## **ROCKET COMMUNITY FOUNDATION**
**REPORT AND FINANCIAL STATEMENTS For the year ended 31.12.2023**
**Charity Number 1195281**
**ROCKET COMMUNITY FOUNDATION**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
For the year ended 31.12.2023
|**Contents**|**Page**|
|---|---|
|Trustees annual report|1 to 5|
|Independent examiners report|6|
|Statement of Financial Activities (including|7|
|income and expenditure account)||
|Balance sheet|8|
|Notes to the financial statements|9 to 16|
**ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT** For the year ended 31 December 2023
The trustees are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ended 31 December 2023.
The financial statements comply with the Charities Act 2022, the Memorandum and Articles of Association, 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 October 2019)
## **1. Objectives and Activities**
## **Aims of the Charity**
For the benefit of the public generally and, in particular, the inhabitants of Tyne and Wear and Northumberland and their surrounding areas, the objects of the charity are:
- To advance the education of children and young people through participation in sport and healthy recreation to provide opportunities for them to develop their full capacities.
- To provide and assist in providing facilities for the playing of sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances (in particular children and young people) or for the benefit of the public at large in the interests of social welfare and with the object of improving their health, wellbeing and conditions of life;
- The promotion of such other charitable purposes as may from time to time be determined by the trustees as being in fulfilment of the charity’s objects.
## **Objectives, strategies and activities for the year**
The objective for year is to:
- Commence refurbishment of the pavilion to update and make suitable for usage for playing sport and hiring out the hall to the local community.
The strategy:
- To implement a refurbishment contract for the redevelopment of the property.
## The Activities:
- Provide facilities for the Cramlington Rockets Rugby Club.
- Provide facilities to the local community to use for differing activities.
## **2. Public Benefit Statement**
Our mission is to provide a facility suitable to educate children and young people through participation in sport and healthy recreation. And provide a local amenity for use by the local community.
Our commitment to delivering public benefit is at the core of our objects and our mission for 2023 is to refurbish the pavilion to allow an up-to-date and modern facility for the local community to use for community based activities.
## **3. Policy on Grant Making**
We currently do not provide grants.
## **4. Policy on Social Investment**
The trustees know the importance of providing a facility for the local community where it can be used to strengthen people’s skills and capacities and support them to participate fully in employment and social life by allowing training, social gatherings and providing new businesses with a place to use.
1
**ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT** For the year ended 31 December 2023
## **5. Contribution by Volunteers**
The Foundation benefits significantly from voluntary work in the organisation of meetings and management of fundraising. All trustees are voluntary and provide expertise in their own field. One Trustee has construction industry experience that has enabled valuable support in the development of the pavilion.
## **6. Achievements and Performance**
## **Evaluation and outputs**
- a. A refurbishment contract for the redevelopment of the pavilion was tendered and awarded.
- b. The facility was fully refurbished and handed back to the Foundation in July.
- c. A new postcode was applied for from the Post Office.
## **7. Fundraising**
To meet the objective of the year, a number of charities had provided pledges (providing grant) to allow the Trustees to redevelop the pavilion on the recently leased land.
As we had received the Rugby League World Cup grant of £175,000, the Trustees had shown pledges for £135,000. (Total development cost of £310,000). A number of the approached charities release their pledge, and these were received in the financial period:
- a. Reece Foundation (£10,000)
- b. William Leech (£10,000)
- c. Lottery Fund (£275,000) d. Cramlington Town Council (£7,500)
- e. Northumbria Police (£5,000)
- f. Wellbank Foundation (£10,000)
- g. Freemasons (£5,000)
- h. Virgin Money (£500)
Total received in the year was **£323,000**
## **8. Investments**
None
## **9. Financial review**
## **Review of the year**
The financial review is for 12 months from 01 Jan 2023 to 31 Dec 2023.
The results for the financial period and the charity's financial position at the end of the year are shown in the attached financial statements.
During the financial period, the Charity had income of £335,008 (2022: £85,099) of which £323,000 was designated (2022: £58,500) and expenditure of £19,596 (2022: £12,053) of which £6,319 was designated (2022: £3,872). There was an operating surplus of £315,412 (2022: surplus of £73,046) of which £316,681 was designated (2022: £54,628).
At 31.12.2023, the Charity had net assets of £388,458 (2022: £73,046) of which £371,309 was designated (2022: £54,628).
2
**ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT** For the year ended 31 December 2023
## **Reserves policy/Going concern**
The Trustees consider the level of assets, £17,149 (2022: £18,418), prudent for the Charity at this time taking into account potential liabilities in the event that the charity ceased. Our Reserves Policy is reviewed annually.
## **10. Risk Management**
The trustees have a robust risk management framework and controls for the management of risks. The risk register is reviewed on a continuing basis by Trustees. Risk management is an integral part of the Foundation’s business process.
The prime risk to which the Foundation is exposed is financial in nature, particularly in respect to a loan from William Leech Trust, which was received during the financial year, as it was required to fill the gap from a number of pledges that were not forthcoming.
The Trustees have indicated a low risk for repayment as income will be generated from the new refurbished facility.
## **11. Plans for future periods**
With the pavilion now fully refurbished in the year, the Trustee plan for 2024 is to develop People Development Centre to support local school pupils.
## **12. Reference and administrative details of the charity, its trustees and advisors**
**Registered charity name** ROCKETS COMMUNITY FOUNDATION **Charity number** 1195281 **Registered office** 34 Princes Road Newcastle upon Tyne NE3 5AN **Trustees and Members of the Board** Jeff Ball (Chair) Rob Phillips Karen Clark Douglas Kay John Downes **Chief Executive and Senior staff members** Steven Beaty **Independent Examiner** Doug Maltman FMAAT Connected Voice Business Services Ltd One Strawberry Lane Newcastle upon Tyne. NE1 4BX. **Bankers** Barclays Bank
## **13. Fund held as custodian trustees on behalf of others**
The Trustees have no custodian trustees or hold property on behalf of another charity.
3
**ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT** For the year ended 31 December 2023
## **14. Exemptions from disclosures**
The Trustees hold no information that should not be disclosed and therefore there are no exemptions from disclosures.
## **15. Structure, governance and management**
Reference and administrative details of the charity, its trustees are shown in section 12.
## **Governing Document**
The Trustees are governed by the Foundation’s constitution.
## **Recruitment and Appointment of the Board**
There have been no new appointments in the year.
## **Board Induction and Training**
New Board Members are introduced to the work of the organisation and informed of their legal roles and responsibilities at an induction meeting. The induction and training programme for new Board Members includes:
- A briefing by the Chair
- An explanation of roles and responsibilities as a Board Member
- Copies of the main charity documents including the Memorandum and Articles of Association and the Financial Statements
- Copy of the business plan and most recent evaluation report
- Copies of recent board papers including budgets and management accounts
- A copy of the Charity Commission publication "How to be an Effective Trustee"
- A copy of the governance structure.
## **16. Related parties**
The Trustees have no relationship with related parties and other charities with which it co-operates in the pursuit of its charitable objectives.
4
**ROCKETS COMMUNITY FOUNDATION TRUSTEES ANNUAL REPORT** For the year ended 31 December 2023
## **17. Statement of Trustee Responsibilities**
The trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity SORP requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of incoming resources and application of resources, including the receipts and payments of the charity for that year. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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 the Trustees on 14.10.2024 and signed on their behalf by:
Jeff Ball Chair
5
## **ROCKET COMMUNITY FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
For the year ended 31.12.2023
I report on the financial statements of Rocket Community Foundation for the year ended 31.12.2023, which are set out on pages 7 to 16.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 ("the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- h examine the accounts under section 145 of the Charities Act,
- h to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- h to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- h the accounting records were not kept in accordance with section 130 of the Charities Act; or
- h the accounts did not accord with the accounting records; or
- h the accounts did 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�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.
Doug Maltman FMAAT Fellow member of the Association of Accountancy Technicians Connected Voice Charity Business Services One Strawberry Lane Newcastle upon Tyne NE1 4BX Date: 14.10.2024
6
## **ROCKET COMMUNITY FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
For the year ended 31.12.2023
**----- Start of picture text -----**
Unrestricted Designated Total Total
For the
period
23.07.2021
to
Funds Funds 2023 31.12.2022
£ £ £ £
Income from:
Donations and legacies 6 7,665 - 7,665 15,076
Charitable activities
Grants and contracts 7 1,100 323,000 324,100 67,783
Other trading activities 8 3,243 - 3,243 2,240
Total income 12,008 323,000 335,008 85,099
Expenditure on:
Charitable activities
Operation of the charity 9 13,277 6,319 19,596 12,053
Total expenditure 13,277 6,319 19,596 12,053
Net movement of funds ( 1,269 ) 316,681 315,412 73,046
Reconciliation of funds
Total funds brought forward 18,418 54,628 73,046 -
Total funds carried forward 17,149 371,309 388,458 73,046
Notes
**----- End of picture text -----**
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 9 to 16 form an integral part of these accounts.
7
Charity Number 1195281
## **ROCKET COMMUNITY FOUNDATION**
## **BALANCE SHEET**
As at 31.12.2022
|**Fixed assets**
Tangible assets
15
**_Total fixed assets_**
**Current assets**
Debtors
16
Cash at bank and in hand
17
**_Total current assets_**
**Creditors:**amounts falling due within
one year
18
**_Net current assets_**
**_Total assets less current liabilities_**
**Creditors:**amounts falling due after
more than one year
19
**_Total net assets or liabilities_**
**Funds of the charity**
Unrestricted income funds
Restricted income funds
**_Total funds_**
Notes|**£**
13,750
18,674
**32,424**
**( 10,076 )**
**( 49,500 )**|**Total**
**2023**
**£**
415,610
**415,610**
**22,348**
**437,958**
**( 49,500 )**
**388,458**
371,309
17,149
**388,458**|**£**
-
17,743
**17,743**
**( 772 )**
**-**|**Total**
**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
56,075
**56,075**
**16,971**
**73,046**
**-**
**73,046**
18,418
54,628
**73,046**|
|---|---|---|---|---|
The notes on pages 9 to 16 form an integral part of these accounts.
These financial statements were approved by the Board on: 14.10.2024 and are signed on its behalf by: Jeff Ball Chair
8
## **ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## 1 **Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## 2 **Basis of accounting**
## 2.1 **Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2022.
Rocket Community Foundation meets the definition of a public benefit entity under FRS 102.
## 2.2 **Preparation of the accounts on a going concern basis**
The charity reported total unrestricted funds at the year end of- £1,269 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.
## 3 **Income**
## 3.1 **Recognition of income**
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
## 3.2 **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
## 3.3 **Grants and donations**
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
## 3.4 **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 bank.
9
## **ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## 3.5 **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the
## 4 **Expenditure and liabilities**
## 4.1 **Liability recognition**
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## 4.2 **Charitable activities**
Expenditure on charitable activities includes the costs of work and other activities undertaken to further the purposes of the charity and their associated support costs.
## 4.3 **Governance and support costs**
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
## 4.4 **Irrecoverable VAT**
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## 4.5 **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## 4.6 **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## 5 **Assets**
## 5.1 **Tangible fixed assets for use by the charity**
Individual fixed assets costing are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis.
Refurbishment and Development Fixtures and fittings
Straight line over life of lease Straight line over four years
10
## **ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## **Analysis of income**
|6
7
8|**Donations and legacies**
**Charitable activities**
Income from grants
Wellbank Foundation
**Other trading activities**
Café takings
Interest earned
Ward Hadaway
Ridley Family Trust
Freemasons of Northumberland
The Rothley Trust
Donations and gifts
Room hire
Northumberland County Council
Other grants
Sir James Knott Trust
NCT Grant
Virgin Money
Lottery Fund
Reece Group
Brewin Dolphin
The William Leech Charity
Cramlington Town centre
Northumbria Police|Unrestricted
Funds
£
7,665
7,665
-
-
-
-
-
-
-
-
-
-
1,100
-
-
-
-
-
1,100
2,748
400
95
3,243|Designated
Funds
£
-
-
-
-
5,000
-
10,000
-
-
-
275,000
10,000
-
10,000
7,500
5,000
500
-
323,000
-
-
-
-|**Total**
**2023**
**£**
**7,665**
**7,665**
**-**
**-**
**5,000**
**-**
**10,000**
**-**
**-**
**-**
**275,000**
**10,000**
**1,100**
**10,000**
**7,500**
**5,000**
**500**
**-**
**324,100**
**2,748**
**400**
**95**
**3,243**|**Total**
**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
**15,076**
**15,076**
**500**
**5,000**
**10,000**
**3,000**
**10,000**
**15,000**
**15,000**
**500**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**8,783**
**67,783**
**2,240**
**800**
**190**
**3,230**|
|---|---|---|---|---|---|
Income was £335,008 (2022: £85,099) of which £323,000 was designated (2022: £58,500).
11
## **ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## **Analysis of expenditure on charitable activities**
|9
10|**_Charitable activities_**
Support costs
Governance costs
Insurance
Eastfield staff costs
Premises costs
IT costs
**Fees for examination of the accounts**
Independent examiner's fees for reporting on the
Equipment
Independent examiner's fees for reporting on
the accounts
Repairs and renewals
Legal fees
Professional fees
Other expenses
Bank charges
Depreciation
Expenditure on charitable activities was £19,596
£3,872).
There were no other fees paid to the examiner.|Unrestricted
Designated
**Total**
**Total**
Funds
Funds
**2023**
**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
£
£
**£**
**£**
9,600
-
**9,600**
**690**
603
-
**603**
**473**
45
-
**45**
**60**
-
-
**-**
**624**
150
-
**150**
**967**
-
-
**-**
**4,140**
-
-
**-**
**50**
1,719
-
**1,719**
**-**
635
6,319
**6,954**
**4,493**
-
-
**-**
**40**
516
-
**516**
**516**
9
-
**9**
**-**
13,277
6,319
**19,596**
**12,053**
**2023**
**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
**£**
**516**
**516**
**516**
**516**
accounts
(2022: £12,053) of which £6,319 was designated (2022:|
|---|---|---|
## 10 **Fees for examination of the accounts**
12
**ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## 11 **Analysis of staff costs and the cost of key management personnel**
|Salaries and wages|**2023**
**£**
**9,600**
**9,600**|**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
**690**
**690**|
|---|---|---|
No employee received remuneration above £60,000
The key management personnel of the charity, comprise the trustees. . The total employee benefits of the key management personnel of the charity were £0.
## 12 **Staff numbers**
The average monthly head count was 2 (2022: 1 staff) staff and the average monthly number of full-time equivalent employees during the year were as follows:
|Caretaker
The parts of the charity in which the employee's work
Facilities Manager|**2023**
**Number**
**0.4**
**0.2**
**0.6**|**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**Number**
**0.0**
**1.0**
**1.0**|
|---|---|---|
## 13 **Transactions with trustees**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
## **Trustees' expenses**
No trustee expenses have been incurred in the year.
## **Transaction(s) with related parties**
There have been no related party transactions in the reporting period.
## 14 **Corporation 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 objectives.
13
## **ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
|**Refurbishment**
**and**
15 **Tangible fixed assets**
**Development**
**£**
**Cost**
Balance brought forward
58,085
Additions
366,430
Disposals
-
**Balance carried forward**
424,515
**Depreciation**
Basis
SL
Rate
15 years
Balance brought forward
3,872
Depreciation charge for year
6,319
Disposals
-
**Balance carried forward**
10,191
**Net book value**
**Brought forward**
54,213
**Carried forward**
414,324
16 **Debtors and prepayments (receivable within 1 year)**
**2023**
**£**
**13,750**
**13,750**
17
**2023**
**£**
Cash at bank and in hand
**18,674**
**18,674**
Other debtors
**Cash at bank and in hand**|
**Fixture,**
**fittings and**
**equipment**
**£**
2,483
59
-
2,542
SL
25%
621
635
-
1,256
1,862
1,286
For the
period
23.07.2021
to
31.12.2022
£
-
-
**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
**17,743**
**17,743**|**Total**
**£**
**60,568**
**366,489**
**-**
**427,057**
**4,493**
**6,954**
**-**
**11,447**
**56,075**
**415,610**|
|---|---|---|
14
**ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## 18 **Creditors and accruals (payable within 1 year)**
|19
Accruals
Loan
Independent examination of accounts
Other creditors
**Creditors and accruals (payable after more than 1 year)**
Long Term Loan|**2023**
**£**
**516**
**5,500**
**4,060**
**10,076**
**2023**
**£**
**49,500**
**49,500**|**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
**516**
**-**
**256**
**772**
For the
period
23.07.2021
to
31.12.2022
£
-
-|
|---|---|---|
## 20 **Events after the end of the reporting period**
No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
## 21 **Analysis of charitable funds**
**Analysis of movements in unrestricted funds For the year ended 31 12.2023**
|**Unrestricted funds**
General unrestricted fund
Designated funds
Refurbishment
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
18,418
54,628
73,046|**Incoming**
**resources**
£
12,008
323,000
335,008|**Resources**
**expended**
£
( 13,277 )
( 6,319 )
( 19,596 )|**Transfers**
£
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**
**17,149**
**371,309**
**388,458**|
|---|---|---|---|---|---|
15
**ROCKET COMMUNITY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31.12.2023
## **Analysis of movements in unrestricted funds**
## **For the year ended 31.12.2022**
|**Unrestricted funds**
General unrestricted fund
Designated funds
Refurbishment
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
-
-
-|**Incoming**
**resources**
£
26,599
58,500
85,099|**Resources**
**expended**
£
( 8,181 )
( 3,872 )
( 12,053 )|**Transfers**
£
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**
**18,418**
**54,628**
**73,046**|
|---|---|---|---|---|---|
## **Purpose of unrestricted funds**
General unrestricted fund The 'free reserves' of the charity Designated funds: Refurbishment Refurbishment and development funds to cover costs.
## 22 **Capital commitments**
As at 31.12.2022, the charity had no capital commitments.
## 23 **Analysis of net assets between funds**
|Other net current assets/(liabilities)
Cash at bank and in hand
Tangible fixed assets|Unrestricted
Funds
£
415,610
( 352,635 )
( 45,826 )
( 32,351 )|Designated
Funds
£
-
371,309
-
371,309|**Total**
**2023**
**£**
**415,610**
**18,674**
**( 45,826 )**
**338,958**|**Total**
**For the**
**period**
**23.07.2021**
**to**
**31.12.2022**
**£**
**56,075**
**17,743**
**( 772 )**
**23,546**|
|---|---|---|---|---|
16