Charlty reglstration number 1073677 Company registration number 03643570 (England and Wales) Emmaus Preston Annual Report and Unaudited Financial Statements For The Year Ended 30 June 2024
EMMAUS PRESTON LEGAL AND ADMINISTRATIVE INFORMATION Truslees John J R Dean Nicholas N J Edwards James J A Caldwell Michael M G Conlon Kathleen K C Derbyshire Philip P R Leeming Dorothy D J Mein Simon S Parker Jeremy J J Rawkins John J Swindells K H Widdick5 S Buchanan S8cretary JRDean N J Edwards Charity number 1073677 Company number 03643570 Reglstered office The Birches 165 Ribbleton Lane Preston Lancashire United Kingdom PR15ST Independent examiner Azets Floor 1, Capital House 8 Pittman Court, Pittman Way Fulwood Preston Lancashire United Kingdom PR2 9ZG
EMMAUS PRESTON CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 10-20
EMMAUS PRESTON TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The trustees present their annual report and financial ststements for the year ended 30 June 2024. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to the financial ststements and comply 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 the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Objectives and activltles Objectives and alms Emm8us Preston provides a home, work training and development for people who have been homeless or socially exduded. People who become homeless do so for a variety of complex reasons. Many of the communty members have slept rough. Emmaus offers stability, companionship, support and security for people to rebuild their lives. Accommodation is available for up to 50 people in the Community Homes in Preston and Bumley. The Community is fully inclusive. Companions are encouraged to play an active role in the day to day running of the Communty. Public benefit Emmaus Preston works for the public benefit through its work delivering a range of education, enablement and support services for people who have been homeless or socially exduded. The Trustees have complied with their duty to note and pay due regard to public benefit guidance published by The Charity Commission. The Trustees are committed to ensuring the Charity remsins responsive to, and respectful of, the diverse needs of those they help and the local community, enabling Companions to pursue ordinary lives and achieve their full potential. Achievements and performance Emmaus In Lan¢4shire No two years in Emmaus are ever the same and this has been a year of highs, lows, change and lots and lots of hard work by the whole Community. This was a year of Companion sUc$S with the most Companions we have moved on positively since we opened but coupled with five months of very high energy costs which we were already aware of in our contract and new shops and changing retail spaces not being able to generate the level of income of the previous shops and spaces, it has been a challenging year financially. Companlons We have up to 50 ensuite rooms, available in our bNo premises in Preston and Bumley for people who were fomietly homeless. Companions sign off work-based benefits and support the community by selling items in our shops, collecting and delivering items on our vans, working within the community to keep the building functioning and answering our phones to customers. The income from the shops supports our communities directly and pays towards their support and training, food. energy bills and more. The roles Companions play give them a sense of belonging, training, work experience and most of all structure and a sense of achievement. This year the Companions and staff have worked harder than ever, not just with the day to day running of their community and shops but moving shops- three times in under a year! Training has continued to be a big part of daily life in our communities with Companions having driving lessons, gaining Cty and Guilds qualifications in house as well as external training and even attending College 8 few days weekly over the year and into the nexi to do an Electricians course. For some these are the first formal qualifications they have ever had and for others this is the pathway into employment and move on.
EMMAUS PRESTON TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 This year we have seen lots of positive Companion move on including people had been with us over two years. Some of these were reunited with family members, or met a new partner, some into their own supported living, some into their own homes and many of those into paid employment. In fact in the twelve months seventeen Companions have moved on into employment and their own home which is fantastic and testament to the work done by the skilled support team in Preston and Burnley headed by Karen Wallis. We had over 200 hours per week of support with five paid stsff which meant we could offer far more to our Companions. One Companion moving on who needed extra daily help was supported, in conjunction with So¢i81 servi$, to get funding and employ personal assistant to help with some daily tasks allowing her to live independently. A big part of our support offer is basing our Companion Development Workers wtthin our stores and seeing the work Companions do on a daily basis. Supporting them on the shop floor breaks down barriers and increases trust which can never be gained sat across a desk in an office typing at a computer. The downside, as we have mentioned previously, of moving so many people on is low Companion numbers within the two buildings. This impacts on running stores, income from housing benefit and indeed moral at times when people are covering others roles. The measure of success is not how full you are in your houses but how many you can support positively see move on wherever possible. Our levels of support were high but at times we were so low on numbers, after moving people on, that we could almost offer seven to ten hours a week direct support to each Companion. Vlthilst tlis level support was fantastic and we made a conscious choice to use some financial reserves to sustain this level of support this year, our income levels with new shops not reaching the incomes of previous shops and kjw occupancy due to success of moving people on thus low housing benefrt income, means this level of support will be unsustainable in the long term. Business We left our big 47,000 square foot Megastore, former B and Q, in Preston which had been our home snce July 2016 at the end of June 2023 and began a new retail story in the fomer shoe store in Lowthian House Preston alongside Iceland. Unfortunately, as we knew last year it did not match our desires for size, locati?n, and car parking. The issues with the store were compounded when the link alleyway beeen the main shopping 8rea and Ringway, where the buses stop, was closed for safety reasons. This closure came in a week before we were due to open and meant no 8ccess to our side doors for customers and no footfall through the alIeaY into town. This closure will be in place until November 2024 and has impacted both ourselves and Iceland's trading. We had predicted trading to tsvo thirds of the old B and Q but in fact it has only been a third. We have searched hard for more suitable premises and met with Landlords and Agents but due to various factors we haven't secured a better deal. We have seen a slight increase in trade in our other stores in Preston town centre but nowhere near enough to meet the shortfall left from our Megastore. In Rochdale we had even more work to do and genuinely the team performed miraclesl In September we found out that the ground floor of our three ffloor 63,000 square foot Department store had been sold and that the escalators between ground and first tloor would need to be removed and we )Nould have to vacate. Fortunately, OLr Landlords in Rochdale, The M8rtin Propety Group, had kindly offered us a single floor former Boots and whilst not the same trading size space, still a very large single trading floor and large warehouse unit. The issue we had is we had just one week to move over and restart in the new store. Thls meant Companions from both Preston and Bumley getting stuck in daily and nightly till late on two shifts to move a gargantuan amount of fumiture, white goods, small electricals, and lots of other items. The move was tough but the new store looked great and we started to trade ok into Christmas, albeit this is always our low trading point as people buy presents not furniture. On return afler Christmas at the beginning January 2024, we knew the Rochdale Exchange had once again been sold and our new Landlord gave us notice on this former Boots store, we had just moved into a few months previous. We managed to negotiste a move back into the middle and upper fioors of our old Department Store, but with ground floor, warehouse induding vehicle access sold off it meant we had to use the upper floor for warehousing and to get our deliveries in and out, to make matters worse the only vehicle we could use was a medium high van vthich we didn't have. So once again for the second time in four months and the third time in under a year we had to move an entire huge fumiture and white goods store and once again within just a week and buy a suitable van. Vvhilst we have lost trading weeks with moves. the largest issue is the reduction in floor trading space as we have moved from 122,000 square feet of trading floor space across all stores in Preston and Rochdale to just 42,000 square feet across all stores. Space means more stock, means more choice and the ability to match customer needs and more chance of a sale. We need to find additional or larger units, look at other income streams and ensure vrfe manage our costs to meet our new level of income.
EMMAUS PRESTON TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Finally A challenging year but one where everyone has given even more to Emmaus. Thank5 to my fellow Trustees, the staff team, our Volunteers, and our Companions who make the two houses across Lancashire one Community. Thanks to our supporters who support us weekly, as you make a huge difference from fundraising within businesses or individually, to donaling food, donaling furniture and indeed choosing to buy off us. I hope reading this will let you seejust what a change you make to people who are formerly homeless and help to be part of giving people a home. I must especially mention Paul Clarke at Cadent Gas who has fundraised with Cadent in many ways including being on the Turf Sleepout but also brought his team out with us on our Outreach at night supporting rough sleepers and the team to tidy up the rooms and gardens at Emmaus House. We need Businesses to support us now morethan ever. The Companions ARE the community, and whilst we as a Board with the staff have made decisions to reduce our costs, we will always ensure they are at the forefront of our minds in all decision making. Financlal revlew Flnancial position Income from the retail outlets has decreased to £440,970 (2023: £687.155). The furnishing scheme assisted a smaller number of companions, and income decreased to £114.399 (2023: £152.524). Housing benefit payments increased to £262,490 (2023.. £252,414) which reflects both the increase in Companion numbers and an increase in the level of housing benefit. Grants received totalled £1,81212023.' £7,160) and donations and gifts received totalled £30,89012023= £37,941). The net movement in funds was a reduction of £188,547 (2023: £178,303), and total funds at 30 June 2024 were £964,689 (2023.. £1,153,236). Reserves policy The reserve policy is kept under review by trustees. In line with advice from Emmaus UK we hold at least the equivalent of three months costs in reseNes to cover overheads in event of closure. The free reserves of the charity are £474,402.
EMMAUS PRESTON TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure> govomanc8 and management Governing document The Charity was incorporated as a company limited by guarantee on 2 October 1998. The cornpany's Memtxandum of Association estsblished its objectives and powers and it is govemed under its Artides of Association. The directors of Emmaus Preston a 81s0 the Trustees for the purpose of Charity law. In the event of the cnmpany being wound up, members are required lo contribute an amount not ex¢eeding £1. Induction and trainlng of new trustees Each new Trustee is briefed about the Community, their legal responsibilities and ethical responsibilities and an indudion programme is in place which indudes visiting other communities and attending an Emmaus UK Federation induction day. Periodic appraisals are undertaken of trustee's skills and suitable training 15 offered. Relatedparties Emmaus Preston is a member of the Emmaus Federation In the UK. Emmaus UK is a federalion of all the Emmaus Groups and Communities in the UK. Emmaus Preston's Chair, a Director and the Communty manager participate in Federation peer group meetings where best practice is shared. Emmaus Pslon reiVeS support from the Federation staff on recruitment, training, publicity, policy development, best practi¢e and fund raising. The tw*ees, who are also the directors for the purpose of company law. and who served during the year and up lo the date of signature of the ffinancial statements were.. JRDean N J Ethards J A Caldwell M G Conlon K C Derbyshi P R Leeming DJMein S Parker J J B Rawkins J Swindells K H Mfiddid(s The trustees. report was approved by th8 Board of Trustees. JRDean Trusteg
EMMAUS PRESTON INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EMMAUS PRESTON I report to the trustees on my examination of the financial statements of Emmaus Preston (the charity) for the year ended 30 June 2024. Responslbllltles and basis of report As the trustees of the charity (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance viith the requirements of the Companies Act 20(b (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. l confirm that no matters have come to my attention in connection with the examination giving me cause to b81ieve that in any material respect.. accounting records were not kept in respect of the charty as required by section 386 of the 2006 Act; or the financial statements do not accord with those records. or the financial statements do not comply wrth the accounting requirements of s8Ction 396 of the 2006 Act other than any requirement that the accounts give a true and fair view vthich is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the statement of Recommended Practice fr)r acLounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK an Republic of Ireland {FRS 102>. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Julie Flintoff BA (Hons) FCA Floor 1, Capitsl House 8 Pittman Court, Pittman Way Fulwood Preston Lancashire PR2 9ZG United Kingdom Dated.. (diis
EMMAUS PRESTON STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestrlctsd Restrlcted funds funds 2024 2024 Totsl Unrestrfcted Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities other trading activities Investments 25,450 262,490 7,252 32.702 262,490 45,101 252,414 45.101 252,414 555,369 14,524 555.369 14,524 839,679 9,537 839,679 9,537 Totsl income 857,833 7,252 865,085 1.146,731 1.146,731 enditure Raising funds 397,723 6.042 403,765 566,745 566,745 Charitable activities 675,416 675,415 728,891 28,692 757,583 Total expendltur• 1,073,138 6,042 1,079,180 1,295.636 28,692 1,324,328 Net gainsl(losses> on investments 11 25.548 25,548 (706) (706) Net movement In funds (189,757) 1,210 (188.547) {149.611) (28,692) <178,303) Fund balances at 1 July 2023 800,187 353,049 1,153.236 949,798 381.741 1,331,539 Fund balances at 30 June 2024 610,430 354,259 964,889 800,187 353,049 1,153,236 The statement of financial activities includes 811 gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
EMMAUS PRESTON BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Flxed ass•ts Tangible assets Investments 14 13 379,102 335,470 366,663 309,922 714,572 676,585 Current assets Stocks Debtors Cash at bank and in hand 15 16 107,611 130,686 218,682 107,039 98,450 499,553 456,979 705,042 Credltors: amounts falllng due wfthln on• year 17 (206,862) (228,391) Net current assets 250,117 476,651 Total assets less current liabllltle$ 964,689 1,153,236 Income funds Restricted funds dfun Designated funds General unrestricted funds 19 354.259 353,049 20 100,000 510,430 800.187 610,430 800,187 964,689 1,153,236
EMMAUS PRESTON BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2024 The company is entitled to the exemption from the audit requirement contained in Section 477 of the Companies Act 2006, for the year ended 30 June 2024. The directors acknowledg8 their responsibilities for complying with the requirements of the Companies Act 2006 wFth resped to a¢¢ounting records and the preparation of financial statements. The members h8ve not required the company to obtain an audit of its financial statements for the year in question in acwrdance with section 476. These financi81 statements have been prepared in accordance with the provisions applicable to companies subject to the small companie5 regime, The financial statements were approved by the Twstees on ..... JRDean Trusteo Company reglstratlon number 03643570
EMMAUS PRESTON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notss Cash flows from operatlng activities Cash absorbed by operations 24 (265,626) (15,917) Investing activitles Purchase of tangible fixed assets Prowds from disposal of tangible fixed assets Investment income received (29,770) (15,282) 8.501 9,537 14,525 Net cash (used in)Igenerated from Investing activltles (15,245) 2,756 Net cash used In flnancing actlvlties Net decrease in cash and cash equivalents (280,871) {13,161) Cash and cash equivalents at beginning of year 499,553 512,714 Cash and cash equlvalents at end of year 218,682 499,553
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting poll¢tes Charity Information Emmau5 Preston is a private company limited by guarantee incorporated in England and Vvales. The registered office is The Birches, 165 Ribbleton Lane. Preston, Lancashire, PR15ST, United Kingdom. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102°) and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advanta9e of the provisions in the SORP for charities not to prepare a Statwnent of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The fin8ncial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concèrn At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the IrLBtees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific condrtions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performan conditions have been met. the amount5 can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations r8ceived under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf 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 contingent asset. 10-
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accountlng policias (Contlnued) 1.6 Expendlture Expenditure is recognised once there is a legal or constwctive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activty ar8 made up of the total of dIrt costs and shared costs, including support Costs involved in undertaking each activity. Direct costs attributable to a single adivity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreaation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assots Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to lte off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold Land & Buildings Plant & Equipment Fixtures, Fittings & Equipment Computer Equipment Motor Vehicles 2% Straight Line 25 % Straight Line 250/0 Straight Line 25 % Straight Line 33 % Straight Line Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is detemined as the difference betsyeen the sale proceeds and the carrying value of the asset, and is recognised in the ststement of financial activities. 1.7 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairnient of fixed assets At each reporting end date, the ch8rty reviews the carying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any}. 1.9 Stocks Stocks are stated at the lower of cost and net realisable value. Stocks are comprised of bought in goods. Donated goods are held at nil value. 1.10 Cash and cash equlval8nts Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 11
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting pollcles (Contlnued) 1.11 Flnancial instruments The charity only has financial assets (debtors, cash and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value. 1.12 Taxatlon The charity is exempt from corporation tax on its charitable activities_ 1.13 Employee benefits The cost of any unused holiday entrtlement is recognised in the period in which the employee's SeiCe5 are reived. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to teminate the employment of an employee or to provide termination benefits. Critical accounting estlmate8 and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estlmation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carying amount of assets and liabilities are as follows. Depreclatlon and resldual valuos Property. plant and equipment are depreciated over their useful economic lives to their estimated residual values. Both the estimated useful life and the residual value are reviewed at least at each financial period end. Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Grants 25,450 5,440 1,812 30,890 1,812 37,941 7,160 37.941 7,160 25,450 7,252 32,702 45,101 45,101 12-
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitable activltles Unrestrlcted Unrestricted funds funds 2024 2023 Emmaus Community- Rents and housing benefits received 262,490 252,414 Other trading actlvltles Unrestrlctsd Unrestrlcted funds funds 2024 2023 Shop and other sundry income Furnishing herne 440.970 114,399 687,155 152.524 555,369 839,679 Investments Unrestrlcted Unrestrfcted funds funds 2024 2023 Interest receivable 14,524 9,537 Ralslng funds Unrestricted Restrlcted funds funds Total Unrestrlcted funds 2024 2024 2024 2023 Fundraisin and ublicit Operating costs Bad debts 397,497 226 6,042 403,539 226 566,470 275 397,723 6,042 403,765 566.745 13-
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitable actlvlties 2024 2023 Staff costs Companion housekeeping and sundries Companion allowances Companion move on funds maintenan and utility costs Recruitment expenses Other overheads Friends of Fishwick & St Matthew5 costs Free Street costs Depreciation Loss on disposal of tangible fixed assets 315,658 57,887 88,900 17,090 135,973 53 37.524 322,892 63,160 86,362 15,643 194,528 1,085 26,126 20,285 8,407 8,738 1,633 13,513 3,817 670,415 748,857 Governance costs 5,000 8,726 675,415 757,583 Analysls by fund Unrestricted funds Restricted funds 675,415 728,891 28,692 Included within governance costs are indepedent examiner fees of £5,000. In the previous year, g0ManCe costs of £8,726 related to auditors remuneration. Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the d)arity during the year. 14-
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 12 14 Employment costs 2024 2023 Wages and salaries 315,658 322,892 There were no employees vthose annual remuneration was more than £60,000. 11 Net gainsl(losses) on investments Unrestricted Unrestricted fvnds funds 2024 2023 Revaluation of investments 25,548 (706) 12 Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 13 Fixed asset Investments Listsd Investments Cost or valuation At 1 July 2023 & 30 June 2024 336,620 Impairment At 1 July 2023 Revaluats'on 26,698 (25,548) At 30 June 2024 1,150 Carrylng amount At 30 June 2024 335.470 At 30 June 2023 309,922 15-
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EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 15 Stocks 2024 2023 Stock 107,611 107,039 16 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 50,099 28.245 52,342 41,345 14.848 42,257 130,686 98,450 17 Credltors: amounts falllng due within one year 2024 2023 Other laxation and social security Trade creditors Other creditors Accruals and deferred income 11,234 89,766 19,409 86,453 5,641 56,993 21.467 144,290 206,882 228,391 18 Retirement beneflt schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 17-
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EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 20 Deslgnated funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted fvnds by the trustees for specific purposes.. Movement in funds Incomlng Balance at 1 July 2023 Translers Balance at 30 June 2024 Securing premises 100,000 100.000 100,000 100,000 Securing premises - This designated fund represents the amount set aside for securing future retail & commercial premises for trade. 21 Analysls of net assets between funds Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Fund balances at 30 June 2024 are represented by". Tangible assets Investments Current assetsl(liabilities) 36,028 335,470 238,932 343,074 379,102 335,470 250,117 23,589 309,922 466.676 343,074 366.663 309,922 476,651 11.185 9,975 610,430 354,259 964,689 800,187 353,049 1,153,236 22 Contlngent liabilltles Grants received from the Emmaus UK Solidarity Fund between 2001 and 2021 totslled £295.000. These would become repayable in the event that Emmaus Preston ceased to be a member of the Emmaus UK Federats"on to the extent that donats.ons to Emmaus UK Federation did not equal this sum On 30 April 2022 Emmaus PStOn and Emmaus Burnley merged. The contingent liabilty from Burnley of £145,000 was added to the contingent liability of Emmaus Preston, along with the £224,000 loan from Emmaus UK to Bumley. The total contingent liability in Emmaus Preston now stands at £664,000 (2023.. £664,000). 23 R•latsd party transactlons There were no disclosable related party transactions during the year {2023 - none). 19-
EMMAUS PRESTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 24 Cash generatad from operations 2024 2023 Deficit for the year (188,547) {178,303) Adjustments for.. Investment income recognised in statement of financial activities Loss on disposal of tangible fixed assets Fair value gains and losses on investments Depreciation and impairment of langible fixed assets (14,524) 3,817 (25,548) 13,513 <9,537) 1,633 706 8.736 Movements in working capital.. (Increase) in stocks (Increa5e)Idecrease in debtors (Decrease)lincrease in creditors (572) (32,236) {21,529) (39.300) 36,402 163,746 Cash absorbed by operatlons (265,626) (15,917) 25 Analysis of changes in net funds The charity had no debt during the year. -20-