Charlty Regl8tratSon Nurnr: 1104903 (England & Wales) Company RegSstratlon Number: 05114575 TOOLS wrrH A MISSION (A Company Llmlted by Guarantee) ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
TOOLS WITH A MISSION CONTENTS P•g• Legal and Adnln18tratlve Information The Report of the Trustee8 ststement of Tru8tae Responsibllltie8 hdependgnt Audltorf8 Report 10-12 ststement of Flnanclal Actlvlt1&8 13 BalanGe Sheot 14 Staternenl of Gash flow8 15 Note8 lo the Financlal Statemènts 18-27
TOOLS wrrH A MISSION LEGAL AND ADMINISTRATIVE INFORMATION Legal stru¢tur• The Charity is a company limited by guarantee Incorporated In England and Wale8. Truste8•lOlroclors Mr S Danks Mr K Holbum Mr B Orchard (Company Secretary) Mrs P Parter Mr D WINlams (appolnted 9" January 2024) Mrs H M Potts (appolnted 20th February 2024) CEO Mr J Noble Compary r•gl•tratk>n numb•r 05114575 Charlty r•gl•tratlon numb•r 1104903 (England & Wales) Regl8t•r•d offlc• Unit 2 Ballay C108e Hadlelgh Road Induslrial Estste IpsvAch Suffolk IP2 OUD Ind•p•nd•nt Audltor Helen Rumsey FCA Ensors Accountants LLP Connexlons 159 Prlnces Street Ipswl¢h Suffolk IP11QJ BankeryJ Bardays 1 Princes Stra8t Ipswlch Suffolk IP11PB
TOOLS WITH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 The Trustees, who aré also diroCtor8 of the charfty for the purposes of the Companie8 Act 2006, present thelr report with the finandal slatements of the charlty for the year 8nd8d 31 Ociober 2024. Th8Be have been prepared In accordance with the provision5 of the Charitles SORP (FRS 1021. the Flnanclal Reporting Standard applicable In the UK and Republlc of Ireland IFRS102) and Ihe Companies Act 2006. When setting oblectlves. developlng strat8gies and undertaklng acti10$. lh8 Trustees have glven CAreful conslderation to the guklance on publlc benefit provided by the Charfty Commission lor England and Wales. The Inforniallon on page 1 forms part of th15 report. Throughout thls report, the term 'TfUSt•e6"18 U8ed to denote the dlrectorn ol the company. ObJ•ctiv•$ 1.1 Alm• and objoctlvos of th• charlty The prfncipal aGtlvlty of Tools with a M185lon (fwAM) IB lo glv8 pradlcal exprelOn to tho Chrlstlan falth by the provlslon oftools and gqulpment to communSty-bas8d projects, tralnlng worf(shops and tralnees. The Chartty collect8 onated usable tools, refurblshes them, sorts Into trade kits and sends Ihem to the developlng wortd for Ilvellhood creatlon. In this way. It alm8 to all6viate povety wlthin communltles affected by lack of edUCan ond amployment We work viith churches, community groupg and NGO'8 to d8velop skills tralnlng centros provlding vulnorable people of all ages wlth practlcal skills that lead to employment ar th8 allevlatlon of the effects of poverty. 1.2 Th• 20204025 Strat•glc Plan The organi8atlon had been worklng to a Slrateglc Plan that was due to come to a close In 2025. Progrésg contlnued to be made to thls plan, wlth the Rugby refu1$hment centre consolldatlng its performan¢e and incr6aslng the number of conlainers that It was able to despatch. The most slgnifKant change in the year was tha d8parbJm of Mlke Gdffln and the arrbval of John Noblo as our new Chiel Executlve Officer. John, hailing from South AfrirA. has a background in both buslness management as Y11 as development Work, and offern a robust 88t of skllls to take TWAM forward from the positlon that Mlk• had capably built. Naturally, tha change In leadershlp meant a perlod of review and wa focussed in partlcular In the followlng aréas: stabSllsatlon of the operations. resouwcing of key areas In order to understand and overcom8 key challenges, space analysis 8nd process flow, and developing netrlvorks and partnerships. We also completed the bullding of, and Implemented. the onlln8 ywAMAppl system in order to improve the experlence of the lool request process for both our raclplents arKI our Country Co-ordlnator volunteers. At the Ilme of wrfllng, the genesls of our next Strategic Plan18 taking shape, the key focus of which Is to contlnue to reduce the amount of tlme a reclpient has to wait between making thelr request and receiving thelr tools. Havlng focussed on the shape of our UK operations In the last planning phase, we will be balanclng our progresjlon through the next 5 years to be better supportlng our in-wuntry processes wlth our partners as well as continulng to develop our 8fficlency Ihe VK. R•vl•w of the Year The commitment of our wonderful paid and unpaid staff thrghOut the UK remains our greatest 8&8et and we are mosl grateful to them for undetsking the rnultitude of tssks needed lo prepare a ccmtainer ready for shipment and lo comply with Ihe ever-increaslng compllance r8quirements being Imposed upon us. Without them, a charity of our size could not operate.
TOOLS WITH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 Contalnors and tool klts despatchod The perfod 1 Nov8mber 2023 - 31 Octob8r 2024 8aw eleven 20ft contalners and tlve 40ft contaln8r3 despatched to Africa. Thls equates to twenty-one 20ft wntalner equlvalents. Nlne containers were shipped to Zambia, four to Uganda, and one each to T8nzanla, Malawl and Zimbabwe. In thi8 Porlod, 18,352 toolklts and machines were sent. Thls Is a slgnlflcant proportion of the total 18.500 toolklts and machlne3 In th• 2024 calendar year, itself up from 14,748 In 2022-2023. The key Items refufblshed and daspatched 2023-2024 2022-2023 3,386 215 3.465 218 Sewing Machlne3. Knittlng Machines, Carpentry Trade Klts, Carpentry Workshop Klts, Boxes of Drllls and Power Tools, Computers Builders Klts. Groundworkers Klts, Agricullural Klts. Motor Mechanlcs Kll8, Mechanlcs Workshop Klts, Plumbets Klts, Electricians Klts 283 397 737 342 149 335 565 170 244 314 278 325 637 145 273 472 176 244 329 There must always be a note of cautlon In tylng to read too much Into the numbers, but It Is notlceable that the number of motor mechanlcs klls despatched conlinu88 to grow and that the grovAh in plumbers and electrlclans, kits that was 8een last year has been sustsined thr¢)ugh this year. Havlng sald thls, It Is Interostlng that one of TWAM$ staple 1$, carpentry, saw a1org8 Increase In thls year. TWAM supported 500 skllls eantres. communlty tralnlng groups and school8. These groups between them mel tho following need8 (many groups met more than one need): 2023-2024 2022-2023 401 32S 110 112 132 40 278 182 158 158 129 63 334 319 70 8UPPOrted Women's Groups arKI Wldows worked wlth Young People and 8chool drop outs supported Vulnerable People supported Schools wothed In Communlty Development worked in developlng sustalnable agrlculture supported Orphans worked wSth Men suffer5ng long 18nn Unp10Yfflent supported Street Chlldron set up Dlsabilty support groups $upported those affected by HIVIAlds worked to fr88 Sex-work8rs supported ts Elderfy supported Ex-offenders supported Refugees worked to allevlat8 Environmentsl Issues 46 11 237 121 55 80 19 16 30 16 49 53 40 Shlpping costs and custorns costs continue to be a challeng8 and. as reported later, ¥ are exploring new wayg of mitigaling increases in the first of these.
TOOLS WITH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 2.1 TWAM Volunts•r team TWAM conlinues lo benefft from an incr8dlbl8 team of volunteers. In excess of SOO people perfomi 844 volunteer roles across the whole span of the organisatlon's activity. From the request belng made by a re¢iplent oryJanisatk)n, tools being donated In the UK, refUlshOd and shipped. all the way through to th8 tool being placed In the hands of the reclplenL arKI then later Ihe Impact assessment conversalion taklng place. volunteer rol8S 8nable the whole proce88. We contrue to acknowledge that many are retir8d, but also work wilh long term unemployed, ex-mllltary personnel In rehabllltstion programmes. ex-offenders and young people wlth Support Workers. In partlcular, thls year we want to acknowledge three indSvlduals who have stood down from Iheir roles In the last 12 months. or are about to. Ea¢h of these has lad the é88ign. t8Stlng and 88tabllshment of core processes that allows TWAM to achlevo the In¢xedlble results that we ènjoy Paul Seymour managed h56 100th contalner before slepplng down after ten year8 as county coordinator to Zarnbla. leavlng behlnd an incredk)le slrengih in the Zambia team who conllnue to perform well. Jan Brown stepped down In Dec8mber 2024 after almost ten year8, aSt8bllshlng a robust accountln9 function and steerlng TWAMS financo acllvlty well. Lyn Walkerwlll be stepplng down aft•r ten yoars of managlng our logSstlcs with excelbnce. We are most grateful for her conlrlbutk)n 8nd the burden she carried. 2.2 Support of Indopendont workshops In addKbn, there aro 7 Independent volunteer4ed work8hop8 ba88d across England and Wales with around 100 volunteers between them. They are Tool Aid Rlngwood, Sheffield Too184AfrirA. Medway Volunteer Group, Halstead Refurbishment Centro, Tendrlng Tool Kit8 for Africa, Tools4Afrf¢a Southmlnstar, and St John'8 Kabin in Kenllworth. An area of devel¢)pment In this regard Is tha conllnually developlng relailonship wlth the UK men's and communlty shed network arKI we now have Several that are supportlng our UK collector network by becoming drop off poSnt8 and colledlng for us In the local area. They offer an amazing amount ol support rlght up lo and includlng full kit productlon, further $upportlng tha charfty's groN*th. W• bolleve that the gr0h of thls network and the way that11 1$ cmrdlnated wlll be an Important part of our next strategic plan and It 1$ therefore plea81ng to have so many skllled rAmmunlty group8 wanting to work wlth us. 22 Envlronmental Impact TWAM has always had its green credentlals 8nd sustalnability at Its heart. We belleve 8 hammer should remain hammer. so we champlon reusing tools rather than recycllng them. It takes far less resourc8S to r8furt)ish a tool rather than r8cycllng It and turnlrbg It into 8omething else. Therefore, We' proud that we have been able: 1. To save around 280 tonnes of tools from entIallY going to landflll and $hipplng them to Africa. 2. To save over 110 tonnes of tools not suitsble for Afrlca from potentlalty golng to landfill by selllng them for recydin9 or r8us8. 3. To save nearfy £1,500.000 by r8furbi8hlng and reusing tools, rather than buying them new. This all amounts to 1.367,173kg of C02 emlssions saved every year. We believe th18 all adds up to a superb Ilfe-transforynlng achlevement. 2A Annual Goneral Moellng Tho AGM was held In June 2024 In-person and ¥ia Zoom in Rugby. wlth the opportunity for Ihose attending to vl$lt the new Refurbishment Centr8. Those members who could not attend vmre offéred a postsl vote. We conducted all the form81 business. The Trustees have agreed to 8 full audit and are pleased that Ensors have fwnd our accounts to be in wd oriler.
TOOLS TH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 Govornance and Flnanc• The Charity is constltuted as a Company Llmited by Guarantee and is admlnister8d by the Tru81ees under the tem)s and condltlons of Its Memorandurn and Artlcle6 of Associafjon. It is registered wlth the Charlty Comml6slon for England and Wales and wlth Companles House. 3.1 Gov•rnanc• The Chadty Is admlnlstered by th• Tru8tees at their regular meetings. The TNstee8 meet via ZcM)m and In-porson. Personnel with 8pe¢lallst kn¢)Wtedge are recruited to or consulted by the Board. as tho need arfgas. lo ensurn the smooth running and development of the Charity. New Trustees (arKI those standing for re-eleclion on a three-yearly basis) are elected by the members of the Charlty at its AGM. Th8 Secretsry malntalns an accurate and up to date reglster of members. The Chlef Executive Officer, who Is appoinled by the TNStee8 and is dlredly re8ponslble to the Chalrperson, manages the day-t041ay affalrs of the Charlty. The Financa Manager has Ihe responslbllity of overseaing ihe financ ol the Charity. 3.2 Flnan¢• The accounts for the year ended 31 Oct(A)er 2024 show net oulgolng resources for the year of £8.101 (2023: £94,285). Total fund balance8 amounted to £808,242 <2023, £816,343). The Financlal Res6rve w88 revi•wed durlng th8 year, and it W88 dedded to leav• it at £100,000 total funds on hond at any one timo. Thls is con81dered to adequately cover Gore runnlng costs for up to of six monlh8. After a more slgnfflcant defjdt In 2023, due rnainty to the setup costs of the new centre in Rugby, 2024 Sew a d8ficlt of £8,101. A deficit for Ihe financlal year was budgeted for, but a mlx of conlinued generosty from our donors and prudant management by the staff team mean8 that tho deficlt was lower Ihan planned whllsl sts'll achlevlng our overall aims. 3.3 Inv••thi•nt Pdlcy The trustee8 are min(Iful of the èffect of inllatlon In depletlng purchaslng powèr 8nd therefore Seek to dlvernlfy eway from cash. The totsl value of Inveslments in CCLA Funds at th8 end of the flnancbal year was £119,804 compared to a hi8torfcal Go8t of £90.000. 3A TWAM Pollclo• Iring the year, the Board agreed a schedule whereby policles are subject to regular revlew. Such polkies indude those relatlng to overall Flnanclal Controls, Mon8y Laundering, Discrlmlnatkin. Soclal Medla, Health and Safely. Safeguardlng, Data Protection al Complaints and Griavances. TWAM use8 a thlrd party to review Its Human Resources pollcies, to gn¥ure they r8m8in compliant, and to provklelogal and personnel advice when raqulr8d. The Charity ha$ prepared a Risk Reglster to Identify risks and to enable an as8essm•nt of the Ilkelihood of thelr occurrence and their potential Impact. Thls and the accompanying Disaster Management p18n are regularty monit¢yed and reviewed by the Board. The Chief Executive and two members of the board meet r8gul8rly with ather staff and volunteers to review our risk documentatlon. 3.5 Going Concorn At tha tlme of approving the flnancial statements. (he trusts8s have a reasonable expectation that lh8 charity had adequate resources to continue in Operatial exlstence for the foreseeable futu. Thu8. ttie trustee5 contlnue lo adopt the golng Goncem basls of accounting in preparlng the fflnancial ststements.
TOOLS WITH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 Operallons 4.1 St•ff TWAM has elght pald staff in the UK and durlng the year has also used a number ol houw8 from 3 contract stsff In order to overcome some specific challenges. The review conducted by the new CEO has resulted In some redefinitK)n of roles. a process that Is Ilkely to continue as the next strataglc cyc18 develops. All other Staff associated wlth ts Charfty, includlng the Tw8te88, are voluntsers. We are constantty aware of the need for tralnlng for our staff, pahJ and unpald, wlth much of St provided on the Job, alongside those currenlly engaged In the tssk. Some speclali8t tralnlng is Carrled out by out81de trainlng provlders. Tfainlng requlrements are Identified by the Managemant Team underthe leadership of the CEO, whlch then en8ures that Ihe approprfate action Is tsken. Senlor Management remuneratlon18 agr•ad as part of the annual pay revlew by the Board of Truslees. Thelr dedslon 18 bad on the recommendation of the Chalrper80n and on the review of the perfornian¢e and meèting of measurable obj'ectlves set In the annual appralsal. A pgrlodlc revl8w of data sources such as Charity Jobs support8 thls decision-maklng process. 2 Transport Contalners begin thelr loumey lo Afrlca from tha Ipswlch and Rugby Refurbl8hment Centre8. The dlstrfbullon of shlpments, once they reach Ihglr d8silnation18 supervlsed by our inwcountry partner8. TWAM operate6 a ffleet of five vans based in Ipswlch. Rugby, Maldstone. Ad8r8hot and Redcar. Al are 8taffed by volunteer drlvars who carry out collectlon$ of donated tools and oquipment. 4.3 Coop•ratlon wlth othor or9anl8atlons TWAM has prlorfll8ed bulldlng relationshlps wlth liko-mlnded charftles and enterprises who share our ml88ion In term$ of creatlng Ilvellhoods. One Buch example Is the fornlI0n of a Llvelihood Crealk)n Consortlum. fomied wlth Workaid, Tools For Self R8llanc8, Tools for Solld8rity. and two from the Nethertands: Geredgereedskap and Tools for Work. We hav8 found synergy In looking for shlpplng solutlons and are currently seekirvJ synergles In customs related challenges. W6 have greatly beneffted from inslght to thelr operatlons arKI from a iorvJ-standlng partner8hlp that Tools for solidlty has In Tanzania. We are currentty pursuin9 ralallorhipS wllh complementary ¢harllles who wlll Ébla to lever8ge the opportunitlas to 8erve our reclp18rts more effectivety wKhout addlng lo our rx)st base. At a more humane 8nd Soclally responsible level, ft)r many years TWAM has ¢oop6rated with organlsatlons that support people with leaming dlfficulties and the long term unemployed through provisk)n of volunteering opportunltle8. It Is our pleasure to continue to do this. 4A Fundralslng Actlvlllas Tools wlth a Mission r8118s predominantly on indfvldual don¢Jrs and church support. Ir fundraising actfvities rellect th15 wlth our magazine TWAM News sent quarterfy to approxlmately 3.500 people and groups. In addition, we continue to make 4 appeals p8r year, usually to support spedfic financlal ne8ds wlthin the charfty. We contlnu¢ to gr¢)w our Toolbo group of regular donors who give monthly. Trust and Corporate support Is becomin9 Increasingly Important to TWAM. In partlcular, thls year we would Ilke to acknowledge the generous support of The Aall Foundation, the Lambury Charltable Trust, th8 Brockham Overseas Ald Committ8e. Th8 Camiela and Ronnle Pignatelli FndatIOn. and others. Our legacy appeals continuo to be promoted. and we rer2ive many 'in-memory' gift8. Alternatlve gifts are avallable all year and prove very popular at Christmas, and a rarvJe ol leaflets womotes our Wofk across the UIL
TOOLS WITH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 More generally, we have been asseSng our reportlng and developing a pr4ect approach, lo ralse furKls for ¢ertaln proj with corporate partnern and grant-fundlng instilutlons. Our relatlonshlps wlth organlsatk)ns such as the UK Men'slcommunlty Sheds and partners such as Amtri Vwitas contlnu8 to grow. By developing a wider network. v40 are raising the profile for TWAM. Onllno ar soclal m8dla18 an Incr8881ngly Important Communlcation tool. We Send a supporter 8vn8vA mcffthty to approx. 4300 people up from 4000 in 2022-2023. Our soclal media pr88ence hay seen slgnlfKant development and growth wllh Iha appolntm8nt of our Fundralsing and Communlcatlon Léad. Facebook has seen growth of 55% and the ¢verall reach on Facebook increased lo 180%. We are also steadily growlng our n•iwork on Instagr8m, Llnkedln. and our volunteer network on Assemble. r complalnls procedur&18 available on our yb5110 and durfng 2023-24 we recalved no eomplalnl8. Wa cA)ntlnue to practice inspirat*)nal fundralsing, seeking support through the rewgnillon of the valua for money, envlronrnental resp¢Jnslbillty, local Impact as well a8 overseas. and sustainabllty of the projects we support. We are compliant vAth th& requlrements of the Genoral Data Protedlon Requlrements and Indivlduals can opt out from receivlng fundraislng communlcatlons from us. 4.5 Prln¢lpal Rl•k• and Unc•rtalntle• As a chartty whlch derives the most slgnificant part of Its Incnme from donatlons by the general publlc, the Board can never be certain about the level of Income to be received and has therefore to manage expens88 and overhead costs accordlngly. To guard agalnst an unfor88een shortfall In Income, the charity malntains a r8serve of £100.000 whlch Board has Judged adequate for the purpose. The 8oard recognisasthat In 8erMling tools ovors888, it cannot have dlrect control overthair dlstrlbution to applicants. To mltlgate Ihis risk, the charity work8 wlth local partner organi88tlon3 or NGOS In each County who oversee dlstributlon on its behalf. The rlsk Is furthar reduced thft)ugh regular vlslts lo redplents and partners by Board membèrs, staff and volunteers from the UK. The In-county Impact aSS888meni procedure Implemented durlng 2022 corrtinued through 2023 and into 2024. Thls conlinuas to be conductgd by UK based impact asses8menl Country Coordlnat<)r8 for Uganda and Zambla and ty Impact A8se88m8nt Manager8 In Zambla and one In Uganda. In other ¢x)untrfes, the UK based Country Coordlnator and In-country partner work together to ¢arry out the ass8ments. The charfty is he8vlly dependenl upon the willingness and u)nllnued availablllty of volunteers to 8UPPOrt ils k. Accordingly. the ongolng avallablllty and antlclpated future need for volunteern Is closely monltored to ensure sufficlent numbgr8 are avallable to Permit Its objectlve81o be realised. 6 Concluslon Durlng 202024 TWAM continued to focus on Its coro <)blectlve. of provldlng the Where1tha1 for people to create a lfvelihood. As the number of toolkits processed and containers despatched both rise i)ur pceSseS are stretched and tesled and during thls perlod both our staff and valunteers l)ave workad to understand the thallenges and Improve the ways in whlch we yrk. It has been necessary lo expend some resource8 to do thi5, but we have leamt valuable lesson8 that will allow us to shape the organisation more effectively as we enter otsr next strateglc phase. Not only has Ihe organlsalion contlnued to develop through lh8 year but It has also Worked through the challenges of a Gh8ng8 In Chief Ex8CUtlve. The board would Ilke to acknowledge the grace and patience of Staff and volurrt8ers as the transltlon was made from Mike Grlffln to John Noble. The board acknowledges once agaln that TJVAM ha3 at Its heart an enormou8 group of loyal p80ple who are al ep8r8d to gel Involved. We are deeply grateful to them all, for vthout such a level of enthu8i&8m and support, TWAM would not exist.
TOOLS WITH A MISSION THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 Stat¢ment as to dl¥¢losuM to our audltorn In so far as the Truste85 are aware at tho tlme of approvlng our Tru51ees' annual report th8r8 Is no relevant infomiation, behg Informatlon needed by the auditor kn connoctlon wlth prepaflng Iheir reporL of whlch th8 Charws audltor is unaware; and the Trusteos, having made enqulrles of fellow trustees and the Charlty's audltor Ihat they oughl to have Individualty made, have each taken all steps that they are obliged to take as a trustee in order to make themselv08 aware of any relevant audit Inf0MtIon and to establish that Ihe auditor is aware of thal infomwtion. ON BEHALF OFTHE BOARD Mr S Dank8 Trustee and Ch8lrperson
TOOLS WITH A MISSION STATEMENT OF TRUSTEE RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2024 The Trustges, who are also th6 diraclors of Tools with a Mission for the purpose of Gompany law, are responsibla for preparing Ihe Truslees, Report and Ihe accounts in aCrdanCe wlth applicablg law and United Kingdom Accounting Standarils (Unlted Klngdom G8n8rally Accepted Accountlng Praclice). Company Law requlres the Trustees to prepare accounts for each financial year which glve a Irue and falr vlew of the state of affairs of the charfty and the Incomlng resourcas and appllcation of resources, Includlng tha Income and expenditure. of th8 charitable company for that year. In preparlng these accounts, the Truste8s arn requlred to: Sdect sultable ac¢ountlng pollclos and then 8ppty them con8lstenUy.' Observe the molhods and prlnclples in tha Charfties SORP; Make ludgoment8 and estimates that are r8a8onable and prudent; and Prepar& the accounts on the golng concem ba3ls unless It18 Inappioprlate to presume that the charfty wlll contlnue In operatlon. Tho Tru8te83 are respon8lble for keeplng adequate accounling records that disclose wlth reasonable accuracy at any tlma thè financlal posltlon of Ihe ¢harlty and enable Ihem lo ensure that the accounts comply with the Companies Act 2006. They are also r88ponslble for safeguarding the 88Sets of the Gharlty and hence for taklng rea80nable Ste for tha preventlon and detecllon of fraud and other Irregularltles.
TOOLS WITH A MISSION INDEpENDEr AUDrroR'S REPORT TO THE TRUSTEES OF TOOLS WITH A MISSION Oplnlon We have audlted the financial statements of Tools wllh a Mlsslon (the 'Charitable Companf) for the year ended 31 October 2024, whlch comprise the Statement of Financial Activltles. the Balance Sheet, Statement of Cash Flows and the notes to the flnanclal statem8nis. inclu(Ilng a summary of 8ignifThnt accounling policles. The financial reportlng framework that has been applied In thelr preparatlon 58 appllcable law and Unlted Kingdom Accounting Standards. includlng Financlal R8POrting Standard 102 The Flnandal Reporting Standard applicable In the UK and the Republic of Ireland (United Kin9dom G8nerally Accopted Accounting Practice). In our opinion, the flnanclal ststements: glv8 a tru8 and falr view ofthe state of the d)arltable compan$ affalrs as at 31 October 2024 and ofits Incornlng resree$ and appllcatlon of r8sourc8s. for the y8ar then 8nded' have been properly prepared in accordance wlth Unilad Klngdom Genwally Accepted Accounting Practlce: and have been prepared In aOrdanCe wlth the requirem8nts of the Companies Act 2006 Bas for oplnlon Wa conducted our audit In accordance with Intematlonal SLgndards on Auditing (UK) {ISAs (UK)) and applkable law. Our responslbllltlas under those standards are lurther doscrfbed In Iho Auditorfs respt)nslbilits'e$ for th8 audit of the financlal statements sectlon of our report. We ar8 Independent of the charllable company In accordance with the 8thical r8qulrements that are relevant to our audlt of the flnanclal 8tatements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal respon81bllitles in accordance with these requlr8ment6. We belfjeve that Iho audtt •vid•n¢o we have obtsinad is sufficlenl and approprfate to provide a basi8 for our Dplnion. Conclu•loM r•latlng to golng con¢•m In audltlng the financlal 8tstem8nts, we have conduded that lh8 trustees. Use of the golng concern bas18 of accountlng In the praparation of the financlal statements Ss approprlata. Based on the work we hwle p8rformed. we have r1 identitled any materlal uncertalntles r•latlng to evonts or condltlon8 Ihat, indivldually or collectively. may cast 81gnlficant doubt on the charltable company's ablllty to continue as a golng concem for a perlod of at tgast twefve months from when the financlal ststements arn authorlsed for Issue. Our ra8ponslbiliti08 and the raspon8ibllltle8 ol the tnJ8tee3 wilh respect to g0Sng concem are descrlbed In the relevant 8ectlon8 of th18 report. Oth•r Infomiatlon The trustees are r8sponslbl8 for Ihe other Informatlon. Tho oth8r Informatlon comwises the Inforniatlon induded In the 8nnual report. other than the financial sLqtements and our auditorfs report thereon. Our opinion on the finanG*I statements does coverthe other Informatlon and. exGept to the extent othenrtlse explicltly stated In our reporL we do not eXPrnSg any fomi of asguranco concluslon th•reon. In connectlon with our audlt of the financlal statement8. our responslblllty Is lo read the other Infomiatlon and, In doing so, consider whether Iho other Information Is m8tsdally Inconslstent with the financlal statements or our knowledge obtain8d In the audll or oU)eThvlse appears to b8 materialty misstated. If we Identify such material Incon81stencies or apparent material misstatements. we are requlred lo detemilne wthether there18 8 matedal misstatement in the financlal statements or a malgrlal misstatement of the other infonmallon. If, based on the work have performed, we conclude that there is a materlal mlsstatoment of Ihls oth8r Infcmatlon, we are requlred to rep¢Jrt that fact. We have nolhing to rep(Yt In Ihis regard. 10
TOOLS WITH A MISSION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TOOLS WITH A MISSION Oplnlons on h•r mattors pre8crlbod by the CompanlaJ Act 2006 In our ¢pinion, based on work undertaken In the course of our audit: the InfomtIon given in the Trustees. Report, which Includes the dlrectors. report pr8parad for purposeB of company law. for the financlal yearforvthich the financlal statements aro prepared Is consistenl wlth the financlal statements., and th6 dlre¢tors' r8rKJrt Indled wlthln the Twstees, Report has been prepared In a¢cordanc8 wlth appli¢able legal requirements. Matt•rs on whlch w• ar• r•qulr•d to r•port by 9xPtIon In the11ght of the kncmledge end undersiandiffj of the charitable company and its envlronm8nt obtalned In tho Gour8e of the audlt. we have not identffied material mi88tat8ments In the director8, report included within th8 TTusl888' Report. We have nothlng to report In re8pect of the followlng matters in relatb)n to whith the Companles Art 2006 require u810 report to you If, In our opinion: adequate and proper accountlng records have not been kept; or r•tum¥ adaquate for our alt have not baen recelved from branches not Vi81ted by us: or tha finand81 statement8 are not In 8greement wilh the a¢countlng records and relurns; or certaln disclosure8 of trustee8' remuneration spedfled by law are not made., or wo havè nol recelved all the Infomatlon and explanatlons wè réqulre for our audlt. or the trusteeswere not entltled to prepare the financial statements In accordance with the 8mall companie8 reglm6 and tske advantsge of the small compenlas, •xampiion3 In preparing the Tru8tsos' Report and from the requirement to prepare a 8trategiG report. Respon81bllftlo• of Tru8t••• As explaln8d more fully in the ststement of truslees, resrThsibilitle8, thè tru8tees, who are a580 Ihe director8 for the purpose of company law, are responslble for the preparathon of the financlal statements and for belng sat16fied that they givo a true and falr vlew, and for such internal control as the truste88 detennine13 necessary lo enable the preparatlon of ftnanclal slatements that are free frcffl fflalerlal mlsstslemenL wh8ther du8 to fraud or error. In preparfng the financlal statements, the trustees are responslbla lor asse5s1ng the charfty's ablllty to conllnue as a going concern. dlscloslng, as appllcable. matters related lo golng concern arKI uslng th8 going concem basis of accountlng unlg¥s Ihe tN3t•o8 either Intond to Ilquidate the ¢har•table company or to C88se operatlon$, or hav• no realisllc allemative but to do so. Audltor'4 r•onbIlitI•8 for tho audll of th• finandal gtal•m•nts Our oblectlves ar8 to oblaln reasonable assurance about vthether ts flnancial statement8 as a Vh¥) are fréé from m8t8rf81 misstatement, whether due lo frawl or error, and lo 58su8 an auditorfB report that indudes our opinion. Rea80nable assurance 18 8 hlgh level of a88uranc8. but is not a guarantee that an audlt conduct8d In accordance wllh ISAS {UK) wlll always d8t8ct a materlal mlsstatement when rt exlsts. Mlsslatemenls can arise from fraud or error and are consldered malerlal if, indlvldually or In aggregate, they could reasonabty be exp8Cted to inlluence economic ded81ons of users taken on the basis of these finandal statements. Irregularflies, in¢ludlng fraud, 8r8 In8tances of non-compliance with laws and regulations. We de81gn proc8dure8 In Ilne wth our resp¢80b111l1e$, oudlned above. to detect material mlsst8tements in respect of Irregulathies, Including fraud. The engagement partner has ensured that the 8udlt team ¢ollectively had the raquired experience, krM)wledge and competence to perfom the planned work and Idenlify any relevant Irregularltl8S. The extent to which our procedures are capable of éetecting irregularitles, Indudlng fraud. Is detalled below. In plannlng our audit, we Idenllfy and assess risk of materlal misstatement wlthln the financial statements. whether due to fraud or error. In assessing Ihe risks, conslderation Is glven to the conlrol envlronThnt (Including Trustees, and managemenfs own prcthsses for ident[fatIOn and risk 8ssessfflent) as well as the nature of th8 entity, the sector In vthich it operates and the undertying performance. Con*deratlon Is also glven to Ihe attitudes and incentlves of managemenl to commit fraud, wilh spedfi¢ procedures planned and perfomed to respond to the risk of inappropriate management OV8rrid8 of control8.
TOOLS WITH A MISSION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TOOLS WITH A MISSION We also obtaln an under8tandlng of the applrAble laws and regulatlons to vthlch the o)arity mu8t adhorn, through discusslons wllh management and those charged with govemance, as well as commerdal knowledge of the sector and statutory l¢gl$18tion, in order to determine the key IM and regulali¢n$ appllcable to the tharilable company. r oudlt work IrUded. AlitIng the risk ol manag8ment override of controls, includin9 through te8tlng journal entrfe8 and other adJu8tm8nls for appropriatoness, and evaluatlng the ratSonale behlnd slgnificant tron8actions outslde the normal ourne of bu8in8s8. A88e•sment of k•y accounlANJ estimate8 thIn the flnancial 81atWnts in ord•rto as8$ thelr roa8onablen to detemiine whelher there18 any bl88 in th• e8tknat68. Rovkn of me8tiNa mknuto8. Enquiflng of mgnaooment and tru8t883 al to whother they aro aware of any alleged, SU8$ or Actual fraud during Ihe year. Perfomlng procedur•8 to SaSfy OUT1¥ Tegardlng the tharltablo C7pan8 compllanco th applIcab laws and regulatlona, Enqulry of trte•S and management around actual and potenllal Iltlgatk)n and ctalm8 Revlewkng corre3pond8nce wllh relevant legal authorilie8 All audlt team membar8 weie mgde avrdre of the appSicable laws and regul8Uons. a8 well as Wentlal fraud rfsk8 durhlg the plannlng st8ge ol the audlt and this was dlscussod al audlt team plannlng meeOng. It was therefore delerrnlned that team Thmbers 811 had the relevant awarenoss and competsnco to Id•ntify any IrbBlaw of ntMp0n or fraud. Ther• . h(hvovw, iher•nt IlmltaUon8 lo our above audll procedure8. Audlting standards only requlre u6 to •nqulr6 of the trusta88 and management regarding non-compliance wSlh18ws and regulations. as well as rgvlew regulatory and 18981 ¢orrespondon¢a (rf Ihere 18 any). It 1$ therefore p0s81ble that instances of non-complianc8 could be ml888d, P8rt1culorly where the law In Itsew 18 far removed from any finendal tr8n8aclions. A further desiylptlon of our responslblllfjes for tho 8udlt of Ihe flnancbol stalements l& located on the Finandal Roportbng Council's webstte at httP.,lfvK.frC.org.uk1our-WorklAud1uAudst-•rK1PssSuranceIstand8rd$-anduldanc%lslandordB- and4JuIdanc&for-auditorslAudlior8-resp$lb1O1Of-alwj1IlDesCDptiOn-audit0rs-reoF0nS1bllitlO&vfOr-8udll.a¥x. Thls de3¢Aptlon lom part of our audliorfs report. U8• of our r•port Th18 report18 made solety to the charliable compan8 rnembers, a8 o body, in accordance wlth Chapter 3 of part 16 of the Companles Act 2006. Our audit work ha8 been und8rtak•n 80 Ihat we mlght State lo the charitable companys member8 and truste88 those mattern we are requlred to state to them in an auditorfs rowt and for no olhor Pu05•. To the lullest extent pemltted by law. we do not ac¢opt or assume responsibility to anyone other than the Ghadtable company. the charitable companys mombers a8 a body and the thafltablo company's tru8t088 as a body, for our audll woth, for th18 report, or for tho oplnlons we have formed. Holw Rums•y FCA (S•nlor statutory Audltw) For and on behalf of Ensor8 Accountants LLP Connexlons 159 Prlnceg Stre•t Ipswich IP11QJ Datad: 2410612025 12
TOOLS WITH A MISSION STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unro8trlet•d fund$ Restrlct•d funds Total 2024 Total 2023 Not•s Income and •ndowmgnts from: Donations and legocles Charitabl8 activltleB Investments Other tradlng on)Me 454,985 454,985 153.089 9,319 147,872 442.063 156,781 1.097 119,948 153,089 9,319 147.872 Total Incom• and endowm•nl• 612 176 153 089 Expendllur• on: Ralslng funds Charltablg acilvltle8 34,888 611,875 34,888 755,775 42,985 773.953 143,900 Total r••our¢•s •xp•nd 646,763 816938 Net gaIn{lo88e8) on inveslments 17,297 17,297 2,764 N•1 In¢omlnql(outgolng) r••ourc•$ bgftK• tran•f•r• Tran8fef8 between furKI8 N•t Incomlnglloutgolng) r•$ou•S (17.290) 9,189 {8,101) (94,285) Fund balance8 at 1 November 2023 816,343 816,343 910,628 Fund balanc•s at 31 October 2024 799,053 9,189 808.242 816.343 The statement of fflnanclal actlvltles Includes all galns and I888 recognised In the year. All income and expendituro derive from contlnuing actlvlties. Th8 8tatsment of flnanclal aclfvitles 8180 complies wlth the requirements for an Income and expenditure account under the Comp8ni88 Act 2008. The notes on pages 16 to 27 form part of these financial statements.
TOOLS WITH A MISSION BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Notes Flxed a•sels Tanglble assets Investments 13 14 364.738 119,804 484.542 360,211 102.506 462,717 Currnnt D8btors Cash at bank and In hand 15 83,686 373,320 54.876 385.958 437,006 440,834 Cr•dlt•x•: wnounts falllng du• wlthln ono ar 18 (113,306) (87,208) Net Gurrent a86ets 323,700 353,626 Totsl M•ets l•s• curr•nt Ilabllltl•8 808.242 818,343 In¢omo fund• Restricted fund8 Unrestrlcted funds 9,189 799,053 18 816,343 808,242 816,343 The flnanclal 8tatements have been prepared in accordanc• th• provlslons applicable to companla$ Sublact to the small companles regime. The arKounts were approvèd by the Board of Tru8te89 on and were signed on ils behalf by: Mr S Dank8 Truslee and Chalmian The noles on pages 16 to 27 form part of theM financial statements. Company Roglstratlon No. 05114575 14
TOOLS WITH A MISSION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2024 2024 2023 Notes Cash flow• from oporntlng actlvltl•s Cash generated from operallons 24 2,873 (23.426) C•Bh flows from InVlIng a¢tlvltlo• Purchase of tanglble fixed assets (26,829) (67,995) 29,500 Proceeds on d18posal of tangible flxed assets 1,799 Interost recelved 9,319 1,097 (15,511) 137,398> Net Incr•aMI(d•cr•a8•) In ca•h and cash •qulvalonts (12,6381 (60,824) Cash and cash equlvalents at the beginnlng of the year 385,958 446,782 Cuh and ca•h •qulvaknt8 at the •nd of th• y•ar 373,320 385,958 15
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollclos Chailty Infornwtlon Too18 wlth a Mlssion is a prlvate company Ilmlted by guarantèé Incorpordted In England arKI Wales. The Islered offic8 Is Unlt 2 B811ey Close. Hadlelgh Road Industrfal Estata. Ipswlch. Suffolk, IP2 OUD. 1.1 Acmuntlng conv•ntlon The flnanclal statements have been prepared In aceK>rdance wlth UK Generally Accepted Accountlng Practice. the Companie8 Act 2006 and "Accounting and Reportlng by Charities: Stalement of Recommended Practlce appllcable to charltles preparing thelr accounts in accordance wllh Ihe Financlal Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102)". The accounts have been prepared under the historical COBt convenllon. modlfled to Indudo the revaluallon ol certaln financlal investments at falr value. The d)arity 1$ a Public Bonafit Enlty a8 ¢Jefined by FRS 102. The acrUnts are prepared in slerllng. whlch is the fun¢lional currency of the charlty. Monetary amounts In theso financlal statement6 are rounded to the nearest £1. 12 Golng concwn In approvlng tha accounts for the year 8nded 31 October 2024, the Trustees have a reasonabl8 expectation that the charlty ha8 adequate re8our¢85 to contSnue in operatlon for the foreseeable future. Accordlngly, Ihe Tru8teos continue to adopt the going concern ba818 of accountlng in pr8paring the ac¢ounls. 1.3 Charltabl• funds Unrestrictg(I funds are avallable for use at the di9cr8lkJn of the Trustees In furtheran¢e of their charltable objectlves unless the fund8 have been designated for other purposes. RestrEcted funds are subject to speclflc conditions Imp08ed by donor8 as to how they may be usad. The purpose8 and uses ol the Testrlcted furKls are sat out In th8 notes to Ihe aKounis. 1 A In¢omlng r•#our¢•• Incomo is recagnised when thg charlty is18g811y entitled to It after any performance condillans have beon met, the amounls can be measured fellably, and It Is probable that Income wlll be recelved. Cash donatlon8 ara facognlsed on receipt. Other grants and donations are recognised once the ch8rlty has been noliffled of the inmme. unless performance conditions require deferral of the amount. Income lax r•eoverab18 in relation to donatlons recalved under Glft Ald or deeds of covenant is recogni8ed at Ihe tlme of the donaUon. Legacles are recognlsed ¢>n racelpl, or If the charity has been notifjed of an Imp8ndlng dlstrlbulion. the amount 18 known and recelpt Is expected. If the amount 18 not known the legacy is treated as a contingent assel. Income from charltsble actlvltles is recognised on despatch of 9oods. Other tradlng income comprises monies received In r8spect of Christmas gfft and card sales, sales of raP tools (donated but no tonger flt for use) and sales of surplus tools (in good VIng condition l)ut not in dennd. th8refore sold to generate furlh¢r funds for charltsblo use). 16
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Acwintlng poll¢lo8 Icontlnu•d) 1.5 R•soure08 0xp•nd•d Expendilure Is recognlsed once there Is alegal or con8tructlve obllgatlon to transfer economi¢ beneflt to a third party. it Is probable that a transfer of economic beneflts wlll be required in settlement, 8rKI the amount of the obllgatlon can be measured rellably. Expenditure Is classlfied by activlty. Th¢ costs of each aGtlvlty ara made up of th8 total of dlrect cosis and 8hared costs. includlng support Costs involved In undertsklng each actlvlty. Direct CO8ts attributsble to a slngle actlvlty ar8 allocate(I dlrectly to that activSty. Shared costs whl¢h contrlbute to more Ihan one adfvlty and 8UPPOrt costs which are not attributable lo 8 single aclivlty are apportioned belween those actlvitles on a ba813 Mnsistenl wlth the us8 of r880urces. Central staff costs are allocated on the basis of tlmè spent, arml depreclatlon charges are •llocated on tha portlon of the as8et'8 uee. Charltable 8ctlvitie$ includes all co8t6 incurred by the chgrily in the delivery of Its aciivitie8 and 8ervico8 for its benoficlaries. It includes both costs that can be allocated dlreclly10 6u¢h actlvlti88 and those costs of an Indirect nature nece88ary to 8UPPQrt thom. Fundraislng cost8 Indude expendlture relaling to ralslng tho profile of the charlty vi8 thelr soclal medla, regular mailings, advethlng and tha wages of staff mamberg assoclated wlth these actbvitl•s. 1.6 Tanglblo flx•d o580ts Tanglble fixed asset8 are Initially measured at C08t and subsequently measured at C08t or valuatlon, nat of daprecialion and ony Impairment108ses. Fixed a830ts are capllallsed where Initial cost 8xceecl8 £1.000, Depreclatlon18 r8cognls•d so as to wrfte off th¢ cosl or valuatlon of a888ts less their re8ldu81 values over thelr expected u8eful Ilves on the followlng bases: Land and bulldlng¥ Flxlures, fittlNJs & equSpm•nl Motor vehlcles & plant 50 year8 5 years 5 year8 The galn or loss arf81ng on the dlsposal of an 888et Is delemilned as the dlfference belween the sal8 proceeds and the rryIng value of th8 888et, and 18 recognl8¢d In net Incomel(8xpenditure) for the year. 1.7 Impalrm•nt of flx•d a•s•ts At each reportlng end date, the Gharlly revl8wJ the carrylng amounts of It8 langlble assets to detemlne whether there is any indication that those assets have suffered an impalrment loss. If any such indlcatlon exist8, th8 recoverable amount of the asset is e8tlmat8d in order to detemilne the extenl of the Impalmient1085 (If any). 1.8 Cash and ¢a•h oqulval•nl• Cash and cash equiv81ents Include cash In hand. deposlts held al call wlth bank8, Othor 8hort-lerm liquld investment5 Wlth orlglnal maturltles of IhT88 month5 or less, and bank overdrafts. B8nk ovèrdrafts are shown wlthln borrowlngs In current liabilitles. 1.9 Forelgn currenGy Monetsry assets arKI Ilabililies denominated In forelgn currencies are translated Into sterllng at the rates of èxchange njling at the balance Sheet date. Trans8Ction5 in foreign currencies are recorded at the rale ruling at the dat8 of Ihe transaction. All differences are taken to the Statement of Financial Actlvttles. 1.10 Pensk•n$ The charity Pays Into a defined Contrlbutlon penslon scheme. The contrilxjtions payable are charged to the Statement of Finand81 Activili85 in the year that tw are payable. 17
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles (Contlnued) 1.11 Operatlng l•ase• Rentsls payable under operating leasa8, including any leasa Irthntives racelved, are charged to Income on a stralght line basls over th& tsrm of the r818vant lea86. 1.12 Taxatlon The chadty Is exempi from corporation lax on chariiable actfvities. 1.13 FInala1 Instrumonts The charlty has alacted to apply th8 pro¥i61ons of Section 11 'Basic Flnanclal Inslrum8nts' and Section 12 '0thar Flnanclal Issuos, of FRS 102 to all of118 fflnAndal Instruments. Flnandal Instruments are recognlsed In the charltys balance 8heel the charity b8come8 party to the ontractual provisions of Ihe instrument. Flnanclal assets and118bllities are offsat, wlth the net amounts pre8enled Sn the financlal statements, when there is a legally enforceabl& rlght to set off the recognlsad amounls and Ihwe Is an Intentlon to settle on a nel basks or lo reallse Ihe a8801 and settle lh• Ilablllty slmultaneousty. Ba8lc Iln•nclal asmts Baslc finan¢ial 888et8, which Include debtors and cash and bank balances, are inltlally measured at transactlon price Includlng tran$actlon costs and are subsequently carried at amortlsed cost U8lng the effective Intarest method unless the arrangement eonstilutes a financlng transactlon. where the transaction 1$ measured at the present value of Ihe futu reIP dlscounted at a market rate of Interest. Finandal assets cle$sified as racelvable wlthln one year are not amorti3ed. 8aslc Ilnanclal IlabllM•s 8aslc finan¢i81 Ilablllties, Includlng credlbrs and bank loans are Inlllally recognisod at transactlon prlca unless the arrangem8nt constltutes a financlng tran8actlon, where the debt Instrument 1$ measured at the present valug of the fvture re¢elpts dlseounted at a markel rate of knlwe8t. Financlal li8billtles classlfled as payable wlthln one year are not amortlsed. Debt Instruments are $ub8equ6nlty c8ffi8d at amorti8ed cost, uslng tho affectiva Interest rate method. Trade credltors are obllgatlons to Pay for goods or servlces that have been 8cqulred In the ordlnary course of operatlons from suppllers. Amounts payable are classified as current liabllltles if payment 1$ due withln one year or18ss. If not, they are pr6sented as non-current Ilabllilies. Trade credltors are r8cogn18ed inltlally at transactlon prlce and subsequéntty measured at amortlsed cost using the effectlve interest method. D•rncognltlon of financlal Ilabllltles Financlal liabllllles are derecognlsed when the charlty's contra¢tual oblwJatkins explre or are discharged or carelled. 1.14 Flx•d ass•t In9*mOnts Flxed asset Inv8Stmants 8re Inltlally measured at transactlon prlce excludlng iransactlon costs, and are subsequently measured at fair value at each reportlng date. Changes in falr value aro fecognlsed In nel incom81(expenditure) for the year. Transaction costs are expensed as incurred. 18
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng polkl•s (contlnu•d) 1.15 Employ•0 ben•fits The cost of any unused holiday entitlement b recognlsed in the perlod In which the employee's services are r8c8fved. Termlnatlon ben8fits are r8cognlsed immediately as an expense when Ihe charity Is demonstrably committed to teminate the employment of an employee or to provlde termination benefits. Crltl¢•l •Gcountlng ostlmatos and Judgemont• In the application of the Chartty's accounting pollcles, the trustees are qUired to rnake judgemenls. estimates and assumptlons about the carrying amount of a$sets and Ilabllitigs that are not r8adlly apparent from other 80urces. The estlmates and a880clated assumption8 are based on hlstorical experlence and other factor8 Ihat are consldered to be relevant. Actual results may differ from these estlmates. The e¥tlmates and und8Tlying a8sumptlons am revlewed on an ongoing bas1#. Rovislonl to accounting estlmat88 are recognlsed In the perlod In whlch the estlmate 18 revlsed where the revislon affects only that perlod, or In the period of the ravlslon arml future pwiod8 Ythere the revlslon affects both ourrent and future perlod8. Donatk8 and l•ga¢l•• Unrostrlcted fund• R•¥trlct•d fund• Total 2024 Total 2023 Donatlons and gffts Logacles receivablo 407,193 47,792 407,193 47,792 415,507 26,556 442,063 454.985 454.985 Por th• y•ar •nd•d 31 Octob•r 2023 436.384 5,679 442,063 4 Chafltabl• actlvltl•8 Unre•trlcted funds R•strlctsd lund• Total 2024 Total 2023 Frelght Income 153 089 153089 156 781 For tho year •nded 31 Octobgr 2023 156,781 156,781 S Inv•stments Unrostrlct•d funds Rostrlthd nds Total 2024 Totsl 2023 Int8rest receivable 9.319 9.319 1,097 For the yur ended 31 Octobor 2023 1.097 1.097 19
TOOLS TH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 other tradlng Income Unrostrlcted fund8 Rostrfcted fun Tolal 2024 Total 2023 Glft and Chrlstrna8 card sales Scrap salos Tool sales 8,440 24,832 114,800 147,872 6,738 23,206 90,006 119,948 119,948 24,632 114,800 147,872 119,948 For th• y•ar •nd•d 31 O¢tob•r 2023 7 Ral8lng fvnd• Unr••trl¢t•d funds Restrld•d fund¥ Totsl 2024 Total 2023 Publlclty and fund ralslng Regular malllng8 34,852 34,852 36 41.902 1,083 42,985 34.888 34,888 For th• y•ar •nd•d 31 Octob•r 2023 42,985 42.985
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Charltable actlvltlvJ Unrnstrlcted funds R¢strfctod funds Total 2024 Total 2023 Staff costs (see note 11) Rent and rat88 Insurance Light and heat Postage and telephone Prlnting ané stationery Sundrles Tools, habefdashery pur¢ha$es & refufbishment Carrlage and packaglng Vahlcle fuo18nd servl¢lng Premlses repairs and renewals Cloaning and trade refuse Over8ea8 frelght TravelllrwJ Legal and profo85ional charg88 Audlt and accountancy fees Health and safety Depreciallon Profit or loss on dlsposal Bank tharges In country dgvelopmgnt C08t8 291,114 53,937 25,854 42,946 12,429 3,515 9,660 20,006 5,925 31,451 13,447 10,145 291,114 53.937 25,854 42,946 12,429 3,515 9.660 20.006 5.943 31.451 13.447 10,145 143,900 4,559 12.983 11,255 5,677 13,761 6,542 3,313 33,340 249,644 54,202 19,471 16.507 16,848 4,399 9,079 20,207 6,767 34,870 5,315 8,316 169,827 10,456 9.530 10.240 5.426 59,059 (12,004) 3,513 72,281 143.900 4,559 12,983 11,266 5,677 13,761 6,542 3,313 33,340 611,875 143,900 755.775 773,953 For th• y•ar •nd•d 31 Octor 2023 558,734 215.219 773,953 Not galn8 on Investmonts Unr•strlctsd funds Restrfct•d funds Total 2024 Totsl 2023 Galnl(loss) on Ilsted Investments 17,297 17,297 2,764 For th• year ondod 31 October 2023 2,764 2.784 21
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Unrostrlctsd funds Restrlctsd funds Total 2024 Total 2023 10 Not Incomlngl(outgolng) rnsources Thls l• 8tat•d aft•r charylng: Depreclatlon Fees payable to the Charltys audttors for the audit of the Charlty'8 fflnandal statements Lossllprollt) on dl8posal of flxed assety 13.761 13,761 59,059 11.255 11,255 10,240 6.542 6.542 (12,004> 11 staff co81• Unr•strl¢t•d funds Rutrl¢t•d funds Tot41 2024 Total 2023 Wages and JalJr106 SoGial securlty cost8 Pension c08ts 237,429 237,429 220,591 16.221 16,221 13,953 12,093 2,389 3,635 19,347 12,093 2.389 3,635 19,347 11,749 Staff racrultm8nt Costs Staff tralnlng Agency staff cost$ 1,470 1,881 291,114 291,114 249.644 The averago number of 8taff during the year was 8 (2023: 8). No employee8 hav• emoluments ov&r £60.000. The ramuneratlon of key management personnal was £66,330 (2023: £53,993). 12 Trust•, •molum•nts Trustees received no r8muner8tion during 2024 or 2023. There ware payments mad8 lo threo (2023: Iwo) Trustees durlng the year for rélmburs8m8nt of out of pocket expenses of £54112023: £56). Premiums of £334 (2023: £333) have been pald In respeGt of Trustee Indemnlty Insurance.
TOOLS wrfH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 13 Tanglbl• flx•d a88•ts Land and bulldlngs Molor v•hl¢le8 & plant Flxtur•8, flttSngs & oqulpment Total Cost At 1 November 2023 331.111 142.211 119,344 4.449 592,66e 26,629 (19,250) Addltlons DI8PQ8al8 22,180 (19,250) At 31 October 2024 331,111 145,141 123,793 600,045 D•pr•clatlon and hnpalrni•nt At 1 November 2023 D¢predadon charged in the year Ellmlnalod on disposal8 108,316 SO,871 73,267 232.454 6,822 5,57S (10,9081 13.761 (10.908) At 31 Oct¢Jber 2024 114,938 45.538 74,831 235.307 C*rrylng amount At 31 Octobor 2024 218,173 99,803 48,962 364,738 At 31 Octobor 2023 222,795 91,339 46,077 360,211 14 Invlments 2024 2023 hlarf(•t Value CCLA Ethical Inv8stm8nt FurHJ 60,958 50,664 CCLA Global Equity Income Fund 58,846 51.842 119.804 102.506 Historlcal Co•1 CCLA Pooled Investrnent Funds 90,000 90,000
TOOLS wrrH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 14 Inve8lments Icontlnuad) Value 48 1 Nov•mb•r 2023 102,506 Change In market valu• 17,298 Valu• as at 31 October 2024 119,804 13 Dobtor•: •mount8 falllng du• wtthln 4)n• y•ar 2024 2023 Glft ald 7,123 14,792 Renlal deposil 13,500 13,500 Prepayments and accrued income 43,063 26,584 63,686 54,876 16 Credltorn: arnount• falllng du• whhln on• y•ar 2024 2023 Taxatlon and social s•curity Other cradltty8 5,205 21,586 3,209 9.214 35.797 Accruals 38,867 Deferred frelght income 47.648 38,988 113,306 87,208 17 Deforrnd InGom• Balance al I Nov 2023 Deposlts r•¢elv•d R•leased to income Balance at 31 Oct 2024 Freight Inrmie 38.988 161.749 153.089 47,848 Relates to trelght Income received for the shlpment of goods to Afrfca which were not shlpped at th¢ year ond. This income has been deferred in oftler to be r8c(yJnised in the year of shlpmenl of the goods.
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 18 Movement In lundg At1 Novomber 2023 Incomlng Outgolng rwdoufc•8 Transfers At31 October 2024 Unrn8trf¢t•d fund• Designated funds General fund 100.000 716 343 100.orxi 829 473 816.343 629.473 (646,763) 799,053 R•strfGted fund• Oversaas frelght 153.089 (143,900) 9,189 T11 fund• 816,343 782,562 790,663) 808.242 Incomlng r•sourco• Outgolng r••ourc¢• Trnn•f•r• At31 O¢tob•r 2023 Nov•mb•r 2022 Unre•trfGtsd fund• Deslgnated fund8 General fund 100,OOD 100,000 745.960 745,960 601719 (601,719) 560,203 111.899 816.343 Re8trlctsd fund8 Overseas fr•lght Forklift appeal Refurblshment appeal Van appeal Boiler 13,046 44,274 156,781 (169,827) (3.850) {800) (20,702) (1,3341 (18,706) (40.424) (2.400) (70.383) 3,200 91,085 1.334 Apprentice appeal 11,729 5,669 1,308 164,668 162.450 (215.219) (111,899) Tolal fund• 910,628 722.653 (816,938 816,343 In the prior year, the van. re1urbhrnent and forklift funds represented funds r8lsed In order to replace a nurnber of the charitys fixed assets. Hlslorlcally, depreciation was charged through these funds Such that they were reduced in line th the useful economlc lives of the a88ets. Thls presentatlon was revlewed by the trustees, who concludad thal thi8 treatment could be misleadlng as TWAM had spent this strICted cash and satisfied the restrlclion imposad by the donors. A deGisw)n wa$ therefore made to transfer these balan9 out of restrlcted funds. 25
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 18 Movom•nt In funds {conlSnued) The apprentice appeal was used to cover the costs of a full-llme warehouse apprentice employee. All brought forward Ond addltlonal Incoming restrfcted fijnds In relation io this were spenl during the prior year. It was declded that future funds relallng to the apprentlc8 appeal will be unre8tr1cted In nalure. The only re8tdcted fund remalnlng relates lo overseas freighL wht¢h Is rec8lved In advance to fvnd the tran8POrt costs of tool contaln8fS. £100,000 has been asslgned to a dèsignated fund as a reserve to cover 6 months of wnnlng costs If the charlty Is to encounter financlal dlfficulty. 19 Anatysls of not a•••t• b•tw¢en lund• Unrestrlct•d RMtrlcl•d Totsl Fund balance8 at 31 October 2024 ar8 repr88ented by: Tanglbla fixed assals Flxed asset Investments 384,738 119,804 314511 799.053 364,738 119,804 Current aJ3eW(Il•bilitie8) 9.189 808,242 Fund balance8 at 31 Oetobor 2023 are represented by: Tanglblo fixed 8$88ts Flxèd 88S8t investments CurIt 888etsl(Ilabilill•s) 360,211 102.508 353.628 816.343 3eo,211 102.506 353,626 816.343 20 R•lat•d party transactlons Donations recolved from Trustee3 and their immedlate family members totalled £1,033 in 2024 (2023: £700). 21 Commltm•ntJ At the rertIng date the charlty has commitments for fulure mlnlmum lease payments under non-cancellabla operatlng leases, whlch fall due as follow8.. 2024 2023 Wlthln one year Between 2 - 5 years 45,000 45.000 127,500 82,5 127,500 172.500 At the reporting date the charlty had capital commitments totslling £nil (2023.. £nll). 26
TOOLS WITH A MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 22 Guaranloe The charlty Is a company Ilmlted by guarantee; In the event of the chaflty being wound up, th8 Ilabllty In respeGt of the guarantee Is limlted to £1 per member of the charity. 23 R•tlrem•nt b•n•fit •ch•m•8 The charlty operates a defined contrlbution p8nsion scheme for all quallfylng employees. The assets of lh8 8cheme aro held Separately from those of iho charlty In an Indapendently admlnlstered fund. 24 Cash g•n•rat•d from ap•Mtlon* 20 2023 Surplug1(Dèficlt) for the year ustm (8,101) (94,285) Inve8tment income recogn180d In 8tatem9nt of financlal actlvltles Fair value gains and (1088es) on inve8tment8 Depreclatk)n and Impairment of tan9lble fixad assets Lo88 on dlsposal of tangible flxed assets (9,319) 117,297) 13,761 {1,097) (2,764) 59,059 6.542 (12,004) (Increase) I decrease In debtors Increase l (decrease) In Greditors (8,810) 26.097 950 26.715 Ca8h g•nerat•d from op•rallon• 2,873 (23,426) 27