FIRST FRUIT ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CHArn REGISTRATION No: 1066749 COMPANY REGISTRATION No: 03477267 8aldwln Scofield Ltd Chartered Accountants statutory Auditors 3 Newhouse Buslness Cenlre Old Crawley Road Htsrgham West Sussex RH 12 4RU
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) CONTENTS Pages 2 to 6 Report of the Dlrectors Pages 7 to 9 Independent Auditor5. Report Paqe 10 Con501idated Statement of Flnancial Activities P¥e li Consolldated 8alance Sheet Page 12 Charlty BJlance Sheet Pages 13 to 24 Notes to the Financial Statements Page 25 Consolidated Statement ol Cashflow5
FIRST FRUIT (A COMPANY LIMITED BY GLIARANTee) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31sr MARCH 2024 LEGAL AND ADMINISfRATIVE INFORMATION CHARrrY NUMBER 1066749 COMPANY REfjISTRATION NUMBER 03477267 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st Narch 2024 TRUSTEES Peter Sell {Chaimianl Chrlstina Isaac (Managing Director) Charle5 Oham Julla Acott Pia Ellis IresSgned 17 April 2024) Mark Clemen¢5 Andrew Flmian lappolnted 22nd November 20231 Trustefjs are appointed by the existlng trustees. REGzsfERED ADDRESS 34 Norwich Road Forest Gate London E7 9JH DATE OF INCORPORATION 2nd December 1997 GOVERNING DOCUMENT Mamorandum and Articles of Assoclatlon BANKERS Barclays Sank Pl¢ Unlt 2 S8 Hlgh stet North East Mani E6 2HW AUDITORS Baldwin Scofleld Ltd Chartered Accountants Statutory Auditors 3 Newhouse Busines5 Centre Old Crawley Road Hor5ham West Sussèx RH12 4RU
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2024 The trustees are pleased to present their report together wlth the finandal statements of the charity for the year ending 31. of March 2024. Refence and administratlve details set out on page 2 form part of this report. The financlal statements comply wlth current statutory requirements, the memoraThdum of association and in accordance with the Companles Act 2006 and Financlal Reportlng Standard appll¢able In tbe UK and Republic of Ireland IFRS1021 (effective l January 20191 Icharities SORP IFRS102)1. strurture, Governancè and Management. Pirst Frult was incorporated as a company Ilmited by guarantee on 2nd December 1997 with company number 3477267 and is registered with the Charity Commlsslon with number 1066749. The Charlty operltes from its premises at 34 Norwich Road, Forest Gate E7 9JH. The Trustees act as company dlrettors for Companles Art purposes and meet re9ularly to manage Its affairs. The charlty employs two stsff, one full tlrne and one part tlme, who are engaged In charitable artSviiles, finance and day to day admlnbstration. Objectl¥es and •rtlvitles The objettives of Flrst Fruit are: The advancement of the Christlan Faith.. Thls Is done through teacfving and tralnlng. and réleasSng people's skills to serve others as a demonstration of the churches. mlsslon In the world and encouraglng churches ro work together to achleve this. The advancemènt Of educatlon and the rellef ol poverty ol people In needy cir¢um5t?nces,' th15 Snvolves provldlng asslstan¢e and tralnlng for the development of skills in coplng with life and employment. First Frult has been pursulng these objectlves through the running of homeless hostels, social enterprises and developing the network of ¢hur¢hes. The a1rn In each of these •reas is t¢ provlde a sense of secudty and belonglng to develop b)sic w¢rk and dome5tyc dlsclpllne5 wlthin a supported ond caring bvt cornmerclal environment. The work wlth the network of churches encourages Christians tv pray and work together In every sphere of Ilfe to make a dlfference and brlng the transforming love of God to the ptople and comrnunlty of Newham and East London. Social enterprlses are run through Flrst Fruit, housing through Just Homes. First Frult's social enterprlses are dependent on the work of volunteers. Apart from trustees Flrst Fruit does not receive slgnlflcant donations In klnd or other intan9ible in¢¢me. Public Benefit Th& directors have had due regard to the Charity Commlsslon'5 guide on publlc beoelit in planning activltles for the year. The charliy alms ro provlde a variety of èccommodatlon an¢ 5uppor( provisions for a spectrum of people falllno under the homeless, unemployed and/or with a hlstory of drug and alcohol abuse, women wlth young chlldren with Do recourse to publlc funds and famllies in low-income bracket5. The charity conslders the provision of accommodation and support to the above client group and artJvitles contrlbutes to publlc benefit. 8etween the vadous projects the charlty has the abillty to provide accommodatiorn-baséd 5UPPOrt to 64 men and up to 12 women and 14 children across 9 different prernlses across Newham. Dudng the year, we purchased a further property In Newhorn antj ttave refurbished It al HMO standards. The property was ready for occupancy in Qctober 2024. The further house will be use¢ for our men'5 work Increasing our capacity from 64 to 72 tor slngle homeless men during the flnandal year 24 to 25. This will also take our total combined capadty to 84 our men's and wornen's work. Our social enterprise pmvidé$ 8 to 10 voluntary work placements.
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2024 Staff have worked hard to support our SidentS durlng the year. All our clients have been provided with one to support Sn a variety of areas. Much effort ha5 gone into supporting our cllents to gain independent living skills. A varlety of social events were organised for the residents throughout the year, including summer BBQS, therned parties, and Chrlstmas parties at our various homes. Meaningful hampers full of essentials and seasonal treats were distributed to all residents, and children during the Christmas period. Warm clothing was also distributed to all our women clients and their children. Some residents in our men's hoste15 were also supported with warm clothing during wlnter months. Some resldents wefft supported to access various small grants pots. Some were given small grants from the charity's own funds. The charity has provlded free meals, toiletries and sorne personal hygiene products to ovr residents. All our residents continue to have access to free laundry and drying facllitles. In addition to the one-tO-Dne 5UPPOrt provlded we have networked with partner agencies to enable our residents io ècce5s a variety of 5UPPOrt provlslons. Our soclal enterprise Natural Harvest contlnues to 5UPPOrt those who are recovering frorn mental health Issue5 and also provlde valuable work placements to our clients. It also serves as a meeting pla¢e for vulnerable older people who attend the Health centre. Achiévements and performance Just Homes Charlty has provided a commendable 5ervlce In the last flnanclal year. We have contlnued to revieY4 and revlse the way we provide support and also made Lhe support we deliver to cater to the post covid world with a focus on enabling residents to access and operate Safely onlSne. All our premise5 provide free WI-FI facilities. Men's work.. During the course of last year, we have fftceived a 5ta99ering 588 referrals whlch 15 9.1 times the number of referrals than 64 bed spaces we currently have for Qur men'5 work. Thls Is a drastl¢ jurnp from the previous year where we ceived S tirnes the number of appli¢atl¢ns to successful admissions. Last yeèr, we have supported 12 1 clients of which we moved on 58 from our project5. Clients ttave been supported to galn electronic equlpment and tralned to access a varlety of essential onlin¢ services, Ilke re9lstering for online banking to managlng beneflts onllne. Of the 58 that moved on 45 were enabled to access online banklngi S3 enablèd to manage a deblt card, 54 enabled to have personal emalls, 51 wère enabled lo have access to unlversal tredlts online, 46 asslsted to access GP servlces, and 17 to access Dental gervlces. 33 have moved on with employment or employment relate4 trainlng, 5 moved Into privately rented accornrnodation and 17 rerurned to friends and farnlly. Last year we had a 98.70h occupancy rate. Womèn's work.. last year we have svpported 23 adults and 24 chlldren through our women's work. We have now developed J wide network ol aget)cl*s t¢ support these women In addltlon t¢ the support we provlde. 11 mothers and thelr 13 chlldren moved on from our services last year, We supported all of them t¢ move on from us by accessing the houslng serVIS and appropriate beneflts. Through our network of local partners we were able to offer all ¢1 the 11 mothers who moved on fr¢m us, support on Immigration matters. In addltlon 10 accessed counselling seTvlces, I woman was enrolled with ESOL literacy and numEra courses, 8 were supported to access clothlng, toys and b¢oks bank, 2 were supported with parenting and mldwlfery services and 3 chlldren also accessed free 15 hours nursery placements. We have common laptops for resident use at each premises. Last year we had a 96Wo occupancy rate. Social Ent•rprls•.. Our snack bar Natural HaNost, b?sed in the Shrewsbury Road health centre, continues to provide a valuable service to the local community with It5 services. We work wlth recovering mental healrh cllents providlng therapeutic work placement. The work placement opportunitles are also open to resldenrs of Just Homes and offered to 5UPPOrt them gain experience a5 a route into employment. Over last year, we have supported 4 mental health patients and 4 residents wlth work placemenrs. The café also forrn a Social hub for vulnerable older cllents of the Health centre. Other events Property Purcha$e'. The charity purchased a 5-bedroom property In 3arkin9 Road anij has refurb15hed It at HMO standards to an 8 bed room property, an Dffice and other shared facllities. The propèrty was ready for occupancy in October 24. This brings our ¢urrtnt capaclty for men's work to 72 bed spaces acros5 7 properties. Just Horne5 belng an accommodation-based hDusing provider needs buildings to operate fmm. Trustees are worklng hard to own properties and establish ourselves as a slgnificant stspported a¢comrnod4tion charlty In Newh)rn. The trustee5 are working towards pvrthasing further properry in the finonclal year 2024 to 25. For clarlty the properties wlll be purchased by First Fruit and with the Intention of Just Homes Charity providing accommodatlon-based support from rhese prerni5es.
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2024 Financial Review Financial Review The Fi¥st Frult Group ha5 2 free reserve of £770,229. Just Homes the Houslng ami contlnues to be the maln artlvity of the charlty. The Chantv Is confldent that we have the good level of reserves across all of the Flrst Fruit Group. In the financial year 2018 to 19, Hrst Frult charity took out a mortgage wlth Charlty Bank and bought the property I Cumberland Road House from the landlord. In the financial year 2021 to 22, First Frult Charity extended this mortgage with a vlew of acquiring 2 further properties. The purchase and refurbishment of both the propertles has gtsne according to plan and both properties becarne operational as at the 1st of March 23. The charity has bought a further property in present finandal year, which is presently under refurbishment. Thls further property has been bought from the Charity's own fund5. BeSng ari accornmodation-based provider of support, It 15 in the interest of the charity to own Its own accommodation5 facllltles. The larger properties managed by the charity are owned by pdvate landlord5 and hence Charlty is focusing on acquiring Further propertles ensure the charity has Its own supply of properties. We have also Invested in improvlng tha facllitles of our a¢¢ommodatlon provisions, the support seryices we offer and the wellbeing of our staff team. The charity propose5 to purchase a further property in financial year 24 to 25. We are con51dering options for this purchase which includes the possibility of a further Charlty Bank mortgage. Natural Harvest is on a positlve curve and we belleve will stabilise in tlme. sk Managem•nt The trustees have revl&wed the major risks to which the charlty is exposed and are 5atlsfled that systems are In place to mltigate those risks. The above report Is prepared In accordance wlth the spedal provbslons wlthin Part 15 of the Companles Act 2006 relatlng lo small companles. Management accounts are examlned at every trustees meeting. Durlng the year the trustees have carrled out a revlew of the Charity's internal financial controls and checked that separate funds are accounted for and ¢ep¢rted correctly in the accounts. The accounts presented are complete set of accounts. The Trustees are of the oplnlon that FTtst Frult group Is a going concern and is in a flnanclal position to settle outstandlno Involces, bills and commitments as and when they fall due. The reserves levels of the charlty and group were a150 examlned durlng the course of the year and the trustees are happy wlth the leve15 of werves.
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) RepoRT OF THE DIREcfoRS FOR THE YEAR ENDED 31ST MARCH 2024 statement of Dirertor'5 responslbilities: The Trustee5 (who are also direttors of First Fruit Charity fDr the purposes of cornpany lawl are responsible for preparing the Trustees. report and the financial statements In accordance with applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statÈments for each fitsèncial year. Under tompany law the Trustees must not approve the financlal staternents unless they are satisfied that they give a true and fair view of the state of affairs of the charitable cornpany and of the incoming resources and application of resources, includlng the income and expenditure, of the charitable company for that perlod. In preparing these flnancial statemeThts, the Trustee5 are required to.. selert suitsble accountlng policies and them apply them consistently; observe the methods and principles in tho Charitiès SORP. make Judgments and accouniSng estimates that are reasonable and prudent,. prepare the financial statements on the going concern basls unless It is inappropriate to presume that the haritable company wlll continue in opera¢i¢n. The Trustees are responslble for keeping adequate accountlng records that are sufflclent to show and explaln the charitable company's transactions and disclose with reasonable accuracy at any time the flnancl)I posltlon ol the charitable company and enable them to ensure that the financlal statements comply with thè Cornpanies Act 2006. They Jre also SPOnsIble for safeguarding the assets of the charltable company and hence for takln9 reasonable stèps for the prevention and detectlon of fraud and other Irregularltles. DISCLOSURE OF INFORMATION TO AUDThORS Each of the persons who are Trustee5 at the tlme when thls Trustees, report Is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audlt informatlon of which the charitable Company's auditors are unaware, and that Trustee has taken all the steps that )ught to have been taken a5 a Trustee In order to be aware of any relevanr audlt ififormatlon and to estsblish that the charitable company's auditors a aware of thal information. l approve the attached statèment ¢f financlal actlvitlts and balance sheet for the year ended 31 March 2024, and conflrm that I havé made avallable all Infomation necessary for Its preparatlon. Approved by order of the members of the board of Trustses on 19 November 2024 and signed on thelr behalf by.. Christlna Isaac
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FIRST FRurr OPINION We hève aLKlited the financial statements of First Fruit (the 'parent charity'l and its subsidiaries {the 'group'l for the year ended 31 March 2024 set out on pages 10 to 25. The flnancial reporting framework that has been applied In their prepaiation is applicable law and Unlted Kingdom Accounting Standards, including Financial Reportin9 Standard 102 'The Financlal Reportlng Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Prartice). In our opinlon the flnancial statements glve a true and f•ir view of the state of the group's and of the parent charitable company's affairs as at 31 March 2024 and of the group's incoming resources and applicatlon of resources, including Its income and expenditure for the year then ended; have been properly pPared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been ppared In accordance wlth the requ1ments of the Charlties Att 2011. BASIS FOR OPINION We conducted our audit In accordance wlth Internatlonal Standard5 an Audlting IUKI IISAS IUKII and applicable law. Our responslbilities under those stsnaards are further descrlbed in the Auditors, responslblllties for the audit of the flnanclal Statements section of our report. We are Independent ol the group in accordance with the ethical requirements that are relevant to our audit ol the financlal statements In the Unlted Klngdom, irtcludlng the Flnanclal Reportlno Councll's Ethlcal Standard, and we have fulfilled our other ethical responsibillties In accordance wlth these requirements. We belleve that the audll evldence we have obtained is sufficient and approprlate t¢ provide a basis for our oplnion. CONCLUSIONS RELATING TO GOING CONCERN We have nothing to report In re5pec¢ of the followlng matters In relatlon to kvhlch the 15As IUKI requlre us to report to you where.. the Tnjstees, use of the going concern basls of accountlng in the preparation of the flnancSal statements Is not approprfate,. or the Trustees have not dlsclosed In the financial statements any identified rnat8rlal un¢ertJinties that may cast slgniflcant doubt about the group's or the parent charitab5e company's ablllty to contlnue to adopt the going concern basls of accounting for a perlod of at least twelve months from the dale when the financial statements are authorlsed for Issue,
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FIRST FRUIT OTHER INFORMATION The Trustees are resportsible for the other information. The other information comprises the InformatlDn included In the Annual ptsrt, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements doe5 not cover the other Inft>rniation and we do not express any form of 85surance concluslon thereon. In connettion with our audit of ihe financial statements, our responslblllty Is to ad the other Information and, In doing so, conslder whether the other information Is materially incon51Stent wSth the financial statements or our knowledge obtained in the audit or otherwise appears to be materSally misstated. If we Identlfy such rnaterial inconsistèncles or apparent material misstatements, we are required to determine whether there Is a material misstaternent in the flnancial statements or material misstaternent of the other information. If, based on the work we have performed, we conclude that there is material mlssratement of this other Snformation, we are requlred to report that fatt. We have nothing to report in this regard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothlng to report in respect of the following matter5 where the Charlties IA¢c9unt5 and Reports) Regulation5 2008 requires us to report to you If, In our opinion.. the informatlon given in the Trustees, report is incon5iStent in any material respect with the financial statements,. or the parent charltable company ha5 not kept sufficient accountlng records. or Lhe parent charitable company flnanclal stètements are not In ogreement V41th the accountin9 records and returns,. or we have not received all the informatlon and explanations we require for our audlt RESPONSIBILITIES OF TRUSTEES As explained more fully In the Trustees, responsibilitie5 Statement, the Trustees (who are also the dlrectprs of the charftable company for the purposes of company lawl are responsible for the preparatlon of the financlal staternents and for belng satlsfied that they give a trL*e and falr vlew, and for such Internal control as the Trustees determlne Is nacessJry to enable the preparation ol flnanclal statements that are free from material mlsstaternent, whether due ro fraud or error. In preparing the nnanclal statements, the Trustees are responsible for assessing the group's and the parent charltable company'5 ability to contlnue a5 a going concern, dlsclosino, as appllcable, matters relatlno to 9oln9 concern and using the golng concern basls of accounting unless the Trustees elther intend to liquidate the group or the parent charitable company or to cease operations, or hava no realistic alternative but to do go. AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appolnted as auditor under Section 151 of the Charities Act 2011 and report in accordance with the Art ond relevant regulatlons made or having effett tmereunder. Our objertives are to obtain reasonable assur4nct about whether the flnanclal statement5 a5 a whole are free from Materlal misstaternent, whether ¢Jue to fraud or error, and to Issue an Audltors. report that Inclucles our oplnlon. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will always detect a materlal misstatement when It exists. Misstatements can arise from fraud or error and are consldered materlal If, Indivldually or In the aggregate, they could reasonably be expecred to influence the economic decislons of users taken on the basls of these flnanclèl statements.
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) INDEPENDEf4T AUDITORS. REPORT TO THE MEMBERS OF FIRST FRUIT Irregularities, including fravd, are instance5 01 non-compllance with laws and regulations. We design procedures in line wlth our responslbilities, outlined above, to detect material misstaternents In respect of irregularities, including fraud. The extent to whlch our procedures a capable of detecting irregularfties, includino fraud Is detailed below.. We obtalned an understandlng of the legal and regulatory frameworks that are appllcablt to the charitable company and determlned that the most significant are those that relate to the rèporting framework in conformity with the requirements of the Companies Act 2006, CharltSes Att 2011 and the levant dirett and indirect tax compliance regulations in the United Klngdom. We understood how First Fruit Group is complylng with those frameworks by making enqulrles of management to understand how the charitable cofflpany malntains and communlcates it5 pollcles and procedures In these areas and corroborated thls by vIeWIng supporting docurnentatlon and minutes of meetings of those charged with governance. We assessed the susceptlblllty of the group's flnancial staternents lo materiol misstatement, Includlng how fraud mlght occur by consldering the risk of management overrlc5e to be a fraud rlsk. In additlon, we ¢onsldered the risk of management overrlde by sampllng from the entire populatlon of journals, identifying speafic transactions which did not meet our expectotions based on specific criteria and Investigated ihese to galn an undetandIng and then agree back to source documentat0. Based on thls understanding we designed our audit procedures to Identify noncorrpllance with 5Ltch laws and regulatlons. Our procedures involved verlfylng that material transartlons were rectsrded In compliance wlth Financial Reporting Standard5 In conformity wlth the requirements of the Companies Att 2006 and Charities Art 2011. A further descriptlon of our responslbllltles for the audlt of the ff nanclal statements is located on the HnancSal Reportlng C¢un¢il's webslte at www.frc.org.uklauditorsresponslbllltles. Thls descrlptlon forms part of our Audltors. report. USE OF OUR REPORT Thls report is made 501ely to the charltable company's trustees, as a body* In accordance with Part 4 of the Charlties (Accounts and Reports) Regulatlons 2008. Our audir work has been undertaken so that we might state to the charltable company's trustees those matters we are requlred to state to them In an Auditors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assunie responsibillty to anyone other than the charltable company and 1tS trustees, as a body, for our audlt work, for thls pory or for the opinlons we have formed. 8aldwln Scofleld Ltd Chartered Accountants Statutory Auditors 3 Newhouse Busine55 Centre Old Crawley Rtsad Horsham West Sussex RH12 4RU 19 November 2024 Baldwin Scofield Ltd are eligible to act as auditors in terms of section 1212 of the Compènies Act 2006.
FIRST FRUIT (A COMPANY LXMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL AcfivITIES FOR THE YEAR ENOED 31ST MARCH 2024 Unrestrlcted Funds Restritted Funds TOTAL 2024123 TOTAL 2023122 Notgs INCOME AND ENDOWMENTS FROM: Donations and Legacies 215,074 215,074 76,940 Investments 6,945 6,945 905 Cknaritable Actlvities 1,450,862 1,450,862 1,215,660 Other Id 6,819 6,819 300 TOTAL INCOME 700 EXPENDITURE ON: Charltable Attlvitr'es 1,239,851 1,239,8SL 1,110,347 TOTAL EXPENDITURE NET INCOME/(EXPENDITURt) 439,849 439,849 183,458 Transfer5 Yetween Funds NeT MOVEMENT IN FUNDS 439,849 439,849 183,458 RECONCILIATION OF Fuf4DS.. Total Fund5 Brought Forward li 2,111,585 2,111,585 1,928,127 TOTAL FUNDS CARRIED FORWARD li Movements on all reserves and all recognlsed gains and losses are shown above. All of the organis8tlon's operations are classed as conUnLrlng. The notes on pages 13 to 25 form part of these flnanci?l st)ternents. io
FIRST FRLIIT (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH 2024 Unrestricted Funds Restrtcted 31-MaTr24 31-Mar-23 Fund5 Total Total Flxed A55ets Tangible assets Investments 3,214,742 3,214,742 2,627,697 Current Assets Debtors Cash at bank and in hand Total Current Asset$ 34,2S5 918 547 34,265 918,547 24,819 I IL7 747 Credltors: amounts falling due wlthin one year 182,583 182,583 193,560 NEf CURRENT ASSETS 770,229 770,229 949,006 Credltors: amounts fallln9 due In more than one year 1,433,537 1,433,537 1,465,118 TOTAL ASSETS less current liabilitles 2,551,434 2,551,434 2, 111,58S NET ASSETS Funds of the Charity General Funds 2,551,434 2,551,434 2,111,585 Restrlcted Funds Total Funds iii, The directors are sat15fled that for the year ended on 31 March 2024 the charitable company was entitled to exemption from the requirement t¢ tsbtaln an autjit under section 477 of the Companies Act 2006 and that no member or members have reqUId the c¢mpany to obtaln an audit of Its accounts for the year In questr'¢n in accordance wlth section 476 of the Act. However, an avdit is required in zccordance wlth section 151 of the Charltles Act 2011. The dirertors acknowledge thelr responsiblllty for complylng wlth the requlrements of the Companles Act 2006 with respect to accounting records and the preparation of accounts. The accounts have beèn prepared In accordance with the provisions in Part IS of the Cor•panies Act 2006 appllcable to companies subject to the small companles reglme and in ac¢ordance wlth the Flnanclal Reporrin9 Standard appllcable In the UK and Republlc of Ireland IFRS1021 leffettlve l January 20191- Ichadties SORP IFRS10211. The dlrectors acknowledge their responsiblllty for ensurlng that the company keeps proper accountlng records which comply %Yith sectiory 386 of the Att and for prepaflng flnanci41 statemerbrs which give a true and falr vlew of the state of affalrs Df the company as at the end of the financial year and if Its proflt and loss lor the financlal year in accordance with the requlrements of sections 394 and 395 and which othenvlse comply with the requlrements of the Compani95 Act 2a06 relatlng to accounts, 50 far as applicable to the comp8Thy. The financlal statements were approved and authorfsed for Issue by the Trustees on 19 November 2024 and signed on thelr behalf by.. Mr P Sell The notes on page5 13 to 25 ftsrm part of these financial Statements. li
FIRST FRUIT (A COMPANY LIMfrED BY GUARANTEE) CHARrrY BAL4NCE SHEET AS AT 31ST MARCH 2024 Registration number: 03477267 Unrestrirted Funds Restritted 31-Mar-24 31-Mar-23 Funds Total Total Note Flxed Aets Tangible assets Investments 2,946,767 1,000 2,946,767 1,000 2,389,081 1,000 Current Assets Debtors Cash at bank and In hand Total Current Assets 6,671 294 301 300 972 6,671 294 301 8,777 650 170 658 947 Credltors: amounts falling due within one y•ar 164,309 164,309 152,862 NET CURRENT ASSEfsi(LIABIUTIES) 136,663 136,663 506,085 Creditors: amounts falling due In more than one year 1,433,537 L.433,537 1,465,118 TOTAL ASSETS less current liabilltle 1,650,893 L,650,893 1,431,048 NET ASSETS/(LIABILITIES) 1,650 893 1.650 893 1,431 048 Funds of th• Charity General Funds Restrltted Funds 1,650,893 1,650,893 1,431,048 Total Funds 1,650 893 1431 048 The dlrectors are satlsfied that for the year ended on 31 March 2024 the charltable company was entltled to exemption from the requirernent to obtain an audit under sectlon 477 of the Corrpanie5 Art 2006 and that no member or members have requlred the company to obtaln an audlt of its accounts for the year in question in accordance wlth sertlon 476 of the Art. However, an audlt Is requlred In accordance with sectSon 151 of the Charlties Act 2011. The directo a¢knowledge their responslbillty for complying with the requiffjments ol the Companies Att 2006 with respect t accounting records and the preparation of accounts. The accounts have been prepared in accordance wlth the provlslons In Part 15 OP the Companles Act 2006 appllcable to ompanles subject to the srrall companles girne and in accordance wSth the Flnancial Reportlng Standard appllcable In the UK and Republic of Ireland IFR51021 leffectlve l January 2019) - (Charities SORP IFRS10211. The d1ctOrS acknowlèdge thelr responslblllty for ensuring that the company keeps proper •ccountlng records whlch comply wlth sectlon 386 of the Act and for preparing flnanclal statements whSch give a true and fair vlew of the state of affairs of the company as at the end of the flnancial year and if its profit and loss for the flnancial year In accordance with the requirements of sections 394 and 395 and whlch otherwise comply with the requirements of the Companies Act 2006 relating to accounts, $0 far as applicabl¢ to the company. The firnancial Statements were approved an behalf by.. uthorised for issue by the Trustees on 19 November 2024 and signed on their Mr P Sell The notes on paoe5 13 lo 25 form part of these financlal statements. 12
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2024 l. A¢¢ountin9 Policies l.l) Basls of PrÈparation The principal accountlng policies adopted, judgements and key sources of estimatlon uncertainty in the preparation of the flnanclal statements are as follows: The flnancial statements have been prepared In accordance with Accounting and Reportlng by Charities.. Ststement of Recommended Praetlce applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffÈctive l January 20191 (Charities SORP IFRS 10211, thè Financial Reporting Standard applicable in the UK and Republic of Irel£nd IFRS 1021 and the Companles Act 2006. First Frult meets the definition of a publlc benefit entity under FR5 102, A55ets and liabilltles are initially recognised at historical cost ¢r transartion value unless oth•rwisÈ stated in the relevant accounting policy. The group consolidated financlal statements combine the results of the charitable company First Frult ana Its subsldiary undertakings, Aspire Community Enterprise (East London) Ltd (dissolved 12 September 20231, First Fruit Trading Limited and Just Homes Charity, The net income and expendSture result fDr the year dealt with irt the accounts of the Flrst Frult Charity accounts was £219,84512023/22.' £24,271). 1.2) Material prlor period errors and changes to prevlous accounts No materlal prSor Pe0d errors have been Identlfled In thls accounting period and there have been no changes to previous accounts. 1.3) Prepar?tlon of accounts on a golng concern basis Preparatlon of the accounts 15 on a going concern basis. The Trustees are of th8 vlew that the level of reserves wlll 5UPPOrt the charity golng forward. 1.4) Income Income Is Included in the Statement of Flnanclal Artlvlties ISOFAI when: the charlty becomes entitled to the Incorne., it is rnore Ilkely than not that the irustees wlll recelve the resources; and the monetary value can be measured wlth sumclent reliability. 1.5) Intar¢st recelvable Interest on funds held on deposit is included when recelpt is probable and the amount can be measured reliably by thé charityi thi5 Is norrnaSly upon notiflcation of the interast paid or payable by the Bank. 1.6) Grants and Donatlon* Grants and donatlons are only Included in the SOFA when the general income reco9nitlon crlterl¥ Jre met15,10 to 5.12 FRS L02 SORPI. 1.7) Income Tax Recoverable GSft Ald receivable is Included in income when there is a valid declaration from the donor, Any Gift Aid amount recovered on a donatron is considered to be part of that glft and is treated as an addltion to the same fund as the initlal donatlon unless the donor or the terms of the appeal have specified otherwise. Income tax recoverable in relatlon to donations received under Glft Aid or deeds of coverbant Is recogni5ed at the time of the donation. Income tax recoverable In relation to Investment Income is recognised at the time the inveslrnent income is receivable, 1.8) Legacies For legacles, entitlement is taken as the eadier of the date on which either.. the company Is aware that probate has been granted, Ihe estate has been finallsed and notlflcatlon has been made by the executorl51 to the Trust that a distribution will be rnade, or when a distribution is received from the estate. Recelpt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of th¢ executorfs Intentlon to make a dIrIbUtion. Where legacies have been norified to the company, Dr the company is aware of the grantjng of probate, and thé riteria for income recognition have Not been met, then Ihe legacy is treated as a contigent as5el and disclosed if material. 13
FIRST FRurr (A COMPANY LIMITED BY GVARANTEE) NOTES TO THE FINANCTAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 1.9) Donated serviceg and facilities Donated services or facilities are recognised when the company has control over the Item, a4ny condltlons associated with the donated Item have been met, thÈ recelpt of economic benefit from the use of the company of the item Is probable and that economic beneffit can be measured reliably. En accordance with the Charlties SORP IFRS102), the general volunteer time or the Friends is not recognised and refer to the Trustees report for rnore information about their contribution. On receipt donated professional services and donated facllltie5 are recognised on the basis Of the value of the gift to the company which Is the amount the comp3ny would have been willing to pay to obtain seNices or facilities of equivalent economic benefit on the open markèt, a corresponding amount is recognised in expenditure in the period of receipt. 1.10) Govemrnent Grants The charity has not received any government 9rants In the reportlng perlod. 1.11) Fund Jccountlng General funds are unrestrittèd funds which are avallable for use at the dlscretion of the Trustees Sn furtherance of the gelleral oblectlves of the company and whlch have not been designated for other purposes. Restricted funds are funds which are to be Used in accordance wlth speciflc restrlctions Imposed by donors or which have been raisèd by the company for particular purposes. The costs of raising and adminlstering such funds are charged against the speclflc fund. The aim and use of each restdtted fund is sèt out in the notes to the fSnanclal Statements, Investment Income, gains and losses are allocated to the approprlate fund. 1.12) Exponditure Expenditure is recognised once there Is a legal or constructive obligatlon to transfer economic benefit to a thlrd party, IL is probable that a transfer of economic benefits will be requlred in settlement and the amount of the obligation can be measured reliably. Expendlture Is classlfled by activlty. The costs of each actlvlty are made up of the total of direct costs and shared costs, incluaing support costs involved In undertaking each artlvlty. Dlrect Costs attributable to a stn9le èctivlty are allocated direttly ¢0 that actlvlty. Shared costs which contrlbute t¢ more than one activlty and support costs whlch a not attribuiable io a slngle attivity are apportloned between those attlvltles on a ba515 consistent wlth the use tsf resources. Central staff costs are allocated on the basis of tlme Spent, and depreciatlon charye5 allocated on the portlon of the asset's use. Support costs are those costs Incurred dlr8ttly In support of expendlture on the objects of the company and Includo project management carrled out at centrdlly. GovÈrnance costs are those Incurred In connectlon with adminIstratoN of the company and c¢mpliance wlth ¢onstitudonal and statutory reoulrements. ChariL4ble activlties and GDvernance ¢¢sts are costs In¢urrtd on the company's educatlonal operation5, IDcluding support costs and costs relating to the governince of the company apportioned to charitable activltles. Grants payable are charged in the year when the affer Is made txcept In those casès where the offer Is condltional, such grants beln9 recognised as expenditure when the conditions attachlng are fulfllled. Grants offered Subject to cDrtdltions whlch have not been rnet at the year end are noted as a cornmltment, but not accrued as expen(titure. 1.13) Offsettlng There has been no offsettlng of asset5 and liabllitte5, or Income and expenses, unless requlred or permltted by the FRS 102 SORP or FRS 102. 1.14) Tartgibla Flxed Ass¢ts The value of asse¢5 donated to the charitable company Is not reflected in the financial statements unless the value Is speclflcally advlsed. Tangible Ftxed Assets costing more than É250 are capltallsed 6nd included at COSt induding any Incldental costs of acqulsltlon. Oepreclation Is calculated at a rate to write off the Cost less estimated resldual valuè of tangible fixèd assets over Its expected Ilf¢. The rates used are.. Flrst Fruit (Charitable company) 2024123 2023/22 Just Homes (subsidiary Charitable company) 2024123 2023122 Fixtures and Httlngs Motor Vehide5 Computer Equiprnent Leasehold Improvements Computer Software Freehold Property 2SQJ Z5% 330h 25% 25 25% 25¥0 33% 25% 25% straight Ilne straight Ilne stralght line straight Ilne straight line straight Ilne 25Vo 33% 25° 33010 20 l4
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 2. INCOME AND f NDOWMENTS FROM: Unrestrlcted Funds Restrlrted Funds TOTAL 2024123 TOTAL 2023122 Notes a) Donations and Legacleg Donatlons Grants - Lernpriere Prlngle 5,074 210,000 5,074 210,000 1.940 75,000 215 074 215 074 b) Investmentg Bank Interest 6.945 6.945 905 6.945 905 c) Charltable ActlvStles Housing.. Houslng 8enefits and Social Servlces Payments Housing.. Income for Residents Clothès Recycling., Sole of Collerted Clothlng Cafa L.417,821 1,417,821 1,184,875 550 498 29,737 33,041 33,041 1 450 862 1450 862 1 215 660 d) Other Bad Debt Recovered Sundry Income 300 6.819 6,819 300 15
FIRsf FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 3. EXpENDuRE ON: Unrestrirted Funds estricted Fund5 TOTAL 2024123 TOTAL 2023122 Note5 a) Charitable Actlvities Direct Costs Housing Clothes lecycllng Cafe Small Grant5 Support, Advlce and other related costs Goverrbanc• Co$ts Accounrancy and Bookkeeping Fees Audlt Feas Legal and Professlonal Fees 804,411 804,411 769,574 978 19,878 1,207 294,536 24,240 24,240 395,024 395,024 6,110 5,800 4,266 6,110 6.207 10,980 6,987 4.266 1 239 851 1 239 851 347 Support, Advice and other related costs Include: 2024/23 2023122 Cle¥nlng Computer software Depreelatlon Insurart¢e Office equlpment Other Mortgage Interest Payroll Postage and statlonery Refrèshrnents Repalrs and Maintenance Salarles and Nl Staff lunch and welfare Subscrlptions Telephone Tralnino Travel Van Expenses Volunteers Website 955 1,143 141,955 991 463 161 127,357 320 695 102,925 889 949 1,097 76,443 90 846 240 1,391 348 3,750 111.293 1,280 954 1,140 106,653 932 364 529 297 873 60 275 59 133 825 885 395 024 3.b) Support, Advlce and other related costs by actlvity The Support, Advice and other related costs are wholly attrlbutable to the management of the social enterprises (Natural Harvest Café) and the management oversight of the subsldlary charity Just Homes Charttv. Social Enterprises (Café) Management Oversight Just Home5 TOTAL 2024123 Support, Advice and other related costs 39,502 355,522 395,024 39,502 16
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 4. NET INCOME/{EXPENDITURE) This is stated after charglno.. TOTAL 2024123 TOTAL 2023122 Auditors, remuneration - audit Depreciatlon Tanglble Flxed Assets 8,280 141 955 35 7,800 102 925 .(a) TANGIBLE FIXED ASSETS - Freèhold Leasehold Flxtures and Land and fmprovemenl Nttin95 Bullding5 Motor Vehlcles Computer Equipment 3110312024 Total Cost Addltlon5 Cost at OL-Apr-23 2,525,512 620 000 31-Mar-24 3 145 512 518,451 109 000 627 451 23,736 48,643 30,826 3, 147,168 729 000 3 876 168 Pepreclation alarqe prKl4riDn •r 31-Mw-24 01-Apr-23 143,067 280,331 23,240 496 42,007 30,826 519,471 141 955 64 Net 8ook Value 31-Mar-24 2 946 768 Net g¢ok vèlua 31-MJr.23 2,382,445 267 974 3 214 742 2,627,697 238, L20 496 6,636 .(b) TANGXBLE FJXED ASSETS - £tIAftiIx Freehold Land and eulldlngs Motor Vehlcle5 Computer Equlpment 3110312024 Total Cost Addltlons Disposals Cost at 01-Apr-23 2,S2S,5L2 620,000 36,869 2L,194 2,583,S75 620,000 31.Mar-24 3 14551 869 3,203 575 Depreclatlon Dlspos)ls Charge Depreciario 01-Apr-23 143,068 30,232 21,194 194,494 31-Mar-24 198 745 256 808 NBV NBV 31-Mar-24 31-Mar-23 2 946,767 2,382,444 2 946 767 ,389,081 The following propertles ère included within Freehold Land and Bulldln9S'. Shrewsbury Road Browning Road Cumberland Road Plashel Grove Cadyle Road Barking Road TTtle: NGL34043 Title.. EGL362199 Title.. EGL409429 Tltle.. EGL201893 Title.. EGL242842 Tltle.. EGL242843 17
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 6. INVESTMENTS Holding Valuation Valuation 0110412023 3110312024 Historical Cost lal Unlisted investments comprise of.. First Fruit Tradino Ltd IOD% 1,000 I,DOO 20,000 Ib) Subsldlary undertakSngs whlch have been included in the consolldated financlal statements are., Before adjusting for intercompany management charg•s Just Homes Charlty First Fmlt Trading Ltd 2024123 Nature of Control Appolntment of directors ioooh shareholding Nature cf Activlties Housing Projetts Natural Harvest Café Turnover Expenditure ProfiVILossI for the year 1,501,285 1 283 467 33,791 18 Net assets 891 772 Aft•r adjustlng lor inteOmpanY management <hary•¥ Just Homes Cttarlty Flrst Frult Trad5ng Ltd 2024123 Nature of Control Appolniment of directors LOOYO shareholdino Natur8 of Activities Houslng Project5 Natural HaNest Café Tumover Expenditure ProfiVILossl for the year 1,426,285 884 467 19 33,041 Net a55ets 896 772 18
FIRST FRUIT (A COMPANY LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 7. DEBTORS AND PREPAYMENTS Group Charity Total 3 1-Mar-24 Total 31-Mar-23 Total Total 31-Mar-24 31-Mar-23 Other Debtors Prepayments Trade Debtors 1,458 9,500 23,307 2,$48 277 21,994 5,814 857 8.500 277 CREDITOR5 AND ACCRUALS: AMOUNTS FALLING DUE WITMIN ONE YEAR Group Total 3L-Mar-24 Total 3L-Mar-23 Total 31-Mar-24 Total 31-Mar-23 Accountancy Fees Audlt Fees Other Creditors Trade Credltors Mortgage 5,160 8,700 9,916 6,576 152,231 5,160 ii,ioo 1,890 29,868 145,542 2,580 5,700 3,798 2,430 4,500 390 152,231 L45,542 182 583 193 SSD 15 44) CREDITORS AND ACCRUALS: AMOUNTS PALLING AER ONE YEAR Group Charity Total 31-Mar-24 Yotal 31.Mar-23 Total 31-Mar-24 Total 31-Mar-23 Mortgage 1,433,537 1,465,118 1,433, 537 1,465,118 A mortgage was taken out by Flrst Frult with Charlty Bank In 2019, for a perlod of 25 year5, carrylng an Interest rate of 30/D above the 8ank of England base rate. wlth the first drawdown ¢1 £400,000 on 4th July 2019. Thls was secure¢ on the property situated at Plashet Gmve, London. A further drawdown of El,002, 118 was taken on 13th September 2021 and used to repay the earlier mortgage and also asslst In the purchase of Browning Road, London. This mortgage is secured on the propertles situated at Cumbedand Road, Browning Road andlslnce June 20221 Carlyle Road, London. 19
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 9. AFF COSTS, NUMBERS AND THE C05T OF KEY MANAGEMENT PERSONNEL 31-Mar-24 31-Mar-23 Gross Wages and Salades Employerfs National Insurance Costs Employar Pension Contributions Ex Gratla ancl Redundancy 430,528 29,698 17,536 395,490 32,082 15,079 481 714 Average number of employees who were engaged In each of the following actyvlties.. 31-Mar-24 TOTAL 15.25 31-Mar-23 TOTAL L3.S AttivltSes In furtherance of organisatlon'5 objects Number of employees whose total employee benefits lexcluding employer penslon and natlonal Insurance c05tsl fell wlthln each band of £10,000 from £60,000 upwards.. Number of employees 2024123 2023122 Band £60,000 to £69,999 £70,000 to £79,999 £80,000 to £89,999 £90,000 to £99,999 £IOO,000 to £109,999 Staff are paid through the PAYE system. The Key Management Personnel comprlses the Board of Trustees and the Managlng Dlrertor. The total employee beneflts paid to key management personnel Ilncluding ernployer natlonal Insurance, employer penslon contrlbutlons and travel allowance) w?5 £101,842 12023122.. £98,908). 20
FIRST FRurr (A COMPANY LIMETED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 10. DIRECTORS AND OTHER RELATED PARTIES No reFnuneration was paid to dlrertors in respert of such office. One tmstee/director received remuneratlon for their role as CEO under a contratt of employment. These payments arn authorlsed by the Memorandum and Articles of Assodation of thè companv. 31-MJr.24 31-Mar-23 C Isaac Igros5 salary) C Isaac (employer pension) C Isaac (employer NI contribution) C Isaac (travel allowan) 82, 190 9,566 10,OS6 78,571 9,110 10,852 375 LOI 842 In thls flnancial year, a limited company 01 whsrh inJs¢ee/dlrecror M Cltments is a dirtttor {Authentlc HR Umltedl, received p4ym•nts totalllw £10,506 12023122,. £12,990) trom Just piomes Cnarlty la subsbdiary charlty of Flrst Frultl und•r a contract for serylces for HR serv1$ rendared. These payments ara perrnitted under tht Memorandurn and Artlcles of Assoclation of Just Home5 Charlty. In thls flnartclal year, • Ilrnlted company ¢1 wttlch a rrust•ldlre(tor ol Mr5t Fruit IA fvrmanl 15 a dlrector {Carter Lmon Camerons LLP). rÈ¢lved payments tor•lling £4,389 (from thÈ tt4te ol hls appointmnt as a Trus an 22 Novemb•r 20231 from Just Homes Charity la subsldlary charity of Flrst Frultl under a coniract for setvices for Legal services rendered. These paymants are permitted L*rnder the Memorandum and Articles of Associatlon of Just Homes Charlty 12023122: E6,600 was paid to Carter Lemon Cam•rgns LLP but A Flrman was not a Trustee of Flrsi Frult durlng the 2023122 flnanclal yearl. Management Charges were pald to the parent charlty First Frult, by its subsidiary undertaklngs, lor the use of prernlses, staff time and resource5. The amounts paid lor payable) are detailed beltsw.. 2024123 2023122 Just Homes Charlty First Fruit Tradlng Ltd Aspire Cornmunity Enterprise (East London) Ltd 95,000 6.000 90,OOD 9,500 ioi 000 107 900 Just Homes Charlty also paid rent to First Fruit for the followlng properties.. 2024123 2023/22 Plashet Grove Cumberland Road Shrewsbury Road Browning Road Carlyle Road 36,000 48,OOD 24,000 48,000 38,000 37,000 24,00 48,000 12,000 21
FIRST FRU (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCJAL STATEMENTS FOR THE YEAR ENDÈD 31ST MARCH 2024 11. STATEMENT OF FUNDS Statement of Funds Current Year Expenditure Balance 01-Apr-23 Income Transfers Bèlance 31-Mar-24 General Unrestrlcfed Funds 2 111 585 1 679,700 1 239 851 2 SSL 434 Women's Work {Madellne Housel TOTAL OF FUNDS 2 ILL 585 1,679 700 1 239 851 2 $51 434 Statement of Funds Prlor Year Expendlture Balance 01-Apr-22 Income Transfers Balance 31-Mar-23 General Unrestricted Funds 1928 127 1 293 255 1 109 797 2 111 $85 Women's Work (Madellne House) 550 S50 550 550 TOTAL OF FUNDS 1928 L27 1 293 805 1 110 347 2 111 585 12. SUMMARY OF FUNDS Summary Of fund5 Current Year Expendlture Balance 01-Apr-23 Income Transfers Balance 31-14ar-24 General funds Restrlcteo funds 2,1 l 1,585 1,679,700 11,239,851> 2,SSI,434 111 585 551 434 Prlor Y•ar Expenditure aalance Ql-Apr-22 Incorne Translers Balance 31-Mar-23 General funds Restricted funds 1,928,127 1,293,255 {1,109,797) 550 15501 2,111,58S 1 928 127 1 293 805 1 110 347 2 111 585 22
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Current Year Restricted Fund Unrestricted Fund Total 2024123 Tangible Fixed A%sets Current assets Creditors due within one year Creditors due in more than one year 3,214,742 952,812 1182,583) 11,433,537) 3,214,742 952,812 l 182,5831 11,433,537) 2 551,434 2 S51 434 Prior Year Restricted Fund Unrestritted Fund Total 2023122 Tangible Fixed Assets Current assets CredIto due withln one year Credltors due In more tharn one year 2,627,697 1,142,566 1193,5601 11,465,118) 2,627,697 1, 142,566 1193,S60> 11,465, 118> 2 111 585 2 111 585 14. CONTROLLING PARTY The charity First Fnjlt Is Ilmlted by guarantee, and is controlled by its board of trusiees Idirertor51. 15. TAXATION The Charlty rst Frult Is a reglstered ch)rlly (number 10667491 and is exempt from taxatlon in accordance with Part 10 of the Income Tax Att 2007; all expenditure Is applled for charltable purposes and therefore has no Ilability to corporatlon t3x. Any corporation tax payable by subsldlary companles on trading profits is computed and pald separately. Value Added Tax is not recoverable by the charlty and is therefore included Sn the relevant costs in the SOFA. 16. COMPANY STATUS The ¢hJdty First Frult Is a company limited by guarantee. The rnernbe ol the charltable company Include the trustees named on page 2. Ln ihe event of the charltable company tielng wound up, the Ilablliry In respect of the guarantee is Ilmlted to £10 per member of the charity. 17. PENSEON COMMITMENTS The charlty First Frult operates a deflned contrlbutlons pension scheme. The assets of the scheme are hèld separately from those of the cornpany in an independently admini5t8red fund. The penslon cost charge represents contributlons payable by the company to the fund and amounted to £17,53612023122', £15,079). 18. POST BALANCE SHEET EVENTS The charity proposes to purchase a further property in fi'nanclal year 24125. Our free reseNes will enable this purchasè. The Trustees conflmi there ar* no other post balance sheet events that require dlsclosure. 23
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 19. LEASING COMMrrMENTS The annual commitments under non-cancelling operating leases and Capital commitments are as follow5.. 2024123 2023122 RolliThJ lease Leases explririg wlthin one to Nve years Leases expiring In over 5 years 306,360 43,255 234,360 per annum per annum 42,827 per annum 349 615 277 187 Rentals applicable to operating lea5e5 are ctharged to the SOFA over the perlod in whlch the c05t Is incurred. Assets purchased under flnance leases are capfrtallsed as fixed assets. Obligatlons under such agreements are Included in credltors. The difference between the pItliSed cost and the total obligation under the lease represents the flnance charges. Finance charges are written off to the SOFA over the period of the lease so as to produce a constant perlodlc rate of change. 20. CONTINGENT LIABIL The chadty Flrst Fruit hos become aware ol • prt•hD•I delx on wlthdr•w•l Irom the p•nilon In which thev particlpare. The debt would only crystall1 if èll attl¥e members le•ve the Won. Once tjse penslon pot gets to a lully funtted solvency p051tion there would no longer be a debt on withdrawal payable should the mernbers leave the Plan, The estlmated employer debt on wlthdrawal from the PlJn las calculated by the Scheme Attuaryl at 30th September 2023 Is £1,999. 24
FIRsf FRUIT (A COMPANY LIMITED BY GUARANTEÈ) CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024123 2023122 Cash provlded by/{usÉd in) operating activities 554 436 388 665 Cash used from investln9 aCtlvStl•s Interest income 6,945 905 Purchase of tèngible flxed assets 1729,0001 1809,160) Cash provided by (used in) invastin9 activrties 722 055 808 255 sh flow$ from flnanclng activlties Repayment of long term borrowlng 131,5811 Cash inflowslloufflows) from new long tarm borrowin9 508,121 Cash us•d Èn flnanclng artivltles 508 121 ItKrea5e/{decfftasel sn cash ancl cash equivalent5 in the year 199 200 sh and cash equlvaleb)ts at the start of the year 1,117,747 1,029,216 TOTAL cash and eash equlvalents at the end of the y•ar Ib) 918 547 1 117 747 (a) Reconcillation of n•t mov•ment In funds to nat cash flow from operatjftg artlvltie* 2024123 2023122 Net movement in funds Add back depreciation charge Deduct Interest income shown in investlng attivities Decrease/lincrea5el In debtors Tncreaselldècrease) in credltors 439,849 141,955 183,458 102,925 16,945) 19,446} (10,9771 19051 2,989 100, 198 Net cash provlded by/(Ud In) operatlng a¢tlvltle• 554 436 (b) An•lysl$ of c•sh and ush equival•nts 2024123 2023122 Cash at bank and In hand Total cash and cash equlvalents 918 547 918 547 1 117 747 1.117 747 (c) Analy$is of ch•n9es Sn nèt debt At srt of vear Cash flows Acquisltionl disposal of sub51diaries New finance leases Falr value movements Foreign exchange movetnents At end of year Cash 1.117,747 (199,2001 918,547