REGISTERED COMPANY NUMBER: 05781363 (England and Wales) REGISTERED CHARITY NUMBER: 1116562
REPORT OF THE TRUSTEES AND
CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
FOR
RECYCLING LIVES CHARITY
DJH Audit Limited Accountants Statutory Auditors The Exchange 5 Bank Street Bury BL9 0DN
RECYCLING LIVES CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
Seee
| Page | |||
|---|---|---|---|
| Reportofthe Trustees | 1 | to | 7 |
| Report ofthe IndependentAuditors | 8 | to | ll |
| Consolidated Statement of Financial Activities | 12 | ||
| Charity Statement ofFinancial Activities | 13 | ||
| Consolidated Statement of Financial Position | 14 | ||
| Charity StatementofFinancial Position | 15 | ||
| Statement ofCash Flows | 17 | ||
| Notes to the Consolidated Statement ofCash Flows | 18 | ||
| NotestotheConsolidatedFinancialStatements | 19 | to | 34 |
RECYCLING LIVES CHARITY REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024 Seea gc The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 30 April 2023 to 30 April 2024. Although the accounting reference date is to 29 April, for administrative reasons the accounts have been prepared to 30 April.
Reporting framework
The trustees’ annual report and financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), referred to as the Charitics SORP (FRS 102) (second edition - October 2019).
OBJECTIVES AND ACTIVITIES Objectives
Charitable Objects are set out in the Articles of Association as follows -
the promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation (and in particular, but not limited to, Lancashire) by all or any of the following means:
- 1.1 the relief of poverty in such ways as may be thought fit;
1.2. the relief ofunemployment in such ways as may be thought fit, including assistance to find employment;
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1.3. the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;
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1.4 the provision of financial assistance, technical assistance, or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitable need through help
1.4.1 in setting up their own business, or
1.4.2 to existing businesses;
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1.5 the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms;
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1.6 the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing;
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1.7 the maintenance, improvement or provision of public amenities;
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1.8 the preservation of buildings or sites of historic or architectural importance;
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1.9 the provision or assistance in the provision of recreational facilities for the public at large and/or those who, by reasons of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facilities;
1.10 the protection or conservation of the environment;
1.11 the promotion of public safety and prevention of crime; and
- 1.12 such other means as may from time to time be determined subject to the prior consent of the Charity Commission for England and Wales.
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RECYCLING LIVES CHARITY
REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024 ane A a re gc
OBJECTIVES AND ACTIVITIES
Activities The charity undertakes the following activities either itself of through its subsidiary company in pursuit of its objectives:
- Accommodation and rehabilitation programme for ex-offenders and ex-homeless - Training and work experience within prisons and the community through recycling work - Training placement and mentoring programme - Food distribution programme - Running a café to provide work, work experience and training for ex-offenders and ex homeless people - Other environmental projects
STRATEGIC REPORT
Achievement and performance Charitable activities The year ending April 30th 2024 was, once again, another year where our charity and its social enterprise have made an enormous difference to our beneficiaries.
Our rehabilitation team worked with over 270 people, of whom less than 6% reoffended. Well over 70% of those people who came out of prison secured employment, a key building block in getting back to positive, independent living.
The addition of the role of Housing Officer added a new string to our bow and has meant that we can help solve another of the main issues facing prison leavers - that of securing a safe and decent place to live. Too often men and women are being released with no fixed abode but our decision to invest in this area has paid dividends with 28 people being supported into their own accommodation.
Our ACE team worked with over 200 people who'd been referred by police, probation or prison necding support with multiple and complex needs. That less than 10% of that group reoffended is testimony to the dedication and effort that has gone into this area of our work. ACE also expanded its reach, reviving its relationship with HMP Preston to offer through-the-gate support to men being relcascd. The residential programme supported 14 men with accommodation, training opportunities, skills development and more.
Our specialist support offer grew throughout the year and the team supported over 80 people with 1,521 support sessions delivered. We also brought in a third Specialist Support worker, increasing the capacity and expertise within the team. Operationally, our food redistribution team diverted over 1,000 tonnes of food from waste and got them to the people who really need it. Over 140 community food member (CFM) groups used that food to deliver the equivalent of over 2.45 million meals across Lancashire and Cumbria. We also increased our capacity for redistributing non-food items, diverting 9 tonnes of toiletries and personal care items and 11 tonnes of pet food out to our network of CFMs. Food redistribution is one area where rising fuel and energy costs have really had an impact. We increased the numbers of CFMs supported in Cumbria in the last year, requiring more or longer journeys up to the county, to deliver goods to communities, thereby increasing our fuel bill. Rising energy costs also impact the food redistribution warehouse, which houses a number of large walk-in freezers and chillers to store food.
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RECYCLING LIVES CHARITY
REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024 aan pe nnn een naa tem
STRATEGIC REPORT (continued)
In our recycling workshops we recycled or refurbished over 1.56 million waste electrical items. This work not only helps the planet environmentally but is also the cornerstone of our rehabilitation programme by allowing participants to gain new skills and work ethic on their journey back to independent living.
Our Renew Hub partnership continued too, allowing us to offer paid work placements to ex-offenders in Greater Manchester. This workshop offered environmental and social benefits too - creating opportunities for dozens of men and women who refurbish thousands of electrical items ready for resale.
Over 100 people completed a cookery course with us in our training kitchen. Partnering with Jamie Oliver's Ministry of Food the courses offer participants the chance to learn how to cook fresh, nutritious, budget-friendly meals.
The work we do cannot be done without the help of volunteers who give us their time and expertise to enable our work to flourish and succeed. Over 80 people gave up their time across ACE, food redistribution and our community café and workshop. Each one has our gratitude.
Financially, the trustees took the decision to invest some of the surplus which had been built up in previous years. The arcas which were focused on were... - A full benchmarking review of all salaries to ensure that we are competitive when it comes to pay and benefits for our team. This is to ensure that we reward talent and retain our people. This resulted in substantial pay increases to rightly keep those who work tirelessly well rewarded. - We invested heavily in training, coaching and development for the team. - We brought in extra team members - a housing officer, an extra specialist support officer, an extra member of the ACE team, a new part time role in our cafe and 5 full time roles within our community workshop. - We also took the decision to maintain and pay for roles which had previously been funded by external grants as those grants ran out. The impact of the work was undeniably positive so using some of our surplus to continue this great work was the right thing to do. - Inevitably rising costs across the board meant that the cost of delivering our work went up. All of this has meant that we are showing a consolidated loss for the first time in several years. Given our impact allied to accumulated surpluses and the above rationales for increased spend, we are comfortable that we have acted correctly.
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RECYCLING LIVES CHARITY REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024 ec ee gr a ac nme
STRATEGIC REPORT
Financial review
Financial position
Overview The Group made a deficit for the year of £348,500 (2023: surplus - £338,986) and the charity had a deficit of £186,606 (2023: surplus - £480,906). Subsidiary company - Recycling Lives (Social Enterprises) Ltd (RLSE) With the exception of the accommodation programme, substantially all the activities are undertaken by the subsidiary RLSE, including some which could be considered charitable.
The directors and charity trustees are undertaking regular reviews of the activities carried out by RLSE to ensure that only low risk, fully funded and/or profitable activities, which are appropriate for it to undertake as the subsidiary of a charity, are continued.
RLSE was able to make a payment to the Charity of its taxable profits for the year of £nil (2023: £478,550) under gift aid.
Principal funding sources RLC has a diverse range of funding streams including the National Lottery and the Albert Gubay Foundation and commercial arrangements for recycling work through its subsidiary (RLSE) with Baxi Ltd and Recycling Lives Ltd (RLL). After 8 months of the financial year, the RLL situation changed which meant the arrangements were moved across to being with Recycling Lives Services Ltd and Global Ardour Recycling Ltd.
Reserves policy During the prior year the trustees reviewed their policy for financial reserves. The target of free reserves (unrestricted funds not invested in fixed assets or otherwise designated) was set to be between £200,000 and £400,000.
At April 30 2024, the charity's free reserves were £931,904 (2023; £875,725). The trustees have designated up to £500,000 of the reserves above the target level for new projects and growth.
Going concern In the opinion of the trustecs, there is no material uncertainty regarding the charity’s ability to continue as a going concern. The trustees note the strong reserves and cash position of the charity, which are deemed sufficient to ensure the charity can continue to operate for the next 12 months.
Risk management The Trustees regularly review the risks to which the charity is exposed and seek to apply appropriate strategies to mitigate, lay-off and manage these risks.
The Trustees consider that the current practices and future plans to respond to these risks are appropriate and that, as a result, such risks are being effectively managed.
STRATEGIC REPORT
Future plans The next 12 months will be challenging financially as we look to maintain and even grow our impact. The part sale/part restructure of our biggest financial partner, Recycling Lives Ltd will have an impact on part of our funding model. Whilst the newly formed Recycling Lives Services Ltd business will continue to partner with us, we will need to look for new partners to bolster our scope of work.
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RECYCLING LIVES CHARITY REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
STRATEGIC REPORT (continued) Those partners will need to consist of businesses who want to work with us in new workshops within the prison setting and within the community. We will also look to maintain and develop our relationships with funders and seek out new funders and financial supporters. We are scoping new sponsorship relationships to cover costs for salaries, for example, identifying businesses to sponsor elements of our work in return for social value reports which they can use to demonstrate their CSR commitments.
We have identified where some of our offerings can be expanded, or where our expertise can be commercialised to generate additional revenue. Off the back of the successes of our Training Kitchen offering, we will be developing and delivering tailored courses, taking these in locations beyond just our own facilities, such as in prisons or with other charities. Drawing on the expertise and experience of our Specialist Support team, we are developing an external training offer too, to deliver paid-for courses and workshops to businesses and organisations.
Whilst we have worked hard over the last six years to broaden our financial footprint, we will need to do even more to ensure that the challenging budget we have set ourselves is hit.
However, we will not hesitate to use historical surpluses if we need to whilst we build up that new financial footprint.
In summary, whilst we expect a second challenging year financially, we will put in more building blocks to ensure our continued future financial security whilst ensuring that we are able to keep our participants and beneficiaries front and centre of our thoughts at all times.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisation is a charitable company limited by guarantee, established by its Memorandum of Association and is governed under its Articles of Association dated April 13 2006, as amended by special resolution dated July 4 2006 and further amended by special resolution dated 24th July 2019.
Members of the company Following the latest change to the Articles of Association, the membership of the company is restricted to the trustees and terminates if a member ceases to be a trustee, except that, if retiring at an AGM, all the trustees remain members until the conclusion of the meeting.
Recruitment and appointment of new directors/trustees The Directors who scrved during the year together with any changes are listed on page one of the annual report. The Directors are appointed by the members at the AGM or are co-opted by the trustees. All trustees retire at the AGM and are eligible for re- election.
Trustees are recruited with regard to the skills needed by the charity.
Induction and training of new trustees Trustees are inducted by spending time with senior management and visiting the various aspects of the charity. They are also given a pack of documentation consisting of polices, recent minutes and reports.
Organisation
The Board of Directors meets as necessary, and not less than four times a year. The quorum for a meeting of the trustees is the greater of two or one third of their number. The Board is responsible for the strategic direction and policy of the charity.
The day to day operation of the charity is the responsibility of the Chief Executive and the other members of the senior management who together with the trustees constitute the key management personnel of the charity.
Pay and remuneration for senior staff Senior staff salaries are reviewed annually and benchmarked against other charities and social enterprises. Recommendations are then given to trustees for sign off cach year.
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RECYCLING LIVES CHARITY
REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05781363 (England and Wales)
Registered Charity number 1116562
Registered office Recycling Lives Centre la Essex Street Preston PR1 1QE
Trustees J B Taylor D Snape B J Mayne C Jackson N J Whittle C Whalley-Hunter
Auditors
DJH Audit Limited Accountants Statutory Auditors The Exchange 5 Bank Street Bury BL9 ODN
Senior Management Team Chief Executive A B Jackson Head of Operations T R Carysforth Head of Rehabilitation R Thackray Head of Residential N Flanagan Food Distribution Manager L Hodson ACE Manager G Welsh Specialist Support Lead *F McManus
(* are employed by a subsidiary company)
Solicitors Brabners LLP 55 King Street Manchester M2 4LQ
Bankers Barclays Bank 38 Fishergate Preston PRI 2AD
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RECYCLING LIVES CHARITY
REPORT OF THE TRUSTEES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Recycling Lives Charity for the purposes of company law) are responsible for preparing the Report of the Trustees 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 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 those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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- observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, DJH Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company irectOrs, OM ....ce...sseesseesseeessseesssseveseseeees. and signed on the board's behalf by:
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RECYCLING LIVES CHARITY Ncme er Ett i a
Opinion We have audited the financial statements of Recycling Lives Charity (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the period 30 April 2023 to 30 April 2024 which comprise the consolidated Statement of Financial Activities, the parent charitable company Statement of Financial Activities, the group and parent charitable company Statement of Financial Position, the consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group’s and parent charitable company's affairs as at 30 April 2024 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilitics for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We belicve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing s0, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RECYCLING LIVES CHARITY
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its subsidiary and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to cnable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company's ability to continue as a going concer, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RECYCLING LIVES CHARITY ONeeDo oe et a ee Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of our planning process:
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We enquired of management the systems and controls the group has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The group did not inform us of any known, suspected or alleged fraud.
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- We obtained an understanding of the legal and regulatory frameworks applicable to the group. We determined that the Charities SORP (FRS 102) and the Companies Act 2006 most relevant.
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We considered the incentives and opportunities that exist in the group, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
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Using our knowledge of the group, together with the discussions held with the group at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.
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The key procedures we undertook to detect irregularities including fraud during the course of the audit included: - Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual,
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Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
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- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to estimating the useful economic life of an asset and its residual value and in categorising leases as finance or operating leases.
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Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entitics ability to continue in operation.
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Testing key income lines for evidence of management bias.
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Obtaining third-party confirmation of material bank and investment balances.
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Documenting and verifying all significant related party balances and transactions.
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Reviewing third party documentation and correspondence for discussions of irregularities including fraud.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the group.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RECYCLING LIVES CHARITY
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Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members and its trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Richard Askey (Senior Statutory Auditor) for and on behalf of DJH Audit Limited Accountants Statutory Auditors The Exchange 5 Bank Street Bury BL9 ODN
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RECYCLING LIVES CHARITY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
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|---|---|---|---|---|---|---|---|
|eeee|eee|
|2024|2023|
|Unrestricted|Restricted|Total|Total|
|Notes|funds£|fundsE|funds£|funds£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|2|47,561|105,585|153,146|240,941|
|Charitable|activities|4|
|Workshops|1,127,967|-|1,127,967|1,006,056|
|Food|distribution|283,421|7,208|290,629|339,131|
|Cafe|42,194|-|42,194|52,249|
|Kitchen|training|14,521|-|14,521|27,277|
|Rehabilitation|106,809|283,288|390,097|395,838|
|Residential|work|43,890|-|43,890|14,522|
|ACE|200|109,395|109,595|194,497|
|Social|value|255,725|-|255,725|402,591|
|Investment|income|3|42,768|-|42,768|-|
|Total|1,965,056|505,476|2,470,532|2,673,102|
|EXPENDITURE|ON|
|Charitable|activities|5|
|Workshops|906,658|-|906,658|915,425|
|Food|distribution|405,704|12,386|418,090|408,998|
|Cafe|74,333|-|74,333|85,552|
|Kitchen|training|35,534|70,471|106,005|48,354|
|Rehabilitation|224,472|355,849|580,321|$71,801|
|Residential|work|167,306|-|167,306|112,614|
|Other|424,963|-|424,963|158,969|
|ACE|-|141,017|141,017|146,098|
|Bikes|-|339|339|-|
|Other|-|-|-|(113,695)|
|Total|2,238,970|580,062|2,819,032|2,334,116|
|NET INCOME/(EXPENDITURE)|(273,914)|(74,586)|(348,500)|338,986|
|Transfers between|funds|18|(319)|319|-|-|
|Net|movement|in|funds|(274,233)|(74,267)|(348,500)|338,986|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|1,602,332|128,839|1,731,171|1,392,185|
|TOTAL FUNDS CARRIED FORWARD|1,328,099|54,572|1,382,671|731171|
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The notes form part of these financial statements
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RECYCLING LIVES CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
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|---|---|---|---|---|---|---|---|
|2024|2023|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND ENDOWMENTS|FROM|
|Donations|and|legacies|2|15,332|1,221|16,553|618,952|
|Charitable|activities|4|
|Residential|work|43,890|-|43,890|14,522|
|ACE|200|109,395|109,595|194,497|
|Investment|income|3|42,768|-|42,768|-|
|Total|102,190|110,616|212,806|827,971|
|EXPENDITURE|ON|
|Charitable|activities|5|
|Residential work|167,307|-|167,307|75,101|
|Other|90,567|-|90,567|125,866|
|ACE|-|141,017|141,017|146,098|
|Kitchen|-|182|182|-|
|Bikes|-|339|339|-|
|Total|257,874|141,538|399,412|347,065|
|NET|INCOME/(EXPENDITURE)|(155,684)|(30,922)|(186,606)|480,906|
|Transfers|between funds|18|(319)|319||et|-|
|Net movement|in|funds|(156,003)|(30,603)|(186,606)|480,906|
|RECONCILIATION|OF|FUNDS|
|Total|funds brought|forward|1,587,907|48,399|1,636,306|1,155,400|
|TOTAL FUNDS CARRIED FORWARD|1,431,904|17,796|1,449,700|1,636,306|
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The notes form part of these financial statements
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RECYCLING LIVES CHARITY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 APRIL 2024
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|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|2024|2023|
|funds|Restricted|Total|Total|
|Notes|£|funds£|funds£|fundsé|
|FIXED|ASSETS|
|Tangible|assets|12|71,234|38,394|109,628|155,353|
|CURRENT|ASSETS|
|Debtors|14|710,258|13,640|723,898|514,557|
|Investments|15|1,047,030|120,000|1,167,030|1,194,280|
|Cash|at|bank and|in|hand|34,656|183,591|218,247|208,981|
|1,791,944|317,231|2,109,175|1,917,818|
|CREDITORS|
|Amounts|falling due|within|one|year|16|(535,079)|(301,053)|(836,132)|(342,000)|
|NET CURRENT ASSETS|1,256,865|16,178|1,273,043|1,575,818|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|1,328,099|54,572|1,382,671|1,731,171|
|NET ASSETS|1,328,099|54,572|1,382,671|1,731,171|
|FUNDS|18|
|Unrestricted|funds|1,328,099|1,602,332|
|Restricted|funds|$4,572|128,839|
|TOTAL FUNDS|1,382,671|1,731,171|
----- End of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on sssisseessiassseesseseessseeeseesseseasereese ANd Were Signed on its behalf by:
J B Taylor - Trustee
The notes form part of these financial statements
ieee
14
RECYCLING LIVES CHARITY STATEMENT OF FINANCIAL POSITION 30 APRIL 2024
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|2024|2023|
|funds|Restricted|Total|Total|
|Notes|=|funds£|funds£|funds£|
|FIXED|ASSETS|
|Tangible|assets|12|12,824|-|12,824|14,765|
|Investments|13|100|-|100|100|
|12,924|-|12,924|14,865|
|CURRENT|ASSETS|
|Debtors|14|382,390|2,823|385,213|377,667|
|Investments|15|1,047,030|120,000|1,167,030|1,194,280|
|Cash|at bank|and|in hand|56,149|14,973|71,122|80,028|
|1,485,569|137,796|1,623,365|1,651,975|
|CREDITORS|
|Amounts|falling due within|one year|16|(66,589)|(120,000)|(186,589)|(30,534)|
|NET CURRENT ASSETS|1,418,980|17,796|1,436,776|1,621,441|
|TOTAL|ASSETS|LESS CURRENT|
|LIABILITIES|1,431,904|17,796|1,449,700|1,636,306|
|NET ASSETS|1,431,904|17,796|1,449,700|1,636,306|
|FUNDS|18|
|Unrestricted|funds|1,431,904|1,587,907|
|Restricted|funds|___17,796|=—_—48,399|
|TOTAL FUNDS|1,449,700|_1,636,306|
----- End of picture text -----
----- Start of picture text -----
The notes form part of these financial statements
ii
----- End of picture text -----
15
RECYCLING LIVES CHARITY
STATEMENT OF FINANCIAL POSITION- continued 30 APRIL 2024
The financial statements were approved by the Board of Trustees and authorised for issue on dsesssreatesseeecseeeecesesestensseeesseveese ad Were signed on its behalf by:
q JB oe ie[-] Truste
The notes form part of these financial statements
en
16
RECYCLING LIVES CHARITY
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2024|2023|
|Notes|£|£|
|Cash|flows|from|operating|activities|
|Cash|generated|from|operations|]|(37,449)|436,117|
|Interest|paid|2|(15)|
|Net cash|(used|in)/provided|by|operating|activities|(37,449)|436,102|
|Cash|flows|from|investing|activities|
|Purchase of tangible|fixed|assets|(23,304)|(22,868)|
|Interest|received|42,768|.|
|Purchase of current|asset|investments|(720,062)|(1,194,280)|
|Sale|of current|asset|investments|747,313|:|
|Net cash provided by/(used|in)|investing|activities|46,715|(1,217,148)|
|Cash|flows|from|financing|activities|
|Capital|repayments|in|year|-|(58,099)|
|Net cash|provided by/(used|in)|financing|activities|-|(58,099)|
|Change|in|cash|and|cash|equivalents|in|
|the reporting|period|9,266|(839,145)|
|Cash|and|cash|equivalents|at|the|
|beginning|of the|reporting period|208,981|1,048,126|
|Cash|and|cash|equivalents|at|the end|of|
|the reporting period|218,247|208,981|
----- End of picture text -----
The notes form part of these financial statements angiten
17
RECYCLING LIVES CHARITY
NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIESACTIVITIES | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net (expenditure)/income for the reportingperiod (as perthe | ||||
| Statement of Financial Activities) | (348,500) | 338,986 | ||
| Adjustments for: | ||||
| Depreciation charges | 69,028 | 91,774 | ||
| Loss on disposal offixed assets | . | 14,940 | ||
| Interestreceived | (42,768) | - | ||
| Interest paid | “ | 15 | ||
| (Increase)/decrease in debtors | (209,341) | 28,210 | ||
| Increase/(decrease) in creditors | 494,132 | (37,808) | ||
| Netcash (used in)/provided byoperations | (37,449) | 436,117 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 30.4.23 | Cash flow | At 30.4.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and inhand | 208,981 | 9,266 | 218,247 | |
| 208,981 | _9,.266 = __218,247 | |||
| Liquid resources | ||||
| Deposits included in cash Current asset investments |
2 _1,194,280 |
= 27,250) |
= _1,167,030 |
|
| 1,194,280 | (27,250) | 1,167,030 | ||
| Total | 1,403,261 | 17,984 | 1,385,277 |
The notes form part of these financial statements
ile
18
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared: under the historic cost convention; in accordance with the Statement of Recommended Practice — Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective January 1 2019 (second edition — October 2019); FRS 102; and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements combine the accounts of Recycling Live Charity and its trading subsidiary to 30 April 2024.
After considering the role of Recycling Lives Charity within the wider community (described on pages 1-5 of the annual report), and the trading performance of its subsidiary, the trustees have a reasonable expectation that Recycling Lives Charity has adequate resources and cash flows to meet its spending commitments for the foreseeable future.
In the opinion of the trustees, there is no material uncertainty regarding the charity’s ability to continue as a going concern. The trustees note the strong reserves and cash position of the charity, which are deemed sufficient to ensure the charity can continue to operate for the next 12 months.
Income
All income is recognised once the group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income:
Grants - whether of a capital or revenue nature, are recognised when the charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received.
Donations - from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.
Rendering of services - income derived from rendering services is recognised by reference to the completion of defined milestones. Income is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Deferred income
Income is only deferred and included in creditors when:
-
The income relates to a future accounting period
-
A sales invoice has been raised ahead of the work being carried out and there is no contractual entitlement to the income until the work has been done
-
Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded
Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds include those associated with fundraising activities, managing investments and commercial trading by the subsidiary company.
Charitable activities are costs of undertaking the work of the charity. The charity is not registered for VAT, and costs are stated inclusive of VAT where charged.
ee ee ee a eae ce Sea: eee
19
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
1. ACCOUNTING POLICIES - continued
Expenditure
The subsidiary is registered for VAT and is able to recover some of the input tax charged as it relates to VATable supplies. Costs are stated net of VAT where charged.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each assct over its estimated useful life.
Improvements to property - 25% on cost Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost Computer equipment - 25% on cost
Taxation
There is no liability to income tax in the subsidiary because it donates its taxable profits to the charity. The charity is exempt from income tax.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
All the financial instruments in these accounts are considered to be basic financial instruments.
Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
----- Start of picture text -----
2. DONATIONS AND LEGACIES
Group 2024 2023
£ £
Donations 153,146 240,941
Charity
2024 2023
£ £
Donations 16,553 618,952
----- End of picture text -----
----- Start of picture text -----
ittt meena
20 continued...
----- End of picture text -----
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
| 3. | INVESTMENT INCOME | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Deposit account interest | 42,768 | - | ||
| 4. | INCOMEFROM CHARITABLE ACTIVITIES | |||
| Group | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Workshops Food distribution |
1,127,967 290,629 |
1,006,056 339,131 |
||
| Café | 42,194 | 52,249 | ||
| Training kitchen | 14,521 | 27,277 | ||
| Rehabilitation Residential work |
390,097 43,890 |
395,838 14,522 |
||
| ACE | 109,595 | 194,497 | ||
| 2,018,893 | 2,029,570 | |||
| Charity | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Residential work | 43,890 | 14,522 | ||
| ACE Project | 109,595 | 194,497 | ||
| 153,485 | 209,019 | |||
| 5; | CHARITABLE ACTIVITIES COSTS | |||
| Group | Direct | Support | ||
| Costs (see | costs (see | |||
| note 6) | note 7) | Totals | ||
| £ | £ | £ | ||
| Workshops Food distribution |
905,727 413,026 |
931 5,064 |
906,658 418,090 |
|
| Cafe Kitchen training Rehabilitation Residential work |
74,333 72,336 560,156 149,730 |
- 33,669 20,165 17,576 |
74,333 106,005 580,321 167,306 |
|
| Other ACE |
52,514 131,900 |
372,449 9,117 |
424,963 141,017 |
|
| Bikes | - | 339 | 339 | |
| 2,359,722 | 459,310 | 2,819,032 |
ere
21
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
5. CHARITABLE ACTIVITIES COSTS - continued
Charity
| Direct | Support | ||
|---|---|---|---|
| Costs (see | costs (see | ||
| note 6) | note 7) | Totals | |
| £ | £ | £ | |
| Residential work | 150,281 | 17,026 | 167,307 |
| Other | 8,825 | 81,742 | 90,567 |
| ACE | 132,400 | 8,617 | 141,017 |
| Kitchen | 182 | - | 182 |
| Bikes | (61) | 400 | 339 |
| 291,627 | 107,785 | 399,412 | |
| DIRECT COSTSOFCHARITABLE ACTIVITIES | |||
| Group | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Staffcosts | 1,546,650 | 1,341,499 | |
| Direct activity costs Officerunning costs |
682,493 142,643 |
652,508 97,835 |
|
| Bad debt | (12,064) | 18,098 | |
| 2,359,722 | 2,109,940 |
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
Charity
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Staffcosts | 207,112 | 200,426 |
| Rates andwater Insurance Transportcosts Repairs andcleaning Residential costs |
3,385 3,264 6,136 59 69,036 |
58,264 2,938 3,841 159 29,348 |
| Sundries | 2,635 | epeeI |
| 291,627 | 294,976 |
acementI
22
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
Je SUPPORT COSTS
|Group|Support
salaries|Other
costs|Depreciation
costs||Governance
costs|Totals|
|---|---|---|---|---|---|
||£|£|$|£|£|
|Workshops
Food distribution|31
-|900
(114)|-
5,178|-
-|931
5,064|
|Kitchen training|-|182|33,487|-|33,669|
|Rehabilitation
Residential work|-
-|(892)
1,939|17,807
1,666|3,250
13,971|20,165
17,576|
|Other
ACE|218,883
-|12,423
607|10,615
275|130,528
8,235|372,449
9,117|
|Bikes|-|339|-|-|339|
||218,914|15,384|69,028|155,984|459,310|
Support costs are allocated on the following basis: Staff salaries on estimate of time spent; all other costs on basis of use of resources.
| Governance | costs | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Professional | and legal fees | 155,984 | 79,729 |
| 155,984 | 79,729 |
Charity
||Other
costs
£|Depreciation |Governance
costs
costs
£
£|Totals
£|
|---|---|---|---|
|Residential work
Other
ACE
Bikes|1,389
4,199
107
400|1,666
13,971
-
77,543
275
8,235
a
_|17,026
81,742
8,617
400|
||6095|19199749107,785||
|Governance costs||2024|2023|
|||£|£|
|Professional and legal fees||_99,749|___47,583|
|||23,149|47,583|
ena renee 23 continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
- NET INCOME/(EXPENDITURE)
Group
Net income/(expenditure) is stated after charging/(crediting):
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Auditor's|remuneration|4,800|4,800|
|Depreciation|-|owned|assets|69,029|91,774|
|Deficit on|disposal|of fixed|assets|-|14,940|
|Operating|lease|rentals|2,515|2,855|
|Auditor's remuneration|- accountancy|fees|4,100|4,100|
|Charity|
|Net|income/(expenditure)|is|stated|after|charging/(crediting):|
|2024|2023|
|£|£|
|Auditor's|remuneration|4,800|4,800|
|Depreciation|- owned|assets|1,941|1,782|
----- End of picture text -----
9. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' expenses
There were no trustees’ expenses paid for the period 30 April 2023 to 30 April 2024 nor for the year ended 29 April 2023.
Trustee’s remuneration
JB Taylor was paid £25,500 during the year for IT consultancy services provided.
Ee ec a a a ea
24
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
| 10. | STAFF COSTS | ||
|---|---|---|---|
| a) Employees | 2024 | 2023 | |
| £ | £ | ||
| Salariesandwages | 1,595,391 | 1,336,688 | |
| Pension costs - money purchase | 31,076 | 27,972 | |
| Employer's NI contributions | 137,800 | 119,779 | |
| 1,764,267 | 1,484,439 | ||
| Staffcosts forthetrading subsidiary included above | 1,556,657 | 1,284,013 | |
| b) Employees earning more than £60,000 | Number | Number | |
| £80,000 - £90,000 | 1 | 1 | |
| c)Thekey management ofthegroup comprise the trustees and senior staff (as | staff (as set outonpage 4). | ||
| The trusteesdo not receive any remuneration for their services. | |||
| £ | £ | ||
| The total employee benefits ofotherkey management were as follows: | 357,158 | 248,652 | |
| d) Average staffnumbers | |||
| Theaveragenumberofemployeesreferredtoabove,wasasfollows:- | 2024 | 2023 | |
| Charity Trading subsidiary |
7 55 |
d __48 |
|
| 62 | 55 |
aet 25 continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|11.|COMPARATIVES|FOR THE|STATEMENT OF FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|219,604|21,337|240,941|
|Charitable|activities|
|Workshops|1,006,056|-|1,006,056|
|Food|distribution|314,131|25,000|339,131|
|Cafe|52,249|-|52,249|
|Kitchen|training|1,579|25,698|27,211|
|Rehabilitation|80,984|314,854|395,838|
|Residential|work|14,522|-|14,522|
|ACE|:|194,497|194,497|
|Social|value|402,591|-|402,591|
|Total|2,091,716|581,386|2,673,102|
|EXPENDITURE|ON|
|Charitable|activities|
|Workshops|920,425|(5,000)|915,425|
|Food|distribution|358,585|$0,413|408,998|
|Cafe|85,552|-|85,552|
|Kitchen|training|4,875|43,479|48,354|
|Rehabilitation|256,947|314,854|571,801|
|Residential|work|112,614|-|112,614|
|Other|158,969|-|158,969|
|ACE|-|146,098|146,098|
|Other|(113,695)|-|(113,695)|
|Total|1,784,272|549,844|2,334,116|
|NET INCOME|307,444|31,542|338,986|
|Transfers|between|funds|5,482|(5,482)|-|
|Net|movement|in|funds|312,926|26,060|338,986|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|
|As previously|reported|1,289,406|5,482|1,294,888|
|Prior year adjustment|-|97,297|97,297|
|As|restated|1,289,406|102,779|1,392,185|
|TOTAL FUNDS CARRIED FORWARD|1,602,332|_! 28,839|7317|
----- End of picture text -----
pal rn ee a ee 26 continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
- TANGIBLE FIXED ASSETS
Group
| Group | |||||
|---|---|---|---|---|---|
| Improvements | Fixtures | ||||
| to property |
and fittings |
Motor vehicles |
Computer equipment |
Totals | |
| £ | £ | £ | £ | £ | |
| COST | |||||
| At 30 April 2023 | 3,610 | 237,272 | 96,726 | 26,978 | 364,586 |
| Additions Disposals |
- - |
22,189 (1,116) |
- - |
1,115 - |
23,304 (1,116) |
| At 30 April 2024 | 3,610 | 258,345 | 96,726 | 28,093 | 386,774 |
| DEPRECIATION | |||||
| At 30 April 2023 | 3,610 | 127,115 | 62,450 | 16,058 | 209,233 |
| Charge foryear | - | 43,429 | 22,021 | 3,579 | 69,029 |
| Eliminated on disposal | - | (1,116) | - | - | (1,116) |
| At 30 April 2024 | 3,610 | 169,428 | 84,471 | 19,637 | 277,146 |
| NET BOOK VALUE | |||||
| At 30 April 2024 | - | 88,917 | 12,255 | 8,456 | 109,628 |
| At29 April 2023 | - | 110,157 | 34,276 | 10,920 | 155,353 |
| Charity | |||||
| Improvements to property |
Fixtures and fittings |
Motor vehicles |
Computer equipment |
Totals | |
| £ | £ | £ | £ | £ | |
| COST | |||||
| At 30 April 2023 and | |||||
| 30 April 2024 | 3,610 | 50,855 | 1,800 | 6,734 | 62,999 |
| DEPRECIATION | |||||
| At 30 April 2023 Charge foryear |
3,610 - |
36,090 1,941 |
1,800 - |
6,734 _ |
48,234 _1,941 |
| At30 April2024 | 3,610 | 38,031 | 1,800 | 6,734 | 50,175 |
| NETBOOKVALUE | |||||
| At 30 April2024 | - | 12,824 | - | eee | 12,824 |
| At29April2023 | = | 14,765 | = | - | 14,765 |
ai
continued...
- FIXED ASSET INVESTMENTS
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Shares|in|
|group|
|undertakings|
|£|
|COST|LESS|IMPAIRMENT|
|At|30|April|2023|and 30|April|2024|100|
|NET BOOK VALUE|
|At|30|April|2024|100|
|At 29|April|2023|100|
----- End of picture text -----
There were no investment assets outside the UK.
- DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Group|2024|2023|
|£|£|
|Trade|debtors|301,610|85,393|
|Grants and|income|receivable|312,550|400,750|
|Prepayments|109,738|28,414|
|723,898|314,557|
|Charity|2024|2023|
|£|£|
|Trade|debtors|1,500|-|
|Amounts owed by group|undertakings|379,576|366,035|
|Grants|and income|receivable|-|6,307|
|VAT|-|181|
|Prepayments and accrued|income|4,137|5,144|
|385,213|377,667|
|15.|CURRENT|ASSET|INVESTMENTS|
|Group|2024|2023|
|£|£|
|Short term deposits|1,167,030|1,194,280|
|Charity|
|2024|2023|
|£|£|
|Short term deposits|1.167.030|__1,194,280|
----- End of picture text -----
NN
28
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
16. .CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
| Group | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors | 157,817 | 26,552 | |
| Social security and other taxes | 34,662 | 33,130 | |
| VAT | 75,926 | 68,700 | |
| Other creditors | 129,125 | 36,097 | |
| Accrued expenses and deferred income | 436,197 | 177,521 | |
| Deferred capital grants | 2,405 | - | |
| 836,132 | 342,000 | ||
| Charity | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts | 14,973 | - | |
| Trade creditors | 6,311 | 3,788 | |
| Social security and other taxes | 4,184 | 6,403 | |
| Other creditors | 4,808 | 6,494 | |
| Accrued expenses | 156,313 | 13,849 | |
| 186,589 | 30,534 | ||
| 17. | LEASING AGREEMENTS | ||
| Group | |||
| Minimum leasepayments under non-cancellable operating leases falldue as follows: | |||
| 2024 | 2023 | ||
| z | £ | ||
| Within oneyear | 36,553 | 96,136 | |
| Between one and fiveyears | 14,375 | 270,928 | |
| In more than five years | - | 165,000 | |
| 50,928 | 532,064 |
The above figures exclude service charges.
ent em rnp nen NS i i it
29
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024 ee aWa a a cere 17. LEASING AGREEMENTS -— continued
Included in the above are commitments that arise under a formal lease between the Charity and Recycling Lives Ltd (RLL), for the accommodation space at the registered office. The relevant figures are as follows:
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2024|2023|
|¢|£|
|Due|within|one|year|-|55,000|
|Due within|2|to|5|years|-|220,000|
|Due|in|more|than|5|years|-|165,000|
|-|440,000|
----- End of picture text -----
There was a formal lease between the Charity and Recycling Lives Ltd (RLL), for the accommodation space at the registered office. This was made for two floors of residential space.
Following the administration of RLL, there is no longer a formal lease commitment. The property is occupied under the same terms but an updated lease has not yet been finalised, and there is therefore no contractual commitment at the year end date.
- MOVEMENT IN FUNDS
Group
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Net|Transfers|
|At|movement|between|At|
|30.4.23|in funds|funds|30.4.24|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|1,602,332|(273,914)|(319)|1,328,099|
|Restricted|funds|
|Capital|Donation|-|New|Kitchen|61,506|(32,468)|-|29,038|
|ASDA|-Capital|13,934|(5,178)|-|8,756|
|Lancashire & Cumbria|Core|5,000|(5,000)|-|-|
|ACE|48,399|(31,621)|-|16,778|
|Bikes|-|(319)|319|-|
|128,839|(74,586)|319|$4,572|
|TOTAL FUNDS|1,731,171|(348,500)|-|1,382,671|
----- End of picture text -----
30
continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,965,056|(2,238,970)|(273,914)|
|Restricted|funds|
|Albert Gubay|30,827|(30,827)|-|
|Capital|Donation|- New|Kitchen|1,201|(33,669)|(32,468)|
|Vinci|30,000|(30,000)|-|
|ASDA|-Capital|-|(5,178)|(5,178)|
|Lancashire &|Cumbria Core|162,025|(167,025)|(5,000)|
|TNLCF|(The|National|Lottery|Charity|
|Fund)|73,456|(73,456)|-|
|Placements|17,807|(17,807)|-|
|ACE|109,396|(141,017)|(31,621)|
|Training|5,975|(5,975)|-|
|Wates|67,561|(67,561)|-|
|Fareshare|7,208|(7,208)|-|
|Bikes|20|(339)|(319)|
|505,476|(580,062)|(74,586)|
|TOTAL FUNDS|2,470,532|(2,819,032)|(348,500)|
|Comparatives|for movement|in|funds|
|Prior|Net|Transfers|
|At|year|movement|between|At|
|30.4.22|adjustment|in|funds|funds|29.4.23|
|£|£|£|£|£|
|Unrestricted|funds|
|General|fund|1,289,406|-|307,444|5,482|1,602,332|
|Restricted|funds|
|Capital|Donation|- New|
|Kitchen|-|.|79,287|(17,781)|-|61,506|
|Selnet|$482|-|-|(5,482)|-|
|ASDA|-Capital|a|18,010|(4,076)|-|13,934|
|Lancashire|&|Cumbria|
|Core|-|-|5,000|-|5,000|
|ACE|.|-|48,399|-|48,399|
|5,482|97,297|31,542|5,482|__ 128,839|
|TOTAL FUNDS|1,294,888|97,297|338,986|pe|aS|1,731,171|
----- End of picture text -----
a en ee I a 31
er continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
e e De
e
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|2,091,716|(1,784,272)|307,444|
|Restricted|funds|
|Albert Gubay|24,673|(24,673)|-|
|Capital|Donation|- New|Kitchen|-|(17,781)|(17,781)|
|Vinci|30,000|(30,000)|-|
|Selnet|57,258|(57,258)|-|
|ASDA|-Capital|-|(4,076)|(4,076)|
|Lancashire & Cumbria Core|130,721|(125,721)|5,000|
|TNLCF|(The National|Lottery|Charity|
|Fund)|77,449|(77.449)|-|
|Placements|19,426|(19,426)|-|
|ACE|194,497|(146,098)|48,399|
|Training|1,025|(1,025)|-|
|Fareshare|46,337|(46,337)|-|
|581,386|(549,844)|31,542|
|TOTAL FUNDS|2,673,102|(2,334.1|16)|338,986|
|Charity|
|Net|Transfers|
|movement|between|At|
|At|30.4.23|in|funds|funds|30.4.24|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|1,587,907|(155,684)|(319)|1,431,904|
|Restricted|funds|
|Soup kitchen|-|1,018|-|1,018|
|ACE|48,399|(31,621)|-|16,778|
|Bikes|-|(319)|319|-|
|48,399|(30,922)|319|17,796|
|TOTAL FUNDS|1,636,306|(186,606)|-|1,449,700|
----- End of picture text -----
aeee 32 continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
c nn hela i
gera
- MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|102,190|(257,874)|(155,684)|
|Restricted|funds|
|Soup kitchen|1,200|(182)|1,018|
|ACE|109,396|(141,017)|(31,621)|
|Bikes|20|(339)|(319)|
|110,616|(141,538)|(30,922)|
|TOTAL FUNDS|212,806|(399,412)|(186,606)|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|30.4.22|in|funds|29.4.23|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,155,400|432,507|1,587,907|
|Restricted|funds|
|ACE|-|48,399|48,399|
|TOTAL FUNDS|1,155,400|480,906|1,636,306|
|Comparative net movement|in|funds,|included|in|the above are as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|&|
|Unrestricted|funds|
|General|fund|633,474|(200,967)|432,507|
|Restricted|funds|
|ACE|194,497|(146,098)|48,399|
|TOTAL FUNDS|827,971|347,065)|480,906|
----- End of picture text -----
I 33 continued...
RECYCLING LIVES CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024
19. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Net|Transfers|
|movement|between|At|
|At|30.4.22|in|funds|funds|30.4.24|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|1,155,400|276,823|(319)|1,431,904|
|Restricted|funds|
|Soup|kitchen|-|1,018|-|1,018|
|ACE|-|16,778|-|16,778|
|Bikes|:|(319)|319|-|
|-|17,477|319|17,796|
|TOTAL FUNDS|1,155,400|294,300|-|1,449,700|
----- End of picture text -----
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|735,664|(458,841)|276,823|
|Restricted|funds|
|Soup|kitchen|1,200|(182)|1,018|
|ACE|303,893|(287,115)|16,778|
|Bikes|20|(339)|(319)|
|305,113|(287,636)|17,477|
|TOTAL FUNDS|1,040,777|(746,477)|294,300|
----- End of picture text -----
- RELATED PARTY DISCLOSURES
Charity and subsidiary
At 30th April 2024 the subsidiary Recycling Lives (Social Enterprise) Limited owed to the parent charitable company £379,576 (2023 - £366,035). The amount is non-interest bearing and unsecured.
ner
34