EMMAUS SOUTH LAMBETH COMMUNITY (A company limited by guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Company Number: 03458828 Charity Number: 1069610
EMMAUS SOUTH LAMBETH COMMUNITY (A company limited by guarantee) FINANCIAL STATEMENTS FOR THE TH YEAR ENDED 30 JUNE 2024 Contents Pages Legal and administrative information Report of the Trustees 3-13 Independent Auditor's Report 14-19 Statement of Financial Activities 20-21 Balan Sheet 22 Statement of Cashflows 23 Notes to the Financial Statements 24-35
EMMAUS SOUTH LAMBETH COMMUNITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees and directors Jonathan Pallas - Chair Resigned 31 Defflber 23 Rob8rt Lee- Resigned 16th May 24 Steven Harmer- Resigned 16th May 24 Tess Le- Resigned 21 st September 23 Jessica Worner Ravi Rai - Resigned 21 st November 24 Simon Grainge- Resigned 19th Sep 24 Zoe Alexander Amy Boland - Appointed 16th November 23 John Bozza - Chair from 1 st January 24 Alvin Jackson - Vice Chair from 1 Jan 24 Michael Hofman - Appointed 21st March 24 Paul Newman - Appointed 21 st March 24 Emily Pallas- Appointed 18th July 24 Chlef Executlve Officerl Company Secretary Jam8s Hayes Reglstered Office Bobby Vincent House 9 Knight's Hill West Norwood London SE27 OHY Charity reglstratlon number 1069610 Company registration number 03458828 Audltor Baxter & Co. Lynwood House Crofton Road Orpington Kent BR6 8QE Bankers Barclays Bank UK PLC 1 Churchill Place London E14 5HP CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ The Charity Bank Limited Fosse House 82 High Street Tonbridge TN91BE
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DifiECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024 The Trustees, who also act as Non-Executive diredors of Emmaus South Lambelh Community (Ihe Charity") for the purposes of company law, present their annual report for the year ended 30 June 2024 together with the financial statements for that year. The Trustees confirm that the annual report and financial statemenls of the Charity comply with the current statutory requirements, the requirements of the Charity's goveming document and the provisions of the Slatemenl of Recommended Practice (SORP) "Accounting and Reporting by Charities. (FRS 102). The Charity was incorporated as a company limited by guarantee (number 03458828) and not having a share capital on 31 October 1997 and registered a8 a charity (number 1069610) on 19 May 1998. STRUCTURE, GOVERNANCE AND MANAGEMENT Govarnlng document The Company was constituted under a Memorandum, which eslablished the objects and powers of the charitable company and is govemed by its Articles of Association. Inductlon and trainlng of new Trustees The Trustees are selected for their experience and ski118 relevant to the tasks required of the Board at each stage. Each new Trustee is interviewed and inducted into the Charity and its objectives and mission. From time to time, appraisals are undertaken of Trustees, skills and experience. The training facilities for Trustees offered by Emmaus UK are available to our Trustees. Oryanlsational structure Board of Dlrectors The Board of Directors is responsible for the overall governance of the company and charty. The management of the Charily is the responsibility of the Non-Executive Directors who act as Trustees for purposes of Charity Law and are elected and co-opted under the terms of the Articles of Association. The Board of Trustees ('Ihe Board") meets every months to effect the strategic management of the Charity's affairs with reports from the Board Committees ("Subcommittees°). The Subcommittees are composed of Trustees appointed by the Board, staff of Emmaus South Lambeth Community and volunteers approved by the respective Subcommittee. They normally meet prior to each Board meeting, taking an active role in their respective areas of competence and report back to the Board on matters within their remit.
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT INCLUDING DIRECTORS REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 30 JUNE 2024- continued Finance & Audit Committee This Subcommittee is tasked with the following responsibilities.. Reviewing the monthly Management Accounts; Reviewing the Annual Report and Financial Statements prior to approval by the Board; Assisting in the preparation of the Annual Budget and presenting it lo the Board for approval; Reviewing internal financial controls and procedures" Ensuring compliance in legal and ststutory matters in relation to Emmaus South Lambeth Community,. and Providing 8d-hoc financial reports as requested by the Board. Business Development and Communicatlons Committ88 This Subcommittee is tasked with the following responsibilitie8.' Ensuring and overseeing the development and implementation of policies and activities affecting the businesslcommercial development and all communications concerning Emmaus South Lambelh Community,. Ensuring the development and implementats'on of sound business development strategies that will ensure Emmaus South Lambeth Community has a sound financial basis on which to further develop its work; and Acting as a forum for Trustees, Emmaus South Lambeth Community's staff, volunteers and Companions, empowering Companions to develop elements of ownership and a stake in the future of the Emmaus South Lambeth Communty, Human Resources and Companion Welfare Committee This Subcommittee is tasked with the following responsibilities: Staffing and welfare guidance to the Charity with regard to staff, volunteers and Companions; Oversee and monitor safeguarding policies and produreS HR policies and processes, appraisals and training; and Health and Safety matters.
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued Senior Leadershlp Taam The Senior Leadership Team consists of a Chief Executive, Head of Finance and Communities. Head of Business and Partnership Manager. Related Partles Emmaus South Lambeth Community is an independent charity, which belongs to the international Emmaus movement, and is a member of the Emmaus Federation in the UK. Emmaus South Lambeth Community is known locally as Emmaus SLC. Risk Management The Trustees have carried out an assessment of the risks facing the Charity and have a Risk Register which is reviewed annually. They have established procedures for minimising the risks associated with running the Community and risks associated with the business side of the Community's activities to reflect the development of Ihe Charity business and activities, and also to reflect the changing nature of the economic climate. OBJECTS AND ACTIVITIES Objects and Aims According to the Memorandum of Association, the Objects of the Charity are: 1. the alleviation and relief of poverty, hardship and distress arising therefrom to those in n*d without distinction and in furtherance of those objects but not otheNise; 2. the provision of accommodation, or assistance in such provision, for the poor and homeless in the Southbank area of London and such other places as may seem appropriate from time to time", 3. the provision of education, training and employment training for such persons with the purpose of developing skills to enable them to gain employment. 4. the support ofthe work of other Emmaus Communities or other agencies in the relief of povety 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 Communities worldwide; 5. to educatethe public in the needs of poor and marginalised people through whatever means of publicity or education the Charity deems fit, including electronically through our media channels", and 6. to recruit and train workers to support the furtherance of the Objects.
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- Gontinued Significant Activities Emmaus South Lambeth Communty aims to alleviate the distress and hardship of those who have experienced the ravages and trauma of homelessness and other forms of social exclusion in South London. The Charity strives to achieve this through operating a successful Emmaus Community, which provides not only a warm welcome and a safe home to those in need, but also work, and through work, the chance to regain self-respect and hope. Emmaus South Lambeth Community enjoys long-standing links with many organisations in London and the surrounding areas through whom our offer of welcome, help and opportunity can be extended to all who need it and are willing to subscribe to the Emmaus Principles. All Emmaus communities are non-religious and open to all who can acP1 the simple practical conditions of membership without regard to gender, race, creed, or sexual orientation. The main business for this, and indeed all Emmaus UK Communrties, is collecting, recycling and then selling donated goods including furniture, bric-a-brac and some white goods. From spring 2013 to December 2023 the supply of furniture and electrical goods to the London Borough of Lambeth for residents who would previously have been eligible for Crisis Loans and Community Care Grants was a signrficant part of the business. This 'Emergency Support Scheme, work was mainly carried out by the beneficiaries of the Charrty and fits with the core aim of the alleviation and relief of poverty and hardship and distress. Every Emmaus Communty operates a social enterprise in which all members of the Comrnunity contribute to their mutual well-being and support, striving to generate surpluses to benefit others. The Charity's strategies for achieving these Objects are: To provide a twenty-seven bed Community house in Lambeth that is welcoming, friendly and secure. To provide a ten bed Community in Croydon, SE25, for Companions to live safely and securely, and an additional eight bed Communty in Croydon, SE19 for Companions wishing to move towards a semi-independent lrfestyle. To provide a three bed 'move on, flat for companions who enter the world of external work. To provide training and operate sales outlets to carry on a successful soaal enterprise;
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued To provide support, hope and encouragement to Companions, as those who live in an Emmaus Community are known to address past and present problems and, if they wish. to equip them for independent living within a timescale determined by the needs and wishes of each individual. and - To create and maintain appropriate management. The following factors are relevant to the achiavement of the Charity's objectives: Adherence to the 5 Year strategic plan which was updated in 2022 with a focus on sustainability, growth, and awareness. This is reviewed periodically. Development of the Charity's business activity so that trading becomes the major source of income of the Charity. Grant-making and Solidarity In 2014 members of the Community organised a Solidarity Committee and have since undertaken a number of fundraising events for other charities. All staff and companions are granted two days off work each year to volunteer with other charities. Staff, companions and friends of Emmaus South Lambeth Community volunteered their time to support Crisis at Christmas in a hotel in Westminster. When the hotel closed on 5th January 2024, three Crisis at Christmas guests were accommodated in our Community buildings and supported with their move on plans. In September 2023 companions, staff and trustees of Emmaus South Lamb8th Communily participated in a Solidarity 24-hour Spin-a-thon, and a coffee and cake sale. Over £3,000 was raised and split betN4een UK charity Street Storage and Emmaus Ukraine. In addition, Emmaus SLC has supported several ad-hoc requests for furniture and goods in kind with an approximate value of £1,500 for local people in need. Voluntsers The Charity has over the year had the help of about forty part-time volunteers, some of whom are former companions. Our volunteers assist in the shops, kitchen, warehouse, and vans, working alongside our companions. Charitsble Activity Beginnings A site suitable for an Emmaus Community was identified and purchased by the Charily in 2001. This included space for accommodation, a warehouse and two shops and a major fundraising effort was undertaken to cover the cost of the accommodation block and warehouse.
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued Shops and Warehouse The Chaiity opened its first shop selling donated goods in November 2004. In April 2006 a second shop, adjant to the first one, was opened to allow the Charity to expand the range of goods offered. In November 2009 the Charity moved its furniture sales and workshop into ils own building in Beadman Street, after a sucSsful short lease in a local warehouse. In April 2012 Ihe Charity leased another shop at 88 Knights Hill for selling furniture and other household items. In spring 2013 the Charity agreed a lease with the London Borough of Lambeth on a unit in Brixton which would be used lo supply furniture and electrical goods to the local authority for residents who would previously have been eligible for Crisis Loans and Community Care Grants. This 'Emergency Support Scheme, cornmenced in April 2013 and fits with the core aim of Ihe alleviation and relief of poverty and hardship and distress. The work involved in the Emergency Support Scheme is mainly carried out by the beneficiaries of the Charity. This agreement with LB Lambeth ended on 31. Dember 2023 and our unit in Brixton was vacated in spring 2024. In October 2016 the Charity took on a 66-year lease on a large retail property in Stafford Road, Wallington. This unil had previously been trading as Wallington Missionary Mart & Auctions before being transferred to Emmaus UK in 2014. In November 2017, the freehold was purchased from London Borough of Sutton for £25,000. As the buildings on thi8 Sfte are in a poor state of repair and not economically viable to bring up to standard, we are considering the long-term future of the property and potential sale of the freehold. 11 is expected that this property will be sold at some point within Ihe next five years however there are legal issues around right of access and easement over the driveway which we are aiming to resolve before we sell. In March 2017, the Charity took on a lease for an antique shop in High Street, Carshalton and then in July 2017, a 5-year lease on a furniture shop in Caterham. This lease was extended for a further 10 years. In October 2018 a 10-year lease was taken on a high street shop on Brighton Road, Purley. In March 2023 the lease expired on the Carshalton shop and was not renewed due to a proposed increase in rent which made the shop unviable financially. In February 2024 an 8 year lease on a shop at 275 Lower Addiscombe Road, Croydon was taken. We have also seen considerable growth in our online sales and will look to invest and focus on this part of our business in the future. Accommodatlon In 2006 agreement was reached with Ujima Housing Association (Ujima) whereby Emmaus South Lambeth Community granted Ujima a 999-year lease over part of its site in West NoThvood, enabling Ujima to access £1.67 million of funding from the Housing Corporation to fund the construction of the accornmodation block. Construction work was completed in early October 2007 and the first Companion moved into the Community laterthat month. In January 2008 Ujima was taken over by London and Quadrant Housing Association.
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES. REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued The West NoDNood Community consistently operates at tts capactty of twenty-seven Companions. In May 2014 the Charity entered into a three-year agreement with West London Mission IWLM) to develop and manage a satellite residential Community in WLM premises in Kennington. The project ran, as planned, until May 2017 and was considered a success. In January 2018 a bid was accepted for the freehold purchase of a 7-bed House of Multiple Occupancy (HMO) in the London Borough of Croydon, owned by Croydon Churches Housing Association, who have supported our Companions throughout the year in accessing independent accommodation. This has since been reconfigured to be an 8-bed home. This purchase was completed in August 2018 and the capital cost of £700,000 was very generously funded by The Leslie Aldridge Trust, to whom we are extremely grateful. In Oclober 2019 a freehold purchase was completed for another 7 bed HMO in Croydon. from Croydon Churches Housing Association. This has since been re- configured to be a 10-bed home. We are very grateful to The Leslie Aldridge Trust and Emmaus UK for funding the capital cost of £693,000. Through 2022 work took place to redevelop the Beadman Street site to include an office complex on a mezzanine floor, and moving of the existing offices in Bobby Vincent House to create a three bedroom 'move on flat, for companions entering paid, external work. The offices in Bobby Vincent House were in an existing two bed flat, so needed minimal reconfiguring in Bobby Vincent House. We are grateful to both Emmaus UK and the Leslie Aldridge Trust for helping to fund this work. Workshoplwarehouse In March 2007 the Charily was successful in being awarded £250,000 from the Department of Communities and Local Govemment, which, together with other pledged funds and donations already received enabled the Charity to commence construction of a workshoplwarehouse on a site purchased by the Charity at the rear of the Accommodation Block in West Norwood. The Charity modified its original plans forthe warehouse forwhich planning permission had been granted as the cost of that warehouse design proved to be prohibitive and the Charity obtained revised planning permission for a smaller warehouse. The construction commenced in spring 2009 and was completed in November 2009.
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued Social Impact The year 2023-24 saw a total of 18 new Companions join and we received 133 enquires and referrals for accommodation in the year. This reflects on the increase in homelessness and cost of living more widely in society. These enquiries and referrals come from a wide range of sources, induding homeless hostels and day centres, rough sleeper outreach teams, the prison seniice, and self- referrals. Of the 15 Companions moving on from the Community 12 of Ihese were planned, positive 'move ons,, moving into a cornbination of independenl accommodation in the private rented sector. social housing, age-appropriate accommodation, and other Emmaus Communities. We assisted companions in reconnecting to Poland, Romania, and Portugal as well as helping facilitate moves to Norfolk, Cambridge. and Bournemouth. One companion departed as they required 24 hour a day support following a stroke, and another moved into specialist alcohol detox and rehabilitation seroices. All Companions were given monthly support plan meetings and Personal Development Plans to assist them in achieving their aims and aspirations. Companions were supported with their physical and mental health by way of therapeutic counselling, dental and medical appointments. We have seen an increase in companions require assistance with their physical and mental heatth. Companions were also offered, and engaged with, a range of external services, including work experience placements, and courses including food hygiene, PAT testing, art, literacy, numeracy, ESOL, SIA, CSCS, and computer training. Companions found external employment in hospitality, outreachlhomeless services, and warehousing. We have successfully assisled all our Companions to have bank accounts and make the transition to receiving their allowance monthly into the bank, rather than weekly in cash. This enables them to prepare for life outside of the Emmaus Community, whether Ihat be in paid employment or in receipt of Universal Credit. Companions have also been supported to get identification such as Passports and Driving Licences. Companions, staff and Trustees have bn supporting local rough sleepers through volunteering activities with food distribution organisations and Crisis at Christmas. We have been pleased to employ the services of a Move-on Support Worker and a Progression Coach. The Move-on Support Worker assists Companions in their goal towards independent living and employment, including support with extemal training. We have also been fortunate to employ an externally funded Support Worker to deliver a 'Cooking with Confidence, course lo assist companions to not only cook, but to budget and plan around kilchen and food activities. The focus to engage Companions in social events remains high. however, with trips to the Iheatre, cinema, various football and rugby matches, and group events such as 10 pin bowling, barbeques and our annual summer Bank Holiday trip to Brighton taking place throughout the year, wherever possible. 10
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued We have had several companions join us who are looking to regularise their immigration status and they do not have recourse to public funds, e.g. Universal Credit and Housing Benefit. There has been lots of activity from our Community Managers working with various law centres and specialists in immigration advice to assist individuals in the lengthy and often complicated issues surrounding immigration and welfare benefits, FINANCIAL REVIEW There was a deficit in the year of £151,064 (2023.. £127,976) The balance sheet shows that the charity had net funds of £3,258,460 (2023 £3,409,524) at the year end. Reserves Policy The Trustees maintain a conservative Reserrfes Policy to ensure that all short term and long tenn commitments can be met in the current economic environment. Reserves constitute funds arising from income which becomes available to the charity and 18 to be spent at the discrelion of the Trustees in furtherance of the objects of the Charity and which is not yet spent, committed, restricted or designated. ReseNes are held to finance all liabilities and future development of the charity. The Trustees wish to maintain a sufficient level of liquid unrestricted reserves so that there are adequate funds to meet all current and known liabilities ideally for a range of between three and five months, revenue expenditures. Emmaus South Lambeth Community is extremely grateful for all the generous donations given throughout the year. Investment Policy and Objectlves The Charity's principal investment is in land and buildings in West Norwood, Croydon and Surrey. The Trustees, having regards to the liquidity of the Charity keep its funds on deposft so that the funds are available when required and are satisfied with the return achieved on cash deposits. FUTURE DEVELOPMENTS Both business and residential opportunities will continue to be explored and developed with further new retail outlets being considered for the coming year. Retail Support Workers will be employed for all new retail outlets to provide Companions with additional support in the workplace as well as continuing support from staff by way of monthly support plans and Personal Development Plans. 11
EMMAUS SOUTH LAMBETH COMMUNITY TRUSTEES, REPORT STRATEGIC REPORT INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued As financial self-sufficiency is maintained, the Trustees plan to use any surplus generated in future years in line with the charity's 5 year strategic plan which includes the development of new Emrnaus Communities and for charitable purposes consistent with the aims and objectives of Emmaus South Lambeth Community. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directors of Emmaus South Lambeth Community for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charitable company and the incoming resources and application of the resources, including the net income or expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to: a) select suitable accounting policies and apply them consistently., b) observe the methods and principles in the Charities SORP; c) make judgements and estimates Ihat are reasonable and prudent,. d) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements., e) prepare the financial Statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of Informatlon to audltor So far as the trustees are aware, there is no relevant audit inforrnation which has not been disclosed to the charity's auditors. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any matters which would be relevant for audit purposes, and to ensure that such information has been communicated to the charity's auditors. Risk Management The major risks to which the chaiity is exposed, as identified by the Trustees, have been reviewed and systems and procedures have been established to manage those risks. 12
EMMAUS SOUTH LAMBETH COMMUNITY INCLUDING DIRECTORS REPORT AND FOR THE YEAR ENDED 30 JUNE 2024- continued TRUSTEES, REPORT STRATEGIC REPORT Going Concern As described in the accounting policies on page 24, the accounts have been prepared on a going conrn basis which assumes that the charitable company can continue to operate. Auditors A resolution will be proposed at the next Annual General Meeting to re-appoint Baxter & Co as the company's auditors. Small Companies, Exemptions This report has been prepared in accordance wlth the provisions applicable to companies entitled to the small Gompanies, exemption. Approved by the board on aoJonufL 02g and signed on its behalf by.. Michael Hofman - Trustee 13
EMMAUS SOUTH LAMBETH COMMUNITY INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF EMMAUS SOUTH LAMBETH COMMUNITY Opinion We have audited the financial statements of Emmaus South Lambeth Community (The 'Charitable Company,) for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the accounts, including a summary of signrficant accounting policies. 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the accounts: give a true and fair view of the stale of the charity's affairs as at 30 June 2024 and of its incoming resources and application of resources, 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 Companies Act 2006. Basis for oplnion 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 Auditorfs responsibilities for the audit of the accounts section of our report. We are independent of the in accordance with Ihe ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical 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 sppropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditin9 the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material UnrtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. 14
EMMAUS SOUTH LAMBETH COMMUNITY INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF EMMAUS SOUTH LAMBETH COMMUNITY- Continued Other information The other information comprises Ihe information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, expt to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit or OtheIse 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 misstatement in the financial statements themselves. If, based on the work we have perfonTJed, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of the audit: the information given in the trustees, report, which includes the strategic report and the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements., and The strategic report and the directors, report included within the trustees, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors, report included within the trustees, report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion: the charitable company has not kept adequate and sufficient accounting records, or retums adequate for our audit have not been received from branches not visited by us. or the charitable company's financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit 15
EMMAUS SOUTH LAMBETH COMMUNITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS SOUTH LAMBETH COMMUNITY- Continued Responsibilities of Trustses As explained more fully in the Statement of Trustees Responsibilities as set out on page 12, 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 satisfied that they give a true and fair view, and for such internal control as the trustees detemiine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. In preparing the accounts, the trustees are responsible for assessing the charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the either intend to cease operations, or have no realistic altemative but to do so. Auditor's responslblllties for the audft of the flnanclal ststements Our objectives are to obtain reasonable assuran about whether the financial ststements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditovs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detect a material misstatement when it exisls. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, Ihey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Capabllity of the audlt In detectlng irregularfties, includlng fraud 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 detsiled below., Based on our understanding of the charity and the sector as a whole, and through discussions with the trustees and other management (as required by audrting standards), we identified that the principal risks of non compliance with laws and regulations, related to the Companies Act, the Charities Act, and safeguarding. 16
EMMAUS SOUTH LAMBETH COMMUNITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS SOUTH LAMBETH COMMUNITY- Continued Our approach was as follows: We obtained an understanding of the legal and regulatory requirements applicable to the chaiitable company and considered that the most significant are the Companies Act 2006. the Charities Act 2011. the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charity company complies with these requirements by discu88ions with management and those charged with governan. We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with governance as to any known instan5 of non-compliance or suspected non-compliance with laws and regulations. We evaluated trustees and managements incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of conlrols) and delermined the principal risks related to posting inappropriate journals to manipulate revenue or expenditure. Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquires of management and those charged with govemance and obtaining additional corroborative evidence as required. In addressing the risk of fraud due to management override of internal controls we tested the approprialeness of joumal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias. Due to the inherent limitations of an audrt, there is an unavoidable risk that we may not have detected some material misstatements in the fi'nancial statements, even though we have properly planned and performed our audit in accordan with auditing standards. For example. as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions. misrepresentations, or the override of internal controls. We are no responsible for preventing fraud or non-complian with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. 17
EMMAUS SOUTH LAMBETH COMMUNITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS SOUTH LAMBETH COMMUNITY- Continued As part of an audit in accordan with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit ProdureS responsive to those risks, and obtain audit eviden that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control, Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of eXp$s]ng an opinion on the effectiveness of the group and parent charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company's ability to continue as a going concern. If we condude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disdosures in the financial staterments or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial stalements represent the underlying transactions and events in a manner that achieves fair presentation (i.e. gives a true and fair view). 18
EMMAUS SOUTH LAMBETH COMMUNITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS SOUTH LAMBETH COMMUNITY- Continued We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters which we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report or for the opinions we have formed. L Christopher Jones FCCA, Senior Statutory Auditor For and on behalf of Baxter & Co Chartered Accountants Statutory Auditor Lynwood House Crofton Road Orpington Kent 19
EMMAUS SOUTH LAMBETH COMMUNITY STATEMENT OF FINANCIAL ACTIVITIES includin Income and enditure Account FOR THE YEAR ENDED 30TH JUNE 2024 Notes Unrestricted Restricted 3010612024 3010612023 funds funds Total funds Total funds INCOME FROM: onations and legacies Activities for Generating Funds vestments - Bank Interest overnment Grants 37,426 1,779,669 15,307 39,887 77,313 108,327 1,779,669 1,803,555 15,307 7,311 otal incomlng resources 1,832 402 1,872.289 1919,193 EXPENDITURE ON: haritable activities: Community Developmenuoperations rrading Sovernance costs 369,417 1,567,468 43,731 42,737 412,154 473,045 1,567,468 1 ,523,274 43,731 50,850 otal Resources Expended 1,980,616 42,737 2,023,353 2,047,169 Net Incoming (Outgolng) Resources lefore Transfers (148,214) (2,850) (151,064) (127,976) ransfers between funds VET MOVEMENT IN FUNDS otal funds brought forward 148 214 2,850 151,064 127,976 3,397,974 11,550 3,409,524 3,537,500 -JOTAL FUNDS CARRIED FORWARD 3 249 760 3 258 460 3 409,524 The comparative figures for 2023 are analysed according to fund on the next page of these financial statements. The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 20
EMMAUS SOUTH LAMBETH COMMUNITY STATEMENT OF FINANCIAL ACTIVITIES includin Income and enditure Account FOR THE YEAR ENDED 30TH JUNE 2024 Notes Unrestricted Restricted 3010612023 3010612022 funds funds Total funds Total funds see over - INCOME FROM: onations and legacies Bctivities for Generating Funds investments - Bank Interest Government Grants 55,796 1,803,555 7,311 52,531 108,327 276,417 1,803,555 1,562,998 7,311 1,783 107 otal incoming resources 1,866,662 52,531 1,919,193 1,841.305 XPENDITURE ON: Charitable activities.. ommunity Developmenuoperations rrading Governance costs 425,064 1,523,274 50,850 47,981 473,045 437,889 1,523,274 1,410,067 50,850 35,309 otsl Resources Expended 1,999,188 47,981 2,047,169 1,883,265 et Incoming (Outgoing) Resources efore Transfers (132,526) 4,550 (127,976) (41,960) ransfers between funds ET MOVEMENT IN FUNDS 132,526 4,550 127,976 41,960 Totsl funds brought forward 3,530,500 7,000 3,537,500 3,579,460 -foTAL FUNDS CARRIED FORWARD 3.397.974 11,550 3,409,524 3,537,500 21
EMMAUS SOUTH LAMBETH COMMUNITY BALANCE SHEET AS AT 30TH JUNE 2024 3010612024 3010612023 Notes FIXED ASSETS Tangible assets 11 2,593,596 2,672,099 CURRENT ASSETS Debtors Cash at bank and in hand Stock 12 69,042 698,962 4,547 772,551 96,725 759,640 5,375 861,740 CREDITORS amounts falling due within one year 13 107,687 124,315 NET CURRENT ASSETS 664,864 737,425 TOTAL ASSETS LESS CURRENT LIABILITIES 3,258,460 3 409,524 FUNDS General unrestricted funds Unrestricted funds Restricted funds 3,249,760 8,700 3,397,974 11,550 TOTAL FUNDS 14 3,258,460 3,409,524 The accounts are prepared in accordance with the provisions of part 15 of the Companies Act 2006 relating to small companies. Approved by the Trustees on 20 J lOI% Michael Hofman - Trustee 22
EMMAUS SOUTH LAMBETH COMMUNITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH JUNE 2024 3010612024 3010612023 Notes Cash Flows from operating actlvities Cash generated from operations 17 (34,4261 115,172 Net cash {oufflow)finflow from operatlng actlvitles (34,426) 115,172 Inv88tlng Actlvltl88 Purchase of tangible assets Proceeds from disposal of tangible fixed assets Interest received {54,559) (48,765) 13,000 15,307 9,666 7,311 Net (decrease)lincr8ase in cash and cash equivalents (60,678) 83,384 Cash and cash aquiv81ents at beginning of year 759,640 676,256 Cash and cash equlvalents at end of year 698,962 759,640 23
EMMAUS SOUTH LAMBETH COMMUNITY PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 30TH JUNE 2024 Basis of Preparation Emaus South Lambeth Community is company limtted by guarantee in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of Ihe registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are set out on page 6. The charity constitutes a public benefrt entity as defined by FRS 102. 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 Slandard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Golng Concern The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least 12 months from the date of authorisation of the financial statements and have conclLJded that the charity has adequate resources to continue in operational existence for the foreseeable future, and there a no material uncertainties about the charity's abilrty to continue as a going COnrn, this they continue to adopt the going concern bases of accounting in preparing the financial statements. Fund Accounting General Funds are unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 24
EMMAUS SOUTH LAMBETH COMMUNITY PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 30TH JUNE 2024- Continued Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost 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. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund, Income All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If the are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income 13 deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control overthe item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such faciltties and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the lrfe of the asset. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distribLrted. On these occasions, the legacy is Ireated as contingent asset and disclosed. 25
EMMAUS SOUTH LAMBETH COMMUNITY PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 30THJuNE 2024 - Continued Income from trading activities includes income eamed from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Accommodation receipts are recognised for the period in which they are receivable. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoversble VAT is charged as an expense against the activity for which expenditure arose. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. Governance Costs Governance costs are those associated with compliance with constitutional and statutory requirements and are allocated, along with other support costs, to charilable expenditure. Tangible flxed assats Tangible fixed assels are stated at cost (or deemed cost) or valuation less accumuli depreciation and accumulated impairment losses. Cost includes costs dir( attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off ost, less estimated residual value, of each asset on a systematic basis over its exp useful life as follows: 26
EMMAUS SOUTH LAMBETH COMMUNITY PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 30TH JUNE 2024- Continued Freehold propèrty - 20/0 on cost Long leasehold - 1- 20 % on cost and reducing balan Fixtures and fittings - 20 % and 33 % on cost Motor vehicles _ 25 % on cost Office equipment- 330/0 on cost Investments Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a malurity of less than one year. Stocks Stocks are stated at the lower of cost and estimated selling price less costs lo cornplete and sell. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing stock lo its presenl location and condition. Provision is made for damaged, obsolete and slow-moving slock where appropriate. Stock does not included donated assets for sale as it is impractical to measure reliably the fair value of these donated assets. Debtors Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the lests set out in Paragraph 1 Schedule 6 Finan Act 2010 and therefore it meets the defi'nition of a charitable company for UK corporation tax purposes. Liabilitles and provlsions Liabilities are recognised when there is an obligation al the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be reliability estimaled. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debl or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimated of the amounts required to settle the obligations. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre tax discounl rate that reflect the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 27
EMMAUS SOUTH LAMBETH COMMUNITY PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 30TH JUNE 2024- Continued Financial instruments The charity only has fi'nancial assets liabilities of a kind that qualrfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured out their settlement value with the exception of bank loans which are subsequently measured at arnortised cost using the effective interest method. Operating leases Rentals paid under operating leases or charged to the Statement of financial activities on a straight line basis over the lease term. Pensions Charity operates A defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. critical accountlng 8Stlmates and areas of Judgement Estimates and judgments are Gontinually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: Charity makes estimates and assumptions conceming the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimales and assumptions that have a signrficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Critical areas of Judgement: Charity has recognised tangible fixed assets with the carrying value of £2,593,596 (see note 11 >. These assets are slated at their cost less provision for depreciation and impairment. The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful lives and the residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when neSSary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. 28
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 3010612024 3010612023 VOLUNTARY INCOME Donations and Gift Aid claims 77,313 108,327 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Trading income Accommodation receipts 1,253,735 525,934 1,779,669 1,314,761 488.794 1,803,555 INVESTMENT INCOME Interest receivable 15,307 7,311 GOVERNMENT GRANTS Job Retention Scheme Analysis of resources expended Direct charitable costs Staff costs Premises Gosts Companions costs Depreciation (see note below) Goods purchased for resale Other charitable expenditure including reallocations 1,057,909 1,032,198 314,016 325,529 228,065 196,103 130,564 130,761 98,805 132,858 150,263 178,870 1,979,622 1,996,319 29
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024- continued GOVERNANCE COSTS 3010612024 3010612023 Accountancy fees Professional fees Auditorfs remuneration 9,010 28,221 6,500 43,731 17,139 27,211 6,500 50,850 NET INCOMINGI(OUTGOING) RESOURCES Net resources are stated after chargingl(crediting): Auditors. remuneration Depreciation - owned assets (Gain) Loss on disposal of fixed assets 6,500 130,564 8,500 130,761 8,296 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. Trustees, Expenses There were no expenses reimbursed to the trustees during the year (2023 £nil), 10. STAFF COSTS Wages and salaries Social security costs 982,365 75,544 1,057 909 971,724 60,474 1032 198 The number of employees during the year was as follows: 45 49 No employee received remuneration amounting to more than £60,000 in erther year. 30
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024- continued Fixtures, fittings Freehold Long and office property leasehold equipment Motor vehicles Total 11. TANGIBLE FIXED ASSETS COST At 1 July 2023 Additions Disposals At 30 June 2024 2,919,221 200,000 471,195 21,510 63,383 3,653,799 33,049 54.559 20,745 20,745 75.687 3,687,613 2,919,221 200,000 492 705 DEPRECIATION At 1 July 2023 Charge for year Disposals At 30 June 2024 608,330 55,718 43.688 2,000 286,580 59,283 43,102 981.700 13,563 130,564 18,247 18,247 38,418 1,094,017 664,048 45.688 345.863 NET BOOK VALUE At 30 June 2024 2,255,173 154,312 146,842 37,269 2,593,596 At 30 June 2023 2,310,891 156,312 184,615 20,281 2,672,099 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3010612024 3010612023 Other debtors 69,042 96,725 31
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024- continued 3010612024 3010612023 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 29,131 17.223 61,333 23,919 100,396 107,687 124 315 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted funds Restricted funds Total funds 2024 Total funds 2023 Fixed assets Current assets Current liabilities 2,593,596 763.851 2,593,596 772,551 2,672,099 851,505 8,700 107,687 107,687 114,080 3,249,760 8,700 3,258,460 3,409,524 The designated Fixed Asset Fund represents fixed assets for the continuing use within the Charity. These assets were, in part, purchased using donations restricted for such use. As each restriction is discharged the Trustees have designated them as an unrestricted fixed asset fund to emphasise that they are not funds available for spending. PRIOR YEAR Unrestricted funds Restricted funds Total funds Total funds 2023 2022 Fixed assets Current assets Current liabilities 2.672.099 839,955 114,080 2,672.099 851,505 114,080 2,755.465 851,023 68,988 11,550 3,397,974 11,550 3,409,524 3,537,500 32
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024- continued 15. CAPITAL COMMITMENTS There were no capital commitments contracted prior to 30th June 2024. 16. RELATED PARTIES Emmaus South Lambelh Community is a member of the Emmaus UK Federation, Emmaus Europe and Emmaus International.11 pays an annual subscription to all three of these organisations which is variable according to its turnover. In the year ended 30° June 2024 £23,771 (2023.. £23,737) was paid to the Emmaus UK Federation, Emmaus Europe and Emmaus International. 17. CASH GENERATED FROM OPERATIONS 3010612024 3010612023 SurpluslDeficit for the year Adjustmants for: Depreciation Interest Gain on Disposal (151.064) (127,976) 130,564 (15,307) (10,502) 130,761 (7,311) (8,296) Movement In worklng capltal: lncrease1decase in stock Increaseldecrease in debtors Increaseldecrease in creditors 828 27,683 (16,628) 4,746 82,404 40,844 34,426 115,172 18. ANALYSIS OF CHANGES IN NET FUNDS Balance at 1 July 2023 Cashflows Balance at 30 June 2024 Cash at bank and in hand 759,640 (60,678) 698,962 759,640 60,678 698,962 33
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024- continued 19. ANALYSIS OF FUNDS Balance at 1 July 2023 Net movement in funds Transfer between funds Total funds 30 June 2024 Unrestricted Fund General Fund Designated Fund Restricted Fund Albert Hunt Trust Alan Morton Croydon Relief in Need 725,875 2,672,099 (69,711) (78,503) 656,164 2,593,596 3,500 5,200 (11,550) 3.500 5,200 11,550 3 409 524 151,064 3 258.460 PRIOR YEAR Balance at 1 July 2022 Net movement in funds Transfer between funds Total funds 30 June 2023 Unrestricted Fund General Fund Designated Fund Restricted Fund Croydon Relief in Need Albert Hunt Trust 775,035 2,755,465 (49,160) (83,366) 725,875 2,672,099 11,550 (7,000) 11,550 7,000 3,537,500 127,976 3.409.524 RESTRICTED FUNDS During the year under review the charitable company received a donation of £5.200 from Alan Morton to fund a support worker from June 2024- May 2025 and a donation of £7,000 from Albert Hunt Trust to fund a support worker from December 2023 - November 2024. UNRESTRICTED FUNDS The designated fund represents fixed assets for the continuing use within the Charity. These assets were, in part, purchased using donations restricted for such use. As each restriction is discharged the Trustees have designated them as an unrestricted fixed asset fund to emphasise that they are not funds available for spending. 34
EMMAUS SOUTH LAMBETH COMMUNITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024- continued 20. OPERATING LEASE COMMITMENTS Lessee At the reporting date the company had outstanding commitments forfuture minimum lease payments under non-cancellable operating leases, which fall due as follows: 3010612024 3010612023 Within one year Between two and five years 148,156 245,803 113,252 151,562 393,959 264,814 35