GFS Community Enterprise
Company registration number: 10042412 Charity Number: 1169462
Trustees’ Report and Financial Statements
For the Year Ended 31st March 2023
GFS Community Enterprise Trustees’ Report and Financial Statements For the year ended 31 March 2023
Contents
| Contents | |
|---|---|
| Page: | |
| Trustees and Professional Advisors | 1 |
| Trustees’ Report and Strategic Report | |
| Chair’s Statement | 2 |
| Financial Review | 3 |
| Structure, Governance and Management | 4-5 |
| Statement of Responsibilities | 6 |
| Independent Examiner’s Report | 7 |
| Financial Statements | |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of Cash Flows and Net Debt Analysis | 10 |
| Notes to the Financial Statements | 11-19 |
GFS Community Enterprise Trustees’ Report and Strategic Report For the year ended 31 March 2023
Trustees
Philippa Goff Jonathan Morgan Helen Thomson (Chair) Howard Metcalf (appointed 20 February 2023) Jacqueline Simpson (appointed 22 March 2023) Jane South (appointed 27 February 2023) Peter Atkinson (appointed 01 March 2023) Jonathan Wilson (resigned 02 September 2022) Nigel Booth (resigned 11 March 2023) Rachael Fox (resigned 02 September 2022)
Registered Office
1st Floor 51a St Paul’s Street Leeds LS1 2TE
Independent examiner
Sally Appleton Saffery LLP Mitre House North Park Road Harrogate North Yorkshire HG1 5RX
Bankers
Santander Bootle Merseyside L30 4GB
Solicitors
Wrigleys 3[rd] Floor 3 Wellington Place Leeds LS1 4AP
Page 1
GFS Community Enterprise Trustees’ Report and Strategic Report For the year ended 31 March 2023
Chair’s Statement
It has been a successful year for The Old Fire Station and on behalf of the Board, I am proud to present the Trustees’ Report and Financial Statements for the year ended 31 March 2023. We continue to demonstrate at The Old Fire Station that the community business model works and our building is maintained to the same high standard as when it first opened. This is a credit to all staff, trustees, and volunteers.
We celebrated our 5[th] birthday in 2022 and to fully understand the role and importance of The Old Fire Station we commissioned an independent impact report to see what difference we are making in Gipton. We engaged Leeds Beckett University to do an independent study and gather information and evidence from lots of people in the area and stakeholders, we had 272 questionnaires returned!
We hoped that it would demonstrate how successful the model of the Old Fire Station has become and the report shows what we have achieved together. The headline findings are:
The place is making a difference, from people who come to meet friends in the café to young people who say what is important to them is that they feel safe!
It is calculated that the savings to the NHS through the provision are in the range of £345k per year.
I can’t miss giving you one more figure – that for every £1 invested there is a return of £20.45 on the investment.
The Old Fire Station has continued to strengthen the partnerships with all the organisations housed in the building and with others in Gipton; working together to deliver support for the wellbeing of the community. The ‘Meet Me at the Old Fire Station’ project with Space2, Zest and The Old Fire Station continues to develop; and this year we have 32 volunteers actively engaged across organisations.
The Old Fire Station continues to be seen as a safe place to come to and we are a designated safe space for support, help and a place to meet. Looking ahead to next year and beyond we will continue our engagement with the community to develop The Old Fire Station and ensure that the setting remains as welcoming today as it has always been and seek to improve it to make it even better.
Helen Thomson Chair of Trustees
Page 2
GFS Community Enterprise Trustees’ Report and Strategic Report For the year ended 31 March 2023
Financial Review
Review of financial activity
The financial statements have been prepared in accordance with the Companies Act 2006 and Charities Act 2011. The company has adopted FRS102 and complies with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (issued in December 2019).
During the year net outgoing resources of £50,000 (2022: £76,000) were deducted from the restricted funds and an unrestricted surplus of £11,000 (2022: £28,000) was realised during this period of operation resulting in the net assets of the company decreasing by £39,000 (2022: £48,000). The company’s total funds amounted to £2,463,000 (2022: £2,502,000) at 31[st] March 2023 of which the net book value of the building is £2,290,000.
Reserves Policy
The policy of the company is to maintain sufficient capital in order to carry out its charitable objectives.
Unrestricted free general reserves: The Trustees are committed to holding general reserves to ensure that the core activities of GFS will continue into the future. The Trustees consider the range of unrestricted free general reserves required are represented by the following 2 scenarios: 1) GFS ceases to operate and the legal obligations to pay which would be incurred; and 2) GFS needs to implement a turnaround plan and the running costs which would be needed during this period taking in to account any income which is secure.
This gives a target range of reserves of £26,000 to £28,000. The Trustees report that the free general reserves of the Charity (our unrestricted reserves less our fixed assets) at 31 March 2023 have decreased to £27,000 (2022: £28,000). Designated reserves of £27,000 (2022: £15,000) are “ring-fenced” and no longer form part of free general reserves.
Designated reserves: Designated funds are those unrestricted funds which have been set aside by trustees for an essential spend or future purpose. These funds are then ‘ring-fenced’ and no longer form part of unrestricted general funds. During 2023 the trustees have designated £12,000 to the fund for maintenance of the building, bringing the balance to £27,000. Further amounts will be designated into this maintenance fund when the financial results and the free general reserves position allow. It is expected that this designated reserve will be spent on major items of maintenance which are expected to occur over the next 10 years as the building ages.
Restricted Reserves: The composition of, and movement in, restricted reserves is shown in note 11 to the financial statements. The restricted funds at the year-end were either held in the form of cash in bank accounts, current assets or in fixed assets - property.
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GFS Community Enterprise Trustees’ Report and Strategic Report For the year ended 31 March 2023
Structure, Governance and Management
Legal and Administrative details
The company was incorporated on 3[rd] March 2016 as a company limited by guarantee with registered company number 10042412. It is a registered charity under the Charities Acts 2011, registration number 1169462. Community Foundation for Leeds (referred to throughout as Leeds Community Foundation) is the sole member of this company. The principal and registered office is Leeds Community Foundation, 1st Floor, 51a St Paul’s Street, Leeds, LS1 2TE.
Principal Activity
The company was set up to purchase, develop and operate the former fire station in Gipton as a community and enterprise hub. Gipton Fire Station opened in 1937 and closed its doors for service as an active fire station in 2015 having played a significant role in the local community for 75 years. Working with the community, Leeds Community Foundation facilitated the funding of the purchase and renovation of the building using grants from Jimbo’s Fund – the legacy of local entrepreneur Jimi Heselden. Born and brought up in East Leeds, Jimi went on to run a number of successful businesses but never forgot the importance of “giving back”. Between 2010 and 2013, Jimi donated substantial funds to enable Leeds Community Foundation to make grants to community organisations in the local area.
During the period since incorporation, on 3[rd] March 2016, the company has purchased the old fire station at Gipton and renovated the site with this work being completed in July 2017. The site – known as The Old Fire Station – opened to the general public in September 2017 as a Community and Enterprise Hub. It is home to a number of primarily Third Sector tenants including charities and social enterprises. In addition, it has a community café open for tenants, visitors and the general public and a range of meeting rooms available for hire by the local community, charities, and businesses on a graded hire rate. GFS has worked collaboratively with a number of the tenants to deliver projects in the local area that are in line with GFS’s charitable objectives.
The charitable objectives of the company are to own and manage a building to enable tenants to provide the following services:
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the relief of unemployment
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the advancement of education, training, or retraining, particularly among unemployed people, and providing unemployed people with work experience
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the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help in setting up their own business, or to existing businesses
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the provision of recreational facilities in the interests of social welfare for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship, or social and economic circumstances, have need of such facilities
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promoting the efficiency and effectiveness of charities and the effective use of charitable resources
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promotion of the voluntary sector by providing facilities and support
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning activities.
Page 4
GFS Community Enterprise Trustees’ Report and Strategic Report For the year ended 31 March 2023
Structure, Governance and Management (continued)
Trustees
The trustees are appointed by the Board of Trustees. The Articles of Association allow for a minimum of 3 trustees and a maximum of 10. LCF, for so long as it is the sole member, shall be entitled at any time by written notice to the Charity to appoint and/or remove any person or persons as a Trustee or Trustees. One third (or the number nearest one third) of the Trustees must retire each year, those longest in office since their last appointment retiring first. A retiring Trustee who remains qualified may be reappointed until they have served a maximum of nine years. Additional trustees have been appointed during this period to broaden the skills of the Board.
Meetings
The Board of Trustees meet regularly to agree the broad strategy and areas of activity of the company. At the meetings, the Trustees are regularly updated on the range of activities and the associated financial budget and performance.
Policies and Procedures adopted for the Recruitment, Induction and Training of Trustees
The Board keeps the skill requirements for the Trustee Body under review. Any recruitment of new Trustees is undertaken by open advertisement and through a dialogue with interested parties. When an individual expresses an interest in becoming a Trustee, an initial meeting is held with the Chair. References are sought and a proposal to appoint a new Trustee is submitted to the Board for approval. Once an appointment has been made, the newly elected Trustee undergoes an induction programme. The Charity keeps up to date with key developments and training is provided to Trustees as and when required.
Risk Factors
The Trustees actively review the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Fundraising
The company does not use a professional fundraiser or commercial participator to raise funds and we do not directly approach individual members of the public. Local press campaigns are used to raise awareness of our work and advise people how to donate should they wish to do so. During the period, no complaints have been received about our fundraising activities. Our fundraising practices comply with Charities Act 2011, the Charities (Protection and Social Investment) Act 2016, and the Code of Fundraising Practice.
The Future
We will continue our engagement with the community to develop The Old Fire Station and ensure that the setting remains as welcoming today as it has always been and seek to improve it to make it even better. When the financial results and the free general reserves position allow, we will continue to build our designated reserve for maintenance of the building.
Page 5
GFS Community Enterprise Trustees’ Report and Strategic Report For the year ended 31 March 2023
Trustees’ Responsibilities Statement
The trustees (who are also directors of GFS Community Enterprise for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that 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.
This report was approved by the Trustees on 21 August 2023.
Helen Thomson
Chair of Trustees On behalf of GFS Community Enterpris
Page 6
GFS Community Enterprise Independent Examiner’s Report to the members of GFS Community Enterprise For the year ended 31 March 2023
Independent examiner’s report to the trustees of GFS Community Enterprise
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Respective responsibilities of trustees and examiner
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.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 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.
Signed:
Sally Appleton
Sally Appleton (Dec 13, 2023 11:46 GMT)
Name: Sally Appleton Institute of Chartered Accountants England and Wales Address: Saffery LLP Mitre House, North Park Road, Harrogate HG1 5RX
Date:
Page 7
GFS Community Enterprise
Statement of Financial Activities (incorporating statutory income & expenditure account) For the year ended 31 March 2023
| Unrestricted Funds Notes £'000 Income and endowments from: Charitable activities 2 - Other trading activities 3 162 Investments 2 _ Total 164 _ Expenditure on: Charitable activities 4,5 127 Other 6 26 _ Total 153 _ Net income/(loss) 11 _ Net movement in funds 11 11 Reconciliation of funds: Total funds brought forward 43 _ Total funds carried forward 54 ___ _ __ |
Restricted Funds £'000 89 - - _ 89 _ 139 - _ 139 _ (50) _ (50) 2,459 _ 2,409 __ ____ |
Total Funds 2023 £'000 89 162 2 _ 253 _ 266 26 _ 292 _ (39) _ (39) 2,502 _ 2,463 |
Total Funds 2022 £'000 89 154 - _ 243 _ 268 23 _ 291 _ (48) _ (48) 2,550 _ 2,502 |
|---|---|---|---|
All activities related to continuing operations. All gains and losses recognised in the period are included above.
Page 8
GFS Community Enterprise Balance Sheet
As at 31 March 2023
| Notes 2023 £'000 Fixed assets Tangible fixed assets 7 Current assets Debtors 8 19 Cash at bank and in hand 208 _ 227 Liabilities: Creditors: amounts falling due within one year 9 (55) _ Net current assets Net assets 10 Funds Restricted funds 11 Unrestricted funds 11 Unrestricted funds: Designated 11 Total funds |
2022 £'000 £'000 2,291 16 204 _ 220 (77) _________ 172 _________ 2,463 _ 2,409 27 27 __ 2,463 ____ |
£'000 2,359 143 ___ 2,502 |
|---|---|---|
| __ _ 2,459 28 15 __ 2,502 ____ |
The notes on pages 11 -19 form part of these financial statements.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The trustees have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime.
Approved by the Trustees on 21 August 2023 and signed on its behalf by:
Helen Thomson Chair of Trustees
Page 9
GFS Community Enterprise Statement of Cash Flows and Net Debt Analysis For the year ended 31 March 2023
| Cash flows from operating activities: Net loss for the financial period Adjustments for: Depreciation charges Dividends and interest from investments (Increase)/ decrease in debtors (Decrease)/ Increase in creditors Net cash provided by operating activities Cash flows from investing activities: Dividends and interest from investments Purchase of property, plant and equipment Net cash provided by/ (used in) investing activities Change in cash and cash equivalents in the period Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of the period Net Debt Analysis Cash Total |
__ _ |
2023 £'000 (39) 68 (2) (3) (22) _ 2 2 - ___ 2 4 204 ___ 208 _ At 1 Apr 2022 £’000 204 ____ 204 __ ___ |
2022 £'000 (48) 73 - 29 2 _ 56 - (2) ___ (2) 54 150 ___ 204 _ Cash flows £’000 4 _ 4 __ ___ |
At 31 Mar 2023 £’000 208 ___ 208 _ __ ___ |
|---|---|---|---|---|
Page 10
GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
1 Accounting policies
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with Statement of recommended Practice ‘Accounting and Reporting by Charities’ (issued in December 2019) and applicable United Kingdom accounting standards including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Going concern
The board of Trustees have considered the financial position of the charity and based on a review of forecasts and available funds, have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in the preparation of the financial statements and annual report.
Income
All incoming resources are included in the Statement of Financial Activities when the company is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Charitable activities - Grant income is recognised based on the performance model and recognised when performance criteria have been met.
Donations and legacies - Voluntary income is received by way of grants, donations and gifts (including donations in kind). These amounts are included in full in the Statement of Financial Activities in the year in which they are receivable.
Rental income - income from a tenant’s leases or from a licence to occupy is recognised on an accruals basis in accordance with this policy.
Expenditure
All expenditure is accounted for on an accruals basis. No costs need to be apportioned to activities as all costs can be directly attributed to specific activities.
Charitable activities - Costs incurred specifically in the ownership, development, and operation of The Old Fire Station in Gipton.
Other costs - Costs incurred in connection with governance and compliance with constitutional and statutory requirements. These costs include costs related to independent examination and legal fees.
Fixed assets
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of the assets over their expected useful lives on a straight-line basis. Assets under the course of construction are not depreciated until the asset is complete.
| Land & Buildings | 2.5% |
|---|---|
| Office Furniture and equipment | 25% |
| IT Equipment | 33% |
Fund accounting
Monies earmarked by donors, or by the terms of an appeal for particular projects, are accounted for separately, as a Restricted Fund. The notes to the accounts show the movements and balances on any such restricted funds. Unrestricted funds may be spent on any legitimate charitable aim, as laid down in the company’s Memorandum & Articles of Association.
Page 11
GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
1 Accounting policies (continued)
Reserves
Unrestricted free general reserves: The Trustees are committed to holding general reserves to ensure that the core activities of GFS will continue into the future. There is a calculated range of reserves against which the actual reserves will be measured at each year end.
Designated reserves: Designated funds are those unrestricted funds which have been set aside by trustees for an essential spend or future purpose. These funds are then ‘ring-fenced’ and no longer form part of unrestricted general funds.
Restricted reserves: Trustees consider for what purpose restricted funds are held and ensure they are being spent in accordance with the funding agreement setting out the restrictions.
Judgements and estimates
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates based on the physical condition of the assets.
2 Charitable activities: income
| Restricted funds: Healthy Holidays Meet Me At The Old Fire Station Covid Prevention Project Small grants Season of Light Bike Friendly Strategic: Resilience Digital Inclusion Household Support Other income Unrestricted funds: Rental income received Events income |
_ |
2023 £'000 21 11 - 8 - - - 40 9 _ 89 __ ____ 2023 £'000 160 2 __ 162 _ |
2022 £'000 29 10 (1) 20 (1) 2 30 - - _ 89 _ 2022 £'000 153 1 __ 154 ____ |
|---|---|---|---|
3 Other income
Page 12
GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
4 Charitable activities: costs
| Unrestricted funds: Property running costs Salaries and social security costs Other support and administration costs Restricted funds: Property running costs Activity based costs Activity based costs: salaries Staff costs and remuneration Salaries Pension costs |
_ |
2023 £'000 59 32 36 _ 127 71 57 11 __ 139 __ 266 _ 2023 £'000 42 1 _ 43 ____ |
2022 £'000 45 43 15 _ 103 80 85 - ___ 165 ___ 268 _ 2022 £'000 42 1 __ 43 ____ |
|---|---|---|---|
_ |
5 Staff costs and remuneration
The average number of employees during the year was 2 FTE (2022: 2 FTE). No employee (2022: 0) had total employee benefits (excluding employer pension costs and national insurance costs) of more that £60,000. During this year and the prior year, no Trustees received remuneration and none were reimbursed for travel and other expenses.
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GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
6 Other costs
| 6 Other costs | |||||
|---|---|---|---|---|---|
| Trustees have not charged any expenses in relation to 7 Fixed assets Land and Buildings £'000 Cost Opening balance at 1 April 2022 2,658 Additions - _ Closing balance at 31 March 2023 2,658 __ ____ Depreciation Opening balance at 1 April 2022 302 Charge for the year 66 ___ Closing balance at 31 March 2023 368 Net book value At 31 March 2023 2,290 __ At 31 March 2022 2,356 _ __ ___ Unrestricted funds: Legal and professional costs Independent Examiner’s remuneration |
governance. Office equipment £'000 53 - _ 53 __ _ 50 2 ______ 52 1 __ 3 _ __ ___ 2023 £'000 23 3 ___ 26 __ ____ |
IT equipment £'000 17 - _ 17 __ _ 17 - ______ 17 - __ - _ __ ___ 2022 £'000 21 2 _ 23 ____ |
_ |
Total £'000 2,728 - _ 2,728 __ _ 369 68 _____ 437 2,291 __ ___ 2,359 _ __ ___ |
|
_ |
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GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
8 Debtors
| Trade debtors Prepayments and accrued income Creditors: amounts falling due within one year Trade creditors Accruals and deferred income VAT Liability Amount owed to related charity |
2023 £'000 9 10 __ 19 ____ 2023 £'000 4 42 9 - __ 55 ____ |
2022 £'000 10 6 __ 16 |
|---|---|---|
| __ _ 2022 £'000 5 58 10 4 _ 77 ____ |
9 Creditors: amounts falling due within one year
Included in accruals and deferred income is £28,000 (2022: £30,000) of rental income received in the year that relates to future periods.
Deferred income Analysis
| Deferred income Total |
At 1 Apr 2022 Movement £’000 £’000 30 (2) _ _________ 30 (2) __ _ __ ___ |
At 31 Mar 2023 £’000 28 ___ 28 _ __ ___ |
|---|---|---|
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GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
10 Analysis of Net Assets between Funds
| Current year Unrestricted Funds £'000 Fixed assets - Current assets 17 Current liabilities (55) Cash 92 _ Net Assets 54 _ Prior year Unrestricted Funds £'000 Fixed assets - Current assets 16 Current liabilities (63) Cash 90 __ Net Assets 43 ____ |
Restricted Funds £'000 2,291 2 - 116 _ 2,409 _ Restricted Funds £'000 2,359 - (14) 114 __ 2,459 ____ |
Year Ended 31 March 2023 £'000 2,291 19 (55) 208 _ 2,463 _ Year Ended 31 March 2022 £'000 2,359 16 (77) 204 __ 2,502 ____ |
Year Ended 31 March 2022 £'000 2,359 16 (77) 204 _ 2,502 _ Year Ended 31 March 2021 £'000 2,430 45 (75) 150 __ 2,550 ____ |
|---|---|---|---|
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GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
11 Movement in Funds
| Current year Unrestricted funds Unrestricted funds - designated Total Unrestricted funds Restricted funds: Jimbo’s Fund Healthy Holidays Small grants Bike Friendly Meet Me At The Old Fire Station WYH Targeted Prevention Strategic: Resilience Household Support Digital Inclusion Total Restricted funds Total Funds |
At 1 April 2022 £'000 28 15 _ 43 _ 2,434 - 1 2 - 6 16 - - __ 2,459 ____ 2,502 |
Income Expenditure £'000 £'000 164 153 - - _ _________ 164 153 _ _ - 71 21 21 8 9 - 2 11 11 - 4 - 12 9 8 40 1 _________ _________ 89 139 _ _ __ 253 292 |
Transfer £'000 (12) 12 _ - _ - - - - - - - - - __ - ____ - |
At 31 March 2023 £'000 27 27 ___ 54 |
|---|---|---|---|---|
| __ _ 2,363 - - - - 2 4 1 39 ______ 2,409 |
||||
| __ ____ 2,463 |
In 2022/23, £12,000 was transferred from the unrestricted general funds to the unrestricted designated fund. The unrestricted designated funds are to cover those costs not included within the routine maintenance costs as the renovated building moves in to the next 5 years of operation. It is expected that this designated reserve will be spent on major items of maintenance which are expected to occur over the next 10 years as the building ages.
Jimbo’s Fund – grant received to enable the purchase and fund the renovation of The Old Fire Station. Costs primarily relate to depreciation.
Healthy Holidays - this programme addresses holiday hunger, through promoting healthy holiday activities and providing food to a cohort of eligible families.
Strategic Resilience Fund - to help management take on strategic development work alongside daily operational delivery and to enable the preparation of an impact report covering the first 5 years of operation.
Digital Inclusion Fund - to help promote the benefits of being online to digitally excluded people in the community.
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GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
11 Movement in Funds (continued)
| Prior year At 1 April 2021 £'000 Unrestricted funds 15 Unrestricted funds - designated - _ Total Unrestricted funds 15 _ Restricted funds: Jimbo’s Fund 2,513 Healthy Holidays - Small grants 2 Season of Light 1 Bike Friendly 1 Meet Me At The Old Fire Station - Covid Prevention Project 3 WYH Targeted Prevention 15 Strategic: Resilience - __ Total Restricted funds 2,535 _ Total Funds 2,550 _ __ |
Income Expenditure £'000 £'000 154 126 - - __ _ 154 126 _ _ - 79 29 29 20 21 (1) - 2 1 10 10 (1) 2 - 9 30 14 ________ _________ 89 165 _ _ 243 291 _ _ __ |
Transfer £’000 (15) 15 __ - ____ - - - - - - - - - ________ - _ - _ __ |
At 31 March 2022 £'000 28 15 ___ 43 |
|---|---|---|---|
| __ _ 2,434 - 1 - 2 - - 6 16 ______ 2,459 |
|||
| __ _ 2,502 _ __ |
12 Related Party Transactions
During the year, an amount of £16,578 (2022: £13,333) was payable to Leeds Community Foundation for finance and administration services, of which £nil (2022: £3,620) was owed by GFS Community Enterprise to Leeds Community Foundation as at 31 March 2023.
Healthy Holidays grants from Leeds Community Foundation totalling £21,000 were received in 2022/23, of which £4,000 was deferred from 2021/22.
13 Pensions
GFS has registered as an employer with the NEST workplace pension scheme. The assets of the scheme are held separately to those of GFS in independently administered funds. The pension charge in the year represents contributions to the NEST pension scheme and amounted to £1,000 (2022: £1,000). There were no outstanding contributions at 31 March 2023 (2022: £nil).
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GFS Community Enterprise Notes to the Financial Statements For the year ended 31 March 2023
14 Comparative Statement of Financial Activities (incorporating statutory income & expenditure account) for the year ended 31 March 2022
| Unrestricted Funds Notes £'000 Income and endowments from: Donations 2 - Charitable activities 3 - Other trading activities 4 154 _ Total 154 _ Expenditure on: Charitable activities 5,6 103 Other 7 23 _ Total 126 _ Net loss 28 _ Net movement in funds 12 28 Reconciliation of funds: Total funds brought forward 15 _ Total funds carried forward 43 ___ _ __ |
Restricted Funds £'000 - 89 - _ 89 _ 165 - _ 165 _ (76) _ (76) 2,535 _ 2,459 __ ____ |
Total Funds 2022 £'000 - 89 154 _ 243 _ 268 23 _ 291 _ (48) _ (48) 2,550 _ 2,502 |
Total Funds 2021 £'000 21 50 135 _ 206 _ 215 17 _ 232 _ (26) _ (26) 2,576 _ 2,550 |
|---|---|---|---|
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