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2023-03-31-accounts

Charity registration number 1186158

THINK18

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

THINK18

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees T Denison
J P Kavanagh
H L Jellard
R Deans
R Adams (Appointed 13 June 2022)
Charity number 1186158
Principal address 2 Home Farm Court
Shillinglee
Godalming
Surrey
GU8 4SY
Independent examiner Jordan Abbott BSc ACA
Carpenter Box Jones Avens
Piper House 4 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX

THINK18

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 20

THINK18

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

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 constitution (adopted 31 August 2019, revised July 2021), 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

THINK18 is the concept of Teresa (Tessa) Denison. Tessa’s daughter Rosie, who has Down Syndrome, and her friends are reaching a stage in their lives where they are seeking to build a wide range of experiences and create new friendships.

The purpose of THINK18 is to relieve the needs and promote the social inclusion of young people and adults (aged 16-35) with learning disabilities, in such ways as the Trustees shall think fit and promote the social inclusion of such young adults who are socially excluded as a result of their age and learning disability, in particular but not exclusively by offering advice, support and opportunities for social interaction, recreational and other activities designed to promote their independence, improve their conditions of life and prevent them from becoming socially excluded.

The values at the heart of everything we do are: putting young people first; inclusion; creativity; respect; networking; integrity

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Executive Summary

This report covers the period 1st June 2022 to 31th July 2023.

THINK18 aims to provide benefit to young people with learning disabilities in, primarily West Sussex but not excluding other UK young adults: enabling young people with learning disabilities to transition to adulthood with the help of targeted activities. Our key objective is to relieve the needs and promote the social inclusion of young adults (aged 16-35) with learning disabilities.

Our values are at the heart of everything we do: putting young people first; inclusion; creativity; respect; networking; integrity.

The Charity is governed by the Board of Trustees, supported by committees and working groups. We do not employ staff but use a wide range of independent contractors to deliver services and provide administration support. We also have a growing number of volunteers. Trustees, volunteers and independent contractors are DBS screened and have completed safeguarding and first aid training where required.

Our accounting balance at 31/07/2023 is £81,156 (£12,370 restricted funds, £68,786 unrestricted funds). Our reserves policy requires that we retain sufficient reserve funds to run for 6 months, and currently £38,500 is kept in reserve to reflect this.

During the period, THINK18 has seen continued rapidly. We now have 99 members and offering 7 online activities and 1 in person activity every week, as well as THINKOUT 3 days per week, and other events for young adults with learning disabilities, their carers and families.

THINK18

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

At the time of this report, Trustees are working with a new provider for the activities provided through the THINKOUT project. It is expected the transition will be complete by September 2023. This will lead to a significant adjustment to the charity’s activities and subsequent reduction in operating income and expenditure.

Footnote: Since September 2023 the ThinkOut project is no longer linked with THINK18 in any way and is no longer part of THINK18’s portfolio. It has been rebranded as TOC, which is its own independent Community Interest Company. (ThinkOut was being led by Hilary Freeborough, who at the time was a Trustee for THINK18. Hilary decided to break away from THINK18 in July 2023, taking the ThinkOut project with her and at the same time resigning her Trustee position with THINK18.)

Consequently, THINK18 will see a reduction in operating income/expenditure, as this project reflected approximately 72% of the income for the year 22-23.

For the future, we have identified the following priorities to develop THINK18 as a Charitable Incorporated Organisation (CIO) and strengthen our ability to deliver our objectives:

Aims

THINK18 has grown and developed significantly since its first activities in October 2019, establishing networks with young adults, their families and friends, local schools and colleges, and other organisations and providers to offer high quality, consistent opportunities for social interaction, learning and fun.

Beneficiaries: At July 2023 THINK18 had 99 young adult members with moderate to severe learning disabilities.

Activities

In Person Social Activities

THINK18 began with the aim to offer social activities using local premises. We have since worked with an experienced charity The halow Project to deliver a monthly Thursday club and to support us in our early development. Since May 2020, initiated as result of Covid-19 we have been offering our ZOOM activities. Our weekly Saturday morning face to face activities include sports activities, drama, music, art and sports enabling us to currently accommodate 28-30 participants weekly.

https://www.think18.org.uk/sat-activities/

We also arrange regular Pub Nights, Cinema and Theatre trips, workshops, alongside Summer camping and various sport, art and music activities throughout the summer. We have introduced our young adults to new experiences including basketball, judo, dance workshops and performance workshops.

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

THINK18

THINKZOOM

At Home began in April 2020 as a response to the COVID 19 restrictions. From April 2021, 7 sessions per week are held online using Zoom - around 300 sessions in total during this past year.

https://www.think18.org.uk/online-activites/

A growing list of activities are held online, working with accredited teachers:

THINKDRAMA, THINKDANCE, THINKART, VIRTUAL DRINKS, THINKSING, THINKDRUM, THINKHEALTH, THINKSPORT, THINKYOGA and THINKMUSIC . Our online activities are very popular, with 12-28 participants at each session, and at times significantly more -

“I have really enjoyed Think Drama, Think Dance and the drinks evening. it has helped me so much in the lockdown and it has helped me to gain confidence in myself. I have also enjoyed meeting new people. Think Dance has given me so much confidence in my dancing and Think Drama has helped me to get into character.The Drinks evening is amazing and I can dress up and show off my outfits and show my talents.” THINK18 member

Family events : THINK18 offer ‘unsupported’ events throughout the year, attended by young adults with parents/ carers, other family members and friends.

2023 we have built new relationships with third party providers who run some engaging activities. Jan – April a local sports company introduced some basketball sessions in Jan/Feb 23. We ran a feltmaking day in Feb with a local arts provider, introduced a ‘Soundbath’ into our activities, invited Stopgap Dance to run a workshop at Chichester Uni and took a coach of young adults to Paultons Park. During the following months we gave our young adults the opportunity to play in a rock band, hosted a family picnic with karaoke and games, practiced storey massage, we joined forces with halow to run a sports afternoon and went to an interactive theatre trip involving puppets and mythological beasts. Recently we have run a hugely successful 3 day camping weekend for young adults and their parents with over 80 people attending and 8+ volunteers and taken families and young adults to ‘The Sound of Music’.

THINKOUT: THINKOUT is all about living, learning and working in the community, offering young adults the chance to identify hopes and dreams, and take steps towards them through volunteering, work experience and apprenticeships. THINKOUT was established in September 2021, opening 1 day per week for 15 participants. From January 2022, THINKOUT grew to offer 3 days per week, which has continued successfully throughout the remaining period of this report.

THINKOUT is commissioned by West Sussex County Council as an Alternative Provider.

At the time of this report, Trustees are working with a new provider for the activities provided through the THINKOUT project. It is expected the transition will be complete by September 2023. This will lead to a significant adjustment to the charity’s activities and subsequent reduction in operating income and expenditure.

Other Activities :

We ran, in 2023, an introduction to Adaptive Judo for learning disabilities with the British Judo Team. We also put on a performance of ‘The Little Mermaid’ with our newly collaborated ‘Holly King Performance Academy’.

THINK18

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Volunteers

As well as paying contractors to support THINK18’s work (e.g. tutoring for At Home, managing and delivering THINKOUT, administration and operations), THINK18 depends on a team of volunteers who operate at all levels of the organisation.

Tessa, the founder and trustee, volunteers full time as Think18 Co-ordinator, and other trustees are also actively involved in the running of THINK18. In addition volunteers help with marketing and social media, administration and direct delivery support (9-10 volunteers currently contribute a total of 17-20 hours per week to support At Home and Saturday Club activities). We have a rota for our Saturday Activities involving over 12 volunteers who give support on a monthly basis. This is made up of parents with the lived experience and additional people who would like to help make a difference in our community.

We estimate that our average contribution from volunteers is 69hrs per week: 38hrs Charity co-ordinator (Tessa); 12.5hrs from Trustees in a range of roles; 18.5 hrs volunteers supporting delivery of activities.

Policies and Procedures

THINK18 has core policies and procedures in place and revises them regularly (dates in brackets are when each was last reviewed):

Financial review

THINK18 work is funded through fundraising, grants and donations both from individuals and organisations.

This our fourth set of accounts covers the period 1st April 2022 to Mar 31st 2023. During this period we received £29,000 in restricted and unrestricted grants. From Apr-June we raised a further £2,500 in restricted/unrestricted funds for THINKI8 projects and administration.

Our accounting balance at the end of the accounting year 31/03/2023 was £79,129 (£13,653 restricted funds, £65,476 unrestricted funds).

Our accounting balance at 31/07/2023 is £81,156 (£12,370 restricted funds, £68,786 unrestricted funds). Our reserves policy requires that we retain sufficient reserve funds to run for 6 months, and currently £38,500 is kept in reserve to reflect this.

THINK18

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Our accounting balance at the end of the accounting year 31/03/2022 was £82,655 (£36,216 restricted funds, £46,439 unrestricted funds).

Our accounting balance at 30/06/2022 is £78,360 (£21,958 restricted funds, £56,402 unrestricted funds). Our reserves policy requires that we retain sufficient reserve funds to run for 6 months, and currently £38,500 is kept in reserve to reflect this.

Trading and Tax:

THINK18 is aware of the Charity Commission guidance: ‘Trustee trading and tax: how charities may lawfully trade’. THINK18 will only trade in pursuit of its charitable objectives. The Trust acknowledges restrictions on engaging in trades and will not engage in such commercially- oriented trades where a significant risk to its assets would be involved.

THINK18 will not undertake any activities that may be subject to income tax, only undertaking activities that fall into one of the following charity law categories:

THINK18 is not registered for VAT with HMRC as cash flow is currently below the threshold for registration.

Structure, governance and management

THINK18 is a Charitable Incorporated Organisation. We have a constitution and are governed by a Board of Trustees, supported by working groups. Trustees oversee and monitor fundraising activities and use of funds to deliver the objects of the charity; managing any associated risks and following the Charity Commission’s guidance on Public Benefit.

The trustees who served during the year and up to the date of signature of the financial statements were: The trustees who served during the year and up to the date of signature of the financial statements were:
T Denison
J P Kavanagh
H A Freeborough (Resigned 24 July 2023)
H L Jellard
J A Denison (Retired 31 March 2023)
R Deans
R Adams (Appointed 13 June 2022)

The initial trustees were found and selected by the founder Teresa Denison, appointed in April 2019 and agreed in the constitution of August 2019. Additional Trustees have been sought to further the knowledge and expertise of THINK18 in meeting our needs as the charity has grown. Recruitment is through public advertisements, volunteering organisations, word of mouth, and selection interview.

New Trustees receive the Trustee Handbook, the Constitution, Trustees’ Annual Report & Financial Statements, policies, and recent Trustees’ meeting minutes.

Tessa Denison stood down as Chair of the Board of Trustees in March 2023 and Robert Deans was voted in by Trustees as the new Chair at the same time.

THINK18

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Working Groups:

Working groups are set up as needed to support activities - e.g. fundraising, volunteer recruitment and management, policies and procedures, development/delivery of THINK18 activities

Delegated Responsibilities:

THINK18 does not employ staff. However, we use a range of independent contractors to provide services for our young adult members and for administration support. In addition, we directly recruit and support a growing number of volunteers.

Trustees, volunteers and independent contractors are DBS screened and have completed safeguarding and first aid training where required.

The trustees' report was approved by the Board of Trustees.

.............................. R Deans Chair

8th January 2024 Date: .............................................

THINK18

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THINK18

I report to the trustees on my examination of the financial statements of THINK18 (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 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

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:

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.

Jordan Abbott BSc ACA

Carpenter Box Jones Avens Piper House 4 Dukes Court Bognor Road Chichester West Sussex PO19 8FX

Dated: .........................

Carpenter Box Jones Avens is the trading name of Jones Avens Limited

THINK18

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
3
19,932
29,000
Charitable activities
4
97,728
-
Total income
117,660
29,000
Expenditure on:
Charitable activities
5
98,623
51,563
Net income/(expenditure)
for the year/
Net movement in funds
19,037
(22,563)
Fund balances at 1 April
2022
46,439
36,216
Fund balances at 31
March 2023
65,476
13,653		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
48,932
40,828
58,840
97,728
33,708
-
146,660
74,536
58,840
150,186
53,827
36,094
(3,526)
20,709
22,746
82,655
25,730
13,470
79,129
46,439
36,216		 Total
2022
£
99,668
33,708
133,376
89,921
43,455
39,200
82,655

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THINK18

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
13
Unrestricted funds		 2023
£
1,270
77,340
78,610
(2,392)		 2022
£
£
2,911
1,980
86,847
88,827
(11,995)
76,218
79,129
13,653
65,476
79,129		 £
5,823
76,832
82,655
36,216
46,439
82,655

The financial statements were approved by the Trustees on .........................

.............................. R Deans

Trustee

THINK18

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

THINK18 is a Charitable Incorporated Organisation (CIO) registered in England and Wales (number 1186158).

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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.

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.

THINK18

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 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 are allocated on the portion of the asset’s use.

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:

Computers 3 years straight line

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 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).

1.8 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.

1.9 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.

THINK18

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

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.

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.

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THINK18

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

2023 2022
£ £
Membership Contributions towards Activities 97,728 33,708

Charitable trading income

5 Charitable activities

Depreciation and impairment
Charitable expenditure general
Activity Leaders, Instructors and Support Team
Think Out Charitable Expenditure
Young adults events
Rent and venue hire
Think Out Leaders, Instructors and Support Team
Share of support costs (see note 6)
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
2,913
15,537
6,941
22,656
2,238
9,638
51,395
111,318
15,221
23,647
150,186
98,623
51,563
150,186		 2022
£
2,912
5,823
6,184
25,658
3,115
5,690
8,788
58,170
30,201
1,550
89,921
53,827
36,094
89,921

THINK18

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Support costs

Support costs
Support
costs
Governance
costs
£
£
Marketing/publicity
-
-
Fundraising expenses
1,508
-
Administrative fees
2,399
21,587
Office and administration
7,938
-
Volunteer and travel
2,784
-
Sundry
592
-
Accountancy
-
2,060
15,221
23,647
Analysed between
Charitable activities
15,221
23,647		 2023
Support
costs
Governance
costs
£
£
£
-
564
-
1,508
1,037
-
23,986
20,445
-
7,938
5,547
-
2,784
2,211
-
592
397
-
2,060
-
1,550
38,868
30,201
1,550
38,868
30,201
1,550		 2022
£
564
1,037
20,445
5,547
2,211
397
1,550
31,751
31,751

Governance costs includes payments to the accountants of £650 (2022- £650) for an independent examination and £900 (2022- £900) for other services.

7 Trustees

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 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 Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THINK18

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10
Tangible fixed assets
Cost
At 1 April 2022
At 31 March 2023
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
11
Debtors
Amounts falling due within one year:
Trade debtors
12
Creditors: amounts falling due within one year
Accruals and deferred income		 Computers
£
8,735
8,735
2,912
2,912
5,824
2,911
5,823
2023
2022
£
£
1,270
1,980
2023
2022
£
£
2,392
11,995		 Computers
£
8,735
8,735
2,912
2,912
5,824
2,911
5,823
2023
2022
£
£
1,270
1,980
2023
2022
£
£
2,392
11,995
8,735
2,912
2,912
5,824
2,911
5,823
2022
£
1,980
2022
£
11,995

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THINK18

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
2,911
-
Current assets/(liabilities)
62,563
13,655
65,474
13,655		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
2,911
5,823
-
76,218
40,616
36,216
79,129
46,439
36,216		 Total
2022
£
5,823
76,832
82,655

15 Related party transactions

16 After date events

Since September 2023 the ThinkOut project is no longer linked with THINK18 in any way and is no longer part of THINK18’s portfolio. Consequently, THINK18 will see a reduction in operating income/expenditure following the year end, as this project reflected approximately 72% of the income for the year 22-23.