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2023-03-31-accounts

CHARITY REGISTRATION NUMBER: 1173626

Amazing Grace Spaces Unaudited Financial Statements

31 March 2023

ELLIS LLOYD JONES AUDIT LIMITED

Chartered accountants 11 Park Square Newport South Wales NP20 4EL

Amazing Grace Spaces

Financial Statements

Year ended 31 March 2023

Page
Trustees' annual report 1
Independent examiner's report to the trustees 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10

Amazing Grace Spaces

Trustees' Annual Report

Year ended 31 March 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

Reference and administrative details
Registered charity name Amazing Grace Spaces
Charity registration number 1173626
Principal office Llanwern Park Farm
Llanwern Village
Newport
NP18 2DS
The trustees Reverend L Freckleton
Mrs J Sims
Mr G Nicholas
Mr S Waters
Independent examiner Kara Williams BSc BFP FCA
11 Park Square
Newport
South Wales
NP20 4EL

1

Amazing Grace Spaces

Trustees' Annual Report (continued)

Year ended 31 March 2023

Structure, governance and management

Amazing Grace Spaces is a charitable incorporated organisation and is governed by its constitution, dated June 2017. The charity was set up by Caroline and Stuart Johnson. Amazing Grace Spaces (hereafter AGS) would like to thank the trustees for their hard work and commitment over the last year alongside staff and volunteers. We would like to thank all the stakeholders that have supported the charity this year we know without your support we would not have accomplished the aims and objectives of the charity. We want to especially thank Green Pastures who purchased Grace house and the amazing continued support they give. Also thank you to Lloyds Foundation for two years funding and their expertise in a number of areas that has given AGS the opportunity to grow the work they are doing.

Jade Sims is the Chair of Amazing Graces Spaces with Lester Freckleton, Steven Waters and Gary Nicholas making up the board of the trustees.

Trustees meet 6 times a year, overseeing the governance of the charity, making decisions about the charity's finances, safeguarding, health and safety, projects, and activities to ensure they are meeting the charity's aims and objectives. We have resumed meeting in person again also, trustees are kept up to date by emails and phone calls, if decisions need to be made regarding governance of the charity. The Director is responsible for the day to day running of the charity. Where Trustees have expertise in a certain area, they work closely with the Director on projects to ensure their development and success.

To ensure that AGS is carrying out its primary purposes for the public benefit, all trustees work with the 6 key duties issued by the Charity Commission. All trustees understand they must act exclusively in the best interests of the charity, being actively involved in decision making and the governance of the charity. Each trustee is expected to agree and sign a document to that effect.

Recruitment and training of trustees

We are always actively looking for new trustees that can bring new levels of expertise to the charity.

When recruiting a new trustee, the candidate is asked for a pen profile, put in writing to the Trustees, explaining why they would like to join the board, with a brief description of experience and what they can bring. The Director and Chair meet with the interested party, to discuss what the charity does and the role and responsibilities of a trustee. Once all agree and the paperwork has been completed, including DBS check, the person is invited to the next Trustees meeting. Trustees are offered training outsourced by Thirty-one eight, an external organisation which provides all safeguard and trustee training. They also complete all DBS checks for the organisation including trustees.

2

Amazing Grace Spaces

Trustees' Annual Report (continued)

Year ended 31 March 2023

Objectives and activities

The objectives of the charity are:

The relief of those in need in England and Wales through homelessness, addictions and other social and/or economic problems by providing support, education, practical advice and low-cost accommodation.

Mission

Amazing Grace Space's mission is to develop and provide innovative, sustainable, affordable quality accommodation and emergency shelter for those in need, to partner with other homeless services to ensure homeless people have access to support, a safe space to recover. This mission will enable AGS to offer tenants the support they require. This will be developed for each resident offering assessments, mentoring, volunteering, training, and work experience. AGS is committed to establishing a sound base, at the heart of the charity are people, developing community and sustainability.

Aims

The charity aims to:

The charity wishes to move towards providing a sustainable response for disabled, homelessness, sofa surfers, and the vulnerably housed, offering a pathway into:

At AGS, our Core Values, for the most vulnerable in society, are focussed around giving:

It is important that Trustees, staff, and volunteers understand AGS core values. Our aim is to support the most vulnerable in society by investing in them getting to know them what their interests are how we can support them to meet their potential.

3

Amazing Grace Spaces

Trustees' Annual Report (continued)

Year ended 31 March 2023

Achievements and performance

We have a long-term lease for one house with Green Pastures CBS Limited, namely, Grace house in Newport, which was bought in 2019. The house accommodates 5 ladies and the house is constantly being updated and repaired, offering an excellent standard of living accommodation. Referrals for Grace house have come from HMP Parc prison, several residential rehabilitation programs and various organisations that work with women and self-referrals. Since the beginning of our project, the occupancy rate has been 14 residents. We have provided 1,550 nights of accommodation in the last year. In 2023, we have had 8 potential residents referred. 5 residents were offered a place. Two of the residents are still at Grace house. Unfortunately, it has been difficult to move any residents onto independent living due to the lack of available accommodation.

Over the past year, we have landscaped the garden at Grace house, which was very overgrown. It now has flowerbeds, and we are growing vegetables. This has been a positive outcome for the ladies for their mental health and wellbeing. This year, we have installed a new kitchen and utility room at the house.

We currently have a director and 2 house managers at Grace house. We have volunteers willing to support the ladies at Grace house, taking them for a coffee and catch up and listening to see how they can support residents working with staff to give the best outcome for each resident. Staff and volunteers support the residents to access work, college, volunteering, fitness, and emotional wellbeing, making sure residents go to appointments. Each manager is assigned a resident who they meet weekly to discuss what steps they are taking for moving on and their future. This is documented, and the positive outcomes are built on. There is a house meeting and a staff and volunteer meeting monthly, to discuss issues. The residents, staff and volunteers work together so that the house can be a safe and positive place to live.

We are proud of the positive outcomes at Grace house. Grace house is unique in the services it provides, promoting an attitude of individual, strength-based outcomes for each resident. Sadly, it is becoming harder to move ladies on to independent living because of lack of housing and its also harder to motivate the ladies. One lady works with two organisations and is growing in confidence with the support she is receiving. Another is working on a course for computer coding and working towards a Open University course. Another two are working through their problems and doing well with the hope to move to independent living. It doesn't always work out and one lady who initially did well was recently recalled to prison as she struggled in a open environment after being in prison for some years. Another, after a short stay at Grace house, returned to her family.

Through our subsidiary Homes 1st Limited, we continue to build and sell urban emergency sleep pods, which has contributed to the funding of AGS. We continue to sell the pods to charities and councils, which has added to the sustainability of the charity. We have regular enquiries and are trying to build on the sale of the pods year on year. The benefit of this activity is two-fold, providing those sleeping rough around the UK a safe space to sleep. We know from partners who have purchased the pods that those entrenched in homelessness, who are offered a pod, are engaging with services which can work to offer the client permanent accommodation but also providing AGS with a source of income. We have sold 33 pods across the UK since designing and building them.

We have updated our website and social media with the help of Lightmedia. We have started our blogs, which also appear on the website for people to see what we are doing. We completed the new housing contracts to meet the criteria that Welsh Assembly have stated to all landlords in Wales. This was a huge process for a small charity and thanks to our trustee, Lester Freckleton, who helped with the process. We have worked with a lot of new professionals, promoting AGS and getting involved in a greater way with these organisations.

A big thank you to all the trusts, foundations and people that have made one off donations and grants

4

Amazing Grace Spaces

Trustees' Annual Report (continued)

Year ended 31 March 2023

supporting our work especially those that support us monthly, both monetary and by giving their time.

Public benefit statement

The objects of the charity are to:

Financial review

Total income during the year was £123,663 compared to £102,553 in 2022. The increase was due to increased grant funding and an increase in the number of residents at Grace House, which consequently led to an increase in rental income from charitable activities. Restricted income, consisted of grant income of £30,000 (2022: £5,753 (grants) and £21,034 (income from charitable activities)). The trustees were pleased to be awarded total grant funding of £62,050 (2022: £32,528) and are grateful to all partners for their continued support.

Total expenditure for the year was £100,345 (2022: £86,653). The increase was due to refurbishment of the garden at Grace house and increase in other costs due to inflation. As resident numbers increase at Grace house, naturally the support costs also increase. Following a small transfer to one of the restricted funds, there was a surplus of £12,965 during the year on the unrestricted fund (2022: surplus of £10,450) and a surplus on the restricted funds of £10,352 (2022: surplus of £5,450). Overall, there was a surplus of £23,318 (2022: surplus of £15,900) as grants towards the year end have been carried forward to next year.

The balance at the year end on the unrestricted fund was £34,223 (2022: £21,258) and the restricted fund was £23,925 (2022: £13,572). Total funds carried forward at 31 March 2023 were £58,148 (2022: £34,830). .

5

Amazing Grace Spaces

Trustees' Annual Report (continued)

Year ended 31 March 2023

Plans for future periods

Having a full house at Grace house is important for our future. We want to continue to offer the best opportunities for the ladies living at the house. We have started looking for funding for 3 years to keep Grace house open and fully support the requirement for the services it offers. As we are reaching capacity at Grace house, we have identified a second property with Green Pastures and are currently waiting for the completion which would expand our accommodation and enable us to help more women. Our supported accommodation has now been renamed Grace to Grace Supported Housing and the new property will be Naomi house.

We understand with less suitable accommodation available where the ladies can move after they leave Grace house, we need to secure suitable accommodation for the ladies at Grace house once they move on. Some will need support for a long period of time because of mental health. We are in communication with our partners about potential opportunities for such accommodation.

We are excited for the future as we continue to offer a safe space, with support and recovery for ladies fleeing domestic violence or leaving prison with no accommodation, leaving residential programs or who are homeless. Our supported accommodation is unique, in the terms of what it provides. We will walk the journey with each new resident, helping them stay positive and focused. Staying in recovery is the biggest and hardest thing they will do, without support. We will support them as they grow spiritually and personally through volunteering, training, education, and work.

We are excited to offer emergency sleep pods and affordable accommodation and will be promoting the house the accommodation with the support of the Trustees and partners across the UK.

Reserves policy

The trustee's aim is to work towards ensuring sustainability for the charity and aims to build up reserves of at least 3 months costs to ensure project continuity. As a new charity, this is a work in progress and something the trustees continue to work towards to ensure that the charity can continue its work, helping those in need.

Oct 23, 2023 The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Lester Freckleton (Oct 27, 2023 17:33 GMT+1) Reverend L Freckleton Trustee

Jade Sims (Oct 23, 2023 17:59 GMT+1)

Mrs J Sims Trustee

6

Amazing Grace Spaces

Independent Examiner's Report to the Trustees of Amazing Grace Spaces

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of Amazing Grace Spaces ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Kara Williams

Kara Williams (Oct 27, 2023 18:24 GMT+1)

Kara Williams BSc BFP FCA Independent Examiner

11 Park Square Newport South Wales NP20 4EL

Oct 27, 2023

7

Amazing Grace Spaces

Statement of Financial Activities

Year ended 31 March 2023

2023 2022
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 43,589 30,000 73,589 80,480
Charitable activities 5 48,631 – 48,631 22,024
Investment income 6 1,443 – 1,443 49
──────── ──────── ───────── ─────────
Total income 93,663 30,000 123,663 102,553
════════ ════════ ═════════ ═════════
Expenditure
Expenditure on charitable activities 7,8 80,670 19,675 100,345 86,653
──────── ──────── ───────── ─────────
Total expenditure 80,670 19,675 100,345 86,653
════════ ════════ ═════════ ═════════
──────── ──────── ───────── ─────────
Net income 12,993 10,325 23,318 15,900
════════ ════════ ═════════ ═════════
Transfers between funds (28) 28 – –
──────── ──────── ───────── ─────────
Net movement in funds 12,965 10,353 23,318 15,900
Reconciliation of funds
Total funds brought forward 21,258 13,572 34,830 18,930
──────── ──────── ───────── ─────────
Total funds carried forward 34,223 23,925 58,148 34,830
════════ ════════ ═════════ ═════════

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 10 to 19 form part of these financial statements.

8

Amazing Grace Spaces

Statement of Financial Position

31 March 2023

2023 2022
Note £ £
Fixed assets
Tangible fixed assets 14 19,050 11,689
Current assets
Debtors 15 20,762 14,002
Cash at bank and in hand 23,688 14,946
──────── ────────
44,450 28,948
Creditors: amounts falling due within one year 16 5,352 5,807
──────── ────────
Net current assets 39,098 23,141
──────── ────────
Total assets less current liabilities 58,148 34,830
──────── ────────
Net assets 58,148 34,830
════════ ════════
Funds of the charity
Restricted funds 23,925 13,572
Unrestricted funds 34,223 21,258
──────── ────────
Total charity funds 18 58,148
════════		 34,830
════════

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: Oct 23, 2023

Lester Freckleton (Oct 27, 2023 17:33 GMT+1)

Reverend L Freckleton Trustee

Jade Sims (Oct 23, 2023 17:59 GMT+1) Mrs J Sims Trustee

The notes on pages 10 to 19 form part of these financial statements.

9

Amazing Grace Spaces

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is a charitable incorporated organisation. The address of the principal office is Llanwern Park Farm, Llanwern, Newport, NP18 2DS, United Kingdom.

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 Charities Act 2011.

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 investment properties measured at fair value through income or expenditure.

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

Going concern

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

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

10

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

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:

Short leasehold property - 17% straight line Plant and machinery - 25% straight line Equipment - 25% straight line

11

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

12

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

4. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Donations 11,539 – 11,539
Grants
Grants receivable 32,050 30,000 62,050
──────── ──────── ────────
43,589 30,000 73,589
════════ ════════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Donations
Donations 47,952 – 47,952
Grants
Grants receivable 26,775 5,753 32,528
──────── ─────── ────────
74,727 5,753 80,480
════════ ═══════ ════════
5. Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Grace House rent 48,631 – 48,631
════════ ════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Grace House rent 990 21,034 22,024
════ ════════ ════════
6. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Bank interest receivable 45 45 – –
Other interest receivable 1,398 1,398 49 49
─────── ─────── ──── ────
1,443 1,443 49 49
═══════ ═══════ ════ ════

13

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

7. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Provision of community support 3,813 3,610 7,423
Provision of affordable accommodation 73,802 15,065 88,867
Provision of training and work in the community – – –
Support costs 3,055 1,000 4,055
──────── ──────── ─────────
80,670 19,675 100,345
════════ ════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Provision of community support 13,171 3,974 17,145
Provision of affordable accommodation 37,869 17,363 55,232
Provision of training and work in the community 10,589 – 10,589
Support costs 3,687 – 3,687
──────── ──────── ────────
65,316 21,337 86,653
════════ ════════ ════════
8. Expenditure on charitable activities by activity type
Activities
undertaken
Support		 Total funds Total fund
directly costs 2023 2022
£ £ £ £
Provision of community support 7,423 – 7,423 17,145
Provision of affordable accommodation 88,867 600 89,467 55,232
Provision of training and work in the
community – – – 10,589
Governance costs – 3,455 3,455 3,687
──────── ─────── ───────── ────────
96,290 4,055 100,345 86,653
════════ ═══════ ═════════ ════════
9. Analysis of support costs
Accounts and
management Total 2023 Total 2022
£ £ £
General office 600 600 –
════ ════ ════
10. Net income
Net income is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible fixed assets 3,864
═══════		 4,107
═══════

14

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

11. Independent examination fees

2023 2022
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,604
═══════		 2,400
═══════

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:
2023 2022
£ £
Wages and salaries 32,190 27,104
Social security costs 1,411 1,282
Employer contributions to pension plans 455 427
──────── ────────
34,056 28,813
════════ ════════

The average head count of employees during the year was 3 (2022: 2).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

13. Trustee remuneration and expenses

There was no trustee remuneration or any expenses claimed by trustees during the current or prior years.

14. Tangible fixed assets

Short
leasehold Plant and
property machinery Equipment Total
£ £ £ £
Cost
At 1 April 2022 17,993 917 3,513 22,423
Additions 10,028 – 1,197 11,225
──────── ──── ─────── ────────
At 31 March 2023 28,021 917 4,710 33,648
════════ ════ ═══════ ════════
Depreciation
At 1 April 2022 7,499 917 2,318 10,734
Charge for the year 3,323 – 541 3,864
──────── ──── ─────── ────────
At 31 March 2023 10,822 917 2,859 14,598
════════ ════ ═══════ ════════
Carrying amount
At 31 March 2023 17,199 – 1,851 19,050
════════ ════ ═══════ ════════
At 31 March 2022 10,494 – 1,195 11,689
════════ ════ ═══════ ════════

15

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

15. Debtors

2023 2022
£ £
Amounts owed by group undertakings 20,632 14,002
Other debtors 130 –
──────── ────────
20,762 14,002
════════ ════════
Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 2,604 2,400
Social security and other taxes 1,020 604
Other creditors 583 741
Other creditors 1,145 2,062
─────── ───────
5,352 5,807
═══════ ═══════

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 £455 (2022: £427).

18. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At 1 At 31
April 2022 Income Expenditure Transfers March 2023
£ £ £ £ £
General funds 21,258 93,663 (80,670) (28) 34,223
════════ ════════ ════════ ════ ════════
At 1 At 31
April 2021 Income Expenditure Transfers March 2022
£ £ £ £ £
General funds 10,808 75,766 (65,316) – 21,258
════════ ════════ ════════ ════ ════════

16

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

18. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At 1 At 31
April 2022 Income Expenditure Transfers March 2023
£ £ £ £ £
Comic Relief – – – – –
J Andrew Trust 1,419 – (1,419) – –
Albert Hunt grant 8,283 – (8,283) – –
Trak 2000 grant – – – – –
Morrisons grant 2,840 – (2,840) – –
Community foundation 1,030 – (1,030) – –
The Hobson Charity
grant – – – – –
Newport City Council
Participatory fund – 5,000 (5,000) – –
Margaret Davies Charity – 10,000 (323) 28 9,705
Cheshire Homes – 5,000 – – 5,000
Newport City Council – 10,000 (780) – 9,220
──────── ──────── ──────── ──── ────────
13,572 30,000 (19,675) 28 23,925
════════ ════════ ════════ ════ ════════
At 1 At 31
April 2021 Income Expenditure Transfers March 2022
£ £ £ £ £
Comic Relief 930 754 (1,684) – –
J Andrew Trust 2,192 – (773) – 1,419
Albert Hunt grant 5,000 5,000 (1,717) – 8,283
Trak 2000 grant – 13,003 (13,003) – –
Morrisons grant – 5,000 (2,160) – 2,840
Community foundation – 1,030 – – 1,030
The Hobson Charity
grant – 2,000 (2,000) – –
Newport City Council
Participatory fund – – – – –
Margaret Davies Charity – – – – –
Cheshire Homes – – – – –
Newport City Council – – – – –
─────── ──────── ──────── ──── ────────
8,122 26,787 (21,337) – 13,572
═══════ ════════ ════════ ════ ════════

17

Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

18. Analysis of charitable funds (continued)

Comic relief

The Comic relief grant was received towards the cost of a professional counsellor to support charity beneficiaries.

J Andrew Trust

This donation provided one year's funding towards the salary costs of the House Manager at Grace House.

Albert Hunt grant

The Albert Hunt grant was received towards the cost of a professional counsellor to support charity beneficiaries.

Trak 2000 grant

The Trak 2000 grant provided one year's funding towards the salary costs of the house manager at Grace House.

Community Foundation grant

The Community Foundation grant was received towards maintenance costs for Grace House.

The Hobson Charity grant

The Hobson Charity Grant was received towards the cost of roof repairs which were required on Grace House.

The Newport City Council Participatory fund

The Newport City Council Participatory fund grant was received towards counselling support provided to residents of Grace House.

Margaret Davies Charity

The Margaret Davies Charity grant was received towards the kitchen refurbishment costs at Grace House. This was completed during 2022-23. The grant will however be amortised in line with the depreciation charged over the remaining years of the Grace House lease.

Cheshire Homes

The Cheshire Homes grant was received towards counselling costs for residents at Grace House and once established, Naomi House.

Newport City Council

The Newport City Council grant was received towards the salary costs of one of our House managers at Grace House.

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Amazing Grace Spaces

Notes to the Financial Statements (continued)

Year ended 31 March 2023

19. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 9,346 9,705 19,051
Current assets 30,230 14,220 44,450
Creditors less than 1 year (5,353) – (5,353)
──────── ──────── ────────
Net assets 34,223 23,925 58,148
════════ ════════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Tangible fixed assets 11,689 – 11,689
Current assets 15,376 13,572 28,948
Creditors less than 1 year (5,807) – (5,807)
──────── ──────── ────────
Net assets 21,258 13,572 34,830
════════ ════════ ════════

20. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
Not later than 1 year 17,400 17,400
Later than 1 year and not later than 5 years 26,100 43,500
──────── ────────
43,500 60,900
════════ ════════

21. Related parties

Included in amounts owed by group undertakings is £20,632 (2022: £14,002) owed to the charity by its subsidiary, Homes 1st Limited. An interest charge of £1,398 was applied to the year end loan balance and is included within other interest receivable. The interest rate charged was 7.27%. The trustees are in constant discussion with the director of Homes 1st Limited about the subsidiary's performance and repayment of the balance owed to the charity and are satisfied that the balance is recoverable.

Total trustee donations in the year were £1,000 (2022: nil) and were unrestricted.

There were no other related party transactions.

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