Company registration number: 03190740 Charity registration number- 1056825 Friary Drop-in Ltd (A covnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended ) l March 2024 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
Friary Drop-in Ltd Contents Reference and Administrative Details Trustees, Report 2to5 Independent Examiner's Report Statement of Financial Activities 7t08 Balance Sheet 9t0 10 Notes to the Financial Statements 11 to21
Friary Drop-in Ltd Reference and Administrative Details Truslees Paul Randle, (Chair) Amanda Bayliss, (Vice Chair) Glenn Aungles. (Treasurer) Timothy Martin Louise Gee Janice Moore James Crew Senior Management Team Ben Talbot. Chief Executive Ann Bremner. General Manager Charity Registration Number 1056825 Company Registration Iyumber 03190740 Registered Otrice 46 Musters Road West Bridgford Nottin2ham Nottinghamshire NG2 7PR Independeni Examiner John O'Brien, employee of Community Accounting Plus Unils l & 2 North West 41 Talbot Sireet Nottingham NGI 5GL Bankers TSB Bank PIC 2 Davies Road Wesi Bridgford Nottingham NG2 5JD CCLA Investment Management Limited The COIF Charities Deposit Fund 80, Ch¢apside London EC2V 6DZ CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ Page I
Friary Drop-in Ltd Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended ) l March 2024. Truslees and officers The trnstees and officers serving during the year and since the year end were as folloivs: Trustees: Paul Rt)ndle. (Chair) Amanda Bayliss, (Vice Chair) Glenn Aungles, (Treasurer) (appointed 2J November 202J) Richard Mccallum. (Vice Chair) (resigned 17 October 2023) Alex Rae (resigned 24 March 2024) Timothy Manin Wenda Power (resigned 27 July 2023) Louise Gee Benedicte Seclin (resigned 24 October 2023) Janice Moore (appointed 25 May 2023) James Crew Structure, governanee and management Nature ofgoverning documelll The charity is a company limited by guarantee aTJd registered charity. It is operated under the rules of its memorandum and articles of association dated 25 April 1996. It has no share capital and the liability of each member in the event of winding-up is limited to £ l. Recruilmenl and appoinlnienl of Iruslees When recruiting new trustees. priority is given to the T]eeds of the Friary and whether a new trustee can bring a new skillset into the organisation. Thi5 year sam. the appointment of a new treasurer following a retirement and a trustee with a marketing background. The organisation will continue to recruit trustees who bring new expertise to the Board. Trustees, who are also directors of the company. are appointed by the member vote at the annual general meeting, although up to ihree may be c(popted during the course of an), accounting year. Full meetings of the trustees are held bi monihly along with the Finance sub committee, whilst the subcommittees for Operations and Community Engagement meet quarterly. Page 2
Friary Drop-in Ltd Trustees, Report Objectives and activities Objects and aims (i) relief of poverty amongst persons living in the Rushcliffe and adjacent districts in the county of Nottinghamshire by the provision or assistance in the provision of facilities and activities to relieve those persons who may be considered to be in necessitous circumstances by being homeless (or in temporary accommodation) or unemployed. (li) the advancement of education amongst such persons by the provision of advice. counselling and inforn]ation suitable and relevant to their need5 and geared toward5 their poverty- and (iii) the provision or assistance in the provision of TecreatiOTJal and other leisure time activities in the interests of social Th'elfare and with the object of improving the condition5 of life for such person5. Objeclives, stralegies and activilie5 In furtherance to the above objects the Friar). s mission is to emp0er hoTnele55 and vulnerable adult5 to rebuild their lives by offering practical services. advice and emotional support. To this end the organisation offered these specific services to beneficiaries during the course olthe reporting year.. Professional advice and referral; GP surgery. Homeless nursing team; Specialist welfare rights advice; Welfare provision of food. clothing. toiletries and household items- * Shower and laundry. Public benefit The principal activity of Friary DroTrln Limited is that of a charitable organisation assisting the homeless, those in temporary accommodation and the unemployed. The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievement5 and performance This financial year saw the return of the Friary Allotment project from January 2024. This wa5 folloH'ing a l O year break and as part of the strategic priority io provide visitors '1th more wellbeing activities. The development of the project was a collaborative effort between volunteers and staff. The launch of the project was only possible following a significant financial contribution from local coinpany Arch Communications. The project sees Friary visitors visit the site from 10am till around l.iopm on a Monday. Wednesday and Friday. Two new allotment staff '¢re recruited and it is hoped thai the project can secure funding to continue beyond its first year. Existing services Th'ithin the DrO[n Centre remained consistent 1th practical, emotional and advice support given to visitors. The Friary. also continued to signpost visitors to appropriate services for housing, debt advice, mental health and addiction services. Exiernal partners were also given the opportunity to meet visitors at the Friary. The 12 month period saw an increase of 420/0 in visits to the cenire (up to 12,887 from 9,049). Page i
Friary Drop-in Ltd Trustees, Report The number of new vi51tors to the Friary increased by 17/0 and there was an increase of 440/0 of people in no fixed abode. The year Saw a significant number of positive outcovnes for Friary vi51tor5 as follows... 71- Moved from homelessness to a¢¢ommodation (temporary or pennanent) 25 - Got a tenancy agreement 26 - Am'arded benefits 18 - Referred for debt advice l O - Opened bank account 7- Secured fornial ID 24 - Moved into employment 14 - Engaged in training 8 - Moved into volunteering 22 - Accessed drugalcohol services 14 Accessed mental health services Despite needing to move locations, the Friary IT room has continued to operate and is a hugely important part of our support service. It's primary aim is to empower visitors with improved IT skills and confidence. This encompasses utilising the computers available on-site as well as assisting visitors in the use of their own devices. The financial year saw the IT room accessed by 189 different visitors. Financial review A5 had been anticipated. there was both a reduction in income and an increase in cost5 for the financial year leading to a significant deficit of circa £ I Iok. This is disappointing but was expected. Income was a5 expected with a reduction following the one off donation from the URC Church in the previou5 financial year. Costs were significantly higher a5 energy, insurance and general costs increased. Staffing leve15 were also back to capacity and reCltment will now only take place if ne. funding can be secured. The Trustees and Senior Management have put in place a budget to bring the finances back to break-even within 2 years whilst retaining appropriate reserves. The funding landscape remains challenging as cosl of living increases have impacted individuals, corporates and other donation sources. We recognise the need to be prudenl in the coming years. Policy on reserves At i I st March 2024. free reserves amount to £368,490 (202J £490.006). This represents approximately 680/0 of annual expenditure {202J'. 1160/0 The reserve levels equate to around 8 months outgoings. In the long temi the Friary. aims to have uncommitted reserves equivalent to a minimum of 6 months average annual expenditure. This policy should be seen as part of the financial management of the Friary. It fonns one of the bases of the budget process. It is not su1Clent to leave the levels of reserves lo chance. Page 4
Friary Drop-in Ltd Trustees, Report Major rlsks andmanq¥em¥ni ofihofje risk5 A4anagemeni of Risk There is %ignifi¢ant risk thai all funding streams will be impa¢t¢d by the on-going cost of living crisis. Do individuals have the income to continue to (k)naie and are trusts and grdnts less ai'ailablc? The Friary is making gi]fIrfit effnrt% tc) ensure there is a fundrdising Strnte that addresses income streams. The other financial risk of increased costs is also reviewed * bi monthly finance committee meeting5. Ststement of Responsibilities The trusiees (Ivho are also the directors of Friary Dropin Ltd for the purwses of company law) are resrK)nsible for preparing the tn]siees' report and the financial stal¢ments in accordance with applicable law and United Kingdom Accounting Sw)dards (United Kingdom Gcncrally A¢cepted Accounting Practi¢e), including FRS 102 "The Financial R¢p)rting Standard applicable in the UK and Rcpublic of Ireland" The report and aOuntS ht*ve been prepared in &¢cord8nce with the provisions in the Companies Act 2006 relating to small companies. Company law requires the trust¢es to prepare financia] stslements for each financia] year. Under company law the trU8tees must not approve the financial Sternents unless they are satisfied thai they give a true and fair view of the slate of affairs of the charitable company and of th¢ incoming resources and application of resources, including its income and expenditure, of the charitsble company for that period. In preparin8 these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently- observe the methods and principles in the Chariiies SORP- make judgements and estimates that are reasonable and prudenL slate whether applicable aecounling standards, wmprising FRS 102 have been followe& subject to any material departures disc105ed and explained in the financia] staments. and prepare the financial statements on the going concern basis unl&8s it is Inappropria presume thai the charitsble company will continue in business. The trustees are resw)n5ible for keeping proper a¢¢ounting records thai can di10$¢ with reasonable accuracy al any time the financi81 position of ihe charitable company and enable them to ensure that the financial 51atements cotnply with the Companies Act 2006. They are also reswnsible for safeguarding the assets of the charitsble ompany and hence for takÉng reasonable stcps for the prevcntion and detection of fraud and other irregularities. The trustees are responsible for the maintenan¢e and integrity of the corpordte and financial inforniation included on the charitable company's websi. Legislation governing the preparation and dissemination of financial staicmenTS may ditTcr IrBislaiioi) in othci jurisdiciion5. Small tompanies provision ststement This rewrt has been prepared in accordance with the small cnmpanies regime Lmder the Compani¢s Act 2006. nual rc rt was approved by the trus of the charity on 18 Novemlxr 2024 and signed on its beha]f by: Paul Randle Tru5tec Pagc 5
Friary Drop-in Ltd Independent Examiner's Report to the trustees of Friary Drop-in Ltd ('the Company,) Independent examiner's report to Ihe Irustees of Friary Dropin Ltd ('the Companv,) I report to the charity trustee5 on my examination of the accounts of the company for the year ended 31 March 2024. Responsibilities and basis of report A5 the charity'5 trustees of the Company (and also its director5 for the purpose5 of company law) you are responsible for the preparation olthe 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 ?01 l Act,). Jn carrying out my examination I have followed ihe Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250.000 your examiner must be a mernber of a body listed in section 145 of the 201 l Act. I confinn that l am qualified to undertake the examination because l am a member and Fellow of the Association of Charity Independent Examiners. which is one of the listed bodies. I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe that in any material re5pect- 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 J96 of the 2006 Act other than any requirement that the accounts give a 'true and fairf 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. John O'Brien Mbc, FAIA, FLCA. FCIE. employee of Community A¢couTJting Plus Fellow of the A$SlatIOn of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 2211112024
Friary Drop-in Ltd Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unreslrieled funds Restricted funds Totsl 2024 Total 2023 Note Ineome and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 269,77) 7.158 26,648 14,667 269,773 117,?02 26,648 14,667 383,299 76,095 20,461 6,964 110,044 Total income J18,246 110,044 428,290 486,819 Expendilure on: Charitable activities (182.J98) (J59,737) (542,135) (423,816) Total expenditure Gainsllosses on investment assets (182,J98) (J59,737) (542,135) (42J,816) (2,031) Net incomel(expenditure) Transfers between funds lJ9,)00 (260.816) (249,69)) 260,816 (I10.J9J) 60,972 Net movement in funds (121,516) 11,123 (110,393) 60,972 Reconciliation of funds Total funds brought forward 490,006 490,006 429,034 Total funds carried fOard 21 J68.490 J79,61J 490,006 All of the charity's activitie5 derive from continuing operation5 during the above two periods. The funds breakdown for the period is shown in note 21. The notes on pages I I to 21 forni an integral part of these financial statements. Page 7
Friary Drop-in Ltd Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for comparative purposes Unrestricted Reslrieled Total funds fund5 2023 Notc Income and Endowments from: Donations and legacies Charitable activiiies Other trading activities Investment income J8J,299 383,299 76,095 20,461 6,964 76,095 20,461 6,964 Total income 410,724 76,095 486,819 Expenditure on: Charitable activities (165.683) (258,133) (423,816) Total expenditure Gains/losses on investment assets (165.683) (9.031) (258,133) (423,816) (2,031) Net incomel(expenditure} Transfers between funds 24J,010 (182.OJ8) (182,038) 189,OJ8 60,972 Net movement in funds 60,972 60,972 Reconeiliation of funds Total funds brought fOard 4?9,OJ4 429,034 Total funds carried fon¥ard 21 490,006 490,006 The notes on pages I I to 21 forni an integral part of these financial statements.
Friary Drop-in Ltd (Registration number: 03190740) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assels Tangible assets Investments 451 51,380 12 Current assets Debtors Cash at bank and in hand 13 14 16,538 393,588 13,947 449,856 410,126 463,80) Creditors: Amounts falling due wilhin one year (11,276) (25,628) Net eurrent assets 398,850 438,175 Total assets less current liabilities 398,850 490,006 Provisions 17 (19,237) Net a55ets J79,61) 490,006 Funds of the charity: Restricted income funds Restricted funds 21 Unrestricted income funds Unrestricted funds 368,490 490,006 Total funds 21 J79,61) 490,006 For the financial year ending J l March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages I I to 21 forni an integral part of these financial statements. Page 9
Friary Drop-iD Ltd (Registration number: 03190740) Balance Sheet as at 31 Mareb 2024 The financial slatements on pages 7 to 21 were approved by the trustees. and authorised for issue on 18 November 2024 and si ed on their beha]f by: gles Trustee The notcs on pages I I 21 form an integral part of these financial statemenLS. Page 10
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 l Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Othenvi5e stated. Slatement of compliance The financial statements have been prepared in accordance with 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 I O?)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK aTJd Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparalion Friary Drop-in Ltd meets the definilion of a publlc benefit enlity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaciion value unless otherwise stated in the relevant accoLmting policy notes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Exemption from preparing a eash flo)v Statement Under the exemption available to smaller charitie5 the Board of Trustees has chosen not to include a Statement of Cash Flows Wlthin the financial statetnents. Income and endowments Voluntary income including donation5, gift5, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income. it IS Probable that the income will be received and the amount can be measured with sufficient reliability. Donalions and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the funds: the income is deferred av]d not recognised until either those conditions are fully met, or the fulfilmeni of those conditions is wholly wiihin the Control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis folloii'"ing the grant of probate when the administratorlexecutor for the estate has communicaied in writing both the amount and settle]ent date. In the event that the gift is in the form of an asset oiher than cash or a financial asset traded on a recognised stock exchange, recognilion is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity. Pagell
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Gran15 receivable Grants are recognised when ihe charity has an entitlement io ihe funds and any conditions linked to the grants have been met. Where perfomance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Inve51ment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basls conslslent with the use of resources, with central staff costs allocated on the basis of time spenl. and deprecialion charges allocated on the portioi) of the asset's use. Other support costs are allocated based on the spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneflciaries. It includes both costs that can be allocated direcily to such activiiies and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter J Part I l of the Corporation Tax Act 2010 or Section ?56 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charltable PUTP05es. Tangible fixed a55ets Individual fixed assets costing £2,000.00 or more are initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost OT valuation, le55 any estimated residual value: over their expected useful economic life as folloM'.5- Asset class Depreciation method and rate straight line basis over the lifetime of the relevant lease 15 /0 on a reducing balance basis 200/0 on a straight line ba51S Leasehold improvements General equiptnent Vehicles Page 12
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Fixed assel investments Fixed asset investments, other than progrdmme relaied inveslments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference be'een sales proceeds and their market value at the start of the year. or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movemenl in markel values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initiall! at the transaction price. They are subsequently measured at amortised cost using the effective interest metho(L less provision for impairn]ent. A provision for the impairnient of trade debtors is established when there 15 objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-terni hIlY liquid investments that are readily convertible to a knoMTr amount of cash and are subject to an insignificant risk of change in value. Provisions Provisions are recognised when the charity has an obligaiion at the reporting date as a result of a past event. it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. Fund struclure Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those grants lor use in a particular area or for specific purpose5, the use of which is restricted to that area or purpose. Pensions and other post retirement obligation5 The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year. Page li
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 2 Income from donations and legacies Unrestricted Totsl 2024 Total 2023 General Donations and legacies. Donations from companie5, trusts and similar proceeds Donations from individuals & groups Legacies Gift aid reclaimed Grants. including capital grants: Government grants 63,080 1 fv1.867 10,000 63,080 164,867 10,000 26,226 155,002 190,489 335 32,473 5.600 5,600 5,000 269,77) 269,77) 383,299 3 Income from charitable activities Unrestricted funds General Restricted fund5 Total 2024 Total 2023 Grants & donations Sales Laundry & lunches 110.044 110,044 7,027 76.095 7.027 7,158 110,044 117,202 76,095 4 Income from other trading aclivilies Unrestricted Total 2024 Total 2023 General Local fundraising 26,648 26,648 20,461 26,648 26,648 20,461 5 Investment ineome Unrestricted funds General Total 2024 Total 2023 Interest receivable and similar income; Interest receivable on bank deposits 14,667 14,667 6,964 Page 14
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 6 Grants & donations Unrestricted (unds Restrieted funds Total National Lottery Community Fund Nottinghamshire County Council The Thomas Farr Charity The Jones 1986 Charitable Trust The Lady Hind Trust Winnifred Eileen Kemp Trust The Greenivood Christian Trust Rushcliffe Borough Council The Dunn Family Trust Anonwious funders Rushcliffe BC Councillor5 Sir John Eastwood Foundation The Mary Robert50n Trust The Jessie Spencer Trust The Gray Trust The Sage Trust The Pretty Flamingo Charitable Trust Nottinghamshire CC Councillors G T Littlefair Trust Fund The Saved to Serve Trust Donations from individuals & groups Churches Corporate support Legacy Gift Aid 51,850 51,850 12,223 5,000 5,000 5,000 7,000 5,200 5,000 4,000 2,500 2,372 2,000 2,000 1,000 1,000 1,000 900 600 500 500 172,845 5.000 5.000 5.000 7,000 5,000 4,000 2,500 2,372 2,000 2,000 1,000 1,000 1,000 900 600 500 500 164.867 7,978 19,487 10,000 11,621 i 0,000 26,226 269,77J 110,044 J79,817 Page 15
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 7 Expenditure on charitable activities Unrestricted funds General Restricted funds Totsl 2024 Total 2023 Cleaning Costs of fundraising Communication5 Depreciation Insurance IT software & maintenance Marketing Payroll service Legal & professional fees Rent & services Repairs & maintenance Resources & equipment Salaries, Nl & pension Staff expenses Stationery & office expenses Subscriptions Training Utilities Vehicle costs Welfare expenses Recruitment 562 3,981 5,316 451 7,159 5,690 2,094 1,400 9,670 10,232 3,981 6,568 451 7,850 9,714 2,094 1,400 8,508 36,526 26,501 14,068 J65,499 317 1,429 792 4,661 2,202 6,282 2,703 7,199 8,155 1,607 1,389 11.174 40,695 5,356 2,342 297,409 1,252 691 4,024 8.028 28,498 7,062 13,695 250.4)0 206 15.069 .051 792 951 855 18,900 3,126 7,106 216 1.408 26,097 4.495 8,806 2.050 28,147 4,495 25 94 94 18? 398 )59,7J7 542,135 423,816 8 Iyet incomingloutgoing resources Net (outgoing)lincoming resources for the year include= 2024 2023 Depreciation of fLxed assets 451 9 Taxation The charity is a registered charity and is therefore exempt from taxation. Page 16
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 10 Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff cosls during the year were: Wages and salaries Social security costs Pension costs J32,100 21,866 271,979 16,968 8,462 365,499 297,409 The monthly average number of persons (including senior management team} employed by the charity during the year was as follows.. 2024 2023 Average number of employees 14 11 (202J 9) of the above employees parlicipated in the Defmed Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £11,53J (2023 - £8,462). No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management personnel of the charity were £97.161 (2023 - £91,673). 1 l Tangible fixed assets Leasehold improvemenls General equipment Vehicles Total Cost At l April 202J lJ6,41J 16,118 189,691 At J l March 2024 lJ6,41J 16,118 189,691 Depreciation At l April 2023 Charge for the year 136,41J 15,667 451 189,240 451 At 31 March 2024 136,41J 37,160 16,118 189,691 Net book value At J l March 2024 At J l March 2023 451 451 Page17
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 12 Fixed a55et investments 2024 2023 Other investments 51,380 Other investments Listed investments Total Cost or Valualion At l April 2023 Revaluation Disposals (54,832) (54,832) At 31 March 2024 Net book value At 31 March 2024 At J l March 2023 51,380 51,380 13 Debtors 2024 2023 Prepayments Other debtors 10,594 5,944 9,795 4.152 14 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 418 J9J,170 428 449,428 J9J,588 449,856 15 Creditors: amounts falling due wiihin one year 2024 2023 Other creditor5 Accruals Deferred income 590 10,686 1,049 13,008 11,571 11,276 25,628 Page18
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 16 Obligations under leases and hire purchase contracts The company has the following leases for premises= one for J4a Musters Road which is a 5 )'ear lease from 29 November ?0? I, with a break clause after J )'ears. annual rent £1 ?,750- a lease for 34 Musters Road which is a J year lease from 24 August 2021. with a break clause after 18 months. annual rent £ I I,OOO' and a lease for the Rooms in the Friary United Refonned Church M'hich was initially a l O year lease from l April 2015, annual rent £2,500 (with an inflationary increase each year) and this has now been exfrnded on the same tern]s from l April 2025 through to 31 December 20?9. The trustees have decided to apply the break clause for the lease of 34a Muster5 Road and it has been agreed with the landlord that the lease for J4 Musters Road will continue on a rolling basi5 after the end of the fixed terni lease on the 2Jrd Auuust 2024. The total value of future minimum lease payments was as follows: 2024 2023 Within one year In two to five years In over five years 27,526 16,185 7,690 16,649 51,401 17 Provisions Lease dilapidation5 Total Charged to the statement of financial aaivilies (19,237) (19,2J7) As the trustees have taken the decision to apply the break clause for the lease of J4a Musters Road and therefore terminate the lease on the 28th November 2094. £19,2)7 has been provided for dilapidations, which the trustees consider appropriate under the circutnstances. 18 Charity status The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 19 Trustees remuneration and expen5e5 No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Page 19
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 20 Fees payable to indepeTJdent examiner During the period. the fees payable (excluding VAT) to the charity's independent examiner Community Accounting Plus are analysed as follo.5= 2024 2023 Independent examination Other financial services 1,125 1,166 1,035 1,217 2,?91 2,252 21 Funds Balance at l April 2023 Other Balance at recognised 31 March Transfers gainsl(1055es) 2024 Incolning Resources resources eipended Unrestricted funds General General fund 490,006 J18.246 (182,398) (260.816) 3,452 368,490 Restricted funds Day Centre IT Advice Centre Allotment fv1,499 10,500 9.723 (265.060) (23,384) (57,094) (14,199) 200,561 19,884 47,371 Total restricted fund5 110.044 {J59.737} 260,816 Tot21 funds 490,006 4?8,290 (542,135) 3,452 379,613 The specific purposes for which the funds are to be applied are as follows: The Day Centre fund shows the income raised and donaied towards the running of the Friary drop-in day centre and the income was from many sources. The Advice Centre fund shows the incorne. from Nottinghamshire County Council's Local Communities Fund, which was received in relation to the advice centre and the related expenditure. The Allotment project fund shows income which was received from Arch Communications and Coop Local Community Fund in relation to our allotment project and the related expenditure. The IT fund, received funding from The Sir John EasN'ood Trust: The Lady Hind Trust; The Gray Trust & an anonymous funder. The funding was all spent during the year on the IT support service offered to our visitors. The transfers from the General fund to the Day Centre fund The Advice Centre fund and the IT fund is to cover the deficit on these activities: which cost more to run than the restricted funding received towards each project. Page 20
Friary Drop-in Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Balance Other Balance at recognised 31 March Transfers gains/(losses) 2023 April 2022 Incoming Resources resourees expended Unrestricted funds General General fund 429,OJ4 410.724 (165,68J) (182,038) (2,OJ l ) 490,006 Restricted Day Centre Advice Centre Allotment (212,438) (45.486) (209) 171 ?75 10,763 209 Total restricted fund5 76,095 (258.13)) 18?,OJ8 Total funds 429,034 486,819 {42J.816) (2.031) 490,006 22 Analysis of net assets between funds Unrestricted 2024 Total funds General Restrieled Current assets Current liabilities Provisions J99,OOJ {11,276) {19.?37) 410,126 (11,276) (19,237) Total net assets )68,490 11,123 379,613 Unrestricted 2023 Total funds General Tangible fixed assets Fixed asset investments Current assets Current liabilities 451 51,380 46J,80) (25,628) 451 463,80) (25,628) Total net assets 490,006 490,006 23 Related party transaetions There were no related party transactions in the year. Page21