DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 JULY 2022** **Charity Registration No. 511978** DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Molly Kenyon (Chair) Martin Love David Servant Alex McLelland Victoria Jenkins Jamie Needle Stuart Herdson (Appointed 23 September 2021) Ruth Sacks (Appointed 16 June 2022) Joe Ashton (Appointed 15 December 2022) **Charity number** 511978 **Principal address** Victoria Hall Victoria Road Shipley BD18 3JS **Registered office** Victoria Hall Victoria Road Shipley BD18 3JS **Independent examiner** Alison Whalley FCA Naylor Wintersgill C/o Naylor Wintersgill Carlton House Bradford BD1 4NS **Bankers** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailling Kent ME19 4JQ Shawbrook Bank Lutea House Warley Hill Business Park The Drive Great Warley Brentwood Essex CM13 3BE DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 14| DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 JULY 2022**_ The Trustees present their annual report and financial statements for the year ended 31 July 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Scheme, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2019) ## **Objectives and activities** The Charity's objects are to promote the education of persons resident in Shipley. The Charity's aims are “the advancement of education and the provision of facilities for recreation and leisuretime occupation”. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. ## **Achievements and performance** Despite the current cost of living crisis, the level of cash for normal working was adequate in 2021/22 with a good level of advance bookings for 2022/23. Budget and cashflow forecasts are well-developed and show the Foundation has capacity to continue working towards its objects. As with many venues, the Victoria Hall staff team has found bookings are made nearer to the event than before the pandemic. Some clients also limit the size of events to balance cost of living issues. Expenditure on building repairs and staffing is closely managed, there are current cash reserves to meet the charity’s needs for the next 12 months. A good return on our longterm ethical investment portfolio enabled a withdrawal of £60k to put towards building maintenance and improvements totalling £100k. Subsidised fees for community organisations to use Victoria Hall continued during 2021/22 with many classes and activities returning to normal. Saltaire Festival received a £5,000 grant to support family and cultural activities within Saltaire Village. The trustees held a reception in November 2022 to mark Victoria Hall’s 150[th] anniversary. Our guests were people whose work helps in various ways to keep the building open, sustainable and offering a friendly welcome. Speakers included the Lord Mayor of Bradford (a longterm Salt Foundation trustee) and the new Principal of Shipley College. Co-operation between user groups was demonstrated in a video of Saltaire Swans (adult ballet students attending classes in the Hall) created by College media students. ## **Fundraising** Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes’. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activity for the year under review. Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator. ## **Financial review** During the year the Charity received income of £415,593 (2021 £338,607). The charity incurred expenditure of £385,491 (2021 £323,553). After accounting for losses on investments of £33,101 (2021 gain £68,884) the charity generated a net decrease in funds of £2,999 (2021 £83,938 increase). This resulted in reserves, all of which are unrestricted, of £707,428 (2021 £710,427). - 1 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The Charity is registered with the charity commission and governed by its Scheme dated 27 July 1979. The Trustees who served during the year and up to the date of signature of the financial statements were: Molly Kenyon (Chair) Martin Love David Servant Alex McLelland Victoria Jenkins Jamie Needle Stuart Herdson (Appointed 23 September 2021) James Flood (Resigned 17 October 2022) Ruth Sacks (Appointed 16 June 2022) Joe Ashton (Appointed 15 December 2022) Norman Roper (Resigned 22 February 2022) The body of Trustees shall consist of nine competent persons who through residence, occupation or employment, or otherwise have special knowledge of Shipley being six nominative Trustees and three cooptative Trustees. The nominative Trustees shall be appointed by the City of Bradford Metropolitan Council for a term of four years. The persons appointed may, but need not, be a member of the Council. Co-optative Trustees are appointed for a term of five years by a resolution of the Trustees passed at a special meeting. Trustees are selected based on the skills they can bring to the Charity and are trained through mentoring from existing Trustees. The Trustees' report was approved by the Board of Trustees. **Molly Kenyon** Trustee Dated: 28 April 2023 - 2 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SALT FOUNDATION** I report to the Trustees on my examination of the financial statements of Salt Foundation (the Charity) for the year ended 31 July 2022. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable 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 Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 that in any material respect: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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 financial statements to be reached. Alison Whalley FCA Naylor Wintersgill Limited C/o Naylor Wintersgill Carlton House Grammar School Street Bradford BD1 4NS Dated: 28 April 2023 - 3 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 JULY 2022**_ |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**2022**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
5,750
34,173
83,647
Charitable activities
**4**
406,327
215,553
-
Investments
**5**
3,516
5,234
-
**Total income**
415,593
254,960
83,647
**Expenditure on:**
Charitable activities
**6**
385,491
237,761
85,792
Net gains/(losses) on investments
**12**
(33,101)
68,884
-
Gross transfers between funds
-
(2,145)
2,145
**Net movement in funds**
(2,999)
83,938
-
Fund balances at 1 August 2021
710,427
626,489
-
**Fund balances at 31 July 2022**
707,428
710,427
-|**Total**
**2021**
**£**
117,820
215,553
5,234| |---|---| ||338,607| ||323,553| ||68,884| ||-| ||83,938
626,489| ||710,427| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 JULY 2022**_ |**2022**
**Notes**
**£**
**Fixed assets**
Tangible assets
**13**
Investments
**14**
**Current assets**
Debtors
**15**
45,391
Cash at bank and in hand
261,827
307,218
**Creditors: amounts falling due within**
**one year**
**16**
(117,864)
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2021**
**£**
**£**
166,194
351,880
518,074
74,427
120,916
195,343
(109,850)
189,354
707,428
707,428
707,428|**£**
175,236
449,698| |---|---|---| |||624,934
85,493| |||710,427| |||710,427| |||710,427| The financial statements were approved by the Trustees on 28 April 2023 Molly Kenyon **Trustee** - 5 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **1 Accounting policies** ## **Charity information** Salt Foundation is a charity registered in England and Wales (Charity number 511978). It is governed by its Scheme dated 27 July 1979. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's Scheme, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. 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 £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The trustees do not consider the Covid-19 pandemic to have created a material uncertainty in relation to the going concern of the company. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Incoming resources** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. - 6 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **1 Accounting policies** **(Continued)** Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities an those costs of an indirect nature necessary to support them. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold buldings 50 years straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. - 7 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **2 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. 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 8 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **3 Donations and legacies** |||**Unrestricted**|**Unrestricted**|Unrestricted|Restricted|**Unrestricted**| |---|---|---|---|---|---|---| ||||**funds**|funds|funds|**funds**| ||||**2022**|2021|2021|**2021**| ||||**£**|£|£|**£**| |Grant listed below|||5,750|34,173|83,647|117,820| |**Grants receivable for core activities**||||||| |Bradford Metropolitan District Council|||5,750|34,173|-|34,173| |Town Fund|||-|-|83,647|83,647| ||||5,750|34,173|83,647|117,820| |**Charitable activities**||||||| ||**Salts and**|**Victoria Hall**|**Total**|**Salts and**|**Victoria Hall**|**Total**| ||**Exhibition**||**2022**|**Exhibition**||**2021**| ||**Buildings**|||**Buildings**||| ||**2022**|**2022**||**2021**|**2021**|| ||**£**|**£**|**£**|**£**|**£**|**£**| |Charitable rental||||||| |income|115,238|291,089|406,327|115,238|100,315|215,553| ## **4 Charitable activities** ## **5 Investments** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2022**|**2021**| ||**£**|**£**| |Income from listed investments|3,299|5,005| |Interest receivable|217|229| ||3,516|5,234| - 9 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **6 Charitable activities** |Depreciation and impairment
Staff costs
Event costs
Repairs and maintenance
Improvement costs
Rates, utilities and insurance
Cleaning
Office costs
Management fees
Marketing
Sundry
VAT recoverable
Grant funding of activities (see note 7)
Share of support costs (see note 8)
Share of governance costs (see note 8)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2022**
**£**
9,042
192,888
8,556
18,454
9,390
68,185
27,641
5,685
18,687
4,788
3,732
(1,711)
365,337
5,000
10,288
4,866
385,491
385,491
-|**2021**
**£**
9,042
100,691
772
8,915
85,792
52,062
26,753
5,854
16,420
757
663
(1,088)
306,633
2,000
10,633
4,287
323,553
237,761
85,792| |---|---|---| - 10 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **7 Grants payable** |Grants to institutions:
Saltaire Festival
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Investment management
costs
3,517
-
Bank charges
96
-
Management fees
6,342
-
Computer costs
333
-
Legal and professional
-
-
Independent examiners
fees
-
2,220
Trustees indemnity
insurance
-
588
Clerks fees
-
2,058
10,288
4,866
Analysed between
Charitable activities
10,288
4,866|**2022**
**£**
5,000
**2022**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
3,517
3,778
-
96
81
-
6,342
6,774
-
333
-
-
-
-
216
2,220
-
2,100
588
-
626
2,058
-
1,345
15,154
10,633
4,287
15,154
10,633
4,287|**2021**
**£**
2,000| |---|---|---| |||**2021**
**£**
3,778
81
6,774
-
216
2,100
626
1,345| |||14,920| |||14,920| **8 Support costs** Support costs are allocated in full to the one charitable activity. Governance costs includes payments to the independent examiner of £2,220 for examination fees (2021examination fees £2,100). ## **9 Trustees** None of the Trustees (or any persons connected with them) received any remuneration, benefits or expenses from the Charity during the current or prior year. Payments were made to one trustee for travel expenses during the year amounting to £7 (2021 £nil). ## **10 Taxation** As a charity the company is exempt from tax on income falling within part II of the Corporation Tax Act 2010 and on gains falling within s256 of the Taxation of Chargeable gains Act 1992 to the extent that theses are applied to its charitable objectives. No tax charges have arisen in the charity. - 11 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **11 Employees** There were no employees during the current or prior year. ## **12 Net gains/(losses) on investments** ||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2022**|**2021**| ||**£**|**£**| |Revaluation of investments|-|45,757| |Gain/(loss) on sale of investments|(33,101)|23,127| ||(33,101)|68,884| |**Tangible fixed assets**||| ||**Freehold buldings**|| |||**£**| |**Cost**||| |At 1 August 2021||555,000| |At 31 July 2022||555,000| |**Depreciation and impairment**||| |At 1 August 2021||379,764| |Depreciation charged in the year||9,042| |At 31 July 2022||388,806| |**Carrying amount**||| |At 31 July 2022||166,194| |At 31 July 2021||175,236| ## **13 Tangible fixed assets** - 12 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **14 Fixed asset investments** |**Listed**
**investments**
**Cash in**
**portfolio**
**£**
**Cost or valuation**
At 1 August 2021
449,356
342
Valuation changes
(70,354)
-
Withdrawals
(64,500)
Charges
-
(3,516)
Dividends and interest
-
3,299
Additions
128,123
(128,123)
Disposals
(211,821)
249,074
At 31 July 2022
295,304
56,576
**Carrying amount**
At 31 July 2022
295,304
56,576
At 31 July 2021
449,356
342
**15**
**Debtors**
**2022**
**Amounts falling due within one year:**
**£**
Trade debtors
9,358
Other debtors
16,340
Prepayments and accrued income
19,693
45,391
**16**
**Creditors: amounts falling due within one year**
**2022**
**Notes**
**£**
Deferred income
**17**
65,803
Trade creditors
20,122
Other creditors
-
Accruals
31,939
117,864|**Total**
**£**
449,698
(70,354)
(64,500)
(3,516)
3,299
-
37,253
351,880
351,880
449,698
**2021**
**£**
3,143
49,587
21,697
74,427
**2021**
**£**
65,008
17,271
18,890
8,681
109,850| |---|---| - 13 - DocuSign Envelope ID: 5AE49D47-5B0A-41E3-B305-7CF4DC89A62A ## **SALT FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **17 Deferred income** ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Other deferred income|65,803|65,008| |Deferred income is included in the financial statements as follows:||| ||**2022**|**2021**| ||**£**|**£**| |Deferred income is included within:||| |Current liabilities|65,803|65,008| |Movements in the year:||| |Deferred income at 1 August 2021|65,008|49,734| |Released from previous periods|(65,008)|(49,734)| |Resources deferred in the year|65,803|65,008| |Deferred income at 31 July 2022|65,803|65,008| ## **18 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |||**Movement in funds**|**Movement in funds**|||**Movement**|| |---|---|---|---|---|---|---|---| |||||||**in funds**|| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Balance at**| ||**1 August 2020**|**resources**|**expended**||**1 August 2021**|**resources**|**31 July 2022**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**| |Capital|||||||| |works,|||||||| |refurbishment|||||||| |of Victoria|||||||| |Hall|-|83,647|(85,792)|2,145|-|-|-| ||-|83,647|(85,792)|2,145|-|-|-| The refurbishment of Victoria Hall was funded by Shipley Town Council, Town Fund. A transfer was made in the prior year to cover the overspend. ## **19 Related party transactions** There were no disclosable related party transactions during the year (2021 - none). - 14 -