Charlty reglstratlon number 1160651 Company re8Sstratlon number 03284438 IEngland and Wales) DESIGN SOUTH EAST UMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DESIGN SOUTH EAST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees H Satchwell B Rogers S Willcox M Cook J Martin R Nazzari J Stockwell Secretsry CALamb Charity number 1160651 Company number 03284438 Re8iStered office 70 Cowcross Street London ECIM 6EJ Independent examlner TC Group Star House star Hill Rochester Kent MEI IUX 8anker5 Barclays Plc 62 Earl Street Maidstone Kent ME14 IPS
DESIGN SOUTH EAST LIMITED CONTENTS Page Trustees, report Independent examiner's report Statement of financlal actlvities io Statement of financlal position 11 Statement of cash flows 12 Note5 to the financlal statements 13-21
DESIGN SOUTH EAST LIMITED TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORn FOR THE YEAR ENDED 31 MARCH 2024 The trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of Design South East Limited (the company) for the year ended 31 March 2024. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. Constitution Design South East is a Company Limited by Guarantee governed by its Memorandum and Articles of Association dated 18 December 2014. It is re8lStered as a charity with the Charity Commission. Method of appolntment or electlon of trustees Directors are either 'A' or 'B' directors. 'A' directors are those appointed by 'A' members. 'A' members are currently-. Medway Council University of Greenwich Grave5ham Borough Council Each 'A' member may nominate one 'A' director, carried out in accordance with our Articles of Association. A'B, member is a member admitted a5 a 'B' member in accordance with the Article5 of Association. A 'B' director is any director appointed as a 'B' member. Anyone wishing to become a B director must make an application for membership and an appointment is subject to approval by a majority of the directors. When considerin8 applications the Board has regard to the requirement for any specialist skills on the board and 8eo8raphic representation, in addition to the understanding of and alignment with the objects of the company. Policies adopted for the indurtion and trainin8 of trustees New trustees undergo an orientation session to brlef them on their legal obligations under charity and companv law, the Charlty Commlsslon guidance on public benefit,. and to inform them of the content of the memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity During induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertakin8 of their role.
DESIGN SOUTH EAST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Organlsatlonal structure and decision making The board administers the charity. The board meets quarterly, or more frequently, if necessary. There is a finance subcommittee which also meets quarterly, or more frequently if required. A Chief Executive whose title is Director (though he is not a director for legal purposes} is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authorityj Wlthin terms of delegation approved by the trustees, for operational matters including finance, employment and programme related activity. Our objects are: l. To advance public education and to develop and Improve the skills and capabilities of people of all ages by encouraging the understanding of the arts, archltetture and the bullt environment,, 2. To promote soclal inclusion for the public benefit in particular those that are, or feel they are, excluded from society by helpin8 local people to participate in the improvement of the quality of their built environment Ibeing excluded from societyi or part of society, as a result of bein8 a member of a socially and economically deprived community or on the grounds of thelr soclal and economlc p051tionl; 3. To promote sustainable development for public benefit in particular best practice in the field of sustainable development. Sustainable development mean5 development which meets the needs of the present without compromising the ability of future generations to meet their own needs 4. To advance the education of the public in urban and rural regeneration by promoting best practice in the field of regeneration In areas of soclal and economic deprivation for the public benefit; 5. To help young people advance In Ilfe by developlng their skills in the art5, architecture and the built environment; and 6. To further such other charitable purposes (charitable under English lawl as the Directors see tit from time to time prlmarlly, but not excluslvely in the south of England.
DESIGN SOUTH EAST LIMITED TRUSTEES, REPORT (INCWDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Review of activities Our work this year has focused primarily on three of our objects; to develop and improve the skills and capabilities of people, to promote social inclusion and to promote sustainable development for public benefit. The majority of our activities have been delivered through on-location events, workshops, study tours. We have where possible used online platforms (where their use has not been detrimental to the activity) on sustainability grounds. Though design review remained our main activity thereby helping to promote sustainable development we have increased activities that promote social Inclusion, by establlshlng panels and forums to support public engagement in planning and design processes. Developing and improvlng the skllls and capabllltles of people We launched a new local authority design code network to provlde tralnlng and support for local authorlties In the 50Utheast who are developing or considering design codes. The network meets quarterly, with each session starting wlth expert speakers with the rest of the session providing an opportunity for officers to meet colleagues and to share knowled8e. We organised a study tour of the urban extension of Chilmington Green in collaboration with Ashford Borough Council to explore the delivery of the vision and design principle5 for this new community. Our 'Revitalising Rural Places, workshop explored the challenges and opportunSties associated with managing and revitalising rural places, including a revlew of best practices in rural master planning and placemaking. Our tirst weblnar in 2024 was broadcast on 23 January. Our guest speaker explored best practices in street design and drew on his experience working across the southeast. Promotlng social inclusion The Kingston Cltlzens, Panel, which we facilitated with officers at the Royal Borough of Kingston upon Thames earlier in 2023 was shortlisted for the London Plannlng Awards for'Best Community Engagement Outcomes,. With area-wide desl8n codes soon to becomlng a statutory requlrement, we supported local authorlties wlth strateglc advlce on how to develop design codes. We also trained officers and stakeholders in the design coding process, whlch Is predicated on effecttve communlty engagement. This work supported the in-house production of an area-wlde desl8n code for Runnymede Borough Council. We were also commissioned by a government department to carry out a short research project around the concept of 'provably popular design, in relation to engaging communities in design coding and planning processe5.
DESIGN SOUTH EAST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REpom ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Promoting sustalnable development for public benefit We continued to increase our emphasis on promoting sustainable development through our design review activities and made this a key factor in how we structured sessions. This was particu larly importanl in relation to larger urban projects, where we sought coherent sustainability strategies to underpin design development, and for specific mea5ure5 and actions, including the reuse of existing built form and the inclusion of sustainable urban drainage. On the major rural sites on which we were engaged we again promoted the importance of a sustainability strategy and commitment to sustainable travel and drainage and a zero carbon approach. To support this we delivered a training event to review the latest zero carbon developments being planned and delivered across the UK, and particularly the south east, in line with the government's 2050 target. We developed new design review panel on behalf of the London Borough of Bexley and Dover Dlstrlct Councll and we became the desl8n revlew partner for Thurrock Council. Our Kingston upon Thames and Brighton and Hove design review panels were refreshed in 2023 and continued to support the dellvery of sustalnab developments. We also created opportunitles to deliver activities that enabled us to engage wlth projects earlier in the planning process than deslgn review typically allows; at the visioning, strategy, policy- or plan-makin8 Sta8es of projects. We achieved this through design code support, ctrproduction, and community engagement activities. This early engagement enabled us to help clients and communities embed the principles of sustainable development at the formative stage of projects. We continued to embed Building for a Healthy Life principles into the end-to-end development proce55 for major sites in partnership with governmental and regional organisations that share our values and purpose across En8land. Durlng the 23-24 fi'nancial year we also planned a major conference that was successfully delivered in April 2024. With a theme of 'Planning for a Sustainable Future, the conference brought 150 people from the public and private sectors together to share knowledge on sustainable placemaking, collaborate on new approaches and reach agreement on the prlorlties for the 50Uth east. Through our climate quarterly, we rounded up important sustainability news and inspiring projects from the south east of England. In one edition we reflected on the need for climate adaptation and highlighted the work being done to drive forward decarbonisation and nature recovery. Going Concern After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational exlstence for the foreseeable future. For this reason, they continue to adopt the 80ing concern basis in preparin8 the fi'nancial statements. Further details regarding the adoption of the goin8 concern basi5 can be found in the Accountin8 Policies.
DESIGN SOUTH EAST LIMITED TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Financial review The charity achieved a surplus for the period; however, the charity experienced a slight decrease in income, which fell to £801,000 from £860,000 in the previous year12022-23}. This reduction was primarily due to reduced client demand, influenced by overall economic uncertainty. However, our costs were lower th budgeted for the period, which enabled the charity to deliver a surplus of £32,000 for the year, a significant improvement compared to the £71,000 deficit recorded in 2022-23. The reduction in costs was achieved through careful budget management and efficiency improvements. Specific areas where cost savings were realised included reduced administrative costs and renegotiation of contracts. Additionally, the charity implemented several cost-saving measures to our service delivery processes, without compromising the quality of our services. We consider the main risks facin8 the company that might impact on financial performance to be: Economlc recession and a downturn in development and housebuildin8. A change in government policy on planning generally, or speclfically on deslgn review, causing reduction in demand for our core service. To mltlgate these risks, we are diversifying our activities and therefore our sources of revenue. Reserves pollcv From 2023-24, the reserve level has been set at £175,(X)O. The trustees consider that reserves at this level ensure that, in the event of a significant drop in income, the charity can continue its current activities while exploring ways to ralse addStional Sncome. Our policy mandates maintaining a mlnimum reserve of £175,000. At the close of the fiscal year, we successfully maintained this level and continue to do so.
DESIGN SOUTH EAST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (cohrriNUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future perlods Our short-term objectives are aimed at addressing immediate needs within our communlty, improving operational efficiency, and enhancing our service delivery. Specific short-term goals include: Continued diversification: We will increase our range of activities by engaging with new and existing client and stakeholder groups. Increased Efficiency.. We will streamline our administrative processes to reduce our costs Our long-term objectives are designed to ensure the sustainability and growth of our charity, while also expanding our impact on the communities we work In. These objectives include.. Sustainable growth: Over the next five yeats, we aim to grow and diversify our fundingsources and activities. Stregthening our capacity., To support our long-term growth we are focused on building our Internal capacity. Th15 Includes investing in staff development, Improvlng our operating processes and upgrading our IT infrastructure to better support our operations. To achieve these obJectlve5, the following key activities were planned and executed: Stakeholder Enga8ement: We will conduct surveys and meet stakeholder groups to better understand their needs and refine our service offerings accordingly. Monitoring and Evaluation.. We will implement a robust monitoring and evaluation framework to track the progress of our initiatives. Partnership Building: We will establish new partnerships with local authorities and 8overnment departments Staff Training and Development: Continuous professional development will be provided to our staff to ensure they have the skills necessary to implement our strate8ic objectives effectively. Past experience has influenced our plans and decisions in terms of: The importance of respondlng rapldly to a changin8 operating envlronment, The need for effective prlclng of our activities. The need for Investment in 5Y5tems and processes. The value of beSng responsive to feedback from stakeholders.
DESIGN SOUTH EAST UMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Arrangements for setting pay of key personnel All employees of Design South East are subject to annual appraisal and mid-term reviews. In the case of the Chief Executive the appraisal is conducted wlth the Chalr of the Board. The remuneration committee comprises three directors of the company, advised by the Chief Executive. Pay rises for staff were agreed by this committee. The pay of the Chief Executive was also agreed by the committee but without the presence of the Chief Executive. Decisions are reached in in accordance with our remuneration policy, includin8 factors such as performance as judged by the appraisal process, and the financial position of the company. Structure, governance and management The charity is a company limited by guarantee. The trustees, who are also the dlrectors for the purpose of company law, and who served durlng the year and up to the date of signature of the financial statements were: J J Armltt H Satchwell B Condon B Ro8ers Swillcox M Cook J Martin Avon Bradsky R Nazzari L Archer J Stockwell (Resl8ned 29 June 20231 {Resi8ned 16 October 20231 {Resi8ned 4 March 2024) IRes18ned 17 April 2024) (Appointed 12 July 20231 None of the trustees has any beneficlal interest in the company.
DESIGN SOUTH EAST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees, responslbllltfes statement The Trustees (who are also directors of Design South East Limited for the purposes of company lawl are responsible for prepa ring the Trustees, report and the fi'nancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each fi'nancial year. Under Company law the Trustees must not a pprove the h. nancial statements unless they are satisfied that they give a true and fair view of the situation of the charitable company and of the incoming resources and application of reurCes, including the income and expenditure, of the charitable company for that period. I n preparlng ihese financial statements, the Trustees are requ ired to: • select suitable accountlng pollcies and then apply them consistently,. observe the methods and prlnciples In the Charltles SORP.. make judgments and accountin8 estimates that are reasonable and prudent,, state whether applicable UK Accounting Standards have been followed, subject to any material departures d15closed and explained in the financial statements; prepare the financia I statement5 on the going concern basis unless it is ina ppropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevents'on and detection of fraud and other irregularities. The trustees, report was approved by the Board of Trustees. B Rogers .zt..Qcto.ty.o.r 2.Q.24.....
DESIGN SOUTH EAST LIMITED INDEPENDEMf EXAMINER'S REPORT TO THE TRUSTEES OF DESIGN SOUTH EAsf LIMITED I report to the trustees on my examination of the financial statements of Design South East Limited (the charity) for the year ended 31 March 2024. Responsibilities and ba515 of report A5 the trustees of the charity land also its directors for the purposes of company law) you are rspon5ible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements 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 ofthe charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commlssion under section 14515)Ibl of the 2011 Act. Independent examiner's Statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body Ilsted In section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ACCA, whlch Is one of the Ilsted bodles. I have completed my examlnatton. 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 record5 were not kept in respect of the charity as requlred by section 386 of the 2006Act; or the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of sect70n 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter consldered as part of an independent examlnation; or the financlal statements have not been prepared In accordance wlth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charltles applicable to charitles preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no other matters in connection with the examination to whrh attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. S Meah FCCA On behalf of TC Group Star House Star Hill Rochester Kent MEI IUX Dated: ....
DESIGN SOUTH EAST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlrted funds 2024 Unyestrlcted funds 2023 Note5 Income from: Charitable activities Investments 8(X),957 5,684 858,561 1,543 Totsl Income 806,641 860,104 Expenditure on: Charitable activities 774,343 931,179 Total expenditure 774,343 931,179 Net Income/lexpendlture) and movemerrt in funds 32,298 171,075} Reconciliatlon of funds: Fund balances at l April 2023 178,629 249,704 Fund balances at 31 March 2024 210,927 178,629 The statement of financlal activities includes all gains and losses reco8nised In the year. All Income and expenditure derlve from continuln8 activities. 10-
DESIGN SOUTH EAsf LIMITED STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2024 2024 2023 Notes Fljted assets Tangible assets io 1,760 5,450 Current assets Debtors Cash at bank and in hand 11 143,710 267,106 115,723 251,551 410,816 367,274 Credltors: amount5 falllnz due wlthln one year 12 {201,6491 {194,0951 Net current assets 209,167 173,179 Total assets less current liabilities 210,927 178,629 Net assets excludlng penslon Ilablllty 210,927 178,629 The funds of the charlty Unrestricted funds 210,927 178,629 210,927 178,629 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companles Act 2006 with respect to accountin8 records and the preparation of h'nancial statements. The member5 have not required the company to obtain an audit of its financial statements forthe year In question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companie5 subject to the small companies regime. 23 October, 2024 The financial statements were approved by the trustees on ..,....................., B Rogers Company registration number 03284438 (En8land and Wales) 11
DESIGN SOUTH EAST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCM 2024 2024 2023 Notes Cash flows from operatlng attivities Cash generated from operations 17 9,871 51,529 Investlng activltles Purchase of tangible fixed assets Investment Income recelved {3,321) 1,543 5,684 Net cash 8enerated from/lused In) investln8 artlvltles 5,684 11,778) Net cash used In flnanclng actfvitles Net increase In cash and cash equlvalents 15,555 49,751 Cash and cash equlvalents at beginnin8 of year 251,551 201,800 Cash and cash equlvalents at end of year 267,106 251,551 12-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty Information Design South East Limited is a private company limited by guarantee incorporated in England and Wa les. The registered office is 70 Cowcross Street, London, ECIM 6EJ. 1.1 Accountlng convention The financial statements have been prepared In accordance with the charity's Igoverning document], the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102") and the Charities SORP "Accountin8 and Reporting by Charlttes: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102)" (effective l January 20191. The charity is a Public Benefit Entity as defi'ned by FRS 102. The financial statements are prepared in sterling, which Is the functional currency of the charlty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal a ounting policies adopted are set out below. Design South East Limited meet5 the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognlsed at historical cost or transaction value unless otherwise stated in the relaiant accounting policy. The company'5 functional and presentational currency Is GBP. 1.2 Going concern At the time of approvlng the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accountin8 in preparin8 the financial statements. 1.3 Charitable funds General funds are unrestrlcted funds whlch are avallable for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for the other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charges against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investrnent income, gains and losses are allocated to the appropriate fund. 1.4 Income All income is recognised once the charity ha5 entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. 13-
DESIGN SOUTH EAST UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued) Income tax recoverable in relation to investment income is recognised at the time the investment ncome is receivable. Grants received from County Council and Medway Council and are accounted for on receivable basis, Project income is recognised when the company obtains the right to consideration under the terms Lrf the individual contract. Where the right to consideration occurs before the service is invoiced the incrjme is accrued. When the right to consideration occurs after the service is invoiced the income is deferred. 1.5 Expendlture Expenditure Is recognlsed once there is a legal or constructlve obli8atlon to transfer economic befit to a third party, it is probable that a transfer of economic benefits will be required in settlement, andthe amount of the obligation can be measured reliably. Expendlture Is classlfied by activity. The costs of each activity are made up of the total of dIrt costs and shared costs, includin8 SUPPOrt costs involved in undertaking each activity. Direct costs attributaEle 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 activity are apportioned between those actwitie5 on a basi5 consistent with the use of resource5. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. 1.6 Tanglble fixed assets Tangible fixed assets are Initially measured at C05t and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreclation Is reco8nised so as to wrlte off the cost or valuation of assets less their residual values over their useful Ilves on the following bases: Fixtures and fittings Computer Equipment 33% stralght Ilne 33% strai8ht line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with bank5, Other short-term liquid Investments with original maturitie5 of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowin85 in current liabilities. 14-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles {Contlnued) 1.8 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its fi'nancial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrurnent. Flnanclal assets and Ilabllltles are offset. wlth the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention tosettle on a net basis or to realise the asset and settle the liability simultaneously. Baslcfinanclal assets Basic financlal assets, whlch Include debtors and cash and bank balance5, are Initially measured transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction Is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified a5 receivable within one year are not amortised. 8oslcfinanclaTI Ilabllltles Basic financial liabilitie5, includin8 creditors and bank loans are initially recognised at transaction price unles5 the arrangernent constitutes a financing transaction, where the debt instrument is measured at the psent value of the future payments discounted at a market rate of interest. Financlal liabllities classified as payable within one year are not amortised. Debt Instruments are subsequently carried at amorti5ed cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired In the ordin¥y course of operations from suppliers. Amounts payable are classlfied as current liabilities if payment is due withln one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognlsed initially at transactton prlce and subsequently measured at amortised cost using the effective interest method. 1.9 Company status The company is a company Ilmlted by guarantee. The members of the company are the Trustees named on page l. In the event of the company bein8 wound Upi the liability in respect of the guarantee is linited to £1 per mernber of the company. 1.10 Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 15-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Unrestricted funds 2024 Unrestricted funds 2023 All charitable activitie5 800,957 858,561 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 5,684 1,543 Charitable activities Unrestricted Unrestricted funds funds 2024 2023 Panel fees Panel expenses Venue hlre Catering design review Wages and salaries National insurance Pension cost Seminars and conference fees 168,466 19,450 729 238,341 15,639 2,223 2.782 387,951 37,854 10,448 2,173 335,754 29,841 8,089 3,639 565,968 697,411 Share of sUPPOrt costs (see note 5) Share of governance costs (see note 5) 206,955 1,420 232,353 1,415 774,343 931,179 18-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs 2024Support costs Governance costs 2023 Consultan Premises costs Travel & entertainment Office costs Accountancy fees Professional fees Marketing and communications Bad debts Wages and salaries National insurance Pension costs Depreciation 36,257 26,352 11,644 25,971 3,225 6,338 36,257 26,352 11,644 25,971 3,225 6,338 25,917 34,168 8,852 45,594 2,917 8,506 25,917 34.168 8,852 45,594 2,917 8,506 762 3,420 78,259 9,716 1,321 3,690 762 3,420 78,259 9,716 1,321 3,690 4,045 4,045 86,761 9,257 1,452 4,884 86,761 9,257 1,452 4,884 Independent examiners, remuneration 1,420 1,420 1,415 1,415 206,955 1,420 208,375 232,353 1,415 233,768 Analysed between Charitable activities 206,955 1,420 208,375 232,353 1,415 233,768 Net movement In funds 2024 2023 The net movement in funds is stated after charging/lcrediting): Depreciation of owned tangible fixed assets 3,690 4,884 Trustees None of the trustees {or any persons connected with them) received any remuneration or benefits frc¥n the charity during the year. 17-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL STATEMENTS {coMfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Director Head of Programmes Programme Coordlnator Pro8ramme Admlnlstrator Events and Marketing Coordinator Finance Mana8er Head of Servlce Dellvery Design Advlsor Total 12 li The number of employees whose annual remuneration was more than £60,000 is as follows.. 2024 Number 2023 Number In the band £70,001- £80,000 In the band £60,000- £70,000 The key management personnel of the charity comprise, the Chief Executive Officer, Operations Manager and the Head of Programmes. The total employee benefi'ts of the key management personnel of the Charity were £189,78112023 - £151,586). Taxation The charity is exempt from taxation on its attivities because all its income 15 applied for charitable purposes. 18-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Tanglble flxed assets FIMtur•s and fittlngs Computsr Equiprnent Totsl Cost At l April 2023 1,360 31,275 32,635 At 31 March 2024 1,360 31,275 32,635 Depreciation and Impalrment At l Aprll 2023 Depreclation charged In the year 1,360 25,825 3,690 27,185 3,690 At 31 March 2024 1,360 29,515 30,875 Carrylng amount At 31 March 2024 1,760 1,760 At 31 March 2023 5,450 5,450 11 Debtors 2024 2023 Amounts falllng due wfthln one year: Trade debtors Other debtors Prepayments and accrued Income 133,128 760 9,822 102,854 300 12,569 143,710 115,723 12 Creditors: amounts falling due within one year 2024 2023 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 40,022 85,455 17,524 1,172 57,476 37,588 62,675 29,048 2,220 62,564 13 201,649 194,095 19-
DESIGN SOUTH EAST LIMITED NOTESTO THE FINANCIAL STATEMENTS (coNfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Deferred income 2024 2023 Other deferred income 85,455 62,675 Deferred Income is Included in the financlal statements as follows: 2024 2023 Deferred income Is Included withln: Current liabilities 85,455 62,675 Movements in the year.. Deferred income at l Aprll 2023 Released from previous period5 Resources deferred in the year 62,675 162,675) 85,455 13,145 113,145) 62,675 Deferred income at 31 March 2024 85,455 62,675 14 Unrestrlcted funds The unrestrlcted funds of the charity comprlse the unexpended balances of donations and 8rants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aslde out of unrestritted funds by the trustees for specific purposes. At l Aprll 2023 Incomlng resources Resources At 31 March expended 2024 General funds 178,629 806,641 1774,343) 210,927 Previous year: At l Aprll Z02Z Incoming resources Resources At 31 March expended 2023 General funds 249,704 860,104 1931,179) 178,629 -20-
DESIGN SOUTH EAST LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Related party transactions During the year under review the following transactions took place with the company Tibbalds Planning and Urban Design Ltd, a company in which H Satchwell is a Director and shareholder; Sales of £720 (2023- £600) All transactions were at arms, length and as at 31 March 2024 £Nil12023 - £Nill was due from Tibbalds Planning and Urban Design Ltd. 16 Analysis of changes in net funds The charity had no material debt durin8 the year. 17 Cash generated from operations 2024 2023 Surplusl{deficlt) for the year 32,298 {71,0751 Adjustments for: Investment incorne recognised in statement of financial activities Depreciation and impairment of tangible fixed assets {5,6841 3,690 11,543) 4,884 Movements in working capital: Ilncreasel/decrease in debtors IDecreasel/increase in creditor5 Increase in deferred income 127,9871 115,2261 22,780 60,303 9,430 49,530 Cash generated from operatlons 9,871 51,529 21