# Spot Project Annual Financial Statements For the year ended 31 May 2023
**Charity number: 1184662**
**31a Scarborough Street London E1 8DR**
## Spot Project
(A Charitable Incorporated Organisation)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2023
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||||
|---|---|---|
|CONTENTS|Page|
|1.|Information|2|
|2.|Trustees' Report|3 - 8|
|3.|Independent Auditor’s Report|9 - 12|
|4.|Statement of Financial Activities|13|
|5.|Statement of Financial Position|14|
|6.|Statement of Cashflows|15|
|7.|Notes to the Financial Statements|16 - 19|
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## Information
Charity name: Spot Project Charity Registration number: 1184662 Trustees Bilal Abdul-Khaliq Chair Shahima Khanum Nurma Khanum Fatima Batrane
Bank Lloyds Bank 25 Gresham Street London EC2V 7HN
Solicitors Kuddus Solicitors 94 Whitechapel Road London E1 1JQ
Auditors Abacus Partners (Ldn) LLP Unit A, Abbotts Wharf 93 Stainsby Road London E14 6JL
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## **Trustee Annual Report**
**Period - 1[st] June 2022 to 31[st] May 2023**
## **Who we are**
SPOT Project is a charity dedicated to the development of the new generation in Africa and around the world. Our primary goals focus on meeting the educational needs of society and equipping individuals with the skills necessary for their prosperity.
## **Our Governance**
SPOT Project is a Charitable Incorporated Organisation where the trustees are the sole members. The charity’s governing document is based on the foundation model of a charitable incorporated organisation.
## **Recruitment & Appointment of New Trustees**
Apart from the initial charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment, the trustees must consider the skills, knowledge, and experience required for the effective administration of the charitable incorporated organisation model run by SPOT.
## **Reserves**
The reserves policy of SPOT Project is to hold reserves sufficient to cover three months' salary and three months' running costs (utilities and rent) to ensure adaptability to any changes in income and expenditure. Currently, we are operating with reserves significantly beyond this threshold
## **Statement of Trustees Responsibilities**
The Trustees are responsible for preparing the Strategic Report, the Annual Report, and the financial statements in accordance with applicable law and regulations. The Trustees must not approve the
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financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of the application of resources, including the income and expenditure of the group for that period.
## **Our Vision**
To see a world where we empower every individual to be the best they can through education and development.
## **Our Mission**
SPOT Project aims to illuminate the hearts, faces, and minds of underprivileged individuals around the world.
- _Education:_ We aim to build institutions to educate, develop, and empower individuals with essential skills to fulfill their potential.
- _Development:_ We provide access to basic necessities to improve living conditions for all individuals.
- _Empower:_ We motivate a generation that contributes to a better world.
## _Our Principles:_
- Youth
- Support/Empowerment
- Development
- Transparency
- Standards
- Opportunity
- Legacy Building
- Helping/Changing society
## _What the Charity Does:_
- General Charitable Purposes
- Education/training
- Advancement of Health or Saving of Lives
- Prevention or Relief of Poverty
- Religious Activities
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_Who the Charity Helps:_
- Children/young People
- Elderly/old People
- People With Disabilities
- The General Public/mankind
_How the Charity Helps:_
- Provides Human Resources
- Provides Buildings/facilities/open Space
- Provides Services
- Provides Advocacy/advice/information
_Where the Charity Operates:_
- Throughout England and Wales
- The Gambia
## **The Charity’s Objectives**
- The advancement of the Islamic religion, including religious education for the public benefit.
- To advance education for the public benefit of young people in The Gambia and the developing world.
- To promote and protect good health for the public benefit of people in The Gambia and the developing world.
- The prevention or relief of poverty for the public benefit in The Gambia as the trustees shall determine.
- To promote the provision of facilities for recreation or other leisure time occupation for individuals who need such facilities due to youth, age, gender, financial hardship, or social and economic circumstances.
## **Strategy**
In this financial year, SPOT Project continued to build on the foundations established in previous years. Our core focus remains on educating and developing young people, particularly through projects like building schools and mosques, constructing boreholes for sustainable water access, and supporting orphans and the needy.
5
## _Main Activities Carried Out to Meet the Objectives:_
- Started the construction fo the Girls School and Multi-Purpose Centre.
- Continued the building of the water boreholes project, benefiting over 1,000 people.
- Launch and continuation of a successful Zakat distribution program.
- Final stages of completing the primary school project.
- Continued the expansion of the orphan sponsorship program.
- Delivery of food parcels in the UK to support single parents, the disabled, the elderly, and financially struggling families.
## _Volunteers Contribution to the Charity:_
Volunteers remain vital to our operations. We have a team of over 30 registered volunteers who have worked closely with us, some even traveling to The Gambia to witness firsthand the impact of their efforts. These experiences have been transformative not only for the beneficiaries but also for the volunteers themselves. We plan to expand our volunteer base in the coming year.
## _Main Achievements of the Year:_
- Fundraising for and the allocation of land for the Girls School & Multi-Purpose Centre.
- Completion of 75 water boreholes.
- Ongoing success of the Zakat program.
- Progress in fundraising for additional schools and mosques.
- Near completion of the primary school.
- Launch of the orphan sponsorship program.
- Delivery of food parcels to those in need in the UK.
## **Financial Review**
For the financial year ending 31st May 2023, SPOT Project's total income was £1,775,313, a significant increase from £1,380,255 in the previous year. The total expenditure for the year was £1,824,118, up from £1,005,012 in the prior year, reflecting the increased scale of our activities.
_Income:_
The charity received £1,775,313, with £1,446,458 from restricted funds and £328,855 from unrestricted funds.
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_Expenditure:_ The charity's total expenditure was £1,824,118, with £1,267,210 allocated to charitable activities and £556,908 to fundraising and administrative costs. The charity ended the year with net assets of £1,586,216, a slight decrease from £1,635,021 in the previous year. This includes £691,181 in unrestricted funds and £895,035 in restricted funds. _Going Concern:_ The trustees have assessed that the charity has adequate resources to continue operating for at least the next 12 months, thanks to a strong financial position and prudent reserves management. Change of Financial Year: _The financial year-end was_ aligned with the academic year in The Gambia to facilitate better planning and project execution. **Conclusion**
The financial year ending 31st May 2023 has been a pivotal period for SPOT Project, marked by significant growth and impactful achievements. Despite facing global economic challenges and the ongoing recovery from the pandemic, our charity has demonstrated resilience, adaptability, and unwavering commitment to its mission. This year, we successfully increased our income to £1,775,313, reflecting the generosity of our donors and the effectiveness of our fundraising strategies. The considerable increase in restricted funds highlights the trust our supporters place in our specific projects, particularly in the areas of education, water provision, and poverty relief. Our expenditure also grew to £1,824,118, a testament to our expanded operations and the broader scope of our charitable activities. Key milestones, such as the completion of 75 water boreholes, the ongoing success of our Zakat distribution program, and the near completion of the primary school, underscore our dedication to creating long-lasting change in the communities we serve. The allocation of land and the detailed planning for the Girls School & Multi-Purpose Centre demonstrate our forward-thinking approach and our commitment to addressing the educational needs of the next generation, particularly in The Gambia.
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Volunteers have remained at the heart of our operations, and their contributions have been invaluable. Their involvement not only enhances our capacity to deliver services but also enriches the lives of the volunteers themselves, fostering a deeper connection to our cause and the communities we support.
Financially, we have maintained a robust position with net assets of £1,586,216 at year-end, ensuring that we are well-equipped to navigate future uncertainties. Our prudent reserves policy and strong governance framework have provided a solid foundation for sustainable growth, enabling us to continue our work with confidence.
Looking ahead, we are excited about the prospects of furthering our mission. The groundwork laid this year, particularly in project planning and community engagement, will allow us to scale our impact even more in the coming year. We remain focused on our core objectives: empowering individuals through education, improving living conditions through development projects, and providing essential support to those in need.
As we move forward, we are committed to deepening our impact, expanding our reach, and continuously improving our strategies to better serve our beneficiaries. We are grateful for the continued support of our donors, volunteers, and partners, and we look forward to another year of growth, learning, and meaningful change.
SPOT Project is not just a charity; it is a movement towards a more educated, developed, and empowered world. Together, with your support, we are building a brighter future for all.
## Bilal Abdul-Khaliq
**Spot Project Chair 22[nd] September 2024**
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## THE SPOT PROJECT
## (A Charitable Incorporated Organisation) Independent Auditor’s Report for the year ended 31 May 2023
## **Opinion**
We have audited the accounts of The Spot Project (the ‘charity’) for the year ended 31 May 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). In our opinion, the accounts:
- Give a true and fair view of the state of the charity’s affairs as at 31 May 2023 and of its income and expenditure for the year then ended;
- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- Have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability
9
to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report and accounts, other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
- The information given in the trustees’ annual report is inconsistent in any material respect with the accounts; or — Sufficient accounting records have not been kept; or
- The accounts are not in agreement with the accounting records and returns; or
- We have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error
In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the charity through discussions with management, and from our knowledge and experience of the sector, and assessed compliance.
- We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- - Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
- - Checking and making enquiries of unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
11
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Mr Nur Ahmed Chowdhury (Senior Statutory Auditor) For and on behalf of Abacus Partners (Ldn) LLP
Unit A, Abbotts Wharf 93 Stainsby Road London E14 6JL
23[rd] September 2024
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## **SPOT PROJECT (A Charitable Incorporated Organisation) STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 May 2023**
|**Total**
**Unrestricted**
**Restricted**
**2023**
**INCOME AND EXPENDITURE**
Notes
£
£
£
**INCOMING RESOURCES**
Donations and legacies
**2**
328,855
1,446,458
1,775,313
**Total Income**
**328,855**
**1,446,458**
**1,775,313**
**RESOURCES EXPENDED**
Fundraising costs
**3**
253,257
-
253,257
Charitable Activities Costs
**4**
-
1,267,210
1,267,210
Administrative Costs
**5**
303,651
-
303,651
**Total Resources Expended**
**556,908**
**1,267,210**
**1,824,118**
**Net Deficit for the year**
(228,053)
179,248
(48,805)
**Funds as at 1 June 2022**
962,051
672,970
1,635,021
**Fund Movement**
(42,817)
42,817
-
**Funds as at 31 May 2023**
**9**
**691,181**
**895,035**
**1,586,216**|**Total**
**2022**
£
1,380,255|
|---|---|
||**1,380,255**|
||204,374
672,171
128,467|
||**1,005,012**|
||375,243
1,259,778
-|
||**1,635,021**|
All of the charity’s activities derived from continuing operations during the above financial periods.
The charity has no recognised gains and losses other than those shown above.
The notes on pages 16 to 20 form part of these accounts.
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## **SPOT PROJECT (A Charitable Incorporated Organisation) STATEMENT OF FINANCIAL POSITION For the year ended 31 May 2023**
|Notes
**Fixed Assets:**
Tangible Assets
**6**
**Current Assets:**
Debtors and prepayments
Cash at Bank and in hand
**Current Liabilities:**
Amount falling due within one year
**7**
**Net Current Assets**
**Total Net Assets**
**Funds**
Unrestricted funds: General
**9**
Restricted fund
**8**
**Total Funds**|£
100,000
1,472,897|**Total**
**Total**
**2023**
**2022**
£
£
27,174
8,275
1,636,746
1,636,746
10,000
1,559,042
1,626,746
**1,586,216**
**1,635,021**
691,181
962,051
895,035
672,970
**1,586,216**
**1,635,021**|
|---|---|---|
||1,572,897
13,855||
||||
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024, and are signed on behalf of the board by:
Bilal Abdul-Khaliq Chair
Shahima Khanum Trustee
The notes on pages 16 to 19 form part of these accounts.
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## **SPOT PROJECT (A Charitable Incorporated Organisation) STATEMENT OF CASHFLOWS For the year ended 31 May 2023**
|**Cash Outflow from Operating Activities**
Operating Profit
Depreciation
(Gain)/Loss on fIxed asset disposal|£
(48,805)
8,729|**2023**
£|£
375,243
2,524|**2022**
£|
|---|---|---|---|---|
|Operating Profit Before Working Capital Chgs
(Increase)/Decrease in Debtors
Increase/(Decrease) in Creditors|(40,076)
(100,000)
3,855||377,767
-
5,000||
|Cash from Operations|(136,221)||382,767||
|Net Cash Generated from Operations
**Cash Outflow from Investment Activities**
Purchase of Tangible Fixed Assets
Fixed assets disposal|(27,628)|(136,221)|(3,519)|382,767|
|Net Cash inflow/outflow from investment Activities
**Cash Outflow from Financing Activities**
Increase/(Decrease) of Loans|-|(27,628)
-|-|(3,519)
-|
||||||
|Net Increase/(decrease) in Cash and Cash Equivalents
Opening Cash and Cash Equivalents||(163,849)
1,636,746||379,248
1,257,498|
|Closing Cash and Cash Equivalents||1,472,897||1,636,746|
|**Reconciliation:**
Cash at bank and in hand||1,472,897||1,636,746|
|||1,472,897||1,636,746|
No separate statement of changes in net debt has been prepared as there is no difference between the movements in cash and cash equivalents and movement in net cash (debt).
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SPOT PROJECT
(A Charitable Incorporated Organisation)
Notes to the financial statements
For the year ended 31 May 2023
1 Accounting Policies
1.1 Basis of preparation of accounts:
The financial statements have been prepared in accordance with 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) - (Charities SORP 2015
(FRS 102), and the Charities Act 2011.
The charity meets the definition of a public benefit entity under FRS 102. Items are recognised at historical
cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The functional
currency for presentation is sterling, with balances rounded to the nearest pound.
1.2 Income:
Income is recognised in the period when the charity is entitled to it, the income can be be measured
reliably, and its probably that the income will be received.
Donations are recognised when the charity has confirmation of the amount and settlement date.
Income with peformance related conditions is deferred until the conditions are fully met, or the fulfilment
of those conditions is wholly within the control of the charity, and probably to be fulfilled in the period.
1.3 Expenditure categories:
Expenditure is included in the statement of financial activities when incurred, and includes attributable VAT
which cannot be recovered. It is categorised as below:
Fundraising expenditure:
These relate to the costs of resources in running events for public collection, as well as processing fees
on donation platforms.
Charitable activity costs:
These expenditures are for deliverance of objectives set out in the Trustees' report, and relate mainly
to direct charitable work conducted, in addition to direct costs incurred in facilitating those projects.
Support costs:
Support costs relate to the costs of governance, IT, finance and other activities involved in managing the
organisation.
1.4 Allocation of costs
Costs are allocated between restricted and unrestricted funds in according with the purpose that the
expenditure represents. Where expenditure is directly incurred for projected delivery where those projects
are funded by restricted income, the expenditure will also be categorised as restricted. At present the
charity does not allocate any support costs to restricted funds.
1.5 Tangible fixed assets and depreciation:
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the annual rates in
order to write off each class of assets over its estimated useful life.
FF & Office Equipment 20% on cost
Motor vehicles 25% on cost
1.6 Funds:
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity.
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Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
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## **SPOT PROJECT**
## **(A Charitable Incorporated Organisation) Notes to the financial statements For the year ended 31 May 2023**
## **1.7 Going concern:**
At the time of approving the accounts, the trustees have assessed that the charity has adequate resources to continue in operational existence for at least another 12 months, thus adopting the going concern basis of accounts presentation. The unrestricted reserves (£0.6m) at year-end, built up via successful campaigns, provides sufficient security for any large unforseen costs the charity may face.
## **Income Summary**
|**2**
**3**
**4**
**5**|**Charitable Activities Income**
Unrestricted
Restricted
2023
£
£
£
General donations
328,855
328,855
Project related donations
1,446,458
1,446,458
-
328,855
1,446,458
1,775,313
**Expenses Summary**
**Fundraising Cost**
Unrestricted
Restricted
2023
£
£
£
Costs of generating donations and legacies
45,261
45,261
Commission charges pertaining to collections
76,749
76,749
Digital marketing
131,247
131,247
253,257
-
253,257
**Charitable Activities Cost**
Unrestricted
Restricted
2023
£
£
£
Storage and transport
18,530
18,530
Direct project implementation
1,248,680
1,248,680
Travel
-
-
1,267,210
1,267,210
**Administrative Cost**
Unrestricted
Restricted
2023
**a) Support Costs**
£
£
£
Staff salaries
82,850
82,850
Employer NIC
1,623
1,623
Employer Pension
1,787
1,787
Rent, rates and insurance
83,719
-
83,719
Subscriptions
2,632
2,632
Printing, postage and stationery
20%
8,609
-
8,609
Telephone & internet charges
1,200
1,200
IT software & consumables
490
490
Relocation expenses
72,915
72,915
Depreciation
8,729
8,729
Bank charges
311
311
Contractors
9,237
9,237
Electricity
1,866
1,866
General expenses
6,458
6,458
Repairs and maintenance
5,390
5,390
287,816
-
287,816
**b) Governance Costs**
Legal and consultancy fees
10,835
10,835
Management expenses
-
Audit & Accountancy Fees
5,000
5,000
15,835
-
15,835
303,651
-
303,651
**Total Expenses**
**556,908**
**1,267,210**
**1,824,118**|2022
£
783,173
597,082
-|
|---|---|---|
|||1,380,255|
|||2022
£
152,117
52,257|
|||204,374|
|||2022
£
28,868
634,017
9,286|
|||672,171|
|||2022
£
26,111
3,045
7,944
2,995
2,415
2,524
2,041
38,461|
|||85,536
17,631
20,300
5,000|
|||42,931|
|||128,467|
|||**1,005,012**|
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## **SPOT PROJECT (A Charitable Incorporated Organisation) Notes to the financial statements For the year ended 31 May 2023**
## **6 Tangible Fixed Assets:**
|**Cost:**
At 1st June 2022
Addition
Disposal
**Depreciation:**
At 1st June 2022
Disposal elimination
Charge for the year
**Net Book Value**
At 31st May 2023
At 31st May 2022|Office
Vehicles
**Total**
Equipment
£
12,619
12,619
14,028
13,600
27,628|
|---|---|
||26,647
13,600
40,247|
||4,344
4,344
5,329
3,400
8,729|
||9,673
3,400
13,073|
||16,974
10,200
27,174|
||8,275
-
8,275|
|**Debtors**
2023
2022
£
£
Rent deposits
100,000
100,000
-
Rent deposits relate to a new lease commencing in September 2023, as disclosed in Note 12
**7**
**Creditors: Amount Falling Due < One Year**
2023
2022
£
£
Accruals
5,000
10,000
PAYE
7,072
Pensions
1,783
13,855
10,000
**8**
**Restricted funds movement:**
Opening
Restricted
Restricted
Closing
Balance
Income
Expenses
Adjustment
Balance
£
£
£
£
£
Borehole
151,187
458,732
268,609
341,310
Education
425,399
824,937
817,491
432,845
Food
96,384
62,788
38,293
120,879
Zakaat
-
100,001
100,000
1
UK Projects
42,817
42,817
-
Total
672,970
1,446,458
1,267,210
42,817
895,035
**9**
**Movement in Funds**
Unrestricted
Designated
Total
Restricted
Funds
Funds
Unrestricted
Funds
Total
£
£
£
£
£
As at 1 June 2022
953,776
8,275
962,051
672,970
1,635,021
Current year
(228,053)
(228,053)
179,248
(48,805)
-
Transfers
(61,716)
18,899
(42,817)
42,817
As at 31 May 2023
664,007
27,174
691,181
895,035
1,586,216|**Debtors**
2023
2022
£
£
Rent deposits
100,000
100,000
-
Rent deposits relate to a new lease commencing in September 2023, as disclosed in Note 12
**7**
**Creditors: Amount Falling Due < One Year**
2023
2022
£
£
Accruals
5,000
10,000
PAYE
7,072
Pensions
1,783
13,855
10,000
**8**
**Restricted funds movement:**
Opening
Restricted
Restricted
Closing
Balance
Income
Expenses
Adjustment
Balance
£
£
£
£
£
Borehole
151,187
458,732
268,609
341,310
Education
425,399
824,937
817,491
432,845
Food
96,384
62,788
38,293
120,879
Zakaat
-
100,001
100,000
1
UK Projects
42,817
42,817
-
Total
672,970
1,446,458
1,267,210
42,817
895,035
**9**
**Movement in Funds**
Unrestricted
Designated
Total
Restricted
Funds
Funds
Unrestricted
Funds
Total
£
£
£
£
£
As at 1 June 2022
953,776
8,275
962,051
672,970
1,635,021
Current year
(228,053)
(228,053)
179,248
(48,805)
-
Transfers
(61,716)
18,899
(42,817)
42,817
As at 31 May 2023
664,007
27,174
691,181
895,035
1,586,216|2023
2022
£
£
100,000
100,000
-
as disclosed in Note 12
2023
2022
£
£
5,000
10,000
7,072
1,783
13,855
10,000
Restricted
Closing
Expenses
Adjustment
Balance
£
£
£
268,609
341,310
817,491
432,845
38,293
120,879
100,000
1
42,817
42,817
-|
|---|---|---|
||672,970
1,446,458|1,267,210
42,817
895,035|
18
## **SPOT PROJECT**
## **(A Charitable Incorporated Organisation) Notes to the financial statements For the year ended 31 May 2023**
|**10 Auditor's Remuneration:**
Auditor's Remuneration for the audit of the charity's annual accounts
Fees Payable to the charity's auditor for non-audit services|2023
2022
£
£
3,000
3,000
2,000
2,000|
|---|---|
## **11 Taxation**
The entity is a registered charity and does not undertake non-charitable activities, hence entitling it to tax exemptions from HMRC.
## **12 Post Balance Sheet Events**
In September 2023, the charity entered into a new short-term lease at 75 Purley Downs Road, Croydon.
## **13 Transaction with Trustees**
There were no transactions with the trustees or reimbursements for expenses during the year.
## **14 Contingent Liabilities**
The charity had no contingent liabilities as at 31 May 2023 nor at 31 May 2022.
## **15 Related Party Transactions**
There were no related party transactions during the year.
## **16 Financial commitments**
As at 31st March 2023, the charity had the following future minimum lease payments under non-cancellable operating leases:
|**Land and buildings**
Under one year
Between 2-5 years
More than 5 years|2023
2022
£
£
69,800
25,000|
|---|---|
||-
11,000
-
-|
## **17 Volunteers**
The charity engaged the use of 30 registered volunteers during the year.
## **18 Liability of members**
The charity is constituted as a charitable incorporated organisation. In the event of the charity being wound up members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
19