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Mission EmployAble
Charitable Incorporated Organisation Annual Report and Financial Statements For the period ended 31 August 2023
Charity No: 1181597
Company Registration No: CE016224 (England and Wales)
DocuSign Envelope ID: 7C51CBC1-AF34-44E5-A6E0-5082CB45F22A
Mission EmployAble
Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Annual Report | 2 - 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of Cash Flows | 10 |
| Notes to the Financial Statements | 11 - 15 |
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Mission EmployAble
Reference and Administrative Details
Trustees:
| Trustees: | Katharine Weston (Chair) |
| Mark Douglas | |
| Philip Garner | |
| Donald Reid (Secretary) | |
| Neil Twogood (Treasurer) | |
| Richard Walton | |
| Gordon Hails | |
| Erica Bendall | |
| Charity Number: | 1181597 |
| (Company Number: | CE016224 ) |
| Registered and Principal Office: | Moore Kingston Smith LLP |
| The Shipping Building | |
| The Old Vinyl Factory | |
| Blyth Road | |
| Hayes, London | |
| UB3 1HA | |
| Accountants | Moore Kingston Smith LLP |
| The Shipping Building | |
| The Old Vinyl Factory | |
| Blyth Road | |
| Hayes, London | |
| UB3 1HA | |
| Bankers | Lloyds Bank |
| Blackheath London | |
| Ariel House | |
| 2138 Coventry Road | |
| Sheldon | |
| B26 3JW |
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Mission EmployAble Chair’s Review For the period ended 31 August 2023
Introduction
During this reporting period, Mission EmployAble has made substantial strides towards fulfilling its mission of assisting young individuals with learning difficulties, aged 19 - 25 years, in acquiring skills that enhance their employability prospects. We are pleased to share the highlights of our achievements and progress.
Cafe Opening
One of the significant milestones of this period was the successful completion of the building project, culminating in the opening of our cafe located on Chorleywood Common within the Chorleywood Cricket Club pavilion in January 2023. The local community's support and the effectiveness of the cafe as our primary training venue have exceeded our expectations.
Mission Fulfillment
The cafe's operational success directly aligns with our core mission. By using it as a training location, we have been able to provide tailored skill development opportunities for our target demographic, enabling them to acquire skills and experience that help them to overcome barriers in finding long-term paid employment.
Internship Program
We are thrilled to announce the successful completion of our second internship year in August 2023. Over the two year period, we have trained a total of 16 interns. We are especially delighted to report that 15 interns (over 93%) have secured either paid part-time positions (14 interns), or further education (1 intern on an Electrician’s course), a testament to the effectiveness of our program and the dedication of our team. We are continuing to support one intern who is still seeking the right opportunity.
Financial Summary
The financial health of Mission Employable remains stable. We derive revenues from: the operations of the café; training grants received via our education partner Buckinghamshire Colleges Group; donations made by our many generous supporters; funds from events organised by our fundraising team and given amazing local support and finally from many individuals doing incredible personal challenges to help raise funds for the charity.
Our focus in the year ahead is to improve the way we operate and staff the café and to improve our relationships with partners so that more young people with learning difficulties are aware of our programme and how to apply for it.
We continue to manage our resources judiciously, ensuring that funds are allocated efficiently to support our initiatives.
Acknowledgments
The success of Mission EmployAble is a collective effort, and we extend our gratitude to all our staff and supporters, including the local community, volunteers, donors, and partners. Your contributions have played a crucial role in enabling us to reach these milestones. I would also like to extend my personal thanks to my fellow trustees for the considerable time and support they have given over the period to help bring the vision of Mission EmployAble alive. None of it would have been possible without all of these contributions.
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Chair’s Review (continued) For the period ended 31 August 2023
Mission EmployAble
Challenges and Future Prospects
While we celebrate our achievements, we acknowledge that there are ongoing challenges in this field. We remain committed to refining and expanding our programmes to serve an even larger number of young people and explore new avenues to help achieve our mission and are working hard to ensure we build a sustainable financial model that can support our mission long into the future.
Conclusion
The period from April 1st, 2022 to August 31st, 2023 has been marked by significant accomplishments for Mission EmployAble. The successful cafe launch, internship programme, and subsequent job placements are all indicative of the positive impact we are making in the lives of young individuals with learning difficulties. We are excited about the future and are confident that with the continued support of our stakeholders, we will achieve even greater milestones.
On behalf of the Board of Trustees,
Katharine Weston Chair, Mission EmployAble
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Mission EmployAble Trustees’ Report For the period ended 31 August 2023
The trustees are pleased to present their annual report which comprises the Trustees' Report and the financial statements of the charity for the period ended 31 August 2023. The Charitable Incorporated Organisation (CIO) was registered on 16 January 2019.
The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Trustees
The trustees shown below have held office during the year and to the date of this report:
Mark Douglas Philip Garner Donald Reid Katharine Weston Richard Walton Neil Twogood Richard Bloomfield (resigned 31 December 2023) Gordon Hails Erica Bendall
The trustees are responsible for recruiting and appointing new trustees. All decision making is undertaken by the trustees. On or before appointment, trustees will be provided with relevant information.
Our purpose and objectives
The Charitable Incorporated Organisation operates under the name Mission EmployAble.
The purpose of the Charitable Incorporated Organisation as set out in its governing document is the promotion of social inclusion, particularly but not exclusively, amongst young people with learning difficulties by:
-
Providing education and training including vocational and basic skills in order to prepare them for employment, work experience placements and encouraging independent living; and
-
Promoting personal development by the provision of vocational activities.
The trustees have referred to the guidance of the Charity Commission on public benefit including the guidance 'public benefit: running a charity (PB2)', in undertaking their activities and in the planning of their future initiatives.
Principal achievements and performance
One of the significant milestones of this period was the successful completion of the building project, culminating in the opening of our cafe located on Chorleywood Common within the Chorleywood Cricket Club pavilion in January 2023. The local community's support and the effectiveness of the cafe as our primary training venue have exceeded our expectations.
We are thrilled to announce the successful completion of our second internship year in August 2023. Over the two year period, we have trained a total of 16 interns. We are especially delighted to report that all 15 interns have secured either paid part-time positions, or further education (Electrician’s course) a testament to the effectiveness of our program and the dedication of our team. We are continuing to support one intern who is still seeking the right opportunity.
Plans for the future
While we celebrate our achievements, we acknowledge that there are ongoing challenges in this field. We remain committed to refining and expanding our programmes to serve an even larger number of young people and explore new avenues to help achieve our mission and are working hard to ensure we build a sustainable financial model that can support our mission long into the future.
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Mission EmployAble Trustees’ Report For the period ended 31 August 2023
__________
Financial review
The financial statements show income of £1,034,318 (2022: £614,194), revenue expenditure of £585,984 (2022: £76,534), and capital expenditure of £1,081,842 (2022: £292,471). These results reflect the continued support for Mission EmployAble by many generous donors, amazing and tireless organising by our events team, the costs involved to attract funds, the costs needed to run our first two academic years of training sixteen young interns in total and the completion of the build of the new Pavilion/Café. The accounts cover a 17-month period 1[st] April 2022 to 31[st] August 2023 as we decided to move our financial year end to synchronise with the end of the academic year. The comparative figures shown are for the 12-month period 1[st] April 2023 to 31[st] March 2022.
Reserves policy
Total reserves carried forward at 31 August 2023 of £1,837,581 (2022: £1,389,247) include £nil (2022: £35,000) restricted funds for future use, and £349,161 (2022: £931,233) unrestricted general funds, with £1,488,420 (2022: £423,014) unrestricted fixed asset funds.
Our focus is to build up reserves to allow us to realise our mission in a sustainable way. Our initial reserves were to cover the successful construction of the new pavilion (completed in November 2022). Our fundraising then focused on building reserves to fund the first 2-3 years of operation and our aim is to continue to grow reserves to cover Mission EmployAble’s share of future anticipated capital repair and refurbishment costs on the Pavilion/Café (shared with Chorleywood Cricket Club); to cover three to six months of operating costs and to have sufficient reserves to enable us to do more to realise our mission of providing employable skills to young adults with learning difficulties that will help them to find long-term paid employment.
Structure, Governance and Management
The charity is limited by guarantee and is governed by its memorandum and articles of association. Its board of trustees bring a deep and wide knowledge of both businesses, and specifically in the running of successful cafes, training young adults with learning disabilities and the charity sector.
Risk Management
The Trustees carry out an annual review of the major risks faced by the charity at least once annually. We believe that the risk assessment provides a satisfactory mitigation of the risks facing the charity. Risk management is central to the ability of any charitable organisation to deliver its objectives. It is also a statutory requirement for trustees to demonstrate how they are identifying and managing risks being faced by their charity. Key risks and how we mitigate these are shown below:
1. Loss of Key Staff
- As a small organisation we are heavily dependent on a few key individuals. We mitigate this risk: by working with a few professional advisers to help manage some of our processes (e.g. in finance, HR and IT); by bringing in new staff with ability to provide cover and by having an active new Trustee recruitment process that aims to attract new Trustees with relevant skills and experience.
2. Key Personnel may not perform to needed levels We mitigate this risk by keeping track of key metrics to ensure that we confirm to statutory and legal requirements and key staff performance is reviewed during the regular Trustee meeting with regular communication between staff and Trustees.
3. Our policies and procedures may not be followed or known
- Responsibility for this has been assigned to the management team to ensure all staff are aware of the policies. A new staff handbook is being drafted and will be issued during 2024 so that all the policies are readily available and accessible.
4. We may not attract enough interns to be financially viable
- We have developed a close partnership with Bucks Colleges Group who currently supply all of our interns. We are building relationships with other organisations who would like a supported internship option to offer their students.
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Mission EmployAble Trustees’ Report For the period ended 31 August 2023
5. We may not be successful in finding our interns long-term paid employment
- We have done a lot of work in this area to build relationships with local employers including hiring a member if staff who is wholly focused on finding opportunities and supporting interns in the workplace.
6. We may not be financially viable
After a full year of operating the safe we have built a much better picture of what is needed to run a sustainable charity. We need to have a minimum number of interns each year on our programme and continue to offer a great safe experience to maintain our café revenues and margins.
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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Charity law requires trustees to prepare financial statements for each financial year in accordance with United Kingdom Accounting Standards and applicable law.
Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the 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:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Incorporated Organisation will continue in business.
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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity’s Constitution. They are also responsible for safeguarding the assets of the Charitable Incorporated Organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board:
Katharine Weston Trustee (Chair)
7/5/2024 Date:
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Mission EmployAble
Independent Examiner's Report to the Board of Trustees For the period ended 31 August 2023
I report on the accounts of Mission Employable (the Charitable Incorporated Organisation, the 'CIO') for the
Responsibilities and basis of the report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the Trust’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 the charity’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 a member of the ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do 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.
10/5/2024
Adam Fullerton
For and on behalf of Moore Kingston Smith LLP Chartered Accountants
The Shipping Building The Old Vinyl Factory Blyth Road Hayes, London UB3 1HA
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Mission EmployAble
Statement of Financial Activities
For the period ended 31 August 2023
| Unrestricted Notes Funds £ Income and endowments from: Grants - Donations 486,886 Fundraising 49,792 Charitable activities: Café and training 436,675 Trading 2,208 Investments Income 3,757 Total 979,318 Expenditure on: Raising funds 32,135 Charitable activities 2 463,849 Total 495,984 Surplus for the year/period 483,334 Total funds brought forward 11 - 11 483,334 Total funds carried forward |
Restricted Funds £ - 55,000 - - - - 55,000 - 90,000 90,000 (35,000) 35,000 - |
17 months Total Funds £ - 541,886 49,792 436,675 2,208 3,757 1,034,318 32,135 553,849 585,984 448,334 1,389,247 1,837,581 |
12 months Total Funds £ 500 435,874 118,736 56,000 3,084 - |
|---|---|---|---|
| 614,194 | |||
| 33,378 43,156 |
|||
| 76,534 | |||
| 537,660 851,587 |
|||
| 1,389,247 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 11 to 16 form part of these financial statements.
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Mission EmployAble
Balance Sheet At 31 August 2023
| Notes | 2023 | 2022 | ||
|---|---|---|---|---|
| FIXED ASSETS | ||||
| Tangible assets | 6 | 1,488,420 | 423,014 | |
| CURRENT ASSETS | ||||
| Stock | 7 | 5,573 | - | |
| Debtors | 8 | 21,252 | 35,793 | |
| Investments | 202,630 | - | ||
| Cash at bank and in hand | 232,132 | 1,541,116 | ||
| 461,587 | 1,576,909 | |||
| LIABILITIES | ||||
| Creditors: Amounts falling due | ||||
| within one year | 9 | (112,426) | (604,323) | |
| NET CURRENT ASSETS | 349,161 | 972,586 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,837,582 | 1,395,600 | ||
| Creditors: Amounts falling due | ||||
| after more than one year | 10 | - | (6,353) | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,837,582 | 1,389,247 | ||
| FUNDS | ||||
| Unrestricted funds | 11 | 1,837,581 | 1,354,247 | |
| Restricted funds | 11 | - | 35,000 | |
| TOTAL FUNDS | 1,837,581 | 1,389,247 | ||
| 7/5/2024 | ||||
| These financial statements were approved by the members of the Trustee Board on ……………. and | signed on | |||
| their behalf by: | ||||
| ...................................................... | ...................................................... | |||
| Katharine Weston (Chair) | Neil Twogood (Treasurer) | |||
| Trustee | Trustee |
Company No. CE016224 (England and Wales)
The notes on pages 11 to 16 form part of these financial statements.
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Mission EmployAble
Statement of Cash Flows At 31 August 2023
| Notes Cash flows from operating activities: Net cash provided by/(used in) operating activities 12 (28,270) Cash flows from investing activities: Investment Income 3,757 Purchase of investments (202,630) Purchase of property, plant and equipment 6 (1,081,842) Net cash provided by/(used in) investing activities (1,280,714) (1,308,984) 1,541,116 232,132 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 2023 |
1,088,607 (292,471) (292,471) 796,136 744,980 1,541,116 2022 |
1,088,607 (292,471) (292,471) 796,136 744,980 1,541,116 2022 |
|---|---|---|
| 796,136 744,980 |
||
| 1,541,116 |
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Notes to the Financial Statements For the period ended 31 August 2023
Mission EmployAble
1 Accounting policies
1.1 Basis of Preparation
A summary of the principal accounting policies adopted, judgements and key sources of estimation uncertainty, is set out below.
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and a registered charity established as a Charitable Incorporated Organisation and therefore has also prepared its financial statements in accordance with 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) and Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the Charitable Incorporated Organisation. Monetary amounts in these financial statements are rounded to the nearest pound.
These financial statements are for the 17 month period from 1 April 2022 to 31 August 2023. The comparative period is the year ended 31 March 2022. The decision was made to change the period end to match the academic year and timing of funding of the charity's training programmes.
1.2 Going concern
The trustees have considered the key risks that they believe may impact the charity and have set out, in their report, the various measures taken to mitigate these risks. In the short-term we are facing rising staff and supply costs on the operations of the charity but believe our operating model is robust enough to absorb these. The charity has few committed long-term costs and has emerged from the building project with a significant level of cash on the balance sheet. As a result the trustees believe that the charity will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
1.3 Income
Voluntary income comprises donations received from individuals and institutions. All income is recognised when the Charitable Incorporated Organisation is entitled to the income, receipt is probable and the monetary value can be measured with reasonable accuracy.
Donations and grants are recognised in the Statement of Financial Activities when receivable. Where income is received in advance of meeting any performance-related conditions there is no unconditional entitlement to the income and its recognition is deferred.
1.4 Expenditure
Expenditure is accounted for on an accruals basis. Overhead and other costs not directly attributable to particular financial activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year.
Expenditure on raising funds comprise the costs incurred in obtaining donations from individuals and organisations to contribute financially to the Charitable Incorporated Organisation's work. This includes the cost of running special fundraising events.
The irrecoverable element of VAT is included with the term of expense to which it relates. Governance costs compromise the costs associated with meeting the constitutional and strategic aims of the Charitable Incorporated Organisation and the independent examination fees and costs linked to strategic management of the charity.
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Mission EmployAble
Notes to the Financial Statements For the period ended 31 August 2023
1 Accounting policies (continued)
1.5 Allocation and apportionment of costs
All costs are allocated between the expenditure categories of the SOFA on a basis designated to reflect the use of the resources. Cost relating to a particular activity are allocated directly and others are apportioned on an appropriate staff basis.
1.6 Tangible fixed assets
Assets costing £250 or more are capitalised as tangible fixed assets and are initially measured at cost, and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Assets under contruction represents costs incurred in relation to a building project. These costs are not depreciated until the accounting period in which the building is brought into use.
Depreciation is provided on all tangible fixed assets other than assets under construction, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:
Leasehold improvements 99 years Fixtures fittings and equipment 3 - 5 years
1.7 Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.8 Taxation
The Charitable Incorporated Organisation is exempt from corporation tax on its charitable activities.
1.9 Investments
Short term investments include short term deposits with a maturity date of between three and twelve months.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash at banks and in hand, and short term deposits with a maturity date of three months or less.
1.11 Financial instruments
The Charitable Incorporated Organisation 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 at their settlement value.
1.12 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds are held for specific purposes outlined by the donor.
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Mission EmployAble
Notes to the Financial Statements For the period ended 31 August 2023
1 Accounting policies (continued)
1.13 Critical accounting estimates and areas of judgement
In the view of the trustees, in their application of the Charitable Incorporated Organisation's accounting policies, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
2 Expenditure on charitable activities
| Direct costs: Café and training Support costs (See below) Support costs Bank and card charges Governance Legal and professional fees Office costs Wages and salaries Pension costs Other staff costs Total expenditure on charitable activities Net income is stated after charging: Independent Examiner's remuneration for: Accountancy and Independent Examination Staff Costs Wages and salaries Social security costs Employer's contribution to defined contribution pension schemes Other staff benefits |
2023 £ 123,995 429,853 553,849 2023 £ 1,143 4,948 359 74,310 324,981 478 23,634 429,853 2023 £ 4,948 2023 £ 305,153 13,464 6,364 - 324,981 |
2022 £ - 43,156 |
|---|---|---|
| 43,156 | ||
| 2022 £ 589 4,056 - 1,616 31,077 168 5,650 |
||
| 43,156 | ||
| 2022 £ 4,056 |
||
| 2022 £ 25,776 - 878 4,423 |
||
| 31,077 |
3 Staff Costs
There were no staff earning in excess of £60,000 in the current or comparative year.
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Mission EmployAble
Notes to the Financial Statements For the period ended 31 August 2023
4 Employees
| Average monthly number of employees during the period Average monthly number of full-time equivalent employees during the period |
2023 Number 15 8 |
2022 Number 2 1.6 |
|---|---|---|
5 Trustees and key management personnel
Key management personnel comprise the trustees, who received no remuneration nor expenses during the year.
| 6 Tangible fixed assets Cost At beginning of the year Additions Transfer At 31 August 2023 Depreciation At beginning of the year Depreciation charge in period At 31 August 2023 Net book value At 31 August 2023 At 31 March 2022 7 Stock Café food and drink Keep Cups for resale 8 Debtors Trade debtors Other debtors Prepayments |
Assets under construction £ 423,014 1,056,671 (1,479,685) - - - - - 423,014 |
Leasehold Improvements - - 1,479,685 1,479,685 - 12,382 12,382 1,467,303 - |
Fixtures Fittings & Equipment - 25,171 - 25,171 - 4,053 4,053 21,117 - 2023 £ 4,918 655 5,573 2023 £ 10,244 7,567 3,442 21,252 |
Total £ 423,014 1,081,842 - |
|---|---|---|---|---|
| 1,504,856 | ||||
| - 16,435 |
||||
| 16,435 | ||||
| 1,488,420 | ||||
| 423,014 | ||||
| 2022 £ - - |
||||
| - | ||||
| 2022 £ 17,186 18,607 - |
||||
| 35,793 |
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Mission EmployAble
Notes to the Financial Statements For the period ended 31 August 2023
| 9 Creditors due within one year Trade creditors Taxation and social security Loan Other creditors Accruals and deferred income 10 Creditors due after more than one Other creditors 11 Reserves Unrestricted funds Unrestricted general funds Fixed asset funds Total unrestricted funds Restricted funds Kitchen Equipment SEN Equipment Pilot Costs Total restricted funds Total funds |
year Brought Forward £ 931,233 423,014 1,354,247 10,000 - 25,000 35,000 1,389,247 |
Income £ 979,318 - 979,318 45,000 10,000 - 55,000 1,034,318 |
Expenditure £ (479,549) (16,435) (495,984) (55,000) (10,000) (25,000) (90,000) (585,984) |
2023 21,743 16,807 - 36,016 37,861 112,426 2023 £ - - Transfers £ (1,081,842) 1,081,842 - - - - - - |
2022 3,148 721 590,000 6,586 3,868 |
|---|---|---|---|---|---|
| 604,323 | |||||
| 2022 £ 6,353 |
|||||
| 6,353 | |||||
| Carried Forward £ 349,161 1,488,420 |
|||||
| 1,837,581 - - - |
|||||
| - | |||||
| 1,837,581 |
Kitchen Equipment
A donation received from Savoy Educational Trust is for spend on kitchen equipment for the café.
SEN Equipment
A donation received for the purchase of sensory equipment.
Pilot Costs
Donations received to fund the pilot costs starting with the hiring of staff for the café.
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Mission EmployAble
Notes to the Financial Statements For the period ended 31 August 2023
12 Reconciliation of net income to net cash flow from operating activities
| Reconciliation of net income to net cash flow from operating activities | ||
|---|---|---|
| Net income/(expenditure) for the year Investment Income Depreciation Increase in stock Decrease/(Increase) in debtors Increase in creditors Net cash provided by operating activities |
£ 448,334 (3,757) 16,435 (5,573) 14,541 (498,250) (28,270) |
£ 537,660 - - - (33,613) 584,560 |
| 1,088,607 |
13 Related party transactions
The charity received total donations from related parties without conditions amounting to £420 (2022: £295) in the period.
A close relative to the Chair is a trustee of The Garfield Weston Foundation. In the prior year £250,000 was received from the Foundation included within donation income, and a loan of £590,000 was included within Creditors as at the Balance Sheet date.
16