Charlty registration number 1093957 {England and Wales) Company registration number 04447730 JENNYRUTH WORKSHOPS LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 • xeinadin
JENNYRUTH WORKSHOPS LTD LEGAL AND ADMINISTRATIVE INFORMATION Tru6tee8 MrA Bums MrDWEIsy Mr D Grundy Dr R S Jones Mr P Newton Ms N Scott Ms D Sleep (Apinted 7 December 2023) Charlty number (England and Wales) 1093957 Company number 04447730 Reglstered office Unit 5 Redhouse Fami Bridge Hewick Newby Hall Estate Ripon North Yorkshire HG4 SAY Independent examlner Deborah Fletcher-mcvay FCA Xeinadin Accountants Oak House. Market Place Bedale North Yorkshire DL8 1AQ Bankers Virgin Money 7 Gold Street Northampton NN11EN Sollcltors Hethertons Sl James Square Boroughbridge North Yorkshire Y0519AR
JENNYRUTH WORKSHOPS LTD CONTENTS Page Trustees report Independent examinerfs report Statement of financl81 actlvltles Balance Sheet Statement of cash flows Notes to the financSal statements 10-21
JENNYRUTH WORKSHOPS LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MAY 2024 The Trustees present their annual report and finandal stalements for the year ended 31 May 2024. The financi81 ststements have been prepared in accordance with the accounting polTrcies set out in note 1 to the financlal statements and comply with the charitys Memorandum and Artic$ of Association, the Companles Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitles preparlng thelr accounts in accordance with the Financial Rewting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).. ObJectlve¥ and acllvltl In settlng our ol'eclives and planning our activities the Trustees have given careful consideration to the Charfty Commission's gener81 guidance on public benefit and in particular to its supplementary public benefit guklance on the relief of Ihose in need and the advancement ol educatton. The objectlves of the Charity are: 1. The rellef of people with leaming disabilitles. in partlcular but not exdusively through tho dev¢bpment of 8elf-awareness, pride, dlgnty, confNlenc•, social awareness, arKI sodal Interaction amongst Sald people. 2. To advance educatlon amongst people wlth learnlng dlsabllltles, In partlcular bul nol &Yclusivety through tralnlng, sklll8 development. and exF*flence. To achleve thSs Jennyruth WorkstrK)ps Ltd offers tralnlng In the manufacture arml sale of wooden craft products together wlth more 8ubstsntlal bespoke items for commercial and other uses. In the last 18 months we have developed products uslng paper and texllles. to further Increa8e the leamlng opportunltkgs for our rkers. Thes• processes Involve allow our workers In all aspects of the commercial operalion - purchasing, manufacturing skllls, selllng. packaging and dlspatch. heallh and safety. monies elc. and dealing with the general public at larg8. Indeed, a major aspect of our work Is to involve our workers Wbthln the community as a whole. Jennyruth Workshops Ltd continues lo maintain and improve on its excellent reputatlon that is acknoledQed by carers, famllles and our many supporters In the community. We are constantly evolving a strateglc business dev•lopm8nt plan that clarifies our vision and forward planning for the next five to ten years. Achlevements and p•rfornian Despite the contlnuing diffi11 and uncertain natio1 and loGal economic dimate, th• company has Mnunued 10 make avallable its facilities to 8 slgnificant number of leamlng41isabled people. malntalning Its educatlon and achlevement in all areas of activity, to the benefft of all. Over two years we have extended the wclkshops, to provide more spaces to provide for the demands upon our services. Jennyruth W0sK1Ps has once again achleved an increase In the numbers attending the workshops to the point where we are again approachlng a ma>amum number and Indeed have a wailing $t for certaln day8. We have seen an increase in the quallficatlons that the workers have gained, for example, Cty and Guilds Employability Skllls Entry Level 2. a significant and developlng Increase in the links made wilh the local community and an increase in the bespoke products (xdered. Following the completion of the extension we have been able to expand the groups and courses offered to our workers and increase our Vrker numbers. This has ted to an increase In stock producllon and bespoke orders, which has enabled the workshop to attend more sales events throughout the year. Growing our presence. our customer base and our revenue.
JENNYRUTH WORKSHOPS LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Flnan¢lal rnvl•w This financial year has seen increases in wages as we increase staffing levels. to cater for the increased numbers from our waiting Ilst. now reduced with the opening of our extension and lo keep up with the increase in minimum wage. We will offer staff an annual pay increase and may incur consultancy fees as we embark upon a re- structuring of staffing, as a number of our current staff reach rettrement age over the coming years. We wlll ensure our increased costs are covered by the increased In from our extended rker numbers. During the financlal year 2023124 we were fortunate lo be awarded a grant by The National Lottery Community Fund to create 2 new Job roles at the workshop as part of our expansion. The funding is for 3 years, covering the salaries of a Workshop Manager. who will oversee the production side of the workshop, and an additicnal Paintshop Supervisor. The maln fundlng source continues to be contractual payments recelved lor day placements. 60% of our income comes from North Yorkshlre Council payments, and along with grant funding, at present, equates to our Siaffing Costs. We have 6000 worker days avallable per annum of wthich 5800 are filled. Mo81 of our Rmalnlng spaces are on a Friday. A more fornial and structured SAGE accountiry system has provlded us wlth 8 variety of repo and graphlcal representations of our financial health and wellbeing. Thls has brought great benefits slnce IMplemta0n. with Improved reporting for general day4trday management. and has been an invaluable tool to Truslees for the longer- tem assurance of financial stability. In coming years. thls system wll be developed further to Ino)rporate and produce more detailed financial inf0mlat. The Statement of Flnanclal Ac15vS1Se8 8h¢xs a 8urpNA on Income for the year of £66,796 compared *ith a sUlUS In the previous year of £152.960. This represents ¢tinUed strong perfomiance whith is attrtbutable to progress being achieved In many areas. In ternis of the balance sheet the charity remains in a healihy position wilh net assets of £377,192 (2023: £310,396) includlng cash at the bank and in harml amount1 to £137.116 {2023: £111,334). Restricted funds of the charfty amounted to £51,853 (2023. £27.588). Flnanclal Res•Th•8 In Ilne wlth guldance from the Charity Commi581on, currnnty hold 4 months reserve8. A lotal d18asler hSttlng our operation would allow us to meet any contingency costs from Ihls. Plan$ for future perlod• Whlle the general economlc dlmate remains UnrtaIn the Trustees aro confident that under its present staff and Trustees, the charity remains in a strong positK)n to give a good account of itself in the future. Our staff team contlnue to Improve In thelr servlce to our Worf(er leam. The mental welkbelng of our workers was paramount during th8 work on our extension. which has added greatty to staff workload as we move from area to area, to aid the ongoing works. The fact that Workers have not been affecled ty the extenslon works, Is testament to the unselfish attitude of our Chief Execulive Officer and her team. It Is the intention to look longer term, to ensure we can continue to offer our Wothers the Work Experience as set out In our Objectlves and Actlvities. This led to the plan to extend and improve the Workshops.. we now fpel we have building for the fulure. This Work was undertaken with the full Consenl of our kndlord who Is fulty involved In all our present and future plans, thereby ensuring we can fidenty predict our fulure servlce provlsion. We consult regularly with the appropriate slaff al North Yorkshire C(MJncil (NYC) ab(>ut fee structures and with parents. workers, and rarers about d)arges for our services. Al present we feel aggrieved that our current rates fall below those of other similar organlsations armj well below the level required Io cover operating costs, as communicated to NYC in November 2023. We are currenuy pursuing this Issue with various officers of the newly fompd NYC.
JENNYRUTH WORKSHOPS LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 We have and will continue to make minor improvements to the workshop facilitles and replacement and upgrading of our equipment. We are fortunate that, organisations. and individuals, as well as more fonnal funders, are prepared to offer us financial support that enables us to invest carefully in improvements and new equipment. We are commltted to the consolldatlon of the progress and improvements achieved over the past few years. Whilst at the same time being aware of possible changes in national policies for adults with learning disabilities. that may require us to consider future developments that we mlght pursue during the lrfe of our five year development plan. We have a continuing investment in Health and Safety procedures and partlcularly management systems in the coming years. Progress has been made in recruitlng additlonal people with learning disabilities who can benefit from the skills and experience available at the workshop and every effort is being made to maintsin this positive trend. We continue to enjoy a very positlve reputation locally, among carers and families, the Local Authority and local press and media. We are particularly proud of the development of our website and social media presence which has ensured constant contact wlth our Workers. Thls has seen an increase in sales during what has been a very dlfficult year with th8 economic situation, but we will continue to promole the Workshops to a much wlder communlty. It is important to note that we have had great support from a number of influential visitors as we planned to promote our sepiices far and wide. The past 12 months have seen visits by our local Mayors, local MP'S. Clvic Leaders, the Lord-Lieutenant of North Yorkshire, and the High Sheriff. We have enjoyed introducing many of our suppliers and customers to our VrkShopS and allow our workers to introduce them to our workers, staff, and the operation as whole. Our policy Is to engage more and more with local businesses to promote not simply our sterling workers, but also the amazing products they produce. to ensure the local community is aware of and able to engage with our work. Thls Is a programme we will continue to pursue as we engage wfth more and more local businesses. Structure. governance and management Jennyruth Workshops Ltd 1$ a Company limited by guarantee, company number 4447730 and a registered Charity govemed by Its Memorandum and Articles of Association. charity number 1093957. The Directors of the Charitsb company (°the charilf) are ts trustees for the purposes of charity law and throughout this report are collectivety referred to as the Trustees. As set out In the Articles of Association, 'Ihe C(xnpany shall have a Board of Trustees comprislng not l&ss than five and not more than nine persons.. Up to seven trustees shall be elected by the membershlp. In addition, the Trustees may, after consultatton wlth the Dean of Ripon Cathedral. or their representative COvOPt up to Iwo other persons to serve as Trustees. The Chair is appointed by the Trustees from their own number. The Trustees meet regularly to admlnister the charity, and individual trustees vislt regularly to keep up to date with thelr area of spOnSibl11ty. We plan to hotd Trustee meetings during the day, thereby ensuring a closer communlcatlon wlth our valued Workers.
JENNYRUTH WORKSHOPS LTD TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 The Trustees, who are also the directors for the purposes of c(npany law, seNed during the r are listed below: Mrs L J Allen MrA Burns MrDWEIsy Mr D Grundy Dr R S Jones Mr T R Newell Mr P Nevrton Ms K Rogats Ms N Scott Ms D Sleep (Resigned 7 December 2023) (Resigned 3 March 2024) (Appointed 7 December 2023) (Resigned 31 May 2024) Mr Stuart Gill has been Cwpted to the Board of Trustees until February 2025 AGM. All of the Truslees are Mernbe of the company and guarantee to contribute £1 each in the event of a winding up. All Trustees give their time voluntarity arbd receive rK> beneffts from the charity. Any expenses claDned by Trustees are recorded in our accounts. No fonnal training is given to the Trustees but are able to benefft from In-house training with staff and volunteers as well as courses provided locally by Harrogate arKI RitK)n CVS and other local providers. Trustee guidance is also available on the Charity Commission website. We regularty use the intemet for training purposes. Recruitment is only made from those who are sympathelic to the chariWs objectives and are prepared to be familiar with the day to day working of the Workshops. attend special events where possible and tske an overstght of the significant aspect of the managemenl aclivitses. The Trustees have assessed the major risks to which charity is exposed, and are satisfied that systems are In place to mitigate exposure to such riths. as far as that is possbi le. The Chainnan and trustees have established and ccmtinue a good relationship with our Chief Exeujtive Officer and her stsff at Jennyruth Workshops. We are made welcorr and are able to share our expertise when this is appropriate. We continue to be aware of the need lo maintain some distance between our govemance K)le and day to day managemenL Staff and volunteers I should again like to finish by paying wami trilxrte lo the work of ¢)ur dedicated CEO and her staff and of our many volunteers who bring so much to Jennyruth Workshops Ltd in innumerable ways. Without the tremendous commitsnent they all make the important work of the Jennuth Workshops coukl not succeed and Ihe lives of many people with leaming disabilities and their families would be all the poow. The trustees re was approved by th rd of Trustees. run ChalrnianlTru te• 3 February 2025
JENNYRUTH WORKSHOPS LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JENNYRUTH WORKSHOPS LTD I report to the Trustees on my examination of the financial slatements of Jennynrth Workshops Ltd (the charity) for the year ended 31 May 2024. R•$ponslbllltlos and basls of rnport As the Trustees of the charity (and aEso its direclors for the purposes of company lawl. you are responsible for the preparation of the financial ststements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial slatements of the charlty are not requlred to be audited under Part 16 of the Companies Act 2CM)6 and are eligible for independent examination, I report in respect of my examination of the charlty's financlal statements carried out under sedion 145 of the Charitles Act 2011. In carrying out my examination I have followed the Dlrections given by the Charlty Commlsslon under sectlon 145(5)(b> of the Charftles Act 2011. Indopondont oxamln•rf8 $tstem•nt Since the charity's gross income exceeded £250.000. the Independent examlner must be 8 member of a body listad n sedion 145 of the Chariiies Act 2011. 1 confimi that l am qualifRd to undertake the examination because l am member of the Instliute of Chartered Accwntants of England and Wales, which is ¢)ne of llsted bodles. I hav• ¢omplet8d my examination. I confirm that M mattern have come to my attentlon In connectk)n wlth the examin8tlon glving me use to beNeve that In any matefial respecL' accounfjng records were nol kept In resped of the charity as requlred by socllon 386 of the Companles Act 2006. the financlal statements do accord wlth those reLx>rds," or the financlal siatements do not compty with the accounting requirements of saction 396 of the Companles Act 2006 other than any requirement that the financaal statements glve a tnje and falr voew, which Is ncl a matter consldered as part of an Independent examinatlon; or the finandal statements have not been prepared in accordance wllh the methods and prfnciples of Ihe Statement of Recommended Practice for accountifvJ and reporling by charities applicable to charities preparing thelr financial statements In accorda¢ wlth the Flnanclal Reportlng siandard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have ccffie across no other matters In InneCtIOn wlth the examlnatlon lo whlch attentlon 8houkl be drawn In this report in order to enable a proper understandlng of the financlal statements lo be reached. Deborah Fletcher41cVay Xeinadin Accountants Oak House, Market Place Bedale North Yorkshlre DL8 1AQ Date: ..............
JENNYRUTH WORKSHOPS LTD STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2024 Current finanGlal year Unrestrlcted funds 2024 Restrlcted funds 2024 Total Total 2024 2023 Notes Income from; Donations. legacies and core grants Charitable activities Other trading activities Investments Insurance income 17,262 365,238 10,062 2,234 21,703 17,262 492,088 10.062 2,234 21,703 25,909 451,298 14,512 1,560 126.850 Total Income 416.499 126.850 543,349 493.279 Expèndlture on: Raising funds Charitable activities Other expenditure 3.118 375,203 130 3.118 473.193 130 2.981 336.838 97,990 10 Total expenditure 378,451 97,990 476,441 340,107 Net gainsl(losses) on investments 11 <112) (112) (212) Net income 37.936 28,860 66.796 152.960 Transfers between funds 4,595 (4,595) Not movement In funds 42,531 24,265 66,796 152.960 Reconclliation of funds: Fund balances at 1 June 2023 282,808 27,588 310,396 157,436 Fund balances at 31 May 2024 325,339 51,853 377,192 310,396 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing actlvltles.The statement of financial activities also complies with the requlrements for an income and expendlture account under the C¢Jnpanles Act 2006.
JENNYRUTH WORKSHOPS LTD STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y 2024 Prlor flnanclal ar Unrestricted funds 2023 Restricted fund$ 2023 Total 2023 Income from: Donations. legacles and core grants Charitable actlvltles Other trading activities Investments 25,909 283,438 14,512 1,560 25,909 451,298 14,512 1,560 167,860 Total Income 325.419 167.860 493.279 Expendlture on: Ralslng funds Charitable activities Other expendlture 2,981 311,066 288 2.981 336,838 288 25,772 10 Total expendfture 314,335 25,772 340,107 Net gainsl(losses) on investments 11 (212) (212) Net Income 10,872 142.088 152.960 Transfers between funds 129.500 (129.500) Net movement In funds 140,372 12,588 152,960 Reconclllatlon of funds: Fund balances at 1 June 2022 142,436 15,000 157,436 Fund balanGe8 at 31 May 2023 282,808 27,588 310,396
JENNYRUTH WORKSHOPS LTD BALANCE SHEET ASAT31 MAY2024 2024 2023 Notos Flxed assats Tanglble assets Investments 13 14 215,658 837 187.492 949 216.495 188,441 Currnnt assets Stocks Debtors Cash at bank and In hand 15 16 22.500 32.116 137,116 19.720 37,776 111,334 191.732 168.830 crltor6. amounts falllng du• wlthln one year 17 131.035) (46.875) Not curr•nt a•sets 160.697 121,955 Total assets le•• current Ilabllltl•• 377,192 310,396 The fund• of lh• charlty Rastrlcted Income funds UnrestrS¢ted funds 18 51.853 325,339 27.588 282,808 377,192 310,396 The company Is entltled to the exemption from the audit roqulrement conlalned Sn sectlon 477 of Ihe Companles Act 2006, for the year ended 31 May 2024. The dlrector acknowledges her r•sponslbllltles for complylrKJ wlth the raqulremonts of tha Companios Act 2006 th respect lo accounting records and the preparation of financlal statements. The members have not requlred the compary to obtsln an audlt of tts financial statements for the year in questlon In accordance with sectton 476. These financial statements have been prepared in a¢¢ordance wlth the provlslons appllcable to companies subject to the small companies The financial s ements were approved the TNStees on 3 February 2025 Chalrnianfrrust Company reglstralion number 04447730 (EnglarKI and Wales)
JENNYRUTH WORKSHOPS LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2024 2024 2023 Cash flows from tsrating activlties Cash generated from operath)ns 71,158 144,441 Investlng activiti Purchase of tangible fixed assets Investment income received (47,610) (157.234) 1.560 Net ¢ash used in Investtng actlvittes (45.376) (155.674} Net cash generatsd from financlng acttvltles Net increasel(decrease) in cash and cash equivalents 25.782 (11,233) Cash and cash equivalents at beginning of year 111.334 122,567 Cash and cash equlvalents al end of year 137.116 111,334
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y 2024 Accounting polkl•s Charity infomiatlon Jennyruth Workshops Ltd is a private company Ilmited by guarantee incorporated In England and Wales. The registered office is Unit 5, Redhouse Fann. Bridge Hewick Newby Hall Estate. Ripon. North Yorkshire, HG4 SAY. 1.1 Accounting conventlon The financial ststements have been prepared in accordance th the chariws goveming document, the Companies Aci 2006. FRS 102 Yhe Financial Reporting Starrflard applicable in the UK and Republic of Ireland. and the Charities SORP °Accounting and Reporting by Charities: Statement of Recommended Practice app1tb]e to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)°. The charity is a Public Benefit Entity as defined by FRS 102. The finanaal ststements are prepared in steng. which is the funclional currency of the tharity. Monetary amfjjnts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention modified to indude the tsir value of inveslments. The principal accounting polcies adopted are sel out below. 12 Golng Concern At the time of approving the financial slatements. the Trustees have a reasonable expectat•on that the charity has adequate resources to continue in ¢)perational existence for the foreseeable future. Thus Ihe Trustees continue to adopt the going concem basis of accounting in preparirvJ the financial statements. 1.3 Charilable funds Unrestricted fijnds are available for use at the discretion of the Trustees in furtherance of thelr charitable objectives. Reslricted funds are subject to speofic CnditIOnS by donors or grantors as to how they may be used. The purposes and uses of the reStrted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised vthen the charity is legally enfjtled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipL Other donalions are recognised once the charity has been nOtifd of the donation. unless performance conditions require deferral of the amounL Income tax recoverable in relation to donations received urKler GiftAid or deeds of covenanl is recognised at the time of the donation. Donated Servi and facllities are included at the vatue to the charity where this can be quantified. The value of services provided by voIunteers has not been included in these accounts. Wood and other raw materlals used In the workslw are donated by third parties.11 Is nol posslble to quantify the value of these donati(Th so they are not included in the accounts. Incoming resources from charitable trading aclivities are accounted for when earned. Investment income is induded when receivable. 10-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Accountlng pollcles (Conllnued) 1.5 Expendlture Expenditure is recognised on an accruals basis as a fiability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Raising funds comprise the costs associated with attracting voluntary income and thè costs of trading for fundraising purposes. Charitable expendtture comprises those costs incurred by the charity in the delivery of its actwities and services for its beneficiaries. It includes both costs of a direct and indirect nature necessary to support them. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is.recognised so as to write off the Cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold building improvements Plant and mathinery Computers Motor vehicles 10%1 over 20 years on a straight line basis 33°k125%120Yo Straight line 20% straight line 20% straight line The gain or loss arising on the disposal of an asset Is determined as the difference between the sale proceeds and th& carying value of the asset, and is recognised in the statement of financial activities. 1.7 Flxed asset Investments Fixed asset investments are initially measured at transadton price exduding transaclion costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net in¢omel{expenditure} for the year. Transaction costs are expensed as incurred. 1 A Impalmient of fixed a$$ets At each reportlng end date. the charfty revEews the carrying amounts of Its tanglble assets to detemlne whether there is any indication that Ihose assets have suffered an impaiment loss. If any such indicatlon exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (rf any). 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and. where applicable. direct labour costs and those overheads that have been Incurred in bringing the stocks to their present location and condltion. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cosL Net realisable value is the estimated selling price less all estimated costs of completion and costs to be Incurred in marketing, selling and distribution. 1.10 Retlrement b•noflts Payments to defined contrlbution retirement benefit schemes are charged as an expense as they fall due. 1.11 Leases Rentajs payable under operating leases. including any lease Incentlves received. are charged as an expense on a straight Ilne basls over the temi of the relevant lease. 11
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Income from donatlons, legactes and core grants Unreslrlcted Unreslrlcted funds funds 2024 2023 Donations and glfts Grants 17,262 18.634 7,275 17,262 25,909 Grants NYCC - market support grant The Duke of York's Community Initiatbve The Local Fund Two Ridings Community Foundation 500 775 3.000 3,000 7.275 12-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Income from charltable actMII Placoment Sal• of P•rfomvanc• fee Income woodon rnlated grants toys and other goods 2024 Totsl Placement f•• Income Sah of Perfomian wood•n r•lat•d grants toys and other goods 2023 Total 2024 2024 2024 2023 2023 2023 Sales within Charitae actsvlOe8 Project related grants 311,932 365.238 126,850 220,971 57.467 278.438 172.860 126,850 172,860 311,932 53.306 126,850 492,088 220,971 57.467 172,860 451,298 Analysls by fund Unrestrlcted funds Restrlcted funds 311,932 365,238 126.850 220,971 57.467 5.000 167,860 283.438 167.860 126.850 311.932 53,306 126,850 492.088 220.971 57,467 172.860 451.298 13-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Performance related grants anatysls 2024 2023 Woodwork Tools Fund Door Openers Fund Shears Foundation The National Lottery Community Fund Staff funding grants received Two Ridings Communty Foundation The Needler Memorial Foundation Socaal Enterprise Support Fund The Screwfix Foundalion Wolfson Foundation The Opportunity Hofjday Trust Clothworkers Foundation The Rank Foundation Other grants receivable 9.550 3.000 5.500 36.350 60,000 10.000 5,500 3,500 47,000 5,000 58,000 20.000 15,000 15.000 3.860 126.850 172,860 Further infornHtion on performance related grants received is disclosed in Note 18. Income from other tradlng a¢lfvltle3 Unre$trlcted Unreslricted funds funds 2024 2023 Fundraising events 10,062 14,512 Income from Inveslments Unrestrfcted Unreslrfcted funds funds 2024 2023 Income from listed investments Interest receivable 50 1.510 2,184 2,234 1,560 14-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Expendlture on raising funds Unreslrlcted Unrestrlctod funds fvnds 2024 2023 Tradlng co$t• Other Iradlng activitles 3,118 2,981 Expendltur• on ¢harltable a¢tlvltles 2024 2023 Dlrect CO8ts Staff costs Depredatlon and Smpalrment Legal and professlonal fees Heat and Ilght Repalrs and malntenance Postage. prlntlng and statlonary Tralnlng Staff 8ubslstence and expense8 Rent and rat88 Computer costg Motor vehicle costs Cleanlng materials Bank and paypal charges Sundry expenses A¢¢ountancy Premlses expenses Materlals 339,907 19,314 851 8,615 5,548 2,511 1,984 900 29,749 3,069 5,583 3,357 611 181 2,520 27.468 21,025 256,843 11,944 3,039 7.661 2,536 2,277 1,284 717 29,234 2,978 2.785 2,169 659 1,436 1,950 7,125 2,201 473,193 336,838 Analysls by fund Unrestricted funds Restrlcted funds 375.203 97,990 311,066 25,772 473.193 336,838 Accountancy costs include fees In relatk)n to an Independent examination of £2,520 (2023: £1,950). Trustees During the year four Trustees were reimbursed travel expenses totalling £238 {2023 - £417). None of the Trustees (or any pensons connected with them) received any remuneration or benefits from the charity during the year or in any previous year. 15-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Employees The average monlhly number of employees during the year was: 2024 Number 2023 Number 15 13 Employment costs 2024 2023 Wagès and salaries Social security costs Other penslon costs 315.8(Kl 17.871 6,236 239.445 11.887 4,366 339.907 255,698 There were no employees whose annual remunerattr wa8 more than £60.000. 10 Oth•r •xpondltur• Unro¥trlct•d Unr•8trfctsd lund• funds 2024 2023 N•t1088 on dlsposal of tanglble fixed assets 130 288 11 Galn• and lo$•es on Invutments Unrestrlcted Unre•trlGtad fund8 funds 2024 2023 Galnsl(&)sses) arising on: Revaluatlon of Investments (112) {212) 12 Taxatlon The charity Is exempt from taxation on its activilm because all Its Income Is applled for charltable purposes. 16-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 13 Tanglble red assets Le•hold Plant and Comput•rA bulldlng machln•ry Total vehlcles Cost At 1 June 2023 Additlons Disposals 180,970 31,610 94,302 13,662 (5,694) 7.310 2.338 (643) 48,555 331.137 47,610 (6,337) At 31 May 2024 212,580 102,270 9.005 48.555 372.410 Depreclatlon and Impalmient At 1 June 2023 Depreci8tion Charged In the year Elimlnated Sn respect of dlsposals 40,674 3.166 77,333 5.073 (5.651) 2.874 22.764 9,711 143,645 19.314 {6,207) At 31 May 2024 43,840 76,755 3,682 32,475 156.752 Carrylng amount At 31 May 2024 168,740 25,515 5.323 16.080 215.658 At 31 May 2023 140,296 16,969 4,436 25,791 187,492 14 Flxed •••et Investments Llst•d Investments Cost or valuatlon At 1 June 2023 Valuatbn changes (112) At 31 May 2024 837 Carrylng amount At 31 May 2024 837 At 31 May 2023 15 Stocks 2024 2023 Raw materials and consumables 22.500 19.720 17-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 16 Debtors 2024 2023 Amounts falllng duo within one year Trade debtors Other debtors Prepayments and accrued income 17.235 4.154 10,727 10,876 2,914 23,986 32.116 37,776 17 Credltorn: amounts falllng du• wlthln on• year 2024 2023 Other taxatlon and 8oc5al securfty Trade credltors Other credknrn Acwals and deferred Income 7,872 47 17,476 5,640 4.738 22.033 17.184 2,920 31,035 46.875 18 Re8trlcted fund8 The restrfcied funds of the charity eomptse the unexpended balan of donations and grants hekl on trust subject to specific conditions by donors as to how they may be used. At 1 June Incomlng 2023 re•ource$ Resources •xpend•d Transfern At 31 May 2024 Needler Trust Sodal Enterprises Support Fund Rank Foundation Wi)odwork Tools Fund Door Openers Fund Shears Foundation The National Lottery Community Fund Staff fijnding Two Rldings Communty Foundation The Local Fund Ripon Council re Poppy Project 5,000 (7,588) (15,000) (905) (3,000) 15.OLK) 9,550 3,000 (1,095) 7.550 5,500 36,350 60,000 (20,047) (45,000) (3,500) 12.803 15.000 10,000 1.500 950 (4,000) (1,500) (950) 6,000 27,588 126,850 (97.990) (4.595) 51,853 18-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 18 Restrlct•d funds (Continu•d) Prevlous year: Al 1 June Incomlng R•sources 2022 resources expended Transfvrn At 31 May 2023 Needler Trust Bernard Sunley Foundation Screwfix Foundation Ripon Cuncil re sllhouites Extenslon fund Clothworker Foundat•on Grant Social Enterprises Supp Fund Step Changes Stafflng Propct Rank Foundatlon (3.500) (10.000) 15.000) 5,1)00 10.000 5,000 (860) 81,000 15.000 (81.000) (15,000) 42,000 5,500 15,000 {19.412) (5.500) {15,000) 7,588 15,000 15,000 167,860 (25,772) {129,500) 27,588 The Needlor Trusi Fund consists of £5.0fy) to purchase electronk magnlfiers whl¢h re not yet purchased at th• year end The Soclal Enterprfses Support Fund was recetved to cover the cost of the salary for a woocknrk supervlsor, new tlre alann system and consultancy for admlnlstratlve Improvement. thls fund has been fully expended durtng the year. Funds were recelved from The Rank F¢)undalk)n for a byalty bonus for slaff, and lo cover Ihe costs of rislng uti111188. This was fully expended during the year. The Woadwork Tools Fund consists of three grants received for the purchase of various woodwork equlpmont. £7,550 of whlch was available to be spent at the year end. Two grants were received from the Sylvia Waddllove Foundatlon and The Hedley Found8tlon to fund the purchase of door openers. This was lully spent during the year. The Shears Foundation ptovlded a grant of £5,500 to fund a baklNJ and sewlNJ group. Thls was yet to be Spent at the year end. Funds were received from The National Lottery Communty Fund for the empbyment of two additional members of staff over three years. This propd was ongolNJ at the year end. Various grants were recelved In the year lo contrlbute to additional stsff (x)3ts. Atotal of £15,000 of these were available to be spent at the year end. The Two Ridings Communlty Foundation lund was received lo wver a Sales dlversfficatlon plan. Funds were received the Local Fund for corpore wear. Thls was fully expended durlng the year. £950 was received from Rlpon Council to fund the poppy projecl. Thls was fully spent in the year. 19-
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 19 Anatysls of net a88ets b•tween funds Unrestrlcled Restrlctod funds fund• 2024 2024 Totsl 2024 At 31 May 2024: Tangible assets Investm8nts Current assetsl{Ilabllltles) 215.658 837 108,844 215.658 837 160,697 51.853 325,339 51,853 3TI.192 Unr•strfcted funds 2023 R•strlct•d fund• 2023 Total 2023 At 31 May 2023: Tanglble assets Investments Current assetsl{IlabllStfes> 187,492 949 94,367 187,492 27,588 121,955 282,808 27,588 310,396 20 Oparatlng lea•e commltmonts At the reporting end date the chaiity had outstanding commitments for future mlnlmum lease paymen18 under non-cancellable operatlng leases, whlch fall due as follows: 2024 2023 vrithln one year Between Iwo and fve years In over five years 25.480 104.000 182,000 23.920 95.680 191,360 311,480 310,960 21 Relatsd party transactions During Ihe year the charity re1Ved placement income totalling £22,414 (2023 - £20,920) from trustees, key management and thelr close families. The in(xxne was received wiihout cormlitions and on equivalent temis to other parties. During the year the tharity incurred costs of £6.152 {2023 - £19.028) payable to the Newell brothers. close family members of a trustee and the Chief Executive Officer. for a)nstruction and rna1ntenan. These costs were on nonnal commercial tems.
JENNYRUTH WORKSHOPS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 22 Cash generatsd from 0ratIOnS 2024 2023 Surplus for the year 66.796 152,960 Adjustments for: Investment Income recognised in statement of financlal activitles Loss on dlsposal of tanglbk8 fixed assets Fair value galns and losses on investments Depreciation and imp8irment of tangible fixed assets {2,234) 130 112 19.314 {1,560) 212 11,944 Mov•m•nts In worklng capltal: {Increase) In stocks Decreasel(Sncrease) in debtors {Decreaseylncr8ase In credltors (2.780) 5,660 (15,840) (19.720) (16.757) 17.074 Cash genorated from operatlons 71,158 144,441 23 Analy•l• ol changes In net fvnds Gharlty had no materfal debt durlng tho year. 21