2024-03-31-accounts - Compact For Race Equality In South Tyneside

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Company Registration Number: 09978156 Charity Registration Number: 1169937

Compact For Race Equality in South Tyneside Limited Financial Statements For the Year Ending

31 March 2024

AJK ACCOUNTING SERVICES LTD

Financial Accountant 6 Coatham Road Stockton on Tees TS19 8QY

Compact For Race Equality in South Tyneside Limited

Financial Statements Year

Ended 31 March 2024

	Page
Trustees' Annual Report (Incorporating the Director's Report)	1
Independent Examiner's Report to the Trustees	5
Statement of Financial Activities (Including Income and Expenditure Account)	6
Statement of Financial Position	7
Notes to the Financial Statements	8
The Following Pages Do Not Form Part of the Financial Statements
Detailed Statement of Financial Activities	19

Compact For Race Equality in South Tyneside Limited

Trustees' Annual Report (Incorporating the Director's

Report) Year Ended 31 March 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

Aims and Objectives

CREST (Compact for Race Equality in South Tyneside) aims to promote racial equality and to assist people from communities in South Tyneside (and further afield) to enjoy a better quality of life by supporting those in need to gain access in education, training and employment, to raise aspirations and to ensure their voice is heard. This has resulted in highly successful projects that demonstrate value for money outcomes and social impact.

Achievements and Performance

As Chair of the Board, I would like to express my gratitude and admiration for the work done by everyone during April 2023–March 2024 financial year on behalf of Compact for Race Equality in South Tyneside management (board and leadership) , and staff as CREST has consistently produced positive results during this period and since its founding and these impactful achievements have made a difference to many lives of vulnerable BAME communities living within South Tyneside.

Reflecting on the past year

The past year has been incredibly busy for CREST, with many new projects and funders. We made sure to put our clients' needs, wants, and voices at the forefront of everything we delivered, and as our team grew, so did the amount of work. My sincere gratitude is extended to the following foundations and trusts that have supported the charity in continuing to deliver its goals by providing core and small grant funding. The team worked together to ensure that services are continuously available, despite the fact that the cost of living has a significant impact on our beneficiaries' access to services and mental health.

Our Funders

Garfield Weston Foundation
South Tyneside Council - HAF Programme
The Henry Smith Charity
Hadrian Trust
Latter Day Saints Church of Jesus Christ
LGA Foundation
Lloyds Foundation
The Earl of Northampton's Charity
TNL Community Fund - Reaching Communities
Reach Fund
South-Tyneside - Integrated Care Board
Tudor Trust
Virgin Money Foundation
UK Shared Prosperity Fund
Bernicia Trust
Willan Trust
Tyne & Wear Community Foundation
Other Small trusts

- 1 -

Compact For Race Equality in South Tyneside Limited

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year Ended 31 March 2024

Some of my personal highlights from our charitable activities within the year of 23/24 included:

Witnessing our continued commitment and dedication to deliver effective service through our 'What's On' programme which resembled service provision of between 15-25 items on a weekly basis excluding additional events and drop-ins that were targeted at improving the overall quality of life of those accessing our services.

Realising our holistic and intersectional approach to offering support that resulted in increasing social impact to many BAME accessing our service. Delivering services that are focused on maintaining a whole person approach to support, moving people forward in life and personal development. It has been warming to witness so many improve on their language and communication, skills and training, confidence and self-esteem and becoming happier and more grounded individuals holding a more firm sense of belonging through quality training and support.

Being part of the journey of seeing CREST establishing effective partnership and collaborative work approaches which prompted the buildup of professional relationships with other organisations such as Churches Together South Tyneside, Tyne & Wear Museums, Northumbria Police, Ocean Road Mela Consortium, Whist, Macmillan, The Phoenix Way, Mortimer Community College, The Customs House, WEA, New College Durham, Groundworks, South Tyneside Council, Marine Park Children Centre, Inspire South Tyneside, Mental Health Concern, Newcastle Building Society, NHS and etc.

Working effectively during the period of the organisational growth and development since our successorship plan has been challenging in many ways however the efforts have been rewarding as the team have moved from strength to strength within their practice which has effectively led to unique delivery of activities such as the Mela Festival and youth work, 20years on the organisation continues to simultaneously make impact to the communities it serve as reflected by its distinctive and unique recognition from its beneficiaries and other stakeholders

Our success is directly linked to the hard work of our team. We have made extraordinary progress this year, and I'd like to personally re- thank every team member for their energy, commitment and consistency in driving our charitable aims and objectives forward.

Financial Review

During the year ending 31st March 2024 income totaled £262,782 (2023 - £322,773) and expenditure totaled £319,318 (2023 - £275,806) giving an overall deficit for the year of £56,536 (2023 – surplus of £46,967).

Reserves Policy

CREST aims to hold reserves equal to 3 months' worth of running costs. This is estimated to be approximately £65000. As at 31st March 2024 "free" reserves totaled £24934.

Structure, Governance and Management

The organisation is a charitable company, incorporated on 31st January 2016 with company registration number 09978156. It was registered with the Charity Commission on 28th October 2016 with charity number 1169937. The assets, liabilities and activities of the unincorporated charity of the same name were transferred into the charitable company on 1st November 2016.

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Compact For Race Equality in South Tyneside Limited

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year Ended 31 March 2024

Reference and Administrative Details

Registered charity name Compact For Race Equality in South Tyneside Limited

Charity registration number 1169937

Company registration number 09978156

Principal office and registered 95 Fowler Street office South Shields Tyne & Wear NE33 1NU

The Trustees

Elizabeth Sunduzwayo (Chair)

Hamidur Chowdury (Treasurer) (Left 3 September 2023) Bakil Alddin (Appointed 8 February 2023) Efeteker Ali-Sayadi (Appointed 8 February 2023) Masud Raja (Appointed 8 February 2023) Tracy Paxton (Appointed 8 February 2023) Noor Ahmed (Appointed 8 February 2023)

Staffing

Staffing Shamiso Machaya Mahida Syeda Begum Hoda Darawasha Geua Atkinson Harmanjeet Kaur Mohsina Begum Shila Laskar Amanda Joy Aysha Bibi Hajer AlRuqaibi Volunteer Administrator Mussa Ntakirutimana Company Secretary Shamiso Machaya Independent Examiner AJK Accounting Services Ltd 6 Coatham Road Stockton on Tees TS19 8QY

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 28/12/2024 and signed on behalf of the board of trustees by:

Shamiso Machaya Charity Secretary

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Compact For Race Equality in South Tyneside Limited

Independent Examiner's Report to the Trustees of Compact For Race Equality in South Tyneside Limited

Year Ended 31 March 2024

I report to the trustees on my examination of the financial statements of Compact For Race Equality in South Tyneside Limited ('the charity') for the year ended 31 March 2024.

Responsibilities and Basis of Report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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

Since the charity’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 Financial Accountants, 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:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements 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
the financial statements 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.

John Kumpalume AFA MIPA Independent Examiner 6 Coatham Road Stockton on Tees TS19 8QY

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Compact For Race Equality in South Tyneside Limited

Statement of Financial Activities (including income and expenditure account)

	Year Ended 31 March	2024
		2024		2023
	Unrestricted	Restricted
	funds	funds	Total funds	Total funds
Income and endowments
Donations and legacies	5 300	249178	249478	284820
Charitable activities	6 4191	9000	13191	37930
Investment income	7 113	-	113	23
	──────	───────	───────	───────
Total income	4604	258178	262782	322773
	══════	═══════	═══════	═══════
Expenditure
Expenditure on charitable activities	8,9 9937	309381	319318	275806
	──────	───────	───────	───────
Total expenditure	9937	309381	319318	275806
	══════	═══════	═══════	═══════
Net income/(expenditure)	(5333)	(51203)	(56536)	46967
	═══════	════	══════	══════
Transfers between funds	-	-	-	-
Net movement in funds	( 5333)	(51203)	(56536)	46967
Reconciliation of funds
Total funds brought forward	30267	80628	110895	63928
	────────	──────	─────	──────
		───	────	───
Total funds carried forward	24934	29425	54359	110895
	════════	══════	═════	══════

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

The notes on pages 7 to 17 form part of these financial statements.

- 5 -

Compact For Race Equality in South Tyneside Limited Statement ol. Financial Position 31 March 2024 Statement of Financial Position as at 31 March 2024 Notes 2024 2023 Fixed Assets Tangible fixed assets 14 1,144 1,524 Current Assels Debtors Cash at bank and in hand Prepayments and accruals 15 9,000 54,884 992 11,809 98,522 64,876 110,331 Cu rrent Llabllltles Creditors Accruals 16 799 10,862 960 11,661 960 Net CurrentAssets 53,215 109,371 Net Assets 54.359 110,895 Charlty Funds Restricted funds U nrestricted f unds 29,425 24,934 54,359 80,628 30,267 110,895 18 F oi. the yeai. cnding 31 Mai-ch 2024 ihc chai'ily was entitled io exempiion frL)m audit undcr scclion 477 of the Compaiiies Act 2006 relating to small companies. DirLCtors' rebponsibiliti¢s'. The meiiibers have nol required the coinpany to obtain an audit of ils financial slaleinenlb for ihe year in qucstion in aLLordancc with section 476. The directors aLknowlcdgFC thcir rcsponsibilities t.or complying7 w'ith the requiremenli of ihc ALtwith i'¥SPLLt to aLLountingy i'icoi'ds and the pi'Lparation of financial statemLnts. These financial statemeiits have been prepared in accordance with the provisions applicable to companics siibject to tlie sniall companies, regime. Tliebe financial statements were approved by the board of trusteeb and authorised for issue on 2811212024, and are qigYiiLd oil bLhdlf of tliL' baard by: Name . Elizabcth Sunduzwayo {Chair) Sign Trustee The notes on pages 7 to 17 form part of these financial statements.

Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements

Year Ended 31 March 2024

1. General Information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 95 Fowler Street, South Shields, Tyne & Wear, NE33 1NU.

2. Statement of Compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The entity is a Public Benefit Entity.

Going Concern

There are no material uncertainties about the charity’s ability to continue.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees consider that there are no significant estimates or judgements affecting these financial statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.

Designated funds are unrestricted funds earmarked by the trustees for specific purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

3. Accounting Policies (continued)

Income

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.

Investment income is included when receivable.

Income from charitable trading activity is accounted for when earned.

Income from grants, related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Tangible Assets

Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised.

- 8 -

Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

3. Accounting Policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 25% reducing balance Computer Equipment - 33% straight line Office Equipment - 25% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial Instruments

The charity only has financial assets and 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.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

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.

Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

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.

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

3. Accounting Policies (continued)

Creditors

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

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

4. Limited by Guarantee

The company is limited by guarantee. At 31st March 2024 there were 7 members each of whom had undertaken to contribute an amount not exceeding £10 in the event of a winding up.

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

5. Donations and Legacies

==> picture [479 x 511] intentionally omitted <==

----- Start of picture text -----
Restricted Total Total Total
funds funds Funds funds
2024 2024 2023 2023
£ £ £ £
Grants
Tyne & Wear Community Foundation 21,510 21,510
Mercers Foundation 35,000 35,000 25,000 25,000
ESIF 9,400 9,400
Lloyds Foundation 27,250 27,250
South Tyneside Council - HAF programme 14,205 14,205
Church of the Latter Day Saints 19,493 19,493
National Lottery Community Fund 30,102 30,102
Awards For All 9,132 9,132
Church of the Latter Day Saints 3,793 3,793
Tudor Trust 38,500 38,500 35,000 35,000
Henry Smith Foundation 60,000 60,000 30,000 30,000
Reach Fund 8,000 8,000
LGA Foundation 6,500 6,500 6,500 6,500
Bernicia Foundation 10,000 10,000
Garfield Weston Foundation 15,000 15,000
Virgin Money Foundation 33,000 33,000
Other grant income 1,640 1,640
Barbours Mela Fund 5,000 5,000
CF - Mela Fund 2,500 2,500
Reaching Communities 59,934 59,934
Sports England 6,880 6,880
UK Prosperity 8,500 8,500
Willan Trust 10,819 10,819
1,340 1,340
249,178 249,178 284,820 284,820
----- End of picture text -----

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

6. Charitable Activities

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2024
		£	£	£
	S Tyneside Council - BAME Mental Health Support	–	9,000	9,000
	Room hire and other income	4491	–	4491
		───────	────────	────────
		4491	9,000	13491
		══════	═══════	════════
7.	Investment Income
		Total Funds	Unrestricted	Total Funds
		2024	Funds	2023
	£	£	£	£
	Investment income	113	113	23
		════	════	════

8.	Expenditure on Charitable Activities by Fund Type	Expenditure on Charitable Activities by Fund Type
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2024
		£	£	£
	Costs of charitable activities (see page 19)	9937	309381	319318
		═══════	═══════	════════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		£	£	£
	Costs of charitable activities (see page 19)	2337	273469	275806
		════════	═══════	════════
9.	Expenditure on Charitable Activities by Activity Type
		Activities
		undertaken	Total funds	Total fund
		directly	2024	2023
		£	£	£
	Costs of charitable activities (see page 19)	319,318	319,318	275,806
		═════════	════════	═══════

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

10. Net Income/(Expenditure)

Net income/(expenditure) is stated after charging/(crediting):

Net income/(expenditure) is stated after charging/(crediting):
	2024	2023
	£	£
Depreciation of tangible fixed assets	380	2,337
	═══════	════
Independent Examination Fees
	2024	2023
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	700	700
	════	════

11. Independent Examination Fees

12. Staff Costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2024	2023
	£	£
Wages and salaries	188,664	148,903
Social security costs	7,056	5,643
Employer contributions to pension plans	4568	1,960
	─────────	──────
		───
	200,288	156,506
	═════════	═══════

The average head count of employees during the year was 9 (2022: 8). The average number of full-time equivalent employees during the year is analysed as follows:

	2024	2023
	No.	No.
Number of management staff	2	1
Number of project staff	8	7
	_
		────
	10	8

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity.

13. Trustee Remuneration and Expenses

Trustees received neither remuneration nor expenses during the year ending 31st March 2024 (2023 - Nil).

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

14. Tangible Fixed Assets

	Fixtures & Fittings	Computers Equipment	Office Equipment	Total
Cost	£	£	£	£
At 1 April 2023	7,063	12,885	20,370	40,318
Additions	-	-	-

At 31 March 2024	7,063	12,885	20,370	40,318

Depreciation
At 1 April 2023	6,248	12,885	19,661	38,794
Charge for theyear	203		177	380

At 31 Mrch 2024	6,451	12,885	19,838	39,174

Carrying amount
At 31 March 2024	612		532	1,144
At 31 March 2023	815		709	1,524

15. Debtors

	2024	2023
	£	£
Trade debtors	9,000	10,817
Prepayments	992	992
Accrued income	–
	────────	──────
		──
	9,992	11,809
	════════	══════
Creditors: amounts falling due within one year
	2024	2023
	£	£
Trade creditors	799	260
Accruals and deferred income	10862	700
Social security and other taxes	–
Pension creditor	–
	────	──────
		──
	11661	960
	════	══════

16. Creditors: amounts falling due within one year

17. Pensions and Other Post Retirement Benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,568 (2023: £1,960).

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

18. Analysis of Charitable Funds (continued)

18. Analysis of Charitable Funds

Unrestricted funds

	At 1 April				At 31 March
	2024	Income	Expenditure	Transfers	2024
	£	£	£	£	£
General fund	30,267	4604	(9937)		24934
Capital fund	1,524	–	(380)		1144
	`────────`	`───────`	`───────`	`────────`	`────────`
	31,791	4604	(10317)		26078
	`════════`	`═══════`	`═══════`	`════════`	`════════`
					At 31
	At 1 April 2023	Income	Expenditure	Transfers	March 2024
	£	£	£	£	£
General fund	15,971	2,961		9811	28,743
Capital fund	3,601	–	2,337	260	1,524
	────────	───────	────────	────	────────
	19,572	2,961	2,337	10,071	30,267
	════════	══════	════════	════	════════

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Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

18. Analysis of Charitable Funds (continued)

Restricted funds	At 1 April 2023	Income	Expenditure	Transfer		At 31 March 2024
	£	£	£	£		£
Church of the Latter Day Saints	1,938		1,938
Tyne & Wear Community Foundation - Local Environmental Ac	1,425		1,425
Tyne & Wear Community Foundation - Volunteer Project	116		116
Tyne & Wear Cmmunity Foundation - Mela Festival		2,500	2,500
Barbour Foundation		5,000	3,994			1,006
Lloyds Foundation	10,685		10,685
S Tyneside Council - HAF Programme	2,865	14,205	17,069			1
Garfield Weston Foundation	4,697		4,697
Greggs Fund	215					215
NHS - Carers Response project	3,907		3,907
Community Foundation - Chai Chat	225		225
Mercers Foundation		35,000	29,498			5,502
Tudor Trust		38,500	38,500
S Tyneside Council -Gigital Inclusion Commissioning	484					484
S Tyneside Council - Mental Health Support	5,987	9,000	11,300			3,687
S Tyneside Health Collaboration - BAME Mental Health	3,501		3,501
Awards for All - Network Aspire	2,171		2,171
Bernicia Foundation	8,498		8,498
Tyne & Wear Community Foundation - Watkin Family Fund	553		553
Hadrian Trust	1,000		1,000
Henry Smith	132	60,000	60,132
LGA Foundation - Network Aspire	1,404	5,000	2,796			3,608
LGA Foundation - Winter warm packs	1,042	1,500	1,800			742
Reach Fund	3,500		3,500
National Lottery Community Fund - Reaching Communities	16,199	59,934	64,582			11,551
Winter Warmers (via Community Foundation	9,830		9,830
Ukraine Women Support	254					254
CF - Mela Fund		1,340				1,340
Sports England		6,880	1,595			5,285
UK Prosperity		8,500	8,500
Willan Trust		10,819	10,819
UKSFP 25			4,250		-	4,250
	80,628	258,178	309,381			29,425

- 16 -

Compact For Race Equality in South Tyneside Limited

Notes to the Financial Statements (continued)

Year Ended 31 March 2024

18. Analysis of Charitable Funds (continued)

19. Analysis of Net Assets Between Funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Tangible fixed assets	1,144	–	1,144
Current assets	9,992	54,884	64,876
Creditors less than 1 year	(11661)	–	(11661)
	────────	────── ──	─────── ──
Net assets	(525)	54,884	54359
	════════	═══════	════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Tangible fixed assets	1,524	–	1,524
Current assets	29,703	80,628	110,331
Creditors less than 1 year	(960)	–	(960)
	────────	───────	────────
Net assets	30,267	80,628	110,895
	════════	═══════	════════

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Compact For Race Equality in South Tyneside Limited

Management Information

Year Ended 31 March

2024

The Following Pages Do Not Form Part of the Financial Statements.

Detailed Statement of Financial Activities

Year Ended 31 March 2024

	2024	2023
	£	£
Income and endowments
Donations and legacies
Tyne & Wear Community Foundation		21,510
Mercers Foundation	35,000	25,000
ESIF		9,400
Lloyds Foundation		27,250
South Tyneside Council - HAF programme	14,205	19,493
National Lottery Community Fund		30,102
Awards For All		9,132
South Tyneside Council - Digital Inclusion	–	-
Church of the Latter Day Saints		3,793
Tudor Trust	38,500	35,000
Carers Response project	–	--
Henry Smith Foundation	60,000	30000
Reach Fund		8,000
LGA Foundation	6,500	6,500
Bernicia Foundation		10,000
Garfield Weston Foundation		15,000
Virgin Money Foundation		33,000
Barbour’s Mela Fund	5,000
Reaching Communities	59,934
Sports England	6880
UK Prosperity	8,500
Willan Trust	10,819
CF – Mela Fund	2,500
Other grant income	1340	1,640
	─────────	───────
		──
	249178	284820
	─────────	───────
Charitable activities
S Tyneside Health Collaboration - BAME Mental Health Support		25,992
S Tyneside Council - BAME Mental Health Support	9,000	9,000
Room hire and other income	4604	2,938
	────────	──────
		──
	13604	37,930
	────────	──────
		──
Investment income
Investment Income	113	23
	────	────
	─────────	───────
Total income	262782	322,773
	═════════	═══════

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Compact For Race Equality in South Tyneside Limited

Detailed Statement of Financial Activities (continued)

Year Ended 31 March 2024

Expenditure	2024	2023
	£	£
Wages and salaries	188,664	148,903
Employer's NIC	7,056	5,643
Pension costs	4,568	1,960
Rent	9,540	13,304
Insurance	750	2,143
Travel and volunteer costs	10,266	8,005
Professional and consultancy fees	28,372	26,073
Office costs	22,138	19,436
Depreciation	2,717	2,337
Workshop costs	25,741	29,923
Children's activities	14,104	8,735
Staff training	203	2,854
Other costs	5199	6,490
	─────────	──────
		───
Total expenditure	319,318	275,806
	═════════	═══════
	─────────	──────
		───
Net income/(expenditure)	(56,536)	46,967
	═════════	══════

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