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2023-03-31-accounts

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Charity registration number: 1176949

Sabeel Foundation

(A Charitable Incorporated Corporation)

Annual Report and Financial Statements

for the Year Ended 31 March 2023

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 7
Statement of Financial Activities 8 to 9
Balance Sheet 10
Notes to the Financial Statements 11 to 20

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Reference and Administrative Details

Trustees Tahira Zafar Azeem Ahmed Hafiz Syed Tariq Mahmood Shah Principal Office 8-10 Glastonbury Road Birmingham B14 4DR Charity Registration Number 1176949 Independent Examiner Nasir Rafiq Dua Governance Bradford Court 123-131 Bradford Street Birmingham B12 0NS

Page 1

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2023.

Objectives and activities

Public benefit

  1. The prevention or relief of poverty anywhere in the world by providing grants, items and services to individuals in need and/or Charities or other organisations working to prevent or relieve poverty.

  2. For the public to benefit to promote the education of people anywhere in the world in such ways as the charity trustees think fit.

  3. The relief of financial need and suffering among victims of natural or other kinds of disasters in the form of money (or other means deemed suitable) for persons, bodies, organisations and/or countries affected. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Trustees' Report

Other achievements included:

PAKISTAN

Emergency food & hygiene aid to 2000 beneficiaries who need medical assistance but cannot go for it due to financial hardships.

Food and Social Programmes

RAMADAN 2022

As well as emergency food aid, we meet the needs of impoverished or struggling communities with the distribution of food packs during the blessed month of Ramadan. Each pack is designed to last a family for the entire month and contains essential items in line with a high standard in Ramadan 2022, we provided food packs for thousands of beneficiaries.

QURBANI 2022

Qurbani is one of the few times, if not the only time, of year that many beneficiaries can supplement their diet with meat. In 2022, we provided fresh Qurbani meat for approx. 700 beneficiaries.

Economic Empowerment

The key to overcoming poverty is economic opportunity and SABEEL Foundation is working around the world to provide people with that chance to move towards self-sufficiency. In PAKISTAN, 100 families (approx. 1000 people) were given opportunity for employment as part of Rikshaw’s distribution.

Page 3

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Sabeel Foundation

Trustees' Report

Establishment of Communities

Part of our work includes establishing new communities or strengthening existing ones with the common goals of tackling poverty and adversity and securing a future of stability and prosperity. There was also the launch of a major programme to construct mosques for the benefit of nearly 20,000 beneficiaries. Our future for new community features family homes for more than 500 people, a mosque, a community centre, and a library.

Education Programmes

One of the keys to helping people improve the quality of their lives is education, regarded as a fundamental human right but denied to many. Around the world, SABEEL Foundation is communities access education and learning.

Water & Sanitation

Our Water campaign allows donors to install hand pumps and solar water wells in Pakistan. In this year, we provided clean and safe drinking water to more than 30,000 beneficiaries (based on an average of 5 members per family) around the world.

Orphans & Childcare

SABEEL Foundation supports more than 30 orphans as part of its worldwide orphan sponsorship programme. The children's needs for food, shelter, education, health, and welfare are met thanks to the generosity of their sponsors that we care Pakistan.

Future plans

The welfare of these children is always at the core of everything we do through our Orphan Sponsorship, ensuring every child we help grows up happy, healthy, and well cared for. When you vow to care for an orphan with us, your support helps to provide a child with all they need to flourish and grow such as healthcare, a quality education, food, clothing, counselling services, and a warm, loving home.

Our projects focus on emergency relief, food, water, healthcare, education, orphan care and seasonal aid, such as winter emergency response and Qurbani donations.

Our guiding vision is of a world where everyone is cared for, and able to live a sustainable life, free from extreme poverty. As an Islamic charity, we are led by an unshakeable faith and a strong desire to help the most vulnerable, following in the footsteps of the Prophet (saw).

Financial review

During the year, the charity raised income of £720k (2022: £610k) and incurred expenditure of £718k (2022: £623k). The carry forward reserves of the charity stood at £282k (2022: £280k).

Structure, governance and management

Nature of governing document

The Charity is constituted as a Charitable Incorporated Organisation (CIO) Foundation, as a body corporate under Part 11 of the Charities Act 2011 on the 01 Feb 2018. The CIO registered with the Charity Commission on the same day.

Page 4

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Sabeel Foundation

Trustees' Report

Recruitment and appointment of trustees

The Trustees are recruited and appointed in accordance with the CIO constitution. The Trustees are appointed for life.

Organisational structure

Trustees are legally responsible for the governance and management of the charity. Trustees are responsible of setting strategies and policies for ensuring these are implemented.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

31 January 2024

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Hafiz Syed Tariq Mahmood Shah Trustee

Page 5

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

31 January 2024

Approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Hafiz Syed Tariq Mahmood Shah Trustee

Page 6

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Independent Examiner's Report to the trustees of Sabeel Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 8 to 20.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Sabeel Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Sabeel Foundation's accounts 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

Since Sabeel Foundation's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 Sabeel Foundation as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting 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.

...................................... Nasir Rafiq ICAEW

Dua Governance Bradford Court 123-131 Bradford Street Birmingham B12 0NS 31 January 2024

Date:.............................

Page 7

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Statement of Financial Activities for the Year Ended 31 March 2023

Note
Income and Endowments from:
Donations and legacies
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
241,264
5,017
246,281
(69,833)
(80,279)
(150,112)
96,169
(43,478)
52,691
180,118
232,809		 Restricted
funds
£
474,192
-
474,192
(180,332)
(387,777)
(568,109)
(93,917)
43,478
(50,439)
99,527
49,088		 Total
2023
£
715,456
5,017
720,473
(250,165)
(468,056)
(718,221)
2,252
-
2,252
279,645
281,897

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 18.

Page 8

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Statement of Financial Activities for the Year Ended 31 March 2023

Note
Income and Endowments from:
Donations and legacies
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
152,594
9,180
161,774
(32,672)
(189,108)
(221,780)
(60,006)
(60,006)
240,124
180,118		 Restricted
funds
£
448,301
-
448,301
(153,330)
(248,211)
(401,541)
46,760
46,760
52,767
99,527		 Total
2022
£
600,895
9,180
610,075
(186,002)
(437,319)
(623,321)
(13,246)
(13,246)
292,891
279,645

Page 9

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

(Registration number: 1176949) Balance Sheet as at 31 March 2023

Note
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
15
Creditors: Amounts falling due within one year
16
Net current liabilities
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
17
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
18		 2023
£
424,040
16,929
26,313
43,242
(176,711)
(133,469)
290,571
(8,674)
281,897
49,088
232,809
281,897		 2022
£
430,510
26,000
14,476
40,476
(182,667)
(142,191)
288,319
(8,674)
279,645
99,527
180,118
279,645
31 January 2024

The financial statements on pages 8 to 20 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

......................................... Hafiz Syed Tariq Mahmood Shah Trustee

Page 10

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Sabeel Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Page 11

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

Charitable activities

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

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

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

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Land & Buildings Reducing balance - 50 years Furniture & Equipment Reducing balance - 15 years Motor vehicles Straight line - 20%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 12

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
3
Other income
HMRC JRS Grant		 Unrestricted
funds
General
£
185,300
55,964
241,264		 Restricted
funds
£
474,192
-
474,192
Unrestricted
funds
General
£
5,017		 Total
2023
£
659,492
55,964
715,456
Total
2023
£
5,017		 Total
2022
£
541,899
58,996
600,895
Total
2022
£
9,180

Page 13

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

4 Expenditure on raising funds

a) Costs of generating donations and legacies

Costs of generating donations and legacies
5
Expenditure on charitable activities
Community
Food
Medical
Water
General		 Activity
undertaken
directly
£
67,198
21,645
20,999
51,690
80,279
241,811		 Direct costs
£
250,165
Grant funding
of activity
£
94,070
30,317
29,429
72,429
-
226,245		 Total
2023
£
250,165
Total
2023
£
161,268
51,962
50,428
124,119
80,279
468,056		 Total
2022
£
186,002
Total
2022
£
66,155
5,115
122,336
54,605
189,109
437,320

6 Analysis of governance and support costs

Governance costs

Independent examiner fees
Examination of the financial statements
Legal and professional fees		 Unrestricted
funds
General
£
5,350
5,120
10,470		 Total
2023
£
5,350
5,120
10,470		 Total
2022
£
3,636
13,203
16,839

Page 14

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

7 Grant-making

Analysis of grants

Below are details of material grants made to institutions

Below are details of material grants made to institutions
Name of institution
Bin Seif Group
Mercy Universal
One Ummah
Care and Relief Pakistan
Bilal Education
Al Mustafa Welfare
Al-Khair Foundation
FAKİR VE MUHTAÇLARA		 2023
£
-
-
1,355
189,000
2,000
1,390
24,500
8,000
226,245		 2022
£
4,582
600
3,000
240,029
-
-
-
-
248,211

Page 15

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

8 Net incoming/outgoing resources

Net incoming/(outgoing) resources for the year include:

Depreciation of fixed assets 2023
£
15,119		 2022
£
14,847

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs		 2023
£
95,187
4,985
100,172		 2022
£
68,740
1,779
70,519

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

2023 2022
No No
Number of Staff 11 10

No employee received emoluments of more than £60,000 during the year

11 Independent examiner's remuneration

Examination of the financial statements 2023
£
5,350		 2022
£
3,636

Page 16

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

13 Tangible fixed assets
Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
14 Debtors
Other debtors
15 Cash and cash equivalents
Cash at bank
Short-term deposits		 Land and
buildings
£
401,135
-
401,135
15,883
7,706
23,589
377,546
385,252		 Furniture and
equipment
£
34,254
8,650
42,904
3,237
2,644
5,881
37,023
31,017		 Motor
vehicles
£
23,847
-
23,847
9,606
4,770
14,376
9,471
14,241
2023
£
16,929
2023
£
13,621
12,692
26,313		 Total
£
459,236
8,650
467,886
28,726
15,120
43,846
424,040
430,510
2022
£
26,000
2023
£
16,929
2023
£
13,621
12,692
26,313
2022
£
13,899
577
14,476

Page 17

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

16 Creditors: amounts falling due within one year

Other loans
Hire purchase and finance leases
Other creditors
Accruals		 2023
£
158,316
4,404
10,627
3,364
176,711		 2022
£
161,316
4,404
10,627
6,320
182,667

17 Creditors: amounts falling due after one year

Hire purchase and finance leases 2023
£
8,674		 2022
£
8,674

18 Funds

Unrestricted funds
General
General
Restricted funds
Community
Food
Medical
Water
Total restricted funds
Total funds		 Balance at 1
April 2022
£
180,118
43,626
10,868
41,162
3,871
99,527
279,645		 Incoming
resources
£
246,281
168,309
84,530
75,946
145,407
474,192
720,473		 Resources
expended
£
(150,112)
(225,274)
(80,844)
(82,574)
(179,417)
(568,109)
(718,221)		 Transfers
£
(43,478)
13,339
-
-
30,139
43,478
-		 Balance at
31 March
2023
£
232,809
-
14,554
34,534
-
49,088
281,897

Page 18

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

Unrestricted funds
General
General
Restricted funds
Community
Food
Medical
Water
Total restricted funds
Total funds		 Balance at 1
April 2021
£
240,124
59
5,157
38,799
8,752
52,767
292,891		 Incoming
resources
£
161,774
166,759
16,452
189,519
75,571
448,301
610,075		 Resources
expended
£
(221,780)
(123,191)
(10,742)
(187,156)
(80,452)
(401,541)
(623,321)		 Balance at 31
March 2022
£
180,118
43,627
10,867
41,162
3,871
99,527
279,645

Page 19

DocuSign Envelope ID: 03B85294-A69E-49D1-A56F-94CB00D348AD

Sabeel Foundation

Notes to the Financial Statements for the Year Ended 31 March 2023

19 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
20 Analysis of net funds
Cash at bank and in hand
Finance leases and hire purchase contracts
Net debt
Cash at bank and in hand
Net debt		 Unrestricted
funds
General
£
418,194
-
(176,711)
(8,674)
232,809
Unrestricted
funds
General
£
366,447
-
(177,655)
(8,674)
180,118
At 1 April
2022
£
14,476
(13,078)
1,398
At 1 April
2021
£
28,371
28,371		 Restricted
funds
£
5,846
43,242
-
-
49,088
Restricted
funds
£
64,063
40,476
(5,012)
-
99,527
Financing
cash flows
£
11,837
13,078
24,915
Financing
cash flows
£
(13,895)
(13,895)		 Total funds
2023
£
424,040
43,242
(176,711)
(8,674)
281,897
Total funds
2022
£
430,510
40,476
(182,667)
(8,674)
279,645
At 31 March
2023
£
26,313
-
26,313
At 31 March
2022
£
14,476
14,476

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