# **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) **CHARITY REGISTRATION No: 1195811** Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **CONTENTS** |Page 3|Legal & Administrative Information| |---|---| |Pages 4 to 17|Trustees' Report| |Page 18|Statement of Financial Activities| |Page 19|Balance Sheet| |Pages 20 to 29|Notes to the Financial Statements| |Page 30|Independent Examiner's Report| 2 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **LEGAL AND ADMINISTRATIVE INFORMATION** **CHARITY NUMBER** 1195811 **DATE OF REGISTRATION** 14th September 2021 **START OF FINANCIAL YEAR** 1st April 2023 **END OF FINANCIAL YEAR** 31st March 2024 **TRUSTEES AT 31ST MARCH 2024** Wendy Solesbury MBE Bruce Goodison Mohamed Al-Kaisi Toby Jones Rebecca Machado CA Fatimah Olamide Adesanya (Appointed 5th June 2023) **LEGAL STATUS** Charitable Incorporated Organisation ## **GOVERNING INSTRUMENT** CIO - Association Registered 14th September 2021 ## **OBJECTS** The promotion of social inclusion for the public benefit among children and young people who are refugees and asylum seekers who are socially excluded on the grounds of their social and economic position and assisting them to integrate into society by: **a** ) Providing education and training in the English language. **b** ) Providing access and opportunities to the Arts in particular but not limited to theatre projects, Art based professional development and drama workshops. **c** ) Raising public awareness of the lived experiences and issues faced by refugees and those seeking asylum by presenting works of performing Arts. ## **CORRESPONDENCE ADDRESS** ## **PRIMARY BANKERS** ## **INDEPENDENT EXAMINERS** London Borough of Lambeth 3 Space International House 6 Canterbury Crescent London SW9 7QE National Westminster Bank Plc Sydenham Branch 61 Sydenham Road London SE22 5HA Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ 3 OMPAS5 OIIICTIVI ,ANNUAL REPORT 2023 nufflbw.. 1195811 Introduction Firstly, we would like to thank you all for taking the time to read this report and to join with us in celebrating the wonderful achievements of Compass Collective. 2023 has seen us grow our work and increase our reach as you will see the team have delivered, through these challenging times some outstanding projects and programmes. We have also welcomed new trustees and staff as the charity develops. We have, in our second year as a charity celebrated so many achievements and one of the many highlights has been expanding our work across the UK and internationally. We have also seen our second cohort from the Next Steps programme graduate culminating in an amazing performance. We have worked alongside some exceptional partners to deliver exciting workshops and deliver some exceptional and wonderful creative projects. Our Connect English programme has been a huge success, and we continue to have a waiting list for people who wish to join. Young people are at the heart of all we do, and it is vitally important that their voice is notjust heard but listened to and acted on in light of this,C we have recruited our Youth board and are really pleased to have them as part of the team. The young people that join Compass Collective really do achieve some amazing things and it has been inspirational to see how they welcome us on thatjourney with them and are willing to share their achievements with us. This wonderful, dedicated team works incredibly hard to deliver activities that are dynamic, adaptable and provide a platform for young people to share their voice through the arts and to thrive. They offer a safe, supportive and inclusive environment with welfare support that gives young people the opportunity to make friends, have fun and in the process, build new skills. On behalf of the trustees and management team, we would like to thank the wonderful team, all our incredible volunteers, funders and partners and alL of you that continue to support us in achieving our mission. But mostly I would like to thank the young people for sharing your time with us and inspiring us to continue thejourney. Wendy Solesbury MBE (Chair of trustees) CIw(ynumbw." 1195811 Compass Collective assists unaccompanied minor refugees and young people seeking asylum to build resilience and integrate into the UK through English classes, theatre, music and film projects and arts-led professional development programmes. Our mission We are a grassroot organisationl youth-led, wth livedoxperience leadership and a leadership development proyramme. This brings us close to the needs of the young people and shapes all of our programmes. We are grounded in experience with an ambitious vision for the future. We find creative. dynamic ways to empower voices. We provide projects that reduce social isolation and increase independence We offer plattorms for the young people to speak for themselves and become the creative and social leaders of the future. 2023 in Brief The last year... 2023 has been a year of ups and downs. The ups have been our extraordinary output of work, the downs have been the increasing hostile policies towards immigration in the We went i nternational to UK. This has made our work more challenging than ever, Iraqi Kurdistan but also more vital. We're committed to countering the narratives and showcasing the skills and talents of our We ran ou r f irst long term incredible Compass members. music programme ON TRACK with a live gig at the Jago! We launched a Youth Board We became an Associate Company of the National Youth Theatre and Brunel University. We welcomed oury outh Board. and getting their voices involved in our organisation. Six active young members are supporting us with the strategic decisions making of Compass and mapping the next chapter of our work We're part of the Old Vic Community Club. We developed our music and film strands. Our national projects were held in Leeds, Kent and London. We went international to Iraqi Kurdistan as part of our collaboration on the Voice Notes Project Our online sessions were attended by young people from over 30 localions across the UK. We led 192 sessions We engaged with 331 Young People Charity Mrnt￿r." 119￿11 THE TEAM Executive Leadership Team Trustees Ebrahim Esmail Executive Director Leah Gayer Co-Director (Developments and Partnerships) Mhairi Gayer Co-Director (Young person coordinator) Patrick Riley Co-Director {Head of facilitation) Leila Seguin Co-Director (Operations and Finance) Wendy Solesbury (MBE) Bruce Goodison Toby Jones Mohamed Al-Kaisi Azadeh Fatehrad Fatimah Adesanya Compass Associate Artists A¢tor and AMl$tant Dlrector Staff Sara Lar•¢ Welfare Offlcer ( Maternlty Leave) Bo Borthwlck Soclal Medla and Marketln8 Sasha Harrington Compass Conn•JF(kn ￿ (lefifjt d th8 CIO tr that kwK#J. kn FryrwwJ trK)se financ ststernerts the tr￿tee$ arn t and &tysr*d in Ihe fina￿1￿ stalerrnnts", il conbnuts e¥sien¢x. finan(xl ol Ihe chanty and enable th8m to ensL¥O that the fma￿la1 5talen%rrt5 UYllKty *ith lh8 chw'ts￿ A£t 2011. the Charity IA¢(wis aTrJ Rwtsl Rryu&b(n¥ 2W8 Fromscns of the (knmir¥J Lkxum8nL Tlw are Also offrdwj ar¥J thr Irr￿¢￿tr AFvro%%d tylhB TrLBtees on...... 11.12CJZLk S￿ned on their behp¥byTYuw................. IwrJY S(WginY ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024** |||Unrestricted|Designated|Restricted|**TOTAL**|**TOTAL**| |---|---|---|---|---|---|---| ||**Notes**|Funds|Funds|Funds|**2023/24**|**2022/23**| |||£|£|£|£|£| |**INCOMING RESOURCES**||||||| |**Incoming Resources from Generated Funds**||||||| |Donations, Grants & Legacies|**3a**|9,819|91,390|130,845|232,054|192,327| |Charitable Activities|**3b**|5,784|-|-|5,784|9,001| |Activities for Generating Funds|**3c**|154|-|860|1,014|2,965| |Investment Income|**3d**|-|-|-|-|-| |Other Incoming Resources|**3e**|-|-|-|-|1,050| |**TOTAL INCOMING RESOURCES**||**15,757**|**91,390**|**131,705**|**238,852**|**205,343**| |**RESOURCES EXPENDED**||||||| |**Costs of Generating Funds**||||||| |Cost of Charitable Activities|**4a**|8,034|62,538|114,650|185,222|162,206| |Governance Costs|**4b**|240|900|-|1,140|1,125| |**TOTAL RESOURCES EXPENDED**||**8,274**|**63,438**|**114,650**|**186,362**|**163,331**| |**NET INCOMING (OUTGOING) RESOURCES**||**7,483**|**27,952**|**17,055**|**52,490**|**42,012**| |Funds Brought Forward||21,413|14,591|20,367|56,371|14,359| |Transfer Between Funds||(3,507)|-|3,507|-|-| |**TOTAL FUNDS CARRIED FORWARD**||**25,389**|**42,543**|**40,929**|**108,861**|**56,371**| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 20 to 29 form part of these financial statements. 18 COMPASS COLLECTIVE Ichariiable Incorwared organ￿satIOn) BALANCE SHEET AS AT 31ST MARCH 2024 U4YesbiawJ Restncte FuThls Fw¥Js TOTAL 31-Mar.24 TOTAL 31-Mar-23 FSxed Assets Tangib￿ Assets Invesirnents Tol41 Flxed Ass•ts Current As50ts Dethors & PrepayThnts Cash al Bank and in Hand Total Current Assets 11.285 57.787 69,072 11.285 98.716 110,001 40.929 40,929 58.297 58.423 credito￿ Amounts fa￿n9 (kne wimsn ( ar 10 1.140 1.140 2.&52 NET CURREPU ASSETS 67.932 40.929 108,861 $6.371 TOTAL ASSETS kn {￿rrent 67,932 40,929 108,881 56,371 Creditors: Any￿￿ falhYJ due kn mc*è Ihaft one year 11 NET ASSETS 67.932 40.929 108,861 56,371 Fundsof the Charity Geneial Fufi¢ts DesvJn8ted FurKIs Re*ricted Funds 2&389 42.543 25,389 42.543 40,929 21.413 14,591 2Q367 40,929 Totsl Funds 67.932 40.929 108,861 56,371 1112DLL AP￿￿O¥ad by the Tntslees on........................................................................................ Signed on Iheff behaK by Trl￿ee.. ......... .. Prlnted Narn f &G&WL 19 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** ## **Basis of Preparation** The financial statements 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 financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## **Incoming Resources** ## _**Recognition of Incoming Resources**_ These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## _**Incoming Resources with Related Expenditure**_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. ## _**Grants and Donations**_ Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## _**Tax Reclaims on Donations and Gifts**_ Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. ## _**Contractual Income and Performance Related Grants**_ This is only included in the SOFA once the related goods or services have been delivered. ## _**Gifts in Kind**_ Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. ## _**Donated Services and Facilities**_ These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## _**Volunteer Help**_ The value of any voluntary help received is not included in the accounts. ## _**Investment Income**_ This is included in the accounts when receivable. ## _**Investment Gains and Losses**_ This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 20 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **1. ACCOUNTING POLICIES (continued)** ## **Expenditure and Liabilities** ## _**Liability Recognition**_ Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## _**Governance Costs**_ Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters. ## _**Grants with Performance Conditions**_ Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. ## _**Grants Payable without Performance Conditions**_ These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## _**Investments**_ Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value. ## _**Unrestricted funds**_ These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities. ## _**Restricted funds**_ These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes. ## _**Designated funds**_ These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects. ## _**Fixed Assets**_ Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. ## _**Depreciation Expense**_ Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows: Fixtures, Fittings and Equipment 25% - Straight Line Basis ## **2. TANGIBLE FIXED ASSETS** The CIO held no fixed assets during this or the previous financial period. The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2024: None 31st March 2023: None 21 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **3. INCOMING RESOURCES** |**a) Donations, Grants & Legacies**
Gifts & Donations
Grants Received
**b) Charitable Activities**
Campaigns & Projects
Services
**c) Activities for Generating Funds**
Ticket Sales
**d) Investment Income**
Interest
**e) Other Incoming Resources**
Sundry Income|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023/24**
**2022/23**
£
£
£
£
£
6,155
2,000
-
8,155
10,732
3,664
89,390
130,845
223,899
181,596
**9,819**
**91,390**
**130,845**
**232,054**
**192,327**
4,457
-
-
4,457
5,572
1,328
-
-
1,328
3,429
**5,784**
**-**
**-**
**5,784**
**9,001**
154
-
860
1,014
2,965
**154**
**-**
**860**
**1,014**
**2,965**
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
-
-
-
-
1,050
**-**
**-**
**-**
**-**
**1,050**| |---|---| 22 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **4. RESOURCES EXPENDED** |**Note**
**a) Cost of Charitable Activities**
Accommodation Costs
Activities & Events
Advertising & Publicity
Bank Charges
Fundraising Costs
Insurance Costs
Licenses & Subscriptions
Office Costs
Rent & Rates
Staff Costs
**13**
Sundry Expenses
Telephone Costs
Training Costs
Travel & Subsistence
Young Ambassadors
**b) Governance Costs**
Independent Examiners Fees
**10**
Legal & Professional Fees|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023/24**
**2022/23**
£
£
£
£
£
-
-
1,189
1,189
212
258
1,174
696
2,128
2,252
-
-
-
-
800
10
12
-
22
-
-
-
-
-
4,584
-
-
292
292
96
-
104
705
809
792
15
511
763
1,289
881
-
-
-
-
150
5,285
51,378
94,322
150,985
129,686
1,163
79
41
1,283
120
32
458
345
835
582
-
800
263
1,063
100
1,186
7,852
14,876
23,914
20,766
85
170
1,158
1,413
1,185
**8,034**
**62,538**
**114,650**
**185,222**
**162,206**
240
900
-
1,140
900
-
-
-
-
225
**240**
**900**
**-**
**1,140**
**1,125**| |---|---| 23 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **5. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** |Amplify Fund
Arts Council
Diaspora Fund
Jack Petchey
Mercers Fund
Nottingham University Fund
Osbourne Parke
Pappy Show
Surrey University Fund
Wandsworth Council
Youth Music Fund
Awards For All
Coop 23 Fund
Fund For Human Need
Leeds x NYT
Lush Fund
Red Cross Strategy
Trust for London
Arts Awards Fund
Calling Across Borders
COOP Fund
Creative without borders
Dalston Den Fund
Eko Magazine Fund
Good Chance/ London Youth - The Walk
London Youth - Summer City Leaders
Mental Health Fund
REUK Fund
Split Initiative - Leeds
Swan Mountain- Leeds
Trust For London 21/22|**Balance**
**Balance**
**01-Apr-23**
Income
Expenditure
Transfers
**31-Mar-24**
£
£
£
£
£
-
4,800
276
-
4,524
-
13,280
-
-
13,280
-
29,987
29,583
-
404
-
1,500
-
-
1,500
-
5,000
-
-
5,000
-
11,250
8,822
-
2,428
-
750
40
-
710
-
200
170
-
30
-
961
959
-
2
-
2,440
1,066
-
1,374
-
26,937
25,247
-
1,690
2,789
-
-
-
2,789
30,440
-
29,638
-
802
120
860
980
-
-
6
20,374
16,195
-
4,185
(893)
-
-
893
-
(1,034)
2,366
795
-
537
(8,560)
11,000
879
-
1,561
(581)
-
-
581
-
(3)
-
-
3
-
6
-
-
-
6
(14)
-
-
14
-
-
-
-
-
-
-
-
-
-
-
(14)
-
-
14
-
1
-
-
-
1
105
-
-
-
105
(100)
-
-
100
-
(4)
-
-
4
-
(1)
-
-
1
-
(1,897)
-
-
1,897
-
**20,367**
**131,705**
**114,650**
**3,507**
**40,929**| |---|---| 24 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **5. RESTRICTED FUNDS (Continued)** ## **PREVIOUS FINANCIAL YEAR** |Awards For All
Coop 23 Fund
Fund For Human Need
Leeds x NYT
Lush Fund
Red Cross Strategy
Trust for London
Arts Awards Fund
Calling Across Borders
COOP Fund
Creative without borders
Dalston Den Fund
Eko Magazine Fund
Good Chance/ London Youth - The Walk
London Youth - Summer City Leaders
Mental Health Fund
REUK Fund
Split Initiative - Leeds
Swan Mountain- Leeds
Trust For London 21/22|**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfers
**31-Mar-23**
£
£
£
£
£
-
10,000
7,211
-
2,789
-
30,440
-
-
30,440
-
1,180
1,060
-
120
-
126
120
-
6
-
-
893
-
(893)
-
-
1,034
-
(1,034)
-
11,000
19,560
-
(8,560)
-
-
581
-
(581)
-
-
3
-
(3)
-
20,718
20,711
-
6
-
-
14
-
(14)
-
50
50
-
-
-
25
25
-
-
-
-
14
-
(14)
-
2,000
1,999
-
1
-
255
150
-
105
-
-
100
-
(100)
-
-
4
-
(4)
-
-
1
-
(1)
-
7,500
9,397
-
(1,897)
**-**
**83,294**
**62,927**
**-**
**20,367**| |---|---| The Restricted Funds are wholly represented by the charity's cash reserves and are to be expended as specified above. 25 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **6. DESIGNATED FUNDS** ## **CURRENT FINANCIAL YEAR** |Clowning Workshop
Counterpoints Arts
Esmée Fund
Getting Active - LY
GFM - Connect Fund
Hillingdon -Taste of Home
Hillingdon Council
Lush Fund
LY - Summer 22 Fund
LY/Emergency Party Fund
Magic Little Grant
MAHome Project
MAI Fund
NHS ( Napiers Barracks)
One Off Donation
Royal Victoria Hall Foundation
UK Youth Fund
British Red Cross
Chicken Shed Fund
Fore Fund
Hilden Fund
Kent College Fund
Legacy Fund
Somerset House Fund
Somerset Fund
UK Youth|**Balance**
**Balance**
**01-Apr-23**
Income
Expenditure
Transfers
**31-Mar-24**
£
£
£
£
£
(68)
-
2
-
(70)
842
760
1,546
-
56
16,553
38,473
24,552
-
30,474
692
-
692
-
-
(652)
-
743
-
(1,395)
(5,155)
8,000
-
-
2,845
3,575
33,292
24,745
-
12,122
1,020
-
245
-
775
8
-
6
-
2
2,035
-
782
-
1,253
410
500
155
-
755
(3,053)
-
657
-
(3,710)
308
-
401
-
(93)
708
-
309
-
399
(638)
2,221
36
-
1,547
1,056
-
50
-
1,006
3,361
5,000
4,236
-
4,125
(3,281)
-
16
-
(3,297)
14
-
14
-
-
(4,428)
-
-
-
(4,428)
2,221
-
735
-
1,486
-
644
650
-
(6)
173
-
-
-
173
400
-
470
-
(70)
-
2,500
2,381
-
119
(1,509)
-
15
-
(1,524)
**14,591**
**91,390**
**63,438**
**-**
**42,543**| |---|---| 26 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **6. DESIGNATED FUNDS** ## **PREVIOUS FINANCIAL YEAR** |Clowning Workshop
Counterpoints Arts
Esmée Fund
Getting Active - LY
GFM - Connect Fund
Hillingdon -Taste of Home
Hillingdon Council
Lush Fund
LY - Summer 22 Fund
LY/Emergency Party Fund
Magic Little Grant
MAHome Project
MAI Fund
NHS ( Napiers Barracks)
One Off Donation
Royal Victoria Hall Foundation
UK Youth Fund
British Red Cross
Chicken Shed Fund
Fore Fund
Hilden Fund
Kent College Fund
Legacy Fund
Somerset House Fund
UK Youth|**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfers
**31-Mar-23**
£
£
£
£
£
-
764
832
-
(68)
-
2,927
2,084
-
842
-
36,000
19,447
-
16,553
-
1,000
308
-
692
-
5,269
5,921
-
(652)
-
-
5,155
-
(5,155)
-
16,451
12,876
-
3,575
-
1,300
280
-
1,020
-
1,700
1,692
-
8
-
5,500
3,465
-
2,035
-
500
90
-
410
-
6,054
9,107
-
(3,053)
-
2,500
2,192
-
308
-
14,433
13,725
-
708
-
1,000
1,638
-
(638)
-
2,000
944
-
1,056
-
5,365
2,005
-
3,361
-
2,315
5,596
-
(3,281)
-
420
406
-
14
-
-
4,428
-
(4,428)
-
7,000
4,779
-
2,221
-
487
487
-
-
-
500
327
-
173
-
1,500
1,100
-
400
-
-
1,509
-
(1,509)
**-**
**114,985**
**100,395**
**-**
**14,591**| |---|---| The Designated Funds are wholly represented by the charity's cash reserves and are to be expended as specified above. 27 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **7. INVESTMENTS** The CIO held no fixed assets investments during this or the previous financial period. ## **8. CASH AT BANK AND IN HAND** ||Unrestricted|Unrestricted|Restricted|**Total**
**Total**| |---|---|---|---|---| |||Fund|Fund|**31-Mar-24**
**31-Mar-23**| |||£|£|**£**
**£**| |Cash at Bank & in Hand||57,787|40,929
98,716
58,297|| |||**57,787**|**40,929**
**98,716**
**58,297**|| |**9. DEBTORS AND PREPAYMENTS**||||| |Sundry Debtors|Unrestricted
Fund
£
11,285||Restricted
Fund
£|**Total**
**Total**
**31-Mar-24**
**31-Mar-23**
**£**
**£**
-
11,285
126| |||**11,285**||**-**
**11,285**
**126**| |**10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| |Independent Examiners Fees|Unrestricted
Fund
£
1,140||Restricted
Fund
£|**Total**
**Total**
**31-Mar-24**
**31-Mar-23**
**£**
**£**
-
1,140
1,125| |Sundry Creditors||-||-
-
927| |||**1,140**||**-**
**1,140**
**2,052**| ## **11. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The CIO held no long term liabilities during this or the previous financial period. ## **12. NET ASSETS BETWEEN FUNDS** |Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-24**
**31-Mar-23**
£
£
£
£
-
-
-
-
67,932
40,929
108,861
56,371
-
-
-
-
**67,932**
**40,929**
**108,861**
**56,371**| |---|---| 28 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024** ## **13. STAFF COSTS AND NUMBERS** |**TOTAL**
**2023/24**
£
Gross Wages, Salaries & Fees
150,985
Employer's National Insurance Costs
-
Pension Contributions
-
**150,985**
Consultants who were engaged in each of the following activities:
**TOTAL**
**2023/24**
Activities in furtherance of organisation's objects
6|**TOTAL**
**2022/23**
£
129,686
-
-
**129,686**
**TOTAL**
**2022/23**
6| |---|---| The Charity employs staff on a self-employed basis and is therefore not subject to taxation or National Insurance Costs and no employees received emoluments in excess of £60,000 (2022/23:None). ## **14. TRUSTEES AND OTHER RELATED PARTIES** No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. ## **15. RISK ASSESSMENT** The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **16. RESERVES POLICY** The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily. ## **17. PUBLIC BENEFIT** The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake. 29 ## **COMPASS COLLECTIVE** (Charitable Incorporated Organisation) ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** Report to the trustees/ members of Compass Collective on the accounts for the year ended 31st March 2024 set out on pages 18 to 29. ## **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 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - 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 matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ Date: 22nd August 2024 30