**REGISTERED COMPANY NUMBER: 05986749 (England and Wales) REGISTERED CHARITY NUMBER: 1119240**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
Everyday Champions Ltd
Willsons Chartered Accountants Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
Everyday Champions Ltd
Contents of the Financial Statements for the Year Ended 31 March 2024
|||Page||
|---|---|---|---|
|Reference and Administrative Details||1||
|Chief Vision Officer & Snr Pastor Report|2|to|5|
|Report of the Trustees|6|to|13|
|Independent Examiner's Report||14||
|Statement of Financial Activities||15||
|Balance Sheet|16|to|17|
|Notes to the Financial Statements|18|to|28|
|Detailed Statement of Financial Activities|29|to|30|
Everyday Champions Ltd
Reference and Administrative Details for the Year Ended 31 March 2024
**TRUSTEES** Dr A Davies Academic Director At University (resigned 31.12.23) S P Gill Director (resigned 10.4.23) M J Sivers Mrs K A Poucher Teacher P D Rhodes Director O Muoka Director (appointed 1.3.24) **COMPANY SECRETARY** M J Sivers **REGISTERED OFFICE** 167-169 Great Portland Street London W1W 5PF **REGISTERED COMPANY** 05986749 (England and Wales) **NUMBER REGISTERED CHARITY** 1119240 **NUMBER INDEPENDENT EXAMINER** Willsons Chartered Accountants Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
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Everyday Champions Ltd
## Chief Vision Officer & Snr Pastor Report for the Year Ended 31 March 2024
It is a privilege and joy to submit this report as we find ourselves another year on this journey of re-discovering the new-old ways of outworking the mission of the church. I say new-old because we are in fact going back to the first principles of the early church found in Acts 2 that were a movement and not an institution. We have been gaining increasing insight into the rhythms of life that meant that the mission of the church and the daily lives of the people were in unison. This is far from the compartmentalised version of the 21st century version of 'I go to church' and 'I go to work.' This compartmentalisation has been created because a misunderstanding of the mission Christ calls us to. I also say 'new' because whilst we are uncovering the ancient ways of the early church we also understand we live in a very different world. We are seeking to take advantage of the advancements of the 21st century and leverage them to help us better achieve our objectives.
In this report I will continue to use the eight convictions that were formed during the height of the lockdowns in the Covid 19 pandemic as a framework for this update. They have become guiding principles that steer us on this journey of re-discovery.
1. We are located where our people are, not where our buildings are
2. Our leaders are based on function not location
3. We are driven online but serve locally (physically)
4. We equip and mobilise not entertain and motivate
5. We are not weekends we are everyday
6. We are committed to gathering physically but not like we did
7. Being on team at church means connecting to people to coach them for Christ
8. Coaching centres are our future use of buildings
## **1. We are located where our people are, not where our buildings are**
During this year we undertook a review of our buildings to see if they had any role to play in the next chapter of Everyday Champions. Throughout the year we streamed our digital coaching content into our building on Sundays. However it increasingly became apparent that we were only using a small % of the overall space during this time and with all other activity taking place outside of the buildings they were becoming an expensive luxury. It became clear that whilst we didn't know what future buildings we would require to facilitate our vision, we knew that these buildings had served their purpose and served them well. In January 2024 we shared with the church that we would be selling these buildings and that we would seek alternative means of using buildings as and when we required them. We would continue to focus on the development of weekday circles (meeting in homes, coffee shops, pubs and online) as well as now weekend circles that would meet in homes. These circles would then come together periodically for times of celebration as well as training and equipping.
The vision is to establish many small communities of 'the church' which is all about the people. By doing so we can have a greater reach and create environments that are more personal and impactful.
Upon reflection the paradigm shift that we have undertaken is to move from institutional to movement. This has not only had an influence on how we meet but the use of roles and titles as I'll now explain.
## **2. Our leaders are based on function not location**
During this year our employment staffing levels were reduced to only a handful of part time roles in finance and cleaning. Whilst the input of both Leanne and I came in the form of a consultancy role to the church through our business 'Personal Revolution Ltd.'
For many years now we have wrestled with the institutional job roles and labels that have been used because they never seemed to fit who we were becoming as a 'movement' and this has been experienced most by ourselves as the main leaders.
To put it simply we have come to understand that our 'apostolic' gifting is one that has been outworked through our business for several years now. Essentially we have been working in many different sectors building strong foundations for developing healthy high producing cultures. At its core it is about guiding individuals and organisations through a process of deconstruction and then reconstruction in order to achieve higher levels of health, productivity and performance.
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Everyday Champions Ltd
## Chief Vision Officer & Snr Pastor Report for the Year Ended 31 March 2024
This work in other sectors has enabled us to be sharpened as leaders and to have an greater understanding of what our church members experience themselves in those sectors. It has led to a greater sense of relevance, empathy as well as creating tools and resources to equip them to bring the best version of who God has made them so that they add increasing value to their employment, business, families and community.
It was agreed by directors that this would be implemented in the short term and reviewed in due course. The work of Personal Revolution is outworked in some of the communities we want to focus on and so their is certainly a synergy here.
Our function as apostolic leaders will continue to be explored and the role of being consultants to the organisation under review as we seek the best way forward for the charity and church in providing what it needs to flourish and achieve its mission.
## **3. We are driven online but serve locally (physically)**
We have developed a strong and effective way of using digital media to facilitate in person conversations. We have over 550 YouTube subscribers with all our content live-streamed so as to create community online at the same time as in person. We have people watching from all over the UK and we have been successful at creating a sense of being a larger family even if people are with a small community or indeed watching alone.
During this year we moved our studio to Greenwich as we started to prepare for life without our buildings. This will also make us strategic placed to have guests from anywhere in the UK and indeed the world in person in the studio.
## **4. We equip and mobilise not entertain and motivate**
Our mission is to mobilise the latent potential in our people and all those who engage with our people and circles (communities).
We undertook a 7 week series called the 'MVP Journey' that I had written and created to help people discover their personal role in the mission and how they begin to have an impact or indeed increase their impact.
So what does success look like for us?
We have stories of people working in healthcare, education, business and other areas who attribute the growing impact and influence they are having to the coaching process we have at Everyday Champions. Success for us are the stories of impact as their personal mission is an extension of our corporate mission at Everyday Champions and ultimately the Great Commission of Jesus Christ.
## **5. We are not weekends we are everyday**
During this year our commitment and focus is to dedicate all our resources to building communities that foster transformative conversations, empowering each person to drive measurable change in their own sphere. Our communities now consist of coaching circles that take place midweek, weekends, online, in person, hybrid of both with no geographic boundary. Content is driven digitally online and facilitated by a circle coach. Periodically circles come together with other circles for larger social and corporate gatherings.
We continued to explore and teach around the importance of our 5 metrics for a healthy disciple. We want to see each person…
1. Engage in personal mission (purpose)
2. Encourage others through use of their gifts (worship)
3. Equip others through coaching (discipleship)
4. Embrace challenge of goal setting (growing faith)
5. Exercise stewardship planning (generosity)
In the coming year we will be designing a teaching framework that helps people to practically achieve these objective which in turn will help us increase our charitable impact. Our goal is to utilise both the digital and the physical aspects of what we do to support the teaching an implementation of this work.
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Everyday Champions Ltd
Chief Vision Officer & Snr Pastor Report for the Year Ended 31 March 2024
## **6. We are committed to gathering physically but not like we did**
At the point of closing out this financial year we prepared to vacate our buildings with the plan to meet in homes on weekends as well as midweek circles and to come together for 'All-In' gatherings each month. We committed to do this until the end of 2024 where we will evaluate and adapt accordingly.
Central to meeting in homes is the opportunity to share a meal together as well as join the livestream content. This helps us to further strengthen our commitment to developing the value of 'family.'
Social gatherings are also part of the strategy to broaden our connection with more people who we are not currently not part of the church. We will be regularly scheduling these into the calendar.
The absence of our buildings will actually free more time and resource focus on achieving our core objectives.
## **7. Being on team means connecting to people to coach them for Christ**
The sharing of stories by people in the church relating to conversations they have been having as a result of being better equipped through the teaching of the church has been a joy to see. Our strategy of coffee, conversation, coach and celebrate is one that we continue to build. Conversations are the currency of life and we want to empower each person with the confidence and skills to have meaningful and effective conversations with the people they meet.
We focus on the skill of coaching because it isn't about what 'I know' it is about focussing on asking questions of others and becoming great listeners. This builds trust, strong relationships and we encourage our people to have a sincere interest in the hopes, aspirations and goals of others. The idea is to be a supporting voice so that we get to celebrate progress with people.
This is about helping all people to become Everyday Champions by flourishing in life.
The framework we are building for 2025 will help us to do this more effectively moving forwards.
## **8. Coaching centres are our future use of buildings**
Once the buildings have been sold we still require the asset to help support the development of our vision. We intend to invest the net proceeds in such a way that is generates interest that can support the vision and activity of the church. Whilst at the same time holding the funds for such a time as we get clarity around buildings we will require.
As stated in last years report, what a coaching centre looks like is still unclear and I am unsure as to whether that is the best term for the buildings we will eventually develop. However, the conversation is central to everything and the form of our buildings will follow the function of our strategy which remains…
Coffee, Conversation, Coaching and Celebrate.
We want any person regardless of background and current circumstance to have the opportunity to open up through conversation and to explore…
Identity - Who they are Potential - What they are truly capable of Purpose -Why they are alive Destiny - Where they are heading Source - Who is their source
## **MiY (More In You)**
Our sister charity is in the process of being wound down and the land adjacent to the building in Newark has been moved into the main EC charity. Its final accounts will be submitted at the end of 2024.
## **Final thoughts**
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Everyday Champions Ltd
## Chief Vision Officer & Snr Pastor Report for the Year Ended 31 March 2024
We are truly grateful for the hard work and support of everyone in the church over the past year. We could not ask for a more faith filled and adaptable group of people. The openness and willingness to take steps of faith and journey into the unknown with anticipation and expectation is truly humbling. We have begun to experience the enriching and empowering ingredients of learning, family, faith, spiritual growth and purpose. This health will only result in sustainable growth which we are all eager to see.
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Everyday Champions Ltd
for the Year Ended 31 March 2024
## Report of the Trustees
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 ended 31 March 2024. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Each of the objectives of the charity apply in such parts of the United Kingdom or the world as the directors from time to time may think fit. In practice this includes but is not exclusive to (i) Newark in Nottinghamshire, (ii) Wellingborough in Northamptonshire and (iii) London (mainly Greenwich Borough).
The objectives are to:
- Advance the Christian faith in such ways as the directors think fit.
- Relieve sickness and financial hardship and to promote and preserve health by the provision of funds, goods and
- services of any kind, including through the provision of counselling and other support.
- Advance education.
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Everyday Champions Ltd
Report of the Trustees for the Year Ended 31 March 2024
## **OBJECTIVES AND ACTIVITIES Significant activities** Opening Statement
Everyday Champions is committed to coaching everyday people to unlock their God-given potential to impact their world for Jesus.
In the next 5-10 years our vision is to build a scalable phygital (digital and physical) church family that turns followers into change leaders.
We create and facilitate transformational conversations through having coffee, conversations, coaching and celebrating progress with people. We know we are succeeding when we create moments of movement in our three discipleship environments:
Crowd - EC 'All-In' gatherings,
Core - Circle coaching groups and Close - 1-2-1 development and discipleship conversations.
*Greater explanation of these three discipleship environments below
Our focus is on building a community around a conversation by creating welcoming and vibrant settings in which to do this. We create environments that every age group can benefit from, where they can access friendship, an opportunity to understand the Christian faith, to access pastoral care, practical help and support. We aim to ensure that all our members are a contributing part of accomplishing our vision, and we invest in training and equipping them to love and serve our communities through our coaching circles and commission (All-In) gatherings.
Our growth is measured in quality as well as quantity of people. We look for the following five outcomes as evidence that we are creating healthy disciples for Jesus Christ:
**Disciples engage in mission** -number of members engaged through the church in community and world mission
Outcome: 'I love to share the impact my relationship with Jesus has had on my life and am actively looking to be an impact in my pathway.'
## **Disciples worship** -worship attendance
Outcome: 'I am regularly meeting physically to share communion, worship, fellowship and pray with other believers. having enough of the right conversations.'
## **Disciples make new disciples** -number of new professions of faith
Outcome: 'I have publicly declared my faith in Jesus and continue to immerse myself deeper in his word and act on it which helps me become who I am in Christ.'
**Disciples engage in growing their faith** -number of small groups to grow the faith of disciples
Outcome: 'I have active relationships where I help model discipleship and I seek out relationships that will stretch my faith and help me grow.'
**Disciples give to mission** -amount of money given beyond the local church for community and world mission
Outcome: 'I am regularly aligning my choices to the principles of God's word.'
## **Key Quarterly Milestones**
**April-July 2023** - Mission Focus
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Everyday Champions Ltd
Report of the Trustees for the Year Ended 31 March 2024
## **OBJECTIVES AND ACTIVITIES**
Gareth & Leanne began to work closely with both Newark and Wellingborough so as to understand how to proceed to the next phase of the strategy. This involved weekly trips across to Wellingborough from Newark on Sunday's helping to walk people through the developments and changes being implemented.
Gareth delivered the 'MVP journey' which is a 7 part programme helping members to explore their purpose and mission in life. This was the first step in implementing training to help individuals to build strength and health in the area of the 5 metrics of a healthy disciple. During this term we focussed on the first of five metrics which was 'Disciples engage in mission.' For reference here are all five metrics along with the outcomes we hope each person to be able to state as their experience:
## **August - December 2023** - Review of building plans
We had taken the time this year to review the long term use of our buildings. With the closure of the conferencing and cafe businesses this allowed us time to think through alternative uses or indeed how we could re-allocate the resource to better serve the vision.
A great deal of time and prayer was given to this throughout the year but in particular this term as it was becoming increasingly obvious to ourselves and indeed the wider church that the buildings were an expensive luxury for how we were now outworking church. It was also felt by the leadership that any use of buildings in the future would come after a period of being out of the existing buildings.
This conclusion came on the back of looking at the possibility of short term leases on smaller premises in more densely populated locations. However, the old adage 'form follows function' was applied in our thinking. We would only know the form of the buildings we needed one we developed a new rhythm of how we outworked church. At this point in time we were not at this stage.
It was agreed by directors in December 2023 that we would proceed to market the properties in 2024.
## **January - March 2024** - Strengthen & Structure for increase
We shared the decision with the wider church regarding the sale of the buildings and that we would be working on plans during this period to understand what life outside of the buildings would look like as a church. We would report this in the spring of 2024.
We began the year with prayer and fasting around the phrase 'Strengthen & Structure for MORE in 2024.' We believed that the process we have been through and indeed continue to work through is one of getting back to the essential elements of church and life that will enable us to be healthy, highly adaptive and ultimately more effective at impacting our communities.
Whilst we were selling physical structures we emphasised the importance of structure in our lives and that everything we do should be from a position of strength. To get to this position you often need to go through deconstruction in order to construct for strength in the next season. This is what we were committed to helping individuals, families with along with our focus on the charity and organisation.
## **Financial Picture**
We were unsure as to how quickly the buildings would sell. After initial interest and offers it became clear that we needed to prepare for it taking longer than anticipated. The buildings still had hefty costs which needed to be met. We embarked on process of selling all assets that were no longer required for the organisation in the short to medium term. We set up a charitable ebay account and a lengthy thorough process of selling to generate income began.
We knew this year was going to be a challenge financially because of the process we decided to enter into. However we place on record the ongoing faithfulness and commitment of our members for their tithes and offering. Without this commitment we could not exist as a faith community. We are grateful to those who have sacrificially given in time and energy throughout this period to make the vision God has given us a reality.
## **'A Global family online, serving local people in the name of Jesus'**
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Everyday Champions Ltd
Report of the Trustees for the Year Ended 31 March 2024
## **OBJECTIVES AND ACTIVITIES Public benefit**
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives that have been set as explained below.
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Everyday Champions Ltd
for the Year Ended 31 March 2024
## Report of the Trustees
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **We are a Global Family Online**
We have continued to work hard on creating a family both online as well as in person. We have many people joining us digitally for EC live and circles who do not live near our buildings across the UK. This is significant in proving the concept that you can build church without the geographical boundaries getting in the way. Our 'commission' gatherings are an opportunity for people who can't frequently be together physically to make an extra effort to attend in person in one of our locations for a full day of training and equipping. This includes eating lunch together. With it being a more significant time together the journey is seen as a worthwhile investment. These have been special times and now our people do not segment themselves based on physical location but see themselves as one global family.
During every one of our broadcasts the chat feature plays an important role! We continue to capture both hard data, facts and figures, as well as soft data such as people's experiences and stories, that show significant growth and effectiveness in our online platform.
## Serving Local People
Our EC live streams and Circle content contain coaching questions that facilitate conversations helping people to open up about where they are in life, where they want to go and what they can do to get there. All our conversations are designed to empower every individual both young and old to take control of their lives, tap into the resources of relationships in the church and to set goals that ensure progress.
It is vitally important that we aim to create tangible and material change in people's lives.
## Jeremiah 29:7 says:
'Also, seek the peace and prosperity of the city to which I have carried you into exile. Pray to the LORD for it, because if it prospers, you too will prosper."
Central to our faith is the peace and prosperity of people and the role of God's people to contribute to seeing that happen for ALL people not just those who subscribe to our faith.
## Partnerships
Whilst launching and growing the 'global family online', we also worked to physically serve local people throughout the year, in order to achieve our aims and objectives.. Firstly, we continued to partner with global and local charities to help with the relief of sickness and financial hardship and to promote and preserve health. The charities we partnered with included the following:
- New Life Children's Centres, a UK charity we partner with that works in the Gambia to provide primary and secondary education through sponsorship. Everyday Champions continued to be the admin home for NLCC throughout this financial year. This space allowed the charity to retain the majority of its income for children's education in the Gambia. The centre in Newark acts as a drop off for the charity shop which provides a strong income for the charity. Many EC members volunteer to support the Charity Shop. Regular trips are starting to be planned during this period giving opportunity for EC members to play an active role on the ground in the Gambia. Many people sponsor children and teachers in the Gambia. This engagement also contributes to the advance of education in the Gambia.
- Compassion UK. A global charity committed to bringing relief of poverty in communities in Jesus name. People in the church are encouraged to sponsor children direct and we provide compassion a platform to continue to develop sponsorship opportunities. During this year talks have taken place to identify how we continue to provide charities such as Compassion in the digitally driven model of church. Compassion have been keen to work with us on how we can do this effectively.
- EC* Essentials is our 'in-house' fund to help any person or family that is in need. It allows us to always be ready to meet day-to-day living needs that we become aware of either in the church or through the church.
## **In the name of Jesus...***
At the heart of every activity that we undertake is the desire to see the name of Jesus glorified! Through all that we do we want to see people connect to Jesus, to family and to purpose.
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Everyday Champions Ltd
Report of the Trustees for the Year Ended 31 March 2024
## Gathered Live
Every week content is created that enables children, young people and adults to have a sense to belong, believe and become.
Belong: An inclusive environment that aims to be relevant and accessible to those of the Christian faith and those who are undecided.
Believe: A learning environment where people of all ages can explore the Christian faith
Become: An aspirational environment where people are encouraged to unlock their God-given potential.
The central point for the whole family is Everyday Champions Live. An opportunity for people to learn, pray, take communion and hear teaching that will empower them to live a strong life built on Christian truths.
## Circles
One of the key strategies for building the core of the church and preparing for us to have a scalable way for the church to grow without being contained by buildings is our Coaching Circles.
## EC Prays
Throughout the year EC Prays has been a key gather point for the church. By running this online we have been able to include people who are living in locations where we don't have buildings as well as catering for those who would not be able to make it due to time/work commitments. The ease of connecting in remotely from 'wherever' has helped increase engagement.
## **Everyday Champions Operations Management**
We continued to employ a company providing business service support, with expertise in employment law and health and safety. This maintains standards and consistency, and provides a resource for all managers to access master documents, up to date policies and procedures, and guidance documents.
Book keeping, payroll, and financial reporting continue to be outsourced helping us to better manage both human and financial resource.
## Safeguarding
Although opportunities for volunteering this last year has been significantly reduced, all new volunteers have had DBS checks where relevant, all existing volunteers have current DBS checks where relevant. Online safeguarding training has been purchased for all relevant staff and volunteers.
We have successfully addressed safeguarding concerns that have arisen. We still employ CCPAS as our advisory service in the area of safeguarding, training and volunteering opportunities
## **Conclusion**
The moving out of physical buildings is going to be of huge significance for us as a church. However, this past year we have seen an increase in people engaging in groups and meet ups during planned circle sessions as well as organic connections. Never before have we experienced a deeper sense of family and ultimately this health will not only sustain us when it comes to moving into a different form of gathering but will also strengthen and structure us for growth.
## **FINANCIAL REVIEW**
## **Financial position**
Financial position Everyday Champion Centre in the year to 31 March 2024 had unrestricted net deficit of £2,378. The charity has a net current liability position reported of £89,122 (2023: £89,325). The charity's unrestricted reserves position is £1,223,269 (excluding unrealised revaluations), of which reserves relating to tangible fixed assets less associated loans are £1,237,240, this leave a deficit on reserve of £13,971. This reserves position is discussed further in the Reserves Policy section below.
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Everyday Champions Ltd
Report of the Trustees for the Year Ended 31 March 2024
## **FINANCIAL REVIEW**
## **Reserves policy**
Everyday Champions Centre is currently dependent on grants and donations to sustain its activities, as earned income alone would not allow the charity to continue operating.
To avoid closure if funding difficulties were to arise, the trustees have agreed to keep a certain level of financial reserves to ensure that main operations can continue for a period.
The main concerns of the trustees are to ensure:
-that staff can continue working, primarily to secure new funding;
- -that users are supported to move on to other facilities and services if this proves to be necessary.
Excluding tangible fixed assets, whose disposal would adversely impact the charity's ability to deliver its aims, associated lending and long-term debtors, unrestricted reserves at 31 March 2024 amounted to a deficit balance of £13,971
We have not reached the level of reserves we want in place, which is 25% of our annual income. Upon the sale of our buildings we will be setting aside reserves in line with our policy.
As we close out this financial year we believe that the changes implemented will have a positive financial impact on both income and expenditure. It is imperative that church 2.0 becomes a highly sustainable and missional vehicle for societal renewal.
## **Going concern**
The charity has a net current liability position of £89,122 and the available reserves position is discussed in the financial position section.
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **FUTURE PLANS**
As mentioned in the CVO report, we are working across all areas to adapt and innovate so that our organisation and ministry provision and systems are fit for purpose and can expand with future growth. We continue to make progress with plans we outlined in last years report which at the time of writing continue to be the implementation of...
- our discipleship metrics that help us measure the outcomes signifying health
- how we help solve problems in our community through equipping and enabling people in the church community and wider
- how we engage in physical community regularly for children, young people and adults
- improved social media engagement to reach more people
- increase of income in line with mission
- more efficient and effective financial & organisational systems
- Re-alignment of physical assets so that they help further and not hinder the objectives of the church/charity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Charity constitution**
The charity is a company limited by guarantee and a registered charity. It is operated under the rules of its Memorandum and Articles of association dated 2 November 2006 and most recently amended 10 September 2010. It has no share capital and the liability of each member in the event of winding-up is limited to £1.
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Everyday Champions Ltd
Report of the Trustees for the Year Ended 31 March 2024
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
This past year Prof. Andrew Davies resigned after serving us for many years and we note our gratitude for Andrew's contribution during this time. We welcome Dr Odi Muoka who, along with being a member of Everyday Champions, will bring his vast experience of working at a high level within the NHS to the charity.
We continue to look for additional support for the management of the charity at Board level with additional trustees as well as developing a strong management team. This team will enable us to deliver clear reports that better inform decision making.
We have continued to employed the services of business consultants to advise us in the areas of health and safety law, and employment law during this period.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 18 December 2024 and signed on its behalf by:
M J Sivers - Trustee
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Independent Examiner's Report to the Trustees of Everyday Champions Ltd
## **Independent examiner's report to the trustees of Everyday Champions Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Craig Baird, FCA
The Institute of Chartered Accountants in England and Wales
Willsons Chartered Accountants Carlton House High Street Higham Ferrers Northamptonshire NN10 8BW
18 December 2024
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Everyday Champions Ltd
## Statement of Financial Activities
## (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
Other income
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
4
Charitable activities undertaken directly
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
196,536
44,461
17,386
258,383
3,683
257,078
-
260,761
(2,378)
996,558
994,180
1,225,647
2,219,827|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-|31.3.24
Total
funds
£
196,536
44,461
17,386
258,383
3,683
257,078
-
260,761
(2,378)
996,558
994,180
1,225,647
2,219,827|31.3.23
Total
funds
£
283,008|
|---|---|---|---|---|
|||||60,932|
|||||-|
|||||343,940|
|||||-|
|||||262,944|
|||||35,421|
|||||298,365|
|||||45,575
-
45,575|
|||||1,180,072|
||||||
|||||1,225,647|
The notes form part of these financial statements
Page 15
Everyday Champions Ltd
## Balance Sheet
## 31 March 2024
|Notes
**FIXED ASSETS**
Tangible assets
11
**Investments**
Investments
12
Investment property
13
**CURRENT ASSETS**
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
16
**NET ASSETS**
**FUNDS**
19
Unrestricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
2,784,183
2
360,000
3,144,185
7,266
9,118
16,384
(105,506)
(89,122)
3,055,063
(835,236)
2,219,827|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-|31.3.24
Total
funds
£
2,784,183
2
360,000
3,144,185
7,266
9,118
16,384
(105,506)
(89,122)
3,055,063
(835,236)
2,219,827
2,219,827
2,219,827|31.3.23
Total
funds
£
1,864,919
2
85,900|
|---|---|---|---|---|
|||||1,950,821|
|||||280,240
14,316|
|||||294,556|
|||||(383,881)
(89,325)
1,861,496
(635,849)|
|||||1,225,647|
|||||1,225,647
1,225,647|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 16
continued...
Everyday Champions Ltd
## Balance Sheet - continued 31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 December 2024 and were signed on its behalf by:
M J Sivers - Trustee
The notes form part of these financial statements
Page 17
Everyday Champions Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Everyday Champions Centre is a company limited by guarantee in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information page of these financial statements. The nature of the charity's operations and principal activities are detailed in the trustees report.
## **Preparation of consolidated financial statements**
The financial statements contain information about Everyday Champions Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following specific policies are applied to particular categories of income: For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item.
Income from trading activities includes income earned from rental income, fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
The charity receives government grants in respect of operation requirements. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Income from investments is included in the year in which it is receivable.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
It is categorised under the following headings: Costs of raising funds includes the costs associated with attracting voluntary income and the costs of trading for fundraising purposes;
continued...
Page 18
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them; and
Other expenditure represents those items not falling into the categories above.
## **Allocation and apportionment of costs**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Freehold property|- 2% on cost|
|---|---|
|Fixtures, fittings & equipment|- 33% on cost|
|Computer equipment|- 33% on cost|
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to charitable company's the pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 19
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **2. INVESTMENT INCOME**
|Rents received
Deposit account interest
**3.**
**RAISING FUNDS**
**Investment management costs**
Support costs
**4.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities undertaken directly
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Trustees' remuneration etc
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Stationery and office costs
Sundries
Repairs & renewals
Cleaning & laundry
Motor and travel expenses
Computer and subscriptions
Staff welfare & training
Purchases - food
Purchases - Nursery
Donations - MIY
Venue hire and activities
Gifts and donations
EC Conferences expenses
Café Connect expenses
Depreciation|Direct
Costs (see
note 5)
£
128,272|31.3.24
£
44,460
1
44,461
31.3.24
£
2,030
Support
costs (see
note 6)
£
128,806
31.3.24
£
2,487
5,270
974
5,932
15,969
3,466
1,543
1,278
12,301
2,843
1,883
5,709
145
5,652
-
54,704
-
747
-
-
7,369
128,272|31.3.23|31.3.23|31.3.23|
|---|---|---|---|---|---|
|||||£||
|||||60,931||
|||||1||
|||||60,932||
|||||||
||||31.3.23|||
||||||£|
||||||-|
|||||||
||||Totals
£
257,078|||
||||31.3.23|||
||||£
29,837
84,759
1,526
7,072
14,650
4,856
1,329
1,666
22,720
4,548
2,606
5,704
294
4,401
644
-
276
177
252
4,315
8,769
200,401|||
continued...
Page 20
Everyday Champions Ltd
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **6. SUPPORT COSTS**
|Management
£
Investment management costs
2,030
Charitable activities undertaken directly
-
2,030
Support costs, included in the above, are as follows:
Investment
management
costs
£
Connect loan closed
2,030
Bank charges
-
Interest payable and similar charges
-
MIY project
-
Accountancy fees
-
Legal and professional fees
-
Bookeeping fees
-
Personal revolution
-
2,030|Governance
Finance
costs
£
£
-
-
67,361
61,445
67,361
61,445
31.3.24
Charitable
activities
undertaken
Total
directly
activities
£
£
-
2,030
1,901
1,901
65,460
65,460
-
-
2,004
2,004
2,753
2,753
2,688
2,688
54,000
54,000
128,806
130,836|Totals
£
2,030
128,806
130,836|
|---|---|---|
|||31.3.23|
|||Total
activities
£
-
1,580
52,609
30
2,136
3,560
2,628
-
62,543|
## **7. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.3.24|31.3.23|
|---|---|---|
||£|£|
|Depreciation - owned assets|7,369|8,769|
|Other operating leases|1,653|-|
|Surplus on disposal of fixed assets|(17,386)|-|
|**TRUSTEES' REMUNERATION AND BENEFITS**|||
||31.3.24|31.3.23|
||£|£|
|Trustees' salaries|2,487|29,159|
|Trustees' pension contributions to money purchase schemes|-|678|
||2,487|29,837|
||||
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
Gross salaries and benefits paid in the year to trustees are detailed follows: For pastoral duties S Gill relived £2,487 (2023: £29,159). S Gill resigned as a trustee director on 10 April 2023.
As an employee of the charity, the wife of the trustee S Gill received a salary and benefits of £2,235 (2023: £6,809). As employees of the charity, the family of the trustee M Sivers received salary and benefits of £Nil (2023: £5,019).
A related party transaction with key employees is disclosed in the related party note.
continued...
Page 21
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **8. TRUSTEES' REMUNERATION AND BENEFITS - continued**
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **9. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Trustee
Support
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable activities undertaken directly
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**ACTIVITIES**
Unrestricted
funds
£
283,008
60,932
343,940
262,944
35,421
298,365
45,575
1,180,072
1,225,647||31.3.24
-
2
2
Restricted
funds
£
-
-
-
-
-
-
-
-
-||31.3.23|
|---|---|---|---|---|---|
||||||1
11
12|
||||||Total
funds
£
283,008
60,932|
||||||343,940|
||||||262,944
35,421|
||||||298,365|
|||||45,575
1,180,072||
|||||1,225,647||
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
Page 22
Everyday Champions Ltd
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **11. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
Eliminated on disposal
Revaluation adjustments
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Freehold
property
£
1,962,542
200,000
-
624,801
2,787,343
97,657
7,335
-
(97,657)
7,335
2,780,008|Fixtures,
fittings
& equipment
£
313,812
4,176
(228,446)
-
89,542
313,812
-
(228,445)
-
85,367
4,175|Computer
equipment
£
3,402
-
-
-
3,402
3,368
34
-
-
3,402
-|Totals
£
2,279,756
204,176
(228,446)
624,801
2,880,287
414,837
7,369
(228,445)
(97,657)
96,104
2,784,183|
|---|---|---|---|---|
||1,864,885|-|34|1,864,919|
Cost or valuation at 31 March 2024 is represented by:
|Valuation in 2015
Valuation in 2024
Cost|Freehold
property
£
(539,299)
624,802
2,701,840
2,787,343|Fixtures,
fittings
& equipment
£
-
-
89,542
89,542|Computer
equipment
£
-
-
3,402
3,402|Totals
£
(539,299)
624,802
2,794,784
2,880,287|
|---|---|---|---|---|
The freehold and investment property have been revalued during 2024 by D J Moore BSC MRICS.
## **12. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Shares in|
||group|
||undertakings|
||£|
|**MARKET VALUE**||
|At 1 April 2023 and 31 March 2024|2|
|**NET BOOK VALUE**||
|At 31 March 2024|2|
|At 31 March 2023|2|
|||
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
continued...
Page 23
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **12. FIXED ASSET INVESTMENTS - continued**
## **Café Connect of Newark Ltd**
|**Café Connect of Newark Ltd**||||
|---|---|---|---|
|Registered office: UK||||
|Nature of business: Café||||
||%|||
|Class of share:|holding|||
|Ordinary|100|||
|||31.3.24|31.3.23|
|||£|£|
|Aggregate capital and reserves||(436)|6,499|
|(Loss)/profit for the year||(6,935)|6,498|
|**Everyday Champions (Conferences) Ltd**||||
|Registered office: UK||||
|Nature of business: Conferences||||
||%|||
|Class of share:|holding|||
|Ordinary|100|||
|||31.3.24|31.3.23|
|||£|£|
|Aggregate capital and reserves||(2,977)|1|
|Loss for the year||(2,978)|-|
|||||
The subsidiaries were used for non-primary purpose trading activities, and are ceasing trade 31 March 2024.
## **13. INVESTMENT PROPERTY**
|**FAIR VALUE**
At 1 April 2023
Revaluation
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
Fair value at 31 March 2024 is represented by:
Valuation in 2024
Cost|£
85,900
274,100
360,000
360,000|
|---|---|
||85,900|
||£
274,100
85,900
360,000|
continued...
Page 24
Everyday Champions Ltd
## Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**14.**
**DEBTORS**
31.3.24
£
Amounts falling due within one year:
Trade debtors
6,426
Amounts owed by group undertakings
-
Other debtors
840
7,266
Amounts falling due after more than one year:
Related charity
-
Aggregate amounts
7,266
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.3.24
£
Bank loans and overdrafts (see note 17)
75,152
Other loans (see note 17)
2,500
Trade creditors
16,352
Amounts owed to group undertakings
-
Pension
-
Other creditors
1,524
Credit card
9,978
105,506
**16.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.3.24
£
Bank loans (see note 17)
835,236
**17.**
**LOANS**
An analysis of the maturity of loans is given below:
31.3.24
£
Amounts falling due within one year on demand:
Bank loans
75,152
Other loans
2,500
77,652
Amounts falling between one and two years:
Bank loans - 1-2 years
82,674
Amounts falling due between two and five years:
Bank loans - 2-5 years
577,206
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years by instalments
175,356||
|---|---|
||31.3.23
£|
|||
||4,500
16,360
840|
||21,700|
||258,540|
|||
||280,240|
|||
||31.3.23
£|
||357,115|
||-
5,323
9,982
138
1,524
9,799
383,881|
|||
||31.3.23
£|
||635,849|
|||
|||
||31.3.23
£|
||357,115
-
357,115|
||69,392|
||566,457|
||-|
Page 25
continued...
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **18. SECURED DEBTS**
The following secured debts are included within creditors:
Bank loans
|31.3.24
£
910,388|31.3.23
£|
|---|---|
||992,964|
Bank loans are secured by legal charges over the freehold property of the charity and an unlimited debenture incorporating a fixed and floating charge.
## **19. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Revaluation reserve
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
Revaluation reserve
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Revaluation reserve
**TOTAL FUNDS**|follows:
Incoming
resources
£
258,383
-
258,383
258,383|At 1.4.23
£
1,764,946
(539,299)
1,225,647
1,225,647
Resources
expended
£
(260,761)
-
(260,761)
(260,761)
At 1.4.22
£
1,719,371
(539,299)
1,180,072
1,180,072||Net
movement
in funds
£
(2,378)
996,558
994,180
994,180
Gains and
losses
£
-
996,558
996,558
996,558
Net
movement
in funds
£
45,575
-
45,575
45,575|At
31.3.24
£
1,762,568
457,259
2,219,827
2,219,827
Movement
in funds
£
(2,378)
996,558
994,180
994,180
At
31.3.23
£
1,764,946
(539,299)
1,225,647
1,225,647|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
Page 26
continued...
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **19. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
343,940
343,940|Resources
Movement
expended
in funds
£
£
(298,365)
45,575
(298,365)
45,575|Resources
Movement
expended
in funds
£
£
(298,365)
45,575
(298,365)
45,575|
|---|---|---|---|
||||45,575|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Revaluation reserve
**TOTAL FUNDS**|At 1.4.22
£
1,719,371
(539,299)
1,180,072
1,180,072|Net
movement
in funds
£
43,197
996,558
1,039,755
1,039,755|At
31.3.24
£
1,762,568
457,259|
|---|---|---|---|
||||2,219,827|
||||2,219,827|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Revaluation reserve
**TOTAL FUNDS**|Incoming
resources
£
602,323
-
602,323
602,323|Resources
expended
£
(559,126)
-
(559,126)
(559,126)|Gains and
Movement
losses
in funds
£
£
-
43,197
996,558
996,558
996,558
1,039,755
996,558
1,039,755|
|---|---|---|---|
## **20. RELATED PARTY DISCLOSURES**
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Everyday Champions Centre has provided a loan account to MIY (More in You) Inc., a charity with common trustees and objectives. This loan is interest-free. At 31 March 2024 the balance owed to Everyday Champions Centre was £Nil (2023: £258,540). During the year MIY transferred its freehold land asset to Everyday Champions Centre for £200,000 in settlement of the loan, with the remaining balance of £54,704 effectively being donated.
continued...
Page 27
Everyday Champions Ltd
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **20. RELATED PARTY DISCLOSURES - continued**
During the year Everyday Champions Centre has incurred £54,000 of costs on leadership coaching and organizational consultancy work from Personal Revolution Limited. This company is owned by two key management of the Charity. At 31 March 2024 the balance owed to Personal Revolution Limited was £13,500 (2023: £nil).
## **21. CONTROL**
The trustees control the charitable company.
Page 28
Everyday Champions Ltd
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2024|||
|---|---|---|
||31.3.24|31.3.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Offerings & collections|165,573|202,219|
|Donations|-|500|
|Gift aid|30,963|43,688|
|Donations - Conference|-|35,408|
|Donations - Cafe|-|1,193|
||196,536|283,008|
|**Investment income**|||
|Rents received|44,460|60,931|
|Deposit account interest|1|1|
||44,461|60,932|
|**Other income**|||
|Gain on sale of tangible fixed assets|17,386|-|
|**Total incoming resources**|258,383|343,940|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Other operating leases|1,653|-|
|**Charitable activities**|||
|Trustees' salaries|2,487|29,159|
|Trustees' pension contributions|-|678|
|Wages|5,109|80,899|
|Social security|126|1,312|
|Pensions|35|2,548|
|Rates and water|974|1,526|
|Insurance|5,932|7,072|
|Light and heat|15,969|14,650|
|Telephone|3,466|4,856|
|Stationery and office costs|1,543|1,329|
|Sundries|1,278|1,666|
|Repairs & renewals|12,301|22,720|
|Cleaning & laundry|2,843|4,548|
|Motor and travel expenses|1,883|2,606|
|Computer and subscriptions|5,709|5,704|
|Staff welfare & training|145|294|
|Purchases - food|5,652|4,401|
|Purchases - Nursery|-|644|
|Donations - MIY|54,704|-|
|Venue hire and activities|-|276|
|Gifts and donations|747|177|
|Carried forward|120,903|187,065|
This page does not form part of the statutory financial statements
Page 29
Everyday Champions Ltd
## Detailed Statement of Financial Activities for the Year Ended 31 March 2024
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2024|||
|---|---|---|
||31.3.24|31.3.23|
||£|£|
|**Charitable activities**|||
|Brought forward|120,903|187,065|
|EC Conferences expenses|-|252|
|Café Connect expenses|-|4,315|
|Freehold property|7,335|7,646|
|Computer equipment|34|1,123|
||128,272|200,401|
|**Other**|||
|Bad debts|-|35,421|
|**Support costs**|||
|**Management**|||
|Connect loan closed|2,030|-|
|**Finance**|||
|Bank charges|1,901|1,580|
|Bank loan interest|65,460|52,609|
||67,361|54,189|
|**Other**|||
|MIY project|-|30|
|**Governance costs**|||
|Accountancy fees|2,004|2,136|
|Legal and professional fees|2,753|3,560|
|Bookeeping fees|2,688|2,628|
|Personal revolution|54,000|-|
||61,445|8,324|
|Total resources expended|260,761|298,365|
|**Net (expenditure)/income**|(2,378)|45,575|
||||
This page does not form part of the statutory financial statements
Page 30