Charity number: 1189248
SPACE2GROW
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
SPACE2GROW
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
SPACE2GROW
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | J M Negus |
|---|---|
| N J Chinn | |
| N Green | |
| M James | |
| K Chernyshov | |
| J Goddard (appointed 30 May 2024) | |
| Charity registered number 1189248 Principal office The Old Vicarage Vicarage Lane Farnham GU9 7PR Independent Examiner Nick Weller FCCA Simmons Gainsford Professional Services Limited Chartered Accountants 14th Floor 33 Cavendish Square London W1G 0PW |
Page 1
SPACE2GROW
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Space2Grow for the 1 April 2023 to 31 March 2024.
Objectives and activities
a. Policies and objectives
The purpose of the charity is as follows:
-
l. The provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
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The advancement of horticultural, healthy eating education for improving individuals condition of life and improvement of wildlife diversification in and around the land on which the charity operates.
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)'.
Achievements and performance
a. Main achievements of the Charity
The Charity continued to deliver it's wellbeing activities for the local community. The Charity worked with local primary schools to devise and launch ‘space2play’, it's forest school style stay and play for children aged 2-4 helping prepare them for starting their school journey. The wellbeing for teens groups continued to provide support for students struggling with EBSNA (Emotionally Based School Non Attendance). Space2Grow delivered free summer holiday clubs for local disadvantaged families and delivered nature based workshop activities for local primary school children. The Charity delivered accredited parenting classes, helping to support local families. The garden was maintained and developed by the garden volunteer group and Men in Sheds delivered many woodworking projects for the local community.
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.
b. Reserves policy
The reserves policy of the charity is based on the charities objectives to achieve a margin of working capital sufficient to enable all aspects of the charities work to be conducted in an orderly and efficient manner.
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SPACE2GROW
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
a. Constitution
Space2Grow is a registered Charitable Incorporated Organisation, number 1189248, 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. Trustees are appointed by seconded agreement of existing trustees.
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;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
N Green Trustee Date: 24/1/2025 | 10:09 GMT
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SPACE2GROW
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the Trustees of Space2Grow ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
Signed: Dated: 24/1/2025 | 10:09 GMT Nick Weller FCCA Simmons Gainsford Professional Services Limited Chartered Accountants 14th Floor 33 Cavendish Square London W1G 0PW
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SPACE2GROW
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 43,820 - 43,820 52,803 52,803 (8,983) 6,400 (2,583) 15,880 (2,583) 13,297 |
Unrestricted funds 2024 £ 27,332 102 27,434 5,065 5,065 22,369 (6,400) 15,969 5,060 15,969 21,029 |
Total funds 2024 £ 71,152 102 71,254 57,868 57,868 13,386 - 13,386 20,940 13,386 34,326 |
Total funds 2023 £ 37,305 - 37,305 |
|---|---|---|---|---|
| 35,023 35,023 |
||||
| 2,282 - 2,282 |
||||
| 18,658 2,282 20,940 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 13 form part of these financial statements.
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SPACE2GROW
BALANCE SHEET AS AT 31 MARCH 2024
| Note Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
26,841 26,841 (240) |
2024 £ 7,725 7,725 26,601 34,326 13,297 21,029 34,326 |
12,777 12,777 (490) |
2023 £ 8,653 |
|---|---|---|---|---|
| 8,653 12,287 |
||||
| 20,940 | ||||
| 15,880 5,060 |
||||
| 20,940 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
24/1/2025 | 10:09 GMT
N Green
Trustee Date:
The notes on pages 7 to 13 form part of these financial statements.
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. General information
Space2Grow is a registered Charitable Incorporated Organisation, charity registration number 1189248. The address of the registered office is The Old Vicarage, Vicarage Lane, Farnham, GU9 7PR.
2. Accounting policies
2.1 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).
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.
Space2Grow 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.
2.2 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.
2.3 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 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.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Recreation and Leisure Assets
20%
2.6 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.
2.7 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.
2.8 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.
2.9 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. Income from donations and legacies
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Donations | 43,820 | 27,332 | 71,152 | 37,305 |
4. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Interest receivable | 102 | 102 | - |
5. Analysis of expenditure on charitable activities Summary by fund type
| Charitable activites Analysis of expenditure by activities Charitable activities |
Restricted funds 2024 Unrestricted funds 2024 £ £ 52,803 5,065 Activities undertaken directly 2024 Support costs 2024 £ £ 44,192 13,676 |
Total 2024 £ 57,868 Total funds 2024 £ 57,868 |
Total 2023 £ 35,023 |
|---|---|---|---|
| Total funds 2023 £ 35,023 |
6. Analysis of expenditure by activities
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Supplies and materials Events and courses Depreciation |
Activities 2024 £ 8,809 33,652 1,731 44,192 |
Total funds 2024 £ 8,809 33,652 1,731 44,192 |
Total funds 2023 £ 14,915 7,717 613 23,245 |
|---|---|---|---|
Analysis of support costs
| Activities 2024 £ Light and heat 718 Insurance 707 Office administration 10,752 Staff training 222 Cleaning 180 DBS - Water - Computer costs 1,008 Bank charges 99 Accountancy fees (10) 13,676 7. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
Total funds 2024 £ 718 707 10,752 222 180 - - 1,008 99 (10) 13,676 2024 £ 240 |
Total funds 2023 £ 1,184 621 7,886 396 48 264 83 694 62 540 11,778 |
|---|---|---|
| 2023 £ 240 |
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Employees
The average number of employees, including the Trustees, during the year was 5 (2023: 5).
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
10. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 11. Creditors: Amounts falling due within one year 2024 £ Accruals and deferred income 240 |
Recreation and Leisure Assets £ 10,990 803 |
|---|---|
| 11,793 | |
| 2,337 1,731 |
|
| 4,068 | |
| 7,725 | |
| 8,653 | |
| 2023 £ 490 |
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
12. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 April 2023 £ 5,060 15,880 20,940 Balance at 1 April 2022 £ 6,686 11,972 18,658 |
Income £ 27,434 43,820 71,254 Income £ 2,607 34,698 37,305 |
Expenditure £ (5,065) (52,803) (57,868) Expenditure £ (1,858) (33,165) (35,023) |
Transfers in/out £ (6,400) 6,400 - Transfers in/out £ (2,375) 2,375 - |
Balance at 31 March 2024 £ 21,029 13,297 34,326 |
|---|---|---|---|---|---|
| Balance at 31 March 2023 £ 5,060 15,880 20,940 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
Unrestricted Funds
The unrestricted funds are used to support Space2Grow in meetings its aims and objectives.
Restricted Funds
The restricted funds relate to projects undertaken by the charity to meet its aim and objectives whereby Space2Grow requests donations from the local community and beyond for that particular project. A proportion of support costs are allocated to the restricted fund each year. A major project this year was the purchase of a new greenhouse.
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SPACE2GROW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2024 Unrestricted funds 2024 £ £ 7,725 - 5,712 21,129 (140) (100) 13,297 21,029 |
Total funds 2024 £ 7,725 26,841 (240) 34,326 |
|---|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2023 Unrestricted funds 2023 £ £ 8,653 - 7,367 5,410 (140) (350) 15,880 5,060 |
Total funds 2023 £ 8,653 12,777 (490) 20,940 |
|---|---|---|
14. Related party transactions
During the period the charity received donations of £12,000 (2023: Nil) from a Trustee.
Page 13