**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 2024**
## **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 2024**
**----- Start of picture text -----**
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 16
**----- End of picture text -----**
**NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
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 2024. 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 including SEND learners, in construction and functional skills.
## **Significant activities**
During the year the charity constructed, completed and installed 4 SPACE© microhomes in Cambridge. These were funded with additional grants for training from Allia and It Takes a City Community Land Trust Cambridge.
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 x3 high quality, high specification "Mojo SPACE© " Garden Rooms - 60 year minimum lifespan; 12 year warranty; one in Newnham, Cambridge now being used as a home gym; one in Barnwell, Cambridge offering a studio flat extension for visiting family members and another a home business office.
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 2024 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. Reserves as at 30 September 2023 stood at £93,112.
## **FUTURE PLANS**
The charity continues to operate a peripatetic learner's scheme covering Cambridgeshire to North Hertfordshire and Bedfordshire. 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. It is aiming to double capacity of SPACE microhomes up to a potential highest volume of 54 per annum.
## **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.
Page 1
**NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
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
## **Trustees**
A G W Beckett Director J C Evans Director Mrs C G Evans Director (resigned 17/6/2024) P Zipp Director Ms R I P Orde Director (resigned 14/10/2024) S Pickering Director (resigned 14/2/2025) A Aus Director (appointed 17/6/2024) Ms L Canham Director (appointed 17/6/2024) (resigned 18/12/2024) Ms T Dawson Director E Jallow (appointed 14/2/2025)
## **Independent Examiner**
Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH
Page 2
## **NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024**
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: 30/07/2025
........................................................................
A G W Beckett - Trustee
Page 3
**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 2024.
## **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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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 2024**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
10,217
**Charitable activities**
4
General
499,580
**Total**
509,797
**EXPENDITURE ON**
**Charitable activities**
5
General
475,610
**NET INCOME**
34,187
**RECONCILIATION OF FUNDS**
Total funds brought forward
58,925
**TOTAL FUNDS CARRIED FORWARD**
93,112|Restricted
fund
£
-
-
-
-
-
-
-|2024
Total
funds
£
10,217
499,580
509,797
475,610
34,187
58,925
93,112|2023
Total
funds
£
24,688
561,872|
|---|---|---|---|
||||586,560|
||||552,923|
||||33,637
25,288|
||||58,925|
The notes form part of these financial statements
Page 5
## **NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)**
## **BALANCE SHEET**
## **30 SEPTEMBER 2024**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
13
194
**CURRENT ASSETS**
Debtors
14
77,320
Cash at bank
117,913
195,233
**CREDITORS**
Amounts falling due within one year
15
(86,130)
**NET CURRENT ASSETS**
109,103
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
109,297
**CREDITORS**
Amounts falling due after more than one year
16
(16,185)
**NET ASSETS**
93,112
**FUNDS**
18
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-
-|2024
Total
funds
£
194
77,320
117,913
195,233
(86,130)
109,103
109,297
(16,185)
93,112
93,112
93,112|2023
Total
funds
£
-
51,253
154,471
205,724
(139,187)
66,537
66,537
(7,612)
58,925
58,925
58,925|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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
Page 6
continued...
## **NEW MEANING FOUNDATION (REGISTERED NUMBER: 08121374)**
## **BALANCE SHEET - continued**
## **30 SEPTEMBER 2024**
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: 30/07/2025
.............................................
A G W Beckett - Trustee
The notes form part of these financial statements
Page 7
**NEW MEANING FOUNDATION**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash (used in)/provided by investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash provided by/(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**|2024
£
(61,917)
(362)
(62,279)
(291)
(291)
29,395
(3,383)
26,012
(36,558)
154,471
117,913|2023
£
58,658
(321)
58,337
-
-
-
(3,300)
(3,300)
55,037
99,434
154,471|
|---|---|---|
The notes form part of these financial statements
Page 8
**NEW MEANING FOUNDATION**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||2024|2023|
||||£|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||34,187|33,637|
||**Adjustments for:**||||
||Depreciation charges||97|9,491|
||Interest paid||362|321|
||(Increase)/decrease in debtors||(26,067)|4,204|
||(Decrease)/increase in creditors||(70,496)|11,005|
||**Net cash (used in)/provided by operations**||(61,917)|58,658|
|**2.**|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1/10/23|Cash flow|At 30/9/24|
|||£|£|£|
||**Net cash**||||
||Cash at bank|154,471|(36,558)|117,913|
|||154,471|(36,558)|117,913|
||**Debt**||||
||Debts falling due within 1 year|(3,400)|(17,439)|(20,839)|
||Debts falling due after 1 year|(7,612)|(8,573)|(16,185)|
|||(11,012)|(26,012)|(37,024)|
||**Total**|143,459|(62,570)|80,889|
The notes form part of these financial statements
Page 9
**NEW MEANING FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **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...
Page 10
**NEW MEANING FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**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:
John Apthorpe Charity
Hopestead
**5.**
**CHARITABLE ACTIVITIES COSTS**
General
**6.**
**GRANTS PAYABLE**
General
**7.**
**SUPPORT COSTS**
General|Direct
Costs
£
472,962|2024
2023
£
£
10,217
24,688
2024
2023
£
£
489,580
558,272
10,000
3,600
499,580
561,872
2024
2023
£
£
-
3,600
10,000
-
10,000
3,600
Support
costs (see
note 7)
Totals
£
£
2,648
475,610
2024
2023
£
£
-
2,441
Governance
costs
£
2,648|
|---|---|---|
continued...
Page 11
**NEW MEANING FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Depreciation - owned assets
**9.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' salaries
Trustees' social security|2024
£
97
2024
£
50,525
5,717
56,242|2023
£
9,491
2023
£
45,695
5,167|
|---|---|---|
|||50,862|
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 2024 nor for the year ended 30 September 2023.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|2024
£
211,089
13,070
3,339
227,498|2023
£
225,018
6,042
2,658|
|---|---|---|
|||233,718|
The staff costs relating to Key Management Personnel were £56,242 (2023: £50,862).
The average monthly number of employees during the year was as follows:
||2024|2023|
|---|---|---|
|Operations|12|9|
No employees received emoluments in excess of £60,000.
continued...
Page 12
**NEW MEANING FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
24,688
-
**Charitable activities**
General
561,872
-
**Total**
586,560
-
**EXPENDITURE ON**
**Charitable activities**
General
543,432
9,491
**NET INCOME/(EXPENDITURE)**
43,128
(9,491)
**RECONCILIATION OF FUNDS**
Total funds brought forward
15,797
9,491
**TOTAL FUNDS CARRIED FORWARD**
58,925
-
**12.**
**INDEPENDENT EXAMINER'S REMUNERATION**
The independent examiner received remuneration during the year of £2,615 (2023:£2,140).
**13.**
**TANGIBLE FIXED ASSETS**
Plant and
Computer
machinery
equipment
£
£
**COST**
At 1 October 2023
28,474
871
Additions
-
291
At 30 September 2024
28,474
1,162
**DEPRECIATION**
At 1 October 2023
28,474
871
Charge for year
-
97
At 30 September 2024
28,474
968
**NET BOOK VALUE**
At 30 September 2024
-
194
At 30 September 2023
-
-|Total
funds
£
24,688
561,872|
|---|---|
||586,560|
||552,923|
||33,637
25,288|
||58,925|
||Totals
£
29,345
291
29,636
29,345
97
29,442
194
-|
continued...
Page 13
**NEW MEANING FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
|**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 17)
Social security and other taxes
Other creditors
Accruals and deferred income
**16.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 17)||2024
£
77,320
2024
£
20,839
6,578
47,563
11,150
86,130
2024
£
16,185||2023
£
51,253|
|---|---|---|---|---|
|||||2023
£
3,400
5,498
85,614
44,675|
||||139,187||
||||2023
£
7,612||
## **17. LOANS**
Loans comprise a bounce back loan of £7,629 (2023:£11,012) from HSBC Bank PLC, and a loan of £29,395 from Unlimited.
## **18. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1/10/23
£
58,925
58,925
Incoming
resources
£
509,797
509,797|Net
movement
At
in funds
30/9/24
£
£
34,187
93,112
34,187
93,112
Resources
Movement
expended
in funds
£
£
(475,610)
34,187
(475,610)
34,187|Net
movement
At
in funds
30/9/24
£
£
34,187
93,112
34,187
93,112
Resources
Movement
expended
in funds
£
£
(475,610)
34,187
(475,610)
34,187|
|---|---|---|---|
||||34,187|
continued...
Page 14
**NEW MEANING FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **18. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At
1/10/22
£
**Unrestricted funds**
General fund
15,797
**Restricted funds**
GCP Grant Fund
9,491
**TOTAL FUNDS**
25,288
Comparative 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|Net
movement
At
in funds
30/9/23
£
£
43,128
58,925
(9,491)
-
33,637
58,925
Resources
Movement
expended
in funds
£
£
(543,432)
43,128
(9,491)
(9,491)
(552,923)
33,637|Net
movement
At
in funds
30/9/23
£
£
43,128
58,925
(9,491)
-
33,637
58,925
Resources
Movement
expended
in funds
£
£
(543,432)
43,128
(9,491)
(9,491)
(552,923)
33,637|
|---|---|---|
|||33,637|
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
1/10/22
in funds
30/9/24
£
£
£
15,797
77,315
93,112
9,491
(9,491)
-
25,288
67,824
93,112|Net
At
movement
At
1/10/22
in funds
30/9/24
£
£
£
15,797
77,315
93,112
9,491
(9,491)
-
25,288
67,824
93,112|
|---|---|---|
|||93,112|
Page 15
continued...
**NEW MEANING FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **18. MOVEMENT IN FUNDS - continued**
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|1,096,357|(1,019,042 )|77,315|
|**Restricted funds**||||
|GCP Grant Fund|-|(9,491)|(9,491)|
|**TOTAL FUNDS**|1,096,357|(1,028,533 )|67,824|
## **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.
## **19. RELATED PARTY DISCLOSURES**
## **New Meaning Training Limited**
A company with directors in common
||**2024**|2023|
|---|---|---|
||**£**|£|
|Amount due to related party at the balance sheet date|**44,550**|70,977|
||||
|**Mojo Foundation**
A charity with trustees in common|||
||**2024**|2023|
||**£**|£|
|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.
Page 16