Docu8ign Envelope ID.. 6904C3234IFA44A7D-BBF2-884D16865E77 REGISTERED COMPANY III'MBER.. 02701126 (Engl4nd aDd Wales) REGISTERED CHARfTY mBER. 10111166 Rei)ort of the Trustee5 rted F]mJaL&(nts for th¢ Year Ended 31sLMar¢b 20 for LoddoD So¢ial Ent¢rprlse LimSted Wheeler & Co Ltd Chartered Accountsnts The Shrubbery 14 Church Street Whitchurch Hampshir¢ RG28 7AB
Do¢usign Envelope ID.. 6904C323-OFA44A7D-BBF2-8B4D16865En Contents of thc Flnanclal Statcments fpr the Yeor Ended 315t March 2024 Page Report of the Truste Ind¢p¢ndent Examln¢r's R¢port St4tem¢nt of Fill81 A¢¢$ BalAnee Sheet Yotes to the Flnandal Statsm¢nts 8 to 13 Detal]ed Statement of FIDancl*l Aetiviti 14
Docusign Envelope ID.. 6904C323-oFA44A7BBF2-84Dl6B6sETT ld0 So¢ial Enter rise Limlted ort of the Trustees for the YeAr Ended 31st March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 21K)6, present their rqjort with the financial staiements of the charity for the Jear ended 31st March 2024. The trustees have adopted the provisions or Accounting and Rq)orting by Charities: Stalcrncnt of Recommended Practice applicable to charilies preparing their a(t5 in accordance with the Financiai Rwrting Standard 4)plicablc in the UK and Republic of treland (FRS 102) (effective l January 2019). ORJECTIVES AI¥D ACTMTIES ObJe¢ifive8 and aims The PUTpose of the charity is to provide work experience and Iraining opportunitics for people with spe¢ia] needs to help them dei'elop their skills in a safe environment. The Charity sceks to achieve thit> objcctivc through the provision of a secure managed 'orkshOp environment that enables service users lo gain experience and Iraining in %irnple a&bIY tasks and also an understanding of WOTkin8 disciplines, lime keepin& social skill% working in teams and communicatlng, Slgnlficnt aetivldes The rnain types of activllies undertaken by thc Service Users are slmple assembly and packaging ta8ks. These opportunilies are provided by several local Manufacture and suppliers, who do so on a sub-contract basis. SoclAI Investments The charity's activilie5 benefit the public by a8SiSting the rehabilitation and p)lential of employment of disabled persons in the community. The TrUee$ consider Ihal this complies with their duty undcr section 4 of the 2006 ChaT1t1 Act in regard to Charity Commi&¥ion guidance on public benefit. Volunteers Thc charity does not use volunleer staff. ACHIEVEMENT AND PERFORMANCE ChArltable AedtieS The funding situation in the year produced an income of £133,649 (2023 - £122,500), which when added to the qalc8 income of £25,680 (2023 - £23.319). interest of £10,312 {2023- £4.482) aTJd donationil and grant income of £500 (2023 - £nil) 8ave a total income of £170,141 (2023 - £150,321) against d budg¢t of £151,700. The total expenditure of £153.814 w&$ less than the budget of £151 J20. Overall the charily produced a surplus of £16,327 (2023 - £2,742) against a budgeted tIrPluS of £380. No transfers hav¢ been made from the General Fund to the Premises Developmeni Fund. As a result of the yeavs activitics the balance sheet shows an inotr&s¢ in the General Fund from £219,651 to £235,978 and no change in the restricted reserves remaining at £305,727. Intern1 and external factors AEthough the charity Continu to bc reliant on one customer there been some success in widening the customer base and work on this continues. FINANCIAL REVIEW RthieiTr The charity has had a further succcssful year op¢rating under the new contract with Hampshire County CDuncil (HCC) Adult Savices, and we hope this sUCcSful fmancial pcrformance will Continu We need to acknowledge that the charity's SUCC¢SS is due to the efforts and hd work of the Wothhop Manager and staff. coronaviru Covid-19 The irnpa of Covid-19 has reduced in line with current gOVcnent guidance, however operational practices remain in place ,hICh minimis¢ the risk of infection where possibl Page I
Do¢LLsign Envelope ID.. 8904C323-OFA44A7t>BBF24B4D16865E77 Loddon Soeiai Enter rise Limited rt of the Trustee5 for the Year Ended 31st March 2024 FINM'CIAL REVIEW Res¢rves po]iey Thc Trustccs policy i.s to maintsirj a level of reserves thal cover the sts of winding up the Chlty and meeting the Charity's future commitments. Il is Ihe lrnstees view that a major risk is the loss of funding income from HCC Aduh Services. HCC like all local authorities are under continuing pressure to achieve savings as a result of ruCtionS in centrai government fvnding. Should this search for savings result in a reduction in funding for services such as ours the tharity would no longer be finallcially viable. The charity will therefore continue to build our reserves lo address this possibility. FiYfURE PLANS The charity will continue to seek more local companies ty provide work for s¢rvic¢ users. STRUCTURE, GOVERIYANCE AND TrL4NAGEMENT Structure Loddon (Charitable Trust) Lirnited was illcorporatcd a company limited by guarantce on 27th March 1992, and was registered by the Charity Con]mission on 14th May 1992. The Charity is governed by ils Memorandum and Articles of Association. The company changed it's namc on 28th March 2011 to IAMldon Social Enterprise Limited. Recndlment and appolntment of new trn$tees Trustees are nominated to the board from conlacts in the local business community and from the founding companies of the trusL OryanlsAtlonal strncture All day lo day trading decisions dre taken by the charity's Staff, while policy deeisions Are taken by the board of ttustees. Inducdon 8nd tralnlng of new trustees All new trustees are trained in Ihe business of the charity and the lega] framcwork in which the charity opcralcs. Wider De¢work The charity is not part of a wider network Related pirtles The charity has no related parties REFEREIYCE ALYD ADMtlilSTRATIVE DETAIIS Reglstered Company Dumber 02701126 (England and Wales) Registered Charity number 1011066 Regtstered offiee 9-10 Brunswick Pl¢ Basingstoke Hampshire RG213NN Trustees D J strawIdge JBurt AJSPaul MT1ch I F Hodgson BJWt P J Verney Page 2
Docusign Envelope ID.. 6904C32&0F78BF2-8B4Dl6865E77 oddon SoclAI Enter rise tAmite rt of the Tru REFERENCE A)J T) ADThIINISTRATIVE DETAILS Company Secretary IDdepeDdent Examkner Kevin IVheel¢r FCA Wheeler & Co Ltd Chartered Accountants The Shrubbery 14 Church Street Iwhitchurch Hampshire RG28 7AB Solicitors Phillips Solicitors Incoorating Brain Chase Coles. Town Gate, 38 London Street, Basingstoke, RG21 TrIY Bankers National Westrninster Bank plq 3 London Str(£t, B&singstoke, RG217NS ACKNOWLEDGEMEMS The ¢harit)' greatly appreciates the assistance wilh funding by Harnp%hiTe Socia] Services. The charity also appreciates the continued cu8tom of tTW and the membership of Ben Wesl on the Council of Mana8em¢nt. Loddon continues to be well managed and thanks are due to Calhy m{shall, the Workshop Manager, and her team of assi5tanls. The Council of Mana8emcnt acknowlcdges the assistance received from Basingslok¢ & Deane Borough Council by way of exemption from business rate4 and Ihe nomination of a councillor to the Council of Management. Approved by order ofthe board of tru5tces on 13th December 2024 and signed on its iKhalf by: 8bJnod br. C29iAcg4ceo)447... J Burt- Truste¢ Page 3
Docusign Envelope ID: 6904C323-OFA4-4A7D-88F2-884D16865E77 Inde endent Examlner's Report to the Trustees of IAMldon Social Enter rise Limited Independent examiner's report to the trustees of lrt)ddon SOCI Enteryrtse Llmited ('the Company,) I rcw)rt to thc charih, tru.4te&% on my examination of the accounls of the Company for the year ended 31st March 2024. Responsibilities and basis of report As the charity's truste¢s of the Company (and also its directors for the puryoses of company law) you are reSnSIble for the preparation of the accounts in a¢cordanc¢ with the requirements of the Companies Ad 20(h5 Cthe 2(106 Act). Having satisfied myself thal the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatio I ryrt in respect of my examination of your charitys accounts as carried out under 8cction 145 of the Cbarlties Act 2011 ('the 2011 Act). In canying out my examination I have followed the Dire¢tions given by the ChaTity Commission under Section 145(5) (b) of the 2011 Act. IDdependent examtner's statement I have compl¢t¢d my examination. I eonfinn no mattets have come to rny attenlion in connection with the examination giving me cause to believe: accountin¥ Tecor(Ls wcre not kept in IEspect of the Company as required by Section .386 of the 2006 Act. or the accounts do not accond with those records. or the <coUnt do not comply with the aOUnting requirements of Section 396 of the 2006 Act other than any requiremeni that Ihe accounts give a true and fair view which is not a matttt considered &% part of an independent examination. or the accounts have been prepared in 0[dance wilh the methiNJs and principle& of thc Statcment of Recommended Practice for CountIng and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in th¢ UK and Republic of Ir¢land (FRS 102)). I have no concerns and have corntt acTOSS no other matters in conneLlion with the examination to which *tention should bc drawij in this report in order to enable a proper understanding of ihe accounts to be reached. Kevin Whccler FCA Wheeler & Co Ltd Chartered Accounlants The shbbery 14 C.hureh Strcet Whitchuh Hampshire RG28 7AB 16th December 2024 Page 4
Docusign Envelope ID.. 6904C3234]FA44A7D-BBF2-884D16865E77 Loddon Social Enter r15e Llmlted Statement of Flnanci ti%ities 31.3.24 Total nds 31.3.23 Total Un$tried fLmd Restricted funds Notes II%COME AND EM)OWmEs FROM Donations and legacies 500 Charitsble acttvÉtie8 Employment of disabled persons 159,329 159,329 145,839 tnvcstment income 10,312 10,312 4,482 Total 170.141 170,141 150,321 EXPENDITiiRE OIY ChAritable 4ctlvities Employment ofdisablcd persons 153,814 153,814 147,579 NET LS'COME 16,327 16,327 1742 RFCOIICILIATIOY OF Fus Total fun(L%' broughl forward 219,651 305,727 525,378 522.636 TOTAL FUTIs CARRtF,D FORM'ARD 235,978 305,727 541,705 525.378 The notes forni part of the financial statements Page 5
Docusign Envelope ID.. 6W4C323-OFA44A7D-BBF2-884D16865E77 31.3.24 Total funds 31.3.23 Total funds Unrestricted fund Restiicted fimds Note5 CURRENT ASSETS Dcbtors Cash at bank and in hand io 46.311 198,636 46.311 512,619 20,728 525,705 313,983 244,947 313,983 558,930 546,433 CREDoRs Amounts falling due within one year (8,969) (8,256) (17,225) {21,055) YET CLUiRENT ASSETS 235,978 305,727 541,705 525,378 TOTAL ASSETS LESS CLIRRENT LIABILITIES 235,978 305,727 541,705 525,378 NET ASSETS 235,978 305,727 541.705 525,378 12 Unrebtriclejj fun(ts Restri¢ted funds 235,978 305,727 219.651 305,727 TOTAL FUNDS 541,705 525,378 The charitable company is entitled to exemption from audit under Section 477 of the Companies Ath 2006 for the year ended 3 1st Mawh 2024. The mcmbers. have not rquired thc company to obtain an audit of its financial statcment¥ for the year ended 31st MaKh 2024 An accordance with Section 476 of the Companies Act 20(Kfj. The trustees acknowledge their responsibilities lor {a) ensuring that the charitable company keeps QUntillg records that mplY with Se¢tions 386 and 387 of the Companies Act 2006 and preparing fllW]cial statements which give a true and fair view of the state of affairs of the charitable company &8 at the end of each financial year and of its surplus or deficlt for each financial year in accordance with the requirements, of Section4' 394 and 395 and which otherwise comply with the requirements of th¢ Companies Act 2006 relating to financial statement4 w far as applicable to the charitable ¢ompany. (b) The notes fonn part of these fiDancial ststements Page 6 continued...
Docusign Envelop? ID, 6904C323-OFA44A70-BBF2-8B4D16865E77 ddon Social Enter rise IAmited Balance Sheet- continll These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regirne. The fmancial statements were approved by the Board of Trustee5 and authorised for issue on 13th Dember 2024 and were signed on its behalf by.. ¥J br. plAcc803117.. J Burt- Trn5tee 1E453W2158•4E7... A J S Paul- Trustee The notes forn] pzrt of theK financial ststements Page 7
DoSign Envelope ID.. 8904C32>0FA44A7D-BBF2-884D16865E77 ddon Social Enter rlse Limited otes to the Financial Statements for the Year Ended 31st mch 2024 ACCOUNTING POLICIKS Basi5 of prepAring the financlal 8tstements The financial staternents of the charitable company, which is a publi¢ benefit entity under I",RS 102, have been prepared in a6cordance with thc CharitiQ* SORP IFRS 102) 'Accountin¥ and Rcporting by Charitias: Staterncnt of Recommended Pra¢tice applicable to charities prepating their accounts in accordance with the Financial Reporting Standard app]ib]e in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'fhe Financial Reporting Standard applicable in the UK and Rq)ublic of Jreland, and the Companies Act 2006. The fin8mcial staterncTJts have been prepared under the historical cost convention. IDtome All income is recognised in the Statement of Financial Activities once the chlty has entitlement to the funds, it is probable that the income will be received and the amounl can be measured reliably. Expendlthre Liabiliiies are re¢ogThispAI as expenditure as soon as ihere is a legal or constructive obligalion committing the charity to that expenditure, it is probablc that a transfcr of economic bcnefiLs will bc requircd in sdt]¢m¢nt and the amount of the obligation can be measured reliably. Lxpenditure is accounted for on an a¢cnth15 basis and has be¢n classified und¢r hrddings that aggrcgatc all cost rclatcd to thc catcgory. Wherc costs cannot be directly attributed lo particular headings they have been 8llocat¢d to activlties on a basis consistenl with the usr of rcsourccs. Allocation and Apportlonment of eosts All costs relate to the main aLlivity of the charity. T¥n8lble fixed assets Depreciation is provided al the following annual rates in order to wriie off each asset over ils eslimaled useful lifc. Cmputer equipment 330/0 on cost Tax#tion The charity ib excmpt from corporation tax on its charitsble activities. Fund accounting Unrestrictcd funds can be uscd in accordance with the charitable objectives at the discretion of the knjstees, Restricted funds can only be used for particular restricted pu4y)ses wiihin the objects of the charity. Restrictions arise when specified by the donor or when fundy are raised for particular resxricted purpo Hlr¢ purchase and l¢a$lng ¢ommitments Rental.% paid under operating le&8es are charged to the Statement of Financial Activities on a strdight line basis over the period of the lease. Page 8 continued...
tlocusign Envelope ID.. 6g04C32&0FAMA7D.BBF2-884D16865E77 IA)ddon Sodal Enter rtse LIted St in or the Ye rEnd DOh'ATIONS AND I,EGACIES 31.3.24 31.3.23 Donations 500 VESTME ThCOM 31.3.24 31.3.23 t¢T¢St rcccivable- tr*ling 10,312 4,482 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Local authority placement fees Sub-assembly Work F.mployment of disabled persons En]pl0nent of disabled persons 133,649 25,680 122.500 23,339 159,329 145,839 SUPPORT COSTS Governance costs Management FIn1ce Totals Employment of disabled persons 131,432 3,972 450 135,854 Support C08ts, included in the abov4 are as follows: 31.3.24 Emplovmcnt 31.3.23 disabled persons Total activities Ivagas Rent and seTvices Inwrance Light and heat Telephone Postage and stationery Repairs and maintenance Sundries Cleaning Treasurers retainer Bank charges Accountancy and legal fees 86,681 26,627 2,233 4,958 222 271 5,753 3,202 1,485 3,725 247 450 79.635 27,422 2,174 3,186 539 221 10,209 3.41¥ 307 3,690 219 717 135,854 131,737 Page 9 continu¢d...
Docusign Envelope ID.. 6904C32&0FA44A7D-BBF2-8B4D16865E77 IAJddoD Social Enter rise Limited ncA nts- NET LWCO1ExPENDrTLllIE) Net incomel(expenditure) is Stated after chargingl{craliting).' 31.3.24 31.323 Othcr op¢rating lea 26,627 27,422 TRtiSTEES' REMLryERATION AYID BENEFITS There wcrc no tru5tees' remuneration or other benefits for the year ended 31st March 2024 nor for the year end 31st March 2023. Trustees, expen5e5 There were no trustees, expenses paid for the year ended 31st March 2024 noT for the year ¢nd 31st March 2023. SI'AFF COSTS Th¢ av¢rag¢ monthly number of cmployttty durin¥ Ihc year as follows: 31.3.24 31.3.23 Supervisory staff (full time equivalt) No ¢mployeLS rcccived cmoluments in excess of £60,000. TANGtBLF. FIXF.rJ ASSFTS cMputer equiprncnl cos'i" At I st April 2023 and 31 st Mar¢h 2024 355 DEPRECIATIO.Y At I st April 2023 and 3 1st March 2024 355 ET BOOK VALUE At 3 1st March 2024 At 31st March 2023 Page 10 continu,..
Docusign Envelope ID: 6904C32&0FA44A70-BBF2-8B4D16865E77 Lthldon Social Enter rist Limited tes to the Fillancial St&ttments- continu for the Year Ended 31SLMckn 2024. io. DEBTORS: AMOiiNTS FALLING DUE WITHLN OI%E YEAR 31.3.24 31.323 TTadc dcbtOTS Prepaymenls 36,770 9.541 12,391 8,337 46,311 20,728 ii. CREDITORS: AMOUNTS FALLING DUE WITHllY O.NE YL4R 31.3.24 31.3.23 Social %ccurity and other taxes VAT Other creditors Deferred income Accrned expenses 2,465 3,458 8,256 315 2,731 1,870 6,777 8256 315 3,837 17225 21,055 12. MOVEMENT Ir4 FUNDS Nct movement in fun(Ls Al 31.3.24 At 1.4.23 Ullre5trlc¢ed funds General fund 219,651 16,327 235,978 Restrlcted funds Pranises development fund Covid 19- Conlml Outbrcak Managemcnt Fund 291,461 291,461 14,266 14,266 305,727 305,727 TOTAL FtThi)s 525,378 16,327 541,705 Na rnovement in funds, included in the above are as follows: Incoming rwurces Resources expended Movement in fijnds Unrestricted funds General fund 170,141 (153,814) 16327 TOTAL FUNDS 170,141 (153,814) 16,327 Pagell continued...
Docusign Envelope ID.. s4c32&0FA4-4A7D-BBF2-8B4D1686SE77 tKJddon Social Enter rise lo]nited Iyo the Fillatseial Statements- continu li MOVEMENT IN FUNDS. eonthiued Comparailv¢s for movement in funds Nrt movement in fundb. At 31.3.23 At 1.4.22 Unrestrlcted funds G¢n¢rnl fijnd 219,902 (251) 219,651 Restrlcled fund8 Premi$ dcvelopment fijnd Covid 19 - Contwl Outbreak Managanent Fund 288,468 2,993 291,461 14,266 14,266 302,734 2,993 305,727 TOTAL FUNDS 522,636 2,742 525,378 Comparative nd movemcnt in fund4 included in the above are &s follows: Incoming resources Resources expended Movement in funds un(rActed funds General fund 147,328 (147,579) (251) Restrlcted funds Premisc$ d¢v¢lopmenl fvnd 2,993 2,993 TOTAL Fu7)s 150,321 (147,579) 2,742 A wrrcnt y¢ar12 rnonihs and PTIOT yWdr12 months combined position is &¥ follows: Net movement in funds At 31.3.24 At 1,4.22 Unrestrieted funds General fvnd 219,902 16,076 235,978 Restrlcted fuuds Pr¢mis¢s d¢vdopmeni thnd Covid 19- Control Outbreak Management Fund 288,468 2,993 291,461 14,266 14266 301734 1993 305,727 TOTAL FLThDS 522,636 I9,9 541,705 Page 12 continued...
Docusign Envelope ID.. 6904C323-OFA44A7D-88F2-884D16865E77 ddon Social Enter rise Limiled the Fknllndal Statements- ntinu 12. MOVE IN FUliDS- condnued A cuent year 12 rnonths and prior year 12 months combined net movement in funds, included in the above arc as follows: coming resources Resources exp¢nd¢d Movement in funds Unrestricted funth Genernl fund 317,469 (301,393) 16.076 Restrleted fvnds Premise5 development nd 2,993 2,993 TOTAL FUhT)S 320,462 (301,.393) 19,069 13. RELATED PARTY DISCIL)SURES There were no related paty transaetions for the year ended.11 st March 2024. Page 13
Dwsign Envelope ID.. 6904C32&0FA4447D-BBF2-884D16865E77 Loddon S nter rise Llmlted Detailed Statement f Fln tivi 31.3.24 31.3.23 COME EYDO1VTh1TS Donations legacie5 Donations 500 Investment In¢ome Inieresl receivabl¢- tradin¥ 10,312 4,482 C1wble getlvities IK)¢al authority placement fe£s Sub-&%scmbly work 133,649 25.680 122,500 23.139 159,329 145,839 Total incomlng resources 170,141 150,321 EXPENDITURF Charltable a¢dvlll¢g Travelling and subsistencc Welfare 16,499 1,461 929 17,960 15,842 Support costs Man8gem¢nl Wages Rent and servi In%urancc Light and heal Tclcphone Postagc and stationery Rq)airs and maintenance Sundrics Cleaning 86,681 26,627 2,233 4,958 222 271 5,753 3202 1,485 79,635 27,422 1174 3,186 539 221 10,209 3.418 307 131,432 127.111 Finance Treasurers retainer Bank charges 3,725 247 3,690 219 3,972 3,909 Governante tosts Accountancy and legal fees 450 717 Total resouTces expended 153,814 147,579 Net income 16,327 2,742 This page does not forn] part of the statutory financial statements Page 14