a
3 Othertrading activities
	Currentyear	Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		2024	2024	2024	2023
		£	£	£	£
	Rents received	22,064	-	22,064	11,003
	Cafésales	449	=	449	=
		22,513	-	22,064	11,003
	Prioryear	Unrestricted	Restricted	Total
		Funds 2023	Funds 2023	Funds 2023
		£	£	£
	Rents received	11,003	-	11,003
5	Cost ofcharitable activities
	Currentyear	Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		2024	2024	2024	2023
		£	£	£	£
	Wagesandsalaries	-	67,363	67,363	38,097
	Rent and insurance	9,347	-	9,347	17,799
	Repairs and equipment	-	18,929	18,929	12,243
	Consumables	928	-	928	212
	Administration andsubscriptions	565	1,071	1,636	1,158
	Lightand heat	15,382	-	15,382	5,756
	Rates and water	3,347	-	3,347	1,863
	Website costs and marketing	-	3,430	3,430	900
	Bank charges	5	-	5	10
	Telephone and internet	992	-	992	690
	Consultancy and legalfees	-	67,269	67,269	49,699
	Travel	150	1,815	1,965	253
	Event costs	349	3,519	3,868	905
	Training costs	-	2,915	2,915	118
	Sundrycosts	1,000	1,428	2,428	1,159
	Accountancy& independent examination	950	-	950	950
	Donations	1,420	-	1,420	-
	Depreciation	4,513	-	4,513	2,477
		38,948	167,739	206,687	134,289

t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

Re:Source

RE:SOURCE BLACKBURN

Notes to the Financial Statements

for the year ended 31st March 2024 (Continued)

mS

	Costofcharitable activities
	Prioryear	Unrestricted	Restricted	Total
		Funds	Funds	Funds
		2023	2023	2023
		£	£	£
	Wagesandsalaries	320	37,777	38,097
	Rent andInsurance	17,799	-	17,799
	Repairsand equipment	4,522	7,721	12,243
	Consumables	212	-	212
	Administration andsubscriptions	1,158	-	1,158
	Lightandheat	3,804	1,952	5,756
	Ratesandwater	1,733	130	1,863
	Websitecostsand marketing	-	900	900
	Bankcharges	10	-	10
	Telephone and internet	690	-	690
	Consultancy and legal fees	-	49,699	49,699
	Travel	253	-	253
	Event costs	905	-	905
	Training costs	118	-	118
	Sundry costs	1,159	-	1,159
	Accountancy & independentexamination	950	-	950
	Depreciation	2,477	-	2,477
6	Tangible fixed assets
		Landand	Fixturesand
		Buildings	Equipment		Total
		£	£		£
	Cost
	At31st March 2023	782,236	15,714		797,950
	Additions	35,773	6,851		42,624
	At31st March 2024	818,009	22,565		840,574
	Depreciation
	At31st March 2023	-	5,805		5,805
	Chargefortheyear	-	4,513		4,513
	At 31st March 2024	-	10,318		10,318
	Netbookvalue
	At31stMarch 2024	818,009	12,247		830,256
	At31st March 2023	782,236	9,909		792,145
7	Debtors
				2024	2023
				£	£
	Other debtors			=	x
	VAT			1,644	4,452
				1,644	4,452

e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

t 07377 63033

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“os Ses"*

Notes to the Financial Statements

RezSource

RE-SOURCE BLACKBURN

for the year ended 31st March 2024 (Continued)

for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)	for the year endedthe year endedyear endedended 31st March 2024 (Continued)March 2024 (Continued)2024 (Continued)(Continued)
eee						ee
8	Creditorsduein lessthanoneyear					2024	2023
						£	£
						=	>
	VAT PAYE					2,478	1,597
	Other creditors Re:Igniteloan Accruals					532 _soaint A900). 3,910	416 5,000 900 7,913
9	Employeesandtrustees Thecharityemployed3part-timeadministrationstaffmembersand			other	workers	irregularlyduringtheyear.No
	employeeearnedover£60,000intheyearandnotrusteereceivedanyremuneration.					2024	2023
						£	£
	Employment costs Wagesandsalaries					66,198 =	37,227 r
	Social security costs Otherpensioncosts					___1,165_ 67,363	870 38,097
10	Related PartyTransactions
	Therewereno related partytransactionsduringtheyearthat requiredisclosure.
11	Statement of funds	Balance at1April	Movementinyear				Balance at31March
		2023	Income	Expenditure		Transfers	2024
		£	£		£	£	£
	Unrestrictedfunds	780,835	45,720		(38,948)	17,218	804,825
	Restrictedfunds	15,509	209,269	(167,739)		(17,218)	39,821
	Totalfunds	796,344	254,989	(206,687)		-	844,646
12	Restrictedfunds	Balance					Balance
		at1April	Movementinyear				at31March
		2023	Income	Expenditure		Transfers	2024
		£	£		£	£	£
	Blackburn with Darwen	1,880	10,000		11,880		-
	Architectural HeritageFund	-	43,560		43,560	-	-
	National LotteryHeritageFund	-	134,909		77,870	(17,218)	39,821
	AlbertGubayFoundation	-	20,800		20,800	-	-
	TheArcherTrust	2,119			2,119	-	-
	Duchyof Lancaster	5,000			5,000	-	.
	TheLaing FamilyTrust	2,000			2,000	-	-
	GarfieldWeston Foundation	2,010			2,010	-	<
	Carmela	2,500 15,509	209,269		2,500 167,739	- (17,218)	- 39,821

The transfer from restricted funds to unrestricted funds represents expenditure on fixed assets from restricted funds, which are now held for the general purposes of the trust.

t 07377 63033 e info@exchangeblackburn.org.uk w www.exchangeblackburn.org.uk Registered address: The Exchange, 71-73 King William Street, Blackburn, BB1 7DT

RE:SOURCE BLACKBURN

Notes to the Financial Statements

for the year ended 31st March 2024 (Continued)

Notes to theto thethe Financial StatementsStatements for the year endedthe year endedyear endedended 31st MarchMarch 2024 (Continued)(Continued)	Notes to theto thethe Financial StatementsStatements for the year endedthe year endedyear endedended 31st MarchMarch 2024 (Continued)(Continued)	Notes to theto thethe Financial StatementsStatements for the year endedthe year endedyear endedended 31st MarchMarch 2024 (Continued)(Continued)	Notes to theto thethe Financial StatementsStatements for the year endedthe year endedyear endedended 31st MarchMarch 2024 (Continued)(Continued)	Notes to theto thethe Financial StatementsStatements for the year endedthe year endedyear endedended 31st MarchMarch 2024 (Continued)(Continued)	Notes to theto thethe Financial StatementsStatements for the year endedthe year endedyear endedended 31st MarchMarch 2024 (Continued)(Continued)
a
13.	Analysisofnetassetsbetweenfunds	Restricted	Unrestricted	Total	Total
		2024	2024	2024	2023
		£	£	£	£
	Fixedassets	25,431	804,825	830,256	792,145
	Netcurrentassets	14,390	-	14,390	4,199
		39,821	804,825	844,646	796,344

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