REGISTERED COMPANY NUMBER: 02701445 (England and Wales) REGISTERED CHARITY NUMBER: 1010448 SCOTfIsH CHARITY NUMBER: SC038887 Report of the Trustees and Financial Statements for the Year Ended 31 March 2024 for Remar Assoclation (UK) Mabe Allen LLP a)artered Accountant5 ststutory Audltors 50 Osmaston Road Derby DEI 2HU
Remar Assoclation (UK) Contents of the Flnanclal Statements for the Year Ended 31 March 2024 Page Repoi't of the Trustees Report of the Independent Auditors Consolidated Statement of Flnancial Activities 13 Consolldat& Balan Sheet 14 Company Balan Sheet 15 Consolldated Cash Flow Statement 16 Notes to the Consolidated Cash How SLatement 11 Notes to the Financial SLatements 18 Detalled Ststement of Financial Activlties 35
Remar Assoclation (UK) 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 20061 present their report with the flnanclal ststements of the charlty for the year ended 31 March 2024. The trustees have adopted the provisions of Accountlng and Reportlng by Charltles., Statement of Recommended Practice appllcable to charltles preparlng thelr accounts In aOrdanCe wrfch the Flnancial Reporting Standard appllcable in the UK and Republic cf Ireland (FRS 102). Basis and Values Remar Assixlatlon (UK) Is a charlty whose Insplration and values derive from the Chrlstlan falth. These values, enrlched and shared by many people of other faiths and phllosophlesi provtde the basls of the work wlth persons affected by drug addiction and alcoholism, and with their familles and dependents. OBJECTIVES AND ACTIVITIES Objectives and aims The objects cf Remar Assoclatlon (UK) as amended by a Speclal Resolution dated 17 July 2003 atmd as defln& by the Memorandum of Associatlon are.' l) to relleve In any part of the World sufferlng from rJ)verty andlor sickness particularly among persons affected by solvent abuse, drug addiction and/or alcoholism and to restore and rehabllitate such persons and to relieve the sufferlng of parents, spousesi partners, chlldren (Includlng orphaned and abandoned) of such affected persons; to educate the public and persons affected by solvent abuse, drug addlction and alcohollsm and in danger of solvent, drugs and alcohol addiction in suth manner as the directors think fit. 11) to relieve in any part of the World povety, deprivation and dlstress among persons of any age or race induding without limit asSiStsn directly or indirettly for places of education and care of the sick. 111) the care, re-settlement and rehabllitation of offenders and their famllles and dependants in any part of the World. Iv) the advanment of the Chrfstlan faltt). Sigiilficant actlvltles The current focus of Remar Association (UK)'s work is based upon four main pillars: i) To ralse awareness of the Christian faith through evangelism. ii) To instil discipleship in the Christian faith. iii) To undertake Christian soclal work, the practical expression of which is in assistan to persons affected by solvent abuse, drug addlction andlor alcoholism, ex-offenders, the relatives cf such affected persons and als0 in financial and materlal support for Ihe ChrlslJan sodal work of Remar In other parts of the world, Indudlng help to orphaned and abandoned chlldren. Iv) To ralse fundsi partscularly through Its own Chrlsllan business enterprlses, to support its activittes. The followlng are some of the main actAvities and developments in the different areas over the past year: We have been doing evangelistic work on the streets of central London and people have come to our ntre5 directly as a result of this activity, also evangelising On a week in Glasgow (Scotland). Dlsci The general work of dlsdpleship contlnues amongst th benefldarles who, once their Ilves have been fully restored, decide to stay on as volunt*r Chrlstlan workers. Thls Is ma5nly praclical tralnlng, carrled on In the day-to-day routlne of each house. Page I
Remar Assoa"ation (UK) Report of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIvrrIES Slgnificant activltles - contlnued Lxial Wor We wish to contlnue to refer people from the Unlted Klngdom wlth problems of drug and alcohol addlctlon to the Spanish Remar centres. Others contsct Remar Spaln dlrectly for help wlth their problems. We have also been able to contlnue with our financlal programme of gifts and donatlons to Remar centres In other parts of the world, as shown In the financlal report. Soclal work amongstthe poor and maryinalised has continued during the year. In Nottlngham and London, a programme "Angels in the night" contlnues brtnging to the homeless and street people weekly a programme of hot food, sandwithes, and refreshments. A programme of dlstrlbutlng food par15 weekly has contlnued for those In need of baslc ft)od. Chrfstlan Buslnes5 Ent We contlnue to generate the majorfty of our funds from the profits made by our Charlty Shops and onllne sales whlch sell new and second-hand donated furnlture, clothlng & brfc-a-brac, and wlth a percentage of actlvlty undertaken by our subsidiary trading company, Remar UK Limited. These shops are funttloning in four different towns or dtles (2023: four) at present and continue to be a financial success. Public benefit Under the Charities Act 2011, charities are required to demonstrate that their aims are for the public benefit. The two key prlnclples which must be met in this context arE, first, that there must be an identifiable benefit or benefits; and, secondly, that the beneflt must be to the publlc, or a sethon of the publlc, Charlty Trustees must ensure that they carry out thelr charlty's aims for the publlc beneflt, must have regard to the Charity Commisslon's and the offi of the Scottlsh Charlty Regulator's guldance, and must report on public benefit In their Annual Repmjrt. Remar Association (UK)'s Board of Trustees regularly monltors and revlews the success of the organlzatlon In meeting Its key objectives of helping people suffering from poverty, sicthess and affetted by drug addiction and al(rJhollsm. The •• Trustees confirm, in the light of the guidance, that these aims fully mt the public benefit test and that all the activities of the Charity, described in this report under Its current focus, are undertaken In pursuit of its aims. Grant Making Declsions on maklng grants are taken by the Trustees and are normally made to Remar SIn for dlstribution to other Remar organisations around the world (s Nots 7) based on where the need Is greatest. Volunteers The voluntary workers Include drug-addlcts and alcohollcs In rehabllltatlon, addicts already rehabllltated and Indlviduals dedicating themselves full tlme to the work of the Charity. These indlviduals live In the various properknes rented by or belonging to the Charlty and have thelr needs provtded by the ChaFIty. The Trusteps conslder It very Important that those who no longer have problems of addiction live alongside those who arrive as drug addicts and alcoholics, so that they can care for them LMenty-ft)ur hours a day. The Trustees wlsh to thank those many volunteers who glve thelr tlme to the varlous projects, In totsl thls represents hours of worl( which cannot Possibly be valued, but without which Remar Association (UK) WDuld not exist. Page 2
Remar Association (UK) Report of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Financial position The last financlal year has seen the Charity develop and consolldate Its servlces. The Consolldated Balantt Sheet Indlcates that at 31 March 2024 the total funds of the group were £552,699 (2023: £583,057). Thls was represented by tangible fixed assets of E795,065 (2023. £821,475) and net current assets of £83,639 (2023. £98,780), with a further £326,005 (2023: £337,198) Ilabilitles due after more than one year. The liabilitles Include the outstandlng balance of £340,975 (2023: £355,944) due on bank loans. Unrestricted funds of £552,699 (2023: £583,057) represents the reserves available to the group to fulfil the Charity's existing commitments over the long term and also to finance the expected growth In actlvlty. The Consolldated Statement of Flnanclal Actlv5tles indlcates that total resources expended for the year ended 31 March 2024 was £942,523 (2023: £1,004,610) with total income generated of £912,165 (2023: £926,266). The existence and operation of charity shops by the Charity provides a substantial base for the future wlth five shops (2023: fwe) in operatlon at the year end, Resettlement and care expenditure at a cost of £151,218 (2023.. £203,059) contlnued to be a signlficant part of the Charlty's activltles. Durfng the year Fare5hare provlded the charlty food with a fair value of £35,360 (2023: £53,163) ft)r distribution to the beneficiaries of the charity. The Trustees will progress the strategy to develop and grow the Charty. The Trustees are confident that they are well plattd to fulfll the objectlves of the Charlty Into the future. ?ding Activities The results of Remar UK Llmlted, the wholW owned subsldlary company of the charlty are summarlsed in Nots 14 of the Financial Statements. During the year, the trading subsidiary has made donations of £37,638 (2023: £41,573) transferring prof5 to the parent charlty. The dlrectors of the subsldlary who are also Trustees of the charity are: G W Harvey and J Blatch. Financial reserves policy The Trustees are seeklng to provlde a capital SerVe of 3 months running costs. It should be noted that Remar Association UK has in place an agreement, renewed annually, with Remar Madrid, that in the event of lack of cash flo or tlie inability to cover financial obligations, Remar Association (UK) wlll recelve funds from Remar Madrld. At 31 March 2024 the unrestrlcted reserves of the Charlty amounted to £552,699 (2023: £583,057). The unrestricted reserves going forward should help to finan the interest on the bank loans whlch exlsts. The amount of funds that can only be realised by disposing of tangible fixed assets amounted to £454,090 as at 31 March 2024 (2023.. £460,037). After maklng allowan for funds that can only be realised by dlsposlng of tsngible flxed assets the free reserves of the charlty a £98,609 (2023: £119,255). Flnanclal and rfsk management obJectlves and pollcles Financial Funds surplus to requirement to the running of the UK operation are transferred to Remar International where they are used excluslvely for the soclal work In the developlng world and in particular to assist our work with orphaned and abandoned children. All(xation of funds is made by a Commiltee which sits once a month. Page 3
Remar Association (UK) Report of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Financial positlon - contlnued Restoration of Llves Supervision of those persons undergoing rehabilitatlonls undertaken by monltors who lfve twenty-four hours a day with those In rehabilitation. Monitors are persons who are Judged by the General Manager as responsible and capable of assisting others. Rlsk rnanagement The major risks to which the charity is exposed, as identified by the Trustees, have been revlewed and systems have been established to mltlgate those risks. The Trustees appolnted the law firm Maurice Turnor Gardner, 15th Floor, Mllton Street, London EC2Y 9BH, with the lead lawyer Jennifer Emms, specialist in UK charity law and governan. A ' rwt and branch, review was undertaken to ensure that Remar Assoclatlon were compliant with all aspects of the Charty Commlsslon's guldelines, with special attention given to risk management. The Trustees further retained the services of MTG to carry out a revlew of cperatlng procedures wlth a focus on risk managemenL at year end 2024. Teaching and Training At a national and IOGII level, monltors are constantly being taught, evaluated and encouraged by Joaquin Munt, the General Manager, who is also a Pastor in the Body of Chrlst Church and has over 20 years, experience in rehabilitation of drug and alcohol addicts and is supported by Pastor Sergio Fialho and Pastor Toni Riberio. At an intematlonal level, regular courses are held in Nadrid. The Trustees have tasked the General Manager to engage with a local charw set up for the purpose of provldlng skllls- based training. We are engaging with the Nottlngham Community and Voluntary Services, NCVS charity, and managers and supeNisors selected by the General Manager will attend regular training courses. The Trustees have tasked the General Manager to keep a record of all the training courses and those individuals who attend. The Trustees are considering producing an internal certlflcate in conjunctlon wlth the local charity to glve individuals when they have sucsSfUllY completed tralnlng, Changes in Fixed Assets The movements in fixed assets during the year are set out in the notes to the Financial Statements, STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Remar Association (UK) is a Reglstered Charty (number 1010448 for England and Wales and SC038887 for Scotland) and a company Limited by guarnntee (number 02701445) whlch was set up on the 27 March 1992. Its governing instrument is the Memorandum and Articles of Association which were issued at that date. STRucfuRE, GOVERNANCE AND MANAGEMENT Recrultment and appointment of new trustees A panel comprlslng exlstlng Twstees selects members to Join the Trustee board. After an appropriate period of observation and enqulry to assess suitability new Trustees undergo an orientation to brlef them on their legal obligations under charity and company law, content of the Memorandum and Artjcles of Association, the board of Trustees and declslon-maklng processes and recent flnancial performance of the Charity. The Trustees retire by rotatlon wFth the longest seNing director, if willing to act, offering himself for re-election at the Annual General Meeting. Page 4
Remar Association (UK) Report of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Organlsatlonal structure Remar Association (UK) operates as an Independent charlty, although It Is In contact with the network of charltles under the Remar umbrella, an Intematlonal Christian Outreach Minlstry. In addition, there exists a wholly owned subsldlary company, Remar UK Llmlted, whlch has previously undertaken to make a covenanted donaljon wlthln the meaning of the Corporation Tax Act 2010 Sectlon 189. The Trustees are responsible for the overall management and control of the Charity and re1ve reports from the General Manager Joaquln Munt. Responsiblllty for operatlonal attivltles Iles In the hands of the General Manager, who Is supported by other volunteers. The Trustees have overall reswnslblllty for ensurlng that the Charlty has approprlate systems of control, flnanclal or otherwlse. Page 5
Remar Assoclatlon (UK) Report of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02701445 (England and Wales) Reglstered Charity number 1010448 Scottlsh Charlty Number SCO 38887 Reglstered office 845-847 Hlgh Road Leytonstone London Ell IHH Trust J Blatch G W Harvey L Engllsh Company Secretary A Ipgrave Auditors Mabe Allen LLP Chartered Accountants statutory Auditors 50 Osmaston Road Derby DEI 2HU Bankers Lloyds TSB Bank PIC Market Square House Old Market Square Nottlngham NGI 6FD Soliators Geldards Number One Pride Pla Prlde Park Derby DE24 8QR Page 6
Remar Associatlon (UK) Report of the Trustees for the Year Ended 31 March 2024 srAfEMÈNT OF TRUSTEES RESPONSIBILrriES The trustees (wlm) are also the directors of Remar Association (UK) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance wlth applicable law and Unlted Klngdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Prattice), including Financial Reportlng Stsndard 102 'The Financial RekK)rting Stsndard applicable In the UK and .Republlc of Ireland" Company law requlres the trustees to prepare flnanclal ststemènts for each financlal year whlch glve a true and falr vlew of the stste of affairs Df the charitsble company and of the Incomlng resources and application of resources, induding the Income and eynditure, of the charitable company for that period. In preparlng those flnancial ststements, the trustees are required to select suitsble accounting policies and then apply them consistentlyi observe the methods and principles in the Charity SORP; ake judgements and esiimates that are reasonable and prudent prepare the financial ststements on the going coKern basis unless It Is Inapproprlate to presume that the charitsble cornpany will continue in business. The trustees are reswnslble fr)r keeping proper accounting records which disclose with reasonable accuraty at any ljme the financial position of the charitsble company and to enable them to ensure that the financial ststements comply with the Companles Att 2006. They are also responsible for safeguarding the assets of the charliae company and hen for taklng reasonable steps for the prevention and deteciion of fraud and other Irregular((les. DISCLOSURE OF INFORMATION TO THE AUDrroRS In so far as the trustee5 are aware.. there is no relevant audit information of which the charttsble company's auditors are unaware; and the trustees have tsken all steps that they ought to have tsken to make themselves aware of any relevant audit nformation and to estsblish that the audltors are aware of that information. AUDITORS The auditors, Mabe Allen LLP, will be prowsed for re-appointment at the fortho)ming Annual General Meeting. Thls report has en prepared in accordance with the speclal provlslons of Part 15 of the Companies Act 2006 relating to small companles. Approved by order of the board of trustees on and signed on its behalf by.. G W Harvey- Tru Page 7
Remar Association (UK) Independent Audltor's Report to the Members and Trustees of Remar Assoaation (UK) Unmodified Opinion We have aUdIt the flnanclal statements of Remar Association (UK) (the'parent charltable company,) and Its subsldiary (the 'group? for the year ended 31 March 2024 whlch comprfse of the Group Consolldated Statement of Flnanclal Activltle5, the GroLJP Summary Income and Expendlture Account, the Group Consolldated and Parent Charltable Company Balan Sheet, the Group Consolidated Cash Flow Statement and notes to the financial statements includlng a summary of significant accountlng policies. The flnancial reportlng framework that has been applled In their preparatlon Is applicable law and United Kingdom Accounting Standards, including Financial Reportlng Standard 102 The Reportlng standard applicable in the UKand Republic of Ireland (Unit& Kingdom Generally Apted Accountlng Practlce). In our oplnlon, eXpt for the posslble effects of the matter described in the basis for qualified opinion 5ectlon of our report, the financlal statements: glve a true and falr vlew of the state of the group's and parent charltsble company's affalrs as at 31 March 2024, and of the group's and parent charltable company s Incoming reSoUrS and appllcatton of resources, including the group's parent charitable company s income and expendlture, for the year then ended. have bn properly prepared In accordan wlth United Kingdotn Generally A(XEPted Acunting Practlce. and have been prepared In accordan wlth the requlrements of the Companles Act 2006, the Charities and Trustee Investment (Scotland) Att 2005 and regulatjons 6 and 8 of the Charltles Accounts (Scotland) Regulatlons 2006. Basis for unmodlfled oplnlon We conducted our audit in accordance with Intemational Standards on Auditing CUK) (ISAS (UK)) and appllcable law. Our responsibillb'es under those standards are further described in the Auditorfs responsibilities for the audlt of the finanaal ststements ction of our report. We are independent of the group and parent charitsble company In ardan with the ethical requirements that are relevant to our aLKlit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with tEiese requirements. We belleve that the audlt evidence we have obtained is sufficient and appropriate to provide a basis for our qualified oplnlon. Concluslons relatlng to golng concern In aUdIng the financial statements, we have concluded that the directors, use of the going concern basis of accounting In the preparation of the financial statements is appropriate, Based on the work we have rformed. we have not Identlfled any materlal uncertalntles relatlng to events or conditions that indlvldually or collectively may cast doubt on the companfs ability to continue as a golng cOnM for a period of at least twelve months from when the flnanclal statements are aulhorlsed for Issue. Our responslbllltles and the responslblllties of the dlrectors with respect to golng conrn are destribed In the relevant seclions of this report. Our oplnlon Is not MJIfIed In respect of this matter. Page 8
Remar Assoclatlon (UK) Independent Auditor's Report to the Members and Trustees of Remar Association (UK) - contlnued Other information The trustees are rest)Jnsible for the other inforniation. The other information comprises the infomiation included In the rewrt of the trustees, other than the financial statements and our auditorfs report thereon. Our oplnlon on the finandal slatements does not cover the other Information and, expt to the extent otherwise expllcltly 5tatsd In our rert, we do not express any form of assuran concluslon thereon. In connection wlth our audlt of the flnanclal statements, our reswnslblllty Is to read the other Informatlon and, in doing so, consider whether the other Infonnatlon Is materlally Inconslstent wlth the financlal statements or our knowledge obtalned In the audlt or otherwlse appears to be materlally misstated. If we Identlfy such material Inconslstencles or apparent material misstatements, we are requlred to determine whether there is a materlal mlsstatement In the flnanclal statements or a material mi&8tatement of the other Informatlon. If, based on the work we have performed, we conclude that there is a materièl misstatement of this other Infomiatlon, we are required to report that fact. Opinions on other matters prescribed by the Companies Act 2006 In our oplnlon, based on the work undertaken In the course of the audlt: the informatjon glven In the report of the trustees (Ino)ryioratlng the dlrectors, report) for the flnanclal year for which the flnanclal sts*ements are prepared Is conslstent wlth the flnancial statements. and the report of the dlrectors has been prepared In accordan wlth appllcable legal requlrements. Matters on which we are required to report by eXCepon In the light of our knowledge and understanding of the group and parent charitable company and its envlronment obtsined in the course of the audit, we have not Identified material mlssLalements in the directors, report. We have nothlng to report In resp of the following maiters in relatlon to whlth the Companies Act 2006 and the Charlties Accounts (Scotland) Regulatlons 2006 requlre us to report to you If, In our oplnlon., adequate accountlng records have not been kept, or returns adequate for our audlt have not been recelved from branches not vislted by us. or the parent charitable cnmpanvs flnanclal statements are not In agreement MAth the accountlng records and rettjms. or certain disdosures of directors, remuneration speafied by law are not made. or the trustees were not entitled to prepare the financial statements In accordan with the small companies, regime and take advantage of the small companies, exemptions in preparing Lhe dirertors, report and from the requlrement to prepare a strateglc report. Page 9
Remar As50ciatson (UK) Independent Auditorfs Report to the Members and Trustees of Remar Association (UK) - contlnued Responslbllltles of trustees As explalned more fully in the trustees, responslbilitles statement set out on page 6 the trustees (who are also the directors of the charltable company for the purposes of company law) are responsible for the preparation of the financlal statements and for belng satISfe that they glve a true and falr vlew, and for such internal control as the trustees determine Is necessary to enable the preparatlon of financlal statements that are free from materlal misstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responslble for assesslng the group's and parent charitable companys ability to continue as a golng COnM, dlscloslngi as appllcable, matters related to golng contrm and using the going corrn basis of accounting unless the trustees elther Intend to Ilquldate the group or the parent tharitsble company or to cease operatlons, or have no realistic altematlve but to do so, Audltorfs responslbilitl for the audit of the financial statements We have been appolnted as audltor under section 44(1)(c) of the Charlties and Trustee Investment (Scotland) Act 2005 and under the Companles Att 2006 and report in accordan with regulations made under thi)se Acts. Our objeclives are to obtaln reasDnable assurance about whether the financlal statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an audltor's report that Indudes our opinion. Reasonable assurance is a high level of aUran but Is It a guarantee that an audit conducted In accordance with ISAS (UK) wlll always detect a material misstatement when It exlsts. mItatementS can arlse from fraud or error and are considered material if, irKlividually or in the aggregate, they could reasonably expected to Influence the economlc declslons of users taken on the basis of these financial statements. Irregularltles, Incluélng fraud, are Instan of non-complian with laws and regulations. We design produre In Ilne wlth our responslbllltles, outllned above, to detect material misstatements in respect of Iegular1ties, induding frzud Is detailed below: Extent to which the audlt was consldered capable of detethng fraud In identifyirKJ and assessing risk5 of materlal mlsstatement in respect of Irregularittes, InclLK11ng fraud and non- compliance with laws and regulations, we considered the followlng: The nature of the industry and sector, control environment and business perfomiantr Includlng targets for income and net profit,. Results of our enquiries of management and the trustees about their own identification and assessment of the risks of Irregularlttes. Any matters we identlfied havlng obtained and revIewl the company's documentatEon of their policies and proCedUS relatlng to,. Identifyingi evalualing and complylng wlth laws and regulatlons and whether they were aware of any Instances of non-compllance, Including any related to the General Data Protectlon Regulatlons or Brlbery Act 2010. Detethng and respondlng to the rlsks of fraLKI and whether they have knowledge of any actual, suspected or alleged The internal controls to mitigate rlsks of fraud or non-compllance with laws and regulatlons. The matter5 discussed among the audlt engagement team 5nclude how and where fraud mlght occur In the flnanclal ststements and any wtential indlcators of fraud. Page 10
Remar Association (UK) Independent Auditor's Report to the Members and Trustees of Remar Association (UK) - continued As a result of these pr0dureS, we considered the opportunltles and incenttves that may exist wlthln the charlty for fraud and identifled the greatest potentlal for fraud in the abillty of management to manipulate revenue recognition. In common wlth all audits under ISAS (UK), we are also required to perform specific prOdureS to respond to the rlsk of management overrlde. We also obtalned an understandlng of the legal and regulatory frameworks that the charity operates In, focusing on provlsions of those laws and regulatlons that had a dlrect effect on the determlnatlon of material amounts and d5sclosures in the finanaal statements. The key law5 and regulatlons we consldered In thls context Included In Sectlon 44(Ic) of the CrItieS and Trusts Investment (Scotland) Act 2005 the Companles Act 2006 and the Flnanclal Reportlng Standard 102. In additlon, we consldered provisions of other laws and regulatlons that do not have a dlr eff* on the flnancial statements but compliance with which may be fundamental to the company's ability to operate or to avold a material penalty. These include Ihe General Data Protedion Regulations, the Bribery Att 2010 and Health and Safety wllaes. Audlt Response to Rlsks Identlfied Our prOdureS to respond to risks Identlfled above Include the followlng: Reviewing the finandal statements dlsclosures and testlng to supwrtlng documentstion to assess Complian with provisions of relevant laws and regulattons descrlbed as hang a dlrect effect on the flnanclal statements: Ertquiring of management and directors concerning actual and potential litjgatton and daims. Obtalnlng third party confirmation of material bank balar5. Documentlng and verlfylng all slgnlficant rElated party balan$ and transaLtions' Performing analytlcal prOdureS to Identlfy any unusual or unexpthd relationships that may indicate risks of material misstatement due to fraud. Re8dlng minutes to meetings of those tharged wlth governan and revlewlng relevant Corresponden from regulatory bodies. In addressing the fraud risk in revenue recognition we have tested a sample of revenue recorded in the year through agreement to the relevant documentation and bank statements. Additionallyi at an analytical review level, we developed an expectation of the revenue with referen to our experien of the client and dlscussions on the recognltlon and volatlllty of revenue In the year; and In addresslng the rlsk of fraud through management overrlde of controls, tesLlng the approprlateness of journal entrles and other adjustments. assessing whether the Judgements made In maklng accountlng estimates are indicative of a potential bias; and evaluatlng the buslness ratlonale of any slgnlflcant transactions that are unusual or outside the normal course of business. We also communlcated relevant identified laws arKI regulations and potential fraud risks to all engagement team members and remaln alert to any indications of fraud or non-c0mp1lan wlth laws and regulatlons throughout the audlL Because of the Inherent limltatlons of an audit, there is a risk that we will not detect all irregularities, including those leadlng to a materlal mlsststement In the financial ststements or non-complian wlth regulatlon. This risk increases the more that complIan with a law or regulatlon Is removed from the events and transactions refletted in the flnanaal statements, as we wlll be less Ilkely to become aware of Instarices of ncn-ccmpl1an. The rlsk is also greater regarding irgu]aritieS ocrring due to fraud rather than error, as fraud Involves intentlonal Conalment, forgery, collusion, omission or misrepresentstion. Page 11
Remar Association (UK) Independent Auditor's Report to the Members and Trustees of Remar Association (UK) - contlnued A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.fr auditorsres nsibli This description forms part of our Report of Auditors. Use of our report This report is made solely to the charitable company's members, as a bcKly, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable companfs trustees, as a body, in accordan with Regulation 10 of the Charities Accounts (Scouand) Regulations 2006. Our audit work has been urmyertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume reskKJnsibility to anyone other than the charitable company, the charitable companls members as a body and the charitable company's trustees as a bodyi for our audit work, for this report, or for the opinions we have formed. Neil Higgins FCCA (Senlor Statutory Auditor) for and on behalf of Mabe Allen LLP Chartered Accountants statutory Auditors 50 Osmaston Road Derby DEI 2HU Date: Mabe Allen LLP is eligible to act as an auditor in terms of *ttion 1212 of the Companies Att 2006. Page 12
Remar Assoclatlon (UK) Consolldated Statement of Financial Actlvltles (Xncludlng Income and Expendlture Account) for the Year Ended 31 March 2024 Unrestslcted fund Resblcted Total funds Total funds fund 2024 2023 Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitsble activities Investments Other 74,371 837,044 750 74,371 837,044 750 88,676 836,840 750 Total EXPENDrruRE ON Ralslng fvnds Charltable actlvltles Resettlement and Care Expendlture Donations to Other OrganiSaonS Primary Purpose Trading costs 151,218 57,060 151,218 57,060 203,059 91,770 Total 42 NET (EXPENDrruRE)IXNCOME (30,358) (30,358) (78,344) RECONCILIATION OF FUNDS Total funds brought fonmard 583,057 583,057 661,401 TOTAL FUNDS CARRIED FORWARD 552 699 552 699 CONTINUING OPERATIONS All Income and expenditure ha5 arisen from contlnulng actlvltles. The annexed notes form part of these flnanclal statements Page 13
Remar Associatlon (UK) {reglstered number: 02701445) Consolidated Balance Sheet At 31 March 2024 Unrestrlcted fund Restrlcted Totsl funds Total funds fund 20 2023 Notes FIXED ASSErs Tanglble assets 13 CURRENT ASSErs Sb)cks Debtors Cash at bank and in hand 15 16 262,968 23,017 262,968 23,017 200,771 39,960 295,480 295,480 254,822 CREDrroRS Amounts falllng due wh1n one year 17 211,841 211,841 156,042 NET CURRENT ASSErs 83,639 TOTAL ASSETS LESS CURRENT LIABIUTIES 878,704 878,704 92Q,255 CREDITORS Amounts falling due after more than one year 18 326,005 326,005 337,198 NET ASSETS 552 699 552,699 583 057 FUNDS Unrestricted funds Restrlcted funds 22 552,699 583,057 TOTAL FUNDS 552,699 583,057 These financlal statements have LEen prepared In accordan wtth the spea'al provisions of Part 15 of the Companies Act 20Q6 relating to small charitable companies. The financial ststements vvere approved by the Board of Trustees on ......!11.It/.Lo24 and were signed on its behalf by.. G W Harvey -Trustee The annexed notes form part of these financlal statements Page 14
Remar Assoclatlon (UK) (Registered number: 02701445) Company Balance Sheet At 31 March 2024 2024 2023 Notes FIXED ASSETS Tangible assets Investments 13 14 794,635 820,969 794,637 820,971 CURRENT ASSErs stocks Debtors Cash at bank and in hand 15 16 57,537 101,036 93 164,507 48,460 96,118 82 155,406 CREDrroRS Amounts falling due within one year 17 NEf CURRENT ASSETS TOTAL ASSEfs LESS CURRENT LIABILrriES 875,015 916,490 CREDrroRS Amounts falllng due after more than one year 18 326,005 337,198 NET ASSErs 579,292 RESERVES Unrestricte¢ Funds 549 010 29 579 292 The financial statements have been prepared In accordance with the provisions of Part 15 of the Companles Att 2006 relating to small companies. The financial statements were approved by the Board of Trustees on . ..Ig/1.2J.2yi.Y.. and We slgned on its behalf by: G W Harvey Trustee The annexed notes form part of these financlal statements Page 15
Remar Assoclatlon (UK) Consolidated Cash Flow Statement for the Year Ended 31 March 2024 2024 2023 Notes Cash flows from operating activities: Cash generated from / (used in) operations Loan Interest paid Interest element of hire purchase and finance lease rental payments 52,129 (30,603) 16,582 (24,731) Net cash (used In)Iprovlded by operatlng activities 11004) Cash flow$ from Investlng aclivitieg: Purchase of tangible fixed assets Sale of tanglble fixed assets (21,390) Net cash (used in) investlng actlvStles Cash flows from flnanclng activities: Loan repayments In year Capltal repayments in year Receipts from government grants Receipts from other grants (14,970) (6,345) (18,745) (20,626) Net cash (used In)/provided by financing actlvitles 10 310) Change In cash and cash equivalents in the reporting period (10,723) (34,875) sh and cash equivalents at the beglnning of the reportlng period 10,937 45,812 Cash and cash equivalents at the end of the reporting period The annexed notes ft)rm part of these finanaal statements Page 16
Remar Association (UK) Notes to the Consolldated Cash Flow Statement for the Year Ended 31 March 2024 RECONCIUATION OF NET (EXPENDITURE}IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net (expendlture)Ilncome for the reportlng perlod (as per the statement of financial activities) Adjustments for: Depreciatlon charges (Profit) on disposal of fixed assets Government grants Other grants Loan interest paid Interest element of hire purthase and finance lease rental payments (Increase)/decrea* In stocks (30,358) (78,344) 47,801 54,939 (11,005) 30,603 549 (15,500) 24,731 2,855 (62,197) 16,943 (10,040) (8,654) (Inci'ease)/decrease In debtors Increase In CTedltors Net cash provlded l (used) by operatlng actlvlties ANALYSIS OF CASH AND CASH EQUIVALENTS The amount dlsclosed In the Cash Flow Statement In respect of cash and cash eoulvalent are In respect of these Balan Sheet amounts: 2024 2023 Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year 6,577 2,917 5,553 8,538 Total cash and cash equlvalents 214 ANALYSIS OF CHANGES IN NET DEBT At 31.3.23 Cashflow At 31.3.24 Net Cash Cash at nk and in hand 214 Debt Finance leases Debtors falling éue wlthln l year Debtors falllng due after l year (5,496) (18,746) 5,496 3,776 (14,970) Total The annexed notes form part of these financial statements Page 17
Remar A550ciation (UK) Notes to the Flnanaal Ststements for the Year Ended 31 March 2024 ACCOUNTING POLICIES The signlflcant accountlng pollcles applled In the preparatlon of these flnanclal statements are set out below. These policies have bn conslstently applled to all years presented unless otherwlse stated. Basls of preparlng the financlal statements Remar Association (UK) is a public benefit entity as defined under Financial Reporting Standard 102. The financial sLBtements have bn prepared in acconlantr with The Q)mpanies Act 2006, the Charfties Act 2022, the Charities and Trustees Investment (Scot'land) Att 2005 and the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS102) and Accounting and Reporting by Charities: Statement of Recommended Practt applicable to charltles preparing thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland (FRS 102) (effectlve l Janry 2019) The flnanclal statements are presented In sterllng whlch Is the functlonal currency of the charity and rounded to the nearest pound. The financlal ststements are prepar on a going Colirn S15 under the historical cost conventlon, modlfled to Include trrtain items at fair value. Going Concern The Trustees have prepared the financial statements on the going concerri basis which assumes that the group and the Charitable CoMnY will continue to trade for the foresable future. The valldity of the assumption Is based on the Trustees, assessment of future cash forecasts, revenue projections and for the reasons set out below. Cost of living crisis and economic uncertainty in the UK As at the date of approvlng these flnanclal statements, the Impacts of the cost-of-living crisls on the group s tradlng activlty Is contlnually belng ass&5sed and subjett to revlew. The current economlc cllmate in the UK has placed straln on the group s cash flow and on the finantrs of the general publlc whlch could Ilmlt thelr ablllty to spend on home Improvements. Our"base case assumptlon Is that all of the groups, premises will remain open Into the fLrture. In assesslng the group's fundlng requlrements, the Trusteas have prepared projections which consider the Impacts on revenue given the volattlity and UlirtaInty on retail acttvity. Flairing assessed the current trading Performan and future prospects, the Trustees have conduded that both the group and the parent charitable company have sufficient resources to contlnue In Operaonal exlstence for the foreseeable future. Furthermore, there are no material UnrAleS In relation to golng COnrn. Accoi'dingly, they continue to adopt the going concern basls in preparing the firnCIal statements. The financlal statements therefore do not Include any adjustments that would arlse If the going concern basis of preparatlon were Inappropriate. Basis of Consolldatlon Consolidated Financial Statements have b&n pi'epared In respect of the Charitable Company and Its wholly owned subsidiaryi Remar UK Limited In accordance wlth section 398 of the Companies Act 2006 and the requirements of the SORP 2019 (FRS 102). The Irome and expendlture of Remar UK Limited have been consolidated into the Statement of Finanaal Activities (SCIFA) on a line by line basis. No separate Ststement of Flnandal Attlvltles (SOFA) has been presented for the Parent charlty alone as permltted by section 4D8 of the Companies Act 2006. Company Ststus The Charlty Is a prlvate Company Limited by Guarantee, registered In England and Wales. The members of the Company are the Trustees named on page 5. In the event of the Charity being wound Upi the liability in respect of the guarantee is limited to £1 per meryiber of the Charlty. Page 18
Remar Association (UK) Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - contlnued Critical accounting judgements and key sources of estimation uncertainty llTr preparation of the financial ststements requlres management to makejudgments, esttmates and assumptions that affect the amounts reported for assets and liabllltles as at Ihe balance sht date and the amounts reported for revenues and expenses durlng the year. However, the nature of e5Umatlon means that actual outcomes could dlffer from those eslimates, The followlng Judgements have had the most signiflcant effect on amounts recognis In the flnanclal statements:. Valuatlon of stock The tru>cees revlew management's judgements in assessing the require£l level of stock and prOS1on1ng and concluded that the method of estimating the carrying value of stock remains appropriate, and that the level of provlslonlng is approprlate, Income All income is recognlsed In the St'atement of Flnanclal Actlvltles or)tr the charlty has entJlJement to the funds, It Is probable that the income wlll be recelved and the amount can be measured rellably. For donations to be reccgnised the charity will have been notlfled of the amounts and the Settlement date In *• writing. If there are conditions attached to the donation and thls requlres a level of perforrnan before entittement can be obtalned then inccme is deferred until those conditions are fully met or the fulfilment of those condltlons Is wlthln the control of the charity and it is probable that they will be fulfilled. Donated facillties and donated professlonal servi5 are recognised in income at their fair value when thelr economlc beneflt Is probable, It can be measured reliably and the charity has contrcl over the item, Fair value is determined on the basls of the value of the glft to the charlty. For example the amount the tharity would be willing to pay in the open market for such faclliljes and servlces. A correspondlng amount Is recognised in expenditure No amount is included in the financial statements for volunteer time in Ilne wlth the SORP (FRS 102). Further detsll Is glven In the Trustees, knnual Report. Where prattlcable, glfts In kind donated for distribution to the beneficlaries of the charity are Induded In stock and donations In the financial statements upon receipt. If it is impracticable to assess the fair value at recelpt or If the costs to undertake such a valuatlon Oue1gh any benefits, then the fair value is recognised as a component of donatlons when It Is dlstributed and an equlvalent amount recognlsed as charltable expenditure. Page 19
Remar Associatlon (UK) Notss to the Flnanclal Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Income - continued Gifts in kind donated for resale are included at fair value, being the expected preedS from sale less the costs of sale. Where estimating the fair value is practicable upon reIpt it Is recognised in stoc& Upon sale, the value of the stock Is charged against 'Income from primary purpose trading, and the proceeds are recognised as 'Income from primary purpose tradlng,. Where11 Is impractlcable to fair value the items due to the volume of low value Items, they are not recognised in the flnanclal ststements unttl they are sold. Thls Income is recognlsed wlthin 'Income from primary purposes trading,. Income from prlmary purpose tradlng Includes Income earned by the tradlng subsidlaw in undertaklng trading aCtitIeS whlch asslst in the reintegration Into soclety of the chartty beneflclaries and to raise funds for the charlty. Income Is recelved in exchange for supplying goods and ServIS in order to ralse funds and meet the objectlves of the charity and Is reixsgnlsed when entlllement has occurred. Income from grants is recognised at fair value when the charity has entitlement after any performance conditlons have been tnet, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Expendlture Uabilities are recognlsed as expendlture as soon as there is a legal or constructlve obllgatlon committing the charity t'o that expenditure, It is probable that a transfer of economlc beneflts will be requlred in settlement and the amount of the obllgatton can be measured rellably. Expendlture is accoLSnted for on an accruals basls and has been classified under headlngs that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headlngs they have been allocated to actlvltles on a basls conslstent wlth the use of sources. Expendituff is categorized under the following headlngs: Costs of ralsing ftjnds includes the costs of contracbng with agents to raise ftjnds cn behalf of the charity. Expendlture on charltable actlvltles includes costs of resettlement and care, donatlons to other Remar Orqanlzatlons and prlmary purwse trndlng ccsts. Irrecoverable VAT15 charged as an expense agalnst the activlty for which the expenditure arose. Grants payable to third parties are wlthin the charltable obJectlves. Where unconditional grants are offered, this is accrued as soon as the reiipient is notified of the granL as this gives rise to a reasonable expertation that the recipient will receive the grants. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expendlture. The grant is only accrued when any unfulfilled condltlons are outside of the control of the charity, Tangible fixed assets Depreclatlon Is provlded at the following annual rates In order to wrfte off each asset over its estimated useful life or, If held under a finance lease, over the lease temi, whichever Is the shorter. Freehold property Improvements to property xtures and fittings Motor vehlcles -2% oncost Over perlod of lease 150/0 on reduclng balan 250/0 on reducing balance Tanglble flxed assets are initlally measured at cost and subsequently measur&J at cost or valuatlon, net of depreclatlon and any Impairment105ses. Page 20
Remar Association (UK) Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES . contlnued Tanglble flxed asset$ - contlnued The galn or loss arlslng on the dlsrKJsal of an asset Is determined as the dIfferen betw&n the sale predS and the carrying value of the assets, and is credited or charged to profit and loss. At each reportlng perlod end date, the company revlews the carrying amounts of Its tanglble and Intsnglble assets to determlne whether there Is any Indlcation that those assets have suffered an Impairment loss. If any such indication exists, the recoverable amount of the asset is estimated In order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the r0Verable amount of an Indlvldual asset, the company estlmates the recoverable amount of the cash4Jeneratlng untt to whlcli the asset belongs. Recoverable amount is the hlgher of falr value less costs to sell and value In use. In assessing value In use, the estlmated future cash flows are dlscounted to thelr present value uslng a pre-tax dlscount rate that reflects current market assessments of the tlme value of money and the rlsks speclflc to the asset for which the estimates of fure cash flows have not been adjusted. If the r0Verable amount of an asset (or cash-generatlng unlt) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is redUd to its recoverable amount. An impairment loss is recagnised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in whlch case the 1m1rment loss is treated as a revaluation decrease. Stocks Stoc1 are stated at the lower of cost and esttmated selling prlce less costs to complete and sell. Cost Includes all costs of purchase, costs of converslon and other costs Incurred In brfnglng stock to Its present locatlon and condltlon. Cost Is calculated uslng the flrst-ln, tlrst-out formula. Pmvlslon Is made for damaged, obsolete and slow-movlng stock where approprlate. Donated stocks are falr vdlued as described In 'Income' above. Taxation The charity Is an exempt charity within the meaning of schedLile 3 of the Charltles Act 2011 and Is consldered to pess the tests set out in Paragraph I Schedule 6 Act 2010 and therefore It meets the definltlon of a charltable company for UK corporation tsx purposes. Hire purchase and leasing commltments Assets acqulred under fInan leases are Gipltallsed and depreciated over the shorter of tlie lease term and the expected useful life of the asset. Minimum lease payments are apporboned btheen the finance charge and the redudion of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in credito. Donated goods Donated stocks are falr valued as described under the Income Recognition Sectlon above, The only exceptlon to this accounting pollcy Is where the trustees ccnsider It impractlcal to falr value the gifts in kind donated for resale because of the volume of low value Items received and where there Is an absence of detailed stod( control systems or records, Page 21
Remar Assoclatlon (UK) Notes to the Financlal Statements . contlnued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Fund accounting General funds are unrestrlcted funds whlch can be used in accordance with the charltable objectives at the discretion of the trustees and which have not been designated for other purposes. Deslgnated funds comprise unrestricted funds that have been set aside by the Trustses for particular purposes. The alm and use of eath designated fund is set out in the notes to the Financial Statements. Restricted funds can only be used for partlcular restrlcted purposes wlthln the objects of the tharlty. Restrlctlons arlse when speclfied by the donor or when funds are ralsed for partlcular restrlcted purposes. The cost of ralslng and admlnlsterlng such funds are tharged agalnst the speclfic fund. Further explanatlon of the nare and purpose of each fundls Included In the notes to the financial statements, Foreign currencles Foreign currency transactions are inltlally recognlsed by applylng trj the foreign currency amount the spot exchange rate between the functional currency 2nd the forelgn currency at the date of the transaction, Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated at the doslng rats. Investment In subsldlarles Investments in subsidlary undertal(Ings aiE recognlsed at cost. Fund ralslng costs Fundraising costs are those Incurred In seeklng voluntary contrjbutions and do not include the costs of disseminating information in support of the charltable actlvltte5. Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated Interest rate and re1vable or payable within one year are recorded at transactlon prlce. Any losses arising from impairTnent are rec(yJnised In expendlture. Loans and borrowlngs Loans and bormwings are Inltlally recognl*d at the transactyon pr1 Includlng transathon costs. Subsequently, they are measured at amortised cost using the effectlve interest rate method, less Impalrment. If an arrangement constitutes a finan transactlon It Is measured at present value. Cash and cash equivalents Cash and cash equlvalents Include cash In hand, deposits held at call wlth banks, other short-term Ilquld Investments with original maturities of thr& months or less, and bank overdrafts. Impalrment Assets not measureé at falr value are revlewed for any Indlcatlon that the asset may be impaired at each balan sheet date. If such Indlcation exists, the recoverable amount of the asset, or the asset's cash generating unlt, Is estlmated and compared to the carrylng amounL Where the carrylng amount extreds its recoverable amount, an Impairment 1055 is recognised In proflt or loss unless the asset Is carried at a revalued amount where the impairment loss Is a revaluatlon decrease. Provisions Provisions aff rnISed when the charity has an obligation at the balan sheet date as a result of a past event, It is probable that an outflow of economic benefits will be required in ttlement and the amount can be reliably estlmated. Page 22
Remar Association (UK) Notes to the Flnanclal Statements . contlnued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES Restricted Funds Unrestrlcted Funds Total Funds 2024 Donatlons.. Lidl Hygiene poverty fund Lidl beaffs toy bank Marsh Charltable Trust The Flfty Fund The Jones 1986 Charitable Trust Chrlstadelphlan Samarltan fund Donated Food for DlstrlbLFtlon - Fareshare Souter Charitable Trust Indlvlduals 250 555 500 1,200 5,000 500 35,360 3,000 250 555 500 1,200 5,000 500 35,360 3,000 Restricted Funds Unrestricted Funds Total Funds 2023 Donations: The DCI Trust LIDL Communlty Kltchen Fund B & Q Property Improvement Fund The Jones 1986 CharStable Trust Donated Food for Distrlbutlon - Fareshare Indlviduals 1,000 1,000 5,500 10,000 3,000 53,163 5,500 10,000 3,000 53,163 Donations and legacies in 2023 were aLtributable to both restricted and unrests1cted funds. CHARrrABLE AcrxvriiES 2024 2023 primary Purpose Trading - Shop Income INCOME FROM INVEsfMENTS 2024 2023 Rental Income Income from Investments was attrlbutable to unrestrlcted funds. Page 23
Remar Assoclatlon (UK) Notes to the Financial Statements - continued for the Year Ended 31 March 2024 OTHER INCOME 2024 2023 Insurance Claim Other income was attributable to unrestricted funds, RAISING FUNDS Ralslng dOnaon5 and legacles 2024 2023 Support costs Costs of raislng funds Includas consultancy f5 to raise funds on behalf of the charlty. GRANTS PAYABLE 2024 2023 Donatlons to organlsatlons The total grants paid to instituljons during the year was as follows. 2023 2022 Remar- Spain Remar- India Remar- Germany Gift Africa 54,900 1,980 87,400 1,210 1,000 The charity has awarded grants to a number of institutions in furtherance of Its charltable actlvltles. Contrlbutlons made to other Remar Organizatlons are towards the purthase and runnlng costs of t f]rst phase and second phase drug rehabilitstion ntreS (see Trustees, Report). Reclplents of grants to Institutions: The reapients of grants in the current year and previous year and the use to whlth the grants were put are as follows: Gift Africa - asslst wlth Rehabllltation Centre costs (2022: Assist with Rehabilitation Centre). Remar Spain- For ntral allocation and distribution to other Remar organisations. Remar India - Assist with expenditure on orphanage. Remar Germany - Assist with Remar SOS Projerts in Turkey, Page 24
Remar Agsoclatlon {UlQ Nrtes to the Financial Statemonts- torttinueAI for the Year Ended 31 Marth 2024 TOTAL RESOURCES EXPENDED Eqil•olAllucaYr K¢SettMIn DDThlloTh¥20 titknrRoMDv Pilmry 1024Totsl EKp•ndlliira ¢05L¥ dlr4cltyal)tr •ctivili Feod Puthseg and Cavthge COMM51 Pald to Remai DtrÈtt Dtrett Dtrett 38,rJ5 3B,735 254,894 15.676 59,976 317b79 12A90 2Y094 IS76 Ilrant of ALtivitie& DtionS Dect 57,060 ¥f,06D 91,770 Sypptrrt A110¢¥4ted t4 A¢tlvthi Rent Water ratss Insu Heat and Lbht RatB5._ Ilon Domstlc urKiI Tax Tephe Fljblldty, Prlntsng bnd Sl0n ver1 N(orand TravdNtKJ Ewse5 Repalr5and Ren8wa15 &Jndr Audltand A(Lwntst Comnl&slon Pald m S¥les IBJal and Profewal Fees B&nk Chèroesand IiiLerest Bank Lo3Th 0e9 and Inthtt Hlre PurdEand Charge Depredatrn .Land and lkjg5 -SeId Imryovements -R¥ture5 EqulwEnt -motor Vthde4 169,886 3,155 35,465 32243 5,799 3,670 568 169,8B6 3,780 35,465 43fi29 5,799 10,356 9,E52 1,307 150,455 Dlrett rect tyrect rett 625 31034 32 11,386 rne aprl.nment Olre£t Dirert ntno aprtIDfflent Dlrect Dtrt Dtrect rect Dkert Diert Dkert DErt 11040 436 ,199 4,7Z3 133 83TIg 70,119 365 88,978 74042 499 28,794 15,689 105P26 29SY3 1,335 26&5 10,745 4,615 6359 24,731 2,&55 28,794 15,6 8230 8J30 30,603 549 30,603 549 Drert Dtre Dkecl Dtrecl 2L435 663 21A75 336 I,7 22,2 21,475 1,973 1673 22 7,249 15.403 30,687 Page 25
Remar Association (UK) Notes to the Financial Statements - continued for the Year Ended 31 March 2024 NET INCOMEI(EXPENDITURE) Net Income/(expendlture) Is ststed after charglngl(credltlng): 2024 2023 Auditors, remuneratlon The auditlng of accounts of any assoclats of the charfty Depredation - owned assets Depredatlon - assets on hlre purchase contracts and finance leases (Profit) on disposal of fixed a$5et 22,116 6,678 37,553 10,248 22,935 3,600 40,79Q 14,149 10. TRUSTEES, AND KEY MANAGEMENT PERSONNEL REMUNERATION AND BENEFITS There were no trust5, remuneratlon or other beneflts for the year endal 31 March 2024 nor for the year ended 31 March 2023. Mr J Munt, the charity's general manager is a member of the key management FErsonnel. Mr Munt and his family reside in a fffthold property withln the Remar Community with other benefiaaries of the charity. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 or ft)r the year ende.d 31 March 2023. 11. COMPARATIVES FOR THE sfATEMEwf OF FINANCIAL ACTIVITIES Unrestrlcted fund Restricted Total funds lund INCOME AND ENDOWMENTS FROM Donations and legacies 73,176 15,500 88,676 Other tradlng actlvittes Investsments other 836,840 750 836,840 750 Total 910 766 EXPENDITURE ON Raising Funds Charitable activitie5 Resettlement and Care Expenditure Donations to other organisations Prlmary FXJrpo* Tradlng Costs 187,559 91,770 15,500 203,059 91,770 70 Total EXPENDITURE (78,344) (78,344) RECONCILIATION OF FUNDS Total funds brought fonNard 661401 661401 TOTAL FUNDS CARRIED FORWARD Page 26
Remar Assoa"ation (UK) Notes to the Financial Ststements - continued for the Year Ended 31 March 2024 12. STAFF COSTS There were m staff costs durfng the year (2023: NIL) and no employees with emoluments abave £60,000. The charlty depends on volunteers and rehabllltated benefldarles to undertake the worf( of the charity. 13. TANGIBLE FIXED ASSErs Freehold Improvements property to propeity Fixtures and fittings Motor vehicles A) GROUP Totals cosr At l Aprll 2023 Addltlons Disposals 1,073,758 31,373 17,040 32,209 4,350 232,910 1,374,227 21,390 At 31 March 2024 1073 758 232 910 1395 617 DEPRECIATION At l Aprll 2023 Charge for year Ellmlnated on dlsposal 331,172 21,475 16,911 2,336 27,645 1,337 173,047 22,652 552,752 47,800 At 31 March 2024 331172 NEf BOOK VALUE At 31 March 2024 At 31 March 2023 742 B) THE CHARrrY Freehold Improvements Fixtures aiid property to property fltljngs Motor vehlcle$ Totsls At l Aprll 2Q23 Additions Dlsposals At 31 March 2024 1,073,758 31,373 17,040 28,980 4,350 232,910 1,370,998 21,390 413 232 1393 388 DEPRECIATION At l April 2023 Charge for year El[mInatl on disposal 331,172 21,475 16,911 2,336 24,922 1,261 173,047 22,S52 550,029 47,725 At 31 March 2024 352 647 597 754 NET BOOKVALUE At 31 March 2024 At 31 March 2023 Page 27
Remar Assoclatlon (UK) Notes to the Flnandal Statements - contlnued for the Year Ended 31 March 2024 13. TANGIBLE FIXED ASSETS- contlnued Fixed assets, Induded In the atK)ve, whlch are held under hlre purchase contracts are as follows., Group and Charlty Motor vehicles COST At l Aprll 2023 Additlans Dlsposal Transfer to Ownershlp 56,595 At 31 March 2024 DEPRECIATION At l April 2023 Charge for year EllIMinated on Disposal Transfer to OWnehIp 46,347 10,248 56,595 At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 14. FIXED ASSET JNVEsfMENTS Shares In group undertakings MARKET VALUE At l April 2023 and 31 March 2024 NET BOOKVALUE At 31 March 2024 At 31 March 2023 There were no Investment assets outside the UK. The companvs investments at the balance sheet date In the share (2pltsl of companles Indude the follow]ng: Remar UK Limlted (Reglstsred Number 02861819) Registered offi. 845-847 High Road, Leytonstone, London Ell IHH Nature of business.. Shops trading in the sale of furnlture Page 28
Remar Assoclatlon (UK) Notss to the Financial Statements - cOnnUed for the Year Ended 31 March 2024 14. FIXED ASSET INVESTMENTS - continued Class of share: 2 Ordfiry shares of £1 each holding loo 2024, 2023 Aggregate capltal and reserves Proflt l (loss) for the year 3,691 3,767 Relevant flnanclal Informatlon regardlng Remar UK Llmlted Is as follows.. 2024 2023 Turnover Cost of Sales Gross Profit store Costs Net (Loss)IProfit Before Taxation Corporation Tax Net Proflt After Taxatlon Glft AEd dlstrlbutlons to Remar AssocSatlon (UK) Net Ouffiow from Subsldlary 445,755 295 336 J.50,419 112 857 37,562 465,261 345 461 119,800 35,494 37,562 35,494 15. STOCKS The Group 2024 The Charity 2023 2023 2024 Goods for R&sale All stod< Is held for prlmary purpose trading. 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR The Group 2024 The Charlty 2024 2023 2023 Ambunts Owed by Group Undertang5 other Debtors Prepayments Trade Debtors 78,019 11,638 11,379 70,210 11,638 11,379 25,908 25,908 Page 29
Remar Assodats"on (UK) Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2024 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR The Group 2024 The Charity 2024 2023 2023 Bank Loans and Overdrafts Trade Creditors Taxation and &clal Securlty Obllgatlons Relatlng to Finance Leases and Hlre Purchase Contracts other Credltors and Accruals 24,250 78,388 29,971 21,900 84,559 8,668 14,970 18,746 9,913 4,882 5,496 5,496 CREDrroRS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group and Charity 2024 2023 Amounts falllng due after one year". Bank loans (see note 19) Obligations Relallng to FInan. Leases and Hire Purchase (])ntrdtts 326,005 337,198 LOANS Group and Charlty 2024 2023 An analysls of Lhe maturity of loans Is glven below: Amounts falling due wlthln one year on demand.. Bank overdrafts Bank loans 9,280 3,154 25 Amounts falling between one and t0 years.. Bank loans - 1-2 years Amounts falllng due beeen two and five years.. Bank loans 2-J years Amounts falllng due In more than five years.. Repayable by Instalments: Bank loans due in more than 5 years by instalment Page 30
Remar Assoclatlon (UK) Not&4 to the Financial Statements - continued for the Year Ended 31 March 2024 20. LEASING AGREEMENTS Group and Charlty Hlre purchase contracts 2024 2023 Net obllgatlons repayable: wthln one year Between one and flve years 5,496 Minimum lease payments under nOn-CanlIable operatlng leases fall due as follows,. 2024 2023 withln one year Between one and five years More than flve years 49,400 84,633 166 433 21. SECURED DEBTS The followlng *cured debts are included wlthln credltors: 2024 2023 Bank ovp.rdrafts Bank loans 340 975 340 975 355 944 Bank loans and overérafts are secured agalnst the freehold property of the parent charitable company. 22. MOVEMENT IN FUNDS Net movement in funds At 1.4.23 At 31.3.24 Unrestricted funds General fund 583,057 (30,358) 552,699 TOTAL FUNDS 583 057 30 358) 552 699 Page 31
Remar Association (UK) Notes to the Financial Ststements - continued for the Year Ended 31 March 2024 22. MOVEMENT IN FUNDS. continued Net movement In ftjnds, Included In the abjve are as follows: Incoming resources Resources expended Movement In funds Unrestrlcted funds General fund 912 165 TOTAL FUNDS At 1.4.22 Net movement in fund5 At 31.3.23 Unrestricted funds General fund 66 TOTAL FUNDS s57 Incomlng resources Resour éxpend Movement in funds Unrestricted funds General nd Restricted Fund Lidl Community Kitchen fund B & Q Foundation fund 910 766 989 110 5,500 5,500 TOTAL FUNDS General fund represents the general ndS of tharlty, whlch are not designed for partlcular purpo*s. 23. Analysis of Group Net Assets Between Funds General Funds Designated Funds Total Fund BalanS at 31 March 2024 are Represented by:" Tanglble Flxed Assets Current Assets Current Llabllltfes Long Term Llabllltles 795,065 295,480 (211,841) 326 005 795,065 295,480 (211,841) 326 005 Page 32
Remar Assoclatlon (UK) Notes to the Hnanaal Ststements- continued for the Year Ended 31 March 2024 24. RELATED PARTY DISCLOSURES During the trading year the trading subsidiary paid £21,000 (2023: £21,000) for the rental of warehouse spa to a company, in which one of the trustees, Mr G Harvey, is a director. The company benefited from the rental transaction, which was paid at less than the normal market rate. The trading subsldlary pald for purchases and comrnlsslon amountlng to £76,949 (2023: £69,831) to another relat& party subjett to Jolnt control or slgnlficant influence over the company. As at 31 March 2024 there remaln& £59,811 (2023.. £84,559) due to thls othei. entity. The tradIj subsldlary has not made any sales of goods to another related party subject to joint control or slgnlflcant Influence over the company (2023.. £17,052), During the year, the charlty has not recelved donatlons from Mr l Munt, the general manager of Remar A550aation (UK) and a member of the key management personnel (2023: £6,083). 25. EX-GRATXA PAYMENTS No ex-gratia payments have been made in the cUrnt year (2023: £nil). The amount In the prlor year related to risk management ServIS undertdken on behalf of the charlty. 26. OTHER FINANCIAL COMP41TMEwfs At the year end the company has financlal commltrnents amountlng to £nil (2023: £nil). 27. ULTIMATE CONTROLLING PARTY The Trustees are responslble for the overall management and control of the Charity. CONTNGENT ASSETS The Charlty has been the reclplent of a legacy on the settEement of an estate. The estate has an esLlmaled value to the tharlty of £203,207 followlng the settlement of any Ilabilitles. There Is a degree of UnrtaInty whether the settlement of the estste will be subject to challenge whlch may Impart on the expected receipt and valuatlon of the legacy for the charlty. Due to thls UnrtaInty, no pmvlsions for the asset has been ryiade within the flnandal statements, Page 33
Remar Association (UK) Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 2023 INCOME AND ENDOWMEKrs Donatlons and legacles Donations Government grants other grants 55,355 73,176 11,005 15,500 other trading activlties Shop income 837,044 836,840 Xnvestments Rent re1V 750 750 Other Income Insurantr dalm Wayleave Income 8,011 Total Incomlng resources EXPENDrruRE Raising Funds Fundraising Costs Charltsble actlvltles Food Grants to InstituOons 38,735 57,060 59,976 91,770 Support costs Management Rates and water Insuran ght and heat Telephone Pestage and statlonery Advertislng Sundries Repairs and newaIS Rent Purchases and carriage Commlsslon paid to Remar Spaln Commission paid on leS Motor and travelllng Legal fees Depredation - Frhold property - Improvements to property Fixtures and fitbngs - Motor vehides Carrled forward Ig,935 35,465 43,629 9,852 1,307 29,251 31,034 32,613 11,040 499 74,842 169,886 254,894 15,676 15,689 88,978 1,335 29,763 150,455 317,679 12,690 10,745 105,826 4,615 21,475 1,973 21,475 2,336 1,337 778,452 792,384 Page 34
Remar Assoclatlon (UK) Detslled Statement of Financial ActivFtI&8 for the Year Ended 31 March 2024 2024 2023 Management Brought forward Proflt on Disposal Bank Interest and charges Bank loan interest Hire purchase 778,452 792,384 8,330 30,603 549 6,359 24,731 817 826 329 Govemance costs Audltors, remuneration Auditors, remuneration for non audlt work 28,794 26,535 Total resources expended 942,523 1,004,610 Net (expeiiditure)Ilncome Page 35