Company number: 4402061 Charity number: 1094827
Friends First
Report and Financial Statements
Year ended 31 August 2024
FRIENDS FIRST
Financial Statements - 31 August 2024
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2-5 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10-15 |
FRIENDS FIRST
REFERENCE AND ADMINISTRATIVE DETAILS
Friends First is a registered charity (1094827) and a company limited by guarantee (4402061).
Its registered office is:
21/23 Clarendon Villas Hove East Sussex BN3 3RE
The Trustees throughout the year, (unless otherwise shown), and at the date the report is signed were:
K Ball (resigned on 31[st] December 2023) A Bateman (appointed on 11[th] June 2024) W Bigwood N de Freese (appointed on 20[th] February 2024) J Foreman (resigned on 7[th] November 2023) P Jarvis (resigned on 14[th] May 2024) A Knight M Sibanda J Waller (appointed on 14[th] May 2024) D Wilson (appointed on 19[th] March 2024)
Company Secretary A Waller The company’s advisors are: Bankers : National Westminster Bank plc 103 Church Road Hove East Sussex BN3 2BF
Independent Examiner: Dr Shona Wardrop C.A 44 Grand Parade Brighton BN2 9QA
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FRIENDS FIRST
TRUSTEES’ ANNUAL REPORT
The trustees present their 23[rd] report and the unaudited financial statements for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply with current statutory requirements the Financial Reporting Standard applicable in the U.K. and Republic of Ireland (FRS102) (effective from 1 January 2019), the Memorandum and Articles of Association, and the Statement of Recommended Practice: Accounting and Reporting by Charities 2019.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The company was incorporated on 22 March 2002 and was registered as a charity on 28 November 2002. It is governed by its Memorandum and Articles of Association. The company is limited by guarantee and has no share capital.
Friends First is connected with Clarendon Trust Ltd (of 21-23 Clarendon Villas, Hove, East Sussex, BN3 3RE) in that the charities have common trustees and Clarendon Trust Ltd is the sole corporate member of Friends First. The trustees of the company are appointed upon becoming a trustee of Clarendon Trust Ltd. The induction process for trustees involves supplying them with copies of the Memorandum & Articles of Association, recent Accounts and Minutes of trustees’ Meetings. They are also shown the work of Friends First and meet with the senior staff. Trustees meet regularly through the year and all the major decisions of the charity are made by them in consultation with the charity’s managers.
The trustees have recognised the importance of assessing and managing risk associated with the charity’s objectives. The process of identifying risk is ongoing and has been an essential part of the management of the charity. The trustees have implemented systems to ensure ongoing identification, management and documentation of foreseeable risks.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The trustees have had regard to the Charity Commission guidance on public benefit, and paid due regard to it in deciding what activities the charity should undertake. The trustees are satisfied that the ongoing activities which they are involved in means that the charity is continuing to meet the public benefit requirement. Friends First Trust aims to contribute toward:
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reducing long-term unemployment
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reducing homelessness
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reducing social isolation
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increasing the provision of safe supportive housing
Friends First also works with socially minded property investors, enabling Friends First beneficiaries access to secure and affordable accommodation. The accommodation Friends First have available includes: short stay and emergency accommodation, shared housing and lodgings in the local community.
Friends First provides intensive personal support for beneficiaries to assist them in gaining momentum and achieving independent living. Alongside this Friends First recruit, screen, and train volunteer mentors and befrienders to come alongside beneficiaries living in their local
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communities. The charity also has access to counselling referral and regularly work alongside and signposts to other like-minded agencies in the city.
FRIENDS FIRST
Trustees’ Report – continued
ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT
Housing
Friends First provides support to residents in three houses across the city. This year we have successfully raised funds for a part time post for a housing support worker. We have employed someone with lived experience of homelessness who has come through our accommodation and been volunteering for over a year.
Coldean House: 4 -5 bed
The focus of this house is Christian discipleship and preparation and transition to full time work. The house is currently full with four of the men in full time work and the fifth engaged in voluntary work experience. We hold weekly prayer meetings at the house and have several people waiting for a place in the house.
Hove House: 3 bed
This is home to a single parent mum from Ethiopia with three children. She is part of City Coast Church and Friends First is partnering with them to support her.
Moulsecoomb House 3 bed
An Emmanuel church member has asked us Friends First to manage this property. Currently Friends First trainees are housed in this property.
Holland Road Baptist Church
We are working in partnership with Holland Road Baptist Church to provide a basic start-up kit of a kettle, microwave etc. together with some furniture for individuals accessing emergency accommodation. The team would like to find premises where donated furniture can be stored.
Foodbanks
Friends First Team members continue to support all the Emmanuel Foodbanks enabling us to signpost or refer clients who may need further support with counselling, housing or work experience.
Keys Community Detox
Keys Detox is a National church based detox programme to help people escape from alcohol and drug addiction through integrated medical, spiritual and community support. Friends First has become the Keys hub coordinating support across Brighton & Hove. We are currently looking for a project Lead to take this forward.
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FRIENDS FIRST
Trustees’ Report – continued
St Columba’s Farm
Friends First is partnering with St Columba’s Farm in West Sussex which offers a day-long structured activity. The project provides personal development and life skills training and the opportunity to be with others in a relaxed, safe and supportive environment. The farm is part of the Country stewardship scheme and there is instruction in ecology, horticulture, land management and animal husbandry.
FINANCIAL REVIEW
The Statement of Financial Activities on page 7 shows total incoming resources of £128,660. The charitable company has funded a variety of projects and activities, which are in line with its stated objectives. The level of activity for the year was satisfactory. There was a deficit for the year £4,944. At the end of the year the funds of the charity were in surplus by £50,933. The trustees of Clarendon Trust Ltd have indicated that they will provide ongoing financial support for at least 12 months from the date of this report.
RESERVES POLICY
The trustees have formulated a reserves policy in line with Charity Commission guidance. It is the trustees’ intention to create free reserves sufficient to enable the trust to meet its recurring expenditure for the foreseeable future. At year end unrestricted reserves of £50,933 cover more than three months of current expenditure.
PLANS FOR FUTURE YEARS
Friends First hopes to be able to relaunch its pathway to employment project that provides work experience and training to the homeless & long-term unemployed. We are in discussions with Holland Road and other CAB (Christian Action Brighton) Churches about how best to do this.
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FRIENDS FIRST
Trustees’ Report – continued
Chariot House Limited have been appointed as independent examiners via a resolution at the Annual General Meeting.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.
Approved by the trustees on 25[th] March 2025 and signed on their behalf by
William Bigwood Chair of Trustees
21/23 Clarendon Villas Hove East Sussex BN3 3RE
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INDEPENDENT EXAMINER’S REPORT TO THE SOLE MEMBER OF FRIENDS FIRST
I report to the charity trustees on my examination of the accounts of Friends First for the year ended 31 August 2024.
Responsibilities and basis of report
As the charity trustees of Friends First you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of Friends First’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Dr Shona Wardrop C.A. 44 Grand Parade Brighton East Sussex BN2 9QA
Date: 25[th] March 2025
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FRIENDS FIRST
Statement of Financial Activities for the year ended 31 August 2024
| Notes INCOME AND EXPENDITURE ACCOUNT Incoming resources from generated funds Voluntary income 2 Activities for generating funds Incoming resources from charitable activities 4 Total incoming resources Resources expended Cost of generating funds Fundraising and publicity Charitable activities Housing & Employment Support 5 Total resources expended Net movement in funds Fund balances brought forward at 1 September 2023 Fund balances carried forward at 31 August 2024 |
2024 £ 71,186 24,920 32,555 128,660 - 133,605 133,605 (4,944) 55,877 50,933 |
2023 £ 90,102 18,613 30,361 139,076 - 121,648 121,648 17,428 38,449 55,877 |
|---|---|---|
All funds are unrestricted.
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The Statement of Financial Activities reflects the results of continuing activities for the year. There were no recognised gains or losses for the year other than those shown on the Statement of Financial Activities.
The notes on pages 10 to 15 form part of these financial statements.
FRIENDS FIRST
Company number: 4402061
Balance Sheet at 31 August 2024
| Notes | Notes | 2024 | 2023 | ||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| CURRENT ASSETS | |||||
| Debtors | 7 | 672 | 825 | ||
| Cash at bank and in hand | 57,279 | 72,098 | |||
| ────── | ────── | ||||
| 57,951 | 72,923 | ||||
| CREDITORS - AMOUNTS FALLING | |||||
| DUE WITHIN ONE YEAR | 8 | (7,018) | (17,046) | ||
| ────── | ────── | ||||
| NET CURRENT ASSETS | 50,933 | 55,877 | |||
| ───── | ───── | ||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 50,933 |
36,907 |
|||
| FUNDS | |||||
| Unrestricted funds | |||||
| General fund | 9 | 49,478 | 54,422 | ||
| Designated funds | 9 | 1,455 | 1,455 | ||
| ───── | ───── | ||||
| TOTAL FUNDS | 50,933 | 55,877 | |||
| ═════ | ═════ |
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company to obtain an audit of its financial statements for the year in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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(a) ensuring the company keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus and deficit for each financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as applicable to the company.
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the trustees, signed on their behalf by and authorised for issue on 25[th] March 2025.
William Bigwood Chair of Trustees
The notes on pages 10 to 15 form part of these financial statements.
FRIENDS FIRST
Cash Flow Statement for the year ended 31 August 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Reconciliation of net movement in funds | £ | £ |
£ | £ |
| to net cash flows from operating | ||||
| activities | ||||
| Net movement in funds | (4,944) | 17,428 | ||
| Depreciation | - | - | ||
| Decrease/(increase) in debtors | 154 | 11,382 | ||
| Increase/(decrease) in creditors | (10,028) | 7,293 | ||
| ────── | ────── | |||
| Net cash outflow from operating | (14,819) | 36,093 | ||
| activities | ||||
| Capital expenditure | ||||
| Purchase of tangible fixed assets | - | - | ||
| ────── | ────── | |||
| Net cash outflow from capital | - | - | ||
| expenditure | ||||
| ────── | ────── | |||
| Increase/(decrease) in cash in the year | (14,819) | 36,093 | ||
| ══════ | ══════ | |||
| Reconciliation of net cash flow to | ||||
| movement in net cash funds | ||||
| Net funds at beginning of the year | 72,098 | 36,005 | ||
| Change in net funds during the year | (14,819) | 36,093 | ||
| ══════ | ────── | |||
| Net funds at end of the year | 57,279 | 72,098 | ||
| ══════ | ══════ |
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FRIENDS FIRST
Notes to the Financial Statements for the year ended 31 August 2024
1 ACCOUNTING POLICIES
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and the Companies Act 2006. The financial statements have been prepared under the historical cost convention
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees do not consider that Covid 19 will have a significant impact on the charity for the following reasons:
In light of the above and following a review of our financial position, reserves and future plans, the trustees have confidence the charity will remain a going concern for the foreseeable future.
(a) Incoming resources
Income is recognised when the charity is legally entitled 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 receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Gifts in kind are included at estimated market value.
(b) Resources expended
Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is recognised on an accruals basis and is allocated between cost of generating funds, charitable expenditure, support costs and governance of the charitable company. Overhead and
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support costs have been allocated to charitable expenditure.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office and governance costs. They are incurred directly in support of expenditure on the objects of the charity.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.
FRIENDS FIRST
Notes to the Financial Statements for the year ended 31 August 2024
(c) Voluntary assistance
A certain amount of time is expended by volunteers on the charitable company's activities which is donated free of charge. It is not possible to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements.
(d) Taxation
The company is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly the company is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax arose in the year.
(e) Pensions
The charitable company contributes to defined contribution pension schemes. The charge to the Statement of Financial Activities for 2024 was £6,022 (2023 - £5,929).
(f) Fund accounting
An explanation of the nature and purpose of each fund is included in the notes to the financial statements. Funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
All funds held are unrestricted funds.
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FRIENDS FIRST
Notes to the Financial Statements for the year ended 31 August 2024
| 2 VOLUNTARY INCOME 2024 £ Housing and Employment Support General Income 71,186 Donated facilities - ────── 71,186 3 GRANTS RECEIVED During the year the following grants above £2,000 were received: Garfield Weston £10,00 0 Sussex Community Foundation £9,804 Derek & Eileen Dodgson £3,000 4 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES 2024 £ Housing and Work Support Local authority funding 32,555 Other funding - ────── 32,555 |
2023 £ 90,102 - ────── 90,102 2023 £ 30,361 - ────── 30,361 |
|---|---|
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FRIENDS FIRST
Notes to the Financial Statements for the year ended 31 August 2024
5 RESOURCES EXPENDED ON CHARITABLE ACTIVITIES
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Direct Costs: | ||
| Direct staff costs | 56,971 | 53,129 |
| Other direct costs | 74,159 | 66,301 |
| _ | _ | |
| 131,130 | 119,430 | |
| Support costs: | ||
| Support staff costs | - | - |
| Other support costs | 2,475 | 2,218 |
| Depreciation | - | - |
| ────── | ────── | |
| 133,605 | 121,648 |
Other support costs include independent examiner’s fees of £1,600.
6 TRUSTEES AND STAFF COSTS
No trustees received or waived salary or expenses from the company during the year.
Staff costs
Gross salaries Social security costs Pension costs |
2024 £ 47,558 3,390 6,022 ───── 56,971 |
2023 £ 43,698 3,502 5,929 ───── 53,129 |
|---|---|---|
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Total paid to key management personnel was £42,105 (2023: £38,671 restated).
The average number of persons employed by the charitable company during the year was as follows:
| as as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| Housing and work support | 2 | 2 |
No employees had emoluments in excess of £60,000: nil (2022/23: nil).
FRIENDS FIRST
Notes to the Financial Statements for the year ended 31 August 2024
7 DEBTORS
| 2024 | 2023 | |
|---|---|---|
| £ |
£ | |
| Other Debtors | 672 | 825 |
8 CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 7,018 | 17,046 |
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UNRESTRICTED FUNDS
| Balance at 1 September 2023 £ General fund 54,422 Specific Project fund 1,455 ───── 55,877 |
Movement in resources Incoming Outgoing Transfers £ £ £ 128,660 133,605 - - - - ────── ────── ────── 128,660 133,605 - |
Balance at 31 August 2024 £ 49,478 1,455 ───── 50,933 |
|---|---|---|
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| Balance at 1 September 2022 £ General fund 36,994 Specific Project fund 1,455 ───── 38,449 |
Movement in resources Incoming Outgoing Transfers £ £ £ 139,076 121,648 - - - - ────── ────── ────── 139,076 121,648 - |
Balance at 31 August 2023 £ 54,422 1,455 ───── 55,877 |
|---|---|---|
The designated fund was established to specifically develop Social Enterprise initiatives.
FRIENDS FIRST
Notes to the Financial Statements for the year ended 31 August 2024
10 CONNECTED CHARITY
The charitable company is connected with Clarendon Trust Limited (of 21-23 Clarendon Villas, Hove, East Sussex, BN3 3RE) in that the charities have common trustees and Clarendon Trust Ltd is the sole corporate member of Friends First.
11 CHARITABLE COMPANY STATUS
The charitable company does not have a share capital and the liabilities of its sole member are limited to the guarantee of up to a maximum of £10.
12 RELATED PARTY TRANSACTIONS
There were no related party transactions during the year.
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