## **REPORT OF THE DIRECTORS AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **FOR**
## **BANANA ENTERPRISE NETWORK LTD**
## **BANANA ENTERPRISE NETWORK LTD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
||Page|
|---|---|
|**Legal and Administrative Information**|1|
|**Trustees Report**|2-5|
|**Independent Examiner’s Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9-13|
**BANANA ENTERPRISE NETWORK LTD**
## **LEGAL & ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2023**
## **CHARITY NAME:** Banana Enterprise Network Ltd
**CHARITY REGISTRATION NO:** 1161408. The Charity was registered with the Charity Commission on 24 April 2015
**COMPANY REGISTRATION NO:** . 09133991 (England and Wales)
**TRUSTEES & DIRECTORS:** N Lee (Chair) N Tyldesley K Morton S Addison B Goulding S Kaneen (appointed 10 March 2023) P Richardson (appointed 23 March 2023) P Flitcroft {resigned 22 April 2022) J Clarke (resigned 8 March 2023)
## **COMPANY SECRETARY** : C Allman
**REGISTERED OFFICE** : Banana Enterprise Network Ltd 14 Reedley Drive Worsley Manchester M28 7XR **INDEPENDENT EXAMINER** : Greystone LLC Chartered Accountants 15 St. Georges Street Douglas Isle of Man IM1 1AJ
1
## **BANANA ENTERPRISE NETWORK LTD**
## **ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees, who are also the directors and the members of the company, present their annual report and the financial statements of the Banana Enterprise Network Ltd (“the Charity”) for the year ended 31 March 2023.
## **STRUCTURE, GOVERNANCE & MANAGEMENT**
## **Governing Document**
The Charity is a company limited by guarantee. It is governed by the Memorandum and Articles of Association. The company became a registered charity on 24 April 2015.
## **Trustees**
As required by the Articles of Association, at the Annual General Meeting on 20th May 2023 the nearest number to one third of Trustees, currently two were required to retire by rotation. S Addison and N Tyldesley therefore retired. S Kaneen and P Richardson also retired as required at their first AGM. S Addison, N Tyldesley, S Kaneen and P Richardson were subsequently re-elected. New Trustees are appointed by the existing Trustees and retire initially at the following AGM. Trustees usually meet a minimum of three times a year and are responsible for the day to day management of the charity. There is frequent communication between the Chair and the other Trustees in between meetings. New Trustees have an initial meeting with the Chair of Trustees and following their appointment are given an induction pack which includes the Memorandum and Articles of Association, the most recent financial statements and the Charity Commission guidance document “The Essential Trustee”. The charity’s insurance policy includes indemnity insurance for the Trustees.
## **Staffing**
The charity has only two paid staff, the CEO (full time) and the admin/accounts officer (part time). The CEO’s job encompasses the roles of Chief Executive, Bid Writer, Community Engagement Officer Communications/Social media/IT officer, Business Adviser, Project Manager. The Trustees wish to thank Jayne Allman for undertaking the many roles successfully and appreciate the long and often unsocial hours she works to enable the charity meet its objectives. Christopher Allman is admin/accounts/heritage research officer and works many more hours than he is required to do by the charity.
The Trustees realise that this staffing situation is not sustainable in the long term and they believe that if successful in taking over of the Grade II listed building Rock Hall in Moses Gate Park as the charity’s base, (as described later in this report) it would allow access to funding and revenue to support further staffing roles. The Trustees also fully recognise the contribution made by our volunteers to fundraising and activities in the Park.
## **Risk Assessment**
The Trustees have identified and reviewed the major risks to which the Charity is exposed. They have taken steps to control and reduce those risks.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and Aims and Public Benefit**
On 20 May 2022, following approval by the Charities Commission, Clause 4 of the company’s Articles of Association was changed by Special Resolution to read as follows :
4. The objects of the charity are:
4.1 The prevention or the relief of poverty by (but without prejudice to the generality of the foregoing) providing or assisting in the provision of education, training and other support designed to enable individuals to generate a sustainable income.
4.2 The relief of unemployment for the public benefit in such ways as may be thought fit including assistance to find employment.
2
4.3 The preservation, restoration, maintenance, repair and improvement of Rock Hall Farnworth, a Grade II listed building and to advance the education of the public in the historical architectural and constructional heritage that exists in and around the said building.
4.4 Such other exclusively charitable purposes as the trustees of the charity shall determine from time to time.
Our CEO Jayne Allman, worked on the Governments NEA (New Enterprise Allowance) programme as a Business Advisor and saw a gap for essential skills training and pre-start up support particularly focussed towards people facing additional barriers to work. This gap in provision and the number of business failures drove her to the decision to set up a social enterprise in July 2014 (we became a charity in April 2015). At the time of writing this report we have supported 1881 unemployed people since launching in 2015.
The Charity operates in deprived areas and communities in Salford and Bolton and delivers free community activities, Heritage Building related projects and business advice and support.
Since 2022, the charity has been concentrating on our Rock Hall project (which we started in January 2020). Through this project we have been providing health and wellbeing educational programmes and other outdoor community activities to help people and their families to reduce anxiety, and be more physically active and reduce social isolation.
The charity began to investigate the possibility of taking over Rock Hall in Farnworth. This property is owned by Bolton Council and stands in Moses Gate Country Park. The Hall stands next to the site of Farnworth Paper Mill which closed in 1883. The owner and later the managers of the Paper Mill lived in Rock Hall. The Hall was subsequently used for Council housing but in 1982 it was reduced in size and turned into a visitor centre and HQ for the Croal Valley Park Rangers Service. In 2014 the Park Rangers were disbanded and the Hall has been empty since then. The object for the charity is to restore the hall to its original size and create a multi-purpose venue including a café, function rooms, heritage room and the hall would also become a centre once again for activities in the Park.
## **ACHIEVEMENTS AND PERFORMANCE**
## **1. Lottery Awards for All £9999 – Nature Rocks Project 2021-2022**
The award from the National Lottery Community Fund received November 2021 involved us working with various professional partners to deliver free community and heritage themed activities in Moses Gate Country Park and we provided fully funded activities for more than 50 people during the project.
The project delivered:
- Nature/heritage themed sessions (both for adults and children) including scavenger hunts, practical
- nature sessions such as Himalayan Balsam bashing and maintenance, making a positive impact on the environment and particularly for nature.
- Heritage themed walks advising on local history, plant identification (e.g. identify dangerous
- Hogweed)
- Heritage themed Quizzes
- Two Children’s outdoor Puppet shows
- Litter Picking/recycling education sessions
## **2. Bolton CVS Project**
Our Charity’s bid to Bolton CVS for the Bolton’s Fund Supporting Social Enterprise grant in December 2021 was successful. We received £14,992 for the development and delivery of community activities and creation of a dedicated Rock Hall Farnworth website. This project was completed by December 2022.
## **3. Security Industry Authority (SIA) grant - £4619**
In March 2022 we successfully applied to the SIA for funding to provide FREE Security Guard Training courses for up to 4 people and 250 personal attack alarms etc. This was completed successfully
## **4.National Lottery Community Fund – Adventure Rocks**
In November 2022 we successfully bid for funding to deliver a project providing an outdoor programme of 25 sessions heritage/wellbeing themed activities for up to 120 low income families/single parents/Older people (50+) at Moses Gate Country Park (MGCP). Our activities made a difference by having a positive impact on beneficiaries’ feelings of wellbeing/self- confidence, and helped to increase their skills.
3
We began delivering sessions in January 2023. We have been delivering some sessions ourselves but we are also have been working with specialist providers (Bolton Conservation Volunteers for example) to jointly deliver some of the sessions.
The project is delivering the following:-
- A Bushcraft session
- Practical/skills based Nature sessions such as Himalayan Balsam Bashing, Hedge and wildflower garden maintenance
- Heritage themed walk (completed January 2023)
- Community themed sessions (sports, art, crafts)
- Litter picking
- Archery and/or axe throwing sessions.
## **5. Various funded projects beginning April 2023**
At the time of writing this report, our Charity has successfully applied for funding to deliver various projects connected to our Rock Hall project in Farnworth between April 2023 and August 2024.
The report was required as part of our funding bid submitted jointly with Bolton Council to the National Lottery Heritage Funding in May 2023. It was our charity’s 2[nd] attempt at securing the funding we require to save, acquire and expand Rock Hall. The bid was successful!
## **6. Government Funding – Community Ownership Fund (COF) December 2022**
In July 2022 our Charity submitted an Expression of Interest (EOI) to the COF fund and was invited to submit a full bid in August. In December 2022 we were informed that we had been successful and had been awarded the full amount of £295,000 for the Rock Hall project. This was very exciting for our charity! The project began in December. Jayne Allman was seconded into the role of Project Operations Manager in January 2023 and the project gathered pace, progressing successfully until early June 2023 when the project was “paused” pending the result of our £4million National Lottery Heritage Fund bid. The reason for this is that for the next stage of the project the COF team require our charity to have additional “match funding” that was not as stated on the original grant agreement from the Government.
Jayne Allman agreed not to be paid for the month of July to help the charity. The pausing of the project has left Jayne Allman without her paid job as Operations Manager for that project. The COF team have been waiting for our National Lottery Heritage Fund bid result and now that we have been successful (September 14[th] 2023), we now have their required match funding and the project will be resumed.
## **7. Rock Hall Revival Project**
We submitted our 2[nd] funding bid to the National Lottery Heritage Fund in May 2023 for almost £4million, following our successful Expression of Interest application in March 2023. The bid was considered at the 13[th] September 2023 committee meeting.
The feedback from the NLHF Committee in 2022 (our first attempt) was that they were very impressed with our Charity, the amount of work we had done and the level of community engagement and support etc. They also recognised the amazing journey we have been on since we started our Save Rock Hall project in 2020. The bid was strong and we were close to being funded. However, the NLHF Committee requested more clarity about how the project would be delivered in partnership with Bolton Council.
Our team met with the Leader of Bolton Council and relevant Officers to discuss the NLHF decision and the Council restated their wholehearted support for the project. A Partnership Agreement was agreed and we have been working together again to meet the requirements of the NLHF.
The NLHF Committee “strongly urged” us to reapply as part of their feedback to us last year, so this is what we did in May 2023. There were no guarantees of success (given the competitive nature of the process), and both our Trustees and the Council agreed that it would be our final attempt at applying to NLHF.
However, on 14[th] September 2023, we received the amazing news that the National Lottery Heritage Fund had accepted our joint funding bid with Bolton Council and jointly awarded us funding of £466,662 towards the £725,000 needed to complete the Development stage of the project. Our Charity had raised £295,000 towards it from the COF fund, a small proportion of which had been spent.
4
Once the Development stage is completed successfully, we can apply for the remaining £3.2million to complete the Delivery Phase of the project. It is a huge achievement for our small Charity after working almost 4 years on our project to save Rock Hall.
## **FUTURE PLANS**
The charity constantly seeks to identify gaps in provision of services in order to meet community “needs” and help prevent poverty. We also seek funding/commercial opportunities to enable us to capacity build and grow. Following Covid19 and the cost of living crisis we have seen a further decline in unemployed people wishing to learn about self-employment, so our Trustees are continuing to explore various options at the moment.
Our Rock Hall project will provide a massive opportunity for our Charity to grow, create jobs, provide much needed facilities/activities for the community and generate income which we can use to support local people in need. We are therefore still focussing more on heritage and health and wellbeing activities for the foreseeable future whilst also exploring other commercial income ideas such as developing an outdoor activities centre too.
## **FINANCIAL REVIEW**
## **Reserves Policy and Going Concern**
The Trustees policy is to maintain unrestricted reserves of at least 12 months basic running expenses. The policy is reviewed annually. At the year end the unrestricted reserves had fallen to £18,562 which is approximately 5.5 months basic running expenses due mainly to the ongoing costs to the charity arising from the re-application to the NLHF. However the Trustees are confident that over a period of time the reserves can be raised back to the 12 months level.
## **RESPONSIBILITIES OF TRUSTEES**
The Charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any
- material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to
- presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Part 15 of the Companies Act 2006 relating to small companies. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **APPROVED ON BEHALF OF THE BOARD:**
N Lee – Chair of Trustees Date: 22 December 2023
5
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
## **OF BANANA ENTERPRISE NETWORK LIMITED**
I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 7 to 13.
## **Respective responsibilities of Trustees and examiner**
The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act
- follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to our attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention;
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Rob Patterson FCA
## **Greystone LLC**
## **Chartered Accountants**
15 St. Georges Street, Douglas, Isle of Man
Dated : 22 December 2023
6
## **BANANA ENTERPRISE NETWORK LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
## **(including the Income and Expenditure Account for the year)**
|||Year
Year|
|---|---|---|
|||ended
ended|
||31.3.23|31.3.23 31.3.23 31.3.22 31.3.22 31.3.22|
||Notes Unrestricted|Restricted Total Unrestricted Restricted Total|
||Funds|Funds Funds Funds Funds Funds|
||£|£ £ £ £ £|
|**INCOME FROM**|||
|Donations|2,983|2,983 3,545 3,545|
|Interest received|20|20|
|**Charitable Activities**|||
|Other income|990|990 6,362 6,362|
|Grants and contracts|4 1,950|30,784 32,734 1,050 144,250 145,300|
|**TOTAL INCOME**|5,943|30,784 36,727 10,957 144,250 155,207|
|**EXPENDITURE ON**|||
|Charitable activities|5 37,457|37,389 74,846 7,694 140,642 148,336|
|**TOTAL**EXPENDITURE|37,457|37,389 74,846 7,694 140,962 148,336|
|**NET INCOME/EXPENDITURE**(31,514)||(6,605) (38,119) 3,263 3,608 6,871|
|**FOR THE YEAR**|||
|Total funds brought forward 11 51,008||14,605 65,613 47,745 10,997 58,742|
|**TOTAL FUNDS CARRIED FORWARD**19,494||8,000 27,494 51,008 14,605 65,613|
The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities
The notes on pages 9 to13 form part of these financial statements.
7
## **BANANA ENTERPRISE NETWORK LTD**
## **BALANCE SHEET AT 31 MARCH 2023**
|Notes
**FIXED ASSETS**
Tangible fixed assets 6
Investments 7
**CURRENT ASSETS**
Debtors
8
Cash at bank
**CREDITORS**
Amounts falling due within one year 9
**NET CURRENT ASSETS**
**CREDITORS**
Amounts falling due after more 10
than one year
**TOTAL NET ASSETS**
**ACCUMULATED FUNDS**
Funds
11
**TOTAL FUNDS**
|31.3.23 31.3.22
Unrestricted Restricted
Total Total
Funds
Funds Funds Funds
£
£
£
£
932 932 17,243
2 2 2
934 934 17,245
2,700
17,604 20,304 1,756
28,109
695 28,804 61,672
30,809
18,299 49,108 63,428
5,708
10,299 16,007 6,066
25,101 8,000 33,101 57,362
6,541
6,541 8,994
19,494 8,000 27,494 65,613
19,494 8,000 27,494 65,613
19,494
8,000 27,494 65,613|
|---|---|
||
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. The financial statements were approved by the Board of Trustees on 22 December 2023 and were signed on its behalf by:
N Lee – Director
The notes on pages 9 to 13 form part of these financial statements
8
## **BANANA ENTERPRISE NETWORK LTD**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1** . **ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard (FRS 102), and on a Going Concern basis, and with the Charities Act 2011.
## **Group Accounts**
Consolidated accounts have not been prepared on account of the fact that the group qualifies as “small” under the Companies Act.
## **Fund Accounting**
Unrestricted funds can be used in accordance with the objectives of the charity at the discretion of the trustees. Restricted funds comprise funds received for specific project purposes. A Designated fund has been created for tangible fixed asset purchases.
## **Income**
All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
## **Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Fixed Assets**
The company has purchased office and computer equipment but does not capitalise individual items of equipment costing less than £1,250.
Depreciation is recognised so as to write off the cost of an asset over its useful life as follows: Equipment - 20% straight line
Motor vehicle - written down to the value of the sale proceeds obtained in May 2022
## **Taxation**
The charity is exempt from corporation tax by reason of its charitable status.
## **2. NET INCOME**
The net income is stated after charging:
|
Trustee remuneration (note 3)
Wages and salaries
Independent Examiner’s remuneration
|Year ended
Year ended
31.3.23
31.3.22
£ £
- 44,000
39,033 5,422
540 420|
|---|---|
9
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023– continued**
## **3. TRUSTEES REMUNERATION AND EXPENSES**
Trustee’s remuneration of £nil (2022 £34,833) was paid to J E Allman and was paid for the organisation, development and presentation of training courses, for 1 to 1 client support and also for funding bid writing, community engagement work, managing and coordinating heritage and health and wellbeing projects. C A Allman was paid £nil (2022 £9,167) for accountancy work, for bookkeeping training courses and assisting with heritage and wellbeing projects. These two salaries were approved by the five independent Trustees at that time. No other Trustees received any remuneration or benefits. J E Allman was reimbursed travel expenses of £nil (2022 £643) which were incurred in the performance of her duties. Other trustees were reimbursed expenses totalling £nil (2022 £nil).
## **4. GRANTS & CONTRACTS RECEIVABLE**
|**4. GRANTS & CONTRACTS RECEIVABLE**|||||
|---|---|---|---|---|
||||Year|Year|
||||ended|ended|
||||31.3.23|31.3.22|
||Unrestricted|Restricted|Total|Total|
||Funds|Funds|Funds|Funds|
||£
|£
|£
|£|
|National Heritage Lottery||||99,600|
|Community Ownership fund||17,605|17,605||
|Bolton Community & Voluntary Services||630|630|15,192|
|Awards for All Lottery||9,999|9,999|9.999|
|Security Industry Association||||4,619|
|Cycling UK||||2,999|
|Architectural Heritage Fund||2,050|2,050||
|Miscellaneous contracts|1,950|500|2,450|2,550|
|Government grant income (furlough scheme)||||10,341|
||1,950|30,784|32,734|145,300|
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## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 – continued**
## **5. EXPENDITURE**
Year Year
|**5. EXPENDITURE**
|||Year|Year|
|---|---|---|---|---|
||||ended
|ended|
||||31.3.23|31.3.22|
||Unrestricted
|Restricted|Total
|Total|
||Funds
|Funds
|Funds
|Funds|
||£|£
|£|£|
|**Charitable Activities**|||||
|Trustees salaries|||-|44,000|
|Wages and salaries & NI|22,756|16,277|39,033|5,701|
|Heritage activity providers||5,561|5,561|43,505|
|Professional fees|5,150|5,150|10,300|22,951|
|Activity equipment and materials||4,998|4,998|11,022|
|Catering van expenses|185||185|7,009|
|Event costumes and decorations||1,519|1,519|1,676|
|Event refreshments||1,746|1,746|1,517|
|Heritage items|2,788|695|3,483|1,278|
|Repairs and renewals|314||314|161|
|Computer expenses|1,328|258|1,586|3,260|
|Training course expenses|528||528|505|
|Sundry expenses|1,080||1,080|742|
|Telephone|231|1,159|1,390|434|
|Advertising and promotion|||-
|1,514|
|Post & stationery|387
|26|413
|228|
|Independent Examiner
|540
||540
|420|
|Travelling|1,236||1,236|657|
|Loan interest|258||258|97|
|Insurance
|244||244
|342|
|Bank charges|121||121
|94|
|Catering van depreciation|||-|912|
|Equipment depreciation|311||311|311|
||37,457
|37,389|74,846
|148,336|
## **6. TANGIBLE FIXED ASSETS**
Motor Equipment Total Vehicle £ £ **Cost** At 1 April 2022 16,912 1,554 18,466 Disposal (16,912) (16,912) At 31 March 2023 - 1,554 1,554 **Depreciation** At 1 April 2022 912 311 1,223 Disposal (912) (912) Charged in the year - 311 311 At 31 March 2023 - 622 622 **Net Book Value** At 31 March 2023 - 932 932
11
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 – continued**
## **7. INVESTMENTS**
|**7. INVESTMENTS**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|Subsidiary company|2|2|
The charity has a wholly owned subsidiary company, Banana Enterprise Ltd. The subsidiary has not traded. A bank account was opened for the subsidiary and £1,100 was transferred in from the charity’s bank account. This was in anticipation of significant non-primary purpose trading which did not in fact occur. The aggregate of capital and reserves for Banana Enterprise Ltd. at 31 March 2023 was £2.
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||31.3.23|31.3.22|
|---|---|---|
||£
|£|
|Trade Debtors|17,604|-|
|Subsidiary company|1,100|1,100|
|Prepayments|1,600|656|
||20,304|1,756|
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||31.3.23|31.3.22|
|---|---|---|
||£
|£|
|Bank loan|2,453|2,453|
|Trade Creditor|12,400|3,150|
|Other creditor|674|43|
|Accruals|480|420|
||16,007|6,066|
## **10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.3.23 31.3.22 £ £ Bank loan 6,541 8,994
12
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 – continued**
## **11. MOVEMENT IN FUNDS**
|**11. MOVEMENT IN FUNDS**|||||
|---|---|---|---|---|
||At 1.4.22|Incoming|Outgoing|Transfers At 31.3.23|
||£|£
|£
|£
£|
|**Restricted funds**|||||
|Restricted income:|||||
|Community Ownership Fund||17,605|(17,605)||
|Awards for All Lottery|3,486|9,999|(5,485)|8,000|
|Bolton CVS|6,500|630|(7,130)||
|Securities Industry Association 4,619|||(4,619)||
|Architectural Heritage Fund||2,050|(2,050)||
|Miscellaneous contracts||500|(500)||
||14,605|30,784|(37,389)|8,000|
|**Designated fund**|||||
|Fixed Asset Fund|17,243|||(16,311) 932|
|**Unrestricted funds**|||||
|General Fund|33,765|5,943|(37,457)|16,311 18,562|
||65,613|36,727|(74,846)|- 27,494|
## **Restricted funds**
The purpose of the charity’s heritage projects is to increase people’s wellbeing and employment opportunities in the deprived area of Farnworth in Bolton borough.
The purpose of the charity’s training projects is to provide training, information and support to unemployed persons from deprived areas to help them access self-employment.
These projects served clients in Salford, Bolton and Hattersley.
## **12. LIMITED BY GUARANTEE**
The company is limited by guarantee and consequently does not have a share capital.
13