IRIS Accounts Production v24.2.0.383 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0199102023-03-31NI0199102024-03-31NI0199102023-04-012024-03-31NI0199102022-03-31NI0199102022-04-012023-03-31NI0199102023-03-31NI019910ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-31NI019910ns15:PoundSterling2023-04-012024-03-31NI019910ns11:FRS1022023-04-012024-03-31NI019910ns11:IndependentExaminationCharity2023-04-012024-03-31NI019910ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-31NI019910ns11:FullAccounts2023-04-012024-03-31NI019910ns11:CharitiesSORP2023-04-012024-03-31NI019910ns16:EnglandWales2023-04-012024-03-31NI019910ns11:RegisteredOffice2023-04-012024-03-31NI019910ns0:Trustee32023-04-012024-03-31NI019910ns0:Trustee12023-04-012024-03-31NI019910ns0:Trustee42023-04-012024-03-31NI019910ns0:Trustee52023-04-012024-03-31NI019910ns0:Trustee22023-04-012024-03-31NI019910ns11:CompanySecretary12023-04-012024-03-31NI019910ns0:Activity82023-04-012024-03-31NI019910ns0:Activity82022-04-012023-03-31NI019910ns10:WithinOneYear2024-03-31NI019910ns10:WithinOneYear2023-03-31NI019910ns0:TotalUnrestrictedFunds2024-03-31NI019910ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-04-012024-03-31NI019910ns10:PlantMachinery2023-04-012024-03-31NI019910ns10:FurnitureFittingsToolsEquipment2023-04-012024-03-31NI019910ns10:ComputerEquipment2023-04-012024-03-31NI01991022023-04-012024-03-31NI019910ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-31NI019910ns10:PlantMachinery2023-03-31NI019910ns10:FurnitureFittings2023-03-31NI019910ns10:ComputerEquipment2023-03-31NI019910ns10:FurnitureFittings2023-04-012024-03-31NI019910ns10:LandBuildingsns10:OwnedOrFreeholdAssets2024-03-31NI019910ns10:PlantMachinery2024-03-31NI019910ns10:FurnitureFittings2024-03-31NI019910ns10:ComputerEquipment2024-03-31NI019910ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-31NI019910ns10:PlantMachinery2023-03-31NI019910ns10:FurnitureFittings2023-03-31NI019910ns10:ComputerEquipment2023-03-31NI019910ns10:CostValuationns10:UnlistedNon-exchangeTraded2023-03-31NI019910ns0:TotalUnrestrictedFunds2023-03-31
REGISTERED COMPANY NUMBER: NI019910 (Northern Ireland)
REGISTERED CHARITY NUMBER: 103568














Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

SOUTHERN GROUP ENTERPRISES LIMITED

SOUTHERN GROUP ENTERPRISES LIMITED

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: NI019910)

Report of the Trustees
FOR THE YEAR ENDED 31 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 31 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
The objects of the charity are:

" To enhance education, in particular for young people, by providing training facilities for the acquisition and development of occupational skills and work experience for periods in each case not normally exceeding two years."

The main objectives for the year continue to be focused on the provision of community based training.

Public benefit
The trustees are confident that the charitable aims of Southern Group Enterprises Limited satisfy the principles of public benefit as defined in the Charities Act. They have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning its future activities.

The public purpose of Southern Group Enterprises Limited is to provide an educational programme, based on occupational and essential skills, to those pupils at school who wish to opt out of the formal academic route. The target group are those pupils who at the age of fourteen to sixteen are seeking an alternative educational system that challenges them to develop and demonstrate their individual capabilities and creative skills. The provision of the vocational/occupational programmes provided by Southern Group Enterprises Limited is an extension to the secondary level of the mainstream educational system. The benefit of this is two fold in that it enhances and supports the career departments within the local schools by providing the opportunity for work related training for pupils during school time and secondly the beneficiaries, the pupils, gain through maximising their potential through obtaining a vocational career and the feeling of self esteem and respect from this achievement, attaining relevant academic and vocational qualifications but also developing life skills both at a personal and social level. The age at which pupils enter the vocational/occupational programmes is one that Southern Group Enterprises Limited see as a defining time of a young person's life during which time their personality/expectations are determined and defined for later life. The public purpose therefore is the starting point under which education can provide a stable environment and base for each young person going forward. As for the community the benefit derived is that upon entering society at large the pupils have become young adults displaying responsibility and self belief within themselves that originates through the acquisition of skills attained within the educational programme.


SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: NI019910)

Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024


ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity, in conjunction with schools within the Newry and Mourne education catchment area, provided vocational training during the academic year to those pupils seeking an alternative option to the traditional education route of learning.

The educational programmes, provided by the charity within a supported environment, gives students the opportunity to:

- develop life long skills for independence
- enable progression to other educational courses, training and employment
- help to raise levels of achievement; and
- develop transferable skills needed in an ever evolving work environment.

The academic year saw over 80 students from local schools engage in achieving vocational qualifications provided by educational providers such as the City & Guilds and delivered at source by the charity. The success of the charity can be seen, not only in the tangible evidence of academic qualifications but also, in the transformation of the young students belief in their own ability to set and achieve personal goals.The charity affords young students, on the basis of their academic success, the opportunity to seek and develop careers in their chosen vocation and provide employers with a workforce capable of meeting the demands of todays economy. The achievements of the charity's students reflects the delivery of the aims of the charity in each and every subsequent academic year.

FINANCIAL REVIEW
Financial position
The end of the year saw a result in which there was a demand upon the charity's financial resources and the results for the year are set out in detail on pages 6 to 15. The company returned a deficit for the year of £4,389.

Principal funding sources
The main source of funding is derived from the provision of training under the STEPS and VEP programmes. The charity provides these services directly to the local schools, ultimately the funding is provided by the Southern Education & Library Board.

Investment policy and objectives
Under the Memorandum and Article of Association, the charity has the power to invest in any way the trustees wish. However in formulating an investment policy, the charity has recognised that whilst it may have surplus funds to invest, these are likely to be called upon in the short term. The policy is to maintain high levels of capital security by minimising interest rate risk, maximising returns and liquidity and maintaining low transaction costs.

Reserves policy
The Management Committee have examined the charity's requirements for reserves in light of the main risks to the organisation. A policy has been established whereby unrestricted funds not committed or invested in tangible assets held by the charity should be between 6 and 9 months of the annual budgeted expenditure. Budgeted expenditure for 2023/24 is approximately £265,000 and therefore the target is between £132,500 and £198,750 of general unrestricted funds. The reserves are required to meet the working capital requirements of the charity. The charity recognised the continued need of a fund to both refurbish and make improvements to their land and buildings. As such a designated fund of £550,000 was set aside for the redevelopment and improvement of the charity's property. To date an amount of £291,870 of this fund has been used leaving designated funds for the redevelopment and improvement of the charity's land and buildings of £258,130.

Free reserves at 31 March 2024 amount to £141,245, which falls short of the lower target figure of £165,625 for unrestricted funds. In calculating reserves the designated fund (£258,130) and the net book value of fixed assets held (£320,378) have been excluded. Although the strategy is to continue to build reserves, the Management Committee is aware that it is unlikely that the target can be reached for a number of years.

The charity plans to continue the objectives and activities outlined above, subject to satisfactory funding arrangements.


SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: NI019910)

Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The company was incorporated on 22 October 1986 as a charitable company limited by guarantee, and also received charitable status from HM Revenue & Customs. The company was registered with the Charities Commission in Northern Ireland on 16 December 2015. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposed of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

Due to the nature of the charity's work the trustees seek to ensure that these needs are appropriately reflected through the diversity of the trustee body. To enhance the potential pool, trustees are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirement, individuals are approached to offer themselves for election.

Induction and training of new trustees
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. They also meet other trustees and are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

All trustees are already familiar with practical work of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
NI019910 (Northern Ireland)

Registered Charity number
103568

Registered office
Unit 22 Rampart Way
Greenbank Ind Estate
Warrenpoint Road
Newry
Co. Down
BT34 2QU

Trustees
C P Bagnall Mobile Engineer
Ms M D M Coulter Solicitor
R G Coulter MBE Building Contractor
K McGivern Chartered Accountant
C O'Hare Administrative Officer

Company Secretary
Mrs B Rocks


SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: NI019910)

Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Mr Conaill McGrady FCA
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

Solicitors
MDM Coulter
125 Harbour Road
Kilkeel
Co.Down
BT34 4AT

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 25 June 2024 and signed on its behalf by:





Mrs B Rocks - Secretary

Independent Examiner's Report to the Trustees of
Southern Group Enterprises Limited (Registered number: NI019910)


I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages six to fifteen.

Respective responsibilities of charity trustees and examiner
As the charity's trustees (and also the 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.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 65 of the Charities Act
- 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
- state whether particular matters have come to my attention.

Basis of the independent examiner's report
I have examined your charity accounts as required under Section 65 of the Charities Act and my 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. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

1. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. 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
4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in Ireland which is one of the listed bodies.

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.








Mr Conaill McGrady FCA
The Institute of Chartered Accountants in Ireland

M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

25 June 2024

SOUTHERN GROUP ENTERPRISES LIMITED

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2024

31/3/24 31/3/23
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities 214,130 179,595

Investment income 2 10,530 4,146
Other income 3 33,153 19,903
Total 257,813 203,644

EXPENDITURE ON
Charitable activities
Charitable activities 262,202 163,629

NET INCOME/(EXPENDITURE) (4,389 ) 40,015


RECONCILIATION OF FUNDS
Total funds brought forward 724,142 684,127

TOTAL FUNDS CARRIED FORWARD 719,753 724,142

SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: NI019910)

Balance Sheet
31 MARCH 2024

31/3/24 31/3/23
Total Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 9 320,378 320,177
Investments 10 120 120
320,498 320,297

CURRENT ASSETS
Debtors 11 35,599 29,728
Cash at bank and in hand 372,163 381,266
407,762 410,994

CREDITORS
Amounts falling due within one year 12 (8,507 ) (7,149 )

NET CURRENT ASSETS 399,255 403,845

TOTAL ASSETS LESS CURRENT
LIABILITIES

719,753

724,142

NET ASSETS 719,753 724,142
FUNDS 13
Unrestricted funds:
General fund 630,030 634,419
Revaluation Reserve 89,723 89,723
719,753 724,142
TOTAL FUNDS 719,753 724,142

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


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


SOUTHERN GROUP ENTERPRISES LIMITED (REGISTERED NUMBER: NI019910)

Balance Sheet - continued
31 MARCH 2024

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 and authorised for issue by the Board of Trustees and authorised for issue on 25 June 2024 and were signed on its behalf by:





M D M Coulter - Trustee

SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements
FOR THE YEAR ENDED 31 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, with the exception of investments which are included at market value.

The date of transition to FRS 102 was 1 April 2016. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

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.

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 - 2.5% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 12.5% on cost
Computer equipment - 25% on cost

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.

Designated funds are unrestricted funds earmarked by the trustees for particular purpose's.

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.

SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. INVESTMENT INCOME
31/3/24 31/3/23
Unrestricted Total
funds funds
£    £   
Deposit account interest 10,530 4,146

3. OTHER INCOME
31/3/24 31/3/23
Unrestricted Total
funds funds
£    £   
Other income 32,291 19,903
Canteen income 862 -
33,153 19,903

4. NET INCOME/(EXPENDITURE)

Net Resources are stated after charging/(crediting):
2024 2023
£    £   

Depreciation - owned assets 18,476 19,436
Independent examination fees 2,443 2,700
===== =====




5. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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



SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. STAFF COSTS

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

31/3/24 31/3/23
Administrative staff 8 8

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

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£   
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable activities 179,595

Investment income 4,146
Other income 19,903
Total 203,644

EXPENDITURE ON
Charitable activities
Charitable activities 163,629

NET INCOME 40,015


RECONCILIATION OF FUNDS
Total funds brought forward 684,127

TOTAL FUNDS CARRIED FORWARD 724,142

8. GOING CONCERN

The financial statements have been prepared on the assumption that the company is able to carry on its business as a going concern which the directors consider appropriate whilst having regard to the trading results of the financial year.

Although the company's core activity has increased in line with expectations all costs have been minimalised and due to its reserves it is able to meet its commitments for twelve months from the date of signing these financial statements.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. However should the company not be able to meet its commitments long term the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made to adjust the value of its assets to their realiable amount and to provide for any further liabilities which may arise.

The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 558,740 53,234 289,331 51,572 952,877
Additions - - 11,999 6,678 18,677
At 31 March 2024 558,740 53,234 301,330 58,250 971,554
DEPRECIATION
At 1 April 2023 239,903 53,234 289,153 50,410 632,700
Charge for year 13,968 - 1,676 2,832 18,476
At 31 March 2024 253,871 53,234 290,829 53,242 651,176
NET BOOK VALUE
At 31 March 2024 304,869 - 10,501 5,008 320,378
At 31 March 2023 318,837 - 178 1,162 320,177

10. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
MARKET VALUE
At 1 April 2023 and 31 March 2024 120
NET BOOK VALUE
At 31 March 2024 120
At 31 March 2023 120

There were no investment assets outside the UK.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 34,229 28,392
Prepayments and accrued income 1,370 1,336
35,599 29,728


SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Accruals and deferred income 8,507 7,149

13. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£    £    £   
Unrestricted funds
General fund 634,419 (4,389 ) 630,030
Revaluation Reserve 89,723 - 89,723
724,142 (4,389 ) 719,753
TOTAL FUNDS 724,142 (4,389 ) 719,753

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 257,813 (262,202 ) (4,389 )

TOTAL FUNDS 257,813 (262,202 ) (4,389 )


Comparatives for movement in funds

Net
movement At
At 1/4/22 in funds 31/3/23
£    £    £   
Unrestricted funds
General fund 594,404 40,015 634,419
Revaluation Reserve 89,723 - 89,723
684,127 40,015 724,142
TOTAL FUNDS 684,127 40,015 724,142

SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. 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 203,644 (163,629 ) 40,015

TOTAL FUNDS 203,644 (163,629 ) 40,015

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/4/22 in funds 31/3/24
£    £    £   
Unrestricted funds
General fund 594,404 35,626 630,030
Revaluation Reserve 89,723 - 89,723
684,127 35,626 719,753
TOTAL FUNDS 684,127 35,626 719,753

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 461,457 (425,831 ) 35,626

TOTAL FUNDS 461,457 (425,831 ) 35,626


SOUTHERN GROUP ENTERPRISES LIMITED

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

15. COMPANY LIMITED BY GUARANTEE

The Company is limited by guarantee and therefore has no share capital.