SPARK Registered Charity 1077587 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 March 2024
SPARK Annual Report 31 March 2024 TRUSTEES REPORT REFERERENCE AND ADMINISTRATIVE INFORMATION Registered Charty No. 1077587 Ch8nly contact name Charity contact 8ddr8SS". Charity main 8ddTrss. Charity website". Mr Nick Francis 48 Aberta Close, Kesgrave. Ipswich IP5 1 HS Unit 5 Ropes Drive. Twelve Acre Approh. Kesgrave, Ipswich, IP5 2ET http.IIMvw.kesgrave.org.uklspark Trustees at 31 March 2024 Date Appolntgd 26 February 2013 Date Reslgned Mis Molly Amol Mrs Angela Finch - 18 November 2013 Mrs Judith Francis- 9 April 2018 Mr Nicholas Francis 20 April 2020 Ms Joanne Tillinghast 20 April 2020 Mr Ashley Jordan 7April 2014 Mr Palrick Mills . 20 April 1999 Mrs Tina Shute 8 April 2019 15 April 2024 Mr David Steward." 7 April 2014 Dr Kelth Stewart Young "" 14 October 2011 Mr Chafle3 Howard 10 July 2023 Mr David Kane 10 Juty 2023 ' Reglst8f8d outhorised gnatoneS to act on b8haN ofthe Trusle8s. Cu$todian Tru$t8e Ke8grave To•m CcwJrKyl Professional Advisorn 88nke CAF Bank Ltd. 25 ng5 Hill Avenue, lQ'ngs Hill, Wesl Malling, K1 MEIg 4JQ Saniandw. Brid Rd. Bootle. MerseySKJe, L30 4GB Hampshire Trusl Bank plc. 131 Finsbury Pavement, London, EC2A 1NT M&G Charibe8. PO Box g)38. Chelmsford, CM99 2XF Indeiyendent Examiner. Christm Wade, Hastings Wade. 58-80 St¢Y•AJpland Road, Stowmarkel. IP14 SAL
SPARK Annual Report 31 March 2024 STRUCTURE GOVERNANCE AND MANAGEMENT Governing Document The chanty was set up by constitution on 20 July 1999 and amended in November 1g99. It has subsequentty been amended lo reflect the objectives of the current methods of op8tation,' thi5 was approved by the Iruslees on 2 March 2010 and was approved and incorwrated by the ChaiTty Commission on 9 July 2010. Further minor amendments We approved and incorporaled by the Charity Comm15sion In April 2012 The current conslilubon dated 2 March 2010 incorporates a gonl makn.ng policy. Further minor amendments were agreed by Board of Trustees at their AGM in 2020 rrustee selection The Trustees are elected at the Annu81 General meeb.ng by ballot or show of hands in accordance with the conststub.on (Clause 8}. Should a vacancy occur a rep18cement can be appointed by the executive committee to setve until the next Annual General Meets'ng. Govemance The Charity is managed by the 'Board of Trustees. of SPARK. As charrty trustees they are responsible for complying with legislation applicable to charit. This includes the registration, keeping proper acGounts and making returns lo the Charity Commission as appropriate. The Board of Trustees meets four times a year. Risk and Intemal Control The Iwslees have identified the major risks to whh they believe the ¢hanty is ex[x)Sl. these have been reviewed and systems have been eslablished to miligate againsl th. The main areas of concem that have been identified are.. Reduced income from fund raising. The Charity is reliant upon income trom the 2M Stop shop. The Charty does hold a reserve lo Cover the cost of one year's rent for Ihe shop and fvnds lo cover potentsal redundancy payments to shop staff but if the shop were to close then rent may be due for the remaining lemi of the lease This would leave any remaining reserves to be distnbuted as grants until the reserves were exhausted. If further work were to be undertaken by the charity. then a new incorne sour¢e would need lo be found The chanty has in place systems of internal CctrolS th are deSned lo provide reasonable assurance against material misman3ent or loss.. these include 2 signatories for all payments and BACS payments a Initiated by the TreaSur and authorized by a sOnd trustee and insuranrE policies to ensure that insurable risk5 are ¢overed. OBJECTIVES AND ACTIVITIES Obj8¢ts of the Charity SPARK Is established lo provKle and assist In the proVisn lor sport, amenities, recreation and other leisure lime occupations for the benefit of the inhabitants of the Town of Kesgrave In the interests of social welfare and in order lo improve the quality of life of the said Inhabitants. Grant Making Pollcy Grants are curnI.awaIded to applunts in &cordance wth the policy ld down in the consty'tub'on. Volunteers All the Irvstees are volunteers. The only paid employees of the charity are the shop manager, assistant manager and cleaner who lcd( after the day-to-day running of the shop. The shop is staffed by alarge group of volunteers who all WOTk on a part time unpaid basis. Publlc 8en•flt The charity rneel$ the Charity Commission's public benefit criteria by giving grants to local organisakn.ons and people lo enable them lo pursue their aims and ambrtions. In many cases this enables the people concerned to further their work In the community. ACHIEVEMENTS AND PERFORMANCE SPARK is currently the leaseholder of the Str)p Charity Shop. The lease beeen Spad( and Tesco, reached a Sease renewal at 31 May 2018 and a new lease has been negotiated lor 10 years. The lease is held in the name of three trustees. Patnck Mills. Keith Stewart Young and Molly Amott. All the profrts generated after the operatronal costs of running the shop are to the sole benefit of SPARK and are used to make grants or loans to organisatKTrns and indivKluals within the area of benefit
SPARK Annual Report 31 March 2024 FINANCIAL REVIEW The trustees have adopted the provisions of the Statement of Recommended Practice ISORP)"Accounting arsd Reporting by Chan11es"IFRS1021 in preparing the annual report and financial statements of the charity. The financial statements have been prepared in aCcOrdae wilh the accounting poIleS set out in the notes to the financial statements and comply wilh Ihe charity's governing dccument, the Charities Act 2011 and Accounting and Reporting by Charities. Statement of Rommended Practice applicable lo charities preparing their accounts in accordance with the Financ1 Reports"ng Standard applicable in the UK and R8public of Ireland published in October 2019. Income for the year continues to rise and the charity shop remains the only source of funds. During the year grants were made to several organisations as 01ned in the notes to these accounts. Reserves pollcy The chanty has signfficant cash funds bul there is no specifTC need to keep reserves. as apart from the Stop Shop, the chanty d$ not have any ovetheads or recurring costs. The Shop holds £19,243 in a deposit account as a provision towards one yearfs rent 2nd a proviSn for any potential stsff redundancy. Invostment Selectlon Current interest bearing and investment funds are held by Hampshire Trust Bank and the M&G Charibond. All accounts arè reviewed and discussed regularty. Insur8nco A policy wa$ purchased from ceSS UThJeryrting Trusts8 Indemnity effe¢tive for e1ve months as from 1 June 2013 and is renewed each year. Approved by Chairman Vice- Chairman Oate
SPARK Annual Report 31 March 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Total Tot81 INCOMING RESOURCES 2024 2023 Donations and legacies Donation other trading aclivittes Stop Shop soo 149.654 146.213 Investents Interest 4,965 3,107 Total Income £154,619 £ 149.820 RESOURCES EXPENDED Ralslng funds 2r stop Shop Charitable actlvltles Grants paid Printing Postage & Slationery Advertising & promtson Website & domain Indemnity Insurance Independent Examination Bank charges 66.019 66.256 140,815 48,564 15 109 101 243 125 72 80 243 125 60 Total Expens £ 207,343 £ 115,485 Net lTrcomelldefi¢it} before Investment galnsl{losses) {52.7241 34,335 Gainsl{losses) on investments (7871 12,8031 Not movernent in tunds 153,5111 31,532 Total Funds brought forward 217.253 185,721 Total Funds carrigd forward £ 163,742 £ 217,253 The annexed notes fomi an integral part of these accounts
SPARK Annual Report 31 March 2024 BALANCE SHEET AT 31 MARCH 2024 Total 2024 Total 2023 FIXED ASSETS Shop Assets- Shgds 836 1.036 Invostments M&G Charifund Hampshire Trust Bank12-year bond) 42.282 53,227 43.069 51.106 CURRENT ASSETS Debtor5 VAT ReTrd Shop prepayments Investment5 2IK1 Stop Deposit Account CAF Gold Account Cash at bank and In hand CAF Current Account 2nd Stop Current kGounl 2nd Stop Paypal 2nd Slop Sumup 2nd Stop Cash in Hand Petty Cash 1.901 3.820 975 3,816 19,243 20,168 19.098 1,082 19.159 91,582 4.103 658 460 2,144 365 2.415 Tolal current 488ets 68,157 122,837 Less., Creditors Amounts falling due within one year 1760} {7951 Net current ass•ts 67.397 122.042 TOTAL NET ASSETS £ 163,742 £ 217.253 FUNDS General Fund 116.610 185.608 31.645 2nd Stop Fund 47.132 Tolal Funds £ 163,742 £ 217,253 Approved by TaSUrer Judith Francis Vice- Chairman tewart Young Date )y 202 The annexed notes fom an integral part of these aGcounts
SPARK Annual Report 31 March 2024 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 RCH 2024 Basis of preparatlon Basis ol 8ccounling The charity I1&S a publ efrt entity as defined by FRS 102. The accounts have been prepared in accordance wrth Accounts'ng and Reporting by Charities,. Stalerrerf of ReCnMended Practice appllrable to charities rxeparing their a¢wJnts in accolda with the Financial Reporting Standard apphcable in the UK and Republ of Irdand IFRS1021 Issued in Odober 2019. the Financial Reporting StarKlard apphcable in the Unrted bQ"ngdom ar R8public of Ireland {FRS102}, the Charit$ Act 2011 and VK General Accepted AttoL)ts"ng Practsce. The finalla1 statements have been prepared to 9fv8 8'tnJe and tslrvi8vl and have departed from the Charstyes IA£counts and Reports) Re9ulats"ons 2008 Only lo the extent required lo provide 8'true arnl fairf vwi The departure has involved following the AccounbTrJ and Reporb"r3 by Charities." Ststement ol RecoMffnded Practice applicable to charrties prepanng annual accounts In accordance wth the Financial ReportiTrJ StaTrJaid and applicable in the UK 8nd Republic of Ireland IFRS1021 issued In October 2019 rather than the Accounbng and Reptsrb"ng by Chant$.. Statement of Recommended Practice effectivè from l Awl 2CK)5 whh has been withdrawn. Th8 finanaal slatemenls are ryepared on a gryng nCM basis under the hislorical cost conventK)n The financial statements are presented In sterfing which is the lynclbonal CUfierKy of Ihe charity and icMJnded to the neaiesl pound. Changa In Basls The slgnfflcanl ac£ounttng pOIr ¥ppli9d in tha praparation of these statements are set (t below These policies have bew ¢onsi$tèntty appliod lo all year8 prèsenlecl unless otherwise slaled..
SPARK Annual Report 31 March 2024 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles Rtcognith?n of incorne This is induded in the acownts the chanty re¢eNes the sOurceS Offsett9 There has been no offsetting of asseis aThJ liabnitss. or incom and expenses, unlèss uired or permitted by the FRS 102 SORP or FRS 102. Grant5 and (lornatIo raeeive Grants and donations are onty induded as ineomtrwhen rerived VAT VAT reclaimable is recogniwd a$11 ares Donated goods l)onaled goTrJs for resakn are included in thè a¢Unts when sold by the charity. Don818d $8r¥ice$ arKI FacilitS Voluntsgr h¢lp The wal piiced on ihese resources is not Indud&J in the accounts The value of any ¥c4untary help rec8ived * not indud•J In the a¢LOt$ Inv•stmont in¢om This is induded in the accounts when receipl is probabltr and Ihe amount CeiVable can be rraSUre reliabty. Investment galns and Ioss88 Thls Indudes any reallsed or unreallsed u8ln6 oi losses on the sale of investments and y gain or bss resulting frcrfn revaluirrfJ invstments lo market value at the end of the ar. Support Costs T Charity has incJJfrad M)end6fvre on $upport CO81$ Grgnts Pd Gr8nts p8Fd 8rn onty IndUd in Iht •0nIS vrt applications have been received approv8d by the Iru$lees and funds Iransfefred lo the applicant, Llability regni11 Liatslth"e$ ar rncognis•d where it is more likety Ihan not thai there is a legal or congtructive obligation commthing th¢ ¢hanty to pay oul resourceB and the arynI of thè olgatIOn can bè mèasured rèasonab certainty. Creditors The tharty hai c¥editoTr whKh are measur&J at setdgmnl 4mounts10$6 any tradg tscounts PTovislons for118billtse$ All81 1$ measured on reg)gnitn at its h¢storical cost and then subsequentty mèasurèd at ttiè t4$1 eslimate of the afflount reqiiifed lo seioe the obligation at th8 reporting date T?ngibl? fjxed ?$8et5 for u8e These are camalised rf they can be used for MO than one year and eo$t moTe than by charrty £500 They are valued at cost or a reasonabl• valuè on Ter£ipt. The depreciation rates aro giv¢n in wpropnate note. Inv1nts InveStentS held frjf ale or pending their sale cash 8nd cash equiv?nts with rnaluirty date of less Ihan 1 year are ireaied as current asset inveslments Current asset investments The charty has investrnents which rt hold5 for resale or ndIng their $81e and cash and cash equNalents wrth a malunty date less than one year. These in¢lude ¢8sh on deposit and c8sh equivalents wrth a matunty ¢Jale of less than one year held for inveslfflent PLtrp05es lather Ihan to meet short term commitments as they fall due.
SPARK Annual Report 31 March 2024 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCM 2024 Funds generated by Stop Shop 2024 2023 Shop Sales Interest on shop funds 149,654 152 146,213 22 Totsl Income Less". Shop Mark8gement Premises Administratson 149,8C 146,235 138.1881 122,3501 15,4811 134,4831 127,3221 14,4511 Total expenses 166,019) 166.2561 Net surplus Transfef lo SPARK accounts Shop funds at 1 April 83,787 168,300) 31,S45 79,979 {80.273) 31,939 Shop funds at 31 March £47,132 £ 31,645 Faes for examlning the accounts 2024 2023 ndependent examinor5 fees 150 150 £150 £150 5 Staff Costs 2024 2023 Gross wages Employer Pension Costs Employers National Insurance 39,176 705 35.799 624 £ 39.881 £ 36,423 Average number of full bme equivalent empbyees Managing the shop There is a NEST pension scheme opèrated by the charity, No employees received employee benefits for the reporkn'ng peritsj of more than £60,000.
SPARK Annual Report 31 March 2024 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Gr8nt maklng 2024 2023 Heath Primary School- Pky equipment & Matt5ng Que6n's JUlee TreelOutd(xYL8aming Pmi8Ct Kesgrave High School - Sports Hall Floor pair Resurface floodlrt Sports Area East Anglian School Trust IKHSI - U18 F(x)tb811 & Key Slage 4 Netball kit Kesgrave High School- Materials for fundraising for Exp8d1tn Kesgrave Baplist Church - Awning Kesgrav8 Kestrels - fc(stball equipment & dug out seats U14 Kil and training U11 Girls coaching course and kit Kesgrave Krutsers- expenses for Alan Brown Memorial Run ced8d S¢h¢)ol- Coronation - Natureark - Leaming outSAd& the classroom - Queen's Jubilee 8onch Kesgrave Library - Toys & Rug for Slay & Play Chairs & storage boxes All Saints Church - Church Hall roof and car park Addrtional car parking costs of edging and ment Eleclri¢ rewire of Church Hall BrLX%n Tree Youth Café running costs (refund8d) Kesgrave Music Festival - SK Fun Run & Easter Egg Hunt funding Kesgrave Friendship Club- Christmas Lunch Cornpuler Club - Hall Hire KWMCC- Hol wal8r lank foT showers Bandstand repairs AFC Kesgrave- Ladies Football Kil under 18- Tr8ining Krt & fees Humpty Dumpty Playgroup- Coronat Childrens pnic table Special needs pushchair Mobile book storage unit Kesgrav¢ Singers- audio equipment Come & Play - play equipment Three Bears Playgroup - CorOnatn bench Witnesham Wasps- First Aid Kit Kesgrave Town Council - Fun day ride hire 2021n2 - Fun day nde 2023 - Christmas Celebrations 2023 - R8surfaGing Play Area . Shed for Am7y Cadet slotsge Kesgrave Parachute Reg Amiy Cadet Force- Training AS Kesgrave Allotment and Leisure Gardening Associab"on Ltd - Communal Shed Girlguiding Heathlands Division - L98derfeMbets membership fees Ipswich Walking F¢Jolball Club- wateof Jackets Kesgrave Library Community Group- p1aCIng LNteracy & Numeracy Games Forgel-mtrNot Café- Craft ma1fjri81sJHire ofBowls Pavilion Kesgrave Tennis Club- New Logo Bannels 38.002 450 34,840 29,164 1.242 200 9,734 6,032 300 123 4,750 667 13.052 859 450 400 4,495 1,980 3.000 11,2001 1.100 750 700 1.550 500 750 1,000 1.000 895 1,615 200 263 340 300 250 200 1,728 5.265 4.277 8,750 1,385 3.090 2.200 1.490 514 250 250 197 £ 140.815 £ 48,564
SPARK Annual Report 31 March 2024 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 xedAssets Sheds Total Cost At 1 April 2023 Additions 2,690 2,690 Al 31 March 2024 £ 2,690 £ 2,690 Depreciatson At 1 April 2023 Depreciation for year (25%) 1.654 200 1,654 200 Al 31 March 2024 £ 1,854 £ 1,854 At 31 March 2024 £836 £836 At 31 March 2023 £ 1,036 £ 1,036 Depreciation has been char9ed on the fixed assets al 25% Islraighl Line), but was overprovided in 2023 Iherefofe a reduction lo correct this by £236 has been Included this year FITxed Asset Investments M&G Charifund Hampshlr8 rrust 2024 Al 1 April 2023 Addition during the year Disposal during the year GainllLos$l on revaluatn 43,069 51,1C6 53,227 151,1C61 94,175 53,227 151,1061 17871 (7871 £ 42.282 £ 53,227 £ 95.S09 Historical cost £ 98.227 Market value at year end Reprnsented by". GainllLossl for year M&G Chanfund Hampshlre Trust 42,282 53,227 {7871 £95509 £17871 Croditor5 and accruals 2024 2023 Trade Creditors Accruals 608 152 311 £760 £795
SPARK Annual Report 31 March 2024 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 10 Trustees and other relatedpartl•s 2024 2023 Reimbursement of amounts paid on behalf of the chanty N Francis £108 There were no related party transaCtn$. 11 Capltal C(vnmltments There were no capital commitments at 31 March 2024 or 31 March 2023 io
SPARK Annual Report 31 March 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SPARK I report to the Board of Trustees on my exarnination of the accounts of SPARK for the year ended 31 March 2024. Responsibilhles and basis of report As the trustees of the charity you are responsib for the preparab'on of the accounts in accordance with the requirements of the Charities Act I'The Act 2011.1 I report in respect of my examinalion of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 1451Sllb) of the Act. Independont oxaminerf8 Statemont I have completed my examination. I confimi thal no material matters have com8 lo my attonlion in connection wrth the examinabon gNing me cause to believe that in any material respect.. 1 Accounting records We not kept in respect of the charity a$ required by sectson 130 of the A¢t', or 2. The accounts do not a¢¢ord with those records.. Of 3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitres (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. whi¢h Is not a matter considered as part of an Independent examinabon I have no con¢em$ and have come acrosg no other matters in connecth)n wrth the examination to which attentson shoul(J be drawn in this report in order to enable a proper understanding of the accounts to be reached Signed.. Name Christine Wade, HaslingsW* Chartered Certffied Accountsnts - Registered Auditors Qualifi¢8tion Addre$$'. 58-60 Slowupland Road Slowmarkel Suffolk IP14 SAL Date.