Charity Number: 102829 Company Number: Nl 029506 Job Directions Limited Acom an limited b uarantee Trustees, Re ort and Financial Statements for the ear ended 31 March 2023
Job Directions Limited ort and financial statements Contents Page Company Infomation Trustees, Report Independent Examine¢s' report to the trustees Statement of financial activities Balance Sheet Cash flow statement Notes to the financial statements 10-17
Job Dlrections Llmite an Information Trustees Christin8 Mullen David Canning Paul Crawford Sandra Pollock John Mccosker Eamor¢ Mccay Secretary John M¢Cosker Auditors FMC Accountants 34 Market Street Strabane Co. Tyrone BT82 8BH Bankers First Trust Bank 71 Main Street Strabane Co. Tyrone BT82 8AU Bank of Ireland Abercorn Square strabane Co. Tyrone BT82 8AH Shawbrook Bank Great Warley BrentAood Essex CM13 3BE Aldemiore Block B Westem House Lynch Vvood Pelerborough PEZ 6FZ Hampshire Trust Bank 131 Finsbury Pavement London EC2A 1NT Julian Hodge 29 Windsor Place Cardiff CF10 3BZ Virgin Money 30 St VinnI Place Glasgow G3 2HL United Trusl Bank 1 Ropemaker Street London EC2Y 9AW Cambridge & Counties Bank The Charity Bank Ltd Charnwood Court Fosse House 5B New Walk 182 High Street Leicester Tonbridge LE16TE TN9 1BE Redwood Bank Nationwide Building Society The Nexus Building Kings Park Road Letchworth Garden City Moulton Park Hertfordshire Northampton SG6 3TA MN3 6NW Allica Bank Limited 100 Avebury Blvd Milton Keynes MK9 1FH Solicito Mccay Solicitors 1 John Wesley St Strabane Co. Tyrone BT82 8EF Registsred offico Unil 10 3-5 Upper Main Street Slrabane Co. Tyrone BT82 8AR Reglsterod numbgr NI 029506 Charity number 102829
Job Dlrections Llmited Directors. Re ort The trustees present their report and financial statements for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements comply with the Charities Regulations (Northem Ireland) 2015, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102) (effective 1 January 2015). The trustees, who are also directors for the purpose of company law and who served during the year end and up to the date of this report are as follows- Christina Mullen David Canning Paul Crawford Sandra Pollock John Mccosker Eamon Mccay Principal activities The charity's principal activity during the year was to provide work for unemployed adults in the Strabane District Council area with the mentoring, advice, guidance and training required to improve their prospects of gaining employment. The aim is to give individuals the opportunity to obtain employment or advance their educational training goals. The charity administrates various schemes which operate on the above principles. Objectives and Activities Job Directions Limited has been established for over 20 years and is renowned for their grass roots level approach in supporting the community by providing a range of services that provide vital support to people within the community who are unemployed and may become employed, job seekers, apprentices, trainees, or persons who may come into the foregoing categories. The charity assists by competing for and securing employment through the provision of relevant education, training, guidance and experience. Job Directions Limited has been successful in placing multiple individuals in employment and training and education programmes through the 'Lemis North West,, 'Seeds' & 'Wee Job, programmes during the year. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning for future activities and setting the policy for the year. Public Benefit Statement The direct benefits which flow from purpose the purpose is to assist those persons who are or may become employed, job seekers, apprentices, trainees, or persons who may come into the foregoing categories, in competing for and securing employment through the provision of relevant education, training, guidance, experience and or for the advancement of any such category of person in the labour market, such activity to include any part of the European Union. We also aim for unemployed people or economically inactive people to gain employment or take up education and training. Employment income helps relieve poverty. The charity's beneficiaries are the unemployed who live in the European Union, who claim out of work benefits. The economically inactive who live in the European Union, who claim benefits. The economically inactive who live in the European Union, who do not claim benefits. The only private benefit flowing from this purpose is that individuals wi15 gain employment or access to education and training and this is incidental and necessary because Job Directions purpose is to assist all those who are unemployed or economically inactive to achieve this purpose.
Job Dlrectlons Limited Directors. Re ort Achievements and performance Job Directions secured ongoing funding for the 2022-23 financial year to enable it to deliver all existing programmes, Wee Job, SEEDS and Lemis. The "A Wee Job" programme assisted 40 beneficiaries, 14 obtained employment with our support, 9 progressed to formal education, training or voluntary work and 5 gained a qualification via the programme, a significant improvement on the previous year. The Lemis" programme supported 159 beneficiaries during the year, 93 obtained employment, 12 progressed to further education or training and 10 obtained a qualification. The "SEEDS programme assisted 197 beneficiaries, 76 secured employment, 77 progressed to further education or training and 61 obtained a qualification via the programme. Financial Review During the year 31 March 2023, the charity received total income of £538,985 and had an overall surplus of £78,207. Income from grants showed an increase of £58,196 during the year. No fixed assets were purchased. The charity had reserves at 31 March 2023 of £1,284,939. The charity is in a solid financial position and there are no concerns about its ability to continue as a going concern. Reserves Policy While funding for the charity's core activities is secured until 2023, Job Directions Limited needs a reserves policy to have sufficient cash reserves should the charity experience cash flow problems, to service lease agreements on property, to honour seNice contracts in place or costs involved in any potential wind up of the charity andlor provision for redundancy costs. It is recommended that reserves for the running costs of core activities be retained. The target set and realised in the previous year is £500,000. The level of reserves are reviewed by the trustees and management regularly throughout the year. The minimum level of reserves for the ongoing needs of the charity is reviewed by the trustees on annual basis. Plans for the future As we enter into 2023124 the organisation will continue to provide services, whilst new soruces of funding are sought. Actions have been taken to reduce costs, downsizing premises and reducing the overall staffing levels via voluntary redundancy, no staff were made redundant on a compulsory basis. The charities reseNe policy has been revised and the trustees are clear that there is sufficient funding to met the demand for services form beneficiaries for the next 3 years, even in the absence of new funding sources. Despite the loss of funding Job Directions will continue to provide services to the unemployed and economically inactive across the district in 2023-2024.
Job Directions Limited Directors, Re ort Structure, governance and management Job Directions Limited is a company limited by guarantee with charitable status, incorporated on the th th 4 May 1995, and registered as a charity in Northern Ireland on 17 September 2015. The company was established under Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the winding up of the company each member is required to contribute no more than £1. The trustees of the charity when elected serve until the next annual general meeting at which they must be re£lected. The trustees of the charity seek to appoint new charity trustees be contacting individuals who have shown an interest in the charity activities and have sufficient knowledge or skills to carry out the role of a trustee. The management operate a system of internal control designed to provide reasonable assurance, but not absolute assurance aqainst material misstatement or loss. They include the;_ regular consideration by the trustees of progress reports regarding operational activities. These are carried out detailing performance indicator levels such as participant numbers and financial breakdowns. Any deviations from targets are highlighted and contingency actions are implemented. delegation of authority and segregation of duties among staff. identification and management of risks to which the charity is exposed. statement of trustees. responsibilities The trustees (who are also directors of Job Directions Ltd for the purposes of company law are responsible for preparing the Trustees, Annual Report (including the Strategic Report) 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. Under the law the trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom GeneraSly Accepted Accounting Practice. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the directors are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities ISORP 20191 (FRS 102)- make judgements and estimates that are reasonable and prudent; state whether applicable UK 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 charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Job Directions Limited Directors, Re ort Independent Examiner FMC Accountants were appointed independent examiners to the charity and a resolution proposing their reappointment will be put to the Annual General Meeting. Small company exemption This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. The directors are of the opinion the company 15 entitled to exemption from audit in accordance with section 475(2) and section 47513) of the Companies Act 2006. The Trustees, Annual Report, and the Strategic Report included therein, was approved by the board on 24 November 2023 and signed on its behalf. Christina Mullen Trustee (Chairperson) n Mccosker rustee (Secretary)
Job Dlrections Limited Independent examiner's report to the members of Job Dlrectlons Llmlted on the unaudlted flnancial statements for the year ended 31 March 2023 W8 report on the financial statsments of the company for the year ended 31 Mah 2023 which are sel out on pages 7 to 15. Respectlve Responsibilities of Directors and Independent Examiner As the charitable company's directors, who are the trustees for the purpose of charity law, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charitable company is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to- examine the accounts under section 65 of the Charities Act (Northem Ireland) 2008; follow the procedures laid down in the general directions given by the charity commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008., and state whether particular matters have come to ou'r attention Basis of Independent Examiner's Report We have examined your charitable company's financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and our examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the Charities Act (Northern Ireland) 2008. The examination included a review of the accounting records kept by the charitable company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as a charitable company directors concerning any such matters. Our role is to state whether any material matters have Come to our attention giving us cause to believe.. that accounting records were not kept in accordance with section 386 of the Companies Act 2006., or that the accounts do not accord with those accounting records,. or that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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., or that there is further information needed for a proper understanding of the accounts to be reached. Independent Examiner's Statement We have completed our examination and have no concerns in respect of the matters listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Steph&n M¢Cartan for and on behalf of FMC Accountants Chartered Accountants 24 November 2023 34 Market Street strabane Co. Tyrone BT82 8BH
Job DTre¢tlons Llmited Statement of flnanclal activitles Incor for the ear nded 31 March 2023 oratin he Income and 8X endItU account Notes Unrestricted Restricted funds funds 2023 2022 Incoming reSoUrS from generating funds.. Voluntary inwme Investment income 530,453 530,453 8,532 472,257 4,952 8,532 Incoming resource5 from charitable activities Other incoming resources (2,782) 2,782 2,782 Total Incomlng rgsources 5.750 533,235 538.985 479,991 Resources expended Charitable activities 680 457,398 458,078 403,351 Governance costs 2,700 2,700 3,000 Tolal resources expended 680 460,098 460.778 406,351 Not Incomlngl(outgoing} resour¢es before transfers 5,070 73,137 78,207 73,640 Transfers been funds 83.066 183,066) Net incomingl{outgoingl resources for the year 88.136 {9,9291 78.207 73,640 Total funds brought foNard 1,160,153 46,579 1,206,732 1,133.092 Total funds Carrled foNiard 1,248,289 36,650 1,284.939 1,206,732 The charity has no recognised gains or losses other than those shown in the statement of financial activities in the above financial period and there have been no discontinued activities or acquisitions in this period. The notes on page5 12 to 19 foTm an integral part of these financial ststements.
Job Directions Limited Balance Sheet as at 31 March 2023 Notes 2023 2022 Fixed assets Tangible assets 13 2,722 3,403 Current assets Debtors Cash al bank and in hand 14 58,992 1,239,882 1,298,874 76,810 1,155,498 1,232,308 Creditors: amounts falling due within one year 15 (16,6571 128,9791 Net current assets 1,282,217 1,203,329 Net assets 1,284,939 1,206,732 Funds Restricted funds General funds Designated funds 17 18 18 36,650 748,289 500,000 46,579 660,153 500,000 Shareholders. funds 1,284,939 1,206,732 For the year ended 31 March 2023 the company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies. No member has required the company to obtain an audit of its accounts for the year ended 31 March 2023 in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The financial statements have been prepared in a¢¢ordan¢e wilh the provisions in Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. Christina Mullen Trustee (Chairperson) Approved by the board on 24 November 2023 ohn Mccosker Trustee (Secretary) Company Registered number: NI 029506 The notes on pages 12 to 19 fomi an integral part of these financial statements.
Job Directions Limited Statement of Cash Flows for the ear endin 31 March 2023 Notes 2023 2022 Cash used in operating activitles 20 75.851 46,954 Cash flows from investing activltles Interest income Purchase of tangible fixed assets 8,532 4,952 Cash provided by (used In) investing activities 8,532 4,952 Increase (decrease) in cash and cash equivalents in the year 84,383 51,906 Cash and cash equivalents at the beginning of the year 1,155,498 1,103,592 Total cash and cash equivalents at the end of the year. 1,239,881 1,155,498
Job Directions Limited Notes to the Financial Statements for the ear ended 31 March 2023 1 Accountin olicies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. a) Basls of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Job Directions Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheNise stated in the relevant accounting policy notes. The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to a51 years presented unless othetwise stated. b) Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Grants for the purpose of capital expenditure are credited to deferred income when receivable and amortised in line with depreciation. Investment income is included when receivable. Incoming resources from charitable trading activities are accounted for when earned. ) Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third paty. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of charitable activities incSudes the costs of training programmes delivered, commercial trading and other educational activities undertaken to further the purposes of the charity and their associated support costs. Governance costs represents those items required to audit and report on the charity activities. 10
Job Directions Llmlted Notes to the Financial Statements for the ear ended 31 March 2023 d) Fund a¢counting The Charity has types of funds for which it is responsible: (1) Unrestricted funds - the unrestricted fund is under the control of the Board of Trustees, to be used in the furtherance of the objectives of the charity. (2) Restricted funds the restricted fund represents donations and grants received where the donor has imposed restrictions on the use of the funds which are legally binding on the Board of Trustees. Designated funds are unrestricted or restricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. e) Tangible fixed assets Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives. Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Fixtures, fittings & equipment 20 /0 reducing balan g) Investments Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year. h) Stock stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. i) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. j) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. k) Credltors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after alSowing for any trade discounts due. 11
Job Directions Limited Notes to the Financial Statements for the ear ended 31 March 2023 l) Foreign currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. m) Penslons The Charity operates an autoenrollment contribution pension scheme for staff who wish to avail of it. The assets of the scheme are held separately from those of the charity. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. n) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. o) Going concem The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 2 Legal status of the Charity The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 3 Provisions available for audits of small entities In common with many other businesses of our size and nature, we use our auditors to assist with the preparation of the financial statements. 4 Incomin resources Unrestricted funds Restricted funds 2023 2022 Grants & Donations Lemis North West Department for the Economy- 'Seeds' Department for the Economy-'Wee Job, Derry City & Strabane District Council - 'Wee Job, 448,136 53,506 448,136 53,506 410,439 47,268 28,811 530,453 28,811 530,453 14,550 472,257 12
Job Directions Limited Notes to the Financial Statements for the ear ended 31 March 2023 S Income from Investments Unrestrlcted funds Restricted funds 2023 2022 Interest - deposits 8,532 8,532 8,532 4,952 4,952 6 Other incomin resources Unrestricted funds Restricted funds 2023 2022 Covid-19 support grant 2,782 2,782 7 Cost of charltable activities Unrestricted funds Restricted funds 2023 2022 Training provider costs Training placement allowances Training course costs Wages and salaries Wages and salaries - redundancy costs Pensions Rent and rates Insurance Light and heat Repairs and maintenance Meeting expenses Travel and subsistence Telephone and internet Stationery, printing and promotion Legal and professional Bank charges and interest Sofvare Directors expenses Sundry expenses Depreciation (Profit)ILoss on disposal of fixtures, fittings and equipment 72,815 10,454 2,474 295,492 17,347 4,401 14,288 2,951 5,382 7,740 2,591 135 3,200 968 13,290 244 769 2,202 655 72,815 10,454 2,474 295,492 17,347 4,401 14,288 2,951 5,382 7,740 2,591 135 3,200 968 13,290 244 769 2,202 655 680 81,632 11,368 2,888 265,534 4,300 11,139 2,535 4,528 6,121 427 98 3,325 3,482 1,680 174 386 2,037 337 851 509 680 680 457,398 458,078 403,351 8 Governance costs Unrestricted funds Restricted funds 2023 2022 Audit and accountancy 2,700 2,700 2,700 2,700 3,000 3,000 13
Job Directions Limited Notes to the Financial Statements for the ear ended 31 March 2023 9 Em lo ee costs 2023 2022 Wages and salaries Wages and salaries - redundancy costs Employer NIC Pension costs 278,752 17.347 16,740 4,401 317,240 252,309 13,225 4,300 269,834 No employee received remuneration in excess of £60,000 (2022 . None). Number of Employees 2023 2022 Finance and administration Training and placements 12 10 Trustees. infonnation Trustees are reimbursed for administration costs incurred in performing their duties. No remuneration is paid to any trustee. 11 Pension costs 2023 2022 Pension charge 4,401 4,401 4,300 4,300 The charity operates a defined contribution pension scheme in respect of the staff who wish to avail of it. This scheme is run by Workers Pension Trust. The assets of the scheme are held separately from those of the charity. 12 Taxatlon The charity is claiming tax exemption to the extent that income andlor gains are applicable and apply to charitable purposes only. 14
Job Directions Llmited Notes to the Financial Statements for the ear ended 31 March 2023 13 Tan ible fixed assets Fixtures, fittings and equipment Website Total Cost At 1 April 2022 At 31 March 2023 50,878 50,878 3,997 3,997 54,875 54,875 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 47,475 681 3,997 51,472 681 48,156 3,997 52,153 Net book value At 31 March 2023 2,722 2,722 At 31 March 2022 3,403 3,403 14 Debtors 2023 2022 Trade debtors Other debtors and prepayments 52,803 6,189 58,992 72,207 4,603 76,810 15 Creditors: amounts fallin due within one ear 2023 2022 Trade creditors other taxes and social security costs Accruals 8,967 5,290 2,400 16,657 22,432 3,547 3,000 28,979 16 Contin ent liabilities There is a contingent liability to repay all grant monies should they not be distributed under the terms of the various initiatives. The trustees do not anticipate any repayment falling due under the terms on which grants were received.
Job Dlrectlons Limited Notes to the Financial Statements for the ear ended 31 March 2023 17 Restricted funds Fixed asset Net assets funds funds Total funds Balance at 1 April 2022 Surplusl(deficit) for year Transfer of funds 46,579 73,137 (83,066) 36,650 46.579 73,137 (83,066} 36,650 Balance at 31 March 2023 Surplus funds which are not restricted at the year end are transferred to unrestricted funds. Net assets fund The net assets fund consists of monies receivable at 31 March 2023 and monies held, but not yet spent, or expenditure provided for, for restricted purposes. The funders of the net assets fund are., Department for Economy funding the 'Seeds' and 'Wee Job, projects and Derry City & Strabane District Council funding the 'Wee Job, project. 18 Unrestricted funds Desi nated funds Cashflow reserve General Fund Total funds Balance at 1 April 2022 Surplusl{deficit) for year Transfer between funds 660,153 5,070 83,066 500,000 1,160,153 5,070 83,066 1,248,289 Balance at 31 March 2023 748,289 500,000 Designated funds have been set aside for the following purposes- Cashflow reserve - to ensure that the charitycan meet its debts as they fall due, in the event that payments by funders are delayed or where costs are met retrospectively. 16
Job Directions Limited Notes to the Financial Statements for the ear ended 31 March 2023 19 Anal sis of net assets between funds Restricted income funds General funds Desi nated funds Total funds Fund balance at 31 March 2023 as represented by.. Tangible fixed assets Current assets Current liabilities 2,722 745,568 1) 748,289 2,722 1,298,874 (16,657) 1,284,939 53,306 (16,656[ 36,650 500,000 Balan at 31 March 2023 500,000 20 Reconciliation of movement in funds to net cash flow from o eratin activities 2023 2022 Net movement in funds 78,207 73,640 Add back depreciation charge Deduct interest income shown in other incoming resources Decrease (increase) in stock Decrease (increase) in debtors Increase (decrease) in creditors 680 (8,532) 1,360 (4,952) 17,818 (12,322) (32,020) 8,926 Net cash used in operating activities 75,851 46,954 21 Related transactions Four directors were reimbursed for administration expenses incurred. This reimbursement of directors totalled £2,202 for the year. There were no other related paty transactions for the year under review. 22 Ultlmate controllin The company is limited by guarantee. There is no ultimate controlling party. 17