ALL ABOARD SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022 Company No: 02571767 Charity No- 1125462
'ALL ABOARD, SHOPS LIMITED REPORT AND ACCOUNTS CONTENTS Paga Directors, and Trustees, Report Independent Auditor's Report 8-10 Slatement of Financial Activities Balance Sheet 12 ststement of Cash Flows 13 Notes to the Accounts 14-21 Page 11
'ALL ABOARD, SHOPS LIMrrED DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022 The trustees are ple8sed lo present their annual directors, report together with the financial slalemenls of the chaTty for the year ended 3181 December 2022. The finanGial statements ¢omply with the Charities Act 2011. the Companies Act 2006, th8 Mémorandum 8nd Articles of Association, and Ac¢ounling and Reporting by Charities.. Statements of Recommended PraclKe applicable lo charities preparing their accounts in accordance with the Financial Reporting St8nd2rd applicable in the UK and Republic of Ireland {FRS 1021 leffeclwe 1 January 2019}. OUR PURPOSE AND ACTIVITIES The principal aims and objectives of the Charily are lo operal? retail shops. The profrf(s from such operations beiE)g donated for the benefit of UK Charities and lo promoté thè ideals of recycling and working for a cleaner and heallhter environment. 1. The prolecltin and preservation of the environment for the public benefit is.. al the promolion of waste reduction, re.uge reclamation. use of recycled products and the use of surplus items bl advancing th& education of the public about all aspects of waste generation. waste management and waste re-cycling 2. To make grants lo such registered charities in accordance wilh the law for England and Wales, as the Trustees see fil. The role and contribution of volunteers Approximatety 204 volunteers regularly contributed lo thE work of the ¢harily during the year.. working in a range of a¢livilies both in the shops and the head offe lo support and complement our professional slaff. All Aboard provKlgs conslructive volunteer opportunities fc)r approximately 204 volunteers many of whom are.. newcomers lo the UK who wish lo bèller their Engllsh and understanding of our culture as they prepare themselves for paid employment, mothers Taisirig children with some spare time, people who have taken a career break and want lo ielurn to the working Nvorld, retirees looking lo'give back lo society,. school students lover 16 years old) gaining wotk experience. progressing their Duke Df Edinburgh Certificates, improving their UCAS applications and building a CV. people who have suffered long lemi ill health and wish lo return lo the woiking worfd to bu1 on their confidence or anhanca their CV. Public Benefit statement In shaping our objectives for the year and planning our a¢livilies, Ihe trustees have considered the Charity Commission's guidance on public benefit. including the guidance 'publiG benefit,. running a charity IPD21. The achEvernenls and adivilies above demonslrale the public benefit arising through thè Charity's activities. Grant making policy The charity has sel up a small ¢ommillee ol Iruslees lo consider applications Irom grant seeking registered charities. All applications musl complete a short questionnaire rèquesting some basic information on their slalus, financial position and use of the grant requested, if successful. The Gommillee foEuses on Ihe smalle¥ charities, which provide a valuable service lo the community. Our poli¢y is lo providè funds for smaller andlor locally based charities whose crilÈrB accord with the objects ol our Bonstilution. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document 'All Aboard, Shops Limited is a company limited by guarantee and not having a capital divided by shares. The company was in¢orporaled on 4th January 1991 and registered as a charity on 11th August 2008. 11 is a registered charity consliluled 8S 8 limited company under the Memorandum and ArtleS of Association. The Charity'8 registration number is 1125462 and thè company registration number is 02571767.
'ALL ABOARD, SHOPS LIMITED DIRECTORS. AND TRUSTEES, REPORT (Contld) FOR THE YEAR ENDED 31ST DECEMBER 2022 Recrultment and appointment of Trustees As sel out in the ArtleS of Association, the Chair of the Trustees is nominated by existing Trustees. The Directors of the organisalion are also the Charity's Trustees for the Purposes ol cherity law. The Board ol Trustees has the power lo appoint additional Trustees as Il ConSerS fil to do so, The Trustees have no beneficial interest in the Gompany other than as members. The Trustees are also the directors of tho company. All of the Trustees are members of the company and guarantee lo ¢ontribule £100 each in event of nding up while they are a trustee or within 12 months of them ceasing to be a trustee, Trustge Indu¢llon and trainln9 The Trustèes recognise the importance of maintaining a good working knowledge of Gharily and company law and b&st practis8 by reading appropriate publications and 8llendance al chaTily and company courses run by outside providers. New Trustees are given copies of the MemDrandum and Articles of Association. Organisation The Board of Trustees, which ¢omprises seven members, administers thè Charity. The Board meets periodically to review the affairs of the Chaiily and to consider strategies and operations. To facililale aclivilies, the Board have delegated aulhorily. within tems ol delegation approved by the Trustees, for operational mallers including financial, employment and other related adivilies. All decisions relating to strategy and policy are made by the Board of Trustees. Key management personnèl remuneratlon The remuneralic>n of the CEO is decided by the trustees and the remuneration of tha key management pèrsonnel is determined in the first In51an¢e by the CEO and subsequently approved by the Board. There 8re regular appraisals between the CEO and key personnel during whh individual pèrfo¥manGe criteria are established and a mechanism for measvremenl agreed. Related Parties The Charily does not have transactions with relal8d parties or other charities and organisalions with which it co- operates In pursuit ol ts charitable obje¢lives. Risk management The Trustees have a risk tmanagemenl strategy which ¢omprises: HIO & ShDP H&S Risk Assessments are Garried out by an external H&S company twicè a year. Meetings with the H&S company and management team are held regulaily lo reVW risk assessment findings and act on findings. Manual Handling - Staff 2nd Volunteers are trained in manual handling, trips. slips and falls by our external H&S company and regulaT updates 8nd refresher training is undertaken. Safeguarding we have an up-lo-date SafeguaTding Policy that is regularly reviewed and updated by our Employee HR provider. Data Proleclion-wè have a dedated Data ProteGlion Officer lo ensuie wè are Data & GDPR complianl. The charity has been audited by the Data Pr(>lection Officer and his findings have been aclioned by the Senior Leadership Team and shared wtlh the Chairman of the Board. IT Systems -we have a dedicated IT provider who manages and oversees the majority of our IT systems, emails and online servi¢6s remotely. Disaster Recovery Plan-foliowing the Covid pandemic and the subsequent closure of our shops and our HIO we now have in place a Disaster Recovery plan that allows key HIO personnel lo work remotèly and acGess business information on a cloud platform in the everbt of a lire or similar disaster to the HIO building or infra51iu¢lure so that the day lo day running of the charity Gan continue uninlerrupled. Our HIO telephone system can be redirected lo a dedicated mobile phone. so oui donors, customers and staff have communication with All Aboard and key personnel. Thè Board of Trustees number seven. all of whom Come with exlensive 8xperience in the retail. professional and comme¥cial f1elds. The Board holds regularty meolings Ihrouuhoul Ihe year with the CEO and Executive staff.
'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT (Conud) FOR THE YEAR ENDED 31ST DECEMBER 2022 ACHIEVEMENTS AND PERFORMANCE 2022 has proved lo be our most suc¢essful trading year yel lor the All Aboard Charity Shops. This success allowed the charity lo make ils largest yearty morbelary dtslribulion since its inceplion some 30+ years ago. We were delighted lo be able lo make giants lo over 70 different charities lo help support them and their vital Work,. after all '¢t's all about the charities we SUPPDrt'. The SUC$$ of our shops was down to the incredibly hard work of our staff and volunteers. This was couplecl with the strategic decision we look in 2021 to change the shop management structure which has given the shop teams structured, one to one support and largeled management. We have invested in staff training in the areas of ¢usloffler service, conflict management resolution, stock merchandising and visual merchandising which has seen customer satisfaction scores through myslery shopping surveys increase a¢ross the shop pori101. This training continues to pay off and we are humbled and delight that, for the Second ypar running, a member DfAII Aboard Charity Shops staff has made the final three IDr the coveted Charity Retail Association Retail Employee of the Year Award held each year al the CRA Conference. Whilst we did not win the outright award, this is a national accolalle and we were up against some of the bigoesl charity retailers in the UK. so for our staff lo be ranked so highly is a huge achievement. Retall touchpolnts & brandlng FollowFng a rebianding exercise a few years back. we have almost completed the roll out of new fascia's across the shop portfolio with the remainder due for completion by the end of 2C123. We were able to open one new shop in 2022. This shop was the first to adopt a new. brighter look and feel by adopting the refreshed brand idenlily throughout the shop's inlerior. Southgale had been our radar for a number of years and despite hug8 8fforts by the Board and Senior Le8éèr8hip Tèam lo aequir@ a silè, il has taken the best part of 14 months lo gel an 'AII Aboard, presence in the distriGt. We continue lo aclivety look for new siles. This new design concept will be used for all new shops as well as refits, the first of these being our East Finchley shDP which recewed a major refil in Q4. Aside from this new, vibrant look and feel, we piloleci a new merchandising layout which maximises selling space and shop presentation. Feedback from the shop team and customers has been posilThie and with a little Tefinemenl, gives us a solid lemplale for future filouls. A strategic decision lo develop our'bricks and clicks, offering in 2021 continues ID bear fruit, with our eBay dèpartment having had ils most successful year ever with record income and record nel proffi. This has had the particular advantage of raising awareness and generating sales from new audtences. even geneTaling sales from overseas, that would not have beèn possible befoie. FINANCIAL REVIEW Thè Statement of tinancial Acltvilies showed a nel surplus, after dislribulions, of £124,243 12021 266,760} for the year and reserves sland al £883.39512021 - £759,152). During the year 2022 the Charily made donations of £258.454 {2021- £200,000) lo UK Charities. Principal Funding Sources Piincipal funding Sources are sale of donated goods through the Charity's Shops. Investment powers and policy The Memorandvm and Arti¢les of Association aulhoris¢s the Trustees lo make and hold investments using the general funds of Ihe Charity. The Iruslees have the power lo invest in any way that they see fit. Reserves pollcy Al the Balan¢8 Sheet dale, the charity's rès8rves wère £883,395. Th8 Twstèes havè sèl a minimum level of reserves al £400,000, which is equivalent of 2 months overheads on the basis of the completed reorganisalion. Thi5 will be reviewéd al the next year end. Page 14
'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT (Conud) FOR THE YEAR ENDED 31ST DECEMBER 2022 Sustainability All Aboard Charity Shops is a professional and environment811y aware organisalion that acknowledges the impact ils operations may polènlially have on the environment and so we are continually monitoring our energy use and associated greenhousè gas emissions. We aim lo work lowaTds environmental best practice and minimis8 any impact on the environment wherever possible. In so doing, we have taken the following approach to our practices- Consldering the effect that our operations may have on the local and wider community. Taking action to eliminate or reduce, as far as practicable, any potential adverse environmental impacts. Behaving in a COnserate and socially responsible manner. Ensuring effective and expedient incident control. inv@sligalion, and Teporting. On a micro level, we have already slopped the procuremenl of single use plastics. continue our migration from paper- based to digilal-firsl reporting and communications and reducing travel I facilitating car-shariny where possible. On a macro levèl, we alsD continue lo reduce our carbon footprint by moving lowar4s more efficient energy use across our shop portfolio and haulagè. Due to the signifi¢anl increase in wholesale price of energy in early 2022 we made the decision lo convert all traditional lighting sources across the charity lo LED bulbs. Despite the sizeable initial investment to replace the "legacy. fluorescent bulbs, we are projècling a substantial cost saving on oui annual eneigy bills, a reduction in heal emissions as well as being able to prestrnt a mDre unlform Ilght displacement across each shop. e have already taken the first steps in moving our fleet of 6 vehlcles13 x diese1 vans & 3 x petrol self-charging hybrid vehicles) lo all eleGtri¢ power, the first of which is expected lo be in service by the end Df May 2023. As each vehicle's lease leTm ends it will be replaced with an equivalent electric vehicle and we expect to operate a fully electric fl88t by the end of 2025. Working with our new recycling p8rtner 'Chorce', we are now able ID beller estimate our carbon saving across the shops. hèad office and warehouse operations. FTDM the 1 st January 2022 10 31st DeGember 2022, All Aboard Charity Shops estimate a total reduction in landfill waste of 3.374.294.42 kg.C02erronne - Carbon WARM. normalised vs landfill Ikg.C02ellonnel, comprising.. Textiles- 215.340 kg Shoes-41,162 kg Books- 64,407 kg Household Items- 25.368 kg Electrical Item5 1.158 kg FUTURE PLANS AND DEVELOPMENTS To open a minimum of 2 new shops in 2023. To continue lo develop and embed our volunteer strategy into our organisalions by pulling volunteers al the heart of everything we do. To raise the profile of our charity with various stakeholders including chaiilies that we support, customers, donors and the general public to encourage and help raise mofe donations and therefore income. To continue the development and training of all our staff alld volunteers so each individual has the opportunity lo develop Ihelr skills. This means we will have a happy, skilled workforce with high retention rales. To look al nèw income opportunities using a pop-up shop model. The continued development of our CRM system across all arèas ol our organisation lo streamline staff and management time. Not onty will this bling ¢Dsl savings, bul will also improve relationships wilh donors, customers, staff and volurbteers. To continue to develop strongei reciprocal lies wllh our many charity partners for the benefit ol both organisalions. Page 15
'ALL ABOARD. SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT (Conud) FOR THE YEAR ENDED 31ST DECEMBER 2022 REFERENCE AND ADMINISTRATIVE DETAILS Company Number.. 02571767 Charity Number. 1125462 Directors and Trustees: l H Brecker Chair B A Finch Resigned on 14 October 2021 R L Lipson HJRose M H Wernicke N R Kelsey D Ordman DRShaw R Grossman J l Leimer Resigned on 01 January 2022 Appointed on 25 Augtssl 2021 Secrètary: B Shirion Senlor Leadership Team: A Haynes Chief ExÈculive Officer B Shirion Financial Controllèr S Kostick HR Manager Registered Offlce: Stella Lucas House, Unil 10. Colne Way Court, Colne Way, Wallord WD24 7NE Audltors: SKS Audit LLP. 3 Sheèn Road, Richmond Upon Thames, TVV9 1AD Bankers.. Nalwesl Bank Plc, Tavislock House. TavisloGk Square. London WC1 H 9XA TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Trustees (who are also (iireclors of 'AII Aboard, Shops Limited for the purposes of company lawl are responsible for preparing the Trusteès, Annual Report the financial statements in a¢¢ordance with applicable law and Uniled Kingdom Accounting Standards (Uniled Kingdom Generally ACpIed Ac¢ounting Practice}. Company law requires the Trustees lo prepare financial 5talemenls for each financial year. Under that law the Trustees have elected lo prepare the linanGial statements in accoréance with Uniled Kingdom Genèrally Accepted Accounting Pra¢ti¢e {United Kingdom Accounting Slandards and applicable lawl. Undei company law the Trustees musl not appfove the financial slatemer¥ls unless they are satisfied that they that give a true and fair view of the stste of affairs of Ihe company and ol ils income and expenditure for that period. In preparin9 these financial statements. the Twslees are requirèd lo: select suilable aCUnting policies and then apply thèrn ¢onsistenlly. Observe the mèlhods and principles in the Charities SORP. make judgements and eslimales that are reasonable and prudent. slate whether applicable UK Accounling Standards have been followed, subject to any material departurès disclosed and explained in Ihe financial slatèmenls., and prepare the financial slalemenls on the going concern basis unlèss it is InapprOprle lo presume that the charitable company will continue in business. The Tru51ees are responsible for keèping adequate accounting records that disclose with reasonable accuracy 2t any lime the financial position of the charitable company and enable them lo er)sure that the financial slalemenls comply with the Gompanies Act 2006. They are also responsible lor safe9uarding the assets of thts ¢haiilabk company and hence for 18king reasonable steps foi the prèvanlion and delecliDn of fraud and other iriegularilies. The Iru5tees are responsible for mainlenan¢e and integrity of the corporate and linanctal information included on Ihe charitable company's website. Legislation in the United Kingdom governing the Pfep8r811L)n and dissemination of financial slalemenls may differ fiom legislation in other jurisdictions.
'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT (Contld> FOR THE YEAR ENDED 31ST DECEMBER 2022 STATEMENT OF DISCLOSURE TO AUDITOR In 90 far as Iht Tnjsleés are awwe.. IheTè is no Felevanl audit informal)n of which Ihè chaTilabl¢ company'9 auditor 15 unaware., and thè TTuslees have takèn all Steps that they ought lo have taken lo make themselves aware of any felevant audit informalion and lo establish that the chaiity's auditor aware ol that infomialion. AUDITORS A resolution will be proposed and agreod at the Annual General Meetlng that SKSS AL¢dii LLP be re-appointed as audiloTS of the Charity for thE ensuing year. The Teport of Ihe directors ha5 be8n prepayed taking advantage ol the sm811 companles, &xempli¢)n of $tiOn 415A ol the Companles Acl 2006. APPRO OAR ND SIGNED ON rrs BEHALF BY: HOWARD BRECKER HAIR OF TRUSTEES 171h May 2023 Page 17
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF 'ALL ABOARD. SHOPS LIMITED Opinion We h8ve audited the financial slalemenls of'AII Aboard. Shops Limited foir the year ended 3151 December 2022, whtch comprise the Slalemenl of Financial Activities (summary Incomè and Expenditure Accounll, balance shEel and notes lo the financial slalemenls, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applKable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinwJn the financial slalemenls.. give a true and fair view ol the sl81è of the ¢harilable company's affairs as al 3151 De¢ember 2022 and of its incoming resources and application of resources, including ils income and expenditure. for the yèar then ended., have been properly prepaied in accordance with Ur)iled Kingdom Generally Acceptéd Accounting Practice., and have been prepared in accOrL1an with the requirements of the Companiès Act 2006. Basis for oplnion We Conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUK}l and appli¢able law. Our responsibilitie5 under those standards are further described in the Auditor's responsibilities for the audit of th8 financial slalemenls secliDn of our report. We are independent of the company in accordance w¢lh the ethical requirements that ale relewanl lo our audit of the financial slalemenls in Ihe UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the aLsdil evidence we have obtained is Sufflent and appropriate to provide a basis for our opinion. Conclusions relatlng lo going concern In auditing the financial slalemenls, we have concluded that the directors. use of the going concem basis of a¢¢ounling in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not entIfIed any malefial uncertainties relaling lo events or conditions that, individually or Co1ctIVelY, may cast Signifi1 doubl on the entity's ability lo continue as a going concern lor a period of al least tWee mDnths from when the financial slalemenls are authorised for issue. Our responsibilÉties and the responsibilities of the directors with respect tD going concem are described in the relevant sections of this report. Other inforfflation The other information comprisès the infoimalion included in the annual report, olher than the financial statements and our audilorfs reporl thereon. The directors are responsible for the other information_ Our opinion on the financial slalÈmenls does not cover the other information and. except lo the extent olhewise explicitly slated in Duf Teport, we do not express any form of assuiance conclusion Ihereon. In connection with our audil of the financial slalemenls, our responsibility is lo read the other information and, in doing $0. considei whether the other information is malèrially inconsistent with the financial slalemenls or our knowledge obtained in the audit or otheiSe appears lo be materially misstated. If we identify such material inconsistènciès or apparent material misslalemenls, we are required lo determine whether there is a material misslalemenl in the financial slalemenls or a material misslalemenl of the other informaliDn. If, based on the wc>rk we have perfomed. we conclude that there is a material misslalement of this other information we are required lo report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companies AGt 2006 In our opinion, based on the work undertaken in the course of Ihe audit.. Thè information given in the diieclors, report for the financial year for which the financial slalemenls are prepared is Consistent with th¥ financial slalements.- and The direGtor5' report has been prepared in accordance with appli¢able lagal rèquirements. Page I
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF (Contld} 'ALL ABOARD, SHOPS LIMITED Matters on which we are requir¢d to report by exception In thè light Of the knowledge and understanding of the company and ils environment obtained in the course of the audit, we have not identrfied material misslalemenls in the directors, report. We have nothing to report in resptscl ol the following mallers in relation lo which the Companies Act 2006 requires us to report lo you if, in OUT opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from blanches not visited by us- the financial statements are not in agreement with the accounting rècords and retums., certain disclosures of trustees, remuneration specified by law are not made., we havé not received all the infoimalion and explanations we require for our audit". the trustees were not enlilled to prepare the finanGral slatemenls in aoIance with the small companies regime and lake advantage of the small companies exemption in prèparing the Directors, and Trustees, Report. Responsibilities of directors As explained more fully in the directois, responsibilities slalements sel out on pages 5 and 6, the directors are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the diiectors determine is necessary to enable the preparation of financial slalemenls that are free from material mi55tatemenl, whèther due ID fraud or error. In prepa¥ing tha financial $18lemenls, the directors are responsible for assessing the company's ability lo ¢ontinue as 8 going concern, disclosing, as applicable, malleTS related to going ¢oncern and using Ihe going concern basis of accoLfnting unless the direelors either intend lo liquidate the company or lo cease Operat1$. or have no realistic allernalive bul lo do so. Audltor's rèsponslbllities for the audit of thè financlal statements Ou¥ objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl. whethèr due ID fraud or efror, and lo issue an auditor's report that inclucles our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accoidance with ISAS {UKI will ahMays delecl 8 material misslalemenl when it exists. Misstatements can arise from fraud or error and are con$idÈrÉd malerial if, individually or in the aggregate, they couw reasonabty be expected to influen¢e the economic decisions of users taken on the basis of these financial stalemenls. Ifregularilies. including fraud, are instances ol non-complian¢e with laws and regulations. Wè dèsign procedures in line with our responsibilities, outlined above, lo detect Tnalèrial misstat6menls in respect of iriegularilies, including fraud. The extent to whlch our prwedures are capable of delecling irregulttrilies. including fraud, is detailed belDW'. We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk Df acts by the company that were contrary lo applicable laws and regulations, including fraud. INe discussed with the Directors the policies and proCedUS in place regarding compliance wtih laws and regulations. We discussed amongst the audit team the identified laws and regulations and remained alert lo any indications of non-compliance. During the audit we focussed on laws and regulation5 which could reasonably be expected lo give rise to a material misslalem?nl in the financial slalèmen&, including, bul not limited lo, the Companies Act 2006, UK lax legislation. Charity Act 2011 anLI SORP 2019. Our lesls included agreeing the financi81 slatemenl disclosures lo underlying supporting do¢umen121ion and enquiries with management. Our procecfures in rèlation lo fraud included bul were not limited lo.. inquires of management whether they have any kn(Mledge of any aGtual. suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined th81 the piin¢ipal risks related to posting manual journal entries lo manipulate financial performan¢e and management bias through judgements in aocounling estimates. We also addressed the risk of management ovèrride of internal controls, including le51ing journals and appropriateness of other 6nlries in the nominal ledger,. ieviewing transactions around the end of the reporting period,. and evaluating whether there was evidence of bias by the directors Ihat represented a risk of material misstatement due lo fraud.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF {ConUd) 'ALL ABOARD, SHOPS LIMITED Because of the inherent limitations of an audit, there is a r18k that we will not delecl 911 irregularities, including those leading lo a material misslalemenl in the financial slalements or r¢on-compliance with regulation. This risk increases the nKJre that compliance with a Saw or iegulalion is removed from the 8venls and transactions reflected in the financial slalemenls, as we will be less likely to become aware of instances of non-compliance. The risk ts also greater regarding irregularities occuriing due lo fraud ralher than error, as fraud involves intentional concealment. forgery, collusion. omissKJn or rnisrepresenlalion. A further description of our responsibilities for the audit of the financial slalemenls 18 located on the Financial Reporting Council's website al www.frc.or .uklauditorsres onsibili118s. This d&scriplion fomis part of our audilorfs report. Use of OUT report This report is made solely to the company's members, as a txxsy, in a¢¢ordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the company's members those mallers we ale required lo slate lo them in an auditor's report and for no other purpose. To the fullest exlenl peimilled by law, we do not accept or assume responsibility lo anyone olhei than the company and th& company's members as a body. for our audit work, for this ieport, or foi the opinions we have formed. JAMES FOSKETT Isenlor Statutory Auditor) for and on behalf of SKS AUDIT LLP CHARTERED ACCOUNTANTS STATUTORY AUDITOR 3 SHEEN ROAD RICHMOND UPON THAMES TW9 1A0 25 May 2023 Page 110
'ALL ABOARD, SHOPS LIMITED STATEivfENT OF FINANCIAL ACTIVITIES SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2022 Unrestricted Funds Notes 2022 2021 Income Grants, donalic>ns and legacies 184,433 184,433 632,963 Income from other trading a¢livilies 3,144,290 3,144,290 2,004,732 Investment income 1,250 1,250 22 other income 27,224 27,224 300,000 Total Income 3,357,197 3,357.197 2,937,717 Expènditure Cost of raising funds 2.974,500 2,974,500 2.470.957 Expenditure on charitable activitS Total expBnditLtre 258,454 3,232,954 3,232,954 258.454 200.000 2,670,957 Net incomèllexpendlturel and net movement In funds for the year 124,243 124,243 266,760 RecOnClatfoR of funds Total funds, brought lorward Total funds. carriod foNard 759,152 883,395 759,152 883,395 492.392 759,152 Thè Slalemenl of Financial Activities also complies wsih the Tequiremenls for 8n income and expenditure aonI under the Companies Act 2006. CONTINUING OPERATIONS None of Ihe company's activilies were acquired or discontinued during thè 8bove financial peiiods. TOTAL RECOGNISED GAINS AND LOSSES The company has no recognised gains or losses other Ih8n the above movement in funds for the above financial periods. The notes on pages 14 10 21 foFm part of these accounts. Page 111
'ALL ABOARD. SHOPS LWMTED BALANCE SHEET AS AT 31ST DECEMBER 2022 2021 FlThl assets Tanglblo fixed assets 1Z 261,446 165,QOf cUmDtasts 43 146,098 736.252 a82,350 434,954 384,768 819.712 Debtors Cash at bank an(1 In hand Liabllitieg cdI1055l1ln9 duewlthln oneyear 14 1247.839) (205,5481 634.511 614,174 Net turrentas$ets (20.0231 Cre¢rrtor8 dlling due aftei or year 14 112.562} 883,396 Netassets Thefunds •1thg cttsrlty 883,3 759,152 Unrestricted funds Total charlty fvnd9 16 Tho Trustees have Frepared accounts In atCOTdance wth Section 398 of Ihe Gompanths Aet 2008 Ènd Secllcm 138 of the ChaHlt85 Act 2011. These accounis are pRpwed In accordance wilh thè special prow*on5 01 Part 15 ol Ihe ComaAle$ Acl relthg to small comp3tsi95 and con8titut• th8 annual occouDts requiRd by the Companies Act 20C6 and are forGkculabonto members of th8 Cornpany. These accounts were approvèd by Board ol Dw£ctots and TnJste05 on 17th Z023 and weFe signed oft Its b¢h811 by.. - HOWARD BRECKER . JEFFREY LERVAER Company Registration Mo: 025T1767 Tho notss on pages 14 10 21 form partofthese accounts. Page 112
'ALL ABOARD, SHOPS LIMITED STATEMETrTh OF CASH FLOWS FOR THE YEAR ENDED 31ST DECEMBER 2022 Notes 2022 2021 Cash generated from operating activitiès 18 516.447 156,068 Cash flows from invèsting aclivltles Interest incorne Purchase of tangible fixed assels 1,250 1164,873} 22 139,2561 Cash provlded by I (used In) Investing activities 163,623 39,234 Cash flows from flnanclng activities Interest on bomwing 11,3401 1447) Cash used in financing activitips 1,3401 447 Increase I Ideuèasel in cash & cash equivalents in the year 351,484 116,387 Cash & cash equivalents al the baginning of the year 384.768 268,381 Total cash & cash equivalents at the end of the year 736.252 384,768
'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022 ACCOUNTING POLICIES 1.1 Basis of preparatlon of a¢¢ounÉs Th8 financial slalemenls have bèen prepared in accordance with Accounting and Reporting by Ch8rfties'. Stslemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191 (Charities SORP {FRS 1021}, the Financial Reporting Standard applicable in the UK an4 Republic of Ireland IFRS 1021 and th8 Companies Act 2006. Thè Chaiily meets the definition of 8 public benefit entity under FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amobunls in Ihese financial slalemenls are rounded lo the nearest £. The accounts (financial slatemenlsl have been prepared under the historical cost nvention with items recognised al cosl or Irans8clion value unless otherwise staled in the relevant notels) to these aGcounls. 1.2 Preparation of accounts on a going concern basis The Charty's Financial Statements show nel surplus 01 £124,243 for the year and free reserves of £634,511. Having regard lo the level of reserves and the ongoing level of expenditure against unreslricled funds in conjunGlion with the development of the organisalion's aGlivtty in the wming year, the Iru51ees are satiSfd that the accounts should be prepared on a going ¢on¢ern basis. 1.3 Income Income is recognised when the CharÉty has enlillemenl lo the funds, any performance condiliDns allachecl lo the ilemlsl of incom& have been mel, it is probable that the income will be re¢eiv?d and amount can be measured reliably. al Income Teceived by way of donalions and legacie5 are included in full in the Statement of Financial Activities when received, Lsnless they relate lo a specified future period, in which case they are deferred. bl Legacies enlillemenl is taken as the earlier of the dale on which either.. the charity is aware that the probate has been granted, the eslale has be&n finalised and notification has been made by the execulorls} to the Charity that the distribution is made. or when 8 distribution is received from the estate. No legacies were received during the year. cl Interest on funds held on deposit is included when receNable and the amount can be measured reliably by the Gharily,. thi5 is normalty upon nolificalion of the inleiesl paid or payable by the Bank. 1.4 Donated goods Donated goods for resale are not recognised on receipt. Instead, the value lo the charity of the donated goods sold is recognised as income when sold. Eslimaling the fair value of donated goods for resale is impractical because of the low-value items reGeived. The proceeds of sale are calegorised as 'lnGome from other trading activities, in the Stslemenl of Financial Aclivilies. 1.5 Volunteer5 and donated seNices and facillties Donaled professional sery1s and donated facilities are recognised as income when the charily has conlrol over the item, any conditions associated with the donated item have bepn mel, the reIpl of economic benefit from the use by th8 charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP {FRS 1021, the general volunteer lime of the Friends is not recognised and refers lo the trustees. annual report for more information 8boul their conlribulion. On receipt, donated professional services and dDnaled facilities are recognised on the basis ol the value of the gift lo thè charity which is the amount the charÉty would have been willing lo pay lo obtain services or facilitS of equivalent econom benefit on the open market., a corresponding amount is then re¢ognised in expenditure in thè pariod of rècèipl. No such donations weré rèc8iv8d during Ihè year. 1.6 Expenditure recognition Expenditure is recognised on an accrual basis as a liability 15 incurred. Expenditure is Classifi undÈr th8 following activity headings.. al Cost ol raising funds comprises the cost of seeklng donations and legacies and the costs of trading lor fundraising purposes including the Charliy's shops.
'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (ConUd> ST FOR THE YEAR ENDED 31 DECEMBER 2022 bl Expenditure on charitable activities comprise the making ol donations ID other chariti8s. Donations are recognis&d as a cost when the Board of Trustees approve the lolal donations for the year. 1.7 Allocation of support ¢o$l¥ Supw)rt costs are those functions that assist the work of the charity bul do not directly undertake charitable aclivilies. Support ¢osls include baGk-Dffice costs. finance, personnel. payroll and govemance costs which support the charity's aclivilies. These costs have been allocated between cost of raising funds and expenditure on charitable aclivilies. The basis on which support costs have been allocatèd are sel out in note 7, 1.8 Funds a¢¢ounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objecllves of the Charity. 1.9 OpeTating leases The charity classifies the lease of property as an opeialing lease. The rentals are charged to the Slatèmenl of Financial Activities on a slratghl-line basis 0v8r the lease duration. 1.10 Taxation The Charity is a registered charity and, therefore, is not liable for In¢ome Tax or Corpoiation Tax on income dtrrived from ils charitable aclivilies, as it falls within the various exemptions available to registered charities. 1.11 Tangible fixed assets Expenditure relating to tangible fixèd assets is expected lo be used over several years and where the asset exceeds £200, they are capitalised al cost and deprecialed over their estimated useful economic livès. Depreciation Is provided al rates calculated lo write off the cost or valuation of fixed assets, less their eslimaled residual value, over their expected useful lives on the following basis.. Short term lease and improvements Fixtures, fittings and equipment EPOS System Over period of lease 2010 nel book value Over 5 years 1.12 Cash at bank and In hand Cash al bank and in hand includes cash and short-lerm cash deposits. 1.13 Debtors Trade and other debtors are recognised at the selllèment amount due after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounls due. 1.14 Creditors and provlslons Credilois and provisW)ns ale recognised where the charity has a pr8senl obligalion resulting ffom a past event that will probably result in Ihe transfer of funds to a third party and the amount due lo sellle the obligation can be measuied or eslimaled reliably. Creditors and provisions are normally retognised al Iheil selllemenl amount after allowing lor any trade discounts due. 1.15 Financial instrumants The Trust only has financial assels and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al Iransaclion value and subsequenlty measured al their selllemenl value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.16 Judgement and key sourc8s of estimation uncertainty In the application ol thè company's accounting poliGie5, the Gharity is required lo make judgments. eslimales and assumptions about the carrying amount ol ass@Is liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on histori1 experience and other factors that ale considered lo be relevant. Actual iesulls may differ from these eslimales. The eslimalES and underlying assumplw)ns are reviewed on an ongoing basis. Revisions lo accounting eslimales arè re¢ognised in the period in which the eslimale is revised where the r?vision affects only Ihal period. or in the period of the ievision and future periods where the Tevision affects both current and future perttsds. Page 115
'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS IConUd} FOR THE YEAR ENDED 31ST DECEMBER 2022 1.17 Pansions The Charity operates a defined Gonlribulion scheme for the benefit of ils employees. Contributions payables ale chaTged lo the slalemenl of financial aclwily in the period they are pay8ble. GRANTS, DONATIONS AND LEGACIES Unrestricted 2022 2021 Individual donatlDns Government grants Gift aKI Fund raising income- Fun Run 2,345 2,345 2,301 532,689 97,708 264 182,088 182.088 The donations and legacÉes in 2021 tolalling £632,963 was all allribuled lo unreslricled funds. INCOME FROM OTHER TRADING ACTIVITIES Unrestrlcted 2022 2021 Trading income.. Turnover from donated goods 3,144,290 3,144,290 2,004,732 The trading income in 2021 lolalling £2,004,732, was all allribuled to unrestricted funds. INVESTMENT SNCOME Unrestrlctsd 2022 2021 Interest on cash dep0811s 1,250 1.250 22 The interest income in 2021 lotalling £22 was all alliibuled to unrestriGled funds. OTHER INCOME Unrestricted 2022 2021 Business Interruption settment 27.224 27,224 3DO,000 The other income in 2L121 lolalling £300,000 was all allribuled to unreslricled funds. In the Current year, Ihe charity has received interest on Business Inlerruplion claim for the loss incurred during the Covid-19 lo¢kdowns amounting lo £27,224 {2021'. £300,000). Page 116
'ALL ABOARD. SHOPS LIMITED NOTES TO THE ACCOUNTS (Convd) FOR THE YEAR ENDED 31ST DECEMBER 2022 ANALYSIS OF EXPENDITURE ON CHARITA8LE ACTIVITIES Charlty shops Donations 2022 2021 staff costs Shop costs Charitable donations (see note 8) Governance costs (seè noté 71 Supptrrt costs (see note 71 1,492,106 750,987 1,492,106 1,092,117 750.987 668,300 258,454 200.Q)00 6.100 5,600 725,307 7D4.940 258,454 6,100 725,307 01 the £3,232.9' -4 expenditure in 2022 12021 £2,670,957), £3,232,954 was charged lo unreslricled funds 12021 £2.670.gJf71. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The Chaiily initially idenlilies the costs of its support functions. 11 then identifies those Costs whh relate lo the govemance function. Governan¢e G9$15 and othei support costs are appottiorTred separately beiween charity's two key activities undertaken (seè note 6) in the year. Refer to the table below for the basis for apportionment and the analysis of sUPPOrt Gosls and govemance costs. General Support Govornance 2022 2021 Premises Warehouse salarie5 General and office financ8 costs Communi¢alions Travellin9 Information technology HP Inleresl Legal and professional fee5 Depreciation Bank and crédit card charges Audit fees 112,496 28,650 302,194 64,428 31,002 43,182 1,340 39,520 68,428 24,LE7 112,496 28,65 302,194 64,428 31,002 43,182 1,340 39,520 68,428 34,067 6,100 93,388 26,685 370.404 37,603 20,656 44,193 447 53,888 35,485 22,191 5.600 6,100 CHARITABLE DONATIONS Unrestricted 2022 2021 Charitable purpose: Community Education Elder Welfare Environmental (See Note b6lowl Medical Welfare Youth 62.495 37,714 6.750 7.500 29,394 ,351 18.250 62,495 37,714 6,750 7,5CIO 29,394 96,351 18,250 47,733 28,030 3.500 5,548 26,269 72.420 16,500 In 2022, All Aboard raised £2.453.21 from the purchase of single use carrier bags and we have donated that amount lo an environmental charity. Trees for Cities, lo help fund their amazing WOTk in the local community and impTove green space for all. Page 117
'ALL ABOARDI SHOPS LIMITED NOTES TO THE ACCOUNTS (Contldl FOR THE YEAR ENDED 31ST DECEMBER 2022 NET INCOMING RESOURCES Nel inming resour5 are shown after Charging.. 2022 2021 Depreoialion of langible fixed assels Opeialing leases ~ rent Audilorfs remuneration 68,428 547.478 6,100 35,485 530,362 5,600 10. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL STAFF COSTS 2022 2021 Salaries and Wages Social security costs Pension costs 1.629,634 109,728 26,346 1,342,362 78,529 20,063 The emoluments Df one rnember of staff. including benefits in kind, are within the range of £70,000 10 £79,999 12021.. one member), not in¢luding retirement benefits which are accruing under a defined pension scheme. ND Truslee receivgd any remuneration during the y88r12021 - £nill. Ng Trustees received reimbur88d expenses during the year12021 £nil}. The key management personnel ol the charity comprise the Chief Executive Officer. The lolal employèe benefits lincluding employer national insurance and employer pension) of the key managèmènt personnel during the yeai were £79,38212021- £70,544). During the year, no redundancy paid12021- £9.523}. 11. STAFF NUMBERS The average weekly fulklime number of staff employed by the Charity during the period was as folbw8.' Direct charitable work 57.5 Adminislralive work The average number monthty employees during the year were 107 {2021- 941. In addition, a great amount of time. the value ol which il is impossible to reftecl in these financial slalemènls, is donated by approximately 204 volunteers. Page 118
'ALL ABOARD. SHOPS LIMITED NOTES TO THE ACCOUNTS {ConUd) FOR THE YEAR ENDED 31ST DECEMBER 2022 12. TANGIBLE FIXED ASSETS Short term Fixtures, Lease and Fittings and Improvements Equipment EPOS Systern Total Cost as al 1 January 2Q22 Additions Disp08a Cosl as al 31 December 2022 233.058 3,472 319,627 161,4L11 118,039 670.724 164,873 236,530 481,028 118,039 835,597 Acc Dep as al 1 JanL'ary 2022 Charge for the year Acc Dep on Disposals Acc Dep 8s al 31 Decèmbér 2022 184,822 15,077 230,051 49,467 90.850 3.884 505,723 68,428 199,899 279,518 94.734 574,151 Net Book Value as on 31 December2022 36.631 201,510 23,305 261.446 Net Book Value as on 31 December2021 48.236 89.576 27.189 16S,001 The nel book value of tangible fixed assets includes £29,131 in respect of assets held under finance lease. The depreciation charge in respect of such assets arnounled lo £3.88412021- £1,942) for the year. 13. DEBTORS 2022 2021 Ttade Deblors AcGrued Income and Prepayments Taxalion 19.792 126,306 16.168 371,919 46.867 Accrued Income and Prepayments include two rent deposits lotalling £6,000 12021 £6,000), which are re¢Èiv3blè within one year. 14. CREDITORS: Creditors falllny due wlthln one year 2022 2021 Net obligation undei flnancial lease agreement Trade cieditors Taxalton and social security Other Creditors ar Accruals 8,801 27,066 29,183 182,789 247, 39 7.166 29,257 24,137 144,988 Creditors falllng due after one year 2022 2021 Nel obligation under finan¢ial lease agreement 12,562 20.Q23 Olhei Cr8dilors and Accruals include a balance of £125.000 approved by the Board lo bè distributed as Donations to olhei GhaTlties,
'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (ConVd} FOR THE YEAR ENDED 31ST DECEMBER 2022 15. SHARE CAPITAL The company is limlled by guarantee and does not have a share capilal dbvided by shares. 16. ANALYSIS OF CHARITABLE FUNDS Balance at 01.01.2022 Balance at 31.12.2022 Incom¢ Expgnditure Unrestricted funds: General funds 759,152 3,357,197 3,232,954 883,395 Totsl funds 759.152 3,357,197 3,232.954 883,395 Analysls of charltable funds- previous year 01.01.2021 Income Expenditur8 31.12.2021 Unrestrlctod fLfnd$'. Cenèral funds 492,392 2,937,717 2,670,957 759,152 Total funds 492,392 2,937,717 2,670,957 759,152 Description, nature and purpose of unrestricted funds-. General fund represents funds availab to spend al the di%crelion of the Trustees. 17. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS Unrestricted 2022 2021 Tangible fixed assets Nel current assets Crèditors falling due after one year 261.446 634.511 112,5621 883,395 261,446 634,511 112,562} 883,395 165.001 614.174 120,0231 759,152 Analysis of fund balances betwèen net assets - previous year Unrestricted 2021 2020 Tangible fixed assets Nel current assets Creditors falling due after one year 165,001 614,174 2CS,023 759,152 165,001 614.174 120,023 759,152 139,D33 353.359 492,392 Page 120
'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS {ConUd) FOR THE YEAR ENDED 31ST DECEMBER 2022 18. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPEFiATING ACTIVITIES 2022 2021 Net movement in funds Add back depreciation Add back loss on salè of Fixed Assets Add back Inleiesl on Finance Lease Deduct interest income shown in inve5tmelll activities Decrease I lincreasel in debtors IncTease I Idecrea5el in creditors Net cash used In oporating activities 124,243 68.428 266,760 35,485 4,992 447 1221 (283,2431 131.649 156,067 1,340 (1,2501 288,855 34,830 516.447 19. OPERATING LEASE COMMITMENTS The amounts payable in the forthcoming year in respect of operating leases relating to rent and service charges are shown below, analysed a¢¢ording lo the expiry dale of the leases. 2022 2021 Within one year Between two and fivè years Afler five years 540,145 1,351,489 178,487 2.070.121 184,758 1,174,603 433,634 1.792,995 20. ULTIMATE CONTROLLING PARTY For the whole ol the yeai, the Charity was under the control of the direclors and Iruslees as shown on page 6, 21. RELATED PARTY TFL4NSACTIONS Details of transactions with trustees and senior managemenl are in note 10. Page 121