CHARTfY REGISTRATION NUMBER: 1174045 Spectra Unaudited Financial Statements 31 March 2024 CANTELOWES LIMITED Chartered Certified Accountants 15 Bowling Green Lane London EC1R OBD
Spectra Flnanclal Statsments Year endod 31 March 2024 Page Trustees, annual report Independent examinerfs report to the trustees Stalement of financial activities Stalement of financial position Statement of cash flows Notes lo the financial statements
Spectra Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited ffinancial statements of the company for the year ended 31 Mar¢h 2024. Roforenco and administrativ• d•tsllg Reglstered charlty name Spectra Charity registralion number 1174045 Prln¢lpo1 offtce Sl Charles Centre for Heatth & Well Being W10 6DZ The Irustgos Ramses Underhill-smilh Mr PF Taylor N Collinson Independent exarnlner Paul Ashby FCCA 15 Bowling Green Lane London EC1R OBD Structure, governance and management The constitution was adopted on the 3(Xh of July 2017. Spectra CIO is verned by 8 Board of Trustees wth expertise andlor lived experience from the target Fopulalions and issue5 Srrtlra's $eM¢es seek lo meet. Trustees (apart from the first charity trustees) are appcinled for an initial temi of three years by a re$olutK)n passed at a properfy convened meeting of the charity trust. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective 8dminigtratK)n of the CIO. Spectra CIO Trustees.. Peter Taylor tenm renewed until October 2026. Ramses Underhill-smith term renewed until 1 st October 2025. Natascha Collinson was appointed as Trustee on 13 July 2022. Spectra CIO works closely with Swtra CIC, with both agencies supporting the same objectives and SUPF¥Jrting the Same groups. The Board of Trustees have an oversight responsibility lo ensure the charity is meeting its stated aims and obJecte$ and serving the target communities as stated.
Spectra Tru8tees' Annual Report (ctInUe Year ended 31 March 2024 ObJectlve8 and actlvhle8 SFectra CIO d$ registered with the Charity Commission on the 31st of July 2017, and the fi'rst actlvkles as a Charitsble Incorporated organisatic began in 2018. The objects of the CIO are to promote and protect the good heatih and wellbeing of indNiduals in London, in particular, groups who are socially marginalised, al pticular risk andlor economically disadvanlaged by providing peer led clear, accurate and credible inf¢rmation, advice and support $eNces. Spectra prowdes health and vll-being services for individuals and communities most of need of SUPFOrt to improve their sexual arKI emotional health and well-being and to address heamh inequalities. Servi3 include uJunselling, mentoring, health checks and testing, social and support groups and one to one support. Achievements and perfomiance SFectra CIO promotes the good health and wellLing of indiwduals in London and surrounding area$. in particular groups who are xrially marginalised. at paCUlar risk 8ndlor economically disadvantaged,. by providing peer led clear, accurgle and credIe infomiation. advice and support serviceg. A8 such Ihis vK>rk is of public neffi1. Spectra Charity have funded one day per week over the past year for a dedicated counselling retsouf lo support with student placents and contribute to Ihe Strateg development planning of Spe¢li8's fulure ¢ounselling ServeS. Spectra Charity ran an art therapy course for trans and non-binary peOe over the past year. The group ran for 8 sessions, covering self-care and Support, bjdy, self-image and self-esteem, community and connection. Spectra CIO ran a successful Mindfvlness Based Chemsex Recovery course with men struggling with chemsex behaviours, to support their Ireatrnenl gains and maintain ongoing recovery and wellIng. The course remains a unique opportunity for rnen who have sex with men to access this type of support. and feedback and attendance remains ex¢dlenl. Spectra CIC continues to operate a hardship grant for individuals struggling to access services and or support. 2 further grants were approved and to date the scheme has provided over 20 gonts. funding recipien19 for a range of reasons, ircluding provisions of equipment to allow access to services, hardware lo be able lo contribute to online meetings. and food grants for individuals who experienced significant financial hardship due toloss of inrne, asylum Stalus and inability lo find work.
Spectra Trustees. Annual Report (conlinu Year ended 31 ljlarch 2024 Flnancial roviow The trustees consider the financial position of the charity lo be salisfaclory. The charity currendy has £64,407 of unrestricled fvnds which will permit InCaSed support to beneficiaries, Spectra remains in a Secu position with dynamic delivery models allowing it lo remain a 90ing concern. 1510912024 The trustees, annual report was approved on .............................. and signed on behalf of the board of trustees by.. N Collinson Trustee
Spectra Independent ExaMIneS Report to the Trustses Year ended 31 March 2024 I rewrt to the trustees on my éxamination of the flnancial statements of Stra {'Ihe company'l for the year ended 31 March 2024. Regponslblllues and bagis of report Respective responsibilities of Iruslees and examiner As the ¢harity'$ trustees of the company land also its directors for the purposes of company law) you are respoTh8ible for the prep8ration of the accounts in accordance with the requirements of the Companie5 Act 2006 {'the 2006 A¢t'l. Having satisfied myself that the accounts of the company are not required lo be audited undèr Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my 8xamination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In ¢arryirKJ out my examination I have followed the Directions given by the Charity Commission under section 14515) Ibl of the 2011 Act. Independent examinerfs statoment I have complel&J my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records wEre not kept vi respect of the company as required by section 130 of the Act., or the financtal statements do not )rd th those records,. or the financial statenwts do not compty with the applicable requirements conceming the form and ¢ontent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the aecounts give a 'true and fall view which is not a matter ¢on$idered as part of an independent examinab'on. I have no conoms and have Con across no olher matters in connection with the examination to which attention should be drawn In this repjrt in order to enable a proper understsnding of the accounts to be reached. f au Paul Ashby FCCA Independent Examiner 15 Bowling Green Lane London EC1R OBD
Spectra Statsment of Financial Activities Year ended 31 March 2024 2024 Unreslrithd fund$ Total funds Tclal fund5 2023 Not• Incom8 and 8ndowmonts Donations and legacies Investment incom6 5,033 148 5,033 148 49,038 97 Total Incorne 5,181 5,181 49.135 Expenditure Expenditure on charitable actwtlies Total expenditur• 55,631 55,631 55,631 9,993 9,993 55.631 Not lexpgnditurn)lincome and not mov¢mont in funds 150,4501 (50,4501 39,142 Reconclllatlon of funds Tolal fvnds brought foNard Totsl fund$ ¢arrlod forYArd 114,857 114,857 64.407 75.715 64,407 114,857 The ststement of financial activities includes all gains and b5ses Cogn5$ed in the year. All income and expenditure derive from continuing activities. Th• not•¥ on pages B to 12 tomi part of th08e flnanclal statemgnts.
Spectra Statsment of Financial Position 31 March 2024 2024 2023 Current awts Debtors Cash al bank and in hand 10 31 64.376 64.407 64.407 84.407 46,607 68,250 114,857 114,857 114,857 Nel currenl a880ts Total assets less current Ilabllltles Funds of the charlty Unrestricted funds 64,407 64,407 114,857 Total charlty funds 11 114,857 These finanrial slatemenls were approved by the board of trustees and authorised for issue on 1.51Q?J.2Q24......., and are sned on behaw of the board by.. N Collinson Trustee Tho notss on paw 8 to 12 forni part of thgs• financial 8t4t•ments.
Spectra ststement of Cash Flows Year gnded 31 March 2024 2024 2023 Cash flo from operatlng actlvltles Net {expenditure)fincome (50,450) 39.142 Adjustments for. other interest receivable and slmllar income Aecrued expensesl{income} (148) 46,576 (97) 114,5761 Changes in.. Trade and other debtors Trade and other creditors 1311 {7,9191 16,519 Cash generated from operations (4,022) Interest received 148 97 Net cash (used inllfrom cperaling activities (3.874) 16,616 Not (d•Cre111ncrease in cash and cash equlvalent8 Ca8h and cash equivalents at beginning of year Cash and cash equivalénts at end of year 13,874) 88,250 64,376 16.616 51,634 68,250 Th? nots¥ on pa 8 to 12 forni part of these financial Btatements.
Spectra Notes to the Financial Statements Year ended 31 March 2024 General inforniation The company is a public benefit entity and a registered charity in England and Wales and is unin¢orpNated. The aldress of the principal office is St Charles Centre for Health &, Well Being, W10 6DZ. Statsm?nt of compfian¢e These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporb'ng Stsndard 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 ReFL)rting Standard applicable in the UK and Republic of Ireland {FRS 102) Icharits'es SORP IFRS 10211 and the Charities Act 2011. Accounllng pollcie5 Ba81$ crf prnparation The financral statements have been prepared cn the historical cost basis, as modrfied by the revaluation of certain financial assets and liabilities and investment properties ffleasured at fair value through income or expendilwe. The financial statements are prepared in sterling, vthi¢h is the functional currency of the entity. Going concern Spectra remains in a secure position with dynamt delivery models allowing it to remain a gting concem. Judgements and kèy Source8 of e8tlmatlon uncortainty The preparation of the finanGial statements requires management to make judgements. esb'mates and assumptions that affect the amounts rep)rted. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believgj to be reasonable under the circumstances. Fund a¢¢ounting Unrestricted funds are available for use at the discretion of the trustees lo fvrther any of the charity's purposes. Designated fvnds a unreslrictsd funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to reStrtionS on their eXndItUre declared by the dOrr through the term8 of an appeal, and fall inlo one of sub-¢la$ses.' restricted income funds or endowment funds.
Spectra Notes to the Financial Statements (¢onUnwdJ Year ended 31 March 2024 Accounting policies {¢OntIm) In¢omlng r080urc08 All incoming reSoUrS are induded in the statement of finanaal activities when entitlement has passed to the charity", it is probable that the econom benefits associated with the transaction wlll flow to the charity and the amount can be reliably measured. The followng specific Folicies are applied to particular categories of income-. income from donations or grants is reccgnised when there is èvidenc8 of ents'lement to the gift. receipt is probable and its amount C te measured reliably. legacy income is reccgnised wn r&ceipt is probable and entitlenEnt 1$ established. income from donated gcods is measured at the fair value of the goods unless this is impractical lo rneasure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supFAy of seNi¢es is recognised with the delivery of the contracted service. This is classified as unrestricted ftjnds unless there is a contractual requirement for it to be Spent on a particulaf purwse and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is rewgnised on an arualS basis as a liabilrty is incurred. Expendilure includes any VAT which cannot te fully recovered, and is classified under headings of the ststement of financial activities to which it relates". expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading acts"vrties. and the sale of donated go¢>Js. expenditure on charitable activities includes all costs incurred by a charity in undertaking acts'vities that further ils chantable aims for the benefit of ils beneficiaries, including those support costs and costs relating to the g)vemance of the charity apportioned lo charitable acts"vitles. other exkEnditure includes all expenditure that is neilh8r related to raising funds for the charity nor part of its expenditure on ¢haritable activities. I costs are allocated lo expenditutE categories Teflecting the use of the resource. Direct costs attributable to a single activity are all(Kated directly to that activity. Shared costs are apportioned the activiti8$ th&y contribute to C a reasonable, justifiable and consistent basis. Flnanclal Instruments A financial asset or a financial liability is recognised only when the company becom&s a paty to the contrxlual provisK)ns of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Spectra Notss to the Financial Statsments (¢anknwdJ Yaar ended 31 March 2024 Accountlng pollcl88 (continued) Financial in8trumont8 (wi#nued) Current assets and current liabilities are subsequently measured at the cash or other ¢onsideration expect8J to be paKI u received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicty traded or their fair value can otherwse measu relk4bly, the investment is subsequently measured at fair value with changes in fair value recognised in Income and expenditure. All other such invesknents are subsequently measUd at cost less impairment_ Oiher financial instruments, induding derivatives. are initially recognised at frdir value, unless payment for an asset is defeTred beyond nom)al business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted al a market rale of interest for a Similar debt instrument. Other financial instruments are subsequently measured al fair value. with any changes recognised in the ststement of finanual aetlvitles, wtth the exception of hedging instruments in a de$KJnated hedging relationship. Financial assets that are rneasured at $t or am¢)rtised cost are r8viewed for obje¢live evidence of ImpalmnI at the end of each reporting dale. If there is objective evidence of impaimient, an mpaim)ent loss is ognISed under the appropriate heading in the statement of financial activhies in vthich the initial gain syas recognised. For all equity instruments regardless of significance, and other financial assets that are individually significanl these are assessed individually for impaiment. Other financial assets a eilh&r assessed individually or grouped the basis of similar credit risk characteristics. Any reversals of impaiment are rgnised immediately, to the extent that the reversal does not result in a ¢a(rying amount of the financial assel that exceeds what the carrying amount wo(Ad have been had the impairmenl not previously been ¢OgnISed. Donatlons and legacie8 Unrestricted Total Fund$ Unrestricted Totsl Funds Funds 2024 Funds 2023 Donations Donations 5,033 5,033 49,038 49,038 Inve81m•nt In¢omo Unrestricted Total Fund8 Unrestricted Total Funds Funds 2024 Funds 2023 Bank inte$t receivable 148 148 97 97 10
Spectra Notss to the Financial Ststements (conlinu•dJ Year ended 31 March 2024 Ewndituro on ¢haritable adlvhlos by fund type Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Actiwty type 1 55,e31 55,631 9.993 9,993 Expendlture on charltable acliviti6s by actlvlty type Activities undertaken Total funds direct 2024 Total lund 2023 Activity tyre 1 55,631 55,631 9,993 Particular4 of omployoos The tolal staff costs and employee benefits for the rep)rting are alysed as follows: 2024 2023 The averaje head count of employees during the year was Nil12023: Nil}. No employee received employee tenefits of more than £60,000 during Ihe year12023.' Nill. Trustoe romungration and gxpense$ no remuneration or other benefits from employment wth the charity or a reLql&J entity were received by the trustees,. or 10. Debtorn 2024 2023 Prepayments and arUed incon Other debtors 46,576 31 31 31 46,607 11
Spectra Notes to the Financial Statsments Year ended 31 March 2024 11. Anatysig of charitablo fundg Unrestricted funds At 31 March 202 At 1 Apnl 2023 Income Expenditure General funds 114,857 5,181 155,6311 64,407 At 31 March 202 At 1 Aprfl 2022 Income ExFenditure General funds 75,715 49,135 {9,9931 114,857 12. Analy$b of net assets betweèn funds Unre5tri¢ted Total Funds Funds 2024 Current Assets 64,407 64,407 Unrestricted Total Funds Funds 2023 Current Assets 114,857 114,857 13. Anal18 of ¢hang•$ In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 68.250 {3.8741 64,376 12