REGisfERCD COMPANY NUMBER: 05672529 (England and Wales) REGJSTEBED CHARrfY NUMBER: 1124422 Report of the Trustees UnAlldtted Flnanelil Statements for the Year Ended 31st July 2024 for Churn Project Llmlted JD Frost Accountants Chartered Ac¢ounlanls 7 Link8 View Cirenc&%ter Glouoester8bire GL7 2NF
Churn Pro1t Llmlted Contents of the Fln&nclal Statements foy the Yegr Ended 31gt July 2024 PRge Report of the Trustees I to 7 Independent XAmin¢vl$ R¢port ststement of Flnanclal ActlvltleB BalRnee Sheet 10 Notes to the Flnanclal St&tements 11 to 16 Detalknl SthtemeDt of Ffnallcial Actlvltie8 17 to 18
Churn Project Llmltod Report of the Trustee8 foi. the Year Ei nded 318t July 2024 The trLiStees who are al80 direolors of the Qbarity for the PUTPOSCS of the Companies Act 2006, prgsellt th¢ir report with the finanei&l statements of the ¢harity for th¢ year ended 31st July 2024, The tntstees have adopted the provision8 of Accounting and Reporting. by Chariti&q". Ststement of R¢¢ommended Praolice applieabl¢ to ¢haiiti¢s preparing their a¢counts in accordance with the Fillancial Rerti Standard appli¢able in th¢ UK and Republic of IreiAnd (FRS 102) (¢££11ve l January 2019}, REPORT FROM THE CHAIR OF TRUSTELS What a year iv8 been for The Churn Project! We're delighted by the progress weWe made, particularty in expanding Se1¢eS to better support our community's wellbeing. By listlItig to those who rely on our sErvices. we*¢ been able to provide rn0 ted and impac] Support for people facing mental bealdi ¢hallenge8, parenting concerns, and p¢rsonal QLises. This year, we've supported 1550 people in totsl. 0£ t&ese 334 re¢¢ived individual 8UPPOrt, 99 people a¢ce8sed our employabilily sViC, 69 parents eIved famiiy-focu8ed support tljmugh our new programm¢ in primary schools and 119 older twle enjoyed our social trips and activities, AcrosB all 8roups there was a total of 1411 memberships. These nutnbers highlight the growth in capacity and outreacl¥ hllowing u8 to net a wider range of needs &cro8S tbe con]tllunity. Volvntews continuo to b¢ at tho heart of our SU5. Wdve strengthened our volunteer programme, elloouraging c¢>production and involvttig service users in leading '0i8. It's be¢n Tewarding tr) see fornier participatits be¢ volunteer8, fi7rther embedding the Cottnnunity spirit that drive8 U& tn pOnse to the increasing rost of Jiving, we've provided practical 8UPPOrt like warm packs, energy advice, and frozen ea18. Our partnerships with local organi8otions have enSUd people in need can acce&8 essential benefits ld support to all¢vAat¢ fill¢tal hardship. We are forthnats to have a dedicated t¢a of 17 en]ployees (equating to aroutKI 12 FTE) and 114 regular voluntee]3 with a rther 200 suppfflting one off ev¢llts whose experiellce and conllnithi¢nt drive our succe&8. Tbcir hard WOLk is refiected in everything we do, including hosting 8uccessl fiindraisitig &Vts to wticipating in conUn1ty actlvlties, nIng meaningftd ¢ontrAbutions that strengthen our impact. We take great pride irL delivering excellent qilIty Services with limited SOUrceS. Thank you to everyone involved for your cotnmitment. Here's to another year of making a differell. Page I
Churn Project Limited Report of the Trustees for the Year Ended 31st July 2024 OBJECTIVES AND ACTivrriEs Objecdves and alms Founded in 2001, The Chum Proje¢t is & nUllity cligrity based in Cirence8ter, dedicated to redu¢ing isolatioii and enhanctng the wellbetng of local residts, The chaTity oper&te8 right at the h¢art of the cotnmunity &nd is often th¢ only ptace people feel they aan tum to for supporL The Chum Proj¢ct provides a warm and w¢lcDming enviroiitnellt where individuals can openly di$$S their concerns aiid receive much-needed a&8i8tance. What setg th¢ Chum Project apart is its comprehensive siipport acn)ss the lifespan, from pkgnancy to old age, through our three services: Family, Community Wellbeing, and Ageing Well. With a focus on building comtnunity connections, we ensure that everyone f¢el8 valued aud supported, helping to connect individuals with otherrelevant organisations when needed, Objectlves and Purpose The Churn Project's objectives, as outlined in ils mehrandU & Artioles of Asso¢iation, e as follows: Relief of financial hardship - R¢li¢f of unemployment - Cr¢atiug training employment oppothmitie8 - Providing aG¢ivits¢s and services for old¢r individuals and those fillg Cb&llellg the to financial hardship or social and ecollomic clrcumstances - Promotion of good health Our ainL8 are to improv¢ wellbeing and reduce isolation, particularly for those experiencing loneliness or fllcing ¢hall¢ngcs dLuing traositions in tb¢ir live4 Such a8 rlancial hardship or mental health difficulti, Our mission is to address inequaliti¢s that contribute to social isolation ond eGonomir diffxGultie8 by off¢ring BeiCes tbat promot¢ purpose, belonging, al Ilope. We are ¢ommitted to ensuring that all residents feel included and valued in th¢ir commuttity, SUPPOrted in achieving their potetstial, and able to access opportt]niti¢s for personal attd profession growth, Vi8lOiI Our vision is that every individual 8hould f¢el in¢ludeil involvel aud invested in Ih¢ii' conllnimity. We strAV¢ to Change lives by rlUcin8 and preventing isolation, promoting wellbein& creating opporttmities to learn and a¢hi¢ve, supporting individUS through crises, and pmviding early help and interventions. By encouraging personal responsibility and levaaging the best resources through tknUghtI procuremcttt and positive partneTship8, we work towards a tUre where all members of the Cirencester conmiunity Can thrive and contrtbute Meaninglly. EDsurlDg our work de]iYen ollr Aims. To eusure we deliver our aims eff¢¢tiv¢ly, we follow a gtntctUTed approach thf4t include5 regul reviews, evaluations and aliwient with our stated objectives. Here's how we manag¢ bhsed on our cunynt prn¢ti¢es', Regular revlew process.. - We conduct an annual strate8Éc revtew with tsustw and staff to ensire our &im8, objecti. and activities align witb our tnission. This review As infornied by service user feedbacL evaluations, and emerging needs in the commut)ity. Evaluation of imp8Ct: - We uye the Ages Stages Development evalufllion iii our early intsrveiition family work to monitor and support the developmentsl progre&% of children. - W¢ have adopted the Outcom¢ Star tool in the family servic4 which helps us meusiwe changes and track progra in sttu¢turpAI, visual way. - Karitane parentittg confidence scale is used to measure parental wellbeing providing important iusigh18 into how -our support meets their needs. Th¢ NHS Dialog s¢ale measures mental health attd wellbeing for llIts rec¢ivillg individual support and Ih05e participatiiig io pmgrammes, allowing us to assess improvements in overall wellbeing We have developed our own feedback fornis for participants in prograDunes 2nd groups, which enable us to capture specific outcomes and make adjustments based on their feedback. Pag¢ 2
Churn Project I,Imited Report of the Triistees for tbe Year Ended 31st July 2024 OBJECTIVES AND ACTIVITIES Trustee oversight & publlc benefit - Our trustees refer to the Charity Con)mi&8ion's guidallce on public benefit when planning and reviewing our work. This ensures that everything we do d¢livets ineallin8ful benefIts to the public. We regularly review publio benefit in board meeting4 especially when planning new PiDjects or revA¢wing ongoing ono5. ACHIEVEI MENT AND PERFORMANCE Charitable a¢tivities Service Servlee Users Ageitig Well Service Comtllunity Wellbeing S¢rvic¢ Family Service 375 435 378 adults 362 children 314 93 Volunteers Collaborative Setvice Delivery Groups Totsl 1954 Servl¢e Dellvery Summry Communlty Wellbelng Servlco The Community W¢lIbeing Service provides comprehensive support for adults, encouraglng social engagernont and redu¢illg isolation tbrough & rang¢ of social groups and con)munity project& It offers tailoftd wellwng and mentsl health support, crisis assistaii¢¢. and employability programmes that help individuals acc&ss education and trattiing, particularly those who 8truggle to cng&g¢ with maillStre&m resources. The service a180 includes volunt¢¢r-led initiatives, such as wellbeing walks, which pmmote Gonllnunity ConDOll and imwove overall wellbeing. Family Service Tkne Famity ServA¢e suppnts £IlieS through various activities and pro8ramns desi8ned to enballC¢ parenting Skills, promote connectiolls, and provide essential SourCes. The seNice offers guidance for pareuty including alltal aad posinatal supporl as well as assistance for those experiencing domutic abuse or facing complex issues. It also ain)s to 8UPPOrt child development by providing a¢tivities that ellcourage leaming with. By creating a safe and welcoming ¢nvironment, the Fati]ily S¢rvice bullds ¢onuniTnity connectio8 and Provides tailored support duting times of crÉsi8, empowering families lo navigate ¢hali¢nges and improve tbcir overall well-being. Agelng Ivell Se[ The Ageing Well service provides 8UPPOrt to iniprove the he<h and woll-being of oldex adults. partilarlY those exp¢ri¢llcing lotL¢lineys and isolation. Recognising the unique ¢hAll¢nges f4ced by older people, the service offers tsiloRd support to adthyss tbeir specifLC needs, including tbos¢ living with dementia. Through various activities and programmes, the servi¢¢ eacourages social connections and promote8 ¢ollllnunity involvement. It also includes a dedicated Car¢rs Hub, provtding essential re3our¢¢s and support for individuals c8ring for others. iidditionaIly, the servtce offer8 beI¢ovement support and a befriending scljeme dimed at individuals who may struggle to le¢ their homes. By focusing oo building rcsilien¢¢ and prontillg independence, the Ageing Well service en8ures that older adul¢8 can access the support they need to nintaIn their health, well-being, and a sense of belonging within the conlliiiintty. Page 3
Churn Project Llndted Report of the Truste for the Year Ended 31stJuty 2024 FINANCIAL REVIEW Finan¢iMI position The past year has bethi one of adaptation and grolrth for Tbe Chum Project, shaped by the changing poIiticdl landscape and the challenges facing the voluntary sector. In all increasingly competitive fill)ding enviiorLntrnl and wit& ri8ing comtnunity needs, we've W0ed liard to maintain tNst in our serviS and keep them relevant. A5 w¢ continue to develop> we've also n]ade significant investments in strengthening our int¢mal infrastrncttwe to eowre we can ttet the 8rowing demand. In 2023124. our incotlle was £461,739, a de¢r¢&8¢ of £21,078. Bxpenditure increased by £65,267, bringing the totsl to £494,745. As of 31st July 2024, our funds stand at £180,873, & decrease of £33,006 oompared to the previous year. A key area of invthent has been improving our HR &upport by outsour¢ing lo a recD8nised consultancy, which ha8 provided professional guidance for our team, We've &lso increased staff hours, with most of our team now working 30 IUr8 or more- a bett¢r Kflection of their worldDad and the CUTrent c&p&city required to deliver ourservices. To support our growth, we restsucturcd our team, creating new roles such a8 the Volwiteer and Communl¢ations Coordinator, and expanded the FÈnance Manager role to include operation4 reflting the inGreasing ¢oJnplexity of ow ¢ore services and administration. With the CBO now £ull-tim4 we've be¢ll able to foous more on 8trategio development, ensuring our service5 remaÉti susthinable and impactful. We arg also in the seGOtKI year of our ESHO proje¢L fvnded IlLrough the UK Shad Prosperity Fund, We have also been able to pilot family siipport work with ftmding from Cotswold Di8tiict Council. Both have had a huge impact on our ability to deltver 5ervice8 and expand our servic. Sustaining Our SerYice$ Througb Multi-Y¢ar Grant Searitig nllthi-year grants has been crucial in sustaining out services attd demonstrates the faith our funders have in our work W¢ are grateful for the strong relatiotthips we've built with fimders sucb as the Peter Lang Tn( the National Lottery, Henry Srnith Charity, and Barnwood Tht, All of whon] provide vital support for our serviS. We are also fortLatr to r¢¢eive regular fla1 support from various *St8 4j orgatjisatioos, ittcluding the Primrose Trnsk St, Jam,8 Place Fourndalion, National B¢n¢voient Charity. Garft¢ld WeslDll Foundation, Sumtnerfield TN8t, Gloucest¢rshir¢ Cotnmunity Fouttdation, WinBtone Thist, al the Integratsd Care Board (NHS). Their ongoillg grts, along with one-off fill1Thg, are crucial to sustaittittg our work and ellabling us to meet the needs of our ¢ommuuity, We are ¢qually gratethl for the contributions from Ctrencester Di8trict Council, Cirences¢6r Town Couocll, and ttumerous smaller Eraots donation4 and invaluable support from Iwal busillesses individuals, all of which have Jwie a sigllificant impact on our ability to deiiveT entIal services, ReseeS PDliey The tte¢S have tablIshed a r¢8erve8 policy to ensure that Th6 Churn Project can maintain core activities during unfore8e¢n difficulties. This policy requires SerVeS to be held kn a readily realisable form. The necessary r&serve levels ¢al¢ulat¢d as part of the platEllg, budgeting, and forecasting cycle, taking into accolmt potential income and exponditure variations related to plallrted activities and tUre Coln1{Ments, The tNst¢&8 review the reserves policy anttually, monitorillg readily realisable reserves, ass&ssing risks to inrne and expenditure, and evaluating working capital and cash flow lleeos to nuintain adequate reserves. Our thrge¢ reserv for thg year were between £47k £93k. This is based on a rninimutn of redundancy costs for all staff and a paid notice period for all core staff with tILe maximum being these costs plus 3 months running costs including of I serYi¢e, Our tUal unrestri¢ted S¢rveS w¢re £96k 80 £3k above the maximLUll. Page 4
Churn Project Limitsd Report of tlie Trustees for the Year Ei nded 31st July 2024 FtrruRE PLAIYS We r¢rognise that our plaus musl adapt to changing circumstanoes and ongoing asseBsments, However, based on tbe infonnation we have thered from 8ervicB U5er8 andpthers, these priorities will be our focus for the upcorning year. Expand volunteer provision to In'ease capa¢ity, with a strong focus on lived experience to pi'ovide meaning] engagemellt opportunities. develop skills and confidence, and allow individua]s to progr8 in their journeys. Continue to develop ttlltal health support by securing fiuther fiwding for the Wellness Progrlle. iiitrodu¢ing additional weeks, and linking with follow4in conynunity Social grovps with a well-being emphasis. Widell the scope of social and engagement groups by listenlllg to service [eTS wid expanding lo evening 5e88ions, IiDking wilh partners to offer more resDurc¢s a¢¢essible in our building. - Increase 8UPPOrt for young people's wetl-being groups, includitig One-tolle siipport and advice on employmellt and training assist&n¢e. It]crea8e engagetnent capacity at tbe Coinmulllty Shed to eithance pailicipation and work with phrttters on developmenL Further develop family support in parinership with schools, including whole ftunily activities and parenting programme8, - Enhance mental health support for parents through lllths with th¢ perinatal team and other partners, - Focus on individual Sup1 for old¢r peopl¢, reevaluatillg tlLe befriending scheme to better address mi)Te complex needs. - Develop smaller ctiVe well-being group8 for older people to encourage ¢onnection ]d engagement. - FoGu8 on physical health and nuttition through our service delivery - cOntill focus on our fimdraisAng strategy lo diversify and secure fimding Sources for futLwe projects. - Dev¢lop a ¢onununical'ion strategy to itnprove our outreach and engagement with the con)rnunity and stakeholders. - Collaborata with parther orgattisatiolls to strengthen the districvs voluntary sector and enhallce so1Ge provision. - Continue to improve our evaluations, impact a8$sments, and d&ta r¢porting by fither developing lh¢ use of our CRM and mODitoiytigtools. - Develop a longer-terjn strategy to rneet growing demand and capacity, with a focus on sustainability and fmancial s¢¢wity. - Str¢ngthell adn]ini8trdtLOn 8UPPOrt, to enhance effEci¢n¢y, enablills our core tearn to effectively manage growing service demattdB and sUPPOrt organisatiollal (lev¢lopment. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng doeumeut The charity 18 controlled by its goveming th)ounL¢nL a deed of $t, and collstitute8 a limited cotnpally, limited by suntee. as defilled by the Companies Act 2(M)6. The charity is controlled by its governing d(t Memffl'andum & Articles of A5so¢iation and constitste& a litnited company, lilted by guw'alltee, as defllied by the Companies Act 2006. It was incorpornted I lth janlly 2006 and registered as a charity on 9th June 2008. RecruAtm¢nt and appojntment ofnew trusteej The directors of the company also serve as truste. all of whom volunteer their Éime and can r¢Ver expens incurred due to their roles. The board currently ¢Ollsists of a Chair and eight additional ISteeS, with a minimum of three serving Stees and no maxinmun limit. Tllte are recrnited for their diverse skills and expertise, invited to complete a skills audi¢ and encouraged to observe a meettng befor¢ joiniug, One thi of ttuste&8 must retire at the Allnual Genernl Meeting but be rel¢¢ted. OrgAnisatlonal strueture The Chum PrOjt h88 a board of tN6tees comprising at l¢&st three members, currently nine, vthich meets every eight weeks, The board is respollsible for the charitys strategi¢ dirKtion and monitoring goveman¢e systems. The Chief Executive oifi¢er manage8 day-to-day operations, leadÈng the staff lo implement thategy and Cllhance skills for optimal client outcome8. Page 5
Churn Project Limlted Report of the Trustees for the Year Ellded 31st July 2024 STRUCTURE, GOVEI IiNANCE AND MANAGEL¥qEI NT Trustee Illduetlon ind Training Upon appoilltment, trnstees complete a declaration of eligibility, undergo an enhanced DBS ch¢cl and stgn a cod¢ of conduct &'eeMent. They alBO undertake online safeguarding training And receive a Tte¢ Infornlion Pack containing.. - An outline of ttwtee roles re8ponsibilities - Key documents, including the Memorandum &nd Artiol¢s, ¢urr¢ut policies, and th¢ Busilless Plan - Financial infomlatio including the latest published accounts - A copy of the Charity Commission's Esselltial Trust¢¢ guide Trustees are invited tr) tour the premises, meet staff volunteerg, aud attend tell nwLingB. Rtsk management This¢¢e5 dre responsiblc for identifying and r¢viewing risk5 to the charity, eliBrIng &ppropriate Controls in plac¢ to mitigate fi'aud and eiyor. They nge risks through regular operational reviews at bi-monthly meetings, focusing o - Finan¢e: Ongoing cash flow management, budget control, and interna] aulhorisation procedures. - Health S8f¢ty: Con]plianc¢ is discussed at every meeting, ensuring safe practices al¢ upheld, External RIBk.. Strategic planning addrSe5 fundillg and s¢Tvi¢e diver8ificatioll, aligned with wider county and nation strategi es. Safeguarding: Safgsuarding policies and procedures are regularly reviewed to protect vulnerable individuals alld ensure Gonwli&n¢e with relevantlogislotio REFERENCIC AND ADMINisfRATJVE D1 TAILS Registered Coinpany number 05672529 (England wl Wales) Reglgtered Charity number 1124422 Re£istertd offlce 1&16 The Waterloo clncester Gloucestershire GL7 2PY Tnistse8 S A Alexander D W BelIamy M A Blumsom W C Cobb¢tt C GroombLidge R Lynn Chair F R Penny D G Sutherland R S Towill Company Secretary R S Towill ndependent Examlner JD Frost Accountants Chartered AOuntantS 7 Lttiks View Cirellcester GlouC&8teh1[C GL7 2NF Page 6
Churn Project Llmlted Report of the Trustees foy the Year Ended 31st July 2024 1.3, 1.1.) l o¥,.,... Approved by oi'det of the board of tru8tee8 On,..,. alld signed on its b¢half by. R Lynn Chair - Trus Page 7
Indep¢ndent Examiner's Report to the Trustees of Churn ProJ¢et Llmlted Ddependent examlner's report to the trustees of Churn Project Limited ('the Compvdlly,) I report to Ilie charity trustees on my examination of the &ccounts of the Company for tlie year ended 31st July 2024. Responsibllities and basis of r¢port As the charity's trnstees of the Company (and also its directors for the purposes of company law) you r¢5ponsible for the preparatithi of the accouDts in accordance with th¢ requllem¢nts of th¢ Cotnpallies Aot 2006 ('tkn¢ 2006 A¢t'). Having satisfied myself that the accounts of the Company ate not required to be audited under Part 16 of the 2006 Act and ar¢ ¢ligible for in&pelld¢nt ¢xarninalion, I report in respect of my examination of your ChIty'S accounts as carried out under Section 145 of thg Charities Act 2011 Clhe 2011 Act,). In carrying ou¢ my examination I have followed the Directioos given by the Cjwity Commis&ion und¢r Section 145(5) (b) of the 2011 ACL Independent examlner's statem¥nt Since your oharity's income exceeded £250,000 your examiner must be a member of a list¢d body. I can ly)nfn that I am qualified lo undertake the ex&min&tion because I am a member of the Instithle of Chartered Accountants in England and Wales, which is one of the listed bodi¢s. I h&ve completed my examination. I cottfirni that no ntter3 h&ve come to my attention in cona¢ction with the exati]inalion giving me cause to believ¢.' accounting r¢oords were not kept in regpeeÉ of the Company as required by Section 386 of the 2006 Act or the account8 do not ac¢ord with those re¢ords' or the accountB do not comply with the accounting requirements of Section 396 of the 2006 Art oth¢r than any requirement that the accounts give a (w¢ and fail. VI which is twt a matter ¢onsidered as part of an independent eXt]InatIOn. or the accounts have not been prepared in accord&llce with tbe methods and. principles of the Statenient of Recommeuded Prnctice for accounting and reporting by charities (applicable to charities preparing their aOnts ill aGoonfanc¢ with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)). I have no conc¢ms and have come across no otEM m&tler8 ill conne¢lion with the examination to whi¢b Attention should be drawn in thi8 report in order to enable aproperunderstanding of the accounts to be reach. J D Frost JD Frost Accoulltallts Chartered Accowttauts 7 Links View Cirencester Gloueestershire GL7 2NF Date: .. Page 8
Churn Projeet Limited Statement of fiJnancl&l Actiiutie$ for the Year Ended 31st July2024 2024 Total funds 2023 TotA] funds Unre5trlcted fund Restrlcted runds Notes INCOME AND ENDOWMENTS FROhl Donations and legacies 21,954 21,955 18,801 ChgrJt8ble actlvltie& Family Seryioes Employment & Ski118 Ag¢ing Well W¢ll Being General 86,749 86,749 100,803 7,059 59,765 132,630 159,103 23,31)0 135,346 23,300 135,346 170,028 170,028 Other trading &etivities luvcstmcnl income 19,438 4,923 19,438 4,923 4,656 Total 216,343 245,396 461,739 482,817 EXPENDITURE ON Charltable a¢tivitie$ Family Services Employment & Skills Ageing Well Older Peoplo SeTvi¢es Hardship Fund Well Being General 87,816 87,816 85276 10,784 53,439 124 220 113,584 166,051 52.433 52,433 148,284 148,284 198,742 198,742 7,470 7,470 TotRi 206,212 288.533 494,745 429,478 LYET INcOL11{XPND[ruR> 10,131 (43,137) {33,006) 53,339 RECONCILIATION OF FUNDS Total ftind8 brought fonvwl 86,237 127,642 213,879 160,540 TOTAL FUNDS CAtUUED FORWARD 96,368 84,505 180,873 213,879 The notes fomi pArt of these financial staten)enls Page 9
Churn Project Umited Bilanee Slieet 31st July 2024 2024 Total fund5 2023 Total funds Unrestrlcted rund Restricted funds Notes CURRENT ASSETS Debtors h a¢ bank ]d In haThd 7,879 97,108 500 85,577 8,379 182,685 10,538 215,132 104,987 86,077 [91,064 225,670 CREDITORS Amounts falling due within one year {8,619) (1,572) (10,191) (11,791) NET CURRENT ASSETS 96,368 84,505 180,873 213,879 TOTAL ASSETS LESS CURREIYT 96,368 84,505 180,873 213,879 NET ASSKTS 96,368 84,505 180,873 213,879 FUNDS Unreslrictsl fimd8 Restricted funds 96,368 84,505 86237 127,642 TOTAL fi UNDS 180,873 213,879 The charitable company is entitled lo exemption from audit under Section 477 of the Compames Act 2006 for ibe year ended 31st July 2024. The mcmbcts have nol required the ¢OmPally to obtaEn an audÉt of its fula1 ststemenls for the year eted 3 1st July 2024 in ordne¢ with Section 476 of the Companies Act 2006. Thg ttustees acknowledge their respongibilities for (a) ensuring that the charitable company keeps accounting records tilat comply with Sertions 386 and 387 of the Companies Act 2006 prepaLing financial statements which give u trne and fair view of the stale of aff&irn of the charitable company at the end of each financial ye&r and of its surplus or deficit for ea¢h finanoial year in accordance with the requirements of Se£tions 394 and 395 and which oth¢nvise comply with the requirements of the Companie8 ACÉ 2006 relating to fall¢l&L statements, 80 far 88 applicable to the cknritable company. (b) These fillallcial statements have been prepared in a¢¢ordance with the provisions applicable to charitable compftDies siibjeGt to the small compat]ies regim¢, The finaiicial st&tements were approved by the Board of Trustees gnd auihorised for tS8ue on . and were signed on its behalf by,. nts¢ The llOt¢s form part of Ili¢se financial statements Page 10
Churn Projcct Limited Notes to the Financlal Statements for the Yoar Ended 31st July 2024 ACCOUNTING POLICIES BASIS of preparlng the tlllallel1 ststements The fin4n¢ial statenTrnts of the charitable GomFdny, which is a public benefit ¢ntity under FRS 102, have be¢ll prepared in a¢Gord&nce with tbe Charities SORP (FRS 102) 'Accounting and RepDrtirng by CharitieB.' Statement of Reconjmended Praetice Rpplicable lo ¢hariti¢s preparing their accounts in a¢oordart¢e with the Fin&n¢ial RepoitinE Stsndard applicable ill the UK and Republic of Ir¢land (FRS 102) (¢ff¢cÈiv¢ l Janu8ry 2019),, Financial Reportin8 Stslldard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireld, and the Companie8 Act 2006. The financial statsm¢nt$ have been prepared under tbe bistorical cost oonvention. Income All income is recognised in the Stat¢ment of FillRncial Activiti&q once the chtirtty has entitlcrAent to the fitnds. it is probable tbat the in(YJm¢ will be Eyceived and the amount Can be rneasured reliably. E4)ellditure Liabilities are reColS¢a as expenditu as soon as th¢re is a legal or constructive obligation committing tlie charity tt> that expenditure, it is probable that a transfer of economic benefIts will bo required in 8ettlement and th¢ amout]t of the obligation can be naSured reliably. Expenditure is accounted for Oll au accruals basis and has been ¢tsSsIfd undEr headings that aggregate all Cost related to the category. Wt]cre costs cannot be directly attrAbuted to particular headuw they have been allo¢ated to activitie8 on a basis consistent with Ihc of reSoue8. Taxation The ¢harity is exempt from corporotion tsx on its charitsbLe activities. Fund accounting Unrwtrict¢d funds call be used in Accordance with th¢ Charitable objectives at the th'scretion of the trust8. Restrictsd funds catt only be used for particular restricted purposes within th¢ objects of th¢ Charity. Re8trictions arisewhen 8pecifJed by the donor or when fimds ar¢ ratsed for p&rticular restrict£d pu4se8. Furth. explauation of the naturn and puq)ose of each fimd is inoluded iti th¢ notes to the f]nancial slatemellts, Pellslon costs alld olher post-retlrement benefits The chIlable conwany operatss a defilled Contribution pension scheme. Contributions payable to the charitable company's }sIon 8¢heme are charged to the Statement of Financial Activities in the period to whith they T¢late, OTHER TRADING ACTIvrrIES 2024 2023 Fundraistng events Other income 14,040 5,398 4.656 19,438 4,656 Pag¢ll
Churn Project LtD)Ited Notes to the FinaiiciAI Statem¢n¢s- colltlnued for the Year Ended 31st July 2024 tNVESTM]INT INCOME 2024 2023 Lkposit Ount inter¢st 4.923 TRUSTEESI REMUNERATION AND BEI NEfiITS The were no ttusteeg MuneratiOn or other benefits for the yeftr ended 31st July 2024 nor for the year ended 31st July 2023, Trusteej, expenses There were no truste, ¢xpenses paid for the year ellded 31st July 2024 nor for tho year ended 31st July 2023. STAFF COSTS The average monthly number of employees during the yearwas as follows: 2024 16 21)23 l6 Employe¢s No employee5 rE¢¢ived emoluments in exce&8 of £60,000. COMPARATtVFS FOR THEI STATEMENf OF FINANCIAL ACTIVII'IES Unrestrlcted fund Restrleted fund Total funds INCOME AIW ENDowNTs FROM Donations and legacies 18,799 18,801 Charitable ielivltl¢s Family Services Employmcnt & Skills Ag¢ing Well Well Belng General ICrf),803 7,059 59,765 132.630 100,803 7,059 59,765 132,630 159,103 159,103 Other trath'ng activiti 4,656 4,656 Total 182,558 31M1,259 482,817 EXPENDITURE ON Charitable aetivltles Family Services Employment & Ski118 Ageing Well Older People Servtces Hardship Fund Well Being General 85,276 10,784 53,439 124 220 I 13,584 85,276 10,784 53,439 124 220 I l3,584 166,OSI 166,051 Totsl 166,051 263,427 429,478 NET INCOME Transfers between fund$ 16,507 {397) 36,832 397 53,339 Page 12
Churn Project Llmlted Notes to the Finanelal Ststements- continued for the Year Ended 31st July 2024 COMPARATIVES FOR STATEMENT of% FINANCIAL ACllVrtILS - et>ntlnued Unrestricted Restrlcted fund funds Total rullds Net movement IM fiinds 16,110 37,229 53,339 REI CONCtLIATION ofi FtiF4DS Total f(wds brought foNard 70,127 90,413 160,540 TOTAL FUNDS CARRIED FORWARD 86,237 127,642 213,879 DEBTORS: AMOiINTS FALLG DUE wrrHIN ONE YEAR 2024 2023 Trade debtors Otber debtors Accrued income Prepayments soo 5,625 125 2,129 799 5.625 519 3,595 8,379 10,538 CREDrroKs: AMOUNTS FALLING DUE WITIIIN ONE YEAR 2024 2023 Trade crediiDrs Social 5ecurtty and other tax&s Pension Fund Accru¢d expens 2,470 5,225 1,095 1,401 4,577 5,302 896 J,016 10,191 11,791 MOVEMENT IN FUNDS Net movement In funds Trsfer$ b¢tweell funds At 31ntt4 At 118/23 Unrestrlctsd funds Cleneral fund 86,237 10,131 96,368 Restrl¢ted funds Family Sorvice8 Ag¢illg Well Older P¢opk Services W¢ll Being The Natiottal Lottery Community Fund- RIC South W¢ liegion 40,182 40,105 467 35,476 (1,067) (29,133) 39,115 11,439 467 (467) (12,937) 22,539 11,412 IL,412 127,642 (43,137} 84,505 TOTAL FUNDS 213,879 (33.006) 180,873 Page 13
Churn Project Llmlted Note8 to the r(lllAn¢ft*l St&tsments - eontlnued for the Year Ended 318t July 2024 MOVEt MENT IN FUNDS . ¢otttinued Net frnovement in fills, included ill the above are as follows,. In¢omlng resourees Resourees expellded Movement in funds Unrestricted funds General fund 216,343 (206,212) 10,131 Restrl¢ted funds Family Services Ageing Well Well Being 86,749 23,300 135,347 {87,816} (52,433 } (148,284) (1,067) (29,133) (12,937) 245,396 (288,533} (43,137) TOTAL FUNDS 461,739 (494,745) (33,006) CompArAtives for movemellt In thnds Net ovement Ill funds Transfer$ between funds At 31r1123 At 118122 Unrestricted funds GeTheI fvnd 70,127 16,507 (397} 86237 Rthricted funds Employment &Skills Family Swvices Ageing Well Older People Service5 HarLship Fund Well Being The National Lottery Conununity Fund - IUC South West Region 3,327 24,654 33,780 590 222 16,428 (3,725) 15,528 6,326 (l23) (220) 19,046 398 40,182 40,105 467 (i} (2) 35,476 IL,412 11,412 90,413 36,832 397 127,642 T(YfAL FtINDS 160,540 53,339 213,879 Page 14
Churll Project Limited Notes to the Flnpdnclal Stte¢ts- contlnued for the Year Ended 318t July 2024 MOVEI MEpif IN FUNDS - condnued Comparative ll¢t movement in fund4 included in the above are a5 follows: Ineomlng resollrees Resour¢e$ exp¢nd¢d Movement In funds Unrestrleted funds General thnd 182,558 (166,05l) [6,507 Re&tri¢ted funds Employment &Skills Family Services Ageitig Well Older People Servic Hard8hip Fund Well Being 7,059 100,804 59,765 (10,784) (85,276) (53,439) (124) (220) (113,584) (3,725) 15,528 6,326 (123) (220) 19,046 132,630 300,259 (263,427) 36.832 TOTAL FUNDS 482,817 (429,478) 53,339 A current y¢at 12 months and prior year 12 montbs c(rnbined position is as follows: Net movement In fulld$ Transfer8 betsY¢en fullds A¢ 118122 31nll4 urtrICted fund5 eral rtd 70,127 26,638 (397) 96,368 RoBtrlcted futEds Employrnent &Skills Family Services Ag¢ing Well Older People Servic&s HÉlldship Fulld Well B¢ing The National Lottery Con)nwnity Fund- RIC South West Region 3,327 24,654 33,780 590 222 16,428 (3,725) 14,461 (22,807) {123) (220) 6,109 398 39,115 11,439 466 (467) (2) 22,539 11,412 11,412 90,413 (6,305) 397 84,505 TOI'AL FUNDS 160540 20,333 180,873 Page E5
Churn Project Llmtted Notes to the finaiicial St4tenients- condnued for the Year Ended 31st July 2024 MOVEMENT fi UNDS- contlnu¢d A cunEnt year 12 months and ptior year 12 moiiths conthifted net movenient in Thllds, iiicluded in the above are as follows: Ineomlng resoui'¢e& Resources expended Movement in fund8 Unve8tr1cted funds General fimd 398,901 (372263) 26,638 ReBtricted funds Employment &Skills Family Services Ag¢ing Well Older People Services Hardship Fund Well B¢Éng 7,059 187,553 83,065 (10,784) (173,092) (105,872) (124) (220) (261,868) (3,725) 14,461 (22,807) (123) (220) 6,109 267,977 545,655 (551,960) (6,305) TOTAL FUNDS 944,556 (924,223) 20,333 io, RELATLD PARTY DKSCLOSURES Theie were no rellal party tranwtions for the Ye ettded 3 1st July 2024. Page 16
Churn Project Llmlted Detalled Statement of14nanciHI Actiyilles ror the Ye4r Knded 31st July 2024 2024 2023 INCOME AND E14DOWMENTS Donfttlons and legAd¢s Donations 21,955 18,801 Other trndixig a¢tlrf(I Fundrat8ing events Other iiicome 14,040 5,398 4,656 19,438 4,656 Investm¢nt In¢ome D¢posÉt account intsr¢st 4,923 ChRrltsbl¢ a¢dvltles Grants 415,423 459,360 Total Incomlng resources 461,739 482,817 EXPLNDITURE Charltable a¢tlvllles Employment & Skills Family Services Ageing Well Hardship FuThl Well Beillg 10,784 85,276 53,563 220 113,584 87,816 52,433 148,284 288,533 263,427 Other Fundraising events 7,470 Support costs Flnance Bar]k chaw8 691 446 Other W&ge$ Social securtty Penslons Rates and water Insurance Light and heat Telephone Postsge and stationery Sundries Rent Canied ford 323,997 20,071 5,727 528 2,097 3,209 2,202 2,222 3,306 28,500 391,859 282,194 15,573 6,092 343 2,190 3,472 1,430 1,718 1,477 25,640 340,129 Thi5 page does not fomi part of tbe StatOry finan¢RI statsments Pago 17
Churn Project Limited Deta11 Statement of Fluanchll Aetivities for the YeAr Ended 31$t July 2024 2024 2023 Other Brought foThvard Travel Newsletter costs Computer costs Office ¢quipmenl Premises expen8es Tratning, coacbing & m¢ntoiing Covid shopping Employee FKnefits 391,859 479 1040 7,881 6,480 14,047 1,651 340,129 1,700 2,421 11,016 1,121 7,336 50 855 943 425,380 364,628 Other 2 Wages allocated to r&stiiotsd Social security allocated to r estricted Pensions ojlocated lo restri¢t ed Advertising (213,147) (15,507) (3,313) I,IN)2 (199,553) (14,644) {4,446) 6,352 (230,965) (212,291 } Governance eosts Accountancy fe Professional fees 900 2,736 900 12,368 3,636 13,268 Total resources expended 494,745 429,478 Net (expendltureylncome (33,006) 53,339 This page does not fonn part of the Statutory fmancial 5tatement8 Page 18