2024-12-31-accounts - Jacob's Well Care Centre

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Jacobs Well Care Centre

Charity No. 1104075

Trustees' Report and Unaudited Accounts

31 December 2024

Jacobs Well Care Centre Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Statement of Cash flows	7
Notes to the Accounts	8
Detailed Statement of Financial Activities	16 to 17

Page 1

Jacobs Well Care Centre Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1104075

Principal Office

Unit 4 Toronto Place Gosport PO12 4UZ

Trustees

The following trustees served during the year:

W.J. Ellis

J.D. Molyneaux L.L. Molyneaux A. Pottinger C.S. Pottinger S. Pottinger

I. Toastivine

Accountants Independent Examiner Brent King Michele Johnson FCCA Unit 4G Johnson Accounting Solutions Limited Oaklands Office Park Unit 64 Aerodrome Road Basepoint Buisness Centre Gosport Harts Farm Way PO9 1HS Havant PO9 1HS

OBJECTIVES AND ACTIVITIES

The charity exists to advance the Christian faith and to help relieve poverty in Hampshire and other parts of the world.

We work with other agencies and charities on a daily basis from our single location in Toronto Place, Gosport.

There we provide a storage facility, a second-hand furniture, a school uniform project and Bric-a-Brac shop, and provide home delivery and collection of furniture.

We also collect food from 8 different locations a week and distribute this free from our site to approximately 600 families.

We have expanded our social media presence to inform people what is happening on site (when food is available etc) and to market our furniture/Bric-a-Brac.

The charity is established for the public benefit as outlined in Charity Commission guidance.

ACHIEVEMENTS AND PERFORMANCE

Page 2

Jacobs Well Care Centre

Trustees Annual Report

The charity provides free food on a daily basis for anyone that visits.

We also provide free clothing, furniture, kitchen and bedding packs when necessary to those in need.

Normal retail sales through the shop, our storage facilities, furniture removal and full house clearance provide the majority of our income

We purchased the building, Unit 4 Toronto Place, with a mortgage from Kingdom Bank, we are now in a position to upgrade the building.

FINANCIAL REVIEW

2024 saw the charity maintain its performance and once more have a trading surplus. A surplus of £72,468 was achieved for the year.

We have reorganized the space within the building to provide a large food storage area from where we have increased the food we supply to those in need. We continue to work with local agencies and Gosport Borough Council in this regard.

Reserves at 31st December 2024 were £304,407 (2023: £231,579).

PLANS FOR FUTURE PERIODS

We are planning to open a ‘warm room’ and coffee shop to support our elderly and vulnerable customers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was created as an unincorporated charity by a Trust in 2004.

New trustees are elected by the existing Trustees of which there must be a minimum of 2.

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

S. Pottinger Trustee 16 October 2025

Page 3

Jacobs Well Care Centre Independent Examiners Report

Independent Examiner's Report to the trustees of Jacobs Well Care Centre

I report to the trustees on my examination of the financial statements of Jacobs Well Care Centre for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

As the charity'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 by being a qualified member of FCCA.

I have completed my examination. I can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.

Michele Johnson FCCA

Johnson Accounting Solutions Limited Unit 64 Basepoint Buisness Centre Harts Farm Way Havant PO9 1HS 16 October 2025

Page 4

Jacobs Well Care Centre Statement of Financial Activities

for the year ended 31 December 2024

Unrestricted funds	Total funds	Total funds
2024	2024	2023
£	£	£

38,546	38,546	59,680
348,831	348,831	329,545
594	594	124
22,900	22,900	15,338
410,871	410,871	404,687

309,507	309,507	274,797
28,896	28,896	862
338,403	338,403	275,659
-	-	-
72,468	72,468	129,028
-	-	-
72,468	72,468	129,028

72,468	72,468	129,028

231,579	231,579	102,551
304,047	304,047	231,579

Page 5

Jacobs Well Care Centre Statement of Cash flows for the year ended 31 December 2024

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease in trade and other receivables Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash (used in)/from investing activities Cash flows from financing activities Repayment of borrowings Repayments of obligations under finance lease and hire purchase contracts Net cash from/(used in) financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ 72,468 330 (23,494) 1,355 4,808 55,467 (713,338) 23,494 (689,844) 477,546 (1,124) 476,422 (157,955) 258,207 100,252	2023 £ 129,028 330 (15,462) 123 533
		114,552 - 15,462
		15,462
		(10,000) (4,027)
		(14,027)

		115,987
		142,220
		258,207

Components of cash and cash equivalents
Cash and bank balances	100,252	258,207

	100,252	258,207

Page 6

Jacobs Well Care Centre Balance Sheet

at 31 December 2024

at 31 December 2024
Charity No. 1104075		2024	2023
		£	£
Fixed assets
Tangible assets	12	713,634	626
		713,634	626
Current assets
Stocks	13	5,000	5,000
Debtors	14	200	1,555
Cash at bank and in hand		100,252	258,207
		105,452	264,762
Creditors:Amount falling due within one year	15	(27,493)	(16,309)
Net current assets		77,959	248,453
Total assets less current liabilities		791,593	249,079
Creditors:Amounts falling due after more than one year	16	(487,546)	(17,500)
Net assets excluding pension asset or liability		304,047	231,579
Total net assets		304,047	231,579
The funds of the charity
Restricted funds	17
Unrestricted funds	17
General funds		304,047	231,579
		304,047	231,579
Reserves	17
Total funds		304,047	231,579
Approved by the trustees on 16 October 2025

And signed on their behalf by: S. Pottinger Trustee 16 October 2025

Page 7

Jacobs Well Care Centre Notes to the Accounts

for the year ended 31 December 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Jacobs Well Care Centre Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Plant & Machinery	25% Straight Line
Motor Vehicles	25% Straight Line
Office Equipment	15% Straight Line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 9

Jacobs Well Care Centre Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 10

Jacobs Well Care Centre

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Investments Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Income from charitable activities	Unrestricted £ 38,546 38,546 Unrestricted £ 348,831 348,831	Unrestricted funds 2023 £ 59,680 329,545 124 15,338 404,687 274,797 862 275,659 129,028 129,028 129,028 102,551 231,579 Total 2024 £ 38,546 38,546 Total 2024 £ 348,831 348,831	Total funds 2023 £ 59,680 329,545 124 15,338
			404,687 274,797 862
			275,659
			129,028
			129,028
			129,028 102,551
			231,579
			Total 2023 £ 59,680
			59,680
			Total 2023 £ 329,545
			329,545

Page 11

Jacobs Well Care Centre

Notes to the Accounts

5 Income from investments

Unrestricted £ 594 594 Unrestricted £ - 22,900 22,900	Total 2024 £ 594 594 Total 2024 £ - 22,900 22,900	Total 2023 £ 124
		124
		Total 2023 £ 2,643 12,695
		15,338

Unrestricted £ 292,708 16,799 309,507 Unrestricted £ 28,566 330 28,896 2024 £ 330	Total 2024 £ 292,708 16,799 309,507 Total 2024 £ 28,566 330 28,896	Total 2023 £ 260,632 14,165
		274,797
		Total 2023 £ 532 330
		862
		2023 £ 330

Page 12

Jacobs Well Care Centre Notes to the Accounts

10 Trustee remuneration and expenses

One or more of the trustees has been paid remuneration in the current or prior periods.

			Other
Trustee	Remuneration	Pension	benefits
L.L. Molyneaux	29,659	908	-
A. Pottinger	12,261	-	-
C.S. Pottinger	8,160	-	-
S. Pottinger	23,431	-	-
I. Toastivine	23,265	578	-

11 Staff costs

No employee received emoluments in excess of £60,000.

12 Tangible fixed assets

12 Tangible fixed assets
Cost or revaluation At 1 January 2024 Additions At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charge for the year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023 13 Stocks Finished goods 14 Debtors Trade debtors VAT recoverable	Land and buildings £ - 707,338 707,338 - - - 707,338 -	Plant & Machinery	Motor Vehicles	Office Equipment £ 5,713 - 5,713 5,296 160 5,456 257 417	Total £ 31,016 713,338
		£ 3,183 - 3,183 2,974 170 3,144 39 209	£ 22,120 6,000 28,120 22,120 - 22,120 6,000 - 2024 £ 5,000 5,000 2024 £ 200 - 200
					744,354
					30,390 330
					30,720
					713,634
					626
					2023 £ 5,000
					5,000
					2023 £ - 1,555
					1,555

Page 13

Jacobs Well Care Centre Notes to the Accounts

15 Creditors:

amounts falling due within one year

2024 £ 17,500 - 2,837 5,582 1,061		2023 £ 10,000 1,124 - 3,771 901
513		513
27,493 2024 £ - 487,546 487,546 Incoming resources (including other gains/losses ) £ 410,871 410,871	Resources expended £ (338,403) (338,403) Unrestricted funds £ 713,634 77,959 (487,546) 304,047	16,309
		2023 £ 17,500 -
		17,500
		At 31 December 2024 £ 304,047
		304,047
		Total £ 713,634 77,959 (487,546)
		304,047

Page 14

Jacobs Well Care Centre Notes to the Accounts

19 Reconciliation of net debt

19 Reconciliation of net debt
Cash and cash equivalents Borrowings Bank loans Obligations under HP/Finance leases Net debt	At 1 January 2024 £	Cash flows £	At 31 December 2024 £
	258,207	(157,955)	100,252
	258,207 - (27,500) (1,124) (28,624) 229,583	(157,955)	100,252 (487,546) (17,500)
		(487,546)
		10,000
		1,124 (476,422) (634,377)	-
			(505,046)
			(404,794)

Page 15

Jacobs Well Care Centre Detailed Statement of Financial Activities

for the year ended 31 December 2024

Income and endowments from: Donations and legacies Charitable activities Investments Other Total income and endowments Expenditure on: Charitable activities Governance costs Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable General administrative costs, including depreciation and amortisation Depreciation of Plant & Machinery Depreciation of Motor Vehicles Depreciation of Office Equipment Total of expenditure of other costs Total expenditure	Unrestricted funds 2024 £ 38,546 38,546 348,831 348,831 594 594 - 22,900 22,900 410,871 292,708 292,708 16,799 16,799 309,507 28,566 28,566 170 - 160 330 28,896 338,403	Total funds 2024 £ 38,546 38,546 348,831 348,831 594 594 - 22,900 22,900 410,871 292,708 292,708 16,799 16,799 309,507 28,566 28,566 170 - 160 330 28,896 338,403	Total funds 2023 £ 59,680
			59,680
			329,545
			329,545
			124
			124
			2,643 12,695
			15,338
			404,687 260,632
			260,632
			14,165
			14,165
			274,797 532
			532
			170 - 160
			330
			862
			275,659

Page 16

Jacobs Well Care Centre Detailed Statement of Financial Activities

Jacobs Well Care Centre Detailed Statement of Financial Activities
Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- 72,468 72,468 - 72,468 231,579 304,047	- 72,468 72,468 - 72,468 231,579 304,047	-
			129,028
			129,028 -
			129,028
			102,551
			231,579

Page 17