**Charity registration number: 285210**
**KENSAL GREEN UNDER FIVES GROUP Annual Report and Financial Statements for the Year Ended 31 March 2023**
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
**___________________________________________________________________**
||**Contents**|
|---|---|
|Trustees' Report|1|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 - 14|
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
## **Trustees’ Report for the year ended 31st March 2023**
## **___________________________________________________________________**
The Board of Trustees are pleased to submit their report and independently examined financial statements for the year ended 31st March 2023.
## **Reference and Administrative Information**
Kensal Green Under Fives Group is a local nursery providing full and part time day-care and education primarily to those from black and ethnic minority backgrounds, those on low incomes and single parents. The charity also provides early years education training and mentoring.
These financial statements comply with current Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Registered office**
130 Mortimer Road London NW10 5SN
## **Trustees**
The Trustees serving during the year and since the year end were as follows:
Cheryl Noel
Pamela Clarke Bridget Thornton
## **Bankers**
TSB Bank 58 High Street Harlesden London NW10 4LP
## **Independent Examiners**
Additude Ltd 9 Rhapsody Court Wakeman Road London NW10 5DF
## **Objects, Aims and Principal Activities**
The Charity’s principal activities are the education of children below compulsory school age, the advancement of public education of childcare and the promotion of better care and upbringing of children under compulsory school age.
## **Principal charitable activities**
The principal charitable activity of Kensal Green Under Fives Group is in seeking to meet the above aims.
Page 1
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
## **Trustees’ Report for the year ended 31st March 2023 (continued)**
## **___________________________________________________________________**
## **Public Benefit**
Kensal Green Under Fives Group carries out a wide range of activities as detailed in pursuance of its charitable aims. In setting the work programme each year the Trustees have regard to the Charity Commission’s guidance on public benefit and ensure activities we undertake are in line with our charitable objectives and aims.
The Trustees are satisfied that the Charity’s activities throughout the year provided public benefit because:
- the nursery enabled access to education to people from culturally diverse and disadvantaged backgrounds;
- feedback from participants praised the work of the Charity.
## **Review of Achievements and Performance**
In the past year we have sustained high levels of occupancy (85%) and have had very few vacancies. Attendance at parents’ meetings throughout the pandemic, and on the virtual platform Zoom, has been consistent and parents have continued to support the nursery by fundraising for resources and equipment. Staff have all completed, and gone beyond, their four day’s obligatory (Ofsted) training days. We have increased our links with other community organizations and work in partnership to do the best for our families and community (Kensal Rise Library and Elders Voice for example).The nursery was successful in its bid for NCIL grant funding of £20,000 to refurbish the outdoor space. This will make an enormous difference to the quality of play and education that the nursery can offer its children and families. With the end of lockdown restrictions the nursery resumed outings and social events (Summer BBQ, Summer Trip to the seaside, local environment).
## **Financial Review**
The statement of financial activities shows a surplus of £16,423 [2022: Deficit of £20,204] at 31 March 2023. Total funds balance at the year end, taking into account funds brought forward at the beginning of the year, included unrestricted funds of £59,334 [2022: £42,911 ], none of which were designated [2022: £0].
## **Structure, Governance and Management**
Kensal Green Under Fives Group is a registered charity.
## **Governance**
Responsible governance of the charity is exercised through the Board of Trustees who are all board members (‘the Board’). The Board is made up of independent lay members who are responsible for the conduct of charity and for ensuring that it satisfies all legal and contractual obligations. The Trustees are volunteers and are not remunerated for their time. The Board is responsible for setting the strategic direction of the charity and is ultimately accountable for how effectively the charity meets the defined aims through direct charitable activity. The Board employs staff members who support the board with strategic planning and operational activities. The Board comprises 3 Trustees who meet at least three times a year. Financial and management reports are provided quarterly to the Board of Trustees.
Page 2
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
## **Trustees’ Report for the year ended 31st March 2023 (continued)**
**___________________________________________________________________**
## _The Management Committee_
The charity has a management committee, which meets once a month. All parents and staff are encouraged to come to the meeting and to join in the discussions. The committee sets the goals, strategies and policies of the nursery, makes sure that they are put into practice, and looks at overall financial management. It also provides support for the staff and makes sure that the nursery building is being maintained. The committee members are six elected parents and up to three co-opted members. The six parents’ representatives on the committee are elected at the Annual General Meeting. From among those people elected at the Annual General Meeting three officers are elected by the members of the committee to be the Chairperson, Secretary and Treasurer. Attendance at the monthly meetings of parents remains high and parents have contributed to the nursery through their fundraising for resources. Throughout the pandemic parents have used the nursery’s virtual platform, Zoom to communicate with the nursery as well as use of EYLog (software to track the development of each child) and each other. Covid restrictions have impacted on face to face meetings in the nursery.
## **Trustee Investment powers**
Investment powers are governed by the Trust Deed. There are no restrictions on charity’s absolute powers of investment to the extent that any retained funds that arise are dealt with by depositing surpluses into the COIF Charities Deposit Fund or with authorised banks.
## **Trustee recruitment, induction and training**
The Board of Trustees has power to appoint additional Trustees as it considers fit to do so to ensure that all relevant skills and experience are represented. The appointed Trustees fulfil their duties without any term limitations. Each new Trustee is given an induction in the work of the charity and financial procedures. A Trustee shall cease to hold office if he or she (1) is disqualified for acting as a Trustee by virtue of sections 178 and 179 of the Charities Act 2011 or any statutory re-enactment or modification of that provision, (2) is no longer able to fulfil duties due to medical reasons, (3) is absent without the permission of the Trustees from all their meetings held within a period of six months, (4) notifies to the Trustees a wish to resign.
## **Management and Staffing Structure**
There were no significant changes to charity’s staffing and its structure during 2022-23. Staff turnover is not an issue for the nursery. The management structure is as follows: Manager: Margaret Bailey Two Deputies: Ms Paula Edmund and Paulette Davies
Nursery Practitioners: Four staff.
One full time member of staff retired and we plan to replace her. There are financial implications which we hope we are able to overcome by appointing an apprentice. The current nursery Apprentice has completed her Level 3 qualification and will leave the nursery in July to take up a position in a nursery closer to her home. Covid restrictions have impacted on the nursery’s ability to have students and work placements as the numbers working in the setting are restricted to comply with guidelines of social distancing and restricting contacts within the nursery.
## **Principal Risks and Uncertainties**
Page 3
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Trustees’ Report for the year ended 31st March 2023 (continued)**
**___________________________________________________________________** The Charity undertakes periodic reviews for different areas of risk including, safeguarding, OFSTED, pediatric first aid, insurance cover; health and safety policies in the workplace; financial affairs; personnel practices; ICT technology. In relation to these matters, and apart from matters completely outside the Charity’s control, the Trustees consider that the risks to which the Charity is subject have been mitigated to a satisfactory level. The charity closely manages its finances. A budget is approved before the beginning of the year. All expenditure is monitored against budget and authorised by the Nursery Manager who is responsible for ensuring that the expenditure remains within agreed limits.
## **Reserves policy**
The charity holds free reserves for a variety of purposes. In a relatively steady operating environment such purposes would include:
- a financial buffer to cushion an unexpected fall in income – in addition to the contingency contained within the charity’s operating budgets
- meeting cashflow requirements caused by delays in receipt of fee or grant income
The charity’s free reserves stood at £59,334 at 31 March 2023 (2022 - £42,911). The Trustees remain of the view that a minimum level of free reserves of £100,000, roughly equivalent to six months of core operating costs, should be maintained. In the meantime, the charity is committed to ensuring that no reduction in reserves occurs.
## **Plan for future periods**
The nursery will continue to have similar high levels of occupancy and parent involvement as these are core elements of its service provision. Plans created by the nursery with input from community support are now in place to commence the refurbishment of the outdoor space, with a Parents’ Committee set up to oversee the project. Outdoor play and learning workshops and training for parents and staff will take place to accompany the transformation of the garden.
## **Statement as to Disclosure of Information to Independent Examiner**
Each of the persons who are Trustees at the time when this report is approved confirms that:
- (a) So far as each Trustee is aware, there is no relevant audit information of which the company's independent examiner is unaware; and
- (b) to the best of their knowledge and belief, each Trustee has taken all the steps that ought to have been taken as a Trustee, including making appropriate enquiries of fellow Trustees and of the company's independent examiner for that purpose, in order to make themselves aware of any information needed by the company’s independent examiner
- in connection with preparing its report and to establish that the company's independent examiner is aware of that information.
## **Independent Examiners**
The officers of the charity have agreed to re-appoint Additude Ltd as the charity’s Independent Examiner and the proposal of this appointment will be put forward to the board at the forthcoming Annual General Meeting.
Page 4
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
**Trustees’ Report for the year ended 31st March 2023 (continued)**
**___________________________________________________________________**
Approved by the Board 20 Dec 2023 and signed on its behalf by:
......................................... ......................................... **Cheryl Noel Margaret Bailey**
Page 5
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Trustees’ Report for the year ended 31st March 2023 (continued)**
## **___________________________________________________________________**
## **Statement of Trustees’ responsibilities**
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income or expenditure, of the charitable company for that period.
In preparing these accounts, the Trustees are required to:
- select suitable accounting policies and apply them consistently
- observe the methods and principles in the Charities SORP
- make judgements and accounting estimates that are reasonable and prudent
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The Trustees are responsible for keeping proper and adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Independent Examiner’s Report to the Trustees for the year ended 31st March 2023**
## **___________________________________________________________________**
We report on the accounts of the company for the year ended 31 March 2023, which are set out on pages 7 to 14.
## **Respective responsibilities of trustees and examiner**
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of CIPFA.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Andi Dollia, CPFA** ADDITUDE LTD 9 Rhapsody Court, Wakeman Road London NW10 5DF
**Date:** 20 Dec 2023
Page 7
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Independent Examiner’s Report to the Trustees of Kensal Green Under Fives Group for the year ended 31st March 2023**
|**____________________**
**Income from:**
Note
Donations and
legacies
3
Charitable
activities
4
**Total income**
**Expenditure on:**
5
Raising funds
Charitable
activities
**Total expenditure**
**Net income**
**(expenditure)**
Transfers between
funds
Other recognised
gains/(losses)
**Net movement in**
**funds**
**Reconciliation of funds:**
**Total funds**
**brought forward**
**Total funds**
**carried forward**|**_____________**
Restricted
£
-
-
-
-
-
**-**
**-**
-
-
**-**
-
**-**|**____________**
Unrestrict
ed
£
89,236
98,877
188,113
2,324
169,366
**171,690**
**16,423**
-
-
**16,423**
42,911
**59,334**|**___________**
**2023**
**Total**
**£**
**89,236**
**98,877**
**188,113**
**2,324**
**169,366**
**171,690**
**16,423**
**-**
**-**
**16,423**
**42,911**
**59,334**|**___________**
Restricted
£
-
-
-
-
-
**-**
**-**
-
-
**-**
-
**-**|**___________**
Unrestrict
ed
£
86,040
92,238
178,278
2,630
195,852
**198,482**
**(20,204)**
-
-
**(20,204)**
63,115
**42,911**|**2022**
**Total**
**£**
**86,040**
**92,238**|
|---|---|---|---|---|---|---|
|||||||**178,278**|
|||||||**2,630**
**195,852**|
|||||||**198,482**|
|||||||**(20,204)**|
|||||||**-**
**-**|
|||||||**(20,204)**|
|||||||**63,115**|
|||||||**42,911**|
The notes on pages 9 to 14 form part of these financial statements.
Page 8
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Independent Examiner’s Report to the Trustees for the year ended 31st March 2023**
|**__________________________________________________**
**Note**
**2022**
**Fixed Assets**
Tangible fixed assets
**Current assets**
Debtors 9
Cash at bank
**Total current assets**
**Current liabilities**
amounts falling due within one year 10
**Net current assets**
**Non-current liabilities**
amounts falling due after more than one year 11
**Net assets**
**Funds**
13
Restricted
Unrestricted: General
**Total funds**|**_________________**
**2023**
**£**
**£**
- -
5,000
4,595
93,609
59,716
**98,609**
**64,311**
**24,775**
**6,900**
**73,834**
**57,411**
**14,500**
**14,500**
**59,334**
**42,911**
-
-
59,334
42,911
**59,334**
**42,911**|
|---|---|
For the year ended 31 March 2023 the charity was entitled to exemption under section 477 of the Companies Act 2006; and no notice has been deposited under section 476. No members have required the company to obtain an audit of its accounts for the year in question. The Trustees acknowledge responsibility for: i) Ensuring the company keeps accounting records which comply with section 386; and ii) Preparing financial statements which give a true and fair view of the state of affairs of the company as at the year-end in accordance with requirements of section 394 and 395, and which otherwise comply with requirements of the Companies Act 2006 relating to financial statements, so far applicable to the company. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Page 9
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
**Independent Examiner’s Report to the Trustees of Kensal Green Under Fives Group for the year ended 31st March 2023**
**______________________________________________________________________________** Approved by the Trustees on 20 Dec 2023 and signed on their behalf by:
**Cheryl Noel**
## **Margaret Bailey**
Page 10
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
**Notes to the Financial Statements for the year ending 31st March 2023**
## **___________________________________________________________________**
## **1. Accounting policies**
## **a. General information**
Kensal Green Under Fives Group is a charity, registered with the Charity Commission (charity registration number 285210).
## **b. Going concern**
The trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charity’s ability to continue in operational existence for the foreseeable future. In arriving at this conclusion, the Trustees have taken account of current and anticipated financial performance in the current economic conditions, its business plan and its reserves position. For this reason, the going concern basis continues to be adopted in the preparation of the Charity’s financial statements.
## **c. Basis for preparation**
The financial statements have been prepared under the historic cost convention unless otherwise stated in the relevant accounting policy notes and 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 1st January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The principal accounting policies that have been applied to all years presented in these financial statements are set out below.
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires Trustees to exercise their judgement in the process of applying the accounting policies. Use of available information and application of judgement are inherent in the formation of estimates. Actual outcomes in the future could differ from such estimates. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 2.
## **d. Recognition of outstanding employee benefits**
No provision for outstanding holiday pay was made under previous UK GAAP. Under FRS 102 the costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees’ services are received.
## **e. Fixed assets**
Individual fixed assets costing £2,000 or more are initially recorded at cost.
## **f. Fund accounting**
The nature and purpose of each fund is explained in Note 13 to the financial statements.
Page 11
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
**Notes to the Financial Statements for the year ending 31st March 2023 (continued)**
**___________________________________________________________________**
## **g. Financial instruments**
The only financial instruments held by the charity are debtors and creditors. These are categorised as ‘basic’ in accordance with Section 11 of FRS 102 and are initially recognised at transaction price. These are subsequently measured at their transaction price less any impairment.
## **h. Income**
Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
Donations and grants are split between restricted and unrestricted funds in accordance with the terms of the grant or donation.
Donations and gifts are recognised in the statement of financial activities when receivable. Income from government and other 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.
Donated services and facilities are included at the value to the charity where this can be quantified.
Bank interest is recognised on an accrual basis.
## **i. Expenditure**
Expenditure is included in the statement of financial activities on an accruals basis, inclusive of any VAT that cannot be recovered. It is recognised when there is a legal or constructive obligation to pay for it. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff or resources used on those activities.
## **j. Defined contribution pension scheme**
The charity operates a defined contribution scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
## **k. Leases**
Rentals applicable to operating leases are charged to the statement of financial activities over the period they are incurred.
## **l. Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Fixtures, fittings and equipment
33.33% reducing balance
Page 12
**Kensal Green Under Fives Group (Charity Reg. No: 285210)**
**Notes to the Financial Statements for the year ending 31st March 2023 (continued)**
**___________________________________________________________________**
## **m. Stock**
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
## **2. Critical judgements and estimates**
No critical judgements have been made by management in applying the charity’s accounting policies.
## **3. Donations and Legacies**
|London Borough of Brent
Grant NEG 2 & 3
Other Income and donations
**Total**|Restricted
Unrestricted
**2023**
**Total**
2022
Total
£
£
**£**
£
-
83,053
**83,053**
79,520
-
6,183
**6,183**
6,520|
|---|---|
||-
89,236
**89,236**
86,040|
There were no unfulfilled conditions or other contingencies attaching to these grants.
## **4. Income from Charitable Activities**
|Fees from parents
D.S.S. milk claims
Other Income
Total|Restricted
Unrestricted
**2023**
**Total**
2022
Total
£
£
**£**
£
-
97,676
**97,676**
85,870
-
171
**171**
187
-
1,030
**1,030**
6,181|
|---|---|
||-
98,877
**98,877**
92,238|
Page 13
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Notes to the Financial Statements for the year ending 31st March 2023 (continued)**
|**_________________**
**5.**
**Expenditure**
Staff costs (note 7)
Staff Training
Rent, Rates & Utilities
Insurance
Cleaning and
Maintenance
Office Overheads
Food and Milk
Books/Consumables
Ind. Examination fee
Professional fees
Travel and Events
Bank charges
Miscellaneous Costs
Allocation of
support costs
**Total expenditure**|**___________**
Raising
funds
1,373
-
-
-
-
-
-
-
-
-
-
-
-
**1,373**
951
**2,324**|**____________**
Charitable
activities
£
122,181
-
-
-
-
-
569
-
-
-
-
-
-
**122,750**
46,616
**169,366**|**__________**
Support
Costs
£
13,728
350
22,132
-
842
3,937
-
2,195
2,250
900
910
323
-
**47,567**
(47,567)
**-**|**__________**
**2023**
**Total**
**£**
**137,282**
**350**
**22,132**
**-**
**842**
**3,937**
**569**
**2,195**
**2,250**
**900**
**910**
**323**
**-**
**171,690**
-
**171,690**|**_______**
2022
Total
£
165,274
546
21,815
1,256
1,060
3,852
903
287
2,075
765
-
337
312|
|---|---|---|---|---|---|
||||||198,482|
||||||-|
||||||198,482|
## **6. Net income/(expenditure) for the year**
|This is stated after charging / crediting:
Depreciation
Independent Examination
No expenses were reimbursed to trustees during the year.|**2023**
**£**
**-**
**2,250**|2022
£
-
2,075|
|---|---|---|
||||
Page 14
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
**Notes to the Financial Statements for the year ending 31st March 2023 (continued)**
**___________________________________________________________________**
## **7. Staff Costs**
|Staff costs were as follows:
Salaries and wages
Social security costs
Pension contributions|**2023**
**£**
131,307
4,429
1,546
**137,282**|2022
£
156,476
6,785
2,013|
|---|---|---|
|||165,274|
## **8. Taxation**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **9. Debtors**
|Prepayments
Other debtors
**10. Creditors: amounts due within one year**
Taxation and social security
Accruals and provisions
Other creditors
**11. Creditors: amounts due after more than one year**
London Borough of Brent||**2023**
**£**
5,000
-
**5,000**
**2023**
**£**
2,285
22,490
-
**24,775**
**2023**
**£**
14,500|2022
£
4,595
-|
|---|---|---|---|
||||**4,595**|
||||2022
£
4,645
2,255
-
**6,900**
2022
£
14,500|
|||||
|||||
Page 15
**Kensal Green Under Fives Group**
**(Charity Reg. No: 285210)**
## **Notes to the Financial Statements for the year ending 31st March 2023 (continued)**
|**12. Analysis of net assets between funds**
Tangible fixed assets
Net current assets
**Net assets at the end of the year**
**13. Movements in Funds**
At the
start of
the year
**Unrestricted funds:**
General funds
42,911
**Total funds**
**42,911**|**12. Analysis of net assets between funds**
Tangible fixed assets
Net current assets
**Net assets at the end of the year**
**13. Movements in Funds**
At the
start of
the year
**Unrestricted funds:**
General funds
42,911
**Total funds**
**42,911**|**14,500**
14,500
Restricted
Funds
Unrestricted
funds
**Total funds**
£
£
**£**
-
-
**-**
-
59,334
**59,334**
**-**
**59,334**
**59,334**
Incoming
resources
Outgoing
resources
Transfers
**At the**
**end of**
**the year**
£
£
£
**£**
188,113
171,690
-
**59,334**||14,500
**Total funds**
**£**
**-**
**59,334**|
|---|---|---|---|---|
|||||**59,334**|
||**42,911**|**188,113**
**171,690**
**-**
**59,334**|||
## **Purposes of funds**
**General funds** : these are available for use at the Trustees ' discretion in furtherance of the objectives of the charity.
**Restricted funds** : these are donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 16