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← Sovereign House Gh

2024-04-30-accounts

SOVEREIGN HOUSE GH REGISTERED CHARITY NUMBER 1168568

REPORT AND FINANCIAL STATEMENTS

YEAR ENDING 30 APRIL 2024

(COMPANY LIMITED BY GUARANTEE NO. 09551467)

FINANCIAL STATEMENTS YEAR ENDING 30 APRIL 2024

30 APRIL 2024



CONTENTS
 PAGES

Reference and Administrative Details		 2

Report of the Trustees		 3 to 6

Statement of Trustees’ Responsibilities		 7

Independent Examiner’s Report		 8

Statement of Financial Activities		 9

Balance Sheet		 10

Notes to the Financial Statements

 11 to 21

1

SOVEREIGN HOUSE GH Reference and Administrative Details

Trustees

Philip Joseph Spencer Lockett Dele Moses Oderinde (also a Director) Irene Lockett (also a Director) Elyse Merriman Jedidiah Tetteh Adrienne Prepok

Principal Activities

451 Liverpool Street and Langworthy Cornerstone Salford M6 5QQ

19 Broad Street Bury

BL9 0DA

Registered Office

19 Broad Street Bury BL9 0DA

Company Registration Number

09551467

Charity Registration Number

1168568

Independent Examiner and Accountant

Paul Cowham FCA DChA Withington Works Withington Baths 30 Burton Road Manchester, M20 3EB

2

SOVEREIGN HOUSE GH REPORT OF THE TRUSTEES YEAR ENDING 30 APRIL 2024

TRUSTEE’S REPORT

The Trustees present their report together with the financial statements of the charity for the year ended 30 April 2024. The financial statements comply with the Charities Act 2011, the Charity’s Constitution, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.

OBJECTIVES AND ACTIVITIES

Objects and aims

The object of the charity is to empower orphans and disadvantaged children to realise their full potential through enhancing IT skills, housing, education, healthcare, and community development. The charity works with children in Ghana and the UK.

The charity was registered as a charity by the Charity Commissioners for all purposes on 2 August 2016 (certificate number: 1168568)

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Sovereign House GH is a Charitable Incorporated Organisation and is a registered charity governed by its constitution and the compliance requirements of the Charity Commission.

The governance of the Charity is provided through a group of Trustees and Directors, who give their time, expertise, and energies to ensure that the work of the Charity makes a positive difference in fulfilling its charitable objectives.

The charity employs staff and continue to collaborate with volunteers. Day to day management of the charity’s operations is delegated to the Executive Director who is also a Trustee. She works with both staff and volunteers with various expertise to run the charity. She did not received remuneration during the year.

The CIO has control over the Company Limited by Guarantee. The purpose of the CIO is to broaden the governance structure, enhance transparency and provide a wider platform in delivering on the charity’s stated objectives for the public benefit.

3

PERFORMANCE, OUTCOMES & ACHIEVEMENTS

Sovereign House GH, similar to many charitable organizations, experienced an increase in demand for services amidst constrained funding. Consequently, they revised strategic approaches to raise funds and expand operations, with a focus on the importance of digital skills and addressing the digital divide.

BURY, BROUGHTON, SALFORD - UK

The Computer Learning Programme in the UK aims to bridge the digital divide and teach children essential digital and life skills. This initiative supports the charity's goal of improving education and fostering community development.

To meet the growing demand for digital skills training, Sovereign House GH worked on expanding its services. One of the objectives for the year was to find premises that would enable the charity to host more participants in its Computer Learning Programme. With assistance from external services, the charity secured premises in Bury in early 2024. The new location includes a dedicated IT Hub and offices, offering an appropriate environment for both learning and administration.

This IT Hub gave us the scope to introduce adults to the Computer Learning Programme. This new initiative, from feedback and surveys gathered shows the exclusivity of many 50+ adults in navigating the digital world. We therefore introduced tailored classes for 50+ adults, aiming to further support the community by extending digital education to participants, thereby enhancing their ability to engage with and benefit from digital resources.

The projects continue to run at Salford, with an additional hub to be introduced , earl y in the year, giving Salford residents access to concurrent classes at 2 locations.

The Computer Learning Programme offers a variety of structured digital and life skills training sessions. Beneficiaries have access to the latest technology through subscription, partnerships and licenses with Google, Microsoft, and other platforms. This access enables them to advance their learning and gain hands-on experience with digital tools. With online access for those with computers at home, they continue with the projects we give them, gaining more experience in computer skills.

The Computer Learning Programme provides inclusive classes for children and adults without access to computers and digital learning resources. The programs are accessible to everyone, regardless of skill level. The programme focuses on mixed ages and abilities, ensuring that all participants can gain essential digital skills.

The programme has also facilitated parental involvement in the learning process. Parents with computer equipment at home can log into their children’s accounts and learn alongside them. Feedback has shown that this approach has helped many families acquire digital skills, enabling guardians to access essential services online with support from their children and the programme team.

For the parents who appreciated the help they received from their children who have been on the programme to access governmental and other services, they are asking if adult classes will start for the children. This is something we are working on and will bring onboard soon as there is demand.

4

Sovereign House GH is continuously working to enhance its technological capabilities to extend the Computer Learning Programme to a broader audience through online tutoring. The charity engaged with external consultants to attract investment for further technological development.

The programme has yielded significant outcomes, including:

The Computer Learning Programme is part of the charity’s mission to provide educational opportunities and support community development. It equips children, their families, and adults over 50 with digital skills to foster a more inclusive and technologically proficient community. The charity plans to continue expanding and improving the programme to meet the evolving needs of its beneficiaries.

GHANA

Sovereign House GH has made significant strides in improving the lives of disadvantaged children in Ghana. Our efforts have focused on providing essential services and creating a supportive environment for these children to thrive.

Children who have experienced various forms of abuse often struggle with low self-esteem, lack of confidence, and emotional instability. For the children in our care, we have implemented activities designed to boost their self-esteem and help them achieve emotional balance. These activities include visits to recreational places in town, which allow the children to socialize and feel a sense of belonging. Through these engagements, the children learn mental and moral etiquette , values and virtues .

One of the primary objectives of Sovereign House GH is to provide children with a secured foundation. We are nearing the completion of our Children’s Home, a spacious and secured home for children, ensuring the children's safety to thrive. One of the key features, is digging and installing a borehole for fresh water, as that is one of the issues faced in the community. This will ensure that there is always fresh water for the children for the future. In addition, we have also completed a Biogas project, where we will be using the waste to generate fuel for use in the home, thereby not only making it environmentally friendly but also cutting down cost of fuel for the foreseeable future, sustaining the children’s home. CCTV cameras and security fence were also completed.

Through our educational sponsorship, we enrolled additional children in school, helping them to pursue their education and achieve their full potential. Our comprehensive support continue to make a positive impact on the lives of these children, helping them reach their fullprograms, potential and become confident, self-reliant individuals.

All the children in our care are doing well. The trustees are working to secure an educational license to provide education in-house. This plan will implement a SOS model with an international curriculum for both our children and those in the community. The school will

5

address diverse student needs and achievement levels. Each child will have a plan that meets national standards, with classes offered flexibly around their care needs. The long-term goal is to equip our children with the knowledge, reasoning skills, and abilities to participate in society.

FINANCIAL REVIEW

Income and expenditure

Sovereign House GH relies on donors, grants, and voluntary income as its principal source of funding.

Risks

The Trustees have identified the risks to which the charity is exposed and have put in place processes and procedures to ensure that such risks are mitigated as far as possible. A risk review procedure is in place to identify the most significant risks, and the Trustees will continue to ensure that appropriate remedial action is taken.

Reserves policy

The trustees continue to build up the reserves level of the charity. The trustees are confident that by promoting the charity’s projects and the increased efforts at fundraising will help achieve the set target, whilst applications for grant funding will continue to deliver the objects of the charity. Thus, the Directors/Trustees are of the view that the charity will continue to excel in its objectives.

PLANS FOR FUTURE PERIODS

To further expand our impact, Sovereign House GH is dedicated to enhancing our community outreach initiatives and forging strategic partnerships. Our plans include the following key actions:

These efforts are designed to ensure that Sovereign House GH not only continues to fulfill its charitable objectives but also extends its reach and effectiveness in making a positive difference in the lives of those we serve. The Trustees are committed to these plans and look forward to the continued support from our stakeholders as we strive to achieve these ambitious goals.

6

SOVEREIGN HOUSE GH

Statement of Trustees' Responsibilities

The trustees (of whom three are also the directors of Sovereign House GH for the purposes of company law – see page 1) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each fiscal year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 10 January 2023 and signed on its behalf by:

………………………………………………..

IRENE LOCKETT (MRS) Director/Trustee

7

Independent Examiner's Report to the Trustees of

Sovereign House GH

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2024.

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.

Paul Cowham FCA DChA Withington Works Withington Baths 30 Burton Road Manchester, M20 3EB

Date ………………………

8

Sovereign House GH

Statement of Financial Activities (including Income and Expenditure account) for the year ended 30 April 2024

Unrestricted
funds
Note
£
Income
Donations and legacies
3
55,813
Charitable activities
4
500
Investments
5
-
Total income
56,313
Expenditure
Raising funds
6
-
Charitable activities
7
66,269
Total expenditure
66,269
8
(9,956)
Transfer between funds
-
Net movement in funds for the year
(9,956)
Reconciliation of funds
Total funds brought forward
26,723
Total funds carried forward
16,767
Net income/(expenditure) for the
year		 Restricted
funds
£
49,569
16,501
-
66,070
-
25,790
25,790
40,280
-
40,280
239,401
279,681		 Total funds
2024
£
105,382
17,001
-
122,383
-
92,059
92,059
30,324
-
30,324
266,124
296,448		 Total funds
2023
£
47,942
32,855
79
80,876
-
45,344
45,344
35,532
-
35,532
230,592
266,124

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

9

Sovereign House GH Company number 09551467

Balance sheet as at 30 April 2024

Note 2024 2023
£ £ £ £
Fixed assets
Tangible assets 13 269,061 213,968
Total fixed assets 269,061 213,968
Current assets
Debtors 14 - 10,574
Cash at bank and in hand 62,587 43,395
Total current assets 62,587 53,969
Liabilities
Creditors: amounts falling
due in less than one year 15 (11,646) (1,813)
Net current assets 50,941 52,156
Total assets less current liabilities 320,002 266,124
Creditors: amounts falling
due after more than one year - (23,554) -
Net assets 296,448 266,124
Funds of the charity
Restricted income funds 17 279,681 239,401
Unrestricted income funds 18 16,767 26,723
Total charity funds 296,448 266,124

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 11 to 21 form part of these accounts.

Approved by the trustees on ….................................... and signed on their behalf by: 23/01/2025

Irene Lockett - trustee

10

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 section 1A.

Sovereign House GH meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No such restatement was required.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

There are no key judgments which the trustees have made which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

11

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

d Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

e Donated services and facilities

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), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

12

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

g Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

h Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis.

k Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

13

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

n Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

3 Income from donations and legacies

Donations from
individuals UK
Donations from
individuals forGhana
Gift aid
Core grants
In kind income -
volunteer CEO
In kind income cyber
security		 Unrestricted
Restricted
Total 2024 Unrestricted
Restricted
Total 2023
£
£
£
£
£
£
11,257
-
11,257
7,494
4,500
11,994
-
49,569
49,569
-
33,548
33,548
9,556
-
9,556
-
-
-
-
-
-
-
-
-
35,000
-
35,000
-
-
-
-
-
-
-
2,400
2,400
55,813
49,569
105,382
7,494
40,448
47,942

Total

14

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

4 Income from charitable activities

Unrestricted Restricted Total 2024 Unrestricted Restricted Total 2023
£ £ £ £ £ £
Grants
Awards for All - - - - 10,000 10,000
FM & Cellnex - 5,000 5,000
Forever - - - - 100 100
Big Issue - 6,000 6,000 - - -
Reach fund - 180 180 - 10,574 10,574
Salford Community
Grant - 2,400 2,400 900 - 900
Bury Voluntary
VCFA - 2,000 2,000 - - -
Salford CVS - 921 921 - 1,500 1,500
Local Giving 500 - 500 -
Other charitable income -
Computer Learning
profgramme - 5,440 - 5,440
Kickstar - - 4,341 4,341
Total 500 16,501 17,001 6,340 26,515 32,855

5

Investment income

Income from bank
deposits		 Unrestricted
Restricted
2024
Unrestricted
Restricted
2023
£
£
£
£
£
£
-
-
79
-
79
-
-
-
79
-
79

All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.

15

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

6 Analysis of expenditure on raising funds

Total 2024 Total 2023
£ £
Marketing and publicity - -

7 Analysis of expenditure on charitable activities

Programme costs
Wages and salaries
Education Sponsorship
Volunteer expenses
Depreciation
Office costs
Premises
Professional fees
Insurance
Bank charges
In kind - volunteer CEO
In kind - cyber security training
Sundry
Other governance costs
Restricted expenditure
Unrestricted expenditure
Trustee meeting costs
Independent examination
Other accountancy		 Total 2024
Total 2023
£
£
8,402
9,057
17,241
19,659
632
1,555
1,574
3,240
3,240
798
14,111
4,640
9,696
1,841
1,279
218
585
35
35,000
2,400
-
950
1,000
-
250
-
-
92,059
45,344
2024
2023
£
£
25,790
19,233
66,269
26,111
92,059
45,344

16

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

8 Net income/(expenditure) for the year

This is stated after charging/(crediting): 2024 2023
£ £
Depreciation 3,240 3,240
Independent examiner's remuneration
- accountancy 700 500
- independent examination 500 500

9 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Employers pension contributions
DBS checks		 2024
2023
£
£
17,002
19,285
-
-
-
374
249
-
17,251
19,659

No employee has employee benefits in excess of £60,000 (2023: Nil).

The average number of staff employed during the period was 1.6.

The average full time equivalent number of staff employed during the period was 1 (2023: 1).

The key management personnel of the charity comprise the trustees, and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £nil (2023: £nil).

10 Trustee remuneration and expenses, and related party transactions

Neither the trustees nor any persons connected with them received any remuneration during the year (2023: Nil). One trustee claimed £72.40 travel expenses in the year (2023 £nil).

Aggregate donations from related parties were £nil (2023: £nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2023: nil).

17

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

11 Government grants

The government grants recognised in the accounts were as follows:

Salford Council 2024
2023
£
£
-
-
-
-

There were no unfulfilled conditions and contingencies attaching to the grants.

12 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

13 Fixed assets: tangible assets

Cost
Additions
Disposals
Depreciation
Charge for the year
Disposals
Net book value
At 1 May 2023
At 30 April 2024
At 1 May 2023
At 30 April 2024
At 30 April 2024
At 30 April 2023		 Land and
Office
Computer
Total
Buildings
equipment
equipment
£
£
£
£
203,378
3,600
12,601
219,579
58,333
-
58,333
-
-
-
-
261,711
3,600
12,601
277,912
-
900
4,711
5,611
-
900
2,340
3,240
-
-
-
-
-
1,800
7,051
8,851
261,711
1,800
5,550
269,061
203,378
2,700
7,890
213,968

18

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

14 Debtors

Debtors
Accrued income 2024
2023
£
£
-
10,574
-
10,574

15 Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors and accruals 1,200 1,813
Taxation and social security costs - -
Big Issue Loan 10,446 -
11,646 1,813
Creditors: amounts falling after more than one year
2024 2023
£ £
Big Issue Loan 23,554 -

16 Creditors: amounts falling after more than one year

17 Analysis of movements in restricted funds

Big Life Company
Bury Voluntary VCFA
Computer Equipment
FM & Cellnex
Forever Manchester
Awards for All
Ghana Children's Home and
Mission House
Reach fund
Salford CVS
Kickstart
Ghana Children's Home building
Salford Community
Salford CVS Volunteers expoenses		 Balance at
1 May 2023
Income
Expenditure
Transfers
Balance at
30 April
2024
£
£
£
£
£
-
6,000
(518)
-
5,482
-
2,000
(1,103)
897
7,775
-
(2,225)
-
5,550
-
5,000
(3,579)
-
1,421
-
-
-
-
-
4,361
-
(4,361)
-
-
211,343
49,569
-
-
260,912
5,348
-
-
-
5,348
10,574
180
(10,683)
-
71
-
-
-
-
1,500
(1,500)
-
-
-
900
(900)
-
-
-
921
(921)
-
-
239,401
66,070
(25,790)
-
279,681

19

`

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

17 Analysis of movements in restricted funds (continued)

Community fund
Computer Equipment
In kind cyber security training
Forever Manchester
Awards for All
Ghana Children's Home building
Previous
reporting
period
Ghana Children's Home and
Reach fund
New Ground Storage
Kickstart
Salford CVS
Salford CVS volunteers exps
Salford Council devolved budget		 Balance at
1 April
2022
Income
Expenditure
Transfers
Balance at
30 April
2023
£
£
£
£
£
1,112
-
(1,112)
-
-
5,593
4,500
(2,318)
-
7,775
-
2,400
(2,400)
-
-
-
100
(100)
-
-
-
10,000
(5,639)
-
4,361
179,480
31,863
-
-
211,343
4,415
1,764
(831)
-
5,348
-
10,574
-
-
10,574
452
4,341
(4,793)
-
-
-
1,500
(1,500)
-
-
391
-
(391)
-
-
149
-
(149)
-
-
1,713
-
(1,713)
-
-
193,305
67,042
(19,233)
-
239,401

Name of Description, nature and purposes of the fund

The balances on restricted funds are all unexpended grants for the charity's projects. Transfers from restricted funds occur when capital items are purchased and this satisfies the restriction on the funding.

20

Sovereign House GH

Notes to the accounts for the year ended 30 April 2024 (continued)

18 Analysis of movement in unrestricted funds

Balance at As at 30
1 May 2023 Income Expenditure Transfers April 2024
£ £ £ £ £
General fund 26,723 56,313 (66,269) - 16,767
26,723 56,313 (66,269) - 16,767
Previous Balance at
reporting
period		 1 April
2022
£		 Income
£		 Expenditure
£		 Transfers
£		 As at 30
April 2023
£
General fund 37,287 13,834 (24,398) - 26,723
37,287 13,834 (24,398) - 26,723
Name of Description, nature and purposes of the fund
General Fund This represents the free reserves of the charity.

19 Analysis of net assets between funds

Tangible fixed assets
Net current assets/(liabilities)
Total		 General
Designated
Restricted
fund
funds
funds
Total
£
£
£
£
269,061
-
-
269,061
(228,740)
-
279,681
50,941
16,767
-
279,681
296,448

21