| Page | ||
|---|---|---|
| Trustees' annual report |
||
| Independent | examiner's report to the trustees |
|
| Statement | offinancial activities | |
| Statement | offinancial position |
|
| Statement | ofcash flows | 10 |
| Notes to the financial statements |
| Registered | charity | name | Vehicles For | Change | ||
|---|---|---|---|---|---|---|
| Charity registration | number | 1177568 | ||||
| Principal office | Queensgate | House | ||||
| 48Queen Street | ||||||
| Exeter | ||||||
| EX43SR | ||||||
| The trustees | ZAC Kerr | (Resigned | 29 March 2022) | |||
| T Hooper | ||||||
| N Wilton | (Resigned | 22 March 2022) | ||||
| R Reynolds | (Resigned | 25August 2022) | ||||
| JA W Goudswaard | ||||||
| FEro | (Appointed | 5April 2022) | ||||
| STsangarides | (Appointed | 25 August 2022) | ||||
| Independent | examiner | Adam Croney | ACA | |||
| Westcotts (SW) LLP | ||||||
| Plym House | ||||||
| 3Longbridge | Road | |||||
| Marsh Mills |
||||||
| Plymouth | ||||||
| PL6 8LT |
| Period from 1 M | arch | 202 | 2 to | 31 Dec | ember 2022 | |||
|---|---|---|---|---|---|---|---|---|
| Year to | ||||||||
| Period from | 1 Mar 22to | 31 Dec 22 | 28 Feb 22 | |||||
| Unrestricted | Restricted | |||||||
| funds | funds | Total funds | Total funds | |||||
| Note | 6 | 6 | f | |||||
| Income and endowments | ||||||||
| Donations and legacies |
5,133 | 9,940 | 15,073 | 51,215 | ||||
| Charitable activities |
460,437 | 1,980 | 462,417 | 297,726 | ||||
| Investment income |
46 | 46 | 5 | |||||
| Other income | 18,000 | 18,000 | 1,440 | |||||
| Total income | 483,616 | 11,920 | 495,536 | 350,386 | ||||
| Expenditure | ||||||||
| Expenditure on raising funds: |
||||||||
| Costs of raising | donations | and | ||||||
| legacies | 8 | 121 | 121 | 18,050 | ||||
| Expenditure on chariitable |
activities | 9,10 | 474,511 | 8,294 | 482,805 | 358,237 | ||
| Other expenditure | 12 | 764 | ||||||
| Total expenditure | 474,632 | 8,294 | 482,926 | 377,051 | ||||
| Net income/(expenditure) | and | net | ||||||
| movement in funds |
8,984 | 3,626 | 12,610 | (26,665) | ||||
| Reconciliation offunds | ||||||||
| Total funds brought | forward | (250,568) | 151,833 | (98,735) | (72,070) | |||
| Total funds carried | forward | (241,584) | 155,459 | (86,125) | (98,735) |
| 31Dec 22 | 28 Feb 22 | ||||
|---|---|---|---|---|---|
| Note | 8 | 6 | |||
| Fixed assets | |||||
| Tangible fixed assets | 17 | 144,802 | 178,725 | ||
| Current assets | |||||
| Debtors | 18 | 95,336 | 156,276 | ||
| Cash at bank and | in hand | 112,523 | 136,730 | ||
| 207,859 | 293,006 | ||||
| Creditors: amounts | falling due within one year | 19 | 214,353 | 310,827 | |
| Net current liabilities |
(6,494) | (17,821) | |||
| Total assets less | current liabilities | 138,308 | 160,904 | ||
| Creditors: amounts | falling due after more than one year | 20 | 224,433 | 259,639 | |
| Net liabilities | (86,125) | (98,735) | |||
| Funds ofthe charity | |||||
| Restricted funds | 155,459 | 151,833 | |||
| Unrestricted funds |
(241,584) | (250,568) | |||
| Total charity funds | 22 | (86,125) | (98,735) |
| Period from 1 March 2 | 022 to 31D | ecember 2022 | ||
|---|---|---|---|---|
| 31Dec 22 f |
28 Feb 22 f |
|||
| Cash flows from operating | activities | |||
| Net income/(expenditure) | 12,610 | (26,665) | ||
| Adjustments for: |
||||
| Depreciation oftangible fixed assets |
37,829 | 20,412 | ||
| Other interest receivable and similar income | (46) | (5) | ||
| Interest payable and similar |
charges | 1,783 | 2,603 | |
| Loss on disposal oftangible | fixed assets | 764 | ||
| Accrued expenses | 485 | 600 | ||
| Changes in: |
||||
| Trade and other debtors | 59,626 | (137,914) | ||
| Trade and other creditors | (104,978) | 172,210 | ||
| Cash generated from operations |
7,309 | 32,005 | ||
| Interest paid | (1,783) | (2,603) | ||
| Interest received | 46 | 5 | ||
| Net cash from operating activities |
5,572 | 29,407 | ||
| Cash flows from investing | activities | |||
| Purchase oftangible assets | (3,906) | (1,264) | ||
| Proceeds from sale oftangible assets | 534 | |||
| Net cash used in investing activities |
(3,906) | (730) | ||
| Cash flows from financing | activities | |||
| Proceeds from borrowings | (25,873) | |||
| Net cash used in financing activities |
(25,873) | |||
| Net (decrease)/increase in |
cash and cash | equivalents | (24,207) | 28,677 |
| Cash and cash equivalents | at beginning | ofperiod | 136,730 | 108,053 |
| Cash and cash equivalents | at end ofperiod | 112,523 | 136,730 |
| 4. | Donations | and legacies | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||||
| Funds f |
Funds f |
31 Dec 2022 f |
|||||
| Donations | 5,133 | 2,500 | 7,633 | ||||
| Grants | 7,440 | 7,440 | |||||
| 5,133 | 9,940 | 15,073 | |||||
| Unrestricted | Restricted | Total Funds | |||||
| Funds f |
Funds F |
28 Feb 2022 | |||||
| Donations | 6,744 | 6,774 | |||||
| Grants | 6,500 | 6,500 | |||||
| Government | grants | 37,941 | 37,941 | ||||
| 51,215 | 51,215 | ||||||
| 5. | Charitable | activities | |||||
| Unrestricted | Restricted | Total Funds | |||||
| Funds f |
Funds f |
31Dec 2022 f |
|||||
| Mobiloo hire | 460,437 | 1,980 | 462,417 | ||||
| Unrestdicted | Total Funds | ||||||
| Funds | 28 Feb 2022 | ||||||
| f | f | ||||||
| Mobiloo hire | 297,726 | 297,726 | |||||
| 6. | Investment | income | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds f |
31Dec 2022 f |
Funds f' |
28 Feb 2022 f |
||||
| Other interest receivable | 46 | 46 | 5 | 5 | |||
| 7. | Other income | ||||||
| Unrestricted | Total Funds | Unrestdicted | Total Funds | ||||
| Funds f |
31Dec 2022 f |
Funds f |
28 Feb 2022 f |
||||
| Gain on disposal | 18,000 | 18,000 | |||||
| Insurance | income | 1,440 | 1,440 | ||||
| 18,000 | 18,000 | 1,440 | 1,440 |
| Per | iod from 1 Nlarch 2022 |
to 31 December 202 | to 31 December 202 | 2 | ||
|---|---|---|---|---|---|---|
| 8. | Costs ofraising donations | and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds f |
31Dec 2022 f |
Funds f |
28 Feb 2022 f |
|||
| Fundraising costs |
121 | 121 | 18,050 | 18,050 | ||
| 9. | Expenditure on charitable |
activities | by fund type | |||
| Unrestricted | Restricted | Total Funds | ||||
| Funds f |
Funds f |
31Dec 2022 | ||||
| Charitable activities |
466,459 | 8,294 | 474,753 | |||
| Support costs | 8,052 | 8,052 | ||||
| 474,511 | 8,294 | 482,805 | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds f |
Funds f |
28 Feb 2022 f |
||||
| Charitable activities |
272,646 | 76,341 | 348,987 | |||
| Support costs | 9,250 | 9,250 | ||||
| 281,896 | 76,341 | 358,237 | ||||
| 10. | Expenditure on charitable |
activities | by activity type | |||
| Total funds | Total funds | |||||
| 31Dec 2022 f |
28 Feb 2022 f |
|||||
| Wages and salaries | 254,042 | 197,298 | ||||
| Vehicle costs | 133,756 | 85,235 | ||||
| Bank charges | 137 | 99 | ||||
| Consulting | 7,132 | 1,398 | ||||
| Depreciation | 37,829 | 20,412 | ||||
| Printing, postage and stationery |
1,934 | 420 | ||||
| Interest | 1,783 | 2,603 | ||||
| Clothing and PPE |
2,306 | 961 | ||||
| ITsoftware and consumables | 13,657 | 2,444 | ||||
| Rent | (6,572) | 7,001 | ||||
| Staff training | 1,040 | 501 | ||||
| Advertising | 5,345 | 4,179 | ||||
| Travel —National | 1,725 | 3,085 | ||||
| Telephone and internet |
2,012 | 1,246 | ||||
| Vehicle storage | 5,560 | 1,918 | ||||
| Cleaning | 182 | 547 | ||||
| Insurance | 12,404 | 19,382 | ||||
| General expenses | 481 | 258 | ||||
| 474,753 | 348,897 |
| Total funds | Total funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31Dec 2022 f |
28 Feb 2022 f |
|||||||||
| Legal and professional | 3,767 | 4,150 | ||||||||
| Accountancy | 4,285 | 5,100 | ||||||||
| 8,052 | 9,250 | |||||||||
| 12. | Other expenditure | |||||||||
| Unrestricted | Total | Funds | Unrestricted | Total Funds | ||||||
| Funds f |
31Dec 2022 f |
Funds f |
28 Feb 2022 f |
|||||||
| Loss on disposal of | tangible | fixed | ||||||||
| assets held for charity's | own | use | 764 | 764 | ||||||
| 13. | Net income/(expenditure) | |||||||||
| Net income/(expenditure) | is stated after charging/(crediting): | |||||||||
| 31Dec 22 f |
28 Feb 22 f |
|||||||||
| Depreciation oftangible |
fixed assets | 37,829 | 20,412 | |||||||
| (Gains)/loss on disposal |
oftangible fixed assets | (18,000) | 764 | |||||||
| 14. | Independent examination |
fees | ||||||||
| 31Dec 22 f |
28 Feb 22 f |
|||||||||
| Fees payable to the |
independent | examiner for: | ||||||||
| Independent examination |
of | the financial statements | 1,890 | 1,800 | ||||||
| Other financial services | 1,890 | 1,800 | ||||||||
| 3,780 | 3,600 | |||||||||
| 15. | Staff costs | |||||||||
| 31Dec 22 f |
28 Feb 22 f |
|||||||||
| Wages and salaries | 235,636 | 186,549 | ||||||||
| Employers National |
Insurance | 15,046 | 8,583 | |||||||
| Pension contributions | 3,360 | 2,161 | ||||||||
| 254,042 | 197,298 |
| 17. | Tangible fixed a | sset | s | ||||
|---|---|---|---|---|---|---|---|
| Plant and | Fixtures and | Motor | |||||
| machinery 6 |
fittings 6 |
vehicles f |
Total 6 |
||||
| Cost | |||||||
| At 1 March 2022 | 474 | 1,954 | 337,000 | 339,428 | |||
| Additions | 1,573 | 2,333 | 3,906 | ||||
| At 31December | 2022 | 474 | 3,527 | 339,333 | 343,334 | ||
| Depreciation | |||||||
| At 1 March 2022 | 474 | 1,008 | 159,221 | 160,703 | |||
| Charge for the period | 354 | 37,475 | 37,829 | ||||
| At 31December | 2022 | 474 | 1,362 | 196,696 | 198,532 | ||
| Carrying amount |
|||||||
| At 31 December | 2022 | 2,165 | 142,637 | 144,802 | |||
| At 28 February 2022 | 946 | 177,779 | 178,725 | ||||
| 18. | Debtors | ||||||
| 31Dec 22 | 28 Feb 22 | ||||||
| f | |||||||
| Trade debtors | 82,468 | 141,676 | |||||
| Prepayments and |
accrued income | 7,308 | 7,726 | ||||
| Other debtors | 5,560 | 6,874 | |||||
| 95,336 | 156,276 | ||||||
| 19. | Creditors: amounts | falling due within one year | |||||
| 31Dec 22 | 28 Feb 22 | ||||||
| 6 | |||||||
| Bank loans and overdrafts | 122,000 | 112,667 | |||||
| Trade creditors | 196 | 25,914 | |||||
| Accruals and deferred | income | 90,804 | 171,744 | ||||
| Pensions payable | 1,353 | 502 | |||||
| 214,353 | 310,827 |
| Creditor | s: amou | nts falling due after more than |
one year | |
|---|---|---|---|---|
| 31Dec22 f |
28 Feb 22 f |
|||
| Bank loans and overdrafts | 224,433 | 259,639 | ||
| Deferred | income | |||
| 31Dec 22 | 28 Feb 22 f |
|||
| At 1 Mar | 22 | 168,144 | 14,378 | |
| Amount | released | to income | (161,948) | (9,949) |
| Amount | deferred | in period | 80,523 | 163,715 |
| At 31 Dec 22 | 86,719 | 168,144 |
| Analysis ofcharitable | funds | |||||
|---|---|---|---|---|---|---|
| Unrestricted funds |
||||||
| At 1 Mar 2022 f |
Income f |
Expenditure f |
Transfers | At 31Dec | 2022 f |
|
| General funds | (250,568) | 483,616 | (474,632) | (241,584) | ||
| At 1 Mar 2021 f |
Income f |
Expenditure f |
Transfers f |
At 28 Feb | 2022 | |
| General funds | (261,470) | 350,386 | (299,460) | (40,024) | (250,568) | |
| Restricted funds | ||||||
| At 1 Mar 22 f |
Income f |
Expendituref | Transfers | At 31Dec f. |
22 | |
| Postcode Innovation | ||||||
| Trust | 151,833 | 1,980 | 153,813 | |||
| StJames Place | 2,500 | (854) | 1,646 | |||
| National Hedtage Trust |
4,940 | (4,940) | ||||
| Dragon Sales | 2,500 | (2,500) | ||||
| 151,833 | 11,920 | (8,294) | 155,459 | |||
| At 1 Mar21 f |
Income | Expenditure | Transfers f |
At 28 Feb | 22 | |
| Barnwood Trust | 3,976 | (3,976) | ||||
| Postcode Innovation | ||||||
| Trust | 57,984 | 13,849 | 80,000 | 151,833 | ||
| The Clothworker | ||||||
| Foundation | 25,000 | (25,000) | ||||
| Childwick Trust | 11,000 | (11,000) | ||||
| Department for Work |
||||||
| and Pensions | 8,180 | (8,180) | ||||
| London Community | ||||||
| Response | 38,800 | (38,800) | ||||
| National Heritage |
||||||
| I ottery | 44,460 | (44,460) | ||||
| 189,400 | (105,936) | 40,024 | 151,833 |
| Analysis of net as | se | ts between funds | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds f |
31Dec 2022 f |
|||
| Tangible fixed assets | 87,934 | 56,868 | 144,802 | ||
| Current assets | 109,268 | 98,591 | 207,859 | ||
| Creditors less than | 1 | year | (214,353) | (214,353) | |
| Creditors greater than | 1 year | (224,433) | (224,433) | ||
| Net liabilities | (241,584) | 155,459 | (86,125) | ||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 28 Feb 22 f |
|||
| Tangible fixed assets | 106,892 | 71,833 | 178,725 | ||
| Current assets | 213,006 | 80,000 | 293,006 | ||
| Creditors less than | 1 | year | (310,827) | (310,827) | |
| Creditors greater than | 1 year | (259,639) | (259,639) | ||
| Net liabilities | (250,568) | 151,833 | (98,735) |
| Analy | sis ofchanges in net debt |
|||
|---|---|---|---|---|
| At | At | |||
| 1 Mar 2022 E |
Cash flows | 31Dec 2022 f |
||
| Cash | at bank and in hand | 136,730 | (24,207) | 112,523 |
| Debt | due within one year | (310,827) | 96,474 | (214,353) |
| Debt | due after one year | (259,639) | 35,206 | (224,433) |
| (433,736) | 107,473 | (326,263) |