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← Emmaus Turvey

2024-06-30-accounts

Registered number: 03924340 Charity number: 1083113

EMMAUS TURVEY

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

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
Chief Executive Officer Statement 4
Trustees' report 5 - 12
Independent auditors' report on the financial statements 13 - 16
Statement of financial activities 17
Balance sheet 18 - 19
Statement of cash flows 20
Notes to the financial statements 21 - 36

(A company limited by guarantee)

EMMAUS TURVEY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024

Trustees Jeremy F Reynolds
Dean S Bourke
Ian F Kavanagh
Simon D Botterill
Ian D Henderson
Dominique S Edell
Emily Megeary
Frances E Parry
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
Independent auditors
MHA
Chartered Accountants
Statutory Auditors
Moorgate House
201 Silbury Boulevard
Milton Keynes
Buckinghamshire
MK9 1LZ
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
Patrons
The Rt. Rev. Richard Atkinson OBE - Bishop of Bedford
The Rt. Rev. David Oakley - Bishop of Northampton

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 2024

Key management Andrew Stanley (Finance and IT Manager) (retired 21st December 2023) Rebecca Bateman (Support Manager) Lynn Reeves (Operations Manager) Nick Samuels (Interim Chief Executive Officer until 7th September 2023) Donna-Louise Cobban (Chief Executive Officer, from 14th December 2023) Wadzanayi Mavhura (Finance Manager, from 20th February 2024)

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 2024

Shortly after our last AGM, Donna-Louise Cobban joined us as Chief Executive Officer. Donna-Louise came to us with a strong background in managing charities, in dealing with homelessness and in retail. She has been a breath of fresh air, providing strong vision, determination and an absolute commitment to what we do at Emmaus. As with any period of change, there have been challenges, but Donna-Louise and her team have risen to those, and we are now much stronger for that.

Our Companion numbers are now starting to pick up, largely as a result of our team being very proactive in working with other organisations who can refer new Companions to us. I‘m very pleased to report that we are also seeing a rise in the number of Companions moving on having found employment elsewhere or, indeed, on our own staff team.

Our finances have been solid, with good growth across our social enterprises. That foundation has enabled us to make some long-needed decisions about investment in our estate. It is fair to say, that much of our site, particularly the Dom Gregory building, was starting to look run down. The board of trustees took the decision to use our reserves for a major investment in the site, renovating the building in order to meet the needs of our Companions and staff more effectively. We have also undertaken major programmes of maintenance of other buildings, a new drop-off area and, largely through the efforts of our Companions, the outdoor spaces across the site.

This is a major financial commitment which has been supplemented by a new push in fundraising from external sources. We are very grateful to the various local and national trusts and foundations for their generous funding to support our work.

We have now embarked on a review of our five-year strategy. This will ensure that we remain focused and disciplined in what we do as we go forward. I look forward to being able to report our progress with that over the coming months.

Finally, I must offer our thanks to Andrew Stanley, our Finance Manager, who left us earlier in the year after many years of remarkable service. Andrew was deeply committed to Emmaus and played a huge part in establishing the organisation we know today. He was a huge pleasure to work with and, since leaving, he has been generous in helping our new team learn from his knowledge and experience. I wish Andrew the very best in his retirement.

On behalf of the trustees, I offer my thanks to Donna-Louise and our Companions, staff, supporters and volunteers for working with us as we strive to make EVC an even better place. This has been a good year.

................................................ Jeremy F Reynolds Chair of Trustees Date:

Page 3

EMMAUS TURVEY (A company limited by guarantee)

CHIEF EXECUTIVE OFFICER STATEMENT FOR THE YEAR ENDED 30 JUNE 2024

I was delighted to join Emmaus Village Carlton as the new Chief Executive Officer in December 2023, as I have been passionate about supporting people experiencing homelessness for many years. My thanks must firstly go to the Chair of Trustees, Jeremy Reynolds and the Board of Trustees for putting their trust in me. This felt like a natural step for me in my journey as a CEO and very much felt like the place where I belong – which is how I would like our Companions to feel here.

My main priority when joining the organisation was to get to know the Companions and understand their perspectives and to bring reassurance to them in the leadership of the organisation after a period of time with an interim CEO. I am extremely grateful for the way the Companions have accepted me and how they have coped with the various changes this year. My mantra is always – “Is this good enough for the Companions?”

I am pleased to be able to highlight the impact of our work to relieve homelessness, more on this can be read later in this report. Every day my team and I see the transformative power of a secure place that Companions can call home – where we offer not just a room but a starting point for people to experience brighter futures as they re-build their lives.

Over the last year, thanks to the generous support of our customers and donors, we have been able to do more for our Companions. From refreshing our renewed focus on drug and alcohol recovery with Geraldine our new Recovery Worker in the staff team, to our major investment in our Dom Gregory building refurbishment which has been transformed into our new Support and Wellbeing Hub where we will be able to increase our support offering and activities and all the small changes in between that make a big difference such as being able to give companions their own toiletries.

Our charity shops, em’s Bistro, public donations and grant income from trusts and foundations have all been vital in making these changes possible and I am extremely grateful to all our funders and donors for this ongoing support. Every item purchased or donated, every cup of coffee and cake enjoyed, every one-off personal donation and each grant awarded brings us closer to realising our mission – to enable people to overcome homelessness and regain self-respect and independence.

I would like to take this opportunity to thank the many volunteers within Emmaus Village Carlton who give huge amounts of their time each week to enable us to reach our goals and play a vital part in everyday life for our Companions. We really couldn’t do this without you all!

As we look to the future our staff team continues to rise to the positive challenge of a busy, thriving social enterprise and the balance of supporting our Companions. I am very thankful for their dedication and commitment to our organisation. With our focus on a new long-term strategic plan, I know we will go from strength to strength in the years to come.

................................................ Donna-Louise Cobban Chief Executive Officer Date:

Page 4

(A company limited by guarantee)

EMMAUS TURVEY

TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2024

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 2024. 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.

Objectives and activities

Most of our activities relate to generating income to support the community, and to maintain and develop its infrastructure. Our retail social enterprise includes em’s Bistro, Bric-a-brac, Boutique, eBay, Furniture and a seasonal Christmas pop up shop in our Chapel. We are reassured that we have continued to generate funds enabling us to invest in the community and to enhance the opportunities presented to Companions.

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 marginalized 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.

Page 5

EMMAUS TURVEY (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

b. Who uses and benefits from our services?

Our accommodation is split over 3 main buildings – ‘Alborada House’, ‘Silver Birches’ and ‘Copper Beeches’ and comprises of 39 individual ensuite rooms. We have several flexible “move on” options for Companions compromising of 3 1-bedroom flats and 1 3-bedroom shared house. This move on accommodation is for Companions who have obtained employment but are not yet able or ready to access the housing market. We continue to support Companions in the move on process for up to a year to enable them to live independently.

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 following, to the best of their ability, 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 our dedicated volunteers. The impact of our work goes beyond those we help directly.

c. Provision for our Companions

Facilities within Alborada House, Silver Birches and Copper Beeches include; communal kitchens and dining room, launderettes, a games room, a computer room, a gym, private gardens and playing fields. Within the newly refurbished Dom Gregory building there is a private garden, several lounge and meeting rooms, kitchens and an additional computer room.

On arrival, Companions receive training for the work they do within the social enterprise. As they settle within the community, they are supported in gaining additional skills, this often includes training through external training providers.

We provide in-house ongoing support for mental health, physical health and independent living. Companions have direct support from staff members to help them with their personal development, wellbeing and drug & alcohol recovery. We also employ the services of a counsellor on a part-time basis.

Page 6

EMMAUS TURVEY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

d. Outcomes and Impacts

Over the last year our support team has helped 56 Companions, with 11 Companions moving onto new accommodation and work opportunities. Our Support Team is made up of two support workers, a progression & wellbeing worker and a recovery worker and is led by Rebecca Bateman, Support Manager.

The team is focused on day-to-day advice, guidance and support to ensure our companions are able to re-build their lives out of homelessness. Their approach to support is delivered with a flexible, trauma informed, person centered approach. We have been able to enhance the team’s learning opportunities with the excellent training available through Homeless Link.

There has been a greater focus on wellbeing activities with 56 Companions taking part in 12 different wellbeing related activities led by our own Support Team. We are also supported by a number of primary and secondary health care provisions within the community on a regular basis such as the mobile community dentist service.

We are pleased that seven Companions gained employment throughout the year, and were encouraged that three Companions joined the staff team during this time, which shows our ongoing commitment to employment support. Along with employment support, we continue to support Companions to access various training courses. A total of 56 Companions took part in a variety of 12 different training courses.

Highlights from Companion training opportunities include; a number of companions have passed NVQ’s in warehousing, customer service and forklift driving through the teams at A1 Safety Consultants and Sempre 360 Training. We have also run a number of fire safety training courses with the support of Beds Fire & Rescue Service and Kings Fire Ltd. Internally the team have supported training in areas such as food hygiene, cooking skills and barista skills within em’s Bistro. We were delighted to strengthen our relationship with Bedford Borough Council and have had colleagues deliver training on subjects such as customer service, cash handling, numeracy and IT skills.

Along with day-to-day support we have renewed our focus for Companions who wish to move on and feel the time is right to move away from Emmaus Village Carlton. We now have a more supportive, flexible approach to this and are pleased to report over the last year 11 Companions moved away successfully, with 8 moving into their own tenancies.

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.

Page 7

EMMAUS TURVEY (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Achievements and performance

a. Employees

The Chief Executive Officer, Finance Manager, Support Manager and Operations Manager make up the senior leadership team who have the responsibility for the smooth running of the organisation as delegated to by the Board of Trustees. During this year we have been fortunate to invest in new staff roles and now have 30 members of staff, who are in a mix of part-time and full-time roles. Our intentions have been to strengthen all areas of the organisation to enable us to grow our social enterprises as well as expand the support offered to companions.

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 supporting the community is performed behind the scenes.

b. Volunteers

We continue to value the contributions our volunteers make to our organisation on a daily and weekly basis, we couldn’t operate as effectively without the ongoing dedication of our highly skilled and experienced volunteers. Our volunteers help out across all areas of the organisation from our support team to our warehouse, catering and retail teams and in our garden, site and maintenance teams. Our volunteers also all play a part in supporting Companions by showing them the benefits of working together in teams, supporting communication and building confidence.

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 8

EMMAUS TURVEY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Financial review

a. Outcome for the year

Total revenue for the year increased by 16% above the previous year. However, the charity recorded a deficit for the year to 30 June 2024 of £60,552 compared to a surplus of £98,152 for the year to June 2023.This reflects higher costs in a number of areas including repairs & maintenance, Companions allowances, staffing and utilities.

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 decreased by £132,193 during the year (compared to an increase in cash of £173,655 for the year to June 2023.This year's cashflow included the impact of significant investment on buildings improvements (£249,070). At 30 June 2024 the charity held cash and cash equivalents of £525,367. The statement of cash flows is included on page 17.

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 £430,000 based on the budget for the year to June 2025. At 30 June 2024, total unrestricted funds were £681,818, of which £525,367 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 strategic plan will be reviewed during the coming year and particular consideration will be given on how to continue to grow the social enterprise whilst growing the number of Companions, including more opportunities for those who are ready to move on.

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.

Page 9

EMMAUS TURVEY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Structure, governance and management (continued)

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 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 is a sub-committee of the Board, which is responsible for Finance, IT & Risk.

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.

Page 10

EMMAUS TURVEY (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Structure, governance and management (continued)

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, a low number of companions puts pressure on the community and the outcomes that can be achieved. When Companion numbers are relatively low, this in turn puts the community under pressure. To mitigate this, the management is actively seeking to maintain a referral rate whilst at the same time ensuring that new Companions 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. DBS checks are carried 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 recent inflationary environment has increased costs in many areas including fuel costs. The higher cost of living also impacts 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, well trained and resourced staff team, adopting conservative financial policies and robust business planning with appropriate operational policies (including a Business Continuity Plan). This risk is further mitigated with a renewed focus on external income generation through grants from Trusts and Foundations.

Page 11

EMMAUS TURVEY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

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 . 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:

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:

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.

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 12

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 2024 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:

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 13

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:

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:

Page 14

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:

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 15

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 trustees, 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 trustees 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 16

EMMAUS TURVEY

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024

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
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
44,358
-
-
44,358
15,182
-
15,182
29,176
-
29,176
29,176		 Unrestricted
funds
2024
£
75,704
1,669,585
16,069
1,761,358
1,833,849
17,237
1,851,086
(89,728)
771,546
(89,728)
681,818		 Total
funds
2024
£
120,062
1,669,585
16,069
1,805,716
1,849,031
17,237
1,866,268
(60,552)
771,546
(60,552)
710,994		 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

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 21 to 36 form part of these financial statements.

Page 17

EMMAUS TURVEY (A company limited by guarantee) REGISTERED NUMBER: 03924340

BALANCE SHEET AS AT 30 JUNE 2024

Note
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
27
Creditors: amounts falling due within one
year
15
Net current assets
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17,18
Total funds		 9,896
56,652
525,367
591,915
(259,971)		 2024
£
379,050
379,050
331,944
710,994
29,176
681,818
710,994		 10,734
110,520
657,560
778,814
(137,214)		 2023
£
129,946
129,946
641,600
771,546
-
771,546
771,546

Page 18

EMMAUS TURVEY (A company limited by guarantee) REGISTERED NUMBER: 03924340

BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2024

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

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:

................................................

Simon D Botterill (Treasurer)

The notes on pages 21 to 36 form part of these financial statements.

Page 19

EMMAUS TURVEY

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024

Note
Cash flows from operating activities
Net cash used in operating activities
26
Cash flows from investing activities
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
27
The notes on pages 21 to 36 form part of these financial statements		 2024
£
(148,262)
16,069
16,069
-
(132,193)
657,560
525,367		 2023
£
166,224
7,431
7,431
-
173,655
483,905
657,560

Page 20

EMMAUS TURVEY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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 21

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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 22

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

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.

Page 23

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

2. Accounting policies (continued)

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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from grants and donations

Donations
Grants
Donations
Grants		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
61,086
44,358
14,618
44,358
75,704
Unrestricted
funds
2023
£
132,808
29,861
162,669		 Total
funds
2024
£
61,086
58,976
120,062
Total
funds
2023
£
132,808
29,861
162,669

Included in grant income is £Nil (2023: £29,861) received from the Renewable Heat Incentive scheme.

Page 24

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

4. Income from charitable activities

Unrestricted
funds
2024
£
Sale of donated / recycled goods
942,380
Bistro
330,705
Other sales
126,441
Rent from Companions
270,059
1,669,585
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
2024
£
942,380
330,705
126,441
270,059
1,669,585
Total
funds
2023
£
799,087
232,603
106,365
246,288
1,384,343

5. Investment income

Unrestricted Total
funds funds
2024 2024
£ £
Bank interest 16,069 16,069

Page 25

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

5. Investment income (continued)

Unrestricted Total
funds funds
2023 2023
£ £
Bank interest 7,431 7,431

6. Costs of Generating Voluntary Income

Costs of £17,893 (2023: £Nil) 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.

7. Analysis of expenditure on charitable activities

Summary by fund type

==> picture [8 x 11] intentionally omitted <==

Repairs and maintenance
Retails & workshop supplies / services
Community costs
Companion's allowances
Volunteer costs
Food
Employment
Staff recruitment
Premises (insurance & council tax)
Depreciation
Utilities & telecoms
Transport
Bank charges and loan interest		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
9,357
147,608
-
235,766
-
120,477
-
103,418
-
9,872
-
79,162
-
802,729
-
17,974
-
84,612
5,825
67,621
-
92,756
-
58,509
-
13,345
15,182
1,833,849		 Total
2024
£
156,965
235,766
120,477
103,418
9,872
79,162
802,729
17,974
84,612
73,446
92,756
58,509
13,345
1,849,031

Page 26

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

7. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

==> picture [8 x 11] intentionally omitted <==

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
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		 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

8. Repairs and Maintenance

A sum of £156,965 (2023: £77,842) 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
2024
£
Audit
13,594
Accountancy
1,920
Trustees indemnity insurance
1,723
17,237		 Total
funds
2024
£
13,594
1,920
1,723
17,237

Page 27

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

9. Other expenditure (continued)

Audit
Accountancy
Trustees indemnity insurance		 Unrestricted
funds
2023
£
6,603
815
1,723
9,141		 Total
funds
2023
£
6,603
815
1,723
9,141

The amount of £1,723 (2023: £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		 2024
£
722,038
53,752
26,939
802,729		 2023
£
554,977
44,310
21,991
621,278

The average number of full time equivalent persons employed by the Company during the year was as follows:

2024
No.
Employees
21
No employee received remuneration amounting to more than £60,000 in either year.		 2023
No.
19

At the end of the period the Charity employed eleven 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 £179,261 (2023: £151,876). Key management personnel includes the Chief Executive Officer, Finance and IT Manager, Support Manager and Operations Manager.

Page 28

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 30 June 2024, no Trustee expenses have been incurred (2023 - £NIL).

12. Tangible fixed assets

Cost
At 1 July 2023
Additions
At 30 June 2024
Depreciation
At 1 July 2023
Charge for the year
At 30 June 2024
Net book value
At 30 June 2024
At 30 June 2023		 Building
improvements
£
1,433,937
292,070
1,726,007
1,329,833
61,441
1,391,274
334,733
104,104		 Plant and
machinery
£
52,026
3,310
55,336
47,770
1,780
49,550
5,786
4,256		 Motor
vehicles
£
10,250
-
10,250
3,999
751
4,750
5,500
6,251		 Fixtures
and fittings
£
70,399
24,068
94,467
60,404
6,770
67,174
27,293
9,995		 Computer
equipment
£
73,330
3,104
76,434
67,990
2,706
70,696
5,738
5,340		 Total
£
1,639,942
322,552
1,962,494
1,509,996
73,448
1,583,444
379,050
129,946

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 29

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

13. Stocks

Finished goods and goods for resale
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Financial instruments
Financial assets
Financial assets measured at fair value through income and expenditure		 2024
£
9,896
2024
£
8,127
9,078
39,447
56,652
2024
£
132,504
23,751
7,340
96,376
259,971
2024
£
525,367		 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

14. Debtors

15. Creditors: Amounts falling due within one year

16. Financial instruments

Page 30

(A company limited by guarantee)

EMMAUS TURVEY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

17. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Computer IT Equipment
Dom Gregory Building Refurbishment Fund
Total of funds		 Balance at 1
July 2023
£
771,546
-
-
-
771,546		 Income
£
1,761,358
2,358
42,000
44,358
1,805,716		 Expenditure
£
(1,851,086)
(1,663)
(13,519)
(15,182)
(1,866,268)		 Balance at
30 June
2024
£
681,818
695
28,481
29,176
710,994

Computer IT Equipment - A fund set up for the purchase of IT equipment.

Dom Gregory Building Refurbishment Fund - A fund set up for the Dom Gregory refurbishment project. The expenditure of the fund has been allocated to fixed assets and as such it appears as though the fund has not yet been spent this is not the case. Depreciation will be released against this fund on an annual basis until it reduces to £nil.

Page 31

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

17. Statement of funds (continued)
Statement of funds - prior year
Balance at
Balance at 30 June
1 July 2022 Income Expenditure 2023
£ £ £ £
Unrestricted funds
General Funds - all funds 673,394 1,554,443 (1,456,291) 771,546

Page 32

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

18. Summary of funds

Summary of funds - current year

General funds
Restricted funds
General funds		 Balance at 1
July 2023
£
771,546
-
771,546
Balance at
1 July 2022
£
673,394		 Income
£
1,761,358
44,358
1,805,716
Income
£
1,554,443		 Expenditure
£
(1,851,086)
(15,182)
(1,866,268)
Expenditure
£
(1,456,291)		 Balance at
30 June
2024
£
681,818
29,176
710,994
Balance at
30 June
2023
£
771,546

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
29,176
349,874
-
591,915
-
(259,971)
29,176
681,818		 Total
funds
2024
£
379,050
591,915
(259,971
710,994

Page 33

(A company limited by guarantee)

EMMAUS TURVEY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

19. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
129,946
778,814
(137,214)
771,546		 Total
funds
2023
£
129,946
778,814
(137,214)
771,546

20. Capital commitments

At 30 June 2024 and 30 June 2023, the Charity had no capital commitments.

21. Pension commitments

The charge to the statement of financial activies in respect of defined contribution scheme was £26,939 (2023: £21,991).

The Company operates a defined contribution pension scheme for all the qualifying employees.

22. Operating lease commitments

At 30 June 2024 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		 2024
£
7,109
-
7,109		 2023
£
11,920
6,282
18,202

Page 34

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

23. 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 2024 the number of members of the Charitable Company was 8 (2023: 8).

24. Related party transactions

Membership fees of £11,094 (2023: £10,945) were paid to Emmaus International, £2,495 (2023: £2,365) were paid to Emmaus Europe and £4,180 (2023: £4,148) were paid to Emmaus UK. Total solidarity payments due to Emmaus UK amounted to £Nil (2023: £2,943). At year end, a balance of £nil (2023: £nil) was due to Emmaus UK.

25. 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.

26. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of Financial
Activities)
Adjustments for:
Interest received
Decrease in stocks
Decrease/(increase) in debtors
Increase in creditors
Movement on fixed assets
Net cash provided (used in)/by operating activities		 2024
£
(60,552)
(16,069)
838
47,386
129,239
(249,104)
(148,262)		 2023
£
98,152
(7,431)
410
(32,805)
22,778
85,120
166,224

Page 35

EMMAUS TURVEY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

27. Analysis of cash and cash equivalents

Cash in hand
28.
Analysis of changes in net debt
Cash at bank and in hand		 At 1 July
2023
£
657,560
657,560		 2024
£
525,367
Cash flows
£
(132,193)
(132,193)		 2023
£
657,560
At 30 June
2024
£
525,367
525,367

Page 36