Registered number: 08142721 Charity number: 1151484 BETTER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
BEThER COMMUNITY BUSINESS NETWORK LIMITED {A Company Limited by Guarantee) CONTEKrs Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees, Report Independent Examinerfs Report Statement of Financial Activities io Balance Sheet Notes to the Financial Statements 12-21
BETTER COMMUNITY BUSINESS NETWORK LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 JULY 2024
Trustees & Directors
Mr R. Sawas Mr T. Usmani Mr K. Usmani Mr S. I. Abukalil Dr A. Abbas-Hanif Mr N Almas Afzal (Resigned 19 September 2024)
Company registered number 08142721 Charity registered number 1151484 Registered office 50 Havelock Terrace London SW8 4AL Chief executive officer Sabah Gilani Accountants Simmons Gainsford Professional Services Limited Chartered Accountants 14th Floor 33 Cavendish Square London W1G0PW
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BETTER COMMUNITY BUSINESS NETWORK LIMITED
(A Company Limited by Guarantee)
TRUSTEES & DIRECTORS' REPORT FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report together with the financial statements of the Better Community Business NetworkLimited for the year 1 August 2023 to 31 July 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January2019).
Objectives and activities
a. Policies and objectives
AIMS
To provide an effective conduit to encourage businesses to actively participate in community projects.
OBJECTIVES
BCBN seeks to identify worthwhile community projects and partner with credible charities. To raise the necessary funds and awareness to support socially challenging causes.
VALUES
As a Muslim led organisation, we have a set of shared values that help us make a positive contribution to society: integrity; transparency; and social justice.
POLICIES AND OBJECTIVES
- a) To promote cooperation, consensus and unity within the Muslim community. b) To support charities and organisations, which provide services that, benefit the community as a whole, c) To establish a position for the Muslim community within the UK that is fair and based on due rights, d) To foster better community relations and work for the good of society as a whole. e) To present Muslims in a positive light.
POLICIES
As a founding principle, the charity’s ongoing running costs are funded by the Trustees, and all other monies collected net of the specific event costs are distributed to the charitable causes supported.
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BETTER COMMUNITY BUStNESS NETWORK LIMITED (A Company Limited by Guarantee) TRUSTEES & DIRECTORS, REPORT (CONftNUED) FOR THE YEAR ENDED 31 JULY 2024 b. Activities undertaken to achieve objectives BCBN has been Nnning its ITI'41111 1111li.ilii i.. small grant awards since 2013 and was able to distribute funding to small community groups allowing us to distribute a grant of up to £3000 per monih.This has continued in the current financial year. Euroquality also donated unrestricted funding to BCBN to carry out its charitable objectives in 0810412024. I I Il*!Iiii Iliiiil G't)15'11)L)I"Il li L, provides culturally competent mental health support, training, advocacy, and community engagement to improve mental health outcomes for Muslim communities across the UK. In September 2023 il launched ' I';IliiL I..1 L'l"I li I Iiid. education loolkils, supporting young Muslims in UK schools. Furthern]ore, it launched a new podcast series ' ILi%I1111 11 i)IllL'lI "I"'Ilk' a Ramadan series on empowering Muslim women and discussing wellbeing. Sponsors of the podcast series I were Barnardo's (5.4.24) and IRUK {2.7.24). . Main actisqties undertaken to further the charity's purposes for the public benefit BCBN'S Grant Initiative aims to provide small third-sector grant awards to empower charities and local community projects. This Initiative distributes a one-off grant award of up lo £3,000 per charity or to small but credible community projects, which are able to demonstrate their positive impact on the communities they aim to serve. We have in place strtct vetting procedures and criteria for successful applications. We take a responsible altitude to the funds provided by our donors. The Initiative runs throughout the year, alongside BCBN'S more headline efforts. Our list of selection criteria, activilies excluded and the assessment process is noted on the website.. http'.In)cbn.org.uklgrant-initiativel A full list of all our beneficiaries through BCBN'S Grant Initiative are listed on http:Ilbcbn.org.uklbeneficiaries/. The Muslim Mind Collaborative (MMC) has been forn]ed as a result of ground breaking research conducted into the Mental Health and Wellbeing of British Muslims and drawing on academia, statutory services, communily practitioners, faith leaders and faith-led psychotherapy services. Our aim is to widen the parameters of the agenda on Mental Health to consider the needs of faith communities and service users of Muslim background. Our findings can be found on the BCBN website. MMC'S vision is to embark on a journey with our partners to ensure access lo appropriate mental health and wellbeing support for Muslim communities across the UK. To build a world where everyone has a quality of life and pathways to health. Muslim Women Talk Ramadan podcast provides a dedicated plaifonn amplifying the voices of Muslim women, reflecting BCBN'S commitment to supporting marginalised communities. As the leading wellness and lifestyle podcast on Ramadan, created and hosted by experts, it engages an untapped audience through storytelling, education, and representation. By fostering community cohesion and empowennent, it contributes to broader social impact and inclusion. Page 5
BEThER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) TRUSTEES & DIRECTORS, REPORT (CONTtNUED) FOR THE YEAR ENDED 31 JULY 2024 The Tntee8 consider that they have complied with the duty in section 4 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission. Achievements and performance a. Main achievements of the charity Since 2021, BCBN launched the 'Muslim Mind Collaborative.. building upon ils recommendations in the Hidden Survivors report continued to deliver in the current financial year. The Collaborative attracted over 50 (non-fee) member organisalions and services lo engage with others in the sector to further MMC objectives and share learning in the current financial year. MMC also built upon its expertise from the 2019 'Resilient Me, programme by creating 'Value Every Mind, educational toolkits as self-help guides for schools - staff, parents, and students. The resource provides a faith and culture-sensitive approach to Enenlal wellbeing and resilience in schools. Furtherniore, the launch of the new podcast 'Muslim Women Talk, series gained 8000 listeners within a few month4 of launch. was nominated for the International Women's Podcast Award 2024, and was spotlighted on Apple Podcasts during the Ramadan series. The podcast attracted high-profLle guests and helped promote the MMC ethos through its key messaging. BCBN is diversifying its grant initiative donor base and strengthening its grant-making framework to support disadvantaged communities across the UK. In doing so, we are able to continue our efforts in supporting grassroots initiatives and building social cohesion. b. Plans for future periods We welcome broader support and recognition of our efforts in community grant-making and strategic partnerships while exploring sustainable and impactful funding models for BCBN'S Grant Initiative. BCBN will continue to seek ways in which it can engage with the business community to continue supporting ¢hariiable causes. It will look al how it engages with businesses and charitkes for tUre events and partnerships. Muslim Mind Collaborative has been growing in its membership of mental health and wellbeing organisations, professionals and practitioners. We hope to register as a CIC and explore future ndIng opportunitie5 for its growth and expansion. We hope to partner with Mind UK mental health organisation in strengthening our mission and outreach across the sector. Financial review Going concern After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for 12 months from the signature of the balance sheet. For this reason, they continue to adopt the going concern basis in preparing the financial slalemenls. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Page 6
BETtER COMMUNITY BUStNESS NETWORK LIMITED (A Company Limited by Guaranlee) TRUSTEES & DIRECTORS, REPORT (CONTtNUED) FOR THE YEAR ENDED 31 JULY 2024 b. Reserves policy As a founding principle, the charity's ongoing running costs are funded by the Trustees, and all other monies collected net of the specific event costs are dislributed to charitable causes supported. Financial position At the year end the charity had unrestricted reserves of £32,681 (2023: £36,293). Strueturej governance and management Constitution The entity is constituted as a company limited by guarantee, company registration number 08142721, and is governed by the Memorandum and Articles of Association dated 13 July 2012. It is a registered charity, registration number 1151484. Its registered office is 50 Havelock Terrace, London, SW8 4AL and the charity's website is http'.1cbn.org.u1. The trustees who served in the period are listed on the 'Reference and adrninistrative details of the charity, its trustees and advisers, page. b. Methods of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the ternis of the Memorandum of Association. . Organisational structure and decision-making policies All trustees provide strategic governance and advice to the organisation. Ttustees make key decisions around budget, events and activities, supported projects and cause5. The charity employees and volunteers present charity partners and projects to the board of trnstees for decisions to be made on the prograrnmes the charity supports and llds. d. Trustees The trustees who served in the period are.. Mr R Sawas Mr T Usmani Mr K Usmani Mr S I Abukalil Dr Allyah Abbas-Hanif Mr N Almas Afzal (Resigned 19 Seplember 2024) Page 7
BErrER COMMLfNITY BUStNESS NETWORK LIMITED {A Company Limited by Guarantee) TRUSTEES & DIRECTORS, REPORT (CONrtNUED) FOR THE YEAR ENDED 31 JULY 2024 Statement of Trustees, responsibilities The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ti¢e). Company law requires the Trustees to prepare fmancial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied Ihal they give a lrne and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. n preparing these financial statements, the Trustees are r¢quired to.. select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102)- make judgments and accounting estimates that are reasonable and prudent; stal¢ whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to Show and explain Ihe charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the fmancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. Appr d by order of the members of the board of Trustees on 24 IV f i and signed on their behalf by.. Mr T. Usrnani Trustee Page 8
BEER COMMUNITY BUStNESS NETWORK LIMITED (A Company Limited by Guarantee) tNDEPENDENf EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2024 Independent Examiner's Report to the Trustees of Better Community business Network Limited ('the charity,) I report to the charily Trustees on my examination of the accounts of the charity for the year ended 31 July 2024. Responsibilities and Basis of Report As the Trnstees of the charity (and ils directors for the purposes of company law) you are responsible for the preparation ol the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the charity 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 the charity's accounts carried out under section 145 of the Charities Act 2011 ('Ihe 201 l 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 confirni that no matters have come to my attention in connection with the examination giving me Cause to believe: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act- or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 A¢t other than any requirement that the accounts give a 'trne and fair, view which is not a matter considered as part of an independent examination. or 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 lapplicable lo 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 lo enable a proper understanding of the accounts to be reached. This report is tnade solely lo the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to stale to them in an Independent Examiner's Report and for no other pury)ose. To the lIest extent pennitted by law, I do not accept or assume responsibility to anyone other than the charity and the Charity's Trnstees as a body, for my work or for this report. Signed.. Dated: 24-04-25 Abdultaiyab Pisavadi Bsc FCA Simmons Gainsford Professional Services Limited Chartered Accountants 14th Floor 33 Cavendish Square London WIG OPW Page 9
BEftER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING tNCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024 Unrestricted funds 2024 Total funds 2024 Total nds 2023 Note Income from: Donations and legacies 83,475 83,475 153.058 Expenditure on: Charitable activities 87,087 87,087 126,743 (3,612) (3.612) 26,315 Net movement in funds Reconciliation of funds: Total ndS brought fomrd Nel movement in funds 36.293 (3,612) 36,293 (3,612) 9,978 26.315 32,681 Total funds carried forward 32,681 36,293 The Statement of Financial Activities includes all gains and losses recognised in the year. The slalement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. All activities are classified as continuing. The notes on pages 12 to 21 form part of these financial statements. Page 10
BErfER COMMUNITY BUSINESS NETWORK LIMITED {A Company Limited by Guarantee) REGISTERED NUMBER.. 08142721 BALANCE SHEET AS AT 31 JULY 2024 2024 2023 Note Current assets Cash at bank and in hand 36,163 40,057 36,163 40,057 Creditors.. amounts falling due within one year (3,482) {3,764) Net current a$$ets 32.681 36,293 Total net assets 32,681 36,293 Charity funds Restricted funds Unrestricted funds 32,681 36,293 32,681 36,293 Total funds The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Aci 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial Statements. The fmancial slatements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on Z4 4P fl and signed on their behalf by: Mr T. Usmani Tnlee The note5 on pages 12 to 21 fonn part of these financial statements. Page 11
BEER COMMUNITY BUStNESS NETWORK LIMITED (A Company Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 General information The charity is a company limited by guarantee and registered in England and Wales. The members of the company are the Trustees named on page l. In the event of the charity being wound up, the liability in respect of the guarantee is limited lo £10 in total. Accounting policies 2.1 Basis of preparation of fillaneial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Section l A of Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102 S IA) (effective l January 2019), Section IA of the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Better Community Business Network Limited meetg the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unSess otherwise stated in the relevant accounting policy. 2.2 Going Concern After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for 12 months from the signature of the balance sheet. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 2.3 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and th¢ amount of tn¢ome receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Donaled services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer lirne of the Friends is not recognised and refer to the Trustees, report for rnore infonnation about their contribution. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount it would have been willing to pay lo obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount 18 then re¢ognised in expenditure in the period of receipt. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Page 12
BEER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 2. Accounting policies (continued) 2.4 Expenditure Expenditure is recognised once there is a legal or constru¢tive obligation to transfer economic beneftt to a third party. il is probable that a transfer of economic benefits will be required in setilernent and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one acttvity and support costs which are noi attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activilies which further the charity's objectives, as well as any associated support costs. Grants payable are charged tn the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions &tlaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a Commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.5 Government grants Government grants relating lo tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected use1 lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred. 2.6 Cash at bank and in hand Cash al bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Page 13
BETTER COMMUNITY BUSINESS NETWORK LIMITED (A Cornpany Limiied by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 2. Accounting policies (continued) 2.8 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrumenls are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Fund accounting General funds are unrestricted ndS which are available for use at the discretion of the Trustees in furtherance of the general objectives of th¢ Charity and which have not been designated for other purposes. Designated funds Comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 2.10 Cash floiv statement In accordance with the Charities SORP (FRS 102) the Charity is Claiming exemption from the requirement lo prepare a cash flow statement on account of it being a small Charity. 3. Income from donations and legacies Unrestricted funds Total nds 2024 2024 Donations 64,600 18,875 64,600 18,875 Grants 83.475 83.475 Unrestricted funds 2023 Total nds 2023 Donations 65,848 87.210 65,848 87,210 Grants 153,058 153,058 Page 14
BErrER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) NOTES TO THE FfNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 4. Analysis of grants Grants to Institutions Total funds 2024 2024 Grants. BCBN Grant Initiative 17,480 17,480 Grants to Institutions Total funds 2023 2023 Grants, BCBN Granl Initiative 30,284 30,284 Page 15
BETTER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee} NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 4. Analysis of grants (continued) The charity has made the following material grants to institutions during the year.. 2024 2023 Name ol institution Muslimah Sports Association Kent enterprise trust The Children's Society Cycle Sisters Community Development Link (CODEL) Sound Waves 2,500 3,000 4,361 2,996 2,999 3,000 2,985 MAGPAS Air Ambulance Creative Change Small Acts of Kindness Ella's home 3,300 3.000 3,000 2,892 3,000 2.970 2,771 1,990 3,000 Portsmouth Down syndrome ALICE Churn Project Nelson Trust Sunbean Play Encephalitis Society 17,480 30,284 17,480 30,284 Page 16
BEER COMMLfNITY BUStNESS NETWORK LIMITED (A Cornpany Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 5.Analysis of expenditure by activities Grant funding of activities Support costs Total 2024 funds 2024 2024 BCBN Grant Initiative 17.480 69,607 87,087 17.480 69,607 87,087 Grant funding of activities Total funds 2023 Support costs 2023 2023 BCBN Grant Initiative 30.284 96,459 126,743 30.284 96,459 126,743 Page 17
BETTER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 5.Analysis of expenditure by activities (continued) Analysis of support costs BCBN Grant Initiative Annual Gala 2024 2024 Other Charitable 2024 Total nds 2024 Salary and wages Pension 64,749 1,321 64,749 1,321 Publicity and marketing Event hire and audiolvisual 12,517 (12,467) 112 12,517 (12,467) 112 Bank charges Sundry expenses Accountancy fee Support costs 595 595 1,800 980 1,800 980 69,607 69,607 BCBN Grant Initiative Other Charitable 2023 Total nds 2023 Annual Gala 2023 2023 Salary and wages Pension 86,481 1,784 2.195 88 86,481 1,784 2,195 88 Publicity and marketing Bank charges Sundry expenses Accountancy fee Support costs 623 623 1,500 3,788 1,500 3.788 96,459 96,459 Page 18
BETtER COMMUNITY BUSINESS NETWORK LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 6. Independent exatniner's remuneration The independent examiner's remuneration amounts to an independent examiner fee of £1,800 (2023.. £1,800). 7. Staff costs 2024 2023 Wages and salaries Social security costs Contribulion to defined contribution pension schemes 58.000 6,749 1,321 78,051 8,430 1,784 66.070 88.265 The average number of persons employed by the charity during the year was as follows.. 2024 2023 Employees No employee received rernuneration amounting to more than £60,000 in either year. The key management personnel of the charity comprise the Chief Executive Officer. The total remuneration of key rnanagement personnel during the year was £58,000 (2023.. £58,000). 8. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 July 2024, no Trustee expenses have been incurred (2023 - £NIL). 9. Creditors: Amounts falling due within one year 2024 2023 Other taxation and social security Other creditor5 1,712 1,767 484 257 Accruals and deferred incoffle 1.513 1,513 3.482 3,764 Page 19
BErrER COMMUNITY BUStNESS NETWORK LIMITED (A Company Limited by Guarantee) NOTES TO THE FtNANCIAL STATEMEKfs FOR THE YEAR ENDED 31 JULY 2024 10. Summary of funds Summary of funds - current year Balance at I August 2023 Balance al 31 July 2024 Incorne Expenditure Designated ndS General funds 10,979 25.314 10.979 21,702 83,475 (87,087) 36,293 83.475 (87,087) 32,681 Balance at l August 2022 £ Balance at Expendkture 31 July 2023 Income Designated ndS General funds 10,979 (I,ooi) 10,979 25,314 153,058 (126,743) 9,978 153,058 (126.743) 36,293 11. Designated funds The designated fund represents money designated by the Trustees to be paid out to the Charitable cause{s) supported by the annual fundraising event. Page 20
BEER COMMUNITY BUStNESS NETWORK LIMITED (A Company Limited by Guarantee) NOTES TO THE FtNANCIAL STATEMEKfs FOR THE YEAR ENDED 31 JULY 2024 12. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds Total fid8 2024 2024 Current assets 36,163 (3,482) 36,163 (3,482) Creditors due wiihin one year 32.681 32,681 Total Analysis of net assets between funds - prior year Unrestricted nds 2023 Total funds 2023 Current assets 40,057 (3.764) 40,057 (3,764) Creditors due within one year 36,293 36,293 Total 13. Related party transactions The total aggregate value of donations received from trustees and other related parties in the year was £64,600 (2023.. £50,450). No conditions were attached to these donations. Page21