IRIS Accounts Production v23.3.1.45 Other Company accounts True false Pounds 1.4.22 31.3.23 31.3.23 FY FRS 102 Independent examiner Large and medium-sized companies regime for accounts Full Charities SORP true true true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2379492022-03-31SC2379492023-03-31SC2379492022-04-012023-03-31SC2379492021-03-31SC2379492021-04-012022-03-31SC2379492022-03-31SC237949ns11:Originalns0:CharitableCompanyLimitedByGuarantee2022-04-012023-03-31SC237949ns11:Original2022-04-012023-03-31SC237949ns15:PoundSterlingns11:Original2022-04-012023-03-31SC237949ns11:Original2022-03-31SC237949ns11:Original2023-03-31SC237949ns11:Originalns11:FRS1022022-04-012023-03-31SC237949ns11:IndependentExaminationCharityns11:Original2022-04-012023-03-31SC237949ns11:Originalns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-04-012023-03-31SC237949ns11:Originalns11:FullAccounts2022-04-012023-03-31SC237949ns11:Originalns11:CharitiesSORP2022-04-012023-03-31SC237949ns11:Originalns16:EnglandWales2022-04-012023-03-31SC237949ns11:Originalns11:RegisteredOffice2022-04-012023-03-31SC237949ns11:Originalns0:Trustee12022-04-012023-03-31SC237949ns11:Originalns0:Trustee32022-04-012023-03-31SC237949ns11:Originalns0:Trustee22022-04-012023-03-31SC237949ns11:Originalns0:Trustee42022-04-012023-03-31SC237949ns11:Originalns0:Trustee52022-04-012023-03-31SC237949ns11:Originalns0:Trustee62022-04-012023-03-31SC237949ns11:Originalns0:TotalUnrestrictedFunds2022-04-012023-03-31SC237949ns11:Originalns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC237949ns11:Original2021-04-012022-03-31SC237949ns11:Originalns0:Activity82022-04-012023-03-31SC237949ns11:Originalns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC237949ns11:Originalns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC237949ns11:Originalns0:Activity82021-04-012022-03-31SC237949ns11:Originalns0:TotalUnrestrictedFunds2022-03-31SC237949ns11:Originalns0:TotalRestrictedIncomeFunds2022-03-31SC237949ns11:Original2021-03-31SC237949ns11:Originalns0:TotalUnrestrictedFunds2023-03-31SC237949ns11:Originalns0:TotalRestrictedIncomeFunds2023-03-31SC237949ns11:Original2022-03-31SC237949ns11:Originalns0:TotalUnrestrictedFundsns10:WithinOneYear2023-03-31SC237949ns11:Originalns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-03-31SC237949ns11:Originalns10:WithinOneYear2023-03-31SC237949ns11:Originalns10:WithinOneYear2022-03-31SC237949ns11:Original12022-04-012023-03-31SC237949ns11:Originalns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-04-012023-03-31SC237949ns10:FurnitureFittingsToolsEquipmentns11:Original2022-04-012023-03-31SC237949ns11:Originalns10:ComputerEquipment2022-04-012023-03-31SC237949ns11:Original22022-04-012023-03-31SC237949ns11:Original32022-04-012023-03-31SC237949ns11:Originalns10:OwnedAssets2022-04-012023-03-31SC237949ns11:Originalns10:OwnedAssets2021-04-012022-03-31SC237949ns11:Originalns0:Activity8ns0:TotalUnrestrictedFunds2021-04-012022-03-31SC237949ns11:Originalns0:Activity8ns0:TotalRestrictedIncomeFunds2021-04-012022-03-31SC237949ns11:Originalns0:TotalUnrestrictedFunds2021-04-012022-03-31SC237949ns11:Originalns0:TotalRestrictedIncomeFunds2021-04-012022-03-31SC237949ns11:Originalns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-03-31SC237949ns11:Originalns10:FurnitureFittings2022-03-31SC237949ns11:Originalns10:ComputerEquipment2022-03-31SC237949ns11:Originalns10:FurnitureFittings2022-04-012023-03-31SC237949ns11:Originalns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-31SC237949ns11:Originalns10:FurnitureFittings2023-03-31SC237949ns11:Originalns10:ComputerEquipment2023-03-31SC237949ns11:Originalns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-03-31SC237949ns11:Originalns10:FurnitureFittings2022-03-31SC237949ns11:Originalns10:ComputerEquipment2022-03-31
REGISTERED COMPANY NUMBER: SC237949 (Scotland)
REGISTERED CHARITY NUMBER: SC033685













REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ILEACH LIMITED

ILEACH LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2023




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 14

ILEACH LIMITED (REGISTERED NUMBER: SC237949)

REPORT OF THE TRUSTEES
for the year ended 31 MARCH 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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
Objectives and aims
The charity's objects as set out in its memorandum and articles of association are:
(1) To advance education by the provision of training, especially ICT skills, and other services and to relieve poverty;
(2) To advise and assist individuals in obtaining employment, developing career opportunities, pursuing additional training and starting their own business;
(3) To provide for the community, information technology related to the services which are normally available;
(4) To encourage the voluntary sector to use the new technology to enhance their own prospect of promotion, marketing and funding;
(5) To promote, establish and operate other schemes of a charitable nature for the benefit of the community within the operating area;
(6) To promote economic and social development for the benefit of the general public;
(7) To publish and market the 'Ileach newspaper' and other publications;
(8) To provide printing, publishing and other services locally and at reasonable cost for community organisations and local businesses.

Significant activities
With the far-reaching impacts of the Coronavirus pandemic finally beginning to ease, the trustees were pleased to be able to broaden the scope of the charity's activities rather than having to focus solely on its core function; viz. publication of "The Ileach" newspaper, on its regular, fortnightly schedule. Notably, the Charity was able to collaborate with Islay High School on the provision of a course on journalism.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity has:
- to advance education through work with Islay High School
- worked hard to ensure that "The Ileach" newspaper remained a major source of information for local people.
- to provide printing, copying, publishing, passport photographs at a reasonable cost to the local community.

FINANCIAL REVIEW
Financial position
Over the past number of years, the trustees have focussed on opportunities to grow the income received from advertising; the principal source of revenue for the charity being advertising from local businesses. This had been identified as a significant milestone on the way to making the charity's financial position more robust.

The trustees are, therefore, pleased to report that, for the second year in a row, income from advertising has increased; from £33,861 in 2021, to £48,694 in 2022 and now to £50,590 in 2023.

That said, the trustees will continue to evaluate the opportunities to increase revenue and reduce costs; in particular, as a result of unforeseen levels of inflation.

Principal funding sources
The principal funding source of the charity is from the surpluses generated from sales of "The Ileach," advertising revenue, subscriptions, shop and other sales, and grant income.

The capital grant from the Co-op Local Community Fund was used to purchase new printing equipment. This now allows colour editions of The Ileach to be produced at a cost which is not prohibitive. Moreover, this equipment will be significantly more cost effective over its working life.


ILEACH LIMITED (REGISTERED NUMBER: SC237949)

REPORT OF THE TRUSTEES
for the year ended 31 MARCH 2023


FINANCIAL REVIEW
Reserves policy
The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. In doing so they considered the reason why the company needs restricted and unrestricted funds, the level of these reserves required and the steps to be taken in order to establish and maintain reserves at the required level.

The target set by the trustees is to build up reserves equivalent to three months running costs. At the date of the balance sheet, there are total funds of £55,299, of which £55,299 are unrestricted, which suggests the reserves target has been met.

Going concern
The trustees are confident that the charity is on a sound financial footing and will be able to continue to operate for at least the next 12 months; from the date of signing the accounts.

The charity therefore continues to adopt the going concern basis in preparing its financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ileach Limited is a charitable company limited by guarantee, incorporated on 10th October 2002. The charity was established under a memorandum of association, which establishes the objects and powers of the company and is governed under its articles of association.

In the event of the company being wound up members may be required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees
Any member who wishes to be considered for election as a trustee at an annual general meeting must lodge with the company a written notice confirming that they are willing to be appointed. The notice must be signed by them and lodged with the company at least seven days before the date of the annual general meeting.

At the Annual General Meeting, trustees appointed since the last AGM have to retire from office, but can be considered for re-election if they so wish. Of the remaining Trustees, the three that have been longest in office have to retire from office, but can be considered for re-election if they so wish.

Related parties
The company is a stand-alone charity.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC237949 (Scotland)

Registered Charity number
SC033685

Registered office
Ileach Office
Main Street
Bowmore
Isle of Islay
PA43 7JH

Trustees
Garry Robert MacLean Company Secretary
Robert Calum McEachern (resigned 10.5.22)
Islay William McEachern Chair
James McNeil Porteous
Hannah Jane Thaxter
Lynn Morag Hunter (appointed 10.5.22)

ILEACH LIMITED (REGISTERED NUMBER: SC237949)

REPORT OF THE TRUSTEES
for the year ended 31 MARCH 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 18 December 2023 and signed on its behalf by:





Islay William McEachern - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ILEACH LIMITED

I report on the accounts for the year ended 31 March 2023 set out on pages five to fourteen.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Martin Greig BA
The Institute of Chartered Accountants of Scotland

Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

22 December 2023

ILEACH LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 MARCH 2023

2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 155 - 155 -

Charitable activities
General activities 36,642 - 36,642 64,445

Other trading activities 2 80,967 - 80,967 77,166
Total 117,764 - 117,764 141,611

EXPENDITURE ON
Raising funds 26,867 - 26,867 20,405

Charitable activities
General activities 104,603 - 104,603 100,370
Total 131,470 - 131,470 120,775

NET INCOME/(EXPENDITURE) (13,706 ) - (13,706 ) 20,836
Transfers between funds 11 10,045 (10,045 ) - -
Net movement in funds (3,661 ) (10,045 ) (13,706 ) 20,836

RECONCILIATION OF FUNDS
Total funds brought forward 58,960 10,045 69,005 48,169

TOTAL FUNDS CARRIED FORWARD 55,299 - 55,299 69,005

ILEACH LIMITED (REGISTERED NUMBER: SC237949)

BALANCE SHEET
31 MARCH 2023

2023 2022
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 20,050 - 20,050 7,015

CURRENT ASSETS
Stocks 8 8,942 - 8,942 10,311
Debtors 9 12,226 - 12,226 11,040
Cash at bank and in hand 24,444 - 24,444 45,983
45,612 - 45,612 67,334

CREDITORS
Amounts falling due within one year 10 (10,363 ) - (10,363 ) (5,344 )

NET CURRENT ASSETS 35,249 - 35,249 61,990

TOTAL ASSETS LESS CURRENT
LIABILITIES

55,299

-

55,299

69,005

NET ASSETS 55,299 - 55,299 69,005
FUNDS 11
Unrestricted funds 55,299 58,960
Restricted funds - 10,045
TOTAL FUNDS 55,299 69,005

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.


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.


ILEACH LIMITED (REGISTERED NUMBER: SC237949)

BALANCE SHEET - continued
31 MARCH 2023

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 18 December 2023 and were signed on its behalf by:





Garry Robert MacLean - Trustee





Islay William McEachern - Trustee

ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Going concern
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the trustees are required to make judgements, estimates and assumptions that affect the application of the Charity's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates included in these accounts

Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Income includes funds generated from the sale of goods, services provided and subscriptions.

Sale of Goods
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing management involvement with the goods, and the amount of revenue can be measured reliably.

Services
Income from services is recognised when performed, such that risks and rewards have been transferred.

Government grants - COVID
COVID related local authority grant funding is recognised on receipt, whereas grant funding received in relation to the Job Retention Scheme is recognised in the period in which the associated wages are paid.

Grants
Grants are recognised when the charity has been notified in writing of both the amount and settlement date. Grants are deferred if terms or conditions must be met before the charity has entitlement to the resources.


ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - not provided
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost and 10% on cost

Property is not being depreciated as the trustees are of the opinion that the market value is greater than the carrying value in the accounts.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

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.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprises cash balances.

Creditors
Short term trade creditors are measured at the transaction price.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as a finance cost.

ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

2. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Advertising sales 50,590 48,694
Shop sales 30,377 28,472
80,967 77,166

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 1,465 34

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.


5. STAFF COSTS

The average monthly number of employees during the year was as follows:

2023 2022
Staff 5 5

No employees received emoluments in excess of £60,000.

The charity considers its key management personnel comprises the Printer and Office Manager, Receptionist and Bookkeeper. The total employment benefits including employer pension contributions of the key management personnel were £43,849 (2022: £41,183).

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
General activities 64,445 - 64,445

Other trading activities 77,166 - 77,166
Total 141,611 - 141,611

EXPENDITURE ON
Raising funds 20,405 - 20,405

ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
£    £    £   

Charitable activities
General activities 100,370 - 100,370
Total 120,775 - 120,775

NET INCOME 20,836 - 20,836


RECONCILIATION OF FUNDS
Total funds brought forward 38,124 10,045 48,169

TOTAL FUNDS CARRIED FORWARD 58,960 10,045 69,005

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 7,000 7,111 29,151 43,262
Additions - - 14,500 14,500
At 31 March 2023 7,000 7,111 43,651 57,762
DEPRECIATION
At 1 April 2022 - 7,096 29,151 36,247
Charge for year - 15 1,450 1,465
At 31 March 2023 - 7,111 30,601 37,712
NET BOOK VALUE
At 31 March 2023 7,000 - 13,050 20,050
At 31 March 2022 7,000 15 - 7,015


ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

8. STOCKS
2023 2022
£    £   
Stocks 8,942 10,311

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,971 10,423
VAT 638 -
Prepayments 617 617
12,226 11,040

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,493 2,683
Social security and other taxes 232 -
VAT - 1,283
Accrued expenses 6,638 1,378
10,363 5,344

11. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 58,960 (12,256 ) (4,455 ) 42,249
Fixed assets - (1,450 ) 14,500 13,050
58,960 (13,706 ) 10,045 55,299
Restricted funds
Co-op Community Fund 10,045 - (10,045 ) -

TOTAL FUNDS 69,005 (13,706 ) - 55,299

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 117,764 (130,020 ) (12,256 )
Fixed assets - (1,450 ) (1,450 )
117,764 (131,470 ) (13,706 )
TOTAL FUNDS 117,764 (131,470 ) (13,706 )


ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.21 in funds 31.3.22
£    £    £   
Unrestricted funds
General fund 38,124 20,836 58,960

Restricted funds
Co-op Community Fund 10,045 - 10,045

TOTAL FUNDS 48,169 20,836 69,005

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 141,611 (120,775 ) 20,836

TOTAL FUNDS 141,611 (120,775 ) 20,836

PURPOSE OF FUNDS

General

The General Fund includes all income generated by the charity, which can be used in any way to further the objectives and aims of the charity.

Fixed assets

This represents any assets that have been capitalised and highlights that these funds are not available for distribution, the balance represents the NBV of the assets.

Restricted

The Co-op Community Fund - for the replacement of printing equipment.

Transfers between funds

The Co-op Community Fund grant has now been used to purchase printing equipment, the remaining balance was met by the General fund. the total value of the equipment has now been transferred to a designated fixed assets fund.


ILEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.