Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Trustees Report and Financial Statements 2023 - 2024
Centre 70, 46 Knights Hill, West Norwood, SE27 0JD
Registered Charity No. 296020 Registered Company No. 2087528
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## **Centre 70 Trustees Report and Financial Accounts**
## Contents
Introduction ...........................................................................................................................................................2 Chair’s Report .......................................................................................................................................................2 Purpose and Outcomes ......................................................................................................................................3 Charitable Activities .............................................................................................................................................3 Structure, Governance and Management ......................................................................................................9 Financial position ................................................................................................................................................12 Independent examiners report ………………………………………………………………………………………14 Statement of financial activities ……………………………………………………………………………………..15 Balance sheet …………………………………………………………………………………………………………...16 Statement of cash flows ……………………………………………………………………………………………….18 Notes to the financial statements …………………………………………………………………………………...19
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Introduction
The trustees of the charity who are directors for the purposes of the Companies Act 2006 present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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
During the last year Centre 70 has offered a huge level of support for clients experiencing multiple housing, social and financial hardships and mental health challenges. The cost-of-living crisis, which continues to affect our local community, has made huge demands on our services. Its impact is especially acute on people who were in difficult and vulnerable situations beforehand. It is in times of crisis that organisations like Centre 70 and everyone who works, volunteers and supports it are needed most, and we would like to thank everyone who continues to contribute to the positive change Centre 70 enables. The funds and donations we receive are needed more than ever at this time, and we remain very grateful to all our funders, donors and supporters.
Our Advice Services have continued to support work across housing, benefits, debt, utilities, and student finance. We continue to help people in these areas and signpost on to other sources of support where the expertise or funding exists externally.
Regrettably however, we report that for operational reasons the difficult decision was made in July 2023 to suspend the Monday evening legal advice sessions given by volunteer lawyers. Clients who cannot be advised by our other staff are being signposted to suitable alternative legal advisors.
In terms of funding we are glad that Norwood and Brixton Foodbank received more funding through the Trussell Trust enabling us to continue providing outreach advice. However, we are sad to report that we have been negatively impacted when Lambeth Council’s advice commissioning process was delayed and then adapted to a grants scheme. This regrettable change resulted in a loss of over £100,000 of expected income in the 2024/2025 year towards our much-needed advice services. From April 2023 many of Lambeth Council Tenants have faced an over 300% rise in their heating and hot water costs and we have made multiple representations to the Council and Councillors.
A priority for Centre 70 is to maintain staff pay at the level required to retain our incredible team in the face of these changes, while continuing to offer as much support as possible. We are currently reviewing our operating model to accommodate these changes,and seek further funding to make sure we can keep pace with the challenge of rising costs.
Given the challenges faced both by our community and by our organisation, we are glad that our Counselling and Wellbeing Service has continued to grow and enable positive change. Further funding from Henry Smith Charity has enabled us to keep our Inspire Project this year and our National Lottery funded Wellbeing Project has continued to grow, introducing a new peer support group for men, “ChatManDo” and a movement workshop to our existing support groups, as well as providing free and low cost counselling to those who need it the most.
In terms of staff, we welcomed a new Counselling and Wellbeing Service Manager, Gabriella Andronico this year, as we said goodbye to Dominic Cookson after 5 years in the role for which we extend our thanks. Gabriella, a former supervisor on our team, has brought many insights and a steady hand to our BACP accredited counselling provision from her extensive frontline experience. Our former Service Administrator Nunzia Delle Donne has stepped up to provide maternity cover in the role of the Wellbeing and Inspire Project Co-ordinator, as Rosie Trustram began parental leave to welcome her new twins. Congratulations are in hand for them both, as well as Teah Powell, who we welcomed as a new Administrator. Their work means that we can continue to provide counselling and wellbeing initiatives in the community to help people facing multiple disadvantages who would have found it difficult to access this support elsewhere.
More milestones we are proud to celebrate this year include 40 years of service from Mark Batten MBE, our Head of Advice Services. We cannot thank Mark enough for his commitment and hope he may long be able to continue his vital work at Centre 70. We also wish our former solicitor Pat Wilkins all the very best with her
2
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
retirement, after over 11 years with us, supporting legal aid and access to justice with the team. Congratulations are also in hand for our housing caseworker Victoria Taylor, who will be moving on to train as a barrister after supporting complex legal work for clients in Lambeth.
The trustees also remain grateful for the time and effort given by our volunteers to support our work. Their invaluable skills and commitment are integral to our efforts to help our community. We wish to thank our tireless staff in all they do, and of course are grateful as always to Centre 70 Director Brian Foxley and managers Mark Batten and Gabriella Andronico for supporting the whole team.
Finally, thanks to Liz Woodroffe and Alison Julal who have stepped down as trustees. We are now seeking applications for a new Chair and new trustees to support us navigate and meet the increasing demands on our services, within an ever more constricted funding landscape. We would also welcome applications to grow our legal team. As ever, we especially welcome volunteers who have skills and experience to aid our mission, especially those from anyone with lived experience of the issues that we at Centre 70 help resolve, and anyone who has skills and experience to aid our mission. Please visit our website to learn more, and sign up to our e- newsletter to remain updated: https://centre70.org.uk
## Purpose and Outcomes
The object of the charity is to support the people who live and work in Lambeth and adjoining boroughs by helping them to cope with a wide range of social, domestic and financial problems and by offering the help (whether in the form of advice, psychotherapeutic counselling and wellbeing services) to improve the quality of their lives.
Our services are reviewed regularly to reflect local needs and to conform to the highest standards. Stakeholders, including clients, are consulted and participate in developing our work, with some services coproduced with clients.
Our vision: Communities where everyone has access to the support they need to overcome adversity in their lives so they can thrive.
Our mission: Centre 70 supports and works alongside those who are facing social, mental, financial or other personal difficulties at our centre, and out in the community, through a holistic programme of free and affordable services including: expert advice; counselling & wellbeing activities; training and advocacy.
Our values: We are passionate, inclusive, responsive and community focussed
Our impact: We increase access to rights and entitlements, improve mental health and wellbeing and enhance access to life opportunities.
The impact of Centre 70’s services is regularly reviewed in relation to our outcomes framework. Emerging trends are also identified and new services developed to meet these needs, for example the recent expansion of our wellbeing services. Accessibility of services is reviewed regularly and changes made accordingly.
## Charitable Activities
Centre 70 delivers a wide range of services to meet local needs as set out below.
## Advice and Advocacy
- Housing - Possession & eviction; Homelessness; Disrepair
- Benefits - Checks and advise on entitlements; Challenging decisions
3
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
- Debt – Money management help, Budgeting, Income maximisation, Strategies to deal with debt; Reducing / challenging debts; Repayment negotiations; Utilities debt; Applying for insolvency
-
-
- General legal advice – Consumer; Family & general court matters (until July 2023)
- Student finance - Information on grants, budgeting & savings; Student finance options
This year we responded to 24,529 enquiries from 3,608 unique individuals, of which 1,322 were new clients registering to receive advice from us.
Where stated, 64% of enquiries were from clients with a Black or Minoritised Ethnic background. Where stated, 69% of enquiries were from Female clients and 48% from clients with a disability or health condition, with19% experiencing mental health issues and 13% a long standing illness.
Our geographical reach continues to grow as we deliver services remotely and work in partnership with others who refer clients. However, the majority of the people we support are in Lambeth and surrounding areas with 60% of our enquiries coming from people resident in the following post code areas: SE27, SW2, SW16, SE19 SW4 and SW9.
Quotes from Advice clients:
”Thanks Centre 70. I'll keep spreading the word about debt advice services it makes such a difference! When we try & deal on our own the banks & collection agencies bully us. Knowledge is power!”
Debt advice client
“Thank you for your helpful reply. My landlord rang me this morning and I was totally honest with them regarding my present situation. I have entered an agreement regarding my rent arrears and am hopeful of keeping to it. Thank you once again for your help which has been immense for someone in my current circumstances.”
Housing advice client
“I felt so hopeless before coming to Centre 70 but you made me feel at ease. I will stick to the plan we have made with EDF . Thank you so much for your help.”
Debt advice client
“I have never heard of Centre70 until someone mentioned that I should give them a try. I was in debt, arrears, and at a point where I needed to change career. I am not good at all digitally and I can wholeheartedly say my caseworker completed everything - thousands of pounds of arrears cleared! HMRC issues cleared up! Grants / funding for training courses came through. She has been instrumental through those tough times. I was not aware that I could get help like this that actually produces results!”
Student Finance advice client
“The information about debts and which are the most important was most useful. Thank you for all the information and the packs to take away. It will be really useful for me moving forward.”
Money Management course participant (prison outreach)
4
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Counselling and Wellbeing
Centre 70 also delivers a Counselling and Wellbeing service, providing holistic support to help clients deal with mental health challenges and build their resilience and confidence.
## **Counselling Service**
Centre 70 provides a counselling service accredited by the British Association of Counselling and Psychotherapy (BACP). We provide up to 40 sessions with one of our 25 experienced volunteer counsellors who support on average 55 clients per week. This year we carried out 133 assessments and provided counselling to 137 clients. Of those seeking counselling: 50% were from Black and Minority Ethnic backgrounds (7% increase from last year) and 65% female – a 10% reduction compared to last year and so a 10% increase in males accessing our service. We are mainly providing face to face service, with only a few clients receiving counselling via Zoom or telephone, where they are unable to attend the office location.
We are in the second year of our National Lottery Community Fund project which enables us to reach the community in different ways and support clients with wellbeing activities as outlined below.
We still see an increase in referrals from clients with more complex needs and have seen an increase in demand and complexity linked to the ongoing cost of living crisis and particularly housing issues which affect people’s mental health and wellbeing.
In the last year, circa two thirds of our clients were deemed at assessment to require support from one of our most experienced counsellors, with 40% disclosing a mental or physical health disability, 43% disclosing some childhood trauma or neglect. 40% of referrals are now coming via the NHS in some way e.g. GPs or IAPT services.
The number of clients overall approaching our service has also increased and we regularly review how we can respond to demand. This year the average number of people on our waiting list was 88 compared to 80 last year and 68 the year before, despite us increasing capacity by taking on 4 additional counsellors.
Our counsellors are provided with professional supervision to ensure they are well supported and working to high ethical standards. 120 supervision sessions took place in our six supervision groups over the year. We also run training sessions for our team this year covering Trans awareness and most recently Emotional Unstable Personality Disorder (EUPD).
We operate a sliding scale of £10-£50 per session which means that higher earners subsidise the service to make it accessible to those earning less. The average fee paid by our counselling clients was £20. Our Inspire Project offered free counselling to 35 clients per year who are unable to afford the minimum £10 fee.
Quotes from Counselling clients:
“Helped me to understand and overcome family conflicts. Helped me to understand my feelings and to value myself.”
"It has given me clarity and made things more bearable and manageable. I have been able to try new things and start positive habits easier. I’m more calm and more at peace."
“I have recognised my negative way of thinking which I was not aware of before. I am more able to try and change this now.”
“Since receiving Counselling I am less anxious and generally more relaxed about everything. The recurring thoughts about harm coming to my grandchildren has stopped. I've noticed that my thought processes are much clearer particularly upon waking up in the morning. It feels like there's less muddle in my head.”
“I feel more positive about my life and it has given me the tools to make small but positive changes.”
5
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## **Wellbeing Service**
Now in the second year of our Wellbeing Service, funded by the National Lottery Community Fund, we’ve continued to develop a wide range of activities, adopting a community consultative and ongoing collaborative approach to offer one to one and group support activities.
These include:
- Maternal Journal creative group for new and pregnant mums to explore complex experiences completing 4 x 6 week workshops for 34 mothers in total. We are now also running a monthly online group for the mothers who have attended the groups for support of which 50 mothers have attended
- Menopause support group providing peer support and expert information in a supportive community, this year supporting 234 women who attended online and in person sessions
- Bereavement group at West Norwood library with a weekly drop in starting in September 2023 with 91 attendees
- Community one to one Befriending Service provided by trained volunteers, meeting in the community to build relationships and confidence, with training provided to 19 Befrienders of which 11 were new
- Community wellbeing workshops on different topics including a Wellbeing day at the Portico Gallery with 25 attendees
Quotes from Wellbeing activity and group participants:
"A huge thank you, this opportunity has changed my life for the better and offered me the support I needed at a dark and difficult time. I’d love to attend follow on groups or even a maternal journal retreat – I am an event organiser by profession so would be happy to help with future events and activities ."
“Although we are all unique, our challenges, interests, and aspirations align in numerous ways. We all shared a great deal in common."
"You can learn so much from meeting new/different people who are generous enough to share their experiences."
“Inspired; uplifted and in awe of individual resilience."
## Inspire project
We successfully sourced funding from the Henry Smith Charity to continue our Inspire project from April 2023. This programme provides opportunities for people to receive advice on debt, welfare and housing matters, alongside counselling, and to then access volunteering opportunities with training and support, to go on to help others in our community.
- 35 clients received 501 hours of free counselling
- 61 clients received 105 hours of advice appointments (excluding follow up case work undertaken)
- 11 clients have trained and gone on to volunteer with Centre 70
- 39 outreach sessions providing information and signposting have been delivered by peer volunteers, reaching 184 people.
- Sessions included finance information for students, income maximisation for women with chronic health conditions and energy information for a Black health initiative
- 2 – 4 hours per week of additional support provided to advice staff
6
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
Quotes from Inspire clients:
“I appreciate the help and support I have received. You were available to ask questions on matters I didn’t understand. You also advised me of other benefits I might be entitled to. The grant and childcare bursary has been very instrumental in me furthering my education.”
“I was feeling as anxious and hopeless as ever at the office door. Still your warm and welcome and professional approach to my case made me feel at ease and optimistic, and I am grateful for your kindness and your effort.”
90% of peer volunteers have been able to use their experiences to support others in the community, with 100% reporting they’ve gained knowledge or skills; improved their social networks or made friends; have increased confidence and that involvement with the Inspire projects has improved their wellbeing.
Quotes from Inspire volunteers:
“Gives me a sense of purpose, especially within my own community.”
“Gave me back self respect, confidence and I feel useful again.”
## Collaboration and Partnerships
Centre 70’s work is carried out in partnership with many others and not just within our premises in Knights Hill, West Norwood. For example, we provide outreach advice in prisons and at probation services, at local food community hubs, in colleges and children’s centres, and at other local charities including Mosaic Clubhouse and The Baytree Centre in Lambeth.
Our way of working collaboratively with other local agencies and providing advice at outreach venues to reach the most vulnerable who may not engage or come to an advice centre means we reach parts of the community often not well served. This is reflected by the diversity of our client-base.
Centre 70 collaborates with Brixton Advice Centre to provide advice to users of local foodbanks and new funding from the Trussel Trust in October 2023 allowed us to continue this work.
We continue a partnership with We Are to provide debt advice as part of a number of advice agencies to L&Q housing tenants.
Our partnership with the Deborah Ubee Trust came to an end, but we have been collaborating with other counselling services locally and in other boroughs e.g. One Vision, to refer clients between us to help manage demand and be able to refer individuals to the most appropriate service for their needs.
We continue to run our Bereavement Help Point in partnership with St Christopher’s Hospice and Lambeth Libraries, providing an open space for people who are bereaved to meet and support each other.
## Quality Standards
Centre 70 works to high professional standards. We have retained the LEXCEL Law Society legal practice quality accreditation. The Counselling and Wellbeing service is accredited with The British Association of Counselling and Psychotherapy (BACP) and we renewed our Cyber Essentials certification during this year. We are authorised by the Financial Conduct Authority, Authorisation number 618717.
## Public benefit
The Trustees consider that Centre 70’s objectives and activities stated above provides public benefit within the meaning and terms of the Charity Commission.
7
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Strategic Priorities 2022/25
We continue to align work with four strategic priorities below:
1. Increase awareness and access to legal rights and entitlements
2. Improve mental health and wellbeing
3. Improve access to life opportunities
4. Improve sustainability of the organisation
## Annual objectives 2023 / 24
At our annual Trustee away day in January 2024, we reviewed our key priorities, some of which had been paused during the uncertainty and extended period of the commissioning process by Lambeth Council. In light of the ensuing funding gap, we recognised the need to focus on new models of delivery, including increasing income generation, to meet this gap and secure and sustain current jobs.
We continued to focus on:
1. Undertaking a capacity review – looking at staffing, structure and succession planning for senior management
2. Address trustee succession recruiting to skills gaps and improved diversity as appropriate
3. Select and implement a new CRM to enable better record keeping and improved monitoring and evaluation of our work
4. Undertake a delivery review – including online versus face-to-face services; one to one support & group support; alternatives methods of delivery to achieve our outcomes
5. Improve the premises at Knights Hill – making it a nicer building to both work and access services from, prioritising essential work such as heating and ventilation and upgrading electrics, whilst we fundraise for bigger renovations
6. Broader communications and messaging, including engaging with other organisations for cascading, reach and diversity via our website and other channels
## Volunteers
Centre 70 extends its thanks to all the volunteers who help deliver our community impact. Although we no longer operate a legal advice clinic, we want to thank and recognise contributions from all the volunteer lawyers who have staffed our weekly Monday evening Legal Advice Clinics over the years. We also want to highlight the work of the volunteers who provide the counselling sessions without which we wouldn’t be able to offer this service. Also the Inspire volunteers who are service users and are now volunteering for Centre 70, for example to deliver utilities information workshops, to help with administration and to set up peer support groups. We also have new volunteers helping run wellbeing activities and befrienders. In total this year an incredible 57 people volunteered their time to Centre 70’s services.
## Environmental responsibility
Centre 70 is committed to minimising the environmental impact of running our organisation. We regularly monitor and review our Environmental Action Plan which covers a wide range of action points such as reduced energy and waste. This year we undertook an Eco Audit funded by City Bridge Foundation and any new environmental practices recommended are being added to the plan. Centre 70's Environmental and Sustainability Policy Statement is available on request.
8
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Structure, Governance and Management
## Organisational structure
The Centre is governed by a Board of Trustees, who are also the directors/trustees of the charitable company. All of the Trustees are volunteers and some have served for several years. The Board meets about every six weeks. The Director and Managers of the two projects run by the charity (the Advice Centre and the Counselling and Wellbeing Service) report to the Board by written and oral reports. There are a number of subgroups which meet regularly to support the work of Centre 70 and they are comprised of trustees, staff and volunteers; they report to the Board.
## Current Trustees
- Martin Beard (Company Secretary)
- Elvis Langley (Chair from Oct 2022)
- Kati Massey (Treasurer)
- Gargie Ahmad
- Laura Cassidy
- Gai Tetlow
- Kate White
- Liz Woodroffe (stepped down in February 2024)
- Alison Julal (stepped down in December 2023)
The day to day running of the Centre is given to the Director who is supported by the Head of Advice Services and the Counselling and Wellbeing Services Manager and staff. The Director meets regularly with the Chair of Trustees. The Office Handbook contains the organisation chart and details and a table of delegated powers.
## Recruitment and appointment of new trustees
The Board is always looking for new Board members with suitable skills and connection with the area that is served. In the last financial year one new member has been recruited. Training is available for Trustees and there is an induction procedure to support new Trustees, including a buddying arrangement with an experienced Trustee. There are opportunities to meet staff and become familiar with the work including experiencing the work at our reception desk. Trustees have access to the Office Handbook (guidance including staff conditions of service and aspects of conduct which embody the ethos of Centre 70). A skills audit is undertaken of Trustees and regularly reviewed to ensure there are a range of skills needed for effective governance.
We are actively looking to diversify our Trustee Board, increasing representation from the communities we serve, and increasing the number of Trustees since two have had to step down during this last year. Trustees are elected to the Board at the Annual General Meeting.
## Key management remuneration
Senior Management Team remuneration in the year (three posts) was £157,298 (2022-23 £136,169). It should be noted that the majority of the three managers’ work relates to Charitable Activities.
9
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Governance
The charity is constituted as a company limited by guarantee, as defined by the Companies Act 2006, and is therefore governed by its Memorandum and Articles of Association. This replaced the original trust deed in 1987.
Centre 70’s Board of Trustees review its governance in light of the Charity Governance Code and subject all its processes and procedures to the principles set out in the Code as below.
## Charity Governance Code
## **Purpose**
The Board shares a good understanding and commitment to and can articulate the purpose of Centre 70 and the impact it delivers through its services. The strategic plan, reviewed at Board meetings, sets out delivery of Centre 70's purpose, with performance evaluated, benchmarked and measured with stakeholders including users, partners and funders.
## **Leadership**
The Trustees accept collective responsibility for Centre 70's aims, reflecting the agreed vision and values. Appropriate supervision is made for staff and volunteers and rigorous review procedures apply to appointments of Trustees and recruitment of staff and volunteers. Current work underway is focussing on succession plans and potential restructuring to ensure Centre 70 has the correct staffing structure to deliver its aims in future.
## **Integrity**
The Board is committed to acting in the best interests of Centre 70 and its service users and avoids any exercise of undue influence. Both Centre 70's reputation and public confidence in it are safeguarded by a variety of means including regular reviews of performance and ongoing contact with stakeholders including with elected representatives and public and other organisations. Trustees follow a code of conduct.
## **Decision taking, risk and control**
The Board's main focus is on strategy, performance and assurance and delegates operational matters as resources allow. Regular management and financial reports are made to the board and sub-groups (Finance & personnel, Communications & marketing; Fundraising; IT; Counselling and Wellbeing; Advice) made up of Trustees and staff meet regularly to apply closer oversight. Processes are in place to manage risk.
## **Board effectiveness**
Trustees offer a wide range of skills to enhance the Board's performance and, with the help and guidance of the Chair, seek to cultivate good and strong working relationships and a culture which is open to challenge. If a Trustee has served for more than nine years, his or her reappointment is subject to a review, taking into account the need for progressive refreshing of the board. In light of this, the length of service of Martin Beard on the board is justified with Centre 70's need to retain his experience (gained over long period in both legal work and serving Centre 70) and also on the relatively recent periods of appointment of most of the other Board members. Each year at the Trustees Away Day and subsequent Board of Trustees meetings, Centre 70 carries out a skills audit to identify new skills required and new Trustees are recruited accordingly.
## **Diversity**
The Board seeks to recruit Trustees from a wide range of backgrounds, skills and experience. Centre 70 holds a strong commitment to equality and diversity to which all serving within Centre 70 are required to adhere. We are always seeking to strengthen diversity on the Board and are continually reviewing how and where to encourage more diversity across in the organisation in future.
10
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## **Openness and accountability**
Centre 70 encourages feedback on its work and performance and adheres to a strong set of values, ethics and culture. Centre 70 regularly engages with those who benefit from its work and all stakeholders. Remuneration of staff is based on levels adopted in the not-for-profit sector insofar as the finances of Centre 70 allow.
## Responsibilities of Trustees
The Trustees (who are also the directors of Centre 70 for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently
- observe the methods and principles in the Charity SORP
- make judgements and estimates that are reasonable and prudent
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
In so far as the Trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
## Principal risks and uncertainties
The Board considers that the main risk to the Charity remains its dependence on a few large funding sources, although recently we have successfully diversified funding streams.
After a protracted period, we received reduced overall funding from the London Borough of Lambeth and so are mitigating this by remodelling and deploying staff under other income generation or paid per case contracts. Introducing this new way of working brings with it risks and so we plan to phase this in whilst funding tapers and implement systems to track and monitor income in real time so adjustments can be made as we go along.
Other risks identified are outlined below:
- One of the two Housing solicitors retired in March 2023 and we have been unable to recruit resulting in reduced income from chargeable housing work. To mitigate we increased capacity in the team by increasing staff hours and took on a paralegal in October 2023.
- Cyber attacks – we are ensuring there is regular training for the team and implementing additional system security to mitigate
- Retention of long serving experienced staff –offering flexibility in hours and roles
11
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
- Ensuring our premises at 46 Knights Hill is fit for purpose for staff and clients
- Loss of trustees with a range / specific knowledge in key areas
However, despite the funding risks, fundraising and donations still contributed £63,297 (2022-23 £47,974) to the organisation.
## Financial position
The results of the year are set out in Statement of Financial Activities. The income for the year has increased from £633,013 to £860,983. The resultant surplus for the year is £3,880 (2022-23 returning a deficit of £133,222). General funds at the end of the year were £426,633 (2022-23 £422,753).
We are working hard to ensure that our income portfolio remains diverse to provide us with increased resilience, and are continuing to target investment in staff in areas where we can generate and increase further income.
## Funders
These accounts show Centre 70's income comes from a wide range of funders, contracts and donors. Lambeth Council fund a proportion of our advice work, although as previously mentioned this has reduced in the period, and continues to do so going forward. Income also from the Legal Aid Agency, Walcot Foundation for our advice for students, the National Lottery Community Fund for our Wellbeing service and Henry Smith for our Inspire project.
## Donors
We are extremely grateful to our donors including the Richard & Gwendoline Chadwick's Charitable Trust and the Elizabeth and Prince Zaiger Trust.
## Reserves policy
Centre 70’s policy on reserves has been to maintain them at a level of four months' non-discretionary expenditure. This meets the Charity Commission's recommendations but would not necessarily enable the Centre to continue a full spread of services to clients in the event of the termination or reduction of major contracts. Unrestricted reserves at the end of year were £426,633 (2022-23 £422,753), representing over four months' non-discretionary expenditure.
,
Centre 70 additionally undertakes to provide run off cover immediately upon cessation of the Centre or its legal practice if no other appropriate insurance cover is in place. In order to do this Centre 70 has created and will maintain a reserved fund of 3.5 times the present year's Professional Indemnity Insurance premium for the cost of arranging the one-off premium for such runoff cover for six years in the event that this is needed in the future.
The Board considers that the reserves at the end of the year satisfied this policy.
12
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Independent Examiners
The Independent Examiners are Menzies LLP of Richmond House, Walkern Road, Stevenage SG1 3QP. Centre 70 does not meet the required threshold to be subject to statutory audit therefore at the advice of Menzies LLP, the decision was made for them to carry out an independent examination of the finances for 2023-2024. It is anticipated that the same course of action will be proposed at the next Annual General Meeting for the 2024-2025 finances.
Financial statements are published on Centre 70's website and their integrity is the responsibility of the Trustees.
The Trustees have prepared this report in accordance with the provisions of Part 15 of the Companies Act 2006.
Signed by Kati Massey, Treasurer, on behalf of the Trustees of Centre 70
Kati Massey Date: 23-Dec-2024
Reference and administrative details of the charity, its Trustees and advisors for the year ended 31 March 2024
E Langley, Chair K S Massey, Treasurer G Ahmad M P Beard L M Cassidy G Tetlow K F White E O Woodroffe (Resigned 12 February 2024) A M Julal (Resigned 7 December 2023)
Company registered number 02087528 Charity registered number 296020
Registered office 46 Knights Hill London SE27 0JD Company secretary M P Beard Independent examiner Menzies LLP Chartered Accountants Richmond House, Walkern Road Stevenage, Hertfordshire SG1 3QP
13
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
Independent Examiner's Report to the Trustees of Centre 70 ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
Responsibilities and Basis of Report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA and ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 23-Dec-2024 James Fox FCCA ACA
Menzies LLP Chartered Accountants Richmond House, Walkern Road Stevenage, Hertfordshire SG1 3QP
14
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Statement of financial activities
## (incorporating income and expenditure account)
For the year ended 31 March 2024
|Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward|Restricted
funds
2024
£
-
251,650
-|Unrestricted
funds
2024
£
63,297
542,156
3,880|Total
funds
2024
£
63,297
793,806
3,880|Total
funds
2023
£
47,974
584,294
745|
|---|---|---|---|---|
||251,650|609,333|860,983|633,013|
||251,650|
605,453|
857,103|766,235|
||251,650|605,453|857,103|766,235|
||
-|
3,880|
3,880|
(133,222)|
||-
-|422,753
3,880|
422,753
3,880|555,975
(133,222)|
||-|426,633|426,633|422,753|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 20 to 33 form part of these financial statements
15
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Balance sheet As at 31 March 2024
|Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
14
Net assets excluding pension asset
Total net assets
Charity funds
Unrestricted funds
15
Total funds|
58,220
238,680|2024
£
282,663|
154,011
91,414|2023
£
292,282|
|---|---|---|---|---|
|||282,663
153,139||292,282
147,898|
||296,900
(143,761)||245,425
(97,527)||
||||
||
|||435,802
(9,169)||440,180
(17,427)|
|||426,633||422,753|
|||426,633||422,753|
|||426,633||422,753|
|||426,633||422,753|
16
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Balance sheet (continued)
## As at 31 March 2024
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ K S Massey Trustee
## Date: 23-Dec-2024
The notes on pages 20 to 33 form part of these financial statements
17
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Statement of cash flows For the year ended 31 March 2024
|Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Repayment of loans
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 20 to 33 form part of these financial statements|2024
£
151,644|2023
£
(267,339)|
|---|---|---|
||3,880|745|
||3,880|745|
||(8,258)|(8,669)|
||(8,258)|(8,669)|
||147,266
91,414|(275,263)
366,677|
||238,680|91,414|
||||
18
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
Notes to the financial statements For the year ended 31 March 2024
## 1. General information
Centre 70 is a private company limited by guarantee, registered in England and Wales, as a well as being a charity registered in the same jurisdiction. The charity's registered numbers and office address can be found within the reference and administrative details on page 13.
The presentation currency of the financial statements is the Pound Sterling (£).
## 2. Accounting policies
## 2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Centre 70 meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## 2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## 2.4 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
19
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
For the year ended 31 March 2024
## 2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
|Long-term leasehold property|- over the life of the lease|
|---|---|
|Improvements to property|- over the life of the lease|
|Fixtures and fittings|- 33% on cost|
|Computer equipment|- 50% on cost|
## 2.6 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.
## 2.7 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## 2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
20
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
## For the year ended 31 March 2024
## 3. Income from donations and legacies
|Donations|Unrestricted
funds
2024
£
63,297|Total
funds
2024
£
63,297|Total
funds
2023
£
47,974|
|---|---|---|---|
## 4. Income from charitable activities
|Grants
Foodbank project
Lambeth Housing Management
Legal Housing
Legal aid contract
L&Q Pound Advice
Thames Water Trust Fund
Trust for London (project)
Counselling service fees
National Lottery Community Fund Project
Chaniel Community Project
Lambeth Wellbeing Hubs|Restricted
funds
2024
£
60,000
27,230
-
-
-
-
29,250
42,955
-
92,215
-
-|Unrestricted
funds
2024
£
265,785
-
93,650
104,692
6,837
45,908
-
-
25,284
-
-
-|Total
funds
2024
£
325,785
27,230
93,650
104,692
6,837
45,908
29,250
42,955
25,284
92,215
-
-|Total
funds
2023
£
197,906
26,952
93,650
64,957
3,385
33,002
39,002
36,300
21,834
38,656
3,650
25,000|
|---|---|---|---|---|
||251,650|542,156|793,806|584,294|
21
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements For the year ended 31 March 2024
## Grants received included in the above, are as follows:
|The Walcot Foundation
London Borough of Lambeth
HMPPS
Inspire
Nurture Organisations|Restricted
funds
2024
£
-
-
-
60,000
-|Unrestricted
funds
2024
£
57,058
168,559
38,888
-
1,280|Total
funds
2024
£
57,058
168,559
38,888
60,000
1,280|Total
funds
2023
£
52,836
98,000
26,420
20,650
-|
|---|---|---|---|---|
||60,000|265,785|325,785|197,906|
## 5. Investment income
|Deposit account interest|Unrestricted
funds
2024
£
3,880|Total
funds
2024
£
3,880|Total
funds
2023
£
745|
|---|---|---|---|
22
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
## For the year ended 31 March 2024
## 6. Analysis of expenditure on charitable activities
## Summary by fund type
|Advice services
Counselling services|Restricted
funds
2024
£
251,650
-|Unrestricted
funds
2024
£
452,689
152,764|Total
2024
£
704,339
152,764|Total
2023
£
663,317
102,918|
|---|---|---|---|---|
||251,650|605,453|857,103|766,235|
## 7. Analysis of expenditure by activities
|Advice services
Counselling services|Activities
undertaken
directly
2024
£
689,845
152,764|Support
costs
2024
£
14,494
-|Total
funds
2024
£
704,339
152,764|Total
funds
2023
£
663,317
102,918|
|---|---|---|---|---|
||842,609|14,494|857,103|766,235|
23
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements For the year ended 31 March 2024
## Analysis of direct costs
|Staff costs
Depreciation
Insurance
Utilities
Telephone
Postage and stationery
Professional disbursements
Repairs and maintenance
Staff support costs
Subscriptions and publications
Computer and related costs
Bank charges and interest
Counselling supervision fees
Analysis of support costs
Auditor's remuneration
Independent examiner's remuneration
Finance related costs|Total
funds
2024
£
725,967
9,619
5,855
5,098
5,764
5,829
20,353
8,796
3,901
3,317
13,887
3,738
30,485|Total
funds
2023
£
655,141
4,800
7,934
5,321
5,516
5,238
11,513
9,986
1,322
3,901
12,883
3,540
15,064|
|---|---|---|
||842,609|742,159|
||
Total
funds
2024
£
-
4,000
10,494|
Total
funds
2023
£
5,500
-
18,576|
14,494 24,076
24
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
## For the year ended 31 March 2024
## 8. Independent examiner's remuneration
|Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
Fees payable in respect of:
Auditor's remuneration|2024
£
4,000
-|2023
£
-
5,500|
|---|---|---|
## 9. Staff costs
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|2024
£
654,190
58,752
13,025|2023
£
583,357
58,507
13,277|
|---|---|---|
||725,967|655,141|
The average number of persons employed by the Charity during the year was as follows:
|Advice
Counselling|2024
19
4|2023
19
4|
|---|---|---|
||23|23|
No employee received remuneration amounting to more than £60,000 in either year.
Total key management personnel remuneration was £157,298 (2023 £136,169).
## 10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL-).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
25
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements For the year ended 31 March 2024
## 11. Tangible fixed assets
|Cost or valuation
At 1 April 2023
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023|Long-term
leasehold
property
£
240,000|Short-term
leasehold
property
£
120,470|Fixtures and
fittings
£
25,510|Computer
equipment
£
22,340|Total
£
408,320|
|---|---|---|---|---|---|
||240,000|120,470|25,510|22,340|408,320|
||10,400
4,800|57,788
4,819|25,510
-|22,340
-|116,038
9,619|
||15,200|62,607|25,510|22,340|125,657|
||224,800|57,863|-|-|282,663|
||229,600|62,682|-|-|292,282|
26
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
Notes to the financial statements For the year ended 31 March 2024
## 12. Debtors
|Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Creditors: Amounts falling due within one year
Bank loans
Other taxation and social security
Other creditors
Accruals and deferred income|2024
£
51,898
3,687
2,635|2023
£
153,451
-
560|
|---|---|---|
||58,220|154,011|
||2024
£
6,806
25,180
-
111,775|2023
£
8,508
35,013
11,665
42,341|
||143,761|97,527|
13. Creditors: Amounts falling due within one year
Deferred income has been accounted to ensure that charitable income has been recognised in the correct financial period, in accordance with the accounting policies of the entity.
27
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements For the year ended 31 March 2024
## 14. Creditors: Amounts falling due after more than one year
|Bank loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans|2024
£
9,169|2023
£
17,427|
|---|---|---|
||2024
£
9,169|2023
£
9,169|
||-|8,258|
28
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
## For the year ended 31 March 2024
## 15. Statement of funds
Statement of funds - current year
|Unrestricted funds
General fund
Restricted funds
Thames Water Trust Fund
Tudor Trust
City Bridge Trust
Foodbank projects
Trust for London
National Lottery Community Fund
Total of funds|Balance at 1
April 2023
£
422,753|Income
£
609,333|Expenditure
£
(605,453)|Balance at
31 March
2024
£
426,633|
|---|---|---|---|---|
||
-
-
-
-
-
-|
29,250
30,000
30,000
27,230
42,955
92,215|
(29,250)
(30,000)
(30,000)
(27,230)
(42,955)
(92,215)|
-
-
-
-
-
-|
||-|251,650|(251,650)|-|
||422,753|860,983|(857,103)|426,633|
29
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
## For the year ended 31 March 2024
## Statement of funds - prior year
|Unrestricted funds
General fund
Restricted funds
Thames Water Trust Fund
Tudor Trust
City Bridge Trust
Foodbank projects
Chaniel Community Project
Trust for London
National Lottery Community Fund
Total of funds|Balance at
1 April 2022
£
555,975|Income
£
467,803|Expenditure
£
(601,025)|Balance at
31 March
2023
£
422,753|
|---|---|---|---|---|
||
-
-
-
-
-
-
-|
39,002
10,325
10,325
26,952
3,650
36,300
38,656|
(39,002)
(10,325)
(10,325)
(26,952)
(3,650)
(36,300)
(38,656)|
-
-
-
-
-
-
-|
||-|165,210|(165,210)|-|
||555,975|633,013|(766,235)|422,753|
30
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## Notes to the financial statements
## For the year ended 31 March 2024
## 16. Summary of funds
Summary of funds - current year
|General funds
Restricted funds
Summary of funds - prior year
General funds
Restricted funds|Balance at 1
April 2023
£
422,753
-|Income
£
609,333
251,650|Expenditure
£
(605,453)
(251,650)|Balance at
31 March
2024
£
426,633
-|
|---|---|---|---|---|
||422,753|860,983|(857,103)|426,633|
||Balance at
1 April 2022
£
555,975
-|Income
£
467,803
165,210|Expenditure
£
(601,025)
(165,210)|Balance at
31 March
2023
£
422,753
-|
||555,975|633,013|(766,235)|422,753|
31
Docusign Envelope ID: 927DA879-6545-411F-8D30-43D9B19E9DBF
## 17. Analysis of net assets between funds
Analysis of net assets between funds - current period
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total
Analysis of net assets between funds - prior period
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total|Unrestricted
funds
2024
£
282,663
296,900
(143,761)
(9,169)|Total
funds
2024
£
282,663
296,900
(143,761)
(9,169)|
|---|---|---|
||426,633|426,633|
||
Unrestricted
funds
2023
£
292,282
245,425
(97,527)
(17,427)|
Total
funds
2023
£
292,282
245,425
(97,527)
(17,427)|
||422,753|422,753|
## 18. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.
32