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REGISTERED COMPANY NUMBER: 02069698 (England and Wales)
REGISTERED CHARITY NUMBER: 1002825







Report of the Trustees and

Financial Statements for the Year Ended 31st March 2024

for

Angel Centre (Worcester)

Angel Centre (Worcester)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6

Notes to the Financial Statements 7 to 12

Angel Centre (Worcester) (Registered number: 02069698)

Report of the Trustees
for the Year Ended 31st March 2024


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 31st March 2024. 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
To promote the more effective working of charitable and community based organisations by providing them with office and recreational accommodation and resources through the effective management of the premises known as "The Angel Centre".

Public benefit
The Trustees confirm that they have had due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake.

Through the provision of affordable office and recreational space the benefit to the public is of paramount importance and in normal times, it is estimated that on average up to 200 clients per week, representing all age and ability groups, benefit from the various activities taking place at the Centre, ranging from "one to one" counselling sessions offering advice and support on personal issues, bereavement, pregnancy and financial advice to church services and leisure activities.

ACHIEVEMENT AND PERFORMANCE
Charitable Activities
To meet its objectives the Centre made 19 rooms and resources available to 12 locally based charities or community based organisations on a permanent basis enabling them to administer their charities and provide private and secure counselling and classrooms to their clients in return for an affordable membership fee. In addition a meeting room suitable for larger groups is available on an "ad hoc" basis and is frequently used by our own "Users" and other charities and community based organisations for meetings and courses in return for a nominal fee.

FINANCIAL REVIEW
Financial position
Incoming resources have increased by £1,786 (2024 £39,353 - 2023 £37,567) as a result of an increase in bank interest income and higher electricity recharged to Users. Members Fees for office usage have decreased by £3,417 because three offices were vacant for much of the year. Expenditure has risen by £4,359 (2024 £35,227 - 2023 £30,862) mainly due to higher electricity charges (offset by increased income from Users, noted above,) and an increase in repairs and renewals to the building of £1,141.

The net effect of the above is that a surplus of £4,132 has arisen compared to a surplus of £6,705 in 2023. This surplus has increased the charities overall reserves from £65,250 to £69,382.

Free reserves are detailed in the reserves policy below, alongside further detail on the designated funds.

Principal funding sources
Our principal source of funding is from members fees paid in respect of office accommodation. Additional income is generated from the use of "Centre Space" outside of normal office hours for various activities, including dance classes, drum workshops, choir practice, theatre workshops, music and Church services on 2 Sundays per month.

Reserves policy
Our aim is to maintain reserves at a figure equivalent to approximately 18 months income from members fees to cover temporary periods when accommodation may not be fully utilised to ensure that the costs of repairs and maintenance and running costs can be met.The Charity is currently meeting this target.

The Trustees have established the Charity's reserves policy with reference to the "Charity Commission's guidance CC19)". Cash flow is monitored by Trustees on a continuing basis.

Free reserves (general funds less fixed assets and funds designated for other purposes) at 31 March 2024 amount to £59,811 (2023: £52,017), which based on 2024 results, equates to 20 months of membership income, therefore exceeding the reserves policy outlined above.

Expenditure levels have increased again this year, bringing total expenditure up 14% from £30,862 to £35,221. Conscious of the increasing age of the building and anticipated repair costs, the trustees maintain a designated fund in the year totalling £3,520 (2023: £6,500). These funds have been set aside for planned maintenance costs post year end.


Angel Centre (Worcester) (Registered number: 02069698)

Report of the Trustees
for the Year Ended 31st March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The Trustees have the power at any time to appoint any person to be a member of the Council of Management and seeks to achieve representation from a broad cross section of society as possible including existing Users of the Centre.

Organisational structure
Day to day management of the Charity's activities is delegated to a Centre Manager, Poppy Bowdige, who works at the Centre usually on 3 mornings per week. Mike White, Secretary, has managed the Charity's finances, working mainly from home, and overseen by the Chair of Trustees through an established checking procedure. With effect from May 2024 a new bookkeeping service will be provided by The Richards Sandy Partnership to manage the Charity's finances in conjuction with the Centre Manager but Mike will continue as Company Secretary for the time being.

Consideration of risks and procedures to manage them
The Charity occupies its premises, known as The Angel Centre, under the original lease granted by the owners, the United Reformed Church when the project was launched some 36 years ago. The term of that lease has expired and negotiations have continued but it has so far not been possible to find a way to renew the arrangement on terms which are acceptable to both parties and which comply with current legislation.

The Trustees have taken legal advice to ensure they are acting appropriately in this matter and their policy is to keep members fully informed and manage the project on a "business as usual" basis while continuing to observe the terms of the original lease, including essential maintenance and repairs to the building while amicable negotiations continue.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02069698 (England and Wales)

Registered Charity number
1002825

Registered office
Room 2
The Angel Centre
Angel Place
Worcester
Worcestershire
WR1 3QN

Trustees
Mrs M D Williams
Mr B Bennett
Mr S McArdle
Mrs S A Ellison
Mr A C Giles
Mrs N Neville-Lee
Mrs K M M Ross (appointed 19.2.24)

Company Secretary
Mr M J White

Independent Examiner
The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU


Angel Centre (Worcester) (Registered number: 02069698)

Report of the Trustees
for the Year Ended 31st March 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Royal Bank of Scotland
Drummond House
Edinburgh
EH12 9JN

CCLA Investment Management Limited
PO Box 12892
Dunmow
Essex CM6 9DL

Approved by order of the board of trustees on 19th August 2024 and signed on its behalf by:





Mrs M D Williams - Trustee

Independent Examiner's Report to the Trustees of
Angel Centre (Worcester)

Independent examiner's report to the trustees of Angel Centre (Worcester) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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.








Melissa Godwin ACA ACCA

The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

22nd August 2024

Angel Centre (Worcester)

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31st March 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 37,314 - 37,314 36,859

Investment income 3 2,045 - 2,045 708
Total 39,359 - 39,359 37,567

EXPENDITURE ON
Charitable activities
Unrestricted funds 35,227 - 35,227 30,862

NET INCOME 4,132 - 4,132 6,705


RECONCILIATION OF FUNDS
Total funds brought forward 65,250 - 65,250 58,545

TOTAL FUNDS CARRIED FORWARD 69,382 - 69,382 65,250

Angel Centre (Worcester) (Registered number: 02069698)

Balance Sheet
31st March 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 6,051 - 6,051 6,733

CURRENT ASSETS
Debtors 10 4,722 - 4,722 2,154
Cash at bank and in hand 59,788 - 59,788 58,671
64,510 - 64,510 60,825

CREDITORS
Amounts falling due within one year 11 (1,179 ) - (1,179 ) (2,308 )

NET CURRENT ASSETS 63,331 - 63,331 58,517

TOTAL ASSETS LESS CURRENT LIABILITIES 69,382 - 69,382 65,250

NET ASSETS 69,382 - 69,382 65,250
FUNDS 12
Unrestricted funds 69,382 65,250
TOTAL FUNDS 69,382 65,250

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

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 19th August 2024 and were signed on its behalf by:





Mrs M D Williams - Trustee

Angel Centre (Worcester)

Notes to the Financial Statements
for the Year Ended 31st March 2024

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 accounts are prepared in sterling, which is the functional currency. Monetary amounts in these financial statements are rounded to the nearest £.

GOING CONCERN - MATERIAL UNCERTAINTY
The charitable objects and activities of the charity rely upon the continued use of the Angel Centre building, which during the current financial year the charity operated for a peppercorn rent, subject to the charity being responsible for the maintenance and repairs of the building.

The lease agreement under which the charity rents the Angel Centre building has expired and is subject to renegotiation. It is possible that the new lease agreement will not be for a peppercorn rent, such that the charity will going forward be required to pay rent to United Reformed Church who owns the Angel Centre building.

Should the charity fail to successfully renegotiate the lease agreement for a rental charge that the charity can afford, then the charity will no longer be able to continue operating without significant changes to both its charitable objects and activities.

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.

Rents receivable (including short term hires) and related income from recharged electricity costs is recognised on a straight-line basis over the period of the lease.

Income from grants (including government grant income) and donations is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when either the charity has to fulfil conditions before becoming entitled to it and such conditions were not met at the balance sheet date or where the donor has specified that the income is to be expended in a future period.

Income from other services are recognised on a straight-line basis over the period in which the service is provided.

Interest income is recognised for on an effective interest rate basis.

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.


Equipment - 20% on reducing balance

Items costing less than £200 are not capitalised.

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.


Angel Centre (Worcester)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

1. ACCOUNTING POLICIES - continued

FUND ACCOUNTING
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.

DONATED SERVICES - USE OF PREMISES FOR PEPPERCORN RENT
The use of the Angel Centre building owned by the United Reformed Church for peppercorn rent is not provided for as a donated service on the basis that the market value of the rent of the premises cannot be measured reliably.

FINANCIAL INSTRUMENTS
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction costs.

2. DONATIONS AND LEGACIES
2024 2023
£    £   
Members fees 24,117 27,534
Electricity recharged 6,023 2,859
Central space hire 7,169 6,435
Photocopier income 5 31
37,314 36,859

3. INVESTMENT INCOME
2024 2023
£    £   
Bank interest 2,045 708


Angel Centre (Worcester)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. SUPPORT COSTS
Management
£   
Unrestricted funds 35,227

Support costs, included in the above, are as follows:
2024 2023
Unrestricted Total
funds activities
£    £   
Wages 8,385 8,626
Rates and water 1,538 1,342
Insurance 1,616 1,331
Light and heat 9,883 6,815
Telephone 626 702
Postage and stationery 299 335
Sundries 19 59
Cleaning materials 5,377 5,307
Repairs and renewals 4,070 2,929
Subscriptions 155 139
Independent examination 1,056 1,008
Legal fees 606 600
Depreciation of tangible and heritage assets 1,511 1,669
(Profit)/Loss on disposal of assets 86 -
35,227 30,862

5. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets 1,511 1,669
Deficit on disposal of fixed assets 86 -

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.


TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.


7. STAFF COSTS

Staff costs for the year are as follows:-

2024 2023
£    £   

Salaries 8,385 8,626

Staff costs relate to the salaries of the Centre Manager and Secretary, who are considered to be key management personnel of the charity.

The average monthly number of employees during the year was 2 (2023 - 1).


Angel Centre (Worcester)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. STAFF COSTS - continued

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

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 36,859 - 36,859

Investment income 708 - 708
Total 37,567 - 37,567

EXPENDITURE ON
Charitable activities
Unrestricted funds 30,862 - 30,862

NET INCOME 6,705 - 6,705


RECONCILIATION OF FUNDS
Total funds brought forward 58,545 - 58,545

TOTAL FUNDS CARRIED FORWARD 65,250 - 65,250

9. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1st April 2023 16,132
Additions 915
Disposals (980 )
At 31st March 2024 16,067
DEPRECIATION
At 1st April 2023 9,399
Charge for year 1,511
Eliminated on disposal (894 )
At 31st March 2024 10,016
NET BOOK VALUE
At 31st March 2024 6,051
At 31st March 2023 6,733


Angel Centre (Worcester)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 63 -
Prepayments and accrued income 4,659 2,154
4,722 2,154

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 53 111
Accruals 1,126 2,197
1,179 2,308

12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 58,750 7,112 65,862
Building maintenance and decorating 6,500 (2,980 ) 3,520
65,250 4,132 69,382
TOTAL FUNDS 65,250 4,132 69,382

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 39,359 (32,247 ) 7,112
Building maintenance and decorating - (2,980 ) (2,980 )
39,359 (35,227 ) 4,132
TOTAL FUNDS 39,359 (35,227 ) 4,132


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 58,545 6,705 (6,500 ) 58,750
Building maintenance and decorating - - 6,500 6,500
58,545 6,705 - 65,250
TOTAL FUNDS 58,545 6,705 - 65,250

Angel Centre (Worcester)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

12. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 37,567 (30,862 ) 6,705

TOTAL FUNDS 37,567 (30,862 ) 6,705

Unrestricted

General Fund
This represents monies received without restriction as to their application. The funds are utilised in the general running of the charity. The balance at 31st March 2023 is £65,862 (2023 £58,750).

Building maintenance and decorating Fund
The purpose of this fund is to set aside reserves to cover planned maintenance costs to ensure the building is maintained to a high standard. The balance at 31st March 2024 is £3,520 (2023 £6,500).

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024 nor for the year ended 31 March 2023.

14. DONATED SERVICES - USE OF PREMISES

During both the current and previous years the charity was provided use of the Angel Centre building owned by the United Reformed Church for a peppercorn rent.

No income and expenditure has been accounted for the use of the Angel Centre building on the basis that the market value for the rent of this building cannot be reliably measured.

The lease agreement that manages this rental arrangement has expired and is currently being renegotiated.

15. INDEPENDENT EXAMINATION

The independent examination fees for the year ended 31 March 2024 amounted to £1,056 (2023 £1,008).