Resource Helpin9 the rtsmmunity into employm8nt EMPLOYMENT RESOURCECENTRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEEV REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 Company No: 05211299 (England and Wales) Charity No: 1106331 020 8346 40001 HEILO@RESOIIRCE-CENTRE.ORG I RESOURCE-CENTrLORG 894 High Road, London, N12 NRH RÈqislw8d im Entyid Numbpr 52ll Charity Re9istrion Number m833I. fund by yoTrIary tontrfbjli8rI wported byJllwigh BIk tlwbl
EMPLOYMENT RESOURCE CENTRE CONTENTS Page Legal and Administrative information Trustees, and Directors, Report 3-13 Independent Examinerfs Report 14-15 Statement of Financial Activities{including Income and Expenditure Account) 16 Balance Sheet 17-18 Notes to the Financial Statements 19-25
EMPLOYMENT RESOURCE CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Forthe year ended 31" December 2024 Constitution The Employment Resource Centre, trading as"Resource" is a company limited by guarantee registered in England & Wales and a registered charity governed by its Memorandum and Articles of Association. The charity number is1106331. The company number is 05211299. Directors and Trustees The board of the charitable company I'the charitll is its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. The Trustees are elected by the members of the charitable company attending the Annual General meeting and they all serve 3-year terms following which they may stand for re-election. The Trustees serving during the year and since the year end are as follows: Chair: Michael Beral Shirley Fenster Anne Fenton James Field Kate Fulton lappointed18101120241 Jeremy Kelly Simon Mitchell (resigned 28101120251 Peter Musgrave Simon Samuels (appointed 29101120251 Resource Advisory Council David Arnold MBE Julian Glicher FCA Patricia Ward Alan Sanders Senior Management Staff Victoria Sterman Chief Executive Officer
EMPLOYMENT RESOURCE CENTRE LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31" December 2024 Registered Office Reportin9 Accountants 894 High Road London N12 9RH Taylor Viney & Marlow Limited Chartered Accountants 46-54 High Street Ingatestone Essex CM4 9DW
EMPLOYMENT RESOURCE CENTRE TRUSTEES. REPORT For the year ended 31st December 2024 The Trustees present their report and the financial statemerlts of the charity for the year ended 31 December 2024. The Trustees have adopted the provisions of the Statemerit of Recommended Practice ISORP 2019)~Accounting and Reporting by Charities" IFRS 1021 in preparing the annual report and financial statements of the charity. Legal and administrative information set out on pages l & 2 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice-Accounting and Reporting by Charities. Object of the Society The Charitls object and its principal activity is= The relief of unemployment for the benefit of the public in such ways as may be thought fit including assistance to find employment. Working name "Resource". Organisational Structure The Charity is UK based with its office in London. The Charitsls governing body is the Board of Trustees, which comprises at least three and not more than fifteen individuals, all of whom must be members. The Trustees meet regularly to manage its affairs, to oversee the work of the Charity, to consider future projects and are involved in strategic decisions for the organisation. Investment powers Under the Memorandum and Articles of Association, the Charity has powers, which may be exercised only in promoting the Objects of the Society.
EMPLOYMENT RESOURCE CENTRE Public benefit The Charities Act 2011 requires all charities to meet the legal requirement that its aims are for the public benefit. The Charities Commission in its Charities and Public Benefit guidance states that there are two key principles to be met in order to show that an organisation's aims are for the public benefit: firstly, there must be an identifiable benefit or benefits and secondly, that the benefit must be to the public or a section of the public. By helping to provide skills and encouragement leading to employment, the Trustees consider that they have complied with section 17 of the Charities Act 2011 and the guidance issued by the Charity Commissioners in respect of Public Benefit. Objectives and Activities Resource is a charity that helps unemployed people, predominantly from the Jewish community, into employment. Our primary objective is to support unemployed people with all aspects of their job search, including practical and emotional elements, to enable them to get back into work as quickly as possible. Rooted in Jewish culture, Resource offers expert guidance and support to people of all backgrounds. Vision Resource's vision is that all Jewish people will be able to support themselves financially, 2nd where help is needed to get into employment, Resource is able to provide that support. Mlssion Resource exists to ensure that no Jewish person facing unemployment or wishing to return to work is unsupported, and that they are helped to acquire the necessary skills and confidence to gain employment, self-employment or voluntary work. Geographical reach Resource is located in North Finchley in the London Borough of Barnet, which is home to the UK'S largest Jewish community, and we are well-placed to support the Jewish community in London and across the South East of England. We are also able to offer our services remotelyand people access our support online from all of the United Kingdom.
EMPLOYMENT RESOURCE CENTRE Methodology Resource's methodology is that of pairing each service user with a professional Advisor to build a one-to- one relationship of trust. Through these relationships, Advisors encourage clientslservice users)to engage in Resource's programme of training and support. Advisors provide practical advice and guidance, working with each client to plan their approach to their job search, develop their marketing tools including a CV, a Linkedln profile and covering letters, and practice their interview skills. Advisors will also provide emotional support and encouragement to job seekers, recognising the struggles of being unemployed and the importance of boosting clients. self-confidence and selt-belief. Highlights of the Year Responding to the ever-increasing demand for ourservices, Resource moved to a new, larger and more modern home in North Finchley in February2024. The new offices have. better accessibility, large street-level shop windows to advertise our work, four dedicated rooms for one-to-one meetings, a large seminar room and plenty of room for break-out and networking meetings. The offices boast a large neon sign in the coffee area proclaiming,"You've Got This" capturing the positive energy described by clients, staff and volunteers when working in the new premises. We launched a new service for school leavers and new graduates in 2024. In partnership with UJS, we hold mock assessment centres to help clients understand what it feels like to take part in a recruitment assessment centre, and to understand the key skills and behaviours that are typically assessed. Their contribution is assessed during the workshop and each participant receives individual feedback after the event. In 2024 we supported almost 1,000 people, through attendance at our tailoredjob search programme or through one or more of our ad-hoc events or workshops. Each client has access to one-to-one support from a dedicated Advisor, the option to attend a range of relevant interactive workshops, seminars or webinars, one to one IT training, mock interviews, psychometric profiling, and the use of a facilities such as computers and printers or a quiet meeting room. In addition to the practical support each client receives, we provide robust emotional support to help boost and motivate people going through job search. The vast majority of the clients we supported during 2024 described their self-confidence in theirjob search as having improved as a result of their time spent with Resource. Our success rate is consistently high, and we are proud that we have helped so many people from all professional backgrounds(and nonelto secure employment this year. Our network of past Resource clients, the Resource Community, continues to go from strength to strength. The Community has a dual purposo: to progress alumni in their careers, giving them
EMPLOYMENT RESOURCE CENTRE access to trainin(J and networking events, as well as keeping in regular contact with Resource. At the same time, we ask Resource Community members to help our current clients with networking introductions, to provide information and to identify employment opportunities within their field. The Community currently has more than 1,100 members, and we actively keep in touch with them through newsletters and events. Developments, Activities and Achievements during the Year Tailored Job Search Programmes During the year under review Resource was able to provide support to 655 clients on the tailored, in depth, job search programme to help find and secure employment, which was an increase on the number that we supported the previous year. There are no charges to our clients for any of the services provided Iclients are asked to lodge a small deposit that is offered backto them on completion of theirtime at Resource). Our services comprise.. Advisors Each client is assigned a dedicated professional Advisor to help clients focus on their job search strategy. All of Resource's Advisors have achieved success in one or more industries and businesses. The requirements of each of our clients are different, and it is through the efforts and sensitivity of our Advisors that clients receive a consistently high standard of service, tailored to the specific job and support needs of each and every individual. We currently have 17 Advisors in our team, and plan to recruit an additional three in 2025. Regular continuous professional development sessions are held for Advisors to help them keep up to date with current recruitment practices. Our Professional Consultant observes several client meetings with each Advisor to quality control the advice and support given and ensure a consistent high level of service is offered to clients. Workshops and Seminars Resource offers12 cutting-edge workshops and seminars covering all aspects of job search and career development. Most of the sessions are full days, and they include Practice Your Interview Skills, Introduction to Linkedln, and Advanced Linkedln. Our full day flagship seminar, Job Search and CV Workshop, provides the starting point for clients'job search.
EMPLOYMENT RESOURCE CENTRE Recognising the growing importance of Al in all aspects of recruitment, we introduced a new workshop for clients to learn how to use ChatGPT. During the workshop clients are shown how to use ChatGPT to improve their CV, coverin9 letters and Linkedln profile. The workshops are delivered face to face, and the full list of workshop titles is as follows: q Job Search Skills CV Writing Interview Skills How to Use Al in YourJob Search Make a Successful Impact in Your New Role Networking & Social Media Networking Skills Introduction to Linkedln Linkedln - Beyond the Profile Using Facebook, Instagram & TikTok to Land a Job (• Career Development Career Reflections & Reset Yes You Can (Confidence & Motivation Workshop} Graduate Assessment Centre Mock Interviews The importance of conducting mock interviews has grown in recent years, and as a result we have increased our team to five dedicated mock interviewers. Mock interviews are encouraged for all clients before attending a real interview and are conducted in as lifelike conditions as possible and are often arranged at short notice once the candidate has an interview appointment. The opportunity to practice the interview and receive constructive feedback is an invaluable part of the interview preparation and provides a significant conf idence boost to job seekers. ITTraining Our experienced and knowledgeable IT trainers provide one-to-one tuition and guidance on Microsoft Office packages and the Internet to enable clients to upgrade their skills, or improve their confidence in using IT, for today's workplace. Each session is tailored to the individual, and may cover basic, intermediate or advanced levels.
EMPLOYMENT RESOURCE CENTRE Psychometric Profiling Psychometric profiling can help clients to uncover the values and interests that are important to their overall career satisfaction, as well as gainin(J an opportunity to practice completing a psychometric profile or test. Clients are invited to undertake an online psychometric profiling exercise that is reviewed with a qualif led Psychometric Advisor. Workshops and Events In addition to our comprehensive programme forjob seekers, Resource designs and produces a number of one-off workshops each year for people who are unable to attend our Tailored Job Search programme. In 2024 ourworkshops and events included the following: Age-Less Job Search Workshop with Baroness Altmann CBE The Age-Less Job Search workshop, in partnership with JW3, was packed with tips and advice on how to navigate today's job market with a focus on conquering age barriers in the job search. The workshop was opened by Baroness Ros Altmann, who gave an enlightening keynote speech on the importance and the value of the older worker, and this was followed by a series of sessions led by career experts advising on CVS, interview skills, legislation around olderworkers, dressing for interview success, networking and using social media in yourjob search. Resource CV & Tea sessions at the Head Room Caté We hosted two full day CV & Teas sessions this year at JAMI'S Head Room Café, to help people prepare their CVS. Around 20 clients attended each session, supported by four Resource volunteer Advisors, and in addition to CV advice, participants had the opportunity to speak to a member of the Resource team about how to get help with theirjob search. Resource Community event: Refresh. renew. revise Members of our Resource Community, our alumni, attended an uplifting workshop to help them keep their CV, Linkedln profile and networks refreshed. The speakers reinforced the importance of keeping your skills up to date even when you are in a job, and there was much very positive networking taking place amongst the group.
EMPLOYMENT RESOURCE CENTRE Office Inauguration with Chief Rabbi Sir Ephraim Mirvis On 26th November Resource hosted a special office inauguration, welcoming an esteemed group of guests to celebrate this milestone occasion and learn more about Resource.Chief Rabbi Sir Ephraim Mirvis honoured the event with his presence, affixing the Mezuzah at the charitys main entrance, blessing and sanctifying Resource's new premises. Guests were deeply moved as three tormer Resource clients shared their heartfelt stories. They recounted their journeys and the invaluable support provided by Resource's dedicated team of Advisors, highlighting the transformative impact of our work. In his speech The Chief Rabbi said that the address of our new office- 894 High Road- symbolises that it is a place for everyone. He explained that the sum of eight, nine and four- 21 was the gematria of Hebrew letters kaf and aleph, the abbreviation for 'kol echad, which translates as 'everyone'. This is significant, as Resource is for everyone in the Jewish communityi whatever their age or background. Guest speaker Andrew Bloch, renowned PR guru to Sir Alan Sugar, captivated the guests with behind-the-scenes stories about candidates from The Apprentice. Fundraising Events Each year we hold at least three fundraising events to raise funds for Resource. These events are always well supported and in addition to fundraising they serve as a great opportunity to raise awareness of our work. The fundraising events held in 2024 included: Supper Qui2- Our popularfundraiser was again a sell-out this year, with over 200 guests at Finchley Reform Synagogue. Open Air Theatre Regents Park- A hundred supporters of Resource had a lovely night out watching Fiddler on the Roof. Annual Bridge Day Fundraiser with Andrew Robson OBE - Over 120 enthusiastic participants joined this masterclass with the well-known bridge teacher and writer Andrew Robson, raising over £6,000. The event provided not only a platform for attendees to develop their Bridge skills, but also an opportunity for guests to mingle over lunch, and an opportunity to raiseawareness about Resource's vital community initiativos aimed at helping people back into work.
EMPLOYMENT RESOURCE CENTRE 2024 in numbers: Activity No. of individual clients attending Resource's full programme No. of people attending special events No. of one.one appointments with Advisors TOL 655 325 2152 No. of full programme clients securing employment 232 Volunteers Resource could not operate without the dedicated support and tireless energy and enthusiasm of its more than 65 professional volunteers. All volunteers receive comprehensive induction and regular training, and a number of social events are held during the year to recognise and thank the volunteers for their invaluable contribution. We marked national Volunteers, Week 2024 in style by treating our volunteers to a delicious afternoon tea at the Head Room Café in Golders Green. Following the tea our volunteers had the opportunity tojoin JAMI'S volunteers on a guided walk of the area. Professlonal Staff The Trustees are indebted to the professionalism and the expertise of our professional staff and to all of them we express our sincere thanks. Trustees The Trustees have met regularly throughout the year to receive the CEO'S report and give strategic advice and guidance. The Trustees assess the skill sets required by the Charity based on an annual skills assessment of the Board. In line with good practice the charity continues to seek and appoint Trustees with appropriate skills for strong governance. We were delighted to welcome one new Trustee in 2024, Simon Samuels, who brings a wealth of experience in both the business and charitysectors. New Trustees undergo an orientation day to brief them on their obligations under charity and company law, the content of the Articles of Association, the committee structure and decision-making process, the operational strategy, current issues and recent financial performance of the charity. During the induction 10
EMPLOYMENT RESOURCE CENTRE day they meet key volunteers, employees and other Trustees. Trustees are encouraged to attend board workshops and appropriate external training events where these will facilitate the undertaking of their role. Resource Advisory Council The Resource Advisory Council meet periodically to support the CEO and Chair of Trustees and to provide guidance and support to the Trustees. We are grateful to the Advisory Council, which currently comprises recently retired Trustees, for their continuing enthusiasm for Resource and its community support. Partnerships Resource is proud of our ongoing partnerships with a variety of communal organisations, including JAMI, Migdal Emunah, Project Lily, JW3, UJS and Work Avenue. By working in close collaboration with our partners we can ensure we provide the most relevant, targeted and appropriate support for members of our communitywho are in need. Fundraising Resource is grateful to receive grants from a number of individuals and charitable trusts that fund ourwork. We are extremely appreciative of the continued support provided to us by Jewish Blind and Disabled. Reserves Policy In line with the recommendations of the Charity Commission, the Trustees have formally adopted a reserves policy. This recognises that the income of the Company does not arise evenly year on year and so to enable the Company to plan its activities the Trustees have decided it would be prudent to hold reserves equal to six- nine months running costs. Based on the 2024 accounts, annual income totalled £430,112 {2023.. £286,402) and annual expenditure totalled £380,07912023= £401,680). This resulted in a surplus tor the year of £50,03312023: deficit of £115,278) with overall surplus reserves at 31 December 2024 ot £222,636 {2023: £172,603). Risk Management The Trustees have carried out a detailed review of the Charitls activities highlighting the risks the Charity is exposed to and the steps taken to mitigate those risks. As part of this process the Trustees have reviewed the financial procedures in order to ensure that they still meet the needs of the Charity. 11
EMPLOYMENT RESOURCE CENTRE The major risks to which the Company is exposed, as identified by the Trustees, are and will continue to be regularly reviewed, and systems have been and will be established, and where appropriate, professional Advisors have been orwill be appointed to mitigate those risks. Parameters of the Charit$ work Resource is funded primarily by individuals and trusts in the Jewish community and its main focus is to serve the needs of the community. Resource appreciates funding from beyond the community and where possible will help anyone, regardless of religion. The Trustees would like to record their thanks to each of the donors, volunteers and management team, without whom none of the workwould be possible. Trustees, responsibilities in relation to the f inancial statements The Trustees Iwho are also directors of Employment Resource Centre for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then applythem consistently, observe the methods and principles in the Charities SORP 2019- FRS102, make judgements and estimates that are reasonable and prudent, state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that 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 12
EMPLOYMENT RESOURCE CENTRE assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware- there is no relevant information of which the charitable companls independent examiner is unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information. Approval This Report was approved bythe Trustees on 21, May 2025 and signed on its behalf by: Michael Beral- Trustee Peter Musgrave - Trustee 13
EMPLOYMENT RESOURCE CENTRE INDEPENDENT EXAMINER'S REPORT ON THE UNAUDITED ACCOUNTS TO THETRUSTEES OFTHE EMPLOYMENT RESOURCE CENTRE I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2024 which are set out on pages 16 to 25. Responsibilities and basis of report As the charity Trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the companyare not required to be audited under Part16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515Xbl of the 2011 Act. Independent examiner's statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, 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 that in any material respect: accounting records were not kept in respect of the company 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 UKand Republic of Ireland{FRS1021, 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. 14
EMPLOYMENT RESOURCE CENTRE Signed: David J. Stevens Instltute of Chartered Accountants In England and Wales Taylor. Viney & Marlow Limited Chartered Accountants 46-54 High Street Ingatestone Essex CM4 9DW Date: 10" June 2025 15
EMPLOYMENT RESOURCE CENTRE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2024 Notes Designated Unrestricted 2024 2024 2023 Total Designated Unrestricted 2025 Total Incoming resources Donations 409,951 409,951 266,489 266,489 Fund raising events 14,292 14,292 16,187 16,187 Bank interest received 5,869 5,869 3.726 3.726 Total incoming resources 430,112 430,112 286,402 286,402 Resources expended Charitable expenditure Fund raisino activities 6,805 6,805 8,109 8,109 Professional services 45,998 45,998 38,137 38,137 Management & Administration 327,276 327,276 355,434 355,434 Total resources expended 380,079 380,079 401,680 401,680 Funds brought forward 172,603 172,603 287,881 287,881 Net movement in funds 50,033 50,033 {115,278) 1115,2781 Transfer between funds Total funds carried forward9 222,636 222,636 172,603 172,603 The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. 16
EMPLOYMENT RESOURCE CENTRE BALANCESHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed Assets Tangible assets 44,991 8,157 Current Assets Debtors Cash and bank 26,854 175,745 14,217 184,577 202,599 198,594 Creditors Amounts falling due within one year 124,9541 134,148) Net current assets 177,645 164,446 Net assets 222,636 172,603 Charity Funds Unrestricted tunds 222,636 172,603 Members funds 222,636 172,603 17
EMPLOYMENT RESOURCE CENTRE BALANCE SHEET ICONTINUED) AS AT 31 DECEMBER 2024 In preparing these financial statements al The Trustees are of the opinion that the company is entitled to the exemption from audit conferred by Section 477 of the Companies Act 2006 b) No notice has been deposited undersection 476 of the Companies Act 2006 and cl The Trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with Sections 394 and 395 and which otherwise comply with the requirements of this Act relating to accounts, so far as applicable to the company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These f inancial statements were approved by the Trustees on 21$1 May 2025. Michael Beral- Chair Peter Musgrave - Trustee Company Registration No. 05211299 18
EMPLOYMENT RESOURCE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED31 DECEMBER 2024 Accounting Policies General information and basis of preparation The charity constitutes a public benefit entity as defined by FRS 102. 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 IFRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Acoepted Accounting Practice. The charity has applied Update Bulletin l as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS102 Section lA. The financial statements have been prepared to give a'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a'true and fair view,. This departure has involved following the Accounting and Reporting by Charities: Statenient of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 19
EMPLOYMENT RESOURCE CENTRE 1.2 Income al Income is recognised in the year to which it relates. Income is deferred only when the Trust has to fulfil conditions before becoming entitled to it or when the donor has specified that the income is to be expended in a future period. b) Voluntary income is received by way of donations and gifts and is included in the Statement of Financial Activities when receivable. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. Fundraisin9 Costs Fundraising expenditure comprises costs incurred in the staging of general fundraising events. 1.3 Costs of managing and administering the charity Administration expenditure includes all expenditure not directly related to the charitable activity of fundraising ventures. 1.4 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful lif e, as follows- Fixtures, fittings and equipment Leasehold improvements 3- 5 years straight line over the term of the lease 1.5 Funds accounting Funds held bythe Trust are: Unrestricted general funds these are funds that can be used in accordance with the charitable objects at the discretion of the Trustees. Designated funds - the Trustees may at their discretion, set aside unrestricted funds for specif ic purposes. Referto note 9. 20
EMPLOYMENT RESOURCE CENTRE Deficit / Surplus for the year 2024 2023 Def icit I Surplus for the year is stated after charging: Depreciation of tangible assets 18,587 2,474 Donations, legacies and similar incoming resources Donationsfrom individuals and trusts 409,951 266,489 21
EMPLOYMENT RESOURCE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Management and Administration 2024 2023 Wages Staff pension Staff training Rates and service charge Operating lease payments Cleaning Light & heat Repairs and maintenance Insurance Computer running costs 183,688 3,475 817 2,674 45,994 3,692 1,306 1,820 1,389 14,033 991 201,178 3,498 333 10,320 45,742 4,172 124 2,478 2,090 12,283 913 E i! General off ice & photocopier expenses Travelling & parking expenses Postage, courier and delivery charges Accountancy Bank charges Printing & stationery Advertising Telephone & Internet Entertaining Sundry expenses Depreciation and Amortisation 1,170 407 5,233 534 1,384 34,379 3,694 1,751 258 18,587 260 88 5,277 974 776 56,371 3,605 1,378 1,100 2,474 327,276 355,434 Independent examiners remuneration The independent examinerfs remuneration amounts to an independent examination fee of £4,220 12023- £4,020). 22
EMPLOYMENT RESOURCE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 Tangible Assets Leasehold Improvements Fixtures fittings & equipment Total Cost At l January 2024 Additions Disposals 48,334 41,892 55,421 125,2261 90,226 55,421 173,5601 148,3341 As at 31 December 2024 72,087 72,087 Depreciation At l January 2024 Charge forthe year Eliminated on disposal 48,334 33,735 18,587 (25,2261 82,069 18,587 173,5601 148,334} As at 31 December 2024 27,096 27,096 Net book value As at 31 December 2024 44,991 44,991 As at 31 December 2023 8,157 8,157 All assets are used forthe charitable purposes of the Trust. Debtors 2024 2023 Prepayments and accrued income Other debtors 14,479 12,375 14,217 26,854 14,217 23
EMPLOYMENT RESOURCE CENTRE NOTES TOTHE FINANCIALSTATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Creditors: amounts falling due within one year 2024 2023 Trade creditors Tax and social security Accruals Other creditors 1,874 3,966 15,482 3,632 16,048 7,534 4,020 6,546 24,954 34,148 Funds Unrestricted Fund Total Funds Brought forward at l January 2024 Surplus forthe year Transfer between funds 172,603 50,033 172,603 47,341 Total funds at 31 December 2024 222,636 219,944 10. Liability of Members The liabilities of members are limited. The Company is limited by guarantee without any share capital. Every member is liable to pay, if the Company is dissolved while he or she remains a member or within 12 months afterwards, up to the sum of £10 towards the costs of dissolution and liabilities incurred by the Company while he or she was a member. 24
EMPLOYMENT RESOURCE CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 Employees The average number of employees during the year was as follows:_ 2024 2023 Administration No Trustees received any remuneration or other benefits during the year. There is one employee who received total employee benef its of more than £60,000. The total remuneration of key management personnel during the year was £60,816 {2023: £57,646). 12. Financial Commitments As at 31 December 2024 the Company was committed to making the following payments under non- cancellable operatin9 leases in the year to 31 December 2024: Land and buildings Operating leases which expire 2024 2023 Within one year Due later one year 49,500 148,500 33,000 198,000 33,000 25