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← Giving World

2023-12-31-accounts

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OF GIVING

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ANNUAL REPORT AND ACCOUNTS 2023

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

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CONTENTS 3
OUR PURPOSE 4
OUR THEORY OF CHANGE 8
OUR THEORY IN ACTION 10
GIFTED 18
LOOKING AHEAD... 23
FINANCIAL STATEMENTS 25

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

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

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5

OUR PURPOSE

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WHO WE ARE
OUR
VISION:
A fair society where
nothing is wasted and
nobody is in need
OUR OUR
DRIVE: PURPOSE:
Collaboration to reduce To reduce poverty
need and promote hope and protect the
and mutual support environment
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OUR PURPOSE

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

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DOING THE MATHS

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£2 14.5
BILLION: + MILLION:
worth of surplus goods people living in poverty —
generated in the UK and that figure is rising
each year
OUR
SIMPLE
=
SOLUTION
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We redistribute business excess life essentials like shampoo, bedding, nappies, washing powder and warm clothing to people in the UK who need them the most. These include vulnerable children and families, homeless people, those suffering from mental health problems or addictions and isolated elderly and disabled people.

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DOING MORE FOR LESS

Our goal is to help as many people as we can, so we’re continuously striving to make our monetary donations go further. Our costs currently stand at 30p per intervention, in 2022 they were 33p and in 2021, 34p. Proof that every penny counts.

2023 IN FIGURES

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749,032 3,011,561 4,532
people helped products distributed tonnes of CO2e emissions
saved from landfill
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Throughout the year Giving World distributed over 3 million products that directly helped almost 750,000 people and saved over 4,500 tonnes of CO2e emissions from landfill. We continued to develop trusted relationships with our company donors and welcomed 26 new donor companies.

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HOW WE DO IT

Our dedicated network of close to 7,000 donor and distribution partners helps us achieve national coverage. Donor partners are private companies who trust us with their end-of-line and discontinued products. We redistribute these goods, at no cost, to people in need via charities and community and neighbourhood groups.

We could not do the work we do without the help of our supporters. So, we’d like to extend a heartfelt thank you to our funders, company donors, charity partners, volunteers and staff. Thank you!

With Giving World everyone wins!

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GIVING WORLD DONOR
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OUR THEORY OF CHANGE

L I F T

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L the Leverage power of surplus goods

I

I Inspire community action F Fulfil essential needs Transform T lives

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T

See our Theory of Change in action

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LEVERAGING THE POWER OF SURPLUS GOODS AS THE COST OF LIVING CRISIS CONTINUED

2023 continued to present serious challenges in the UK and the wider world. As the cost of living crisis deepened, so too did the need for our support.

Reports revealed that around 4.2 million children (that’s 3 in 10 children) across the UK are living in poverty, with families struggling to afford everyday necessities including food, heating, school uniforms and clothing. One million children are reported to have experienced the most severe form of hardship: destitution.*

The prospects of children growing up in poverty are severely impacted, with lower attainment at school, lower wages into adulthood and poor health and wellbeing outcomes.

We continued to support children and families with their basic needs, distributing over 3m life essential products in 2023, simultaneously saving over 4,500 tonnes of CO2e emissions from landfill.

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*Joseph Rowntree Foundation

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GIVING WORLD BENEFICIARY

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Case Story: 1

Our lives were in a mess. My husband suffered an accident, and due to the ongoing health issues he faced after dedicating over three decades to the same company, he had to step down from his position. I, too, had a full-time job but had to become his caregiver at home, all while caring for our three children.

table, and a significantly reduced level of stress. We can’t thank you enough for helping us through this difficult time.

With the added burden of rising mortgage and utility costs, putting food on the table became an immense challenge. That’s when we were blessed with three boxes of household items from Giving World, it certainly was one of the lifelines that sustained us as we adjusted to this new way of life.

GIVING WORLD BENEFICIARY

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Your generosity, along with the kindness of many others, has allowed us to adapt and implement safety measures. We continue to have a roof over our heads, food on the

GIVING WORLD DONOR

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INSPIRING COMMUNITY ACTION AS SMALL CHARITIES HIT THE HARDEST

2023 continued to present challenges for small charities in manifold ways. Inflation meant that donation valuations diminished, while the need for their services increased. Small charities like Giving World make up 80% of the charity sector.

According to Pro Bono Economics findings in their Tale of Two Sectors report: “Financial pressures were compounded by difficulties in recruiting volunteers. The great volunteering decline nationally is hitting small charities hardest – 59% reported that recruiting volunteers was a major concern, compared to 15% of large charities.” *

In 2023 almost half, 44%, of our charity distribution partners had an annual income of less than £10,000, and 85% had an income of less than £250,000.

OUR CHARITY PARTNERS BY INCOME:

Under £10,000

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4% 1%
10%
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£10,000 to £99,999

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10%
44% 15%
26%
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£100,000 to £249,999

£250,000 to £499,999

£500,000 to £999,999

Over £1 million

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26%
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Case Story: 2

I am in my 40s and have lived in this area all my life. I live on my own with my three children and my mum lives a few minutes from me. Two of my children have special needs and right now, everything is really a struggle.

It’s really difficult to explain to the children why it’s cold at home. I used to put £20 on my gas and electric each week and now it’s more than double that and watching the meter showing how much we’re using makes me so anxious. I’m not managing really, I borrow from my mum most weeks, sometimes I pay her back and other times she lets it go. We eat at hers two nights a week to save money.

If community centres like this can have more help like this, they can help more people. All the prices in the shops have gone up so much, even for basic things like toilet rolls, bread and milk. I hope the centre carries on helping us all with the things we need.

GIVING WORLD BENEFICIARY

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We’re so lucky to have a centre so close by. I’ve been able to get quilts and blankets for the kids’ beds. Last week, they also gave us some toys for Christmas.

“Working with Giving World, we donate our surplus stock to those who are living in poverty and need the products most. We’ve donated a variety of

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GIVING WORLD DONOR

GIVING WORLD CHARITY PARTNER

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FULFILLING ESSENTIAL NEEDS FOR THOSE WHO NEEDED US MOST

Data from The Joseph Rowntree Foundation has shown that half of the poorest families say they have reduced spending on food for adults and around 4 in 10 families with children are reported to be spending less on food for their children. Half are already reducing the number of showers they take and around 6 in 10 are heating their homes less.

Almost 50% of our beneficiaries in 2023 were vulnerable families, children and young people.

OUR BENEFICIARIES BY CATEGORY:

1% 3% 1% 1%

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4%
7%
25%
14%
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Children and young people

Families living on low income

Other vulnerable/isolated groups

Charity’s own use

Adults on low incomes

Adults in ill health

Homeless adults

Parents and their children fleeing abuse

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24%
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Elderly people

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20%
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Adults with mental health problems

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Case Story: 3
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My name is Sophie, a single mother with a family of three children. I recently lost my job and was dreading Christmas time because I know I wouldn’t be able to buy any toys for my toddlers because I am still struggling to feed and keep them warm. I attended a local community event where my children received toys and warm clothing, thank you.

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GIVING WORLD BENEFICIARY

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TRANSFORMING LIVES...

In 2023 we gave thousands of people dignity and peace of mind. We provided them the breathing space to get back on their feet and take steps towards recovery, employment and more secure, healthier lives.

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GIVING WORLD BENEFICIARY

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GIVING WORLD DONOR

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GIVING WORLD DONOR

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GIVING WORLD BENEFICIARY

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Case Story: 4
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I recently left a refuge and am now residing in my own flat with five children aged between four and eleven. I fled an abusive relationship where there was coercive and financial control.

Due to my husband controlling every aspect of my life, I was never allowed to work. I am currently on benefits and this is how I am supporting myself and my children. It is incredibly hard trying to furnish a new flat whilst paying bills, buying food, school uniforms and clothes for the children.

Without these items our situation would have been dire. I don’t think we would have been able to get this help from anywhere else.

Receiving these products has made me feel less guilty as a mother about not being able to provide for my children and has given me muchneeded breathing space. Giving World and its donors are a lifeline to people and families that find themselves in situations like mine, helping us to get back on our feet. Now I can look to the future, do some training and get a job.

Giving World has provided us with blankets, clothes, plates, mugs, pots, school uniforms, household cleaning products, toys and stationery. The items came at exactly the right time as we were in transition from the refuge into our own place and I had nothing to make it homely and safe for my children.

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GIVING WORLD BENEFICIARY

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GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

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A GOOD YEAR FOR GIFTED

2023 marked the successful completion of GIFTED’s five-and-a-half-year National Lottery funding. The Covid 19 pandemic had a major, detrimental impact on our beneficiaries and much of the work completed throughout the year was rebuilding the programme to pre-pandemic levels. We are delighted to report that 98 participants took part in GIFTED activities throughout the year.

GIFTED

Get Inspired for Training, Employment & Development

WHAT IS GIFTED?

GIFTED has been running for twelve years, developing organically since inception in 2012. The programme is a mix of structured developmental programmes, including a Basic Skills programme; and regular interventions: the Packing Saloon and Packing Lounge, for participants with learning disabilities and mental and physical health needs. Centred around Giving World’s redistribution processes and operations, the initiative develops life skills, reduces isolation and builds confidence and independence.

“It's good for mental health mixing with other people. I've been able to learn different skills like in a job situation.”

TO THE FUTURE

GIFTED PARTICIPANT

Our rebuilding work paid off and we are pleased to report a re-opening of the weekly Packing Saloon outreach session. The Packing Saloon had been suspended for over three years due to the pandemic, but working closely with Leicestershire Partnership NHS Trust, this activity resumed in summer 2023 for in-patients and out-patients of the Bradgate Mental Health Unit at Glenfield Hospital. It complements the long-running Packing Lounge drop-in sessions, providing regular and transformative support for vulnerable adults.

In addition to maintaining good relations with long-standing partners, several new referral agencies have started to work closely with Giving World for Basic Skills training, these include Sense College, Homefield College, and Maplewell Hall School. In April 2023, we re-introduced our quarterly forum for referral partners so we can all share knowledge and hear about each other’s experiences and challenges. This forum has been well attended and continues to be beneficial for Giving World and its partners.

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We continued to develop new initiatives to respond to and manage demand, including increasing capacity to provide the opportunity for new people to join the programmes. In turn, this has enabled new referrals to take up these places.

Post National Lottery funding, the GIFTED programme has been incorporated within Giving World’s core activities as we continue these successes into 2024, building the programme and transforming the lives of our participants.

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GIFTED Case Story: 1

Anuj and Karim ‘Going to Work’ at the Packing Lounge Anuj and Karim were referred to the Packing Lounge by Caroline Spencer, Adult Social Care & Education, Leicester City Council.

Anuj had undertaken some activities before joining GIFTED but his parents were concerned that he might struggle with the tasks involved in the Packing Lounge. Their concerns were misplaced. Anuj has quickly learned how to complete various tasks, developing impressive counting skills, building friendships and working on his own initiative. He has a structure to his day, enjoys attending and this has helped build his confidence.

Karim and Anuj have built a strong friendship since meeting at the Packing Lounge, supporting each other. At Christmas, they had fun together decorating the GIFTED room. Yasmin, Karim’s sister and carer, says, “Karim looks forward to coming to Giving World and misses it if he’s not able to come. He’s always delighted to have his photo in the GIFTED newsletter and I’m creating a memory book with Karim of all the good times he is having.”

Karim had moved from London to Leicester and his family were keen for him to get out in the local area, make new friends and build structure to his day. Attending the Packing Lounge has had a major impact on his life, and that of his family. He has built friendships, especially with Anuj, and he now has experiences of the day to share with his family. He is able to get to and from the Packing Lounge independently and he refers to it as, ‘going to work’. Karim’s mental health has improved, helping him to build trusting relationships outside his immediate family.

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GIFTED Case Story: 2

George ‘Bagged It’

George wanted to develop his personal skills to support his efforts for social and community inclusion.

to his 1:1 support as he now knows the steps. George is focusing and staying longer on tasks as he becomes more comfortable in the environment and he even worked through break time! The placement has given George confidence: he’s blown me away.”

ASD and sensory modulation disorder mean that engaging with a work experience placement is a major achievement for George and his family.

His development on Basic Skills has been a revelation to Lisa, George’s Progress Mentor. Upon George receiving his completion certificate, Lisa said, “This has been a ‘wow’ moment for George. He’s progressed by passing the bag

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“The sessions help me feel like I'm doing something useful and contributing to something good.”

GIFTED PARTICIPANT

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GIFTED Case Story: 3

Delivering GIFTED

GIFTED Programme Manager Jo Watson-D’Ovidio shares her reflections on the programme.

The most rewarding part of being the GIFTED Programme Manager is hearing directly from participants or support staff, that the project has been instrumental in making a positive difference to participants’ lives. Whether they’ve taken small strides or big; enhanced work, volunteering or life skills; become more confident and independent; formed friendships; or feel purposeful and valued, it is inspiring to be part of the programme’s impact.

I learn much too through collaborating with an immeasurable number of people: participants, support staff, referral partners, hospital patients and nursing staff. Through our evaluation process and through the many conversations that are held across toys, pens, envelopes, toiletries, clothing and patient care packs, it’s encouraging to witness the range of benefits both big and small that such a project brings to so many.

I’m looking forward to continuing the GIFTED journey.

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LOOKING AHEAD...

Charities like ours continue to face increased demand in the face of sustained financial challenges.

7 out of 10 children living in poverty have at least one parent in paid work.*

The Resolution Foundation forecast in September 2023 that “absolute poverty will increase by 300,000 in 2024/25 to bring the rate to 18%, and is expected to reach its highest levels since 1998/99 in 2027/28.”*

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Absolute poverty refers to when a person (or household) does not have the minimum amount of income needed to meet the minimum living requirements needed over an extended period of time. In other words, they cannot meet their basic needs.

Our work is ever more crucial. With continued support we’re here to do it all over again next year.

*Source: Child Poverty Action Group

**Source: House of Commons Library SN07096.pdf (parliament.uk)

GIVING WORLD DONOR

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GIVING WORLD CHARITY PARTNER

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FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023
REFERENCE & ADMINISTRATIVE DETAILS 26
STRATEGIC REPORT 27
TRUSTEES’ REPORT 28
STATEMENT OF TRUSTEES’ RESPONSIBILITIES 31
INDEPENDENT EXAMINER’S REPORT 32
STATEMENT OF FINANCIAL ACTIVITIES 33
BALANCE SHEET 34
NOTES TO THE FINANCIAL STATEMENTS 35
DETAILED STATEMENT OF FINANCIAL ACTIVITIES 42

Company registration number: 05184361 Charity registration number: 1105883

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REFERENCE & ADMINISTRATIVE DETAILS

STRATEGIC REPORT FOR THE YEAR ENDED

31 DECEMBER 2023

Trustees

Hilary Jenkinson (retired 19.09.23) Pushpa Mistry Vardhana Bhalla Bindu Majithia (appointed 13.05.23)

Secretary

Ms Rama Bhalla

Principal Office

92 Burleys Way Leicester LE1 3BD

Charity Registration Number

1105883

Bankers

CAF Bank Ltd West Malling Kent

Patrons

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

Senior Management Team

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

Registered Office

92 Burleys Way Leicester LE1 3BD

Company Registration Number 05184361 The charity is incorporated in the UK

Independent Examiner

Harley Luke FCA

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 December 2023, in compliance with s414C of the Companies Act 2006.

Achievements and performance

Key financial performance indicators

Unit 2023 2022
Cost per benefciary Pence 29.40 32.59

Financial review

Our goal is to help as many people as we can, so we’re continuously striving to make our monetary donations go further. Our costs in 2023 were circa 30p per intervention, in 2022 they were 33p and in 2021, 34p.

Policy on reserves

As the cost of living crisis continues, to ensure the charity can continue its critical supplies distribution service we are maintaining a reserves level equal to nine months operating costs, represented in the charity’s free unrestricted funds. Trustees feel this is a conscientious and prudent response in an increasingly unsettled economic and political climate, and the severe pressures facing the charitable sector, in particular small charities such as Giving World.

The current climate of inflationary pressures and minimum/living wage increases has significantly increased forecast staffing costs for 2024 by £27,308. Additionally, GIFTED successfully completed its five-year National Lottery funding in October 2023. We are committed to delivering this valuable programme which has demonstrated multiple benefits for young people and adults with complex needs. Therefore, GIFTED has been incorporated within Giving World’s core activities and Trustees have allocated the sum of £35,322 to continue the programme into 2024. This has resulted in total designated funds of £62,630 to safeguard these services.

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 17th July 2024 and signed on its behalf by:

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Bindu Majithia Trustee

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TRUSTEES’ REPORT

Structure, governance and management

Nature of governing document

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 2023.

Objectives and activities

Objects and aims

The company is registered as a charity and its charitable objects are:

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.

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.

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.

Objectives, strategies and activities

In 2023 we redistributed 3,011,561 (2022: 3,085,116) brand new business surplus products to 749,032 (2022: 664,977) people in need.

In addition, GIFTED supported 98 vulnerable adults with learning difficulties, physical disabilities and mental health needs to gain life and work skills, reduce social isolation, and take part in a meaningful activity. The final payment from the National Lottery for its 5 year funding of the GIFTED programme, received in November 2022, saw the programme funded through to October 2023. Trustees have allocated a sum of circa £35k from free unrestricted reserves to continue the programme into 2024.

The significant cost savings achieved in 2022 continued into 2023, though rising minimum/living wage costs and other inflationary pressures will see costs rise in 2024.

Notwithstanding, we are confident of maintaining an annual distribution of 3m products and continuing to deliver GIFTED.

Public benefit

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.

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 distributes by way of Gift Aid funds received from the supply and distribution of 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.

Going concern

There are no material uncertainties with the ability to continue.

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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.

Liquidity risk

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

Employment of disabled persons

The company operates an equal opportunities policy.

Creditor payment policy

Payments are made within 30 days to suppliers.

The annual report was approved by the trustees of the charity on 17th July 2024 and signed on its behalf by:

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Bindu Majithia

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 17th July 2024 and signed on its behalf by:

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Bindu Majithia

Trustee

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GIVING WORLD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

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

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 33 to 41.

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.

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Harley Luke ICAEW, FCA

38 Fairmead Road, N19 4DF Date: 17th July 2024

Note Unrestricted Restricted Total 2023 Total 2022
funds £ funds £ £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies 3 170,065 4,500 174,565
236,792
Investment income 4 4,880 — 4,880
2,254
Total income 174,945 4,500 179,445
239,046
EXPENDITURE ON:
Charitable activities 5 163,183 45,319 208,502
259,397
Governance costs 6 1,714 — 1,714
3,793
Total expenditure 164,897 45,319 210,216
263,190
NET INCOME 10,048 (40,819) (30,771)
(24,144)
Net movement in funds 10,048 (40,819) (30,771)
(24,144)
RECONCILIATION OF FUNDS
Total funds brought forward 227,530 104,825 332,355
356,499
TOTAL FUNDS CARRIED FORWARD 16 237,578 64,006 301,584
332,355
Note Unrestricted Restricted Total 2022
funds £ funds £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies 3 167,931 68,861
236,792
Investment income 4 2,254 —
2,254
Total income 170,185 68,861
239,046
EXPENDITURE ON:
Charitable activities 5, 6 169,767 93,423
263,190
Total expenditure 169,767 93,423
263,190
NET INCOME 418 (24,562)
(24,144)
Net movement in funds 418 (24,562)
(24,144)
RECONCILIATION OF FUNDS
Total funds brought forward 227,112 129,387
356,499
TOTAL FUNDS CARRIED FORWARD 16 227,530 104,825
332,355

All of the charity’s activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16.

34

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

35

FINANCIAL STATEMENTS

BALANCE SHEET AS AT 31 DECEMBER 2023

Note Total 2023 Total 2022
£ £
FIXED ASSETS:
Tangible assets 11 4,008 8,016
Investments 12 100 100
4,108 8,116
CURRENT ASSETS:
Debtors 13 46,550 40,077
Cash at bank and in hand 14 257,957 285,453
304,507 325,530
CREDITORS: Amounts falling due within one year 15 (7,031) (1,291)
Net current assets 297,476 324,239
Net assets 301,584 332,355
FUNDS OF THE CHARITY:
Restricted income funds
Restricted funds 64,006 104,825
Unrestricted income funds
General reserves 174,948 227,530
Designated funds 62,630 —
TOTAL FUNDS 16 301,584 332,355

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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

For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The financial statements on pages 33 to 41 were approved by the trustees, and authorised for issue on 17th July 2024 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

==> picture [57 x 41] intentionally omitted <==

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.

Bindu Majithia Trustee

36 FINANCIAL STATEMENTS

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

37

• Investment income

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

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:

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.

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.

Depreciation method and rate 20% Straight line

Asset class Furniture and equipment

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.

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.

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.

Designated income funds are specifically earmarked funds set aside by the Trustees, from unrestricted funds, for specific 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.

38 FINANCIAL STATEMENTS

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

39

3 INCOME FROM DONATIONS AND LEGACIES

Unrestricted funds Restricted Total Total
General funds 2023 2022
£ £ £ £
Grants, including capital gains;
Grants from other charities 170,065 4,500 174,565 236,792
170,065 4,500 174,565 236,792

4 INVESTMENT INCOME

4 INVESTMENT INCOME
Unrestricted funds Total Total
General 2023 2022
£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits 4,880 4,880 2,254

5 EXPENDITURE ON CHARITABLE ACTIVITIES

Unrestricted funds Restricted Total Total
General funds 2023 2022
£ £ £ £
Grant funding of activities 63,577 12,778 76,355 82,936
Staff costs 99,606 32,541 132,147 176,461
163,183 45,319 208,502 259,397

8 STAFF COSTS

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
2023 2022
£ £
Staff costs during the year were:
Wages and salaries 132,147 176,461

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:

2023 2022
No. No.
Administration staff 5 5

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

9 INDEPENDENT EXAMINER'S REMUNERATION

9 INDEPENDENT EXAMINER'S REMUNERATION
2023 2022
£ £
Examination of the fnancial statements — 350

10 TAXATION

The charity is a registered charity and is therefore exempt from taxation.

6 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS

Unrestricted funds Restricted Total Total
General funds 2023 2022
£ £ £ £
Staff costs — — — —
Wages and salaries — — — —
Independent examiner fees — — — —
Examination of the fnancial statements — — — 350
Other governance costs 1,714 — 1,714 3,443
1,714 — 1,714 3,793

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 any reimbursed expenses or any other benefits from the charity during the year.

11 TANGIBLE FIXED ASSETS

Furniture and equipment Total
£ £
Cost
At 1 January 2023 84,040 84,040
At 31 December 2023 84,040 84,040
Depreciation
At 1 January 2023 76,024 76,024
Charge for the year 4,008 4,008
At 31 December 2023 80,032 80,032
Net book value
At 31 December 2023 4,008 4,008
At 31 December 2022 8,016 8,016

40 FINANCIAL STATEMENTS

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

41

12 FIXED ASSET INVESTMENTS

2023 2022
£ £
Other investments 100 100

13 DEBTORS

2023 2022
£ £
Trade debtors — 75
Due from group undertakings 46,550 40,002
VAT recoverable — —
46,550 40,077

Group Undertakings includes £10,000 receivable after more than one year.

14 CASH AND CASH EQUIVALENTS

14 CASH AND CASH EQUIVALENTS
2023 2022
£ £
Cash on hand 57 144
Cash at bank 257,900 285,309
257,957 285,453

15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023 2022
£ £
Other taxation and social security — —
Other creditors 7,031 1,291
Accruals — —
7,031 1,291

16 FUNDS

Balance at Incoming Resources Transfer Balance at
1 January 2023 resources expended 31 December 2023
£ £ £ £
Unrestricted funds
General 227,530 174,945 (164,897) (62,630) 174,948
Designated 62,630 62,630
Restricted funds
Balance 104,825 4,500 (45,319) 64,006
TOTAL FUNDS 332,355 179,445 (210,216) — 301,584

Designated funds — the purpose of which is to set aside funds for minimum wages increases from April 2024, and to continue the GIFTED program following successful completion of the National Lottery funding.

Balance at Incoming Resources Balance at
1 January 2022 resources expended 31 December 2022
£ £ £ £
Unrestricted funds
General
General reserves 227,112 170,185 (169,767) 227,530
Restricted funds
Balance 129,387 68,861 (93,423) 104,825
TOTAL FUNDS 356,499 239,046 (263,190) 332,355

17 RELATED PARTY TRANSACTIONS

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

Premises made 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 (2022: £Nil).

42 FINANCIAL STATEMENTS

GIVING WORLD ANNUAL REPORT AND ACCOUNTS 2023

43

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted funds Restricted Total Total
General funds 2023 2022
£ £ £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies (analysed below) 170,065 4,500 174,565 236,792
Investment income (analysed below) 4,880 — 4,880 2,254
TOTAL INCOME 174,945 4,500 179,445 239,046
EXPENDITURE ON
Charitable activities (analysed below) (164,897) (45,319) (210,216) (263,190)
TOTAL EXPENDITURE (164,897) (45,319) (210,216) (263,190)
Net income 10,048 (40,819) (30,771) (24,144)
Net movement in funds 10,048 (40,819) (30,771) (24,144)
RECONCILIATION OF FUNDS
Total funds brought forward 227,530 104,825 332,355 356,499
TOTAL FUNDS CARRIED FORWARD 237,578 64,006 301,584 332,355
DONATIONS AND LEGACIES:
Big Lottery Grant — — — 57,361
Voluntary income — 4,500 4,500 11,500
Voluntary income 144,929 — 144,929 138,931
Gift aid from subsidiary 1,280 — 1,280 —
Other income 23,856 — 23,856 29,000
170,065 4,500 174,565 236,792
Unrestricted funds Total Total
General 2023 2022
£ £ £
INVESTMENT INCOME:
Interest on cash deposits 4,880 4,880 2,254
4,880 4,880 2,254
Unrestricted funds Unrestricted funds Restricted Total Total
General funds 2023 2022
£ £ £ £
CHARITABLE ACTIVITIES:
Donated services and sponsorship (23,856) — (23,856) (29,000)
Freight and carriage (13,903) — (13,903) (7,963)
Building maintenance (1,448) — (1,448) —
Staff and volunteer costs (99,606) (32,541) (132,147) (176,461)
Rent (9,500) — (9,500) (9,500)
Light, heat and power (2,632) (7,557) (10,189) (8,073)
Insurance (1,091) (800) (1,891) (1,291)
Equipment repairs and renewals (354) — (354) (2,615)
Telephone and fax (581) (324) (905) (1,433)
Computer software and maintenance costs (5,713) — (5,713) (3,048)
Printing, postage and stationery (503) — (503) —
Trade subscriptions (2,396) — (2,396) (98)
Sundry expenses (1,029) — (1,029) (404)
Travel and subsistence (59) — (59) (676)
Marketing (406) — (406) (156)
Bank charges (60) — (60) (84)
Business development — — — (9,998)
Legal and professional fees — — — (3,433)
Governance costs (1,714) — (1,714) (3,443)
Depreciation of equipment — (4,008) (4,008) (4,008)
Volunteer costs (46) (89) (135) (100)
Volunteer costs — — — (1,056)
Independent examiner's fee — — — (350)
(164,897) (45,319) (210,216) (263,190)

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CONTACT US

Our address:

92 Burleys Way Leicester LE1 3BD

www.givingworld.org.uk

Phone us: 0116 251 6205

Email us:

info@givingworld.org.uk

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With grateful thanks for their voluntary services to: Design: Hilary Barnes, www.hilarybarnes.co.uk Photography: Peter Freeth, genius.photo Copy: Sarah Scott, sascott78@yahoo.co.uk