FIRST FRUIT ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 CHARITY REGISTRATION No: 1066749 COMPANY REGISTRATION No: 03477267 Baldwin Scofield Ltd Chartered Accountants Statutory Auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU
Pages 2 to 6 Pages 7 to 9 Page 10 Page 11 Page 12 Pages 13 to 24 Page 25 FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) CONTENTS Report of the Directors Independent Auditors' Report Consolidated Statement of Financial Activities Consolidated Balance Sheet Charity Balance Sheet Notes to the Financial Statements Consolidated Statement of Cashflows
CHARITY NUMBER COMPANY REGISTRATION NUMBER START OF FINANCIAL YEAR END OF FINANCIAL YEAR TRUSTEES FIRST FRUI (A COMPANY LIMITED BY GUARANTEE REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 LEGAL AND ADMINISTRATIVE INFORMATION 1066749 03477267 1st April 2024 31st March 2025 Peter Sell (Chairman) Christina Isaac (Managing Director) Charles Oham Julia Acott Mark Clements Andrew Firman Trustees are appointed by the existing trustees. REGISTERED ADDRESS DATE OF INCORPORATION GOVERNING DOCUMENT BANKERS AUDITORS 34 Norwich Road Forest Gate London E7 9JH 2nd December 1997 Memorandum and Articles of Association Primary Barclays Bank PIc Unit 2 58 High Street North East Ham E6 2HW Baldwin Scofield Ltd Chartered Accountants Statutory Auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 2
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 The trustees are pleased to present their report together with the financial statements of the charity for the year ending 31st of March 2025. Reterence and administrative details set out on page 2 torm part of this report. The tinancial statements comply with current statutory requirements, the memorandum of association and in accordance with the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)). Structure, Governance and Management. First Fruit was incorporated as a company limited by guarantee on 2nd December 1997 with company number 3477267 and is registered with the Charity Commission with number 1066749. The Charity operates from its premises at 34 Norwich Road, Forest Gate E7 9JH. The Trustees act as company directors for Companies Act purposes and meet regularly to manage its affairs. The charity employs two staff, one full time and one part time, who are engaged in charitable activities, finance and day to day administration. Objectives and activities The objectives of First Fruit are: The advancement of the a risin Faith This is core through ten chine drained release real e work together to achieve this. The sing mence ducating for the elf of norty of people in ned dircuntances this involves irst Fruit has been pursuing these objectives through the running of homeless hostels and social enterprises. The aim i ach of these areas is to provide a sense of security and belonging to develop basic work and domestic disciplines within supported and caring but commercial environment. Social enterprises are run either directly through First Fruit or to legal entities set up under First Fruit and housing though Just Homes. First Fruit's social enterprises are dependent on the work of volunteers. Apart from trustees, First Fruit does not receive significant donations in kind or other intangible income. Public Benefit The directors have had due regard to the Charity Commission's guide on public benefit in planning activities for the year. The charity aims to provide a variety of accommodation and support provisions for a spectrum of people falling under the homeless, unemployed and/or with a history of drug and alcohol abuse, women with young children with no recourse to public funds and families in low-income brackets. The charity considers the provision of accommodation and support to the ahove client aroun and activities contributes to nublic. benefit. between ine various projects tne carity can proviae accommodation-pasea support to 1z men ana up to 12 women ana 14 children across 10 different premises across Newham. During the last financial year up to 31st of March 24, we bought a further house in Newham and completed the refurbishment. The house was ready for occupancy in October 2024. This house is now used for our men's work increasing our previous capacity of 64 to 72 for single homeless men during the financial year 23 to 24. Our social enterprise provides 8 to 10 voluntary work placements. 3
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 Staff have worked hard to support our residents during the year. All our clients have been provided with one to one support in a variety of areas. Much effort has gone into supporting our clients to gain independent living skills. A variety of social events were organised for the residents throughout the year, including summer BBQs, themed parties, and Christmas parties at our various homes. Meaningful hampers 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 hostels were also supported with warm clothing during winter months. Some residents were supported to access various small grants pots. All children in school age have been supported to have school uniforms and related supplies. Some were given small grants from the charity's own funds. The charity has provided free meals, toiletries and some personal hygiene products to our residents. All our residents continue to have access to free laundry and drying facilities. In addition to the one-to-one support provided we have networked with partner agencies to enable our residents to access a variety of support provisions. Our social enterprise Natural Harvest continues to support those are recovering from mental health issues and also provide valuable work placements to our clients. It also serves as a meeting place for vulnerable older people who attend the Health centre. Achievements and performance Just Homes Charity has provided a commendable service in the last financial year. We have continued to review and revise the way we provide support and also made the support we deliver to cater to the post covid world with a focus on enabling residents to access and operate safely online. All our premises provide free Wi-Fi facilities. referrals than the 72 bed spaces we currently have for our men's work. Last year, we have supported 139 male clients of which we moved on 67 from our projects. Clients have been supported to gain electronic equipment and trained to access a 55 were enabled to access online banking, 64 enabled to manage a debit card, 61 enabled to have personal emails and 63 enabled to access universal credits online, 48 assisted to access GP services, and 23 access to Dental services. 23 have moved on with employment or employment related training, 6 moved into privately rented accommodation and 16 returned to friends and family. Last year we had a 99.3% occupancy rate. Women's work: Last year we supported 29 adults and 30 children through our women's work. We have now developed a wide network of agencies to support these women in addition to the support we provide. 17 mothers and their 17 children moved on from our services last year. We supported all of them to move on from us by accessing housing services and appropriate benefits. Through our network of local partners, we were able to offer various levels of support to all of them. 9 received support on immigration matters, 9 accessed counselling services, 4 women were enrolled with ESOL literacy and numeracy courses, 17 were supported to access clothing, toys and books bank, 17 were supported with food banks, 9 were supported with parenting and midwifery services. 2 children also accessed free 15 hours nursery placements. We have common laptops for resident use at each premises. Last year we had a 92% occupancy rate. Social Enterprise: Our snack bar Natural Harvest, based in the Shrewsbury Road health centre, continues to provide a valuable service to the local community with its services. We work with recovering mental health clients providing therapeutic work placement. The work placement opportunities are also open to residents of Just Homes and offered to support them gain experience as a route into employment. Over last year, we have supported 5 mental health patients and 3 residents with work placements. The café also forms a social hub for vulnerable older clients of the Health Centre. Other events just Homes deing an accommodation-pasea nousing proviger neeas dullaings to operate trom. trustees are working nara to wn properties and establish is as a significant supported accommodation organisation in Newham. Trustees are working towards purchasing further property which has a potential of being developed into a 22 bed property in the financial year For clarity the properties will be purchased by First Fruit and with the intention of Just Homes Charity providing accommodation-based support from these premises. 4
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 Financial Review The First Fruit Group has a free reserve of £1,234,618. Just Homes the Housing arm continues to be the main activity of the charity. The Charity is confident that we have the good level of reserves across all of the First Fruit Group mortgage interest rates. Being an accommodation-based provider of support, it is in the interest of the charity to own its own accommodation: acilities. The larger properties managed by the charity are owned by private landlords and hence the charity is focusing or acquiring further properties to ensure the charity has its own supply of properties. We have also invested in improving the facilities of our accommodation provisions, the support services we offer and the wellbeing of our staff team. The charity proposes to purchase a further property in financial year 25 to 26. This property when developed will have a capacity of 22 bed space. We are operating on the basis this property will be ready for occupancy in time for decanting Cooper Street premises at the end of December 2026. Natural Harvest has stabilised. The number of clinics in the surgery has reduced in recent years affecting the turnover of the business. However, the café is stable and operating well. Risk Management mitigate those risks. The trustees have reviewed the major risks to which the charity is exposed and are satisfied that systems are in place to The above report is prepared in accordance with the special provisions within Part 15 of the Companies Act 2006 relating to small companies. Management accounts are examined at every trustees meeting. During the year the trustees have carried out a review of the Charity's internal financial controls and checked that separate funds are accounted for and reported correctly in the accounts. The accounts presented are complete set of accounts. The Trustees are of the opinion that First Fruit group is a oing concern and is in a financial position to settle outstanding invoices, bills and commitments as and when they fall due he reserves levels of the charity and group were also examined during the course of the year and the trustees are happy with the levels of reserves. 5
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2025 Statement of Director's responsibilities: The Trustees (who are also directors of First Fruit Charity 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). 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 the 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 then apply them consistently; observe the methods and principles in the Charities SORP; nake judgments and accounting estimates that are reasonable and prudent repare the financial statements on the going concern basis unless it is inappropriate to presume that th charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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. DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware, and hat Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of tha information. I approve the attached statement of financial activities and balance sheet for the year ended 31 March 2025, and confirm that I have made available all information necessary for its preparation. Approved by order of the members of the board of Trustees on .3/12/25..... and signed on their behalf by: Christina Isaac Shut love. 6
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIRST FRUIT OPINION We have audited the financial statements of First Fruit (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 March 2025 set out on pages 10 to 25. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financia Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements ve a true and fair view of the state of the group's and of the parent charitable company's affairs as at 3 arch 2025 and of the group's incoming resources and application of resources, including its income an expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and • have been prepared in accordance with the requirements of the Charities Act 2011. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethica Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or • the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group's or the parent charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIRST FRUIT OTHER INFORMATION The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or the parent charitable company has not kept sufficient accounting records; or the parent charitable company financial statements are not in agreement with the accounting records and returns; or • we have not received all the information and explanations we require for our audit RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being atisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enabl ne preparation of financial statements that are free from material misstatement, whether due to fraud or error In preparing the financial statements, the Trustees are responsible for assessing the group's and the parent charitabl company's ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Dur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materia nisstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable taken on the basis of these financial statements. 8
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FIRST FRUIT Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant are those that relate to the reporting framework in conformity with the requirements of the Companies Act 2006, Charities Act 2011 and the relevant direct and indirect tax compliance regulations in the United Kingdom. We understood how First Fruit Group is complying with those frameworks by making enquiries of management to understand how the charitable company maintains and communicates its policies and procedures in these areas and corroborated this by reviewing supporting documentation and minutes of meetings of those charged with governance. We assessed the susceptibility of the group's financial statements to material misstatement, including how fraud might occur by considering the risk of management override to be a fraud risk. In addition, we considered the risk of management override by sampling from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria and investigated these to gain an understanding and then agree back to source documentation. Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions were recorded in compliance with Financial Reporting Standards in conformity with the requirements of the Companies Act 2006 and Charities A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. USE OF OUR REPORT This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. Samsonia V1 Baldwin Scofield Ltd Chartered Accountants Statutory Auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 3 December 2025 Baldwin Scofield Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 INCOME AND ENDOWMENTS FROM: Donations and Legacies Investments Charitable Activities Other TOTAL INCOME EXPENDITURE ON: Charitable Activities TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Transfers Between Funds NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD Notes Unrestricted Funds € Restricted Funds TOTAL 2025/24 TOTAL 2024/23 2.a 2.b 2.0 2.0 3.a 11 213,861 14,401 1,769,546 1,997,808 1,517,340 1,517,340 480,469 480,469 2,551,434 3,031,903 - 213,861 14,401 - 1,769,546 1,997,808 215,074 6945 1,450,862 6,819 1,679,700 - 1,517,340 1,239,851 1,517,340 1,239,851 - 480,469 439,849 480,469 439,849 - 2,551,434 2,111,585 3,031,903 2,551,434 Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 13 to 25 form part of these financial statements. 10
Fixed Assets Tangible assets Investments Current Assets Debtors sh at bank and in han tal Current Asset Yeaditors: amounts fling due within one NET CURRENT ASSETS reditors: amounts falling due in mo lan one yea TOTAL ASSETS less current liabilities NET ASSETS Funds of the Charity General Funds Restricted Funds Total Funds FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH 2025 Unrestricted Funds Note 8 8.a 11 3,204,537 31,769 1,392,461 1,424,231 189,613 1,234,618 1,407,252 3,031,903 3,031,903 3,031,903 3,031,903 Restricted 31-Mar-25 31-Mar-24 Funds Total Total : 3,204,537 3214,742 : - 31,769 1,392,461 1,424,231 189,613 34,265 918,547 952,812 182,583 1,234,618 770,229 1,407,252 1,433,537 - 3,031,903 2,551,434 - 3,031,903 2,551,434 - 3,031,903 2,551,434 - 3,031,903 2,551,434 The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. he accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable t ompanies subject to the small companies regime and in accordance with the Charities SORP (FRS102) (effective 1 Januar 2019). The directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and if its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. 8/12/25 The financial statements were approved and authorised for issue by the Trustees on .... .... and signed on their behalf by: Mr P Sell The notes on pages 13 to 25 form part of these financial statements. 11
Fixed Assets Tangible assets Investments Current Assets Debtors Cash at bank and in hand Total Current Assets Creditors: amounts falling due within one year NET CURRENT ASSETS/(LIABILITIES) Creditors: amounts falling due in more than one year TOTAL ASSETS less current liabilities NET ASSETS/ (LIABILITIES) Funds of the Charity General Funds Restricted Funds Total Funds FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) CHARITY BALANCE SHEET AS AT 31ST MARCH 2025 Unrestricted Funds Note 5.b 6 8 8.a 2,883,857 1,000 3,000 454,141 457,141 164,790 292,351 1,407,252 1,769,956 1,769,956 Registration number: 03477267 Restricted Funds 31-Mar-25 31-Mar-24 € Total € Total € : 2,883,857 2,946,767 1,000 1,000 3,000 6,671 454,141 294,301 457,141 300,972 164,790 164,309 292,351 136,663 - 1,407,252 1,433,537 - 1,769,956 1,650,893 - 1,769,956 1,650,893 1,769,956 1,769,956 : 1,769,956 1,650,893 - 1,769,956 1,650,893 The directors are satisfied that for the year ended on 31 March 2025 the charitable company was entitled to exemption fron the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have quired the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the A wever, an audit is required in accordance with section 151 of the Charities Act 20 The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Charities SORP (FRS102) (effective 1 January The directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and if its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. 3/14/25 The financial statements were approved and authorised for issue by the Trustees on ..... ...... and signed on their behalf Mr P Sell The notes on pages 13 to 25 form part of these financial statements. 12
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 1. Accounting Policies 1.1) Basis of Preparation The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. First Fruit 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. Consolidation he group consolidated financial statements combine the results of the charitable company First Fruit and its subsidiar undertakings, Aspire Community Enterprise (East London) Ltd (dissolved 12 September 2023), First Fruit Trading Limite and Just Homes Charity. The net income and expenditure result for the year dealt with in the accounts of the First Fruit Charity accounts was £119,063 (2024/23: £219,845). 1.2) Material prior period errors and changes to previous accounts No material prior period errors have been identified in this accounting period and there have been no changes to previous accounts. 1.3) Preparation of accounts on a going concern basis Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward. 1.4) Income Income is included in the Statement of Financial Activities (SOFA) when: • the charity becomes entitled to the income; • it is more likely than not that the trustees will receive the resources; and • the monetary value can be measured with sufficient reliability. 1.5) Interest receivable Interest on funds held on deposit is included when receipt is probable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. 1.6) Grants and Donations Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). 1.7) Income Tax Recoverable Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. 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. 1.8) Legacies For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt 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 the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. 13
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 1.9) Donated services and facilities Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the general volunteer time of the Friends is not recognised and refer to the Trustees report for more information about their contribution. On receipt donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market, a corresponding amount is recognised in expenditure in the period of receipt. 1.10) Government Grants The charity has not received any government grants in the reporting period. 1.11) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated 1.12) 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 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 allocated on the portion of the asset's USc. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at centrally. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued 1.13) Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. 1.14) Tangible Fixed Assets The value of assets donated to the charitable company is not reflected in the financial statements unless the value is specifically advised. Tangible Fixed Assets costing more than £250 are capitalised and included at cost including any incidental costs of acquisition. Depreciation is calculated at a rate to write off the cost less estimated residual value of tangible fixed assets ove ts expected life. The rates used are Fixtures and Fittings Motor Vehicles Computer Equipment Leasehold Improvements Computer Software Freehold Property First Fruit Just Homes (Charitable company) (subsidiary Charitable company) 2025/24 2024/23 2025/24 2024/23 25% 33% 25% 25% 33% 25% 25% 33% 25% 25% 33% 2%| 25% 25% 25% - straight line straight line straight line straight line straight line straight line 14
- INCOME AND ENDOWMENTS FROM: FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Unrestricted Funds Notes € Restricted Funds € TOTAL 2025/24 TOTAL 2024/23 a) Donations and Legacies Donations Grants - Lempriere Pringle 4,861 209,000 213,861 : = 4,861 209,000 213,861 5,074 210,000 215,074 b) Investments Bank Interest 14,401 14,401 14,401 14,401 6,945 6,945 c) Charitable Activities Housing: Housing Benefits and Social Services Payments Cafe 1,739,160 30,386 1,769,546 d) Other Sundry Income 1,739,160 1,417,821 30,386 33,041
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1,769,546 1,450,862 - - 6,819 6,819 15
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EXPENDITURE ON: FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Unrestricted Funds Notes Restricted Funds € TOTAL 2025/24 TOTAL 2024/23 a) Charitable Activities Direct Costs Housing Cafe Support, Advice and other related costs Governance Costs Accountancy and Bookkeeping Fees Audit Fees Legal and Professional Fees 3.b 1,031,859 22,558 447,388 5,280 9,300 955 1,517,340 1,031,859 22,558 447,388 5,280 9,300 955 1,517,340 804,411 24,240 395,024 6,110 5,800 4,266 1,239,851 Support, Advice and other related costs include: 2025/24 857 751 186,367 30 136 125,814 1,008 2024/23 Cleaning Computer software Depreciation Insurance Office equipment Other Mortgage Interest Postage and stationery Refreshments Repairs and Maintenance Salaries and NI Staff lunch and welfare Subscriptions Telephone Training Travel Van Expenses Volunteers 955 1,143 141,955 991 463 161 127,357 1,391 93 131,282 436 283 280 348 3,750 111,293 1,280 954 1,140 133 825 885 447,388 395,024 3.b) Support, Advice and other related costs by activity The Support, Advice and other related costs are wholly attributable to the management of the social enterprises (Natural Harvest Café) and the management oversight of the subsidiary charity Just Homes Charity. Social Management TOTAL Enterprises Oversight (Café) Just Homes Support, Advice and other related costs 74,739 402,619 44,739 402,649 2025/24 447,388 447,388 16
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 4. NET INCOME/(EXPENDITURE) This is stated after charging: Auditors' remuneration - audit Depreciation - Tangible Fixed Assets 5. (a) TANGIBLE FIXED ASSETS - GROUP and and improsened Firess Buildings Cost 01-Apr-24 3,145,512 Additions Cost at 31-Mar-25 3,145,512 Depreciation 01-Аpr-24 Charge 198,744 Depreciation at 31-Mar-25 202,010 Net Book Value 31-Mar-25 2,883,858 Net Book Value 31-Mar-24 2,946,768 627,451 173,784 801,235 359,477 122,664 482,141 319,094 267,974 23,736 23,736 23,736 23,736 5.(b) TANGIBLE FIXED ASSETS - CHARITY Motor Vehicles 48,643 48,643 48,643 48,643 TOTAL 2025/24 € 9,000 186,366 195,366 TOTAL 2024/23 € 8,280 141,955 150,235 Computer 31-Mar-25 Equipment € € 30,826 3,876,168 2,377 176,161 33,203 4,052,329 30,826 661,426 286,365 1,585 3,204.537 3,214,742 Cost 01-Apr-24 Additions Disposals Cost at Depreciation 31-Mar-25 01-Apr-24 Disposals Charge Depreciation 31-Mar-25 Net Book Value 31-Mar-25 Net Book Value 31-Mar-24 Freehold Land and Buildings 3,145,512 3,145,512 198,745 62,910 261,65! 2,883,857 2,946,767 The following properties are included within Freehold Land and Buildings: Shrewsbury Road Title: NGL34043 Browning Road Title: EGL362199 Cumberland Road Title: EGL409429 Plashet Grove Title: EGL201893 Carlyle Road Title: EGL242842 Barking Road Title: EGL242843 Motor Vehicles 36,869 36,869 36,869 36,869 Computer 31-Mar-25 Equipment Total 21,194 3,203,575 21,194 3,203,575 21,194 256,308 21,194 - 62,910 319,718 2,883,857 2,946,767 17
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 6. INVESTMENTS Holding (a) Unlisted investments comprise of: First Fruit Trading Ltd 100% Valuation 01-Apr-24 1,000 (b) Subsidiary undertakings which have been included in the consolidated financial statements are: Before adjusting for intercompany management charges Just Homes First Fruit Charity Trading Ltd 2025/24 Nature of Control Appointment 100% of directors shareholding Nature of Activities Housing Natural Projects Harvest Café Turnover Expenditure Profit/(Loss) for the year Net assets 1,928,894 30,386 1,568,476 29,398 360,418 988 1,252,190 10,757 After adjusting for intercompany management charges Just Homes First Fruit Charity Trading Ltd 2025/24 Nature of Control Appointment 100% of directors shareholding Nature of Activities Housing Natural Projects Harvest Café € € Turnover Expenditure Profit/(Loss) for the year Net assets 1,753,894 30,386 1,160,475 23,398 593.420 6,988 1,252,190 13,707 Valuation 31-Mar-25 1,000 Historical Cost 20,000 18
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) VOTES TO THE FINANCIAL STATEMENT. OR THE YEAR ENDED 31ST MARCH 202. 7. DEBTORS AND PREPAYMENTS Group Total 31-Mar-25 € Total 31-Mar-24 Other Debtors Prepayments Trade Debtors 9,05 22,71 31,769 1,458 9,500 23,307 34,265 STEN ONES AND ACCRUALS: AMOUNTS FALLING DUE Total Group Total 31-Mar-25 31-Mar-24 Accountancy Fees Audit Fees Other Creditors Trade Creditors Mortgage 5,310 5,160 9,300 8,700 11,927 9,916 10,762 6,576 152,314 152,231 189,613 182,583 8.a) CREDITORS AND ACCRUALS: AMOUNTS FALLING AFTER ONE YEAR Group Total Total 31-Mar-25 31-Mar-24 Charity Total Total 31-Mar-25 31-Mar-24 € 3,000 : 5,814 857 3,000 6,671 Charity Total Total 31-Mar-25 33-Mar-24 2,580 2,580 6,000 5,700 3,896 3,798 152,314 152,231 164,790 164,309 Charity Total Total 31-Mar-25 31-Mar-24 Mortgage 1,407,252 1,433,537 1,407,252 1,433,537 1,407,252 1,433,537 1,407,252 1,433,537 mortgage was taken out by First Fruit with Charity Bank in 2019, for a period of 25 years, carrying an interest rate of 3' bove the Bank of England base rate, with the first drawdown of €400,000 on 4th July 2019. This was secured on tr property situated at Plashet Grove, London. A further drawdown of £1,002,118 was taken on 13th September 2021 and used to repay the earlier mortgage and also assist in the purchase of Browning Road, London. This mortgage is secured on the properties situated at Cumberland Road, Browning Road and (since June 2022) Carlyle Road, London. 19
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 9. STAFF COSTS, NUMBERS AND THE COST OF KEY MANAGEMENT PERSONNEL 31-Mar-25 Gross Wages and Salaries Employer's National Insurance Costs Employer Pension Contributions Ex Gratia and Redundancy 525,937 40,634 21,644 3,569 591,784 Average number of employees who were engaged in each of the following activities: 31-Mar-25 TOTAL 15.25 31-Mar-24 430,528 29,698 17,536 3,952 481,714 31-Mar-24 TOTAL 15.3 Activities in furtherance of organisation's objects Number of employees whose total employee benefits (excluding employer pension and national insurance costs) fell within each band of £10,000 from £60,000 upwards: Number of employees 2025/24 2024/23 Band £60,000 to 269,999 £70,000 to £79,999 €80,000 to £89,999 £90,000 to £99,999 £100,000 to £109,999 Staff are paid through the PAYE system. The Key Management Personnel comprises the Board of Trustees and the Managing Director. The total employee benefits paid to key management personnel (including employer national insurance, employer pensior contributions and travel allowance) was £121,160 (2024/23: £101,842). 20
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) OTES TO THE FINANCIAL STATEMENT OR THE YEAR ENDED 31ST MARCH 202 10. DIRECTORS AND OTHER RELATED PARTIES No remuneration was paid to directors in respect of such office. One trustee/director received remuneration for their role as CEO under a contract of employment. These payments are authorised by the Memorandum and Articles of Association of the company. 31-Mar 25 31-Mar: 24 C Isaac (gross salary) : Isaac (employer pensior : Isaac (employer NI contribution C Isaac (travel allowance) 97,477 82,190 11,487 9,566 12,196 10,086 121,160 101,842 In this financial year, a limited company of which a trustee/director of First Fruit (M Clements) is a director (Authentic HR Limited), received payments totalling £22,284 from Just Homes Charity (a subsidiary charity of First Fruit) under a contract for services for HR services rendered. These payments are permitted under the Memorandum and Articles of Association of In this financial year, a limited company of which a trustee/director of First Fruit (A Firman) is a member (Carter Lemon Camerons LLP), received payments totalling £21,120 (2024/23: £4,389) from Just Homes Charity (a subsidiary charity of First Fruit) under a contract for services for Legal services rendered. These payments are permitted under the Memorandum Management Charges were paid to the parent charity First Fruit, by its subsidiary undertakings, for the use of premises, staf time and resources. The amounts paid (or payable) are detailed below: Just Homes Charity First Fruit Trading Ltd Aspire Community Enterprise (East London) Ltd 2025/24 125,000 6,000 131,000 2025/24 48,000 51,000 42,000 52,000 53,000 37,000 283,000 2024/23 95,000 6,000 101,000 Just Homes Charity also paid rent to First Fruit for the following properties: Plashet Grove Cumberland Road Shrewsbury Road Browning Road Carlyle Road Barking Road 2024/23 € 36,000 48,000 24,000 48,000 48,000 204,000 21
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 11. STATEMENT OF FUNDS Statement of Funds Unrestricted funds General Unrestricted Funds estricted fund omen's Work (Madeline Hous TOTAL OF FUNDS Statement of Funds Unrestricted funds General Unrestricted Funds Restricted funds Women's Work (Madeline House) TOTAL OF FUNDS 12. SUMMARY OF FUNDS Summary of funds General funds Restricted funds Balance 01-AP+-24 2,551,434 Income 1,997,808 Current Year Expenditure (1,517,340) 2,551,434 Balance 01-Apr-23 2,111,585 1,997,808 (1,517,340) Prior Year Income Expenditure 1,679,700 (1,239,851) General funds Restricted funds 2,111,585 Balance 01-AD-24 2,551,434 2,551,434 Balance 02-A0F-23 2,111,585 2,111,585 1,679,700 (1,239,851) Income € 1,997,808 Current Year Expenditure (1,517,340) 1,997,808 (1,517,340) Income € Prior Year Expenditure 1,679,700 (1,239,851) 1,679,700 (1,239,851) Transfers 3,031,903 : Transfers 3,031,903 Balance 31-Mar-24 2,551,434 : 2,551,434 Transfers Transfers € : Balance 31-Mar-25 3,031,903 3,031,903 Balance 31-Mar-24 € 2,551,434 2,551,434 22
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Fixed Assets Current assets Creditors due within one year Creditors due in more than one year Tangible Fixed Assets Current assets Creditors due within one year Creditors due in more than one year Unrestricted Fund 3,204,537 1,424,231 (189,613) (1,407,252) 3,031,903 Unrestricted Fund € 3,214,742 952,812 (182,583) (1,433,537) 2,551,434 Current Year Restricted Fund Prior Year Restricted Fund Total 2025/24 : 3,204,537 1,424,231 (189,613) - (1,407,252) 3,031,903 Total 2024/23 € 3,214,742 952,812 (182,583) 2,551,434 14. CONTROLLING PARTY The charity First Fruit is limited by guarantee, and is controlled by its board of trustees (directors). 15. TAXATION The charity First Fruit is a registered charity (number 1066749) and is exempt from taxation in accordance with Part 10 of the Income Tax Act 2007; all expenditure is applied for charitable purposes and therefore has no liability to corporation tax. Any corporation tax payable by subsidiary companies on trading profits is computed and paid separately. Value Added Tax is not recoverable by the charity and is therefore included in the relevant costs in the SOFA. 16. COMPANY STATUS The charity First Fruit is a company limited by guarantee. The members of the charitable company include the trustees named on page 2. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. 17. PENSION COMMITMENTS The charity First Fruit operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £21,644 (2024/23: £17,536). 18. POST BALANCE SHEET EVENTS The charity has been served notice under section 25 of the Landlord and Tenant Act 1954 to vacate one of the properties it occupies. The charity is disputing that the notice has been lawfully issued, has issued a counterclaim and is seeking to negotiate an outcome whereby occupancy can continue until a replacement property is ready for occupation. Consequently, the charity may need to incur material legal and professional fees during this process. 23
FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 19. LEASING COMMITMENTS The annual commitments under non-cancelling operating leases and capital commitments are as follows: 2025/24 Rolling lease Leases expiring within one to five years Leases expiring in over 5 years 398,760 43,687 2024/33 306,360 per annum 43,255 per annum - per annum 442,447 349,615 Rentals applicable to operating leases are charged to the SoFA over the period in which the cost is incurred. Assets purchased under finance leases are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written off to the SoFA over the period of the lease so as to produce a constant periodic rate of change. 20. CONTINGENT LIABILITY The charity First Fruit has become aware of a potential debt on withdrawal from the pension scheme in which they participate. The debt would only crystallise if all active members leave the Plan. Once the pension pot gets to a fully funded solvency position there would no longer be a debt on withdrawal payable should the members leave the Plan. The estimated employer debt on withdrawal from the Plan (as calculated by the Scheme Actuary) at 30th September 2023 was £1, 999. 24
Cash provided by/(used in) operating activities FIRST FRUIT (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2025 2025/24 E 661,959 (a) 2024/23 554,436 Cash used from investing activities Interest income Purchase of tangible fixed assets 14,401 (176,161) 6,945 (729,000) Cash proaced by used ins (161,760) (722,055) Cash flows from financing activities Repayment of long term borrowing (26,285) (31,581) Cash inflows/(outflows) from new long term borrowing Cash used in financing activities (26,285) (31,581) Increase/(decrease) in cash and cash equivalents in the year 473,914 (199,200) ash and cash equivalents at th art of the yea 918,547 1,117,747 ToTAl cash and eash equivalents (b) 1,392,461 918,547 (a) Reconciliation of net movement in funds to net cash flow from operating activities 2025/24 2024/23 Net movement in funds Add back depreciation charge Deduct interest income shown in investing activities Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by/ (used in) operating activities (b) Analysis of cash and cash equivalents 480,469 439,849 186,366 141,955 (14,401) (6,945) 2,496 (9,446) 7,030 (10,977) 661,959 554,436 Cash can and ash equivalents (c) Analysis of changes in net debt At start of year Cash 918,547 918,547 2025/24 € 392,46 392,4 2024/23 918,547 918,547 Cash flows Acquisition/ disposal of subsidiaries 475,914 473,914 New finance leases Fair value movements € Foreign exchange movements 0 0 At end of year 1,392,461 1,392,46L 25