## **Charity registration number 1186056**
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mrs G Desai Ms S Raychaudhuri Mr D Young Mr M Banceanu Ms L Hood Ms V Shoesmith Mrs G Kayembe (Appointed 29 January 2022) Mr D Betts **Charity number** 1186056 **Principal address** International House 6 South Street Ipswich IP1 3NU **Independent examiner** Helen Rumsey Ensors Accountants LLP Connexions 159 Princes Street Ipswich IP1 1QJ **Bankers** Unity Trust Bank plc 9 Brindley Place Birmingham B1 2HB **Solicitors** Kerseys Solicitors 32 Lloyds Avenue Ipswich IP1 3HD
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 8|
|Independent examiner's report|9|
|Statement of financial activities|10 - 11|
|Balance sheet|12|
|Notes to the financial statements|14 - 30|
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
The trustees present their annual report and financial statements for the year ended 31 October 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
The charity's objects are:
1. The advancement of education:
- To advance the education of the public in communication skills through subjects such as Media, music, ESOL and IT.
2. Community capacity building:
- To develop the capacity and skills of the members of the socially and economically disadvantaged communities of the East of England in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.
3. The advancement of (or promotion of) equality and diversity by:
- Advancing education and raising awareness of equality and diversity.
- Promoting activities to foster the understanding between people of diverse backgrounds.
- Cultivating a sentiment in favour of equality and diversity.
During 2021-22 the trustees have always paid regard to the guidance on public benefit issued by the Charity Commission. The guidance from the Charity Commission has assisted the trustees in ensuring the objects of the charity meet the public benefit stipulation. The guidance has also been taken into consideration when planning and delivering activity designed to meet the charity’s objects.
The charity first registered with the Charity Commission on 30 October 2019.
2021/22 was a difficult year with the COVID 19 pandemic continuing to affect activity across the year, although by the autumn of 2022 the charity had returned to predominantly face to face engagement. The pandemic therefore continued to have an impact on operations but the charity staff rose magnificently to the challenge and we feel we have made good progress in delivering on our main objects.
## The Advancement of Education
For the 2021/22 Academic year we were successful in securing another learning contract with Suffolk County Council. This was to deliver learning programmes for disadvantaged people aged 19+ from the most deprived and diverse wards of central Ipswich.
Throughout 2021/22 we worked with 237 learners, thereby exceeding our targets for the year.
We were the only Suffolk provider that exceeded their targets during this pandemic year. This was for the delivery of a wide range of ESOL courses, IT and Digital Media.
At the beginning of the year courses were mainly delivered online but as the pandemic receded we moved to face to face delivery. Staff performed magnificently throughout the year to deal with the pandemic and the changes to our delivery models. We learned so much during the pandemic and this has helped us to be extremely flexible in our current hybrid model of delivery.
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
We also work hard to promote informal education through our youth projects, which are delivered from South St Studios in partnership with Out Loud Music, Punch Studios, Future Female Society and others. Over the year we worked with 173 children and young people to support their mental health, boost their confidence and help them to progress onto further learning, volunteering and employment.
The main youth projects we delivered over the year in conjunction with our partners were as follows:
## South Street Kids:
SSK delivers weekly music, media, creative and social sessions for local young people from the deprived Maple Park (formerly Jubilee Park) area of IP1. It is our longest running project and is now delivered at Eastern Angles, where there is a large area for the young people to engage in a wide range of music, media and creative activity.
## New Gen:
New Gen delivers weekly music and social sessions for local young people requiring tuition and mentoring that supports their development and life goals.
## Making Waves:
The Making Waves project works with young people referred to us by Suffolk Youth Offending Service and Raedwald Trust who are at risk of being attracted into criminal activity and a possible gang lifestyle. Also includes a group of Unaccompanied Asylum-Seeking Children who are vulnerable and need support. We provide one to one music and media tuition as well as pastoral support to young people in the criminal justice system who often have quite complex needs.
## Community Capacity Building
From November 2021 – October 2022 we engaged with over 30 volunteers who supported our work with ESOL learners and our delivery for disadvantaged young people.
Volunteers and Community Champions are recruited from the community and the courses we deliver. They are promoting the voice of the most disadvantaged in our community.
In addition, they provided community services such as translations for the NHS; signposting for advice, volunteering in surgeries and dealing with an increasing number of requests for help and support – including help with bridging the digital divide.
We were also fortunate to attract Hardship funding from the Suffolk Community Foundation, which allowed us to support some of our most vulnerable families with food parcels, food vouchers, IT support and help with paying essential bills, which saved many of our people from penury during the pandemic and its aftermath.
## The Advancement of (or promotion of) Equality and Diversity
We continued to make progress in helping to bridge the Digital Divide, which was so cruelly exposed by the pandemic in our most disadvantaged communities.
We attracted additional funding to buy laptops and tablets, which were lent out to some of our most deprived families who were struggling during the pandemic to access services and support online.
Because of the success of our Community Champions in supporting women from migrant communities in Maternity Services we were successful in attracting funding to expand this work.
Our Maternity Inequality Project started in May 2022 and works with a diverse group of migrant women from the Westgate Ward area of Ipswich – the most diverse ward in Suffolk and one of the most deprived wards in the country.
The aim is to build trust amongst migrant women in maternity and health services and increase connection, communication and engagement with sources of support, therefore improving health outcomes for parents and babies.
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **Achievements and performance**
Adult Learning:
Over the 21/22 year ICM delivered a range of courses co-produced in partnership with our participants, volunteers, staff and other community partners. The aim was to teach English to those migrant communities that are most vulnerable and disengaged. To support them to improve their employment prospects and give them the knowledge and skills to more effectively engage with local services and integrate with the local community. The focus was on those not currently in the labour market, in paid employment, education or training.
We used our knowledge and lessons learned during the pandemic to offer a new hybrid service of predominantly face to face delivery but supplemented by online delivery for those with chaotic family circumstances or supporting different work patterns and giving everyone a chance to effectively engage.
The courses we delivered for 21/ 22 were as follows:
- English for Health
- Conversational ESOL
- English for Work
- IT and Digital media courses
We were lucky enough to secure additional funding in the spring of 2022 to deliver an additional complement of courses in the summer term.
These were as follows:
- Exam Preparation Course: An exam prep class for reading exams which can then lead to writing and speaking / listening exams (Face to face course)
- Course for Pre-Entry learners (Online evening course)
- Course for Ukrainian learners (Pre-Entry Face to face course)
- A pilot for Driving Test Vocabulary course. (Online morning course)
- Skills for Life Entry Level 3 Level 1 (Face to face courses)
All courses exceeded targets and learners achieved great success as outlined below.
For the delivery of our courses we worked in the most deprived and diverse wards in Ipswich with local migrants. We engaged specifically with Pre-entry, Entry 1, Entry 2 and Entry 3 Learners that were either in low paid employment, or not working and not eligible for benefits.
Some of our Roma and refugee migrants are illiterate in their own language. Learners included Syrians, Kurdish, Afghani, Bangladeshi and Iraqi, plus Portuguese. Mostly they had no English at all when they started with us and many were only semi-literate in their own language, having had their schooling disrupted by wars. They are very vulnerable, having been through extremely traumatic experiences which can affect their ability to learn, engage and integrate into the local community. They often have severe physical and mental health issues and also have many domestic problems to sort out – issues around appointments with schools, hospitals etc.
Our courses proved popular with learners being flexible and responsive to learner needs - over 100% of learners would recommend our courses to friends and family.
We achieved really good rates for retention (89%) achievement (100%) and a pass rate of 100%.
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
The progression rate for our learners moving onto employment, volunteering or further learning came out at 93% which was very pleasing in this most difficult of years.
Staff are professional and deliver a good service. Good feedback from learners; 99% of learners are happy with the tutor support they receive.
Learners are happy and exhibit good personal development; 99% of learners say that their overall experience is either good or outstanding.
## **Children and Young People**
## **Sessions Delivered:**
Number of one to one session delivered: 162
Number of group sessions delivered: 124 (including trips and holiday activities)
Our young people tell us that our project is a place where they feel safe and provide relief from the stresses of lockdown and isolation. Almost 90% of participants who responded with feedback have said their confidence has increased as a result of involvement in our projects. This is in spite of the increase in young people presenting with anxiety and mental health issues.
In addition, the same percentage of participants sampled tell us they have made friends at ICM and increased their social circle, again increasing social links and ties with stronger connections between people. As a result, we are seeing an increase in young peoples’ well-being.
From our monitoring we can say that 90% of young people engaged will have improved their knowledge of IT and digital music and media skills and or other creative skills to some degree as every project has learning embedded in its planning and delivery. In addition, we have seen improvements across the board in team working skills and communication skills.
We have examples of young people securing employment with partner arts organisations and many young people going onto volunteer in creative settings. Many of our younger participants have progressed into further learning and additional extra-curricular activities once they have built up their initial confidence.
Positive Progression at the year-end stood at 57% We are seeing our young people continue to work through the projects and embarking on new opportunities.
The young people we work with have told us they feel they have a say in what we do at ICM and feel they are a part of the decision making and planning, highlighting that our projects are shaped by our young people with their voice at the heart of all decisions, planning and delivery. The Youth Steering Group is particularly vibrant and the young people are always full of ideas, which are carried through to fruition.
82% of young people on the projects have involved themselves in community events and activities over the year. As a result they tell us they have been feeling connected to their community and closer to people since joining the project, ultimately increasing social links and ties and getting involved in community activities.
We have been able to track the young people who engage on our Making Waves, youth offending program. We have a very close working relationship with SYOS (Suffolk Youth Offending Service), which is able to provide us with empirical, independent data on the young people we work with.
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
The project helps them to move away from offending behaviour through raising aspirations through music and media production and the results are again very pleasing:
89% of young people have shown a decrease in the gravity of their offending 89% of young people have shown a decrease in the frequency of their offending 79% of young people have ceased their offending behaviour
## **Volunteering:**
Embedded community learning was supported by a diverse group of volunteers that responds to the needs of the community we serve. We have a large cohort of volunteers many of whom are bilingual from diverse backgrounds – volunteers come from 12 different nationalities and students come from 26 different nationalities
Learners go on to volunteer in the community and in ESOL lessons. Some go on to become Community Champions in their respective communities and volunteering in a number of settings – e.g. Barack Lane Surgery and Suffolk Refugee Support. Providing translations for Burlington Road Surgery. Contributing to county wide ‘What are we Missing?’ sessions.
## **Financial review**
The principal source of income is grants and donations. All income is recognised only when the charity has entitlement to the income. During the year we received a significant donation of £497,475 in the form of stocks, from our valued donor Mr Donal Young. The trustees have the power to spend or retain both capital and income and so the fund is classed as a restricted expendable endowment fund. Donal Young has also made unrestricted donations of £57,500, this year. At the end of our financial year, unrestricted reserves totalled £37,091. All restricted income deferred and not recognised until either their conditions are fully met.
The reserves that we have set aside provide financial stability and the means for the development of our principal activity. We intend to maintain our reserves at a level which is at least equivalent to 6 months’ unrestricted running costs to ensure the financial stability of the charity.
The Board regularly (every 6 months) reviews the amount of reserves that are required to ensure that they are adequate to fulfil our continuing obligations.
Having a reserves policy helps inform the way in which ICMaL manages its cash, liquid assets and debt, that is, its treasury management approach.
A reserves policy will assist ICMaL when planning and explaining its approach to stakeholders. It contributes significantly to the Board’s ability to balance the needs of current and future beneficiaries, to provide stakeholders with assurances that the charity is well managed and that it has, where appropriate, a strategy for building up reserves.
Without a reserves policy, the Board cannot be confident that their reserves level matches the charity's needs at the time. The charity could be holding reserves that are too high or too low for its needs.
The charity’s principal sources of income are from Donations, Gift Aid and grants from Trusts and Foundations. Expenditure on staffing, training and administration has supported the charity in meeting its public interest objectives.
The charity has performed better than expected during a very difficult year due to the pandemic. We have been very lucky to attract significant income from donations which meant that, even during this unprecedented year we generated a small unrestricted surplus, which was not budgeted for. Funds have mainly been spent on the delivery of training courses and community capacity building, with staff costs accounting for the majority of the spend.
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
ICMaL is committed to investing in ethical pension providers that do not support the following industries:
- Fossil Fuels extraction, processing, development
- Tobacco
- Arms companies
- Pornography
- Animal Testing
- Gambling
- Agrochemicals
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
We manage risk through a Risk Register, which is reviewed and updated monthly by the Senior Management Team and reviewed quarterly by the Board of Trustees. Risks are evaluated based on severity and likelihood, which are combined to provide an overall score together with actions to mitigate where appropriate. Our current major risks are identified as staffing, safeguarding, diversification of income and premises uncertainty. Aligned with the risk register is an action plan detailing smart targets and accountability for mitigating risks.
Our Chair of the Board is leading on the production of an organisational plan, which when finished will inform our priority areas of work going forward. We are in the process of acquiring a new building to facilitate the expansion of our ESOL delivery and provide income generation. If successful the purchase is expected to proceed in Q4 of 2023 with immediate occupation.
Trustees vacancies are advertised via our website and social media platforms with a detailed role description. Applicants are asked to submit a copy of their CV with a covering letter, which is then reviewed by the Board of Trustees. If applicants are deemed suitable for the role, they are invited to interview for the role. The interview panel is made up of Trustees and Senior Management and a set of pre-agreed interview questions are used to establish experience and qualifications relevant to the role. Following the interview a recommendation is made to the Board of Trustees, who are then asked to vote on the appointment. Successful applicants are informed, asked to complete the Trustee induction pack and invited to attend the next quarterly Board meeting.
## **Structure, governance and management**
Ipswich Community Media and Learning is a Charitable Incorporated Organisation, registered with and regulated by the Charity Commission. The charity is governed by it's Constitution, dated 30th October 2019.
The trustees who served during the year and up to the date of signature of the financial statements were: Mrs G Desai
Ms S Raychaudhuri Mr D Young Mr M Banceanu Ms L Hood Ms V Shoesmith Mrs G Kayembe (Appointed 29 January 2022) Mr D Betts Mr Curtis Blanc (Resigned 19 October 2022)
- 6 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
ICM is governed by a Board of Trustees. We currently have 8 Trustees, which includes a Chair of Trustees, a HR Trustee and a Safeguarding Trustee. Trustees meet every quarter for a full Board meeting and are kept apprised of activities via a written monthly update across key areas of activity as well as more frequent communication via a Whatsapp group. Decisions are made at quarterly board meetings and where necessary at EGMs and in writing by majority voting.
The charity receives support from Ipswich Community Media CIC a limited company registered in England and Wales with Company No: 9657892. During the year ICM CIC provided access to premises, volunteers and staff support. No cash donations were made in 21/22 although this may transpire in subsequent years. Policies and procedures are in place to ensure that the charity always operates independently of the CIC.
All Trustees are provided with a comprehensive induction pack when appointed to the board, this includes:
- Charity Constitution
- Organisational chart – outlining the main structure and roles
- Mission Statement, Objectives and Values
- Marketing brochure
- Bios and contact details of our Board of Trustees
- Equality and Diversity Policy
- 12-month planner
- Funding Planner
- Fundraising outline
- Risk Register Summary
- Financial accounts
- Board Meetings minutes
All Trustees are required to provide proof of identity and address and complete the following:
- Register of Interests
- Charity Commission Eligibility form
- Trustee Code of Conduct
- Skills Audit
- Trustee Agreement
Furthermore, all Trustees are required to undertake a DBS check and attend training in Safeguarding, Financial Management and Board Governance.
The pay and remuneration of the Senior Management team is overseen by the Chair of Trustees and our HR Trustee.
The charity is registered with the following banking and professional services:
Unity Trust Bank POBox 7193 Planetary Road Willenhall WV1 9DG
Kerseys Solicitors LLP 32 Lloyds Avenue Ipswich Suffolk IP1 3HD
Keyte 10 Middle Street Taunton Somerset, TA1 1SH United Kingdom
- 7 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
The Trustees' report was approved by the Board of Trustees.
> Virginia Ann Shoesmith (Aug 25, 2023 10:15 GMT+1) .............................. Ms V Shoesmith **Trustee** 24/08/2023 Date: .............................................
## Gulshan Kayembe
Gulshan Kayembe (Aug 24, 2023 12:09 GMT+1)
.............................. Mrs G Kayembe **Trustee**
- 8 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
I report to the trustees on my examination of the financial statements of Ipswich Community Media and Learning CIO (the charity) for the year ended 31 October 2022.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Helen Rumsey Ensors Accountants LLP Connexions 159 Princes Street Ipswich IP1 1QJ Helen Rumsey Helen Rumsey (Aug 29, 2023 16:02 GMT+1) Dated: ......................... 29/08/2023
- 9 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
|**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
72,407
-
497,475
Charitable activities
**4**
-
214,617
-
Investments
**5**
134
-
-
Other income
**6**
649
-
-
**Total income and endowments**
73,190
214,617
497,475
**Expenditure on:**
Raising funds
3,165
309
1,118
Charitable activities
**7**
77,867
153,491
-
**Total expenditure**
81,032
153,800
1,118
Net gains/(losses) on investments
**12**
-
-
(25,769)
**Net (outgoing)/incoming resources before transfers**
(7,842)
60,817
470,588|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
569,882
66,850
-
214,617
-
115,664
134
-
-
649
4,172
-
785,282
71,022
115,664
4,592
12,375
-
231,358
58,137
74,339
235,950
70,512
74,339
(25,769)
-
-
523,563
510
41,325|**Total**
**2021**
**£**
66,850
115,664
-
4,172|
|---|---|---|
|||186,686|
|||12,375|
|||132,476|
|||144,851|
|||-|
|||41,835|
- 10 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
|**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Net (outgoing)/incoming resources before transfers**
(7,842)
60,817
470,588
Gross transfers between funds
10,703
(10,703)
-
**Net movement in funds**
2,861
50,114
470,588
Fund balances at 1 November 2021
34,230
71,314
-
**Fund balances at 31 October 2022**
37,091
121,428
470,588|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
523,563
510
41,325
-
-
-
523,563
510
41,325
105,544
33,720
29,989
629,107
34,230
71,314|**Total**
**2021**
**£**
41,835
-|
|---|---|---|
|||41,835
63,709|
|||105,544|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 11 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Debtors
**17**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**18**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Expendable endowment
**21**
**Income funds**
Restricted funds
**22**
Unrestricted funds|**2022**
**£**
12,585
146,725
159,310
(8,288)
470,588|**£**
7,363
470,722
478,085
151,022
629,107
470,588
121,428
37,091
629,107|**2021**
**£**
13,127
120,999
134,126
(39,831)
-|**£**
11,249
-|
|---|---|---|---|---|
|||||11,249
94,295|
|||||105,544|
|||||-
71,314
34,230|
|||||105,544|
24/08/2023
The financial statements were approved by the Trustees on .........................
|Virginia Ann Shoesmith (Aug 25, 2023 10:15 GMT+1)|Virginia Ann Shoesmith (Aug 25, 2023 10:15 GMT+1)|Gulshan Kayembe (Aug 24, 2023 12:09 GMT+1)
Gulshan Kayembe|
|---|---|---|
|..............................||..............................|
|Ms V Shoesmith||Mrs G Kayembe|
|**Trustee**||**Chair**|
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
|**2022**
**Notes**
**£**
**Cash flows from operating activities**
Cash generated from operations
**25**
**Investing activities**
Purchase of tangible fixed assets
(717)
Purchase of investments
(490,535)
Cash in investment portfolio
(9,463)
Proceeds from disposal of investments
500,982
Investment income received
134
**Net cash generated from/(used in)**
**investing activities**
**Net cash used in financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**£**
25,325
401
-
25,726
120,999
146,725|**2021**
**£**
(15,674)
-
-
-|**£**
74,345
(15,674)
-
58,671
62,328
120,999|
|---|---|---|---|
- 13 -
**IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **1 Accounting policies**
## **Charity information**
Ipswich Community Media and Learning CIO is a Charitable Incorporated Organisation first registered with the Charity Commission on 30 October 2019 .
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
The Expendable Endowment fund represents a gift of investments provided from one of Charity Trustees, Donal Young. The trustees can exercise power to spend or apply the capital of the expendable endowment, but this must be towards the charity’s objects, namely through business development activities.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from donations or grants is recognised when there is evidence of entitlement to the monies, the receipt is probable and its amount can be measured reliably.
- 14 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **1 Accounting policies**
**(Continued)**
Income from contracts for the supply of services is recognised when the service has been delivered. This income is classified within restricted funds as there is a requirement for these monies to be spent for a specific purpose.
## **1.5 Expenditure**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is classified under the cost to which it relates.
Expenditure on raising funds includes the costs of all fundraising activities, events, managing investments and non-charitable trading activities.
Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity.
All costs are allocated to expenditure categories reflecting the use of the resource.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|Fixtures and fittings|3-5 years|
|---|---|
|Computers|3-5 years|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 15 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 16 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted **|**Endowment**|**Total **|**Unrestricted**|
|---|---|---|---|---|
||**funds**|**funds**||**funds**|
||**2022**|**2022**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|Donations and gifts|72,407|497,475|569,882|66,850|
## **4 Charitable activities**
|Grant income
Services provided under contract|**2022**
**£**
140,637
73,980
214,617|**2021**
**£**
63,500
52,164|
|---|---|---|
|||115,664|
## **5 Investments**
|Interest on cash deposits and commission rebates
Income from listed investments|**2022**
**£**
94
40
134|**2021**
**£**
-
-|
|---|---|---|
|||-|
All investment income has been generated from the Donal Young expendable endowment fund.
Investment income is accounted for in the period in which the charity is entitled to receipt.
- 17 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **6 Other income**
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Other income|649|4,172|
## **7 Charitable activities**
|Staff costs
Depreciation and impairment
Other direct activity costs
Community support expenses
Other unrestricted costs
Grant funding of activities (see note 8)
Share of support costs (see note 9)
Share of governance costs (see note 9)
**Analysis by fund**
Unrestricted funds
Restricted funds
**8**
**Grants payable**
Grants to institutions:
Grants to individuals (60 grants)|**2022**
**£**
78,096
4,603
55,855
16,875
43
155,472
16,000
55,692
4,194
231,358
77,867
153,491
231,358
**2022**
**£**
16,000
16,000|**2021**
**£**
36,031
4,425
30,883
-
-|
|---|---|---|
|||71,339
3,000
54,597
3,540|
|||132,476|
|||58,137
74,339|
|||132,476|
|||**2021**
**£**
3,000|
|||3,000|
- 18 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **8 Grants payable**
**(Continued)**
During the year the charity has been provided with a grant from the Suffolk Hardship Fund, funded by Suffolk Community Foundation.
Payments from this fund are made to provide help and support to alleviate hardship for families and individuals. Grants awarded may be used towards the costs of food, energy, water and other essential living needs.
There are no future commitments with respect to this fund.
Grants of £6,000 and £10,000 provided by the 2021 & 2022 Suffolk Hardship Fund, have been paid in full to recipients throughout the year to 31 October 2022.
## **9 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Staff costs
38,663
-
Computer and software
354
-
Insurance
580
-
Training costs
120
-
Subcontract labour
615
-
Bank charges
-
-
Membership and license
fees
184
-
Venue hire
59
-
Professional fees
9,373
-
Other costs
5,744
-
Accountancy
-
4,194
55,692
4,194
Analysed between
Charitable activities
55,692
4,194|**2022**Support costs Governance
costs
**£**
£
£
38,663
40,160
-
354
319
-
580
704
-
120
402
-
615
3,504
-
-
111
-
184
553
-
59
478
-
9,373
7,235
-
5,744
1,131
-
4,194
-
3,540
59,886
54,597
3,540
59,886
54,597
3,540|2021
£
40,160
319
704
402
3,504
111
553
478
7,235
1,131
3,540|
|---|---|---|
|||58,137|
|||58,137|
Governance costs includes payments of £4,194 (2021: £3,540) for the independent examination fees and accountancy assistance.
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during either year.
- 19 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **11 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
||13|10|
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
|Wages and salaries|115,157|75,321|
|Other pension costs|1,602|870|
||116,759|76,191|
There were no employees whose annual remuneration was more than £60,000.
## **12 Net gains/(losses) on investments**
|Revaluation of investments
Gain/(loss) on sale of investments|**2022**
**£**
(29,276)
3,507
(25,769)|**2021**
**£**
-
-|
|---|---|---|
|||-|
## **13 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 20 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
|**14**
**Tangible fixed assets**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**Cost**
At 1 November 2021
-
15,674
Additions
257
460
At 31 October 2022
257
16,134
**Depreciation and impairment**
At 1 November 2021
-
4,425
Depreciation charged in the year
86
4,517
At 31 October 2022
86
8,942
**Carrying amount**
At 31 October 2022
171
7,192
At 31 October 2021
-
11,249|**Total**
**£**
15,674
717|
|---|---|
||16,391|
||4,425
4,603|
||9,028|
||7,363|
||11,249|
- 21 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **15 Fixed asset investments**
|**Listed**
**investments**
**£**
**Cost or valuation**
At 1 November 2021
-
Additions
988,010
Valuation changes
(29,276)
Investment income
-
Fees
-
Disposals
(497,475)
At 31 October 2022
461,259
**Carrying amount**
At 31 October 2022
461,259
At 31 October 2021
-|**Cash in**
**portfolio**
-
500,981
-
135
(1,118)
(490,535)
9,463
9,463
-|**Total**
**£**
-
1,488,991
(29,276)
135
(1,118)
(988,010)|
|---|---|---|
|||470,722|
|||470,722|
|||-|
During the year, the charity has been donated an investment portfolio by a trustee. At the time of the donation, the market value of the donation was £497,475.
This portfolio of investments was subsequently disposed of at a value of £500,981 and reinvested into 11 listed investments funds. The historical cost these investments is £490,535.
The fair value at the balance sheet date of material investments, defined as those with fair values greater than 10% of the entire portfolio, can be found below:
Dimensional Global Short Dated Bond (acc) £90,284 CT Responsible Sterling Bond Fund Class 2 (Acc) £65,914 iShares Corporate Bond Index D (Acc) £66,425
## **Fixed asset investments revalued**
Investments in quoted shares and traded bonds have been initially measured at cost and subsequently revalued at the balance sheet date using the bid price.
## **16 Financial instruments**
|**Financial instruments**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|**Carrying amount of financial assets**|||
|Instruments measured at fair value through profit or loss|461,259|-|
- 22 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **17 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**19**
Trade creditors
Other creditors
Accruals and deferred income
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 November 2021
Released from previous periods
Resources deferred in the year
Deferred income at 31 October 2022|**2022**
**£**
8,473
2,682
1,430
12,585
**2022**
**£**
1,667
-
1,403
1,024
4,194
8,288
**2022**
**£**
-
**2022**
**£**
-
20,000
(20,000)
-
-|**2021**
**£**
6,262
6,285
580|
|---|---|---|
|||13,127|
|||**2021**
**£**
705
20,000
12,420
466
6,240|
|||39,831|
|||**2021**
**£**
20,000|
|||**2021**
**£**
20,000|
|||-
-
20,000|
|||20,000|
## **18 Creditors: amounts falling due within one year**
## **19 Deferred income**
Deferred income released relates to the Suffolk Police & Crime Commissioner's Fund for costs to support the 'Making Waves' project in Ipswich, which commenced in the year to 31 October 2022.
- 23 -
**IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **20 Retirement benefit schemes**
## **Defined contribution schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £1,602 (2021 - £870).
## **21 Endowment funds**
The Expendable Endowment fund represents a gift of investments provided from one of Charity Trustees, Donal Young. The trustees can exercise power to spend or apply the capital of the expendable endowment, but this must be towards the charity’s objects, namely through business development activities. These activities comprise:
Business Partnerships Research & market development Business expansion (including capital expenditure) Reduce financial risk
Use of funds in a financial crisis or emergency
Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
|**Movement**
**in funds**
**Incoming**
**resources**
**Balance at**
**1 November**
**2021**
**r**
**£**
**£**
**Expendable endowments**
Donal Young fund
-
-
-
-|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Revaluations**
**gains and**
**losses**
**Balance at**
**31 October**
**2022**
**£**
**£**
**£**
**£**
497,475
(1,118)
(25,769)
470,588
497,475
(1,118)
(25,769)
470,588|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Revaluations**
**gains and**
**losses**
**Balance at**
**31 October**
**2022**
**£**
**£**
**£**
**£**
497,475
(1,118)
(25,769)
470,588
497,475
(1,118)
(25,769)
470,588|
|---|---|---|
|||470,588|
- 24 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **22 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of contracts, donations and grants held on trust for specific purposes:
|**Movement in funds**
**Balance at**
**1 November**
**2020**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 November**
**2021**
**r**
**£**
**£**
**£**
**£**
SCC - ESOL
11,589
52,164
(38,724)
25,029
The Barrow Cadbury Trust
18,400
18,500
(17,723)
19,177
SCF - MLM
-
2,252
-
2,252
SCF - PCC Fund 2021
-
-
-
-
SCF - Realising Ambitions 21-22
-
16,000
(1,554)
14,446
SCF - Suffolk Hardship Fund 2021
-
3,000
(3,000)
-
SCF - Walk & Talk 2021
-
2,000
(200)
1,800
SCC - Activities Unlimited 2021-2022
-
5,610
(2,267)
3,343
IBC - Restart Fund 2021
-
2,500
(239)
2,261
IBC - Reviving Community Foundation
-
13,638
(10,632)
3,006
SCF - Aspire-SCC/Euro
-
-
-
-
SCF - SCC Hardship Fund 2022
-
-
-
-
SCF - SCC Hardship Fund 2021
-
-
-
-
SCF - Realising Ambitions 22-23
-
-
-
-
SCF - Locality
-
-
-
-
Equity in Mind
-
-
-
-
Peoples Health Trust
-
-
-
-
Maternity Inequalities Programme
-
-
-
-
29,989
115,664
(74,339)
71,314|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
73,980
(58,648)
-
(8,474)
-
(2,234)
20,000
(18,000)
-
(13,413)
-
-
-
(1,800)
-
(3,343)
-
(486)
-
(3,006)
4,365
(2,089)
10,000
(10,000)
6,000
(6,000)
5,610
(2,475)
2,500
-
22,090
-
11,396
(387)
58,676
(23,445)
214,617
(153,800)|**Transfers**
**Balance at**
**31 October**
**2022**
**£**
**£**
-
40,361
(10,703)
-
-
18
-
2,000
-
1,033
-
-
-
-
-
-
-
1,775
-
-
-
2,276
-
-
-
-
-
3,135
-
2,500
-
22,090
-
11,009
-
35,231
(10,703)
121,428|**Transfers**
**Balance at**
**31 October**
**2022**
**£**
**£**
-
40,361
(10,703)
-
-
18
-
2,000
-
1,033
-
-
-
-
-
-
-
1,775
-
-
-
2,276
-
-
-
-
-
3,135
-
2,500
-
22,090
-
11,009
-
35,231
(10,703)
121,428|
|---|---|---|---|
||||121,428|
- 25 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **22 Restricted funds**
**(Continued)**
## **Suffolk County Council - ESOL**
Consisting of:
ESOL 2020/21:- For the provision of programmes and projects to support those with English as an additional language and support those into accredited learning.
Connect Through Skills:- For the provision of projects to support unemployed adults to develop Digital Skills and/or Maths, English or ESOL through a shared activity, to help make positive progress towards accredited learning, volunteering or work.
## **The Barrow Cadbury Trust**
To provide ESOL, health advocacy, employability and IT training, as well as advice and signposting for refugees and asylum seekers living in the Westgate area of Ipswich.
Following cessation of the project, fixed asset restrictions were lifted and the assets were transferred to the restricted fund at net book value.
## **Suffolk Community Foundation -MLM**
Match funding to support the organisations work in the rehabilitation of young offenders.
## **Suffolk Police & Crime Commissioner’s Fund**
To support the work of voluntary and community groups, charities, social enterprises and community interest companies that are delivering services that help support victims of crime and reduce crime and disorder.
## **Suffolk Community Foundation - Realising Ambitions 2021-2022**
Initiative brings together primary care, social services and the voluntary sector to improve health services identified by the three local alliances (East Suffolk, West Suffolk and North East Essex).
## **Suffolk Community Foundation - Suffolk Hardship Fund 2021**
To provide help and support to alleviate hardship for families and individuals. Grants awarded may be used towards the costs of food, energy, water and other essential living needs.
## **Suffolk Community Foundation -Walk and Talk 2021**
Supporting local people to improve physical health and promote tolerance and understanding between diverse communities
## **Suffolk County Council - Activities Unlimited 2021-2022**
One to one support for young people with Learning Difficulties to engage with digital media and learn new skills.
- 26 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **22 Restricted funds**
**(Continued)**
## **Ipswich Borough Council - Restart Fund 2021**
The aim of the fund is to enable voluntary, community and social enterprise organisations to restart previous activities safely and/or to support them to switch to new ways of working.
## **Ipswich Borough Council - Reviving Community Fund**
Support for small charities and social enterprises to tackle Covid related issues affecting the organisation and support re-engagement with the public.
## **Aspire-SCC/Euro**
This project delivered 6-weeks of group activities at South Street Studios in Ipswich for young people identified as being at risk of gang involvement. The main purpose of the project was to work with local schools and the county council to support young people to find alternative pathways to gang activity
## **Locality**
The locality funding went towards funding one-to-one educational and engagement sessions for young offenders in our area as an intervention activity to reduce Anti Social behaviour.
## **Equity In Mind mental Health project**
The EIM project works to support people with SMI (Serious Mental Health Illness) to promote wellbeing, tackle social isolation, develop a supportive community responsive to needs as well as promoting pathways to volunteering.
## **Peoples Health Trust**
The project delivers weekly creative and mental health workshops for young people in the deprived Maple Park area of central Ipswich. Regular social engagement forms the basis of the project which includes the following range of activities: Arts, film, photography, drama, dance, radio, music, etc.
## **Maternity inequalities programme**
The project works with a diverse group of migrant women from the Westgate Ward area of Ipswich – the most diverse ward in Suffolk and one of the most deprived wards in the country.
The aim is to build trust amongst migrant women in maternity and health services and increase connection, communication, and engagement with sources of support, therefore improving health outcomes for parents and babies.
- 27 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **23 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
Fund balances at 31 October 2022 are represented by:
Tangible assets
7,363
-
-
Investments
134
-
470,588
Current assets/(liabilities)
29,594
121,428
-
37,091
121,428
470,588|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
7,363
-
11,249
470,722
-
-
151,022
34,230
60,065
629,107
34,230
71,314|**Total**
**2021**
**£**
11,249
-
94,295|
|||105,544|
- 28 -
## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **24 Related party transactions**
## **Transactions with related parties**
During the year the charity received £57,500 (2021: £52,000) in donations from the Trustees. No conditions were attached to the donations.
The charity has also been gifted shares from a Trustee at a market value of £497,475. The gift will be used solely for the purpose of 'business development' to further the charity's objects and has been treated as an expendable endowment fund.
Expenses totalling £80 have been reimbursed to one trustee in relation to training provided (2021: £Nil).
The charity receives support from Ipswich Community Media (ICM) CIC a limited company registered in England and Wales with Company No: 9657892
ICM CIC is deemed a related party as a Director of the CIC is also a member of key management personnel of the charity.
During the year ICM CIC provided access to premises, volunteers and staff support. No cash donations were made in 21/22 although this may transpire in subsequent years. Policies and procedures are in place to ensure that the charity always operates independently of the CIC.
For the year to 31 October 2022, ICM CIC recharged costs of £14,580 (2021:£18,281) to ICM&L CIO. The expenditure was recharged at cost, with no mark-up applied.
At the year-end, ICM&L CIO owed ICM CIC £Nil (2021:£8,116).
At the year-end, ICM CIC owed ICM&L CIO £57 (2021: £Nil).
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## **IPSWICH COMMUNITY MEDIA AND LEARNING CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
|**25**
**Cash generated from operations**
**2022**
**£**
Surplus for the year
523,563
Adjustments for:
Investment income recognised in statement of financial activities
(134)
Gain on disposal of investments
(3,507)
Fair value gains and losses on investments
29,276
Depreciation and impairment of tangible fixed assets
4,603
Donation of investments
(497,475)
Movements in working capital:
Decrease/(increase) in debtors
542
(Decrease)/increase in creditors
(11,543)
(Decrease)/increase in deferred income
(20,000)
**Cash generated from operations**
25,325|**2021**
**£**
41,835
-
-
-
4,425
-
(7,983)
16,068
20,000
74,345|
|---|---|
## **26 Analysis of changes in net funds**
The charity had no debt during the year.
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