Reply to: Sleaford Your Ref: Our Ref: JPS/EEH/SLD Second Chance Association 30 Boston Road Sleaford Lincolnshire NG34 7ET **----- Start of picture text -----**
|||| |---|---|---| |30 October 2025| |Dear Ian| |Second Chance Association- Accounts for the year ended 31 December 2024| |Following the finalisation of the accounts, please see the final accounts for signing in respect of Second| |Chance Association for the year ended|31 December 2024|.| |Kind regards| |Yours sincerely| **----- End of picture text -----**
**James Sewell BA (Hons) MBA FCA CTA CMgr FCMI** _Joint Managing Director_ **YOUR OFFICE Sleaford** Northgate House Northgate Sleaford NG34 7BZ T: 01529 415500 **OUR OTHER OFFICES Gainsborough** Office 1 Engine House Marshall's Yard Gainsborough DN21 2NA T: 01427 611296 **Lincoln** 15 Newland Lincoln LN1 1XG T: 01522 531341 registered office **London** Number 11 6 Pear Tree Court London EC1R 0DW T: 020 7229 4362 **Mansfield** Unit 4B The Willows Ransom Wood Business Park Southwell Road West Mansfield NG21 0HJ T: 01623 623317 **Newark** Morton House 12 Appleton Gate Newark NG24 1JY T: 01636 702100 **Nottingham** Alexandra House 43 Alexandra Street Nottingham NG5 1AY T: 0115 962 1590 **Retford** Chancery Court 34 West Street Retford DN22 6ES T: 01777 707373 action@wrightvigar.co.uk www.wrightvigar.co.uk Wright Vigar Limited. Company no. 4521280 Registered in England VAT no. 829 0252 35 Registered to carry out audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. ICAEW No. C001076671 A list of directors is available at the registered office address **REGISTERED CHARITY NUMBER: 1126099** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2024** **for** **Second Chance Association** Wright Vigar Limited Chartered Accountants & Business Advisers Northgate House Northgate Sleaford Lincolnshire NG34 7BZ **Second Chance Association** ## **Contents of the Financial Statements for the Year Ended 31 December 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Notes to the Financial Statements**|7|to|11| |**Detailed Statement of Financial Activities**||12|| **Second Chance Association** ## **Report of the Trustees for the Year Ended 31 December 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES Objectives and aims** ## Objects The relief of those who are in need by reason of youth, age, ill health, disability, financial hardship, or for the public benefit, by making grants to charities or community organisations (and occasionally individuals where there is no charity or community organisation available) providing support in these areas. The advancement of education in the public benefit by making grants to educational establishments working to sustain and increase individual and collective knowledge in the UK and overseas. The advancement of citizenship through supporting youth groups and the voluntary sector by providing opportunities to volunteer in the charity's shop and charity events, and to gain work experience. Also, by making grants to youth groups to support the costs of their work and events. The advancement of Christianity by making grants to organisations supporting missionary and outreach work in the UK and abroad. ## Activities We support and fund the advancement of education and Christian missions in UK and overseas. We also identify, support, and provide local and national relief or donations for those in specific need or for public benefit. Funds are generated by the sale of secondhand goods through our shop. We offer training and support to our volunteers. The shop acts as a centre where people meet and make friends. ## Main Activities Second Chance Association's main activity is the running of a charity shop selling donated items from the local community. The shop sells clothes, household goods, small items of furniture, books, games etc. The sales strategy is to maintain very low prices but good quality. Donated items of higher value are sold through the shops Facebook site and an online auction site. The charity shop also acts as a collection point for the local food bank, collects spectacles on behalf of Vision Aid, sells cards to raise money for Sightsavers and recycles unsaleable goods including clothing, shoes, bags, books and batteries. The shop has developed a reputation for being a warm and welcoming place and the volunteers offer friendship, support and help to customers. ## **Volunteers** We have around 25 volunteers of all ages and this will include people on Job Seekers schemes and young people on work experience. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** During 2024, the shop has continued to go from strength to strength, our annual takings are similar to the previous year, although some of our costs have increased, we are still turning a healthy profit. During 2024, we have been able to donate over £34.5k to good causes in line with our charitable aims and objects. The year ended with £46,076.95 available in our charity pot with an additional £40,000 in reserve. We have also been able to increase our support for local charities and have also supported projects in all the areas that are listed in our aims and objects. We are looking forward to another successful year in 2025 and would like to thank all of our volunteers and supporters for a very successful 2024. Page 1 **Second Chance Association** ## **Report of the Trustees for the Year Ended 31 December 2024** ## **FINANCIAL REVIEW Financial position** Charity's principle sources of funds Sales from the shop. This is by far the greatest source of income. The items on sale are all from donations. Very few donations are refused. If it will get through the door we will sell it. Additional income is from sub-letting a room, small change collection boxes, selling suitable items through local salerooms, on-line sales and cash donations. How expenditure has supported the key objectives of the charity During 2024 Second Chance Association has donated as follows; ||£| |---|---| |Annual Donation Sleaford Little Theatre|250| |Monthly Donation CAP|2,700| |Monthly Donation MAF|2,500| |Monthly Donation St Barnabas Hospice|1,500| |Monthly Donation Connecting Well|1,200| |One off Donation Rainbow Stars|6,091| |One off Donation Ed4Life|15,000| |Monthly Donation Ed4Life|2,700| |Monthly Donation Evergreen|2,700| ||£34,641| ## **Reserves policy** Second Chance Association is a small charity with annual income of approximately £45,000 The reserves policy seeks to ensure that: The day to day planned operational costs are covered. The business can meet its financial obligations annually. Time is allowed for the business to be turned around if not making a profit. The charity has enough cash-flow to deal with the risk of an emergency. All liabilities are covered, should the charity need to be closed. To limit the financial risk to trustees. To achieve these aims Second Chance Association has agreed a reserves policy of holding reserves to cover 9 months running costs in the event of a major problem. ## **FUTURE PLANS** Our main goal for 2025 is to continue raising funds at our previous level or above and to be able to provide donations made to more charities and community groups. There are far reaching economic changes which will influence the cost of living such as inflation and the ongoing increase in the cost of fuel and energy. This could mean less money for customers to spend and become more reluctant to replace goods & clothing which would normally be donated on to us. Therefore during 2025 we will continue to reduce the cost of lighting by replacing any remaining old equipment and to expand the variety of items we sell to include more household and electrical goods. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** The existing trustees are responsible for the recruitment of new trustees but in so doing the trustees seek the views and recommendations of other respected individuals within the local community. Potential trustees are invited to attend trustees' meetings as observers and are given more details of the charity's aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the persons eligibility, personal competence, specialist knowledge and skills. ## **Induction and training of new trustees** Following appointment, new trustees are introduced to their new role and given copies of the trust deed and a guide to the policies and procedures adopted by our charity. Several publications from the Charity Commission are also provided. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Page 2 **Second Chance Association** **Report of the Trustees for the Year Ended 31 December 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1126099 **Principal address** 30 Boston Road Sleaford Lincolnshire NG34 7ET ## **Trustees** Mr R J Munro Mrs L Freeman (resigned 8.5.24) Mr I R Freeman Mrs D M Maltby Mr J Speck (appointed 8.5.24) Mrs A Speck (appointed 8.5.24) Mr S Goodwin (appointed 17.7.24) ## **Independent Examiner** Wright Vigar Limited Chartered Accountants & Business Advisers Northgate House Northgate Sleaford Lincolnshire NG34 7BZ **Bankers** Barclays Bank Plc Market Place Newark Nottinghamshire NG24 1DY 29/10/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ Ian Freeman (Oct 30, 2025 16:08:12 GMT) Mr I R Freeman - Trustee Page 3 **Independent Examiner's Report to the Trustees of Second Chance Association** ## **Independent examiner's report to the trustees of Second Chance Association** I report to the charity trustees on my examination of the accounts of Second Chance Association (the Trust) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. James Sewell BA (Hons) FCA CTA Wright Vigar Limited Chartered Accountants & Business Advisers Northgate House Northgate Sleaford Lincolnshire NG34 7BZ Date: ............................................. Page 4 **Second Chance Association** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |**2024**
**Unrestricted**
**funds**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
145
**Charitable activities**
3
Shop
52,434
Other trading activities
2
718
**Total**
53,297
**EXPENDITURE ON**
**Charitable activities**
4
Shop
62,104
**NET INCOME/(EXPENDITURE)**
(8,807)
**RECONCILIATION OF FUNDS**
Total funds brought forward
93,600
**TOTAL FUNDS CARRIED FORWARD**
84,793|**2023**
**Total**
**funds**
**£**
388
56,390
718| |---|---| ||57,496| ||29,890| ||27,606
65,994| ||93,600| The notes form part of these financial statements Page 5 ## **Second Chance Association** ## **Balance Sheet** ## **31 December 2024** |**2024**
**Unrestricted**
**funds**
**Notes**
**£**
**FIXED ASSETS**
Tangible assets
8
197
**CURRENT ASSETS**
Debtors
9
486
Cash at bank
86,396
86,882
**CREDITORS**
Amounts falling due within one year
10
(2,286)
**NET CURRENT ASSETS**
84,596
**TOTAL ASSETS LESS CURRENT LIABILITIES**
84,793
**NET ASSETS**
84,793
**FUNDS**
11
Unrestricted funds
84,793
**TOTAL FUNDS**
84,793|**2023**
**Total**
**funds**
**£**
121
509
94,238| |---|---| ||94,747
(1,268)| ||93,479| ||93,600| ||93,600| ||93,600| ||93,600| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 29/10/2025 Ian Freeman (Oct 30, 2025 16:08:12 GMT) ............................................. Mr I R Freeman - Trustee The notes form part of these financial statements Page 6 **Second Chance Association** **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Office Equipment- cafe - 25% on reducing balance ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. OTHER TRADING ACTIVITIES** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Room hire|718|718| Page 7 continued... **Second Chance Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **3. INCOME FROM CHARITABLE ACTIVITIES** |||**2024**|**2023**| |---|---|---|---| ||**Activity**|**£**|**£**| |Sales|Shop|52,434|56,390| ## **4. CHARITABLE ACTIVITIES COSTS** |**CHARITABLE ACTIVITIES COSTS**|| |---|---| |**Direct**
**Grant**
**Costs (see**
**funding of**
**Support**
**note 5)**
**activities**
**costs**
**£**
**£**
**£**
Shop
25,818
34,641
1,645
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
**2024**
**£**
Staff costs
3,490
Rates and water
708
Insurance
1,243
Light and heat
5,990
Postage and stationery
21
Sundries
854
Repairs and renewals
951
Rent
9,200
Cleaning
3,297
Depreciation
64
25,818|**Totals**
**£**
62,104| ||**2023**
**£**
3,179
749
1,338
3,013
386
765
3,100
9,200
3,189
38| ||24,957| ## **5. DIRECT COSTS OF CHARITABLE ACTIVITIES** ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||**Unrestricted**| |---|---| ||**funds**| ||**£**| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|388| |**Charitable activities**|| |Shop|56,390| |Other trading activities|718| |**Total**|57,496| |**EXPENDITURE ON**|| |**Charitable activities**|| |Shop|29,890| |**NET INCOME**|27,606| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|65,994| Page 8 continued... **Second Chance Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ||||||**Unrestricted**| |---|---|---|---|---|---| ||||||**funds**| ||||||**£**| ||**TOTAL FUNDS CARRIED FORWARD**||||93,600| |**8.**|**TANGIBLE FIXED ASSETS**||||| ||||||**Office**| ||||||**Equipment-**| ||||||**cafe**| ||||||**£**| ||**COST**||||| ||At 1 January 2024||||2,097| ||Additions||||140| ||At 31 December 2024||||2,237| ||**DEPRECIATION**||||| ||At 1 January 2024||||1,976| ||Charge for year||||64| ||At 31 December 2024||||2,040| ||**NET BOOK VALUE**||||| ||At 31 December 2024||||197| ||At 31 December 2023||||121| |**9.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||||**2024**||**2023**| ||||**£**||**£**| ||Prepayments|||486|509| |**10.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||||**2024**||**2023**| ||||**£**||**£**| ||Trade creditors||1,086||148| ||Other creditors||1,200||1,120| ||||2,286||1,268| |**11.**|**MOVEMENT IN FUNDS**||||| ||||**Net**||| ||||**movement**||**At**| |||**At 1.1.24**|**in funds**||**31.12.24**| |||**£**|**£**||**£**| ||**Unrestricted funds**||||| ||General fund|93,600|(8,807)||84,793| ||**TOTAL FUNDS**|93,600|(8,807)||84,793| Page 9 continued... **Second Chance Association** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **11. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|53,297|(62,104)|(8,807)| |**TOTAL FUNDS**|53,297|(62,104)|(8,807)| ## **Comparatives for movement in funds** |||**Net**|| |---|---|---|---| |||**movement**|**At**| ||**At 1.1.23**|**in funds**|**31.12.23**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|65,994|27,606|93,600| |**TOTAL FUNDS**|65,994|27,606|93,600| Comparative net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|57,496|(29,890)|27,606| |**TOTAL FUNDS**|57,496|(29,890)|27,606| A current year 12 months and prior year 12 months combined position is as follows: |||**Net**|| |---|---|---|---| |||**movement**|**At**| ||**At 1.1.23**|**in funds**|**31.12.24**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|65,994|18,799|84,793| |**TOTAL FUNDS**|65,994|18,799|84,793| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|110,793|(91,994)|18,799| |**TOTAL FUNDS**|110,793|(91,994)|18,799| Page 10 continued... **Second Chance Association** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2024. Page 11 **Second Chance Association** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024** ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|145|388| |**Other trading activities**||| |Room hire|718|718| |**Charitable activities**||| |Sales|52,434|56,390| |**Total incoming resources**|53,297|57,496| |**EXPENDITURE**||| |**Charitable activities**||| |Casual labour|3,490|3,179| |Rates and water|708|749| |Insurance|1,243|1,338| |Light and heat|5,990|3,013| |Postage and stationery|21|386| |Sundries|854|765| |Repairs and renewals|951|3,100| |Rent|9,200|9,200| |Cleaning|3,297|3,189| |Fixtures and fittings|64|38| |Grants to institutions|34,641|3,363| ||60,459|28,320| |**Support costs**||| |**Finance**||| |Bank charges|443|450| |**Governance costs**||| |Accountancy and legal fees|1,202|1,120| |Total resources expended|62,104|29,890| |**Net (expenditure)/income**|(8,807)|27,606| This page does not form part of the statutory financial statements Page 12