ALL ABOARD SHOPS LIMITED DIRECTORS. AND TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Company No.. 02571767 Charlty No: 1125462 'ALL A80ARD' SHOPS LIMITED REPORT AND ACCOUNTS CONTENTS Page Dlroctors, and Trustees, Report Independ¢nt Audltor's Report 9-11 ststement of Flnanclal Actlvltios 12 Balance Shaet 13 statement of Cash Flows 14 Notes to the Accounts 15-24 'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 The trustees are pba5ed to present théir annual dwectors. report together with th& fln8n¢lat statements ol the charity for Ihe ygar ended 31st December 2023. Thtr financial itatomenls comply with the Charities Act 2011, the Corwanies Act 2006, the Memorandurn and Articles of Associallon, and Accounting and Reporting by Ch8rilie$', Slalements ol Recommended Practice applicable lo ¢haiilies preparing their accoun15 in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ir¢land IFRS 10211offé¢tlvo 1 January 20191. OUR PURPOSE AND ACTIVITies The princip81 aims and objeelives of tha Charity are to operalfr ietail shops. The profits frorn Sucl operations beirvJ donated for the of UK Charitiès and to prornote the idea18 01 recycling a)d working f¢[ a ¢leanèr And hèaRh*r envir¢nment. 1. The protection and pt•servatitin of the environment ftsr Ihe public benefit is.. al the promotion of wa51e reduction. re.use reclamation, use of r8cycl*d producls and thè use of surplus ilems bl advancing the education ol the publ￿ about All aspects ol waste generation, waste management and waste ro-cyeling 2. To make grants to such regIste￿d charlttg¥ in aowrdance with Ihe law for En￿and and Wales, as 11 TfU5180$ ss¥ lil. The iole and contrlbutlon of voluntgers Approximately 210 volunteer8 regularly contributed to the work of the ch8rity during the year.. working in a range of activitie5 Lxjth in th& shops 8nd thg head office lo support and Corry)1e￿￿nt our professional staff. All Aboard provides ￿nstr4￿1￿8 vrAunleer opportunities for approximately 210 volunle8rg many olwhom 8r*-. newcorners lo th? UK who wish to better thelr English and under$landing of our culture a5 they prepare Ihemselves for palij employrnent, mothers raising children with Sorne spare time, people who have taken a career break and want lo return 1¢ tho W0￿[n9 world, rètirees looklny lo'give back lo s0¢ielY. school students lover 16 years old) gaining work exp¢iÈn¢g, wogrèssing Iheir Duke of Edinburgh Certificates. improving their UCAS applieations and buikling a CV, people who have suffer¢d long temi ill heaElh #nd wish lo return lo the working world lo build on their conlidence or anhance their CV. Publ1¢ 88nellt sts18ment In shaping our objeGllve8 for th¢ year and planning our aclivities. the Iruslee8 have considered the Chaiity Commission's guidance on public benefit, including the guhyance 'publlc bènafit.. running a charlty IPD21. Th8 achlevemenls and aelivilie8 8bovtr demonstrat¢ tho publ¢ benefit arising Ihrough the Charity's activities. Grant making pollcy The charity has sel up a srnall ccmmittee ol trustee5 to consider applicotions Irom g¥ant 568king regi518r8d charities. All applications must eomp1018 a short quèstlonnair8 requesting Somo basic information on their slatus, financial position and u¥e ol the granl requesled. il Successful. The committee loctjses on th• sma116r ehariliès. which provlde a Valuable service lo the community. Our policy is to wovidè lunds for Srnaller an(Vor lo¢alty based charities whose criteria accord wlth the objeds of our constitution. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document 'Al Aboard, Shops Limltod is 8 company limited by guarant80 and rtol havlng a capital divided by Shar￿. The company wa3 incorporated on 4th January 1991 8nd reoistered as a charity on 11th August 2008. It is a régisteréd charity constituted as a limited company under the Memorandum and Articbs of Assorialion. The Charills gistralion number 15 1125462 Ond the compBny regKstr8lion number is 02571767. Page 12 'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT Icontld) FOR THE YEAR ENDED 31ST DECEMBER 2023 Re¢wltment and oppolnlmont of TTUStees As sel out in the Articles of Associal￿n, the Choir of the Trust￿¥ [8 nomin8led by existlng Tru$tees. The Directors ol the organisalion arg a189 Ihg Charity's Tru81ees lor the purposès of charity law. The Btrard tsl Trustee$ has the power 1¢ appoint addillonal Trustees as it Car￿￿￿erS fil lo do so. The Trustees have no beneficial inlerest in the company othèr than as mèmbeis. Thè TrustèÈs ÈrÈ also th• dirèctors ol the Company. All of the Trustees are members ol the company and guarantefj lo contribute £1 each in event of wind5ng up while they are a trustee or within 12 months of Ihem ¢ea$ing to be 8 tru$le8. Tru$te¢ Inductlon and tralnlng The Trustees recognise the importance of malnlaining a good worklng kmwledge ol charity and company law and best praclise by reading appropriate publications and attendance at charily and company courses run by outslde providèrs. New Twstees ar9 gtvgn copies ol the Memorandum and Articlos ol Associatlon. Orgonl$ation The Board of Truslees. whrh comprises seven members, administers the Charrty. Thè Board meets periodically to ¥ev￿W the affairs of the Charity and to consider str8tegies and operations. To facilitate activities, the Board have d&legaled authority. within lerms ol delegalion approved by the Trustees. for opèrational matters including financial, employment and other related activities. A51 dècisions rélating lo slialegy and policy are made by the Board of Tru8le8s. Koy management personnel remuneraiion Tht rèmunaration of the CEO is d8cided by the trustees and the remuneration ol the key managernent P6rsonng1 detemiined in the first iristance by the CEO and sub¥equ¢ntly approved by the Board. There are regular appraisals betwsèn the CEO and key personnel during which indwidual perf0mlan￿ ciiteria afft established and a mpchanism for measurement agr8ed. Related Partl•s Thè Charlly does not hav¢ Ir•n$8cliM$ with related parties or othei ch8ritles snd organisatlons wiltt whi¢h il ￿- efates in pursuit ol ita ¢harilable objeclNes. Risk rnanagem•nt The Trustees havè a ilsk managernent strategy which ¢ompTl8es'. HIO & Shop H&S Rlsk Assessments arg ￿rrIed out by an external H&S company t¥wce a yaat. Mea￿n9$ with the H&S company and managemant tèam are hèld regularly to review risk assessment findings and act on finding8. Manual Handllng- Stsff and Vdunteers ar• trainèd in manual hawKlling, trips, 8lips and falls by our exlernal H&S company and regular updates and refresher Iraining 1$ unlèrtaken. Safgguardlng have 8n up.lo.date Safeguarding Policy Ih8t regularfy r9vieW￿ 8nd updated by our Employee HR provider. Data Protectlon -w& have a dadi¢ated Data Protection Officer to ensure we are Data & GDPR conwliani. The chataly has been audited by the Data Prot?¢t￿n QffKer and hi8 findings have been actioned by the Seni( Lead8r8hip Team and shared with th• Chairman of thé Board. IT Syst•ms -￿e have 8 dedraled IT provid￿ who m*ag8s and ovei8e8s the mi'o¥ity of our IT Systems, emails and onllne serlicès r6FnOt81y. Dlsaster Recovery Plan follokwng the Covid pandemr¢ and the subsequent closure Df our shops and our HIO we now have in place a Dlsasler Recovery plan that allows key HIO p6rsonnel to work remot&ly and a¢¢ess business information on a rbud platform in the event of a fiTe cw similar disasttsr to Ihe HIO bvildsng or inlr8strudure so th81 Ihe day to day running ol tha ehÈrily Can ¢onitnuo uninterrupled. Our HIO leleplwne system ¢8n be rgdirected to a dedicated moblEe phone, ¥0 our donors. customers and staff have cornmunirAtion with All Aboard and key personnol. Page 13 'ALL ABOARD, SHOPS LIMITED DIRECTORS. AND TRUSTEES, REPORT (Contld) FOR THE YEAR ENDED 31ST DECEMBER 2023 Tho Bo4rd of Tru$tggs number seven, all of whom com& with extensive experience in thè retail, profes8ional and corNnercial fiekls. The Board hold5 regularty meeting5 throughout thg y*ar with the CEO and Execulive staff. ACHIEVEMENTS AND PERFORMANCE In 2023, All Aboa¢d aehi$v8d unprecedenltd St￿￿$s, surpassing premous trading perfomiances, and marking our largest monetary distribution year lo dale. This remarkable achiovemont not only buil¢Js upon the successe8 af the previous year, but also under5COtès our commitmenl to continual growth and Inpact. We ale thrilEed to announce Ihal we have extended our support to a record-bfeoklng 79 di119r￿¢ charities. usually supporting welfare proje¢ls in Iwal communities or those with specific needs. The foundatM)n ol our sucGe$5 lies In the Ilrg1ès5 elforts of our dedicate¢S staff and volunteers. In line wi(h our $tralegtc decision made in 2021 to overhaul our shop management structure aNI prioritlse ifjvestm6nt in tralning and lai9eled managgrveql, we have witnessed a tran3lomalion in opeialional 8￿￿lencY and customer Satisfaction. This strategic apwoach has been instrumental In diivlng our suceess and ensuring Ihè sustainability of our mis$ion. Charlty Supgrm4rket: All Aboard 18 proud to have been selected as one ol the founding retail charitias for th8 Inaugur81 Charlty Superm￿ket in thé UK, situatèd at Bfenl Cros8 shopp5ng cènlM. This ploneeiing initiative. conceThied by Wayne Hemmingway. fashlon designer, and Maria Chen￿￿orth, CEO of Traid. aimed to rovolutionisè charity lashion on a larger scale wts'lè championing sustainable pwlt¢es and the positlvè Ènvironmental irnpact of pr8-loved fashion. Our partKipalion in this endeavour has nol only allowed us to showcase our wargs to a wid$r gudiènce. bul also lo ronlribul¢ $ignikantly lo thè promolktin of sustainable fashion and the rÉduetittn of carbon emi8sions by diverting ilerns from landfill. Buitdinu on this success, we havè 0xt8nded our pr*sèncè to Charlty SupemiaFkets in M8n¢hesler and We8ffield ￿rte Cily Shopping Centre, further solidifying our commilmenl to suslaSnablo practices and commurvty engagement. Addilion8lW, our tffort5 have gamÈrsd substantial PR eoverage, with features on prominent llational teEevision nthorks such as BBC News and Sky News, as well as in 85te8m&d publications includlng Time Out Lond¢n. Mail Onlinè. Daily Express, and avèn intornaiional recognllion on Japsne8è nèws ￿8￿0rk NHK. Th4 Social R•turn on Charlty Shop$'. The value created by charity shops goes far beyond what can be captured In finanelal l•rms., how6vef, the latter lènEIs tts be the only type Df value that 1$ measured and reported due lo the complexity of capturing impacts and benefits that are not expressed financially. The Charity Retail Associattin ICRA} ra¢o9nis*d netd lor bètttsr ways ro aceounl f¢r the soci81, ec0norn￿. and environmental value that re$u113 from the act￿vItieS of ¢harity shops.. understanding this broader value is becoming increaslngly important to support advocacy and rnedia work on b¢hoW ol th¢ charily relal sector. Thè Swi81 Rettjrn on lrtvèslmènt ISROII rèport, 'The Valuè of Glvlng 8ack- The Soclal Relum of Charity ShDp5' ha5 been commissioned by Iho CRA, lo understand thè so¢ial value 9en0Fal¢d by UK Gharity shgps and tho benefits they bring to Customers, staff, volunteers, 8nd donors, and was und&rtaken using established principles of assessing social value. We are proud that in 2023, All Aboard Charily Shops was selected as one of the ¢h05en charitie5 to participate in pionè81ing resèarch almèd at 8sseÉsing thè SROI ol our operation5. Thè report found that charty shops genèratéd £75.3 billDn ol social value in 2022.. 49% 01 this lolal social value 15 linked to gbving back to others or tho planet, whilst 29°h is about a Sense of community and being mgt with friendliness and compassion in charty shops. On lop ol furbds raised for charities, every pound spet)l on operating charlly shup5 generates a phenomenal £7.35 in social value. Our Finchtey Road shop served as one of the case $ludies lor thi$ groundbreaking report. ulili$ing the CFIA'S SROI catulator to evaluat8 ourw¢dèr Impact wlthln tho commur*lty. Th• flndlngs of the rtrport are nolhlng short ol remarkablo- A stkggerin9 £9,251,795 of SDcial value was generated by our Finchley Road Shop abne duTrn9 the period spanning January 1st to December 318t, 2022. The sociol return on investment iatvj Is an imprassivÈ t1.. £14.1 S, meaning th81 for every pound Invèsted Èn our Finchley Road shop, £14.1 S of social value is generated. Thts ratio far exceeds the average lor a single harity 8hop, ealculattd to bè É7.35 nat￿nally. Page 14 'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT {ConUd) FOR THE YEAR ENDED 31ST DECEMBER 2023 These finding5 underscore th8 significanl and p05ilive impact All Aboard Charity Shops has on the Gommunities rt supports. By piovlding essentlal opportunities for volunteering, and contributing lo environm8nla sustainability Ihiough ouroperdlions, we are making a tangible difference in the lives of indivhluals and families. As wé rafiect on these resutts, we aré remindèd ol th& thnporta#ce of our mission and Ihe dedicatson ol oui staff, volunte9rs. donors. and supporters who together are cre*ing meaningful Impact across the cornmunitl85 we supp￿t. Chartty Rolall A$soclatlon Natlonal Awards.. Continuing our streak ol recognition, All Aboard Charity Shops is pleasod to ¥nnounc@ Ihat our Chief Executive Officer Alan Haynes has secured a place among Ih& final thr•& contenders for the Charity Retail Association's pre5tsgious 'MDst Supportsve CEO. award. While Ihe ultirnate award eluded us this y&ar, competing against ¢harily rtrlalleis ￿t￿nWide. thè aeknowledgmenl ol Wan's laadership on a nation81 scal6 speaks volumes about the strenglh ol our charlty's l&&dèrship and the commitment ol our team. This achievement reaffirms our posllion as a leader In the charity retail se¢lor and motivates us to continue sliiving for excellence in all fa¢ets of our operations. Portfolio bralldlng and upgradè5'. Ever aware ol the importance ol the physical presence our shops hawe on the high slr881, w* continued our store upgrade prografflffle this year with upgrades lo our shops in Barnet, Edgware and Gold¢r3 Green 616 - which was also one of gight shops lo recewe a new fascla wth EEpgraded branding.. th& r8mainino Ihiee lasei8s are due for replacement in 2024_ 2023 also saw inveslment in our Head Office, distribution and e8ay spaces, making better use of the footprint and creating a better woikiTrg enwronment. Technical upgrades lo our videoconference lacililies, phone systern and othe¥ eloud-b8Std IT solutions enable betterw8ys of working both on and offsltè. FINANCIAL REVIEW Th8 Slalemenl ol financial Activities Show￿ a nel surplLlS, after distributions. 01 £38,15612022- 124,2431 for the year and ressrv8S Stand al £921.551 12022 . £883,395). During the year 2023 thts Charty made donations ol E275,000 {2022 - £258.4541 lo UK chall1￿$. Prlnclpal Funding Soureès Principal funding soyrce3 are sale of donated goods Ihrtyjgh the Charity's shops. Fundfalslng standards 'All Aboard, Shops Limited is nol iegislered with th8 Fundraising Rogulalor and the chaiily has not carried out any sIgn￿¢an1 fundraising activilles. Investment powèrs and policy The Mernorandurn and Articles of Associalron aulhorisès the Trusttres lo make and hold invoslments usiny th* gener81 lunds of thé Charity. The Irusteey have the power lo irivest In any way that they see fil. R•sèN•s polFcy Al the Balance Sheet dal?, the charty'6 total reserve6 were £921,551. Free reserves not tnv8Sted in lix•d assets and not restricted were £566,383. The Trustees have set a rllinimvrn level of reserv?s 91 £400,000, which is eqvivalenl of 2 months rhead5 on the basis ol the completed reorganisalEon. Thks will be reviewed at the next year end. Sustslnablllty As detailed in OUT last rep(>rt, one of the key suslainabilily initiatives undertaken in 2022 was th6 convers￿￿ of all Ifadilional lighting 8cross the organisalion lo ener9y-efftCi8nl *eFnatWBS. This strategic decision yieldgd 5ubslanlk?I sulls. w¢th a remarkable 30°A redLLlion in our energy bills frL)m 2022 to 2023. matking significanl savings for OUT thgrity. Further[no￿, our commitment to sustain8bility ek1ends beyond energy effi¢léncy. From January 1st. 2023, to Janu 31sl, 2023, All Aboard Charlly Shops oslimal8d a total reduction in landfill waste OF 3,787.779.12 kg. C02eryolln•- Carbon WARM. n¢¥malized vs landfill Ikg.C02eltonnel. ThFS reduction is attr￿ul@d to our efforts across various categorles, including textiles, shoes. books. household ilerns. and ol¢clrt¢al items. Page IS 'ALL ABOARD, SHOPS LIMITED DIRECTORS, AND TRUSTEES, REPORT (Conudl FOR THE YEAR ENDED 31ST DECEMBER 2023 T•xtll•s-258,815kg 12022- 215,340 kg) Shoes- 48,652kg 12022 . 41.162 kg) Books- 64,796kg 12022- 64,407 kg) Housèhold Itèms- 37.844k9 12022- 25,368 kg) Electrlcul Itwn$- 5.790kg 12022- 1.158 kg) By div$rtlng thèse mat8rials from landfills, ￿ ar8 actkvaty reduekng our envwonmental impact ?￿d conlribuling lo a m￿e sustainable future. In addition lo the$0 efforts, w8 havè Ctsntinued th8 transition our fleet ol fossil lualled vahieles to Batt8ry Electr Vehvlos 18EV). Dtsspite lacing dday3 from the Manufactu￿[, we have successfully converted two of our three Neel cars to BEV, with plans 10 ¢onvert Iwo of th8 Ihree fleei vans by latè May 2024. Vthilè thÈsÈ delays wer• beyond our or*lrol. we rgmaitTr comrnitted lo roducing our ¢arbgn foglprinl and ènvironmenlal impact. FUTURE PLANS AND DEVELOPMENTS Shop portlollo.. We aim lo opon three shops in 2024. èxtending our rgach and itTrwact within the communities we serve. RespcJn$ive to the ¢h•ng1rtg consumer shopping habits, wo Contin￿ lo explofe nw and fle￿blO retail models such as PQP-up shops in high toottall locations. These temporary retail spaces offer flexibility and agil'ty, allowin9 io tesi new markets and ¢oncept8. often with a bwer inilEo1 invesiment or risk, Volunteer 8trate9y'. Volunteering remains 8 ¢rucial part of our Charty we simply wouldn't be pfolilable without their 5UPPOrt in both the $hop$ an¢J our head office leam. Un 1$ applicable law and Unlt8d Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Rewrting Standard appllcable In the UK end Rtpublic of Ireland (United Kingdom Generally Ac¢opled Accounting Praclicel. In our opinK)n the fNiancial statements.. give a true and fair vi6w of the 31ale of the charitabla company's affairs as al 31* Oecemb8r 2023 end of ils ineomiftg resources and application ol resotsreès, ineluding ils inctsme and expenditure. lor Ihe year then 8nded,' have been properly prepared in acC￿dance with United Kingdom Genar8lly Aceopted A¢counling PractiG8," including Financial Reporting Standaid 102'The Financial R*porting Slanda¥d applicable in the UK 8nd Republic ol Ireland,: and have beeTr Prepared in aecordance with the requirements of the Companies Aet 201b. 8asls for oplnlon We conducted our audit in accordance with Internat￿n￿l St8ndards on Audrting IUKI IISA$ IVKII and applicable law. Our r88ponsibilitie5 under those standardg ere further describéd in the Auditor's responsibililias for the audit ol the financial statements sedion of our report. W& aré independent ol Ihg ¢Dmpany in accofdance with th& ethical requirgmenls Ih81 are relevant to our audit of the financia] stal*mants in the UK, including the FRC'5 Ethical Standard, and we have fulfilled trur other ethtcal responsibildie5 In accordance with thes8 requiremen16. We believtr that the audit evidence we havg oblainfjd is suffici8nl and approprlato to prgvide a basis lor our OPilliDri. Conclu51ons r81atlng to golng concern In auditing tha lingncial statemanl$, ￿ have concluded that the directors, ttsè of thè going concem basis ol accounting in the pr8paralion of the financial 51alernen15 is approprigte. 8a8ed on Ihe work we have performed, we have not identifi&d any materia1 uncertainties retallng to events or conditions thal, individually or ¢ollertively. may cast significant doubl on Ihe entity's ability to continue as a going concern for a period ol al ￿85t Iwe￿£ months from when the financial statements are authorised for i5SU?. Our re8ponsibilities and the responsibilities of the dirgdors with respect to going concern are descfrt)ed Én the relevant sec1h￿S of IhiÈ r¢pDrt. Other Informatlon The directors are responsible for th• other infom7alion. The other information comprisea th8 Informat￿ Included in the annual r¢port, olherthan th8 financial statements ond Lwr audiloff s report Ihereon. Our opinion on the financial slalemen15 does nol cover the other informatFon and, trxcepl lo the extent olherwtse explic￿lY stated In our report, we do not express any form of assurance conclusitsn ther80n. In connection wilh our audit ol the finan¢bl stat￿entS, tsur responsibility is to read thè other inlormation and, in doing so, consider whether the othèr information ts materially inconslstent with the financial stalement$ or our knowledge obtained in thè audit or otherwise appoars lo be materially misstated. 11 w8 identify Such material inctsnsislencies or apparent material misstatements, we are requ*red lo deltrmlne whether there is a mal8rial misstatement in the financial slalemenl$ or a rnateiial misslalement ol thè othei information. 11. based on the work we have performed, wa conclude that there is a malèrial mlsslaleff￿nt ot this other information we are requiied lo report that lacl. Wé havè nothing lo report in th18 regard, Oplnlons on other matters pr•scrfbed by the Companles Act 2006 In our opinion, based on the work und8rtak•ft in the ¢ourse of thè audit.. The infofmalion given in the dlrèctor$' report for th6 lin•n¢i81 year for whiGh the financial slatemenis are prepared Is con51Stenl with the financial 51alements'. and The direclors. tepart has ba¥n prepared in aceordan¢e wlh app￿cab￿ l•gal rèquirements. Page 19 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF Iconvdl 'ALL ABOARD, SHOPS LIMITED Matt¢r$ on whl¢h w• ar• rèqtslr￿ to r8port by •x¢¢ptlon In the light ol the knowledge and understanding ol Ihe company and 115 environmenl obl8lned In tha eoursg of the audit, w& havo not identified rnalerial misstatements in thè directors, rèport. W¢ h¥vc nolhSng lo report in respect of the folknwng Matte￿ in relation lo which the Coffoanies Act 20￿ Fequir¢s u5 to report to yov il, in our oplnlon.. adgqualg accounting records have not be￿ kept or relufns adequate for our audit have not be•n received from branches not visilerj by us., the Ilnancial slaternenls ar8 not in agreemenl with the awounts'ng records ond ralums., certain disclosures ol trustees, rernungration specifiEd by law are not made., we have not r•ceivod all the Information and expFanalions we require for our audit- the truslees were not entitled to prepare the financi31 slalem&n18 in accordanGg with the small compani9$ regimg and lake gdv?nlage of the small companies exemption in preparing the Dire¢lors' and Trustees, Report. Responslbllltl*8 of dlrectors As oxploinod more fully in the directors, responsibilit￿$ 6ts1ements sel out on page$ 5 and 6, thè dirÈct¢)rs arè responsible for the prep8r8llon ol the financi?1 statements and for bg¢ng satisfie(J that Ihey give a true and fair view, and fot Such snteinal control as the dlrectors determine is ne¢essary to enable the preparation of finaNcial s￿tementS Ihat ar6 f￿e from material misstatement. whether due lo fraud or eiwor, In praparing the Ilnanual statements. the direclors are responsible lor assessing th$ company'5 abllily to eonlinue as a ing concern. disclosinD. 85 8pplicabEg, matlets related lo going concern and using the goinG concern b8si$ ol Bccounting unless the directors oilher intend lo liquidal? the Company or lo ¢¢ase oporations, or have no realistic alternative bul to do 80. Audltor's responslbilltles lor the audlt of thg finanelal 5tatemet Our objeclivtss are lo obtain reasonable 85surante about whèthèr Ihè financial statements as a whole are liee from malerlal mis$lalèment, whotheT due to fraud or error, and lo issue an auditor's report that includas our oplnion. Reason8ble assurance is a hi9h 18v81 tf as$ur8nce bvl is not a 9U8rante& that an audit conducted in accordance w*h ISA5 IUKI will a￿ayS detect a material misslatemenl when il exists. Mis$t*emènts can arise from Iiaud or èrror and are ¢onsidered material if, individually or in the aggr￿al8. thèy could r&&sonably be expected to influence Ihe ewnomi¢ dg¢15ions 91 taken on the basis ol these financial $talementS. Iiiegularities, including fraud, a￿ instances ol non.compliance wilh laws and regulattons. We design procedures in line with our responsibilities, outlinéd above, to detect rnalerkl misstatements in respecl of irregularitiès, Including fraud. The extent to which our procedu￿$ are capable of detecting irrggulaiilies, includlng Iraud. is detailed below.. We gained an understanding of the legal and regulaiory framèwork applicable to tho company and the ifidustry in whi¢h it opgr*e$, and consid9red the risk of acts by the company that wer8 contrary to appI￿abl• laws ar¥J regulations, including fraud. We discussed wilh the Directors lh8 policies and procedures in place regarding comp51aWg Wrth laws ?nd i¢gulations. We di5cu$sed amongst Ihe audit team the identifièd laws and règulalk)ns, and romained alert to any Ind￿all0￿5 of nonn that the charity has adequate resources to continu¢ in operation for thè loreseeable future and will remain surplus In futuie periods. Ther￿Ore, the trustees have adopted thè gtsing concern basi$ in preparing thests accwnls. 1.3 Inc0rn8 Income is recognisèd when the Charity has èntitlgmenl to the funds. any pertormance condititsns attached to the &mlsl of income hav8 ￿On rnet. it Is prob8ble that tha incomè will be re¢ewed and arnount can be mèasured kably. al In¢ome received by way ol donation5 and legacie5 alè included in full in the Slalemenl of Financial Activitios whan ieceived, unle¥s they relate lo a specified future pèriod, in which case Ihey are deferred. b) Legacips enlitlem6nt is taken as the earlier ol the data tsn which either.. Ihe ¢h8rily 1$ aware that th¢ probate has be8n granted, Ihe es¢ale has been finalised and notilieaiign has been made by the Bxeculorlsl to the Charity that the distribution is made, or when a distribution is T¢￿1Ved from the è51ale. No legacies were received ijuring the year. cl Inteiest on funds held on deposit is included when recèivabl8 and the amounl Can be measured rgli3bly by the Ch8ri1y', Ihis is normally upon notificati(￿ of the inlere$l paid or payable by the Bank. 1.4 Donated goods Donated goods for resale are not recognised oft re¢?ipt. Instead. tho value lo the charity of tho donated goods sold is reco9nised as Income when sold. Estimating the lar value ol donated 9oodÈ Iof fesale is iTnpraclical because of the low-value items 18eeivèd. The proceeds ol 3ale ar8 calogorisgd as 'lncome from other trading activities, in the Statement of FIn￿cIal Aclwitl$s. 1.5 Volunteer9 and donal¢d ser¥lc6s and facllitlès t)onaled profèssional serVI￿S and donated facilities are recogni$èd as income when the charity has Control ovtrr thè item, any conditions associated wbth the ¢JonatÈd rt8m havè been met, the receipt ol economic benelrt from the use by Ihe charity of the item is prob8ble and that Bconomic benefil can be measured reliably. In accordance with lhe ¢harili¢s SORP IFRS 1021, the general volunteer lime of the Friends 15 nol recognised and Tefer5 to the trustees, annual report for more information about Iheir contribution. On receipt, doTrated professional servlces 8nd donated facilities are recognised on the basis ol the value ol the gitttg Ihe charity which is Ihe amount the charity would have b&•n willing lo pay to obtain service5 or fa¢ilili8s of equivalent èconomic benefit Ots the open m8rko1,' a corr8sponding amounl 1$ thon recognised in expenditure in the perk)d of rÈcèlpl. N¢J such donations were received during the year. ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (Contld> FOR THE YEAR ENDED 31ST DECEMBER 2023 1.6 Expendlture r•cognltlon Expenditure is r￿QgnIsed on an accwal basis as a liability is incurred. Expenditure Is dassrfied undor the following a¢lAIlty headings= al Cost ol raising funds comprises cost of seeking donations and legacie3 and th& costs ol trading lor fundiaising purposes in¢ludin9 the ChaTty'$ Shops. bl ExpEnditure on charitable activiti95 comprise Ihty maklng of donations lo olhgl Gharilies, D¢nations arè recogni5èd as a cost when thb 808rd of Trustèes approve thè total donations lor the year. 1.7 Allocatlon of support Costs Support CQ51s are Ihose functions Ihal assist the work ol thè charity bul do not dir8clly undertake chari18ble aclivitios. Support ctsstg include baeJf-off￿e c08ts. finance, peisonnel, payroll and governance t05ts which support the charity'5 aclivilie$. Thesè costs havg been alloc318d bètween cost of raising funds and expendilure on charitable activities. The basls on which support cts818 havg been allorat•d afe $8t out In noie 7. 1.8 Funds accounting Unrestricted funds are available lor u9è 8t the discretion ol the Trustees in lurther8￿* of the general objecttves of Ihè Charity. 1.9 Operatlng lea8 The charily classrfies the lease ol property a$ an operaling16ase. The reAtals are Charg￿ to the Sialom¢nt of Financial Activities on a stralght-line basis gver the lease duration. 1.10 Tax)Ilon The Charily is a regislored charity and. therefore. is not l￿bLe IOF Income Tax or Corporat￿n Tax on income derived from its charitabl& aclivi1￿S. as it falls within thè various exemptions available lo regislered charities. 1.11 T#n9lbl4 flxed as38ts Expendiluro ielating to tangible lixed assets Is expected to be used over Several years and where tho a$set exceeds £2QO, IhÈy are ¢apbtalised al cost and dèpreciated over Ihelr estimaled useful economic lives. Depreciation is provided al Fates calcula18d LO write off the CDSt or valuation ol fixed as5et5, less their esiimat rèsldual value. over their expeciéd useful lives on the followin9 ba515-. Short term lease and improvements OveT pwiod ol lease FSxtvres, fittings and equipment 20% net book value EPOS Systèm Over 5 years 1.12 Ca9h at bank and in hand Cash at bank 8n¢J in hand includes cash and shryt-term cash deposrts. 1.13 0obtor8 Trade and other debtors are recogni58d al the seltlement amount due altgr a)y trade di¥c¥unl offered. Pf8paymenls ?fe valued al the ¥mount prepaid net of any trad¥ discounts duè. 1.14 Crgditors and provislons Croditors and provis￿n* are ￿Cr)g￿ls$d where th? Charity has a pr•senl obligatron resutting from 8 past event that wi11 probably result in the Iransler ol funds lo a third party and the amount due lo settle the obligation can be measured or e8timal¥d reliably. Creditors and ptovtsbns ar• nom)ally recognlsed at th¢ir sett18menl amount sfter allowing for any Iradè discounts duo. 1.18 Flnanclal lrtstrumeDt8 The Tru8t only has linan¢ia1 assets and fillancial liabililiès of a kind that qualify as basic financial in$trum8nls. Basic financial instruments are inillalty recogntsed at transadion value and subsequently measured at their settl8m6nl value with thé •xceptKJn ol bank loans whlch are subsequently meastsred at amortised cost using the efleiaive intere81 m*thod. Poge 116 ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (Conudl FOR THE YEAR ENDED 31ST DECEMBER 2023 1.16 Judg•m•nt and key sourc•8 of estlmgtlon uncertalnty In the appllcation of thè company's accounting policies. the chaiily is required lo make judgments. 881imal8s and assumptions about Ihè carrying amount of assets and liabilrtie5 that are not readily apparent from olher Sour￿$. Thè gslimales and associat&d assumptions are based on historlcal experl•n¢$ and other factors that are ¢onsidered lo be 1&18vsnt. Actual results may differ fiom these esllmates. The eslimale3 and underlying assumptions aro rttviewed on an on90ing basis. Revisions lo accounting estimates arts recognised in the period in whth Ihe &sliTnal& i8 revised where the rsviston affects Drjly that period, or in the Period ol the revision and fuiure periods where thé revision affects both eurr8nt and future periods. 1.17 Pen8lons The Charity operatès a ¢Jefined contribution $¢heme lor th8 benelit ol it8 employees. Contribulk)ns payabbs are charged tc the slalemenl ol financial aelivlty in the period they are payable. Page 117 'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (Contld) FOR THE YEAR ENDED 31ST DECEMBER 2023 GRANTS. DONATIONS AND LEGACIES Unrestflrlèd 2023 2022 Individual donations Glft aid 13,838 198,522 13,838 198,522 2,345 182,088 Thg donattons atsd legacies in 2022 lolalling £184.433 was all attributed to unreslricled funds. INCOME FRQM OTHER TRADING ACTIVITIES Unrestrl¢tY*d 2023 2022 Trading Incom¢: Turntsver from donal8d goods 3,256,335 3,2S6,335 3,144,290 The tradin9 Incom& in 2022 totalling £3.144,290. was all attributed to unrestricted funds. INVESTMENT INCOME Unre$triet0d 2023 2022 Interest on cash deposits 5,931 5,931 1.250 The Inieresl In￿mè in 2022 ttstallin9 £1,2SO was all attribute(S io unrestricted fund5. OTHER INCOMe Unrestrlctqd 2023 2022 Insurance clalrn Buslness Inierruption Settlement 1,170 1,170 27,224 Insurance claim received in 2023 is ol darnag8d window. The other income in 2022 lolalling £27,224 was all attributed to unfastricted lunds. In thg pievious year. the Charity has received inlor¢5l on Bu$lntss InteiruplK)n clakn for th¢ lo$s incurred duriTVJ the Covid-19 lockdowns amounting to £27.224. Page 118 'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS {ConUdl FOR THE YEAR ENDED 31ST DECEMBER 2023 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Charlty shops Donatlons 2023 2022 Stsff G951$ Shop co8ls harit8bl6 donations (sée note 81 Gover￿3￿Ce cos15 Is¢e note 71 s￿pport C0515 (see note 71 1.606.775 786.911 1.606,775 1,492,106 786,911 750,987 275,000 258,4S4 6,4QO 6,100 782,554 725,307 275,000 6,400 762.554 Expgndsture 01 £3,437.640 in 2023 {2022- £3,232,954) was charged lo unrestricted funds. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The Charity Initially idenlllie$ Ihe costs of ils support functions. It then icsenlilies thosè costs which relate to thè governance function. Governaneg ¢051s and other support ¢osls are appDrtDned separat2ly between charity's Nvo kay activities undertaken (see nol& 61 in thè year. Refer lo the lablè bèl¢)w for the basis for apportionrnonl and the analysis ol support costs and govèrnance costs. General Support Gov8rnan¢o 2023 2022 Premises Wa￿hOuSe salaries General and ottieè fiTran¢e costs CommunicatDns Travolling Information technology HP Interest Legal and profèssional lees Depreciatloll Bank and credil card ¢harges Audit 166s 123,751 50,368 324,295 76,740 53,649 43.959 1.340 31.828 23,167 33,457 123,751 50,368 324,295 76,740 53,649 43,959 1,340 31,828 23,167 33,457 6,400 112.496 28,650 302,194 64,428 31.002 43.182 1,340 39.520 68,428 34,D67 6,100 6,400 CHARITABLe DONATIONS Unre5tr1cted 2023 2022 Charltabl• purpose". Community Education EldÈrly Welfare Envlronmentsl ￿ed￿al Weffare Ycluth Carriér bag5 levy 52.320 43,320 7,275 4,50QI 30.20Q 103,578 32,012 1.795 52.320 43,320 7.275 4.500 30.200 103.578 32,012 1,795 82.495 37.714 S,750 29,394 96,351 18,250 Page 119 'ALL ABOARD. SHOPS UMITED NOTES TO THE ACCOUNTS (Contldl FOR THE YEAR ENDED 31ST DECEMBER 2023 NET INCOMING RESOURCES Net i￿orning ￿SourCeS are shown after chawing.. 2023 2022 Deprècialion of 13ngible fixed assets Operating leases rÉnt Audilof's femuner8lx)n 23.167 579,506 6,400 68,428 547.478 8,100 10. ANALYSIS OF STAFF COSTS, TRVSYEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL STAFF COSTS 2023 2022 Salaiiés and Wages SorrJl security costs Pénslon costs 1,754,571 124,524 30,133 1.629,634 109.728 26.346 The Trumbef of ernployees whose total ?mpbyoe benefits excluding pension Cantribut￿nS earnwig over £60,ODO cl8ssilied within bands ￿ £10.0(X) is as fc41gws'. 2023 2022 £60,000-£69,999 £70,000-£79,999 £80,000.E89,999 No Trustee veceived any r•muneration during thg year12022- £nlll. Pk) Tru8tee$ rèeèN•d r￿MbUr5ed oxpenses during the yÈar {2022- £nil). Th8 kèy manag8menl personnel of the ¢harily cornprise the chi￿ Executive Offi'cer. Thè total eryloyee bènefits lincluding tmployer nati?Dal insurance and émployer penslonl of the key management persohnè during the y8ar were £89.57212022 - £79.3821, 11. STAFF NUM8ERS The avwage weekly lull lime number of staff employed by the Charrty durin9 the period was a$ follows.. 2023 2022 DI￿¢1 charitable work Administralivo work 60 Tho average number monthly empltsy¢es during th8 yesr We￿ 113 {21Y22- 1071. In addltion, a great amount of limo, Iho value ol which it is impo851b￿ lo reflect in these financial s131ements, is donal*d by approxlmotÈly 210 volunleers WI￿ has equatgd In ex¢e88 0131,740 vdunta8rs' hours during tho y8ar. In lem7s of number this 8quwalent lo sixleèn ful Ilme staff posillons. Pagè 120 'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS {ConVdl FOR THE YEAR ENDED 31ST DECEMBER 2023 12. TANGIBLE FIXED ASSETS Short term Flxtures, L•8se and Flttlngs and Improvèments Equlpmont EPOS Systsm Total Cosl a5 at 1 January 2023 Additions Disposals Cost as at 31 December 2023 236,530 3,402 481,028 146.846 118,039 a35.597 150,248 239,932 627,874 118,039 985,845 Acc Oèp as at 1 January 2023 Charge lor the year Wrillen tsff Acc Dep Bs èt 31 December 2023 199,899 279,5f8 54,353 94,734 574.151 80.179 110.388 623.942 110.3881 189,511 333.871 100,560 Net Book Valu• as on 31 Décember 2023 50,421 294,003 17,479 361,903 N•t Book Value as on 31 December 2022 36,831 201.510 23,305 261,448 The nel book valve ol tangible fixed assets includes £17.479 in respect of assets held under fillanGe lease. Thè depreciation chaige in respect ol such assets amounted to £5,82612022- £5,826) for the year. 13. OE8TOR8 2023 2022 Trade Debitsf5 othèr debtors Accrued Income and Prèpayments 13,326 7,608 171,576 19,792 128,3L 'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (Contldl FOR THE YEAR ENDED 31ST DECEMBER 2023 14. CREDITORS: Credltor$ falllng due wlthln ong yéar 2023 2022 Net obligation under finanaal lease agreement Trade creditors Taxation and social security Other Creditors and AcGruas 8,801 15,376 25.823 171,058 8,801 27.066 29,183 182,789 Cr4dltors falllng due aftèrone year 2023 2022 Nèt c*JlvJation undgr financial lease agrèÈmènt 6.735 12.562 Other Créditor5 and Accruals include ? balance of £136,50012Q22'. £125,00018pproved by the Board 1¢ di#tributed as Oonation8 to other ch&r4ties. 15. SHARE CAPITAL The cLxnpany ss Iirnitsd by guarantee and doe5 not have a share ¢8Pital dlvided by 3h¥rès. 16. ANALYSIS OF CHARITABLE FUNDS Balance at 01.01.2023 Balance at 31.12.2023 Incorng Expenditure Unre5trfct•d funds: G8nèra5 funds 883,395 3,475,796 3,437,640 921.551 Total funds 883.395 3,47S.796 3,437.640 921.551 Analysls of charltablè funds- pr•viou8 year Balanco at 01.01.2022 Balance at 31.12.2022 Incomg Exp•ndlture Unrestrlrled funds: General lund8 759,152 3,357.197 3,232.9S4 883,395 Total funds 759,152 3,357.197 3,232,954 883,395 Do8erlptlon, nature and purpos& of unrè*trict•d funils: G8neral lund represents funds available to spènd al Ihe di$cr8tlon of th8 Trustees. Page 122 'ALLABOARD' SHOPS LIMITED NOTES TO THE ACCOUNTS (Conud) FOR THE YEAR ENDED 31ST DECEMBER 2023 17. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS Unreslrfcted 2023 2022 Tanglb]e fixed assets Nel current assets c￿ditOrS falling due after on8 year 1.903 566.383 16,7351 921,551 361.903 566.383 16,7351 927,551 261,448 634.511 112,5621 883,395 Analysls ol Ivnd balances be￿￿9￿ n•t a$sots- pr8vlou& y¢ar UnT68trieled 2022 2021 Tangible frxed a53ets Net current a5s&I8 Cre(Itors fallin9 aftw one year 261,446 634.511 1Z.562 883.395 261,446 634,511 12,562 88 .395 165,001 614,174 20.023 7S9,152 18. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES 2023 2022 Net rnovemenl in lunds Add back dep￿Iat￿Jn A*Yd baek Interest on FÈnance Lease Deduct inleT8$1 incom8 $h<>wn in inveslmenl activlies D￿￿ase / IlnGr?asel in debtors Increase I Idecie8sel in cied41ors Net cash used In oparatln9 actlvlt1è5 38,156 23,267 1,340 15,9311 140,4121 132,6081 116,288 124,243 68.428 1,340 11,2501 268,856 34,830 516.447 19. OPERATING LEASE COMMITMENTS The amounts payab18 In the forthcotning year in rospèet of operating F¢890s relating lo rent and service charges a￿ shown bèlow, analys6d according lo the exp¢ry date ol the leases. 2023 2022 wrthin one ￿ar Belween two and five years After 16ve years S41.490 945,439 131.609 540,145 1,351,489 178,487 0.121 20. ULTIMATE CONTROLLING PARTY For the whole of the ygar, the ch8rity was und¢rlh* wntrol of the direclois and trL)Ste6s as shown on page 7. Pag8 123 'ALL ABOARD, SHOPS LIMITED NOTES TO THE ACCOUNTS (Conudl FOR THE YEAR ENDED 31ST DECEMBER 2023 21. RELATED PARTY TRANSACTIONS Delai18 01 tran$8clions with trustees and senior management are in note 10. PENSION COSTS The pension coniribthi¢)ns payable by the Charity amounted 19 £30,13312022. £25,944). No Contribulitsns12022- £4,145) wer8 due at the year end and included in Cfeditors. Page 124