Oocusign Erb¥elop• ID.. $807598&783647F8.8CCD4E970002E6DO EMMAUS HERTFORDSHIRE LTD Financial Statements For the Year Ended 30 June 2024 Char5ty Registratlon No: 1073808 Company Registration No.. 03692409 •ADZNQSXC* 2910312025 COMPANIES HOUSE A03 #59 D￿SIgn Envelope 10.. 58o75983.783647F&BCC￿3E9700o2E6D0 EMMAUS HERTFORDSHIRE LTD CONTENTS Page Trustees, report 14 Independent auditors, report Statement of financial activities 10 Balance sheet 11 Statement of cashflows 12 Notes to the financial statements 13-22 Dwjsiw Envelope ID.. 5807598>783647F8-BCCD-3E970fM12E6DO EMMAUS HERTFORDSHIRE LTD REFERENCE AND ADMINISTRATIVE DETAILS Trustees: John 8ett Simona Bojare Samantha Drury Julia Elson Richard Exact Fiona Falle Michelle Hart Heather Hurford Chloe Mann Robert Prynn Harley Scott David Sawdav -IRe518ned on 13 March 20241 - IAppolnted on 6 December 20231 (Chairl IResi£ned on 13 March 20241 IAppolnted on 13 March 20241 Company Secretary. Fiona Falle Reglstered Oflke: Hill End Lane St Albans Hertfordshlre AL4 OFE fteclstered Company Number: 03692409 (England and Wales) Reilstered Charlty Number: 1073808 Audltors: Mercer & Hole LLP Trinity Court Church Street Rickmansworth Hertfordshire WD3 IRT Pilnclpal Offlce: Hill End Lane St Albans Hertfordshire AL4 OFE Bankers: CAF Bank 25 Kin8$ Hill Avenue West Malling Kent ME144JQ Oocusign Envelope ID: 5807598&783647F&BCCD4E970002E6DO EMMAUS HERTFORDSHIRE LTD TRUSTEES, REPORT The trustees, who are also directors of Emmaus Hertfordshire for the purposes of the Companies Act 2006, submit their annual report and financial statements of the charity for the year ended 30 June 2024. The trustees confirm that the annual report and financial statements of the charrty comply with current statutory requirements, the requirements of the charity's governing document, the Companies Act 2006 and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance wf(h the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), as amended for accounting periods commencing from 1 January 2019. Objectives and activities The objectives are the alleviation and relief of povety, hardship, and distress across Hertfordshire. The policies adopted in furtherance of these objectives are the provision of accommodation, assistance. and meaningful work experien￿ for homeless people within a community Tun in accordance wrth the concepts and principles of Emmaus and its international manifesto. The trustees have paid due regard to guidance issued by the Charty Commission in deciding what activrties the Charity should undertake. About Emmaus Hertfordshlr• Emmaus is a homelessness charity with a difference. We are the charity that works. We do not just give people a bed for the night,. we offer a home for as long as someone needs it, meaningful wo experience, and a sense of belonging. For rnany people who have experienced homelessness, losing their self4steem can be the most damaging part of their experience. Being on your own, with no support around you can be soul destroying, leaving you feeling worthless. Emmaus gives companions, as we call our residents, the opportunity to take stock of their lives. deal with any issues they might have, and often re-establish relationships with loved ones. The community is one of 30 currently operating in the UK. Our HMO (house in multiple occupation> licence currently enables us to provide bed spaces for up to 36 companions to live on srte Each companion has their own room and their own front door key In return for accommodation, meals and a range of support services companions are encouraged to undertake 40 hours of volunteering for our social enterprise or working in the community. Companions volunteer in our 4 shops, on our vans, collecting, delivering, and renovating donated fumiture. Companions also cook the meals, clean the home and maintain the community building and garden. We have continued to support a range of other charities, voluntary organisations and individuals with 'solidarily' furniture packs and our close partnership with the Hertfordshire Association for the Care and Rehabilitation of Offenders ("HACRO") has continued, generating new opportunities and positive outcomes for both HACRO clients and Emmaus companions. Trading income has been supplemented by support from a range of donors. corporate partners. trusts and foundations who have ranged from large, national funders to small. local community groups. We are grateful to everyone who has supported us and enabled us to continue our vital charitable work. Our trustees, volunteers and key local and national stakeholders have also continued to be very supportive, and we extend our thanks to them all. Achievements and performance 2023124 presented the charity with another mixed bag of challenges and opportunities. Our high-level ambition continues to be to offer a better range of services and support to more Companions, but this in turn creates pressure on the social enterprise and our fundraising activity to generate the required income. Like-for-like trading across the retail estate was strong and reflected a relatively buoyant UK charity retail market, but overall trading performance was negatively impacted by the loss of our shop in St Peter's St which VR were forced to vacate in March 2024 to enable the landlord to redevelop the block. Losing this presence on the high Street of our hometown is a blow both in terms of income and Dowslgn Emielow ID.. 58075983-783847F&BCCD.3E970002E6DO EMMAUS HERTFORDSHIRE LTD TRUSTEES, REPORT visibility and we continue to explore options which will enable us to return to the town centre. In the meantime, we managed to bolster our trading revenues by opening a new relail store in Letchworth. This large unit gives us good trading potential and storage capacity and a lease which is linked to trading revenues makes the unit both affordable and low risk for us. It also gives us a visible presence in the north of the county which will hopefully open new marf(ets for donations. support and funding. house clearance business and potentially referrals. House clearance continued to be adversely impacted by the intermittent absence of a key staff memberwho was battling both physical and mental health issues. Companion numbers remain steady in the low thirties and as we work to increase the resource in the support function, including the hiring of an experienced manager lo lead the team, we see numbers of referrals rising in line with our capacity to engage with referring organisations. Thanks to continued support from Crash. we continued work to improve our communty building and the day-to-day living condrtions for the companions by replacing radiators, light fittings and sinks in all of their rooms. This should also mean that we can heat the building more efficiently and economically. We continue lo engage actively with the wider work of Emmaus across the UK and internationally. Our CEO was elected in November to the boards of Emmaus Europe and Emmaus International and chairs the SE regional grouping of Emmaus in the UK and sils on the UK Federation Committee. This positions us to benefit from the support and potential funding that the federation can offer. We continue to be most grateful to our Patrons, Lord and Lady Cecil, for their support and personal involvement in the community. Our trustees and other volunteers make a vital contribution to our work, and we were delighted to receive a steady flow of supporters, partners and stakeholders as visitors to our community. As part of a continuing effort to raise our profile we hosted the screening of 'l'm still here,, a film about homelessness which features one of our companions and this was well attended by a range of our partners and supporters. Thanks to Rothamsted Enterprises for their help in making their audrtorium available for this event. Solidarity Solidarity is helping others who are vulnerable or experiencing difficulties. It involves standing together and supporting one another in times of need, without judgement or discrimination. It can be expressed through various actions, such as donations, activism, or volunteering, all aimed at promoting the greater good of society. Solidarity is a powerful force that can inspire positive change. It is all aboul uniting in a common goal to help others in greater need, with every small acl of kindness collectively making a world of difference. We continue to support the Emmaus movement internationally with solidarrty payments and to host severe weather emergency provision pods for rough sleepers on behaSf of the dislrict council outreach team. We also provide a significant number of low or in some cases no-cost furnilure packs to those in need and offer a discount to anyone on benefits who shops with us. We also involve our Companions in activilies such as festival salvage which we undertake in collaboration wrth Herts for Refugees and this kind of activity fulfils a valuable role in boosiing their confidence and sense of self-worth. Our companions We remain proud to be supporting companions as they progress in their lives, with support for those ready for employment into full-time Jobs. Companion Data Table 202212023 51 930 70/0 2023124 50 88% 12% Average age Gender.. Male Female Positive Move-ons Number of rooms. Occupancy rate 36 36 87% ' The number of rooms reflects the maximum occupancy stipulated on the current HMO licence Do￿$Ign Envel¢)p8 10.. 5807598>783647F&BcC￿3E9700o2E6(x} EMMAUS HERTFORDSHIRE LTD TRUSTEES, REPORT Referrals & New Com anions We continue to receive referrals from muttiple sources, with many from mental health, prison and addiction services. As ever, we try to balance the needs of the new companions with those of the established community. The trend for referrals of individuals with multiple complex needs continues, as does the corresponding challenge of balancing the needs of Ihe individual wilh our wider responsibiltty and duty of care to the community. Increased capacity and capability in the support team will hopefully make it easier for us to manage this challenge because there are no signs that the nature of the individuals being referred to us is likely to change in the foreseeable future. We also still face perennial issues such as the reluctance among some homeless people to reject Universal Credit or to participate In the work of the community. We received 222 referrals across the year and 2 1 new companions joined the community. This figure compares to 111 referrals 111 new companions in 2022123. Move-on Over the year we had 12 companion move-ons, of which 4 were positive and 8 companions were asked to leave the communrty by way of a Nolice To Quit for breaches of no-alcohol on sile, drug use elc. This compares to 7 positive moves-ons and 6 companions asked to leave the community in 2022123. The lower number of posrtive move-ons reflects the fact that although the employment martet is relatively strong, the high cost of living in the district makes a sustainable move-on a real challenge. We continue to work with the local authority housing team to create viable options, because the reality is that the local private rental market is out of reach for many, The inciease in the number of companions asked to leave the community is a result of accepting companions with higher levels of support needs and this trend is expected to continue over the medium term. Solidarit Over the year we have continued to provide solidarity rooms to up to three people who have no recourse to public funds and are ineligible to claim housing benefit. The skills, knowledge, experience, and work ethos these companions bring with them Is vrtal to the community, as well as bringing welcome cultural diversity. Looking ahead The key aim for 2024125 will be to continue the current direction of travel, balancing the need for further work on the community building with a desire to generate more and better opportunities for personal development and ultimately positive move-on for companions on the other. We believe that a key enablerlothis will be the impact ofthe better resourced support team, but as ever in a small organisation staff continuity will be key and in a charity which pays significantly lower wages than the commercial sector this is a constant challenge. We will continue to work to develop a more robust and efficient social enterprise. which seeks to maximise both the revenue*arning potential for Ihe organisalion and the development opportunity for companions. Our aim will be to have a full {hopefully with a waiting list) and fully staffed community. which is developing and generating positive outcomes for a steady throughput of companions who are moving on in positive circumstances. We will also continue to seek cost-effective ways to raise our profile locally and to build partnerships with organisations who share similar purposes to our own. Impact We strongly believe that the inherent value of our support and the positive progress made by our companions far exceeds our annual costs. As well as the direct benefits for individuals, the reduction in demands on local health. housing. employment, criminal justice, and other services is considerable. In addrtion to the benefit we deliver to our companions we are also proud of the positive environmental Docusign Envelope 10.. 58o7598&783647F&BCC￿3£97l)oo2E600 EMMAUS HERTFORDSHIRE LTD TRUSTEES, REPORT impact that is a core strand of the DNA of our social"enterprise as we save several thousand tonnes of furniture and other items of bric-a-brac from landfill each year. Principal fundlng sources The principal unrestricted funding sources for the charity are currently retail and house clearance income, gift aid, legacies. donations (from individuals, organisations and trusts and foundations). and housing benefit. Flnancial review Overall, gross incomeforthe yearwas, £1,208,778, just over £73,428 (or6.50/ts) up from the £1,135,350 achieved during the prior year. This change was driven by a reasonable trading performance (notwthstanding some adverse impact caused by changes in shop locations>, and good progress in terms of fundraising. Generous supporters again contributed donations and legacies of £196.313 <2023 £204,408). Costs continued to be tightly controlled with overall spend of £1,250,272 up £163,949 (or 15.IOh) from the prior year figure of £1,086,323. The overall deficit for the year was £41,494 {2022-2023- £49,027 surplus). The charity continues to be run efficiently while seeking to achieve high standards of govemance. One member of staff was paid more than £60.000 p. Reserves The charity has ￿nsIderable basic operating costs amounting to £1,250,272 in the year ended 30 June 2024. The trustees, policy is to maintain a minimum level of reserves, in cash equivalent to three months expenditure estimated at £312,568 based on the actual costs for the year to 30 June 2024. At 30 June 2024, total unrestricted funds were £675,019 of which £324,424 was the net current asset position and £496,774 was held in cash or cash equivalents. The Charlty Govemance Code The Charity Governance Code sets out the principles and recommended practice for good governance within the sector. Members of the board conducted an internal audit against the code during the year and this has resulted in an ongoing action plan which has been worked on during the course of 2023124 to ensure continued compliance wilh the code. Equallty. Dlverslty, Incluslon Equalty. Diversity, and Inclusion ("EDI') are essential pillars for an organisation focused on reducing stigma, promoting wellbeing, and sustaining positive change. Our view of our equality perfomance is that there are improvements we can make to ensure we have a diverse, representative organisation, and that our services are inclusive and welcoming to people from currently under-represented groups. We recognise that we can always do more to be representative of the communities we senie, and this will continue to be factored into our recruitment policy for both staff and trustees. Strategy and Risk Management We will continue to review the perfomance and challenges faced by the social enterprise and retail environments in which y￿ operate and ensure the charity extends its support and works with those most in need. Our guiding strategic ambition is still to have a more comprehensive and better targeted development proposition for more companions which we deliver from better facilities in an environment which is safer, greener and more friendly. Responsibility for the organisation's strategic direction rests with the trustees who invite the input of other stakeholders. The risk register is regularly reviewed by both the Risk Ccwnmittee and the board, Ooujwn Envelope 10.. 58075983-783647F8-BCCD-3E970002E600 EMMAUS HERTFORDSHIRE LTD TRUSTEES. REPORT as well as the systems and procedures established to identify and mrtigate the risks the charity faces. The risk register is prepared in accordance with the Charity Commission document (CC26 dated June 2010). We remain alert to our potential vulnerability arising from reliance on retail for most of our income and this has been highlighted by the enforced changes in the retail estate during the year. The intent is to continue to grow and refine the social enterprise operation to minimise this risk, but in the meantime having a significant, recurring stream of unrestricted revenues is a great strength of the Emmaus model and means we avoid the grant or commissioning contract renewal 'cliff edge, which threatens so many smaller charities. Operational risk driven by a heavy dependency on a few key staff in a small team is an ongoing risk we continually monitor and the nature of our work and the Issues which the companion cohort bring with them inlo the community mean that reputational risk and our standing in the wider communrty are also issues which we continue to consider carefully. Structure, gov•rnanc•, and managam•nt The charity is a company limrted by guarantee, incorporated on 6th January 1999, and registered as a charrty on 3rd February 1999. The company was eslablished under a Memorandum of Association which established the objects and powers of the charitable company and is governed under ils Articles of Association, which were last revised in 2019. A copy is available on request from the Company Secretary. None of the trustees has any beneficial interest in the company. All the trustees are members of the company and guarantee to contribute up to a maximum of £1 in the event of a winding up. The trustees, who are also the directors for the purpose of Company law, who served during the year were.. John Richard Belt Samantha Drury Julia Sharon Elson Richard Anthony Exact Fiona Falle Heather Margaret Hurford Chloe Mann David Sawday Robert James Prynn Simona Bojare Michelle Hart Harley Scott (Resigned on 13 March 2024) (Appointed 6 December 2023> (Appointed 13 March 2024) (Resigned 13 March 2024) Recruitment and Appo5ntment of Trustees Under the requirements of the Memorandum and Article5 of Association each trustee is elected for a fixed three-year lem of office. which will expire at the conclusion of an Annual General meeling but then shall be eligible for re-election. Any trustee having completed nine years continuous service shall not be eligible for re-appointment for at least one year unless there are exceptional circumstsnces. The charity seeks to ensure that the trustee body includes individuals with experience of the needs of homeless individuals as well as the more traditional business skills. Recruitment of trustees has been undertaken and is planned to ensure that sufficient skills are in place as long-standing trustees complete their period of tenure. Trustees are required to provide a list of their skills, (and update rt each year), and in the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the trustee body. Emmaus Hertfordshire is a member of the Nalional Council for Voluntary Organisations (NCVO) and positlvely recruits for trustees with specific skills andlor lrfe experience. Docusign Envelope ID.. $807598>783H7F8.BCCD4E970002E6DO EMMAUS HERTFORDSHIRE LTD TRUSTEES, REPORT Statement of Trustees, Responsibilities Company and charity law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charty and of the surplus or deficrt of the charrty for that period. In preparing those financial statements the trustees have: Selected suitable accounting policies and applied them consistently. Made judgements and estimates that are reasonable and prudent. Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and Prepared the financial statements on a going concern basis. Connected Charities The charity is a member of Emmaus UK Federation, together with 28 other Emmaus groups and communities. The charity is also a member of Emmaus Europe and Emmaus International. The Directors of Emmaus St Albans previously controlled a dormant company, Emmaus Hertfordshire (No.. 10687735). The original intention was that this company would be used for promotion. publicity, and fundraising, but it previously remained dormant throughout the period and was Struck off in March 2024. Declaratlon In accordance viith company law, as the companls directors we certify that., So far as we are aware there is no relevant audit infomation of which. the company's auditor is unaware., and We have taken all the steps that we ought to have taken to make ourselves aware of any relevant audit infomation and to establish that the charity's auditor is aware of that infomiation. Audltor The auditor. Mercer and Hole LLP.Chartered Accountants, was appointed under section 487{2) of the Companies Act 2006. A resolution regarding. the appointment of the auditor will be proposed at the Annual General Meeting. This report has been prepared in accordance wrth the Statement of Recommended Practice.. Accounting and Reporting by Charities (October 2019). This report has been prepared in accordance with the special provisions of S414 (3) of the Companies Act 2006 ￿lating to small companies. 271312025 This report was approved by the trustees on ....-..-............ and signed on their behalf by.. 91pTr•d br. CQB7Awewp2401.:: H.M.Hurford Chair of Trustees Dated.. 271312025 Docusign Env8lop8 10.. 58O75983.783647F&BCCt￿3E9TlJo02E6D0 EMMAUS HERTFORDSHIRE LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS HERTFORDSHIRE LTD Opinion We have audited the financial statements of Emmaus St Albans (the 'charilable company,) for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of signfficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standsrds, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepied Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its income and application of reSoUr￿s, including its income and expendrture, for the year then ended., have been properly prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wrth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wrth International Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the rinancial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wrth these requirements. We believe that the audit evidence we have obiained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAS {UK) require us to report to you where.. the truslees, use of Ihe going concern basis of accounting in the preparation of Ihe financial statements is not appropriate., or the trustees have not disclosed in the financial statements any identified malerial uncertainties that may cast significant doubt about the charitable company's ability to conlinue to adopt the going concern basis of accounting for a period of at leasl twelve months from the date when the financial statements are authorised for issue. Other Information The trustees are responsible for the other information. The other information comprises the infomiation included in Ihe Iruslees. annual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other informalion and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in doing so, consider whether the other infomiation is materially inconsislent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misslatement in the financial statements or a material misstatement of the other infonnation. If, based on the work we have performed. we conclude that there is a material misstatemenl of this other information, we are required to report that fact. We have nothing to report in this regard. Do¢uslgn Env¢lope ID: 5807598$783&47F&BCCD-3E970002E600 EMMAUS HERTFORDSHIRE LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS HERTFORDSHIRE LTD Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion.. adequate accounting records have not been kept the information given in the financial statements is inconsistent in any material respect wth the trustees, report., or the charitable company has not kept adequate accounting records; or Ihe financial statements are not in agreement with the accounting records and ￿tuMs., or we have not received all Ihe information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company lawy 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 determine is necessary to enable the preparation of financial statements that are free from material misstalement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the truslees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibillties for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Explanatlon as to what extent the audlt was consldered capable of detectlng Irregularltles, including fraud We gained an understanding of the legal and regulatory framework applicable to the charitable company and the housing and retail sector in which it operates and considered the risk of acts by the charitable company that were contrary to applicable laws and regulations, including fraud. These included, but were not limited to, Ihe Companies Act 2006 and the Charities SORP 2019. We evaluated trustee's incentives and opportunities for fraudulent manipulatlon of the financlal statemenls and the financial report (including the risk of override of controls),and detemined that the principal risks were related-to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates. Audil prO￿dureS perfom)ed by the engagement team included.. discussions with management and trustees, including considerations of known or suspected instances of non- compliance wrth laws and regulations and fraud: gaining an understanding of management's controls designed to prevent and detect irregularities: identifying and testing a sample of high-risk joumal entries,. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial stalements, even though we have properly planned and perfomed our audit in accordance wrth auditing standards. For example, the further removed non- Complian￿ wrth laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited pnKedures required by auditing standards Docu$lgn Envelope ID.. 5807598>783647F&BCCO-3E970002E600 . EMMAUS HERTFORDSHIRE LTD INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMAUS HERTFORDSHIRE LTD would identify it. In addition, 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 not responsible for preventing non- compliance and cannol be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council's websile at: https'.Ilw*w.frc.org.uklauditorsresponsibilities. This description forms part of our auditols report. 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 stale to the Charitable company's members those matters 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 anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Ooo￿alOn•d by. 270C2i32thl343b. Jolene Upshall FCA {Senior Statutory Auditor) For and on behalf of Mercer & Hole LLP Trinity Court Church Street Rickmansworth Hertfordshire WD3 1RT 271312025 Date.. Mercer & Hole LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006. Do¢uslgn Envelope 10.. 58o75983-783847F&8cC￿3E97(Hxl2E6D0 EMMAUS HERTFORDSHIRE LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Statement of Financial Activities (including Income and Expenditure Account For the year ended 30 June 2024 Total Unrestricted Funds Total Restricted Funds Totsl Funds 2024 Totsl Funds 2023 Nots• Incom• Donations and legacies Charitable activities Other trading actsvities Investments Other income Total incomo 103,942 280,881 697,092 5.261 29.231 1,116,407 92.371 196.313 280.881 697.092 5,261 29.231 1.208,778 204,408 237.975 677,831 2,766 12,370 1.135.350 92,371 Exp•ndlturo Raising lunds Charitable actsvities Total expendlture 3,407 1.126.442 1,129.849 556 119,867 120,423 3,963 1,246,309 1,250,272 325 1,085,998 1,086,323 N•t in¢om•l{•xp•ndltur•) 113,442> {28,0521 141,4941 49,027 Transfers Net movement In funds for the year 113,442) {28,052} {41,494} 49.027 lon f fund• Fund balance brought fop4¥ard at 1 July 2023 Fund balance carrled fornard at 30 June 2024 688.461 598,087 1,286,$48 1.237,521 676,019 670,036 1,246,064 1,286,548 The siatement of financial activities includes all gains and losses r8¢ognised in the year. All income and expenditure derive from continuing activities. The split of funds for the comparative year is included in note 21 of the accounts. 10- Oocusign Envelope ID.. 58075983-783647F8-BCCtk3E970002E6DO EMMAUS HERTFORDSHIRE LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Balance Sheet as at 30 June 2024 30 June 2024 30 June 2023 Tanglble Flxod A880t8 Current Assets Debtors Cash al bank and in hand 13 830.872 827,671 14 84,891 496,774 581,665 89,629 520,982 610,611 Credltors Amounts falling due within 1 year 15 (167,483) 1151,734) Not Curr•nt Assets 414,182 458,877 Nel Assets 1,245,054 1,286,548 Accumulated Fund8 Unrestricted funds Restricted funds Total Charity Funds 675.019 570,035 1,245,054 688,461 598,087 1,286,548 16 The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the slate of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply wilh the requirements of the Companies Act 2006 relating to account8, $0 far as applicable to the company. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard (FRS 102>. 271312025 Approved by the Board of Trustees and Directors on...........................and signed on Iheir behalf by,. ty.. B7A23BB7F24CI... H.M.Hurford Chair Trustee 271312025 Date: The notes on pages 13 to 22 forrn part of these financial statements. 11 Oo¢u5ign Envelope ID.. 5807S983-783647F8-BCCD-3E970002E6DO EMMAUS HERTFORDSHIRE LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Statement of Cash Flows For the year ended 30 June 2024 2024 2023 Note Cash flow8 from op¢rallng actlvltle• 19 9,306 66,334 Cash flows from Invootlng acllvllle8 Sale of disposed assets Interest incomè Purchases of tangible fixed assets 5,261 {38.775) 2.766 {8301 Net u•h from Inve•llng 4ctlviti88 Cash flows from finaneing actlvltlos Cash uséd in financing activities Net ¢a•h from flnanclng acll¥ltl•8 {De¢reasel I Increase in cash and cash equivalents in the year {24.208) 68.270 Total cash and cash equivalents at 1 July 2023 520,982 452,712 Total ca•h and u•h •qulval•nl• at 30 Jun• 2024 496,774 520,982 12- Dwislgn Envelop9 ID.. 5807598>7B3647F8.BCCD4E971Th)02E6DO EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Charity information Emmaus Sl Albans is a private company limrted by guarantee incorporated in England and Wales. The registered office is Hill End Lane, St Albans, Herts. AL4 OFE. Accountlng pollcles The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements. Accountlng convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Acl 2006 and"Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in 8ccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (as amended for accounting periods commencing from 1 October 2019). The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Going concern At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the ' accounts. Charltable fund8 Unrestricted funds are available for use at Ihe discretion of the trustee8 in furtherance of their ¢haritable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions 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 accounts. Incomlng r•sourc Income is recognised when the charrty is legally enlilled to it after any performance conditions have been mel, the amounts can be measured reliably, and il is probable that income will be ceived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performan￿ conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised only when receivable. Income from government and other grants, whether 'capital' granls or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance condrtions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Resources expended Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of Ihe obligation can be measured reliably. 13- Docu$¢gn Envelope ID.. 5807598&783647F&BCc￿3E970oO2EGD0 EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting pollces (Continued) Resources expended Icontinued) All expenditure is accounted for on an accruals basis. All expenses including support costs and governance Costs are allocated or apportioned to the applicable expenditure headings. Tangible fixed assets Tangible fixed assets are measured at cost. net of depreciation and any impairment losses. Depreciation is ￿CogniSed so as to vlriie off the cost of assets less their residual values over Iheir useful lives on the following bases: Land and buildings leasehold Fixtures, fittings & equipment Motor vehicles 2°/0 Straight line I lease term 200/0 Straight line 200A straight line Stocks The Charity held undistributed assets, principally donated goods awarting resale, at the year- end that have not been recognised in these financial statements. The value of these is dependent on what a willing buyer would pay and hence rt is not practical to estimate. Cash and cash equivalents Cash and cash equivalent5 include cash in hand, deposits held at call with banks and other Short-term liquid investments wilh original maturities of three months or less. Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value. 1.10 Retirement benefits Payments to defined ¢onlribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting •stimat•s and judgements In the 8pplication of the charitys 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 associaled assumptions are based on historical experience and other factors considered to be relevanl. Actual results may drffer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimales are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty Companlon Fund Allowance Each companion has an allowance which will be paid upon leaving the company. This allowance is from a weekly amounl being put in by the charity. An estimate is made at the year end to make sure the companion allowance payable has been recorded correctly. 14- D￿USIgn Envelopg10'. 5807S983-783647F8.BCCD-3E970002E600 EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Donations and legacies Unrestricted Funds Restricted Funds Total 2024 Total 2023 Donations and grfts 103,942 92.371 1%.313 204,408 For the year ended 30 June 2023 59.263 145,145 204,408 Donatlons and gifts Hlll End Multlfunctlon Room: Emmaus UK Other Donations and Gift ald: Emmaus UK 7,862 55 7,862 55 10,141 40 CAF Charities Aid Maintenance Grant 86,815 86,815 135,819 5.000 Kitchen Grant 5,000 5.000 Workforce Development Grant Other Donations and Gift aid 2,000 96.025 556 96,S81 196,313 51,408 204.408 103,942 92,371 4. Charltable Actlvltles 2024 2023 Housing Benefit 280,881 237 975 S. Other trading activities 2024 2023 Sales of donated furniture and I￿usehold items 697,092 677,831 15- Oocu81gn Envelope ID.. 5807S9B>783647F8-BCCt>3E970002E600 EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 6. Investments 2024 2023 Interest receivable 5,261 2,766 7. Other income Unrestrlcted Funds Restricted Funds Total 2024 Total 2023 Rental 15,216 15,216 18,214 Sundry deposits 4,017 4,017 4,279 Government support 110,214) Gift Aid Received 9,998 9,998 91 29,231 29,231 12,370 8. Raising funds 2024 2023 Fundraising and Publicity 3,963 325 16- Docusign Enveloptr ID: 5807598&783647F8-BCCD-3E970002E6DO EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 9. Expenditure on Charitable Activities Communlty Running Costs Solldarlty Payments Totsl 2024 Total 2023 Staff costs Companion costs Premises costs Vehide fleet and travel costs Equipment Hire and workshop Accounting, legal and banking ' Administration Support to others 503,102 320,513 256,528 S1,22S 22.460 18,496 42,086 503,102 320,513 256.528 51.225 22,460 18.496 42,086 17.870 428.864 178,584 289,020 47,492 15,466 15,371 53.759 29,270 17,870 1,214.410 17,870 1,232,280 1,057,826 Share of support costs {Nole 101 Share of governan￿ costs (Note 10) 14.029 14,029 17.920 10,252 14,029 14,029 1,085,998 Analy818 by Fund Unrestncted lund8 Restncted funds 1,108,612 119,927 1,228,439 17,870 1,126,382 119,927 1,246,309 17,870 Analy818 by fund 30 Jun• 2023 Unrestricted lunds ReStri￿e whose annual remuneration was £60,000 or more. 18- Docusign Envelope ID.. 5807598&783647F8-BCCD4E970002E6DO EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 13. Fixed Assets Land and buildlngs leasehold Fixturo, fittings & equipment Motor vehicles TOTAL Cost 1 July 2023 Additions Disposals 30 June 2024 1,347,321 31,377 19,881 3,243 56.830 4,155 1.424.032 38.775 1.378,698 23,124 60,985 1,462,807 Depreclatlon 1 July 2023 Charge Disposals 30 June 2024 525,958 32,053 15,943 1,685 54.460 1,836 596,361 35,575 558,011 17,628 56.296 631.935 NBV 30 Jun• 2024 820,687 B.496 4,689 830,872 1 July 2023 821,363 3,938 2,370 827,671 14. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 15,661 29,753 39.477 84,891 5,486 84,015 128 89,629 15. Creditors: Amounts falllng due withln one year 2024 2023 Trade creditors Accruals and deferred income other tsxation and social security Other creditors 85.925 64.623 16,935 55,825 39.676 7,877 43,35e 151,734 167,483 19- Docusign Envelope10.. 5807598&783647F&BCCD-3E970002E600 EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 16 Movement In funds 30 June 2024 Transfer between funds Asat 1Jul 202 Asat 30 June 2024 Income Expenditure Unrestricted funds: General fund 688,461 1,116.407 (1.129,8491 675,019 Restrlcted funds: Hlll End Communlty Fund." Various improvements Shop extension Flat conversion 20.273 20,273 80,774 44,864 80,774 44,864 314,145 National Lottery Grant B•atrle• Lalng Fund.. Property improvements Crash Fund: 314,145 107,399 58.127 (104.678) 60,848 Property Improvements Mlsc Funds (10) 25,938 8,306 115,189) (556) 10,749 38,382 30,632 Total funds 1286 548 1208 778 1250 272 1245 054 30 Jun• 2023 Transfer between funds Asat 1 July 2022 Asat 30 June 2023 Income Expenditure Unrestrlcted fund8'. General fund 723,621 990,205 (1,019,365) (6,000) 688,461 Restrlcted funds: Hlll End Communlty Fund.. Hill End Development Fund Various improvements Shop extension Flat conversion (6,000) 6,000 20,273 80,774 20,273 80,774 44.864 National Lottery Grant Beatrlce Laing Fund." Property improvements Misc Funds (6) 314,145 314,145 30,222 23.622 100,000 (22,823) (38,135) 107,399 45,145 30,632 Total fund8 1237 521 1 135 350 1086 323 1,286,548 -20- t)0￿$￿n Envelope ID.. 58075983-783647F8-8CCD-3E970002E600 EMMAUS HERTFORDSHIRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 17. Analysis of net assets between funds Unrestricted Funds Restricted Funds Total Fund balances as at 30 June 2024 represented by: Tangible assets Current assetsl(Liabilities) 350,594 324,425 675,019 480,278 830,872 414 182 1245,054 570,035 Unrestricted Funds Restrlcted Funds Total Fund balances as at 30 June 2023 represented by". Tangible assets Current assetsl(Liabilities) 347,393 341,068 688 461 480,278 117,809 598,087 827,671 458,877 1,286,548 18. Operatlng lea88 commltments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non