COMPANY REGISTRATION NUMBER: 06528767 CHARiff REGISTRATION NUMBER". 1127110 Mustard Seed (SW) Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 NDRELL LIMITED Chartered Accountants The Alhenaeum Kimberley Pla Falmouth Cornwall TR113QL •DINU43M 2411212024 CCthIPANIES HOUSE W217
Mustard Seed (SW) Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees. annual report (incorporating the directorfs report) Chartered accountants report to the board of truslees on the preparation of the unaudited slatutory financial slatemenls Slatemenl of financial activities (including income and expenditure account) 10 Stalemenl of financial position 11 Notes to the financial statements 12
Mustard Seed (SW) Company Limited by Guardntee Trustees. Annual Report (Incorporating the Oirectorfs Report) Year ended 31 March 2024 The trustees. who are also the directors for the purFX)ses of company law. present their rewrt arbd the unaudited financial statements of the charity for Ihe year ended 31 March 2024. Reference and administrative details Registered charity name Mustsrd Seed {SW) Charlty feglstratlon number 1127110 Company re9istratlon number c528767 Prin¢ipal offl¢e and reglstered 14 Wendron Street offlce Helslon Comwall TR13 8PS The trustees Mrs M Bumett Mr E 8ell Mr A Hill Ms E James Mr D Terry Mrs J Colverson (Resigned 1 August 2023} Aceountsnts Paul & Maundrell Limited Chartered A¢counlanls The Athenaeum Kimbet1ey PL%e Falmouth corn11 TR11 3aL
Mustsrd Seed (SW) Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {¢ontlnuedJ Year ended 31 March 2024 Structurey governance and management Goveming Document The organis8b.on is a charitable company limited by guarantee as defined by the companies, act 20C6, incorporated on 10th March 2008 and registered as a ehanty 9th l)ecember 2008. The company was established under a Memorandum of Asscaation whth established the objects and powers of the charitable company and is govemed undef ils ArtS of Association. In the event of the company being wound up through insofvency members are required to contn'buie an amount not exceeding £1. Organisational Structure Mustard Seed ISW) has a Board of TrusteeslDirectors currently consisthng of six members (five after August 2023lwth voting rights who meet approximatety four b.mes a year. The Development Manager, although not a tru$teeldireclor. 1$ present at these meetings reporting back to the Board, taking to them recommendations for the advancement of the charity, and then bringing the Board's decisions back lo the stsff and volunleefs for implementatn. The prath.cal day to day running decisions are delegated to the Development Manager lassisled by the Administratjon team working with him) within the framework decided by the Board. 11 i8 his responsibilty lo ensure the development of the team and delivery of the charities objecb'ves. Members of the toard frequently call in and are in any case onslanlty available lo give advice and. where necessary. gNe directjon on any matter that may arise. Recruitment and Appointmenl of the Board of TrusleeslDirectors The directors of the Company are also Ihe ¢harty trustees for Ihe purkx)ses of charity law and under the companls articles are known as the Board of TrusteeslDireclors. Under the requirements of the Memorandum and Artdes of Association al each annual general meeb.ng one third of the members of the Board shall retire by rotstn bein9 able to PTesenl themselves for fe-election. All members of the 8oard gNe their bme voluntarity and receNe no benefits from the charity for their seThtces as a director. Trustee Induction and Training Trustees are selecled for their sknll sel and therefore what ty bnng into and can offer the organisalic Is the primary concem. They are enwiraged to spend time on the 'shop flooff both during the initial part of their appointment to absorb the ethos and methL*J of operati)n of the chanty and 5ubsequentty in order lo stay personaNy informed of developments al grass roots level. Related Parties Mustard Seed ISW) 1$ an independent chafity and not affiled to any olher organisation. It works with other bodies {statutory and volunlaryi to provide services to those needing them. This includes local Christian Churches. local authortty Adult Care & SupkX)rt local schoolslcolleges. St Petrrt's homeless chanty. The Lizard C.H.l.L.O. Trust. CAP. Citr£ens Adv and 'We are wlh you.. Further lo this Mustard Seed (SWI operates and manages a fo&Jbank as one of the charities Pfojecis by working in partnership with the Trussell Trust
Mustsrd Seed (SW) Company Limited by Guarantae Trustses, Annual Report (Incorporating the Directo8 Report) [Ce) Year ended 31 March 2024 Objectlves and a•VitieS Purposes and Aims The aims of the charity are test expressed by way of our mtssK)n slatement.'- "Mustard Seed exists to enhance phys1 and spiritual Wl-being and achieves this by demonstrating the k)ve of GcJ through posilwe community action.. This statement en¢omp8sses everymiing that we Stand for. both the physical and spirrtual. The holisttc well-bein9 of all with whom we come inlo contact. by demonstrating the love of God in a practical and posib've way to our community. especialty those who are most vulnerable. This may be through supporting an indNKlual wtth leaming disabilib"es, helping kjcal peOe who are experiencing food vety. serwng a cup of tea. sUppO.n9 thal businesses ty buying k)cal prfrduce. This is currendy principalty achieved thrwh the drfferent projects run by the Chanty such as the Heislon & The Lrrd f¢)odbank, our Coffee Lounge. or our work and life skills training which Mustsrd Seed is engaged in with adults wtth learning disabilities. supporting them to achieve a greater measure of independent living. encompassing home. life and workpLgce skills and our Coffee Lounge which is pop up community cafe that we run every Thursday at The Light and Lrfe Centre on Waler-ma-Troul industri81 Estsle. In In addition Mustard Seed continues to provKle work placement experience for students from lo¢al schools and colleges, induding those training for a Caer in so¢1 ¢are. We aim to do whatever it lakes to show the love of GCMJ in eVerIng we do Objectwes for the next year To buiKI w the existing work of Musiard Seed by con501hlatsng. devebpiThJ and enhancing our strengths whilst proactively dealing wilh challenges. Key wints are.. 1. Continuing to invest in and deveb)p training programme io be speth to the work which the charity is involved in, so that our most valuable asset - that being our staff and volunteers, feel empowered to undertake their rOs. 2. Continual assessment and development of the life skims training programme and during 23124 this will involve a re-tendering for our accredited provi$KJn of this seNice lo Comw811 Council. This side of the ¢haritEs work enables those we support to leam valuable life enhancing skills in a safe and nurturing environment. this being predominantty based on regular review and reassessment of each individuafs needs. 3. To review of all relevant pdIcS and wocedures. to ensure they are access)le and communicated lo all who need lo know. 4. To provide a hygienic, safe. inviting and value for money ex¢Ce to all use our facilitS S. To actively show the love of Christ to our community by developing and getting invofved in. social enterprise initiatives. 6. To ensure our foodbank is rekvant and meetsng the need of those who require IL 7. To show our local communty that what we have to offer is more than a communty space offering a foodbank. but that through various communty projects using foc*J as a medium, Mustsrd Seed
Mustard Seed (SW) Company Limitsd by Guarante• Trustees. Annual Report (Incorporating the Director's Report) (eOnlin¥•J Year ended 31 March 2024 endeavours to show the Love of Jesus in varuS prthl ways and to operate in an ethallY sound and healthy way promoting the use of hxal suppliers wherever we can. cooking all our produ¢ls from ratch and er)uraging those we support lo leam the skills lo help themselves and those around them while airning to help those we support to work t(y•rdrds gaining meaningful paid employmenl if al all possible. Strategies for Achieving Obieclives 1. To develop our paid staff and volunteers. ensuring training is accessib. consi51ent. fegular and documented, through the onwing development of a specific training programme tailored to indivhjual's ne¢¢Js. 2. Ensure that all relevant documentalion for our xcreditation as a plawient provider. policies and procedures in regard to health and safety and food hygiene and all day to day tcok-keeping and a¢¢ounting are up to dale and filed ¢orre¢lty. 3. To offer a good service with excellent support structures. foslering an environment of trust and acceptan which in ium encourages all those we ts)rne into conLt wth lo gain greater self- onfidence, whilst growng as indmduals towards reaching their indivwjual polentsal. and encouraging those we support to also others with whom they also come into contact wrlh. 4. As a C¢nMuftity space we cater for a wide and dNerse spectnjm of k)cal individuals, promoting acceptsnce of individuals with a karning disability, indtviduals who have mental heath issues and those experiencing homelessness. We prowde a staff rwm, where those we support, along with the supeNising staff and volunteers, can tske their breaks together as we feel this helps to build strong working relationships and foster5 an indu5ive environment. while ensuring Ihe community space is not overrun with people who are not customers during trading hours. 5. We want to ensure the split of those we support and paKllvolunteer staff is unifom and consistent. so that Mustard Seed can provide an excelnt level of support and training for those we support in a workplace environment to further develop the Indival'S skills. cofifidenee and sense of self-worth. 6. We encourage the team at Mustard Seed (both those we supp)rt and those supporting) to get involved in other Community based local inilialives. 7. We desire to increase Ihe number of 3¢e5 available for those we supp)rt. diveTsifying our scope to provide support appropriate to the person. helping exh individual that we support lo further integrate in our local community and further afield Staffing We have a fantastr team of patd slaff and volunteers led by the Deveh)pment Manager whh has steadily grown over the past thirteen years, all of whom have bought so much to Mustard Seed in terms of skills and quality of character, and we wouhd struggle lo undertake all that the charity does thout our team of staff and very dedicated volunteers. We are extremety blessed to have such an amazing and capable group of highly mottvated and competent 1nd[dUalS. They fulfill roles throughout the range of of aclivilies, supporb.ng those who are our serye users. This includes the Coffee Lounge. foodbank and communty space to gwe some examples of the work they do. and all parts of the lrfe skills training programme. All these activiknes provide opportunits.es for tIse we support lo work and receive training moving them fopuard to more independent li¥ing.
Mustsrd Seed (SW) Company Limited by Guarant•• Trustees. Annual Report (Incorporating tho Dirt0$ Report) (contlftu Year ended 31 March 2024 Achlevements and perlomHnce There have been a number of signfficanl achievements and developments over the year to end of March 2024 The Open Dr The Community open space although predominaiety used for our fry)dbank projecL has also en opened as a communjty drop in centre following ongoing support grants from Volunteer Cornwall and the NHS joint project to provide a Warnith bank, during the past 12 months. While this has not produced any 'sales' as such the space has been a bkssing to people struggling with being able to heat their own homes and instead have been able to come lo a wam and wethming space. rest, chat and have help regarding issues they may have where our team have been able to SnpOSt those attending lo other agencies that rnay be able to offer further help and rf needed. The grant that we obtained, was to be used to help towards the staffing costs and ub"lities of keeping this community drop in space available during that period and light refreshmenls were available to anyone attending on a donations based system. Our f¢)odbank project has conb.nued to use the spxe to distriLNJte fty)d to those in need every Monday. Wednesday and Friday. Coffee Lounge This outreach uses space provided to us by the LKJht and Life Church based at Walef-ma-Trout Industrial estsle in our town. Offering a lar9e space where sccial distancin9 was easy to accomplish and helping to provide a simple yel good quality range ol luht refreshments this has grown and become a safe haven for many individuals who would like to get out, but in a safe way. This project has continued to grow and build pace and is very much appreciated by all who come aking. People who are lonely, young families and young people alike have and are regularty attending and feel part of the community. Further help and signposkn.ng is made avaiLable if needed and has helped many in need. Helston & Lizard food bank The Helston and the Lrzard For*Jbank has continued to meet the need in the kxal area and we have seen the nurnber of those using the se1¢e during the year al 2444 people fed 1838 of whom we children). The foodbank continues to be extremety well supported by local churches and Christian oryanisations, and many local people. Mustard Seed continues lo reach out lo the wder community and proVe a safe haven for people who are vulnerable and in need, a5 individuals 11 into the Open Door lo collect their food boxes. During the past year the need has continued lo provide a delivery syslern for su¢h a widespwd rural especially who cannot use publt transport or have no other means lo ¢ollect the food. The delNery system has continued lo be an extra expenditure with the use of the vehicle in fijelhyear and learl associated costs and stsffing costs and with the need being so prominent did result in the inevitable replacement of our van just before Christmas 2023 at the tune of £6000. The Open D¢)or historicalty has been the main colWKJn point for the foodbank recipients and continues ak)ng wrth the Friday ouuet in Mullion Methodist Chapel to be this vital link in combatsng food povety in our local area. Mustard Seed Training Throughout the year much of what we have focused on is continuing to help prevent la1 exclusion and loneliness. The training krtchen on the first floor of the Open Door premises has also provided a conducive environment for those we have managed lo support our students preparing the food for both the Coffee Lounge and aso a daily special meal for Students. Volunteers and staff members as
Mustard Seed (SW Company Llmited by Guarantee Trustses. Annual Report (Incorporating th• Directorfs Report) (conllnuedj Year ended 31 March 2024 well as members of the gener81 public rf needed. Each 'studenf has a work folder which they work through al their own pace_ Each student is shown how to complete a task by working alongside a member of our team and then assessed using an observation checkhst as and when they feel ready. Christrnas Hampers Another PToject that has been operating now for the last 10 years and has grown signific8nlty is our Christrnas Hampers for faMilS and individuals who woukj othemise not be able lo have a meal on Christrnas day and during that tr.me of year. 126 Hampers feeding 504 people were organised and delivered by a team of over 1CQ volunteers during the week before Christmas day wrth all deliveries taking place on Christmas Eve. This covered a very large area of over 125 square miles and all individuals and families were referred lo us by professional agencies working wlhin our community. We have amazing support from our lo¢al communty in meety.ng the cost of provhding these hampers. Many ol the donalK*ns Ihal are gwen lo help cover the cost of this Christmas Hamper project are clear regarding the wishes of the donors in the communtion we have wth indtvkduals and organisatsons. Some of these donations, even though clearty expressed to support the Christrnas Hampers project. have been sent to us bank transfer referenced 'foodbank'. we have kept the email and paper trails to show what the orinal purpose of the dOnan is for. We just want to again reinforce that the Charity is Muslard Seed SW, wtth ami of the charity Ifoodbank, life skills training. Christmas Hampefs. Wamlh Hub elcl being a 'projecY of Mustard Seed SW, these projects are separate but also do cross over and are inteIned al times. in essence we are one team with differer¢t responsibilities, wrth one aim - lo show the Love of God in prath"¢al ways to our h)eal MMUnIty. We really do appreciate all support from our amazing community and are aware that e project we operate can only do so because of this continued finarKk81 and pracb¢al supporL
l/ Mustard Seed (SW) Trustees. Annual Report (InCOrporlng the Directorfs Reportj making grants available, each have made such a massr¥e diiference to the Charity and enable us to clents and also provthl to C(m4Yall Adull Cwe & Support woble thTS work to wr)gTess. meetings. The use of intemet banking means that we are not reliant on monthty paper slatements but PTOViThJ its wmle ra¥Je of aThJ to exts ollwrys k) Ihe gerwal publK. There were no Aliocl lunds. U n)f ¢xrrnvJ. a5 rf 31$1 21r24 slx•l a £4. •NI £12k É5 C Project. There is afso one month's salary {£8k) held on fesen training in frfe skills to the vulnerth of our c¥)mmunty. We seen Ongoi surxess vrith those supporL fftdi¥uaL% gThing in Self-Crthre and rnobvalKn. hdpiry to emwwer indt¥iduals to make
Mustsrd Seed (SW) Company Limited by Guarantse Trustses. Annual Report Ilncorporating the Directorfs Report) (conUnu8dJ Year ended 31 March 2024 Mustard Seed has conlinued to develop the He151on and The Lizard foodbank working the Trussell Trust and while we have no desire to see the need lo access this provish)n grow, Mustard Seed will contsnue to help and meet this need for the foreseeable frjture or until the need begins lo subside. Growth is usually a gcod indicatson and healthy, and although we are glad lo be seeing the foodbank expanding in one hand, we would be even happr and aim to see Ihe need for people to a¢¢ess such a service diminish and evenlually slop altcgether. Al of the above projects and services that Mustard Seed provide are a benefit to the PLsblic, provJing serv$ to those who need it wherever we can, that are eth11 of a high standard and always With the emphasis of showing the love of God in a pr&ll1-. way. Small Company provislons This repjrt has been ppared in accordance wth the provisions appluble to companies entitled to the small companies exemption. 231.:4knLg... The trustees. annual report was approved on .... trustees by.. and signed on behalf of the board of MrDTery Trustee ' Mrs J Cofverson Trustee
Mustard Seed (SW) Company Limited by Guaranteg Chartered Accountants Report to tho Board of Trustees on the Preparation of the Unauditsd Statutory Financial Statements of Mustsrd Seed (SW) Year ended 31 March 2024 As des¢ribed on the statement of financial position. the trustees of the charity are responsibk for the PffP8ration of the financial statements for the year ended 31 March 2024. which comprise the statement of financial activities lincluding income and expenditure account), statement of finan¢ial position and the related notes. You consider that the charity is exempl from an audit under the Companies Act 20C6. In accordance with your instrucb.ons we have compiled these financ statements in order to assist you lo fulfil youi statutory responsibiliknes. from the accountin9 records and from informalion and explanations supplied lo us. Pa c NaJL PAUL & MAUNDRELL LIMITED Chartered Accountants The Alhenaeurn Kimbedey Pla¢e Falmouth Comwall TR113QL
Mustsrd Seed (SW) Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 ReStrted funds Total fund$ Total funds 2023 unStrICted funds Income and endowments Donations and legacies Choritable activities Investment incoff 66,921 71,041 2.928 140.890 66,921 95,288 2,928 61.470 85.706 1.371 148,547 24.247 Total Income 24.247 165.137 Expenditur¢ Expenditure on chafilable acbvrt Total expenditure 171.937 171,937 20.225 192,162 192.162 157,706 157,7C6 20.225 Net expendlture and net movement In funds {31.047) 127,025) 19,1591 Reconclliation of funds Total funds brought forward Totsl funds ¢arrled for4vard 170,046 138.999 33.760 37,782 203,8C6 176.781 212,965 203.806 The Statement of finanu* aciNtti"es indudes all gains and kjsses recognised in the year. All income and expenditure derive from continuing acts"vities. The notes on pages 12 to 22 form part ofthese financlal statements. 10
Mustard Seed (SW) Company Limlted by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Noto Fixed asset8 Tangible fixed assets 15 54,873 .053 Current assets Stocks Debtors Cash al bank and in hand 16 17 2,799 18.511 105.332 126,642 1.697 18,074 132,202 151,973 Cr1¢0. amounts falling du¢ wlthin one y¢•r Net ¢urrent assets 18 4.734 121,908 176.781 4,220 147,753 203,806 Tolal assets less current liabilities Net assets 176.781 203,806 Funds of the charity Restricted funds Unrestricted funds 37,782 138,999 176,781 33.760 170.046 203.806 Total charfty funds For the year ending 31 March 2024 the ¢harity was entsued to exemption from audit under seclion 477 of the Companies Act 2C#J6 relating to small Compan$. Directors. spOnsibl1111e$= The members have not required the company lo obtain audit of its financial statements for the year in question in accordan with sectson 476.. The directors thowledge their responsibilities for comptying with the requirements of the Act wrth respect to xcounling records and the preparan of finanual statements. These financial statements have been prepared in cordae the PTOViSK)ns applicable to companies subject lo the small companies. regime. These financial slalements wefe approved by the board of tfustees and authorised for issue on 25 and are Signed on tehatf of the board by.. MrDTe Twstee Mrs J Colverson Trustee The nole¥ on paw 12 to 22 forni of the¥e fin•n¢l•l ststements. 11
Mustard Seed (SW) Company Limited by Guarantee Notss to the Financial Statements Year ended 31 March 2024 General Infomiatlon The eharity is a public benefit entr.ty arKI a privaie company limrted by guarantee, registered in England and Wales and a regislered charity in England and Wales. The address of the registered ofrice is 14 Wendron Street, Helston, Cornvrdll. TR13 8PS. Statement of compllance These financial sLqtemenls have l)¢en prepared in compliance 4Mth FRS 102, 'Thè Financial Reporting Sndard applicable in the UK and the Republic of IreLAnd'. the Slalement of Recommended Practice applicable to charities preparing their &counts in accordance wrth the Financial Reports"n9 Stsndard ap1¢able in the UK and Republ of Ireland {FRS 1021 (Charities SORP IFRS 102)) and the Companies Aet 2C#J6. A¢countlng pollcles 8a$is of prpparation The financial statements have been prepared on Ihe histori¢al cost basis. as modthed by the revaluation of eertsin financial assets arKI lialy'lities and inveslment prope$ rneasud at fair value through income or expenditure. The financial statements are prepared in sterfing, whth the"functional currenry of the entity. Going con¢ern There are material uncertainlies about the charitys ability to contrnue. D15closurg exemptions The entity satisfies the criteria for being a small entsty and has thus taken advantage of the disclosure exemption from preparing a cash flow statement. Judgements and kty sourcos of ostlmation UnrtaInty The preparakn'on of the financial slatements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are conlinuaNy reviewed and are based on expeiienee and other factors, including expectatrons of future events that are beled to be reasonab under the circumstances. Fund accountlng Unrestricted furKls are available for use at the discretb)n of the trustee5 to fvrther any of the charitys purposes. Designated fvnds are unreslricted funds earmarked by the trustees for particular future project or commrtmenl. Restricted fvnd5 are subjecled lo restrictions on their expenditure deClad by the donor or throvgh the tems of an appeal. and fall into one of sub-classes." restricted income funds of endowment fun¢Js. 12
Mustsrd Seed (SW) Company Limited by Guarantse Notes to the Financial Statsments {¢tytsftuo Yoar ended 31 March 2024 A¢counllng policies (¢th7Unuedl Incoming resour¢¢s l incoming resources are induded in the statement of financial activities when entitlement has passed lo the ¢hanty'. it is probable that the economic benefits ass(lated Ihe transa¢b'on will flow lo the charity and the amount can be 11abfy measured. The folbw'ng Specif policies a applied lo particular caiegories of income". income from donations or grants is recognised when the is evhjence of entitlemenl to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt bs probabbe and entitlement is established. income from donated goods is measured at the fair value of the goods unless this 1$ impractical to measure reliabty. in which case the value is derNed from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No anb)unts are indu¢Yed for the contribution of general volunteers. income from contracts for the suppty of se5 B recognised with the delivery of the contracted service. This is classtfied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed rf unspent. in vthich case it may be regarded as restn"¢led. ResOue$ expended Expenditure is recognised on an accnjals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fulty recovered, and is dassrfd under headings of the statement of financial a¢livities to which it relates." expenditure on raising funds includes the costs of all fundraising activities, events, non- harilable trading a¢bvrts. and the s* of donated gcods. expenditure on charrtable ath"vities in¢ludes all costs in¢u(red by a ¢harity in undertaking aelivities that further its charitable aims for the benefft of its beneffieiaries, including those support costs and costs relats.ng lo the governance ol the charity apportioned to ¢harilabk acb"vities. other expenditure indudes all expenditure that is neither related to raising funds for the charity nor part of its expendrture on thwitabbe acbvths. All Costs are allocated to exFenditure categories reflects.ng the use of the resource. Direct costs attributsble to a single ath.vity are allocated directty to that aetivty. Shared costs are apporb'oned befven the activities they contribute to on a feasonable. justsfiable and consistent basis. 13
Mustard Seed (SW) Company Llmited by Guarantee Notes to the Financial Statements (CL¥JVnu¢d) Year ended 31 March 2024 Accounting pollcles {conllnu•rfJ Intangible assets Intangible assets are inilialty recorded al cost. aThl are subsequently ststed al cost less any accumulated amorknsalion and impaimienl losses. Any Intangib assets carried at revalued amounts, are recorded at the fair value al the date of revaluab'on, as delerrnined by reference to an ath.ve market, less any subsequent uMulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business coMbinatn are only re¢ognised separatety from goodwill when they arise from contractual or other legal rights, are separable, the expected future econom benefits are probable and the cost or vae can be Measured lIablY. Amorti5atlon Amortisalion is cakulated so as to write off the cost of an osset. less its estimated residual value, over the useful lrfe of that asset as follows.. DeveIoFnen¢ costs Straight line over 5 years If there is an indtiOn that there has been a significanl change in amortisation rate, useful life or sidual value of an intsngible asseL the aMrtI5atn is re¥i5ed prospectivety to refle¢t the new eslimales. Roso•rch and d•velopment Research expenditure is written off in Ihe peric*J in which it is incurred. Development expenditure lnUJr is capitalised as an Intangib asset onty when all of the folknying crrteria are met. It is technically feIe to coMpte the intangible asset so that il will be available for use or sale., There is the intention to COMpte the intangible asset and use or sell il.. There is the abilty to use or sell the intangible asseL The use or sale of the intangible asset will generate probable future economic benefits.. There are adequate technical. finanual and other resources availab to complete the development and lo use or sell the intangibk asset. and The expenditure 8ttn"butable lo the intan9ible assel during its development can be measured reliabty. Expenditure that does not meet the atove uileria B expensed as incurred. Tanglblg assets Tangib assets are initialty recorded at cosL and subsequenty ststed at cost kss ar accumulated depreciation and impaimient losses. Any tsngible assets carned at revalued amounts are recorded at the fair value at the dale of revaluation les5 any subsequenl accumulated depCia.0n and subsequent accumulated impairment losses. 14
Mustard Seed (SW) Company Limited by Guarantee Notes to the Financial Statements l¢tyJth4*0) Year ended 31 March 2024 Accounllng pollcles {conllnu8dJ Tanglble assets (¢Onllnuod) An inuea5e in the tsTng amount of an asset as a result of a revaluation, rs wognised in other re¢ognised gains and bsses, unless it reverses a charge for impaiment that has previously been recognised as expenditure wlhin the ststement of financial activities. A decrease in the carying amount of an asset as a resu of revaluatson, is recL)3nised in other recognised gains and losses, except to which rt offsets any previous revaluats.on gain, in which case the loss is shown within other re¢ognised gains and losses on the statement of financrdl activities. Depieciation Depreciation is cakulated so as to write off the cost or vauation of an asset. less ils residual value. over the useful econom life of Ihat asset as frAbws'. Freehold property Short leasehold property Plant and machinery Fixtures and ffttings 'Motor vehicles Straight line over 20 years Straight line over lrfe of the ase 20% Str?ht line 25% Strah1 line 25% straight line Impairnwnt of fixed ¥ss¢ts A review for indicators of impaimient i8 carried out at each reporting date. with the recoverable amount being estimated where such indicalors exist. Where the carrying value eXedS the recoverable amount, the asset is impaired a¢cordingty. Prior impaimients ¥e also reviewed for possible reversal at each reF¥Jrting dale. For the purposes of impairmenl tesb'ng. when it is Mt wssible to estimate the recoverab18 amount of an indNidual asset, an ests.mate B made of the recoverable amount of the cash- generats.ng unit to whi¢h the asset lOngS. The ¢ash-generating unit is the smallest tdentifiable group of assets that includes the asset and generates cash infk)ws that largety independent of the cash inflows from other assets or groups of assets. For impaiment tesb'ng of gocKlwill. the goC1 acquired in a business com'nation is. from the acquisition dale. althaled lo each of the cash-generating units that are expecled lo benefit from the synergies of the combinatn, iTspeC"ve of whether other assets or liabilities of the charity are assigned to those units. Stocks stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present thatM)n and cOlI1n. Fln•n¢lal In$tNments A finanaal asset or a finan¢ial liabilty is recognised onty when the charity be¢omes a paty lo the Contractual provisions of the instwmenL 16
Mustard Seed (SW) Company Limited by Guarantee Notes to the Financlal Statements (¢onlh>ywdJ Year ended 31 March 2024 countlng policles (tonknued) Financial Instruments fc¢ Basic financial instruments are inthty recOgnd * the amount receivabb or payable including any related transaclion c05ts. Current assets and current I1lIeS are subsequently measured at the cash or other ¢onsiderab"on exp8¢ted to be paid or received and not discounted. Debt inslmmen15 are subsequentty measured at amorb.sed Cost. Where invesknienls in shares are publicty traded or their fair value can otheIse be measLsred reliably. the investment is subsequenuy measured ot fair value with changes in fair valuè recognised in income and expenditure. 1 other such wivestments are subsequently measured at cost less impairment. Other financial instnjmenls, including derivatives. are initialty recognised at fair value. unless payment for an asset is deferred b2yond nomal business temis or financed at a rale of interest Ihal is not a market rate. in which case the asset is measured al the Present value of the fviure payments discounted al 3 mathet rate of interest for a similar debt instrumenL Other financial inslwments are subsequentty measured al fair value, with any changes recognised in the statement of financral actiVits, with the exception of hedging instruments in a designated hedging relalionshp. . Financkgl assets that are measured at eosl or amorti5ed cost are revEwed for objective evidenee of impaimenl at the end of each reporting date. If there is objeclNe evhdence of impairment, an impairment loss is rewnised under the appropnale heading in the slatemenl of financial activities in whh the initial gain was reccJnised. For all equity bnstruments regardless of signrficance. and other financial assets that are individualty significant these a assessed tndNidually for impaimient. Other financial assets are erther assessed indNKlually or grouped on the basis of similar uedit risk eharacterisli¢s. Any rèversals of impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the amount would have been had the impairnient not previousty been reccgnised. Defined contrfbutlon plans Contributions to defined contr"button plans are recognised as an expense In the period in which the related service is provKled. prep contributions are recc4Jnised as an asset to the extent that the Fyepayment will ad to a reduction in future payments or a cash refund. When contributions are not expected lo be settled wholly within 12 rnonths of the end of the rewrting date in whith the employees render the reLited semce. the liabilty ts measured on a discounted present value bas_ The unwnding of the discount is recognised as an expen* in the period in which rt arises. 16
Mustsrd Seed (SW) Company Limited by Guarantse Notss lo the Financlal Ststements (riv Year ended 31 March 2024 Llmfted by guarantso Mustard Seed (SW)ts a company limited by guarantee govemed by its Memorandum and Articles of AssociatK)n. It is registered as a charty with the Charity Commission.Every member of the charity undertakes to contribute such amount as may be required Inol exceeding £1.00)lo the charity's assets rf it should be wound up while he or she is a member or within one year after he or she ceases to be a member. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations Gift aid giving 29,945 8,441 29,945 8,441 Grants Grants Grants receivable type 2 25,iY)O 3.535 25,000 3,535 66,921 66,921 Unrestricted Reslricted Total Funds Funds Fund$ 2023 Donalions Donations Gift aid giving 25,789 21.681 25,789 21,681 Grants Gfanls Grants receivable tyFe 2 14.000 14.OCII 47.470 14.000 61.470 Charltable actlvltle8 unrestn.cied Funds Restricted Totsl Funds Funds 2024 Open door Cafe sales General rent Social services Food bank 17,560 12,078 41.403 17,560 12,078 41,403 24,247 24,247 24,247 71.041 95,288 17
Mustard Seed ISW) Company Llmited by Guarantse Notes to Ihe Flnancial SL1tem•nts {eonJRu8d) Year ended 31 March 2024 Charitablo actlvlties (¢onthuod) Unrestricted Funds Restricted Total Funds Funds 2023 Open door Cafe sales General rent Srtial services F¢xJd bank 13,554 13,554 8.648 37,205 26.299 37.205 26,299 26.299 59.407 85,706 Invostment In¢omo Unrestrthd Total Fun(ts Unrestrrcted Total Funds Funds 2024 Funds 2023 Bank interest 2.928 2.928 1.371 1,371 8. Expondlturn on ¢harilable a¢tivitsgs by lund typ• Unrestrthd Restricted Totsl Funds Funds Funds 2024 Direct Chantab acbviiies Support costs 166.116 5.821 20.225 186,341 5,821 171,937 20.225 192,162 UreStrted Funds Restricted Totsl Funds Funds 2023 Direet charitable activrt" ies Support costs 108,677 6.840 42,189 150.866 6.840 11 S.517 42.189 157.706 ExpeTrd1re on charllable athlties by actlvty typ• Activrties urKlertaken direcuy Support r Total funds 2024 Totsl fund 2023 Direct charitable actNiiies Goveman¢e eosts 186,341 186,341 5,821 192.162 150,866 6.840 157.706 5,821 5.821 186.341 18
Mustard Seed (SW) Company Limited by Guarantee Not•s to the Financial Statements (conthiu8d) Year ended 31 March 2024 10. An•lysis of support costs Anatysi$ of SUPFQrt Costs activty 1 Totsl 2024 Total 2023 G0Veman Costs 5,822 5,822 7,055 11. Not 0xpendIre Net expenditure is stated after chargingllcredibng).. 2024 2023 Depre¢iats"on of tangibie fixed assets 7.704 6.751 12. Stsff costs The average head count of employees during the year wa$ 17 (2023: 9}. The average number of full-time equivalent employees during the year is anatysed as folbws: 2024 No. 2023 No. Number of staff 17 No employee received empknyee benefits of more Ihan £60.000 during the year12023: Nil). 13. Tntstee remunerallon and expenses no remuneration or other beneffts from empbyment with the charty or a reLqled entity were re¢eived by the trustees. 14. Intanglble assets Development eosts Cost At 1 Apfll 2023 •nd 31 March 2024 Amortisation At 1 April 2023 and 31 March 2024 Carrylng amount At 31 March 2024 380 380 At 31 March 2023 19
Mustard Seed (SW) Cornpany Limitsd by Guarantee Notes to the Financial Statements Year ended 31 March 2024 1S. Tanglble fixèd assets Short Freehold leasehokj Plant and Fixtures and property propety mathinery fitb.ngs Motor vehic$ Total C¢yJt At l Apr 2023 Additions 104.438 922 7,883 2,500 5.995 152,227 6,524 158,751 529 At 31 Mar 2024 104.438 922 37,013 7.883 8,495 Depreclatlon At 1 Apr 2023 Charge for the year 50.188 36.040 6,938 96.174 5.221 592 1,499 7.704 Al 31 Mar 2024 55.409 554 7.530 3,999 103,878 Carrylng amount At 31 Mar 2024 49.029 54,250 627 353 4,496 54,873 56,053 At 31 Mar2023 414 16. Stocks 2024 2023 Work In progress Finished goods and goods for resale 2,499 300 1,359 338 2,799 1.697 17. D•btors 2024 2023 Trade debtors Prepayments and accrued income 12,868 5,643 18.S11 12,373 5,701 18.074 18. Credltors: amounts falllng due withln one year 2024 2023 Trade credrtors A¢cruals and deferred income Social security and other tsxes 927 2.031 1.776 1,604 1,917 699 4,734 4.220 20
Mustard Seed (SW) Company Limitsd by Guarant•• Not•$ to tho Financlal Statements Iconllnu#d) Year ended 31 March 2024 19. Penslons and other post retlrement beneflts Defined contrlbutk*n plans The amount recognised in income or expendilure as an expense in relation to defined contribution plans was £2.391 {2023: £1.650}. 20. Analysis of charitable funds Unrestrlcted funds At 1 April 2023 Income Expenditure 31 March 2024 General funds 170.046 140,890 1171,937) 138,999 1 April 2022 Income Expenditure 31 March 2023 General funds 177.315 108.248 {115,517} 170,046 Restricted funds At Income Expenditu 31 Mar¢h 2024 1 April 2023 Resth"cted funds 33.760 24,247 (20.2251 37.782 At 1 Awl 2022 At Income Expenditure 31 March 2023 Restricted funds 35.650 40.299 (42,189) 33,760 21
Mustard Seed (SW) Company Limited by Guarantee Notes lo the Financial Statements Year ended 31 March 2024 21. Anatysls of not assots bgtWo•Th funds Unrestricted Restricted Totsl Funds Funds Fund5 2024 Tangible ffxed assets Current assets Credrtors less than 1 year Net assets 54.873 88.859 {4,7331 138.999 54,873 126,641 14,733) 176.781 37,782 37,782 UnrestricW Restricted Totsl Fund$ Funds Funds 2023 Tan9ible fixed assets Current assets Creditors less than 1 year Net assets 56.053 118.213 14.2201 170.046 56,053 151,973 14,220) 203,806 33,760 33.760 22. Spare other noi• 2