**Registered number: 03924340 Charity number: 1083113**
## **EMMAUS TURVEY**
**(A company limited by guarantee)**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 JUNE 2023**
## **EMMAUS TURVEY (A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1 - 2|
|**Chairman's statement**|3|
|**Trustees' report**|4 - 9|
|**Independent auditors' report on the financial statements**|10 - 13|
|**Statement of financial activities**|14|
|**Balance sheet**|15|
|**Statement of cash flows**|16|
|**Notes to the financial statements**|17 - 30|
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2023**
|**Trustees**|Lucia J Smith (resigned 28 February 2023)|
|---|---|
||Dean S Bourke|
||Ian F Kavanagh|
||Lucy Dryburgh (resigned 6 February 2023)|
||Simon D Botterill (appointed 26 July 2022)|
||Trevor M Goodman (resigned 31 December 2022)|
||Ian D Henderson (appointed 27 September 2022)|
||Dominique S Edell (appointed 27 September 2022)|
||Emily Willis (appointed 27 September 2022)|
||Frances E Parry (appointed 28 March 2023)|
||Jeremy F Reynolds (appointed 28 March 2023)|
|**Company registered**
**number**
03924340
**Charity registered**
**number**
1083113
**Registered office**
Emmaus Village Carlton
School Lane Carlton
Bedford
MK43 7LQ
**Company secretary**
Roger D Wansbrough
**Chair**
Jeremy F Reynolds (appointed 28 March 2023)
Lucia J Smith (resigned as Chair on 27 September 2022)
Dean S Bourke and Lucy Dryburgh alternated as chair up to 28 March 2023
**Independent auditors**
MHA
Chartered Accountants
Statutory Auditors
Moorgate House
201 Silbury Boulevard
Milton Keynes
Buckinghamshire
MK9 1LZ||
Page 1
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023**
|**Bankers**|Barclays Bank plc|
|---|---|
||111 High Street|
||Bedford|
||MK40 1NJ|
||CAF Bank Limited|
||Kings Hill|
||West Mallings|
||ME19 4TA|
||The Charity Bank Limited|
||Fosse House|
||182 High Street|
||Tonbridge|
||TN9 1BE|
|**Treasurer**|Simon D Botterill (appointed 26 July 2022)|
|**Patrons**|The Rt. Rev. Richard Atkinson OBE - Bishop of Bedford|
||The Rt. Rev. David Oakley - Bishop of Northampton|
|**Key management**|Rob Avann (Chief Executive Officer) (resigned 25 December 2022)|
||Andrew Stanley (Finance and IT Manager)|
||Rebecca Bateman (Support Manager)|
||Lynn Reeves (Operations Manager)|
||Angela Foll (Chief Executive Officer) (retired 31 July 2022)|
||Nick Samuels (Interim Chief Executive Officer until 7 September 2023)|
|**Registered Company**|Emmaus Turvey|
|**Registered Charity**|Emmaus Turvey operating as Emmaus Village Carlton|
Page 2
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2023**
At Emmaus Village Carlton, we have a relentless focus on achieving the right outcomes for our Companions, enabling them to regain their self-respect and independence within a supportive community.
Following a decline in their numbers during the pandemic, we are now seeing more coming to join our community. We expect this trend to continue over the coming year.
To make this possible we need to have a thriving social enterprise. As you will see from this report, our shops and bistro remain hugely popular and our loyal customers play a huge part in making our work sustainable. Their support is very much appreciated.
The year has not been without challenges, not least the lack of a permanent CEO. We owe a huge vote of thanks to all of our Companions, staff, volunteers and trustees for ensuring that the organisation has continued to thrive. The work that they have undertaken over the past year has been truly inspiring. We now look forward to welcoming Donna-Louise Cobban as our CEO towards the end of 2023.
Finally, I must pay tribute to my predecessor as Chair of Trustees, Lucia Smith. Lucia has played a pivotal role in Emmaus Village Carlton for many years, overseeing its growth and development into the wonderful organisation we see today. Particular thanks are also due to Lucy Dryburgh and Dean Bourke, for their time as co-Chairs after Lucia’s departure: their dedication and skills are a testament to the depth of talent we have here at EVC.
Lucia, Lucy and Dean will be very hard to follow, but I’m confident that the coming year will see us go from strength to strength and that our focus on our Companions will be stronger than ever.
Jeremy F Reynolds Chairman Date:
Page 3
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2023**
The Trustees, who are also the Directors of the Charity for the purposes of the Companies Act, present their annual report together with the audited financial statements of the Company for the year ended 30 June 2023. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Company is a Charity which is known as Emmaus Village Carlton. The Company has continued to provide support to poor and homeless people in accordance with the objectives set out in its Memorandum & Articles.
## **Structure, governance and management**
## **a. Governing Document**
Emmaus Turvey (the Company) is a company limited by guarantee governed by its memorandum and articles of association dated 29 September 1999 as amended on 28 June 2001 and 11 May 2015. The Company was incorporated on 11 February 2000 and has been registered as a charity with the Charity Commission since 9 November 2000, being affiliated to Emmaus UK.
## **b. Appointment of Trustees**
The Articles of Association for Emmaus Village Carlton are based on the Emmaus UK model and have been registered with Companies House and the Charity Commission. They require that there should be a minimum of five Trustees and that Trustees should serve no more than nine continuous years. Trustees who have served nine continuous years shall not be eligible for re-appointment for the following twelve months.
The Board regularly reviews trustee skills and experience considering: the objectives of the charity; the strategic goals; diversity; and other emerging issues.
## **c. Trustee induction and training**
New Trustees receive information on the Emmaus movement and attend an induction day to brief them on the mission, objectives, business and management structure of the charity.
During the induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **d. Organisational structure and decision-making policies**
Emmaus Village Carlton is administered by a Board of Trustees, plus a company secretary, who meet every two months. Trustees are also Directors of Emmaus Turvey. There are three sub-committees of the Board which are responsible for Finance, IT & Risk, Companion Support and Human Resources.
Page 4
**(A company limited by guarantee)**
## **EMMAUS TURVEY**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023**
## **Structure, governance and management (continued)**
## **e. Related parties**
The Charity is an autonomous body within the Emmaus movement, it maintains a close relationship with Emmaus UK and other communities and groups, in order to facilitate the achievement of its objectives.
The Charity also maintains a relationship with the Carlton Educational Trust (CET), a charity from which it leases the land and premises for the Carlton community.
## **f. Risk assessment**
The operation of the Charity is subject to a number of risks.
The Trustees are of the opinion that these risks are under regular review as part of both formal and informal management activities. Where appropriate, processes are in place to monitor and mitigate such risks. As part of that process the risk register is reviewed and updated on a regular basis. These risks include:
• **Low Companion Numbers:** The operation of the community is dependent upon having a sufficient number of companions. Whilst low demand for companion places is intrinsically a good thing for society, low numbers of companions puts pressure on the community. Referrals have recently been at low levels. This in turn has put the companion and staff community under pressure. To mitigate this, the management is actively seeking to obtain more referrals whilst at the same time ensuring that new recruits are suitable for the community.
• **Safeguarding:** The mission of the charity involves working with, and for, its companions who are potentially vulnerable adults and for whom the charity has a significant welfare responsibility. The charity takes this risk very seriously and there is regular training on safeguarding and professional boundaries. Safeguarding and whistleblowing policies are in place and there is a trustee Support Group as well as a Companion Welfare subgroup. DBS checks are caried out for all staff, volunteers, and trustees.
• **Revenue not covering expenditure:** Although the community has generated cash on a consistent basis, financial stress is a potential risk. The current inflationary environment is increasing costs in many areas including fuel costs. The impact of the costs of living crisis also impacts on our customers and this may reduce their ability to purchase from our stores. However, it is also possible that more customers will be attracted by the low cost of our high quality goods. This financial risk is mitigated through employment of a professional, welltrained and resourced staff team, adopting conservative financial policies and robust business planning with appropriate operational policies (including a Business Continuity Plan).
Page 5
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023**
## **Objectives and activities**
## **a. Delivering public benefit**
The objectives of the Charity are the relief of poverty, hardship and distress by providing (or assisting in providing) accommodation for poor and homeless people in Bedfordshire, Buckinghamshire and Northamptonshire, together with education and training to develop employment skills. The charity operates in accordance with the principles of the Emmaus Movement which includes helping other Emmaus Communities and agencies supporting homeless or marginalised people.
The principal aim of Emmaus Village Carlton is to provide support to people who are either homeless or who face serious adversity, through the operation of a community run in accordance with the principles of the Emmaus Movement. This is a unique and holistic approach to assisting people, where we welcome them, as companions, into a community which cares about them as individuals and provide them with accommodation and opportunities to develop their skills and self-confidence. This ultimately helps them on their journey back to independent living, if they so wish.
## **b. Who uses and benefits from our services?**
Our accommodation houses up to 42 Companions with an additional two "move-on" flats for Companions who have obtained employment outside the community but are not yet able or ready to access the housing market. Access to our services is by self-referral, or by referral from local agencies or other Emmaus communities. It is also dependent on an individual's personal commitment to seeking help and adhering, to the best of their ability, to the principles of the Emmaus movement.
The sale of recycled furniture, household and electrical goods, books and clothes, and the sale of food and drink from the Bistro, provides the majority of EVC's income. Under the guidance of employed staff members, Companions assist in running these trading activities together with, on average, some 50 volunteers. The impact of our work goes beyond those we help directly.
## **c. Provision for our Companions**
Each of our Companions has a single room and most of them have en-suite facilities. Other facilities provided include a large kitchen and dining room, snack bars, laundries, an IT suite, a communal lounge, a games room, a gym and playing fields all of which are for used by Companions.
On arrival, Companions receive training for the work they do within the social enterprise. As they settle within the community and show their commitment, they are supported in gaining additional skills and, where requested, this may include training through colleges or other providers. We also provide training courses and workshops to support mental health and well-being. Companions have direct support from staff members to help them with their personal development and welfare. They are expected to attend support meetings both at EVC and, where appropriate, with relevant external providers of health care, counselling and life coaching.
## **d. Outreach and assistance to others**
We support other local causes and local charities with similar objectives to our own. Our Companions take the lead in many of these initiatives which fall under the title of “solidarity” which is a central part of the Emmaus ethos. Over the last few years this has included the provision of food, hot drinks and other supplies (clothing etc.) to the homeless in Bedford, Northampton and Wellingborough.
Page 6
**(A company limited by guarantee)**
## **EMMAUS TURVEY**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023**
## **Objectives and activities (continued)**
## **e. Statement of compliance with Charities Commission guidance**
The Trustees have given due regard to the Charities Commission guidance on public benefit and confirm that, in their opinion, the charity's objectives and activities comply with this guidance.
## **Achievements and performance**
## **a. Review of the year's activities**
Most of our activities relate to generating income to support the community and maintain and develop its infrastructure. Our retail offerings include em’s Bistro, Bric-a-brac, Boutique and Furniture, which include produce from our gardening, upcycling and recycling activities. We are pleased that we have continued to generate funds enabling us to invest in the community, to enhance the opportunities presented to Companions and to extend help to others who face adversity.
## **b. Companion training**
Our recycling activities also provide an important training opportunity for Companions. A number have developed skills in fork-lift driving, enabling them to obtain a formal qualification that allows them to contribute to the smooth running of the community's activities, and can help them to secure employment outside the community that will support them living independently. Other qualifications achieved during the year included food safety, food hygiene, health & safety, fire safety, PAT testing and barista training.
## **c. Employees**
The Chief Executive Officer, Operations Manager, Finance & IT Manager and Support Manager, make up the senior management team to run the community, each having a number of direct reports to complement the operation. During the year the average employed payroll amounted to 21 members of staff (19 full time equivalent). This team drives the day to day operations, supports the Companions and develops the potential for future growth within the community.
The Trustees would like to take this opportunity to thank each member of staff for their work and commitment and formally record their gratitude. They fully appreciate the important work that the staff do and recognise that much of the most valuable work of supporting the community is performed behind the scenes.
## **d. Volunteers**
The functioning of the community is also highly dependent upon a team of volunteers. They donate their time and show their support to the community in many ways including: counselling; teaching English for Speakers of Other Languages (ESOL); reading and writing; sorting goods for resale and recycling; van driving; working in the garden; assisting in our retail offerings; performing administration tasks; and many other responsibilities. We hold regular functions and meetings for our volunteers to ensure they have a real voice and stake in the running and development of the community, and we make places available for them on our training courses.
The Trustees are extremely grateful to each and every volunteer and recognise that they are a vital part of the unique atmosphere at EVC which is fundamental to the community's success. The community could not survive without their support and specialist skills.
Page 7
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023**
## **Financial review**
## **a. Outcome for the year**
Over recent years there has been a gradual recovery from the adverse financial impact of Covid-19 and this year activity has exceeded pre-pandemic levels, with total income 9% above 2019 levels. The charity recorded a surplus for the year to 30 June 2023 of £98,152 compared to a deficit of £51,327 for the year to June 2022.
The outcome for the year includes a charge for depreciation. The trustees focus primarily on the Charity's cash flow and the effect this is having on reserves. The Charity’s cash position increased by £173,655 during the year (compared to a reduction in cash of £44,626 for the year to June 2022. At 30 June 2023 the charity held cash and cash equivalents of £657,560. The statement of cash flows is included on page 16.
## **b. Reserves**
The Charity has considerable fixed operating costs. The trustees' policy is to seek to maintain a minimum level of reserves, in cash, equivalent to three months' revenue expenditure; this equates to £380,000 based on the budget for the year to 30 June 2024. At 30 June 2023, total unrestricted funds were £771,546 of which £657,560 was held in cash or cash equivalents.
## **c. Financial controls**
Various financial controls and regular financial reporting procedures have been put into place. A budget is prepared annually and approved by the Trustees. Financial performance, Balance Sheet strength and liquidity are reviewed monthly, against budget, by the Finance, IT & Risk committee to ensure that the community has robust and effective financial management.
## **d. Investment policy**
The Charity's reserves are held in cash and deposited in interest bearing accounts with our banks. The Directors do not utilise any other financial investments.
## **e. Plans for future periods**
The strategy and operational model will be reviewed during the coming year and particular consideration will be given as to how best to increase Companion numbers.
In addition to the maintenance work already undertaken, an audit of the site infrastructure will be undertaken with the intention of establishing a preventative maintenance plan to better inform future priorities.
Page 8
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
## **Auditors**
The auditors, MHA, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Following a rebranding exercise on 15 May 2023 the trading name of the company’s independent auditor changed from MHA MacIntyre Hudson to MHA. A resolution to reappoint MHA as independent auditor will be proposed at the next Annual General Meeting.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Jeremy F Reynolds** (Chair of Trustees)
Date:
Page 9
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMMAUS TURVEY**
## **Opinion**
We have audited the financial statements of Emmaus Turvey (the 'charitable company') for the year ended 30 June 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 30 June 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 10
**EMMAUS TURVEY (A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMMAUS TURVEY (CONTINUED)**
## **Other information**
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
Page 11
**EMMAUS TURVEY**
**(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMMAUS TURVEY (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the 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 Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditors' responsibilities for the audit of the financial statements**
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 Auditors' 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 misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
* Audit work performed over key risk areas such as management override and reviewing accounting estimates for bias.
- Further review of financial statements disclosures to ensure accounting policies have been correctly followed.
- Reviewing minutes of meetings of those charged with governance;
- Enquiry of management and those charged with governance around any legal claim.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 12
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMMAUS TURVEY (CONTINUED)**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Elizabeth Newell BA (Hons) FCA (Senior statutory auditor)**
for and on behalf of
**MHA** Chartered Accountants Statutory Auditors Milton Keynes, United Kingdom
Date:
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)
Page 13
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2023**
|**Note**
**Income from:**
Grants and donations
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
7
Other expenditure
9
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
17
Net movement in funds
17
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**162,669**
**1,384,343**
**7,431**
**1,554,443**
**1,447,150**
**9,141**
**1,456,291**
**98,152**
**673,394**
**98,152**
**771,546**|**Total**
**funds**
**2023**
**£**
**162,669**
**1,384,343**
**7,431**
**1,554,443**
**1,447,150**
**9,141**
**1,456,291**
**98,152**
**673,394**
**98,152**
**771,546**|Total
funds
2022
£
75,097
1,208,296
2,538
1,285,931
1,319,817
17,441
1,337,258
(51,327)
724,721
(51,327)
673,394|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 17 to 30 form part of these financial statements.
Page 14
## **EMMAUS TURVEY (A company limited by guarantee) REGISTERED NUMBER: 03924340**
## **BALANCE SHEET AS AT 30 JUNE 2023**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Stocks
13
Debtors
14
Cash at bank and in hand
26
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted funds
17
**Total funds**|**10,734**
**110,520**
**657,560**
**778,814**
**(137,214)**|**2023**
**£**
**129,946**
**129,946**
**641,600**
**771,546**
**-**
**771,546**
**771,546**|11,144
77,715
483,905
572,764
(114,436)|2022
£
215,066|
|---|---|---|---|---|
|||||215,066
458,328|
|||||673,394|
|||||-
673,394|
|||||673,394|
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Jeremy F Reynolds** (Chair of Trustees) Date:
The notes on pages 17 to 30 form part of these financial statements.
Page 15
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023**
|**Note**
**Cash flows from operating activities**
Net cash used in operating activities
25
**Cash flows from investing activities**
Dividends, interests and rents from investments
5
**Net cash provided by investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
26
The notes on pages 17 to 30 form part of these financial statements|**2023**
**£**
**166,224**
**7,431**
**7,431**
**-**
**173,655**
**483,905**
**657,560**|2022
£
(47,164)
2,538
**2,538**
**-**
**(44,626)**
528,531
483,905|
|---|---|---|
Page 16
**EMMAUS TURVEY (A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **1. General information**
Emmaus Turvey is a private company limited by guarantee incorporated in England and Wales. The registered office is Emmaus Village, School Lane, Carlton, Bedford, MK43 7LQ.
Figures in the financial statements and the notes have been rounded to the nearest whole number in GBP.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Emmaus Turvey meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. These include significant reserves and a strong cash position. In making this assessment, the Trustees have reviewed the trading and cash flow forecasts of the Charity and concluded that based on the forecast results, the mitigating actions that can be taken to control costs and the ability of the Charity to borrow or fund raise for additional funds, that the Charity has adequate resources to continue in operational existence for the foreseeable future.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performancerelated conditions, there is not unconditional entitlement to the income, its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. All other income is recognised on an accruals basis.
Page 17
**EMMAUS TURVEY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive 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 on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
## **2.5 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
|Building improvements|- 3 - 10 years|
|---|---|
|Plant and machinery|- 20% straight line (50% straight line for assets|
||purchased prior to 1 June 2021)|
|Motor vehicles|- 20% straight line (50% straight line for assets|
||purchased prior to 1 June 2021)|
|Fixtures and fittings|- 20% straight line (50% straight line for assets|
||purchased prior to 1 June 2021)|
|Computer equipment|- 25% straight line (50% straight line for assets|
||purchased prior to 1 June 2021)|
## **2.7 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.8 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 18
**EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **2. Accounting policies (continued)**
## **2.9 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account.
## **2.10 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.11 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.12 VAT**
The Company's VAT year end is 31 March and the organisation operates partial exemption procedures in respect of VAT.
## **2.13 Operating leases**
Costs in respect of operating leases are charged on a straight line basis over the lease term.
## **2.14 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
## **2.15 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 19
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **3. Income from grants and donations**
|**Unrestricted**
**funds**
**2023**
**£**
Donations
132,808
Grants
29,861
162,669
Unrestricted
funds
2022
£
Donations
61,273
Grants
13,824
75,097|**Total**
**funds**
**2023**
**£**
**132,808**
**29,861**
**162,669**|
|---|---|
||Total
funds
2022
£
61,273
13,824
75,097|
Grant income of £29,861 (2022: £13,824) from the Renewable Heat Incentive scheme.
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2023**
**£**
Sale of donated / recycled goods
799,087
Bistro
232,603
Other sales
106,365
Rent from Companions
246,288
1,384,343|**Total**
**funds**
**2023**
**£**
**799,087**
**232,603**
**106,365**
**246,288**
**1,384,343**|
|---|---|
Page 20
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **4. Income from charitable activities (continued)**
|Sale of donated / recycled goods
Bistro
Other sales
Rent from Companions|Unrestricted
funds
2022
£
693,140
193,132
68,613
253,411
1,208,296|Total
funds
2022
£
693,140
193,132
68,613
253,411
1,208,296|
|---|---|---|
## **5. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Bank interest
7,431
Unrestricted
funds
2022
£
Bank interest
2,538|**Total**
**funds**
**2023**
**£**
**7,431**|
|---|---|
||Total
funds
2022
£
2,538|
## **6. Costs of Generating Voluntary Income**
Costs of £Nil (2022: £1,750) were incurred primarily in running the fund raising office.
The Charity has benefited significantly from the considerable input by volunteers and Trustees. It has also received a great deal of support from the fundraising team at Emmaus UK and would like to thank everyone concerned for their support.
Page 21
**EMMAUS TURVEY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2023**
**£**
Repairs and maintenance
77,842
Retails & workshop supplies / services
184,672
Community costs
92,979
Companion's allowances
88,116
Volunteer costs
12,855
Food
71,219
Employment
621,278
Staff recruitment
18,050
Premises (insurance & council tax)
69,014
Depreciation
99,751
Utilities & telecoms
61,646
Transport
40,569
Bank charges and loan interest
9,159
1,447,150|**Total**
**2023**
**£**
**77,842**
**184,672**
**92,979**
**88,116**
**12,855**
**71,219**
**621,278**
**18,050**
**69,014**
**99,751**
**61,646**
**40,569**
**9,159**
**1,447,150**|
|---|---|
Page 22
**EMMAUS TURVEY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **7. Analysis of expenditure on charitable activities (continued)**
## **Summary by fund type (continued)**
|Repairs and maintenance
Retails & workshop supplies / services
Community costs
Companion's allowances
General expenses
Food
Employment
Staff Recruitment
Premises (insurance & council tax)
Depreciation
Utilities & telecoms
Transport
Bank service charge|Unrestricted
funds
2022
£
52,673
156,190
59,657
96,021
6,377
48,656
552,712
12,013
63,497
155,331
66,932
38,406
11,352
1,319,817|Total
2022
£
52,673
156,190
59,657
96,021
6,377
48,656
552,712
12,013
63,497
155,331
66,932
38,406
11,352
1,319,817|
|---|---|---|
## **8. Repairs and Maintenance**
A sum of £77,842 (2022: £52,673) was expended on repairs and maintenance during the year.
During the year, work continued to maintain and upgrade the site.
## **9. Other expenditure**
|**Unrestricted**
**funds**
**2023**
**£**
Audit
6,603
Accountancy
815
Trustees indemnity insurance
1,723
9,141|**Total**
**funds**
**2023**
**£**
**6,603**
**815**
**1,723**
**9,141**|
|---|---|
Page 23
**EMMAUS TURVEY**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **9. Other expenditure (continued)**
|Audit
Accountancy
Trustees indemnity insurance|Unrestricted
funds
2022
£
13,138
2,580
1,723
17,441|Total
funds
2022
£
13,138
2,580
1,723
17,441|
|---|---|---|
The amount of £1,723 (2022: £1,723) relates to the cost of a Managment Liability insurance policy that covers a range of different insurance policies including Trustees' Indemnity insurance.
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2023**
**£**
**554,977**
**44,310**
**21,991**
**621,278**|2022
£
487,577
43,274
21,861|
|---|---|---|
|||552,712|
The average number of full time equivalent persons employed by the Company during the year was as follows:
|**2023**
**No.**
Employees
**19**
No employee received remuneration amounting to more than £60,000 in either year.|2022
No.
21|
|---|---|
|||
At the end of the period the Charity employed thirteen full-time and ten part-time employees. The Charity operates a defined contribution scheme for the benefit of its employees. Contributions payable are included in resources expended in the year they are payable.
During the year, key management personnel of the charity received remuneration, including gross salary, employers’ national insurance and pension contributions amounted to £151,876 (2022: £172,376). Key management personnel includes the Chief Executive Officer, Finance and IT Manager, Support Manager and Operations Manager.
Page 24
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 30 June 2023, no Trustee expenses have been incurred (2022 - £NIL).
## **12. Tangible fixed assets**
|**Cost**
At 1 July 2022
Additions
Disposals
At 30 June 2023
**Depreciation**
At 1 July 2022
Charge for the year
On disposals
At 30 June 2023
**Net book value**
At 30 June 2023
At 30 June 2022|**Building**
**improvements**
**£**
**1,433,937**
**-**
**-**
**1,433,937**
**1,247,239**
**82,594**
**-**
**1,329,833**
**104,104**
186,698|**Plant and**
**machinery**
**£**
**52,026**
**-**
**-**
**52,026**
**45,230**
**2,540**
**-**
**47,770**
**4,256**
6,796|**Motor**
**vehicles**
**£**
**26,838**
**7,500**
**(24,088)**
**10,250**
**25,920**
**2,167**
**(24,088)**
**3,999**
**6,251**
918|**Fixtures**
**and**
**fittings**
**£**
**65,399**
**5,000**
**-**
**70,399**
**55,247**
**5,157**
**-**
**60,404**
**9,995**
10,152|**Computer**
**equipment**
**£**
**71,199**
**2,131**
**-**
**73,330**
**60,697**
**7,293**
**-**
**67,990**
**5,340**
10,502|**Total**
**£**
**1,649,399**
**14,631**
**(24,088)**
**1,639,942**
**1,434,333**
**99,751**
**(24,088)**
**1,509,996**
**129,946**
215,066|
|---|---|---|---|---|---|---|
The Charity has a 50-year lease on the site at Carlton with annual rent of £1 per annum. On the basis that the terms of the lease do not transfer ownership of the site to Emmaus Turvey, the property has not been capitalised.
Page 25
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **13. Stocks**
|Finished goods and goods for resale
**14.**
**Debtors**
**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income
**15.**
**Creditors: Amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
**16.**
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**2023**
**£**
**10,734**
**2023**
**£**
**2,920**
**14,331**
**93,269**
**110,520**
**2023**
**£**
**47,685**
**10,416**
**2,943**
**76,170**
**137,214**
**2023**
**£**
**657,560**|2022
£
11,144|
|---|---|---|
|||2022
£
1,589
-
76,126|
|||77,715|
|||2022
£
37,631
11,917
122
64,766|
|||114,436|
|||2022
£
483,905|
Page 26
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **17. Summary of funds**
## **Summary of funds - current year**
|General funds
General funds|**Balance at 1**
**July 2022**
**£**
**673,394**
Balance at
1 July 2021
£
724,721|**Income**
**£**
**1,554,443**
Income
£
1,285,931|**Expenditure**
**£**
**(1,456,291)**
Expenditure
£
(1,337,258)|**Balance at**
**30 June**
**2023**
**£**
**771,546**|
|---|---|---|---|---|
|||||Balance at
30 June
2022
£
673,394|
## **18. Analysis of net assets between funds Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Tangible fixed assets
129,946
Current assets
778,814
Creditors due within one year
(137,214)
**Total**
771,546|**Total**
**funds**
**2023**
**£**
**129,946**
**778,814**
**(137,214)**
**771,546**|
|---|---|
Page 27
**(A company limited by guarantee)**
## **EMMAUS TURVEY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **18. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2022
£
215,066
572,764
(114,436)
673,394|Total
funds
2022
£
215,066
572,764
(114,436)
673,394|
|---|---|---|
## **19. Capital commitments**
At 30 June 2023 and 30 June 2022, the Charity had no capital commitments.
## **20. Pension commitments**
The charge to the statement of financial activies in respect of defined contribution scheme was £21,991 (2022: £21,861).
The Company operates a defined contribution pension scheme for all the qualifying employees.
## **21. Operating lease commitments**
At 30 June 2023 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2023**
**£**
**11,920**
**6,282**
**18,202**|2022
£
11,920
18,202|
|---|---|---|
|||30,122|
Page 28
**EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **22. Limited by Guarantee**
The Charity has no share capital and is limited by guarantee.
The Trustees are members of the company and each one undertakes to contribute £1 to the assets of the company in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member.
At 30 June 2023 the number of members of the Charitable Company was 8 (2022: 6).
## **23. Related party transactions**
Membership fees of £10,945 (2022: £6,797) were paid to Emmaus International, £2,365 (2022: £1,576) were paid to Emmaus Europe and £4,148 (2022: £2,765) were paid to Emmaus UK. Total solidarity payments due to Emmaus UK amounted to £2,943 (2022: £3,281). At year end, a balance of £nil (2022: £nil) was due to Emmaus UK.
## **24. Contingent Liability**
Set up grants of £240,000 were received from Emmaus UK between 2000 and 2004. These grants were applied to specific set up projects and are only repayable should Emmaus Village Carlton leave the Federation of Emmaus in the UK, for whatever reason.
The Trustees have no intention to leave the Federation and are not aware that under any circumstance Emmaus UK wants Emmaus Village Carlton to leave.
## **25. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Interest received
(Increase)/decrease in stocks
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Movement on fixed assets
**Net cash provided (used in)/by operating activities**|**2023**
**£**
**98,152**
**(7,431)**
**410**
**(32,805)**
**22,778**
**85,120**
**166,224**|2022
£
(51,327)
(2,538)
(6,162)
1,539
(120,373)
131,697
(47,164)|
|---|---|---|
Page 29
## **EMMAUS TURVEY**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **26. Analysis of cash and cash equivalents**
|Cash in hand
**27.**
**Analysis of changes in net debt**
Cash at bank and in hand|**At 1 July**
**2022**
**£**
**483,905**
**483,905**|**2023**
**£**
**657,560**
**Cash flows**
**£**
**173,655**
**173,655**|2022
£
483,905|
|---|---|---|---|
||||**At 30 June**
**2023**
**£**
**657,560**
**657,560**|
Page 30