Charity registration number 1056875 (England and Wales) Company registration number 02970375
WALLINGTON CHRISTIAN OUTREACH LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
WALLINGTON CHRISTIAN OUTREACH LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees A J P French J G Hawkins J K Hawkins Secretary J G Hawkins Charity number (England and Wales) 1056875 Company number 02970375 Registered office 39 Woodcote Road Wallington Surrey SM6 0LH Independent examiner Frances Wilde FCCA DChA Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF Bankers HSBC - Wallington 54 Woodcote Road Wallington Surrey SM6 0NF Scottish Widows Bank Plc 67 Morrison Street Edinburgh EH3 8YJ CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA
WALLINGTON CHRISTIAN OUTREACH LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
WALLINGTON CHRISTIAN OUTREACH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report and financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Company's Memorandum of Association, the Companies Act 2006 and "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).
The Company trades as The Oasis Christian Centre.
Objectives and activities
a. Policies and objectives
The Company was formed to obtain charitable status and acquire the charitable activities of Wallington Christian Outreach, itself a registered charity. Charitable status was granted on 17 July 1996 and it acquired the charitable activities, assets and liabilities with effect from 1 September 1997 when it commenced trading as The Oasis Christian Centre.
b. Activities for achieving objectives
The principal way in which the work is carried out is by means of a Christian Bookshop operating at 39 Woodcote Road and known as The Oasis Christian Centre. Since May 2023 Dave Lock has been managing the bookshop, assisted by a team of volunteers.
The work of the bookshop is overseen by the Trustees, who meet regularly. Also, they all have hands-on experience, working in volunteer roles within the bookshop at least once or twice a week. They bring a wealth of relevant experience, e.g. accountancy and business, to their tasks, for which no further formal training is required. Should formal training be required in future, this will be arranged.
Public benefit
In planning the activities of the Company, the Trustees have considered the Charity Commission's guidance on public benefit and, particularly, the specific guidance on charities for the advancement of religion.
The shop is open to the public and this, in our view, means that it is for the benefit of the public as required by charity law.
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WALLINGTON CHRISTIAN OUTREACH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and performance
Review of activities
Sales for the year showed an encouraging 30% increase on the previous year. This was partly due to the closure of Manna Bookshop in Streatham and a consequent transfer of business to The Oasis. We expect this to continue through such media as established offsite book sales and book signings within the shop premises. Competition from online outlets continues to be a major concern and we are actively exploring the possibilities of Ecommerce to capture some of the online business. We are also continuing in our quest to encourage more local churches to place orders through us rather than sourcing online. Apart from books we carry stocks of Christian hardware, cards and gifts. These are good revenue earners and appeal to both Christians and non-Christians alike.
Staffing of the shop remains challenging from time to time and new volunteers are actively being sought. Dave Lock has continued in his role as manager with guidance and support from the Trustees.
The lease came to an end in May 2014 and the Trustees have been holding over since that time. In May 2017, the Trustees received from the landlord an offer of a new 10-year lease, at an increased rental, but felt unable to take matters forward until a new manager had been appointed. No further negotiations have taken place and the Company has continued to pay rent at the existing level.
Following the loss of two Trustees during the previous reporting period and one Trustee in November 2023, the number of Trustees has been reduced to three. In November 2023, we lost Paul Hawkins, another key member of the Trustees, who died suddenly after a short illness. Paul had been involved with the Oasis since the late 1990’s, having served as manager until May 2018, and then continued as our accountant and as a Trustee until shortly before his death. Paul is sorely missed. The remaining Trustees have continued to control the Company but are actively seeking additional Trustees amongst the local Christian community.
Considering the increase in turnover achieved last year, these financial statements have been prepared on a going concern basis as, in the opinion of the Trustees, there are no material uncertainties about the Company’s ability to continue for the foreseeable future, being 15 months from the date of signing these financial statements.
Fundraising activities
The company does not actively participate in voluntary fund raising and relies on sales from its bookshop to raise funds to finance its charitable activities.
Financial review
During the financial year, the Company made an encouraging profit of £6,038 (2023: loss £10,234). Our cash reserves have decreased by £12,412 but the Company’s stock has increased by £17,950. The Company will be seeking increased sales over the Christmas period which should result in a decrease in stock levels and an increase in cash. This will allow us to undertake the installation of new shop signage in 2025.
Reserves policy
The Company held unrestricted reserves of £99,874 in 2024 (2023: £93,836). The reserves included stock of £77,729 in 2024 (2023: £59,779).
The Trustees ensure that the Company retains unrestricted funds to meet at least four months' running expenditure:
(2024 £15,500; 2023 £15,500).
The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Company’s current activities whilst consideration is given to ways in which additional funding may be raised. This level of reserves has been maintained throughout the year.
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WALLINGTON CHRISTIAN OUTREACH LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
Plans for future periods
The Company plans to continue to operate in its existing markets whilst exploring the possibility of Ecommerce.
Structure, governance and management
Constitution
The Company is a charitable company limited by guarantee, incorporated on 7 September 1994. The Company is constituted under a Memorandum of Association dated 7 September 1994 and is a registered charity, number 1056875.
The principal object of the Company is to provide opportunities for outreach through the operation of a Christian bookshop known as The Oasis at 39 Woodcote Road, Wallington, Surrey, SM6 0LH.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
A J P French
P I Hawkins (Resigned 14 November 2023) J G Hawkins
J K Hawkins
Recruitment and appointment of trustees
New trustees are elected by the existing trustees. One third of the trustees retire from office at each Annual General Election and, if they choose to offer themselves for re-election, are deemed to have been re-elected unless there is any express resolution otherwise.
None of the Trustees has any beneficial interest in the company. The memorandum and articles of association restrict the liability of the Trustees on a winding up to £1 each. In the event of a winding up, accumulated funds shall be transferred to one or more charitable institutions having similar objects. The remuneration of the key management is shown in Note 11 to the financial statements.
Organisational structure
The trustees meet regularly and administer the charity by majority decision.
Key management remuneration
The remuneration of the key management is shown in Note 11 to the financial statements.
Risk Management
The Trustees have a duty to identify and review the risks to which the Company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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WALLINGTON CHRISTIAN OUTREACH LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees, report was approved by the Board of Tnjstees. J G Hawkins Trustee Date..
WALLINGTON CHRISTIAN OUTREACH LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALLINGTON CHRISTIAN OUTREACH LIMITED I report to the Trustees on my examination of the financial stalemenls of Wallinglon Christian Outreach Limited (the Company) for the year ended 31 August 2024. Responsibilities and basls of report As the Trustees of the Company land also its directors for the purposes of company lawl. you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the Company are not required to be 8udiled under Part 16 of the Companies Act 2006 and are eligible for independenl examination, I report in respect of my examin81ion of the Company's financial statements carried out under section 145 of the Chartties Act 2011. In carrying out my examination I have followed Ihe Directions given by the Charity Commission under section 14515)(b) of the Charities Act 2011. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving mè cause to believe that in any material respect= accounting records were not kept in respect of the Company as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirernent that the financial statements give a true and fair vièw, which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the melhods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Frances Wilde FCCA DChA Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bis16y Surrey GU24 9SF lois
WALLINGTON CHRISTIAN OUTREACH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 873 | 100 |
| Charitable activities | 4 | 179,848 | 139,298 |
| Investments | 5 | 478 | 152 |
| Total income | 181,199 | 139,550 | |
| Expenditure on: | |||
| Raising funds | 6 | 105,587 | 86,619 |
| Charitable activities | 7 | 69,574 | 63,165 |
| Total expenditure | 175,161 | 149,784 | |
| Net income/(expenditure) and movement in funds | 6,038 | (10,234) | |
| Reconciliation of funds: | |||
| Fund balances at 1 September 2023 | 93,836 | 104,070 | |
| Fund balances at 31 August 2024 | 99,874 | 93,836 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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WALLINGTON CHRISTIAN OUTREACH LIMITED BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Fixed assets Tangible assets 13 Current assets Slocks Debto Cash at bank and in hand 14 15 77,729 5.038 25.862 59.779 4,905 38,274 108,629 102,958 Creditors: amounts falling due within one year 16 (9,463) 19,963) Net current assets 99,166 92,995 Total assets less current liabilities 99,874 93,836 The funds of the Company Unrestricted funds 99,874 93,836 99,874 93,836 The company is entrtled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024. The directors acknowledge their responsibilities for complying wilh the requirements of the Companies Act 2006 with respect to accounting records and the preparalion of finan(aal statements. The members have not required the ojmpany to obtain an audit of rts finanaal statements for the year in question in acLY)rdance with 6edion 476. These financial statements have been prepared in aco)rdance with the provisions applicable to companies subject to the small companies fEgime. The financial statements were approved by the Trustees on ............... J G Hawkins Trustee Company registration number 02970375 (England and Wales)
WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
Charity information
Wallington Christian Outreach Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 39 Woodcote Road, Wallington, Surrey, SM6 0LH.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Company is a Public Benefit Entity as defined by FRS 102.
The Company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The cost of raising and administering such funds are charged against the specific fund. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Income
Income is recognised when the Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Legacies are recognised on receipt or otherwise if the Company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
(Continued)
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to projects. Gifts donated for resale are included as income when they are sold. Donated facilities and services are included at the value to the company where this can be quantified and a third party is bearing the cost. No income is recognised where there is no financial cost borne by a third party or where the value cannot be determined with reasonable accuracy. No amounts are included in the financial statements for services donated by general volunteers.
Income from other trading activities relates to the sale of books and other goods, exclusive of value added tax and any discounts.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings Over the period of the lease Office equipment 37.5% straight line Fixtures and fittings 25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
(Continued)
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost less provision for impairment. A provision for impairment of debtors is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debt. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
1.11 Taxation
The charitable company is exempt from corporation tax on its charitable activities.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged in the period to which they relate.
2 Critical accounting estimates and judgements
In the application of the Company’s accounting policies, the Trustees might be required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
3 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Donations and gifts | 873 | 100 | |
| 4 | Income from charitable activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Charitable activities | |||
| Sale of goods | 179,848 | 139,298 | |
| 5 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 478 | 152 | |
| 6 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Advertising | 59 | 100 | |
| Trading activities | |||
| Operating charity shops | 48,788 | 37,481 | |
| Other trading activities | 56,740 | 49,038 | |
| 105,528 | 86,519 | ||
| Total costs | 105,587 | 86,619 |
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
7 Expenditure on charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| activities | activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 26,676 | 21,754 | |
| Depreciation and impairment | 873 | 1,011 | |
| Rent, rates and service charges | 18,936 | 18,948 | |
| Insurance | 2,365 | 2,373 | |
| Light and heat | 3,206 | 2,093 | |
| Telephone | 2,057 | 1,780 | |
| Printing, postage and stationery | 2,339 | 731 | |
| Bank charges | 1,505 | 1,209 | |
| Equipment, repairs and maintenance | 4,445 | 4,462 | |
| Donations | 262 | - | |
| Bad debts | 256 | - | |
| Sundry expenses | 5,579 | 6,930 | |
| 68,499 | 61,291 | ||
| Share of support and governance costs (see note 8) | |||
| Governance | 1,075 | 1,874 | |
| 69,574 | 63,165 | ||
| Analysis by fund | |||
| Unrestricted funds | 69,574 | 63,165 | |
| 8 | Support costs allocated to activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Governance costs | 1,075 | 1,874 | |
| Analysed between: | |||
| Charitable activities | 1,075 | 1,874 | |
| 9 | Net movement in funds | 2024 | 2023 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 1,040 | 1,575 | |
| Depreciation of owned tangible fixed assets | 873 | 1,011 |
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
10 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Company during the year.
11 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Administration | 1 | 1 |
| Unpaid Volunteers | 14 | 14 |
| Total | 15 | 15 |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 25,401 | 20,521 |
| Other pension costs | 1,275 | 1,233 |
| 26,676 | 21,754 | |
| There were no employees whose annual remuneration was more than £60,000. | ||
| Remuneration of key management personnel | ||
| The remuneration of key management personnel was as follows: | ||
| 2024 | 2023 | |
| £ | £ | |
| Aggregate compensation | 26,775 | 21,754 |
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
| 13 Tangible fixed assets Leasehold land and buildings Office equipment Fixtures and fittings £ £ £ Cost At 1 September 2023 50,808 18,913 33,909 Additions - 740 - At 31 August 2024 50,808 19,653 33,909 Depreciation and impairment At 1 September 2023 50,808 18,449 33,532 Depreciation charged in the year - 716 157 At 31 August 2024 50,808 19,165 33,689 Carrying amount At 31 August 2024 - 488 220 At 31 August 2023 - 464 377 14 Stocks 2024 £ Finished goods and goods for resale 77,729 15 Debtors 2024 Amounts falling due within one year: £ Trade debtors 959 Prepayments and accrued income 4,079 5,038 16 Creditors: amounts falling due within one year 2024 £ Other taxation and social security 1,682 Trade creditors 5,011 Other creditors 1,000 Accruals and deferred income 1,770 9,463 |
Total £ 103,630 740 |
|---|---|
| 104,370 | |
| 102,789 873 |
|
| 103,662 | |
| 708 | |
| 841 | |
| 2023 £ 59,779 |
|
| 2023 £ 1,408 3,497 |
|
| 4,905 | |
| 2023 £ 2,340 3,656 2,144 1,823 |
|
| 9,963 |
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WALLINGTON CHRISTIAN OUTREACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
17 Retirement benefit schemes
| Retirement benefit schemes | ||
|---|---|---|
| 2024 | 2023 | |
| Defined contribution schemes | £ | £ |
| Charge to profit or loss in respect of defined contribution schemes | 1,275 | 1,233 |
The Company operates a defined contribution pension scheme for all qualifying employees.
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 | Incoming | Resources | At 31 August | |
|---|---|---|---|---|
| September | resources | expended | 2024 | |
| 2023 | ||||
| £ | £ | £ | £ | |
| General funds | 93,836 | 181,199 | (175,161) | 99,874 |
| Previous year: | At 1 | Incoming | Resources | At 31 August |
| September | resources | expended | 2023 | |
| 2022 | ||||
| £ | £ | £ | £ | |
| General funds | 104,070 | 139,550 | (149,784) | 93,836 |
19 Financial commitments, guarantees and contingent liabilities
Customer Loyalty Cards
Customer loyalty cards have been issued which entitle customers to redeem £5 off their next purchase once they have been completed. The company does not know at any time how many of these cards will be presented for redemption and therefore they will be accounted for when redeemed.
20 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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