Core Issues Trust ## Statement of Financial Activities ## (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2023 |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations including Gift Aid
152,867
Other trading activities
2
28,646
Investment income
3
82
**Total**
181,595
**EXPENDITURE ON**
**Cost of generating voluntary income**
Cost of generating voluntary income
-
Other trading activities
89,337
89,337
**Charitable activities**
charitiable expense
2,000
Management & Governance expenses
-
Support costs
98,979
**Total**
190,316
**NET INCOME/(EXPENDITURE)**
(8,721)
**RECONCILIATION OF FUNDS**
Total funds brought forward
32,713
**TOTAL FUNDS CARRIED FORWARD**
23,992|Restricted
2023
Total
2022
Total
fund
funds
funds
£
£
£
-
152,867
162,704
-
28,646
98,353
-
82
35
-
181,595
261,092
-
-
718
-
89,337
170,211
-
89,337
170,929
-
2,000
2,065
-
-
3,040
-
98,979
77,265
-
190,316
253,299
-
(8,721)
7,793
-
32,713
24,920
-
23,992
32,713| |---|---| The notes form part of these financial statements Page 6 Core Issues Trust ## Balance Sheet 31 December 2023 |Unrestricted
Restricted
fund
fund
Notes
£
£
**FIXED ASSETS**
Intangible assets
9
6,400
-
Tangible assets
10
12,159
-
18,559
-
**CURRENT ASSETS**
Debtors
11
8,155
-
Cash at bank
1,730
-
9,885
-
**CREDITORS**
Amounts falling due within one year
12
(2,575)
-
**NET CURRENT ASSETS**
7,310
-
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
25,869
-
**CREDITORS**
Amounts falling due after more than one
year
13
(1,877)
-
**NET ASSETS**
23,992
-
**FUNDS**
Unrestricted funds:
General fund
15
**TOTAL FUNDS**|2023
Total
funds
£
6,400
12,159
18,559
8,155
1,730
9,885
(2,575)
7,310
25,869
(1,877)
23,992
23,992
23,992|2022
Total
funds
£
-
12,159
12,159
11,417
17,350
28,767
(6,910)
21,857
34,016
(1,303)
32,713
32,713
32,713| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements continued... Page 7 Core Issues Trust ## Balance Sheet - continued 31 December 2023 The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 23 August 2024 and were signed on its behalf by: Mike Davidson (Aug 23, 2024 12:31 GMT+1) M R Davidson - Trustee ## _Simon Wyatt_ Simon Wyatt (Aug 23, 2024 12:44 GMT+1) SAG Wyatt - Trustee The notes form part of these financial statements Page 8 Core Issues Trust Notes to the Financial Statements for the Year Ended 31 December 2023 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 20% on reducing balance ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 9 Core Issues Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ## **2. OTHER TRADING ACTIVITIES** |**2.**|**OTHER TRADING ACTIVITIES**|||| |---|---|---|---|---| ||||2023|2022| ||||£|£| ||Conference & events||24,913|89,968| ||Sale of merchandise CIT||3,733|8,385| ||||28,646|98,353| |**3.**|**INVESTMENT INCOME**|||| ||||2023|2022| ||||£|£| ||Deposit account interest||82|35| |**4.**|**SUPPORT COSTS**|||| |||||Information| |||Management|Finance|technology| |||£|£|£| ||Support costs|89,614|2,216|688| ||||Governance|| |||Other|costs|Totals| |||£|£|£| ||Support costs|100|6,361|98,979| ||Support costs, included in the above, are as follows:|||| ||||2023|2022| ||||Support|Total| ||||costs|activities| ||||£|£| ||Consultancy||80,401|42,850| ||Insurance||335|193| ||Telephone||1,296|5,523| ||Post, stationary & office||6,876|8,264| ||General expenses||706|838| ||Depreciation of tangible and heritage|||| ||assets||-|3,040| ||Bank charges||2,216|-| ||Repairs and renewals||688|-| ||Interest payable and sim chs||100|-| ||Accountancy||1,608|14,420| ||Legal, prof and consultancy||4,753|5,177| ||||98,979|80,305| Page 10 continued... Core Issues Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ## **2. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||2023|2022| |---|---|---| ||£|£| |Accountancy|1,608|14,420| |Depreciation - owned assets|-|3,040| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** One Trustee serving as CEO has received a monthly payment since 2015 of £400 for professional services. Where any personal expenses were paid by the Trust any subsequent reimbursements made, the accounts reflect this. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **5.** |2023
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
Restricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations including Gift Aid
162,704
-
Other trading activities
98,353
-
Investment income
35
-
**Total**
261,092
-
**EXPENDITURE ON**
**Cost of generating voluntary income**
Cost of generating voluntary income
718
-
Other trading activities
170,211
-
170,929
-|2022
Total
funds
£
162,704
98,353
35
261,092
718
170,211
170,929| |---|---| Page 11 continued... Core Issues Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 |**8.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**| |---|---|---|---|---| |||Unrestricted|Restricted|Total| |||fund|fund|funds| |||£|£|£| ||**Charitable activities**|||| ||charitiable expense|2,065|-|2,065| ||Management & Governance expenses|||| |||3,040|-|3,040| ||Support costs|77,265|-|77,265| ||**Total**|253,299|-|253,299| ||**NET INCOME**|7,793|-|7,793| ||**RECONCILIATION OF FUNDS**|||| ||Total funds brought forward|24,920|-|24,920| ||**TOTAL FUNDS CARRIED**|||| ||**FORWARD**|32,713|-|32,713| |**9.**|**INTANGIBLE FIXED ASSETS**|||| |||||Computer| |||||software| |||||£| ||**COST**|||| ||Additions|||6,400| ||**NET BOOK VALUE**|||| ||At 31 December 2023|||6,400| ||At 31 December 2022|||-| Page 12 continued... Core Issues Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ## **10. TANGIBLE FIXED ASSETS** |**COST**
At 1 January 2023 and
31 December 2023
**DEPRECIATION**
At 1 January 2023 and
31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 14)
IFTCC
Accruals and deferred income||Computer
equipment
£
25,074
12,915
12,159
12,159
2023
2022
£
8,155
£
11,417
2023
2022
£
£
800
2,173
169
884
1,606
3,853
2,575
6,910| |---|---|---| |||| Page 13 continued... Core Issues Trust ## Notes to the Financial Statements - continued for the Year Ended 31 December 2023 |**13.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**|**ONE YEAR**|| |---|---|---|---|---| ||||2023|2022| ||||£|£| ||Bank loans (see note 14)||1,877|1,303| |**14.**|**LOANS**|||| ||An analysis of the maturity of loans is given below:|||| ||||2023|2022| ||||£|£| ||Amounts falling due within one year on demand:|||| ||Bank loans||800|2,173| ||Amounts falling between one and two years:|||| ||Bank loans - 1-2 years||1,877|1,303| |**15.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1/1/23|in funds|31/12/23| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|32,713|(8,721)|23,992| ||**TOTAL FUNDS**|32,713|(8,721)|23,992| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|181,595|(190,316)|(8,721)| ||**TOTAL FUNDS**|181,595|(190,316)|(8,721)| Page 14 continued... Core Issues Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ## **15. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 1/1/22
£
**Unrestricted funds**
General fund
24,920
**TOTAL FUNDS**
24,920
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
261,092
**TOTAL FUNDS**
261,092|Net
movement
At
in funds
31/12/22
£
£
7,793
32,713
7,793
32,713
Resources
expended
£
Movement
in funds
£
(253,299)
7,793
(253,299)
7,793| |---|---| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1/1/22|in funds|31/12/23| ||£|£|£| |**Unrestricted funds**|||| |General fund|24,920|(928)|23,992| |**TOTAL FUNDS**|24,920|(928)|23,992| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
442,687
442,687|Resources
expended
£
Movement
in funds
£
(443,615)
(928)
(443,615)
(928)| |---|---|---| Page 15 continued... Core Issues Trust Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ## **16. RELATED PARTY DISCLOSURES** During the financial year the tranactions with related parties the balance owing to the Charity was £11,417. Page 16 Core Issues Trust Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |**INCOME AND ENDOWMENTS**
**Donations including Gift Aid**
CIT Donations
Gift aid
IFTCC Donations
**Other trading activities**
Conference & events
Sale of merchandise CIT
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Cost of generating voluntary income**
Bank interest
**Other trading activities**
Film, Production & Events
Travel & subsistence
Conference, events & speakers
Computer, Web & Social Media
**Charitable activities**
Grants to IFTCC
Donations
**Support costs**
**Management**
Consultancy
Insurance
Carried forward|2023
£
145,463
7,404
-
152,867
24,913
3,733
28,646
82
181,595
-
3,160
6,426
62,932
16,819
89,337
2,000
-
2,000
80,401
335
80,736|2022
£
155,584
7,082
38| |---|---|---| |||162,704
89,968
8,385| |||98,353
35| |||261,092
718
7,605
5,060
139,090
18,456| |||170,211
2,015
50| |||2,065
42,850
193
43,043| This page does not form part of the statutory financial statements Page 17 Core Issues Trust ## Detailed Statement of Financial Activities ## for the Year Ended 31 December 2023 |**Management**
Brought forward
Telephone
Post, stationary & office
General expenses
Computer equipment
**Finance**
Bank charges
**Information technology**
Repairs and renewals
**Other**
Bank loan interest
**Governance costs**
Accountancy
Legal, prof and consultancy
Total resources expended
**Net (expenditure)/income**|2023
£
2022
£
80,736
43,043
1,296
5,523
6,876
8,264
706
838
-
3,040
89,614
60,708
2,216
-
688
-
100
-
1,608
14,420
4,753
5,177
6,361
19,597
190,316
253,299
(8,721)
7,793| |---|---| This page does not form part of the statutory financial statements Page 18