Company registration number: 03190740 Charity registration number: 1056825
## Friary Drop-in Ltd
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
## **Friary Drop-in Ltd**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7 to 8|
|Balance Sheet|9 to 10|
|Notes to the Financial Statements|11 to 21|
## **Friary Drop-in Ltd**
## **Reference and Administrative Details**
**Trustees** Paul Randle, (Chair) Amanda Bayliss, (Vice Chair) Glenn Aungles, (Treasurer) Timothy Martin James Crew Isabella Money John Heard Peter Stansbury Jason Williamson **Senior Management Team** Ben Talbot, Chief Executive Ann Bremner, General Manager **Charity Registration Number** 1056825 **Company Registration Number** 03190740 **Registered Office** 46 Musters Road West Bridgford Nottingham Nottinghamshire NG2 7PR **Independent Examiner** Eva Stevens, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL **Bankers** TSB Bank Plc 2 Davies Road West Bridgford Nottingham NG2 5JD CCLA Investment Management Limited The COIF Charities Deposit Fund 80, Cheapside London EC2V 6DZ CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Page 1
## **Friary Drop-in Ltd**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2025.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Paul Randle, (Chair) Amanda Bayliss, (Vice Chair) Glenn Aungles, (Treasurer) Timothy Martin Louise Gee (resigned 2 September 2025) Janice Moore (resigned 21 February 2025) James Crew Isabella Money (appointed 29 May 2025) John Heard (appointed 25 September 2025) Peter Stansbury (appointed 29 May 2025) Jason Williamson (appointed 25 September 2025)
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 25 April 1996 and most recently amended 7th April 2025. It has no share capital and the liability of each member in the event of winding-up is limited to £1.
## _**Recruitment and appointment of trustees**_
When recruiting new trustees, priority is given to the needs of the Friary and whether a new trustee can bring a new skillset into the organisation. Four new trustees have recently joined the organisation.
Trustees, who are also directors of the company, are appointed by the member vote at the annual general meeting. Full meetings of the trustees are held bi monthly along with the Finance sub committee, whilst the subcommittees for Operations and Community Engagement meet quarterly.
## **Objectives and activities**
## _**Objects and aims**_
(i) relief of poverty amongst persons 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;
(ii) the advancement of education amongst such persons by the provision of advice, counselling and information suitable and relevant to their needs; and
(iii) the provision or assistance in the provision of recreational and other leisure time activities in the interests of social welfare and with the object of improving the conditions of life for such persons.
Page 2
## **Friary Drop-in Ltd**
## **Trustees' Report**
## _**Objectives, strategies and activities**_
In furtherance to the above objects the Friary’s mission is to empower homeless and vulnerable adults 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 of the 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 Drop-In Limited is that of a charitable organisation assisting the homeless, those in temporary accommodation and the unemployed.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
Existing services within the Drop-In Centre remained consistent with 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. External partners were also given the opportunity to meet visitors at the Friary. The 12-month period saw an increase of 2.4% in visits to the centre (up to 13,201 from 12,887).
The allotment project continued to evolve to a point where we felt able to make an application to the National Lottery for longer term funding. We were fortunate enough to be successful with this bid and the project will be funded from April 2025 for a three-year period.
The year saw a significant number of positive outcomes for Friary visitors as follows:
- 74 - Moved from homelessness to accommodation (temporary or permanent)
- 18 - Got a tenancy agreement
- 49 - Awarded benefits
- 23 - Referred for debt advice
- 7 - Opened bank account
- 16 - Secured formal ID
- 17 - Moved into employment
- 4 - Engaged in training
- 8 - Moved into volunteering
- 11 - Accessed drug/alcohol services
- 12 - Accessed mental health services
The Friary IT room has continued to operate effectively 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 device. The financial year saw the IT room accessed by 170 different visitors.
Page 3
## **Friary Drop-in Ltd**
## **Trustees' Report**
## **Financial review**
The year's financial performance exceeded our expectations. We had forecast another deficit, with a further year before we got towards a break-even position. Whilst we have ended the year with a small deficit, it is nowhere near the level previously forecast.
The budget for the coming year is set to achieve a break-even position, however, we are mindful that we are in continued challenging times. Achieving this will require focused financial management throughout the year.
## _**Policy on reserves**_
At 31st March 2025, free unrestricted reserves amounted to £372,079 (2024: £368,490). This represents approximately 78.6% of annual expenditure (2024: 68.0%).
The reserve levels equate to around 9 months outgoings. In the long term the Friary aims to have uncommitted reserves equivalent to a minimum of six month average annual expenditure. This policy should be seen as part of the financial management of the Friary. It forms one of the bases of the budget process. It is not sufficient to leave the levels of reserves to chance.
## _**Major risks and management of those risks**_
## _Management of Risk_
There is significant risk that all funding streams will be impacted by the current cost of living crisis. Do individuals have the income to continue to donate and are trusts and grants less available? The Friary is making significant efforts to ensure there is a fundraising strategy that addresses income streams.
The other financial risks of increased costs are also reviewed at bi monthly finance committee meetings. The Trustees and Senior Management have put in place a forecast/budget to maintain the finances at break-even levels whilst retaining appropriate reserves.
The funding landscape remains challenging as cost of living increases have impacted individuals, corporates and other donation sources. We recognise the need to be prudent in the coming years.
## **Statement of Responsibilities**
The trustees (who are also the directors of Friary Drop-in Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 4
## **Friary Drop-in Ltd**
## **Trustees' Report**
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Small companies provision statement**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 11 November 2025 and signed on its behalf by:
......................................... Paul Randle Trustee
Page 5
## **Friary Drop-in Ltd**
## **Independent Examiner's Report to the trustees of Friary Drop-in Ltd ('the Company')**
## **Independent examiner’s report to the trustees of Friary Drop-in Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025.
## **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 the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Public Finance and Accountancy (CIPFA), 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 that in any material respect:
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.
...................................... Eva Stevens, BSc, CPFA, employee of Community Accounting Plus member of the Chartered Institute of Public Finance and Accountancy (CIPFA)
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Date:.............................
Page 6
## **Friary Drop-in Ltd**
## **Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
**Expenditure on:**
Charitable activities
7
Total expenditure
Gains/losses on investment
assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20|**Unrestricted**
**funds**
**£**
341,884
-
57,677
12,719
412,280
(163,398)
(163,398)
-
248,882
(241,927)
6,955
368,490
375,445|**Restricted**
**funds**
**£**
-
55,565
1,106
-
56,671
(309,721)
(309,721)
-
(253,050)
241,927
(11,123)
11,123
-|**Total**
**2025**
**£**
341,884
55,565
58,783
12,719
468,951
(473,119)
(473,119)
-
(4,168)
-
(4,168)
379,613
375,445|**Total**
**2024**
**£**
269,773
117,202
26,648
14,667|
|---|---|---|---|---|
|||||428,290|
|||||(542,135)|
|||||(542,135)
3,452|
|||||(110,393)
-|
|||||(110,393)
490,006|
|||||379,613|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 20.
The notes on pages 11 to 21 form an integral part of these financial statements. Page 7
## **Friary Drop-in Ltd**
## **Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
## **These are the figures for the previous accounting period and are included for comparative purposes**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
**Expenditure on:**
Charitable activities
7
Total expenditure
Gains/losses on investment assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20|**Unrestricted**
**funds**
**£**
269,773
7,158
26,648
14,667
318,246
(182,398)
(182,398)
3,452
139,300
(260,816)
(121,516)
490,006
368,490|**Restricted**
**funds**
**£**
-
110,044
-
-
110,044
(359,737)
(359,737)
-
(249,693)
260,816
11,123
-
11,123|**Total**
**2024**
**£**
269,773
117,202
26,648
14,667|
|---|---|---|---|
||||428,290|
||||(542,135)|
||||(542,135)
3,452|
||||(110,393)
-|
||||(110,393)
490,006|
||||379,613|
The notes on pages 11 to 21 form an integral part of these financial statements. Page 8
## **Friary Drop-in Ltd**
## **(Registration number: 03190740) Balance Sheet as at 31 March 2025**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
13
**Creditors: Amounts falling due within one year**
14
**Net current assets**
**Total assets less current liabilities**
**Provisions**
16
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
20
**Unrestricted income funds**
Unrestricted funds
**Total funds**
20|**2025**
**£**
3,366
18,298
385,307
403,605
(12,289)
391,316
394,682
(19,237)
375,445
-
375,445
375,445|**2024**
**£**
-
16,538
393,588|
|---|---|---|
|||410,126
(11,276)|
|||398,850|
|||398,850
(19,237)|
|||379,613|
|||11,123
368,490|
|||379,613|
For the financial year ending 31 March 2025 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 11 to 21 form an integral part of these financial statements. Page 9
## **Friary Drop-in Ltd**
## **(Registration number: 03190740) Balance Sheet as at 31 March 2025**
The financial statements on pages 7 to 21 were approved by the trustees, and authorised for issue on 11 November 2025 and signed on their behalf by:
......................................... Glenn Aungles Trustee
The notes on pages 11 to 21 form an integral part of these financial statements. Page 10
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **1 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 policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement 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 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Friary Drop-in Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting 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 cash flow statement**
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
## **Income and endowments**
Voluntary income including donations, gifts, 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.
## _**Donations 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 performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within 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 following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition 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.
Page 11
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance 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.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
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 aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
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.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 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 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
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 or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Leasehold improvements|straight line basis over the lifetime of the
relevant lease|
|General equipment|15% on a reducing balance basis|
|Vehicles|20% on a straight line basis|
Page 12
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is 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-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Provisions**
Provisions are recognised when the charity has an obligation 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 structure**
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 for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
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 13
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from companies, trusts and similar
proceeds
Donations from individuals & groups
Legacies
Gift aid reclaimed
Grants, including capital grants;
Government grants
**3**
**Income from charitable activities**
Grants & donations
Sales
Laundry & lunches|**Unrestricted**
**General**
**£**
124,644
180,245
-
31,745
5,250
341,884
**Restricted**
**funds**
**£**
55,545
-
20
55,565|**Total**
**2025**
**£**
124,644
180,245
-
31,745
5,250
341,884
**Total**
**2025**
**£**
55,545
-
20
55,565|**Total**
**2024**
**£**
63,080
164,867
10,000
26,226
5,600|
|---|---|---|---|
||||269,773|
||||**Total**
**2024**
**£**
110,044
7,027
131|
||||117,202|
## **4 Income from other trading activities**
|**Unrestricted**
**General**
**£**
Local fundraising
57,677
57,677
**5**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits|**Restricted**
**£**
1,106
1,106
**Unrestricted**
**funds**
**General**
**£**
12,719|**Total**
**2025**
**£**
58,783
58,783
**Total**
**2025**
**£**
12,719|**Total**
**2024**
**£**
26,648|
|---|---|---|---|
||||26,648|
||||**Total**
**2024**
**£**
14,667|
Page 14
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
|**6**
**Grants & donations**
Nottinghamshire County Council
Mary Potter Convent Hospital Trust
The Gemini Fund
The Jones 1986 Charitable Trust
The Lady Hind Trust
Oliver Borthwick Memorial Trust
Winnifred Eileen Kemp Trust
Rushcliffe Borough Council
The Dunn Family Trust
Garfield Weston Foundation
Samworth Foundation
Sir John Eastwood Foundation
The Mary Robertson Trust
The Jessie Spencer Trust
The Gray Trust
The Sage Trust
The Pretty Flamingo Charitable Trust
Nottinghamshire CC Councillors
Rushcliffe BC Councillors
Greenwood Christian Trust
Russell Family Trust
Critchley Charitable Trust
J N Derbyshire Trust
St James' Place Foundation
The Thomas Farr Charity
Anonymous donations
Other Trusts < £1000
Donations from individuals & groups
Churches
Corporate support
Gift Aid|**Unrestricted**
**funds**
**£**
-
-
-
-
-
-
7,000
5,000
4,000
30,000
10,000
-
-
-
-
2,100
900
-
250
4,875
1,000
5,000
-
2,500
-
-
-
180,245
31,301
25,969
31,744
341,884|**Restricted**
**funds**
**£**
9,723
5,000
5,532
5,000
5,000
5,000
-
500
-
-
-
2,000
2,000
1,000
1,000
-
-
200
-
-
-
-
3,000
-
3,000
2,500
500
3,440
-
1,150
-
55,545|**Total**
**£**
9,723
5,000
5,532
5,000
5,000
5,000
7,000
5,500
4,000
30,000
10,000
2,000
2,000
1,000
1,000
2,100
900
200
250
4,875
1,000
5,000
3,000
2,500
3,000
2,500
500
183,685
31,301
27,119
31,744|
|---|---|---|---|
||||397,429|
Page 15
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **7 Expenditure on charitable activities**
|Cleaning
Costs of fundraising
Communications
Depreciation
Insurance
IT software & maintenance
Marketing
Payroll service
Legal & professional fees
Rent & services
Repairs & maintenance
Resources & equipment
Salaries, NI & pension
Staff expenses
Stationery & office expenses
Subscriptions
Training
Utilities
Vehicle costs
Welfare expenses
Recruitment|**Unrestricted**
**funds**
**General**
**£**
250
6,022
5,718
-
7,738
5,278
2,599
1,343
2,011
12,022
44
280
114,805
162
855
694
-
3,143
-
20
414
163,398|**Restricted**
**funds**
**£**
8,395
-
1,150
273
794
2,280
-
-
-
25,755
11,353
6,820
220,354
244
145
-
114
17,042
3,096
11,906
-
309,721|**Total**
**2025**
**£**
8,645
6,022
6,868
273
8,532
7,558
2,599
1,343
2,011
37,777
11,397
7,100
335,159
406
1,000
694
114
20,185
3,096
11,926
414
473,119|**Total**
**2024**
**£**
10,232
3,981
6,568
451
7,850
9,714
2,094
1,400
8,508
36,526
26,501
14,068
365,499
317
1,429
792
4,638
28,147
4,495
8,831
94|
|---|---|---|---|---|
|||||542,135|
## **8 Net incoming/outgoing resources**
Net outgoing resources for the year include:
Depreciation of fixed assets
|**2025**||**2024**||
|---|---|---|---|
|**£**||**£**||
||273||451|
## **9 Taxation**
The charity is a registered charity and is therefore exempt from corporation taxation.
Page 16
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **10 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2025**
**£**
303,524
20,022
11,613
335,159|**2024**
**£**
332,100
21,866
11,533|
|---|---|---|
|||365,499|
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
|Average number of employees|**2025**
**No**
13|**2024**
**No**
15|
|---|---|---|
10 (2024 - 11) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £11,613 (2024 - £11,533).
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 (2024 - £97,161).
## **11 Tangible fixed assets**
|**Cost**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024|**Leasehold**
**improvements**
**£**
136,413
-
136,413
136,413
-
136,413
-
-|**General**
**equipment**
**£**
37,160
3,639
40,799
37,160
273
37,433
3,366
-|**Vehicles**
**£**
16,118
-
16,118
16,118
-
16,118
-
-|**Total**
**£**
189,691
3,639|
|---|---|---|---|---|
|||||193,330|
|||||189,691
273|
|||||189,964|
|||||3,366|
|||||-|
Page 17
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **12 Debtors**
|Prepayments
Other debtors
**13 Cash and cash equivalents**
Cash on hand
Cash at bank
**14 Creditors: amounts falling due within one year**
Other creditors
Accruals
Deferred income|**2025**
**£**
8,347
9,951
18,298
**2025**
**£**
399
384,908
385,307
**2025**
**£**
1,565
5,751
4,973
12,289|**2024**
**£**
10,594
5,944|
|---|---|---|
|||16,538|
|||**2024**
**£**
418
393,170|
|||393,588|
|||**2024**
**£**
590
10,686
-|
|||11,276|
## **15 Obligations under leases and hire purchase contracts**
The company has the following leases for premises: one for 34a Musters Road and one for 34 Musters Road, annual rents £12,000 and £13,200 respectively. These two leases run from 01/06/2025 to 31/05/2028 with an annual break clause; and there is another lease for the Rooms in the Friary United Reformed Church which was initially a 10 year lease from 1 April 2015, annual rent £2,500 (with an inflationary increase each year) and this has now been extended on the same terms from 1 April 2025 through to 31 December 2029.
The total value of future minimum lease payments was as follows:
|Within one year
In two to five years
In over five years|**2025**
**£**
8,187
16,011
-
24,198|**2024**
**£**
12,330
16,649
3,349|
|---|---|---|
|||32,328|
Page 18
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **16 Provisions**
|At 1 April 2024 and 31 March 2025|**Lease**
**dilapidations**
**£**
(19,237)|**Total**
**£**
(19,237)|
|---|---|---|
The trustees have taken the decision to renew the lease of 34a Musters Road. Despite this, the charitable company remains liable for dilapidations on the lease and therefore the £19,237 previously provided for dilapidations, which the trustees consider appropriate under the circumstances, has been maintained.
## **17 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.
## **18 Trustees remuneration and expenses**
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.
## **19 Fees payable to independent examiner**
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
|Independent examination
Other financial services|**2025**
**£**
1,150
1,125
2,275|**2024**
**£**
1,125
1,166|
|---|---|---|
|||2,291|
Page 19
## **Friary Drop-in Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **20 Funds**
|**20 Funds**||||||
|---|---|---|---|---|---|
|**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Day Centre
Advice Centre
Allotment
**Total restricted funds**
**Total funds**|**Balance at 1**
**April 2024**
**£**
368,490
-
-
11,123
11,123
379,613|**Incoming**
**resources**
**£**
412,280
39,916
9,723
7,032
56,671
468,951|**Resources**
**expended**
**£**
(163,398)
(252,942)
(38,624)
(18,155)
(309,721)
(473,119)|**Transfers**
**£**
(241,927)
213,026
28,901
-
241,927
-|**Balance at**
**31 March**
**2025**
**£**
375,445
-
-
-|
||||||-|
||||||375,445|
The specific purposes for which the funds are to be applied are as follows:
The Day Centre fund shows the income raised and donated towards the running of the Friary drop-in day centre and the income was from many sources.
The Advice Centre fund shows the income, 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.
Last year there was also the IT fund, which received funding from The Sir John Eastwood Trust; The Lady Hind Trust; The Gray Trust & an anonymous funder. The funding was all spent during last year on the IT support service offered to our visitors.
The transfers from the General fund to the Day Centre fund and The Advice Centre fund are 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 2025**
|**Unrestricted funds**
**_General_**
General fund
**Restricted**
Day Centre
IT
Advice Centre
Allotment
**Total restricted funds**
**Total funds**|**Balance**
**at 1**
**April**
**2023**
**£**
490,006
-
-
-
-
-
490,006|**Incoming**
**resources**
**£**
318,246
64,499
10,500
9,723
25,322
110,044
428,290|**Resources**
**expended**
**£**
(182,398)
(265,060)
(23,384)
(57,094)
(14,199)
(359,737)
(542,135)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
(260,816)
3,452
200,561
-
12,884
-
47,371
-
-
-
260,816
-
-
3,452|**Balance at**
**31 March**
**2024**
**£**
368,490
-
-
-
11,123|
|---|---|---|---|---|---|
||||||11,123|
||||||379,613|
## **21 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Provisions
Total net assets
Current assets
Current liabilities
Provisions
Total net assets|**Unrestricted**
**General**
**£**
399,003
(11,276)
(19,237)
368,490|**Unrestricted**
**General**
**£**
3,366
403,605
(12,289)
(19,237)
375,445
**Restricted**
**£**
11,123
-
-
11,123|**2025**
**Total funds**
**£**
3,366
403,605
(12,289)
(19,237)|
|---|---|---|---|
||||375,445|
||||**2024**
**Total funds**
**£**
410,126
(11,276)
(19,237)|
||||379,613|
## **22 Related party transactions**
There were no related party transactions in the year.
Page 21