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2022-03-31-accounts

Company number: 1402692

Charity number: 276669

Impact Initiatives (A company limited by guarantee) Annual Report and Financial Statements – 31 March 2022

IMPACT INITIATIVES (Limited by Guarantee)

Financial Statements – 31 March 2022

CONTENTS

Page
Reference and Administrative Details 1
Trustees’ Report 2
Statement of Trustees’ Responsibilities 12
Independent Auditors’ Report 13
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cash Flows 19
Notes to the Financial Statements 20-33

REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES Neil Moscrop (Chair)
Amanda Mortensen (Resigned 07.12.21)
Cathy Bunker
Joseph Miller (Resigned 09.04.22)
Leo Jago
Ron Jenkins
Simon Knight DL
Shuvarthi Bhattacharjee (Appointed 05.07.22)
Carly Bunker (Appointed 05.07.22)
CHIEF EXECUTIVE OFFICER Caroline Ridley
COMPANYSECRETARY Emily Squires
REGISTERED OFFICE 19 Queens Road
Brighton
BN1 3XA
STATUTORY AUDITORS TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
SOLICITORS Coffin Mew
11 Prince Albert Street
Brighton
BN1 1HE
MAIN BANKERS Bank of Scotland
First Floor
8 Lochside Avenue
Edinburgh
EH12 9DJ
CHARITY NUMBER 276669
COMPANY NUMBER 1402692

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

The Trustees are pleased to present their annual report together with the financial statements of the charity for the year ending 31 March 2022 which are also prepared to meet the requirement for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

CHAIR’S REPORT

Impact Initiatives was set up 44 years ago as an innovative initiative through Brighton Free Church. A partnership that included other churches, universities and councils was developed in the area, as they all wanted to support local people in need and knew this could be most effectively done through pooling resources and skills. The organisation now works independently but the original remit of ‘filling the gaps in statutory services’ is as relevant today as it has always been.

Today Impact Initiatives manages services in Sussex for all ages; the services are all designed to bring people the support they need to live healthy and fulfilling lives through providing the right people at the right time, and through leading collaborative working to create and deliver services.

The current services cover two overarching strategic work areas:

This year has been one of embedding some of the new ways of working we developed through the Coronavirus pandemic and returning to other delivery as it was before. It has been a year of looking forward and focussing on implementing our strategy for business growth. We worked with over 8,000 people, which is a significant increase on last year and across most of our services.

The reduced Coronavirus restrictions allowed our larger events to go ahead again including the Ageing Well Festival. Both the Hop 50+ and our Young People’s centre opened to larger groups of people and the Self Advocacy Groups were able to meet in person again. At the year-end we employed 85 permanent staff, a decrease of 13% on last year. 22 were full time and 63 were part time.

Coronavirus continued to affect our finances particularly as restrictions meant lower numbers in our café and in person activities for older people for part of the year. However, we have been successful in applying for new funding for our innovation in services to continue to meet the needs of existing and new service users.

A feature of much of our work is that it is set against time limited funding. Whilst this does bring risk from our competitors for some services, it also brings opportunities to bid for work new to the organisation and to bring innovation in how services can best be developed and delivered.

Our track record in sustaining services remains very sound, and we have built our reserves to minimise the potential impact of any funding reductions. Several of our services are interlinked and so growth or reduction in one can have a knock-on effect on others. Trustees would only consider the loss of any of our services as a last resort, and so have on occasion supported services from reserves in the short term whilst alternative funding is sought.

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

We remain confident that the considerable effort being put into expansion, working collaboratively with statutory and voluntary organisations and local businesses, plus continued development in those work areas which we have a reputation to be extremely proud of, will see Impact Initiatives continue to thrive.

Neil Moscrop

Chair

OBJECTIVES AND ACTIVITIES

Summary of the objects of the charity as set out in our governing document

The objects for which Impact Initiatives is established are to promote any charitable purpose for the benefits of the inhabitants of Sussex and surrounding areas. This includes providing facilities for recreation or leisure time occupation which improve people’s quality of life.

We do this through:

Children and Young People’s Services

These provide safe places including housing where children and young people can get advice and guidance, learn new skills such as cooking, managing money, develop strategies for managing anxiety and increase their self-confidence and esteem. The services are unique and innovative and often provide a break from extremely difficult lives, with adults who will truly listen and understand and so can help children and young people to create a positive future for themselves.

Adults’ and Older People’s Services

Our services help people achieve independence through training, advocacy, one-to-one and group support. We provide specialist employment support and advocacy services which help people to be heard, find secure employment, and feel valued for their skills. We also support people on a low income to access food for themselves and their families.

Impact lead the Citywide Ageing Well service in Brighton and Hove sub-contracting to nine other organisations to provide a comprehensive easy to access range of activities information and advice.

OUR SERVICES AND WORK

The services provided during the year and included in this report are:

Children and Young People

Stopover - Supported housing for young women. We provide a safe place where young women can start to build their lives and work towards independence. This is across 9 houses which provide a pathway from high to low level support and includes two houses for young women with babies

WASP - (Whitehawk After School Project) An After School Club and Summer Holiday Play scheme in Whitehawk which is recognised as one of the UK’s more deprived areas. We provide places where children can meet their friends, learn new skills and have a great time.

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

YPC - (Young People’s Centre) Our centre provides office and meeting space for statutory and voluntary sector organisations who support young people in Brighton and Hove. Our own Youth Work Team also deliver one-to-one and small group support from here focussing on specific issues. In addition, our online counselling and youth work teams who work across East Sussex are also based at the YPC.

Adults and older people

Advocacy Services - Provide a voice to adults with Asperger’s, physical and learning disabilities acquired brain injury or sensory impairments. We do this through one-to-one advocacy, including for people with learning disabilities who are going through child care proceedings and by supporting self-advocacy groups.

Ageing Well - Impact provides leadership and overall management of a partnership of ten organisations developing and delivering support, advice and activities across Brighton and Hove.

We also provide the Hop 50+ Cafe and a wide range of activities, two Single Points of Contact for enquiries regarding older people’s services and support, (one specifically for people living with dementia), Outreach services, Nutrition advice and support and produce the annual Ageing Well Festival.

Aspie Trainers - We support the Aspie Trainers service which delivers bespoke autism training from a first-person perspective to businesses, schools and charities.

Food Support - Developed to address needs arising during the Coronavirus pandemic but which have remained, we distribute funds and food alongside support to access food through delivery or other support services.

Workability - Provides individualised one-to-one support which helps people into or to retain training and employment. We work with people with physical or sensory impairments and acquired brain injury to identify their skills and find and maintain the right employment for them.

ACHIEVEMENTS AND PERFORMANCE

REVIEW OF THE YEAR

At the start of the year the Trustees and management undertook to:

To ensure we remained aligned with local and national guidelines and regulations as well as the needs and preferences of our service users. To also work with partners to ensure best use of skills networks and resources.

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

To build on the strengths of our current Board of Trustees and actively seek others to fill any gaps identified including recognising the need for diversity within the Board of Trustees.

How the year compared to the plans and aspirations?

We have remained focussed on our business plan throughout a further unprecedented year that Coronavirus presented us with. We have developed all areas of the business, moving to a hybrid of online and face-to-face service delivery. Towards the end of the year we increased our faceto-face work while reducing our online services although preserving the value and learning from this way of supporting people where that was more appropriate. We have stepped in to fill gaps identified as needed through working with our statutory and voluntary sector partners.

We have progressed delivery of our Funding and Income Generation Strategy and implementation plan which brings clarity and innovation to building our free reserves. This included reviewing the organisations use of our physical assets, including buildings, and investing in bringing improvements to these to maximise value and income.

We have sought and developed opportunities for new work which will be ongoing. We have taken learning and new ways of working and embedding some into our ongoing service delivery

We have further developed our investment in identifying gaps in our diversity and inclusion across the organisation including at Board level. Policies, documents including those used for recruitment have been amended in line with research and learning and we have reviewed our branding and appearance of the organisation to reflect this.

MAIN OR SIGNIFICANT ACHIEVEMENTS OF OUR SERVICE TEAMS

Children and Young People’s services:

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

Adults and Older People

OUR VOLUNTEER SUPPORT INCLUDED

Children and Young People:

Adults and older people:

Other volunteer support

Informal volunteers and support provided by local businesses, helped us to fundraise; design marketing materials and build a bank of images to use to promote the organisation and provide events in the Ageing Well Festival.

Our Trustees worked over 400 hours through attending board and finance committee meetings, and external networking to raise the profile of the organisation and encourage new supporters. Trustees were also involved in planning and implementing our risk assessing and response to Coronavirus across the organisation.

FINANCIAL REVIEW

Income increased during the year to £2,502,702 from £2,476,443 in 2021/22. This increase can be attributed to a new stopover house that was opened during the year, and the cafes and services slowly getting back up to capacity after some coronavirus restrictions ended. There was also further grant income received for ASPIE trainers and the food access scheme.

At the beginning of the 2021/22 year a deficit of £2,355 was forecast. The actual result was a surplus of £117,492. The Improvement during the year was largely due to extra grant income and increase in variable income as mentioned, and due to cost savings and timing of expenditure during the year.

At the beginning of the financial year 2022/23 a deficit of £51,688 was budgeted. This is based on confirmed income at the beginning of the year and a prudent budget for expenditure.

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

The charity remains positive in its search for new funding and will consider working with partners without compromising its financial integrity. Rigorous cost control remains in place in all of our projects.

We have a clear plan for the future of the organisation including realistic development of services and new projects which meet the objectives of Impact Initiatives whilst support those of the city, district and county councils and trusts.

Policy on reserves and reserves held

Impact Initiatives aims to establish liquid reserves at a level that would represent at least three months' overall running costs, in addition to the security of its freehold premises in Ship Street. This amounts to approximately £554,261. This will enable the charity to cope with any periods of unexpected turbulence and have the flexibility to undertake research and other types of work to further its aims in the future. Financial policies and procedures form the framework upon which decisions for expenditure are made.

At the end of the year the free reserves, as defined by the Charity Commission, showed a surplus of £370,882. This figure is derived from the General unrestricted funds of £590,563 plus the mortgage on the property of £385,747, less the net book value of our assets, £605,428.

Although the strategy is to continue to build reserves through planned operating surpluses, the Trustees are aware that it may take a little longer during the next few years whilst the financial situation is unstable.

Going concern and cash flow

Although Impact Initiatives have made a surplus in this financial year, we are forecasting a deficit for 2022/23, there are steps being taken and funding opportunities being sought to improve the result as the year progresses, the Trustees are confident that going forward there will be a return to an operating surplus in the future.

Going concern has been reviewed in detail in light of the uncertainty relating to Coronavirus. Cashflow forecasts for longer periods are being reviewed on a regular basis. The key issue for the Trustees is cash flow and the ability of Impact Initiatives to continue to pay its liabilities as they fall due. The Trustees expect liabilities to be met as they arise. The position is reviewed on a month by month basis, and should this situation change then the Trustees would take the appropriate steps. The Trustees are confident that the charity will remain a going concern for the foreseeable future, and these financial statements have therefore been prepared on a going concern basis.

PLANS FOR FUTURE PERIODS

Plans for the forthcoming year

The strategic plan will be implemented and will include developments in our existing services alongside new projects.

Throughout 2022-2023 we will:

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

We will be pro-active in filling gaps identified to build on the strengths of our current Board of Trustees including addressing the need for further diversity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal Constitution

The charity was incorporated on 29 November 1978 as a company limited by guarantee and is governed by its Memorandum and Articles of Association. The charity is limited by guarantee and has no share capital.

The charity was registered with the Charity Commission on 30 April 1979 under registration number 276669. The charity changed its name from PACT Community Projects Ltd to Impact Initiatives with effect from 26 November 2002.

Organisational structure and how decisions are made

The CEO and Management Team (MT) conduct the day to day business of the charity, reporting quarterly to the Trustees. A number of Trustees assist the MT either directly or through both longand short-term working groups.

The Central team provides back-office infrastructure support and management, ensuring our services deliver frontline support effectively and efficiently, and that they comply with their contractual and legal requirements and funders' needs.

We have a clear policy and procedure laying out how we manage financial risk and who is responsible for agreeing and signing off financial agreements.

Impact Initiatives Central Team provides management of and support for finance, information technology, human resources, administration and fundraising. This is a cost-effective way of the

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

services having consistent professional support and enables them to focus on the service provision.

Governance

Impact Initiatives is a regional charity, with substantial legal and contractual liabilities, and needs to operate at a similar level of experience and efficiency as a complex commercial business. The board of Trustees is ultimately responsible for the organisation. Good governance demands that the Trustees set clear aims and objectives, establish priorities, safeguard the charity’s assets and use them effectively and exclusively for the benefit of the organisation’s beneficiaries.

The Board of Trustees consists of up to 18 individuals, appointed by the members in general meeting, and can include a chair and vice chair. The board of Trustees has the power to appoint individuals to the board either to fill a casual vacancy or as an addition to the board. Emergency decision procedures are in place, which always involve the chair plus a second trustee.

The Trustees have also adopted the Model Code of Conduct developed by The National Council of Voluntary Organisations.

The Trustees meet in full session every three months, providing clear direction and overview of the organisation's operation and compliance with agreed strategies and business plan. The finance committee, which all Trustees are invited to attend, meets as required. In addition, the chair meets regularly with the CEO.

The Trustees set out on page 1 have held office during the whole period from 1 April 2019 to the date of this report, unless otherwise stated. In accordance with the Articles of Association, one third of the Trustees retire annually and are eligible for re-election at the annual general meeting.

Each member has agreed to contribute £1. All Trustees are members.

Recruitment, induction and training of Trustees

Impact Initiatives Diversity and Inclusion policy applies to the recruitment of Trustees except where specialist knowledge or skills, or representation of a geographic area, has been identified to enhance the capacity of the board. In these circumstances’ individuals with appropriate skills or background would be approached directly. We continue to work to encourage service users, or those with direct experience and understanding of the issues our service users face, to become Trustees. New Trustees are recommended for appointment by the chair and adopted subject to their appointment being confirmed at the annual general meeting. The board’s performance is reviewed annually by the chair. Trustees are offered internal training and the opportunity to attend relevant seminars or presentations directed at the voluntary sector during the year. All are encouraged to attend the briefing by the Finance Manager and auditors and adoption of the annual accounts.

Key risks to Impact’s business continuity are:

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

We have a clear risk management policy and disaster recovery plans for the organisation and individual services which are reviewed annually. Any changes in the level of risk in any of these areas is approached and managed as set out below.

Our Business continuity plan was tested and proved effective throughout this year when Coronavirus restrictions changed how we could deliver our services. Working from home has continued for some staff with many continuing with hybrid working.

The Finance Committee is advised of any major risks to the organisation, the risk register is updated and presented to the board by the CEO each six months or more often as required. Where risks are identified a plan is agreed to minimise them and any necessary controls identified and put in place along with a monitoring process.

Potential new services and projects are risk assessed prior to committing to the submission of tender documentation or legally binding costs being incurred.

The Trustees’ risk management strategy comprises of the following:

The Trustees recognise that systems can only provide reasonable assurance that major risks are being adequately managed.

The main objectives for this year were to:

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

These have been achieved for the organisation through forward planning, increased networking and profile raising and partnership building

Pay policy for senior staff

The board of directors, who are the charity’s Trustees, and the Chief Executive Officer comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 12 to the accounts.

The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings.

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IMPACT INITIATIVES (Limited By Guarantee)

Trustees Report For the Year Ended 31 March 2022

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The law applicable to charitable companies in England and Wales requires the Trustees, who are also the directors of the charity, to prepare financial statements for each year which give a true and fair view of the state of the charity’s financial activities during the year and of its financial position at the end of the year.

In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. 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.

Disclosure of information to auditors

Each trustee has taken all steps that they ought to have taken in order to make themselves aware of any information relevant to the audit, establish that auditors are aware of that information and that there is no information relevant to the audit of which the charity company’s auditors were unaware.

Public Benefit statement

The Trustees have reviewed the objectives and activities of the organisation against the Charity Commission’s guidance on public benefit and are satisfied that the organisation meets the public benefit criteria.

Auditors

A resolution to reappoint TC Group will be proposed at the forthcoming Annual General Meeting. This report has been prepared in accordance with the small companies’ regime of the Companies Act 2006.

Approved by the Trustees on 30.09.2022, and signed on their behalf by Neil MOSCROP as chair.

N Moscrop (Chair)

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IMPACT INITIATIVES (Limited by Guarantee)

Auditors Report For the Year Ended 31 March 2022

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF IMPACT INITIATIVES

We have audited the financial statements of Impact Initiatives (the ‘charitable incorporated organisation’) for the year ended 31 March 2022. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable incorporated organisation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable incorporated organisation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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IMPACT INITIATIVES (Limited by Guarantee)

Auditors Report For the Year Ended 31 March 2022

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Charities Act 2011

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable incorporated organisation and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable incorporated organisation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable incorporated organisation or to cease operations, or have no realistic alternative but to do so.

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IMPACT INITIATIVES (Limited by Guarantee)

Auditors Report For the Year Ended 31 March 2022

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditorsresponsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

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IMPACT INITIATIVES (Limited by Guarantee)

Auditors Report For the Year Ended 31 March 2022

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable incorporated organisation’s members, as a body, in accordance with section 44 (1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable incorporated organisation’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable incorporated organisation and the charitable incorporated organisation’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Cummins FCCA (Senior Statutory Auditor) For and on behalf of TC Group Statutory Auditors Office: Steyning

Dated: 5 October 2022

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IMPACT INITIATIVES (Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account)

For the Year Ended 31 March 2022

Notes Unrestricted Unrestricted Unrestricted Unrestricted Restricted Restricted Restricted 2022 Total
Funds		 2022 Total
Funds		 2022 Total
Funds		 2022 Total
Funds		 2021 Total
Funds		 2021 Total
Funds		 2021 Total
Funds
£ £ £ £
INCOME from:
Voluntary income 4 36,899 61,934 98,833 246,200
Activities for raising funds 5 137,565 910 138,475 69,990
Charitable activities 6 2,221,909 43,464 2,265,373 2,160,225
Investment Income 21 - 21 28
Total income 2,396,394 106,308 2,502,702 2,476,443
EXPENDITUREon: 7
Raisingfunds 31,136 - 31,136 21,189
Charitable activities 2,239,071 115,003 2,354,074 2,365,924
Total expenditure 2,270,207 115,003 2,385,210 2,387,113
Net income/(expenditure) and net
movement in funds for the year		 126,187 (8,695) 117,492 89,330
Reconciliation of funds
Transfers - - - -
Total funds brought forward 464,376 65,478 529,854 440,524
Total funds carried forward 20 590,563 56,783 647,346 529,854

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

All activities are classified as continuing. There are no recognised gains or losses other than those reported on the Statement of Financial Activities

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IMPACT INITIATIVES (Limited by Guarantee)

Balance Sheet at 31 March 2022

Notes 2022 2021 2021
£ £ £ £
FIXED ASSETS
Tangible assets 15 605,428 628,189
CURRENT ASSETS
Debtors 16 92,888 97,680
Cash at bank 471,930 319,330
564,818 417,010
CREDITORS
Amounts falling due within one
year		 17 (137,153) (118,049)
NETCURRENT ASSETS 427,665 298,961
TOTAL ASSETS 1,033,093 927,150
CREDITORS
Amounts falling due after one year		 18 (385,747) (397,296)
NET ASSETS 647,346 529,854
The funds of the charity:
Unrestricted income funds 20 590,563 464,376
Restricted income funds 20 56,783 65,478
Total charity funds 647,346 529,854

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to the members of the charitable company.

The notes at pages 19 to 33 form part of these accounts

Approved by the Trustees on 30.09.2022 and signed on their behalf by;

N D Moscrop Chair

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IMPACT INITIATIVES (Limited by Guarantee)

Company number 1402692

Statement of Cash Flows For the year ended 31 March 2022

Notes Notes 2022 2021
£ £
Net cash inflow/(outflow) from
operating activities		 24 181,974 134,299
Cash flows from investing activities
Interest income 21 28
Interest Paid (17,846) (18,156)
Net cash provided by/ (used in)
investing activities		 (17,825) (18,128)
Cash flows from financing activities
Mortgage (11,549) (11,002)
Net cash provided by financing
activities		 (11,549) (11,002)
Change in cash and cash equivalents
in the year		 152,600 105,169
Cash and cash equivalents at the
beginning ofthe year		 319,330 214,161
Cash and cash equivalents at the
**end of the year **		 471,930 319,330
Analysis of cash and cash equivalents At 1 April
2021		 Cash flow Non-cash
changes		 At 31
March
2022
£ £ £ £
Cash at bank and in hand 319,330 152,600 - 471,930

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IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

1 STATUTORY INFORMATION

Impact Initiatives is a charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number and registered office address can be found on the legal and administrative information page.

2 ACCOUNTING POLICIES

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

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) – Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Impact Initiatives 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(s). There are no material uncertainties about Impact Initiatives ability to continue as a going concern, this takes into account any known impact of the Covid 19 pandemic.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

b) Income recognition policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met (see note 19).

c) Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

20

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised. The Trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

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), the general volunteer time of the Friends is not recognised and 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.

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.

g) Expenditure

Expenditure is recognised on an accruals basis with the irrecoverable element of value added tax included within the item of expense to which it relates.

Costs of generating voluntary income include fundraising and publicity costs attributable to the raising of all voluntary income.

Fundraising trading: cost of goods sold and other costs include the cost of running the cafes at Hop50+.

Charitable activities costs include the direct and indirect running costs of the various projects.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

21

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

Support costs represent the running costs of a central office to manage and administer the projects including the functions of general management, payroll and administration, budgeting and accounting, information technology and human resources. They are allocated across the categories of charitable expenditure and projects on a proportion of time spent upon them.

h) Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Asset Category Annual rate Freehold property 2% Computer equipment 33.3% Motor vehicles 10%

i) Operating leases

Rental costs under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

j) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

k) 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.

l) 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.

m) Pension costs

Contributions payable to the company’s pension schemes are charged to the Statement of Financial Activities in the period to which they relate (see note 23).

22

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

3 LEGAL STATUS OF THE CHARITY

The Charity is a company limited by guarantee and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The authorised membership of the charity is 500. At 31 March 2022, the membership was 19 (2021 - 19).

The Charity is under the control of the Trustees.

4 VOLUNTARY INCOME

2022 Total 2021 Total
Unrestricted Restricted funds funds
£ £ £ £
Donations 6,642 22,593 29,235 28,819
Grants 30,257 39,341 69,598 217,381
36,899 61,934 98,833 246,200

The Charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

5 ACTIVITIES FOR RAISING FUNDS

2022 Total 2021 Total
Unrestricte Restricted funds funds
d
£ £ £ £
Accommodation and room hire 42,320 - 42,320 34,510
Fees for services 65,648 - 65,648 25,236
Catering receipts 25,302 - 25,302 7,687
Fundraising events 4,295 910 5,205 2,557
137,565 910 138,475 69,990

23

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

6 INCOME FROM CHARITABLE ACTIVITIES

Age UK
Aldingbourne Trust
Brighton & Hove City Council
Brighton & Hove Clinical Commissioning Group
Childrens Social Work Services
Children in Need
Horsham District Council
London Leaning Consortium
Sussex Community Foundation
West Sussex County Council
National Lottery – Homeless Link
NHS East Sussex CCG
Pohwer
Housing Support
Rent and amenities
Client contributions		 2022 Total
2021 Total
£
£
6,250
27,880
162,497
159,703
827,041
754,559
-
9,800
-
250
34,733
37,366
2,500
12,500
8,731
-
71,500
71,500
251,829
277,554
-
50,500
70,000
70,000
48,960
48,960
132,338
132,338
637,858
502,999
11,136
4,316
2,265,373
2,160,225

24

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

7 ANALYSIS OF ACTIVITIES AND SUPPORT COSTS

Costs of raising funds
Voluntary income
Financing Costs
Fundraising trading
Total costs of
generating funds
Charitable activities
Activities undertaken
directly
Payments to partners
Support costs
Total charitable
activities
Governance costs
Total resources
expended		 Staff
Costs
Depreciation
£
£
-
-
-
-
-
-
-
-
1,125,832
-
-
-
219,604
22,761
1,345,436
22,761
-
-
1,345,436
22,761		 Other
Costs
£
13,038
17,846
252
31,136
454,621
432,286
89,538
976,445
9,432
1,017,013		 2022
Total
£
13,038
17,846
252
31,136
1,580,453
432,286
331,903
2,344,642
9,432
2,385,210		 2021
Total
£
2,781
18,156
252
21,189
1,652,195
401,766
303,580
2,357,541
8,383
2,387,113

Governance costs comprise audit & accountancy fees for the year together with AGM costs.

Payments to partners relates to payments made to partner organisations. The Ageing Well Contract is a collection of 8 charities who deliver older people services across Brighton & Hove including the HOP 50+. Impact Initiatives co-ordinates and manages the funding for these organisations. Other payments to partners relates to payments made out from the Sussex Community Foundation funding which Impact Initiatives manage the funding for.

8 SUPPORT COSTS

Cost of Charitable Govern- 2022 Total 2021 Total
raising activities ance
funds Costs
£ £ £ £ £
Human resources 2,869 215,866 869 219,604 188,566
Establishment costs 1,021 76,792 309 78,122 78,937
Office and administration 446 33,596 135 34,177 36,077
4,336 326,254 1,313 331,903 303,580

All support costs are based on a project by project management review of estimated usage of central staff time.

25

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

9 NET INCOME/(EXPENDITURE) FOR THE YEAR

2022 2021
£ £
This is stated after charging:
Depreciation of tangible fixed assets 22,761 23,181
Auditors’ remuneration 9,432 8,383
Amounts payable under operating leases, land and
buildings 263,650 204,942
10 ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION AND EXPENSES
2022 2021
£ £
Salaries 1,232,856 1,254,084
Social security costs 90,677 86,619
Pension contributions 21,903 20,682
1,345,436 1,361,385

One employee received remuneration in excess of £60,000 (2021 - 1).

The total employment costs (including employers national insurance and pension contributions) of Senior Management was £73,996 (2021 - £71,133).

None of the Trustees received remuneration from the charity during the year (2021 – £nil). A total of £71 was paid to Trustees during the year as reimbursement of travel expenses (2021 – £nil). No amounts were due to or from the Trustees at the balance sheet date (2021 - £nil).

11 STAFF NUMBERS

The average monthly head count was 90 staff (2021 - 104 staff) and the average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

2022 2021
Number Number
Administration 6 5
Project staff 39 46
45 51

The charity participates in an insurance policy which protects the charity from loss arising from the negligence of its employees and indemnifies employees against the consequences of such negligence. The cost to the charity of this insurance was £10,445 (2021 - £10,843).

12 RELATED PARTY TRANSACTIONS

There were no related party transactions during the year to report.

26

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

13 GOVERNMENT GRANTS

Income from government grants comprises performance related grants made by local authorities to fund specific projects’ activities. See note 6 for more information and to the amount and source of these grants.

During the year the charity received funding through the Coronavirus Job Retention Scheme totalling £2,150 (2021-£74,072).

14 TAXATION

The charitable company is registered as a charity and most of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010. It does have some non-primary purpose trading income which falls above the small trading threshold and is liable to corporation tax on any profits made.

15 TANGIBLE FIXED ASSETS

Freehold
Property
Motor
Vehicles
Computer
Equipment
£
£
£
COST
At April 1 2021
752,550
77,102
18,170
Additions
-
-
-
Disposals
-
-
-
At 31 March 2022
752,550
77,102
18,170
ACCUMULATED DEPRECIATION
At April 1 2021
175,216
26,247
18,170
Charge for year
15,051
7,710
-
Disposals
-
-
-
At 31 March 2022
190,267
33,957
18,170
NET BOOK VALUES
At 31 March 2022
562,283
43,145
-
At 31 March 2021
577,334
50,855
-		 Totals
£
847,822
-
-
847,822
219,633
22,761
-
242,394
605,428
628,189

27

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

16 DEBTORS

Debtors
Other debtors
Prepayments
Accrued Income
17 CREDITORS: Amounts falling due within one year
Deferred income (see note 19)
Creditors and accruals
VAT
Mortgage
Income tax and social security payments
18 CREDITORS: Amounts falling due after one year
Mortgage – repayable within:
1 to 2 years
2 to 5 years
Over 5 years		 2022
£
66,878
3,105
3,650
19,255
92,888
2022
£
26,028
55,956
8,081
11,549
35,539
137,153
2022
£
12,018
39,378
334,351
385,747		 2021
£
81,609
2,537
-
13,534
97,680
2021
£
11,028
65,594
8,013
10,910
22,504
118,049
2021
£
11,549
37,690
348,057
397,296

On 19[th] July 2018 a charge was made against the YPC building on Ship Street for a mortgage to purchase the property in St Andrews Road. The mortgage term is 25 years and the rate of interest is 4.4% per annum.

19 DEFERRED INCOME

The deferred income included in note 17 above is broken down as follows:

2022
£
Deferred income at 1 April 2021 11,028
Released in the year (11,028)
Deferred in the year 26,028
Deferred income at 31 March 2022 26,028

28

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

20 ANALYSIS OF CHARITABLE FUNDS

Analysis of movements in unrestricted funds

Balance
at 1 April
2021		 Balance
at 1 April
2021		 Balance
at 1 April
2021		 Incoming
Re-
sources		 Incoming
Re-
sources		 Incoming
Re-
sources		 Outgoing
Project
Costs		 Outgoing
Project
Costs		 Support
Costs		 Transfers Transfers Transfers Balance
at 31st
March
2022
£ £ £ £ £ £
General fund 449,614 25,736 (275,266) 226,264 149,951 576,299
Hop50+ - 94,044 (221,679) (33,916) 161,551 -
AgeingWell - 760,374 (531,109) (20,305) (208,960) -
Food Access - 51,386 (27,794) (4,619) (18,973) -
Advocacy - 248,446 (226,697) (22,746) 997 -
Advocacy Brighton - 50,171 (43,957) (4,389) (1,825) -
Aspie Trainers - 14,056 (12,677) (1,379) -
Workability West
Sussex		 - 163,490 (140,940) (14,094) (8,456) -
Wasp - 16,637 (2,621) (9,353) (4,663) -
YPC - 200,909 (184,591) (24,669) 8,351 -
Stopover - 771,145 (602,378) (90,794) (77,973) -
449,614 2,396,394
(2,269,709)		 - - 576,299
IT Replacement fund 9,792 (498) - - 9,294
Dilapidation fund 4,970 - - - - 4,970
464,376 2,396,394 (2,270,207) - - 590,563

The General fund is funded by income from the charity’s projects. The Trustees have approved the transfer of the balance on each project’s result to the General fund to reflect the ongoing reality of the charity's day to day funding. Details of these projects can be found in the Trustees’ Annual Report starting on page 1.

The IT Replacement fund has been set up to upgrade hardware and software as required across the whole organisation.

The Dilapidations reserve has been set up to ensure the charity has the funds in place to meet our responsibilities of redecoration and cyclical repairs at the Stopover properties and for refurbishment work on the Ship Street building.

29

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

20 ANALYSIS OF CHARITABLE FUNDS – continued

Analysis of movements in restricted funds

Balance at
1st April
2021		 Balance at
1st April
2021		 Balance at
1st April
2021		 Incoming
Re-sources		 Incoming
Re-sources		 Incoming
Re-sources		 Outgoing
Project Costs		 Outgoing
Project Costs		 Outgoing
Project Costs		 Balance at
31stMarch
2022		 Balance at
31stMarch
2022		 Balance at
31stMarch
2022
£ £ £ £
Hop50+ 763 5,282 (6,045) -
Day Centre Fund 42,452 - (7,710) 34,742
AspieTrainers - 8,731 (1,114) 7,617
Advocacy - 918 (918) -
Wasp - 59,733 (59,733) -
Food Access - 3,000 (3,000) -
YPC 9,462 25,730 (29,692) 5,500
YPC Restoration Fund 12,801 - (3,877) 8,924
Stopover - 2,914 (2,914) -
65,478 56,783

Restricted funds are funds that can only be used for specific purposes within a particular service.

HOP50+ balance is made up of refurbishment fundraising

The Day Centre Fund is 2 minibuses which were donated by the Valerie Munday Trust for use in any of our day centre services.

The ASPIE Trainers comprises grant income from London learning consortium which was unspent at the year end.

Stopover and Advocacy income consist of donations during the year.

The Wasp restricted fund consisted of a grant from Children in Need, funds received from City Academy, Whitehawk and £20,000 was kindly donated by Space Doctors a Hove based semiotics company. The remainder consists of fundraising or donations income.

The YPC restricted fund relates to unspent grant income that had not been spent by the end of the year.

The YPC Restoration Fund is a grant from Garfield Weston Memorial Fund which was awarded to renovate the building on Ship Street.

30

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

21 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Funds		 Unrestricted
Funds		 Unrestricted
Funds		 Restricted
Funds		 Restricted
Funds		 2022
Total		 2022
Total		 2021
Total
£ £ £ £
Fund balances at 31 March
2022are represented by:
Tangiblefixed assets 562,283 43,145 605,428 628,189
Net current assets/(liabilities) 28,280 13,638 41,918 (98,335)
590,563 56,783 647,346
529,854

22 COMMITMENTS UNDER OPERATING LEASES

At 31 March 2022, the charity was committed to making the following payments:

Operating leases which expire:
Within one year
Between 2 and 5 years		 2022
£
16,746
-
16,746		 2021
£
16,746
-
16,746

The charity has rental commitments on seven houses within its Stopover service. The contracts have a 6-month notice clause from each party. The figures above do not include these commitments.

23 PENSION COMMITMENTS

The charity operates a group of defined contribution schemes with funds assigned for individual members. The assets of these schemes are held separately from those of the charity in independently administered funds. The contributions payable at the year-end were £nil (2021 - £4,549). Contributions paid during the year amounted to £64,412 (2021 - £50,420)

31

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

24 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net movement in funds
Add back depreciation charge
Deduct interest income shown in investing activities
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Finance cost
Net cash used in operating activities		 2022
£
117,492
22,761
(21)
4,792
19,104
17,846
181,974		 2021
£
89,330
23,181
(28)
56,191
(52,531)
18,156
134,299

32

IMPACT INITIATIVES (Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022

25 ANALYSIS OF PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES BY FUND

Statement of Financial Activities (including Income and Expenditure Account)

For the Year Ended 31 March 2021

Notes Unrestricted Unrestricted Unrestricted Unrestricted Restricted Restricted Restricted 2021 Total
Funds		 2021 Total
Funds		 2021 Total
Funds		 2021 Total
Funds		 2020 Total
Funds		 2020 Total
Funds		 2020 Total
Funds		 2020 Total
Funds
£ £ £ £
INCOME from:
Voluntary income 4 140,194 106,006 246,200 121,607
Activities for raising funds 5 67,624 2,366 69,990 267,953
Charitable activities 6 2,072,359 87,866 2,160,225 2,022,272
Investment Income 28 - 28 71
Total income 2,280,205 196,238 2,476,443 2,411,903
EXPENDITUREon: 7
Raisingfunds 21,189 - 21,189 31,884
Charitable activities 2,117,494 248,430 2,365,924 2,271,114
Total expenditure 2,138,683 248,430 2,387,113 2,302,998
Net income/(expenditure) and net
movement in funds for the year		 141,522 (52,192) 89,330 108,905
Reconciliation of funds
Transfers - - - -
Total funds brought forward 322,854 117,670 440,524 331,619
Total funds carried forward 20 464,376 65,478 529,854 440,524

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