DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 **Charity number: 1185674** ## **BUSINESS2SCHOOLS** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 6| |**Independent examiner's report**|7 - 8| |**Statement of financial activities**|9| |**Balance sheet**|10| |**Notes to the financial statements**|11 - 21| DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023** **Trustees** G Deane, Trustee P Parker, Trustee J Joy, Trustee C Doran-Hannon, Trustee (appointed 1 June 2023) M Wood, Trustee (appointed 1 June 2023) **Charity registered number** 1185674 **Principal office** Grosvenor Properties 28 Grosvenor Street London W1K 4QR **Accountants** Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA Page 1 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023** The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2022 to 31 March 2023. ## **Objectives and activities** ## **a. Policies and objectives** To advance the education of pupils across England and Wales by providing and assisting in the provision of facilities (not required to be provided by the local education authority) in particular but not exclusively through former office furniture and IT equipment no longer required by businesses and companies for the benefit of schools. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Strategies for achieving objectives** Business2Schools continued its exponential growth throughout the last financial year. As more companies sought sustainable alternatives to discarding unwanted furniture and technology, state schools across the UK are a fantastic option for repurposing office infrastructure. The Charity expanded its partnerships, welcoming more removal and clearance firms eager to refer their clients office moves through the Charity. Engagement with Business2Schools continues to grow due to the focus on the circular economy and ESG principles. Repurposing office infrastructure significantly aids schools, whose funding is prioritised for teaching and learning. Over the previous financial year, Business2Schools completed more than 160 projects. The commitment was directed to ensure where possible donations of furniture and tech reached schools in close proximity to each donation minimising additional carbon emissions from transportation, also working to ensure that deliveries were made in full lorry loads. Furthermore, over 75+ branches of high street banks donated their furniture and tech to local schools, bolstering community support. In a significant milestone, the Charity undertook its first Government project, partnering with the Government Property Agency. Remarkably, GPA repurposed 70% of their surplus furniture, slashing over 20 tonnes of carbon emissions. This reduction in recycling costs also conserved around £25,000 in public funds. To understand the impact of the digital divide, Business2Schools undertook case studies in six selected schools, focusing on providing as many if not every pupil with a laptop and access to technology. This data aims to encourage more firms to donate their redundant tech, knowing that each donated laptop saves 220 kg/CO2. Notably, these laptops from businesses are 3-5 years old, contrasting with schools upgrading their technology every 10 years. Efforts to streamline the furniture re-homing system paid off, with the Charity supporting over 500 projects in the year 2022-2023. The enhanced sustainability reporting vividly demonstrates the carbon emission savings of each donation. Bypassing the recycling process and directly delivering items to schools magnifies the impact. Page 2 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **Objectives and activities (continued)** ## **c. Activities undertaken to achieve objectives** The Charity's growth and popularity among firms seeking sustainable solutions for office moves, refurbishments, and closures prevented thousands of items from heading to recycling or landfill. This benefits both businesses, economising on landfill and recycle costs while aligning with ESG and climate change objectives, and schools, preserving their infrastructure budgets for teaching and learning. In moments of crisis, Business2Schools stepped up. A flooded school in March 2023 found support in replacing all lost furniture and tech. Schools trying to fundraise or address situations with stolen laptops received devices from businesses, free of charge. While the volume of laptop donations reduced post-lockdown, the Charity remains steadfast in encouraging firms to continue donating to bridge the digital divide and combat digital poverty among almost 5000 registered schools in England and Wales. During the Ukrainian crisis, the Charity received an influx of laptop requests. Generous donations from businesses enabled support for schools with refugee children, facilitating their English language learning. These contributions proved invaluable. Our vision is to ensure every child in schools, both in the UK has uninterrupted access to online learning at home and at school throughout their education. Digital technology is essential for everyday life, and every pupil deserves this access. As the world faces a climate crisis and unnecessary carbon emissions, Business2Schools is committed to shaping classrooms supported by the circular economy, revolutionising the learning landscape and showing children in the most tangible way the simple ways passing on the things we no longer need, so they can be rehomed and reused is a great way to impact climate change for the future. The economic crisis continues to cast a shadow on small charities, with minimal public funding available. Business2Schools depends on contributions from businesses to facilitate the re-homing of their surplus items. Although Business2Schools operates nationally, its impact resonates deeply within each community. The Mayor of Chichester selected Business2Schools as one of the supported charities during his term of office. Volunteers play a pivotal role in our re-homing process, generously offering their time and support. Our proactive Trustees are actively engaged in bolstering the Charity's initiatives. Page 3 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **Achievements and performance** ## **a. Main achievements of the Charity** Throughout 2022-2023, Business2Schools efforts resulted in successfully rehoming over 75+ high street banks, marking a significant achievement for the charity. We were able to assist the Government Property Agency with their clearances, with an outlook on a long-term partnership. The Charity received generous contributions of furniture and tech from high profile businesses such as Legal & General, Allen & Overy, JLL, Sony Music, SMBC, Selfridges, Birmingham City Council, Magnox, Knight Frank, CBRE, and donations from leading universities including LSE, Reading, Leeds Beckett, and Wolverhampton. The diverse array of companies, regardless of their scale or location, reaching out to the Charity speaks volumes about the organic growth fostered by word-of-mouth, becoming a driving force for the charity. Our presence on platforms like LinkedIn and Twitter sparked an influx of businesses engaging with the Charity, demonstrating the growing interest and support from the corporate community. Repeated engagement from companies such as Freshfields, JLL, BBC, HSBC, Lloyds, Chaucer, Capita, and others, returning months later with additional donations collected from their offices, reaffirms that re-homing has become an ingrained choice with some businesses. The Charity engaged two additional Trustees, both with backgrounds in education, to assist with how the Charity has grown making sure Business2Schools has a broader representation among the Trustees. Sustainability data became really important to measuring the benefits of the Charity. 2.5 tonnes of donated furniture equate to enough carbon savings to heat a house for a year, while a single donated laptop offsets carbon emissions equivalent to planting 10 trees annually. These profound carbon savings through Business2Schools significantly impact biodiversity, contributing positively to climate change and the environment. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** The Charity is funded by business donations and fundraising. The policy of reserves is to be in credit at all times and keep overheads to an absolute minimum. The Charity did not take advantage of any Covid-19 relief or bounce back packages but put greater emphasis on bringing in corporate donations from businesses whose furniture was being moved. Page 4 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **c. Principal funding** Businesses are the principal supporters of the Charity. The charity is one of the best measures of ESG so we are well supported by the financial services industry. Expenditure is kept to the minimum and we rely heavily on volunteers or freelance support. The Charity policies will be reviewed by the Trustees in 2023/24. ## **Structure, governance and management** ## **a. Constitution** Business2Schools is a registered charity, number 1185674, and is constituted under a Trust deed. ## **b. Methods of appointment or election of Trustees** The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ## **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). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 5 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ **G Deane** Trustee Date: 17-01-2024 | 03:14 PST Page 6 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023** ## **Independent examiner's report to the Trustees of Business2Schools ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 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. Page 7 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Grant Franklin Dated: 19-01-2024 | 11:48 GMT ACA **Hillier Hopkins LLP** Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA Page 8 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**Note**
**Income from:**
Donations and legacies
2
Charitable activities
3
Other income
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**6,788**
**111,970**
**50,394**
**169,152**
**27,091**
**134,271**
**161,362**
**7,790**
**11,029**
**7,790**
**18,819**|**Total**
**funds**
**2023**
**£**
**6,788**
**111,970**
**50,394**
**169,152**
**27,091**
**134,271**
**161,362**
**7,790**
**11,029**
**7,790**
**18,819**|_Total_
_funds_
_2022_
_£_
_34,828_
_145,611_
_15,762_
_196,201_
_26,946_
_169,724_
_196,670_
_(469)_
_11,498_
_(469)_
_11,029_| |---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 11 to 21 form part of these financial statements. Page 9 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **BALANCE SHEET AS AT 31 MARCH 2023** |**Note**
**Fixed assets**
Intangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Total net liabilities / assets**
**Charity funds**
Unrestricted funds
14
**Total funds**|**24,828**
**7,135**
**31,963**
**(17,048)**|**2023**
**£**
**3,904**
**3,904**
**14,915**
**18,819**
**18,819**
**18,819**
**18,819**|_15,799_
_6,442_
_22,241_
_(16,092)_|_2022_
_£_
_4,880_| |---|---|---|---|---| |||||_4,880_
_6,149_| |||||_11,029_| |||||| |||||_11,029_| |||||_11,029_| |||||| |||||_11,029_| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ ## **G Deane** Trustee Date: 17-01-2024 | 03:14 PST The notes on pages 11 to 21 form part of these financial statements. Page 10 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. Accounting policies** ## **1.1 Basis of preparation of financial statements** The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Business2Schools meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **1.2 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. ## **1.3 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 11 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. Accounting policies (continued)** ## **1.4 Intangible assets and amortisation** Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life. The estimated useful lives are as follows: Website costs - 5 years ## **1.5 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.6 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.7 Liabilities and provisions** Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. ## **1.8 Financial instruments** The Charity 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 12 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. Accounting policies (continued)** ## **1.9 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. ## **2. Income from donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
Donations
6,788
_Unrestricted_
_funds_
_2022_
_£_
Donations
_34,828_|**Total**
**funds**
**2023**
**£**
**6,788**
_Total_
_funds_
_2022_
_£_
_34,828_| |---|---| ## **3. Income from charitable activities** |Removal/rehoming
Sponsorship/partnership|**Unrestricted**
**funds**
**2023**
**£**
103,470
8,500
111,970|**Total**
**funds**
**2023**
**£**
**103,470**
**8,500**
**111,970**| |---|---|---| Page 13 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **3. Income from charitable activities (continued)** |Removal/rehoming
Sponsorship/partnership|_Unrestricted_
_funds_
_2022_
_£_
_141,444_
_4,167_
_145,611_|_Total_
_funds_
_2022_
_£_
_141,444_
_4,167_| |---|---|---| |||_145,611_| The above figures for Removal/rehoming include income relating to government projects amounting to £12,480 (2022: £1,000). ## **4. Other incoming resources** |Sale of donated goods
Sale of donated goods|**Unrestricted**
**funds**
**2023**
**£**
50,394
_Unrestricted_
_funds_
_2022_
_£_
_15,762_|**Total**
**funds**
**2023**
**£**
**50,394**
_Total_
_funds_
_2022_
_£_
_15,762_| |---|---|---| Page 14 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **5. Expenditure on raising funds** ## **Costs of raising voluntary income** |Costs of raising voluntary income - wages and salaries
Costs of raising voluntary income - NI|**Unrestricted**
**funds**
**2023**
**£**
24,000
3,091
27,091|**Total**
**funds**
**2023**
**£**
**24,000**
**3,091**
**27,091**| |---|---|---| ## **Costs of raising voluntary income (continued)** |Costs of raising voluntary income - wages and salaries
Costs of raising voluntary income - NI|_Unrestricted_
_funds_
_2022_
_£_
_24,000_
_2,946_
_26,946_|_Total_
_funds_
_2022_
_£_
_24,000_
_2,946_
_26,946_| |---|---|---| **6. Analysis of expenditure on charitable activities Summary by fund type** |Removal/rehoming and sponsorship/partnership
Amortisation - Intangible assets|**Unrestricted**
**funds**
**2023**
**£**
133,295
976
134,271|**Tota**
**2023**
**£**
**133,295**
**976**| |---|---|---| |||**134,271**| Page 15 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **6. Analysis of expenditure on charitable activities (continued) Summary by fund type (continued)** |Removal/rehoming and sponsorship/partnership
**Summary by expenditure type**
Removal/rehoming and sponsorship/partnership
Amortisation - Intangible assets
Removal/rehoming and sponsorship/partnership
**Analysis of expenditure by activities**
Removal/rehoming and sponsorship/partnership
Amortisation - Intangible assets|**Staff costs**
**2023**
**£**
103,211
-
103,211
_Staff costs_
_2022_
_£_
_102,724_
**Activities**
**undertaken**
**directly**
**2023**
**£**
16,565
-
16,565|_Unrestricted_
_funds_
_2022_
_£_
_169,724_
**Other costs**
**2023**
**£**
30,084
976
31,060
_Other costs_
_2022_
_£_
_67,000_
**Support**
**costs**
**2023**
**£**
116,730
976
117,706|_Total_
_2022_
_£_
_169,724_
**Total**
**2023**
**£**
**133,295**
**976**
**134,271**
_Total_
_2022_
_£_
_169,724_
**Total**
**funds**
**2023**
**£**
**133,295**
**976**
**134,271**| |---|---|---|---| ## **7. Analysis of expenditure by activities** Page 16 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **7. Analysis of expenditure by activities (continued)** |Removal/rehoming and sponsorship/partnership
**Analysis of direct costs**
School expenses
**Analysis of support costs**
Staff costs
Irrecoverable VAT
Rent
Travel and subsistence
Entertaining
IT expenses
Donations
Postage
Office supplies
Bank charges
Mobile phone
Cleaning
Governance costs|_Activities_
_undertaken_
_directly_
_2022_
_£_
_51,378_|_Support_
_costs_
_2022_
_£_
_118,346_
**Total**
**funds**
**2023**
**£**
**16,565**
**Total**
**funds**
**2023**
**£**
**103,211**
**976**
**602**
**4,477**
**296**
**1,754**
**112**
**9**
**582**
**312**
**-**
**350**
**5,025**
**117,706**|_Total_
_funds_
_2022_
_£_
_169,724_| |---|---|---|---| ||||_Total_
_funds_
_2022_
_£_
_51,378_| ||||_Total_
_funds_
_2022_
_£_
_102,724_
_1,935_
_928_
_1,497_
_332_
_1,167_
_200_
_94_
_1,146_
_288_
_102_
_-_
_7,933_| ||||_118,346_| Page 17 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **8. Independent examiner's remuneration** ||**2023**|_2022_| |---|---|---| ||**£**|_£_| |Fees payable to the Charity's independent examiner for the independent||| |examination of the Charity's annual accounts|**2,750**|_2,500_| ## **9. Staff costs** |Wages and salaries
Social security costs|**2023**
**£**
**120,000**
**10,302**
**130,302**|_2022_
_£_
_119,850_
_9,820_| |---|---|---| |||| |||_129,670_| The average number of persons employed by the Charity during the year was as follows: ||**2023**|_2022_| |---|---|---| ||**No.**|_No._| |Employees|**4**|_2_| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |||**2023**|_2022_| |---|---|---|---| |||**No.**|_No._| |In the band £70,001|- £80,000|**1**|_1_| ## **10. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ . During the year ended 31 March 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . Page 18 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** |**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**||| |---|---|---| |**11.**
**Intangible assets**
**Cost**
At 1 April 2022
At 31 March 2023
**Amortisation**
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2023
_At 31 March 2022_
**12.**
**Debtors**
**Due within one year**
Trade debtors
Other debtors
**13.**
**Creditors: Amounts falling due within one year**
Other taxation and social security
Accruals and deferred income|**2023**
**£**
**20,820**
**4,008**
**24,828**
**2023**
**£**
**14,298**
**2,750**
**17,048**|**Website**
**costs**
**£**
**4,880**
**4,880**
**976**
**976**
**3,904**
_4,880_
_2022_
_£_
_14,492_
_1,307_
_15,799_
_2022_
_£_
_13,592_
_2,500_
_16,092_| Page 19 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **14. Statement of funds** ## **Statement of funds - current year** |**Balance at 1**
**April 2022**
**£**
**Unrestricted funds**
General Funds - all funds
**11,029**
**Statement of funds - prior year**
_Balance at_
_1 April 2021_
_£_
**Unrestricted funds**
General Funds - all funds
_11,498_|**Income**
**£**
**169,152**
_Income_
_£_
_196,201_|**Expenditure**
**£**
**(161,362)**
_Expenditure_
_£_
_(196,670)_|**Balance at**
**31 March**
**2023**
**£**
**18,819**| |---|---|---|---| ||||_Balance at_
_31 March_
_2022_
_£_
_11,029_| ## **15. Summary of funds** ## **Summary of funds - current year** |**Balance at 1**
**April 2022**
**£**
General funds
**11,029**
**Summary of funds - prior year**
_Balance at_
_1 April 2021_
_£_
General funds
_11,498_|**Income**
**£**
**169,152**
_Income_
_£_
_196,201_|**Expenditure**
**£**
**(161,362)**
_Expenditure_
_£_
_(196,670)_|**Balance at**
**31 March**
**2023**
**£**
**18,819**| |---|---|---|---| ||||_Balance at_
_31 March_
_2022_
_£_
_11,029_| Page 20 DocuSign Envelope ID: 24C6FA43-4632-458A-9F7C-46F8452B5694 ## **BUSINESS2SCHOOLS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **16. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Intangible fixed assets
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2023**
**£**
3,904
31,963
(17,048)
18,819|**Total**
**funds**
**2023**
**£**
**3,904**
**31,963**
**(17,048)**
**18,819**| |---|---|---| ## **Analysis of net assets between funds - prior year** |Intangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2022_
_£_
_4,880_
_22,241_
_(16,092)_
_11,029_|_Total_
_funds_
_2022_
_£_
_4,880_
_22,241_
_(16,092)_
_11,029_| |---|---|---| Page 21