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FINANCIAL REPORT
by Sentebale
During the year, Sentebale secured income of £4.55m, compared with £3.13m the previous year.
unrestricted (2021: £1.90m) and £0.8m was restricted to current programmes (2021: £1.24m). Included in the total income is £0.5m of gifts in kind (2021: £0.3m).
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The total expenditure in the year was £3.59m (2021: £3.03m). Fundraising costs accounted for £0.8m (2021: £0.5m), an increase of £0.3m. This is due to higher gifts in kind contributions and an additional fundraising event held in the year, compared to the prior year.
The amount spent on charitable activities was
This was mainly due to higher level of spending in line with restricted funded grants as well as the gradual easing of COVID-19 restrictions during the year, which enabled us to resume more of our community -based work and bring together young people.
The net assets on the balance sheet at the year-end totalled £2.58m (2021: £1.62m). They being general unrestricted funds, restricted programme designated reserve of £1m (2021: £0), which will be invested in helping rebuild programmes impacted by the COVID-19 pandemic and support new interventions.
