Friends of Bnei Akiva (Bachad) Charity Accounts
Friends of Bnei Akiva (Bachad) Charity Accounts
COMPANY REGISTRATION NUMBER:
05373032
CHARITY REGISTRATION NUMBER:
1109706
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Company Limited by Guarantee |
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Company Limited by Guarantee |
Financial Statements |
Year ended 30 September 2023
Page |
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Trustees' annual report (incorporating the director's report) |
1 |
Independent examiner's report to the trustees |
4 |
Statement of financial activities (including income and expenditure account) |
5 |
Statement of financial position |
6 |
Statement of cash flows |
8 |
Notes to the financial statements |
9 |
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Company Limited by Guarantee |
Trustees' Annual Report (Incorporating the Director's Report) |
Year ended 30 September 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended
30 September 2023
.
Reference and administrative details
Registered charity name |
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Charity registration number |
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Company registration number |
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Principal office and registered |
2 Hallswelle Road |
office |
London |
NW11 ODJ |
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The trustees
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Independent examiner |
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Hallswelle House |
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1 Hallswelle Road |
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London |
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England |
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NW11 0DH |
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Structure, governance and management
GOVERNING DOCUMENT
APPOINTMENT OF TRUSTEES
The directors of the company are also charity trustees for the purposes of charity law. The charitable company is managed by a board of trustees which is responsible for setting the strategic direction of the organisation and for establishing policy. The trustees are appointed by the board on the recommendation of other members of the board.
TRUSTEE INDUCTION AND TRAINING
All longstanding trustees are already familiar with the practical work of the charity and new trustees are encouraged to attend board meetings to familiarise themselves with the charity and the context within which it operates.
ORGANISATION STRUCTURE
As mentioned above, the charity is managed by a board of trustees.
The trustees meet on a regular basis to deal with special business. The Charity works closely, in a spirit of friendship and co-operation with Bnei Akiva. Its members are made up of parents, former members and well-wishers. They support the work with fund-raising and collecting donations for capital projects, as well as supporting Bnei Akiva with funds for its educational work.
RELATED PARTIES
The charity has a close relationship with Bnei Akiva for whom it supplies financial and other support. Bnei Akiva is the world's largest religious Zionist youth organisation, active all over the world, with over 50,000 members.
RISK MANAGEMENT
The trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, and visitors to the youth centres. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. The charity manages its financial risk by setting a reserves policy which is regularly reviewed by trustees.
Objectives and activities
The principal objectives of the charity throughout the year have been to foster and promote education (including education in the Jewish Religion) for Jewish youth in The United Kingdom and in Israel. These objectives are achieved by providing support, financial and otherwise, to Bnei Akiva.
The charity also provides grants for needy individuals children towards the cost of various Bnei Akiva camps, Israel trips, and other events.
The charity has youth centres in Manchester and London for the purposes of achieving these objectives.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The main areas of charitable activities are the provision and maintenance of the youth centres in London and Salford, organising events and providing grants to Bnei Akiva.
Financial review
During the year, the charity's funds have been applied in furtherance of its objectives and the day to day running of the charity.
In the year to 30 September 2023, incoming resources amounted to £203,594 (2022: £542,477) and resources expended amounted to £385,944 (2022: £430,399).
At 30 September 2023, the charity had a total unrestricted fund balance of £1,053,987 (2022: £1,236,337).
There have been no changes in the accounting policies of the charity during the year.
The charity will continue to depend on donors and past and present members who have supported our activities.
The trustees would like to express our gratitude to our donors, members, and volunteers who have generously given of their time and effort and have contributed towards the charity's activities and objectives.
RESERVE POLICY
The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and have concluded that the general reserves amounting to £1,053,987 (2022: £1,236,337) are necessary to maintain the day to day running of the charity and to achieve its objectives.
PUBLIC BENEFIT
The trustees have considered the guidance published by the Charity Commission and believe that the charity in carrying out its objectives, fully complies with these requirements. In particular the work with fund-raising and collecting donations for capital projects, and supporting Bnei Akiva with funds for its educational work and supporting jewish youth through traditional religious education and social activities automatically gives rise to a public benefit. Each year the trustees review the objectives and activities of the charity to ensure that they continue to reflect these aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Plans for future periods
The charity plans to continue the activities as outlined above.
The trustees' annual report and the strategic report were approved on
20 May 2024
and signed on behalf of the board of trustees by:
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Trustee |
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Company Limited by Guarantee |
Independent Examiner's Report to the Trustees of
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Year ended 30 September 2023
I report to the trustees on my examination of the financial statements of
Friends of Bnei Akiva (Bachad)
('the charity') for the year ended 30 September 2023.
Responsibilities and basis of report
As the trustees of the 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 accounts of the 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 charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1.
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2.
the 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 accounts to be reached.
Hallswelle House
1 Hallswelle Road
London
England
NW11 0DH
20 May 2024
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Company Limited by Guarantee |
Statement of Financial Activities |
(including income and expenditure account) |
Year ended 30 September 2023
2023 |
2022 |
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Unrestricted funds |
Total funds |
Total funds |
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Note |
£ |
£ |
£ |
Income and endowments
Donations and legacies |
5 |
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Other income |
6 |
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--------- |
--------- |
--------- |
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Total income |
|
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--------- |
--------- |
--------- |
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Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies |
7 |
24,796 |
24,796 |
16,505 |
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Expenditure on charitable activities |
8 |
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--------- |
--------- |
--------- |
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Total expenditure |
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--------- |
--------- |
--------- |
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--------- |
--------- |
--------- |
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Net (expenditure)/income and net movement in funds |
(
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(
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--------- |
--------- |
--------- |
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Reconciliation of funds
Total funds brought forward |
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------------ |
------------ |
------------ |
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Total funds carried forward |
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------------ |
------------ |
------------ |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Company Limited by Guarantee |
Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Fixed assets
Tangible fixed assets |
13 |
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Current assets
Debtors |
14 |
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Cash at bank and in hand |
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-------- |
--------- |
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Creditors: amounts falling due within one year |
15 |
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--------- |
--------- |
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Net current liabilities |
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------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
16 |
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------------ |
------------ |
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Net assets |
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------------ |
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Funds of the charity
Unrestricted funds:
Revaluation reserve |
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Other unrestricted income funds |
1,053,987 |
1,236,337 |
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Total unrestricted funds |
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------------ |
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Total charity funds |
17 |
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Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Company Limited by Guarantee |
Statement of Financial Position (continued) |
These financial statements were approved by the
board of trustees
and authorised for issue on
20 May 2024
, and are signed on behalf of the board by:
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Trustee |
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Company Limited by Guarantee |
Statement of Cash Flows |
Year ended 30 September 2023
2023 |
2022 |
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£ |
£ |
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Cash flows from operating activities
Net (expenditure)/income |
(182,350) |
112,078 |
Adjustments for: |
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Depreciation of tangible fixed assets |
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Changes in: |
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Trade and other debtors |
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(
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Trade and other creditors |
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(
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--------- |
--------- |
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Cash generated from operations |
(
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-------- |
-------- |
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Net cash (used in)/from operating activities |
(
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-------- |
-------- |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
64,042 |
31,423 |
-------- |
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Cash and cash equivalents at end of year |
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-------- |
-------- |
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Company Limited by Guarantee |
Notes to the Financial Statements |
Year ended 30 September 2023
1.
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2 Hallswelle Road, London, NW11 ODJ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Judgements and key sources of estimation uncertainty
Fund accounting
Incoming resources
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of fundraising activities carried out by the charity. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of the resources.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings & equipment |
- |
20
% reducing balance |
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Religious artefacts |
- |
2
% straight line |
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Financial instruments
4.
Limited by guarantee
5.
Donations and legacies
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
||
Donations
Donations and covenants |
174,904 |
174,904 |
485,181 |
485,181 |
|
Other rental and hall hire |
6,782 |
6,782 |
4,333 |
4,333 |
|
Events and appeals |
933 |
933 |
4,843 |
4,843 |
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Building donation |
– |
– |
26,400 |
26,400 |
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--------- |
--------- |
--------- |
--------- |
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--------- |
--------- |
--------- |
--------- |
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6.
Other income
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
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Rents received |
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-------- |
-------- |
-------- |
-------- |
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7.
Costs of raising donations and legacies
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
||
Costs of raising donations and legacies - Donations |
24,796 |
24,796 |
16,505 |
16,505 |
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-------- |
-------- |
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8.
Expenditure on charitable activities by fund type
Unrestricted Funds |
Total Funds 2023 |
Unrestricted Funds |
Total Funds 2022 |
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£ |
£ |
£ |
£ |
||
Grants paid |
245,219 |
245,219 |
287,810 |
287,810 |
|
Support costs |
115,929 |
115,929 |
126,084 |
126,084 |
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--------- |
--------- |
--------- |
--------- |
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--------- |
--------- |
--------- |
--------- |
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9.
Analysis of support costs
Analysis of Support costs |
Total 2023 |
Total 2022 |
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£ |
£ |
£ |
||
Premises |
90,817 |
90,817 |
99,801 |
|
General office |
20,126 |
20,126 |
21,024 |
|
Governance costs |
4,986 |
4,986 |
5,259 |
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--------- |
--------- |
--------- |
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115,929 |
115,929 |
126,084 |
||
--------- |
--------- |
--------- |
||
10.
Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2023 |
2022 |
|
£ |
£ |
|
Depreciation of tangible fixed assets |
1,319 |
1,405 |
------- |
------- |
|
11.
Independent examination fees
2023 |
2022 |
|
£ |
£ |
|
Fees payable to the independent examiner for:
Independent examination of the financial statements |
3,360 |
3,360 |
------- |
------- |
|
12.
Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13.
Tangible fixed assets
Land and buildings |
Equipment |
Torah scrolls |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 October 2022 and 30 September 2023 |
|
29,047 |
48,665 |
|
------------ |
-------- |
-------- |
------------ |
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Depreciation |
||||
At 1 October 2022 |
– |
27,317 |
8,407 |
|
Charge for the year |
– |
346 |
973 |
|
------------ |
-------- |
-------- |
------------ |
|
At 30 September 2023 |
– |
27,663 |
9,380 |
|
------------ |
-------- |
-------- |
------------ |
|
Carrying amount |
||||
At 30 September 2023 |
|
1,384 |
39,285 |
|
------------ |
-------- |
-------- |
------------ |
|
At 30 September 2022 |
|
1,730 |
40,258 |
|
------------ |
-------- |
-------- |
------------ |
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14.
Debtors
2023 |
2022 |
|
£ |
£ |
|
Trade debtors |
|
|
Tax on gift aid |
12,130 |
22,213 |
Other debtors |
– |
|
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
15.
Creditors:
amounts falling due within one year
2023 |
2022 |
|
£ |
£ |
|
Accruals and deferred income |
|
|
Other creditors |
|
|
--------- |
--------- |
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|
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--------- |
--------- |
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16.
Creditors:
amounts falling due after more than one year
2023 |
2022 |
|
£ |
£ |
|
Other creditors |
|
|
--------- |
--------- |
|
17.
Analysis of charitable funds
Unrestricted funds
At 1 October 2022 |
Income |
Expenditure |
At 30 September 2023 |
|
£ |
£ |
£ |
£ |
|
Unrestricted Fund - General Fund |
1,236,337 |
203,594 |
(385,944) |
1,053,987 |
Revaluation reserve |
1,081,488 |
– |
– |
1,081,488 |
------------ |
--------- |
--------- |
------------ |
|
2,317,825 |
203,594 |
(385,944) |
2,135,475 |
|
------------ |
--------- |
--------- |
------------ |
|
At 1 October 2021 |
Income |
Expenditure |
At 30 September 2022 |
|
£ |
£ |
£ |
£ |
|
Unrestricted Fund - General Fund |
1,124,259 |
542,477 |
(430,399) |
1,236,337 |
Revaluation reserve |
1,081,488 |
– |
– |
1,081,488 |
------------ |
--------- |
--------- |
------------ |
|
2,205,747 |
542,477 |
(430,399) |
2,317,825 |
|
------------ |
--------- |
--------- |
------------ |
|
18.
Analysis of net assets between funds
Unrestricted Funds |
Total Funds 2023 |
||
£ |
£ |
||
Tangible fixed assets |
2,740,669 |
2,740,669 |
|
Current assets |
61,240 |
61,240 |
|
Creditors less than 1 year |
(196,369) |
(196,369) |
|
Creditors greater than 1 year |
(470,065) |
(470,065) |
|
------------ |
------------ |
||
Net assets |
2,135,475 |
2,135,475 |
|
------------ |
------------ |
||
Unrestricted Funds |
Total Funds 2022 |
||
£ |
£ |
||
Tangible fixed assets |
2,741,988 |
2,741,988 |
|
Current assets |
142,681 |
142,681 |
|
Creditors less than 1 year |
(196,779) |
(196,779) |
|
Creditors greater than 1 year |
(370,065) |
(370,065) |
|
------------ |
------------ |
||
Net assets |
2,317,825 |
2,317,825 |
|
------------ |
------------ |
||
19.
Analysis of changes in net debt
At 1 Oct 2022 |
Cash flows |
At 30 Sep 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(21,560) |
|
-------- |
-------- |
-------- |
|