2023-03-31-accounts - Faversham Umbrella

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Faversham Umbrella

Trustees' Annual Report

Year ended 31 March 2023

Staffing

Through the last year we have benefited from continuity within our highly professional Management team with Becky Duffy as our Centre Manager and Jessica Urwin as our Programme Manager. Both have continued to develop the Centre and its offering. Becky remains in overall control of Centre, responsible for operations and providing leadership and management to the Centre and staff. Jessica continues to ensure that we continue to offer a diverse programme of classes and events to our visitors and provide coaching, support provided and direction to our volunteer group.

At the earlier part of the year our Kitchen Supervisor left the organisation. We are pleased to report that the position has been filled on a job share basis by Toni Love and Lyn Hopwood. Both Toni and Lyn have volunteered within Umbrella for many years and we consider it a very positive endorsement of our volunteer group that we have been able to recruit for this pivotal position from within their numbers. The Café Supervisor is a critical role for us as the first point of contact for centre visitors.

Volunteers

Our volunteer group are and continue to be the lifeblood of our organisation, without whom we would be unable to function. We currently have 14 centre volunteers and 9 volunteer group activity leaders registered with us. All centre-based volunteers are DBS checked and have an induction in safeguarding and centre policies. Our Programme Manager is dedicated to the delivery of a training and development programme tailored to the identified needs of our volunteers.

We remain extremely grateful to our volunteers for their unwavering support over the past year and hope that we can continue to benefit from their generosity of time and spirit. We are always keen to hear from new individuals who would like to volunteer with us.

Funders and Supporters

Faversham Umbrella receives no statutory funding and is wholly reliant on the generosity of our funders and supporters. In 2022/23 we have successfully raised grant funding from the following organisations:

Bensted Charities
CO-OP
Faversham Town Council
Kent Community Foundation
The National Lottery Community Fund
Queensberry Fisheries

In addition to these “corporate funders,” we have a number of individual donors and fundraisers who give generously of the time and money to support our work. In addition, we continue to make a modest amount of income through renting space to organisations aligned to our ethos (the majority of who are themselves charities) and our Café, which is run on a not-for-profit basis.

Faversham Umbrella only exists as a going concern due to the generosity of those that provide us with grant funding and donations. We are extremely grateful for their support as we’ll as the ongoing support of grant funding bodies and individuals who have supported us previously and whose support is ongoing.

Faversham Umbrella

Trustees' Annual Report

Year ended 31 March 2023

Reserves policy

The purpose of the Reserves are firstly to operate as a working balance to help manage the impact of uneven cash flows and secondly, to provide a contingency to cushion the impact of emerging or unforeseen events or genuine emergencies. In general, a robust level of reserve should be maintained and take account of operational and financial issues facing Faversham Umbrella. A well-run charity with a prudent approach to setting its budget will each year consider its’ reserves. In assessing the level of Faversham Umbrella reserves, account has been taken of the risks facing the Charity, in terms of any known significant expenditure requirements and contingency for any unforeseen expenditure requirements.

A period of 9 months reserves has been agreed with a preference for 12 months as the Charity grows. £12k cash flow and £25k general reserve risks = £37k. Year ended March 2023 sees us with £415,260 (2022 £424,080) funds, £362,077 (2022 £367,141) of which is restricted leaving £53,183 (2022 £56,939) unrestricted.

Investment policy

This policy will be re-considered by the trustees as the funds grow. At this point in time we are not in a position to invest.

Plans for future periods

The coming year will be one of continued work to provide support to the vulnerable and marginalised, a section of our community that had unfortunately grown in number during the pandemic and is likely to continue to grow with the looming cost of living crisis. The Trustees have every confidence in the dedication and competence of our Management Team and volunteers and we thank them, our funders, and supporters for their continued engagement.

Additionally, the trustees expect to evolve and expand the activities provided within the Centre over the coming years. Alterations to the building to make it more fit for purpose have been initiated, specifically with the upgrade of our Kitchen Facilities, planned for summer 2023. This has been made possible through a generous grant from the FCC Communities Foundation. We are in the process of developing a 5 year strategic plan to facilitate our further expansion. This will be reported in H2 2023.

Financial Review

The accounts are prepared on an accrual basis. The statement of accounts and financial activities are to be found on pages 6/7.

Chair of Trustees 23[rd] June 2023

Faversham Umbrella

Independent Examiner’s Report to the Trustees of Faversham Umbrella

Year ended 31 March 2023

Independent Examiner's Report to the Trustees of Faversham Umbrella

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2023 which are set out on pages 6 to 15.

Responsibilities and basis of report

As the charity trustees, 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 charity’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

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable 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.

Signed

John Mulford Institute of Chartered Accountants of Scotland 81 Ashford Road Faversham ME13 8XW

Date 2023

Faversham Umbrella

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2023

2023 Unrestricted funds Restricted funds Total funds Note £ £ £ Income Grants and donations 4 11,690 36,395 48,085 Fund raising 2,091 – 2,091 Investment income 5 675 - 675 Other income 6 23,612 - 23,612 Total income 38,068 36,395 74,463 Expenditure Expenditure on raising funds: Fund raising 314 - 314 Expenditure on charitable activities 7 41,510 41,459 82,969 ------------- ------ ------ ------------- Total expenditure 41,824 41,459 83,283 Net (expenditure)/income and net movement in funds (3,756) (5,064) (8,820) Transfer between funds - - - Total funds brought forward 56,939 367,141 424,080 Total funds carried forward 53,183 362,077 415,260	2022 £ 26,559 1,681 16 12,169 40,425 192 44,140 ------------- 44,332 (3,907) - 427,987	2022 £ 26,559 1,681 16 12,169
		40,425
		192 44,140 ------------- 44,332
	424,080

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 15 form part of these financial statements.

FAVERSHAM

UMBRELLA

Registered charity No. 1180736

Annual Report & Accounts YEAR ENDED 31[st] March 2023

Faversham Umbrella

Trustees’ Annual Report

Year ended 31 March 2023

	Page
Trustees' annual report	11
Independent examiner's report to the members	55
Statement of financial activities (including income and expenditure account)	6
Statement of financial position	7
Notes to the financial statements	88

Trustees' Annual Report

Year ended 31 March 2023

Faversham Umbrella

The trustees present their report and the financial statements of the charity for the year ended 31 March 2023

Reference and administrative details

Registered charity name Faversham Umbrella Charity registration number 1180736 Principal office and registered Court Street, Faversham Office ME13 7AT

The Trustees

John Irwin - Chairperson Hilary Adams – Treasurer Mary Chippendale – Secretary James Matthews Lisa Nissen Louise Bareham

Independent Examiner

J Mulford 81 Ashford Road Faversham ME13 8XW

Structure, governance and management

Faversham Umbrella is an ‘Association' Charitable Incorporated Organisation (CIO), which allows registered Friends of the Charity to vote on certain policy matters.

The Board of Trustees consists of an effective mix of six professional and lay members with experience of relevance to the overall needs of the Charity. The day-to-day management of the Charity is delegated to the management team. External advice is sought from various agencies to ensure up to date methodologies are employed.

The Chair of Trustees reviews the board every year with the aim of identifying training needs and the board's general effectiveness.

Faversham Umbrella

Trustees' Annual Report

Year ended 31 March 2023

Risk Management

During the year the Trustees have reviewed all major risks which the Charity could suffer and confirm all necessary action has been taken to mitigate.

Objectives and activities

Faversham Umbrella is a community organisation that supports and enhances the mental health and emotional wellbeing of all vulnerable people in Faversham and the wider area. We aim to provide support for all in need in a safe and non-judgmental environment. We provide, education, recreation, companionship, and support.

Public benefit

The trustees have had due regard to the Commission’s guidance on public benefit, known as ‘the public benefit statement’ as shown by the activities of the charity throughout the year.

Activities

Over the past 12 months, we have continued to work collaboratively with a diverse range of partners and volunteers to offer a wide variety of activities. From April 2022 to March 2023 we had 1484 separate attendances at our activities (out of 2663 separate visits to the Centre including those using the Café). Below a snapshot of a typical week in summer.

https://favershamumbrella.org/weekly-activities/

All activities and events offered at, and hosted by, Faversham Umbrella are free for participants. These sessions are delivered by volunteers. We thank them for their enthusiasm, skills and time.

We continue to seek and leverage opportunities to work with other local organisations committed to community support and development. Faversham Umbrella is a founding member of the Faversham Charity Networking Group, and our Centre Manager has assumed a leadership role within this group. We believe that the Faversham’s third sector organisations are stronger together and we look forward to continued co-operation for the benefit of those we serve.

Faversham Umbrella

Year ended 31 March 2023

Trustees' Annual Report

Staffing

Volunteers

Funders and Supporters

Bensted Charities
CO-OP
Faversham Town Council
Kent Community Foundation
The National Lottery Community Fund
Queensberry Fisheries

Trustees' Annual Report

Year ended 31 March 2023

Faversham Umbrella

Reserves policy

Investment policy

This policy will be re-considered by the trustees as the funds grow. At this point in time we are not in a position to invest.

Plans for future periods

Financial Review

The accounts are prepared on an accrual basis. The statement of accounts and financial activities are to be found on pages 6/7.

Chair of Trustees 23[rd] June 2023

Faversham Umbrella

Independent Examiner’s Report to the Trustees of Faversham Umbrella

Year ended 31 March 2023

Independent Examiner's Report to the Trustees of Faversham Umbrella

I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2023 which are set out on pages 6 to 15.

Responsibilities and basis of report

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

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable 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.

Signed

John Mulford Institute of Chartered Accountants of Scotland 81 Ashford Road Faversham ME13 8XW

Date 2023

Faversham Umbrella

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2023

				2023		2022	2022
		Unrestricted Restricted
		funds		funds	Total funds
	Note	£		£		£	£
Income
Grants and donations	4	11,690		36,395		48,085	26,559
Fund raising		2,091		–		2,091	1,681
Investment income	5	675		-		675	16
Other income	6	23	,612	-		23 ,612	12	,169
Total income		38	,068	36,395		74 ,463	40	,425
Expenditure
Expenditure on raising funds:
Fund raising		314		-		314	192
Expenditure on charitable activities	7	41,510		41,459		82,969	44,140
		-------------		------ ------		-------------	-------------
Total expenditure		41	,824	41 ,459		83 ,283	44	,332
Net (expenditure)/income and net
movement in funds		(3,756)		(5,064)		(8,820)	(3,907)
Transfer between funds		-		-		-	-
Total funds brought forward		56	,939	367 ,141		424 ,080	427	,987
Total funds carried forward		53	,183	362 ,077		415 ,260	424	,080

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 15 form part of these financial statements.

Faversham Umbrella

Statement of Financial Position

31 March 2023

		2023		2022
		£		£
Fixed assets
Tangible fixed assets	11	350,000		350,000
Current assets
Debtors	12	730		858
Cash at bank and in hand		66,734		74,052
		-------------------------
		-		---------------
		67,464		74,910
Creditors: amounts falling due within one year		2,204		830
		-------------------------
		-		--------------
Net current assets		65,260		74,080
		-------------------------
		-		---------------
Total assets less current liabilities		415,260		424,080
		=============
		====	==========
Funds of the charity
Restricted funds		362,077		367,141
Unrestricted funds		53,183		56,939
		-------------------------
		-		---------------
Total charity funds	13	415,260		424,080
		=============
		====	==========

The financial statements were approved and authorised for issue by the Board of Trustees on and signed on its behalf by

………………………….. J Irwin – Chair of Trustees

23 June 2023

The notes on pages 8 to 15 form part of these financial statements.

Faversham Umbrella

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a charitable incorporated organisation registered in England and Wales. The address of the registered office is 17 Tanners Street, Faversham, ME13 7JP.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. The charity constitutes a public benefit entity.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the exemption of including a cash flow statement.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Faversham Umbrella

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Notes to the Financial Statements (continued)

Faversham Umbrella

Year ended 31 March 2023

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	0% straight line
Equipment	-	100% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Debtors and prepayments

Trade and other debtors are recognised at the settlement amount due after any trade discounts. Prepayments are valued at the amount prepaid net of any discounts.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably.

Faversham Umbrella

Notes to the Financial Statements (continued)

Year ended 31 March 2023

4. Grants and donations

	Unrestricted	Restricted	Restricted	Total	Funds	2022
	Funds		funds		2023
	£		£		£	£
Kent Community Foundation	-		7,000		7,000	2,000
Faversham Town Council	-		4,000		4,000	5,000
Swale Council	-		-		-	11,000
Groundwork UK			-		-	1,125
Fisheries Trust	-		6,000		6,000	-
Bensted Charities	-		1,033		1,033	-
Faversham Community Networking						-
Group	2,140		7,362		9,502
Lottery Community Fund			11,000		11,000	5,500
Coop	2,256		-		2,256
Donations	7,294		-		7,294	1,934
	-------------------------	-------------------------		-------------------------		-------------
	-		-		-
	11,690		36,395		48,085	26,559
	=============	=============		=============		=========
	====		====		====
Investment income
	Unrestricted	Total	Funds
	Funds		2023		2022
	£		£		£
Bank interest	675		675		16
	=============	=============			=====
	====		====

5. Investment income

6. Other income

	Unrestricted Total Funds	Unrestricted Total Funds
	Funds	2023	2022
	£	£	£
Room hire	11,906	11,906	7,417
Cafe	7,412	7,412	4,003
Miscellaneous	4,294	4,294	749
	--------	--------	---------
	23,612	23,612	12,169
	=======	=======	========

Notes to the Financial Statements (continued)

Faversham Umbrella

Year ended 31 March 2023

7. Total Resources Expended

Basis of Allocation	Charitable Governanc e 2023 2022 Activities Total
Direct costs Staff costs Direct Insurance Direct Utilities Building maintenance Direct Networking grants Direct Client support Direct Cafe Direct Support costs allocated Comms, stationery & travel Usage Other costs Trans HR services Usage Depreciation Usage Total resources expended	50,871 - 50,871 28,87 4 1,975 - 1,975 1,823 5,592 - 5,592 1,800 2,740 - 2,740 5,746 7,362 - 7,362 - 1,272 - 1,272 1,235 2,926 - 2,926 1,633 672 - 672 1,079 5,582 - 5,582 1,122 3,977 - 3,977 - - - - 828
	82,969 - 82,969 44,14 0

8. Net (expenditure)/income

Net (expenditure)/income is stated after charging/(crediting):

	2023		2022
	£		£
Depreciation of tangible fixed assets		-	828
	=========		=======

Notes to the Financial Statements (continued)

Faversham Umbrella

Year ended 31 March 2023

9. Staff costs

The total staff costs and employee benefits for the reporting year are analysed as follows:

	2023	2022
Wages and salaries	47,059	28,124
Social security costs	2,122	750
Pension costs	1.690	-
	-------------	------------
	50,871	28,874
	========	========

The average head count of employees during the year was 3. The average number of full-time equivalent employees during the year is analysed as follows:

	2023	2022
	No.	No.
Centre staff	21	111
	--------------	--------
	2	1
	=========	=====

No employee received employee benefits of more than £60,000 (2022 nil) during the Year.

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £nil .

10. Trustee remuneration and expenses

No trustees received any remuneration during the year (2022 nil). No expenses were reimbursed to trustees during the year (2022 nil).

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year or previous period.

Faversham Umbrella

Notes to the Financial Statements (continued)

Year ended 31 March 2023

11. Tangible fixed assets

		Freehold		Plant and
		property	machinery			Total
		£		£		£
	Cost
	Brought forward	350,000		2,711		352,711
	Additions	-		-		-
	At 31 March 2023	350,000		2,711		352,711
		=============	=============		=============
		====		====		====
	Depreciation
	Brought forward	-		2,711		2,711
	Charge for year	-		-		-
		-------------------------	-------------------------		-------------------------
		-		-		-
	At 31 March 2023	-		2,711		2,711
		=============	=============		=============
		====		====		====
	Net written down value
	At 31 March 2023	350,000		-		350,000
		=============	=============		=============
		====		====		====
	Net written down value
	At 31 March 2022	350,000		-		350,000
		=============	=============		=============
		====		====		====
12.	Debtors
				2023		2022
				£		£
	Other debtors			730		858
				---------		--------
				730		858
				======		=====
13	Analysis of charitable funds
	Unrestricted funds
	General funds			2023		2022
	At 1.4.22			56,939		54,549
	Income			38,068		16,925
	Expenditure			(41,824)		(14,535)
	Transfer between funds			-		-
				-------------		------------
				53,183		56,939
				========		========

Faversham Umbrella

Notes to the Financial Statements (continued)

Year ended 31 March 2023

13. Analysis of charitable funds (continued)

Restricted funds

	At 1.4.22	Income Expendi	Income Expendi			At
			ture		31.3.23
	£		£			£
Building	350,000	-	–			350,000
Kent Community	-	7,000
Foundation			(5,592)			1,408
Faversham town council	4,280	4,000	(4,280)			4,000
Queenborough		6,000
Fisheries Trust	4,002		(4,002)			6,000
Edward Vincent	2,860	-	(2,191)			669
Bensted Charities	499	1,033	(1,532)			-
Lottery Fund	5,500	11,000	(16,500)			-
Faversham Networking	-	7,362
Group			(7,362)			-
	-----------	----------	--------		--------------
	367,141	36,395	41,459			362,077
	==========	==========	====== ==	=============
urpose of restricted funds is as follows:
ing which shows the valuation of the property we own.
Community Foundation to assist with loss of income re covid
rsham Town council to fund Youth project
ries Trust for Food in Crisis Project
rd Vincent to assist with website costs and support
ted Charities to assist with training
ry Fund to cover ongoing expenses
rsham Networking Group is the funding we receive as		lead and pass	onto other	groups
Analysis of net assets between funds
		Unrestricted	Restricted		Total Funds
		Funds	Funds			2023
		£	£			£
Tangible fixed assets		-	350,000			350,000
Current assets		55,387 12,077				67,464
Creditors less than 1 year		(2,204)		–		(2,204)
		-------------------------	-------------------------		-------------------------
		-		-		-
Net assets		53,183 362,077				415,260
		=============	=============		=============
		====	====			====

The purpose of restricted funds is as follows:

Building which shows the valuation of the property we own. Kent Community Foundation to assist with loss of income re covid Faversham Town council to fund Youth project

Fisheries Trust for Food in Crisis Project Edward Vincent to assist with website costs and support Bensted Charities to assist with training Lottery Fund to cover ongoing expenses

Faversham Networking Group is the funding we receive as lead and pass onto other groups

14. Analysis of net assets between funds

15. Related Party Transactions

No related party transactions took place during the year or previous period

Faversham Umbrella Independent ExamiMrf3 Report to the Trustees of Faversham Umbrella Year ended 31 March 2023 Indopendent Examiners Report to th• of Fav•rnh•n Umbr•lla l pOrt to the trustees on my examination of the aLXX)urrts of the aly)ve charity for the year ended 31 March 2023 which are set out on pages 6 to 15. R•sponslbllltle8 and bo81s of voport As the charity trustees, you are resnSIble for the weparation of Ihe accounts in accordance wilh the requirements of the Chanties Act 2011 ('the Arf). I rewt in resFd of my examinath)n of the charty's £yJnts Carried t under section 145 of the 2011 Act and in carying out my ewninalion, I have followed all the ap1¢able DirectK)ns given by the Chaiity Commission under section 145(5)(b) of the Act Independont •xamlnof• 8tat•m I have completed my examination. I confinn that materol matters have o)me to my attention in connection wrth the examinalw)n thich gives me cause to believe that in any material respect the accounting records We not kept in accordan with seclion 130 of the Charities Act.. or the accounts did not accord with the a(oUnting records., or the accounts did not comply wth the applieable requirements (xxwing the fomi and content of accounts set oui in the Charilies (Accounts and Reports) Regulat)n$ 2008 other than any requirement that the accounts give a'true arKt Fairf view which ts not a matter conSered as part ol an independent examinatK)n. I have no ConM$ and have come across no other rnatters in connection with the examination lo which attents'on should be dravm in this report in order to enable a proper understanding of the accounts to be reached. Slgned John Mulford Institute of Chartered A¢¢ountants of Scotland 81 Ashford Road Faversham ME138XW 21723