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← Millfields Inspired

2023-08-31-accounts

Company registration number: 08430575 Charity registration number: 1151413

Millfields Inspired

(A company limited by guarantee) Annual Report and Financial Statements

for the Year Ended 31 August 2023

Millfields Inspired

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 19

Millfields Inspired

Reference and Administrative Details

Chairman Mr A Botterill
Trustees Mr A Botterill
Mr I G Tuffin
Ms L C Horton
Mrs N L Bridge
Mr P Q Barlow
Dr S J Felmingham
Mrs J Ellard
Ms N Sarlaka
Charity Registration Number 1151413
Company Registration Number 08430575
Registered Office HQ Business Centre
237 Union Street
Stonehouse
Plymouth
Devon
PL1 3HQ
Independent Examiner Matthew Keane ACCA
Westcotts (SW) LLP
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Page 1

Millfields Inspired

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2023.

Objectives and activities

Objects and aims

1.1.1 To advance the education of young people aged under 25 within the City of Plymouth, with a particular emphasis on the neighbourhood of Stonehouse ("the Area of Benefit") in such ways as the Trustees think fit including (without limitation): (1) Supporting them in preparation for entry into any occupation, trade or profession on leaving any establishment; (2) Providing support and activities which develop their skills and capabilities to enable them to participate in society and mature as responsible individuals;

1.1.2 To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation for people living in the Area of Benefit who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social or economic circumstances with a view to improving the conditions of life of such persons;

1.1.3 For the public benefit to promote learning for people no longer in full time education and/or employment through continued development of their individual capabilities; and

1.1.4 The relief of unemployment for the benefit of the public in the Area of Benefit in such ways as the Trustees think fit including assistance to find employment.

1.2 This provision may be amended by special resolution but only with the prior written consent of the Commission.

The main activity in support of the objectives is the running of a programme entitled Widening Horizons. The project works with year five children in the seven Stonehouse primary schools, providing them inspirational experiences linked to the world of work. The programme enables children to gain an insight into professions and careers and importantly the route through to these careers. It does so by either by taking children out to visit workplaces, or by bringing professionals into the classroom. The programme will enable children to make the link between their education and their professional careers and enable them to make more informed decisions. In doing so it will increase their skills and motivation to succeed.

Page 2

Millfields Inspired

Trustees' Report

Achievements and performance

Charitable activities

In the year 2022/23 Millfields Inspired set about implementing the plans they had discussed during the previous year. Each class graduated during July 2023. The development manager was able to visit the majority of schools in person.

The Widening Horizons programme has been extended from 7 schools to 9 to incorporate 3 schools in Devonport which neighbours Stonehouse. This expansion has been made possible by a funding agreement between Plymouth Drake Foundations Promoting Children in Plymouth Initiative and Millfields Inspired. In combination with an additional contribution from the Millfields Trust funding was in place for a Widening Horizons project coordinator until May 2024. Further funding has been secured in 2023, from a local business, which will enable the continuation of the new position. Widening Horizons delivered a full programme of visits in the year and recorded significant participant feedback for its evaluation processes. The evaluation report will be compiled in accordance with the Charity`s policy.

The #InspireMe programme was continued and further extended following the successful programme which ran the previous year.

The charity has set up a new Intergenerational Project which links local primary school children with elderly care home residents in a managed and supervised environment. The project aim is bidirectional and seeks to establish closer community connections. The project has been very successful and further sessions are planned.

Financial review

In the year the charity had total income of £79,166, total expenditure of £60,687 and a £15,000 loss on the revaluation of the painting resulting in a surplus of £3,479. This compares to a surplus in 2022 of £11,754.

Policy on reserves

The Reserves Policy of the Charity is to hold 3 months of running costs. The Charity currently holds £58,032 of General Unrestricted Funds. In addition, reserves have also been set up to cover staff contingency of £27,000 and development & innovation of £7,375.

Structure, governance and management

Nature of governing document

The organisation is a charitable company limited by guarantee, incorporated on 5 March 2013. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.

Page 3

Millfields Inspired

Trustees' Report

Recruitment and appointment of trustees

Trustees can be elected by members of the charity or co-opted by existing trustees. The Millfields Community Economic Development Trust Community Interest Company (Company Number: 03513202) has the power to appoint, remove and replace a majority of trustees so long as it is a member of the Charity, by written notice from time to time. The charity will recruit additional trustees, as and when required.

There were no changes in the membership of trustees during this financial year.

The charity maintains a register of members. Membership is open only to trustees and the Millfields Community Economic Development Trust Community Interest Company.

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Mr A Botterill Chairman and trustee

Page 4

Millfields Inspired

Independent Examiner's Report to the trustees of Millfields Inspired ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.

Responsibilities and basis of report

As the charity’s trustees of the 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 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 2011 (‘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 matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Millfields Inspired as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  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

  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.

...................................... Matthew Keane ACCA

Westcotts (SW) LLP Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT

Date:.............................

Page 5

Millfields Inspired

Statement of Financial Activities for the Year Ended 31 August 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income
Other recognised gains
and losses
Gains/(losses) on
revaluation of fixed assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
15		 Unrestricted
funds
£
74,340
74,340
(58,571)
(58,571)
15,769
(15,000)
769
92,268
93,037		 Restricted
funds
£
4,826
4,826
(2,116)
(2,116)
2,710
-
2,710
33,989
36,699		 Total
2023
£
79,166
79,166
(60,687)
(60,687)
18,479
(15,000)
3,479
126,257
129,736		 Total
2022
£
74,970
74,970
(63,216)
(63,216)
11,754
-
11,754
114,503
126,257

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 15.

The notes on pages 8 to 19 form an integral part of these financial statements. Page 6

Millfields Inspired

(Registration number: 08430575) Balance Sheet as at 31 August 2023

Note
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
13
Creditors: Amounts falling due within one year
14
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
15
Unrestricted income funds
Unrestricted funds
Total funds
15		 2023
£
700
5,000
5,700
47,404
92,346
139,750
(15,714)
124,036
129,736
36,699
93,037
129,736		 2022
£
-
20,000
20,000
11,365
130,452
141,817
(35,560)
106,257
126,257
33,989
92,268
126,257

For the financial year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 6 to 19 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

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

Mr A Botterill Chairman and trustee

The notes on pages 8 to 19 form an integral part of these financial statements. Page 7

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: HQ Business Centre 237 Union Street Stonehouse Plymouth Devon PL1 3HQ

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Millfields Inspired meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

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

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 8

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 9

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

Tangible fixed assets

Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Equipment

Depreciation method and rate 33% straight line

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 10

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Debt instruments

Debt instruments are subsequently measured at amortised cost.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 11

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Grants, including capital grants;
Donations from community groups
Donations and legacies;
Donations from individuals		 Unrestricted
funds
General
£
73,340
1,000
74,340
Unrestricted
funds
General
£
67,370
67,370		 Restricted
funds
£
4,826
-
4,826
Restricted
funds
£
7,600
7,600		 Total
2023
£
78,166
1,000
79,166
Total
2022
£
74,970
74,970

Page 12

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

4 Expenditure on charitable activities

Charitable activity
Allocated support costs
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
41,071
17,500
58,571
61,216		 Restricted
funds
£
-
2,116
2,116
2,000		 Total
funds
£
41,071
19,616
60,687
63,216
Premises costs
Staff costs
General costs
Trip costs
Finance costs
IT costs
Payroll costs
Administration costs
Depreciation
Total for 2023
Premises costs
Staff costs
General costs
Trip costs
Finance costs
IT costs
Payroll costs
Administration costs
Depreciation		 Activity
undertaken
directly
£
3,747
24,503
837
11,984
-
-
-
-
-
41,071
Activity
undertaken
directly
£
8,048
33,233
1,052
6,301
-
-
-
-
-
48,634		 Activity
support
costs
£
2,116
10,588
878
-
90
3,879
326
1,600
139
19,616
Activity
support
costs
£
-
13,179
393
-
165
289
273
270
13
14,582		 Total
expenditure
£
5,863
35,091
1,715
11,984
90
3,879
326
1,600
139
60,687
2022
£
8,048
46,412
1,445
6,301
165
289
273
270
13
63,216

Page 13

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

5 Net incoming/outgoing resources

Net incoming resources for the year include:

Depreciation of fixed assets 2023
£
139		 2022
£
13

6 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

7 Staff costs

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Development 2023
No
1		 2022
No
1

No employee received emoluments of more than £60,000 during the year.

8 Independent examiner's remuneration

Other fees to examiners
The examining of accounts of any associate of the charity		 2023
£
750		 2022
£
700

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 14

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

10 Tangible fixed assets

Cost
At 1 September 2022
Additions
At 31 August 2023
Depreciation
At 1 September 2022
Charge for the year
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022
11 Fixed asset investments
Other investments
Cost or Valuation
At 1 September 2022
Revaluation
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022
There were no investment assets outside the UK.
Investments were neither listed nor unlisted.		 Furniture
and
equipment
£
2,190
839
3,029
2,190
139
2,329
700
-
Investments
£
20,000
(15,000)
5,000
5,000
20,000		 Total
£
2,190
839
3,029
2,190
139
2,329
700
-
Total
£
20,000
(15,000)
5,000
5,000
20,000

Page 15

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

12 Debtors
Prepayments
Accrued income
13 Cash and cash equivalents
Cash at bank
14 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income		 2023
£
205
47,199
47,404
2023
£
92,346
2023
£
5,809
437
1,051
1,000
7,417
15,714		 2022
£
788
10,577
11,365
2022
£
130,452
2022
£
10,547
7,010
-
586
17,417
35,560

Page 16

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

15 Funds

Unrestricted funds
General
General fund
Community
Engagement
Staff
Contingency
Reserve
Revaluation
Reserve
Development
and Innovation
Reserve
Restricted funds
Grow
Stonehouse
Millfields Inspired
Community
Support
Immersive
Theatre Project
The Prom Shop
#Inspireme
Storytelling
Circle
Total restricted
funds
Total funds		 Balance at
1
September
2022
£
Incoming
resources
£
Resources
expended
£
Transfers
£
Other
recognised
gains/
(losses)
£
42,452
73,340
(56,850)
(910)
-
441
-
(721)
910
-
27,000
-
-
-
-
15,000
-
-
-
(15,000)
7,375
-
-
-
-
92,268
73,340
(57,571)
-
(15,000)
2,746
-
-
-
-
3,107
2,000
-
-
-
8,320
-
-
-
-
1,020
2,826
(2,116)
-
-
12,296
-
-
-
-
6,500
-
-
-
-
33,989
4,826
(2,116)
-
-
126,257
78,166
(59,687)
-
(15,000)		 Balance at
31 August
2023
£
58,032
630
27,000
-
7,375
93,037
2,746
5,107
8,320
1,730
12,296
6,500
36,699
129,736

Page 17

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

Unrestricted funds
General
General fund
Community
Engagement
Staff Contingency
Reserve
Revaluation Reserve
Development and
Innovation Reserve
Restricted
Grow Stonehouse
Millfields Inspired
Community Support
Immersive Theatre
Project
The Prom Shop
#Inspireme
Storytelling Circle
Total restricted funds
Total funds		 Balance at 1
September
2021
£
35,673
1,066
27,000
15,000
7,375
86,114
4,246
1,607
9,820
420
12,296
-
28,389
114,503		 Incoming
resources
£
66,520
850
-
-
-
67,370
-
2,000
-
600
-
5,000
7,600
74,970		 Resources
expended
£
Transfers
£
(59,207)
(534)
(2,009)
534
-
-
-
-
-
-
(61,216)
-
(1,500)
-
(500)
-
-
(1,500)
-
-
-
-
-
1,500
(2,000)
-
(63,216)
-		 Balance at
31 August
2022
£
42,452
441
27,000
15,000
7,375
92,268
2,746
3,107
8,320
1,020
12,296
6,500
33,989
126,257

Page 18

Millfields Inspired

Notes to the Financial Statements for the Year Ended 31 August 2023

16 Analysis of net assets between funds

16 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
700
5,000
103,051
(15,714)
93,037
Unrestricted
funds
General
£
20,000
107,828
(35,560)
92,268		 Restricted
funds
£
-
-
36,699
-
36,699
Restricted
funds
£
-
33,989
-
33,989		 Total funds
at 31 August
2023
£
700
5,000
139,750
(15,714)
129,736
Total funds
at 31 August
2022
£
20,000
141,817
(35,560)
126,257

17 Related party transactions

There were no related party transactions in the year.

Page 19

Millfields Inspired

Statement of Financial Activities by fund for the Year Ended 31 August 2023

Unrestricted Funds

Total Total
Unrestricted Unrestricted
Funds Funds
2023 2022
£ £
Income and Endowments from:
Donations and legacies 74,340 67,370
Total income 74,340 67,370
Expenditure on:
Charitable activities (58,571) (61,216)
Total expenditure (58,571) (61,216)
Net income 15,769 6,154
Net movement in funds 15,769 6,154
Reconciliation of funds
Total funds brought forward 92,268 86,114
Total funds carried forward 108,037 92,268

This page does not form part of the statutory financial statements. Page 20

Millfields Inspired

Statement of Financial Activities by fund for the Year Ended 31 August 2023

Restricted Funds

Restricted Funds
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2023
£
4,826
4,826
(2,116)
(2,116)
2,710
2,710
33,989
36,699		 Total
Restricted
Funds
2022
£
7,600
7,600
(2,000)
(2,000)
5,600
5,600
28,389
33,989

This page does not form part of the statutory financial statements. Page 21

Millfields Inspired

Detailed Statement of Financial Activities for the Year Ended 31 August 2023

Income and Endowments from:
Donations and legacies (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2023
£
79,166
79,166
(60,687)
(60,687)
18,479
18,479
126,257
144,736		 Total
2022
£
74,970
74,970
(63,216)
(63,216)
11,754
11,754
114,503
126,257

This page does not form part of the statutory financial statements. Page 22

Millfields Inspired

Detailed Statement of Financial Activities for the Year Ended 31 August 2023

Donations and legacies
Appeals and donations
Appeals and donations
Grants receivable
Charitable activities
Rent
Rates
Insurance
Repairs and maintenance
Wages and salaries
Staff pensions
Travelling
Printing, postage and stationery
Sundry expenses
Advertising
Bank charges
Depreciation of office equipment
Wages and salaries
Staff training
Grow Stonehouse
Computer software and maintenance costs
Organised trips
Organised trips
Accountancy fees
Payroll costs
Consultancy fees		 Total
2023
£
4,826
73,340
1,000
79,166
2,740
71
936
2,116
24,072
342
89
287
878
550
90
139
10,282
306
-
3,879
-
11,984
1,350
326
250
60,687		 Total
2022
£
7,600
67,370
-
74,970
6,590
551
907
-
31,932
1,272
29
704
393
348
165
13
13,179
-
1,500
289
500
4,301
270
273
-
63,216

This page does not form part of the statutory financial statements. Page 23