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← ECHO for Extra Choices in Herefordshire Limited

2024-03-31-accounts

Company no. 04475254 Charity no. 1096449

ECHO for Extra Choices in Herefordshire Limited Report and Unaudited Financial Statements 31 March 2024

ECHO for Extra Choices in Herefordshire Limited

Reference and administrative details

Reference and administrative details Reference and administrative details
For theyear ended 31 March 2024
Company number 04475254
Charity number 1096449
Registered office and 40-42 West Street
operational address Leominster
Herefordshire
HR6 8ES
Secretary Mike Cook
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Caroline Arthur Chair
Christopher Blum Resigned 31 October 2023
John Bradford
Clare Cathcart Appointed 7 December 2023
Beverlie Davies
Jeremy Gray
Judith Haines Appointed 7 December 2023
Amanda Hamblin
Joy House
Matthew Jones
Jason Stuchbery
Blaise White Treasurer
Johanna Woodall Appointed 7 December 2023
Chief executive officer Mike Cook
Bankers CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Independent Godfrey Wilson Limited
Examiner Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of ECHO for Extra Choices in Herefordshire Limited (the company) for the year ended 31 March 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and activities

Purposes and aims

Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are:

We want to make a positive difference to the lives of people with disabilities in Herefordshire, supporting them to both feel and be valued members of the community. Our aims fully reflect the purposes that the charity was set up to further.

Ensuring our work delivers our aims

We review our aims, objectives and activities regularly. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The focus of our work

ECHO for Extra Choices in Herefordshire Limited (ECHO) is a forward thinking organisation that promotes and delivers services for disabled people in Herefordshire and surrounding areas.

2

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

We have a vision of a society where all people with disabilities are heard, valued, respected and supported to make choices and flourish. To achieve this we have created 7 strategic aims:

How our activities deliver public benefit

Our main activities and whom we try to help are described below. All our charitable activities focus on improving the lives of disabled people in Herefordshire and are undertaken to further our charitable purposes for the public benefit.

Who used and benefited from our services?

Our objects and funding allow us to provide services to residents in Herefordshire and the surrounding area. We currently have 82 members and 149 people attending our day services. In addition approximately 100 other people access our services on an ad hoc basis. The majority of those who access our day services are funded via Council’s Adult Social Care services either through commissioned service or direct payments. A much smaller group fund their place from their own income or purchase additional services above what the Council support. Leisure and social activities are charged on attendance and fees are set to keep them accessible to those with modest income.

Equal access to our services is an important issue for us. We monitor use of our services by gender, disability, ethnicity and sexual orientation. We believe equal access to our services is vital to our success and that successful outcomes must be shared by all communities that use our services.

3

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

The main areas of our charitable activity and services are separated into four areas:

1. Community activities

Community activities are those where people are receiving a regular service and have a contract in place. These services are funded through personal budgets, social care spot purchases and selffunders.

They continue to be the main area of our business and we run activities 5 days a week. 149 people currently attend our day services, which is the major source of our funding. In total, we provided over 59,000 hours of service during the year. Our contractual services are supported by 48 staff and 116 active volunteers, of whom 62 are supported volunteers. All our day services aim to support participants to learn new skills, grow in self-confidence and be seen to be actively contributing to the local community.

Community activities support individuals to play an active part in their local area; make friends; get involved and positively contribute to local community life. By giving back to their community our participants feel valued and grow in confidence.

2. Leisure and social activities

Leisure, social and other activities are drop in, pay as you go activities, which we support from fees, organisational funds or small grants. Our leisure and social activities are wide ranging, run at a variety of times and priced competitively. Through taking part, participants can improve their mental and physical well-being, build friendships and access community activities.

3. Volunteer recruitment and support

Volunteers are a vital part of our organisation. Without them, we would not be able to deliver the range and quality of services that we do. Volunteers allow us to work more flexibly, and bring a depth of experiences and backgrounds, which enrich our organisation.

Volunteering benefits everyone. Our participants get to work with a variety of individuals and widen their horizons through the experience and knowledge our volunteers bring. Volunteers working with ECHO have the opportunity to build their own skills and experience and support others, which can help prepare them for employment or other opportunities.

Our Inclusive Volunteering Project funded by the National Lottery Community Fund encouraged volunteering from individuals with additional support needs. We encouraged our own participants to volunteer within ECHO and worked with partners to provide opportunities outside of the organisation. Incorporating volunteers with their own support needs is not always easy, but it is both the right thing to do and, with the correct support, something that can be beneficial to organisations, individuals and communities.

Following the end of the Inclusive Volunteering project, we were very pleased to receive further lottery funding for a new Steps to Employment Project. This builds upon the work already carried out but goes further looking to support individuals into work or work experience. Its aim is to help people to progress towards the independence that they want.

4. Participant involvement

ECHO believes that disabled people should be able to play an active part in decisions that affect their lives. We therefore have a strong commitment to participant involvement in all aspects of our work.

4

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

This commitment is demonstrated throughout the organisation:

Financial review

Principal funding sources

The principal funding sources for the charity are currently grants income (£151,512) and fees income in the form of Commissioned funding from Herefordshire Council, Direct Payments and individual self-funders (£595,162).

ECHO has continued its efforts to diversify income, developing and implementing a fundraising strategy.

Investment policy

ECHO has invested £185,000 of its cash assets to provide income for expenditure on our charitable objectives. The trustees are governed by the memorandum, amended on 10 December 2021, which sets out a general power of investment (section 4(h)). ECHO’s assets are invested in short to medium term deposit accounts.

ECHO seeks to produce the best financial return within an acceptable level of risk. ECHO's investment objective is to maximise investment income for expenditure on its running costs.

No single deposit will exceed the value covered by the Financial Services Compensation Scheme to mitigate risk and protect the investment. The value and income generated from investments is monitored by the finance officer and reviewed annually by the finance subcommittee of the Board of Trustees.

Reserves policy

ECHO reserves are held to help protect the organisation’s sustainability and facilitate development. Our target level of reserves is £338,147. This is the amount needed to meet 6 months’ core salaries and running costs needed to wind the organisation down in a controlled manner as a responsible charity, and non-cancellable debt.

5

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

In 2024/25 we will have the following factors to navigate:

Free reserves stand at £465,854 (2023: £590,638), calculated as the unrestricted funds, less the designated funds and the tangible fixed assets. This is above the current target level, mostly due to the legacy that was received in the prior year.

The Trustees are looking at how best to utilise these additional funds to:

Due to the current pressures on funding and the wider increases in prices such as utilities, holding increased reserves helps us to ride out this volatile period whilst we look at the longer-term solutions. This includes reviewing structure, costs and income.

ECHO is working hard to diversify our income and develop more stable funding streams such as fees and sales. As well as working internally on this, ECHO is also collaborating with other providers through a consortium called ‘Herefordshire Activities Together’ to lobby for improvements in services and reviews of fees.

The Trustees are committed to reviewing reserve levels alongside the budget for 2024/25 to ensure that they are held at an appropriate level to meet future commitments and that any excess is used to develop the organisation and services.

Going concern basis of accounting

The Trustees have considered the impact of this issue on the charity’s current and future financial position. The charity holds unrestricted general reserves of £465,854 and designated reserves of £50,741 that can be drawn down as necessary. Cash and current asset investment balances at 31 March 2024 are £561,295.

The trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For this reason, the accounts have been prepared on the going concern basis.

Plans for future periods

With a significant deficit this year the focus in 2024/25 is to move us towards sustainability. Though times are hard with regards to costs and fundraising, we believe that the creative potential of ECHO offers good opportunities to grow our market share and maximise the resources we have. A key target of this will be to attract younger participants to the activities that we provide.

We have seen a significant increase in the cost of living in the last 12 months and expect this to continue in 2024/25. We will therefore have to work harder to recover these costs through our activities.

6

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

Property is a key issue and was identified as part of our structure review as a restriction on services and development. We are therefore going to explore opportunities to secure our current properties and take on new spaces to allow ECHO to grow and thrive.

Structure, governance and management Governing document

The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and appointment of board of trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. ECHO is required to have a minimum of 3 and a maximum of 15 Trustees. Trustees are elected at the Annual General Meeting. One third of the Trustees retire each year. The Trustees to retire each year are those who have been Trustees the longest (since their last election). If a Trustee retires by rotation, they may be put forward for re-election.

All Trustees must be members of ECHO. A member may be appointed Trustee if they are an existing Trustee retiring by rotation; or they are recommended by the other Trustees; or they are nominated in writing by another member. The nomination must be sent to ECHO not less than 14 days, nor more than 35 days before the date of the meeting. The nominated Trustee must also sign to say they are willing to be elected.

The Board seeks to ensure that the participant group is appropriately reflected in the diversity of the Trustee body. The Board actively encourages its participants to consider standing for election and provides a range of advocacy support to meet the needs of individuals putting themselves forward.

Trustee induction and training

All Trustees are given a full induction pack outlining their roles and responsibilities as Trustees and Directors of the company. All Trustees are offered the opportunity to attend external trustee training sessions. Every week we run a Trustee support meeting for participant Trustees or any other Trustees with additional support needs.

To help ensure our board has the skills it needs to guide the organisation we have set up a Trustee Development group to look at issues like recruitment and skills gaps.

Risk management

The Trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated regularly and reviewed at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

7

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, beneficiaries and visitors. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

Organisational structure

ECHO has a Board of Trustees who meet at least every 3 months and are responsible for the strategic direction and policy of the charity. At present, the Board has twelve members from a variety of backgrounds relevant to the work of the charity. The Chief Executive Officer/ Company Secretary also sits on the Committee but has no voting rights. There are currently 4 sub-groups of the board (Finance, HR, Trustee Development, and Quality). All have their own terms of reference and delegated powers.

Day to day responsibility for the running of the charity and its services rests with the Chief Executive Officer and the staff team. The Chief Executive Officer is responsible for ensuring that the charity delivers the services specified and that key outcomes are met.

Quality assurance

ECHO undertook reassessment for the Trusted Charity Mark in 2020 and was pleased to be awarded the highest level 2 award. This runs out in 2024 and we are looking at alternative programmes to assess our performance as an organisation.

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

8

ECHO for Extra Choices in Herefordshire Limited

Report of the trustees

For the year ended 31 March 2024

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent Examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 10 October 2024 and signed on their behalf by

Blaise White

Blaise White - Treasurer

9

Independent examiner's report

To the trustees of

ECHO for Extra Choices in Herefordshire Limited

I report to the trustees on my examination of the accounts of ECHO for Extra Choices in Herefordshire Limited (the charitable company) for the year ended 31 March 2024, which are set out on pages 11 to 29.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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:

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.

Alison Godfrey

Date: 10 October 2024 Alison Godfrey FCA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

10

ECHO for Extra Choices in Herefordshire Limited

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2024

Note
Income from:
Donations
3
Charitable activities
4
Other trading activities
5
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
7
15
8
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure)
Net movement in funds
Transfers between funds		 Restricted
£
48,771
188,885
-
-
237,656
-
227,868
227,868
9,788
16,244
26,032
59,245
85,277		 Unrestricted
£
34,743
557,789
47,933
12,634
653,099
68,962
671,901
740,863
(87,764)
(16,244)
(104,008)
621,394
517,386		 2024
Total
£
83,514
746,674
47,933
12,634
890,755
68,962
899,769
968,731
(77,976)
-
(77,976)
680,639
602,663		 2023
Total
£
412,938
774,912
56,032
3,900
1,247,782
52,942
887,055
939,997
307,785
-
307,785
372,854
680,639

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

11

ECHO for Extra Choices in Herefordshire Limited

Balance sheet

As at 31 March 2024

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Current asset investments
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
68,579
185,000
376,295
629,874
(27,211)		 2024
£
-
602,663
602,663
85,277
50,741
466,645
602,663		 2023
£
-
214,504
85,000
419,986
719,490
(38,851)
680,639
680,639
59,245
30,756
590,638
680,639

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 10 October 2024 and signed on their behalf by

Blaise White

Blaise White - Treasurer

12

ECHO for Extra Choices in Herefordshire Limited

Statement of cash flows

For the year ended 31 March 2024

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Decrease) / increase in debtors
(Decrease) / increase in creditors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Increase 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
Represented by:
Current asset investments
Cash at bank and in hand		 2024
£
(77,976)
-
(12,634)
145,925
(11,640)
43,675
12,634
56,309
504,986
561,295
2024
£
185,000
376,295
561,295		 2023
£
307,785
1,199
(3,900)
(169,937)
3,272
138,419
3,900
142,319
362,667
504,986
2023
£
85,000
419,986
504,986

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

13

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies

a) Basis of preparation

ECHO for Extra Choices in Herefordshire Limited is a charitable company limited by guarantee registered in England and Wales. The registered office address is 40-42 West Street, Leominster, Herefordshire, HR6 8ES.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

ECHO for Extra Choices in Herefordshire Limited 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 note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

14

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued)

d) Donated services and facilities (continued)

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of staff cost by each activity as follows:

2024 2023
Raising funds 8.2% 6.2%
Charitable activities 91.8% 93.8%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Fixtures and fittings

3 years straight line

j) Stock

Donated items of stock for resale or distribution are not included in the financial statements until they are sold or distributed because the trustees consider it impractical to be able to assess the amount of donated stocks as there are no systems in place which record these items until they are sold and undertaking a stock take would incur undue cost for the charity which far outweigh the benefits.

15

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued)

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m) Current asset investments

Deposit accounts and other liquid unlisted investments with a maturity date of more than three months from the date of acquisition or opening of the account are deemed to be held for investment and are therefore classified as current asset investments.

n) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments

The charitable 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 recognised at amortised cost using the effective interest method.

p) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

q) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

r) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

16

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

2. Prior period comparatives: statement of financial activities

Prior period comparatives: statement of financial activities
Restricted
£
£
Income from:
Donations
11,084
401,854
Charitable activities
175,827
599,085
Other trading activities
-
56,032
Investments
-
3,900
Total income
186,911
1,060,871
Expenditure on:
Raising funds
-
52,942
Charitable activities
208,239
678,816
Total expenditure
208,239
731,758
Net expenditure and net movement in funds
(21,328)
329,113
Income from donations
2024
Restricted
Total
£
£
£
Donations
48,771
34,743
83,514
Legacies
-
-
-
Total income from donations
48,771
34,743
83,514
Unrestricted
Unrestricted		 2023
Total
£
412,938
774,912
56,032
3,900
1,247,782
52,942
887,055
939,997
307,785
2023
Total
£
59,561
353,377
412,938

3. Income from donations

£11,084 of donations in the prior period were restricted.

4. Income from charitable activities

Grants
Fees for activities
Total income from charitable activities		 Restricted
£
£
100,512
51,000
88,373
506,789
188,885
557,789
Unrestricted		 2024
Total
£
151,512
595,162
746,674

17

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

4. Income from charitable activities (continued)

Income from charitable activities (continued)
Prior period comparative
Grants
Fees for activities
Contracts
Total income from charitable activities		 Restricted
£
£
175,827
104,063
-
489,576
-
5,446
175,827
599,085
Unrestricted		 2023
Total
£
279,890
489,576
5,446
774,912

5. Income from other trading activities

Shop, cafe and theatre sales 2024
Total
£
47,933		 2023
Total
£
56,032

All other trading income in the current and prior period was unrestricted.

6. Government grants

The charitable company received government grant income in the year from Arts Council England. The total value of such grants in the period ending 31 March 2024 was £4,665 (2023: £18,658). There were no unfulfilled conditions or contingencies attaching to these grants in either years.

18

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

7. Total expenditure

Total expenditure
Staff costs (note 9)
Other staff costs
Premises
Office
Equipment
Fees & charges
Trustee expenses
Fundraising expenses
Project costs
Marketing & promotion
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising funds
£
45,481
50
-
355
-
154
-
1,317
1,090
588
49,035
19,927
68,962		 Charitable
activities
£
510,780
10,397
71,476
16,147
7,879
40,117
-
-
16,650
2,536
675,982
223,787
899,769		 Support and
governance
costs
£
192,728
3,428
12,063
28,538
222
3,498
1,514
-
1,723
-
243,714
(243,714)
-		 2024 Total
£
748,989
13,875
83,539
45,040
8,101
43,769
1,514
1,317
19,463
3,124
968,731
-
968,731

Total governance costs were £3,078 (2023: £6,551)

19

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

7. Total expenditure (continued) Prior period comparative

Staff costs (note 9)
Other staff costs
Premises
Office
Equipment
Fees & charges
Trustee expenses
Fundraising expenses
Project costs
Marketing & promotion
Depreciation
Sub-total
Allocation of support and governance costs
Total expenditure		 Raising funds
£
28,856
-
-
109
-
-
-
4,417
185
40
-
33,607
19,335
52,942		 Charitable
activities
£
433,625
9,372
52,956
9,848
4,434
40,978
-
-
44,072
-
1,199
596,484
290,571
887,055		 Support and
governance
costs
£
217,354
8,708
44,081
31,591
138
7,233
801
-
-
-
-
309,906
(309,906)
-		 2023 Total
£
679,835
18,080
97,037
41,548
4,572
48,211
801
4,417
44,257
40
1,199
939,997
-
939,997

20

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

8. Net movement in funds

This is stated after charging:

Depreciation
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration (excluding VAT):
Audit
Independent examination		 2024
£
-
Nil
1,515
-
2,000		 2023
£
1,199
Nil
801
5,750
-

During the year, two trustees (2023: two trustees) had expenses reimbursed relating to postage and stationery, and travel.

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Subtotal: staff costs before relief staff
Add: relief staff
Total staff costs:		 2024
£
691,856
42,259
14,874
748,989
-
748,989		 2023
£
603,768
39,484
13,963
657,215
22,620
679,835

Relief staff costs are charged to the activity to which they relate.

No employee earned more than £60,000 during the current or prior year. The key management personnel of the charitable company comprise the Trustees, the Chief Executive Officer and the two Deputy Chief Executive Officers. The total employee benefits of the key management personnel were £110,257 (2023: £98,760).

Average head count 2024
No.
54		 2023
No.
47

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

21

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

11. Tangible fixed assets
Cost
At 1 April 2023 and 31 March 2024
Depreciation
At 1 April 2023 and 31 March 2024
Net book value
At 1 April 2023 and 31 March 2024
12. Debtors
Trade debtors
Prepayments and accrued income
Other debtors
13. Creditors : amounts due within 1 year		 11. Tangible fixed assets
Cost
At 1 April 2023 and 31 March 2024
Depreciation
At 1 April 2023 and 31 March 2024
Net book value
At 1 April 2023 and 31 March 2024
12. Debtors
Trade debtors
Prepayments and accrued income
Other debtors
13. Creditors : amounts due within 1 year		 £
5,399
5,399
-
2024
2023
£
£
58,311
45,726
6,422
167,529
3,846
1,249
68,579
214,504
Fixtures and
fittings		 £
5,399
5,399
-
2024
2023
£
£
58,311
45,726
6,422
167,529
3,846
1,249
68,579
214,504
Fixtures and
fittings
5,399
-
2023
£
45,726
167,529
1,249
214,504
Trade creditors
Accruals
Other taxation and social security
Other creditors		 2024
£
15,418
6,478
-
5,315
27,211		 2023
£
14,643
7,200
10,846
6,162
38,851
Creditors : amounts due within 1 year
2024 2023
£ £
Trade creditors 15,418 14,643
Accruals 6,478 7,200
Other taxation and social security - 10,846
Other creditors 5,315 6,162
27,211 38,851

22

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

14. Analysis of net assets between funds

14. Analysis of net assets between funds
Current assets
Current liabilities
Net assets at 31 March 2024
Prior period comparative
Current assets
Current liabilities
Net assets at 31 March 2023
15. Movements in funds
At 1 April
2023
£
Restricted funds
Eveson
22,972
3,756
EF Bulmer
-
Arts Council
3,049
Acheeva Bed
791
SCREWFIX
647
HSBC
2,072
Rowlands Trust
-
Postcode Lottery
-
Connexus
-
Good Things Foundation
5,000
The D'Oyly Carte Charitable Trust
-
WA Cadbury Trust
14,000
Edward Cadbury
-
StEP Project (Lottery Fund)
-
York University 'I'm me'
-
Mumford Memorial/Ludlow Trust
-
Oliver Ford Foundation/Macfarlanes
-
About Face Restricted
1,293
Rose Tinted Tags
-
Friday Lifelinks (Restricted)
232
Big Lottery Fund (Inclusive
Volunteering)		 £
£
85,277
50,741
-
-
85,277
50,741
£
£
59,245
30,756
-
-
59,245
30,756
Income
£
£
-
(22,972)
-
(20,000)
6,000
(1,000)
4,665
(7,714)
-
(791)
-
-
-
-
-
-
-
-
-
1,000
-
(2,322)
-
-
-
(13,545)
5,000
(5,000)
54,028
(51,628)
6,353
(3,579)
10,000
(4,000)
5,196
(433)
25,220
(4,606)
43,176
(33,695)
26,868
(22,486)
Restricted
funds
Designated
funds
Restricted
funds
Designated
funds
Expenditure		 Total
funds
£
£
493,856
629,874
(27,211)
(27,211)
466,645
602,663
Total
funds
£
£
629,489
719,490
(38,851)
(38,851)
590,638
680,639
£
£
-
-
16,244
-
-
5,000
-
-
-
-
-
647
-
2,072
-
-
-
-
-
1,000
-
2,678
-
-
-
455
-
-
-
2,400
-
2,774
-
6,000
-
4,763
-
21,907
-
9,481
-
4,614
General
funds
General
funds
Transfers
between
funds
At 31 March
2024		 Total
funds
£
629,874
(27,211)
602,663
Total
funds
£
719,490
(38,851)
680,639

23

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued)

Movements in funds (continued)
Restricted funds (continued)
Wednesday Lifelinks
Clever Betsy (Restricted)
Priory (Restricted)
Eaton Barn (Restricted)
Studio Mirai (Restricted)
Saxon Hall Café (Restricted)
Restricted Radio ECHO
Co-Op Local Community Funding
Sunday Company
Total restricted funds
Designated funds:
About Face Theatre Company
Smart Arts Storytelling project
Clever Betsy Crafts & Retail
Saxon Hall Café
Craft projects & activities
Sport & Leisure
Echo Shop
Activities Online Social and Leisure
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds
Friday Lifelinks supported
volunteering		 At 1 April
2023
£
-
12
553
1,683
1,395
1,790
-
-
-
59,245
-
7,202
2,110
-
2,473
13,635
4,552
784
-
30,756
590,638
621,394
680,639		 Income
£
£
18,328
(18,328)
-
-
4,541
(3,115)
14,424
(6,296)
456
-
-
-
6,544
(2,894)
4,410
(4,410)
2,447
(54)
237,656
(227,868)
109,647
(122,443)
-
(3,665)
9,862
(11,769)
66,319
(94,521)
-
-
15,864
(10,415)
41,078
(25,844)
7,993
(6,108)
3,018
(29)
253,781
(274,794)
399,318
(466,069)
653,099
(740,863)
890,755
(968,731)
Expenditure		 £
£
-
-
-
12
-
1,979
-
9,811
-
1,851
-
1,790
-
3,650
-
-
-
2,393
16,244
85,277
12,796
-
-
3,537
-
203
28,202
-
-
2,473
-
19,084
-
19,786
-
2,669
-
2,989
40,998
50,741
(57,242)
466,645
(16,244)
517,386
-
602,663
Transfers
between
funds
At 31 March
2024
85,277
-
3,537
203
-
2,473
19,084
19,786
2,669
2,989
50,741
466,645
517,386
602,663

Transfers from general funds to designated or restricted funds represent topping up of overspent funds.

Purposes of restricted funds Eveson

To part-fund the salary and other costs of our Participant involvement office. Her work enables people with learning disabilities to be active members of the board. Our participant involvement work supports disabled people to shape services and help build their confidence. Also contribution to the salary of the Deputy Chief Officer for Social Enterprise to help support and develop these services.

24

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued) Purposes of restricted funds (continued) Big Lottery Fund (Inclusive Volunteering)

Year 5 of a 5 year “Inclusive Volunteering” grant to support the role of volunteer co-ordinator and monitoring officer to recruit volunteers across the county, support existing volunteers and develop training and support.

EF Bulmer

Contribution towards the general running costs of the project including salaries, rent & rates, utilities & housekeeping, materials & supplies, and management charges.

Arts Council

Support for About Face, our theatre company to help the actors and staff develop new skills and confidence post COVID.

Acheeva Bed

To purchase a HI/LOW bed to enable relaxation, subsequent maintenance costs, and additional sensory items for the room.

SCREWFIX

Funding to improve our furniture upcycling project Studio Mirai including the provision of external storage to better manage donations and development of our outdoor space to enable outdoor working.

HSBC

Funding to improve facilities at our Clever Betsy project and refurbishment of the ECHO shop hub.

Rowlands Trust

Funding for technical equipment, IT support and licences.

Postcode Lottery

To support the core costs of co-ordinating our social and leisure activities.

Connexus

To run a pilot project to develop radio ECHO, a participant led online news and music show.

Good Things Foundation

Increase digital capability, including training and infrastructure improvement.

The D'Oyly Carte Charitable Trust

To improve the infrastructure at Eaton Barn including a compost toilet.

WA Cadbury Trust

Support for the About Face Theatre Company.

Edward Cadbury

Funding to support the Clever Betsy project in general.

25

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued)

Purposes of restricted funds (continued) StEP Project (Lottery Fund)

The project is a national lottery community fund supported programme. Supporting individuals as volunteers throughout Echo projects and the community to gain work experience and employment opportunities for people with disabilities.

York University 'I'm me'

Works with learning disabled and autistic artists via our theatrical project, About Face, as peer and creative researchers to explore questions of identity, representation and voice.

Mumford Memorial/Ludlow Trust

Has provided funding for our Lifelinks programmes. The include cooking, community activities such as Herefordshire Community Reuse and Recycle. The projects have a wide variety of activities each week.

Oliver Ford Foundation/Macfarlanes

Financial support for generic expenditure at Studio Mirai.

About Face Restricted

Funds raised for the About Face Theatre Company.

Rose Tinted Tags

Funds raised for the Rose Tinted Rags, creative arts project and vintage textile shop.

Friday Lifelinks

Funds raised by the project to support additional materials.

Wednesday Lifelinks

Funds raised by the project to support additional materials.

Clever Betsy

Funds raised by project to support an outing.

Priory

Funds raised to support participants specific activities within the Priory Project.

Eaton Barn

Funding to purchase items of equipment for our Eaton Barn project.

Studio Mirai

Funds raised by the project to support activities.

Saxon Hall Café

Funds raised by the project to support activities.

Restricted Radio ECHO

Funds raised by the project to support activities.

26

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued) Purposes of restricted funds (continued) Co-Op Local Community Funding

These are funds donated to activities/projects throughout the whole of ECHO.

Sunday Company

Funds raised to support the project activities.

Purposes of designated funds

About Face Theatre Company

The theatre company works with actors with learning disabilities delivering high quality theatre to festivals, community halls and other venues.

Friday Lifelinks

Providing voluntary community support, doing shopping for older or housebound people, arts and craft activities, and cooking and eating together. They are active fundraisers, hosting coffee mornings and market stalls to raise money for their project and ECHO.

Smart Arts Storytelling project

A storytelling group helping to develop imagination and memory. Discovering hidden talent through song, signing, music and art.

Clever Betsy Crafts & Retail

Making and selling a range of crafts from cards to rugs. The group learn a variety of skills in craft making and sort donated goods to sell in the retail shop. Learning to serve customers.

Saxon Hall Café

Formerly based Saxon Hall, this group has become a cookery club teaching participants new culinary skills and promoting healthy balanced diets.

Craft projects & activities

Offering various craft opportunities to adults with learning disabilities based across Hereford and Leominster, including weaving, and developing craft skills with materials.

Sport & Leisure

Supporting a range of sport and leisure activities for adults with learning disabilities, football, tennis, yoga, and club nights.

Echo Shop

Supporting a range of sport and leisure activities for adults with learning disabilities, football, tennis, yoga, and club nights.

Activities Online Social and Leisure

Activities held online such as Quiz nights, Women's evening, and house party.

27

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued) Prior period comparative

Restricted funds
Eveson
EF Bulmer
Arts Council
Edward Gosling Foundation
Acheeva Bed
SCREWFIX
HSBC
Tackling Inequalities Fund
Postcode Lottery
Connexus
Good Things Foundation
The D'Oyly Carte Charitable Trust
WA Cadbury Trust
About Face Restricted
Friday Lifelinks (Restricted)
Clever Betsy (Restricted)
Priory (Restricted)
Eaton Barn (Restricted)
Studio Mirai (Restricted)
Saxon Hall Café (Restricted)
ECHO Shop (Restricted)
Total restricted funds
Designated funds:
About Face Theatre Company
Smart Arts Storytelling project
Clever Betsy Crafts & Retail
Saxon Hall Café
Craft projects & activities
Sport & Leisure
Echo Shop
Total designated funds
Wednesday Lifelinks supported
volunteering
Friday Lifelinks supported
volunteering
Big Lottery Fund (Inclusive
Volunteering)
Unrestricted funds		 At 1 April
2022
£
9,314
4,911
-
22,246
-
1,991
2,582
4,752
4,502
15,988
2,943
-
-
-
-
232
288
1,000
7,700
-
2,124
-
80,573
(16)
499
494
501
1,000
811
3,518
41
-
6,848		 Income
£
£
25,000
(11,342)
76,902
(78,057)
7,500
(7,500)
18,658
(37,855)
10,000
(10,000)
-
(1,200)
-
(1,935)
-
(2,680)
-
(4,502)
-
(15,988)
2,156
(5,099)
5,000
-
6,000
(6,000)
20,000
(6,000)
4,032
(2,739)
200
(200)
-
(276)
3,000
(3,447)
6,213
(12,230)
2,000
(605)
-
(334)
250
(250)
186,911
(208,239)
85,001
(88,134)
22,479
(23,443)
28,481
(21,773)
11,637
(10,028)
58,277
(66,121)
8,085
(6,423)
61,100
(50,983)
16,947
(12,436)
11,543
(10,759)
303,550
(290,100)
Expenditure		 £
£
-
22,972
-
-
-
3,756
-
-
-
3,049
-
-
-
791
-
647
-
2,072
-
-
-
-
-
-
-
5,000
-
-
-
14,000
-
1,293
-
232
-
12
-
553
-
1,683
-
1,395
-
1,790
-
-
-
59,245
3,149
-
-
465
-
-
-
7,202
-
2,110
6,844
-
-
2,473
-
13,635
-
4,552
-
784
10,458
30,756
Transfers
between
funds
At 31 March
2023

28

ECHO for Extra Choices in Herefordshire Limited

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued) Prior period comparative (continued)

Total designated funds
General funds
Total unrestricted funds
Total funds		 At 1 April
2022
£
6,848
285,433
292,281
372,854		 Income
£
£
303,550
(290,100)
757,321
(441,658)
1,060,871
(731,758)
1,247,782
(939,997)
Expenditure		 £
£
10,458
30,756
Transfers
between
funds
At 31 March
2023		 £
£
10,458
30,756
Transfers
between
funds
At 31 March
2023
(10,458)
-
-		 590,638
621,394
680,639

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2024
2023
£
£
-
36,087
-
10,462
-
46,549

17. Related party transactions

There were no related party transactions during the current or prior year.

29