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2025-04-30-accounts

REGISTERED COMPANY NUMBER: 05781363 (England and Wales) REGISTERED CHARITY NUMBER: 1116562

Recycling Lives Charity

Annual report and consolidated financial statements For the year ended 30 April 2025

RECYCLING LIVES CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 APRIL 2025

Page Page
Chairman's Report 1 to 3
Report of the Trustees 4 to 9
Report of the Independent Auditors 10 to 12
Consolidated Statement of Financial Activities 13
Charity Statement of Financial Activities 14
Consolidated Balance Sheet 15
Charity Balance Sheet 16
Consolidated Statement of Cash Flows 17
Notes to the Consolidated Statement of Cash Flows 18
Notes to the Consolidated Financial Statements 19 to 35

RECYCLING LIVES CHARITY

CHAIRMAN'S REPORT FOR THE YEAR TO 30 APRIL 2025

A MESSAGE FROM THE CHAIRMAN

This has been one of the most significant and, at times, testing periods in the charity’s recent history. And yet, in many ways, it is also the year that I am most proud of — not because of the difficulties we faced, but because of how this organisation responded to them.

The work we do — supporting people leaving custody, feeding families across Lancashire and Cumbria, providing training and mentoring to those who need it most — does not pause when the financial environment becomes difficult. Our beneficiaries’ needs do not diminish when funding becomes scarce. That reality drove every decision the trustees made during this period, and it is the lens through which I would ask you to read this report.

The year to 30 April 2025 brought real challenges: a significant operating deficit, the partial restructuring of our largest commercial partner, rising employer costs, a funding landscape that grew more competitive by the month and the search for a new CEO. These are not problems that appeared or have disappeared overnight, and they are not problems we shied away from. The trustees took deliberate, considered decisions to use our reserves where needed — to protect our people and preserve our programmes — while simultaneously investing our energy in building a more resilient and diversified future.

At the same time, the impact of our work — the numbers that matter most — remained outstanding. More than 200 people supported through rehabilitation. Over 63% of those released going on to find and keep employment. More than 1.26 million tonnes of food diverted from waste. Over three million meals delivered. 190 people gaining accredited qualifications. These are extraordinary results, and they are a direct reflection of the people who work here and volunteer alongside us every single day.

A YEAR OF REAL CHALLENGE: 2024-25

What the numbers tell us

The Group recorded a deficit of £622,838 for the year (compared to a deficit of £499,189 the year prior), and the charity itself recorded a deficit of £385,501 (compared to a deficit of £186,606). These are significant negative values, which continued into the following year, and they deserve explanation rather than minimisation.

Three factors combined to create this position. First, general operating costs continued to rise, with the new Employers’ National Insurance changes adding meaningful pressure to our cost base from April 2025. Second, the funding environment remained intensely competitive, with many grants we had reasonably expected either reduced or not renewed. Third, and most significantly, the relationship with Recycling Lives Services Limited (RLS) — our largest commercial partner for recycling workshop activity — materially affected our income from that source for the calendar year 2025.

The trustees’ decision was clear: we would not cut programmes, and we would not reduce services to our beneficiaries. We drew on our reserves — consciously and deliberately — to hold the line while we worked to build a more sustainable position.

What our people delivered

Against this financial backdrop, the team’s delivery was exceptional:

1

RECYCLING LIVES CHARITY

CHAIRMAN'S REPORT FOR THE YEAR TO 30 APRIL 2025

These results are a source of immense pride. They are also a reminder of why protecting this organisation’s financial sustainability is not an abstract governance concern — it is a direct responsibility to the people who depend on what we do.

TAKING STOCK: THE TRANSITION INTO 2025-26

A new CEO and a fresh lens on the finances

In July 2025, the charity welcomed Victoria Blakeman as its new Chief Executive Officer. Her appointment marked an important moment — not a change of direction, but an opportunity to look at the organisation with fresh eyes and with the rigour that a challenging financial period demands.

One of Victoria’s first priorities was to work closely with the trustees on a deep dive into the charity’s accounts. We wanted to understand, clearly and honestly, what was driving the depletion of reserves — not just the headline numbers, but the underlying dynamics: which programmes were self-sustaining, where income had become structurally dependent on a single partner, and where costs had grown faster than funding.

That process was not comfortable, but it was essential. It gave us a shared, evidence-based understanding of the pressures the charity faced, and it became the foundation for every strategic decision that followed. The trustees are grateful to Victoria and the team for approaching this with transparency and with a genuine commitment to getting it right.

Renegotiating with Recycling Lives Services

A central strand of the work in this period was an extended and at times demanding renegotiation with Recycling Lives Services Limited (RLS) — the successor entity to our historically largest commercial partner. The previous arrangements had developed organically over many years, and the terms had not kept pace with the charity’s true costs of delivery.

We approached those renegotiations with a clear objective: to ensure that the commercial terms properly reflected the value the charity delivers, and that we were not, in effect, subsidising commercial activity from charitable reserves. Those discussions took time and required careful management, but they have resulted in a more equitable and sustainable arrangement, effective calendar year 2026 — one that appropriately values the charity’s contribution.

Alongside this, we have substantially reduced our concentration risk by bringing on new commercial partners. Global Ardour Recycling, Baxi, Suez and new partnership arrangements are soon to become operational and further discussions are underway. The reliance on any single commercial relationship that characterised our previous position has been significantly and deliberately reduced.

The bridge to where we are now

The renegotiations, the accounts review, and the new partnerships together represent the foundation of a more resilient operating model. The work was not glamorous, and it did not generate headlines. But it was the right work to do, and it has positioned the charity to move forward from a place of clarity rather than uncertainty.

The strategic report that follows this message sets out in full the direction of travel: the diversified academy model, the MoJ sub-contracting opportunity, the NEET pilot, the accredited training ambitions, and the wrap-around support offer. All of that work builds on the foundation laid during this transition period.

2

RECYCLING LIVES CHARITY

CHAIRMAN'S REPORT

FOR THE YEAR TO 30 APRIL 2025

THE ROAD AHEAD

The year ahead will not be without challenge. We have set ourselves a demanding budget, and we are realistic about the environment in which we are operating. The criminal justice system remains under significant pressure. The cost of living continues to affect the people we serve. Statutory funding for the voluntary sector is not expanding.

And yet I am genuinely optimistic. The clarity we now have about our cost base and our income mix, the quality of the leadership team around Victoria, the new partnerships we have built, and the growing reputation of our programmes with commissioners and funders — all of this gives me confidence that the trajectory is the right one.

We are positioning the charity as a specialist sub-contractor within the MoJ’s rehabilitative supply chain — a deliberate and proportionate decision that plays to our genuine strengths. We are piloting a new NEET programme with Preston City Council, with the first delivery expected in mid 2026 and conversations already underway with Blackpool Council. We are working toward accredited training centre status, which will open access to Adult Skills Fund monies and strengthen our offer to employers and commissioners. And we have soft-launched an externally marketed wrap-around support package through the New Futures Network — one that has already attracted interest from large national infrastructure businesses seeking genuine social value.

Alongside this, the charity will be rebranded in the summer of 2026 such that its name better reflects its broadened constituencies and stakeholders.

None of this happened by accident. It is the result of clear thinking, careful governance, and a team that refused to be defined by a financially difficult couple of years.

WITH GRATITUDE

I want to close with a straightforward and sincere thank you — to everyone who has played a part in this organisation’s story during this period.

To our staff: the commitment, creativity and compassion you bring to work every day is what makes this charity what it is. A difficult year financially did not diminish your dedication to the people you serve, and that has not gone unnoticed by the trustees.

To our volunteers: over 100 of you gave your time freely, and that generosity ripples out far beyond what any budget line could capture. The fact that 14 of our volunteers went on to find employment this year is a story in itself.

To our partners — both long-standing and new — thank you for believing in what we do and choosing to work alongside us. The relationships we are building with Global Ardour, Suez, Supreme, and others are the foundation of our next chapter.

To our funders — the National Lottery, the Albert Gubay Foundation, Fareshare, Felix, and the many others who support our work — your trust means everything to us, and we take the responsibility of it seriously.

And to my fellow trustees: thank you for your time, your challenge, and your unwavering focus on doing the right thing for this charity and the people it exists to serve.

J B Taylor - Chairman

3

RECYCLING LIVES CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR TO 30 APRIL 2025

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 year to 30 April 2025. 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 Charities 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 of unemployment in such ways as may be thought fit, including assistance to find employment;

1.3 the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;

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;

1.5 the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use on favourable terms;

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;

1.7 the maintenance, improvement or provision of public amenities;

1.8 the preservation of buildings or sites of historic or architectural importance;

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;

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RECYCLING LIVES CHARITY

REPORT OF THE TRUSTEES

FOR THE YEAR TO 30 APRIL 2025

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.

OBJECTIVES AND ACTIVITIES

Activities

The charity undertakes the following activities either itself of through its subsidiary company in pursuit of its objectives:

STRATEGIC REPORT

Achievement and performance Charitable activities

Detail relating to the charitable activities undertaken during the year are stated in the Chairman's Report on page 1.

Financial review

Overview

The Group made a deficit for the year of £622,838 (2024: deficit - £499,189) and the charity had a deficit of £385,501 (2024: deficit - £186,606).

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, 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.

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). During the previous financial year, the RLL situation changed which meant the arrangemen 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 30 April 2025, the charity's free reserves were £238,953 (2024: £931,904). The trustees have designated up to £500,000 of the reserves above the target level for new projects and growth.

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RECYCLING LIVES CHARITY

REPORT OF THE TRUSTEES

FOR THE YEAR TO 30 APRIL 2025

STRATEGIC REPORT (continued)

Going concern

In the opinion of the trustees, there is no material uncertainty regarding the charity’s ability to continue as a going concern. The trustees have reviewed cashflow forecasts and have concluded that the charity has sufficient reserves to continue in operation 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.

Future plans

Future plans for the Group are detailed in the Chairman's Report on page 3.

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 13 April 2006, as amended by special resolution dated 4 July 2006 and further amended by special resolution dated 24 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 served 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.

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RECYCLING LIVES CHARITY

REPORT OF THE TRUSTEES

FOR THE YEAR TO 30 APRIL 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) 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 each year.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05781363 (England and Wales)

Registered Charity number

1116562

Registered office

Recycling Lives Centre 1a Essex Street Preston PR1 1QE

Trustees

J B Taylor D Snape B J Mayne (resigned 01/06/2025) C Jackson N J Whittle C Whalley-Hunter

Auditors

DJH Audit Limited Accountants Statutory Auditors The Exchange 5 Bank Street Bury BL9 0DN

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RECYCLING LIVES CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR TO 30 APRIL 2025

REFERENCE AND ADMINISTRATIVE DETAILS (continued) Senior Management Team

*Alasdair Bruce Jackson (resigned 30/06/2025)

*Victoria Blakeman (appointed 01/07/2025)

*T R Carysforth

S Collins R Thackray N Flanagan K Walmsley Laura Hodson G Welsh F McManus D Pearson

Solicitors

Brabners LLP 55 King Street Manchester M2 4LQ

Bankers

Barclays Bank 38 Fishergate Preston PR1 2AD

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

8

RECYCLING LIVES CHARITY

REPORT OF THE TRUSTEES

FOR THE YEAR TO 30 APRIL 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES (continued)

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.

In so far as the trustees are aware:

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 directors, on…................... and signed on the board's behalf by:29 April 2026

J B Taylor - Trustee

9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RECYCLING LIVES CHARITY

Opinion

We have audited the financial statements of Recycling Lives Charity (the 'parent charitable company') and its subsidiary (the ‘group’) for the year to 30 April 2025 which comprise the consolidated Statement of Financial Activities, the parent charitable company Statement of Financial Activities, the group and parent charitable company Balance Sheet, 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:

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' responsibilities 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 believe 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 so, 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

10

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:

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 enable 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 concern, disclosing, as applicable, matters related to going concern and using the going concern 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.

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:

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

11

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF RECYCLING LIVES CHARITY

Our responsibilities for the audit of the financial statements continued

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.

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 0DN

Date: 29 April 2026

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RECYCLING LIVES CHARITY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 30 APRIL 2025

Notes
Income and endowments from
Donations and legacies
2
Charitable activities
4
Workshops
Food distribution
Cafe
Kitchen training
Rehabilitation
Residential work
ACE
Social value
Investment income
3
Total
Expenditure on
Charitable activities
5
Workshops
Food distribution
Cafe
Kitchen training
Rehabilitation
Residential work
Other
ACE
Bikes
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Prior period adjustment
21
As restated
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
Restricted
funds
2025
Total
funds
2024
Total
funds (As
restated)
£
£
£
£
159,249
101,563260,812
153,146
1,061,123
3,4851,064,608
1,127,967
449,154
17,754466,908
290,629
67,712
4,933
72,645
42,194
- 14,011
14,011
14,521
27,510
309,917337,428
390,097
- 56,970
56,970
43,890
- 61,820
61,820
109,595
209,126
-209,126
105,036
44,967
-44,967
42,768
2,018,840
570,4532,589,294
2,319,843
1,099,475
25,793
1,125,269
906,658
510,650
15,204
525,854
418,090
84,856
5,143
89,999
74,333
13,751
88,674
102,425
106,005
386,695
426,347
813,042
580,321
37,692
205,901
243,593
167,306
103,335
6,754
110,089
424,963
38,248
163,613
201,861
141,017
-
-
-
339
2,274,701
937,430
3,212,132
2,819,032
(255,861)
(366,977)
(622,838)
(499,189)
(353,553)
353,553
-
-
(609,414)
(13,424)
(622,838)
(499,189)
1,328,099
54,572
1,382,671
1,731,171
(312,550)
-
(312,550)
(161,861)
1,015,549
54,572
1,070,121
1,569,310
406,135
41,148
447,283
1,070,121

The notes form part of these financial statements

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RECYCLING LIVES CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 30 APRIL 2025

Notes
Income and endowments from
Donations and legacies
2
Charitable activities
4
Rehabilitation
Residential work
ACE
Investment income
3
Total
Expenditure on
Charitable activities
5
Rehabilitation
Residential work
Other
ACE
Kitchen
Bikes
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
Restricted
funds
2025
Total
funds
2024
Total
funds
£
£
£
£
73,046
84,015
157,061
16,553
- 174,899
174,899
-
- 56,970
56,970
43,890
- 61,820
61,820
109,595
44,967
-
44,967
42,768
118,013
377,704
495,717
212,806
111,726
301,838
413,564
-
37,692
205,901
243,593
167,307
230
1,576
1,806
90,567
38,248
163,613
201,861
141,017
7,967
12,427
20,394
182
-
-
-339
195,863
685,355
881,218
399,412
(77,850)
(307,651)
(385,501)
(186,606)
(309,855)
309,855
-
-
(387,705)
2,204
(385,501)
(186,606)
1,431,904
17,796
1,449,700
1,636,306
1,044,199
20,000
1,064,199
1,449,700

The notes form part of these financial statements

14

RECYCLING LIVES CHARITY

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 ARPIL 2025

30 ARPIL 2025
Unrestricted
funds		 Restricted
funds		 2025 Total
funds		 2024 Total
funds (As
restated)
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 167,182 21,148 188,330 109,628
CURRENT ASSETS
Debtors 14 336,406 20,000 356,406 411,348
Investments 15 263,321 192,072 455,393 1,167,030
Cash at bank and in hand 89,544 28,811 118,354 218,247
CREDITORS 689,270 240,883 930,153 1,796,625
Amounts falling due within one year 16 (450,317) (220,883) (671,200) (836,132)
NET CURRENT ASSETS 238,953 20,000 258,953 960,493
TOTAL ASSETS LESS CURRENT
LIABILITIES 406,135 41,148 447,283 1,070,121
NET ASSETS 406,135 41,148 447,283 1,070,121
FUNDS 18
Unrestricted funds 406,135 1,015,549
Restricted funds 41,148 54,572
TOTAL FUNDS 447,283 1,070,121

The financial statements were approved by the Board of Trustees and authorised for issue on…...............29 April 2026 and were signed on its behalf by:

J B Taylor - Trustee

The notes form part of these financial statements

15

RECYCLING LIVES CHARITY STATEMENT OF FINANCIAL POSITION 30 ARPIL 2025

30 ARPIL 2025
Unrestricted
funds		 Restricted
funds		 2025
Total
funds		 2024
Total
funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 11,443 - 11,443 12,824
Investments 13 100 - 100 100
CURRENT ASSETS 11,543 - 11,543 12,924
Debtors 14 794,549 20,000 814,549 385,213
Investments 15 263,321 192,072 455,393 1,167,030
Cash at bank and in hand 46,898 - 46,898 71,122
CREDITORS 1,104,767 212,072 1,316,840 1,623,365
Amounts falling due within one year 16 (72,111) (192,072) (264,183) (186,589)
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT		 1,032,657 20,000 1,052,657 1,436,776
LIABILITIES 1,044,199 20,000 1,064,199 1,449,700
NET ASSETS 1,044,199 20,000 1,064,199 1,449,700
FUNDS 18
Unrestricted funds 1,044,199 1,431,904
Restricted funds 20,000 17,796
TOTAL FUNDS 1,064,199 1,449,700

The financial statements were approved by the Board of Trustees and authorised for issue on…..............29 April 2026 and were signed on its behalf by:

J B Taylor - Trustee

The notes form part of these financial statements

16

RECYCLING LIVES CHARITY

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR TO 30 APRIL 2025

Notes
Cash flows from operating activities
Cash generated from operations
A
Interest paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Purchase of current asset investments
Sale of current asset investments
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Capital repayments in year
Net cash provided by/(used in) financing activities
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period
Change in cash and cash equivalents in
the reporting period		 2025
£
(691,605)
-
(691,605)
(164,891)
44,967
(215,682)
927,318
591,712
-
-
(99,894)
218,247
118,354		 2024 (As
restated)
£
(37,449)
-
(37,449)
(23,304)
42,768
(720,062)
747,313
46,715
-
-
9,266
208,981
218,247

17

RECYCLING LIVES CHARITY

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR TO 30 APRIL 2025

A. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES


OPERATING ACTIVITIES
2025 2024 (As
£ restated)
£
Net (expenditure)/income for the reporting period (as
per the Statement of Financial Activities)		 (622,838) (348,500)
Adjustments for:
Depreciation charges 78,633 69,028
Loss on disposal of fixed assets 13,831 -
Interest received (44,967) (42,768)
Interest paid - -
(Increase)/decrease in debtors 54,942 (209,341)
Increase/(decrease) in creditors
Net cash (used in)/provided by operations		 (171,207)
(691,605)		 494,132
(37,449)
B. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand		 At 01.05.24
(As restated)
£
218,247
218,247		 Cash flow
£
(99,893)
(99,893)		 At 30.4.25
£
118,354
118,354
Liquid resources
Deposits included in cash
Current asset investments		 -
1,167,030
1,167,030		 -
(711,637)
(711,637)		 -
455,393
455,393
Total 1,385,277 (811,530) 573,747

The notes form part of these financial statements

18

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 APRIL 2025

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 2025.

The group has recorded a sizeable deficit for the year (£622,838) and, since the year end, has noted a further depletion of reserves.

As detailed further in the Chairman’s report, the group has taken action to address the underlying factors which have contributed to the deficits and the trustees are now confident that the group is well placed to move forward with a resilient operating model.

A cashflow forecast has been prepared for the next 12 month period which indicates that, with new partnership agreements in place, the group has sufficient resources to continue in operational existence. The trustees have critically reviewed the forecasts and have discounted the benefit of any pipeline funding, which may result in additional funds being available.

Whilst the trustees acknowledge that the year ahead will not be without challenge, having considered all relevant risks, they remain satisfied that the group is a going concern and that the financial statements are correctly prepared on this basis.

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:

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.

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.

19

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

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 asset 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.

2. DONATIONS AND LEGACIES

----- Start of picture text -----
2024 (As
Group 2025
restated)
£ £
Donations 260,812 153,146
Charity 2025 2024
£ £
Donations 157,061 16,553
----- End of picture text -----

20

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

3. INVESTMENT INCOME
Group 2025
2024 (As
restated)
£
£
Deposit account interest 44,967
42,768
Charity
Deposit account interest		 2025
2024
£
£
44,967
42,768
4. INCOME FROM CHARITABLE ACTIVITIES
Group
Workshops
Food distribution
Café
Training kitchen
Rehabilitation
Residential work
ACE
Social value		 2025
2024 (As
restated)
£
£
1,064,608
1,127,967
466,908
290,629
72,645
42,194
14,011
14,521
337,428
390,097
56,970
43,890
61,820
109,595
209,126
105,036
2,283,515
2,123,929
Charity
Rehabilitation
Residential work
ACE Project		 2025
2024
£
£
174,899
-
56,970
43,890
61,820
109,595
293,689
153,485
5. CHARITABLE ACTIVITIES COSTS
Group
Workshops
Food distribution
Cafe
Kitchen training
Rehabilitation
Residential work
Other
ACE
Bikes		 Direct
Costs (see
note 6)
£
1,025,565
457,538
83,170
81,973
671,091
202,377
57,837
163,229
-		 Support
costs (see
note 7)
Totals
£
£
99,703
1,125,269
68,316
525,854
6,829
89,999
20,452
102,425
141,951
813,042
41,216
243,593
52,252
110,089
38,633
201,861
-
-
2,742,781 469,351
3,212,132

21

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

5. CHARITABLE ACTIVITIES COSTS - continued Charity

Kitchen training
Rehabilitation
Residential work
Other
ACE		 Direct Costs
(see note 6)
Support costs
(see note 7)
Totals
£
£
£
12,615
7,779
20,394
292,315
121,249
413,564
202,377
41,216
243,593
200
1,606
1,806
163,229
38,633
201,861
670,735
210,482
881,218

6. DIRECT COSTS OF CHARITABLE ACTIVITIES

Group
Staff costs
Direct activity costs
Office running costs
Bad debt
Charity
Staff costs
Rates and water
Insurance
Transport costs
Repairs and cleaning
Residential costs
ACE costs
Soup kitchen costs
Sundries		 2025
2024 (As
restated)
£
£
1,698,307
1,546,650
879,577
682,493
160,510
142,643
4,387
(12,064)
2,742,781
2,359,722
2025
2024
£
£
508,625
207,112
1,985
3,385
-
3,264
11,479
6,136
-
59
124,262
69,036
7,006
-
12,459
-
4,919
2,635
670,735
291,627

22

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

SUPPORT COSTS 7.

Group
Workshops
Food distribution
Café
Kitchen training
Rehabilitation
Residential work
Other
ACE		 Support
salaries
Other
costs
Depreciation
costs
Governance
costs
Totals
£
£
£
£
£
46,842
22,052
-
30,809
99,703
29,389
19,596
-
19,330
68,316
3,010
1,839
-
1,980
6,829
3,290
4,658
10,449
2,054
20,452
48,898
60,808
1,619
30,626
141,951
13,639
17,440
1,656
8,482
41,216
-
(12,255)
64,507
-
52,252
14,685
14,412
402
9,133
38,633
159,753
128,551
78,633
102,414
469,351

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
Professional and legal		 fees 2025
2024 (As
restated)
£
£
102,414
155,984
102,414
155,984
Charity
Kitchen training
Rehabilitation
Residential work
Other
ACE		 Support
salaries
Other costs
Depreciation
costs
£
£
£
3,059
2,818
-
42,861
51,733
-
13,639
17,440
1,656
-
1,576
30
14,685
14,412
402		 Governance
costs
Totals
£
£
1,902
7,779
26,655
121,249
8,482
41,216
-
1,606
9,133
38,633
74,244
87,979
2,088		 46,172
210,482
Governance costs
Professional and legal fees		 2025
2024
£
£
46,172
99,749
46,172
99,749

23

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

8. NET INCOME/(EXPENDITURE) Group

Net income/(expenditure) is stated after charging/(crediting):

Auditor's remuneration
Depreciation - owned assets
Deficit on disposal of fixed assets
Operating lease rentals
Auditor's remuneration - accountancy fees		 2025
£
10,000
78,633
-
2,515
5,000		 2024 (As
restated)
£
4,800
69,029
-
2,515
4,100

Charity

Net income/(expenditure) is stated after
charging/(crediting):
Auditor's remuneration
Depreciation - owned assets		 2025
£
10,000
2,088		 2024
£
4,800
1,941

9. TRUSTEES' REMUNERATION AND BENEFITS Trustees' expenses

There were no trustees' expenses paid for the year to 30 April 2025 nor for the period ended 30 April 2024.

Trustee’s remuneration

J B Taylor was paid £12,000 (2024: £25,500) during the year for IT consultancy services provid

24

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

10. STAFF COSTS

a) Employees 2025 2024 (As
restated)
£ £
Salaries and wages 1,727,691 1,595,391
Pension costs - money purchase 155,377 31,076
Employer's NI contributions 34,313
1,917,380		 137,800
1,764,267
Staff costs for the trading subsidiary included
above
1,334,562
1,556,657
b) Employees earning more than £60,000
Number
Number
£80,000 - £90,000
1
1
c) The key management of the group comprise the trustees and senior staff (as set
out on pages 7 and 8). The trustees do not receive any remuneration for their services.
2025
2024 (As
restated)
£
£
The total employee benefits of other key
management were as follows:
447,417
357,158
d) Average staff numbers
The average number of employees referred to
above, was as follows:-
2025
2024 (As
restated)
Charity
15
7
Trading subsidiary
43
55
58
62

25

RECYCLING LIVES CHARITY

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 30 APRIL 2023 TO 30 APRIL 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Workshops
Food distribution
Cafe
Kitchen training
Rehabilitation
Residential work
ACE
Social value
Investment income
3
Total
EXPENDITURE ON
Charitable activities
5
Workshops
Food distribution
Cafe
Kitchen training
Rehabilitation
Residential work
Other
ACE
Bikes
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds (As
restated)
Restricted
funds
2024
Total
funds (As
restated)
£
£
£
47,561
105,585
153,146
1,127,967
-
1,127,967
283,421
7,208
290,629
42,194
-
42,194
14,521
-
14,521
106,809
283,288
390,097
43,890
-
43,890
200
109,395
109,595
105,036
-
105,036
42,768
-
42,768
1,814,367
505,476
2,319,843
906,658
-
906,658
405,704
12,386
418,090
74,333
-
74,333
35,534
70,471
106,005
224,472
355,849
580,321
167,306
-
167,306
424,963
-
424,963
-
141,017
141,017
-
339
339
-
-
-
2,238,970
580,062
2,819,032
(424,603)
(74,586)
(499,189)
(319)
319
-
(424,922)
(74,267)
(499,189)
1,440,471
128,839
1,569,310
1,015,549
54,572
1,070,121

26

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

12. TANGIBLE FIXED ASSETS

Group

COST
At 1 May 2024
Additions
Disposals
At 30 April 2025
DEPRECIATION
At 1 May 2024
Charge for year
Eliminated on disposal
At 30 April 2025
NET BOOK VALUE
At 30 April 2025
At 1 May 2024
Charity
COST
At 1 May 2024
Additions
Disposals
At 30 April 2025
DEPRECIATION
At 1 May 2024
Charge for year
At 30 April 2025
NET BOOK VALUE
At 30 April 2025
At 30 April 2024		 Improvements
to
property
Fixtures
and
fittings
Motor
vehicles
Computer
equipment
Totals
£
£
£
£
£
3,610
258,345
96,726
28,093
386,774
-
84,302
79,884
705
164,891
-
(1,440)
(66,780)
-
(68,220)
3,610
341,207
109,830
28,798
483,445
3,610
169,428
84,471
19,637
277,146
-
53,611
21,387
3,635
78,633
-
(901)
(59,763)
-
(60,664)
3,610
222,138
46,095
23,272
295,115
-
119,069
63,735
5,526
188,330
-
88,917
12,255
8,456
109,628
Improvements
to
property
Fixtures
and
fittings
Motor
vehicles
Computer
equipment
Totals
£
£
£
£
£
3,610
50,855
1,800
6,734
62,999
-
-
-
707
707
-
-
-
-
-
3,610
50,855
1,800
7,441
63,706
3,610
38,031
1,800
6,734
50,175
-
1,941
-
147
2,088
3,610
39,972
1,800
6,881
52,263
-
10,883
-
560
11,443
-
12,824
-
-
12,824

27

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

13.
FIXED ASSET INVESTMENTS
Charity
COST LESS IMPAIRMENT
At 1 May 2024 and 30 April 2025
NET BOOK VALUE
At 1 May 2025
At 30 April 2024
There were no investment assets outside the UK.
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2025
£
Trade debtors
301,736
Prepayments
54,670
356,406
Charity
2025
£
Trade debtors
52,011
Amounts owed by group undertakings
740,623
Prepayments
21,914
814,549
15.
CURRENT ASSET INVESTMENTS
Group
2025
£
Short term deposits
455,393
Charity
2025
£
Short term deposits
455,393		 Shares in
group
undertakings
100
100
100
2024 (As
restated)
£
301,610
109,738
411,348
2024
£
1,500
379,576
4,137
385,213
2024 (As
restated)
£
1,167,030
2024
£
1,167,030

28

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE 16. YEAR

Group
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses and deferred income
Deferred capital grants
Charity
Bank loans and overdrafts
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses		 2025
£
128,008
29,883
9,961
165,198
338,150
-
671,200
2025
£
-
21,585
16,360
8,545
217,692
264,183		 2024 (As
restated)
£
157,817
34,662
75,926
129,125
436,197
2,405
836,132
2024
£
14,973
6,311
4,184
4,808
156,313
186,589

17. LEASING AGREEMENTS

Group

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2025
£
16,438
3,782
-
20,220		 2024 (As
restated)
£
36,553
14,375
-
50,928

The above figures exclude service charges.

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.

29

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

18. MOVEMENT IN FUNDS

Group
At Net Transfers At
01.05.24 (As movement between 30.04.25
restated) in funds funds
£ £ £ £
Unrestricted funds
General fund 1,015,549 (608,604) (810) 406,135
Restricted funds
Capital Donation - New Kitchen 29,038 (12,278) 810 17,570
ASDA -Capital 8,756 (5,178) - 3,578
Release potential - 20,000 - 20,000
ACE 16,778 (16,778) - -
54,572 (14,234) 810 41,148
TOTAL FUNDS 1,070,121 (622,838) - 447,283
Net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
resources		 Resources
expended		 Movement in
funds
General fund 2,073,869 (2,682,473) (608,604)
Restricted funds
Capital Donation - New Kitchen - (12,278) (12,278)
ASDA -Capital - (5,178) (5,178)
Release potential 188,899 (168,899) 20,000
Fareshare 10,711 (10,711) -
Training 16,039 (16,039) -
Residential 66,970 (66,970) -
ACE 122,850 (139,627) (16,778)
Albert Gubay 24,181 (24,181) -
Café 5,143 (5,143) -
Lottery 82,725 (82,725) -
Vinci 12,500 (12,500) -
Soup kitchen 12,985 (12,985) -
543,004 (557,238) (14,234)
2,616,873 (3,239,711) (622,838)

30

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

18. MOVEMENT IN FUNDS Comparatives for movement in funds Group

Unrestricted funds
General fund
Restricted funds
Capital Donation - New Kitchen
ASDA -Capital
Release potential
ACE
Bikes
TOTAL FUNDS		 At
30.4.23 (As
restated)
Net
movement
in funds
Transfers
between
funds
At
30.4.24 (As
restated)
£
£
£
£
1,440,471
(424,603)
(319)
1,015,549
61,506
(32,468)
-
29,038
13,934
(5,178)
-
8,756
5,000
(5,000)
-
-
48,399
(31,621)
-
16,778
-
(319)
319
-
128,839
(74,586)
319
54,572
1,569,310
(499,189)
-
1,070,121

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Albert Gubay
Capital Donation - New Kitchen
Vinci
ASDA -Capital
Lancashire & Cumbria Core
TNLCF (The National Lottery
Charity Fund)
Placements
ACE
Training
Wates
Fareshare
Bikes		 Incoming
resources
Resources
expended
Movement in
funds
1,965,056
(2,389,659)
(424,603)
30,827
(30,827)
-
1,201
(33,669)
(32,468)
30,000
(30,000)
-
-
(5,178)
(5,178)
162,025
(167,025)
(5,000)
73,456
(73,456)
-
17,807
(17,807)
-
109,396
(141,017)
(31,621)
5,975
(5,975)
-
67,561
(67,561)
-
7,208
(7,208)
-
20
(339)
(319)
505,476
(580,062)
(74,586)
2,470,532
(2,969,721)
(499,189)

31

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

18. MOVEMENT IN FUNDS

Charity

Charity
At Net Transfers At
01.05.24 movement between 30.04.25
in funds funds
£ £ £ £
Unrestricted funds
General fund 1,431,904 (387,705) - 1,044,199
Restricted funds
Release potential - 20,000 - 20,000
Soup kitchen 1,018 (1,018) - -
ACE 16,778 (16,778) - -
17,796 2,204 - 20,000
TOTAL FUNDS 1,449,700 (385,501) - 1,064,199
Net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
resources		 Resources
expended		 Movement in
funds
General fund 118,013 (505,718) (387,705)
Restricted funds
Release potential 174,899 (154,900) 20,000
Residential 66,970 (66,970) 0
ACE 122,850 (139,627) (16,778)
Soup kitchen 11,967 (12,985) (1,018)
376,686 (374,482) 2,204
494,699 (880,200) (385,501)

32

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

18. MOVEMENT IN FUNDS Comparatives for movement in funds Charity

Unrestricted funds
General fund
Restricted funds
ACE
Soup kitchen
Bikes
TOTAL FUNDS		 At
30.04.23
Net
movement
in funds
Transfers
between
funds
At
30.4.24
£
£
£
£
1,587,907
(155,684)
(319)
1,431,904
48,399
(31,621)
-
16,778
-
1,018
-
1,018
-
(319)
319
-
48,399
(30,922)
319
17,796
1,636,306
(186,606)
-
1,449,700

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Soup kitchen
ACE
Bikes		 Incoming
resources
Resources
expended
Movement in
funds
102,190
(257,874)
(155,684)
1,200
(182)
1,018
109,396
(141,017)
(31,621)
20
(339)
(319)
110,616
(141,538)
(31,940)
212,806
(399,412)
(187,624)

33

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

  1. MOVEMENT IN FUNDS A current year 12 months and prior year 12 months combined position is as follows: Group

Group
At Net Transfers At
30.04.23 (As movement between 30.04.25
restated) in funds funds
£ £ £ £
Unrestricted funds
General fund 1,440,471 (1,033,207) (1,129) 406,135
Restricted funds
Capital Donation - New Kitchen 61,506 (44,746) 810
17,570
ASDA -Capital 13,934 (10,356) - 3,578
Release potential 5,000 15,000 - 20,000
Bikes - (319) 319
-
ACE 48,399
128,839		 (48,399)
(88,820)		 -
1,129		 -
41,148
TOTAL FUNDS 1,569,310 (1,122,028) - 447,283
Net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
resources		 Resources
expended		 Movement in
funds
General fund 4,038,925 (5,072,132) (1,033,207)
Restricted funds
Capital Donation - New Kitchen 1,201 (45,947) (44,746)
ASDA -Capital - (10,356) (10,356)
Release potential 350,924 (335,924) 15,000
Fareshare 17,919 (17,919) -
Training 22,014 (22,014) -
Residential 66,970 (66,970) -
ACE 232,246 (280,644) (48,399)
Albert Gubay 55,008 (55,008) -
Café 5,143 (5,143) -
Lottery 156,181 (156,181) -
Vinci 42,500 (42,500) -
Placements 17,807 (17,807) -
Wates 67,561 (67,561) -
Bikes 20 (339) (319)
Soup kitchen 12,985 (12,985) -
1,048,480 (1,137,300) (88,820)
5,087,405 (6,209,432) (1,122,028)
  1. RELATED PARTY DISCLOSURES

Charity and subsidiary

At 30th April 2025 the subsidiary Recycling Lives (Social Enterprise) Limited owed to the parent charitable company £740,623 (2024 - £379,576). The amount is non-interest bearing and unsecured.

34

RECYCLING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR TO 30 APRIL 2025

21. PRIOR PERIOD ADJUSTMENT

During the current period, the group has identified an error in the calculation of accrued income in respect of social value effecting the years ended 30 April 2023 and 30 April 2024.

In accordance with the applicable accounting standards, the error has been corrected retrospectively. Comparative information has been restated and the opening balance of total funds as at 1 May 2023 has been adjusted.

The effect of the adjustment is cumulative. The adjustment to the year ended 30 April 2023 was to reduce accrued income by £161,861. The adjustment to the year ended 30 April 2024 was an additional reduction to accrued income of £150,689. Therefore, the cumulative effect on the prior year accrued income of £312,550.

Reconciliation of changes in funds - group
Adjustments to prior period
Recalculation of accrued income
Unrestricted funds as previously reported
Unrestricted funds as adjusted
Analysis of the effect on funds
Unrestricted funds
Restricted funds
Total funds		 30 April
2023
£
(161,861)
1,602,332
1,440,471
1,440,471
128,839
1,569,310		 30 April
2024
£
(312,550)
1,328,099
1,015,549
1,015,549
54,572
1,070,121

35