**Charity registration number 0517248**
## **Company registration number 01816907 (England and Wales)**
## **WHERE NEXT ASSOCIATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **WHERE NEXT ASSOCIATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees'**|Ms P Brook||
|---|---|---|
||Ms J Edmondson||
||Ms M Raine||
||Mr R Read (Treasurer)||
||Mr T D Twynam (Chairman)||
||Mr J Williams||
||Ms P Wheatcroft||
||Mr I Chavasse|(Appointed 14 September|
|||2022)|
|**Secretary**|Mr M Gilbert (CEO)||
|**Charity number**|0517248||
|**Company number**|01816907||
|**Registered office**|Wellesbourne Close||
||Easemore Road||
||Redditch||
||B98 8ER||
|**Independent examiner**|Jerroms||
||Lumaneri House||
||Blythe Gate||
||Blythe Valley Park||
||Solihull||
||West Midlands||
||B90 8AH||
|**Solicitors**|Harris Cooper Browning||
||10 Market Place||
||Redditch||
||Worcestershire||
||B98 9AA||
## **WHERE NEXT ASSOCIATION**
## **CONTENTS**
||**Page**|
|---|---|
|Chairman's statement|1 - 2|
|Trustees' report|3 - 8|
|Independent examiner's report|9|
|Statement of financial activities|10|
|Balance sheet|11 - 12|
|Statement of cash flows|13|
|Notes to the financial statements|14 - 28|
## **WHERE NEXT ASSOCIATION**
## **CHAIRMAN'S STATEMENT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
Another very good year at Where Next. Clients are very happy, and we have had many kind and supportive comments from parents and carers. As ever, without the superb support of our generous colleagues, donors, Worcestershire County Council and Redditch Borough Council this would not be possible. A big thank you to all our Stakeholders.
I am writing this in summer 2023 (it is pouring with rain!) and looking back on 2022 it was similar to 2021. We worked under Covid restrictions throughout the year -as was appropriate to all those who were under Health and Social care guidelines. Our Spernal site had to close for one week because of covid but otherwise we were open throughout the year (as we were through all the pandemic, bar lockdowns).
It is pleasing to report that our clients supported were at a record level of 141 adults (the previous year was 124). This is a great credit to the team and reflects our very good reputation. Our programme for supporting school children, which had ended in the pandemic, is now thriving again with regular sessions at Where Next throughout the working week.
## **Finance**
We, through good management, achieved our target and broke even with a surplus of £21,226. Turnover came in at £685,781 and expenditure at £664,565. Expenditure was not helped by the threefold skyrocketing price of gas and electricity (we are not capped). This encouraged us to concentrate on our energy consumption. A detailed energy survey was commissioned and has resulted in a multi-year plan.
## **Continuous Improvement**
In the short term the addition of new roof and wall insulation plus new double glazing in the offices and some activity areas. Heat loss in the greenhouses is being partially mitigated by strict controls on ventilation and not heating those areas where the plants are more robust.
In the medium term the plans are for a significant improvement to be made to the insulation of the wooden lodges through new windows, thicker insulated walls, and improvements to ceiling insulation.
At our Easemore road site the medium/long-term plan is to make the site virtually independent of external energy supply through solar panels and heat pumps. An investment project managed approach will be implemented with appropriate costings, strict budgeting, and funding to ensure the long-term cost benefit to Where Next and the environment.
As indicated in my report last year the landlord at one of our sites indicated he wanted us to vacate the building in the near future as he wanted to develop the entire site (which we lease a part of). The landlord’s plans and associated developments have proceeded much more slowly than he and we anticipated and so we remain unmoved!
We took the difficult but correct decision to close our Shades of Green business (garden maintenance) which had contracted significantly over the years. The decision was driven by two factors; it was economically non-viable but was also, and more significantly, progressively a less attractive activity for clients. Both staff members were offered alternative employment.
A new integrated digital telephone system was installed along with the completion of the replacement programme for laptops and computers. All our old paper-based records and processes are now replaced by the internet /intranet and most records (appropriately backed up) are all stored in the “cloud.” Our communications and productivity have improved immeasurably, and it has made possible our significant online and social media footprint for clients.
- 1 -
## **WHERE NEXT ASSOCIATION**
## **CHAIRMAN'S STATEMENT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Staff**
It is with sadness that I must report the passing of three people during the year, two clients and one member of staff, all of whom had been with us for over 10 years. They are all remembered with fondness.
Five members of staff moved on, either retiring or taking on new roles outside of Where Next. We thank them all for their support over the years. This is all part of natural turnover but has meant some changes and in all fairness has resulted in a reduction in the average age of our staff. Some of the new members are our apprentices who have chosen to stay with us whilst others have been recruited from outside. It is humbling to report that the staff with these new younger faces, some new older faces (apologies!), the long-served core, plus some well-deserved promotions are working extremely well together as a superb team – this is a great credit to Mathew and the Senior Management Team. This teamwork is cultivated by effective communication, clear roles and responsibilities, crosssite working, workshops, and individual and group training programmes. Training programmes included Health and Safety, Social Care, Accounting and Finance, Mental Health, Safeguarding, Mental Capacity, IT, GDPR and HR. The Senior Management Team is committed to the ongoing development of the skills and experience of the Team.
Our Mother’s Day plant sale at a local school was reinstated (having been halted by the pandemic) and was a great experience for clients and school children. This has grown again this year (2023) and is great fun for all.
Day trips were made to Butlins (Minehead) and to the German market in Birmingham. A very well attended BBQ was held (thank you Zurich Insurance who supported the event) and a great Christmas party - these were in addition to the regular pub club nights. New client sessions in sewing and bike maintenance were initiated.
## **Looking Forward**
As ever life at Where Next is all about two conflicting directions -well managed continuity and continuous change - all in a safe and caring environment! Our clients desire continuity but also really appreciate new activities and experiences. With the support of all our stakeholders, staff (full time, part time and volunteers), trustees, generous donors, WCC and RBC this is more than possible – in fact, we have achieved it!
Mr Timothy Twynam (Chairman) **Chairman**
Date: 30 August 2023
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## **WHERE NEXT ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The Trustees present their annual report together with the examined financial statements of Where Next Association for the year ended 31 December 2022.
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulation 2013 is not required.
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 charitable company's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The objects for which the Association is established are to advance the educational training and relieve need among unemployed persons, particularly young unemployed persons, resident in Worcestershire and Warwickshire who have learning difficulties as a result of being mentally or physically disabled or socially deprived or disadvantaged (hereinafter referred to as "the beneficiaries") by providing:
(i) employment under sheltered conditions for such of the beneficiaries who by reason of physical or mental disability are incapable of, or restricted from obtaining 'normal' employment, and
(ii) suitable opportunities for work experience for the remainder of such beneficiaries and teaching them skills and crafts and by offering advice and guidance to such persons so that they may in due course obtain employment
## **Ensuring delivery of the charity's aims**
The Trustees review the aims, objectives and activities on a regular basis and have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives, and in planning future activities. We consider that we meet these public benefit requirements and that they are reflected in this report and the examined financial statements. In particular, Trustees consider how planned activities will meet the main objectives of the Association
The charity's aims including the changes or differences it seeks to make through its activities:
To improve the life skills and employment prospects of our beneficiaries.
## **An explanation of the charity's main objectives for 2022**
To ensure the charity's ongoing sustainability, for the benefit of our clients. To adapt to the changing nature of funding and the needs of our clients. To continue to invest in the development of staff, management and volunteers.
## **An explanation of the charity's strategies for achieving its stated objectives**
To achieve the above with minimum negative impact on all stakeholders, in particular our beneficiaries, by direct consultation and communication.
## **Details of significant activities (including its main programmes, projects, or services provided) that contribute to the achievements of the stated objectives**
Continuing the development of The Hub and its services. Continuing to invest in the charity's facilities, staff and client services. Continuing of the Advocacy and Support initiative.
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## **WHERE NEXT ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Summary of main activities:**
The fallout from the pandemic left its residual effect on the charity for the whole of the year. Despite the majority of the UK having all restrictions lifted those organisations, such as Where Next, operating in the Health and Social Care sector had to continue to follow a significant number of covid guidelines. This meant that daily operations needed to continue to have some level of restrictions which, although worked around, was an added responsibility to the charity.
In early 2022 the additional impact of the cost-of-living crisis, sparked by the war in Ukraine has meant that costs have rocketed, particularly utilities and amenities. That said Where Next has responded strongly to this and has implemented multiple cost saving exercises which have brought some of the expenditure down to more manageable levels.
Some of the ways the charity responded proactively:
- Conducting energy saving surveys, which have enabled a change in practice to assist with reducing overheads.
- Ensuring staff, service users and volunteers are kept safe and secure with comprehensive, but easy to follow infection control rules.
- Ensuring that everyone feels safe when they are on site, especially as there was an increase in anxiety due to the pandemic.
Work experience and training has continued to be provided through our business units at both our garden centres/ nurseries, our industries site and our gardening services unit. These give our clients experience in horticulture, carpentry, small assembly, retail, garden maintenance and training, which all help to build their capacities, skills and confidence. Modifications were made to all operations, with a full spectrum of services available to all.
The number of people we are supporting has increased beyond pre-pandemic levels, which contrasts with many other day-service-providers who have seen a reduction in client service users. At the end of 2022 we are also still experiencing large numbers of enquiries for our services.
The contribution of volunteers:
- We have thirteen volunteers who work along employed staff and provide valuable additional support. We also have a committed volunteer board of eight trustees.
## **Achievements and performance Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Review of activities**
All activities for our beneficiaries were continued throughout the year. We continued to adapt to all aspects of infection control and continuing health and safety regulations. We developed an adaptable way of working, so that any changes to regulations could easily be integrated into the daily operations of the charity.
- 4 -
## **WHERE NEXT ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Fundraising activities/lncome generation**
There is an ongoing necessity to generate funds from grants and donations as there has not been an increase in day service fees from the local authority since 2011, whilst costs have greatly increased. Since 2020 Where Next has considerably enhanced its grant fundraising and although these figures have dropped in 2022 they are still considerably higher than in 2019.
The support of our donors is essential to the continuing success of the work of the charity and we value it greatly. A large number of individuals support us through their ongoing donations. Amongst the organisations who supported us through the year are:
Persimmon Homes – Greenhouse Baily Thomas Charitable Fund Worcestershire County Council Masonic Charitable Foundation Henry Smith Charity Eveson Charitable Trust The National Lottery Community Fund -Awards for All The National Lottery Community Fund – Reaching Communities 29th May 1961 Charitable Trust Clothworkers Foundation Saintbury Trust Wilmcote Charity Trust Zurich Community Trust Asda Foundation Hedley Foundation AT&T Roger & Douglas Turner CT WA Cadbury Charitable Trust
## **Employment of disabled persons**
During the year the charity provided vocational and life skills activities for 141 (last year: 124) people with disabilities. We employ four people with disabilities.
## **Factors relevant to achieving objectives**
During this third year of the pandemic and coupled with the cost-of-living crisis we have shown great resilience, but the costs that the charity have incurred have been much higher than anyone could have predicted. However, we have continued to take both a proactive and a reactive approach to the way we have functioned through this period. It has been challenging, but as we have a strong stakeholder network and good resilience the charity has fared well.
We continue to engage with all stakeholders so-as-to appropriately inform our ongoing development and commitment to the welfare of the people who we support.
- 5 -
## **WHERE NEXT ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Reserves are maintained:**
- To provide for redundancy payments and other costs in the event of closure of the charity,
- To provide for the replacement cost of motor vehicles
- To provide for development of the charity and management development (a total of eight major projects),
- To be used on various projects arising.
All these areas are properly researched and re-examined at least annually. These are incorporated into the Association's dedicated funds which at year-end totalled £407,210 which are held as both current and noncurrent assets.
## **Principal funding**
A principal source of funds continues to be payment for daytime support services. For 2022 this amounted to £393,610 (2021: £401,546).
Our businesses generated a trading income of £100,447 (2021: £57,942) in the year which these financial statements cover.
In addition, we also are continuing to receive funding from the Big Lottery, through a new three-year grant, to fund the development of the work that we undertake at The Hub
We continue to be supported by Redditch Borough Council by way of grant. Other funds come from donors for specific projects. All expenditure is kept under close control in order to maximise the benefits to the clients. Overall, we consider the Charity to be in a satisfactory financial state for the future. As always, there are challenges ahead but we think we are in a good position to meet them.
## **Plans for 2023**
Covid and the cost-of-living crisis has had a major impact on the charity and its ability to provide the support that the organisation is well known for. Although, the charity has remained open for the whole time it was permitted to, it has had to navigate complex new regulations and overcome new and varied challenges. Where Next has succeed where many other organisations have failed. The charity has been both reactive and proactive, which has meant that through these difficult times it has been able to continue to support people at the highest level.
As part of our plans for 2023 and beyond we are looking to become less reliant on external providers of utilities. We have commissioned an energy survey, which will show how we can invest in energy saving and production. This project will help the charity to reduce expenditure by tens of thousands of pounds each year and will improve the organisation’s green credentials.
We will continue to develop our fundraising and income generation across all sites by ensuring that we maximise the potential for grant fundraising, shop and commercial sales and paid placement revenue.
## **Information on fundraising practices**
The core fundraising practices that we undertook in this period were:
- Community fundraising
- Fundraising Events
- Trusts and Foundations grant fundraising
There were no relationships with professional fundraisers or commercial participators during the year. An internal fundraiser is employed by the Association who focusses on grant fundraising and community engagement, and we also work with strategic development consultants to provide support to our various areas of income generations.
Fundraising efforts are directed at individuals and organisations, who have consented, and their information is not passed onto third parties. The association has not registered with the Fundraising Regulator and no complaints were received by the Association during the year.
- 6 -
## **WHERE NEXT ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Financial review**
The Trustees consider the financial performance by the charity during the year has been within expectations considering the economic background.
The statement of financial activities shows incoming resources for the year of £685,781 (2021: £771,909) with resources expended of £664,555 (2021: £730,087). This gave rise to an operating surplus of £21,226 (2021: surplus of £41,822) before an unrealised loss on investment of £25,867 (2021: gain of £30,100). The deficit for the year therefore was £4,641 (2021: surplus of £71,922).
Total reserves at the year-end stood at £617,382 (2021: £622,023) of which £614,511 (2021 £556,392) was unrestricted (with some designation).
## **Structure, governance and management Constitution**
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 16 May 1984. The company is constituted under a Memorandum of Association dated 16 May 1984 and is a registered charity number 0517248.
The principal object of the company is to provide educational training for unemployed persons in the area who are suffering from learning difficulties or are socially deprived or disadvantaged.
Ms P Brook Ms J Edmondson Ms M Raine Mr R Read (Treasurer) Mr T D Twynam (Chairman) Mr J Williams Ms L Sandford (Resigned 26 September 2022) Ms P Wheatcroft Mr I Chavasse (Appointed 14 September 2022)
## **Method of appointment or election of Trustees**
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association, The Trustees serving during the year are listed on page 1.
## **Policies adopted for the induction and training of Trustees**
We recruit through word of mouth and by direct approach to people who have skills that we require. In accordance with our Memorandum and Articles of Association Trustees are nominated and elected at our AGM each year. We can also co opt Trustees throughout the year. No other person or body is entitled to appoint Trustees to the charity. All of the Trustees act in a voluntary capacity and do not receive any benefits from the charity.
## **Organisational structure and decision making**
Policy decisions are made by the Trustees. The day to day operation is managed by the CEO under the delegated authority of the Trustees and through his unit managers. The Trustees maintain a watching brief and hold regular meetings of the Finance Committee and the Board of Trustees, to which the CEO reports.
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## **WHERE NEXT ASSOCIATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Related party relationships**
As a leading provider of services in Worcestershire, Where Next takes an active part in the County Council's Partnership Board and other committees which seek to influence and direct services for people with learning difficulties in the area. Where Next is also active in the various local and national networks in the wider charitable sector as well as those specifically for organisations working with people with learning difficulties. We are continuing to develop such local links in Warwickshire. With the change in funding environment the charity is increasingly working with parents, carers and funders.
## **Risk management**
The Board, and Senior Management Team, conducts the charity's own review of the major risks to which the charity is exposed and systems which have been established to mitigate those risks. The major risk to which the charity is exposed is the ongoing reduction in the level of funding available to Councils for the provision of Personal Budgets. The second major risk is the continued slowdown in the general economy which could affect charitable donations. In addition, the current political uncertainty surrounding Brexit has caused destabilisation, which could have short medium and long term implications. Internal risks are minimised by procedures for authorisation of all transactions and projects and to ensure consistent quality.
The trustees' report was approved by the Board of Trustees'.
Mr T D Twynam (Chairman) **Chairman**
30 August 2023
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## **WHERE NEXT ASSOCIATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES' OF WHERE NEXT ASSOCIATION**
I report to the trustees' on my examination of the financial statements of Where Next Association (the charitable company) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the trustees' of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charitable company 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 charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (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 charitable company’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 Chartered Accountants, 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 that in any material respect:
- 1 accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
## **Jerroms**
## **Richard Alan Horton (FCCA) Chartered Certified Accountants**
Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
Dated: .........................
- 9 -
## **WHERE NEXT ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
120,679
69,660
Charitable activities
**4**
494,057
-
Investments
**5**
1,385
-
Other income
**6**
-
-
**Total income**
616,121
69,660
**Expenditure on:**
Charitable activities
**7**
532,135
132,420
Net gains/(losses) on
investments
**11**
(25,867)
-
**Net movement in funds**
58,119
(62,760)
Fund balances at 1 January
2022
556,392
65,631
**Fund balances at 31**
**December 2022**
614,511
2,871|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
190,339
82,477
226,837
494,057
461,565
-
1,385
30
-
-
1,000
-
685,781
545,072
226,837
664,555
407,432
322,655
(25,867)
30,100
-
(4,641)
167,740
(95,818)
622,023
388,652
161,449
617,382
556,392
65,631|**Total**
**2021**
**£**
309,314
461,565
30
1,000|
|---|---|---|
|||771,909|
|||730,087|
|||30,100|
|||71,922
550,101|
|||622,023|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **WHERE NEXT ASSOCIATION**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
Investments
**13**
**Current assets**
Stocks
**14**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**18**
Unrestricted funds
Designated funds
**19**
General unrestricted funds|**2022**
**£**
12,947
34,119
326,598
373,664
(62,592)
538,196
76,315|**2021**
**£**
**£**
38,406
267,904
306,310
22,032
29,932
432,012
483,976
(153,462)
311,072
617,382
2,871
507,210
49,182
614,511
617,382|**£**
47,738
243,771|
|---|---|---|---|
||||291,509
330,514|
||||622,023|
||||65,631
556,392|
||||622,023|
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## **WHERE NEXT ASSOCIATION**
## **BALANCE SHEET (CONTINUED)**
## _**AS AT 31 DECEMBER 2022**_
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The trustees' acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees' on 30 August 2023
Mr R Read (Treasurer)
**Trustee**
## **Company registration number 01816907**
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## **WHERE NEXT ASSOCIATION**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**23**
**Investing activities**
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Purchase of investments
Investment income received
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2022**
**£**
**£**
(56,799)
-
-
(50,000)
1,385
(48,615)
-
(105,414)
432,012
326,598|**2021**
**£**
(17,241)
1,000
(50,000)
29|**£**
159,785
(66,212)
-
93,573
338,439
432,012|
|---|---|---|---|
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## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
Where Next Association is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charitable company's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees' have a reasonable expectation that the charitable company 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.
## **1.3 Charitable funds**
General funds are unrestricted funds which are available for use at the discretion of the trustees' in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise of unrestricted funds that have been set aside by the trustees' for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company 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.
## **1.4 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
- 14 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time of supporters is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
## **1.5 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 are allocated on the portion of the asset’s use.
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.
Costs of generating funds are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management.
Cost of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
- 15 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Tangible fixed assets**
All assets costing more than £500 are capitalised.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Buildings 5% Straight Line Leasehold improvements Over the term of the lease Plant and equipment 20% Straight Line Motor vehicles 20% Straight Line
## **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. Transaction costs are expensed as incurred. Changes in fair value are recognised in other recognised gains and losses except to the extent that a gain reverses a loss previously recognised in net income expenditure, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in net income/(expenditure) for the year.
## **1.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Costs includes all direct costs.
## **1.9 Cash and cash equivalents**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.10 Financial instruments**
The charitable company 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 companies balance sheet when the charitable company 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.
## _**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.
- 16 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
## _**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 companies contractual obligations expire or are discharged or cancelled.
## **1.11 Taxation**
As a registered charity, Where Next Association is exempt from income and corporation tax to the extent that its income and gains are applicable to charity purposes only. Value added tax is not fully recoverable by the company and is therefore included in the relevant costs in the statement of financial activities.
## **1.12 Retirement benefits**
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
## **1.13 Taxation**
As a registered charity, Where Next Association is exempt from income and corporation tax to the extent that its income and gains are applicable to charity purposes only. Value added tax is not fully recoverable by the company and is therefore included in the relevant costs in the statement of financial activities.
## **2 Critical accounting estimates and judgements**
Estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.
There are no areas within the accounting policies where judgements or estimates are made which could impact significantly on the amounts recognised in the financial statements.
- 17 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
120,332
69,660
Legacies receivable
347
-
120,679
69,660|**Total**
Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
189,992
81,136
226,837
347
1,341
-
190,339
82,477
226,837|Total
2021
£
307,973
1,341|
|---|---|---|
|||309,314|
## **4 Charitable activities**
|**Services for**
**trainees**
**Charitable**
**trading**
**2022**
**2022**
**£**
**£**
Services for trainees
393,610
-
Charitable trading
-
100,447
Other income
-
-
393,610
100,447|**Total**
**2022**
**Services for**
**trainees**
**Charitable**
**trading**
**2021**
**2021**
**£**
**£**
**£**
393,610
401,546
-
100,447
-
57,942
-
2,077
-
494,057
403,623
57,942|**Total**
**2021**
**£**
401,546
57,942
2,077|
|---|---|---|
|||461,565|
## **5 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Interest receivable|1,385|30|
|**Other income**|||
||**Total**|Unrestricted|
|||funds|
||**2022**|2021|
||**£**|£|
|Net gain on disposal of tangible fixed assets|-|1,000|
## **6 Other income**
- 18 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **7 Charitable activities**
|**Services to**
**trainees**
**Charitable**
**trading**
**2022**
**2022**
**£**
**£**
Staff costs
292,665
50,247
Charitable activities spent
43,047
-
Client and staff expenses
3,001
-
Repairs
-
22,903
Cost of goods sold
-
38,170
Tools
-
968
Travel and vehicle costs
-
13,086
Covid-19 related
expenditure
-
-
338,713
125,374
Share of support costs (see
note 8)
157,014
39,254
Share of governance costs
(see note 8)
3,360
840
499,087
165,468
**Analysis by fund**
Unrestricted funds
366,667
165,468
Restricted funds
132,420
-
499,087
165,468|**Total**
**2022**
**Services to**
**trainees**
**Charitable**
**trading**
**2021**
**2021**
**£**
**£**
**£**
342,912
289,794
43,303
43,047
66,864
-
3,001
9,950
-
22,903
-
32,006
38,170
-
2,981
968
-
7,203
13,086
-
17,605
-
-
1,708
464,087
366,608
104,806
196,268
221,566
33,107
4,200
3,480
520
664,555
591,654
138,433
532,135
268,999
138,433
132,420
322,655
-
664,555
591,654
138,433|**Total**
**2021**
**£**
333,097
66,864
9,950
32,006
2,981
7,203
17,605
1,708|
|---|---|---|
|||471,414
254,673
4,000|
|||730,087|
|||407,432
322,655|
|||730,087|
- 19 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **8 Support costs**
|Staff costs
Depreciation
Telephone and office
Premises costs
Sundry expenses
Publicity and marketing
Legal and professional fees
Examiners remuneration
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
100,124
-
9,331
-
28,558
-
42,280
-
6,829
-
2,312
-
6,834
-
-
4,200
196,268
4,200
196,268
4,200|**2022**
**£**
100,124
9,331
28,558
42,280
6,829
2,312
6,834
4,200
200,468
200,468|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
88,617
-
12,339
-
31,005
-
81,270
-
25,513
-
4,075
-
11,854
-
-
4,000
254,673
4,000
254,673
4,000|**2021**
**Basis of allocation**
**£**
88,617
Support costs are allocation based on
proportion of donations received.
12,339
31,005
81,270
25,513
4,075
11,854
4,000
258,673
258,673|
|---|---|---|---|---|
Support costs are allocated on the basis of the estimated proportion of usage of resources.
Governance costs of £4,200 (2021 - £4,000) are included in support costs being examiners remuneration.
- 20 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **9 Trustees'**
None of the trustees' (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
## **10 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2022**
**Number**
23
**2022**
**£**
401,888
30,727
10,421
443,036|**2021**
**Number**
27|
|---|---|---|
|||**2021**
**£**
389,850
22,058
9,806|
|||421,714|
There were no employees whose annual remuneration was more than £60,000.
## **11 Net gains/(losses) on investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Revaluation of investments|(25,867)|30,100|
- 21 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**12**
**Tangible fixed assets**
**Cost**
At 1 January 2022
At 31 December 2022
**Depreciation and impairment**
At 1 January 2022
Depreciation charged in the year
At 31 December 2022
**Carrying amount**
At 31 December 2022
At 31 December 2021|**Buildings**
**Leasehold**
**improvements**
**Plant and**
**equipment**
**Motor vehicles**
**£**
**£**
**£**
**£**
68,871
26,191
204,257
61,211
68,871
26,191
204,257
61,211
36,683
26,191
201,193
48,725
3,444
-
2,239
3,649
40,127
26,191
203,432
52,374
28,744
-
825
8,837
32,188
-
3,064
12,486|**Total**
**£**
360,530|
|---|---|---|
|||360,530|
|||312,792
9,332|
|||322,124|
|||38,406|
|||47,738|
- 22 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **13 Fixed asset investments**
|**Cost or valuation**
At 1 January 2022
Additions
Valuation changes
At 31 December 2022
**Carrying amount**
At 31 December 2022
At 31 December 2021
**14**
**Stocks**
Finished goods and goods for resale
**15**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**16**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**17**
Trade creditors
Other creditors
Accruals|**Managed funds**
**£**
243,771
50,000
(25,867)
267,904
267,904
243,771
**2022**
**2021**
**£**
**£**
12,947
22,032
**2022**
**2021**
**£**
**£**
17,912
17,406
6,071
-
10,136
12,526
34,119
29,932
**2022**
**2021**
**£**
**£**
6,917
7,012
37,125
106,245
13,008
8,423
-
1,831
5,542
29,951
62,592
153,462|
|---|---|
- 23 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **17 Deferred income**
|**2022**
**£**
Arising from Deferred Income
37,125
Deferred income is included in the financial statements as follows:
**2022**
**£**
Deferred income is included within:
Current liabilities
37,125
Movements in the year:
Deferred income at 1 January 2022
106,245
Released from previous periods
(106,245)
Resources deferred in the year
37,125
Deferred income at 31 December 2022
37,125|**2021**
**£**
106,245|
|---|---|
||**2021**
**£**
106,245|
||39,700
-
66,545|
||106,245|
Deferred income relate to grant payments received from The National Lottery Community Fund. The grants received will contribute to staff, core and running costs across the organisation from January 2023 to December 2023.
- 24 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **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:
|**Balance at**
**1 January 2021**
**r**
**£**
Shades of Green
83
Clients Spernal
368
Industries
631
Nurseries
193
Old Lodge
153
Potting Area
-
Insulation
-
LED Lighting
176
Redditch Car Park
1,138
Seeds, Bulbs, Compost
-
Young People
2,000
SOG Machinery
-
Work Placements
80,481
Julia and Hans Trust
26,644
Covid
47,232
Spernal Office
810
Nurseries Solar Panel
1,540
Green House Project
-
161,449|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
-
547
-
-
-
24
-
-
-
9,444
(8,083)
3,000
-
-
-
5,501
(1,364)
12,389
(5,758)
-
-
650
(650)
198,957
(259,438)
-
-
850
(32,362)
-
-
475
-
15,000
(15,000)
246,837
(322,655)|**Deferred**
**Balance at**
**1 January 2022**
**r**
**£**
**£**
-
83
-
915
-
631
-
217
-
153
-
1,361
-
3,000
-
176
-
5,275
-
6,631
-
2,000
-
-
(20,000)
-
-
26,644
-
15,720
-
810
-
2,015
-
-
(20,000)
65,631|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
(83)
296
(1,211)
-
(631)
15
(232)
-
(153)
-
(1,361)
-
(3,000)
-
(176)
-
-
-
(5,775)
-
(2,000)
-
-
49,350
(49,350)
-
(26,644)
-
(15,720)
-
-
-
-
20,000
(20,000)
69,661
(126,336)|**Transfers**
**Balance at**
**31 December**
**2022**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(5,275)
-
-
856
-
-
-
-
-
-
-
-
-
-
(810)
-
-
2,015
-
-
(6,085)
2,871|**Transfers**
**Balance at**
**31 December**
**2022**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(5,275)
-
-
856
-
-
-
-
-
-
-
-
-
-
(810)
-
-
2,015
-
-
(6,085)
2,871|
|---|---|---|---|---|---|
||||||2,871|
- 25 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **18 Restricted funds**
**(Continued)**
The purposes of the funds recognised are as follows
**Restricted funds** : these are funds received specifically for use in different areas of the charity's current operations as the title of each fund indicates.
- 26 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **19 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 January 2021**
**Resources**
**expended**
**£**
**£**
Closure fund
116,165
(2,527)
Motor vehicle
fund
29,451
(18,329)
Business
development
and capacity
building
8,500
-
154,116
(20,856)|**Movement in funds**
**Transfers**
**Balance at**
**1 January 2022**
**Incoming**
**resources**
**Transfers**
**Balance at**
**31 December**
**2022**
**£**
**£**
**£**
**£**
**£**
-
113,638
25,711
-
139,349
32,450
43,572
-
-
43,572
341,500
350,000
-
5,275
355,275
373,950
507,210
25,711
5,275
538,196|**Movement in funds**
**Transfers**
**Balance at**
**1 January 2022**
**Incoming**
**resources**
**Transfers**
**Balance at**
**31 December**
**2022**
**£**
**£**
**£**
**£**
**£**
-
113,638
25,711
-
139,349
32,450
43,572
-
-
43,572
341,500
350,000
-
5,275
355,275
373,950
507,210
25,711
5,275
538,196|
|---|---|---|
|||538,196|
The purposes of the funds recognised are as follows
**Closure fund** : earmarked to ensure that costs of closure could be fully met in the event of this being considered necessary.
**Motor vehicle fund** : earmarked to ensure that funds are available to cover the cost of replacement of the vehicles if necessary.
**Business development and management development fund** : funds earmarked from a legacy to allow the development of the organisation to ensure ongoing sustainability and capacity as the external funding and social environments change.
**Other projects** : smaller projects where funds have been earmarked.
## **20 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31
December 2022 are
represented by:
Tangible assets
38,406
-
Investments
267,904
-
Current assets/(liabilities)
308,201
2,871
614,511
2,871|**Total**
Unrestricted
funds
Restricted
funds
**2022**
2021
2021
**£**
£
£
38,406
47,738
-
267,904
243,771
-
311,072
264,883
65,631
617,382
556,392
65,631|Total
2021
£
47,738
243,771
330,514|
|---|---|---|
|||622,023|
- 27 -
## **WHERE NEXT ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **21 Operating lease commitments**
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years
In over five years|**2022**
**£**
28,930
73,276
8,204
110,410|**2021**
**£**
17,173
66,311
24,613|
|---|---|---|
|||108,097|
## **22 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
|**23**
**Cash generated from operations**
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of tangible fixed assets
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
(Decrease)/increase in deferred income
**Cash (absorbed by)/generated from operations**|**2022**
**£**
(4,640)
(1,385)
-
25,867
9,331
9,085
(4,187)
(21,750)
(69,120)
(56,799)|**2021**
**£**
71,921
(30)
14,002
(30,100)
12,339
(9,748)
10,238
24,618
66,545|
|---|---|---|
|||159,785|
## **24 Analysis of changes in net funds**
The charitable company had no debt during the year.
- 28 -
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## **Approval Activity Summary**
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## **Date**
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