Charity Number: 1200251 

## Hidden Treasure Trust CIO 

Report and financial statements For the period ended 30 June 2023 


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Hidden Treasure Trust CIO Reference and administration information 

**Charity number** 1200251 **Registered office and operational address** Operational name ‘The Hideaway’ The Hideaway Partington Shopping Centre Central Road Partington Manchester M31 4EL 

**Registered address of subsidiary Hidden Treasure Discovery Centre CIC** As above 

## **Trustees** 

Trustees who were appointed during the period and up to the date of this report were as follows: 

Christopher Anthony Chair Susan James Karen Greenhalgh Rebekah Stacey Laura Jones 

## **Key management personnel** 

Ruth Lancey Chief Executive 

## **Bankers** 

Unity Trust Bank, 4 Brindley Place, Birmingham, B1 2JB 

## **Solicitors** 

Slater Heelis, 1[st] Floor, Crossgate House, 47-55 Cross Street, Sale, M33 7FT 

## **Independent Examiner** 

Patrick Morello ACA 

Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS. 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

The Trustees present their report and the financial statements for the year ended June 2023. 

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. 

## **Objectives and activities** 

The formal objects of the CIO are: 

_The relief of financial hardship among people in greater Manchester by providing them with goods and services they could not otherwise afford through lack of means._ 

_To provide or assist in the provision of facilities in the interests of social welfare for individuals and families residing in greater Manchester, and the surrounding areas 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 quality of life._ 

_To advance the education of the inhabitants of greater Manchester, and the surrounding areas in such ways as the charity trustees think fit, to enhance their ability to gain employment and to strengthen family relationships._ 

_To support the welfare of children in greater Manchester, and the surrounding areas so that they can advance in life through:_ 

_(a) The provision of recreational and leisure time activities provided in the interest of_ 

_social welfare, designed to improve their conditions of life;_ 

_(b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.’_ 

The charitable objects of the organisation can be summarised through its mission statement: 

**Our Mission:  to bring life-transforming help, hope and joy to families and vulnerable** 

**people through Education, Relationships and Resources.** 

**By creating unique community hubs in areas of high deprivation, we bring together partners to create a thriving open-access, barrier and stigma-free community for learning,** 



Trustees’ annual report for the year ended June 2023 

## Hidden Treasure Trust CIO 

## **Charitable Status** 

Hidden Treasure has been operating as a CIC under the name Hidden Treasure Discovery Centre CIC and was first registered in May 2017. We began operating in April 2018 with the opening of The Hideaway in Partington Shopping Centre. Over the years that followed, the operations, community support and wraparound services delivered developed as we responded to the changing needs of our community -particularly through the covid pandemic and Cost of Living crisis. 

In September 2022 we formerly registered Hidden Treasure Trust CIO as a charity with the charities commission in England and Wales, and started the process of transferring all assets and undertakings that were charitable to the charity, and maintaining the CIC as a trading subsidiary under the sole ownership of the charity. This process and transition took a number of months, and for this reason it is important to take the outcomes and finances of the entire year for both entities into consideration when looking at the charitable outcomes for the year. 

## **A developing Model for Change** 

Hidden Treasure Trust have created a unique model for change with an overall aim of ‘Improving Lives’. The model for change is about creating a large central resource – a community hub in which we can work together with partners and stakeholders to maximise our resources for the benefit of those in need. The model is has been tried and tested, and is constantly growing, evolving and adapting to the needs of the world and community around us. 

Built on a framework of love, joy, hope and equity, each hub and partners must adhere to a core belief that every person has infinite value, potential for good and equal worth. 

The Hideaway play space, Hope Centre community hub and community Café/Restaurant is our front door to welcoming all people in. 

From there people are encouraged to access all relevant services, groups, courses, training, resources, support and information available. 

**Learning and education** – This aspect is core and begins right at our primary front door – The Hideaway. Our unique play area will be central to every hub and focusses on a huge range of early years development areas with an aim to grow children in both fine and gross motor skills, improve speech, language and communication, help them develop social skills and enhance school readiness. Beyond Early years the addition of After school clubs, special sessions for targeted groups and in supporting the mental health of older children and teens both in-house and in local schools is a key element of our Learning and Education focus. This focus continues right through to adults and will increasingly include volunteer training and back-to-work programmes, parenting classes and groups, life skills classes and a vast range of other workshops and classes. The model offers a rolling programme of classes and courses through the family team, the Hope community team, 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

through partners in specialist areas and through individuals offering less formal learning opportunities. 

**Healthy Living** – This is all about helping people to make healthier choices, both practically and from a mental health perspective. It could cover support groups, life skills, basic health services, supporting local health campaigns, providing healthy food and meals, cooking and nutritional education and much more. This is an element we plan to develop over the coming year. 

**Practical provision –** This currently includes a Food Pantry which provides basic essentials which are free or affordable, and an information and advice signposting service. It also includes school uniform for all families and a free book exchange. A Household Support Fund provides immediate help and assist in emergency situations. Practical provision could also include new toys, free children’s meals during the holidays, hot meals in an emergency, co-ordination and sourcing of second-hand goods, a baby or family bank, gardening support and DIY help. 

**Strengthening relationships** – Strong relationships are vital to our personal wellbeing and growth, particularly those between children and their families. We offer a range of fully accessible leisure facilities to enable families to spend fun, quality time together. In addition, hubs we offer themed play or activity sessions, trips or weekends away, social groups and activities, family 1-1 support, prayer and social courses for fun rather than education. 

**Growing resilience** – This category covers many of the areas already mentioned, but is a key focus of many of our activities. Both the Hope and Family teams at all hubs will have growing resilience as a priority, whether that’s to help families become stronger together, to increase positive health outcomes, to provide financial or budgeting support along with practical help and improve financial resilience or helping children (and in some cases adults) to grow in emotional resilience through play activities, children’s support services or parental education. 

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes. 

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. 

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Hidden Treasure Trust CIO 

Trustees’ annual report for the year ended June 2023 

## **Objectives and Activities** 

Through 2022-2023 our charitable objectives and Model for Change have been met through the delivery of 3 primary projects in Partington: 

- The Hideaway 

- Hope Centre Partington 

- Family & Education team 

## **Achievements and performance** 

The charity's main activities and who it tries to help are described below. All its charitable activities focus on children, families and those in hardship in Greater Manchester and are undertaken to further Hidden Treasure Trust CIO’s charitable purposes for the public benefit. 

Year 1 

As the first year that Hidden Treasure Trust CIO has been established as a charity, the achievements and performance statistics for the year have been combined with those achieved before the registration in September 2022 in order to give an accurate reflection of the performance for the year. 

The primary goals set for the year were: 

- To see at least 50,000 children and their families visit our centre during the year 

- To support 50 families 1-1 and see a measured improvement in their progress 

- To see 250 parents access support groups, classes or courses to improve their skills, confidence, welfare or family life 

- To provide immediate practical help in the form of food or essential items to everyone in genuine need who approached us 

- Become the UK’s first free/donation based play centre, and for this to not have a negative impact upon finances 

## **The Hideaway** 

The Hideaway supports the welfare of children in Greater Manchester through the provision of a unique, educational play centre. In January 2023 as part of the transition from the previous CIC legal entity, to fulfil our objects of supporting the welfare of children in Greater Manchester and provide leisure and recreational facilities we became the first Pay What You Can play centre in the UK. 

All families regardless of their financial status are welcome to visit our centre and use all of our facilities free of charge. Donations where possible are welcome. 

The Hideaway fulfilled our charitable objects this year through: 

- Removing any standard charge for visiting the centre. All children can visit regardless of financial status. 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

- Providing a large range of educational play facilities, all designed in line with the EYFS syllabus 

- Running additional learning activities each day, including song time, story time, crafts and Messy play 

- Hosting free parenting groups and support groups and classes for new parents, young parents, grandparents, carers, weaning groups, pre-school groups, communication groups (run by local Speech and Language therapists), dads wellbeing course, new dads course. 

Through this year the Hideaway saw over 42,000 children visit the centre and benefit from all that’s on offer. 

Over the coming year the Hideaway aims to: 

- See a further 50,000 children visit the centre 

- Continue providing a Pay What You Can entrance policy 

- Develop HAF funded sessions – free sessions for local children on Free School Meals which include a hot meal and activities 

- Continue delivering daily activity sessions on a weekly theme to help children learn 

- Develop a new area for older children to learn and play 

- Develop our after school club programme with sessions such as chess and Minecraft club 

- Pursue opportunities to expand the Hideaway, opening a second hub in another Greater Manchester area of high deprivation 

- Grow parenting courses and support we can offer in the Hideaway by collaborating with other service providers 

- Upgrade and replace some of our well used play equipment such as the sensory room and water play space 

## **Finances** 

Over the coming year we anticipate maintaining similar staffing levels to continue running the additional services and wraparound care on offer at The Hideaway. We are anticipating a sharp rise in energy bills due to the war in Ukraine and we will look to raise additional funds to cover some of the new developments. 

At present we have identified a lack of investment in both marketing and fundraising – crucial areas for a charity of our size. Marketing in particular is vital as children outgrow our facility and new parents with babies need to be made aware and encouraged to visit. We are developing a strategy to grow and invest in both marketing and finance. 

The running of the Hideaway can at present support itself, however it does not generate enough income to cover all of the additional non-income generating services which form part of our charitable offer. 

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Hidden Treasure Trust CIO 

Trustees’ annual report for the year ended June 2023 

## **Long term objectives** 

Long term, our core objective is to take the model for change we have created and replicate this in other areas of Greater Manchester which are struggling against high levels of deprivation. Initially, this will be done under our name and charity however if the second hub is successful, we will look to develop a franchise model in which the core elements remain the same, but the model can be adapted to help other organisations in their context. 

This plan for growth supports our objects in that it enables us to reach far more than the number of children who currently visit the centre. In time we hope that all children across Greater Manchester will have access to a Hideaway and all of the facilities and support available through it. 

## **Hope Centre Partington** 

The Hope Centre is a community hub which incorporates a food pantry, a household support fund, information and advice service and second-hand school uniform for those living in high levels of deprivation and need. It supports our core objectives of relieving financial hardship both by providing immediate practical relief, and by long-term relationships addressing a holistic range of barriers which may prevent people from improving their circumstances. 

In January 2023 we moved the Hope Pantry out of its home on Wood Lane and into the Hideaway. This move was primarily a cost-saving exercise, reducing the number of staff needed due to other help available from Hideaway staff members and saving on the rent/utilities of a separate building. However, following the move, the landlord (Your Housing Group) offered the building free of charge, and to cover all utilities providing it is still used for community benefit. Through 2023 we will now be trialling a range of opportunities to run classes, courses and host partner organisations at the base. It has been agreed to trial the pantry move for 12 months. 

## **Membership:** 

Access to the food pantry is via annual membership. In June 2023 this membership was opened up from M31 residents, to all Trafford residents who are in need. During the membership and renewal process, all potential members are required to have a 1-1 triage with one of our team members. During this process the applicant must explain their circumstances, and go through a formal questioning process to ensure that they have genuine need and are facing long term hardship. We work hard to balance dignity, compassion and care whilst ensuring that those in receipt of the Hope Centre support are genuinely in need of it. This process also gives us a good opportunity to identify other areas that we may be able to support with – either internally or through referrals to partner organisations. 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

All who request other types of help such as energy top ups or face a range of personal issues undergo a similar triage process before help is given. This enables us to ensure that the beneficiaries are both in genuine need, that we are the most suitable organisation to provide help and that relevant referrals can also be made. 

The Hope Centre outcomes 2022-23 

- Provided 2151 regular bags of food and 2805 large bags of food 

- Value of food distributed approximately £127,170 

- 155 children received new school uniform 

- 521 households received emergency help with energy or white goods totalling £35,736 

- During the year over 400 households joined or renewed membership 

## **Finances** 

The basic funding for the running of Hope Centre is secure for the next financial year, however, this, along with support from Your Housing Group covers the most basic services which are covered by the MOU agreement between ourselves, L&Q Housing and Trafford Council – our building, a centre Manager and some administrative costs. The additional staff required for the triages, running the pantry and deliveries are not covered. 

Currently we receive a minimum of £20,000PA from the Household Support Fund towards the costs of emergency help provided. This is due to end on 31[st] March 2024. Further support will be dependent upon government announcements. 

The Hope Centre self-generates around £20,000 per year from membership fees (£5 per year), contributions towards food bags (pay it forward scheme available for anyone unable to contribute). 

## **Long term objectives** 

A review will be undertaken in December 2023 to decide whether the pantry should move back to its original location or whether the other purposes have been successful. The long term objective for the Hope Centre is to work itself out of a job – to help improve lives until the support available is no longer required. There are many external factors that influence this though that are beyond our control, such as the availability of employment in our community, the lack of transport to reach suitable employment, the Cost of Living crisis, rate of inflation and international circumstances. 

In the medium term, we plan to continue supporting our community. In 2024 we will be renewing our lease on the building, and will request a 10 year lease with a 5 year break from the landlord. We will seek additional partners to help fund the running of the centre, and provide finances to assist with the purchasing of food that is not donated. 

As we look to grow to other sites around the city, the inclusion of practical help will be a key part of the plans for new hubs. Working closely with families and those who are vulnerable or living in poverty, it’s almost impossible to provide long-term, holistic support without first meeting the immediate practical needs you’re faced with. We will look at 

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Hidden Treasure Trust CIO 

Trustees’ annual report for the year ended June 2023 

other provision available in an area, and ensure that future Hope Centre’s are complimenting existing services and meeting genuine needs and not simply replicating the demand in Partington. 

## **Family and Education Team** 

The Family and Education Team covers a range of staff and services which meet our object of advancing education and strengthening family relationships. They work across both sites with all teams, ensuring that those we meet in both The Hideaway and Hope Centre have additional support available and somewhere to go in order to improve their life. 

The Family and Education team service and support this year includes: 

- Our Club SEND play session for children 

- After school clubs inc. Animal Club and Minecraft club 

- Who Let the Dad’s Out? Dad & kid play session 

- Volunteer co-ordinator for placements and employment support 

- 1-1 support sessions for struggling referred families 

- Carer support group 

- Alternative education support for school refusing youths in partnership with Broadoak School 

- High school transition support 

- Professional sleep support 

- Parenting classes 

- First aid 

- Life skills group 

- Men shed and green space help for improved mental health 

- Delivery of HAF funded sessions for the whole family 

## **Finances** 

Finances for this team have been a challenge this year. The team launched through being commissioned to run a pilot scheme under Trafford Team Together. This scheme was highly successful and led to additional funding from Trafford Housing Trust and the Baptist Insurance. However, in March 2023 we learned that the TTT funding would end as the scheme was to be rolled out across the borough with less available funding. We were invited to apply however we were unsuccessful in our bid as we stated that we would continue the project already started and grow it from there, rather than deliver the new project and leave 50 families on our caseload in the lurch. 

As a result, we’ve struggled to find additional funding for this team so far. Without additional funding we will not be able to continue delivering the services listed and launch additional help. 

## **Long term objectives** 

The long-term objectives for this team in Partington are as follows: 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

- to secure additional funding and continue providing the existing services (subject to review) 

- To secure funding for a community health project – supporting those at risk of long-term health conditions to make healthier choices, to cook and eat better and live healthier lifestyles. 

- To grow our volunteer support – recruiting potential new volunteers, providing coaching and training and supporting local residents into suitable employment. 

- To link in with the developing family hubs network and ensure that we are suitably placed with all stakeholders for maximum impact and partnership. 

- To open and utilise the Hideout Education Centre – developing a full programme of classes and courses that see’s the 2 spaces open and used every day. 

## **Beneficiaries of our services** 

During the year 2022/2023 the target beneficiaries of the Hope Centre services and Family Team services were extended to include families and households in poverty across Trafford borough and Greater Manchester. 

At the Hope Centre, all beneficiaries of the food pantry and practical support services must be members. To become a member, individuals must undergo an application process and interview which includes checking the id and address of the individual, and confirming the financial and employment status of the individual and evidence of any other extenuating circumstances. In this way we ensure that those in receipt of support from the Hope Centre are genuinely in need of charitable services. 

At the Hideaway, families from across Greater Manchester visit the centre, with the majority of families local or from the Trafford area. Children from the region benefit from the educational play space which surveys show helps to develop the confidence, skills, social development and school readiness of visiting children. The Hideaway also provides recreational activities for children who could not otherwise afford such activities using a unique ‘Pay What You Can’ optional donation based entrance charge. 

In reviewing the performance of the charity, trustees consider the number of people who have accessed the range of services, support and activities, and compare these to the target numbers and total potential capacity. The trustees also consider feedback forms gathered, comments and surveys, case studies and a range of statistical data which is maintained as part of feeding back to grant funders. 

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Hidden Treasure Trust CIO 

Trustees’ annual report for the year ended June 2023 

## **Financial review** 

**As stated above it is useful to review the results of the charity and CIC together. The CIC accounts are for a 13 month period to 30 June 2023. The charity accounts are for a 10 month period to 30 June 2023. The charity acquired the CIC subsidiary on 1 January 2023 and is exempt from preparing group consolidated accounts for the period ended 30 June 2023 as the parent and group below it qualify as small under FRS 102.** 

Following a challenging financial year for the charity, the total income for the year was £1,004,031, which was made up of £521,082 from the CIC and £484,016 for the charity (CIO). For the CIC the cost of sales and expenditure was £128,711 and £388,801 respectively, whilst the total expenditure for the charity (CIO) was £354,006. Total expenditure for both the charity and CIC totalled £871,518 for the year. The total funds carried forward for the year for the charity (CIO) totalled £130,010 of which £71,363 was restricted and £58,647 was unrestricted. Funds carried forward for the CIC totalled (£27,525). 

The charity currently raises roughly half of its funds from self-generated activity – primarily donations to the Hideaway, use of the café, Hope Pantry donations and children’s parties (through the CIC). The other half consists of regular grant funding from Statutory services and Housing Providers through an on-going MOU, commissioned service contracts, personal and business donations, sponsorship and grant funding. 

The Cost of Living crisis has had a significant impact on the financial performance of the charity and the on-going costs. During the first half of the year the crisis had a big impact upon footfall which is our main source of income generation and revenue. In January 2023 the charity made the bold decision to become Britain’s first ‘Pay What You Can’ play centre, making it affordable for all families and ensuring that all families can benefit from the resources the charity has to offer. As a result, footfall significantly increased and the overall financial impact was positive, increasing self-generated revenue significantly on the previous comparable period. The charity expects that by the end of 2023, selfgenerated income through donations and café sales will have increased by at least 30% - a material difference of over £100,000. 

Other financial challenges facing the charity include the difficulties in accessing grant funding due to the level of increased competition and reduction in available funds. As a result, the trustees are carefully considering more creative ways to become financially resilient for the future including adding in a takeaway delivery service, investing in a marketing and fundraising position within the organisation, the addition of a Post Office Local counter, and partnering with other leisure organisations in the area to add donation buttons for our charity to their booking systems. 

Long-term, the charity is looking to grow by adding a 2[nd] site in Greater Manchester which can both have a significant impact on the local community and meet our charitable objectives, and create additional income generating opportunities which will bring longer term stability to the charity. The trustees anticipate that over the next 12 months finances will remain very tight and great financial caution will be required. Long-term, the outlook 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

for the charity is more positive with a financial forecast that shows in 3 years’ time a strong financial situation and minimum 3 months’ of operational reserves in the bank. 

## **Reserves policy** 

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £150,000 is appropriate given the risks faced by the charity and the sustainability of its different income streams. As at 30 June 2023 unrestricted funds were £58,648. 

Due to the financial challenges of the last few years through the Covid-19 Pandemic and Cost of Living Crisis, this has gradually drained the financial reserves of the organisation. A priority for the charity over the next 2 years is to rebuild the financial reserves and ensure that the future sustainability of the charity is secure. The charity has looked to reduce expenditure in the short term to address the immediate lack of operational reserves, whilst investing in areas the charity is currently weak for its size – marketing and fundraising. The Trustees believe that by investing in these areas along with growing a number of potential trading income streams, this will secure the financial shortfalls currently experienced by the charity. In addition to this, the Trust is progressing with plans to open a second, much larger site in 2024 which has significantly greater income generating potential as well as social impact potential. Cash flow projections show that within 3 years the charity should have substantial operational reserves and growth potential for the future.  The Trustees are satisfied that the charity is a going concern. 

The trustees view is that the amount of reserves required should be less than 3 months’ operating costs (£150,000 rather than £250,000) as the charity can quite comfortably selfgenerate £100,000 within a 3 month period. This will be reviewed if the plans for growth progress as hoped. 

## **Plans for the future** 

The trustees believe that the charity should consider significant growth as part of its longterm future. During the next 3 years the charity aims to: 

- _Build a second, larger centre in another highly deprived area of Greater Manchester_ 

- _Begin to develop a suitable franchise model which will allow other organisations to partner with us, use the model for change and resources we have developed to build similar centres in other areas_ 

- _Triple the number of children, families and vulnerable people helped_ 

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Trustees’ annual report for the year ended June 2023 

## Hidden Treasure Trust CIO 

## **Structure, governance and management** 

The charity operates with 5 trustees and is run on a day to day basis by a CEO, team of managers, staff and volunteers who are accountable to the trustees. 

Hidden Treasure Discovery Centre CIC is owned by the charity, and operated by 3 Directors; 1 trustee, the CEO and a senior manager of Hidden Treasure Trust. It is run for the sole benefit of the CIO as a trading subsidiary through which children’s parties are provided. In the event that a second site is built, that site will operate it’s own CIC in the same way in order to keep the organisation separate and financial information clear. 

Day to day decisions on behalf of the charity are taken by the CEO, Ruth Lancey, with the help of the management team. All significant financial decisions including changes to the charging model, staff pay rates, loans, lease or legal information or significant grant applications are referred to the trustees beforehand. All new projects, new staff roles, important policy changes are referred to the trustees for input and sign-off. The trustees from time to time refuse such requests if it is not felt to be core to the objects, inline with the aims or in the best interests of beneficiaries. The CEO is responsible for presenting new projects, and ensuring the trustees have access to all the information they require or request in a timely manner. 

## **New trustees** 

If the trustees believe the appointment of a new trustee is necessary, the trustees and CEO will discuss the specific areas of expertise or requirements for such as trustee. Trustees, managers and senior directors may propose suitable candidates and, with permission approach such candidates to ascertain interest. If 1 or more candidates are found to be suitable, they will be interviewed by the other trustees and the chosen candidate appointed. 

The charity is a charitable incorporated organisation (CIO) registered as a charity in England and Wales on 2[nd] September 2022. 

In the event of winding-up, members of the charity have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity. 

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts. 

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Hidden Treasure Trust CIO 

Trustees’ annual report for the year ended June 2023 

## **Related parties and relationships with other organisations** 

Hidden Treasure Discovery Centre CIC is a trading subsidiary of the charity, trading for the sole benefit of the charity. 

## **Remuneration policy for key management personnel** 

Pay scales for all staff are agreed by the trustees before 1[st] April annually. The charity is working towards paying all staff as a minimum the real living wage, with managers receiving an equivalent pay rate for a commercial enterprise outside of London, taking into account the charitable nature and financial limitations of the charity. 

## **Risk management** 

The trustees review risk, threats, systems and procedures at each quarterly meeting. The trustees work to identify solutions and systems in order to effectively manage and reduce any risks. 

## **Statement of responsibilities of the trustees** 

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 law 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 the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to: 

- Select suitable accounting policies and then apply them consistently 

- Observe the methods and principles in the Charities SORP 

- Make judgements and estimates that are reasonable and prudent 

- State whether applicable UK Accounting Standards and statements of recommended practice 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 proper 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. 

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## Hidden Treasure Trust CIO 

## Trustees’ annual report for the year ended June 2023 

The trustees’ annual report has been approved by the trustees on                          and 29 / 04 / 2024 signed on their behalf by Karen Greenhalgh. 


Karen Greenhalgh 

Trustee 

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## Hidden Treasure Trust  CIO 

## Independent examiner’s report to the trustees for the period ended  30 June 2023 

I report on the accounts of the charity for the period ended 30 June 2023 set out on pages  17 to 19. 

## **Respec�ve responsibili�es of trustees and examiner** 

The charity's trustees are responsible for the prepara�on of the accounts. The charity’s trustees consider that an audit is not required for this year under sec�on 144 of the Chari�es Act 2011 (“the Chari�es Act”) and that an independent examina�on is needed.  The charity’s gross income exceeded £250,000 and I am qualified to undertake the examina�on by being a qualified member of the Ins�tute of Chartered Accountants in England and Wales (ICAEW). 

It is my responsibility to: 

- examine the accounts under sec�on 145 of the Chari�es Act, 

- to follow the procedures laid down in the general Direc�ons given by the Charity Commission (under sec�on 145(5)(b) of the Chari�es Act, and 

- to state whether par�cular ma�ers have come to my a�en�on. 

## **Basis of independent examiner’s statement** 

My examina�on was carried out in accordance with general Direc�ons given by the Charity Commission.  An examina�on includes a review of the accoun�ng records kept by the charity and a comparison of the accounts presented with those records.  It also includes considera�on of any unusual items or disclosures in the accounts, and seeking explana�ons from the trustees concerning any such ma�ers.  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 ma�ers set out in the statement below. 

## **Other ma�ers** 

Your a�en�on is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accoun�ng and Repor�ng by Chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce issued on 1 April 2005 which is referred to in the extant regula�ons but has been withdrawn. 

We understand that this has been done in order for the accounts to provide a true and fair view in 

accordance with the Generally Accepted Accoun�ng Prac�ce effec�ve for repor�ng periods beginning on or a�er 1 January 2015. 

## **Independent examiner's statement** 

In connec�on with my examina�on, no ma�er has come to my a�en�on: 

1.  which gives me reasonable cause to believe that, in any material respect, the requirements: 

   - to keep accoun�ng records in accordance with sec�on 130 of the Chari�es Act; and 

   - to prepare accounts which accord with the accoun�ng records and comply with the accoun�ng requirements of the Chari�es Act 

have not been met; or 

2.  to which, in my opinion, a�en�on should be drawn in order to enable a proper understanding of the accounts to be reached. 


29 / 04 / 2024 

Patrick Morrello ACA 

Third Sector Accountancy Limited 

Holyoake House Hanover Street 

Manchester, M60 0AS 

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Hidden Treasure Trust CIO 

## Statement of Financial Activities including Income and Expenditure account for the period ended 30 June 2023 

|Unrestricted<br>funds<br>Note<br>£<br>Income from:<br>Donations and legacies<br>3<br>202,875<br>Charitable activities<br>4<br>137,311<br>5<br>3,266<br>Investments<br>6<br>72<br>Total income<br>343,524<br>Expenditure on:<br>Raising funds<br>7<br>12,780<br>Charitable activities<br>8<br>272,097<br>Total expenditure<br>284,877<br>9<br>58,647<br>Transfer between funds<br>-<br>Net movement in funds for the year<br>58,647<br>Reconciliation of funds<br>Total funds brought forward<br>-<br>Total funds carried forward<br>58,647<br>Other trading activities<br>Net income/(expenditure) for the year|Restricted<br>funds<br>£<br>140,492<br>-<br>-<br>-<br>140,492<br>_-_<br>69,129<br>69,129<br>71,363<br>-<br>71,363<br>-<br>71,363|Total funds<br>2023<br>£<br>343,367<br>137,311<br>3,266<br>72<br>484,016<br>12,780<br>341,226<br>354,006<br>130,010<br>-<br>130,010<br>-<br>130,010|
|---|---|---|



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

All income and expenditure derive from continuing activities. 

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Hidden Treasure Trust CIO 

## Balance sheet as at 30 June 2023 


**----- Start of picture text -----**<br>
Note 2023<br>£ £<br>Fixed assets<br>Tangible assets 14 124,174<br>Total fixed assets 124,174<br>Current assets<br>Stock 1,635<br>Debtors 15 46,890<br>Cash at bank and in hand 16 62,708<br>Total current assets 111,233<br>Liabilities<br>Creditors: amounts falling<br>due in less than one year 17 (100,897)<br>Net current assets 10,336<br>Total assets less current liabilities 134,510<br>Creditors: amounts falling<br>due after more than one year 19 (4,500)<br>Net assets 130,010<br>The funds of the charity:<br>Restricted income funds 20 71,363<br>Unrestricted income funds 21 58,647<br>130,010<br>**----- End of picture text -----**<br>


For the year in question, the charity was entitled to exemption from an audit under section 144 of the Charities Act 2011. The Charity Commission has not ordered an audit to be carried out under Section 146 of Charities Act 2011. 

The notes on pages 19 to 32 form part of these accounts. 

29 / 04 / 2024 Approved by the trustees on                       and signed on their behalf by: 


Karen Greenhalgh (Trustee) 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 

## 1 Accounting policies 

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## a Basis of preparation 

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. 

The accounts (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 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) issued 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. 

Hidden Treasure Trust CIO meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. 

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling. 

Hidden Treasure Trust CIO was registered as a charity with the Charity Commission for England and Wales on the 2nd September 2022 and presents accounts for a period of 10 months from the date of registration to 30 June 2023. 

Hidden Treasure Trust CIO is the sole member of Hidden Treasure Discovery Centre CIC - a subsidiary. Hidden Treasure Trust CIO is exempt from preparing group consolidated accounts for the period ended June 2023 as the parent and group below it qualify as small under FRS 102. 

Hidden Treasure Trust CIO aquired the subsidiary on 1 January 2023 becoming the sole member and person of significant control. Hidden Treasure Discovery Centre CIC donated fixed assets (valued at their net book value) and current assets to the charity which are shown in the Statement of Financial Activities as a donation in kind of £138,668. 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 

## b Preparation of the accounts on a going concern basis 

The trustees consider that there are some uncertainty about the charity's ability to continue as a going concern. The charity is currently experiencing funding challenges. To address this the charity has reduced expenditure, put in applications for new funding opportunities and looked to create new income streams. The Trustees are confident with these interventions the charity will be able to continue as a going concern. 

## c Income 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

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. 

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. 

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met. 

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Hidden Treasure Trust CIO 

## d Donated services and facilities 

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution. 

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. In the period ended 30 June 2023, Hidden Treasure Trust CIO received the donated facility of a shipping container for use by the Hope Centre, valued at £3,295. 

## e 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. 

- f Fund accounting 

Unrestricted funds are available to spend on activities that further any of the purposes of 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 charity. 

## g Expenditure and irrecoverable VAT 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds comprise staff costs and the costs of fundraising events and promotion. 

- Expenditure on charitable activities includes the costs of running the Hideaway centre and purchasing consumables for and running costs of the Hope Centre which are activities undertaken to further the purposes of the charity. 

- Other expenditure represents those items not falling into any other heading. 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

## h Operating leases 

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease. 

## i Tangible fixed assets 

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated 

Leasehold improvements 15 years being remaining life of the lease Equipment 5 years 

## j Fixed asset investments 

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. 

The Charity does not acquire put options, derivatives or other complex financial instruments. 

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. 

## k Stock 

Stock held is provisions for the cafe. It is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. 

## l Debtors 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## m Cash at bank and in hand 

Cash at bank and cash 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. 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

## n Creditors and provisions 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## o 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. 

Loans that are not on commercial terms are treated as public benefit entity concessionary loans, in accordance with FRS 102. This means the carrying value in the accounts is the amount originally received for the loan, less any repayments. The loans are not discounted. 

## p Pensions 

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. There were no outstanding contributions at the year end. 

## 2 Legal status of the charity 

The charity is a charitable incorporated organisation registered with the Charity Commission in England and Wales and has no share capital. The registered office address and that of its subsidiary is disclosed on page 1. 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

## 3 Income from donations and legacies 

|Donations<br>Grants<br>Other donations in kind<br>Total<br>4<br>Income from charitable activities<br>Hideaway door entry<br>Community café sales<br>Hope Centre sales<br>Family support group income<br>Total<br>5<br>Income from other trading activities<br>Sales of donated goods<br>Income from fundraising events<br>Donation in Kind from Hidden<br>Treasure Discovery Centre CIC|Unrestricted<br>£<br>82,235<br>40,659<br>76,686<br>3,295<br>202,875<br>Unrestricted<br>£<br>27,549<br>95,165<br>12,959<br>69<br>137,311<br>Unrestricted<br>£<br>2,839<br>427<br>3,266|Restricted<br>£<br>28,890<br>49,620<br>61,982<br>-<br>140,492<br>Restricted<br>£<br>-<br>-<br>-<br>-<br>-<br>Restricted<br>£<br>-<br>-<br>-|Total 2023<br>£<br>111,125<br>90,279<br>138,668<br>3,295<br>343,367<br>Total 2023<br>£<br>27,549<br>95,165<br>12,959<br>69<br>137,311<br>Total 2023<br>£<br>2,839<br>427<br>3,266|
|---|---|---|---|



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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

|6<br>Investment income<br>Income from bank deposits<br>7<br>Cost of raising funds<br>Staff costs<br>Fundraising event costs<br>Marketing|Unrestricted<br>£<br>72<br>72<br>Unrestricted<br>£<br>10,183<br>965<br>1,632<br>12,780|Restricted<br>£<br>-<br>-<br>Restricted<br>£<br>-<br>-<br>-<br>-|Total 2023<br>£<br>72<br>72<br>2023<br>£<br>10,183<br>965<br>1,632<br>12,780|
|---|---|---|---|



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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

## 8 Analysis of expenditure on charitable activities 

|Staff costs<br>Other staff and volunteering costs<br>Premises costs<br>Cafe purchases and direct costs<br>Hideaway activities and equipment<br>Hope Centre purchases and community costs<br>Cleaning costs<br>Repairs and maintenance<br>Small equipment<br>Admin costs, telephone, internet<br>IT software and consumables<br>Insurance<br>Accountancy fees<br>Third party processing fees<br>Depreciation<br>Restricted expenditure<br>Unrestricted expenditure<br>9<br>Net income/(expenditure) for the year<br>This is stated after charging/(crediting):<br>Depreciation<br>Interest payable<br>Independent examiner's fee<br>Bank fees and interest|2023<br>£<br>225,957<br>7,773<br>7,992<br>30,264<br>3,571<br>23,003<br>4,517<br>13,042<br>1,420<br>2,996<br>1,938<br>2,574<br>2,212<br>4,850<br>8,523<br>594<br>341,226<br>69,129<br>272,097<br>341,226<br>2023<br>£<br>8,523<br>19<br>2,212|
|---|---|



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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

- 10 Staff costs 

Staff costs during the year were as follows: 


**----- Start of picture text -----**<br>
|||
|---|---|
|2023|
|£|
|Wages and salaries|231,642|
|Social security costs|1,381|
|Pension costs|3,117|
|236,140|

**----- End of picture text -----**<br>


No employee has employee benefits in excess of £60,000 

The average number of staff employed during the period was 43 The average full time equivalent number of staff employed during the period was 19 

The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £14,774 

- 11 Trustee remuneration and expenses, and related party transactions 

Karen Greenhalgh, a Trustee of the charity and Director of Hidden Treasure Discovery Centre CIC, was paid £3,120 by a third party to do youth work for Hidden Treasure Discovery Centre CIC in the period 1 January 2023 to 30 June 2023. The third party was recompensed for the cost by the CIC. Neither the trustees nor any persons connected with them received any other remuneration or reimbursed expenses during the year. 

Aggregate donations from related parties were £310 of which £240 were restricted for use in the Hope Centre. 

There are no donations from related parties which are outside the normal course of business. 

Karen Greenhalgh, a Trustee of the charity and Director of Hidden Treasure Discovery Centre CIC, has given an unsecured concessionary loan of £20,000 to the charity. The terms and details of the loan are disclosed in notes 17 and 19. Karen has also given an unsecured concessionary loan of £20,000 to Hidden Treasure Discovery Centre CIC. 

- 12 Government grants 

The government grants recognised in the accounts were as follows: 


**----- Start of picture text -----**<br>
|||
|---|---|
|2023|
|£|
|Trafford Council|51,411|

**----- End of picture text -----**<br>


There were no unfulfilled conditions and contingencies attaching to the grants. 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

## 13 Corporation tax 

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. 

## 14 Fixed assets: tangible assets 

|Cost<br>Additions<br>Depreciation<br>Charge for the year<br>Net book value<br>At 02 September 2022<br>At 30 June 2023<br>At 30 June 2023<br>At 02 September 2022<br>Donated<br>from<br>Hidden<br>Treasure<br>Discovery Centre CIC<br>At 30 June 2023|Leasehold<br>improvements<br>£<br>-<br>113,966<br>-<br>113,966<br>-<br>5,501<br>5,501<br>108,465|Equipment<br>£<br>-<br>12,688<br>6,043<br>18,731<br>-<br>3,022<br>3,022<br>15,709|£<br>-<br>126,654<br>6,043<br>132,697<br>-<br>8,523<br>8,523<br>124,174<br>Total|
|---|---|---|---|



15 Debtors 

|Grants receivable<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>Intercompany debtors|2023<br>£<br>19,426<br>180<br>60<br>25,823<br>1,401<br>46,890|
|---|---|



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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

- 16 Cash at bank and in hand 

|Cash at bank and on hand<br>Creditors: amounts falling due within one year<br>Trade creditors<br>Short term compensated absences (holiday pay)<br>Other creditors and accruals<br>Deferred income<br>Taxation and social security costs<br>Concessionary loan|2023<br>£<br>62,708<br>62,708<br>2023<br>£<br>38,521<br>7,501<br>10,974<br>20,479<br>11,672<br>11,750<br>100,897|
|---|---|



- 17 Creditors: amounts falling due within one year 

The details of the concessionary loan are set out in note 19. 

- 18 Deferred income 

|Deferred grant brought forward<br>Grant received<br>Released to income from charitable activities<br>Deferred grant carried forward|2023<br>£<br>-<br>20,479<br>-<br>20,479|
|---|---|



Deferred grant income relates to grants given for future time periods specified by the donor. 

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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

- 19 Creditors: amounts falling after more than one year 

||2023|
|---|---|
||£|
|Concessionary loan|4,500|



A trustee has loaned the charity £20,000. This is unsecured and no interest is charged. The loan is repayable within two years. 

20 Analysis of movements in restricted funds 

|£<br>-<br>Hope Centre<br>-<br>Hope Centre - Energy<br>-<br>Total<br>_-_<br>Balance at 02<br>September<br>2022<br>Family support work<br>Family support - Dad's<br>group<br>Family support -<br>Volunteer co-ordinator|Income<br>£<br>33,630<br>3,168<br>9,551<br>93,573<br>570<br>140,492|Expenditure<br>£<br>(12,228)<br>(3,168)<br>(9,551)<br>(43,612)<br>(570)<br>(69,129)|Transfers<br>£<br>-<br>-<br>-<br>-<br>-<br>-|Balance at 30<br>June 2023<br>£<br>21,402<br>-<br>-<br>49,961<br>-<br>71,363|
|---|---|---|---|---|



Name of restricted fund Description, nature and purposes of the fund 

Family support work Grants funding the family team salaries and Special Education Needs (SEN) support including additional holiday clubs and new parenting courses. 

Family support - Dad's Grant to cover salary costs for a Dad's support worker. group Family support - Grant to cover volunteer co-ordinator salary and associated costs Volunteer co-ordinator 

Hope Centre Grants and donations specific to the Hope Centre to support local residents through the provision of low cost food, assistance with energy costs and other items of need. 

Hope Centre - Energy Individual donations specific to the Hope centre customers for energy support. 

* Hidden Treasure Trust CIO received £92,330 from Trafford Council in the period which was paid directly to other Community Hubs in Trafford who were delivering the Community Hub model. 

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Hidden Treasure Trust CIO 

## Notes to the accounts for the period ended 30 June 2023 (continued) 

21 Analysis of movement in unrestricted funds 

|General fund<br>Name of<br>General fund|Balance  at<br>02<br>September<br>2022<br>Income<br>Expenditure<br>Transfers<br>£<br>£<br>£<br>£<br>-<br>343,525<br>(284,878)<br>-<br>_-_<br>343,525<br>(284,878)<br>-<br>Description, nature and purposes of the fund<br>The free reserves after allowing for all designated funds|As at 30 June<br>2023<br>£<br>58,647<br>58,647|
|---|---|---|



- 22 Analysis of net assets between funds 

|Tangible fixed assets<br>Fixed asset investments<br>Net current assets/(liabilities)<br>Creditors of more than one year<br>Total|General<br>fund<br>124,174<br>-<br>(61,027)<br>(4,500)<br>58,647|Designated<br>funds<br>-<br>-<br>-<br>-|Restricted<br>funds<br>-<br>71,363<br>-<br>71,363|Total 2023<br>124,174<br>-<br>10,336<br>(4,500)<br>130,010|
|---|---|---|---|---|



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Hidden Treasure Trust CIO 

Notes to the accounts for the period ended 30 June 2023 (continued) 

## 23 Subsidiary - Hidden Treasure Discovery Centre CIC 

The charity aquired the subsidiary Hidden Treasure Discovery Centre CIC on 1 January 2023 becoming the sole member and person of significant control. The CIC has the company number 10778009, was incorporated on 18 May 2017 and is limited by guarantee. 

The charity is exempt from preparing group consolidated accounts for the period ended June 2023 as the parent and group below is qualify as small under FRS 102. The income and expenditure of the CIC in the period 1 January 2023 to 30 June 2023 are as follows: 

|Turnover and other operating income<br>Expenditure<br>Surplus for the period<br>Members Funds / Net assets<br>The totals owing by the subsidiary to the charity are:|2023<br>£<br>521,082<br>(517,512)<br>3,570<br>(27,525)<br>2023<br>£<br>1,401|
|---|---|



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