The Charity Registration Number is :- 1166339
Urban MBA
Report and Accounts
31 March 2022
Urban MBA
Report and accounts for the year ended 31 March 2022
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 9 | |
| Independent Accountant's Report | 10 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 12 | |
| Statement of Financial Activities - Prior Year statement | 13 | |
| Statement of total recognised gains and losses | 13 | |
| Movements in funds | 14 | |
| Revaluation reserves | 14 | |
| Revenue Funds | 15 | |
| Fixed Asset funds | 15 | |
| Income and Expenditure account | 16 | |
| Summary of funds | 16 | |
| Balance sheet | 17 | |
| Cash flow statement | 18 | |
| Notes to the accounts | 19 |
Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
The Trustees present their Report and Accounts for the year ended 31 March 2022.
Reference and administrative details
The charity name.
The legal name of the charity is:- Urban MBA.
The charity is also known by its operating name, Urban MBA.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1166339.
.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .
The governing document is dated 01 April 2016
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
The principal operating address, telephone number, email and web addresses of the charity are:-
Unit W10 8 Woodberry Down, N4 2TG Telephone 7900374026 Email Address Info@urbanmba.co.uk Web address www.urbanmba.co.uk
The Trustees in office on the date the report was approved were:-
Fahmida Begum Sheromie Brewster Jerton Lagranha Junior Bernie J Mitchell Frances Saeley
The following persons served as Trustees during the year ended 31 March 2022 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
At the Annual General Meeting no trustees retire.
Fahmida Begum is a member of the charity
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
THE RELIEF OF UNEMPLOYMENT FOR PEOPLE AGED BETWEEN 19 – 25 IN HACKNEY AND EAST LONDON, IN PARTICULAR BUT NOT EXCLUSIVELY BY THE PROVISION OF ASSISTANCE TO FIND EMPLOYMENT
We at Urban MBA, despite the obstacles that the pandemic brought, have expanded our reach even further.
CEO & Trustees FOREWORD
The past two years presented unforeseen challenges such as lockdowns, furlough schemes, and an overwhelming sense of uncertainty. On the flip side, if you are an entrepreneur, this period also created many opportunities.
More money was spent in the Venture Capital sector than ever before as lockdown restrictions dragged on – this goes to show that things are not always as they seem behind the scenes. At Urban MBA, we have expanded our reach even further, despite the pandemic and the obstacles it brought with it. In 2016, or phase one of our journey we focussed our efforts on using storytelling as our unique selling point to encourage people to understand why our courses were so popular. Phase two moved us forward to examine sustainability as most charities have a poor success rate. In 2021, we secured our intellectual property with trademarks on all our names and established our second company vehicle, Urban MBA Training Ltd, which is 30% owned by Urban MBA and forms a crucial part of our sustainability.
We also completed our e-learning training model that will enable us to become influential on a global scale. As we progress, phase three drives Urban MBA to successfully develop into a technological education disrupter, delivering content for children and young adults as a secure alternative to traditional education, and moulding us into a school of the future.
Our focus is to examine transformative technology and integrate it into our teaching so that we can deliver training that helps shape the next generation and the future of our world.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
The main activities undertaken in relation to those purposes during the year.
WE WILL BE A DISRUPTER TO THE EDUCATION SYSTEM
Urban MBA is dedicated to focusing on technology and practical skills. This contrasts with the traditional education system, which focuses primarily on merits. Urban MBA courses are designed to teach students the importance of current and future technologies, giving guidance on how they can be applied and used to benefit their own aspirations. Currently, the traditional education system lacks the infrastructure and adaptability to provide updated information - Urban MBA steps in to fill this crucial gap in knowledge.
This is a one-year pilot project that set out to disrupt the system and change the way that students are being taught. Urban MBA uses their predictions of the future and technology to teach and to ensure that students are able to adapt their lives in all aspects. This helps Urban MBA alumni open their minds and ensures that they develop in areas that are not at risk of being taken over by technology.
It also steers them on how technology can be best used in their preferred sector. Before Amazon Fresh became well-known, we predicted that this type of store would become increasingly popular - where one could walk in, add things to a cart, and walk out without any human interaction. This prediction of this growth came true and has occurred in history multiple times. In a post shared around this topic on 9 March 2021 on the Urban MBA Instagram page, Urban MBA Alumni commented that they were aware it would happen based on what they learned in our courses.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
WE WILL BE A DISRUPTER TO THE EDUCATION SYSTEM
Urban MBA is dedicated to focusing on technology and practical skills. This contrasts with the traditional education system, which focuses primarily on merits. Urban MBA courses are designed to teach students the importance of current and future technologies, giving guidance on how they can be applied and used to benefit their own aspirations. Currently, the traditional education system lacks the infrastructure and adaptability to provide updated information - Urban MBA steps in to fill this crucial gap in knowledge.
This is a one-year pilot project that set out to disrupt the system and change the way that students are being taught. Urban MBA uses their predictions of the future and technology to teach and to ensure that students are able to adapt their lives in all aspects. This helps Urban MBA alumni open their minds and ensures that they develop in areas that are not at risk of being taken over by technology.
It also steers them on how technology can be best used in their preferred sector. Before Amazon Fresh became well-known, we predicted that this type of store would become increasingly popular - where one could walk in, add things to a cart, and walk out without any human interaction. This prediction of this growth came true and has occurred in history multiple times. In a post shared around this topic on 9 March 2021 on the Urban MBA Instagram page, Urban MBA Alumni commented that they were aware it would happen based on what they learned in our courses.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
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The charity's strategies for achieving its aims and objectives in the future.
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We ended the financial year by starting a new pilot course designed to make higher education more accessible and vocational around business and enterprise.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
How the activities undertaken during the year contributed to the achievement of the aims and objectives.
Post pandemic means there are cross overs with what we did and going forward. The plans are: 1.Become Globally recognised – Ghana exploration and Online courses have began. 2.METAVERSE PROJECT - Urban MBA is building an educational course around the metaverse, which is being piloted in July 2022. The course is designed to give participants a better understanding of the metaverse, and how it’s projected to influence the future of the digital world, and the technologies which are associated with its building and expansion. The course features topics including 3D design, the esports industry, NFTs, Cryptocurrency, navigating the knowledge economy, and entrepreneurship. The metaverse content provided by Urban MBA is a frontrunner in the educational sphere and is far more comprehensive than many of the other courses availableit is one of the only courses providing an in person, hands-on experience. Metaverse students are taken to a VR experience and are shown the basics of 3D design by a professional. They learn from a variety of sources, giving them the skills to navigate a heavily digitised future. Urban MBA is constantly evolving, and as the dynamics of the metaverse continue to be revealed, its potential for education will be explored.
The main achievements and performance of the charity during the year.
Post pandemic means there are cross overs with what we did and going forward. The plans are: 1.Become Globally recognised – Ghana exploration and Online courses have began. 2.METAVERSE PROJECT - Urban MBA is building an educational course around the metaverse, which is being piloted in July 2022. The course is designed to give participants a better understanding of the metaverse, and how it’s projected to influence the future of the digital world, and the technologies which are associated with its building and expansion. The course features topics including 3D design, the esports industry, NFTs, Cryptocurrency, navigating the knowledge economy, and entrepreneurship. The metaverse content provided by Urban MBA is a frontrunner in the educational sphere and is far more comprehensive than many of the other courses availableit is one of the only courses providing an in person, hands-on experience. Metaverse students are taken to a VR experience and are shown the basics of 3D design by a professional. They learn from a variety of sources, giving them the skills to navigate a heavily digitised future. Urban MBA is constantly evolving, and as the dynamics of the metaverse continue to be revealed, its potential for education will be explored.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
Fundraising activities during the year.
Fundraising activities have been limited due to the pandemic, having previously struggled to raise finance or funding in addition to the previous bid writer being unsuccessful with multiple bids. the trustees and leadership teams took the decision to find an organisation to support the charity's funding activities.
We enlisted the services of Edukit below is an outline of how they work taken from the website. To date, they have been 45% successful in bid writing and we will be engaging in a 12-month plan of funding support from them.
Edu Kit Bid Writing Process
The bid writing process is adaptable to circumstances but generally follows these steps. Data gathering where you provide us details on your organisation and project. This is completed using a questionnaire and potentially a telephone call.
Bid matching.
Bid writing of a single-stage application. Further questions or stages to the application will be billed separately.
Quality Assurance and review
Submission
It is very important to us that you get the best bid writing experience possible, and that we spend as much time as possible writing the bid detail. To that end, we have detailed responsibilities for both us and you to ensure the best working relationship.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
The difference the charity's performance during the year has made to the beneficiaries of the charity.
Some aspects of the charities' work are not always so visible, our annual events such as LFW allow us to engage with up to 30 young people per year add women’s international day and work experience with local schools and Urban MBA has engaged with over 120 people the fiscal year 2021/22. We continue to provide more of these events in particular with our successful alumni to support the development of critical thinking skills in students.
This is achieved by all involved in the events being given roles and tasks with deadlines and reporting structures which provide practical needed experience. The vocational aspects of all our courses have been highlighted and discussed by our students, volunteers and older clients who are looking to upskill.
The beneficiaries of Urban MBA will have from early 2022 accreditations from levels 3 – 6 developed through sfedi and Ioee. SFEDI Awards was founded in 2007 creating the first dedicated Awarding .Organisation specialising in business enterprise and business support, a standing still enjoyed to this day within the UK. Our qualifications are built on the extensive research that underpins the SFEDI National Occupational Standards and the expertise of the Institute of Enterprise and Entrepreneurs
This replaces the advanced level 2 project management agreement we had with Peabody housing. As previously commented we moved away from this and the partnership as Peabody failed to deliver promises and they have started replicating Urban MBA enterprise courses.
The long-term plan is to develop a bespoke Urban MBA level 6 accreditation for 2023/24 which we have a partial agreement in place to work with.
Structure, governance and management of the charity
4 Annual meetings with the trustee leadership team focused on long-term goals determine the addition of trustees. E.g as we have started Ghana and European exploration we are looking for trustees that can advise in these 2 areas of connections and corporate finance and partners.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
The policies and procedures for the induction and training of trustees.
TPolicies and procedures for trustees are dealt with by HR and overseen by another trustee.
The charity's organisational structure.
Chrities Organisational Structure
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Kofi Oppong
training Programme
Development / Sales
Tajinder Lechter
HR / Course Outcomes / Mapping
Tracking
Urban MBA
AccreditationAcademy / E – LearningManagerProject CFOIhzaz/AccountantAhmed Franchise/AffiliateManager BlakeCreativeMarketingCheatdomTeam– Marketing TrainTrainerThe
Nathaniel Sobee
Trainers Ready To
Deliver Courses For
Scaling
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Bankers Barclays
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
Financial review
The charity's financial position at the end of the year ended 31 March 2022
The financial position of the charity at 31 March 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Net income Unrestricted Revenue Funds available for the general purposes of the charity Restricted Revenue Funds Total Funds |
2022 £ 44,271 96,183 (14,971) 81,212 |
2021 £ 35,390 20,427 16,514 36,941 |
|---|---|---|
Financial review of the position at the reporting date, 31 March 2022 .
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Policies on reserves.
Urban MBA maintains 3 months income as a reserve.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund..
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
Details of The Independent Examiner
D R Donnelly
Member of the Chartered Association of Certified Accountants
11 Anton Street London E8 2AD
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Urban MBA
Trustees' Annual Report for the year ended 31 March 2022
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 30 January 2023.
Sheromie Brewster Trustee
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Urban MBA
Report of the Independent Accountant to the Trustees of the charity on the accounts for the year ended 31 March 2022
We report on the financial statements of Urban MBA for the year ended 31 March 2022, as set out on pages 12 to 20, which comprise the Statement of Financial Activities, the Income and Expenditure Account, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements of the charity are prepared, in all material respects, in accordance with charity law applicable within the jurisdiction of England & Wales and the accounts have been prepared in accordance with FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, under the historical cost convention, and in accordance with the accounting policies set out on page 19, which framework constitutes the applicable United Kingdom Generally Accepted Accounting Practice.
Respective responsibilities of the directors and the accountant
As described on page 9, you, the charity's Trustees are responsible for the preparation of the accounts.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. The Trustees also consider the charity to be exempt from the requirement to be subject to Independent Examination.
Our responsibility is to prepare accounts upon the basis of the information supplied to us, without conducting any formal scrutiny.
No statement of opinion
We have not carried out any audit procedures and have relied upon information supplied to us by the Trustees, and the information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently we do not express an audit or other assurance opinion on the view given by the accounts.
Signed:-
D R Donnelly - Independent Accountant
Certified Accountant
11 Anton Street London E8 2AD
This report was signed on 30 January 2023
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Urban MBA - Statement of Financial Activities for the year ended 31 March 2022
Statement of Financial Activities for the year ended 31 March 2022
| SORP Ref Income & Endowments from: Current year Unrestricted Funds 2022 £ Donations & Legacies Charitable activities Other trading activities Total income A1 90,406 A2 300 A3 32,160 A 122,866 Expenditure on: Raising funds Charitable activities Total expenditure B1 - B2 47,110 B 47,110 Net income for the year 75,756 Net income after transfers A-B-C 75,756 Net movement in funds 75,756 Reconciliation of funds:- E Total funds brought forward Total funds carried forward 20,427 96,183 |
Current year Restricted Funds 2022 £ 9,992 2,000 21,268 33,260 - 64,745 64,745 (31,485) (31,485) (31,485) 16,514 (14,971) |
Current year Total Funds 2022 £ 100,398 2,300 53,428 156,126 - 111,855 111,855 44,271 44,271 44,271 36,941 81,212 |
Prior Year Total Funds 2021 £ 87,764 - 23,470 |
|---|---|---|---|
| 111,234 | |||
| 1,690 74,154 |
|||
| 75,844 | |||
| 35,390 | |||
| 35,390 | |||
| 35,390 1,551 |
|||
| 36,941 |
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All activities derive from continuing operations.
The notes attached on pages 19 to 20 form an integral part of these accounts.
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Urban MBA - Statement of Financial Activities for the year ended 31 March 2022
Urban MBA - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP
| SORP Ref Income & Endowments from: Donations & Legacies Charitable activities Other trading activities Investments Other A1 A2 A3 A4 A5 Total income A Expenditure on: Raising funds B1 Charitable activities B2 Other B3 Tax on surplus on ordinary activ B3 Other taxation B3 Total expenditure Net gains on investments B B4 Net income for the year Transfers between funds C Net income after transfers Net movement in funds Reconciliation of funds:- E Total funds brought forward Total funds carried forward |
Prior Year Unrestricted Funds 2021 £ 54,100 - 11,470 - - 65,570 1,690 42,944 - - - 44,634 - 20,936 - 20,936 20,936 (509) 20,427 |
Prior Year Restricted Funds 2021 £ 33,664 - 12,000 - - - 45,664 - 30,196 - - - - 30,196 - 15,468 - 15,468 15,468 2,060 17,528 |
Prior Year Total Funds 2021 £ 87,764 - 23,470 - - 111,234 1,690 74,154 - - - 75,844 - 35,390 - 35,390 35,390 1,551 |
|---|---|---|---|
| 36,941 |
All activities derive from continuing operations.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.'
The notes attached on pages 19 to 20 form an integral part of these accounts.
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Urban MBA - Statement of Financial Activities for the year ended 31 March 2022
Urban MBA - Resources applied in the year ended 31 March 2022 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications of funds Net resources available to fund charitable activities |
2022 £ 44,271 - - 44,271 |
2021 £ 35,390 (431) - |
|---|---|---|
| 34,959 |
The notes attached on pages 19 to 20 form an integral part of these accounts.
Movements in revenue and capital funds for the year ended 31 March 2022
Revenue accumulated funds
| Accumulated funds brought forward Recognised gains and losses before transfers Closing revenue funds Summary of funds Revenue accumulated funds |
Unrestricted Funds 2022 £ 20,427 75,756 96,183 96,183 Unrestricted and Designated funds 2022 £ 96,183 |
Restricted Funds 2022 £ 16,514 (31,485) (14,971) (14,971) Restricted Funds 2022 £ (14,971) |
Total Funds 2022 £ 36,941 44,271 81,212 81,212 Total Funds 2022 £ 81,212 |
Last year Total Funds 2021 £ 1,551 35,390 |
|---|---|---|---|---|
| 36,941 | ||||
| 36,941 | ||||
| Last Year Total Funds 2021 £ 36,941 |
The notes attached on pages 19 to 20 form an integral part of these accounts.
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Urban MBA - Statement of Financial Activities for the year ended 31 March 2022
Urban MBA
Income and Expenditure Account for the year ended 31 March 2022 as required by the Companies Act 2006
| Income Income from operations Refunds from HMRC on gift aided donations Investment income Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Realised losses on disposals of social investments which are programme related Total expenditure in the year Net income before tax in the financial year Tax on surplus on ordinary activities Net income after tax in the financial year Retained surplus for the financial year |
2022 £ 156,126 - 156,126 156,126 111,155 - - 700 - 111,855 44,271 - 44,271 44,271 |
2021 £ 98,570 12,664 |
|---|---|---|
| 111,234 | ||
| 111,234 | ||
| 73,337 27 1,690 790 - |
||
| 75,844 | ||
| 35,390 - |
||
| 35,390 | ||
| 35,390 |
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 19 to 20 form an integral part of these accounts.
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Urban MBA - Balance Sheet as at 31 March 2022
| SORP NoteRef Fixed assets A Tangible assets 7 A2 Current assets Stocks Debtors Cash at bank and in hand B B1 9 B2 B4 Total current assets Creditors: amounts falling due within one year 10 C1 Net current assets The total net assets of the charity The total net assets of the charity are funded by the Restricted funds Restricted Revenue Funds Unrestricted Funds Unrestricted Revenue Funds Designated Funds 15 D2 15 D3 Total charity funds |
2022 £ 1 113 113 45,323 25,748 36,475 11,079 81,911 36,940 (700) - 81,211 81,212 funds of the charity, as follows:- (14,971) 96,183 16,514 (14,971) 20,427 96,183 81,212 |
113 25,748 11,079 |
2021 £ 1 36,940 |
|---|---|---|---|
| 36,940 - |
|||
| 36,941 | |||
16,514 20,427 |
|||
| 36,941 |
18
Urban MBA - Balance Sheet as at 31 March 2022
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Bernie J Mitchell
Trustee Approved by the board of trustees on 30 January 2023
The notes attached on pages 19 to 20 form an integral part of these accounts.
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Urban MBA
Notes to the Accounts for the year ended 31 March 2022
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
Under 3.38 and to comply with 3.14, if there are no uncertainties about going concern this MUST be stated. Under 3.39, if there are uncertainties details must be given. Enter text here to comply
Suggested normal text (whioch may require modification to meet the circumstances):-
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 December 2022, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
Urban MBA
Notes to the Accounts for the year ended 31 March 2022
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Urban MBA
Notes to the Accounts for the year ended 31 March 2022
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note5.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
Creditors are measured at their outstanding amounts at the balance sheet date.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
Urban MBA
Notes to the Accounts for the year ended 31 March 2022
4 Net surplus before tax in the financial year
2022 2021 £ £ The net surplus before tax in the financial year is stated after charging:Depreciation of owned fixed assets - 27
5 The contribution of volunteers
The charity depends on the support of its volunteers, which is much appreciated. The charity had 112 Volunteers who donated 1,847 hours of their time stewarding events. Other volunteers undertook 40 hours of mailings and distributions and two specialist volunteers with DBS checks, spent 475 hours a year supporting the weekly children’s and young people’s writing groups. It is estimated that without the help of volunteers, the Festival would need to find the equivalent of over £20,000 to obtain similar services. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
6 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
7 Tangible fixed assets
| Current Year Cost At 1 April 2021 At 31 March 2022 Depreciation At 1 April 2021 At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Land and Buildings £ - |
Plant & Machinery £ 28 |
Motor Vehicles £ - - - - - - |
Total Total £ £ 28 28 |
|---|---|---|---|---|
| - | 28 | 28 28 |
||
| - | 27 | 27 27 |
||
| - | 27 | 27 27 |
||
| - | 1 | 1 1 |
||
| - | 1 | 1 1 |
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Notes to the Accounts for the year ended 31 March 2022
----- Start of picture text -----
8 Stocks & Work in Progress 2022 2021
£ £
Stocks before write downs 113 113
113 113
Analysis of the carrying value of stocks and work in progress by activities
Work in Progress Stocks
2022 2021 2022 2021
£ £ £ £
Activity
Primary purpose and ancillary trad - - 113 113
- - 113 113
9 Debtors
2022 2021
£ £
Trade debtors 45,323 25,748
10 Creditors: amounts falling due within one year 2022 2021
£ £
Accruals 700 -
11 Loans to trustees included in debtors
There are none
----- End of picture text -----
----- Start of picture text -----
12 Guarantees made by the charity on behalf of trustees
There are none
----- End of picture text -----
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Notes to the Accounts for the year ended 31 March 2022
| 13 Income and Expenditure account summary At 1 April 2021 Surplus after tax for the year At 31 March 2022 |
2022 £ 36,941 44,271 81,212 |
2021 £ 1,551 35,390 |
|---|---|---|
| 36,941 |
14 Particulars of how particular funds are represented by assets and liabilities
| At 31 March 2022 Tangible Fixed Assets Current Assets Current Liabilities At 1 April 2021 Tangible Fixed Assets Current Assets |
Unrestricted funds £ 1 96,882 (700) |
Designated funds £ - - |
Restricted funds £ - (14,971) - (14,971) Restricted funds £ - 16,514 16,514 |
Total Total Funds Funds £ £ 1 1 81,911 81,911 (700) (700) |
|---|---|---|---|---|
| 96,183 | - | 81,212 81,212 |
||
| Unrestricted funds £ 1 20,426 |
Designated funds £ - - |
Total Total Funds Funds £ £ 1 1 36,940 36,940 |
||
| 20,427 | - | 36,941 36,941 |
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Notes to the Accounts for the year ended 31 March 2022
15 Change in total funds over the year as shown in Note 14 , analysed by individual funds
| Unrestricted and designated f Unrestricted Revenue Funds Total unrestricted and designa Restricted funds:- Hackney council Lawrence Atwell Kick Start Erasmus On Line Courses BBC Children in need Make My Mark Unidentified Grounworks Total restricted funds Total charity funds |
Funds brought forward from 2021 £ unds:- 20,427 |
Movement in funds in 2022 See Note 16 £ 75,756 |
Transfers between funds in 2022 See Note 0 £ - - - - - - - - - - - - - |
Funds carried forward to 2023 £ Funds carried forward to 2023 £ 96,183 96,183 |
|---|---|---|---|---|
| t 20,427 |
75,756 | 96,183 96,183 |
||
| - - - (2,379) - 2,592 97 14,598 1,606 |
2,000 (135) (1) (33,498) (4,893) 5,042 - - - |
2,000 (135) (1) (35,877) (4,893) 7,634 97 14,598 1,606 2,000 (135) (1) (35,877) (4,893) 7,634 97 14,598 1,606 |
||
| 16,514 | (31,485) | (14,971) (14,971) |
||
| 36,941 | 44,271 | 81,212 81,212 |
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Notes to the Accounts for the year ended 31 March 2022
16 Analysis of movements in funds over the year as shown in Note 15
| Unrestricted and designated f Unrestricted Revenue Funds Unrestricted Revaluation Reserv Restricted funds:- Hackney Council Lawrence Atwell Kickstart Erasmus On line Courses BBC Children in need |
Income 2022 £ unds:- e 122,866 - 2,000 7,200 14,068 - - 9,992 |
Expenditure 2022 £ (47,110) - - (7,335) (14,069) (33,498) (4,893) (4,950) |
Other Gains & Losses 2022 £ - - - - - - - - - |
Movement in funds 2022 £ Movement in funds 2022 £ 75,756 - 2,000 (135) (1) (33,498) (4,893) 5,042 - 75,756 - 2,000 (135) (1) (33,498) (4,893) 5,042 |
|---|---|---|---|---|
| 156,126 | (111,855) | 44,271 44,271 |
17 The purposes for which Unrestricted and designated funds:-
These funds are held for the meeting the objectives of the charity, Unrestricted Revenue Funds[and to provide reserves for future activities, and , subject to charity ] legislation, are free from all restrictions on their use.
Unrestricted Revaluation Reserve
This fund represents the unrestricted surplus arising on the revaluation of the charity's assets.
Restricted funds:-
Restricted Fixed Asset Funds Restricted Revaluation Reserve
The purpose of these funds is described under the accounting policy 'Accounting for capital grants and fixed asset funds'.
This fund represents the restricted surplus arising on the revaluation of the charity's assets.
Course in October
Hackney council
Lawrence Atwell
1 year course
Kick Start
Kick Start
Direct Public Grants - Non Profit Organisation Grants
Erasmus
On Line Courses
Course funding
E U funding
Funding on line course
Children
BBC Children in need
Grants for young people
Make My Mark Grounworks Metaverse projrect -
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
19 Donations, Grants and Legacies
| Donations, Grants and Legacies | ||||
|---|---|---|---|---|
| Donations and gifts from individuals Refunds from HMRC on gift aided donations Total donations and gifts from individuals |
Current year Unrestricted Funds 2022 £ - |
Current year Restricted Funds 2022 £ - |
Current year Total Funds 2022 £ - |
Prior Year Total Funds 2021 £ 12,664 |
| - | - | - | 12,664 |
All the donations and gifts in the prior year were unrestricted.
Donations and gifts from individuals (Include HMRC refunds on gift aided donations) - Prior Year analysis
Prior year
| Prior Year | Prior Year | Prior Year |
|---|---|---|
| Unrestricted | Restricted | Total Funds |
| Funds | Funds | |
| 2021 | 2021 | 2021 |
| £ | £ | £ |
| - | 12,664 | 12,664 |
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
| Revenue grants from government and public bodies BB UK Crazy Vintage Lstn Up Ldn Derwent London Hackney Council BBC Children in need Big Lottery Fund PayPugs Capital British Council Total public sector revenue grants |
Current year Unrestricted Funds 2022 £ - - - - - - 43,220 4,916 42,270 |
Current year Restricted Funds 2022 £ - - - - - 9,992 - - - |
Current year Total Funds 2022 £ - - - - - 9,992 43,220 4,916 42,270 |
Prior Year Total Funds 2021 £ 50,000 100 4,000 10,000 11,000 - - - - |
|---|---|---|---|---|
| 90,406 | 9,992 | 100,398 | 75,100 |
All the grants in the prior year were unrestricted.
Revenue grants from government and public bodies - Prior Year analysis
| Prior Year | Prior Year Unrestricted Funds 2021 £ 54,100 |
Prior Year Restricted Funds 2021 £ 21,000 |
Prior Year Total Funds 2021 £ 75,100 |
|---|---|---|---|
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
Total Donations, Grants and Legacies
| Total Donations, Grants and Legacies | ||||
|---|---|---|---|---|
| Total Donations, Grants and Legacies A1 90,406 All the donations and gifts in the prior year were unrestricted. Unrestricted Prior year Funds 2021 £ |
90,406 | 9,992 | 100,398 | 87,764 |
| Restricted Funds 2021 £ |
Prior Year Total Funds 2021 £ |
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
| European Co Working Assembly European Coworking Assembly Total European Co Working Assembly Hackney Council Other Total Charitable income from funders:- Current year - income from funders 20 Total Income from charitable activities Current year Income from funders Total from charitable activities A2 |
Current year Funds 2022 £ 300 |
Current year Funds 2022 £ - |
Current year Total Funds 2022 £ 300 |
Prior Year Total Funds 2021 £ - |
|---|---|---|---|---|
| 300 | - | 300 | - | |
| Unrestricted Funds 2022 £ |
Restricted Funds 2022 £ |
Total Funds 2022 £ |
Prior Year Total Funds 2021 £ |
|
| 300 | 2,000 | 2,300 | - | |
| Current year Unrestricted Funds 2022 £ 300 |
Current year Restricted Funds 2022 £ 2,000 |
Current year Total Funds 2022 £ 2,300 |
Prior Year Total Funds 2021 £ - |
|
| 300 | 2,000 | 2,300 | - |
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Urban MBA
Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
21 Income from other, non charitable, trading activities
| Trading activities to raise funds for the charity Total from other activities A3 All the income in the prior year was unrestricted. Income from other, non charitable, trading activities Prior Year |
Current year Unrestricted Funds 2022 £ 32,160 |
Current year Restricted Funds 2022 £ 21,268 |
Current year Total Funds 2022 £ 53,428 |
Prior Year Total Funds 2021 £ 23,470 |
|---|---|---|---|---|
| 32,160 | 21,268 | 53,428 | 23,470 | |
| Total Funds 23,470 |
22 Expenditure on charitable activities - Direct spending
| Current Year Competition reward Course Tutoring Video Erasmus Project Payments Kickstart payments International Ghana Total direct spending B2a All the expenditure in the prior year was unrestricted. Prior Year Competition reward Course Tutoring Total direct spending B2a |
Current year Unrestricted Funds 2022 £ - - - - - 50 |
Current year Restricted Funds 2022 £ 750 300 3,748 33,436 8,366 - |
Current year Total Funds 2022 £ 750 300 3,748 33,436 8,366 50 |
Prior Year Total Funds 2021 £ 4,550 480 3,814 - - - |
|---|---|---|---|---|
| 50 | 46,600 | 46,650 | 8,844 | |
| Prior Year Unrestricted Funds 2021 £ - - |
Prior Year Restricted Funds 2021 £ 4,550 480 |
Prior Year Total Funds 2021 £ 4,550 480 |
||
| 2,800 | 5,030 | 8,844 |
All the expenditure in the prior year was unrestricted.
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
23 Expenditure on charitable activities - Charitable trading
| Current Year Facility and Equipment - Rent Parking & Utilities Facilities & Equipment Staff development First aid Total charitable trading costs B2b All the expenditure in the prior year was unrestricted. Prior Year Facilities & Equipment Total charitable trading costs B2b |
Current year Unrestricted Funds 2022 £ 4,244 43 600 111 |
Current year Restricted Funds 2022 £ - 500 - - |
Current year Total Funds 2022 £ 4,244 543 600 111 Prior Year Total Funds 2021 £ 5,295 1,726 - - |
|---|---|---|---|
| 4,998 | 500 | 5,498 7,021 |
|
| Prior Year Unrestricted Funds 2021 £ 294 |
Prior Year Restricted Funds 2021 £ 1,432 |
Prior Year Total Funds 2021 £ 1,726 |
|
| 5,589 | 1,432 | 7,021 | |
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
24 Expenditure on charitable activities- Grant funding of activities
| Current Year Grants made to individuals Erasmus Travel Competition Reward Children in Need Total grantmaking costs B2c Prior Year Erasmus Travel Competition Reward Children in Need Total grantmaking costs B2c |
Current year Unrestricted Funds 2022 £ 160 - - - |
Current year Restricted Funds 2022 £ - 62 - 3,950 |
Current year Total Funds 2022 £ 160 62 - 3,950 Prior Year Total Funds 2021 £ - 2,703 320 9,672 |
|---|---|---|---|
| 160 | 4,012 | 4,172 12,695 |
|
| Prior Year Unrestricted Funds 2021 £ - - - |
Prior Year Restricted Funds 2021 £ 2,703 320 9,672 |
Prior Year Total Funds 2021 £ 2,703 320 9,672 12,695 |
|
| - | 12,695 |
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
25 Support costs for charitable activities
| 25 Support costs for charitable activities | 25 Support costs for charitable activities | 25 Support costs for charitable activities | ||
|---|---|---|---|---|
| Current Year Volunteer costs Volunteers' expenses Travel and subsistence - volunteers Meals and Entertaining Clothing Premises Expenses Premises repairs, renewals and maintenance Property insurance Administrative overheads Telephone, fax and internet Postage Stationery and printing Information and publications Subscriptions to periodicals Hire of equipment Health and safety costs Advertising and marketing Sundry expenses Web Hosting Cash Expenses Donations General Administration Contracting Services Current year Unrestricted Funds 2022 £ 3,856 2,795 4,884 633 - 498 398 219 - 782 390 5,135 - 432 2,650 3,078 901 - 5,415 9,136 Current year Restricted Funds 2022 £ 6,703 - 4,884 - - - - - 260 - 778 107 - - - - 901 - - - Professional fees paid to advisors other than the auditor or examiner Legal fees - - Financial costs Depreciation & Amortisation in total Support costs before reallocation Total support costs - Current Year - - 41,202 13,633 41,202 13,633 The basis of allocation of costs between activities is described under accounting policies |
Current year Total Funds 2022 £ 10,559 2,795 9,768 633 - 498 398 219 260 782 1,168 5,242 - 432 2,650 3,078 1,802 - 5,415 9,136 - - |
Prior Year Total Funds 2021 £ 9,392 1,397 7,950 - 4,258 282 215 65 - 675 69 - 55 - 396 3,474 1,306 321 285 13,827 810 27 |
||
| 41,202 | 13,633 | 54,835 | 44,804 | |
| 41,202 | 13,633 | 54,835 | 44,804 | |
| - - - |
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
| Prior Year Volunteer costs Volunteers' expenses Travel and subsistence - volunteers Meals and Entertaining Administrative overheads Web Hosting Cash Expenses Contracting Services Support costs before reallocation Total support costs - Prior Year |
Current year Unrestricted Funds 2022 £ 8,408 931 4,728 1,704 434 10,102 |
Current year Restricted Funds 2022 £ 984 466 3,222 1,770 872 3,725 |
Prior Year Total Funds 2021 £ 9,392 1,397 7,950 3,474 1,306 13,827 |
|---|---|---|---|
| 33,765 | 11,039 | 44,804 44,804 |
|
| 33,765 | 11,039 |
The basis of allocation of costs between activities is described under accounting policies
26 Other Expenditure - Governance costs
| Current Year Reporting Accountant fees Total Governance costs |
Current year Unrestricted Funds 2022 £ 700 |
Current year Restricted Funds 2022 £ - |
Current year Total Funds 2022 £ 700 |
Prior Year Total Funds 2021 £ 790 |
|---|---|---|---|---|
| 700 | - | 700 | 790 |
All the expenditure in the prior year was unrestricted.
27 Total Charitable expenditure
| Current Year Total direct spending B2a Total charitable trading costs B2b Total grantmaking costs B2c Total support costs B2d Total Governance costs B2e Total charitable expenditure B2 |
Current year Unrestricted Funds 2022 £ 50 4,998 160 41,202 700 |
Current year Restricted Funds 2022 £ 46,600 500 4,012 13,633 - |
Current year Total Funds 2022 £ 46,650 5,498 4,172 54,835 700 |
Prior Year Total Funds 2021 £ 8,844 7,021 12,695 44,804 790 |
|---|---|---|---|---|
| 47,110 | 64,745 | 111,855 | 74,154 |
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Detailed analysis of income and expenditure for the year ended 31 March 2022 as required by the SORP 2015
| Prior Year Total direct spending B2a Total charitable trading costs B2b Total grantmaking costs B2c Total support costs B2d Total Governance costs B2e Total charitable expenditure B2 |
Prior Year Unrestricted Funds 2021 £ 2,800 5,589 - 33,765 790 |
Prior Year Restricted Funds 2021 £ Prior Year Total Funds 2021 £ 5,0308,844 1,4327,021 12,69512,695 11,03944,804 -790 |
|---|---|---|
| 42,944 | 30,196 74,154 |
28 Expenditure on raising funds and costs of investment management
Marketing & advertising of fundraising - - - 1,690 To[tal fu] nd[raisi] n[g c] o[sts ] B1[- - - 1][,][690 ]
All the expenditure in the prior year was unrestricted.
38