REGISTERED COMPANY NUMBER: 08121374 (England and Wales) REGISTERED CHARITY NUMBER: 1184616
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
FOR
NEW MEANING FOUNDATION
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
NEW MEANING FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 17 |
| Detailed Statement of Financial Activities | 18 |
NEW MEANING FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's objects are building modular homes for ex-homeless residents and training ex-homeless and others from a background of hardship, in construction and functional skills.
Significant activities
During the year the charity constructed 2 SPACE homes for Emmaus Suffolk, and installed these in Ipswich. These were funded with additional grants for training from Hopestead, part of the Flagship Group/ Cambridgeshire Community Foundation and Hopestead funded a project for ex homeless complete supervised paid work experience. This year the work focussed on developing positive prospects to cement their engagement as trainee technicians. Five staff now on the payroll of NMF as a result.
Peripatetic work experience and study programmes were completed by 20 additional needs learners (functional skills and employability programme over 10 months.)
The construction team has also completed 2 high quality, high specification "Mojo Space" Garden Rooms - 60 year minimum lifespan; 12 year warranty; one in Girton (6m x 4m) now being used as a psychotherapist studio - including an innovative dry toilet; one in Cockayne Hatley being used as a "mancave" for study, modelling and work projects.
Construction projects are assessed against budgeted costs and productivity targets. Learners work experience days are included in these projects. Providing Patient (paid) employment to trainees enables their progress as tradespersons to be assessed live on projects, ultimately resulting in progression to (external) contractor or self-employed work.
Additional needs training is measured against funders specific project criteria and for state funded EHCP learners against individual learning plans - monitored and evaluated by Local Authority officers.
HACT social ROI measurements are also reported as an annual measure of Impact.
Public benefit
The trustees have complied with the duty in S4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission on public benefit..
FINANCIAL REVIEW
Financial position
The financial statements for the year ended 30 September 2023 show a small surplus which is encouraging, and the trustees consider the overall result to be satisfactory.
Reserves policy
The trustees seek to hold 6 months of unrestricted reserves. In practice, limited grant funding has made it very difficult to build up reserves, and the charity relies on up front project funding to manage its cashflow. Despite the low reserves figure,cash remains at a healthy level. Reserves as at 30 September 2023 stood at £58,925.
Page 1
NEW MEANING FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
FUTURE PLANS
The charity now operates a peripatetic learners scheme covering Cambridgeshire to North Hertfordshire and Bedfordshire. They are focusing on the NMF programme "Pro Active Work Skills, Functional Skills and Foundations for Future." Level Entry 3, Level 1 diploma and Level 2 certificate multi trade construction qualifications are running.
The plan remains to build and operate a community enterprise cafe- a new site is being searched for and collaboration discussed with a potential new partner in North Cambridge. This will provide further on the job training, and patient employment in the kitchen, front of house, and customer service/food delivery. The charity is seeking a new factory location with the assistance of Cambridge City Council, Great er Cambridge Social Impact Fund, Joint authority. It is aiming to double capacity of SPACE microhomes up to a potential of 54 per annum.
Opportunities to provide homes for ex-homeless residents are declining as the government support schemes that emerged during Covid are wound down. Other channels such as recreational buildings, holiday lodges, refurbishments, sales of quality joinery products are mitigating. Availability of professional staff willing to work in a small, stretched team that offers unique support to disadvantaged young people is a possible negative factor. Investment in staff and ongoing pipeline products for modular homes will enable ongoing reinvestment in staff and trainees.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The company registered as a charity with the charity commission on 26 July 2020.
Recruitment and appointment of new trustees
Trustees are recruited via advertising, contacts, and through the networks of existing trustees.
Risk management
Risks for construction projects include rising materials costs, weather effects or inaccurate quotes. Also staff leaving can be considered to provide a risk to the organisation.
Changes in legislative requirements for Additional Needs provision require ongoing training and safeguarding improvement measures across the organisation. With EHCP learners many have specific requirements such as provision of 1 or 2 chaperones; behaviour management strategies, etc. There can be a risk to peers if these approaches are not understood, coached and updated as necessary.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08121374 (England and Wales)
Registered Charity number
1184616
Registered office
Unit 1, Cambridge House Camboro Business Oakington Road, Girton Cambridge Cambridgeshire CB3 0QH
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NEW MEANING FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2023
Trustees
A G W Beckett Director J C Evans Director Mrs C G Evans Director (resigned 17/6/2024) D Lett Director (resigned 13/7/2023) P Zipp Director Ms R I P Orde Director S Pickering Director (appointed 1/1/2023) A Aus (appointed 17/6/2024) Ms L Canham (appointed 17/6/2024) Ms T Dawson Director
Independent Examiner
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of New Meaning Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... A G W Beckett - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW MEANING FOUNDATION
Independent examiner's report to the trustees of New Meaning Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Matthew Pettifer FCA
The Institute of Chartered Accountants in England and Wales
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
Date: .............................................
Page 4
NEW MEANING FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 24,688 Charitable activities 4 General 561,872 Total 586,560 EXPENDITURE ON Charitable activities 5 General 543,432 NET INCOME/(EXPENDITURE) 43,128 RECONCILIATION OF FUNDS Total funds brought forward 15,797 TOTAL FUNDS CARRIED FORWARD 58,925 |
Restricted fund £ - - - 9,491 (9,491) 9,491 - |
2023 Total funds £ 24,688 561,872 586,560 552,923 33,637 25,288 58,925 |
2022 Total funds £ 20,253 394,796 415,049 472,014 (56,965) 82,253 25,288 |
|---|---|---|---|
The notes form part of these financial statements
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NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)
BALANCE SHEET
30 SEPTEMBER 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 13 - CURRENT ASSETS Debtors 14 51,253 Cash at bank 154,471 205,724 CREDITORS Amounts falling due within one year 15 (139,187) NET CURRENT ASSETS 66,537 TOTAL ASSETS LESS CURRENT LIABILITIES 66,537 CREDITORS Amounts falling due after more than one year 16 (7,612) NET ASSETS/(LIABILITIES) 58,925 FUNDS 18 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
2023 Total funds £ - 51,253 154,471 205,724 (139,187) 66,537 66,537 (7,612) 58,925 58,925 - 58,925 |
2022 Total funds £ 9,491 55,457 99,434 154,891 (128,182) 26,709 36,200 (10,912) 25,288 15,797 9,491 25,288 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)
BALANCE SHEET - continued
30 SEPTEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A G W Beckett - Trustee
The notes form part of these financial statements
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NEW MEANING FOUNDATION
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities 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 £ 58,658 (321) 58,337 (3,300) (3,300) 55,037 99,434 154,471 |
2022 £ 28,028 (400) 27,628 (2,688) (2,688) 24,940 74,494 99,434 |
|---|---|---|
The notes form part of these financial statements
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NEW MEANING FOUNDATION
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| OPERATING ACTIVITIES | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Net income/(expenditure) for the reporting period (as per the | |||
| Statement of Financial Activities) | 33,637 | (56,965) | |
| Adjustments for: | |||
| Depreciation charges | 9,491 | 9,782 | |
| Interest paid | 321 | 400 | |
| Decrease in debtors | 4,204 | 34,829 | |
| Increase in creditors | 11,005 | 39,982 | |
| Net cash provided by operations | 58,658 | 28,028 | |
| ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1/10/22 | Cash flow | At 30/9/23 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 99,434 | 55,037 | 154,471 |
| 99,434 | 55,037 | 154,471 | |
| Debt | |||
| Debts falling due within 1 year | (3,400) | - | (3,400) |
| Debts falling due after 1 year | (10,912) | 3,300 | (7,612) |
| (14,312) | 3,300 | (11,012) | |
| Total | 85,122 | 58,337 | 143,459 |
The notes form part of these financial statements
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NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. LEGAL FORM
The charity is a registered charity registered in England and Wales, and a company limited by guarantee having no share capital incorporated in England and Wales.
Its registered office is Unit 1, Cambridge House, Camboro Business Park, Girton, Cambs, CB3 0QH.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost Computer equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 3. DONATIONS AND LEGACIES Donations 4. INCOME FROM CHARITABLE ACTIVITIES Activity Primary purpose trading General Grants General Grants received, included in the above, are as follows: Job Retention Scheme Grants EHCP B&Q Foundation Kickstart Grants John Anthorpe Charity 5. CHARITABLE ACTIVITIES COSTS Direct Costs £ General 536,705 6. GRANTS PAYABLE General |
Grant funding of activities (see note 6) £ 2,441 |
2023 £ 24,688 2023 £ 558,272 3,600 561,872 2023 £ - - - - 3,600 3,600 Support costs (see note 7) £ 13,777 2023 £ 2,441 |
2022 £ 20,253 2022 £ 355,200 39,596 |
2022 £ 20,253 |
|---|---|---|---|---|
| 394,796 | ||||
| 2022 £ 193 5,270 8,000 26,133 - 39,596 Totals £ 552,923 |
2022 £ 193 5,270 8,000 26,133 - |
|||
| 39,596 | ||||
| 2022 £ 888 |
continued...
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NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
7. SUPPORT COSTS
| General NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' social security |
Governance costs £ 13,777 2023 2022 £ £ 9,491 9,782 2023 2022 £ £ 45,695 40,665 5,167 5,765 50,862 46,430 |
|---|---|
8. NET INCOME/(EXPENDITURE)
9. TRUSTEES' REMUNERATION AND BENEFITS
John Evans, a trustee was remunerated in accordance with the articles of the charity. This was in respect of services supplied for both project management and working as the full time CEO of the charity.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.
10. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
2023 £ 225,018 6,042 2,658 233,718 |
2022 £ 135,748 5,765 200 |
| 141,713 |
The staff costs relating to Key Management Personnel were £50,862 (2022: £46,430).
The average monthly number of employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Operations | 9 | 7 |
No employees received emoluments in excess of £60,000.
continued...
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NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,253 - Charitable activities General 394,796 - Total 415,049 - EXPENDITURE ON Charitable activities General 414,688 57,326 NET INCOME/(EXPENDITURE) 361 (57,326) RECONCILIATION OF FUNDS Total funds brought forward 15,436 66,817 TOTAL FUNDS CARRIED FORWARD 15,797 9,491 12. INDEPENDENT EXAMINER'S REMUNERATION The independent examiner received remuneration during the year of £2,140 (2022:£1,586). 13. TANGIBLE FIXED ASSETS Plant and Computer machinery equipment £ £ COST At 1 October 2022 and 30 September 2023 28,474 871 DEPRECIATION At 1 October 2022 18,983 871 Charge for year 9,491 - At 30 September 2023 28,474 871 NET BOOK VALUE At 30 September 2023 - - At 30 September 2022 9,491 - |
Total funds £ 20,253 394,796 415,049 472,014 (56,965) 82,253 25,288 Totals £ 29,345 19,854 9,491 29,345 - 9,491 |
|---|---|
continued...
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NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Other debtors 51,253 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Bank loans and overdrafts (see note 17) 3,400 Social security and other taxes 5,498 Other creditors 85,614 Accruals and deferred income 44,675 139,187 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Bank loans (see note 17) 7,612 17. LOANS Loans comprise a bounce back loan of £11,012 (2022:£14,312) from HSBC Bank PLC. 18. MOVEMENT IN FUNDS Net At movement 1/10/22 in funds £ £ Unrestricted funds General fund 15,797 43,128 Restricted funds GCP Grant Fund 9,491 (9,491) TOTAL FUNDS 25,288 33,637 |
2022 £ 55,457 |
|
|---|---|---|
| 2022 £ 3,400 1,945 31,787 91,050 |
||
| 128,182 | ||
| 2022 £ 10,912 At 30/9/23 £ 58,925 - 58,925 |
2022 £ 10,912 |
|
| 58,925 |
continued...
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NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 586,560 Restricted funds GCP Grant Fund - TOTAL FUNDS 586,560 Comparatives for movement in funds At 1/10/21 £ Unrestricted funds General fund 15,436 Restricted funds GCP Grant Fund 66,817 TOTAL FUNDS 82,253 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 415,049 Restricted funds GCP Grant Fund - TOTAL FUNDS 415,049 |
Resources Movement expended in funds £ £ (543,432) 43,128 (9,491) (9,491) (552,923) 33,637 Net movement At in funds 30/9/22 £ £ 361 15,797 (57,326) 9,491 (56,965) 25,288 Resources Movement expended in funds £ £ (414,688) 361 (57,326) (57,326) (472,014) (56,965) |
|---|---|
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continued...
NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds GCP Grant Fund TOTAL FUNDS |
Net At movement At 1/10/21 in funds 30/9/23 £ £ £ 15,436 43,489 58,925 66,817 (66,817) - 82,253 (23,328) 58,925 |
Net At movement At 1/10/21 in funds 30/9/23 £ £ £ 15,436 43,489 58,925 66,817 (66,817) - 82,253 (23,328) 58,925 |
|---|---|---|
| 58,925 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,001,609 | (958,120) | 43,489 |
| Restricted funds | |||
| GCP Grant Fund | - | (66,817) | (66,817) |
| TOTAL FUNDS | 1,001,609 | (1,024,937) | (23,328) |
Purposes of Restricted Funds
GCP Fund
Grant funding from Cambridgeshire County Council towards training of people in basic construction skills, and qualifications in English, Maths, ICT and Employability up to level 2, and the set up of a dedicated training and construction centre in the Greater Cambridge area.
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continued...
NEW MEANING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023
19. RELATED PARTY DISCLOSURES
New Meaning Training Limited
A company with directors in common
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Amount due to related party at the balance sheet date | 70,977 | 30,618 |
| Mojo Foundation A charity with trustees in common |
||
| 2023 | 2022 | |
| £ | £ | |
| Amount due from related party at the balance sheet date | 45,093 | 45,093 |
These amounts are disclosed in Other Debtors and Other Creditors as appropriate.
The loan to the Mojo Foundation was made by the directors in the knowledge that it may never be recovered due to the perilous economic situation in the Gambia, but are confident that the funds will be used for charitable purposes.
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NEW MEANING FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Charitable activities Primary purpose trading Grants Total incoming resources EXPENDITURE Charitable activities Trustees' salaries Trustees' social security Wages Social security Pensions Contract expenses Sundry expenses Insurance Bank charges Office supplies Travel Advertising Management Depreciation of tangible fixed assets Bank loan interest Grants to institutions Support costs Governance costs Accountancy Legal fees Total resources expended Net income/(expenditure) |
2023 £ 24,688 558,272 3,600 561,872 586,560 45,695 5,167 179,323 875 2,658 254,054 61 819 177 265 2,768 2,157 32,874 9,491 321 2,441 539,146 2,140 11,637 13,777 552,923 33,637 |
2022 £ 20,253 355,200 39,596 394,796 415,049 40,665 5,765 95,083 - 200 290,328 48 1,425 213 1,289 1,067 2,628 6,545 9,782 400 888 456,326 1,586 14,102 15,688 472,014 (56,965) |
|---|---|---|
This page does not form part of the statutory financial statements
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