| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe Charity, its Trustees and advisors | ||
| 2-4 | |||
| Trustees' report | |||
| Independent auditor's |
report | on the financial statements | 5-7 |
| Statement offinancial | activities | ||
| Balance sheet | |||
| Notes to the financial | statements | 10-1 |
| Trustees | N DSleep, Chair | ||
|---|---|---|---|
| M M Byrne, Trustee | |||
| A R Montgomery, | Trustee | ||
| S CSleep, Trustee | |||
| Charity number | 1155564 | ||
| Principal office | 1A Burnsall Street | ||
| London | |||
| SW3 3SR | |||
| Independent | auditor | Saffery LLP | |
| 71Queen Victoria | Street | ||
| EC4V48E | |||
| Bankers | C. Hoare %Co | ||
| 32 Lowndes Street | |||
| London | |||
| SW1X9HZ |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023 | 2023 | 2022 | ||
| Note | E | f | E | |
| Income from | 84,376 | 84,376 | 60,156 | |
| Investments | ||||
| Total income | 84,376 | 84,376 | 60,156 | |
| Expenditure on: Charitable activities |
2,410,542 | 2,410,542 | 3,607,013 | |
| Total expenditure | 2,410,542 | 2,410,542 | 3,607,013 | |
| Net expenditure before gains on investments Net gains on investments |
(2 326 166) (5,856,569) |
(2,326,166) (s,gse, se9) |
(3,546,857) 7,425,133 |
|
| Net movement in funds |
(8,182,736) | (8,182,736) | 3,878,276 | |
| Reconciliation offunds: Total funds brought forward Net movement in funds |
40,202,449 (8,182,736) |
40,202,449 (8,182,736) |
36324 173 3878 276 |
|
| Total funds carried forward | 32,019,713 | 32,019,713 | 40,202,449 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | f | f | |||||
| Fixed assets | |||||||
| Investments | 10 | 28,444,949 | 37,018,887 | ||||
| Non-current | assets | ||||||
| Programme | related | investments | 3,000,000 | 3,000,000 | |||
| 31,444,949 | 40,018,887 | ||||||
| Current assets | |||||||
| Debtors | 2,799 | 149,591 | |||||
| Cash at bank | and in | hand | 737,006 | 344,271 | |||
| 739,805 | 493,862 | ||||||
| Creditors: amounts | falling due within | ||||||
| one year | 12 | (165,040) | (160,300) | ||||
| Net current | assets | 574,765 | 333,562 | ||||
| more than one year | 13 | (150,000) | |||||
| Net assets excluding | pension asset | 32019714 | 40,202,449 | ||||
| Total net assets | 32,019,714 | 40,202,449 | |||||
| Charity funds | |||||||
| Restricted funds |
14 | ||||||
| Unrestricted | funds | 14 | 32,019,714 | 40,202,449 | |||
| Total funds | 32,019,714 | 40,202,449 |
| Analysis of | expenditure | expenditure | on charitable | on charitable | activities | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | ||||||||
| funds | funds | funds | funds | ||||||||
| 2023 | 2023 | 2022 | 2022 | ||||||||
| Governance | costs | 34,542 | 34,542 | 10,513 | 10,513 | ||||||
| Grants and | donations | made | 2,376,000 | 2,376,000 | 3,596,500 | 3,596,500 | |||||
| 2,410,542 | 2,410,542 | 3,607,013 | 3,607,013 | ||||||||
| 5. | Analysis of | Governance | costs | ||||||||
| 2023 | 2022 | ||||||||||
| F. | f | ||||||||||
| Audit and accountancy | fees | 15,600 | 10,000 | ||||||||
| Bank charges | 548 | 513 | |||||||||
| Investment | management | fees | 6,258 | ||||||||
| Irrecoverable | taxation | withheld | at source | 12,136 | |||||||
| 34,542 | 10,513 |
| Analysis ofexpenditure on charitable activities |
||
|---|---|---|
| 2023 | 2022 | |
| Barking &Dagenham Youth Zone (No, 1172247) |
250,00D | |
| Carlisle Youth Zone (No, 1134974) | 25,000 | 25,000 |
| Carneys Community (No. 1150650) |
50,000 | 50,000 |
| City Harvest (No. 1163055) | 200,000 | 200,000 |
| Climbing Out (No. 1145023) | 25,000 | 25,000 |
| Croydon Youth Zone (No. 1173107) | 100,000 | 500,000 |
| Cure EB(No. 1158672) | 1,000,000 | |
| Ebony Horse Club (No. 1116027) | 50,000 | 50,000 |
| Envision (No. 1095328) | 81,000 | 70,000 |
| Free to be Kids (No. 1165678) | 50,000 | 50,000 |
| Go Beyond (No, 1080953) | 50,000 | 50,000 |
| Harris Federation (No. 1120150) |
200,000 | 200,000 |
| Into Uni (No. 1118525) | 100,000 | |
| Listening Place (No. 1164739) |
100,000 | 100,000 |
| Myotubular Trust (No. 1137177) |
25,000 | 25,000 |
| Onwards &Upwards (No. 1194457) |
60,000 | |
| PYCP (No. SC003353) | 50,000 | 50,000 |
| SHiFT (No. 1191125) | 250,000 | 250,000 |
| Snow-Camp (No. 1101030) |
50,000 | 50,000 |
| Switch180 No. (1101030) | 450,000 | |
| The Queen's Commonwealth Trust (No. 1172107) |
100,000 | 100,000 |
| The Reach Foundation (No. 1129683) |
560,000 | |
| The Royal Foundation (No. 1132048) |
100,000 | |
| The Trussell Trust (No. 1110522) | 250,000 | |
| Other Scholarships | 1,500 | |
| 2,376,000 | 3,596,500 |
| Net gains on investments | 2023 | 2022 | |
|---|---|---|---|
| E | |||
| Revaluation ofinvestments |
(5,578,559) | 7,425,133 | |
| Profit/(loss) on disposal |
ofinvestments | (275,288) | |
| Profit/(loss) on currency |
revaluations | (2,722) | |
| (5,856,569) | 7,425,133 | ||
| Fixed asset investments | |||
| Listed | |||
| investments | |||
| Cost or valuation | |||
| At 1April 2022 | 37018887 | ||
| Additions | 498,907 | ||
| Disposals | (3,494,286) | ||
| Revaluations | (5,578,559) | ||
| At 31 March 2023 | 28,444,949 | ||
| Net book value | |||
| At 31 March 2023 | 28,444,949 | ||
| At 31 March 2022 | 37,018,887 | ||
| Debtors | |||
| 2023 | 2022 | ||
| Due after more than one year | |||
| Programme related investment |
3,000,000 3,000,000 |
3000000 3,000,000 |
|
| Due within one year | |||
| Other debtors | 2,799 | 149,591 | |
| 3002 799 | 3,149,591 |
| 12. | Creditors: Amounts | Creditors: Amounts | Creditors: Amounts | falling due | within | within | one year | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||||
| Accruals | and deferred income | 15,040 | 10,300 | ||||||||
| Accrued | grants | payable | 150,000 | 150,000 | |||||||
| 165,040 | 160,300 | ||||||||||
| 13. | Creditors: Amounts | falling due | after | more than | one year | ||||||
| 2023 | 2022 | ||||||||||
| f | |||||||||||
| Accrued | grants | payable | 150,000 | ||||||||
| 150,000 | |||||||||||
| 14. | Statement offunds | ||||||||||
| Current | year | ||||||||||
| Balance at | Balance at | ||||||||||
| 1April | Gains/ | 31March | |||||||||
| 2022 | Income | Expenditure | (losses) | 2023 | |||||||
| Unrestricted funds |
f | E | E | ||||||||
| General | Funds | —all funds | 40,202,449 | 84,376 | (2,410,542) | (5,856,569) | 32,019,713 | ||||
| Prior year | |||||||||||
| Balance at | Balance at | ||||||||||
| 1April | Gains/ | 31March | |||||||||
| 2021 | Income | Expenditure | (losses) | 2022 | |||||||
| Unrestricted funds |
E | F | E | ||||||||
| General | Funds | - all funds | 36,324,173 | 60,156 | (3,607,013) | 7,425,133 | 40,202,449 | ||||
| 15. | Analysis | ofnet assets between | funds | ||||||||
| Unrestricted | Total | Unrestricted | Total | ||||||||
| funds | funds | funds | funds | ||||||||
| 2023 | 2023 | 2022 | 2022 | ||||||||
| f | |||||||||||
| Fixed assets investments | 28,444,949 | 28,444,949 | 37,018,887 | 37,018,887 | |||||||
| Current | assets | 739,805 | 739,805 | 3,493,862 | 3,493,862 | ||||||
| Creditors due within | one year | (165,040) | (165,040) | (160,300) | (160,300) | ||||||
| Creditors due in more than one | year | (150,000) | (150,000) | ||||||||
| 29,019,714 | 29,019,714 | 40,202,449 | 40,202,449 |
| Reconciliation of net | movement | movement | in funds to net cash flow from operating | activities | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| F. | f | |||||
| Net income from the | year (as per | the Statement of Financial Activities) | (8,182,736) | 3,878,276 | ||
| Adjustments for: |
||||||
| Fair value gains and | losses | on investments | 5,856,569 | (7,425,133) | ||
| Dividends, interests |
and rents from investments | (84,376) | (60,156) | |||
| (Increase)/decrease | in debtors | 146,792 | (3,000,000) | |||
| Increase/(decrease) | in creditors | (145,260) | 307,870 | |||
| Foreign exchange differences | (2,721) | 71,634 | ||||
| Net cash used in operating | activities | (2,411,732) | (6,227,509) | |||
| Analysis ofcash and | cash | equivalents | ||||
| Z023 | 2022 | |||||
| Current account | 38,004 | 164,271 | ||||
| Deposit account | 19,800 | 180,000 | ||||
| Cash held with Killik |
(GBP) | 679,202 | ||||
| Total cash and cash | equivalents | 737,006 | 344,271 | |||
| Analysis of changes | in net | debt | ||||
| At 1 | April | At 31March | ||||
| 2022 | Cash flows | 2023 | ||||
| f | ||||||
| Current account | 164,271 | (126,267) | 38,004 | |||
| Deposit account | 180,000 | (160,200) | 19,800 | |||
| Killik (GBP) | 679,202 | 679,202 | ||||
| Total cash and cash | equivalents | 344,271 | 392,735 | 737,006 |