OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-06-30-accounts

Registered Charity No. 1162002

Company Registration No. 6801476 (England and Wales)

MAXABILITY

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1

MAXABILITY

COMPANY INFORMATION

Directors and Trustees Mrs A Woolf Mr E Woolf Dr R G Hacksley Mr R Mapleston Ms C Rubens Secretary Mr E Woolf Registered Charity number 1162002 Company number 6801476 Registered office Greenacres 19 Greenacre Walk Southgate London N14 7DB

2

MAXABILITY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

Contents Pages
Directors' report 4-9
Independent examiner's report to 10
the Trustees
Statement of financial activities 11
(including income and expenditure
account)
Balance sheet 12
Notes to the financial statements 13-18

3

MAXABILITY

DIRECTORS’ REPORT

FOR THE YEAR ENDED 30 JUNE 2023

______________

The Directors, who also act as trustees, present their report and the financial statements of the Company for the year ended 30 June 2023.

Principal activity

The principal activity of the Company continued to be that of raising and providing funds for the benefit of physically and learning disabled or disadvantaged adults and young people residing in North London. Funds are donated by various charitable originations and at a series of classical chamber music concerts.

History

The company is governed by its Articles of Association which was formally adopted by the Directors on 16 February 2015. On 4 June 2015 the company was entered onto the Register of Charities (number 1162002).

On 6 July 2015 a meeting of directors agreed that the charity should merge with Barnet Disabled for Independence with Support in the Community ('BDISC') (charity no. 1141480). On 7 August 2015 BDISC was removed from the Register of Charities and its assets and liabilities were amalgamated into Maxability on 9 October 2015. To facilitate the process, the year end of the company was changed to 30 June.

Risk Management

The trustees have examined the major strategic, business and operational risks which the Company faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.

Aims and Objectives

The aims and objectives of the Company are:

To provide for the relief of need of disabled persons for the public benefit, including but not limited to:

  1. Providing services and support for the social, spiritual, physical and mental wellbeing of disabled people;

  2. Providing facilities for the recreation, training and education of disabled people residing in North London; and

  3. Promoting independent living among disabled people, including by advocating for social inclusion and equality and developing and providing opportunities for disabled people to engage in economic activity.

4

MAXABILITY DIRECTORS’ REPORT (continued)

FOR THE YEAR ENDED 30 JUNE 2023

How Our Activities Deliver Public Benefit

All of our classes are intended to be open to all, including those who consider themselves to be disabled or disadvantaged in any way whatsoever.

The classes take place in the Flightways Resource Centre on the Grahame Park Estate in Edgware. Barnet Council has given us permission to use our space in Flightways until February 2024 and have agreed to provide basic services during its use by Maxability. The lease and its terms will be renegotiated after September 2023.

Maxability runs courses in ceramics: These aim to provide new skills and promote psychological wellbeing. As from September 2022, 15 classes run each week. Ceramics courses are divided into the following classes:

Friday courses are offered for the general public. These take place in response to the Regeneration Team at Grahame Park. The basic cost of these courses is met by Barnet & Southgate College. Wednesday and Saturday classes are provided through Learn Harrow at a subsidised rate.

There are up to 10 people on each course due to space constraints.

During the lockdown period in 2021, successful online classes were held.

City Bridge Trust, the National Lottery Community Fund, Foyle Foundation, Nagle Family Foundation Hadley Trust, the Lilian and Joseph Sully Foundation and other anonymous donors awarded Maxability grants to promote and subsidise these courses. Accordingly, modest fees for these courses, proportionate to disability benefits, are charged.

5

MAXABILITY

DIRECTORS’ REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2023

Plans for Future Periods

Maxability will continue to encourage choice, independence and equality; supporting the inclusion of people with disabilities in a society where diversity is the norm, and ordinary people such as pensioners. In the furtherance of these aims it will continue to provide services which support disabled people to take an active and inclusive role in their local communities. We are also developing our relationships with other charitable arts organisations with the aim of creating new co-production opportunities in the future.

Maxability is focused on securing core costs for the next two-to-three years’ delivery, to create greater sustainability and security as our demand grows. Core funding will give the charity flexibility and during the current financial climate, ensure that projects can adapt to the needs of beneficiaries and our premises are secure.

A second year grant from the Nagle Family Foundation was granted at the start of 2023. We are extremely grateful to this donor for their continued support and the time they have invested in Maxability. It is these relationships that we will continue to focus on over the coming twelve months.

Applications to larger scale, national funders will be made to secure £60,000 over three years. This funding will be a contribution towards salaries and equipment.

Our existing relationship with the Lilian and Joseph Sully Foundation has seen regular six-month donations of £5,000. Building on this relationship, a formal proposal has been made to the Trustees for consideration in December 2023 to support Maxability's core funding needs. Proposals of this nature remain pending.

To support applications to Trusts and Foundations, Maxability will be implementing a Friends of Maxability campaign to attract public giving and small, recurring donations. Its primary aim is to raise visibility and our presence, whilst being a small-medium income revenue in the first 12-18 months.

A Corporate Giving programme is being drafted, to nurture relationships with aligned companies, locally and regionally. 2 corporate leads have signalled there is potential in this market and the aim is to place a conservative target of £10,000 for the next financial year from corporate donations.

6

MAXABILITY

DIRECTORS’ REPORT (continued)

FOR THE YEAR ENDED 30 JUNE 2023

Our budgeted expenditure to sustain the service at the same level of staff time and delivery for the year to 30 June 2024 is £185,000. At present, we have secured £105,000 and this leaves us with a shortfall of £80,000 between now and June 2024.

If the necessary level of funds is not reached, delivery and staff time would need to be reduced. This would mean streamlining the service and management time in order to operate on £125,000. This figure is taken from previous years and would require us to scaling back hours and courses.

We sincerely hope not be in a such a position, especially with repeat funders and bids being made over the next 10 months. However, conservative measures are there to ensure Maxability can maintain a service to its users.

If sufficient funding is available, we plan to recruit Studio Technician and Project Coordinator roles, plus the conversion of one of our two studios into a Pottery Wheel Studio.

If we are to expand our capacity and delivery schedule, increased investment will be necessary. However, we will not make steps to expand without secured funding in place.

Financial Review

The accounts cover all activities controlled by Maxability. Donations from charitable functions which totalled £13,949 (2022: £16,480) includes Gift Aid receivable of £1,765 (2022: £1,977). Other donations received totalled £152,117 (2022: £85,034). Maxability is grateful to Ashley Family Foundation, London Borough of Barnet, City Bridge Trust, The Betty Messenger Charitable Foundation, The John R Murray Charitable Trust, the Nagle Family Foundation Hadley Trust, Souter Charitable Trust, the Lilian and Joseph Sully Foundation, Young Barnet Foundation - Space to Grow, and other donors for donations received this year. The results for the year are shown on the Statement of Financial Activities. For the year ended 30 June 2023 there was net income for the year of £78,816 (2021: net income of £44,132).

Reserves Policy

The Charity will endeavour to maintain unrestricted funds not committed or invested in fixed assets, i.e. 'free reserves' at a level of around 6 months of unrestricted expenditure. This provides sufficient levels of funds to be able to continue the current activities of the company, to provide time to replace existing funding sources and to provide a buffer against unexpected shortfalls and funds for termination/winding down costs should that eventuality arise.

Unrestricted designated funds:

The commercial rent fund provides for commercial rent at a level which is sufficient to cover a year's commitment.

7

MAXABILITY

DIRECTORS’ REPORT (continued)

FOR THE YEAR ENDED 30 JUNE 2023

____________ The repair and replacement of kiln fund provides for the expected expenditure for one kiln.

Directors

The following directors have held office since 1st July 2022:

Mr B. Alexandrou (appointed on 26 November 2021, resigned on 8 September 2022) Dr R G Hacksley (appointed on 15 February 2023)

Dr R. Mapleston Ms C. Rubens Mrs A Woolf Mr E Woolf

All Directors are also Trustees of the Charity.

Charitable contributions

No charitable contributions were made during the year.

Statement of directors' responsibilities for the financial statements

The directors (who are also trustees of Maxability for the purposes of charity law) are responsible for preparing the Directors' Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company at the balance sheet date and of the incoming resources and application of resources, including income and expenditure of the charitable company for the financial year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding

8

MAXABILITY

DIRECTORS’ REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2023

the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the board

ANITA WOOLF - CHAIR

Approved by the Board on 6[th] November 2023

9

MAXABILITY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MAXABILITY

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.

Respective Responsibilities of Trustees and Examiner

As the charity's trustees who are also directors of the Company for the purposes of company law, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act') and Charities Act 2011 ('the 2011 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Simon Groves Date: 6[th] November 2023

10

MAXABILITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2023

Note
Income from:
Donations
Charitable activities
Total
Expenditure on:
Fundraising costs
Charitable activities
Support expenses
Total
Net income/(expenditure) and net
movement in funds for the year
Total funds brought forward
Total funds carried forward 8		 Unrestricte
d
funds
Year ended
30 June
2023
£
Restricted
funds
Year ended
30 June
2022
Total
funds
Year ended
30 June
2023
£
158,326
7,740
166,066
70,912
70,912
229,238
7,740
236,978
(6,760)
-
(6,760)
(82,198)
(7,740)
(89,938)
(61,699)
-
(61,699)
(150,657)
(7,740)
(158,397)
78,581
-
78,581
91,217
-
91,217
169,798
-
169,798		 Unrestricte
d
funds
Year ended
30 June
2022
£
Total
funds
Year ended
30 June
2022
£
101,513
101,513
47,677
47,677
149,190
149,190
(8,233)
(8,233)
(51,784)
(51,784)
(45,041)
(45,041)
(105,058)
(105,058)
44,132
44,132
47,085
47,085
91,217
91,217

The statement of financial activities includes all gains and losses recognised during the year. All income and expenditure derive from continuing activities.

11

MAXABILITY

BALANCE SHEET

AS AT 30 JUNE 2023

Note
Current assets
Cash at bank and in hand
Other debtors
Creditors: amounts falling due
within one Year
2
Total assets less current
liabilities
Represented by funds
Unrestricted funds
Designated Funds
8
General Fund
8
Total funds		 2023
£
£
182,378
1,979
184,357
(14,559)
169,798
34,000
135,798
169,798		 2023
£
£
182,378
1,979
184,357
(14,559)
169,798
34,000
135,798
169,798		 2022
£
£
99,103
6,030
105,133
(13,916)
91,217		 2022
£
£
99,103
6,030
105,133
(13,916)
91,217
91,217
34,000
135,798
169,798		 34,000
57,217
91,217

For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions of part 15 of Companies Act 2006 relating to small companies.

Approved by the Board for issue on 24 October 2022.

The notes on pages 12-14 form part of these financial statements.

Mr E Woolf Director Date: 6[th] November 2023

Mrs A Woolf Director Company Registration No. 6801476

12

MAXABILITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

1. Accounting policies

Maxability is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards (FRS102), the Statement of Recommended Practice 'Accounting and Reporting by Charities 2015', the Companies Act 2006 and the Charities Act 2011. The Charity has adopted FRS102 when preparing these financial statements.

1.2. Fund Accounting

Restricted funds represent grants, donations and legacies received which are allocated by the donor for specific purposes.

Unrestricted income funds are those funds that are available to the trustees to apply to the general charitable purposes as laid out in the Trust Deed.

Designated funds are unrestricted funds which have been put aside out of unrestricted funds at the discretion of the Trustees.

1.3. Income recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing.

1.4. Expenditure recognition

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.

1.5. Going Concern

The trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of these financial statements. The trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company will continue to adopt the going concern basis in preparing its financial statements.

13

MAXABILITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

2.
Creditors: amounts falling due within one year
Trade creditors
Other creditors		 2023
£
8,559
6,000
14,559		 2022
£
7,915
6,000
13,915

3. Trustees remuneration and expenses

The trustees were not paid any remuneration or received any other benefits during the year (2022 - £nil).

No trustee or other person related to the charity had any personal interest in any contract entered into by the charitable company during the year (2022 – £nil).

4. Taxation

As a charity, Maxability is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

5. Related Party Transactions

There are no related party transactions during the year (2022 - £nil).

6. Capital commitments

There were no capital commitments at 30 June 2023 or 30 June 2022.

7. Control

The company is controlled by the directors.

14

MAXABILITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

8.
Movement on restricted funds		 8.
Movement on restricted funds
Current Year Balance at Income Expenditure Transfer Balance at
1 July 2022 £ £ £ 30 June
£ 2023
Restricted funds:
Various - 7,740 (7,740) - -
Total Restricted Funds - 7,740 (7,740) - -
Previous Year Balance at Income Expenditure Transfer Balance at
1 July 2021 £ £ £ 30 June
2022
Restricted funds:
Various - - - - -
- - - -

15

MAXABILITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

9. Movement on unrestricted funds

Current Year
Designated funds:
Commercial rent
Repair or replacement of
kilns
Total designated funds
General Fund
Previous Year
Designated funds:
Commercial rent
Repair or replacement of
kilns
Total designated funds
General Fund		 Balance at
1 July 2022
£
Income
£
Expenditure
£
Transfer
£
Balance at
30 June
2023
32,000
-
-
-
32,000
2,000
-
-
-
2,000
34,000
-
-
-
34,000
57,217
229,238
(150,657)
-
135,798
91,217
229,238
(150,657)
-
169,798
Balance at
1 July 2021
Income
£
Expenditure
£
Transfer
£
Balance at
30 June
2022
32,000
-
-
-
32,000
2,000
-
-
-
2,000
34,000
-
-
-
34,000
13,085
149,190
(105,058)
-
57,217
47,085
149.190
(105,058)
-
91,217

16

MAXABILITY

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Income from:
Donations - function receipts
Donations - other donations received
Membership and course fees
Total income
Less: Expenditure
Fundraising costs
Concerts
Charitable activities
Tutors and outgoings for classes
Maintenance
Support expenses
Total expenditure
Net income/(expenditure) and net
Movement in funds for the year		 £ 2023
£
13,949
152,117
70,912
236,978
6,760
89,938
61,699
158,397
78,581		 £
16,480
85,033
47,677		 2022
£
86,625
3,313		 50,647
1,137		 149,190
8,233
51,784
45,041
105,058
44,132

17

MAXABILITY

SCHEDULE OF SUPPORT EXPENSES

FOR THE YEAR ENDED 30 JUNE 2023

Support expenses
Service providers
Rent for One Stonegrove
Bank charges
HR Consultancy
Insurance
Legal and professional fees
Cleaning
Office
Marketing
Sundry expenses		 2023
£
49,312
2,500
-
98
319
-
4,906
1382
238
2,944
61,699		 2022
£
36,149
-
12
-
364
88
3,893
-
1,099
3,436
45,041

18