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 2022
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 2022
| 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 | 14 |
THE SECRET SPACE LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 MARCH 2022
TRUSTEES Mr P C Massetti Ms V N Apperley Ms S Newmarch 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 (REGISTERED NUMBER: 09161978)
REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2022
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 2022. 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:
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in recovery from drug and alcohol problems.
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in recovery from, or living with, mental health problems.
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living with physical disabilities.
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domestic violence survivors.
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retired. - long term unemployed.
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carers
The Secret Space is beneficial to the public in:
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providing a space for the public to relax away from their everyday lives;
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learning important skills in terms of looking after themselves physically and mentally;
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that volunteers who maintain their recovery will draw less from public monies in terms of rehabilitation or criminal justice processes;
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increasing local employment;
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bringing the local community together in a positive setting;
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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.
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THE SECRET SPACE LIMITED (REGISTERED NUMBER: 09161978)
REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2022
ACHIEVEMENT AND PERFORMANCE Charitable activities
During 2021-2022, the nation continued to be affected by the pandemic and we, like all other wellbeing centres, started the year with our doors closed to the public. This, of course, had a dramatic impact upon our finances. Despite this, we were able to support eighteen volunteers, and offer them some sense of purpose. Of those eighteen, five are in recovery from substance misuse, with two having a dual diagnosis. Eight others have mental health issues, one is a carer, and four were looking for some community support, either feeling isolated, retired, or new to the area.
As the centre slowly re-opened for yoga and therapies and public confidence started to return, we also began the process of gradually bringing the volunteers back into the building. Our physical opening hours were very limited to start off with, so we explored other ways to support them and keep them involved. Some were able to utilise their skills to support us online. This included creating new volunteer roles, such as minute taking for meetings, social media support, and data entry, all of which could be done from their homes. Many of our volunteers regard the Secret Space community as family, so one of the most important things for us is to make sure they continue to flourish as part of that family. With this in mind, the volunteer WhatsApp group was kept lively and active throughout the year, even when they were not physically present. This group was started in 2020 at the start of the pandemic and continues to be a significant part of the volunteers' experience.
We deliver coping strategies for the ongoing anxiety experienced by many of our volunteers, we offer online yoga and Pilates classes free of charge, weekly meditation sessions, free holistic therapy sessions (offered by peer volunteers) and free spaces on online personal development courses and retreats. We arranged for one volunteer to receive a free place on a NADA auricular acupuncture practitioner training course.
As government restrictions were gradually lifted, we were able to give more opportunities to assist at the centre, on the front desk, in the office, and with various other duties. One of our volunteers came in regularly to clean the courtyard and do health and safety checks for us. Another attended to online admin and customer liaison from her home. Several volunteers were involved in helping with the covid-safe cleaning of the centre and equipment in between classes and therapy sessions. One volunteer has even taken on looking for funding streams for us. Another volunteer offered regular teaching sessions with us, providing chair yoga online for people in the community with mobility issues.
As another example of support for our volunteers, we supported their participation in the 3-Year British Wheel of Yoga Teacher Training Diploma and she now teaches online and in-person at The Secret Space. Additionally, we gave five of the trainees on the teacher training course new classes of their own, thus starting them on their new yoga teaching career. Many of these classes were low cost, so offering support to the wider community as well.
During the fallow period at the start of 2021, we took advantage of the time to engage the services of a fundraising specialist. With her help, we successfully applied for a grant from Hertfordshire Community Foundation, to make plans to deliver several courses at a significantly reduced rate designed to reach people in the community with specific needs. This included a specialist yoga course for people living with cancer; a Meditation for Self-Care online programme for those living with anxiety, post-traumatic stress, loneliness, and isolation; also training one of our teachers on the NHS approved Yoga4Health programme.
The Yoga4Health evidence-based programme fuses the wisdom of ancient practices with modern medical science. It has been commissioned by the NHS and created by the Yoga in Healthcare Alliance.
During the year we continued to offer a wide range of online offerings to support the health and fitness of those unable to attend the studio, in part due to government restrictions, or due to fear and uncertainty about venturing out into public spaces. This also helped to support people struggling with loneliness and isolation to continue to be involved in group activities.
As the summer approached, and we were able to re-open our doors, we did so with very limited spaces, so as to keep in line with social distancing measures. This reassured our returning clients that we had their wellbeing at the heart of everything we do. We offered a sliding scale of fees for some classes, so clients could choose how much they could afford to pay. We continued to support different areas of the community, such as those living with addiction or mental health issues, amongst others, with some free and discounted classes.
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THE SECRET SPACE LIMITED (REGISTERED NUMBER: 09161978)
REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2022
The long period of closure had given us and our teachers time to re-evaluate what we were offering, and we expanded into delivering a more far-reaching range of workshops and courses. These ranged from dance and movement, breathwork and Qigong, through esoteric studies, to holistic health practitioner trainings. We even collaborated with specialist facilitators to offer an equine assisted healing retreat. Alongside these we continued to offer our regular series of yoga and meditation workshops and courses, all delivered by experienced and supportive teachers.
Again, our Holistic Therapies team was able to offer services in person early in the year, as government restrictions eased. They worked with high levels of guidance from their individual governing bodies in how to treat clients safely.
The pandemic had a huge impact on NHS staff, who were at the front line of dealing with the effects of covid on the population. In September 2021 we collaborated with the Lister NHS trust to deliver a range of complementary therapies, free of charge, on a daily basis for 12 weeks to all the hospital's staff. We set up an on-site clinic at the Lister hospital in order to do this, creating a space for them to come and decompress from the stressful work they were doing. This supported those working within the NHS and created opportunities for our therapists to 'give back' to them. In the process we also created volunteering opportunities in the admin and day-to-day running of the project.
As a studio, we responded at the start of the Ukraine Crisis, by offering a charity yoga workshop in March 2022. The teacher, admin staff and the local venue we used all offered their services for free, so we were able to donate all the proceeds from this via Oxfam to the Ukraine Humanitarian Appeal.
We have taken our role as part of the community very seriously. We recognize that the legacy of the prolonged lock-down continues to impact people, and we have continued to look for every opportunity to offer services to support people. We even ran free online meditations on Christmas Day and Boxing Day so that anyone feeling the pang of loneliness might attend and feel part of the community.
FINANCIAL REVIEW
Financial position
The charity has delivered services throughout the year, slowly increasing class attendance and donations as government restrictions were lifted. It reported an income of £86,979 from its activities. It received support from governmental coronavirus business grants of £6,005. This has enabled The Secret Space to deliver its charitable purpose.
Following the end of the association with parent company Change Grow Live on 31 March 2021, The Secret Space has operated as a fully independent charity.
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 Trustees are aware that reserves as at 31 March 2022 would not cover the expenses to 30 June 2022. The Trustees know this is a result of financial performance during Covid and the trading restrictions imposed as a result. Since March 2022, there have been significant changes made to costs, operational management and in securing a significant monthly donation from our original parent, CGL, to help see us through this period.
The balance carried forward in reserves as at 31 March 2022 was £18,948 (2021: £63,471).
FUTURE PLANS
Covid continues to affect attendance numbers in Yoga classes and Therapy sessions. It has become clear that the model of self sufficiency from classes alone would not be sustainable and annual revenues going forward would need to be underpinned by charitable donations. We see this as a mix in or around 70% classes and 30% donations. This, of course, is predicated on future Covid outbreaks, government restrictions and public appetite for group gatherings. We see challenges ahead but also light at the end of the tunnel.
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.
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THE SECRET SPACE LIMITED (REGISTERED NUMBER: 09161978)
REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2022
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 manager. 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:
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).
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 29 December 2022 and signed on its behalf by:
Mr P C Massetti - Trustee
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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 2022.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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
30 December 2022
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THE SECRET SPACE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MARCH 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 23,547 Charitable activities 3 Yoga and complimentary therapies 86,979 Investment income 2 6,900 Total 117,426 EXPENDITURE ON Charitable activities Yoga and complimentary therapies 161,949 NET INCOME/(EXPENDITURE) (44,523) RECONCILIATION OF FUNDS Total funds brought forward 63,471 TOTAL FUNDS CARRIED FORWARD 18,948 |
Restricted fund £ - - - - - - - - |
2022 Total funds £ 23,547 86,979 6,900 117,426 161,949 (44,523) 63,471 18,948 |
2021 Total funds £ 90,007 55,638 2,700 148,345 116,197 32,148 31,323 63,471 |
|---|---|---|---|
The notes form part of these financial statements
Page 7
THE SECRET SPACE LIMITED (REGISTERED NUMBER: 09161978)
BALANCE SHEET 31 MARCH 2022
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 7 136 - CURRENT ASSETS Debtors 8 6,151 - Cash at bank and in hand 41,479 - 47,630 - CREDITORS Amounts falling due within one year 9 (28,818) - NET CURRENT ASSETS 18,812 - TOTAL ASSETS LESS CURRENT LIABILITIES 18,948 - NET ASSETS 18,948 - FUNDS 11 Unrestricted funds TOTAL FUNDS |
2022 Total funds £ 136 6,151 41,479 47,630 (28,818) 18,812 18,948 18,948 18,948 18,948 |
2021 Total funds £ 340 16,384 73,487 89,871 (26,740) 63,131 63,471 63,471 63,471 63,471 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 29 December 2022 and were signed on its behalf by:
Mr P C Massetti - Trustee
The notes form part of these financial statements
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THE SECRET SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2022
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 trustees have considered the financial health of the charity and are confident that the charity, at the date of signing, will continue as a going concern for the foreseeable future.
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':
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the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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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);
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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.
Redundancy payments
Redundancy costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the Trust is demonstrably committed to either: terminate the employment of an employee or group of employees before normal retirement date; or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The Trust is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.
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...
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THE SECRET SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2022
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
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Rents received | 6,900 | 2,700 | |
| INCOME FROM | CHARITABLE ACTIVITIES | ||
| Activity | 2022 £ |
2021 £ |
|
| Shop income | Yoga and complimentary therapies | 86,979 | 55,638 |
3. INCOME FROM CHARITABLE ACTIVITIES
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Independent | examiner's remuneration | 2022 2021 £ £ 770 720 |
|---|---|---|
| Independent | examiner's remuneration - other services | 6,384 6,754 |
| Depreciation | - owned assets | 204 217 |
continued...
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THE SECRET SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2022
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
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 |
2022 £ 63,718 - 996 64,714 2022 1 1 2 |
2021 £ 37,171 3,511 986 41,668 2021 1 1 2 |
|---|---|---|
No employees received emoluments in excess of £60,000.
Aggregate emoluments for key management totalled £46,148 (2021: £37,171).
During the year ended 31 March 2022, redundancy payments of £10,000 were paid to an employee.
7. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | ||
|---|---|---|
| COST | Fixtures and fittings £ |
Computer equipment Totals £ £ |
| At 1 April 2021 and 31 March 2022 | 1,491 | 612 2,103 |
| DEPRECIATION | ||
| At 1 April 2021 | 1,491 | 272 1,763 |
| Charge for year | - | 204 204 |
| At 31 March 2022 | 1,491 | 476 1,967 |
| NET BOOK VALUE | ||
| At 31 March 2022 | - | 136 136 |
| At 31 March 2021 | - | 340 340 |
continued...
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THE SECRET SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2022
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9.
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade debtors | 819 | 184 | ||
| Other debtors | - | 3,764 | ||
| Prepayments and accrued income | 5,332 | 12,436 | ||
| 6,151 | 16,384 | |||
| CREDITORS: AMOUNTS FALLING DUE | WITHIN ONE YEAR | |||
| Trade creditors | 2022 £ 6,585 |
2021 £ 2,910 |
||
| Social security and other taxes | 507 | 772 | ||
| Accrued expenses | 21,726 | 23,058 | ||
| 28,818 | 26,740 | |||
| Included within accruals is a provision for dilapidation costs on the property which The Secret | Space Lim | |||
| occupy. The movement on this account is as follows: | ||||
| Provision brought forward at 1 April 2021 | £18,300 | |||
| Dilapidation costs in year | £NIL | |||
| Provisions carried forward at 31 March 2022 | £18,300 | |||
Included within accruals is a provision for dilapidation costs on the property which The Secret Space Limited occupy. The movement on this account is as follows:
10. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year | 2022 2021 £ £ 5,937 6,833 |
||
|---|---|---|---|
| 11. | MOVEMENT IN FUNDS | ||
| Unrestricted funds | At 1.4.21 £ |
Net movement At in funds 31.3.22 £ £ |
|
| General fund | 63,471 | (44,523) 18,948 |
|
| TOTAL FUNDS | 63,471 | (44,523) 18,948 |
continued...
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THE SECRET SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2022
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 117,426 TOTAL FUNDS 117,426 Comparatives for movement in funds At 1.4.20 £ Unrestricted funds General fund 31,323 TOTAL FUNDS 31,323 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 146,995 Restricted funds Teacher training 1,350 TOTAL FUNDS 148,345 |
Resources Movemen expended in funds £ £ (161,949) (44,523) (161,949) (44,523) 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 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds | At 1.4.20 £ |
Net movement At in funds 31.3.22 £ £ |
|---|---|---|
| General fund | 31,323 | (12,375) 18,948 |
| TOTAL FUNDS | 31,323 | (12,375) 18,948 |
continued...
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THE SECRET SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2022
11. MOVEMENT IN FUNDS - continued
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 £ 264,421 1,350 265,771 |
Resources Movement expended in funds £ £ (276,796) (12,375) (1,350) - (278,146) (12,375) |
|---|---|---|
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.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
13. ULTIMATE CONTROLLING PARTY
The charity is jointly controlled by the board of Trustees.
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