I Illd Essential Needs Report and Accounts Year Ended 31 March 2025 Company Number: 05312941 Charity Registration Number: 1108046
Essential Needs Report and Accounts Year Ended 31 March 2025 CONTENTS Page Contents Table Charity Information 2to3 Trustees, Annual Report 4t06 Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet io Notes to the Financial Statements Ilto19 Page l of 19
Essential Needs - Trustees Re ort for the ear ended 31 March 2025 CHARITY INFORMATION Company Name: Essential Needs Company Registration No: 05312941 Charity Number: 1108046 Legal Strurture and governing document of the Charity Essential Needs was constituted as a company limited by guarantee on 14 December 2004. It was registered as a charity on 11 February 2005. The Trustees are directors under Companies legislation and are also Trustees under Charities legislation and have responsibilities, as such, under both company law and charity law. The Trustees are all individuals. The provisions regulating the purpose and administration of the Charity are contained in the Memorandum and Articles of Association which las amended August 2008) are filed with the registrar of companies for England and Wales. The principal operating address. telephone number and email address of the Charity are: Address: Back Gladstone Street Harrogate HG2 8DF Telephone 01423 87(K)40 Email manager.essentialneeds@gmail.com Details of the Independent Examiner Mike Briggs Lithgow Perkins LLP Crown Chambers Princes Street Harrogate HGI INJ Bankers Leeds Building Society Holbeck House 105 Albion street Leeds LSI SAS Co-operative Bank plc POBoxlOI l Balloon Street Manchester Page 2 of 19
Essential Needs - Trustees Re ort for the ear ended 31 March 2025 continued The Trustees in office on the date the report was approved were: Joy Allan Anthony Campbell Susan Donnelly John Ennis Lucy Hind Peter Rogers Adrian Holey Francis McAllister The Trustees who served as a director in the reporting period. and if applicable. their dates of appointment or resignation during the year. were: Name Appointed Resigned /Retired Joy Allan Anthony Campbell Susan Donnelly John Ennis Lucy Hind Christine Norton Peter Rogers Adrian Holev Francis McAllister Retired 2310912024 2310912024 Trustees are appointed to office by resolution of the members of the Charity in a general meeting. The trustees may appoint a new trustee but that person must retire at the next annual general meeting. No other person or external body is entitled to appoint new trustees. Recruitment of new trustees is by the existing trustees. One third of the Trustees lor the number nearest to one third) retire each year. Susan Donnelly, John Ennis and Lucy Hind will retire at the AGM. All the Trustees are members of the Charity. Page 3 of 19
Essential Needs - Trustees re ort for the ear ended 31 March 2025 continued TRUSTEES, ANNUAL REPORT A- OBJECTS AND AcfiviTIES OF THE CHARITY The Charity has the following objettives: To relieve either generally or individually persons resident in Harrogate and the surrounding area who are in conditions of need, hardship or distress by the provision of furniture and other household accessories calculated to reduce the need, hardship or distress of such persons. To protect and preSee the environment for the benefit of the public, including (without limitation), the re-use and recycling of goods and their component parts and materials as a means of waste reduttion. B- SUMMARY OF MAIN ACTIVITIES OF THE CHARITY IN RELATION TO ITS OBJEcrs The Charity offers its beneficiaries the chance to turn their house into a home, by the provision of as wide a choice of furniture and household goods as is possible. all items being available at low cost. The Charity is staffed by full and part-time employees, assisted by volunteers to collert. sort and deliver the household goods, and to help with office administration. C- THE MAIN AcfiviTIES UNDERTAKEN DURING THE YEAR TO FURTHER THE CHARttY'S PURPOSE FOR PUBLIC BENEFIT In accordance with S17151 of the Charities Act 2011. the Trustees refer to the guidance contained in the Charity Commission's general guidance on public benefit in planning future activities. In particular. the Trustees consider how planned attivities will contribute to the objectives of the Charity. D- THE CONTRIBUTION OF VOLUNTEERS DURING THE YEAR The Charity currently has a governing board of 8 Trustees, 2 of whom also volunteer to assist with operational aspects. A total of 20 volunteers have assisted with the running of the Charity on a regular basis, both in administration and collection/delivery work. The office work involved the organisation of collections and deliveries. the registration of new clients, stock control and the sale of furniture. Collection and delivery work involved the viewing and collection of household goods, predominantly furniture and white goods, collection of those goods from donors, and delivering items to clients. In addition, volunteers help with the PAT testing of electrical goods. They contributed nearly 3,000 hours of unpaid work. E- THE MAIN ACHIEVEMENTS AND PERFORMANCE OF THE CHARITY DURING THE YEAR The Charity supported 683 registered customers during the year. not only with the regular in store low prices, but by saving them an extra £37,038 due to the 35% discount for which they qualify. Over £14,000 worth of goods was donated free of charge to seriously deprived persons, e.g. homeless, refugees, etc, by way either of matching funding from a partner organisation or a direct donation. Afurther £13.rJ)O was donated by way of free deliveries. It should therefore be noted that had all items of furniture been sold at either full price or at the general 350A discount, and had there been no free deliveries, the total turnover, inclusive of Gift Aid, would have been over £250,000 Page 4 of 19
Essential Needs - Trustees re ort for the ear ended 31 March 2025 continued Almost 10,500 household items and over 800 electrical items were sold in the period, as a result of which approximately 149 tonnes of furniture items were diverted from landfill or incineration. plus 12.5 tonnes of electrical goods. The Charity supports other charities within it5 operating area which provide specific parts of the community with particular housing needs. We do this by prioritising the supply of items to them on preferential terms and at times operate a 'matched funding, programme so that those most in need receive extra value. Some of these organisations also put forward persons who qualify for the extra 50% discount reserved for those in the most extenuating circumstances. F- THE DIFFERENCE THE CHARITY'S PERFORMANCE HAS MADE TO ITS BENEFICIARIES AND TO WIDER SOCIETY The Charity benefits the public in the following ways. Clients who receive low-cost goods from the Charity are helped to improve their lives, independence. their health and wellbeing. These benefits result in a reduction in their needs being met from public resources. Donors of goods to the Charity are contributing to reducing what would otherwise become waste and helping the public authorities to meet recycling targets. Reuse of items conserves energy. reduces air and water pollution, reduces greenhouse gases, and conserves natural resources. It also reduces the need for extratting. refining and processing raw materials. The Charity could not operate without the volunteers, who all make their personal contributions which are valued by the local community and wider society. G - FINANCIAL REVIEW Financial Position on 31 March 2025 The financial position of the Charity on 31 March 2025 and the comparatives for the prior year were as follows.. 2025 2024 Unrestricted Revenue funds available for General purposes of the Charity, excluding Designated Funds 109,819 85,911 Liquid reserves {excluding fixed assets acquired for the delivery of the Charity's aims) 108,114 83,604 Financial Performance for the year to 31 March 2025 The sales performance of the Charity shows a slight down turn on the increases of recent years. However, as stated above, had the Charity been paid in full for the items and deliveries donated free of charge or sold with the extra discount, the turnover would be showing as very healthy. Total income including donations, grants and £22,460 of Gift Aid was £235.309, with total expenditure of £235.104 leaving a small surplus of £205. As £49,000 was designated at 31" March 2024 for particular projects. this was to be expected. Page 5 of 19
Essential Needs - Trustees re ort for the ear ended 31 March 2025 continued The Charity's budget for the yearto 31" March 2026 indicates that a small deficit can be expected as we continue to pursue our policy of making donations free of charge to those persons most in need of our support. Having accumulated substantial reserves in recent years and with the Charity not being significantly exposed to debtors or dependent on grant income, the Trustees consider that the ongoing trading position is secure. Therefore, the Trustees consider that the Charity's assets are adequate to fulfil its obligations and its ability to continue to operate as a going concern. Specific changes in fixed assets are detailed in the Notes to the Accounts. H- RESERVES POLICY Following the Charity Commission guidance on risk, and as part of its management strategy, the Charity sets aside some of its income toform a reserve against anyfutureshortfall in funds. Income from salesto fund ongoingtrading cannot be guaranteed. and funding for major capital expenditure might need funding from reserves if grant funding cannot be secured. In the past the Trustees have considered that a minimum reserve of 50% of annual budgeted expenditure would be adequate to enable the Charity to review its operation should revenue fall significantly. This would give time to review the method of operation and/or seek alternative sources of funding, as well as to meet obligations under the lease of the premises. The Trustees also considered that the maximum figure to hold in reserves should be 100% of annual budgeted expenditure, a5 this would be adequate to cover deficits over an extended period. Furthermore, plans for future period5 will potentially entail incurring higher expenditure in advance of higher income. with a consequential deficit in the short to medium term. Budgeted expenditure for 2025/26 is £235,931 and on 31" March 2025 Total Unrestricted Funds excluding Fixed Assets were £128,465, including £20.351 designated for particular projects as detailed in note 11. Having considered this position, the trustees feel that holding between 50% and 100% of annual outgoings remains appropriate for the year 202512026. I - PLANS FOR THE FUTURE The Charity is aware that there is always room for improvement and expansion of our services. and will continue to review its operating policies, opening hours and delivery days. We shall also pursue further links with other organisations in the sector in which we operate. Of the £49.000 designated at 31" March 2024 forspecial projects, £20,351 remains unspent and this will be directed to four ongoing projetts: free beds for children who do not have one of their own, an extra 50Yo discount on sales to those persons in greatest need who are referred by partner agencies, increased administrative salary costs and the balance of the marketing fund designated in the current year. The Charity is grateful for all donations and will continue to apply for funding to replace equipment when required and to support special projects. Page 6 of 19
Essential Needs - Trustees re ort for the ear ended 31 March 2025 continued STATEMENT OF TRUSTEES, RESPONSIBILrrES The Trustees are responsible for preparing the Trustees. Annual Report and the Financial Statements in accordance with the terms of the Companies Act 2(X)6. the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. The Trustees interpret this responsibility as requiring them to prepare the accounts according to the Charities SORP IFRS 1021. In particular, the Companies Act 2006 and charity law require the Trustees to prepare financial statements for each financial year and of the surplus or deficit of the Charity- In preparing those financial statements, the Trustees are required to- Prepare the accounts in accordance with UK Generally A(pted Accounting Prattice Make judgement and estimates that are reasonable and prudent Prepare the financial statements on the going concern basis unless it is appropriate to assume that the Charity will not remain in business State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which are sufficient to show and explain the Charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. METHOD OF PREPARATION OF THE ACCOUNTS The financial statements are set out on pages 9 to 19. The financial statements have been prepared in accordance with the Statement of Recommended Prartice.. Accounting and Reporting by Charities Icharities SORP {FRS 102) leffective l January 201911 and with the Charities Act 2011, and in accordance with the special provisions of the Companies Act 2006 relating to small companies. This report was approved by the Trustees on ...... . 2025 J. R. Allan Joy Allan Trustee Page 7 of 19
INDEPENDENT EXAMINER'S REPORT to the Trustees of Essential Needs I report to the Charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025, which are set out on pages 9 to 19. This report is made solely to the charitable companrfs trustees. as a body, in accordance with Chapter 3 of Part 16 of the Companies Att 2006 and the charitable companws trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examinerfs work has been undertaken so that I might State to the charitable compan¢s trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company. the charitable compan¢s members as a body and the charitable company's trustees as a body for my independent examiner's work. for this report, or for the opinions I have formed. Responsibilities and basis of report As the Charitvs 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 2006 I'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Att and are eligible for independent examination, I report in respect of my examination of your charity's accounts a5 carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51 Ibl of the 2011 Att. Independent examinerf5 ststement I have completed my examination. I confirm that no matters have come to my attention in connettion with the examination giving me cause to believe- 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 2C(J6 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 IFRS 1021. 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. Mickagl Mike Briggs FCA Lithgow Perkins. Chartered Accountants Crown Chambers. Princes Street. Harrogate HGI INJ Page 8 of 19
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Essential Needs - BALANCE SHEET as at 31 March 2025 Company Number.. 05312941 2025 2025 2024 2024 Notes FIXED ASSETS Tangible Assets 1,705 2,307 CURRENT ASSETS Stock Debtors Cash at Bank/ln Hand 1,140 33.006 109,373 632 24,510 116,089 143.519 141.231 LIABILITIES Creditors falling due within One Year io {9.123} 17,642) NET CURRENT ASSETS 134.396 133,589 TOTAL NET ASSETS 12 136,101 135,896 Charity Funds Unrestricted Revenue Funds Unrestricted Designated Funds li li 109,819 20.351 85,911 49.000 Unrestricted Funds Restricted Funds li li 130,170 5,931 134,911 985 TOTAL CHARITY FUNDS 12 136,101 135,896 For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The Trustees {who are also the directors for the purposes of company law} acknowledge their responsibilities for complying with the requirements of the Act with respett 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 and with the FR5 102 leffettive January 20191. Approved on behalf of the Trustees by: . 2025 Joy Allan Trustee Page 10 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 I. ACCOUNTING POLICIES Basis of Accounting These financial statements have been prepared under the historical cost convention with the items recognised at cost or transartion unless otherwise stated in the relevant notes to the accounts. The accounts have been prepared in accordance with the Companies Act 2006 relating to small charitable companies, the Statement of Recommended Prattice.. Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 effective l January 2019, and with the Charities Act 2011. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years. The Charity constitutes a public benefit entity as defined by FRS 102. Going concern Given the position of the balance sheet and the level of liquid resources, the Trustees have identified no material uncertainties that may cast significant doubt over the ability of the Charity to continue as a going concern. Cash Flow Statement Exemption has been claimed from preparing a Cash Flow Statement on the grounds that the Charity qualifies as a small company. Donations Donations are included in the year in which they are receivable, which is when the Charity becomes entitled to the resource. Grants receivable Grants and donations are included in the SOFA when the Charity has unconditional entitlement to the resources. Gift Aid Gift Aid is claimed on items donated to Essential Needs. where the donor has completed a Gift Aid declaration. Gift Aid due is recognised in the month in which the donated item is sold. Investment income Income from investments is included in the SOFA in the year in which it is receivable. Expenditure All expenditure is accounted for gross. and when incurred. Direct charitable expenditure includes the direct costs of the attivities and depreciation on related assets. Where such costs relate to more than one functional cost category, they have been split on either an estimated time or floor space basis, as appropriate. Governance costs {see Note 61 include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and costs linked to the strategic management of the Charity. Page 11 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) I. ACCOUNTING POLICIES (continued) Taxation As a registered charity, Essential Needs is not liable to taxation on its investment income and gains. income and gains arising from trading in furtherance of its charitable objectives and charitable donations. Recovery of income tax is made on tax credits arising from receipts under deeds of covenant and gift aid payments. VAT deemed to be irrecoverable is written off in the Statement of Financial Activities in the period to which it relates. Recognition of liabilities Liabilities are recognised when an obligation arises to transfer economic benefits as a result of a past event. Tangible fixed assets Depreciation is provided to write off the cost or valuation, less estimated residual values, of all fixed assets over their expected useful lives. It is calculated at the following annual rates: Leasehold Premises Plant and Equipment Motor Vehicles -25% Reducing Balance -25% straight Line -25% Reducing Balance Items less than £250 are not capitalised and are written off in the year of purchase. Gifts in kind Assets and other gifts in kind given for use by the Charity are recognised as incoming resources at their estimated market value when receivable. Donated Goods The Trustees have carefully considered the practicality of, and the benefit due to the users of the accounts, from valuing the donated goods for resale at the year end. However. due to the large number of small items, and the considerable time it would take, as well as the difficulty in achieving a realistic valuation. it has been decided to continue to recognise donated goods at the point of sale. In addition, the Trustees have concluded that the small movement of the stock held between years would not add to the information presented to users of the accounts. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Stock Finished goods bought for resale to the clients are valued at the lower of cost and net realisable value. Operating lease agreements Rentals payable under operating leases are charged in the profit and loss account on a straight-line basis over the period of the lease or to an earlier date if the lease can be determined without financial penalty. Pension costs The Charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. Page 12 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) Accounting for separate fund5 Restricted funds are funds which are to be used in accordance with specific restrittions imposed by the donors. Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated Funds are funds set aside by the Trustees for specific purposes. 2. DONATIONS AND GRANTS 2025 Unrestricted 2025 Restricted 2025 Total 2024 Total Grants Donations 5,000 411 8.753 13,753 411 2,233 404 Total 5.411 8,753 14.164 2.637 3. NET OUTGOING RESOURCES FOR THE YEAR This is Stated after charging: 2025 2024 Independent Examination Fee Depreciation 750 602 750 947 4. TRUSTEES, REMUNERATION No trustee was remunerated in the year (2024- £nill. No expenses were reimbursed to Trustees {2024- £nill 5. STAFF COSTS The staff costs shown in Note 6 relate to eight employees {2024: 81. No employee earned more than £60,00012024: The average number of employees for the year ended 31 March 2025 was 812023.. 81, being an average of 4 full time equivalent {2024: 41. The amounts paid to employees were: 2025 2024 Gross Pav social Security Costs Pension Payments 141,551 5,061 3,505 119,600 3,453 2.912 Page 13 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) 6. TOTAL EXPENDITURE Furniture Store Governance 2025 2025 Total 2025 Total 2024 Cost of Beds Sold Salaries & National Insurance Pension Contributions Volunteer & Staff Expenses Uniform Training Rent & Rates Insurance Electricity, Gas & Water Maintenance & cleaning Appliance Testing & Workshop Van Repairs Van Fuel Hire of Second Van Telephone & Broadband Card Machine Computer Postage Stationery Bank & Card charges Marketing and PR Membership & Conference Sundry Equipment <£250 Depreciation Support costs 27,498 146,612 3.505 548 142 428 20.254 4,236 4.388 1,003 962 5,088 2.512 2,425 1,085 3,537 1,761 35 734 25 4,527 360 1.088 224 602 530 27,498 146,612 3.505 25,542 123,053 2,912 142 428 20.254 4,236 4,388 1,003 962 5,088 2.512 2,425 1,085 3,537 1,761 35 734 25 4,527 360 1.088 224 602 1.525 751 273 19,229 4,006 2,674 1,158 909 4,462 2,231 814 3,329 1,725 30 487 24 271 iio 901 208 947 1,678 995 Total Expenditure 234,109 995 235,104 198,108 7. SUPPORT COSTS 2025 2024 Store Store Independent Examination Other Professional Fees Recruitment & Payroll Bureau 750 245 530 750 400 528 1.525 1.678 Page 14 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) 8. TANGIBLE ASSETS Leasehold Improvements Plant & Equipment Van Total Cost At l April 2024 Additions 10,413 16,372 22,414 49,199 At 31 March 2025 10.413 16,372 22,414 49,199 Depreciation At l April 2024 Charge for the Year 10,166 62 16,101 93 20,625 447 46,892 602 At 31 March 2025 10,228 16,194 21,072 47,494 Net Book Value As at 31 March 2025 As at 31 March 2024 185 247 178 271 1,342 1,789 1,705 2,307 9. DEBTORS 2025 2024 Trade Debtor5 Prepayment & Accrued Income Other Debtors 261 31.492 1.253 583 23,927 Total 33.006 24.510 10. CREDITORS (amounts falling due within one year) 2025 2024 Trade Creditors Accrual & Other Creditors Other Taxation & Social Security 4.218 2.755 2,150 1,088 3,887 2,667 9.123 7.642 Page 15 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) 11. MOVEMENTS IN CHARITY FUNDS UNRESTRICTED FUNDS 2025 Unrestricted Funds B/f l April 2024 Income Received Balance Clf 31 March 2025 Expenditure Transfers In / (Out) Designated Funds Free Beds for Children Additional 50% Discount Van Hire Additional Salaries Marketing (1,586) 12,414} 154 11,994} 3,000 6,654 6.500 4.420 26,080 (2,426) 116,133) (4,250) 9,947 750 Total Designated Funds Unrestricted General Fund 49,000 85,911 (24,395) (207,323) (4,254) (4,675) 20,351 109,819 2Z6,556 Totsl Unrestricted Funds 134,911 226.556 1231,718) 421 130,170 2024 Unrestricted Funds Blf l April 2023 Income Received Balance Clf 31 March 2024 Expenditure Transfers In / (Out) Designated Funds Free Beds for Children Additional 500A Discount Van Hire Additional Salaries Marketing 7,CKIO 6.500 4.420 26,080 5.000 6,500 4,420 26,080 Total Designated Funds Unrestrirted General Fund 49,000 147,937) 49,000 85,911 106.455 224.316 1196,923) Total Unrestricted Funds 106,455 224.316 (196,923) 1,063 134,911 Of the £49,000 designated at 31 March 2024 for special projects, £20,351 remains unspent and this will be directed to four projetts in the year 2025-26. Cost of free beds £3,000- Free beds will continue to be provided for children. referred to the Charity by schools. GP'S, Harrogate Homeless and other partner agencies. Page 16 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) Additional 50% discount and donations free of charge £6,654- Partner Organisations including those above. YMCA, New Beginners, churches and others can refer families in extreme poverty to the Charity to claim a further discount of 50Yo, and in some cases, items will be donated free of all charge. Additional Salary Costs £9,947-This will continue to fund increased administrative costs and as necessary the cost of an additional van driver. Marketing £750-the remainder of the £5,000 allocated in 2024-25. which will be spent in the year 2025-26. RESTRicfED FUNDS 2025 Restrirted Funds Blf l April 2024 Income Received Transfers In / (Out) Balance C/f 31 March 2025 Expenditure North Yorkshire CC Rotary Two Ridings- Bed Packs Schools Fundraising for Beds Shears Foundation 48 937 950 1398) {421} 516 1,515 549 5.739 11,515) 549 4,266 11.473) Total Restricted Fund 985 8.753 (3,386) (421) 5.931 2024 Restrirted Funds B/f l April 2023 Income Received Balance C/f 31 March 2024 Expenditure Transfers In / (Out) Charles & Elsie Sykes Trust North Yorkshire CC Rotary 1,000 11,000} 1.233 1.000 11.185) 163} 937 Total Restricted Fund 2.233 (1,185 (1,063) 985 Shears Foundation - a grant of £5.739 was made during the year 2024-25 to contribute to the utility costs of the Charity (Gas, Electricity. Water and Broadband). £1.473 of this fund was spent during the year 2024-25 and the remainder will be used in the year 2025-26. Schools Fundraising for free beds for children- During the year 2024-25, two local primary Schools 1st Roberts and Western) held fundraising events and together donated £549 to fund the provision of free beds for children, an ongoing initiative of the Charity. North Yorkshire CC - North Yorkshire County Council paid the following grants, the purpose of which were as follows.. Year 2024-25 £350 to fund new PAT and Microwave testers to improve in house appliance testin& which has been spent in the year. £600 to purchase of a new PC for the office, which will be used in 2025-26 Page 17 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) Year 2023-24 £750 to fund the purchase of uniforms for Staff and Volunteers. The balance of this fund at 31 March 2024, was spent in the year 2024-25. £483 to buy a new printer and to fund a marketing campaign. This was fully spent in the year 2023- 24. Rotsry- In 2023-24, Rotary donated £1,000 to help fund free items for Ukrainian families settling in the local area, either in their own homes or with host families. The Charity continues to match the funding from this grant. Charles & Elsie Sykes Trust- In 2022-23 a grant of £5,000 was given to help the Charity further support those in need. £4,000 of this grant was applied in the year 2022-23 and the remaining £l.000 in the year 2023-24. This fund was to provide items to those most in need, for no charge or at a higherthan usual discount. In line with the agreed conditions of the grant, the Charity bore 50% of the additional discount value of these items. 12. NET ASSETSUMMARY Balance at 31 March 2025 Unrestricted Funds Total Funds at 31 March 2025 General Designated Restrirted Fund Tangible Fixed Assets Current Assets Cash at Bank/ln Hand Current Liabilities 1,705 34,146 83.091 (9,123) 1,705 34,146 109,373 (9,123) 20,351 5.931 Total Net Assets 109.819 20,351 5,931 136,101 Balance at 31 March 2024 Unrestrirted Funds Total Funds at 31 March 2024 General Designated Restricted Fund Tangible Fixed Assets Current Assets Cash at Bank/ln Hand Current Liabilities 2.307 25,142 66,104 (7.642) 2,307 25,142 116,089 (7,642) 49,000 985 Total Net Assets 85,911 49,IKIO 985 135,896 Page 18 of 19
Essential Needs - NOTES to the Financial Statements for the Year ended 31 March 2025 (continued) 13. OPERATING LEASES The Charity entered into a new 5-year lease agreement on l Ottober 2022. This agreement has a built-in annual rent increase, from £15,C(JO to £20,000. commencing l October 2023. Buildings Insurance is also payable to the landlord under the terms of the lease. Buildings 2025 2024 Due within one year Due between two and five years 21,104 31,656 20.976 52,440 Total amount payable 52.760 73,416 14. PENSION COMMITMENTS The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension charge represents the contributions payable by the Charity to the fund and amounted to £3.505 {2024: £2.912). 15. CONTROL RELATIONSHIPS As the Charity is limited by guarantee without share capital. no individual has overall control of the Charity. 16. RELATED PARTY TRANSAcfioNS Trustee remuneration and benefits During the year, no Trustee received any remuneration or benefits12024- £nill. Trustee Expense5 During the year, no Trustee was paid any expenses {2024- £nil). Trustee Donations During the year, no Trustee made a donation (2024: £nill. There were no other related party transactions in the year ended 31 March 202412023: £Nill. Page 19 of 19