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## **THE PEOPLE HIVE**
## **Connecting Adults with a Learning Disability with the Community**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
**The People Hive** is a company limited by guarantee Registered in England and Wales Company Number 10927793 Registered Charity Number 1174852
Address and Registered office 8 Heath Road Twickenham TW1 4BZ T 020 8977 5447 E info@thepeoplehive.org W www.thepeoplehive.org
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **COMPANY INFORMATION**
|DIRECTORS (Trustees)|Mark D. Albrow||
|---|---|---|
||Hugh S. Evans||
||Patrick Hehir||
||Bernadette Jansen||
||Amanda J. Lenheim||
||Peter J. Stockdale|- Chairman|
||Jacqueline Johnson||
|REGISTERED OFFICE|8 Heath Road||
||Twickenham||
||Middlesex||
||TW1 4BZ||
|REGISTERED NUMBER|10927793||
|CHARITY NUMBER|1174852||
|----------------------------------------------------------------------------------------------------------------|||
|CONTENTS|||
|Pages 1 - 3|Chairman's Report||
|4 - 11|Report of the Trustees||
|12|Independent Examiner's Report||
|13|Statement of Financial Activities (Incorporating||
||an Income and Expenditure Account)||
|14|Balance Sheet||
|15 - 24|Notes to the Financial|Statements|
|----------------------------------------------------------------------------------------------------------------|||
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Page 1
## **THE PEOPLE HIVE**
## **CHAIRMAN'S REPORT**
## **FINANCIAL YEAR APRIL 2022 TO MARCH 2023**
## **Overview**
The People Hive has had another stable and successful year notwithstanding that the nation’s economic situation has placed a greater pressure on resources, which in turn has placed the financing of the Charity under even greater strain than usual. Its success is a tribute to our commendable staff, volunteers and clients. The Charity exists to provide services, resources and facilities to meet the needs of adults with learning disabilities. Our CEO, Samantha Fyn, her staff and volunteers worked tirelessly and creatively to support our clients given the challenges.
We are immensely proud that our Charity has reached its 5th anniversary, especially considering the challenges posed by the COVID pandemic and the ongoing cost of living crisis. This milestone signifies not only our resilience but also our solid commitment to our mission.
Our High Street presence in Heath Road, Twickenham continues to provide many opportunities for our clients, both in The Gallery and behind the scenes. It continues to support the local community by providing a place for local artists to sell their wares and, most importantly, helps to raise public awareness about adults with learning disabilities. It is gratifying that support from customers to The Gallery has remained strong with our net takings comfortably exceeding the budget expectation in most months and particularly strong in November and December 2022.
Looking at the 2023/24 budget projections, including existing grant funding and new funding already confirmed and planned, we believe that we will remain financially robust through the new financial year.
## **Our Activity Based Projects**
Our CEO continues to drive the Charity’s direction. She is fully mindful of the opportunities the Charity has been able to create despite the challenges faced in the last financial year, as well continually searching for and researching new possibilities. During 2022/23 we were able to:
- Make a positive impact on the lives of our beneficiaries by promoting their independence and inclusion in the community, we have increased the number of members of the public visiting The People Hive and therefore interacting with our clients. We take pride in the positive impact our charity has on the lives of the individuals we work with. Feedback demonstrates how we have been able to enhance their quality of life, and we and their carers can see the tangible difference made to the lives of our beneficiaries.
- Secure funding that enabled us to employ two staff with learning disabilities, we are really proud that 40% of the staff at The People Hive have a learning disability. This demonstrates the safe and supportive environment that we provide to give clients the opportunity to undertake volunteering, work experience and employment opportunities.
- In 2023 we received funding for a volunteer coordinator which will enable us to recruit and train more volunteers and develop a “buddy “ scheme. We have completed a new comprehensive induction programme for our volunteers which will provide us with a more structured approach.
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## **THE PEOPLE HIVE**
## **CHAIRMAN'S REPORT**
## **FINANCIAL YEAR APRIL 2022 TO MARCH 2023 (continued)**
- We have a ring fenced hardship fund to enable clients that cannot afford activities to access our services. This fund is obviously limited and we would like to increase it as it has made a real difference to those who have accessed it.
## **Finances**
In comparison with 2021/22 our end year financial position has been disappointing with a deficit of £76,465 entailing drawing on our reserves. However, in what is becoming an increasingly competitive funding environment, this is not unexpected.
We would like to thank all those who have supported us with grants and donations and in particular, The Hampton fund for their continued funding support, as well as The Will Trust, the Garfield Weston Foundation, the Baily Thomas Charitable Fund and the Normansfield and Richmond Foundation for their funding grants during 2022/23.
There remains however a significant funding gap and we are constantly seeking additional grants to reduce the gap in future years with the ambition to extend our reserves and thereby improve our resilience.
Further details are contained within the Trustees’ Report and the Financial Statements.
## **Trustee Board**
Over the year, there has been one addition to the Trustee Board. Jacqueline Johnson joined in February 2023 and has had much to add, particularly in the areas of fundraising support and developing our social media presence.
We are always interested in applications from anyone who may like to join the Trustee Board, particularly if they feel they have the skills and experience to help take the Charity with its existing and planned projects. Anyone who would like more information should contact any one of the Trustees or the Chief Executive.
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## **THE PEOPLE HIVE**
## **CHAIRMAN'S REPORT**
## **FINANCIAL YEAR APRIL 2022 TO MARCH 2023 (continued)**
## **Our staff and volunteers**
We could not, of course, have achieved all this without the continued dedication and commitment of our small staff team, our volunteers and the artists who display in the Gallery and frequently also volunteer. With total volunteer hours now ahead of the hours worked by our salaried employees, the importance of volunteers to our Charity is tremendous. We are continually seeking individuals who support our aims and are able to offer some time commitment however small.
## **Our Future**
Helping people with a learning disability is our primary and paramount objective. We are as confident as we can be that we will be able to organise the resources in order to enable the Charity to do that. In this regard, it is worth adding the reminder that we do not have any resort to public funding. It is the lot of any small charity that it is unable to look too far into the future, particularly in relation to the certainty of funding and raising the required finance continues as one of our primary priorities. It is an uppermost focus of Trustees and Management alike and we will continue to do everything we can to secure a continuing bright future for The People Hive and its clients.
Peter Stockdale Chairman of Trustees
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Page 4
**THE PEOPLE HIVE**
## **A company limited by guarantee**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees present their report together with the financial statements of the Trust for the year ended 31 March 2022 and confirm they comply with the requirements of the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1[st] January 2015).
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The People Hive is a company limited by guarantee not having a share capital (No. 10927793) and a registered charity (No. 1174852).
## **Address and Registered Office**
8 Heath Road Twickenham Middlesex TW1 4BZ
## **Trustees**
Mark D. Albrow Hugh S. Evans Patrick Hehir Bernadette Jansen Amanda J. Lenheim Peter J Stockdale Jacqueline Johnson (appointed 6.2.2023)
The Trustees are all Directors under the Companies Act and Trustees under the Charities Act.
## **Officers**
Chief Executive Officer Samantha Fÿn Company secretary Diane Spranger (resigned 31.3.2023)
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **REFERENCE AND ADMINISTRATIVE INFORMATION (continued)**
**Professional Advisors**
Bankers Barclays Bank plc Hounslow Leicester Leicestershire LE87 2BB Santander UK plc Bridle Road Bootle Merseyside L30 4GB Independent Examiner FLB Audit LLP Chartered Accountants 1010 Eskedale Road Winnersh Triangle RG41 5TS Accountants - Management MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough Hampshire GU14 6DQ
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Trust is governed by its Memorandum and Articles of Association.
## **Membership Disclosure**
Currently there are thirty nine Members of the Trust of whom three are Trustees of the charity and Directors of the company.
The activities of the Trust are overseen by the Board of Trustees, made up of people who have particular interest in the care and welfare of people with learning disabilities.
New Trustees are appointed by the board and are subject to the endorsement of the membership at the AGM.
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## **THE PEOPLE HIVE**
# **A company limited by guarantee**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)**
## **Risk Management**
The Trustees have examined the major strategic, business and operational risks which the Trust faces and confirms that systems have been established to enable the necessary steps to be taken to lessen these risks. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
## **OBJECTIVES AND ACTIVITIES**
The objects of the Trust shall be the care and welfare of people with a learning disability centred around (but not exclusively to or within) the London Borough of Richmond upon Thames and in particular the creation and provision of activities in which individuals may participate to enable them to live and develop meaningful lives in their local and wider community and reflecting their individual wishes.
## **Aims and Objectives**
The care and welfare of people with a learning disability, including the provision of facilities for recreation, social integration and personal development.
## **Strategy and Policies**
The Trustees are responsible for setting a strategy for achieving the objectives it has set. The focus of its strategy is to deliver sustainable opportunities for people with a learning difficulty through:
- Social engagement
- Activities and workshops to promote independent living through paid and voluntary work and education
To become the organisation of choice for the delivery of advice to partner organisations to support people with a learning disability and as a partner for the delivery of services for the benefit of people with a learning disability
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **STRATEGIC PLAN 2022 - 2025**
The People Hive is our community hub, based in Twickenham. From here we provide a range of life skills, social engagement and developmental activities and opportunities, for adults with a learning disability, to support their personal development social integration and recreation.
We provide a range of activities for adults with a learning disability. These promote employment, independent living, good health and social and community inclusion.
The People Hive Gallery also provides a retail outlet for locally produced arts, crafts and gifts to provide commission income to support our charity and to develop community awareness and engagement.
## **Our aims**
- To operate an innovative, efficient and sustainable organisation which is responsive to the changing needs of our clients, our partners and to the external environment.
- To develop our reach, reputation, and activities.
## **Strategic Objectives**
To achieve this, we will focus on objectives within five main areas.
## **Life skills, social engagement and developmental activities**
- Expand the reach and range of these activities to increase the number of participants and ensure they continue to meet changing client needs.
- Establish links from The People Hive to 18-24 year- olds and identify client needs within this group.
- Develop the use of digital technology to expand our reach.
- To map out our activities using The Preparing for Adulthood programme delivered by the National Development Team for inclusion (NDTi)
- To develop a buddy scheme that can support our clients to achieve their personal goals, including seeking employment.
## **Work experience and employment**
- Continue our work to provide training in workplace skills, increasing the number of participants
- Define and establish a programme to enable and support progression into volunteer work and, and work with external partners to support employment opportunities.
- To create employment opportunities for clients with The People Hive both within existing and future hubs.
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **The People Hive Hub**
- Continue to run The People Hive hub and Gallery in Twickenham as a successful community facility.
- To identify and develop opportunities to establish new People Hive hubs using the model already developed for Heath Road, in the surrounding area where research indicates that there is client demand and a community need.
## **Fundraising, marketing and communications**
- Develop a fundraising strategy to obtain funding and sustainable income streams to secure the medium-term future of The People Hive.
## **Volunteers**
- Creatively recruit, develop and deploy our pool of volunteers; and increase the use of volunteers in delivering activities.
- Employ a volunteer coordinator to introduce a formal induction programme for all of our volunteers and to grow our number of participants.
## **FINANCIAL REVIEW**
The state of the Trust’s affairs at 31st March 2023 and the results of its operations for the year ended on that date are set out in the attached financial statements.
The Trust showed a deficit for the year of £76,465 (2022 (restated) - £61,346).
The Trust had net assets of £625,845 at 31 March 2023 (2022 (restated - £702,310).
All assets are used for the purpose of the Trust.
Grants:
We continued to receive funding from the Hampton Fund (£33,000) as part of their three year funding for salaries and core costs.
We were delighted to receive additional funding from the Garfield Weston Foundation (£20,000) the Will Trust (£10,000), the Bally Thomas Charitable Fund (£10,000) and the Normansfield and Richmond Foundation (£10,000) .
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **Investment Powers and Policy**
The Memorandum and Articles of Association of the Trust give the Trustees the power to make any investment it deems fit.
At 31 March 2023 the Trust held investments managed by a professional fund manager and continues to hold those investments. The investments are held in mixed asset classes in order to maintain a medium level of risk and with the aim of achieving a measurably higher return than might be expected from cash deposits which currently attract a low return. This to preserve the 'real' value of the Trust's reserves in an inflationary economic environment.
The level of invested reserves and their performance is regularly reviewed to ensure that the level of risk is appropriate to the aims of the Trust and to ensure that the Trust maintains the correct balance between invested funds and liquid cash deposits.
## **Reserves Policy**
The Trust's policy concerning the level of Reserves is to have funds available to:
- meet expenditure and liabilities as they fall due
- meet emergencies
- manage contingencies
At the end of the year the charity had unrestricted reserves of £604,009 (2022 restated - £687,310) and restricted reserves of £21,836 (2022 restated - £15,000).
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## **THE PEOPLE HIVE**
# **A company limited by guarantee**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **RESPONSIBILITIES OF THE TRUSTEES**
The Members of the Trust (who are also directors of The People Hive for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards ('United Kingdom
Company law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
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**THE PEOPLE HIVE**
## **A company limited by guarantee**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **PUBLIC BENEFIT REQUIREMENT**
The Trustees have complied with the duty in Section 17(s) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission concerning the public benefit requirement.
## **SMALL COMPANY PROVISIONS**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemptions.
## **APPROVAL**
Approved by the Trustees on 18/12/2023 and signed on its behalf by:-
**MARK ALBROW TRUSTEE AND DIRECTOR**
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## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE PEOPLE HIVE**
I report to the charity trustees on my examination of the accounts of the charitable company, The People Hive, for the year ended 31 March 2023, which are set out on pages 14 to 25.
## **Responsibilities and basis of report**
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s report**
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:
- (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
- (2) the accounts do not accord with those accounting records; or
- (3) 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
- (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Daniel Faust, FCCA FLB Audit LLP Chartered Accountants &Registered Auditors 1010 Eskdale Road Winnersh Triangle RG41 5TS
20/12/2023 | 12:14 GMT Date:
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|Unrestricted
Note
Funds
£
**INCOME**
**Donations and legacies**
2
23,617
**Income from** **Charitable activities**
3
38,995
**Other trading activities**
4
53,480
**Investment income**
5
794
**TOTAL INCOME**
116,886
**EXPENDITURE**
**Raising funds**
Sales (net of commissions) and cost of sales 6
(35,747)
**Charitable activities**
Social and wellbeing activities
7
(35,225)
Establishment costs
7
(51,812)
Administration costs
7
(70,083)
Governance costs
7
(3,000)
(160,120)
**TOTAL EXPENDITURE**
(195,867)
**NET INCOME/(EXPENDITURE) **
(78,981)
Gains/(losses) on investment assets
(4,320)
**NET MOVEMENT IN FUNDS**
(83,301)
Fund balances brought forward
687,310
**FUND BALANCES CARRIED FORWARD**
604,009
=======|Restricted
Funds
£
73,000
-
-
-
73,000
-
(41,164)
-
(25,000)
-
(66,164)
(66,164)
6,836
-
6,836
15,000
21,836
======
|Total
2023
£
96,617
38,995
53,480
794
189,886
(35,747)
(76,389)
(51,812)
(95,083)
(3,000)
(226,284) (
(262,031)
(72,145)
(4,320)
(76,465)
702,310
625,845
=======|As
restated
2022
£
115,130
16,554
50,430
789
182,903
(34,479)
(72,922)
(50,709)
(84,265)
(4,800)
212,696)
(247,175)
(64,272)
2,926
(61,346)
763,656
702,310
=======|
|---|---|---|---|
||
|||
||
|||
|||||
The notes on pages 15 to 24 form part of the financial statements.
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **Company Registration No: 10927793 BALANCE SHEET**
## **31 MARCH 2023**
|**FIXED ASSETS**
Tangible assets
Investments
**CURRENT ASSETS**
Stocks
Debtors
Cash at bank and in hand
**CREDITORS:**amounts falling due
within one year
**NET CURRENT ASSETS**
**NET ASSETS**
**ACCUMULATED FUNDS**
Unrestricted funds
General
Restricted fund
|Notes
10
11
12
13
14|2023
£
£
561,355
39,405
600,760
300
24,268
14,080
38,648
(13,563)
25,085
625,845
=======
604,009
21,836
625,845
=======|As restated
2022|As restated
2022|As restated
2022|
|---|---|---|---|---|---|
|||£
300
24,268
14,080
38,648
(13,563)|£
300
19,901
56,638
76,839
(11,781)||£
573,826
63,426
637,252
65,058
702,310
======
687,310
15,000
702,310
======|
|||||||
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Trustee's responsibilities:
- 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;
- The trustees acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The financial statements were approved by the Trustees on 18/12/2023 and signed on its behalf
by:-
Mark Albrow - Trustee
The notes on pages 15 to 24 form part of the financial statements.
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**THE PEOPLE HIVE**
## **A company limited by guarantee**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **General information**
The People Hive is a private charitable company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital.
In the event of the charity being wound up the liability in respect of the guarantee is limited to £1 per member of the company.
The registered company number is 10927793 and the registered charity number is 1174852.
The registered office is 8 Heath Road, Twickenham, Middlesex, TW1 4BZ
## **Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements are prepared in sterling, which is the functional currency of the entity.
The charity meets the definition of public benefit entity under FRS 102.
## **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.
## **Fund structure**
Unrestricted general funds are available to be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds are grants which the donor has specified are to be used solely for particular purposes.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **Income recognition**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Grants are recognised when the charity has entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Donations are accounted for at the date they are received. Any related tax recoverable on donations received is accounted for when due.
Gallery sales are derived from the sale of goods.
## **Expenditure recognition**
Liabilities are recognised as expenditure and are accounted for on an accruals basis and include attributable VAT which cannot be recovered.
## **Tangible fixed assets and depreciation**
Tangible fixed assets purchased are stated at cost less accumulated depreciation.
Depreciation is calculated on the following bases in order to write off each asset over its estimated useful life:-
- Freehold property - at 2% per annum on a straight line basis - Leasehold improvements - at 10% per annum on a straight line basis - Equipment - at 33% per annum on a straight line basis
## **Investments**
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
## **Stocks**
Stocks are measured at cost.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **Pension costs**
Contributions to defined contribution plans are recognised as an expense in the period in which the payment is made.
## **2. INCOME FROM DONATIONS AND LEGACIES**
|Unrestricted
Funds
£
Donations
6,742
Income tax recoverable
875
Grants receivable:
The Hampton Fund
-
National Lottery Community Fund
-
Garfield Weston
-
Normansfield and Richmond Foundation
-
Other small grants
16,000
Government and local authority
support grants – COVID related
-
23,617
======
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Unrestricted
Funds
£
Participants contributions
38,995
======|Restricted
Funds
£
-
-
33,000
-
20,000
10,000
10,000
-
73,000
=======
=
Restricted
Funds
£
-
======|As
Restated
Total
Total
2023
2022
£
£
6,742
5,468
875
1,113
33,000
30,000
-
51,619
20,000
-
10,000
-
26,000
20,000
-
6,930
96,617
115,130
======
=======
Total
Total
2023
2022
£
£
38,995
16,554
======
======|
|---|---|---|
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 18
## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **(continued)**
## **4. OTHER TRADING ACTIVITIES**
|Unrestricted Restricted
Funds
Funds
£
£
Gallery sales (including contributions towards
shredding and workshops)
53,480
-
======
=====
**5.**
**INVESTMENT INCOME**
Unrestricted Restricted
Funds
Funds
£
£
Portfolio income
794
-
=====
====
**6.**
**RAISING FUNDS**
Unrestricted Restricted
Funds
Funds
£
£
Stock in hand at 01.4.2022
300
-
Purchases for resale
29
-
Commissions on artwork sold
35,718
-
36,047
-
Less stock in hand at 31.3.2023
( 300)
-
35,747
-
======
=====
|Total
2023
£
53,480
======
Total
2023
£
794
=====
Total
2023
£
300
29
35,718
36,047
( 300)
35,747
======||Total
2022
£
50,430
======
Total
2022
£
789
====
Total
2022
£
300
52
34,427
34,779
( 300)
34,479
======|
|---|---|---|---|
|||||
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 19
## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **(continued)**
## **7. EXPENDITURE ON CHARITABLE ACTIVITIES**
|Unrestricted
Funds
Independence and wellbeing activities
£
Miscellaneous costs
18,680
Salaries, social security and pension costs
16,545
35,225
Establishment costs
Rent
24,167
Rates
1,208
Light and heat
1,584
Insurance
5,007
Repairs and renewals
628
Equipment
1,039
Equipment hire
483
Telephone
605
Computer expenses
1,266
Printing postage and stationery
2,654
Cleaning
344
HMRC
200
Training costs
156
Depreciation – leasehold improvements
471
Depreciation – freehold property
12,000
51,812
Administration costs
Salaries, social security and pension costs
64,316
Travel and subsistence
233
Staff welfare
1,037
Sundry expenses
495
Subscriptions
1,118
Advertising
-
Legal and professional fees
2,884
70,083
Governance costs
Accountant's fee -Independent Examination
3,000
3,000
160,120
======|Restricted
Total
Funds
2023
£
£
-
18,680
41,164
57,709
41,164
76,389
-
24,167
-
1,208
-
1,584
-
5,007
-
628
-
1,039
-
483
-
605
-
1,266
-
2,654
-
344
-
200
-
156
-
471
-
12,000
-
51,812
25,000 89,316
-
233
-
1,037
-
495
-
1,118
-
-
-
2,844
25,000
95,083
-
3,000
-
3,000
66,164
226,284
======
=======||
|---|---|---|
||||
||||
||||
||||
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 20
**THE PEOPLE HIVE**
**A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **(continued)**
## **8. TRUSTEES REMUNERATION**
No Trustee received nor waived any remuneration during the year. No out of pocket expenses were reimbursed.
## **9. EMPLOYEES**
The average number of persons employed during the year was 9 (2022 – 10)
## **Staff costs**
|Wages and salaries
Social security costs
Other pension costs|2023
£
132,799
6,380
7,846
147,025
=======|2022
£
127,532
6,972
7,833|
|---|---|---|
|||142,337
=======|
During the year, no employees received employee benefits (excluding employer pension costs) of more than £60,000 (2022 – none).
## **10. TANGIBLE FIXED ASSETS**
|Cost -
At 1.4.2022
and 31.3.2023
Depreciation -
At 1.4.2022
Charge for year
At 31.3.2023
Net book values -
At 31.3.2022
Net book values -
At 31.3.2023|Improvements
Freehold
to leasehold
property
property
£
£
600,000
4,710
29,000
1,884
12,000
471
41,000
2,355
571,000
2,826
=======
======
559,000
2,355
=======
======|Equipment
£
3,478
3,478
-
3,478
-
=======
=
-
=======
=|Equipment
£
3,478
3,478
-
3,478
-
=======
=
-
=======
=|TOTAL
£
608,188
34,362
12,471
46,833
573,826
======
561,355
======|
|---|---|---|---|---|
|||
=
=|
||
||||=
=||
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 21
## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **(continued)**
## **11. FIXED ASSET INVESTMENTS**
|**Movement in fixed asset investments**
Market value of listed investments at 1.4.2022
Listed investments additions
Listed investments disposals
Net (losses)/gains for the year
Market value of listed investments at 31.3.2023
Cash held within managed fund
Total value of management fund
**Investments at market value comprised:**
Fixed interest securities
UK investment and unit trusts
Overseas investment and unit trust
Cash held within the investment portfolio
**12.**
**DEBTORS**
Sundry debtors
Prepayments and accrued income
**13.**
**CREDITORS: amounts falling due within one year:**
Sundry creditors
Taxes and social security costs
Accruals and deferred income|2023
£
57,464
14,707
(29,249)
(4,320)
803
39,405
======
7,286
24,527
6,789
803
39,405
======
As
2023
£
-
24,268
24,268
=====
2023
£
3,696
2,891
6,976
13,563
======|
|
|---|---|---|
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 22
## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **(continued)**
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Unrestricted
Restricted
Funds
Funds
£
£
Tangible fixed assets
561,355
-
Investments
39,405
-
Current assets
16,812
21,836
Current liabilities
(13,563)
-
Net assets at 31.3.2023
604,009
21,836
=======
======
|Total
Funds
£
561,355
39,405
38,648
( 13,563)|Total
Funds|
|---|---|---|
||
625,845
=======||
## **15. MOVEMENT IN FUNDS**
|Balance
b/fwd
**Unrestricted Funds**
General Funds
687,310
Designated Funds
Will Trust
-
687,310
**Restricted Funds**
The Hampton Fund
15,000
Garfield Weston
-
Bailey Thomas
-
Normansfield &
Richmond Foundation -
15,000
======
**Total Funds**
702,310
======
|Income
£
116,886
-
116,886
33,000
20,000
10,000
10,000
73,000
======
189,886
======|Expenditure
£
(185,867)
(10,000)
(195,867)
( 31,500)
( 20,000)
( 10,000)
( 4,664)
(66,164)
=======
(262,031)
=======|Transfer
£
(10,000)
10,000
-
-
-
-
-
-
=======
-
=======|Other
gains/losses
£
(4,320)
-
(4,320)
-
-
-
-
-
======
(4,320)
======|Balance
c/fwd
604,009
-
604,009
16,500
-
-
5,336
21,836
======
625,845
======|
|---|---|---|---|---|---|
|||||
||
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 23
**THE PEOPLE HIVE**
# **A company limited by guarantee**
# **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **(continued)**
## **15. MOVEMENT IN FUNDS (continued)**
## **Restricted Funds**
The Hampton Fund is a contribution to salary costs and core running costs. Garfield Weston is a contribution towards revenue/core costs.
Bailey Thomas is a contribution towards core costs and to continue and to develop services. Normansfield and Richmond Foundation is a grant received towards the costs of the Look & Plan Club, Dance Act, the Hardship Fund and various staff costs
## **Designated Funds**
During the year the charity received £10,000 from Will Trust. The trustees have designated this grant for use on core costs of the charity.
## **16. OPERATING LEASE COMMITMENTS**
## **Lessee**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non -cancellable operating leases, which fall due as follows:
|2023
Within one year
25,000
Between two and five years
96,781
More than five years
-
121,781
=======|2022
25,000
100,000
21,781|
|---|---|
||146,781
=======|
Total lease payments recognised as an expense during the period were £24,167 (2022 - £24,167).
DocuSign Envelope ID: 04871F16-B148-4F89-88A1-219159BF278A
Page 24
## **THE PEOPLE HIVE**
## **A company limited by guarantee**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **(continued)**
## **17. PRIOR PERIOD ADJUSTMENT**
## **Changes to the Statement of Financial Activities**
|As previously
reported
£
**Adjustments**
Fund balances brought forward
748,656
Fund balances carried forward
687,310
=======
**Changes to the Statement of Financial Position**
As previously
reported
£
**Current assets**
Debtors
4,901
Net assets
50,058
=======
**Funds**
Restricted funds
-
=======|As restated
Adjustments
31 Mar 22
£
£
15,000
763,656
15,000
702,310
======
=======
As restated
Adjustments
31 Mar 22
£
£
15,000
19,901
15,000
65,058
======
=======
15,000
15,000
======
=======|As restated
Adjustments
31 Mar 22
£
£
15,000
763,656
15,000
702,310
======
=======
As restated
Adjustments
31 Mar 22
£
£
15,000
19,901
15,000
65,058
======
=======
15,000
15,000
======
=======|
|---|---|---|
|||£
19,901
65,058
=======
15,000
=======|
## **Notes to reconciliation**
The grant income for the Hampton Fuel Grants has been reallocated to be included within accrued income and released accordingly over a three year period as it is considered that the criteria for recognition of the grants was met within each respective financial year rather than on receipt of the grant. The grant is considered to be restricted and as such included within the restricted fund.
## **18. RELATED PARTY TRANSACTIONS**
There have been no transactions with related parties during the year (2022: none).