Charlty registration number 1067483 {England and Wales) Company registratlon number 03489376 EMMAUS GLOUCESTERSHIRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
EMMAUS GLOUCESTERSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr N. Mantle Mr C. Thomas Mrs A. Halliday Mr M. Watson (Appointed 1 February 20241 (Appointed 1 March 2024) Secretary Ms L. Watson Charity number (England and Wales 1067483 Company number 03489376 Principal address Chequers Road Gloucester GL4 6PN Auditor Pitl Godden & Taylor LLP Unit 3 Ambros8 House Meteor Court Barnelt Way Barnwood Gloucester GL4 3GG Bankers Lloyds TSB Bank plc High Street Chellenham GL50 1EW CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
EMMAUS GLOUCESTERSHIRE CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent auditor's report Statement of financial activities Balance sheet Statement of cash flows 10 Note5 to the financial statements
EMMAUS GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The trustees present their annual report 8nd fin8nc181 st8tements for the year ended 30 June 2024. The Trustees confirm the annual report and financial statements of the charity comply with current ststutory requirements, the requirements of the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Ourvislon and Mission Our Vision is a world in which everyone has a home and a sense of belonglng. Our Mission is to work together to overcome homelessness and social exclusion while using our voice to achleve social change. Objectives and activities In selting objectives and planning for aclivilies, the Trustees have given due consideration to guidance published by the Charily Commission relating to public benefit, and in particular to its supplementary public benefit guidance. The objects of Ihe charity are the alleviation of homelessness and relief of poverty, hardship and Ihe distress they cause to those in need. The objects are specifically restricted to the alleviation and relief of poverty, hardship and distress arisin9 therefrom, in conformance with the principles of the Emmaus Movement as published from time to time by Emmaus UK, to those in need without dislinction by-. The provision of accommodation, or assistance in such provision, for homeless people in the Gloucestershire area and such other places as may seem appropriate from lime to time (the beneficiaries). Th8 rehabilitation of th8 ben8ficiaries as appropriate and the provision of education, training (including, without limitation, employment training) and work opportunities and satisfaction for the beneficiaries with the purpose of developing their skills to enable them to gain employment in the future and thereby develop a sense of Self worth and dignity through having a self-supporting life. The support of the work of other Emmaus Communities and Emmaus Groups or other agencies in the relief ol poverty and homelessness whether in the United Kingdom or elsewhere in the world and in particular (without limitation) by the exchange of resources, information and expertise with other Emmaus Movement projects worldwide. The fulfilling of such other purposes as may from time to time be recognlsed by English Law as being charitable and which the Charity shall from time to time determine. Approach to achieving Charitable objects Emmaus Gloucestershire provides a home, 40 hours of meaningful activity in our social enterprise each week, training and support for previously homeless or socially excluded individuals, known as 'Emmaus companions,. An unemployed, homeless or vulnerably housed person becomes a companion upon joining Emmaus Gloucestershire as a residenl. Companions work together with volunteers and employees collecting, upcycling and Selling donated goods in our five retail outlets. All companions have the opportunity lo gain new ski115 and experiences in a working enterprise and, most importantly, regain self-respect, esteem and purpose whilst working to support others in greater need than themselves. Emmaus Gloucestershire currently offers 26 bed spaces for companions. Companions sign off primary benefits and receive accommodalion, food, clothing, a weekly allowance, resettlement support and access to structured support and personal development. Opportunities are provided to gain new skills, undergo training and work as part of a team to aChve personal goals, contribute to the success of the business activities and provide assistance to others who are in need.
EMMAUS GLOUCESTERSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and performance The 2023-2024 financial year continued its upturn in sales. Charity shops enjoyed the combination of good levels of items being donated and healthy demand and sales. Our strategic aim is to continue to diversify our income slreams over time and increase the range of skills and activities to companions. Operatlonal Performance Emmaus Gloucestershire generated 760/0 of its income through its social enterprise business in 2023-2024. The remainder 16 % came from Housing benefit and 60/0 from general donations, grants and legacies and 20A from investfflents. During the year 6,670 daily bed spaces were provided 1,095 daily bed spaces were set aside on a solidarity basis (for which no housing benefit wa5 granted) Solidarity The Emmaus Movement established by Abbe Pierre was founded on the concept of 'Solidarily' this means helping and working for others who are less fortunate than ourselves. Solidarity works at three levels.. local, national, and inlernalional. Emmaus Glouc8sler8hire contributes at each of these levels with companions, volunteers, staff and trustees all being involved. These contributions are not only financial but also include sharing. expertise, experience, moral support and encouragement Flnanclal revlew The total income for the year ending 30 Jun8 2024 was £1,Q46,848 which was £133,494 more than th8 income for the prevjous year. The lolal expenditure for the year ending 30 June 2024 was £782,132 which was £21,62g more than tF expenditure of the previous year. The net surplus for the year to 30 June 2024 was £264,716 which was £111.865 more than the previous year. The surplus represents 25.20kn of total income. Reserves It is the policy of the charity that unrestricted funds which have not been designated for a specrfic use should be maintained at a minimum of three months expenditure (at current expenditure levels this equates to £180,500). At the renewal of our business conlinuily insurance (which included pandemic insurance up to £250,000) we were advised this was withdrawn. Trustees took a decision to self-insure and set aside £250,000 designated for this purpose. While the level of reserves held currently exceeds this leve5 the purchase of new retail premises at Chellenham and ongoing maintenance on one property will reduce this amount over Ihe next financial year. Risk management Trustees have in place risk management procedures, policies and a risk register which airns to manage and miligale foreseeable risks that the charity might face. The risk register is used as a dynamic tool by the management team. It is reviewed regularly by all Committees and the Board of Trustees. The chief execulive has overall responsibility for monitoring the risks and ensuring appropriate and timely mitigations are put in place. Good risk management is not about paperwork and expansive risk registers it is about a contemporary thorough knowledge of the business and wider environment it operates in. Early identification of the threats and timely responses are crucial to mitigating or avoiding threats.
EMMAUS GLOUCESTERSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Plans for future perlods Emmaus Gloucestershire's ten-year strategy is to diversify sources of income and improve the accommodation offered to companions. The board completed the purchase of a freehold retail premises in Bath Road Cheltenham. The property will be upgraded and adapted to provide a new charity shop in an excellent location in Cheltenham and in the future, office accommodation above. Structurei governance and management The Board is responsible for the strategic direction and policy of the charity. The board meets at least quarterly and is underpinned by a commiltee structure. The Business and Finance Committee, HR Committee, Policy and Practice Committee and External Affairs Committee met at least quarterly to review pèrformance and to agree priorities for the quarter ahead. The Board of Trustees has adopled the NCVO Code of Good Governance. and reviews the structures and workings accordingly. The HR Committee meets annually to agree the remuneralion of the Chief Executive and all employees, so as to reward and motivate employees to an affordable extent. A delegation framework is in place, with the day to day responsibility for the operations of the tharity resting with the Chief Executive. The Chief Executive is responsible for ensuring that Ihe charity delivers the activities specified in an annual operational plan and hat key performance indicators are met. The trustees. who are also the directors for Ihe purpose of company law, and who $8lV8d during the year and up to the date of signature of the financial statements were= Mr M. Heap {Resigned 1 August 2023) Mr M. Hudson (Resigned 7 March 2024) Ms A. Beddoes (Resigned 1 August 2023) Mr N. Mantle Mr C. Thomas Mrs M. Cheeseman MrsA. Halliday Mr M. Walson (Resigned 11 April 2024) (Appointed 1 February 2024) (Appointed 1 March 2024) None of the trustees has any beneficial inleresl in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. An annual skills audit of the Board of Trustees identifies gaps, and an open recruitment prOsS for new Trustees tskes place. This involves advertisement on Emmaus websites, and through specialist volunteering websltes such as V un ering Glos, Trustees Unlimited and REACH. An application and interview process takes place. Proposed app Iments of new trustees musl be approved by the Board of Trustee5-, following a successful applicali ref ces and a DBS check are taken up. re The trust es'r was approved by the Board ofTrustee5 and signed on their behalf by.. Mr C. Thoma Trustee Dated.. 28 Janua.ry 2025
EMMAUS GLOUCESTERSHIRE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2024 The trustees, who are also the directors of Emmaus Gloucestershire for the purpose 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 which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charilable company for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them con51Stently; observe the methods and principles in Ihe Charities SORP, make judgement5 and estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Iwstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any time the financial position of Ihe charily and enable them to ensure that the financial stat&m8n Is comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
EMMAUS GLOUCESTERSHIRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS GLOUCESTERSHIRE Oplnlon We have audited the financial statements of Emmaus Gloucestershire (the 'charity') for the year ended 30 June 2024 which comprise the statement of financial adivities. the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements- give a true and fair view of the state of the Gharitable company's affairs as at 30 June 2024 and of ils incoming resources and application of resources, for the year then ended, have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practic8', and have been prepared in accordance with the requiremenls of the CompaniesAct 2006. Basis for opinion We conducted cur audit in accordance wilh International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those slandards are further described in the Aiiditoffs rasponsibilities for the audit of the financial stalgm9nls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We b81ieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In audiling the financial statements, we have concluded that the trustees. use of the going concem basis ol accounting in the preparation of the financial statements is appropriate. Base(J on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a p8riod of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with r&spect to going conrn are described in the relevant sections of this report. Other information The olher information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover Ihe other information and we do nol expres5 any form of assurance conclusion thereon. Our responsibility is lo 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 course of the audit, or olhetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatetnent in the financial statements themselves. If, based on the work we have performed, we conclude Ihat there is material misslatemenl of Ihis other information, we are required to report that fact. We have nothing tD report in this regard. Matters on which we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulalions 2008 requires us to report to you if, in our opinion. the information given in the financial statemenls is inconsistenl in any material respect wilh the trustees. report., or sufficient accounling records have not been kept,, or the financial statements are not in agreement with the accounting records; or we have not received all the information and explanations we require for our audit.
EMMAUS GLOUCESTERSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EMMAUS GLOUCESTERSHIRE Responslbllitles of trustees As explained more fully in the statement of trustees, responsibilities. the Iruslees, who are also the directors of the charity for the purpose of company law, are responsible for the preparalion of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the 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 charity's ability to continue as a going concern, disclosing, as applicable, matters relaled to going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responslbilities for the audit of the financial statements We have been appointed as audiloi under section 144 of the Charilies Act 2011 and report in accordance with the Act and relevanl regulalions made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mlsstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when 11 exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could r8asonably be expected to influence the economic decisions of users taken on the basis of these financia5 statements. The 8xtenl to which our procedures are capable of detecling irregularities, including fraud, is detailed below, Our approach to identifying and assessing the risks of material misstatement in r8spect of irregularities including fraud and non-compliance wilh18ws and regulations was as follows.. The engagement partner ensured that the engagement team Collectively has the appropriate competence, skills and ability to identify any non-compliance with laws and regulations. We identified the laws and regulations applicable lo the academy via discussions with the management and from our own knowledge of the sector in which the client operates. We focused on the laws which we considered were of particular significance to the charity operations, which included the Companies Act 2006, the Charities Act 2011, health & safety regulations. safeguarding, employment law and data protection. We assessed the extent of the compliance with the laws and regulalions identified through enquiries with management and also detailed testing of the systems and conlrols. We assess the susceplibility of the charity financial statements to material misstatement, including obtaining an understanding of how fraud mighl occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud and whether they has any knowledge of any actual, suspected or alleged fraud; and we documented, assessed anci tested the internal controls in place to reduce the likelihood of any incidences of fraud or non-compliance. To a3se65 the risk of fraud through management bias and override of controls, we.. performed analytical review procedures., • reviewed and sample tested journal entries to confirm that they were genuine transaclions-, assessed whether judgemenls and assumptions made in determining the accounting estimates were indicative of potenlial bias., and reviewed a sample of expenditure transactions from the charily records for appropriate aulhorisation. In response la the risk of irregularilies and non-complian with laws and regulations, we designed procedures which included, but were not limited to.. agreeing the disclosures in the financial statements to underlying documentation, reviewing the minutes of those charged with governance., enquiring of management as to actual potential claims and liabilities., and reviewing legal and professional cosls incurred in the period.
EMMAUS GLOUCESTERSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EMMAUS GLOUCESTERSHIRE There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial Iransaclions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations lo enquiry of the directors and other management and the inspection of any relevant regulatory correspondence. Material misstatements that arise due lo fraud can be harder to delect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report Use of our report This report is made solely to the Charity's trustees, as a body, in accordance with section 144. of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so Ihal we might stale to the Charity's Iruslees those matters we are required to stale lo them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the Charity's trustees as body. for our audit work, for this report, or for the opinions we have formed. Ni Nlcholas Bls FCCA ACA (Se lor Statutory Auditor) For and on behalf of Pitt Godden & Taylor LLP, Statutory Auditor Chartered Accountants Unil 3 Ambrose House Meteor Court Barnell Way Barnwood Gloucester GL4 3GG 28 January 2025 Pitt Godden & Taylor LLP is eligible for appointment as auditor of the charity by virtue of ils el igibilily for appointment as auditor of a company under section 1212 of the Companies Act 2006,
EMMAUS GLOUCESTERSHIRE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Current flnancial year Unrestricted funds 2024 Restrlcted Endowment funds funds 2024 2024 Total Total 2024 2023 Notes Income from: Donations and legacies Charitable activities other trading activities Investments 66,968 168,599 79D,534 20,747 66,968 168,599 790.534 20,747 61,324 106,126 731,329 14,575 Total income 1,046,848 1,046,848 913.354 Charitable activities 782,132 782,132 760,503 Net income and movement in funds 264,718 264,716 152,851 Reconclllation of funds: Fund balances 811 July 2D23 2,422,413 40,700 202,500 2,665,613 2,512,762 Fund balances at 30 June 2024 2,687,129 40,700 202,500 2,930,329 2,665,613 The slat@ment of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Prior financial year Unrestricted funds 2023 Restricted Endowment funds funds 2023 2023 Total 2023 Notes Income from: Donations and legacles Charitable activities Other trading adivities Investments 61,324 106,126 731,329 14,575 61,324 106,126 731,329 14,575 Total income 913,354 913,354 Charitable activities 760,503 760,503 Net income and movement in funds 152,851 152,851 Reconciliation of funds: Fund balances at 1 July 2022 2,269,562 40,700 202,500 2,512,762 Fund balances at 30 June 2023 2,422,413 40.700 202,500 2,665,613
EMMAUS GLOUCESTERSHIRE BALANCE SHEET ASAT 30 JUNE 2024 2024 2023 Notes Flxed assets Tangible assets Investment property 12 13 1,968,373 280,000 1,246,079 280,000 2,248,373 1,526,079 Current assets Debtors Cash at bank and in hand 15 90,806 678,785 67,438 1,116,933 769,591 1,184,371 Creditors". amounts falling due within one year 16 (87,635) (44,8371 Net current assets 681,956 1,139,534 Total assets less cu rrent Ilabllltles 2,930,329 2,665,613 The funds of the charity Endowment funds Reslricled income funds Unr8Stricled funds 17 18 19 202,500 40,700 2,687,129 202,500 40,700 2,422,413 2,930,329 2,685,613 The company is entilled to the exemption from the audil requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. Them mbers have not required the company to obtain an audit of ils financial statements under the requirements ofth Co panies Act 2006, for the year in question in accordance with section 478. The tot cial statements have been prepared in accordance with the provisions applicable to companies subject 'Gompanies regime. esm The financial tatements were approved by the trustees on 28 January 2025 Mrc. Trustee om Company registration numbei 03489376 (England and Wales)
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accountlng policles Charlty Infomatlon Emmaus Gloucestershire is a private company limited by guarantee inGorporaled in England and Wales. The registered office is Chequers Warehouse, Chequers Road, GIOu$ter, GL4 6PN. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and 'Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021 leffeclive 1 January 2019) The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charily. Monetary amounts in these financial statements are rounded to thè nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instrumenls at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial Statements. 1.3 Charitable funds Unrestricted fund5 are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subjecl to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in Ihe notes to the financial statements. Endowment funds are subject to specific conditions by donors Ihat the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any perf0rrnan conditions have been mel, Ihe amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of Ihe amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othetwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Resources expended are accounted for on an accruals basis. 11
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Contlnued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequenlly measured at cost or valuation, net of depreciation and any impairment losses. Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the statement of financial activities. Items costing less than £1,000 are written off as an exp8nse as acquired. Tangible fixed assets are included in the Balance Sheet at cost less accumulated depreciation, or at estimated value at Ihe date of donation less the associated accumulated depreciation. Depreciation is calculated to write off the cost or valuation of fixed assts, less their estimated residual values, over their estimated useful economic lives, al the following rates Land and buildings Freehold is depreciated by nil. Leasehold is depreciated over the lerm of the lease. 250/0 Straight line 101200/0 straighl line 250/0 Straight line Plant and machinery Fixtures, fittings & equipment Motor vehicles The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Investment propertles Investment property, which is property held to earn rentals andlor for capital appreciation, is initially recognised at cost, which includes the purchase cost and any direclly attributable expenditure. Subsequently it is measured at fair value al the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 1.8 Impairment of flxed assets At each reporting end date, the chaTily reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assels have suffered an impairment Iosg. If any such indication exists, the recoverable amount of the asset is eslimated in order lo determine the extent of Ihe impairment Ios5 (if any). 1.9 Stocks Shop stock comprises of donated items, some of which have been refurbished for sale by companions. As these items are donated, they are not held at any value on the financial statements, 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, depo8115 held at call with banks. other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 12
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Continued) 1.11 Financial instruments The charity has elected to apply the provisiDns of Section 11 'Basic Financial Instrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabililies are offset, with the net amounts presented in the financial slatemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction PT1 including transaction costs and are subsequently carried at amortised cost using the effective interest method unless Ihe arrangement constitutes a financing Iransaclion, where the transaction is measured at the present value of the future receipt5 discounted at a market rale of interest. Financial a58ets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank108ns are Initially recognlsed at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the fulure payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course ol operations from suppliers Amounts payable are classified as current liabilities if payment is due within one year or lèss. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financlal liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which the employee's ServIS are received. Termination benefits are recognised immediately as an expense when the charily is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 crftlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual result5 may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and fulure periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 68.968 61,324 Income from charitable activltles U nrestrlcted Unrestrlcted funds fund8 2024 2023 Sale of goods 168,599 106,126 Other trading activities 2024 2023 Shop income 790.534 731,329 Investment income 2024 2023 Rental income Interest receivable 10.180 10,567 9,525 5,050 20,747 14,575 14-
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expenditu re on charitable actlvltles Headlng
ac982
2024 Heading
ac982
2023 DireGt costs Staff costs Depreciation and impairment Other costs Audit and bookkeeping fees 387,050 17,389 372,539 5,154 364,449 22,893 366,862 6,299 782,132 760.503 Analysis by fund Unrestricted funds 782,132 780,503 Net movement in funds 2024 2023 The net mov8menl in funds is stated after chargingl(crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 5,000 17,389 4,000 22,893 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. Trustees travel expenses of £645 {2023- £661 have been met by the charity. 15
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 10 Employees Number of employees The average monthly number of employees during the year was= 2024 Number 2023 Number Shoplwarehouse Officeladmin Companion support 13 Employment costs 2024 2023 Wages and salaries 387,050 364,449 There were no employees whose annual remuneration was £60,000 or more. 11 Taxation The charity 18 8X8mpt from laxation on its activities because all its income is applied for charitable purposes. 12 Tanglble flxed assets Land and buildings Planl and machinery Fixtures, fltlings & equipment Motor vehicl•$ Total Cost At 1 July 2023 Additions Disposals 1,241,628 733,127 7,081 86,795 7,509 93,367 1,428,871 740,636 (2,177) 12,177) At 30 June 2024 1.974.755 7,081 94,304 91,190 2,167,330 Depreciation and impairment At 1 July 2023 Depreciation charged in the year Eliminated in respecl of disposals 29,493 1,804 7,081 59,590 11,155 86,628 4.430 (1,2241 182,792 17,389 (1,224> AI 30 June 2024 31,297 7,081 70,745 89,834 198.957 Carrying amount At 30 June 2024 1,943,458 23,559 1,356 1,968,373 At 30 June 2023 1,212,135 27,205 6,739 1,246,079 16-
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 12 Tangible fixed assets Icontlnued) The Nailsworth leasehold included in land and buildings is deprecialed over its lease term which expires in 2115. 13 Investment property 2024 Fair value At 1 July 2023 and 30 June 2024 280,000 The fair value of the investment property has been arrived at on the basis of a valuation carried out in June 24 by the trustees. The valuation was made on an open market value basis by reference to markel eviden of transaction prices for similar properties in the area. 2024 2023 Freehold 280,000 280,000 17-
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 14 Financial instruments 2024 2023 Carrying amount of financial assets Debt instruments measured at amortised cost 2CI,595 27,667 Carrying amount of financial Ilabllltles Measured at amortised cost 80,589 37,870 15 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Olher debtors Prepayments and accrued income 20,595 13,364 56,847 27,342 9,849 30.247 90,80e 67,438 16 Credltors: amounts falling due wlthln one year 2024 2023 Other taxation and social security Trade creditors Accruals and deferred income 7,066 65,366 15,203 6,967 18,007 19,863 87.635 44,837 17 Endowment funds Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At 1 July 2023 At30June 2024 Permanent endowments 48 Lower Street, Stroud 202,500 202,500 Previous year: At 1 July 2022 At 30 June 2023 Permanent endowments 48 Lower Street, stroud 202,500 202,500
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 18 Restricted fu nds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. Movement In funds Incoming Resources Balance at 30 resources expended June 2024 Balance at 1 July 2023 The Peoples Shed 40,700 40,700 40.700 40,700 19 Unrestricted funds The unrestricted funds of Ihe charity comprise the unexpended balances of donations 8nd grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 July 2023 Incoming resources Resou rces expended Transfers At 30 Jun8 2024 Continuity Fund Hucclecote Renovation Fund General funds 250,000 120 2,172,293 250,000 600 2,436,529 480 (480) 1,046,848 {782,1321 2,422,413 1,046,848 1782.132} 2,687,129 Previous year: At 1 July 2022 Incoming resources Resources expended Transfers At 30 June 2023 Continuity Fund Hucclecote Renovation Fund General funds 250,DOO 250,000 120 2,172,293 12Q (120} 2,019,562 913,354 (760,5031 2,269,562 913.354 {760,5031 2,422,413 During the previou5 year the board decided the the Property and Development Fund was no longer required. Instead, in light of the pandemic, a Continuity Fund was been deemed more appropriate. 19-
EMMAUS GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 20 Analysls of net assets between funds Unrestrlcted funds 2024 Restrlcted Endowment funds funds 2024 2024 Total 2024 At 30 June 2024: Tangible assets Investment properties Current assetsl(liabilities} 1,725,173 280,000 681,956 40,700 202,500 1,968.373 280,000 681,956 2,687,129 40,700 202,500 2,930,329 Unrestricted funds 2023 Restrlcted Endowment funds funds 2023 2023 Total 2023 At 30 June 2023: Tangible assets Investment properties Current assetsllliabilities) 1,002,879 280,000 1,139,534 40,700 202,500 1,246,079 280,000 1,139,534 2,422,413 40,700 202,500 2,685,813 21 Related party transactions There were no disclosable related party transactions during the year (2023 - none). 22 Cash generatod from operations 2024 2023 Surplus for the year 264,716 152,851 Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets 120,7471 17,389 {14,575) 22,893 Movements in working capital,. Ilncreasel in debtors Increase in creditors (23,3681 42,798 (3,251) 12,578 Cash generated from operations 280,788 170,496 -20-
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