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2022-12-31-accounts

The Cost of a Crisis Annual Report & Accounts 2022

The Cost of a Crisis Annual Report & Accounts

2022

Contents

Our purpose 1
Cost of living crisis 3
Our impact 4
Aid for Ukrainians 7
GIFTED 9
The year ahead 11
Financial statements 13

Giving World

Email Telephone Website info@givingworld.org.uk 0116 2516205 www.givingworld.org.uk

With thanks to

Graphic Designer Photographer Isaac Azzopardi Peter Freeth isaac.azzo@gmail.com peter@genius.photo

Our vision

A society where nobody is in need, because nothing is wasted.

Our drive

Collaboration to reduce need, give hope and encourage mutual support.

Our purpose

Protecting people, protecting the environment.

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£2 billion
worth of surplus goods
generated by UK
businesses each year
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It’s all in the figures

They’re what make our work the most natural thing in the world.

Our solution is simple. We redistribute businessexcess life essentials like shampoo, bedding, nappies, washing powder and warm clothing to the people who need them most around the UK – including vulnerable children and families, homeless people , those suffering addictions or mental health problems, lonely elderly people and disabled people .

Each year we give peace of mind to thousands , providing the breathing space these people need to get back on their feet and take the next steps towards recovery, employment and happier, healthier lives.

We are here to protect people from poverty.

By redistributing business’ brand-new surplus products to those in need, at Giving World, not only have we found a simple solution to fighting poverty, but also reducing landfill waste : two of the greatest challenges we face in the UK today.

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14.5 million
people living in poverty,
and rising
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Doing more with less

We want to help as many people as possible, so we are continuously working to make our monetary donations go further. Our costs currently stand at 33p per intervention (compared to 34p in 2021) – proof that every little really does help!

How do we do it?

We achieve national coverage through our dedicated network of 7000 Donor and Distribution partners.

Donor Partners are the private companies that trust us with their end-of-line and discontinued products.

These goods are then distributed, at no cost to them, to people in need through our Distribution Partners , charities, and community and neighbourhood groups.

With Giving World, everyone’s a winner.

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Our theory of change
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Leverage the power of surplus goods
L
Inspire community action
I
Fulfil essential needs
F
Transform lives
T
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Annual Report & Accounts 2022 Giving World 02

01

Cost of living crisis

2022 presented the UK – and the world – with even more and ever-heavier challenges. In the past year, as we’ve been faced with supply shortages, rising food prices and exponential fuel and heating costs, the number of people falling into poverty has skyrocketed – and continues to rise still.

Now over 20 years old and two Covid lockdowns strong , Giving World entered 2022 better equipped than ever to support people in need through the cost of living crisis. Distribution has increased almost threefold from 1.1m in 2019 to 3.08m in 2022.

Voluntary organisations like ours have faced unprecedented demand on resource, whilst managing increasing costs, reduced income and lower numbers of volunteers. To respond to the rapidly changing environment and the burgeoning demand for welfare support in some parts of the country, in 2022 Giving World sought to partner with another community-based organisation. Unfortunately, despite substantial progress the agreement between the two parties ultimately broke down. However, Giving World was able to continue its service without detriment to our communities, beneficiaries, or partners.

664,977 People helped

Our work really works.

How do we know? Because each year, using a framework developed by the University of Leicester, we evaluate our reach to the ten main beneficiary categories we work with.

We survey our beneficiaries throughout the year, looking out for the credentials we consider to be key: improvements in life chances and/ or reduced feelings of isolation as a result of our intervention. Every year the overarching message we receive remains the same: the goods we donate have an overwhelming impact on our beneficiaries’ lives.

3,085,116 Products distributed

4,250 Tonnes of CO2 emissions saved

Our impact

The feedback and stories we receive are what motivate us to keep giving and keep extending our reach.

Alex’s Toy Car

“I am 10 years old. I am deaf. I live with my mum and 2 older sisters. I received a gift at the Christmas grotto, it was a great toy car. I have races with my friends.”

Alice’s Beauty Kit

Alice is a single parent of 3 who works 25 hours a week. The children have never been able to buy her a Mother’s Day present as there’s no money left beyond essentials. With craft and pamper items from Giving World, the children made a beauty kit basket and a Mother’s Day card for their mum. They were so excited and Alice was overwhelmed – it was the first present she had received in a long time.

Shirley’s Throw

“I lost my sight 30 years ago. I am struggling with the rising cost of living. I was given a throw and it is wonderful. I sit with this throw as the heating is switched off.”

Giving World 04

03

Annual Report & Accounts 2022

8%

3%

Low Income & Single Parent Families

“As a family we have found the shortage of things very embarrassing, thank you for your help.”

“Raising a family on my own it is often difficult to make ends meet. As a single dad my priority is my two girls. Small things go a long way to help me. Providing my children with toys for Christmas and the food kits really help. It has been nice to know that others care about me and my family.”

“Thank you for making me feel I am not a bad parent at Christmas. The gifts I received made my girls’ Christmas.”

Children

“I don’t receive gifts. I come here because I get a present.”

“The little boy we applied for had asked for curtains on his Christmas list. We spoke to his parents and they had said that Christmas was going to be tough for them. We received a range of toys and gifts and were able to take them to the family.”

“One of the children came over and said he was very excited as he had never been to a party before. I showed him the hats and tooters and let him try them.”

“I managed to give my daughter a birthday present. The look on her face was magical.”

Elderly

“I have poor mobility and do not get out much. The massager has helped with the pain in my shoulder as I suffer from arthritis.”

“Very grateful to have a first aid kit as I have dyspraxia and often get minor injuries due to stumbles or falls. Giving World helps to meet my needs.”

Homeless

“I moved into the hostel with nothing apart from my clothes. Good to know that the hostel staff can request items on my behalf (sanitary, cleaning, washing items) to make my stay here more comfortable.”

“I hope the companies that make donations realise how valuable they are to so many, and what a difference they make helping people like me towards a better life.”

Giving World 06

05

Annual Report & Accounts 2022

Aid for Ukrainians

Although the majority of our work is done within the UK, when Russia invaded Ukraine in February, we looked straight to our resources in order to help Ukranians in need. Some began to flee Ukraine immediately, while others had to remain in their country as war took hold, starved of their basic needs.

When we called out to our Donor Partners, the response was overwhelming. Our incredible network of companies large and small rushed to the aid of those suffering with donations of food, drink and other vital supplies.

Collaborating with our partners in Lublin and Chelm, we rolled out trailers of instant noodles, soups, coffee, toiletries, clothing, bedding, medical hygiene supplies and more to refugees at the border, and for onward distribution into Ukraine.

In April we visited Dorohusk on the Poland/ Ukraine border to deliver aid bound for local councils in Lviv and other affected areas within Ukraine.

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v
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Mikolai’s Starlink Internet Kits

Mikolai is a pastor who led a congregation in Mariupol. He safely relocated to Lublin, staying with his daughter and Polish son-in-law. Thanks to internet kits donated by Starlink, he was able to provide daily support to those hauled up in the Azov steel works. He was able to set up a hostel – a safe haven for Mariupol refugees near the Ukrainian-Polish border – and regularly drive aid into Ukraine.

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Annual Report & Accounts 2022 Giving World 08
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07

GIFTED

Get Inspired for Training, Employment & Development

GIFTED is back to normality!

2022 was a busy and restorative year for GIFTED, resuming its programme of skills training for young people and adults with complex needs, including learning difficulties, mental health needs and physical disabilities.

Despite the uncertainty presented by the pandemic in 2020 and 2021, GIFTED was able to offer continuity and support to participants via a range of communication channels such as online sessions, WhatsApp, one-to-one calls and a monthly newsletter. During the warmer months of 2021, outdoor walk-and-talk sessions took place in a local park, providing a perfect transition from a long period of isolation for many, to the social interaction of indoor sessions, which tentatively resumed at Giving World in February 2022, and have continued uninterrupted since.

EG: “I look forward to meeting up with the same bunch of lovely people. Although there is time to chat as we work methodically, I like the chance to concentrate and focus on the task in hand. The finished result each week gives me a bit of a sense of pride.”

Building the GIFTED programme back to prepandemic levels has required adaptability and elasticity in the face of constant challenges – but regular enquiries about sessions from special needs schools, colleges and adult social care, were testament to the value they placed on the range of skills and experience gained by participants attending GIFTED.

GIFTED has responded attentively to a rapidly changing environment. The programme has offered dependability over the uncertainty of the last 3 years. Participants feel useful contributing to their wider community by processing the goods donated to Giving World. The regularity and security the sessions offer strengthens companionship and mutual support, and as a regular participant commented: “It’s like being part of a family.”

CF: “ The sessions get me out of the house doing something and helps me with my counting skills. During lockdowns I was in my bedroom all the time so the 1:1 calls were helpful to stay in contact and the outdoor sessions got me out of the house during that period. ”

With increasing demand from schools and colleges wishing to give vulnerable students high quality skills and work experience, GIFTED will continue to offer 8-week placements to young people with special needs exploring their future career options. Our weekly drop-in, Packing Lounge, will continue to be available to adults with mental health needs – both regulars and newcomers – offering a space to socialise, develop skills and engage in a meaningful activity.

Jo D’Ovidio

GIFTED Programme Manager

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Annual Report & Acounts 2022 Giving World 10
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09

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The Year Ahead
As the cost of living crisis continues to take hold,
the year ahead is set to be the most challenging
one yet for a rapidly increasing number of
individuals and families. People living on the
poverty line – and falling into poverty – will reach
an all-time high.
Even more working parents will struggle to
afford basic food, clothing and shelter. They will
be forced to skip meals, rely on foodbanks and
borrow money.
Even more children around us will be going
to school hungry, bullied for wearing an old
uniform, and missing out on activities with
friends.
As ever, we’re dedicated to doing all we can to
alleviate this immense strain on our communities.
But this year, we’ve really got our work cut out.
4.2 million
children
living in poverty in the
UK in 2021-22 (29% of
all children)
11
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So, where do we start?

Poverty affects physical health, mental wellbeing and heartbreakingly, life chances. We want to welcome as many people as possible with open arms, and provide them with the life essentials they need to keep themselves and their families safe and healthy throughout this difficult year. This means we’ll have more work to do than ever. And we simply can’t do it alone.

If you have the means to join us in preventing people from poverty, you will quite literally be changing – and saving – lives this year.

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71% of children
growing up in poverty
live in a household
where at least one
person is working
Annual Report & Accounts 2022 Giving World 12
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Annual Report & Accounts 2022 Giving World 12

Giving World Financial Statements

for the Year Ended 31 December 2022

Contents

Reference & Administrative Details 14
Strategic Report 15
Trustees’ Report 15
Statement of Trustees’ Responsibilities 18
Independent Examiner’s Report 19
Statement of Financial Activities 20
Balance Sheet 21
Notes to the Financial Statements 22

Reference & Administative Details

Trustees

Patrons

Charles Fowler M.A. Oxon Marthe Larson Dip.Art Oxon Arthur Bastings Therese Grankvist

Hilary Jenkinson Pushpa Mistry Vardhana Bhalla (appointed 04.06.22)

Secretary Ms Rama Bhalla

Senior Management Team

Ms Sujata Sabharwal, Resources Director Ms Rama Bhalla, Projects Director

Principal Office

Registered Office

92 Burleys Way Leicester LE1 3BD

92 Burleys Way Leicester LE1 3BD

Charity Registration Number 1105883

Company Registration Number

05184361 The charity is incorporated in the UK

Bankers

Independent Examiner

CAF Bank Ltd West Malling Kent

Harley Luke ICAEW, FCA 38 Fairmead Road N19 4DF

Company registration number: 05184361 Charity registration number: 1105883

Annual Report & Accounts 2022 Giving World 14

13

Strategic Report for the Year Ended 31 December 2022

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 December 2022, in compliance with s414C of the Companies Act 2006.

Key Financial Performance Indicator Unit 2022 2021
Cost per benefciary Pence 32.59 33.60

Financial Review

Policy on reserves

To ensure the charity can continue its critical supplies distribution service, without interruption to operations in the current economic climate of inflationary pressures, we are maintaining a reserves level equal to eight months operating costs, represented in the charity’s free unrestricted funds.

Additionally, the GIFTED programme five year funding from the National Lottery ends in 2023. To safeguard the programme beyond this funding and ensure we continue to deliver outcomes for existing vulnerable beneficiaries, the Trustees’ will create a GIFTED reserves fund from the charity’s free unrestricted funds.

Funds in deficit

There are no funds in deficit.

Principal funding sources

Funding is received from a number of sources, including grant giving Trusts and Foundations and its trading subsidiary Personal Care Packs.

Investment policy and objectives

The charity does not invest funds other than Cash Deposits with FCA approved Deposits and Savings Protection. The Investment of £100 in Personal Care Packs Ltd is stated at fair value.

The strategic report was approved by the trustees of the charity on 25th June 2023 and signed on its behalf by:

To relieve poverty and sickness and to advance education by the provision of financial aid, grants, goods, equipment and by other such means as are exclusively charitable as the trustees in their absolute discretion determine.

We distribute new business end of line stock and equipment to people living in poverty across the UK. Essential supplies are given for free to the most vulnerable in our communities.

Objectives, Strategies and Activities

In 2022 we redistributed 3,085,116 (2021: 3,279,566) brand new business surplus products to 664,977 (2021: 900,421) people in need.

In response to the pandemic and the cost-of-living crisis, income levels increased during 2020 and 2021, enabling a rapid upscale in the volume of life essential goods distributed by Giving World to people in need, increasing almost threefold from 1.1m in 2019 to 3.08m in 2022.

Demand for community welfare support remained strong in 2022 and continues to do so across the country (CAF Charity Resilience Index, 2023). The voluntary sector is facing unprecedented demand on resource, managing increasing costs, reduced income and lower numbers of volunteers.

With the rapidly changing environment and the burgeoning demand for welfare support in some parts of the country, in 2022 Giving World sought to partner with another community-based organisation.

In preparation for this potential partnership, the charity’s governance and HR procedures underwent significant review and were updated in line with all current statutory guidance. This resulted in one off legal and professional fees in 2022.

Unfortunately, despite substantial progress the agreement between the two parties ultimately broke down. However, Giving World was able to continue its service without detriment to our communities, beneficiaries, or partners, continuing to achieve distribution of 3.08m products in 2022.

The experience of the aborted partnership along with the rapidly changing and volatile economic climate led us to implement a range of measures that have changed, improved and streamlined the charity’s operations. These include improved IT technology, staffing changes (including overall staff reductions and hybrid working) and recruiting more volunteers.

With income levels settling back to pre-pandemic levels in 2022, all of these measures will reduce overall costs by approximately £30,000 per annum, effective from 2023. We are confident of maintaining annual distributions of 3m products within the current resources.

Public Benefit

Hilary Jenkinson Trustee

Giving World’s only mandate is to help people in need through the distribution of business surplus products for free to communities in need.The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Going Concern

Trustee’s Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2022

The Charity is adequately funded and there are no material uncertainties with the ability to continue.

Structure, Governance and Management

Nature of Governing Document

Objectives and Activities

Objects and Aims

The charitable company is constituted under a Memorandum of Articles and is governed by its Articles of Association. The liability of its members in the event of the company being wound up is limited to £1.

The company is registered as a charity and its Charitable Objects are:

Annual Report & Accounts 2022 Giving World 16

15

Recruitment and appointment of trustees

Prospective new trustees are invited to attend meetings informally to gain an understanding of the organisation and their role and responsibilities. New trustees are given copies of the charity’s legal documents, management information and accounts, together with general reading material about the charity and Charity Commission literature. This is followed by meetings with the Chair and other Trustees.

Creditor payment policy

Payments are made within 30 days to suppliers

The annual report was approved by the trustees of the charity on 25th June 2023 and signed on its behalf by:

Arrangements for Setting Key Management Personnel Remuneration

Key Management is involved in the distribution of surplus product, income generation and organising of volunteers with remuneration set by Trustees.

Hilary Jenkinson

Organisational Structure

Strategic Governance is through the Charity Trustees who set the overall parameters for the organisation, ensures it meets its charitable objectives and produces an annual report. Day to day management is allocated to two Directors. The current team of trustees and directors are experienced community members with a range of financial, accounting and business development experience.

Relationship with related parties

Personal Care Packs Ltd

Personal Care Packs Ltd supplies and distributes Health Care Products.

Financial Instruments

Objectives and Policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The Charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The Charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Trustee

Statement of Trustee’s Responsibilities

The trustees (who are also the directors of Giving World for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charity on 25th June 2023 and signed on its behalf by:

Liquidity risk

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Hilary Jenkinson Trustee

Employment of disabled persons

The Company operates an equal opportunities policy.

Annual Report & Accounts 2022 Giving World 18

17

Independent Examiner’s Report to the Trustees of Giving World

Statement of Financial Activities for the Year Ended 31

December 2022

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 20 to 27.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Giving World (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 Giving World 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 your charity’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

I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Giving World as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

Date: 25th June 2023 ICAEW, FCA 38 Fairmead Road N19 4DF

Harley Luke

(Including Income & Expenditure Account and Statement of Total Recognised Gains & Losses)

Note Unrestricted
Funds
£		 Restricted
Funds
£		 Total
2022
£		 Total
2021
£
Income and Endowments from:
Donations and Legacies 3 167, 931 68, 861 236, 792 394, 950
Investment Income 4 2, 254 2, 254 1, 181
Total Income 170, 185 68, 861 239, 046 396, 131
Expenditure on:
Charitable Activities 5 165, 974 93, 423 259, 397 322, 960
Governance Costs 6 3, 793 3, 793 845
Total Expenditure 169, 767 93, 423 263, 190 323, 805
Net Income 418 (24, 562) (24, 144) 72, 326
Net Movement in Funds 418 (24, 562) 24, 144) 72,326
Reconciliation of Funds:
Total Funds brought forward 227, 112 129, 387 356, 499 284, 173
Total Funds carried forward 16 227, 530 104, 825 332, 355 356, 499
Note Unrestricted
Funds
£		 Restricted
Funds
£		 Total
2021
£
Income and Endowments from:
Donations and Legacies 3 244, 160 150, 790 394, 950
Investment Income 4 1, 181 - 1, 181
Total Income 245, 341 150, 790 396, 131
Expenditure on:
Charitable Activities 5 182, 980 140, 825 323, 805
Total Expenditure 182, 980 140, 825 323, 805
Net Income 62, 361 9, 965 72, 326
Net Movement in Funds 62, 361 9, 965 72, 326
Reconciliation of Funds:
Total Funds brought forward 164, 751 119, 422 284, 173
Total Funds carried forward 16 227, 112 129, 387 356, 499

All of the charity’s activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 16.

Annual Report & Accounts 2022 Giving World 20

19

(Registration number: 05184361) Balance Sheet as at 31 December 2022

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Note 2022 £ 2021 £
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Note 2022 £ 2021 £
Fixed Assets:
Tangible Assets 11 8,016 12, 024
Investments 12 100 100-
8, 116 12, 124
Current Assets:
Debtors 13 40, 077 69, 218
Cash at Bank and in Hand 14 285, 453 275, 877
325, 530 345, 095
Creditors: Amounts fallingdue within oneyear 15 (1, 291) (720)
Net Current Assets 324, 239 344, 375
Net Assets 332, 355 356, 499
Funds of the charity:
Restricted Income Funds
Restricted Funds 104. 825 129, 387
Unrestricted Income Funds
General Reserves 227, 530 227, 112
Total Funds 16 332, 355 356, 499

For the financial year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Notes to the Financial Statements for the Year Ended 31 December 2022

1. Charity Status

The charity is limited by guarantee, incorporated in United Kingdom. The address of its registered office is:

92 Burleys Way Leicester LE1 3BD

2. Accounting Policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Giving World 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 notes.

Going concern

Directors’ responsabilities:

  1. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

  2. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The financial statements on pages 20 to 27 were approved by the trustees, and authorised for issue on 25th June 2023 and signed on their behalf by:

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and Endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Grants Receivable

Hilary Jenkinson Trustee

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Annual Report & Accounts 2022 Giving World 22

21

Investment Income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable Activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant Provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible Fixed Assets

Individual fixed assets costing £1000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and Amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset Class Depreciation Method and Rate Furniture and Equipment 20% Straight Line

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited

to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Trade debtors

Trade Debtors are amounts due from customers / Benefactors

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

3 Income from Donations and Legacies 3 Income from Donations and Legacies 3 Income from Donations and Legacies 3 Income from Donations and Legacies 3 Income from Donations and Legacies
Unrestricted
Funds
General
£		 Restricted
Funds
£		 Total
2022
£		 Total
2021
£
Grants, includingCapital Grants;
Grants from other Charities 167, 931 68, 861 236, 792 394, 950
167, 931 68, 861 236, 792 394, 950
4 Investment Income
Unrestricted
Funds
General
£		 Total
2022
£		 Total
2021
£
Interest Receivable and Similar Income;
Interest Receivable on Bank Deposits 2, 254 2, 254 1, 181
5 Expenditure on Charitable Activities
Unrestricted
Funds
General
£		 Restricted
Funds
£		 Total
2022
£		 Total
2021
£
Grant Fundingof Activities 76, 256 6, 680 82, 936 137, 909
Staf Costs 89, 718 86, 743 176, 461 185, 051
165, 974 93, 423 259, 397 322, 960

Annual Report & Accounts 2022 Giving World 24

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6 Analysis of Governance and Support Costs
Governance Costs
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6 Analysis of Governance and Support Costs 6 Analysis of Governance and Support Costs 6 Analysis of Governance and Support Costs 6 Analysis of Governance and Support Costs 6 Analysis of Governance and Support Costs
Governance Costs
Unrestricted
Funds
General
£		 Restricted
Funds
£		 Total
2022
£		 Total
2021
£
Staf Costs - - - 440
Wages and Salaries - - - -
Independent Examiner Fees - - - -
Examination of the Financial Statements 350 350 405
Othergovernance costs 3, 443 - 3, 443 -
3, 793 - 3, 793 845
7 Trustees Remuneration and Expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the
year.
No trustees have received anyreimbursed expenses or anyother benefts from the charityduringtheyear.
8 Staf Costs
The aggregatepayroll costs were as follows:
2022 £ 2021 £
Staf costs duringtheyear were:
Wages and Salaries 176, 461 185, 491

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:


the year expressed as full time equivalents was as follows:
2022 no. 2021 no.
Administration Staf 5 8

No employees received emoluments of more than £60, 000 during the year.

9 Independent Examiner’s Remuneration 9 Independent Examiner’s Remuneration 9 Independent Examiner’s Remuneration
2022
£		 2021
£
Examination of the fnancial statements 350 405
10 Taxation
The charityis a registered charityand is therefore exempt from taxation.
11 Tangible Fixed Assets
Cost Furniture and
Equipment
£		 Total
£
At 1 January2022 84, 040 84, 040
At 31 December 2022 At 31 December 2022 At 31 December 2022 84, 040 84, 040
Deprecation
At 1 January2022 72, 016 72, 016
Charge for the Year 4, 008 4, 008
At 31 December 2022 76, 024 76, 024
Net Book Value
At 31 December 2022 8, 016 8, 016
At 31 December 2021 12, 024 12, 024
12 Fixed Asset Investmenrs
2022
£		 2021
£
Other Investments 100 100
13 Debtors
2022
£		 2021
£
Trade Debtors 75 65
Due from GroupUndertakings 40, 002 69, 157
VAT Recoverable - (4)
40, 077 69, 218
14 Cash and Cash Equivalents
2022
£		 2021
£
Cash on Hand 144 8
Cash at Bank 285, 309 275, 869
285, 143 275, 877
15 Creditors: Amounts fallingdue within oneyear
2022 £ 2021 £
Other Taxation and Social Security - -
Other Creditors 1, 291 1, 095
Accruals - (375)
1, 291 720
16 Funds
Balance at 1
January 2022
£		 Incoming
Rescources
£		 Resources
Expended
£		 Balance at
31 December
2022
£
Unrestricted Funds
General 227, 112 170, 185 (169, 767) 227, 530
Restricted Funds

Annual Report & Accounts 2022 Giving World 26

25

Balance 129, 387 68, 861 (93, 423) 104, 825
Total Funds 356, 499 239, 046 (263, 190) 332, 355
Balance at 1
January 2021
£		 Incoming
Rescources
£		 Resources
Expended
£		 Balance at
31 December
2021
£
Unrestricted Funds
General
General Reserves 164,751 245, 341 (182, 980) 227, 112
Restricted Funds
Balance 119, 422 150, 790 (140, 825) 129, 387
Total Funds 284, 173 396, 131 (323, 805) 356, 499
17 Related PartyTransactions
Duringtheyear the charitymade the followingrelatedpartytransactions:
Premises Available to Charity
Giving World has been granted a lease for a period of 15 Years from 1 March 2011 at 92 Burleys Way. Two members
of the SMT are related to the lessor of the Building.
The annual rental is £9,500 which is below the current market value of £38,500 per annum. At the balance sheet date
the amount due to/from Premises made available to Charitywas £Nil(2021 - £Nil).

17 Related Party Transactions

During the year the charity made the following related party transactions:

Premises Available to Charity

Giving World has been granted a lease for a period of 15 Years from 1 March 2011 at 92 Burleys Way. Two members of the SMT are related to the lessor of the Building.

The annual rental is £9,500 which is below the current market value of £38,500 per annum. At the balance sheet date the amount due to/from Premises made available to Charity was £Nil (2021 - £Nil).

Detailed Statement of Financial Activity for the Year Ended 31 December 2022

December 2022
2022 2022
Unrestricted
Funds
Total Funds General
£		 Restricted
Funds
£		 Total
£		 Total 2021
£
Income and Endowment from:
Donations and Legacies(analysed below) 167, 931 68, 861 236, 792 394, 950
Investment Income(analysed below) 2, 254 2, 254 1, 181
Total income 170, 185 68, 861 239, 046 396, 131
Expenditure on:
Charitable Activities(analysed below) (169, 767) (93, 423) (263, 190) (323, 805))
Total Expenditure (169, 767) (93, 423) (263, 190) (323, 805))
Net Income 418 (24, 562) (24, 144) 72, 326
Net Movement in Funds 418 (24, 562) (24, 144) 72, 326
Reconciliation of Funds:
Total Fund brought forward 227, 112 129, 387 356, 499 284, 173
Total Funds carried forward 227, 530 104, 825 332, 355 356, 499
2022 2022 2022
Unrestricted
Funds
General
£		 Restricted
Funds
£		 Total
£		 Total 2021
£
Donations and Legacies:
BigLotteryGrant - 57. 361 57, 361 81, 204
VoluntaryIncome - 11, 500 11, 500 69. 586
VoluntaryIncome 138, 931 - 138, 931 163, 571
Gift Aid from Subsidiary - - - 29, 389
Other Income 29, 000 - 29, 000 51, 200
167, 931 68, 861 236, 792 394, 950
2022 2022
Unrestricted
Funds
General £ Total £ Total 2021 £
Investment Income
Interest on Cash Deposits 2, 254 2, 254 1, 181
2, 254 2, 254 1, 181
2022 2022
Unrestricted
Funds
General
£		 Restricted
Funds
£		 Total
£		 Total 2021
£
Charitable Activities
Donated Services and Sponsorship (29, 000) - (29, 000) (51, 200)
Freight and Carriage (7, 963) - (7, 963) (9, 231)
BuildingRefurbishment - - - (2, 875)
BuildingMaintenance - - - (16, 412)
BuildingRefurbishment - - (11, 211)
Staf and Volunteer Costs (89, 718) (86, 743) (176, 461) (98, 214)
Staf and Volunteer Costs - - - (86, 837)
Rent (9, 500) - (9, 500) (9, 500)
Light, Heat and Power (2, 402) (5, 671) (8, 073) (6, 202)
Insurance (1, 291) - (1, 291) (840)
Insurance - - - (1, 091)

Annual Report & Accounts 2022 Giving World 28

27

2022 2022 2022
Unrestricted
Funds
General
£		 Restricted
Funds
£		 Total
£		 Total 2021
£
Equipment Repairs and Renewals (2, 615) - (2, 615) (3, 024)
Equipment Repairs and Renewals - - - (1, 420)
Telephone and Fax (524) (909) (1, 433) (1, 838)
Computer Software and Maintenance Costs (3, 048) - (3, 048) (5, 640)
Computer Software and Maintenance Costs - - (2, 200)
Printing, Postage and Stationery - - - (44)
Trade Subscriptions (98) - (98) -
SundryExpenses - - - (12)
SundryExpenses (404) - (404) (256)
Travel and Subsistence (676) - (676) (52)
Marketing (156) - (156) (139)
Bank Charges (84) - (84) (97)
Business Development (9, 998) - (9, 998) (10, 110)
Legal and Professional Fees (3, 433) - (3, 433) (497)
Governance Costs (3, 443) - (3, 443)
Depreciation of Equipment (4, 008) - (4, 008) (4, 008)
Staf and Volunteer Costs - (100) (100) (400)
Staf and Volunteer Costs (1, 056) - (1, 056) (40)
Independent Examiner’s Fee (350) - (350) (405)
(169, 767) (93, 423) (263, 190) (323, 805)

29