Charlty reglstration number 1110418 {England and Wales) Company registration number 04938680 FAIR SHARES GLOUCESTERSHIRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FAIR SHARES GLOUCESTERSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Cathles J Cigman P Gifford J Lewis M Smith R Palmer C Steele (Appointed 25 November 2024) (Appointed 19 May 2025) Charity number (England and Wales) 1110418 Company number 04938680 Prlnclpal address Chequers Bridge Centre Painswick Road Gloucester GL4 6PR Reglstered office Chequers Bridge Centre Painswick Road Gloucester GL4 6PR Independent examlner Griffiths Marshall 4th Floor Llanthony Warehouse The Docks Gloucester GL12EH Bankers Unity Trust Bank PIC Four Brindley Place Birmingham B12JB Co-operative Bank PIC P.0 Box 250 Skelmersdale WN8 61 The Charity Bank Limited Fosse House 182 High Street Tonbridge TN9 1BE
FAIR SHARES GLOUCESTERSHIRE CONTENTS Page Trustees. report Statement of trustees, responsibilities 10 Independent examinels report 11 Statement of financial activities 12 Balance sheet 13 Statement of cash flows 14 Notes to the financial ststements 15-26
FAIR SHARES GLOUCESTERSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and accounts of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies detailed in note 1 and comply with the charity's governing document, the Companies Act 2006, and Accounting and Reporting by Charities.. Statement of Recommended practi 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 2019). Objectives and activities Fair Shares is a Time Banking cha17ty and communty ooaniSatn based in Gloucestetshir&. Our objectlvgs, as outlined in our goveming document fron7 1998, a.. To lIeVe poverty, sickness, and distress. primanly but not exclu&vely for the benefrt of the Gloucestetshire community. To advance education and training within the community, particularly for disadvantsged and vulnerable individuals, including young people, older people, and the unemployed. What Is Tlme Banklng. Fime Banking is a system of two-way community partlGipation that values the time people give and receive, and the contribution they make to Othe in pTrctical or emotional ways. We support people to help each other share experiences, and make fnends. We enCouge everyone to woH( together to build supportwe, sustainable. and resilient communities. °Knowing Fair Shares is here, being able to comg her8 and knowing someone is the to ask forhelp when I need ti is a godsend.. °Time Banking is helping myself through helping others.. Our Vlslon We believe everyone has something to offer. By giving and reIving time, we build inclusive, SUPFQrtive communities where people feel connected, valued, and empowered to leam, share, and grow together. Our Misslon Fair Shares brings people together through the exchange of time, skills, and kindness. Our time banks value everyone's ability to contribute, connecting individuals to share knowledge, build friendships, support one another, and transform lives.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our Values Our approach follows the prinaples of Time Banking through a cProdUCtion framework. focusing on four core values.. People are Assets - We help people recognise that they are the strengths of their community. Redeflnlng Work- We redefine how people are valued by recognising their contributions to the community. Reclproclty- We encourage giving and receiving support. Soclal Capital- Together, we build strong, meaningful support nelworks across communities. °It m88ns community. If you can, spend timg, enjoy, engage and help people. It is many things and to me it is home.. Who We Are Established in 1998, Fair Shares was the first Time Bank in the UK. We collaborate with individuals, organisations, and partners to promote posits've, enduring relationships. Our committed, knowledgeable staff, partiapants, and Trustees have developed and nurtured the organisation over the past 25 years. 202412025 Hlghllghts Delivered 34,580 hours of Time Banking activities across GIOuster and Stroud. Engaged 1.694 people over the year. 307 core weekly participants- an increase of 6.90A from last year. Provided 1,012 sessions at our allotment. 100 % of those asked reported an increase in skills, 1000/0 made friends, and 100% felt an increased sense ot belonging. Welcomed 133 people to our Christmas party. Faalitated 102 8e8sions in Stroud, induding Gentle Walks, Memory Box sessions and Coffee momings. Core Actlvltles In 202412025 1.1 Tlme Banklng Exchanges: Participants contribute time to their community and ask for help when they need it. Activits'es exchanged include researching family trees, constructing a bird cage, shopping, basic car maintenance, decorating, gardening, and more all organised by our Time Brokers. 'Best thing about Fair Shares Is the sense of Gommunity- It's like a cushion you can fall back
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Lunch Club." A weekly social gathering with a hot lunch, open to everyone. It is held weekly at the Friendship Café, and occasionally at our allotment during the summer. Attendeès include a diverse range of local people, aged 3 months to 90 years including young people with moderate to severe disabilities from Gloucester College, older people facing isolation, asylum seekers staying in local hotels, and single parents. It's a Spa for community connection, welcoming people from all walks of lrfe. Attendance continues to grow this year we've been catering for around 40 people per week. Participants are involved in all aspects of lunch, from laying the table, bringing produce from the allotment, cooking and serving food. clearing away and washing up. °One of the Fair ShaTrs Lunch Club partlcipants, a disabled student frDm Glos Col previously ate 81on9. He has begun to eat during the lunch sessions, Maing 8 signrficant mi18Stone in his social engagement. This change highlights the importance of the Lunch Club as mor9 than just a mea1t1mrt s a space forbuilding social Gonfidence, CatIng lasting relationships, and engaging in the community beyond th8 classmom. The students have developed valuable communication skills 8nd gained independence in a supportive environment, enabling them to integrate more fully into their local community.. Art Group: Meeting weekly at the Friendship Café, this group engages in creative projects, offering a supportive and therapeLrtic environment for all. It has naturally evolved into a space where participants support each other through creative expression and is well attended by many experiencing mental health challenges. This year, the group has done a bit of everything from making key rings and embroidery to bunting for our community events. We've ended the year discussing ambitions for larger, more outward-facing projects, and have designed and developed a mosaic to decorate the new entryway of our allotment, based on a wldlife scene. Woodwork Group: Our fully equipped workshop offers community members the chance to leam woodworking skills. People attend to create items for personal use and community projects building confidence, developing and sharing skills, and contributing to the wider community. This year's projects included working with various youth groups through alternative education providers like Peak and Bridge Training, supporting young people to learn and apply new skills in the community. Highlights includ8 benches for Pary Park, a shed for APT and our Stroud community allotment, and many more. 'Through the woodWolg sessions, students at Haour House worked on building benches for a local community space. This project helped them establish a Gonnection with the neighbouthood, contributing tangible results that directly impacted th8 space. For many students, this was theirfirst experience working in a real-wortd commun pn)ject, and the relationships they buitt wtih staff and Gommunity Membe continue to have a lasting impact. The confidence gained from contributing to such a pmject has encouraged them to seek out similaropportunities in the future, making them feel more integrated into their local Gommunty.. Allotment Group: Our community Spa at the City Farm blends food growing with social interaclion, offering hand>on, educational, social, and therapeutic experiences. This year, we worked closely with local participants to make the space more aeSSIble - moving the entrance to the street side, creating a sloping pathway, improving the pipework. and installing accessible handwashing sinks. It's been a vibrant year, wth seasonal public events like pumpkin carving and Alice in Wonderland-themed Easter crafts, weekend cooking sessions wth young people, and a producttve growing season involving local schools, community groups, and the wider public. °Rachel h8s created such a positive and welGoming space at the allotment that I know l Gan attend, moet others, and be sociable.. Gentle Walks: Supported by partiapants, we organise a¢SSIble group walks, designed for people With physical or mental health needs and their carers. Suitable for walking aids and wheelchairs, these walks take place fortnightly in Stroud, monthly in Stonehouse, and quarterly in Nailsworth. Aimed at those with mobility issues, memory loss, or long-temi conditions, they offer social connection and practical advi for people feeling isolated or vulnerable. We also took part in the Stonehouse Walking Festival this year.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Chance to Chat and Memory Boxes: Our Chance to Chat Postcards and Memory Boxes help sustain relationships beeen carers and those they support - especially people living wlth dementia. Linked with the Gloucestershire NHS Dementia Team and local Memory Cafés, the boxes contain nostalgic items that spark conversation and connection. We strive to ensure th8 contents reflect the diversity of UK society. This year, they've been relaunched in Stroud's new library and are available in Stonehouse library and at the Museum in the Park. Greenlng Barton Street.. We work with the communty to maintsin planters and green spaces in the Barton and Tredworth ar8a. This informal group meets weekly during spring, summer, and autumn to encourage gardening, social interaction. and communty ownership of public spaces. °My Ile boy goes to look at the flowe every day on his way to nursery. He loves them.. Youth fime Banking: Our Youth Tirne Bank engages young people in Time Banking through individual and group ath'vities mainly in Gloucester, with outreach in Stroud. We work wth community groups and educational providers to support young people in becoming active participants in their communities. This year, we've worked dosely with three Gloucestershire Altemative Education providers whose students have attended weekjy across the academic year. We've also partnered with Gloscol, working with disabled students to facilitate local community activities. Group Trips: We organise monthly trips open to all Fair Shares participants. These outings help people explore new places, overcome transport or financial barriers, and enjoy shared experiences. This year, we've visited the Forest of Dean, Kempley (to see the daffodils), Cardiff ca$e, Birmingham Botanical Gardens, Tower of London, Bary Island, Weston-super-mare, St Fagans, Batsford Arboretum, and the Birmingham Christmas Market. Partnership Working in 2024-25 Using our deep knedge of the local community, our work in Gloucester and Stroud has been significantly enriched through partnerships with local charities, community organisations, statutory services, private businesses, and residents. These collaborations have enabled us to reath more people and create meaningful, lasting impact. Some of our key partnerships include: All Pulllng Together (APT).. Together with APT, we've supported isolated and older adults in Stonehouse through monthly Gentle Walks, library coffee momings, and group trips. We also brought young people from PeakAcademy to build a shed in their community allotment. 8arnwood Trust: As one of Bamwood Trust's recognised referral organisations, we supported 18 individuals this year in accessing grants. £27,139.10 in total, helping them improve quality of life and independence. Bulldlng Connections: In partnership with Active Impact, Young Gloucestershire, FVAF. Forest Pulse, and Creative Sustainability, we've taken a joined-up approach to creating opportunities for young people with disabilities to build stronger links within the local community. We've also worked with Gloucester College, Hart)our House, Peak Academy, Bridge Training, the Community Allotment, our Fair Shares Lunch Club, and through 1..1 Time Banking exchanges to create inclusive, skill-building opportunities. These ranged from woodworking and gardening to creative workshops, physical activities, and shared meals. Across hundreds of sessions with a wide mix of participants, this project promoted independence, confiden. and social connedion strengthening both individual growth and community ties. Dementla Actlon Alliance: We attend meetings in Gloucester and Stroud. The alliance's aim is to make the County a good place for people living with Dementia and those who support them. Frlendship Café.. We continue our strong collaboration wrth the Friendship Café, wo¢l(ing together on community events, shared resOUrs, and regular activities.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Gloucester College: Our relationship with Gloucester College has deepened over the year. We've worked with staff and students- especially disabled students and students with learning dlfferences- on creative projects, Lunch Club activities, woodworking sessions to build planters, and allotment work. We also partnered with artists at Jolt to support students in artistic expression. Gloucester Gateway Trust (GGTI.. This d05e, ongoing relationship spans food distribLrtion, community development (Bridging the Gap), product development for The SeNices, transport provision (including use of our minibus and driver), and shared activities like beekeeping and woodworking. GloucesterJhlre Wlldllfe Trust: Our initial collaboration on GenIng Barton SttBet has grown into long-term mmunity stewardship of six public planters. We continue to work together on local growing and rewlding initiatives. Healthy Communities Together: We are part of this group of people from across Health, Local Government and the VCS sector coming together around a shared belief in the need for a different way to tsckle fairer health. Hobbs House Bakery. Gloucester Servlces, and GGT: Thanks to our partnership, we receive weekly bread donations that are shared with 11>20 families and >4 community food groups each week. Jolt: In partnership with Jolt, we've run creative activities including yOLrth art projects (wtth Gloucester College). art group visits. and coffee momings for young asylum seekers. Museum In the Park: We've collaborated to offer community activities and host our most popular Gentle Walks. The museum also houses several of our Memory Boxes, available for local people to borrow. Nailsworth Alzhoim6r's Café: After 20+ years of volunteer-led operation, the café faced closure when its lead organiser retired. Our Stroud Time Broker stepped in to coordinate activities, speakers and partiCiFonts, to ensure continuity- Thanks to this support, the café still meets monthly, welcoming 40-50 people living with dementia and their carers. It remains the district's most popular memory café and a vital source of peer support. Nelson Trust: We partnered on a community garden in Conduit street. In retum, Nelson Trust supported our participants in clearing their own gardens and delivered creative allotment activities, including willow heart- making and bird feeder construction. Nourishlng Gloucester Project: In collaboration with Gloucester Gateway Trust (GGT) and Gloucester City Council, we distributed food vouchers totalling £4,220 to local families and individuals in need. The Hotspots Network: This network brings together voluntary and community groups across GIoUstershIre including Fair Shares, GL11, GGT, The Grace Network, The Venture, and the Gloucester Community Building Collective to share ideas, strengthen partnerships, and create more sustainable, thriving communities. The Venture: As a delivery partner, we collaborated on the Million Hours programme, supported food distribution through their Home Cooking Kits, and partnered on several shared community projects.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Acknowledgements We extend our heartfelt thanks to the many organisations who have worked alongside and supported LB throughout the year, including: Active Impact All Pulling Together (APT), Stonehouse Alzheimer's Society Advisors Barnwood Trust Community Dementia Nurses Cotswold Boalmobility Creative Sustainability Extra Care Charitable Trust FVAF GIOuster City Council Gloucester Servitss Gloucestershire County Council Gloutsstershire Dementia Action Alliance Gloucestershire Gateway Trust Gloucestershire Library Services (Stroud & Stonehouse) GIOUsterShIre Mental Health Team GIoUstershIre Wldlife Trust Hobbs House Bakery Housing 21 Jolt Longfield Communty Hospi Mindsong Mudwalls Farms Ltd Museum in the Park Nailsworth Alzheimer's Café Nailsworth Dementia Action Alliance Nelson Trust NHS Dementia Training and Education Team Singing for the Brain Slimbridge Legion Social Club Stonehouse Fig Tree Memory Group Stroud District Council stroud Town Council Supporters of the Stroud Dementia Action Alliants launch TheAppleby Centre The Friendship Café The Venture Community Hub Top of Town {ToTs) Community Group Top ofTown Tots & Community Hub Whitehill and Ruscombe Community Hub Wynn's Café, Stonehouse Young Gloucestershire We are especially grateful to our creative, supportive, and dedicated parbcipants who contribute so much to our community. Wthout these people. Fair Shares wouldn't exist. °It means community. If you can. spend time, enjoy, engage and help people. It is many things and to me its hon78.° Equality and Diversity At Fair Shares, we are committed to fostering an inclusive environment where everyone of every background, heritage, religion, age, gender, disability, and life experience is welcomed and valued. We believe that diversity enriches our community and enhances the effectiveness of our work.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our Commltment to Dlverslty Inclusive Environment: We welcome a diverse group of participants, staff and trustees, comprising individuals from various ethnicities, religions, and backgrounds, including those with disabilities and Itved experience of mental health issues. We strive to 8nsure that everyone feels respected, supported, and empowered to contribute fully to our misslon and that everyone respects and supports others. Community Engagement: We actively engage with a wide range of individuals and groups, indudiro older adults {60+). children and young people {ages 3-25}, people with physical and mental health conditions, individuals with learning drfficulties, refugees, and those with experiences in the criminal justice system. Our goal is to break down barriers and ensure that our community is accessible to all. Respect for Indlvlduallty: We recognise the Importan of r8specting each person's unique identty. TrIle we do not always collect data on heritage or background to avoid creating barriers, we remain committed to understanding and responding to the diverse needs of our community. Ongolng Efforts and Recognltlon Contlnuous Improvement.. We acknowledge that there is always more work to do in reaching and supporting our diverse communities. We are continuously striving to evaluate and adapt our practices to be more inclusive as a charity and as an employer recognising the improvements we need to make in accessibility and outreach. Incluslve Employer: Fair Shares has been recognised as an Inclusive Employer by Indusive Gloucestershire. rellecting our dedication to equality and diversity in all aspects of our work. Sustslnablllty At Fair Shares, we recognise the climate crisis and the damage done to the natural world- sustainable development is central to our mission. We believe in a holistic approach that balances environmental stewardship with social and economic development. Our commitment to sustainability not only reflects our responsibility to the environment but also enhances the resilience and impact of our work within the community. We strive to reduce our ecological footprint while ensuring the safe and efficient delivery of our activities. Our sustalnablllty efforts Include: Sharlng Tlme and Skllls.. We foster a communty of sharing, where knowledge, skills. and time are exchanged to support sustsinable practices and empower individuals. Repurposlng Materials: We prioritise the redistribution of food and the reuse of wood and other materials, reducing waste and promoting a circular economy within our projects. Utilising Second-Hand Resources: We actively seek out second-hand and reclaimed resources sheds, paving mateiials, and plants to minimise our environmental impact. induding Promotlng Organlc Practlces: We grow plants organically, avoiding the use of herbicides and pesticides, to support biodiversity and protect our environment. Compostlng: We compost organic waste, tuming it into valuable soil enhancers that SUPPOrt our gardening and farming initiatives. Sustainable Transport: We encourage walking, cycling, and the use of public transport wherever practical, reducing our carbon footprint and promots'ng healthier lifestyles. Advocating Environmental Awareness: Vve actively encourage and support our community members to adopt environmentally mindful practices, extending the impact of our sustainability efforts beyond our organisation.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We are committed to continuously improving our sustainability practices, setting realistic goals, and being transparent about our progress. By working together, we can create a more sustainable fvture for our community and the planet. Flnanclal revlew All restricted funds, provided by trusts and local authorities for specific projects, are spent in accordan with the conditions of the fijnding, unless otherwise agreed with the grant provider. Totsl income ft)r the year was £249.943, up from £241,910 in the 202>2024 financial year - an increase of £8,033. As in previous years, the majority of our income was derived from restricted funding. Total expenditure for the year was £249.806, up from £216,260 in the 202>2024 financial year - an increase of £33.546. At the end of the year, our unrestricted res8rv8S Stood at £101,971, equivalent to beeen four to six months of operating expenditure. Reserves Policy Fair Shares adopts a systematic approach to policy review, led by trustees. to ensure all policies remain current and relevant. As a small charity heavily reliant on grant income, it is essential to maintain reserves to manage unforeseen 8mergencies, provide short-temi funds to overcome budget defiats, manage liabilities in the event of organisational dosure, and deliver planned commitments. In developing the Reserves Policy, trustees consider the level of risk and the likelihood of such risks occurring, balanced against the organisation's capacity tt) hold sufficient unrestricted reserves. The availabilty of accessible restricted funds is also considered vthen assessing the level of unr8Strtcted resenies required. Reserves requirements are reviewed by the Main Board of Trustees at least every six months, and more frequently by the Finance Committee. The aim is to maintsin reserves equivalent to three to six months of operating costs. Financlal monltoring Includes: Monitoring of Fair Shares, income and expenditure throughout the year against the annual budget plan Receipt of financial activity and budget monitoring reports at each committee meeting Approval of any necessary budgetary adjustments in response to changing circumstances Reporting to the full Board of Trustees, highlighting potential problems or significant anomalies. Structure, Governanca, and Management Fair Shares is a charitable company limited by guarantee, incorporated on 21 October 2003. It has no share capital and is a registered charity, with each membels guarantee limited to £1. Fair Shares actively seeks to recruit additional trustees from our local communities. The Finance Committee comprises two trustees and the CEO, with support from the Finance Officer. The committee meets at Ist six times a year often more frequently and reports to the main Board of Trustees.
FAIR SHARES GLOUCESTERSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Temis of Reference: Support the Fair Shares Board of Twstees in fuffilling its responsibilities conceming the budget and finances Establish and maintain a three-year financial plan, considering the Fair Shares Strategy, future economic conditions, and changes in legal requirements or Charity Commission guidance Draft and propose an annual budget for adopts'on by the Board of Trustees, aligned strategic priortties Ensure sufficient fiJnds are set aside to meet liabilites and risks, maintaining an adequate and sustainable reserves policy Review, adopt, and monrtor all financial policies Advise the Board of Trustees on financial implications related to existing and new contracts In addition, Fair Shares contracts with HR People Support to provide HR and management advice. Trustees are elected to sepie a three-year temi, after which they must be re*lected at the next Annual General Meeting. Efforts are made to ensure that participants are appropriately presented ythin the trustee body by encouraging participants to become tnjstees. None of the trustees has any beneficial interest in the company. There has been one addition to the Board of Trustees during 2024-2025 period. Rob Palmer joined as a trustee in 25th November 2024. The Board met on six occasions, in addition to the 2023-2024 Annual General Meeting. Day-to-day operational decisions are made by the CEO, wtth referen to trustees as necessary. Fair Shares employed ten people and engaged one self-employed contrador during the financial year, with total staff hours equivalent to approximately 5.75 fu114ime staff. Trustees are responsible for decisions related to overall strategic diredion and those with significant financial implications, such as the use of reserves. They have assessed the major risks to which the charitable company is exposed and are satisfied that systems are in Pla to mitigate these risks. Trustees during the year and up to the date of signing the financial statements: A. Cathles J. Cigman P. Gifford J. Lewis R. Palmer M. Smith C. Steele The trustees, report was approved by the Board of Trustees. A Cathles Joint Chair of Trustees J Cigman Joint Chair of Trustees 21 July 2025
FAIR SHARES GLOUCESTERSHIRE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also the directors of Fair Shares Gloucestershire for the purpose of company law, are r&sponsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which gtve a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of reSoUrs, including the income and expenditure, of the charÉtable company for that year. In preparing these financial statements, the Trustees a required to.. select suitable accounting policies and then apply them consistently- - observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any matertal departures disclosed and explained in the financial statements,. and 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 auraCY at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Compani8s Act 2006. They are also responsible for safeguarding the assets of the charttable company and hence for taking reasonable steps for the pr&vention and detection of fraud and other irregularities. 10-
FAIR SHARES GLOUCESTERSHIRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FAIR SHARES GLOUCESTERSHIRE I report to the Trustees on my examination of the financial statements of Fair Shares GISter$hIre (the charitsble company) for the year ended 31 March 2025. Responslbllltles and basls of report As the Trustees of the charitable company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charibes Act 2011. In carrying OLrt rny examination I have followed the Directions given by the Charity Commission under section 145(5)(b> of the CharitiesAct 2011. Independent examlnerfs ststement I have completed my examination. I confim that no matters have come to my attention in connection wth the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charitable company as required by section 386 of the Companies Act 2006. the financial ststements do not accord wth those records,. or the financial ststements do not comply with the accounting requirements of section 396 of the ComFAnies Act 2006 other than any requirement that the financial statements give a true and fair view, which is nct a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawrt in this report in order to enable a proper understanding ofthe financial ststements to be reached. Grlfffths Marshall 4th Floor Llanthony Warehouse The Docks Gloucester Date.. 11
FAIR SHARES GLOUCESTERSHIRE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrlcted funds funds 2025 2028 Total Unrestrlcted Restrlcted funds funds 2024 2024 Total 2025 2024 Notes Income and endowments from: Donations and legacies Income resources from charitable activities 10,670 216,452 227,122 10,560 194,624 205,184 4,185 4,185 946 946 Other trading activities Other income 6,710 1,092 10,834 7,802 10.834 7,096 6,904 21.780 14,000 21,780 Total income 17.380 232,563 249,943 17,656 224,254 241.910 Expenditure on: Cost of generating funds 3,991 3,991 3,618 3,616 Charitable activities other expenditure 2,645 213 242,957 245,602 213 3,443 204 208.997 212,440 204 10 Totsl expendlture 2,858 246,948 249,806 3,647 212,613 216,260 Net Incomel(expendlture 14,522 (14,385) 137 14.009 11,641 25,650 Transfers between funds (1) Net movement In funds 14.521 (14,384) 137 14,009 11,641 25,650 Reconclllatlon of funds: Fund balances at 1 April 2024 87,450 155,547 242,997 73,441 143,906 217,347 Fund balances at 31 March 2025 101,971 141,163 243,134 87,450 155,547 242,997 The statement of financial activities includes all gains and losses recognised in the year. Al income and expenditure derive from continuing activities. 12-
FAIR SHARES GLOUCESTERSHIRE BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 15 898 1,197 Current assets Debtors Cash at bank and in hand 16 3,248 333,104 4,117 321,691 336,352 325,808 Creditors: amounts falling due within one year 18 {94.118) (84,008) Net current assets 242,236 241,800 Total assets less current liabilities 243,134 242,997 The funds of the charitable company Restricted funds Unrestricted funds 21 141,163 101.971 155,547 87,450 243,134 242,997 The company is entiled to the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, forthe year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its finanaal statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The finanaal statements were approved by the Trustees on 21 Juty 2025 A Cathles Joint Chair of Trustees J Cigman Joint Chair of Trustees Company registration number 04938680 (England and Wales) 13-
FAIR SHARES GLOUCESTERSHIRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flow& from operatlng activities Cash generated froml{absorbed by) operations 22 11,413 (7,046) Net cash generated from Investlng actlvltles Net cash generated from financlng actlvltles Net increasel(decrease) In cash and cash equlvalents 11,413 (7,048) Cash and cash equivalents at beginning of year 321,691 328,737 Cash and cash equlvalents at end of year 333,104 321,691 14-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Company Infonnation Fair Shares GIOUSterShIre is a private company limited by guarantee incorporated in England and Wales. The registered Offi is Chequers Bridge Centre, Painswick Road, GIOUSter, GL4 6PR. 1.1 Accounting conventlon The financial statements have been prepared in accordan with the charitable company's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement ol Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). (as amended for accounting periods commencing from 1 January 2016). Th& charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterting, which is the functional currency of the charitsble company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charitable company has adequate reSoUrS to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in fijrtherance of their charitable objedives. The charity holds restricted and unrestricted funds. Unrestricted funds are used for the general purposes of the charity. Restricted funds are used only for the particular purpose for which they are intended. Endowment fvnds are subject to specific conditions by donors that the capitsl must be maintained by the charitable company. 1.4 Incomlng resources Income is recognised when the charitable company is legally entitled to it after any Performan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitsble company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in r81ation to donations received under Gift Aid or deeds of covenant is recognised at th8 tim8 of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and re[pt is expected. If the amount is not known, the legacy is treated as a contingent asset. Tumover is measured at the fair value of th8 consideration received or receivabl8 and represents amount receivable for goods and services provided in the normal course of business. 15-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Continued) 1.5 Resources expended Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT 1¢h cannot be recovered. Resources expended are recognised in one of the following three categories on the subsequent basis.. Generatlng funds: Costs incurred to help the charity generate incoming resources through th8 sale of goods from shops, incfuding repairs and maintenance. Charltable Actlvltles: resources used to help the charity meet its main aims and objectives and provide care for the general public. Governance Costs: Subsequent costs of financing the charity and meeting our statutory requirements 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ol depreciats'on and any impairment losses. Tangible fixed assets for the use by the charity are capitalised on acquisition based on the nature of the asset. Any ass8t that has a value of lower than £1,000 is treated as an expense in the year of acquisition. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to vfflte off the cost less estimated residual value of each asset over its expected usefvl life, as follows: Fixtures, fittings & equipment Motor vehicles 3 Years straight line 250h Reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carying value of the asset, and is recognised in the statement of financial activitie5. 1.7 Impaimient of fixed assets At each reporting end date, the charitable company reviews the carying amounts of its tangible assets to determine vthether there is any indicats'on that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaiment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects Cuent market assessments of the time value of money and the rtsks specific to the asset for which the estimates of fvture cash tlows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impa1ment loss is recognised immediately in incomel (expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impaimient loss is treated as a revaluation decrease. Recognised impaimient losses are reversed if, and only rf, the reasons for the impairment loss have aSed to apply. Where an impairment loss subsequently reverses, the carying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would hav8 been determined had no impaimient loss been recognised for the asset in prior years. A reversal of an impaimient loss is recognised immediately, unless the relevant asset 15 carried in at a revalu8d amount, in which case the reversal of the impaimient loss is treated as a revaluatK)n increase. 16-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Contlnued) 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable companvs balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net arnounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and th8re is an intention to settle on a net basis or to realise the asset and settle the liabilty simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnancial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequantly carried at amortised cost, using the effectiv8 interest rate method. Trade creditors are obligations to pay for goods or service5 that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified a5 current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequentiy measured at amortised cost using the effective interest method. Derncognltlon of financlal Ilabllltles Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or canlled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's servi$ are received. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to temiinate the employment of an employee or to provide temiination benefits. 1.11 Retlrement benefits Payments to defined contribution retir8m8nt b8nefft schemes are charged as an expense as they fall due. 17-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 crftlcal accountlng estlmates and Judgements In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sOUrs. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undedying assumptions are r8vi8wed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects (lY that period, or in the period of the revision and future periods where the revision affects both cuffent and future periods. Grants and donations Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts Grant income 10,670 14,038 202,414 24,708 202,414 560 10,000 10,514 184,110 11,074 194,110 10,670 216,452 227.122 10,560 194,624 205,184 Donatlons and gifts Donations 10,670 14,038 24,708 560 10,514 11,074 10,670 14,038 24,708 560 10,514 11,074 18-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grants and donatlons (Contlnued Grant Income Unrestrlcted Restrlcted funds funds 2025 2025 Totsi Unrestricted Restricted funds fijnds 2024 2024 Total 2025 2024 Allen Lane Foundation Anonymous Barnwood Trust Charfes Hayward Foundation Garfield Weston Foundation Gloucester Cty Council Gloucester Cty Homes Gloucestershire Community Foundation Gloucestershire County Council Gloucestershire Gateway Trust Gloucestershire Wildlrfe Trust Henry Robert Ball Charitable Trust Henry Smith Charity Langtree Trust National Lottery Community Fund Office of the Police and Crime Commissioner Gloucestershire Postcode Local Twst Rotary in Gloucester Community Rotary Club of Stonehouse Rowlands Trust Saintbury Trust St James Place Foundation Stroud District Council Summerfield Trust Thirty Percy Foundation Hotspots NeOrkPrOJeCt Venture Community Hub Whitehill Chase Foundation 3,000 3,000 3,000 3,000 10,000 4,000 10,000 5.000 2,500 35,000 2,250 5,000 2,500 35,000 2,250 4.000 5,000 1.690 500 5,000 1,890 500 4,500 30,999 9,150 4.500 30,999 9,150 8,500 45,850 20,500 500 8,500 45,850 20,500 500 1,500 1,500 9,240 9,240 500 500 73,018 73,018 45,750 45,750 2,500 10,000 2,500 10,000 5,000 9,480 5.000 9.480 500 500 200 7,000 1,000 200 7.000 1,000 5,000 4,000 5,600 5,000 4,000 5,600 4,000 4,000 10,000 10,000 7,297 3,000 7,297 3,000 202,414 202,414 10,000 184,110 194,110 19-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Incomlng resources from charltable actlvitios Unre¥trided funds Restricted funds Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2025 2025 2024 Woodworking income 4.185 4,185 946 other trading actlvltles Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Fees Woodworking income 6,110 600 1,092 7,202 600 6,306 790 6.904 13,210 790 6,710 1.092 7,802 7,098 8,904 14,000 Other income Unrestrfcted R8strl¢ted funds funds 2025 2025 Total Unrestricted Restricted funds nds 2024 2024 Total 2025 2024 Other income 10,834 10,834 21,780 21,780 Ralsing funds Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Costs of generating funds 3,991 3,991 3,616 3.616 3.991 3,991 3,616 3,616 -20-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the Trustees (or any persons connected with them) received any remuneration or were reimbursed expenses during the year. Expendlture on charltable actlvltles 2025 2024 Dlrect costs (see note 13) Staff costs 168.666 143.969 Share of support and governance costs Isee note 12) Support Goveman 74,624 2,312 66,007 2.464 245,602 212,440 Analysls by fund Unrestricted funds Restricted funds 2,645 242,957 3,443 208,997 245,602 212,440 10 Other Unrestricted Restrlcted funds funds 2025 2025 Total Unrestricted Restrtcted funds funds 2024 2024 Totsl 2025 2024 Financing costs 213 213 204 204 213 213 204 204 11 Taxation The charitable company is exempt from corporation tsx on its charitsble activities. -21
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Support costs Support Governance costs costs 2025 Support costs Govemance costs 2024 Depreciation Rent, rates & room hire Postsge, printing & office supplies Phone. intemet & computer Staff travel, expenses & training Project activity costs Professional fees Equipment Evaluation & subscriptions Insurances 299 12,220 299 12,220 399 12,138 399 12.138 262 262 852 852 2,726 2,726 2.754 2,754 10.684 43,212 34 834 10,684 43,212 6,407 37,691 358 1,225 6,407 37,691 358 1,225 834 760 3,593 760 3,593 707 3,476 707 3,476 Audit fees 2,312 2,312 2,464 2,464 74,624 2,312 76,936 66,007 2,464 68,471 Analysls by fund Unrestricted funds Restricted funds 333 74.291 2.312 2,645 74,291 979 65,028 3,443 65,028 74,624 2,312 76,936 66,007 2,464 68,471 13 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Fair Shares Stroud Gloucester Young People's Project Totsl 10
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Employees (Contlnued) Employment costs 2025 2024 Vvages and salaries Social security costs Sessional stsff Recruitment Other pension costs 156,820 4,311 4.725 56 2,754 135,272 2,520 4,237 1,940 168,666 143,969 Analysis by fund Unrestricted fvnds Restricted funds 168,666 143,969 168,666 143,969 There were no employees whose annual remunerats'on was more than £60,000. Remuneration of key management Personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregate compensation 27.975 26,704 14 Retirement benefft schemes 2025 2024 Defined contrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes 2,754 1,940 The charttable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund The People's Pension. -23-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Tanglble flxed assets Fixtures, fittings & oqulpment Motor vehlcles Totsl Cost At 1 April 2024 24,934 60.275 85,209 At 31 March 2025 24.934 60,275 85,209 Depreciatlon and Impalrnient At 1 April 2024 Depreciation charged in the year 24,934 59.078 299 84,012 299 At 31 March 2025 24,934 59,377 84,311 Carrying amount At 31 March 2025 898 898 At 31 March 2024 1.197 1,197 16 Debtors 2025 2024 Amounts falllng due within on8 year: Trade debtors Prepayments and accrued income 704 1,779 2.338 3,248 4,117 17 Cash at bank and In hand 2025 2024 Bank Cuent account Petty cash 328,957 4,147 318.153 3,538 333,104 321,691 18 Credltors: amounts falllng due wlthln one year 2025 2024 Notes Deferred income Trade creditors Accruals 19 86.558 5,558 2,000 79,368 2,540 2,100 94,116 84,008 -24-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Deferred Income 2025 2024 Arising from Deferred Income 86,558 79,368 20 Analysls of net assets between funds Unrestrlcted funds 2025 Restrlcted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsl(liabilities) 898 101,073 898 242,236 141,163 101,971 141,163 243,134 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 1,197 86,253 1,197 241,800 155,547 87,450 155,547 242,997 -25-
FAIR SHARES GLOUCESTERSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement In funds Incoming Rgsources resourcos expended 8alance at 1 April 2024 Transfer5 Balanco at 31 March 2025 BTNP Gloucester Nehvork Crafts Group New Vehicles Stroud Vehicles Woodworking Young People's Project 774 74,334 5,111 22,493 20,450 6,760 157,600 1,225 5,717 34,068 1.117 {6,098) (173,297) (619) 1,438 58,637 5,717 28,210 14,738 {39,778) {1,118) (23) (26,015) 1,070 31,315 1,047 31,378 26,078 155,547 232,563 {246,948) 141,163 Unrestrlcted funds Balan¢e at 1 Aprll 2024 Incoming Rosources expended Transfers Balance at 31 March 2025 Support Woodworking 83,526 3,924 16,780 600 (2,858) (1) 97,447 4,524 87,450 17,380 (2,858) (1} 101,971 22 Cash generated from operatlons 2025 2024 Surplus for the year 137 25,650 Adjustments ftir: Depreciation and impairment of tangible fixed assets 299 399 Movements in working capital.. Decreasel(increase) in debtors Increasel(decrease) in creditors Increasel{decrease) in deferred income (1,323) (701) (31,071) 2,918 7,190 Cash generated frorThl(absorbed by) operatlons 11,413 (7,046)