Year End March 2024 (hiistian Aition ResouI(e Enterprise ANNUAL ACCOUNTS REPORT {r Chrlstlan Aetlon & Re￿ure* Ent¢rprl Annual report and Flnancial Statements eglst•rodCharltyNumb•riom78 egistered Company Number. 02790390 www.carenelincs.co.uk CHRISTIAN ACTION AND RESOURCE ENTERPRISE CONTENTS OFTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Page Report of the Trustees Ito14 Independent Examiner's Report 15 Statement of Financial Activities 16 Balance Sheet 17 Cash Flow Statement 18 Notes to the Cash Flow Statement 19 Notes to the Financial Statements 20to31 Page 2 care S)• CHRISTIANACTION AND RESOURCE ENTERPRISE (REGISTEREDCHARITYNUMBER: 2790390 REGISTERED COMPANYNUMBER:02790390) REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Known as CARE 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 ot 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 (FRS102) (effective l January 2019). OBJECTIVES AND ACTIVITIES ObA•ctlv•s and Alms The principal activity of the company in the year under review was that of relieving poverty, hardship and distress in Grimsby, Cleethorpes, Immingham and the surrounding area in North East Lincolnshire. ENSURING OURWORKDELIVERSOURAIMS We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public beneflt and complied with section17(5) of the 2011 Charities Act when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees/Directors consider how planned activities will contribute to the aims and objectives they have set. ACHIEVEMENT AND PERFORMANCE CharitableActlvitl•8 The results for the year and the financial position of the company are shown in the annexed accounts. A summary of the results for the year is given on page 8 & 9 of the accounts. During the financial year from April 2023 to March 2024, we've made significant strides towards achieving greater sustainability, ensuring that our services remain available to those who rely on them. In December 2022, we obtained approval from NE Lincs Council (NELC) for Intensive Housing Management. This allowed us to adapt a portion of our Housing Support service to qualify for Enhanced Housing Benefit, thereby expanding our income sources. As a result, we can now provide intensive housing support to individuals and families in need. Page 3 COMMENTS FROM. PEOPLE INTHEIROWN WORDS care [)• CARE have been my saving grace, providing a roof over my head and ensuring my three beautiful, restless children have a place to call home. Having experienced homelessness in the past, their assistance has been transformative. My life was like a nightmare I couldn't wake up from, but now for: first time, I feel I have chance to build something, and focus on caring for myself. 99 ?? Iii• I 66 proaching CARE for support, I was in desperate need of finding and obtaining a place of my own to live, s at that time I was temporarily staying with my brother t his flat, and our relationship had deteriorated to such a state, that I found myself literally being thrown out in the middle of the night, in the middle of winter. I then had to ask a friend to put me up, again on a temporary basis, until I found somewhere of my own to live. I had no way of getting a deposit to start renting a house, I was temporarily homeless, and with thanks to CARE housin everything changed. ?? Page 4 care STORIES OF LIVES IMPACTED (Names have been changed to protect identities Each of these stories represents a journey of hope, resilience, and transformation, highlighting the real lives changed through CARE'S dedication and support. WILL'SJOURNEY Will,18, grew up in the care system with no family support, facing a troubled upbringing and ADHD. Bullied at school, he later bullied others and then became involved in drugs and gangs. Meeting Jade, he wanted to turn his life around, but they could not find housing, so they came to CARE. Initially distrustful, Will gradually opened up to his Support fo Worker, revealing his emotional struggles and deep desire to escape his past. CARE discovered his passion for boxing and connected him with a local gym, helping him leave his old life behind. Reflecting on his Journey, Will shares, "When I think about things, I have a lot of regret and my life now, I know how to show love to people. I never knew how to show love before, because all I'd ever seen was people doing bad things to each other. I no longer jump when there's a knock at the door, and I feel secure.- SANDRA'SSTORY Last year, CARE housed Sandra, a vulnerable woman with physical needs and autism. When she moved into her ground-floor flat, Sandra built trust with her Support Worker, eventually disclosing a history of intimidation from a loan shark linked to an abusive ex-partner. She had been paying £250 a month for18 months, fearing consequences if she stopped. With CARE'S guidance, Sandra involved the police and was finally able to stop the payments, beginning the process of sorting out her debts. As Sandra grew in confidence, she reported her ex-partner to the polic a second time after he began making threats. This time, Sandra was proud of herself for speaking up, feeling stronger and more in control of her life. Page 5 care OUR YEAR IN FIGURES 296 rtPEOPLE •4,251 LOCAL PEOPLE roached CARE or helpwith housin fami ies or Individuals newty housed. and 106 tenancies maintained. PEOPL provided with food assistance (including food vouchers In Grimsby). housed since CARE'S founding 67 ORGANISATIONS 1,035 CHILDRE Supported Yii190 and ADULTS partnered with CAREspecificalty to support food provision. r￿e1Ved brand- new to th•C s through CHILDREN Initiative (89 Grlmsb and138 In Imm through !:I Community Support. Assiste rovlded Benelltted from 1,167 DULTS '%/7.596 peoplewlth •ssentlals Ilke food, vouchers. gas. electricity. clothin .and lurniture. otalllng volunteer hours. representing and 900 £79.147 , in equivalent salary ort. including 9 hours at the CARE Shopandl.177 hours at Access Points and Food Provision. CHILDREN touropen house dro Ins across ur eeess Points. £52.919 In contrlbutions. Page 6 care CARE HOUSING Through CARE Housing's new supported housing programme, we have successfully housed 11 people in 9 tenancies over the past year. We lease properties from landlords for up to two years, providing tenants with intensive support throughout that period. The individuals we house often face significant challenges, including domestic abuse, intimidation, care leaver struggles, drug misuse, and mental health crises. The stability offered by supported housing allows them to work on these issues in a safe, secure environment with tailored guidance. Throughout the programme, tenants receive personalised support to help stabilise their lives and prepare for independent living. Our aim is to transition tenants into longer-term, general needs tenancies. Where possible, this transition occurs within the same property. At the end of the supported housing period, we offer landlords the opportunity to continue housing tenants under a general needs tenancy, along With a £500 damage bond guarantee for peace of mind. Should a tenant move out, we commit to leasing the property again, ensuring it remains available to those in need. Currently, CARE Housing manages over 60 tenancies and partners with 41 private landlords. Recently, we have seen a rise in enquiries from landlords offering properties for CARE to lease, including properties they are purchasing specifically for this purpose. This growing interest demonstrates confidence in our approach and the impact of our housing programmes in the community. Above the CARE Shop, we provide housing for previously homeless residents in 7 flats. This additional housing resource has been instrumental in offering a secure home to those who would otherwise struggle to find accommodation, helping them rebuild their lives. CARECOMMUNITYSUPPORT The past year has been one of significant transition for CARE. As funding for the Community Support Service tapered off, the Trustees conducted a thorough review of the charity's financial position and strategic priorities. It became clear that without securing replacement funding, continuing to operate the service would place the charity at financial risk. ILIS - In July, the decision was made to close the Community Support Service and restructure the charity's operations. This included some redundancies to realign resources. CARE has, however, retained its crisis drop-in service and intensive housing support, ensuring the community continues to have access to essential assistance. Services have been streamlined to operate more efficiently, enabling CARE to maintain I:1 client support and remain open. This restructuring has allowed CARE to strengthen its financial position and focus on sustainable grovrth. Looking ahead, the charity aims to expand its support services as trading income and housing work grow. The move into CARE'S newly renovated premises is expected to improve the charity's visibility and outreach in the community. Page 7 shop@carenelincs.co.uk . % (11472 232312 care •)• Sh. care .carer*lincs.co.uk Rwre&* CARE SHOP Our shop sales have bounced back to pre-pandemic levels. This is a testament to the dedication of our shop s staff and volunteers. CARE'S charity shop offers a diverse range of items, from clothing to furniture and household essentials, all sourced from generous local community donations. This enables us to assist those in need and make a tangible difference. Our furniture donation and recycling service provides furniture and essential items entirely free of charge to individuals in need, setting us apart and emphasising our deep commitment to supporting local people. Over the past year, we have provided vital support to 2,084 individuals, including children, with contributions totalling £52,918.74 for food vouchers, gas, electricity, clothing, and furniture. CARE EMERGENCY FOOD PROVISION At our Grimsby Access Point, we continue to support individuals in need by distributing food vouchers. These vouchers allow people to access essential supplies from local outlets, providing them with the flexibility to select items that best suit their needs. This approach ensures we off er targeted assistance to those facing food insecurity in a way that empowers choice and dignity. At our Immingham Access Point, we provide direct food support through our well established distribution service. This centre remains a vital resource for the local community, offering consistent, reliable access to food for families and individuals who might otherwise struggle to meet basic needs. In the year 2023-24, we successfully provided food assistance to 1,243 individuals across across both our Grimsby and Immingham locations, including through the distribution of food vouchers in Grimsby. This achievement was made possible by the generous contributions of 67 organisations-including churches, schools, businesses, and individual donors-whose continued support enables us to meet the growing demand for food assistance in the region. CHRISTMAS TOY APPEAL Once again, as December approached, we hosted our annual Toys for Joy campaign. During this initiative, we collected brand- new toys and cash donations to purchase toys, which were then distributed to families experiencing heightened stress during the Christmas season. This period often exacerbates the financial burdens of these families, pushing them further into the hands of doorstep loan companies. .*1 We extend our heartfelt gratitude to a diverse group of donors companies, churches, schools, supermarkets, agencies, and individuals, whose remarkable generosity made this campaign possible. Thanks to their support, we provided brand-new toys to 1,035 children this year, with 897 in Grimsby and 138 in Immingham. Page 8 care j) STAFF &VOLUNTEERS Throughout the 2023-2024 financial year, we have sustained an average of14.9 FTE salaries. In addition, we provided training and employment access for unemployed individuals and those rebuilding their confidence to work. This effort created new volunteering opportunities that helped vulnerable people reintegrate into mainstream working life. CARE has benefitted from 7,596 volunteer hours, representing an equivalent of £79,147 in salary value (calculated as volunteer hours multiplied by the Living Wage of £10.42). This included: 6,419 hours at the CARE Shop,1,177 hours at our two Access Points & Food Provision. PREMISES The Grimsby Access Point on Hainton Avenue is our main office and continues to offer drop-in facilities for individuals in crisis and need, with a dedicated training room for meetings and group activities. The CARE Shop, is a double-fronted shop located along the seafront on Alexandra Road in Cleethorpes, with 7 flats above, This is owned by the charity and brings in much needed funds for our work. Meanwhile, the Immingham Access Point, situated within the Immingham Civic Hub, offers drop-in facilities similar to our Grimsby Access Point and operates an emergency food provision service. These services are pivotal in our mission to provide crucial support to those in need. core llijtrlj | lill As we move towards the end of the financial year, we are thrilled to announce progress on our new town centre premises at 86-88 Victoria Street. This location, first mentioned in our previous report, will soon become a vibrant community hub. Our current Hainton Avenue site faces limitations, and this new building offers the opportunity to create a safe, welcoming space for individuals from all walks of life to access essential support and services. This year, we have successfully raised funds and received pledges to renovate and extend the building into a community health and wellbeing hub, with completion projected for 2025. We look forward to making this vision a reality and enhancing our ability to serve the community. Page 9 care INCOME CARE continues to be a not-for-profit charitable comF)any. However, we continue to strive to achieve financial sustainability through generating income from CARE Shop sales, rental from the charity's properties, Enhanced Housing Benefit and the 4% management charge to landlords. Our trading income can then be used to fund other areas of the charity enabling us to provide a holistic service to people in need across North East Lincolnshire. Throughout the year we have been extremely grateful for grants received from the following organisations: Asda Foundation Food Vouchers B&Q Foundation Flat building & reconstruction work Van and driver costs East Coast Community Fund Garfield Weston Foundation Housing and Community Support Property Repairs Unrestricted Help the Homeless Lloyds Bank Foundation MSE Charity Nationwide Community Grant NE Lincs Food Grant Scheme Community Services Housing Support Food grants Client utilities NELC- HSG Funding NHS Humber & N Yorks ICB Hospital Discharge Support Household Support Community services Food and Utility Vouchers Support With Van And Driver Sir Alec Black's Charity Sisters of St Josephs of Peace Souter Charitable Trust The Albert Hunt Trust The Henry Smith Charity The Mercers Charitable Foundation Housing Support staff Costs The National Lottery Community Fund Housing and Community Support FINANCIAL REVIEW Free reserves at year-end stood at £129,621, which is below our target minimum of £158,000, representing three months of operating costs. This is a departure from the previous yeaff s figure of £181,078 and reflects challenges faced in maintaining our reserves within the policy range of 25 / to 50% of annual operating expenses. In line with CARE'S reserves policy, we aim to restore our free reserves to at least 25 /0 of our forecast expenditure within the next two years through increased fundraising efforts and careful financial management. Page10 care S)• POST BALANCE SHEET ACTIVITIES Following the financial year-end, the Trustees proactively addressed the drop in reserves and the significant funding challenges facing our Community Support Service. Despite concerted efforts to secure sustainable funding, the service faced an inevitable tapering of grants in a competitive environment, necessitating strategic restructuring of operations. This included the diff icult decision to close the Community Support Service, and reduce staffing at the charity shop, with redundancies being an unfortunate yet necessary consequence to preserve our financial health. Recognising the need to adapt and ensure long-term sustainability, the Trustees have further developed our role as an approved provider of Enhanced Housing Benefit. This progression builds on our established foundation in housing suppo¢ improving our capability to offer intensive housing support to those who are homeless or vulnerably housed, helping them maintain their tenancies. Our restructuring now concentrates on core areas of crisis support and housing, where we continue to provide invaluable assistance to the community. These actions have addressed our drop in our reserves, and we are in a good position from which to grow. Our deepened focus on intensive housing and crisis support reflects our commitment to a sustainable future and the continued provision of essential senJices to those in need. FUTURE PLANS We have recognised the urgent need to expand our services as we currently have a waiting list for support. However, our premises on Hainton Avenue are too small to accommodate this growth. We lack the space to bring our beneficiaries together, share lived experiences, and build relationships. There is a clear need for a community hub in central Grimsby-a place where people can feel at home, socialise, and access help in a warm, welcoming environment. This hub will offer hot drinks, food, and a space for individuals to connecL reducing isolation and loneliness. We envision this hub as a place where people from all walks of life can come together, increasing their independence and improving their overall wellbeing. The new building will allow us to provide comprehensive support under one roof, making it easier for our beneficiaries to access seNices from a range of organisations. This hub will play a vital role in reducing poverty, homelessness, and improving the health and wellbeing of the community. ENVIRONMENTAL SUSTAINABILITY We recognise the ongoing impact of man-made climate change and the importance of reducing our carbon footprint. Over the last five years, we have made significant strides towards becoming a paperless off ice, transitioning from paper-based systems. We will continue exploring additional ways to reduce paper usage and minimise waste. Since 2018, our default practice in the CARE Shop has been to avoid automatically printing customer receipts unless specifically requested. In March 2021, we reinforced this effort by signing up for the 'Beat the Receipt, campaign and the 'Paperless Pledge,. Furthermore, we have participated in the Ethical Propety Foundation Workshop series, learning how to make our properties more energy-eff icient and sustainable. These workshops help us understand the critical property changes necessary to ensure that our buildings remain energy efficienL comfortable, and productive work environments. They also cover cost-effective, energy-efficient maintenance practices that help us save money while reducing our carbon emissions. As part of our ongoing commitment to sustainability, we are developing an Ethical Property Plan. This plan will be a key component of our wider environment and ecology strategy, aimed at reducing our carbon footprint and aligning with the government's plans to achieve Net-zero carbon emissions in the future. Our new building is being designed with these principles in mind. Page11 care S)• STRUCTURE. GOVERNANCEAND MANAGEMENT Governing document The Charity is governed by its Memorandum and Articles of Association. As the company is limited by guarantee, there were no beneficial interests in the company, RECRUITMENT AND APPOINTMENTOF NEWTRUSTEES CARE seeks to appoint trusteesldirectors from persons who share the same ethos. It seeks to identify those most suitable to bring a balance of skills and strengths to the board. ORGANISATIONALSTRUCTURE The charity is managed by the DirectorslTrustees who have ultimate control over the management and operations of the Charity, including the administration and management of the Charity's funds and assets in the furtherance of its objects. The Directors/Trustees accompanied by the Chief Executive meet regularly throughout the year and have responsibility of ensuring the day-to-day activities of the Charity are adequately achieved by the key staff management and wider team. When considering staff pay the DirectorslTrustees look at the skills, qualifications and experience of the employee, comparative remuneration levels paid in similar organisations for similar roles, recognising regional differences. INDUCTION AND TRAINING OF NEW TRUSTEES On appointment, all Trustees/Directors undertake an induction to include an overview of the Charity and breakdown of responsibilities. RISK MANAGEMENT The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees/Directors have examined the major strategic, business and operational risks that the Charity faces and confirms that systems have been established to monitor and control these risks and ensure that the necessary steps can be taken when appropriate. A formal risk register is in place and is reviewed annually. Principle risks going forward have been identified as - Competition in the charity shop sector, dependency on grant funding, change of government policy and spending cuts. Considerable work has been undertaken and professional services engaged of a reputable health and safety company to advise on all aspects of health and safety and employment regulations. Page 12 care REFERENCEANDADMINISTRATIVE DETAILS Registered Company Number 02790390 (England and Wales) Registered CharltyNumber 1027978 Trustees Mrs. R Brewin - Chalr D. Jones (resigned 27.09.24) D. Robinson D. A. Postle (resigned 29.12.23) A N Jewitt (resigned 18.09.23) Mrs. S Taylor (appointed 5.6.23) Rev. L.M. Smith (appointed13.03.24) G. A. White (appointed 27.09.24) Ind•p•nd•nl Examln•r Chloe Tams F.C.A. Smethurst & Co LLP 12 Abbey Road GRIMSBY DN32 OHL S•nlor Manag•m•nt CEO - Anne Bickerstaffe Page13 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE (REGISTERED NUMBER: 02790390)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** ## **EVENTS SINCE THE END OF THE YEAR** Information relating to events since the end of the year is given in the notes to the financial statements. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of Christian Action And Resource Enterprise for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: .......................................................................... Mrs. R Brewin - Trustee Page 14 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRISTIAN ACTION AND RESOURCE ENTERPRISE (REGISTERED NUMBER: 02790390)** ## **Independent examiner's report to the trustees of Christian Action And Resource Enterprise ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** 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 England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Chloe Tams F.C.A. Smethurst & Co LLP 12 Abbey Road GRIMSBY DN32 0HL Date: ............................................. Page 15 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024** **----- Start of picture text -----**
31.3.24 31.3.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 42,907 430,447 473,354 381,116
Charitable activities 5
Core 107,870 - 107,870 43,263
Other trading activities 3 129,078 - 129,078 132,886
Investment income 4 3,787 - 3,787 987
Other income - - - 20,690
Total 283,642 430,447 714,089 578,942
EXPENDITURE ON
Shop expenditure 6 142,993 - 142,993 144,494
Charitable activities 7
Core 158,253 363,243 521,496 374,111
Total 301,246 363,243 664,489 518,605
NET INCOME/(EXPENDITURE) (17,604) 67,204 49,600 60,337
Transfers between funds 22 68,331 (68,331) - -
Net movement in funds 50,727 (1,127) 49,600 60,337
RECONCILIATION OF FUNDS
Total funds brought forward 226,717 133,764 360,481 300,144
TOTAL FUNDS CARRIED FORWARD 277,444 132,637 410,081 360,481
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The notes form part of these financial statements Page 16 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE (REGISTERED NUMBER: 02790390)** ## **BALANCE SHEET 31 MARCH 2024** **----- Start of picture text -----**
31.3.24 31.3.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 14 497,627 - 497,627 214,015
CURRENT ASSETS
Stocks 15 16,263 - 16,263 16,569
Debtors 16 8,604 - 8,604 9,922
Cash at bank and in hand 150,396 132,637 283,033 323,291
175,263 132,637 307,900 349,782
CREDITORS
Amounts falling due within one year 17 (45,642) - (45,642) (34,940)
NET CURRENT ASSETS 129,621 132,637 262,258 314,842
TOTAL ASSETS LESS CURRENT LIABILITIES 627,248 132,637 759,885 528,857
CREDITORS
Amounts falling due after more than one year 18 (349,804) - (349,804) (168,376)
NET ASSETS 277,444 132,637 410,081 360,481
FUNDS 22
Unrestricted funds 277,444 226,717
Restricted funds 132,637 133,764
TOTAL FUNDS 410,081 360,481
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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. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. R Brewin - Trustee The notes form part of these financial statements Page 17 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024** **----- Start of picture text -----**
31.3.24 31.3.23
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 59,022 74,273
Net cash provided by operating activities 59,022 74,273
Cash flows from investing activities
Purchase of tangible fixed assets (292,433) (422)
Interest received 3,787 987
Net cash (used in)/provided by investing activities (288,646) 565
Cash flows from financing activities
-
New loans in year 206,250
Loan repayments in year (16,884) (12,841)
Net cash provided by/(used in) financing activities 189,366 (12,841)
Change in cash and cash equivalents in
the reporting period (40,258) 61,997
Cash and cash equivalents at the
beginning of the reporting period 323,291 261,294
Cash and cash equivalents at the end of
the reporting period 283,033 323,291
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The notes form part of these financial statements Page 18 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024** **----- Start of picture text -----**
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.3.24 31.3.23
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 49,600 60,337
Adjustments for:
Depreciation charges 8,456 8,469
Loss on disposal of fixed assets 365 48
Interest received (3,787) (987)
Decrease/(increase) in stocks 306 (366)
Decrease/(increase) in debtors 1,318 (1,935)
Increase in creditors 2,764 8,707
Net cash provided by operations 59,022 74,273
2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)
At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand 323,291 (40,258) 283,033
323,291 (40,258) 283,033
Debt
Debts falling due within 1 year (12,432) (7,938) (20,370)
Debts falling due after 1 year (168,376) (181,428) (349,804)
(180,808) (189,366) (370,174)
Total 142,483 (229,624) (87,141)
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The notes form part of these financial statements Page 19 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **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. The charity has departed from the Charities SORP and FRS 102 in order to depreciate all freehold property at a rate of 2% on a straight line basis. The treatment required by the Charities SORP and FRS 102 where an asset comprises of two or more major components is that each component should be depreciated separately over its useful life and that the value of land is not depreciated. The trustees consider that depreciating all freehold property at a rate of 2% on a straight line basis reflects the value of the asset for the charity, and have concluded that the accounts present a true and fair view. ## **Incoming resources** 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. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. ## **Resources expended** 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. Raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs, include those costs that assist the work of the charity but do not directly undertake charitable activities and also include governance costs, those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity. ## **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% Straight Line Plant and machinery - 25% Straight Line The charity has a policy to capitalise assets in excess of £250. All fixed assets are included at cost less accumulated depreciation and Trustees carry out an impairment review when they see necessary. ## **Stocks** The Trustees/Directors consider it appropriate to reflect the replacement cost of donated goods and food on hand at the year end as income. Page 20 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Taxation** The charity is exempt from corporation tax on its charitable activities. Irrecoverable VAT is charged to the Statement Of Financial Activities in the period to which it relates. ## **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. 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. ## **Donated goods** Donated goods are recognised in income at sales value when they are sold. General services provided by volunteers and organisations are not recognised in the statement of financial activities. Further details of these are disclosed in the Trustees report. Donated goods for distribution are recognised in the statement of financial activities when distributed at market value as donations and charitable expenditure. ## **Operating lease** Rentals on operating leases are charged to the statement of financial activities based on the terms set out by the lease agreements in place ## **2.** ## **DONATIONS AND LEGACIES** |Gifts and donations
Grants|31.3.24
£
120,241
353,113
473,354|31.3.23
£
53,077
328,039
381,116| |---|---|---| Page 21 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **2. DONATIONS AND LEGACIES - continued** Grants received, included in the above, are as follows: |Help the homeless
National Lottery Community Fund
Lloyds Bank Foundation
Evan Cornish Grassroots Fund
Lincolnshire Community Foundation
Garfield Weston Foundation
The Mercers Charitable Foundation
Sector Support North East Lincolnshire (North Bank Forum)
The Albert Hunt Trust
Charities Trust
The Grocers Charity
NELC
The Beatrice Laing Family Trust
The MSE Charity
East Coast Community Fund
Nationwide Community Grant
National Lottery Awards for All
The Sir Alec Black Charity
Community Organisations Cost of Living Fund
The Henry Smith Charity
Neighbourly Foundation
Forum CIO
Sisters of St Josephs of Peace
The Souter Charitable Trust
Other grants
**3.**
**OTHER TRADING ACTIVITIES**
Shop income
**4.**
**INVESTMENT INCOME**
Interest|31.3.24
£
2,500
98,969
25,000
-
-
25,000
35,500
-
7,000
-
-
9,500
-
-
2,500
-
-
23,404
75,000
28,400
5,690
5,000
5,000
3,000
1,650
353,113
31.3.24
£
129,078
31.3.24
£
3,787|31.3.23
£
-
139,000
27,250
4,000
16,000
25,000
-
1,000
-
1,000
5,000
4,000
5,000
6,750
7,500
50,000
8,300
22,989
-
-
-
-
-
-
5,250
328,039
31.3.23
£
132,886
31.3.23
£
987| |---|---|---| Page 22 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **5. INCOME FROM CHARITABLE ACTIVITIES** |Activity
Property rent receivable
Core
Management charge
Core
**6.**
**SHOP EXPENDITURE**
**Other trading activities**
Staff costs
Office costs
Motor, travel and carriage
Volunteer expenses and training
Premises costs
Insurance
Communication
Equipment hire
Bank charges and interest
Sundries
Waste disposal
Professional fees
Training
Depreciation
**7.**
**CHARITABLE ACTIVITIES COSTS**
Core
**8.**
**SUPPORT COSTS**
Core|Direct
Costs
£
495,256|31.3.24
31.3.23
£
£
97,809
32,050
10,061
11,213
107,870
43,263
31.3.24
31.3.23
£
£
91,994
92,508
1,480
1,419
7,591
8,316
3,789
1,724
12,658
20,489
1,237
1,573
1,119
1,140
1,517
1,482
2,108
1,903
3,393
2,672
4,733
3,776
5,055
909
-
198
6,319
6,385
142,993
144,494
Support
costs (see
note 8)
Totals
£
£
26,240
521,496
Governance
costs
£
26,240| |---|---|---| Page 23 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **9. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): **----- Start of picture text -----**
|||| |---|---|---| |31.3.24|31.3.23| |£|£| |Independent examiners fee and payroll costs|6,650|3,960| |Depreciation - owned assets|8,456|8,469| |Deficit on disposal of fixed assets|365|48| **----- End of picture text -----**
## **10. TRUSTEES' REMUNERATION AND BENEFITS** Mrs. A. M Jones the wife of trustee Mr. D Jones received remuneration as salary during the year of £13,970 (2023 - £12,297). There were no other trustees' remuneration or other benefits for the year ended 31 March 2024 or for the year ended 31 March 2023. ## **Trustees' expenses** No trustees' expenses were paid during the year ended 31 March 2024 (trustees' expenses paid during the year ended 31 March 2023 totalled £56). ## **11. STAFF COSTS** **----- Start of picture text -----**
|||| |---|---|---| |31.3.24|31.3.23| |£|£| |Wages and salaries|392,047|302,984| |Social security costs|19,940|11,090| |Other pension costs|8,989|6,607| |420,976|320,681| |The average monthly number of employees during the year was as follows:| |31.3.24|31.3.23| |Shop|4|5| |General Management|6|3| |Family Housing & Support|8|9| |18|17| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. Fees included in wages, were paid in relation to the CEO role at CARE of £45,500 (2023 - £37,182). Who is also considered to be Key management. Page 24 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** **----- Start of picture text -----**
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 52,777 328,339 381,116
Charitable activities
Core 43,263 - 43,263
-
Other trading activities 132,886 132,886
Investment income 987 - 987
Other income 20,690 - 20,690
Total 250,603 328,339 578,942
EXPENDITURE ON
Shop expenditure 98,994 45,500 144,494
Charitable activities
Core 97,372 276,739 374,111
Total 196,366 322,239 518,605
NET INCOME 54,237 6,100 60,337
RECONCILIATION OF FUNDS
Total funds brought forward 172,480 127,664 300,144
TOTAL FUNDS CARRIED FORWARD 226,717 133,764 360,481
**----- End of picture text -----**
## **13. INDEMNITY INSURANCE** The company has paid £828 (2023 - £806) for insurance in respect of Trustees/Directors' liabilities incurred in connection with the discharge of their duties. Page 25 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **14. TANGIBLE FIXED ASSETS** |Improvements
Freehold
to
property
property
£
£
**COST**
At 1 April 2023
286,942
47,084
Additions
276,846
12,984
Disposals
-
-
At 31 March 2024
563,788
60,068
**DEPRECIATION**
At 1 April 2023
104,161
18,854
Charge for year
5,739
942
Eliminated on disposal
-
-
At 31 March 2024
109,900
19,796
**NET BOOK VALUE**
At 31 March 2024
453,888
40,272
At 31 March 2023
182,781
28,230
**15.**
**STOCKS**
Donated stock
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
VAT
**17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans (see note 19)
Social security and other taxes
Other creditors|Plant and
machinery
£
34,783
2,603
(1,182)
36,204
31,779
1,775
(817)
32,737
3,467
3,004
31.3.24
£
16,263
31.3.24
£
5,006
3,598
8,604
31.3.24
£
20,370
6,613
18,659
45,642|Totals
£
368,809
292,433
(1,182)
660,060
154,794
8,456
(817)
162,433
497,627
214,015
31.3.23
£
16,569
31.3.23
£
7,107
2,815
9,922
31.3.23
£
12,432
2,998
19,510
34,940| |---|---|---| Page 26 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** **----- Start of picture text -----**
18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans (see note 19) 349,804 168,376
19. LOANS
An analysis of the maturity of loans is given below:
31.3.24 31.3.23
£ £
Amounts falling due within one year on demand:
Bank loans 20,370 12,432
Amounts falling between one and two years:
Bank loans - 1-2 years 21,278 13,133
Amounts falling due between two and five years:
Bank loans - 2-5 years 69,993 44,015
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans 258,533 111,228
20. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£ £
Within one year 400 4,800
21. SECURED DEBTS
The following secured debts are included within creditors:
31.3.24 31.3.23
£ £
Bank loans 370,174 180,808
**----- End of picture text -----**
The bank loans are secured by a legal charge over 46-47 Alexandra Road, Cleethorpes, DN35 8LE and 86-88 Victoria Street, Grimsby, DN31 1BG. Page 27 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **22. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
National Lottery Community Fund
Building fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
National Lottery Community Fund
Building fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
National Lottery Community Fund
Building fund
**TOTAL FUNDS**|At 1.4.23
£
226,717
70,445
57,917
5,402
133,764
360,481
follows:|Net
movement
in funds
£
(17,604)
11,609
(20,834)
76,429
67,204
49,600
Incoming
resources
£
283,642
255,049
98,969
76,429
430,447
714,089
At 1.4.22
£
172,480
78,621
49,043
-
127,664
300,144|Transfers
between
At
funds
31.3.24
£
£
68,331
277,444
-
82,054
-
37,083
(68,331)
13,500
(68,331)
132,637
-
410,081
Resources
Movement
expended
in funds
£
£
(301,246)
(17,604)
(243,440)
11,609
(119,803)
(20,834)
-
76,429
(363,243)
67,204
(664,489)
49,600
Net
movement
At
in funds
31.3.23
£
£
54,237
226,717
(8,176)
70,445
8,874
57,917
5,402
5,402
6,100
133,764
60,337
360,481| |---|---|---|---| Page 28 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **22. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
National Lottery Community Fund
Building fund
**TOTAL FUNDS**|Incoming
resources
£
250,603
183,937
139,000
5,402
328,339
578,942|Resources
Movement
expended
in funds
£
£
(196,366)
54,237
(192,113)
(8,176)
(130,126)
8,874
-
5,402
(322,239)
6,100
(518,605)
60,337| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
National Lottery Community Fund
Building fund
**TOTAL FUNDS**|At 1.4.22
£
172,480
78,621
49,043
-
127,664
300,144|Net
movement
in funds
£
36,633
3,433
(11,960)
81,831
73,304
109,937|Transfers
between
funds
£
68,331
-
-
(68,331)
(68,331)
-|At
31.3.24
£
277,444
82,054
37,083
13,500
132,637
410,081| |---|---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
National Lottery Community Fund
Building fund|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
534,245
(497,612)
36,633
438,986
(435,553)
3,433
237,969
(249,929)
(11,960)
81,831
-
81,831| |---|---| ||758,786
(685,482)
73,304| |**TOTAL FUNDS**|1,293,031
(1,183,094)
109,937| Page 29 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **22. MOVEMENT IN FUNDS - continued** National Lottery Community Fund is for a CARE Housing & Community Support project. Funding was received for three years from July 2019, and then a further grant was awarded from September 2022, which tapers off over three years. The Lincolnshire Community Foundation grant funded housing and support salaries. The Mercers' Charitable Foundation grant was received to fund salaries. The Sir Alec Black's Charity funds items donated to clients in need. The Albert Hunt Trust grant was for the cost of a van and driver. The Grocers Charity and East Coast Community Fund grants were for general work of the charity. The Garfield Weston Foundation grant was received for housing and support services. The Nationwide Community Grant was received toward CARE Housing. The National Lottery Awards for All grant was for a funding consultant for CARE development and the MSE Charity grant was for developing financial resilience. ## **Transfers between funds** Transfers into the general fund of £68,331 (2023: £Nil) are in relation to the costs of acquiring the Victoria Street building that have been allocated against restricted income where the restrictions have been met. ## **23. EMPLOYEE BENEFIT OBLIGATIONS** The charity makes contributions into a defined contribution scheme for its employees. The amount charged to the Statement Of Financial Activities during the year was £8,990 (2023 - £6,607). There were no pension amounts outstanding at the 31st March, 2024. ## **24. CONTINGENT LIABILITIES** ## **Landlord Guarantees** During the year, the Company has given guarantees to landlords. These guarantees will only become payable if at the point of vacating, damage has been done to the premises and the vacating tenant does not personally fulfil obligations to the landlord. During the year guarantees amounting to £750 were honoured (2023 - £500 honoured). At the balance sheet date the contingent liability representing landlord guarantees potentially payable amounted to £500 (2023 - £1,000). ## **18 Hainton Avenue** CARE plans to move from Hainton Avenue to the Victoria Street Premises once renovations are complete. A schedule of dilapidation was served from an Independent Commercial Surveyor on behalf of the Landlords of Hainton Avenue in December 2023. It showed costs of £21,317 to bring the property to the standard required by the terms of the lease. There is no provision included within the accounts as we consider the liability to arise when we vacate the premises. We anticipate the overall cost when moving out of Hainton Avenue to be lower as plans are in place to do some repairs to reduce the overall cost. Page 30 **CHRISTIAN ACTION AND RESOURCE ENTERPRISE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **25. RELATED PARTY DISCLOSURES** There were no monetary donations from trustees during the year. Total donations from Trustees during the year ended 31 March 2023 amounted to £5,706. There were no further related party transactions for the year ended 31 March 2024, other than those disclosed at note 10. ## **26. POST BALANCE SHEET EVENTS** Following the financial year-end, the Trustees made the difficult decision to close the Community Support Service. This decision was driven by the tapering off of funding for the service and the charity's inability to secure replacement funding in a highly competitive environment. Despite efforts to sustain the service, reliance on reserves was no longer a viable option, and restructuring was necessary to safeguard the charity's overall financial health. The Trustees developed a plan to restructure operations and ensure CARE's long-term sustainability. This process involved some redundancies and focusing resources on core areas of crisis support and housing where CARE can continue to provide significant support to the community. While closing the Community Support Service was a challenging step, it was an essential part of the strategy to secure CARE's future. Page 31