Interim Spaces Cio
REPORT AND FINANCIAL STATEMENTS
31st March 2024
CHARITY REGISTRATION NUMBER 1165694
Frank S Lachman 31 Fairview Way Edgware Middlesex HA8 8JE
Interim Spaces Cio
Legal and Administrative Information
31st March 2024
Registered Charity Number 1165694 Registered Office 41 Whitcomb Street London WC2H 7DT Trustees Marcus Warry Joshua Neicho Jee Eun Lee-Fiorentino Jules Munns Examiner Frank S Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE
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Interim Spaces Cio
DIRECTORS' AND TRUSTEES' REPORT
The trustees, who are also directors for the purposes of the Companies Act, have pleasure in presenting their report and the financial statements of charity for the year ending 31st March 2024.
DIRECTORS' RESPONSIBILITIES
Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that period.
In preparing those financial statements, the directors/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 company will continue in business.
The directors/trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
PRINCIPAL ACTIVITY AND CHARITABLE OBJECTIVE
The charity provides low cost work and development space for artists, entrepreneurs, non-profit and creative organisations.Establishing creative hubs and facilitating learning and networking.
ORGANISATION AND CONSTITUTION
CIO - Foundation Registered 23 Feb 2016
The company is limited by guarantee and has no share capital. The guarantees of individual members are limited to £1.
The company is a registered charity, number 1165694.
The directors of the company form its Committee of Management and Governing Body and are empowered to act as necessary in order for the company to fulfil its objectives. Directors may be appointed by the members of the company or fellow directors at any time.
Registered Office: 41 Whitcomb Street, London WC2H 7DT
PUBLIC BENEFIT
The Trustees confirm that in compiling this report they have had due regard to the guidance on public benefit issued by the Charity Commission in compliance with the duty set out in section 4 of the Charities Act 2006.
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Interim Spaces Ico
REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS
Summary
From April 2023 to March 2024, Interim Spaces made significant strides in its mission to transform underused properties into affordable, flexible and sustainable work and development spaces, empowering communities, catalysing economic growth, and engaging property owners as cultural stakeholders. The launch of a major new project in Shepton Mallet—10 Market Place, and forthcoming project Commercial Road Studios—marks an exciting new chapter in the charity’s work, expanding our reach beyond London and delivering direct benefits to regional communities. Meanwhile, PopHub Leicester Square, our flagship project in Westminster, celebrated its fifth anniversary and continued to make a real impact in the lives and businesses of its members.
The reporting year also highlighted the importance of strong partnerships and innovative funding strategies. Interim Spaces secured £264,000 in grants and blended social investment for the acquisition and refurbishment of 10 Market Place, while local businesses and philanthropists are supporting the development of Commercial Road Studios. Across all projects, we have demonstrated the potential for creative, collaborative approaches to bring life to disused spaces, unlocking opportunities for businesses and creatives, and delivering significant placemaking benefits for communities and local authorities.
PopHub Leicester Square
PopHub Leicester Square remains a cornerstone of Interim Spaces’ activities. Situated in the heart of Westminster, it provides affordable workspace to freelancers, creatives, and small enterprises who would otherwise struggle working from home, public spaces, or in other unsuitable environments. Over the past year, 134 members benefited from the space, with 76% reporting moderate to significant business improvements and 72% noting a positive impact on their mental health.
The project’s flexible facilities, including Studio 1 and the AV Studio, were booked for over 10,000 hours during the year, hosting everything from rehearsals and castings to wellbeing workshops and professional meetings. The charity has also focused on increasing local engagement, raising the proportion of Westminster residents among members to 23%, up from 16% in the previous year.
The prices at PopHub remain considerably affordable, with modest rises in membership fees across 2021/2022 principally as a result of the increase in energy prices, bringing an UNLTD Plan from £80 per month to £100 per month; a Fixed Desk from £120 to £150 per month, and an enclosed studio from £1.20psf/month to £1.50psf/month, all inclusive, and an incredible 92% below local market averages.
Interim Spaces continues to prioritise the welfare of its members at PopHub, providing £1,400 in hardship rent relief to members facing financial duress. This assistance, typically covering 50-100% of membership fees for up to three months, ensures the space remains accessible to those in need. Additionally, Sponsored UNLTD Plans are offered to individuals and non-profits aligned with the charity’s mission but unable to afford even the low membership costs.
Throughout the period, PopHub provided Sponsored UNLTD Plans to homeless non-profit ShowerBox, loneliness charity Beyond Loneliness, writer Nirpal Dhaliwal, start-up perfumer Ezra Lloyd Jackson, Huguenot House resident Brenda Sullivan, and theatre PR freelancer Flavia Fraser Cannon.
As well as delivering to Westminster City Council tangible social outcomes via the PopHub project, through the charitable use of the vacant offices at 41 Whitcomb Street we have mitigated high holding costs for the council subsequently saving the Westminster ratepayer circa £600,000 in business rates since the projects inception.
Interim Spaces is very grateful to enjoy the continued support of Community Fibre, who are the sponsors of our 1gbps fibre optic internet line, which has been vital for so many users of the space.
Testimonial:
"PopHub has been transformative for me. It provides not just a workspace, but also a sense of community and support that has enabled me to grow my business and thrive creatively." – Ian Taylor, founder of eStage
10 Market Place, Shepton Mallet
In September 2023, Interim Spaces acquired the funds to purchase and renovate 10 Market Place, a Grade II listed property in the town centre of Shepton Mallet, to operate as a retail incubator and hire space with a rolling affordable programme of classes in music and wellbeing in the top floor studio. This ambitious project, made possible by £264,000 in grants and blended social investment (£144,000 grant from the Community Ownership Fund, and £120,000 from the Somerset Community Foundation), was completed by the end of the reporting period, within budget and on time. The funding included £80,000 allocated to refurbishing the property, carried out by local specialists Lime Repair Ltd, who uncovered and restored historic features during the process.
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Interim Spaces Cio
The ground floor retail incubator will provide local entrepreneurs with rent-free space to trial their high-street ideas, alongside a £1,500 capital grant and tailored mentorship. The Little Farm Shed, a small local business devised by two young sisters delivering veggie boxes door-to-door, was selected from 27 candidates in March 2024 of the reporting period, to become the first retail incubator participants, starting April 2024 of the following reporting period.
Meanwhile, the upper floors of 10 Market Place were brought back into active use. The charity began moving into its new regional headquarters in the mid-level offices, and fielding applications for users of the top-floor studio.
Commercial Road Studios
During the period, the charity agreed terms with Somerset Council to take on a five year lease the former registry offices at 19 Commercial Road, a disused stand-alone office block on two levels near the town centre of Shepton Mallet, to activate as the town’s first dedicated artist studios, bringing several local makers, artists and creatives together under one roof.
Financial Overview
The charity’s financial strategy continues to focus on leveraging grants, social investments, and partnerships to achieve maximum impact while maintaining sustainability. Key highlights for the year include:
-
Securing £264,000 in funding for the acquisition, refurbishment, and initial operating costs of 10 Market Place. This package included grants and a social investment loan, with £80,000 allocated to renovation works.
-
● Delivering the 10 Market Place project on time and within budget, with the retail incubator and community spaces due to generate direct and indirect economic benefits for the town.
-
Successfully maintaining the financial viability of PopHub Leicester Square, which mitigates an estimated £600,000 in empty property costs for Westminster ratepayers.
These achievements reflect the charity’s ability to manage resources effectively while delivering high-quality outcomes.
Impact and Reflections
The period from 2023 to 2024 has reaffirmed the value of Interim Spaces’ work in creating affordable, accessible spaces that benefit individuals, businesses, and communities. Across all projects, the charity has demonstrated a capacity for innovation and adaptability, responding to local needs and external challenges with effective, targeted solutions.
PopHub Leicester Square continues to exemplify the importance of central, affordable workspaces in enabling small enterprises and freelancers to thrive. Meanwhile, the success of 10 Market Place and Commercial Road Studios showcases the potential for regional expansion to deliver transformative outcomes. Together, these projects highlight the charity’s role in addressing some of the most pressing challenges facing communities today, from the decline of high
Looking Ahead
Now operating in Somerset, Interim Spaces is focused on finding solutions for struggling high streets and developing models to re-energise town centres. Future plans include replicating the retail incubator model in other locations and expanding the artist studio network. Interim Spaces remains committed to creating affordable, high-quality spaces that enable communities, businesses, and creatives to thrive.
The coming year will see the charity deepen its partnerships with local councils and stakeholders, ensuring that its projects continue to meet the evolving needs of the communities it serves.
INDEPENDENT EXAMINER
A resolution proposing the re-appointment of Frank S Lachman as Independant Examiner will be submitted at the Annual General Meeting.
DIRECTORS/TRUSTEES
The trustees set out below have held office during the whole year of this report unless otherwise stated:
Joshua Neicho Marcus Warry
Jee Eun Lee-Fiorentino Jules Munns
Appointed 4th September 2024 Appointed 22nd Decmber 2023
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Interim Spaces Cio
RESERVES POLICY
The company endeavours to maintain a level of reserves that will enable it, if the situation arises that funding is curtailed, to carry on its activities whilst alternative sources of funding are obtained.
The unrestricted reserves as at 31st March 2024 were £29,647 surplus ( 2023 £25,250) The movement in reserves is shown in note 8 to the accounts.
RELATED PARTIES
The charity has relationships with other charities on a project-by-project basis.
The charity owns 100% of it's trading subsidiary Interim Spaces Trading Limited.
GOING CONCERN
The directors confirm that:
A going concern basis is appropriate for these accounts.
The company has sufficient reserves to continue for at least 12 months after the date of signing these accounts.
RISK MANAGEMENT
The company undertakes periodic reviews for different areas of risk including insurance cover,health and safety policies in the workplace and whilst performing, working with young children,financial affairs; personnel practices; ICT technology.
This report has been prepared in accordance with the provisions in Section 419(2) of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on
and signed on its behalf by Marcus Warry
Trustee
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Interim Spaces Cio
ACCOUNTANTS REPORT
Independent Examiner's Report on the Accounts
I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024 which are set out on pages 7 to 12 .
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors 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’).
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 Charities Act 2011 (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 report
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
(2) the accounts do not accord with those accounting records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Frank S Lachman FCA Member Institute of Chartered Accountants in England and Wales Chartered Accountant Independent Examiner
31 Fairview Way Edgware Dated: Middlesex , HA8 8JE
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Interim Spaces Cio
Statement of Financial Activities For the Year Ended 31st March 2024
| Unrestricted | Resticted | Restricted | Total | Unrestricted | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Capital | Revenue | Funds | Funds | Funds | ||
| Notes | 2024 | 2023 | |||||
| Income from: | |||||||
| Donations and Legacies | 2 | - | 160,000 | 24,000 | 184,000 | - | - |
| Investment Income | 1,225 | - | - | 1,225 | - | - | |
| Charitable activities | 3 | 109,708 | - | - | 109,708 | 105,263 | 105,263 |
| Total income | 110,933 | 160,000 | 24,000 | 294,933 | 105,263 | 105,263 | |
| Expenditure on: | |||||||
| Charitable Activity Costs | 4 | 98,030 | 8,506 | 24,000 | 130,536 | 100,602 | 100,602 |
| Total expenditure | 98,030 | 8,506 | 24,000 | 130,536 | 100,602 | 100,602 | |
| Net income for year | 12,903 | 151,494 | - | 164,397 | 4,661 | 4,661 | |
| Funds brought forward | 25,250 | - | - | 25,250 | 20,589 | 20,589 | |
| Transfers | (8,506) | 8,506 | - | - | |||
| Funds carried forward | 9 | 29,647 | 160,000 | - | 189,647 | 25,250 | 25,250 |
The statement of Financial Activities reflects the results of continuing activities for the year.
There were no recognised gains or losses other than the net outgoing resources for the year.
The net outgoing resources for the year have been calculated on the historical cost basis.
The notes on pages 9 to 12 form part of these accounts.
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Interim Spaces Cio Balance Sheet at 31st March 2024
| Notes 2024 2023 £ £ £ £ Fixed assets Investment in subsidiary 1 1 Tangible Fixed Assets 5 230,248 10,383 Current assets Debtors 6 1,300 1,650 Cash at bank and in hand 31,162 13,216 Total current assets 32,462 14,866 Creditors falling due within one year 7 13,300 - Net current assets 19,162 14,866 Creditors falling due after one year 8 59,764 - Net assets 189,647 25,250 The Funds of the Charity 10 Unrestricted Funds 29,647 25,250 Restricted Funds 160,000 - Total Charity Funds 189,647 25,250 |
Notes 2024 2023 £ £ £ £ Fixed assets Investment in subsidiary 1 1 Tangible Fixed Assets 5 230,248 10,383 Current assets Debtors 6 1,300 1,650 Cash at bank and in hand 31,162 13,216 Total current assets 32,462 14,866 Creditors falling due within one year 7 13,300 - Net current assets 19,162 14,866 Creditors falling due after one year 8 59,764 - Net assets 189,647 25,250 The Funds of the Charity 10 Unrestricted Funds 29,647 25,250 Restricted Funds 160,000 - Total Charity Funds 189,647 25,250 |
Notes 2024 2023 £ £ £ £ Fixed assets Investment in subsidiary 1 1 Tangible Fixed Assets 5 230,248 10,383 Current assets Debtors 6 1,300 1,650 Cash at bank and in hand 31,162 13,216 Total current assets 32,462 14,866 Creditors falling due within one year 7 13,300 - Net current assets 19,162 14,866 Creditors falling due after one year 8 59,764 - Net assets 189,647 25,250 The Funds of the Charity 10 Unrestricted Funds 29,647 25,250 Restricted Funds 160,000 - Total Charity Funds 189,647 25,250 |
Notes 2024 2023 £ £ £ £ Fixed assets Investment in subsidiary 1 1 Tangible Fixed Assets 5 230,248 10,383 Current assets Debtors 6 1,300 1,650 Cash at bank and in hand 31,162 13,216 Total current assets 32,462 14,866 Creditors falling due within one year 7 13,300 - Net current assets 19,162 14,866 Creditors falling due after one year 8 59,764 - Net assets 189,647 25,250 The Funds of the Charity 10 Unrestricted Funds 29,647 25,250 Restricted Funds 160,000 - Total Charity Funds 189,647 25,250 |
|---|---|---|---|
| 14,866 - |
|||
| 189,647 | 25,250 | ||
| 29,647 160,000 |
25,250 - |
||
| 189,647 | 25,250 |
a) For the year ended 31 March 2024 the company was entitled to exemption under section 477(2) of the Companies Act 2006.
(b) No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
(c) The directors acknowledge their responsibility for:
i. ensuring the company keeps accounting records which comply with section 386; and
ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
(d) The accounts have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the . company
Approved by the directors on , and signed on their behalf by Marcus Warry
- Trustee
The notes on pages 9 to 12 form part of these accounts.
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Interim Spaces Cio
Notes to the Financial Statements For the Year Ended 31st March 2024
1 Accounting Polices
(a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2022) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Interim Spaces Cio meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
(b) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants has been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
(c) Expenditure
All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. It is probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs are allocated to a category either because such costs are directly incurred in relation to such category, or because they are support costs in respect of which an apportionment has been made between the categories.
Support costs consist of infrastructure costs for salaries, premises, office administration. Such costs are apportioned on a reasonable and consistent basis to the various categories with a view to determining, as accurately as possible, the total resources expended for each category. The basis of apportionment used is either a function of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of both.
Direct and Support costs are separately shown by natural classification in Note 5 to these accounts for each category of cost.
(d) Taxation
The company as a registered charity ( number 1165694 ) is exempt from taxation on most investment income insofar as it is applied for charitable purposes. The company is also exempt from taxation on capital gains.
(e) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(f) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(g) Depreciation
The rates of depreciation of asset class are:
Office equipment 20% straight line
Property No depreciation is provided as the asset is appreciating
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Interim Spaces Cio
Notes to the Financial Statements For the Year Ended 31st March 2024
2 Donations and legacies
| Donations and legacies | ||||||
|---|---|---|---|---|---|---|
| **Unrestricted ** | Restricted | Unrestricted | ||||
| Funds | Funds | 2024 | Funds | 2023 | ||
| Grants for General Running Costs | ||||||
| Secretary of State for Levelling Up | ||||||
| Housing & Communities | - | 24,000 | 24,000 | - | - | |
| Grants for Capital Costs | ||||||
| Secretary of State for Levelling Up | ||||||
| Housing & Communities | - | 120,000 | 120,000 | - | - | |
| Somerset Community Foundation | - | 40,000 | 40,000 | - | - | |
| - | 184,000 | 184,000 | - | - |
| 3 Charitable activity Sundry income and recharges 4 Charitable activity costs Charitable Activity Costs Advertising & Marketing Audit & Accountancy fees Bank Fees Business rates Consumables Direct labour General Expenses Insurance IT Software and Consumables Loan Interest Light, Power, Heating etc Legal fees Cleaning and waste Printing & Stationery Professional services Repairs & Maintenance Security Software & Infrastructure Subscriptions & memberships Telephone & Internet Travel - National Volunteer Expense Depreciation Total Space hire |
Unrestricted Unrestricted Funds 2024 Funds 2023 103,006 103,006 100,313 100,313 6,702 6,702 4,950 4,950 109,708 109,708 105,263 105,263 Support Costs and Governance Charitable Activity Costs Charitable Activity Costs Total 2024 Support Costs and Governance Charitable Activity Costs Total 2023 Unrestricted Unrestricted Restricted Unrestricted Unrestricted 251 - 562 813 907 - 907 1,000 - - 1,000 1,000 - 1,000 127 - - 127 - 75 75 - - - - - - - - 1,130 448 1,578 - 1,623 1,623 - 25,585 13,000 38,585 - 39,767 39,767 - 11,683 2,170 13,853 - 3,510 3,510 - - 1,902 1,902 - 668 668 7,799 245 - 8,044 363 - 363 2,337 - - 2,337 - - - - 11,646 5,323 16,969 - 16,976 16,976 - - 2,587 2,587 - - - - 6,036 - 6,036 - 6,853 6,853 279 - - 279 431 - 431 - 5,932 5,305 11,237 4,860 - 4,860 - 7,604 - 7,604 - 4,553 4,553 - - 200 200 - 4,639 4,639 1,573 - - 1,573 1,911 - 1,911 2,543 - 500 3,043 3,632 - 3,632 3,163 - - 3,163 2,770 - 2,770 3,084 - 509 3,593 1,484 - 1,484 6,013 - - 6,013 4,580 - 4,580 |
|---|---|
| 28,169 69,861 32,506 130,536 21,938 78,664 100,602 |
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Interim Spaces Cio
Notes to the Financial Statements For the Year Ended 31st March 2024
5 Fixed Assets
Fixtures Fittings & Office Equipment Property Total
| 5 Fixed Assets | 5 Fixed Assets | Fixtures Fittings & Office Equipment Property Total |
|---|---|---|
| Cost As at 1st April 2023 Additions in year As at 31.3.2024 Depreciation As at 1st April 2023 Charge for year As at 31.3.2024 Net Book Value 31st March 2024 31st March 2023 6 Debtors Loan to Subsidiary company 7 Creditors due within one year Accruals Bank loan 8 Creditors falling due after one year Bank Loan 9 Reconciliation of movement of funds Funds at 1st April 2023 Income Unrestricted Funds 25,250 110,933 Restricted Funds Capital - 160,000 Revenue - 24,000 25,250 294,933 |
22,900 - 22,900 7,168 218,710 225,878 |
|
| 30,068 218,710 248,778 |
||
| 12,517 - 12,517 6,013 - 6,013 |
||
| 18,530 - 18,530 |
||
| 10,383 - 230,248 11,538 218,710 10,383 2024 2023 1,300 1,650 1,300 1,650 2024 2023 100 - 13,200 - 13,300 - 2024 2023 59,764 - 59,764 - Expenses Transfers Funds at 31st March 2024 98,030 (8,506) 29,647 8,506 8,506 160,000 24,000 - - |
||
| 25,250 294,933 |
130,536 - 189,647 |
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Notes to the Financial Statements For the Year Ended 31st March 2024
The funds comprise:
General Fund: are moneys which can be used by the Trustees at their discretion for any purpose and which have not been designated by them previously
Restricted Fund: are grants received for the purchase of the property.
10 Analasys of assets over funds
| Restricted Funds Unrestricted Funds: |
Fixed Assets Net Assets Total 2024 Total 2023 160,000.00 - 160,000 - 70,249 (40,602) 29,647 25,250 |
|---|---|
| 230,249 (40,602) 189,647 25,250 |
11 Trustees
During the year, none of the trustees received any remuneration from the trust and no expenses were reimbursed to any of them.
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