Charity number: 1180577 SINGLETON SPACES UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SINGLETON SPACES CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent examiner's report statement of financial activities Balance sheet Notes to the financial statements 9-20
SINGLETON SPACES REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees l Mcclinlock lappoinled 1 June 20241 C Perring P Rogers D Sowerby (appointed 1 June 20241 A Szocs (appointed 1 June 20241 J Tippen P Walkden (appointed 1 June 20241 M Wiffen Charlty reglstered number 1180577 Prlnclpal offlce Singleton Environment Centre Wesley School Road Ashford TN23 5LW Accountants Magee Gammon Chartered Accountants Henwood House Henwood Ashford Kent TN24 8DH Page 1
SINGLETON SPACES TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 March 2024. Objectives and activities a. Polieies and objectives The Charity exists lo preserve, protect, and improve the natural environment for the public benefit, by promoting and supporbng the creation and maintenance of green spaces through both example and education. In selling objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. Strategies for achieving objectives Funds are raised primarily via revenue from the in-house café, supplemented by income derived from both the hire of on-site conferencing facilities, and renting office space to the education franchise, Kumon. Additional funds are provided by the building s lease holder, Great Chart with Singleton Parish Council IGCSPCI. Some further income is derived from fund-raising events such as quiz nights. Staff, both employed and volunteer, also play a key role in enabling the charity lo meet its objectives. The role of our Education OffIr continues to enhance our public engagement and extend our reach. c. Activities undertaken to achieve objeetives Our range of activities during 2023 2024 has been extensive, covering all age groups 8nd has proved immensely popular with the public. The change to the use of the Eventbrite software lo manage the administration side of many of our activities has been successful. Achievements and performance a. Main achievements of the Charity To illustrate the range and depth of 8elivilies l include below the text from the article about the Centre whieh featured in the Autumn edition of the parish magazine. Summer 2023 Re ort from Parish Ma azine What a busy summer it has been at Singleton Environment Cenlre. It has been a pleasure to welcome so many f8milies lo the centre over the school holiday period. Great Chart with Singleton Parish Council have kindly supported the education work at the Environment Centre which has allowed us to put on 8 huge range of activities lo keep the children busy and entertained. In total, over 580 participants have taken part in one of our Summer 2023 events. We have held three Nature Sehool Family Fun Events- 'Magnificent Moths,, 'R8d Reptiles, and 'lt's A Pond Life,. On these events families have had the chance to learn some fascinating facts, complete identification sheets, explore the centre grounds on scavenger hunts, create a themed craft item and made a themed Ireal to eat. Most importantly they have had some fun family lime together sharing in their learning and enjoyment of nature. Our first Nature Stories session was an interactive telling of 'We're Going on 8 Bear Hunt,. Our younger visitors completed activities linked to the story as they walked through the centre grounds. The children made grass heads, went pond dipping, created clay bears, made bear stick puppets, danced in snow bubbles, and found mini bears lo take home. They hunted high and low, and we are pleased to report that the centre grounds are now free of all bearsl Page 2
SINGLETON SPACES TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance Icontinuedl Wednesdays were extra fun with our drop and leave Wild Wednesday sessions. Every Wednesday a group of children from age 6 years + spent the day al the ntre taking part in a range of outdoor activities. There was pond dipping, den building, scavenger hunts, team games, minibeast hunts and nature craft. The firepit cooking was extremely popular and the children cooked toast, popcorn, pitta pizzas, hot chocolate, 'S'mores' and roasted marshmallows.11 was a pleasure lo spend lime with such delighttul children and to see new friendships form. We had some special guests this summer. Phil from Jaws n Claws spent full busy days with us along with a range of his fascinating reptiles. We were also pleased lo be able lo run I0 SEND friendly animal handling sessions. Mark and his team brought the magnificent Owls from Leeds Castle along for a visit. As well as meeting the owls the children made a wooden owl decoration to take home. There was lols of recycling fun on our Junk Creators and Break Then Create sessions. Children aged 8 years + gol lo break apart a range of household items, including laptops and game consoles, lo explore their inner workings and then using the parts lo create art ples. There was also lols of imagination used by the Junk Creators lo turn our huge pile of recycled items into some wonderful models. Our Make It Days showed just how creative our participants are. They made some wonderful unique l-shirts, hals, bags, pencil cases and make up bags. Lots of children enjoyed making a wooden medal using the 'Hapa Zome, technique lo hammer colour from plants on our free event. We were most impressed by the talents of the participants on our Nature Pics session. The children, aged 8 years + learnt about angles, composition, and lighting lo take beautiful nature photographs on their camera phones. 11 wasn't just the children having funl Our first session in our adult programme 'Prosecco with saw a group of adults learning how to use cyanolypes Isun prinlingl to design and make a beautiful cushion cover. The results were fantastic. The first Words with Brunch session, run by Sila where a group of adults used the centre grounds as inspiration for their creative writing. Thank you all for supporting Singleton Environment Centre and making this summer so much fun. We hope lo see you all enjoying the centre grounds very soon. Helen, Education Officer, September 2023 "Chairs note.. Bear in mind these events look pla during the school 'summer holidays, and represent a fraction of the activities the Centre provides to engage with the public, lo educate an inspire them about the crucial Importan of the environment. b. Factors relevant to achieve objectives Once again, l am happy to express my sinre thanks lo the Trustees, volunteers all, who give their time selflessly for the benefit of the community. We also have a small team of volunteers that support the ntre in a myriad of ways. And not forgetting our paid members of staff, an amazing team that run the cafè and administer the site. We work closely with the 'Green Gym,, Ashford Community Woodland and the Ashford Repair Cafè. We also enjoy support from both the parish IGCSPCI and Ashford Borough Council IABCI, who own the building. We have been fortunate to have been able lo upgrade the Centre's lighting, changing the internal lights lo LEDS, and renewing the lighting along the 'long' path that leads lo the entran of the building. Volunteers have also commenced the creation of a 'resilience garden,, working lo find plants most suited to deal with our changing climate. Financial review a. Going concem After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable fvture. For this reason, they continue lo adopt the going Gonrn basis in preparing the financial statements. Page 3
SINGLETON SPACES TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 b. Reserrfes policy The Charity aims to relain reserves equivalent to three months operating costs. A start has been made in establishing this reserve, and il continues to grow. structure, governance and management a. Constitution Singleton Spaces is a registered charity, number 1180577, and is constituted under a Trust deed dated 2 November 2018. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. c. Related party relationships 11 should be noted that Iruslees are members of GCSPC. A third Iruslee is employed by GCSPC. The Trustees believe these relationships are of benefit to the charity and that no trustee reiVeS any personal benefit as a result of the relationship. d. Financial risk management The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the operations and finances of the Charity, and are satisfied that systems and procedures are in place lo mitigate exposure to the major risks. Plans for future periods The formation of trustee sub-committees, with each focussing on a particular area of the Charity has been of benefit in streamlining our aclivilies. A more professional approach to fund-raising has been adopted, with an increasing number of grants being applied for. A strategy lo enter into partnership with local businesses, inviting sponsorship for increased input from the Cenlre, perhaps in the form of providing Carbon Literacy training, is also underway. Page 4
SINGLETON SPACES TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally ACpIed Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to pSume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them lo ensure that the financial statements comply wth the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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. Approved by order of the members of the board of Trustees and signed on their behalf by.. Malcolm Wiffen Ichair of Trustees) Dale.. 29 Jan 2025 Page 5
SINGLETON SPACES INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examinerfs report to the Trustees of Singleton Spaces I'the Charity.) I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 ACYI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under seelion 14515llbl of the 2011 Act. Independent examiner's statement Since the Charity's gross income exeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accounlanls in England and Wales IICAEWI, which is one of the listed bodies. Your allenlion is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. aecounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act", or the accounts do not accord with those records., or the aecounts do not comply with the applicable requirements concetning 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 fairf 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 whieh attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Charity's Trustees those matters l am required lo stale to them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not a¢p1 or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 29 Jan 2025 rr Roland Parry FCA Magee Gammon Corporate Limited Henwood House Henwood Ashford Kent TN24 8DH Page 6
SINGLETON SPACES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Restrieted Unrestrieted fund$ fund$ 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charit8ble activities 2,500 73,182 341,653 75,682 341,653 31,076 304,031 Total income 2.500 414.835 417.335 335, 107 Expenditure on: Charitable activities 410,251 410,251 353, 700 Total expenditure 410,251 410,251 353, 700 Net incomellexpenditurel Transfers between funds 2,500 12.5001 4,584 2,500 7,084 (18,593) 15 Net movement in funds 7,084 7,084 (18,593) Reconciliation of funds: Totsl funds brought forward Nel movement in fvnds 40,284 7,084 40,284 7,084 58,877 (78,593) Total funds carried forward 47,368 47,368 40,284 The Statement of financi818ctivities includes all gains and losses recognised in the year. The notes on pages g 10 20 form part of these financial statements. Page 7
SINGLETON SPACES BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assgts Tangible assets Current assets 10 37,791 33,012 stocks 11 3.002 6,737 20,803 2,797 10,095 25,438 Debtors Cash al bank and in hand 12 30.542 38,330 Creditors.. amounts falling due within one year 13 {20,965} {31,058J Net current assets I liabilities 9,577 7,272 Total not assets 47.368 40,284 Charity funds Reslricled funds Unrestricted funds 15 47.368 40,284 Totsl funds 47,368 40,284 The financial statements were approved and authorised for issue by the Trustees and signed on their beh81f by.. Malcolm Wiffen ICh8ir of Trustees) Dale". 29 Jan 2025 The notes on pages g 10 20 form part of these financial statements. Page 8
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiation Singleton Spaces is a eharity registered in England and W81es under number 1180577. The principal office is Singleton Environment Cenlre, Wesley School Road, Ashford, Kent, TN23 5LW. Aecounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordan with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fai¢ view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Singleton Spas meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income reiVed for specific purposes bul not expended during the period is shown in the relevant funds on the Balan sheet. Where income is reiVed in advan of entitlement of receipt, ils recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributsble lo a single activity are allocated directly to that aclivily. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 9
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Itontinuedl 2.4 Government grants Govemment grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants a credited to the Statement of financial activities as the related expenditure is incurred. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £150 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straighl-line method. Depreciation is provided on the following basis.. Plant and machinery Fixtu$ and fillings Computer equipment 150/0 150/0 250/0 2.6 Stocks Stocks are valued al the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overhe8ds. 2.7 Debtors Tmde and other debtors are reeognised al the setement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the settlement Can be estimated reliably. Li8bilities are reeognised at the amount th8t the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finan cost. Page 10
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Itontinuedl 2.10 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Pensions The Charity operates a defined eontribulion pension seheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.12 Fund accounting General funds are unreslrieled funds which are available for use at the discffttion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financi81 statements. Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Donations 28,689 44,493 28,689 46.993 Grants 2,500 2,500 73,182 75,682 Restricted unStriCted funds funds 2023 2023 Total funds 2023 Donations 11,051 7,025 71,051 20,025 Grants 13,000 13,000 18,076 31,076 Page11
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from Charitable activities Unrestricted funds 2024 Total funds 2024 Cafe Conference Hire and Catering Rental Income 265,951 55,902 19,800 265,951 55,902 19,800 341,653 341,653 UnTrstricted funds 2023 Total funds 2023 Cafe Conference Hire and Catering Rental Income 235, 788 52,659 15,584 235, 788 52,659 75,584 304,031 304,031 Page 12
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Environment Centre 410,251 410,251 Restricted Unrestricted funds funds 2023 2023 Tot81 2023 Environment centre 4. 820 348.880 353. 700 Analysls of expendlture by actlvltles Actlvltles undertaken directly 2024 Support costs 2024 Total funds 2024 Environment Centre 407,456 2,795 410,251 Activities undertakgn directly 2023 Support costs 2023 Total funds 2023 Environment Centre 351,060 2,640 353, 700 Page 13
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysis of expenditure by activities leontinuedl Anatysis of direct costs Total funds 2024 Total funds 2023 Staff costs Depreciation Cafe supplies 252.505 205,226 5,458 86,108 20,280 4,469 90,624 13,890 13.890 Building and grounds maintenance Centre operating supplies Cleaning and janitorial Health and safely and security Waste management Communications and IT Subscriptions Matketing Educational and environmental activities Uniforms and staff welfare Banking, insurance and administration li 3.964 1,455 2,789 2.754 4.853 773 95 4,285 4,375 3,460 2,133 5,392 909 95 4.065 2.662 5,292 2, 809 1,525 4,536 407.456 351,060 Analysis of support costs Total funds 2024 Total funds 2023 Accountancy 2,795 2,640 Independent examiner's remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £2,045 12023 £2, 0001. Page 14
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs 2024 2023 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 232,948 14,855 4.702 186,975 13,940 4,311 252.505 205,226 The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 No. Staff 11 10 No employee reiVed remuneration amounting lo more than £60,000 in either year. Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2023- £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NILJ. Page 15
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Tangible fixed assets Plant and Fixtures and machinery fittings Computer equipment Total Cost or valuation At 1 April 2023 Additions 19.272 9,050 28.526 3,574 1.614 49.412 12,624 At 31 March 2024 28,322 32,100 1,614 62,036 Depreciation At 1 April 2023 Charge for the year 10,259 3,052 5.004 4.571 1.137 222 16.400 7,845 At 31 March 2024 13,311 9,575 1.359 24,245 Net l)ook value At 31 March 2024 15,011 22.525 255 37,791 At 31 March 2023 9,013 23,522 477 33,012 11. Stocks 2024 2023 Finished goods and goods for resale 3.002 2,797 12. Debtors 2024 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 5,672 1,065 6,676 3,419 ,737 10,095 Page 16
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and soci81 security Other creditors Accruals and deferred income 6,587 10,352 259 3.767 19,517 6,262 510 4, 769 20,965 31,058 14. Financial instruments 2024 2023 Financial assets Financial assets measured at fair value through income and expenditure 20,803 25,438 Financial assets measured al fair value through income and expenditure comprise cash and bank balances. Page 17
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds General Funds 40,284 414,835 {410,2511 2,500 47,368 Restricted funds Kent County Council McArthurGlen UK Ltd 1,000 1,500 11,000} 11,500) 2.500 12.500} Totsl offunds 40,284 417,335 {410,2511 47,368 ststement of funds - prior year Balan at 31 March 2023 Balan at 7 Apnl 2022 Transfers in/oul Income Expenditure Unrestricted funds General Funds 56,057 322,107 (348,880) 11,000 40,284 Rostricted funds Ashford Borough Council Kent County Council Kingsnorth Parish Council 1,247 1,573 fO,000 2,000 1,000 (1,247) (3,573) (f O,OOOJ (1,OOOJ 2,820 13,000 (4,820) (f 1,000) Total of funds 58,877 335,107 {353, 700) 40,284 Page 18
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Funds Kent County Couneil - grant towards the LED lighting upgrade in the charitys main building and container. McArthurGlen UK Ltd - grant towards the Spring Watch System. 17. Transfers Transfers from restricted funds to unreslricled funds represent the use of restricted funds to purehase C8Pltal assets to be used as part of the normal operating activities of the ch8rity- 18. Summary offunds Summary offunds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure General funds Reslricled funds 40,284 414.835 2,500 {410.2511 2.500 12,500) 47,368 40,284 417.335 {410.2511 47,368 Summary offunds - prior year Balance at 31 March 2023 Balan at l April 2022 Transfers in/oul Incomg Expenditure General funds Reslricled funds 56,057 2,820 322,107 13,000 (348,880) (4,820) 11,000 (11,OOOJ 40,284 58,877 335,107 (353, 700) 40,284 19. Analysis of net assets between funds Analysis of net assets bgtween funds - current Pgriod Unrgstricted funds 2024 Total funds 2024 Tangible fixed assets Current assets 37,791 30,542 120,9651 37,791 30,542 120,9651 Creditors due within one year Total 47,368 47,368 Page 19
SINGLETON SPACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Analysis of net assets between funds leontinuedl Anatysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 33,012 38,330 (31,058) 33,012 38,330 (31,058) Total 40,284 40,284 20. Pension commitments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the charity lo the fvjnd and amounted to £4,702 12023 - £4,311). A total of £Nil12023 - £Nill was payable lo the fund al the balance sheet dale and are included in creditors. 21. Operating lease commitments The Charity leases the property at a peppercorn rate over a period of 25 years lo 2043. 22. Related party transactions The Charity is related lo Great Chart with Singleton Parish Council by virtue of some trustees also being parish councillors. The property is leased from the Parish Council. The Iruslees act independently to the Parish Council. In other respects, the Charity has no transactions with related parties12023 - £Nill. Page 20