**REGISTERED COMPANY NUMBER: 09161978 (England and Wales) REGISTERED CHARITY NUMBER: 1167219**
**REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **FOR**
**THE SECRET SPACE LIMITED (A COMPANY LIMITED BY GUARANTEE)**
FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
**THE SECRET SPACE LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2021**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Notes to the Financial Statements**|9|to|15|
|**Detailed Statement of Financial Activities**|16|to|17|
**THE SECRET SPACE LIMITED**
## **REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 MARCH 2021**
**TRUSTEES** Mr K F Crowley (resigned 31.12.20) Mr P C Massetti Ms V N Apperley Ms S Newmarch (appointed 31.12.20) **REGISTERED OFFICE** 105 Fore Street Hertford Hertfordshire SG14 1AS **REGISTERED COMPANY** 09161978 (England and Wales) **NUMBER REGISTERED CHARITY** 1167219 **NUMBER INDEPENDENT EXAMINER** FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
Page 1
**THE SECRET SPACE LIMITED**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Secret Space is a yoga and complementary therapies social enterprise operating in Hertford, offering a range of services to the general public, including yoga and pilates classes, yoga therapy, yoga for people with physical limitations, massage therapies, courses in holistic therapies - provided by recruited and trained service users and external therapists, other complementary therapies, birthing classes, meditation, mindfulness, chanting, room rental opportunities, such as to local counsellors, workshops - yoga, meditation, mindfulness and free space to local community groups.
The Secret Space's mission statement is to offer those who have been socially excluded a chance to reintegrate through the provision of apprentice and volunteer posts. Volunteers are variously people who are:
- in recovery from drug and alcohol problems.
- in recovery from, or living with, mental health problems.
- living with physical disabilities.
- domestic violence survivors.
- retired.
- long term unemployed.
- carers
The Secret Space is beneficial to the public in:
- providing a space for the public to relax away from their everyday lives;
- learning important skills in terms of looking after themselves physically and mentally;
- that volunteers who maintain their recovery will draw less from public monies in terms of rehabilitation or criminal justice processes;
- increasing local employment;
- bringing the local community together in a positive setting;
- providing the public with an increased awareness of issues connected to those who are socially excluded in a non-judgemental way.
## **Public benefit**
The trustees have had regard to the Charity Commission's guidance on public benefit.
Page 2
**THE SECRET SPACE LIMITED**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2021**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year 2020-21 the nation continued to be hit by the global pandemic and we, like all other well being centres, had to close our doors. This had a dramatic impact on our ability to work with volunteers, however, we have still been able to contribute to and support 7 volunteers. Of those 2 of those are in recovery from substance misuse, of which both have dual diagnosis, 1 has mental health issues, 1 is a carer and 1 is a retiree, 1 had lost her job and her confidence and 1 was trying to create a new life for herself within the yoga world.
We continued to support our volunteers during the Covid-19 pandemic and fulfil on our charitable aims as best we can. As the centre has been closed mostly, their usual involvement as a volunteer at the centre has not been available. So we explored other options. Our experience is that one of the most important things for our volunteers is to stay connected and feel they have a sense of purpose, so we looked for new ways for them to be involved that operated inside the government social distancing measures.
In March 2020, we created an online volunteers' yoga class to offer them all ongoing support dealing with anxiety and well being. We also created a Volunteer WhatsApp group for them to provide each other with peer support and we held regular sessions on Zoom to have a check in and see how everyone was doing, and provide a continual community connection. We have offered them free of charge online yoga and Pilates classes, weekly meditation sessions and free spaces on meditation and online personal development courses and retreats.
We stayed in close contact with them all and when government restrictions allowed we were able to give them opportunities to assist online or at the centre. One of our volunteers came in regularly to clean the courtyard and do some health and safety checks for us. Another tends to online admin and customer liaison from her home. 1 volunteer comes in to help with the covid-safe cleaning of the studio and equipment in between classes. 1 volunteer has taken on looking for funding streams for us. We arranged funding to provide one of our volunteers with online training to be a yoga teacher and have offered her 2 regular teaching sessions with us. We are currently supporting another of our volunteers as she participates in our 3-Year British Wheel of Yoga Teacher Training Diploma and she now teaches online classes and courses with us.
As an addition we have been able to give 4 of the trainees on the course new classes with us, thus starting them on their new yoga teaching career. The volunteer who had lost her job began to regain her confidence through her involvement with us and went on to get herself a good job that she is happy with.
The Covid-19 situation meant that due to closure we were unable to offer our usual services to the community, however, we achieved what felt like the impossible and within 4 days of being in lock-down we had moved our whole service to online delivery. This meant that all the classes and courses we had been offering in the Studio, were now available via Zoom. Obviously, we couldn't provide holistic therapies online, and they had to wait until government guidelines and the appropriate professional organisations enabled them to start treating again.
Most of the teachers came on board with the new way of delivering classes and swiftly learnt how to navigate Zoom. We developed new networking relationships with other studios as we all learnt to do this together.
While creating a new pricing structure that was competitive with other studios, we were also mindful to keep our prices low so that all those on a low income, or no income, would be able to participate. We offered a sliding scale and clients could choose how much they could afford to pay. We continued to support different areas of the community and offered free classes. As part of our community support we offered free classes to all NHS staff and keyworkers
We began collaborating with The Connection Project in Norfolk to offer joint free Chair Yoga classes for those with issues of limited mobility. These were delivered by the volunteer who we had funded to train as a teacher. We also jointly offered free menopause yoga sessions, Reiki healing circles, and meditation and chanting evenings.
At the beginning of lock-down The Secret Space continued to offer free and discounted places in some classes for those who suffer from addiction or mental health issues, depression and anxiety. We created special online classes for those groups who may feel too vulnerable to attend regular classes, so that they could still receive support. Unfortunately the take-up of this gradually petered out and so we let the class go temporarily. We have plans to re-introduce the service in person in September 2021 and liaise with local agencies.
Page 3
**THE SECRET SPACE LIMITED**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2021**
We continue to evolve our timetable of classes. This means that we let go of classes that are not popular and try different styles or teachers. Some of our popular teachers were not able to take on teaching online so temporarily they have left us. With the various easing of social distancing restrictions during the year, we were able to have between 3 and 5 people attending classes in the studio while offering the classes online also. These have become known throughout the industry as hybrid classes. The Secret Space is known locally as a place of excellence and even during lock down we have had internationally recognised yoga teachers offering guest workshops for us.
Our Holistic Therapies department was able to offered some services online, such as Nutrition Consultations. The whole department moved from strength to strength once they were able to treat people again and we found that people in the community were very much in need for touch and connection. Our Counselling services have moved online and the therapists and we have introduced new therapists to offer services for teens.
We have taken our role as part of the community very seriously and we have looked for every opportunity to offer services to support people. We even ran free online meditations on Christmas Day and New Years Eve so that anyone feeling the pang of loneliness might attend and feel part of the community. We are now looking at ways of developing services to support people suffering from loneliness and anxiety, caused by the enforced and prolonged lock-down.
## **FINANCIAL REVIEW**
## **Financial position**
The charity continued to deliver services throughout the year, though much reduced, and reported an income of £55,638 from its activities. It received support from governmental coronavirus business grants of £44,480. This has enabled The Secret Space to deliver its charitable purpose.
This year marked an end of the association with parent company Change Grow Live and from April 2021 The Secret Space became a fully independent charity. They gifted the charity a parting donation of £40,000 to support the charity in the coming year (2020: £Nil).
## **Reserves policy**
The trustees have agreed a policy whereby unrestricted funds should be maintained at a level sufficient to cover the charity's expenses for a minimum of three months. This policy allows for a reduction in income during any part of the year whilst allowing the charity to continue performing its activities at the current level.
The balance carried forward in reserves as at 31 March 2021 was £63,471 (2020: £31,323)
## **FUTURE PLANS**
Covid 19 Government guidelines and social distancing rules has meant that revenues from studio classes have been severely reduced; down by some 73% on the previous year. We believe that as restrictions are lifted and people start returning to physical classes, revenues will improve. On the basis that we do see improvement, our longer-term aim is to seek out larger premises so we can offer larger classes plus additional areas offering more therapies, treatments and increase our volunteer numbers. The Secret Space anticipates a growth in class attendance, improved revenues and subsequent investment in new projects.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Secret Space was a wholly owned subsidiary of change, grow, live, which is also a registered charity, until 31 March 2021..
Page 4
**THE SECRET SPACE LIMITED**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
The Secret Space is committed to equal opportunities and operates an open recruitment process to attract individuals with the necessary skill set and commitment to help us succeed. Applicants will be sought through advertisement and are invited to a formal interview with the trustees as well as the business management. References are taken up before an appointment is made. Trustees may serve up to two, three-year terms of office. All trustees would receive a full induction and participate in any on-going training events.
The Trustees and Directors who served during the year and at the date of approval of the accounts were:
KF Crowley (now left) Victoria Apperley Phil Massetti Siobhan Newmarch
## **Risk management**
The trustees have a risk management strategy which comprises regular review of the principal risks and uncertainties that the charity faces, the establishment of policies, systems and procedures to mitigate those risks identified and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. These risks are focussed on both financial and non-financial risks (eg arising from fire, health and safety) and during this financial year were assessed in conjunction with change, grow, live.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 9 December 2021 and signed on its behalf by:
Mr P C Massetti - Trustee
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SECRET SPACE LIMITED**
## **Independent examiner's report to the trustees of The Secret Space Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **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 statement**
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 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.
Tara Aldwin ACA Institute Of Chartered Accountants, England & Wales FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
Date: .............................................
Page 6
## **THE SECRET SPACE LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MARCH 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
88,657
**Charitable activities**
3
Yoga and complimentary therapies
55,638
Investment income
2
2,700
**Total**
146,995
**EXPENDITURE ON**
**Charitable activities**
Yoga and complimentary therapies
114,847
**NET INCOME/(EXPENDITURE)**
32,148
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
31,323
**TOTAL FUNDS CARRIED FORWARD**
63,471|Restricted
fund
£
1,350
-
-
1,350
1,350
-
-
-|2021
Total
funds
£
90,007
55,638
2,700
148,345
116,197
32,148
31,323
63,471|2020
Total
funds
£
405
206,036
-
206,441
221,229
(14,788)
46,111
31,323|
|---|---|---|---|
The notes form part of these financial statements
Page 7
## **THE SECRET SPACE LIMITED**
## **BALANCE SHEET 31 MARCH 2021**
|Unrestricted
Restricted
fund
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
7
340
-
**CURRENT ASSETS**
Debtors
8
16,384
-
Cash at bank and in hand
73,487
-
89,871
-
**CREDITORS**
Amounts falling due within one year
9
(26,740)
-
**NET CURRENT ASSETS**
63,131
-
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
63,471
-
**NET ASSETS**
63,471
-
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|2021
Total
funds
£
340
16,384
73,487
89,871
(26,740)
63,131
63,471
63,471
63,471
63,471|2020
Total
funds
£
557
15,814
40,780
56,594
(25,828)
30,766
31,323
31,323
31,323
31,323|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary charitable companies for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 9 December 2021 and were signed on its behalf by:
Mr P C Massetti - Trustee
The notes form part of these financial statements
Page 8
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The global coronavirus pandemic and lock down has impacted the charity's activities and income. Due to the restrictions in-person classes and treatments had to cease, and whilst they resumed once restrictions were lifted in the next financial year, attendance remains lower and uncertainty remains over how quickly revenues will return to pre-pandemic levels.
The trustees are looking to diversify income streams and attract new funding in order to support activities whilst the pandemic recovery continues. These efforts, together with the current reserves give the Trustees reasonable expectation that the charity has sufficient resources to continue to operate for at least the next 12 months. Accordingly the going concern basis has been adopted.
The presentation currency of the financial statements is GBP.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Government grants**
Government grants are recognised in the statement of financial activities within other income when it is deemed to be receivable by the charity.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost Computer equipment - 33% on cost
Individual fixed assets costing £500 or more are capitalised at cost.
continued...
Page 9
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
All tangible fixed assets held for the charities own use are stated at cost less accumulated depreciation and accumulated impairment losses.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Donated goods**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the company is not recognised.
## **Creditors**
Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.
## **2. INVESTMENT INCOME**
## **3.**
|Rents received
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Shop income
Yoga and complimentary therapies
Retreat income
Yoga and complimentary therapies|2021
£
2,700
2021
£
55,638
-
55,638|2020
£
-
2020
£
191,986
14,050
206,036|
|---|---|---|
continued...
Page 10
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2021**
## **4. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|||2021|2020|
|---|---|---|---|
|||£|£|
|Independent|examiner's remuneration|720|720|
|Independent|examiner's remuneration - other services|6,754|6,552|
|Depreciation|- owned assets|217|434|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **6. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management
Administration|2021
£
37,171
3,511
986
41,668
2021
1
1
2|2020
£
36,971
3,379
953
41,303
2020
1
1
2|
|---|---|---|
No employees received emoluments in excess of £60,000.
Aggregate emoluments for key management totalled £37,171 (2020: £36,971).
continued...
Page 11
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2021**
## **7. TANGIBLE FIXED ASSETS**
|**7.**|**TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|---|
||||Fixtures|||||
|||||and||Computer||
||||fittings|||equipment|Totals|
|||||£||£|£|
||**COST**|||||||
||At 1 April 2020 and 31 March 2021|||1,491||612|2,103|
||**DEPRECIATION**|||||||
||At 1 April 2020|||1,478||68|1,546|
||Charge for year|||13||204|217|
||At 31 March 2021|||1,491||272|1,763|
||**NET BOOK VALUE**|||||||
||At 31 March 2021||||-|340|340|
||At 31 March 2020|||13||544|557|
|**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
||Trade debtors|||||2021
£
184|2020
£
152|
||Other debtors|||||3,764|5,537|
||Prepayments and accrued income|||||12,436|10,125|
|||||||16,384|15,814|
|**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
||Trade creditors|||||2021
£
2,910|2020
£
-|
||Social security and other taxes|||||772|836|
||Accrued expenses|||||23,058|24,992|
|||||||26,740|25,828|
||Included within accruals is a provision for dilapidation costs on the property|||||which The Secret|Space Lim|
||occupy. The movement on this accounts is as follows:|||||||
||Provision brought forward at 1 April 2020|£18,300||||||
||Dilapidation costs in year|£NIL||||||
||Provisions carried forward at 31 March 2021|£18,300||||||
|||||||||
Included within accruals is a provision for dilapidation costs on the property which The Secret Space Limited occupy. The movement on this accounts is as follows:
continued...
Page 12
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2021**
## **10. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years|2021
£
6,833
-
6,833|2020
£
20,500
6,833
27,333|
|---|---|---|
**11. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Teacher training
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.20
£
31,323
31,323
Incoming
resources
£
146,995
1,350
148,345
At 1.4.19
£
46,111
46,111|Net
movement
At
in funds
31.3.21
£
£
32,148
63,471
32,148
63,471
Resources
Movemen
expended
in funds
£
£
(114,847)
32,148
(1,350)
-
(116,197)
32,148
Net
movement
At
in funds
31.3.20
£
£
(14,788)
31,323
(14,788)
31,323|
|---|---|---|
continued...
Page 13
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2021**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
206,441
206,441|Resources
Movement
expended
in funds
£
£
(221,229)
(14,788)
(221,229)
(14,788)|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**|At 1.4.19
£|Net
movement
At
in funds
31.3.21
£
£|
|---|---|---|
|General fund|46,111|17,360
63,471|
|**TOTAL FUNDS**|46,111|17,360
63,471|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Teacher training
**TOTAL FUNDS**|Incoming
resources
£
353,436
1,350
354,786|Resources
Movement
expended
in funds
£
£
(336,076)
17,360
(1,350)
-
(337,426)
17,360|
|---|---|---|
Teacher Training Fund - This was a donation received primarily for the purpose of funding teacher training for an employee. The teacher training took place in the year therefore nothing is to be carried forward.
continued...
Page 14
**THE SECRET SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2021**
## **12. RELATED PARTY DISCLOSURES**
During the year £40,000 (2020: £Nil) was received by the company from change, grow, live in respect of funding. The balance outstanding at the year end totalled £3,764 owed by change, grow, live (2020: £5,537 owed by change, grow, live). This amount is included within other debtors. The amounts owed are unsecured, there is no fixed date for repayment and no interest charged on amounts owing.
Change, grow, live have registered with Companies House a guarantee to cover all the company's outstanding liabilities as at the financial year end and as a result the company is exempted from audit for that financial year ended also. On 31 March 2021 the company separated from Change, grow, live but were still covered by the guarantee at the financial year end and therefore still exempt from audit.
## **13. ULTIMATE CONTROLLING PARTY**
Change, grow, live, a company registered in England & Wales under company number 03861209 and charity number 107932, was the ultimate controlling party throughout the year, but resigned on 31 March 2021 .
Copies of the group accounts can be found at change, grow, live, 3rd Floor, Tower Point, 44 North Road, Brighton, East Sussex, England, BN1 1YR.
From 1 April 2021, the charity is jointly controlled by the board of Trustees.
Page 15
**THE SECRET SPACE LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
Donations
Grants
**Investment income**
Rents received
**Charitable activities**
Shop income
Retreat income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Rent and rates
Light and heat
Telephone
Postage and stationery
Sundries
Purchases
Travel
Venue room hire
Repairs and renewals
Cleaning
Therapists and teachers
TV hire/licences
Subscriptions
Health and safety
Staff training
Fixtures and fittings
Computer equipment
**Support costs**
**Finance**
Bank charges|2021
£
2
45,525
44,480
90,007
2,700
55,638
-
55,638
148,345
37,171
3,511
986
9,816
2,753
7,168
106
158
1,723
-
-
1,737
1,062
23,110
-
666
-
1,414
12
204
91,597
2,378|2020
£
-
405
-
405
-
191,986
14,050
206,036
206,441
36,971
3,379
953
23,596
1,539
4,378
766
869
4,461
24
7,279
4,130
10,254
94,470
100
851
455
670
367
68
195,580
4,269|
|---|---|---|
This page does not form part of the statutory financial statements
Page 16
**THE SECRET SPACE LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2021**
|**Finance**
**Governance costs**
Independent examiner's remuneration
Independent examiner's remuneration - other
services
Consultancy
Total resources expended
**Net income/(expenditure)**|2021
£
720
6,754
14,748
22,222
116,197
32,148|2020
£
720
6,552
14,108
21,380
221,229
(14,788)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 17
## **Virtual Cabinet Portal Digital Signatures**
## **Digital Signature Verification**
You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page:
https://www.virtualcabinetportal.com/VerifySignedDocument
## **Signature Dates and Times**
All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page:
http://www.virtualcabinetportal.com/WhatIsUTC
## **Signature 1**
Signed by Philip Massetti using authentication code OUtGaHwzKkxKLzNB at IP address 94.7.76.78, on 2021/12/09 20:08:02 Z.
Philip Massetti's e-mail address is: phil@oldbeech.com.
## **Signature 2**
Signed by Tara Aldwin using authentication code bF4pSDJvXCEocUMh at IP address 77.89.171.66, on 2021/12/16 11:58:10 Z.
Tara Aldwin's e-mail address is: tara.aldwin@fkca.co.uk.