Charity number: 1153070 THE MARGINS PROJECT (Charitable Incorporated Organisatlon) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE MARGINS PROJECT (Charltsble Incorporated Organlsation) CONTENTS Page Reference and Admlnlstrative Detalls of the Charltable incorporated oryanlsatlon. its Trustees and Advisers Trustees. Report 2-15 Independent Examlner's Report 16-17 ststement of Flnancial Actlvltles 18 Balance Sheet 19 Notes to the Flnanclal Statements 20-33
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Vaughan Jones, Chair (resigned 31 August 2024) Angela Burnett, Trustee (appointed 27 April 2023) Leon Chng, Chair (appointed 16 November 2023) Sue Lukes. Trustee (appolnted 27 April 2023) Fajer Qasem. Trustee (appointed 30 May 2024) Mark GSanville Jones, Trustee {appointed 15 July 2024) Simon Carruth, Trustee (appointed 15 July 2024) Jean Appleyard, Trustee (resigned 23 April 2024) Charity reglst8red number 1153070 Principal offlce 19b Compton Terrace London N12UN Independent examlner Julian Flitter Goodman Jones LLP 1st Floor Arthur Stanley House 40-50 Totlenham Street London W1T 4RN Bankers Barclays Bank 38 Islington Green London N18EH Solicltors Bates, Wells and Braithwaite London LLP 2-6 Cannon Street London EC16YH Page 1
THE MARGINS PROJECT (Charltable Incorporated Organlsatlon) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together wlth the financial statements of the The Margins Project for the year 1 April 2023 to 31 March 2024. Prlncipal Alms and Objectlves The Margins Project (Margins) was established by the Union Chapel in 1992 to help people experiencing injustices and crisis, particularly those who are experiencing homelessness or Ilvlng in precarious housing conditions. The charlty, although it helps people from across London, primarily supports people from the London Borough of Islington and surrounding boroughs. In 2013 Margins was registered as a Charitable Incorporated Organisation (CIO). Its charltable objectives are 'to relieve need, hardshlp and distress of persons who are in need by reason of their soclal andlor economlc circumstances. in particular those who are facing homelessness and poverty, through a range of services including providing a safe space where they are encouraged to explore and develop their potential and progress to recovew. Values Statement Inclusion.. we strive to support people other agencies do not reach. Personal.. we tallor our work to the individuals we work with, providing in-depth support that has a meanlngful impact for them Empowerment: we provide people wlth the time, tools and opportunitles to realise thelr potential and succeed and to do so at their own pace. Quality: we are a team of specialists who aim high, because people facing homelessness and social injustices have a right to be supported by experts. Belonging.. we strive for our communities to be their own agencies and create an atmosphere of their own belonging in mainstream society. Vision Statement We are here for people faclng homelessness and social injustice. We belleve that everyone deserves an opportunity to flourish, realise their potentlal and find a place of dignity in society. Mlsslon Statement People facing poverty. homelessness. and social Injustice will achieve significant improvements in their wellbelng. economlc circumstances, employment prospects, andlor housing situation. They will achieve this through vertically integrated programmes of in-depth activities provided by our Community Dropin, Advice and Engagement, and Supported Employment Programmes, which are tallored to enhan personal development. maximise Income, aCsS housing support. and engage with wider group of communities. We aim to support our service users to achieve the following outcomes: Increase quality of Ilfe through better shelter, food, hygiene and safety, access to temporary or permanent accommodation, and the prevention of eviction. Improve physi1 andlor mental health and well-belng. Improve economic circumstances through access to benefits and employment. Improve Ilfe skills and employability skills. Improve confidence and self-esteem Improve links and engagement wilh mainstream society. Page 2
THE MARGINS PROJECT (Charitable Incorporated Organisatlon) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We do this by providing the following services.. A community drop-in programme of services twi a week, offering communities nutritlous hot meals, warm space, access to showers, laundry and clothing, hardship support, and emergency packs. Advice programme: services of advice on housing and benefits where all newcomers re1Ve an initial assessment to work on each of their cases, primarily on housing and benefits. with referrals to specialist agencies including to health services, debt management advice, immigration advice and domestlc violence support services. Community engagement programme to provide practical empowerfng support as well as creative workshops that ameliorate one's well-being and mitlgate isolation. A Supported Employment Programme. catering for guests visiting our community drop-in programme and for audlences joining Unlon Chapel events in the Marglns Café, This programme also provides ancillary support such as CV writlng and job-search. Public Beneflt In shaping the objectives and planning activities for the year. the Trustees have considered the Charity Commisslon's guidance on public benefit, including the guidance on publlc benefit and fee charging. In accordance with Section 17 of the Charities Act 2011, the Trustees consider how planned activities will contribute to the aims and objectlves that have been set. The Trustees ensure that all actlvlties are in accordance with the equal opportunlties policy of The Margins Project and consider the accesslbllity of the chapel to those on low incom8s by offering free and low-cost actlvities. onsite and remotely. Achievements and Performance The Trustees review the alms, objectives and activilies of the charity each year. This report looks at what the charity has achieved and the outcomes of Its work within the last twelve months. The Trustees report the success of each key activity and the benefits the charity has brought in, to those groups of people that it is set up to help. The report also helps the Trustees ensure the Charits aims, objectives and actlvities remain focused on its stated purposes. Summary Achievements and Challenges Achievements Continued support to over 400 unique individuals with access to nutritious hot meals, shower, laundry and IT facilities lce a week. Supported Employment Programme going from stfength to strength getling recognition by the local counclls for its potential to help vulnerable communities. Establishlng The Marglns Project as a strategic ally and contributor to Isllngton's vibrant Voluntary and Communlty partnership. Closer working relationshlp wilh Union Chapel Directions (UCD) to underscore and promote the central role Unlon Chapel plays In supporting the most vulnerable communities in our society, Opening Margins, services to wider and more diverse communities, reflecting the make-up of our society, including newly arrived refugees and asylum seekers Strengthening and further developing good relationships wlth local statutory, voluntary and corporate organisations and funders. Featuring The Margins Project and its activities on national radio and newspapers, local newspapers. and soclal media. Page 3
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Community Support and Development Programmes Marglns, four vertically integrated community programmes support and provide our communlties with: _ a warm and welcoming space through our communlty drop-in programme. an advice and information Servi through our advice programmo. a space of creativity and craftsmanshlp though our ongagement programme: and tralning scheme to help people develop confidence and self-esteem, potentially leading to employment andlor to further training through our supported employment programm8. Addressing the immediate, intermedlale and long-term support needs, these integrated community programmes contlnue to take people through a Joumey of support, advice and engagement, and training to a destiny of belonging in our soclety. As we assert and strengthen this journey of communlty work and its fundamental values Into our working culture, we empower our Communlties to have Confiden to engage wlth and to seek pertinent support without people feeling themselves as outslders from mainstream society. All Margins programmes: community drop-in programme, Supported Employment Programme, and Advi and Engagement programme, have provided an incluslve and engaglng Se1 throughout the year. The number of guests (service users) using our services have continued to increase durlng this reporting period. Attendance per drop-in servlce averaged 65, very much higher than last year's 58 average. This drastlc increase is for several reasons, including: A sequence of more people needlng our support followlng the pandemic. Cost-of-living crisls continues to blte. Many people transitioning from legacy benefits onto Unlversal Credit Increase of awareness about The Margins Project and Its role as one of the major Voluntary and Community Partners wlth Islington Council. The provlslon and service of professionally prepared nutritious hot meal to the community. Recognition and respect of our excellent advlce service. The positlve Impact of the Supported Employment Programme on guests coupled with acknowledgement by many of its effectiveness in guiding guests to move foard. The welcomlng atmosphere we have created to help people to engage, to contribute and to participate in the delivery of services. Acknowledgement that Margins is a safe place where many people in our communities feel safe and can have reprieve from the impacts and challenges of cold weather and isolation. Drop-Sn seNl¢es programme The community drop-in programme continued to offer to over 275 indlviduals hot nutritlous meals, access to showers, laundry, and IT facilities. access to emergency housinglbenefit advice; and the opportunity to engage in the kitchen training programmes. Working collaboratively and seamlessly with the Advice & Engagement and Supported Employment programmes, thls programme has seen the needs for Its setvices double over the last o years. This collaborative work has glven our guests readily accessible services under one roof. These are some of the achievements during this perlod: Continued offering over 6,181 nutrltlous hot meals and desserts, and over 12000 cups of tealcoffee. Whenever further support on houslng andlor welfare benefits is needed, the programme has provided seamless access to our inhouse advice and engagement service. Continued to offer access to IT, laundry and shower facilitles. Continued providing trainees to engage wlth drop-in Servi and learn the art of catering for vulnerable communlties. Maintained the number of volunteers, with at least 6-7 volunteers during drop-in session. Started gathering feedback about Margins servlces from guests to help Margins develop appropriate services going foard. Started to develop more in-depth demographic and attendance infomation for the servlce Page 4
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Community Drop-in Services 1707 18(JJ 1584 1600 1530 1390 1400 2 1200 19 1000 800 400 175 195 231260 206 252 242 267 175 162 200 144 168 36 38 49 45 13 42 14 oi Q3 April 2023 to March 2024 Q4 Total No of Gue5t5 New Guests i Women , Shower •Liundry mvolunteers Advice and Engagement Programm8 Ever Sin the advice and engagement programme became a full-time SeIce two years ago. demands for its services have Increased dramatically. The programme, ensuring those in extreme crisis are always prioritised. provided in-person, telephone and email advice, and where necessary it signposts indivlduals to relevant support services. The programme also saw a significant increase in indlviduals requestlng financial support. Thls sustained demand plus more and more asylum seekers resident in the two Home Office contingency hotels in Islington galning their refugees status have added extra demand from our advice engagement seNIs. The programme provided the followlng services over the period: A total of 212 unique advice and group engagements, averaging 53 unique reglstered every quarter A tota5 of 351 fa-to-faCe appointments, averaging 87 a quarter A total of 46 newly reglstered guests, averaglng 11 a quarter Over 160 referrals to a Food Bank, an increase of 40'/0, as a dlrect result of the cost-of-living crisis as told by guests, and new guests Over 75 supported on travel and utility top up, an Increase of 39 %, as a direct result of the cost-of-living crisis as told by guests An 89 % increase in people seeking general benefit advice, largely due to cost-of-livlng payments and eligibility querles. and new refugees 145 guests receive hardship support from cloudesleS hardship fund to support guests and trainees wlth expenses such as travel, emergency food, emergency accommodatlon. furniture, electrlcltylgas. mobile top-ups, cutlery, and bedding We continue gathering feedback on how Margins can prioritise the Se1$ of the advice and engagement programme and how guests can participate in the delivery of the services Page 5
THE MARGINS PROJECT (Charitable Incorporated Organisation) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Activity summary table, April 2023 to March 2024 Actlvlty Drop-in and food takeaway Total number of visitors this year Numberslinfo Notesldescription 275 April 2023 to March 2024 Total number of separate visits this year 6,181 The highest number ever recorded. An estimate Total people supported. Advice and support Total number of advice sessions April 2023 to March 2024 Number of people supported this year 3,500 estimated (double counting apply) 440 Advice sessions Highest number recorded 232 Advocacy by Beneflt Advisor Universal Credit Support Cloudesleyfund General Benefit Advice given. Housing Issues Streetlink referral Applied for benef its. Applied for PIP Benefit assessment pending Food Bank Signposted for mental health support. Signposted to Law centre. Housing options Referred into 3rd Party employment. Signposted to Immigratlon specialist. Successful Benefit applicatlon Drug and 81cohol referral Housing review Number of hardship payments 145 Page 6
THE MARGINS PROJECT (Charitable Incorporated Organlsation) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Supported Employment Programme Our Intensive Supported Employment Programme, wlth ancillaryjob search support has continued uninterrupted. We have had referrals from a wide range of organisations, including Hillslde Club House but increasingly from Islington Council and Job Centre Plus. Three trainees completed the programme (Stages One and Two) and one was offered a job in a restaurant. In addition to learnlng food preparatlon, hygiene and safety. budgeting, healthy eating, customer service skills. employabillty, and job search skills, trainees also gain level 213 food hygiene accreditation (certificated). In 2023124 we had 9 people registered for the programme. Of these 9 trainees: One trainee wlthdrew in Stage ONE for they have needed more support than Margins can provide them with. It was thls agreed with their referring agency to find them an altemative supporting scheme elsewhere. One tralnee withdrew in Stsge TWO for they have moved on with Margins, help to a suilable volunteerlng opportunity where they will have and get additional support. Three graduated and gained employment- in a bakery shop. in a school and in a charity respectively, and a fourth is volunteerlng with various charities, includlng Margins. Two Érainees are still in Stage TWO of the programme and are progresslng well. One Irainee, although already completed the programme, has needed more support. so they are still in the programme to provide peer support to newly registered candldates and to provide themselves with additional support. Supported Enwloyllfft Prograrnme Trainees April - June 2023 July- Sept 2023 Oct- Dec 2023 Jan - March 2024 TOTAL Y3 2023-2024 Registered Trialled Graduated Employed/further training Moved without graduation External partners and Ilnks with servlce activities Margins has continued to work, link and liaise closely wlth various organisations and groups throughout the year: London Housing Foundation- supported employment programme Groundswell to support Margins guests with health support needs Homeless Prevention and Rough Sleeper Forum Islington Food Partnershlp - regular catch up on food poverly in the borough Manor Gardens Centre Page 7
THE MARGINS PROJECT (Charltable Incorporated Organisation) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Mary's- the charity arm of St Marls Islington - community development neOrk Pret A Manger- fundlng support and training Help on Your Doorstep Islington Council- funding support and monitoring Hillside Clubhouse, volunteer referral and advice on mental health NHS, Whlttinglon Hospital outreach nurse The Manna, St Stephens Church The Passage and the Upper Room- employability in hospltality Islington Centre for Refugees and Migrants The Felix Foundatlon Royal Holloway University Cloudesley Margins contlnued organising events for and with partners, including.. Hosting, facilltating, and running weekly communily engagement workshops In the lower Hall for elght weeks Two information and discussion sessions on the cost-of-livlng crisis for Marglns guests Several events of the Islington Food partnership, for which Margins played a significant role as a member of the coordinating body. Margins also facilitated the following: Visit from Rough Sleepers Outreach Team to drop-in serViS on a Wednesdays On a month. Islington Library attended Margins drop-in services and donated a selection of free books regularly. NHS Trust mental health nurse to occasionally attend and to visit Marglns services as and when needed Public Health Strategist from Camden and Islington Public Health complled a survey with guests to update the Camden and Islington Food Poverty Needs Assessment. Report expected to come out soon. Attendan from Islington's Complex Needs Navigator to conduct a survey with guests around homelessness affecting women Islington Council's Cost of Living crisis Information leaflets given out as well referral to workshops on cost-of-living crisis Donation polnt Our communities conlinue to be generous, and we encourage people to donate items, such as toiletries, Undeear, socks, canned vegetables, but not large and bulky items such as beddlng, jackets and trousers due to the lack of capacity within the organisatlon to manage these Items. The Felix Project have continued the delivery donations of fresh food every Monday, and we continue collecting fresh food from Iwo local businesses - Budgens and Belle Epoque - on Mondays and Wednesdays. Page 8
THE MARGINS PROJECT (Charitable Incorporated Oryanlsatlon) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Demo of 8eFvice u8er8and attendance lor4dvScè8nddro in 8ervi¢es Awil. June 2023 July. Sept2023 r)¢t- Doc2023 Jan. Morch 2024 TOTAL Y3 2023-2024 iixilEiaEIIEllEII %Whqre Nmber %Whu• Number % Where know Numb Inu•a80 fromlast Tol&l unlquou5er8 Number Comm Dro .Ins Advice & Eng8gqmenl Totsl uniqueuseT8 Dio IDS- average Ad¥iceSeNlce Advlceservlce Gwder Male Female Age 20- 21-30 3140 41-50 5140 61* Unkmwn Eihnlcity Whlie Bfitishorlrish otherlIe EU nalionals Romanian Othereth¢ftleB While and Black c1bbean 150 95 130 125 151 165 152 173 275 196 410 65 69 59 45% 42% 68 45% 46% 51% 35 28% 40 24% 25 14% 37 29% 65 68% 32% 85 65% 35% 110 55 116% 58% 120 53 96% 42% 95 86% 42% i% 6% i% 14% 13 37 45 42 27 31 49 39 22% 25% 39% 31% 5% 16% 14 29 39 35 11% 24% 32% 29% 19 25 27 12% 15% 16% 27 35 32 28% 26% 8% 20% 7% 14 11% 19 20 16 13% 29 31% 32% 56 59% 45 36% 39% 8% 14% 1% 10 10 15 20 21% 18 14% 12% 13 11 Page 9
THE MARGINS PROJECT (Charltable Incorporated Organlsatlon) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ethniclty Asian Indlan Pakislanl 3% 2% 1% 1% o18eNtCouw¥8ndattffid8t1OTftdyIC0AndlkO In 84nfjc•8 iIÈIiÈEIÈiIÈiI Number know Nber %WhH• Nunther %Where Numhr %Whra Number Increa89 Irom last Bangladeshi Chlnese Sri Lanka BIBcklAfriCaCb1lbhTh1B[aCkBrtsh Afrfcan Caribbean BlackBritish Arab Anoihereihnlc group Ethnicty unknown Houllng Situation Horneles9 Peimanenl Housin Tempoi8ryAccommodalion Unknown Heallh¥rtuation Menlal Heallh Physl¢al111 health Boih mental & Physical ill heakh Subs18nce misuseldependenc None Unknown Boroughth Residence on Camden Enfield Hdckney H8lln Kensl on&Chelsea Tower HaNlets Olher 1% i% 15 12% 25 26% 26 21% 18 17% 13 14% 13 10 io% 20 10 10 10 21% 11% 11% 21 17% 17 15% 8% 8% 14% 5% 14% 16 19 13% 15% 21 17% 16 19 20% 35% 21% 24% 28 38 31 27 23% 30% 36 46 42 41 38% 4B% 44% 43% 38 52 30 28% 39% 31% 42% 35% 31% 20 23 34 33 21% 39 22 23% 6% 23% 40 20 40 15 10 42% 21% 42% 16% 11% 42% 34% 34 14 31% 13% 29% 25 41 14 19 29 1Q 17 34 23% 33% 11% 12 13 36 14 27 14% 27% 12% 32% 28% 41 31 61 64% 80 64% 6% 1% 95 10 loo% 11% 2% 16% 21% 107 17 86% 14% 86 78% io% 2% 8% 13% i% 15 18 14% 14 1% 2% 10 11% 3% 3% 4% Page 10
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 of••NIc••a*nd8gnd4N>ttsrJyTc•&nd dto 9% UThknown 6% 4% 7% %Wh•r• know %Whef• Numb %Whgr• %Wher• Nwnbw tneréase fromlest R•f4rra From Nnb Numbèr Numb•r l$lingloD Coundl JobCentFe Wu9 Marulog Dio In8 Online Sell-Referr81 Word ol Mouth Thlrdy8rtyOl9anlsali Llnknown erson 11 12% 8% 26% 8% 1% 19% 9% 17% 39% 38% 24% 18 14% 23 16 40 10 24% 17% 42% 23 18% 5% 62% 19 10 17% 10% 39% 8% 25 35 28% 1% 18% 9% 16% 06% 14% 5% 37% 12% 26% 131% 43% 14 32 11% 26% 1% 16% 91% 47% 17 23 35 27 16 36 36 20 49 25 124 41 20 114 59 20 81 36 19% 86% 36% 24% RenTh)te Mixed Plans for the Future In the coming year, Marglns will continue to play a significant role in supporting communities whose lives are made precarious by the current economic and political policy framework. We will prioritlse work with: People homeless or vulnerable to homelessness, because of insecure or inadequate housing, and domestlc abuse Refugees, asylum seekers, including survivors of trafficking and people with no recourse to public funds People experienclng menlal ill health, through prolonged duress, slress. depression, dlagnosed and undiagnosed condltlons People with inadequate income for their dally needs, who benefit from material help such as a hot meal People who need to acquire new skills Including English language and vocational skills to advance within this society and be able to secure a pla wlthin the labour market Recognising the intersectionality wilh ethniclty, gender, sexuality, abilitles within these groups Our intention is to be a welcoming space In which people affected by societls injustlces are enabled and supported by providing.. practical help In the form of nutritious meals, clothing, showers, laundry. activities whlch encourage crealivity, awareness raising, and mental and physical wellbeing. training and language skills leading to employment and soclal integration., advi on benefits, signposting to immlgr8tion advice, access to housing, housing repairs., and crisis Intervention, when needed, in mental health We will address the social policy Issues which disproportionally disadvantage some local communltles by: advocating wilh our beneficiaries in resolving bureaucratic problems., publlcislng our work in a manner which adds dlgnity to our beneficiarles and highlights the inequalities and Injustices which they experience; and participating in the wider not-for-profit sector campalgns and forums The impact of our work will be felt by beneficiaries as they build relationships of mutual support, are enabled to access employment. improve their physlcal and mental well-being, participate in the wider community. Page 11
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financlal r8VI8W Summary Overall, Margins reported a surplus of £28,073 for the financlal year compared with a loss of £58,247 for 2023. Income Increased by 330/0 to £297,780, whlle costs have fallen by 4 /0 to £269,707. This is due to lower salary costs as detalled below under the Expenditure heading. Of the surplus, £24,000 has been carried forward as restricted reserves while £4,073 has been added to unrestricted reserves. Net funds at 31 March 2024 were £31,087. of which £24,000 was restricted funds and £7,087 was unrestrlcted. Income Income for the period was £297,780 (2023- £223.123) ofwhich £233.208 (2023.. £173,093) was from donations and legacles, and £64,285 (2023: £49,947) from charitable actlvities. Expenditure Expenditure for the year totalled £269.707 against £281,370 for 2023. a reduction of 40/0. Although the organisation continued to be impacted by inflation the overall costs were reduced, in part due to staff vacancies. Going concern After making appropriate enquiries, the Trustees have a reasonable expectstion that the CIO has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ReseN8s policy Margins, reserves policy reflects the organisation's objective of striklng a balance between the need for financial stability and the ambition to expand the range of services offered. This year and for the next few years the focus of attention is to restore reserves to a prudent level to ensure sustainability whilst working to develop new strategy and associated funding model. At 31 March 2024, unrestricted funds, of which reserves form a part, were reported as £7,087. This represents: Designated fixed assets reserve 959 other unrestricted reserves 6,128 Total 7,087 Fundralslng Approach Margins, approach to fundraising is to be transparent, clear and friendly. We currently use personnel employed by Union Chapel Prolect. Occasionally, we do engage with third party fundraisers or commercial operators and with online providers such as justglving.com and crowdfunder.com. We fundraise for activities and services within Margins, aims and objectives. Our main fundraising activlties are through formal applicatlons to Trusts and Foundations, corporate supporters and slatutory bodies. We also receive donations from indivlduals, mainly generated through our website. or land donations at fundraising events. The fundraising team, in liaison wlth the head of Margins, is responsible for managing all donated funds and reporting where required. The head of Margins. along with Ihe Board of Trustees, reviews fundraising income. Page 12
THE MARGINS PROJECT (Charitable Incorporated Organisation) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 expenditure and procedures on a quarterly basis whlle the fundraising strategy is reviewed annually. Margins is independently registered with the Fundraising Regulator and abides by Its Code of Practi. Margins has recelved no complaints about its fundraising activities. However, to ensure that vulnerable people are protected, it has adopted guidance from the Institute of Fundraising's guide, Treating Donors Fairly- Fundralslng wilh People in Vulnerable Circumstances. Stru¢tur8, Governance and Management Constitution The Margins Project is a Charitable Incorporated Organisation (Charity registratlon no.'1153070), registered on 25 July 2013. It is governed by a constitutlon which establishes the objects and powers of the charitable organlsation, Margins is one of the four organisalions based in Union Chapel in Isllngton, the other three being.. Unlon Chapel Project {UCP) (Charity no. 1010186, Company no.02583801) Unlon Chapel Dlrections (UCD) (Company no 03047257) Union Chapel Church (Charity no1172808) Margins is govemed by Its Board of Trustees, two of whom are nominated from the UCP. The Board of Margins oversees and directs the aims and oblectives of The Margins Project. Organisation The Board meets four times each year, or more frequently if required. The Trustees are responslble for the strateglc objectives of the organlsation and to review the charitls annual budget and operational plan. Appointment of Trusteas In accordance with the constitutlon, there should be between four (minlmum) and nine (maximum) Trustees. Two of these Trustees are nominated by UCP, with the remainder being elected. When considering new trustees, the Board has regard both to the organisatlon's need for any speclallst skills and to the diverslty of the Board's membership, All Trustees give their time voluntarily and receive no benefits from the CIO. Any expenses reclaimed from the CIO are set out In Note 8 to the accounts. Tmstee InduGtion and training New Trustees undergo an orientation process to meet key staff and other trustees. An information pack is provided that includes the Charity's Constitution, most recent statutory and management accounts, the business plan and organisational chart, along with signpostlng to Charity Commission guidance on the role and responsibilities of trustees. Trustees are encouraged to attend appropriate external training events, where these will facilltate their own development and undertaking of their role. Employees Day to day management and operations of the CIO are delegated to its paid staff through the Head of Marglns with specific responsibility for activities. Margins strives to be an equal opportunities employer and applies objective criteria to assess merlt. It alms to ensure that no job applicant or employee reiVeS less than favourable treatment on the grounds of age, race, colour, nationality, rellglon, ethnic or national origin. gender, marital status, sexual orientation or dlsabllity. Selection crlteria and procedures are reviewed to ensure that individuals are selected, promoted and treated based on thelr relevant merits and abllities. Equal opportunilles data is collected to revlew and ensure recruitment prosseS are engaging wlth diverse applicants, and particularly applicants with protected characterislics or underrepresented in the organisatlon or sector, and to inform the shortlistlng process to Page 13
THE MARGINS PROJECT (Charitable Incorporated Organisation) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ensure appllcants at interview stage represent the diversity of applicatlons received. Diversity reviews are underlaken to ensure the Marglns Project and Union Chapel are improving the representation of our local communities across the organlsation: retaining staff, casuals. volunteers and trustees from diverse backgrounds. and, improving procedures, culture. engagement, development and approach to diversity, equality and representation. Salaries are reviewed on an annual basis by Union Chapel's Flnance and Remuneralion Sub-committee of which The Margins Project is represented along with all the organisations in Union Chapel. All employees are glven equal opportunity and, where appropriate and possible, special training to enable Ihem to progress both within and outside the organlsation. Rlsk Management The trustees are responsible for overseeing the risk management strategy for the organlsation. A comprehensive review of risks and opportunities Is carried out annually by the trustees and the slaff are responslble for overseelng and mitigating risks throughout the year. Currently, the key risks facing the charlty are financlal sustainability, staff capacity and safeguardlng. Some of the measures laken to mltlgate these rlsks are the following: staff capacity is under ongoing review Robust vulnerable adult and child safeguarding policies, and an established training plan to ensure all staff and volunteers have the necessary understandlng to recognise and respond to safeguarding concerns with Margins, client group which includes people who are at risk of ham or abuse Plans in place to manage seNice capaclty (up to a reallstic maximum capacity) in response to increased demand arlsing from the cost-of-living crlsis and other f8Ctors Monitoring by the Margins Board to ensure funding (grants awarded and donations) Is sufficient to ensure the continuation of the servlce and financial stability Therefore, the trustees are satisfied that systems are In place to mltlgate the risks Identified. Page 14
THE MARGINS PROJECT (Charltsble Incorporated Organlsation) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 statement of Trust8es' Responsibilitle8 The Trustees are responsible for preparlng the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practice). Charlty law requires the Trustees to prepare financial statements for each financial year. The Trustees must not approve the financial statements unless they are satisfied th8t they give a true and fair view of the state of affairs of the charitable incorporated organisatlon and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financlal statements, the Trustees are required to.. select suitable accounting policles and then apply them conslstently.. observe the methods and principles of the Charities SORP (FRS 102). make judgments and accounting estimales thal are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explalned in the financial statements., prepare the financial statements on the golng concern basis unless it is Inappropriate to presume that the charitsble incorporated organisation will continue in buslness. The Trustees are responslble for keeplng adequate accounting records that are sufficient to show and explain the charitable inoorporated organisation's transactions and disclose with reasonable accuracy at any time the financial posltion of the charitable incorporated organisation. They are also responslble for safeguarding the assets of the charitable Incorporated organisation and hence for taklng reasonable steps for the prevention and detection of fraud and other Irregularities. The Trustees are responsible for the maintenance and integrlty of the charity and financial Information on the Charlws website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by order of the members of the board of Trustees and signed on thelr behalf by: Leon Chng (Chair of Trustees) 30-01-25 Date: Page 15
THE MARGINS PROJECT (Charltablg Incorporated Organisation) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlner's Report to the Trustees of The Maryins Project ('the charitable Incorporated organlsatlon.) I report to the charity Trustees on my examination of the accounts of the charitable incorporated organisation for the year ended 31 March 2024. ResponsÈbilities and Basis of Report As the Trustees of the charitable incorporated organisation you are responsible for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the charitable incorporated organisation's accounts carried out under section 145 of the 2011 Act and in carrying oul my examination I have followed the applicable Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. Independent Examlner's Statement Since the charltable incorporated organisation's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which Is one of the listed bodies. Your attention is drawn to the fact that the charitable incorporated organisation has prepared the accounts in accordance with Accounting and Reportlng by Charities.. Statem8nt 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) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice Issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effectlve for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept In respect of the charitable incorporated organisation as required by section 130 of the 2011 Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requlrement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn in this report In order to enable a proper understandlng of the accounts to be reached. Page 16
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 This report is made solely to the charitable Incorporated organlsation'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 charitable incorporated organisation's Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not acpt or assume responsibillty to anyone other Éhan the charitable incorporated organisation and the charitable incorporated organlsallon's Trustees as a body, for my work or for this report. Signed: Julian Flitter Dated.. 30-01-25 FCA Jullan Flltter Goodman Jones LLP 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T4RN Page 17
THE MARGINS PROJECT (Charitable Incorporated Organlsation) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restrfcted funds 2024 Total funds 2024 Total funds 2023 Note Incomo from: Donations and legacies Charltable activities Investments 44,600 64,285 289 188,606 233,206 64,285 289 173,093 49,947 83 Total Income 109,174 188.606 297.780 223,123 Expendlture on". Raising funds Charilable actlvltles 19,550 85,551 19,550 250,157 19,904 261,466 164,606 Totsl expendlture 105,101 164,606 269,707 281,370 Net movement In funds 4,073 24,000 28,073 (58,247) Reconclllatlon of funds: Total funds brought forward Net movement In funds 3,014 4,073 3,014 28,073 61,261 (58,247) 24,000 Total funds carried forward 7,087 24,000 31,087 3,014 The Statement of Flnancial Activlties includes all gains and losses recognised in the year. The notes on pages 20 to 33 form part of these financial statements. Page 18
THE MARGINS PROJECT (Charltable Incorporated Organisatlon) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 10 959 2,588 959 2,588 Current assets stocks Debtors Cash at bank and in hand 11 12 1,000 1,255 155.964 27,384 137,427 158,219 164,811 Creditors.. amounts falling due within one year 13 (128,091) (164.385) Net current assets 30,128 426 Total net assets 31,087 3,014 Charlty funds Restricted funds Unrestrlcted funds 14 24,000 Designated funds General funds 14 14 959 6,128 3,014 Total unrestricted funds 14 7,087 3,014 Total funds 31.087 3,014 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Leon Chng (Chair of Trustees) Date: 30.01-25 The notes on pages 20 to 33 fomi part of these financial statements. Page 19
THE MARGINS PROJECT (Charltable Incorporated Organlsatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Gen8ral informatlon The Margins Project is a charltable incorporated organisation registered with the Charity Commission in England and Wales under charity number 1153070. The main activities of the charity are to provide services to relieve need, hardship and distress for people in need as a resull of social and l or economic circumstances. The registered Offi is 19b Compton Terra, Islington. London N12UN. Accountlng policies 2.1 Basis of preparation of flnancial statements The financlal statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland (FRS 102). The financial statements have been prepared to glve a 'true and falrf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provlde a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities". Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Marglns Project meets the definition of a public benefit entity under FRS 102. Assets and Ilabilities are initlally recognised at historical cost or transaction value unless otherwise stated in the relevant accountlng policy. 2.2 Golng concern The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern. The trustees do not conslder that there are any sources of estimation uncertainty at the reportlng dale that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities withln the next reporting period. 2.3 Income All income is recognised once the charitable Incorporated organisation has entitlement to the income. it is probable that the income will be reiVed and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a re1vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balan Sheet. Where Income is recelved 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. Income tax recoverable in relation to investment income Is recognised at the tirne the investment income is receivable. Page 20
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (contlnued) Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, It Is probable that a transfer of economlc benefits will be required in settlement 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 actlvity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single actlvity are apportioned beeen Ihose activities on a basis consistent with Ihe use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portlon of the asset's use. Expenditure on raising funds includes all expendlture incurred by the charitable incorporated organisation to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activitles is incurred on directly undertaking the activities which furlher the charltable incorporated organisation's objective5, as well as any associated support costs. All expenditur8 is inclusive of irrecoverable VAT. 2.4 Interest recelvabl8 Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable incorporated organisation; this Is normally upon notification of the interest pald or payable by the institution with whom the funds are deposited. 2.5 Tanglble flxed assets and d8preciatlon Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairmenl losses. All costs Incurred to brlng a tangible fixed asset into its intended working condition are included in the measurement of cost. Depreciation is charged so as to allocate the cost of tanglble fixed assets less their residual value over their estimated useful lives, using the stralght-line method. Depreciation is provided on the following basis: Fixtures and fittings 250/0 Straight Llne 2.6 Stocks Stocks are valued at the lower of cost and net reallsable value after making due allowance for obsolete and slow-moving stocks. Cost Includes all dlrect costs and an appropriate proportion of fixed and variable overheads. Page 21
THE MARGINS PROJECT (Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (continued) 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturlty of three months or less from Ihe date of acquisition or opening of the deposit or similar account. 2.9 Llabilities and provisions Liabilities are recognised when there is an obligation at fhe Balance Sheet date as a result of a past event, it is probable that a transfer of economlc benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabllities are recognised at the amount that the charitable incorporated organisation anlicipates it will pay to settle the debt or the amount it has recelved as advanced payments for the goods or servlces it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provislon Is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks speclfic to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.10 Flnanclal instruments The charitable incorporated organisatlon only has financial assets and financial liabilltles of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transactlon value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. General funds are unrestricted funds which are 8vailable for use at the discretion of the Trustees In furtherance of the general objectlves of the charltable incorporated organisation 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. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable incorporated organisation for particular purposes. The costs of raising and administering such funds are charged against the speclfic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Page 22
THE MARGINS PROJECT (Charltable Incorporated Organlsation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from Donatlons and Legacles Cole Charitable Aid Foundation Bentley Motors Lid The Grace Trust Union Chapel Church Tho Allan Charitablo Trust Slaughter and May ChaTilable Trust The Mount Fund Cloudsley London Housing Foundation Albeit Hunt Trust The H*nry Smith Charity Tho 29th May1961 Charil4ble Trust London Borough ol Islinglon Oak Foundation Linbury Tiusi Olhei donations Total Vnre5tTlCted 21,129 500 1.000 4.604 2,000 1,200 Restricted Total 21.129 500 1,000 4,604 2.000 1,200 5.000 1.951 7.500 7,000 10,417 6,000 15.000 36,000 5.000 27,000 5.000 1,951 7,500 7,000 10,417 6,000 15.000 36.000 5.000 12.833 IOB,701 14,167 44,600 Supported Employment - Chef5 Cloudsley Total 4.905 4,905 4.905 Supported Employment - Tiaineo Chefs Tho Henry Smith Chaiily Total 12.500 12,500 12,500 Suppowled Employmenl - Head Chef Cloudsley Total 10.000 10.000 10,000 CTiSiS Sorvi¢e - Housing and Benefils Advi50r Slaughter and May Charilable Trust Cloudsley Total 29.333 1,000 30,333 29.333 1.000 Page 23
THE MARGINS PROJECT (Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from Donations and Legacles (Continued) Unie5tri¢ted Rèstfi¢ted Total Crisis Service - Diop in Seivice Food Cloudsley Total 17,500 17.500 17.500 CIisi5 5eFvi¢es - Haidship Fund Islinglon Giving 6,867 S,667 6,667 Total foi 2024 44,600 188.606 233.208 Income from charltable actlvltles Unrestricted funds 2024 Total funds 2024 Income from charitable acllvitles 64,285 64,285 Unrestrict8d funds 2023 Total funds 2023 Income from charitable activities 49,947 49,947 Investment income Unrestricted funds 2024 Total funds 2024 Investment income 289 289 Page 24
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment Income (contlnued) Unrestricted funds 2023 Total funds 2023 Investment income 83 83 Analysis of expendlture by activities Activities undertak8n dlrectly 2024 Support costs 2024 Total funds 2024 Supported Employment Crisis Services 107,641 48,172 54,193 42,151 161,834 88,323 Total 2024 153,813 96,344 250,157 Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Supported Employment Crisis Services 82,896 75,240 36, 722 66,608 119,618 141,848 Total 2023 158,136 103,330 261,466 Page 25
THE MARGINS PROJECT (Charitable Incorporated Organisatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlture by actlvltles (continued) Analysls of dlrect costs Supported employment Programme 2024 Crisis service 2024 Total funds 2024 Staff costs Other direct costs 75,633 32,008 29.041 17,131 104,674 49,139 Total 2024 107,641 46,172 153,813 Supported Employment Programme 2023 Crisls seNice 2023 Total funds 2023 Staff costs Other direct costs 60,153 22, 743 42,527 32,713 102,680 55,456 Total 2023 82,896 75,240 158, 136 Analysis of support costs Supported employment programme 2024 Crlsis servlce 2024 Totsl funds 2024 Staff costs Services other Premises 28,287 10,324 8,256 7.326 22,000 8,031 6.422 5.698 50.287 18,355 14,678 13,024 Total 2024 54,193 42,151 96,344 Page 26
THE MARGINS PROJECT (Charitable Incorporated Organlsation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expenditure by activities (continued Analysls of support costs (continued) Supported Employment Pn)gramme 2023 Crisis seryice 2023 Total funds 2023 staff costs Services other Premlses 31,952 1,848 1,634 1,288 49,349 7,070 5, 683 4,507 81,301 8,918 7,317 5, 795 Total 2023 36, 722 66,609 103,331 Independent examlner's remuneration The independent examlner's remuneration amounts to an independent examiner fee of £3,000 (2023- £2,500). staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 141,855 10,867 2,239 163,382 16,393 4,206 154,961 183,981 The average number of persons employed by the charitable incorporated organisation during the year was as follows: 2024 2023 Total employee8 Page 27
THE MARGINS PROJECT Icharitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 staff costs (contlnued) No employee received remuneration amounting to more than £60.000 in either year. The total employee benefits including pension conlributlons of the key management personnel were £49,147 (2023:£47,925). Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023: £Nil). Durlng the year, no Trustee expenses have been incurred (2023 - £Nil). 10. Tangible fixed assets Fixtures and rittings Cost or valuation At l April 2023 Disposals 16,900 (2,900) At 31 March 2024 14,000 Depreclatlon At 1 April 2023 Charge for the year On dlsposals 14,312 1,629 (2,900) At 31 March 2024 13.041 Net book value At 31 March 2024 959 At 31 March 2023 2,588 Page 28
THE MARGINS PROJECT Icharltsble Incorporated Organisatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Stocks 2024 2023 Finished goods and goods for resale 1,000 12. Debtors 2024 2023 Due within one year Trade debtors Amounts owed by group undertakings Other debtors 1,255 1,269 23,471 2,644 1,255 27.384 13. Creditors: Amounts falling due wlthln on8 year 2024 2023 Trade creditors Amounls owed to group undertakings other taxatlon and social security Other creditors Accruals and deferred income 9,514 89,205 4,511 4, 799 143,554 6,595 6,937 2,500 24,417 128,091 164,385 Page 29
THE MARGINS PROJECT (Charltable Incorporated Organlsation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Statement of funds Statement of funds - current yoar Balance at 31 March 2024 Balance at 1 April 2023 Transfers Inlout Income Expenditure Unrestricted funds Designated funds Fixed asset fund 959 959 General funds General Funds- all funds 3,014 109,174 (105,101) (959) 6,128 Total Unrestricted funds 3,014 109,174 (105,101) 7,087 Restrlcted funds Supported Employment Crisis Services 105,134 83,472 (93,134) 171,472) 12,000 12,000 188,606 (164.606) 24,000 Total of funds 3,014 297,780 1269.707) 31,087 Page 30
THE MARGINS PROJECT Icharltable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Statement of funds (contlnued) Statement of funds - prlor year Balance at 31 March 2023 Balance at l Apn'l 2022 Transfers in/out Income Expenditure Unrestrlct8d funds General Funds- all funds 61,261 95,623 (111, 141) (42, 729) 3.014 Restrlcted funds Core Marglns Manager Supported Employment Crisis Services 15,500 15,000 51,875 45,125 (15,500) (49,029) (60,575) (45,125) 34,029 8, 700 127,500 (170.229) 42, 729 Total of funds 61,261 223, 123 (281,370) 3,014 Purposes of restrlcted funds Crlsls Services Grants and donations in kind received towards the running of the Drop In serVIS and Winternight shelter. Supported Employment Programme Grants received towards the runnlng of the supported employment programme Maryins Manager Grants and donations received relating to funding management of The Margins Project Page 31
THE MARGINS PROJECT (Charitable Incorporated Organlsation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Analysls of n8t assets between funds Analysis of net assets between funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wlthin one year 959 134.219 (128,091) 959 158,219 (128,091) 24,000 Total 7,087 24,000 31.087 Analysls of nat assets between funds- prlor perlod Unrestricted ftinds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 2,588 2,588 164,811 164,811 (164,385) (164,385) Total 3,014 3,014 Page 32
THE MARGINS PROJECT (Charitable Incorporated Organlsatlon NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Ponsion commitments The Margins Project operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The penslon cost charge represents conlribulions payable by the charity to the fund. At the balance sheet date contributions of £444 (2023: £460) were payable to the fund and are Included in creditors. Page 33