REGISTERED COMPANY NUMBER: 09390907 (England and Wales) REGISTERED CHARITY NUMBER: 1168833
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
FOR
FABRIC FOUNDATION LTD
FABRIC FOUNDATION LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 16 |
| Detailed Statement of Financial Activities | 17 to 18 |
FABRIC FOUNDATION LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2023
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 January 2023. 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
Our charity's aims as set out in the objects contained in the company's Memorandum and Articles of Association are to:-
'advance in life and relieve needs of young people across South and West Wales through
(a) The provision of semi-independent living with 24 hour support for 16-17 year old looked after children and care leavers.
(b)' Provide support and activities which develop their skills, capacities and capabilities to enable them to participat in society as mature, responsible individuals.'.'
Significant activities
The FABRIC Foundation had a busy year with many activities.
At the beginning of the year the FABRIC Foundation continued to provide Yoga Sessions in the community which were supported from funds by the National Lottery.
We recruited our first volunteer fundraiser Frankee, who ran 100 miles and organised a pub quiz and curry to raise funds.
Page 1
She raised £3,368.
Period poverty was an issue that we addressed thanks to the donation of hundreds of sanitary items which we offered out in our local communities and also within our foodbank deliveries.
We ran a pop up clothing event where 14 young people in need were able to come and choose new clothes. This meant that they didn't feel like a 'charity case' but were able to choose like in a shop. We had a volunteer DJ with volunteers serving hot dogs and organising the clothes. It was a great event in which we partnered with Evolve Youth Service and then donated the remaining clothes to the Local Authority teams.
We gained a grants officer through university funding in October. He started a 200 hour placement and quickly sourced funds for our foodbank.
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Our foodbank which has become a vital service continued to grow in strength. By the end of the year we were delivering to 50 young people a week.
At Christmas we delivered gifts to former FABRIC Kids and others in the community, adding festive cheers to 45 young people.
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FABRIC FOUNDATION LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
FINANCIAL REVIEW
Going concern
Financial support was provided by WCVA and Finance Wales to acquire a property, but also to support the purpose of FABRIC Foundation. The loans exceeded the value of property as funds were required to cover start-up costs. This position has always been accepted by the board of trustees, The Finance Wales loan has been replaced by two lower interest loans from NatWest Bank and the WCVA loan has been replaced by an interest free Welsh Government loan. The charity is aiming to replace the bank loan with a loan on more favourable terms. The Trustees are confident that the charity is able to meet all its financial commitment as they fall due.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a Community Interest Company limited by guarantee, incorporated on 15th January 2015, and registered as a charity on 19th August 2016.
Recruitment and appointment of trustees, induction and training .
The trustees carry out a skills audit prior to recruiting new trustees. Role descriptions and job specifications are drawn up and a search programme undertaken. All new trustees are required to accept the organisation's code of conduct that contains details of the number of board meetings and the number of projects they are required to attend throughout the year. In addition a structured induction programme has been devised to enable trustees to more quickly understand the structure and culture of the organisation. Further training for trustees is to be considered following enlargement of the trustee body and a trustee training needs analysis.
Charity constitution
The company was established under a Memorandum of Association(amended 20 May 2016) which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £2.
Organisational structure
The trustees are responsible for the overall management of the charity, its strategic direction and decision making. However, day-to-day management of treatment, non-treatment services and business services is delegated to the Chief Executive and senior management team.
Decision making
The trustees are responsible for the overall management of the charity,its strategic direction and decision making. However, day-to-day management of treatment, non-treatment services and business services However, day-to-day is delegated to the Chief Executive and senior management team
Risk assessment and management.
The trustees have overall responsibility for ensuring that the charity has appropriate systems of control; both financial and operational; for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity; for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The systems of internal control are designed to provide reasonable assurance that: The charity is operating efficiently and effectively in the pursuit of its objectives;
-
Funds are applied in accordance with the intentions of the funder;
-
Its assets are safeguarded against unauthorised use or disposition;
-
Proper records are maintained and financial information used within the charity or for publication is reliable;
-
The charity complies with relevant laws and regulations. They are also designed to provide reasonable, but not absolute assurance against material misstatement or loss.
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FABRIC FOUNDATION LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
Related parties
Ms Helvon-Hardy is director of FABRIC Support Services. The link between the two companies is noted by the board of trustees. Whilst there is an undeniable link the between the companies, the decisions that are made in both companies are separate and in the best interests of the company in question .In this case, the FABRIC Foundation. There is an intrinsic link between the two companies as they both form the group "FABRIC: The Care leavers' Community". whilst the board moves towards a position where she can step away. Ms Helvon-Hardy donates her time to run the FABRIC Foundation as it is not yet in a position where it can employ staff.
FABRIC Support Services provides the FABRIC Foundation with access to their staff (as the FABRIC Kids have relationships with them) at a cost effective price.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09390907 (England and Wales)
Registered Charity number 1168833
Registered office Water Street Business Centre Unit 13 Water Street Business Cen Neath Port Talbot SA12 6LF
Trustees
M D Harvey (appointed 20.3.23) H C Helvon-Hardy Mrs S Junor-Fitzpatrick (appointed 20.3.23) Mrs J Perry L J Spikes (resigned 20.3.23) J D Harris (resigned 20.3.23) M P Bradley (resigned 6.5.22) H Palmer (appointed 25.8.22)
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FABRIC FOUNDATION LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
Independent Examiner
Janet D Jenkins Ltd 60, Saint Teilo Street Pontarddulais Swansea SA4 8SY
Approved by order of the board of trustees on 22[nd] November 2023 and signed on its behalf by:
MDHarvey
Mr MD Harvey - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FABRIC FOUNDATION LTD
Independent examiner's report to the trustees of Fabric Foundation Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023.
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:
-
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
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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.
JD Jenkins
Mrs Janet D Jenkins Janet D Jenkins Ltd 6, Llys Ynyscedwyn Ystradgynlais Swansea SA9 1EN
22[nd] November 2023
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FABRIC FOUNDATION LTD
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JANUARY 2023
| 31.1.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,666 Charitable activities Supporting young people 13,798 Investment income 3 21,000 Total 37,464 EXPENDITURE ON Raising funds 5 627 Charitable activities 6 Supporting young people 51,233 Total 51,860 NET INCOME/(EXPENDITURE) (14,396) RECONCILIATION OF FUNDS Total funds brought forward (29,835) TOTAL FUNDS CARRIED FORWARD (44,231) |
31.1.22 Total funds £ 5,432 90,307 18,000 113,739 - 111,781 111,781 1,958 (31,793) (29,835) |
|---|---|
The notes form part of these financial statements
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FABRIC FOUNDATION LTD
BALANCE SHEET
31 JANUARY 2023
| 31.1.23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 13 227,027 CURRENT ASSETS Debtors 14 - Cash at bank and in hand 12,906 12,906 CREDITORS Amounts falling due within one year 15 (23,797) NET CURRENT ASSETS (10,891) TOTAL ASSETS LESS CURRENT LIABILITIES 216,136 CREDITORS Amounts falling due after more than one year 16 (260,367) NET ASSETS (44,231) FUNDS 19 Unrestricted funds (44,231) TOTAL FUNDS (44,231) |
31.1.22 Total funds £ 235,128 6,762 38,846 45,608 (15,681) 29,927 265,055 (294,890) (29,835) (29,835) (29,835) |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.
The notes form part of these financial statements
continued...
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FABRIC FOUNDATION LTD
BALANCE SHEET - continued
31 JANUARY 2023
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 22[nd] November 2023 and were signed on its behalf by:
MDHarvey
Mr MD Harvey Trustee
The notes form part of these financial statements
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
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.
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
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 objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
| 2. | DONATIONS AND LEGACIES | DONATIONS AND LEGACIES | |||
|---|---|---|---|---|---|
| 31.1.23 | 31.1.22 | ||||
| £ | £ | ||||
| Gifts | 1 | - | |||
| Donations | 2,665 | 5,432 | |||
| 2,666 | 5,432 | ||||
| 3. | INVESTMENT INCOME | ||||
| 31.1.23 | 31.1.22 | ||||
| £ | £ | ||||
| Rents received | 21,000 | 18,000 | |||
| 4. | INCOME FROM CHARITABLE ACTIVITIES | ||||
| 31.1.23 | 31.1.22 | ||||
| Activity | £ | £ | |||
| Fundraising | Supporting young people | 6,123 | - | ||
| Grants | Supporting young people | 7,675 | 90,307 | ||
| 13,798 | 90,307 | ||||
| Grants received, included in | the above, are as follows: | ||||
| 31.1.23 | 31.1.22 | ||||
| £ | £ | ||||
| 5. | RAISING FUNDS | ||||
| Raising donations and legacies | |||||
| 31.1.23 | 31.1.22 | ||||
| £ | £ | ||||
| Sundries | 627 | - | |||
| 6. | CHARITABLE ACTIVITIES COSTS | ||||
| Grant | |||||
| funding of | |||||
| activities | Support | ||||
| Direct | (see note | costs (see | |||
| Costs | 7) | note 8) | Totals | ||
| £ | £ | £ | £ | ||
| Supporting young people | 43,767 | 2,065 | 5,401 | 51,233 |
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
7. GRANTS PAYABLE
| 7. | GRANTS PAYABLE | |||
|---|---|---|---|---|
| 31.1.23 | 31.1.22 | |||
| £ | £ | |||
| Supporting young people | 2,065 | - | ||
| 8. | SUPPORT COSTS | |||
| Governance | ||||
| Management | costs | Totals | ||
| £ | £ | £ | ||
| Supporting young people | 4,741 | 660 | 5,401 | |
| 9. | NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 31.1.23 | 31.1.22 | |||
| £ | £ | |||
| Independent examiners fee | 660 | - | ||
| Depreciation - owned assets | 225 | 5,399 | ||
| Other operating leases | 4,442 | 4,546 | ||
| Surplus on disposal of fixed assets | (10,740) | - |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.
Trustees' expenses
Trustees expenses HC Helvon-Hardy £173
11. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31.1.23 | 31.1.22 | |
| £ | £ | |
| Wages and salaries | 20,299 | 36,196 |
| 20,299 | 36,196 | |
| The average monthly number of employees during the year was as follows: 3 | 3 |
No employees received emoluments in excess of £60,000.
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 5,432 |
| Charitable activities | |
| Supporting young people | 90,307 |
| Investment income | 18,000 |
| Total | 113,739 |
| EXPENDITURE ON | |
| Charitable activities | |
| Supporting young people | 111,781 |
| NET INCOME | 1,958 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (31,793) |
| TOTAL FUNDS CARRIED FORWARD | (29,835) |
13. TANGIBLE FIXED ASSETS
| COST At 1 February 2022 Disposals At 31 January 2023 DEPRECIATION At 1 February 2022 Charge for year Eliminated on disposal At 31 January 2023 NET BOOK VALUE At 31 January 2023 At 31 January 2022 |
Freehold property £ 225,000 - 225,000 - - - - 225,000 225,000 |
Plant and machinery £ 2,252 - 2,252 - 225 - 225 2,027 2,252 |
Motor vehicles £ 26,995 (26,995) - 19,119 - (19,119) - - 7,876 |
Totals £ 254,247 (26,995) 227,252 19,119 225 (19,119) 225 227,027 235,128 |
|---|---|---|---|---|
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
| 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.23 £ Other debtors - 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.23 £ Bank loans and overdrafts (see note 17) 6,269 Other loans (see note 17) 7,350 Hire purchase (see note 18) - Trade creditors (1) Social security and other taxes - Wage control - Other creditors 9,519 Accrued expenses 660 23,797 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.1.23 £ Bank loans (see note 17) 126,841 Other loans (see note 17) 133,526 Hire purchase (see note 18) - 260,367 17. LOANS An analysis of the maturity of loans is given below: 31.1.23 £ Amounts falling due within one year on demand: Bank loans 6,269 Other loans 7,350 13,619 Amounts falling between one and two years: Bank loans - 1-2 years 16,546 Other loans - 1-2 years 7,351 23,897 Amounts falling due between two and five years: Bank loans - 2-5 years 13,695 Other loans - 2-5 years 22,050 35,745 |
31.1.22 £ 6,762 31.1.22 £ 6,269 - 4,716 2 1,260 1,813 1,621 - 15,681 31.1.22 £ 133,990 147,000 13,900 294,890 31.1.22 £ 6,269 - 6,269 6,269 7,350 13,619 23,972 22,050 46,022 |
|---|---|
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
17. LOANS - continued
| Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal Other loans more 5yrs instal 18. LEASING AGREEMENTS Minimum lease payments under hire purchase fall due as follows: Net obligations repayable: Within one year Between one and five years 19. MOVEMENT IN FUNDS At 1.2.22 £ Unrestricted funds General fund (29,835) TOTAL FUNDS (29,835) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 37,464 TOTAL FUNDS 37,464 |
31.1.23 31.1.22 £ £ 96,600 103,749 104,125 117,600 200,725 221,349 31.1.23 31.1.22 £ £ - 4,716 - 13,900 - 18,616 Net movement At in funds 31.1.23 £ £ (14,396) (44,231) (14,396) (44,231) Resources Movement expended in funds £ £ (51,860) (14,396) (51,860) (14,396) |
|---|---|
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.2.21 £ Unrestricted funds General fund (31,793) TOTAL FUNDS (31,793) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 113,739 TOTAL FUNDS 113,739 |
Net movement At in funds 31.1.22 £ £ 1,958 (29,835) 1,958 (29,835) Resources Movement expended in funds £ £ (111,781) 1,958 (111,781) 1,958 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.21 | in funds | 31.1.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (31,793) | (12,438) | (44,231) |
| TOTAL FUNDS | (31,793) | (12,438) | (44,231) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 151,203 | (163,641) | (12,438) |
| TOTAL FUNDS | 151,203 | (163,641) | (12,438) |
continued...
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FABRIC FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023
20. RELATED PARTY DISCLOSURES
FABRIC Foundation owed FABRIC Support Services £8,625 at 31st January 2023.
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FABRIC FOUNDATION LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023
| 31.1.23 | 31.1.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | - |
| Donations | 2,665 | 5,432 |
| 2,666 | 5,432 | |
| Investment income | ||
| Rents received | 21,000 | 18,000 |
| Charitable activities | ||
| Fundraising | 6,123 | - |
| Grants | 7,675 | 90,307 |
| 13,798 | 90,307 | |
| Total incoming resources | 37,464 | 113,739 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Sundries | 627 | - |
| Charitable activities | ||
| Wages | 20,299 | 36,196 |
| Insurance | - | 189 |
| Telephone | 733 | - |
| Postage and stationery | 841 | 6,954 |
| Advertising | 691 | 433 |
| Sundries | 16 | 1,091 |
| Travel expenses | 1,844 | 9,248 |
| YP Service | 5,387 | 21,699 |
| YP Gym membership | 2,365 | 4,550 |
| YP additional activities | 2,473 | 8,802 |
| Property repairs | 14,522 | - |
| Plant and machinery | 225 | - |
| Motor vehicles | - | 5,399 |
| Loss on sale of tangible fixed assets | (10,740) | - |
| Bank loan interest | 5,111 | 10,670 |
| Grants to individuals | 2,065 | - |
| 45,832 | 105,231 | |
| Support costs | ||
| Management | ||
| Other operating leases | 4,442 | 4,546 |
| Computer costs | 299 | 1,354 |
| 4,741 | 5,900 |
This page does not form part of the statutory financial statements
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FABRIC FOUNDATION LTD
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | |||
|---|---|---|---|
| FOR THE YEAR ENDED 31 JANUARY 2023 | |||
| 31.1.23 | 31.1.22 | ||
| £ | £ | ||
| Management | |||
| Governance costs | |||
| Auditors' remuneration for non audit work | 660 | - | |
| Accountancy and legal fees | - | 650 | |
| 660 | 650 | ||
| Total resources expended | 51,860 | 111,781 | |
| Net (expenditure)/income | (14,396) | 1,958 |
Signature:
Email: mike.harvey@on-systems.co.uk
This page does not form part of the statutory financial statements
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