Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Company registration number.. 06754603 Charity registration number.. 1128013 Charitable Giving IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 April 2024
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Contents Trustees, Report 2to7 Statement of Trustees, Responsibilities Independent Auditors, Report 9t012 Statement of Financial Activities 13 Balance Sheet 14 Notes to the Financial Statements 15to23
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Reference and Administrative Details Trustees.. Mr P D Armstrong MrCRBBrook ColPRLLane Mr E M G Roberts MrJRSale Mrs J Smart Mr R P Jones (resigned 8 September 20231 Ms C Furze lappoinled 19 May 20231 Mr D Pressey (appointed 2 March 20241 Mr C Tremain (appointed 8 September 2023) Secretary.. Mrs J Smart Senior Management l Leadership Mrs C Mortimore, Chief Executive Officer Team.. Mrs S Sherrell, Finance Manager Registered and Principal Office.. Unil C4 Union Mine Road Pitts Cleave Tavistock Devon PL19 ONS The Charity is incorporated in England and Wales. Charity Registration Number.. Company Registration Number.. 06754603 1128013 Solicitors.. Stephens Scown LLP Osprey House Malpas Road Truro Comwall TR1 1UT Bankers.. Lloyds Bank 13 Broad Slr8el Launceston Comwall PL15 8AG Auditor-. PKF Francis Clark 18, Unil 23 Melville Building East Royal William Yard Plymouth Devon PL1 3GW Pag8 1
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Trustees, Report The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 30 April 2024. Status The Charity is limited by guarantee, having no share capitsl. It is a registered charity. The Company was incorporated on 20 November 2008 and is bound by its Memorandum and Articles of Association. The Charity became registered with the Charity Commission on 12 February 2009. Principal Activity The principal activity of the Charity during the year was the administration of the distribution of charitable donations for.. 1 Individual donors through the PayToII Giving scheme., 2 Employers in developing their corporate social responsibilities in support of their charitable aims., and 3 Foundations and major corporations in managing the distribution of their charitable funds and donations in an efficient and economical manner. Charity's Objectives The Charity's objectives are the encouragement of the effectiveness and efficiency of charities by promoting and advising upon lax efficient giving, counselling on fundraising strategy and providing fundraising support and administrative services. In order lo achieve its objectives, the Charity will work with employers and charitable organisalions lo.. Introduce and develop the payroll giving scheme., Advise employers on fundraising in the workplace., Assist employers in developing their corporate and community charitable activities,. and Provide an efficient and cost effective service for the distribution of charitable donations. Pag8 2
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Trustees, Report Structure and Electlon Process The Board of Trustees, a t)ody of not less than 4, bul with no maximum, controls the Charity. Trustees are elected by a quorum of al least 4 members of the Board of Trustees. In the event of the Charity being wound up, the liability of the members is limited to £10. The Board links governance and management functions through the Chief Executive Officer. All Board authority delegated to the day lo day operational organisalion is delegated through the Chief Executive Officer, so that all authority and accountsbilily for the operational organisalion is considered to belong to the Chief Executive Officer. The Chief Executive Officer has full authority to manage the day lo day running of the business according to the Scheme of Delegation which is reviewed by the Board on an annual basis. Pag8 3
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Trustees, Report Revlew of the Year and Future Developments Unpredictable and unsettling global conditions required that the Financial Year was approached initially with a degree of caution. Rising interest rates and utility expenses for the charity, along with concern over how and rf the cost-of-living crisis would impact the volume of individual andlor corporate donations, created the need for a conservative and measured approach as the period began. Electronic efficiencies continued to be developed and rolled out and team skills consolidated, to provide clients with the most cost-effective and user-friendly service. However, despite initial concerns, new clients continued lo approach Charitable Giving, attracted by the personal service and quick turn8round on communications and contract set-up. Many employers were keen to further develop their Corporate Programmes to support employee fundraising as well as offering matching of Payroll Giving donations having identified this as an important part of CSR and ESG policies in an increasingly demanding and difficult employment market. The combined efforts of charities and other Payroll Giving stakeholders {e.g. Professional Fundraising Organisationsl, raised awareness through Payroll Giving month and beyond adding lo the overall excitement and delerminalion of employers and individuals alike lo lap into the opportunity lo give lax efficiently. In addition, CG was pleased to support and participate in campaigns such as 'Accessible Payroll Giving,, lobbwng lo oblige more employers to offer the scheme. 11 has also been delighted lo be part of a long-sought-after wort(ing group liaising more closely with the Government through the Department for Culture Media and Sport lo enlist Ministerial support across all available platforms. This year saw members of the Charitable Giving team contribute to the new governmenl-endorsed Quality Mark Certificate eligibility criteria rewarding businesses large and small on a more level playing field and creating further inntiveS for them lo aspire to achieve the very highest levels. As the business continued to grow, and under the guidance of the new Operations Manager, Charitable Giving embarked on a significant IT upgrade project. This included new high-spec desktop PCS for all team members. A further and equally significant upgrade to servers and other 'behind the scenes. technology was approved by the Board and begun in earnest as well. Further high-level recrLJitment took place at the beginning of 2024, and as the Financial Year drew to a close, Charitable Giving's Senior Management Team were delighted to welcome their new Communications & Partnerships Manager into the fold. This new appointment will add further strength and breadth to the leadership al the lop of the business and is designed to enhance Charitsble Giving's social media presence and ensure business communications al the highest and most professional level as the charity looks to progress towards a new, proactive and dynamic 5-Year Strategy. With all the above in mind and the bandwidth now built into both team personnel and technology, there is a strong confidence that the charity will continue as a going concern and further develop ils client portfolio during the year aheadl Despite the Board's initial caution regarding the charity's perf0mlan throughout the year, end-of-year figures confirmed that distribution to charities across all areas of the business exceeded £52m-an unexpected and welcome increase on the previous year, after all. Pag8 4
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Trustees, Report Materlal Fraud Between April and May 2024 £192,000 of funds were misappropriated from Charitable Giving. This crime is subject to an ongoing criminal investigation. The theft was flagged by the controls operating in the business, which prevented any additional losses. The control environment operating in the bLJsiness is Ljnder review and the Trustees are taking action to strengthen it. Some of the missing funds have already been recovered and the Charity is in contact with various parties as to the recovery of the balance. The fraLJd does not impact the Charity s ability lo function as a going concern nor its capacity lo fulfil ils continuing obligations. Pag8 5
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Trustees, Report Recrultment and appolntment of Trustees A programme of rolling retirement from the Board of Trustees has been introduced in anlicipalion of one retirement each Financial Year. Retirements are based on length of service and where there is duplication, retirees are selected based on alphabetical rotation to avoid multiple losses lof skills and experience) from the Board at one time. Trustee recruilmenl is an ongoing agenda item at quarterly Board Meetings and a skills matrix is maintained lo identify strengths and ensure a reasonable level of diversity and relevant experience among members. Trustees are elected by a quorum of at least 4 members of the Board of Trustees. Results The Charity has a surplus of £108,39612023.. £40,707) on unrestricted funds for the year. Reserves The policy of the Board is lo sel a level of reserves sufficient to meet the fixed costs of the Charity for a period of six months. The reserves policy will be reviewed annually. The balance of unreslricled funds at 30 April 2024 was £672,156 {2023 - £563,760) of which £427,33512023 - £362,1121, being the net current assets, is regarded as free reserves. Surplus funds will be used to further the Charity s objectives. Principal Risk and Uncertainties The Trustees of Charitable Giving maintain a risk register which is reviewed quarterfy. The main risks to Charitable Giving are.. 1 IT failure- 2 Property damage., 3 Loss of key personnel., and 4 Financial loss of deposits. The Trustees have established systems and procedures lo alleviate the above by full use of off-site back-up, Ljndersludy personnel and reserved alternative office accommodation. Deposits held on behalf of third parties before distribution are held with recognised UK established banks including some term deposits of no more than 24 months. Financial Risk Management Objectives and Policies The Charills activities expose il to a number of financial, cash flow, and liquidity risks. The Charity has in pla the structure lo manage these risks with varioLJS established banks and through effective budgeting and monitoring of performance. Included in the budget is a capital expenditure budget, which is approved by the Board of Trustees prior to any significant expenditure being incurred. Prlce rlsk. credlt rlsk, Ilquldlty rlsk and cash flow rlsk The Charity's main expense is wages and salaries. Any significant fluclualions in minimum wage, or employment taxes could have a significant impact on the Charity. Salary costs are continually monitored against budget and market rates lo ensure these are aligned. There is little exposure lo credit risk as donations are paid lo Charity beneficiaries once the income has been received from the donor. Cash deposits are held in various accounts lo spread risk. Pag8 6
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Trustees, Report Publlc Beneflt The Trustees confirm that they have complied with the duly of the Charities Act 2011 to have due regard to the Charity Commission for England and Wales's general guidance on public benefit in exercising their power or duties. They have referred to this guidance when reviewing the Charities aims and objectives and in planning ils future aclivilies. Tmstees Mr P D Armstrong MrCRBBrook ColPRLLane Mr E M G Roberts MrJRSale Mrs J Smart Mr R P Jones (resigned 8 September 20231 Ms C Furze {appointed 19 May 20231 Mr D Pressey (appointed 2 March 20241 Mr C Tremain (appointed 8 September 20231 Disclosure of Information to Auditor Each Trustee has taken steps that they ought lo have taken as a Trustee in order to make themselves aware of any relevant audit information and lo establish that the Charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. Small Companles Provlslon Statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the Trustees of the Charity on behalf by.. 16/08124 and signed on ils MrJRSale Trustee Pag8 7
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Statement of Trustees, Responsibilities The TrLJStees (who are also the directors of Charitable Giving for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Trustees lo prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitsble company for that period. In preparing these financial stslements, the Trustees are required lo: select suitable accounting policies and apply them consislenlly., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent-, stale whether applicable accounting standards, comprising FRS 102 have been followed, subject lo any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable comp8nVs website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees of the Charity on . 161.081.24 and signed on its behalf by. MrJRSale Trustee Pag8 8
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Opinion We have audited the financial statements of Charitsble Giving Ilhe 'Charily'l for the year ended 30 April 2024, which comprise the Ststemenl of Financial Activities, Balance Sheet, and Notes lo the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Charity's affairs as al 30 April 2024 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material UnrtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Pag8 9
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Other information The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except lo the exlenl olhetwise explicitly slated in our report, we do not express any fom of assurance conclusion thereon. In wnnection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infomialion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information. we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work underiaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial stslemenls- and the Trustees, Report has been prepared in accordance with 8ppIic8ble legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees. Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees remuneration specified by law are not made., or we have not received all the infomialion and explanations we require for our audit. Responsibilities of Tru$tg8S As explained more fully in the Slalement of Trustees, Responsibilities Isel out on page 81, the Trustees are responsible for the preparation of the financial stslemenls and for being satisfied that they give a true and fair view, and for such internal control as the Trustees delemiine is necessary lo enable the preparation of financial ststemenls that are free from material misstslement, whether due to fraud or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the Trustees either intend lo liquidate the Charity or lo cease operations, or have no realistic alternative bul to do so. Page 10
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Auditor responsibilities for the audit of thg financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslatemenl when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling iegUlaties, including fraud is detailed below.. As part of our audit planning, through discussions with management, we obtained an understanding of the legal and regulatory framework that is applicable to Charitable Giving and the sector in which it operates to identify the key18ws and regulations affecting the charitable company. The key laws and regulations we identified were General Data Protection Regulations IGDPRI. Fundraising Regulations, health and safety laws, and employment laws. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily the Companies Act 2006, the Charities Act 2011, relevant tsx compliance regulations in the UK, and reporting framework Icharilies SORP - FRS 1021. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which may be fundamental the charills ability lo operate or lo avoid a material penalty. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial slalemenls (including the risk of override of conlrolsl and determined that the principal risks related lo fraudulent financial reporting, in particular lo grant funding received. Audit procedures performed by the engagement team include, but were not limited lo, discussions and inquiries with management of Complian with laws and regulations, reviewing the clients laws and regulations file including ISO audit reports, and reviewing Board minutes and significant legal costs incurred in the year. We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was eviden of bias by the Trustees that represented a risk of material misslatemenl due lo fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial slatemenls, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due lo fraud is higher than the risk of not delecling one resulting from error, as fraud may involve deliberrate concealment by, for example, forgery or intentional misrepresentations, or through collLJSiOn. A further description of our responsibilities for the audit of the financial statements is located on the Financi81 Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report. Page11
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Use of our report This report is made solely lo the charitable company's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the Charity's Trustees those mallers we are required lo stale to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not a¢p1 or assume responsibility lo anyone other than the charitable company and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed. 71X8$FfjP(bV2A7F.............. James Barrett (Senior Statutory Audilorl For and on behalf of PKF Francis Clark. Statutory Auditor 18. Unit 23 Melville Building East Royal William Yard Plymouth Devon PL13GW Date.. 22J.06124 Page 12
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Statement of Financial Activities for the Year Ended 30 April 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Total 2023 Note Income and Endowments from: Charitable activities Investment income 455,881 169,582 455,881 169,582 475,906 21,215 Total Income 625,463 625,463 497,121 Expenditure on: Charitable activities Other expenditLJre Total Expenditure {517,1401 73 {517,1401 73 1456,5041 90 517,067 517,067 456,414 Net income 108,396 108,396 40,707 Net movement in funds 108,396 108,396 40,707 Reconclllatlon of funds Total funds brought forward 563,760 563,760 523,053 Total funds carried forward 672,156 672,156 563,760 All amounts shown in the comparative column above relate to unrestricted funds. All of the Charity's activities derive from continuing operations during the above periods. The notes on pages 15 to 23 fomi an integral part of these financial statements. Page 13
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving (Registration number: 06754603) Balance Sheet as at 30 April 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets 10 58,253 266,092 65,379 223,792 324,345 289,171 Currgnt assets Debtors Cash at bank and in hand 12 133,551 357,527 60,903 356,631 491,078 417,534 Credltors: Amounts falllng due wlthln one year 163,7431 155,4221 Net current assets 427,335 362,112 Total assets less current liabilities 751,680 651,283 Creditors: Amounts falling due after morg than one year 14 79,524 87,523 Net assets 672,156 563,760 Funds ofthe Charlty: Unrestricted income funds Unrestricted funds 672,156 563,760 Total funds 17 672,156 563,760 The financial statements on pages 13 to 23 were approved by the Trustees, and authorised for issue on ..16108/.24 and signed on their behalf by.. MrJRSale Trustee The notes on pages 15 to 23 fomi an integral part of these financial statements. Page 14
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 1 Charity status The Charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share Capitsl. Each of the Members are liable to contribute an amount not eXeding £10 towards the assets of the Charity in the event of liquidation. The address of ils registered office is.. Unit C4 Union Mine Road Pitts Cleave T8vislock Devon PL19 ONS The principal pla of business is.. Unit C4 Union Mine Road Pitts Cleave Tavislock Devon PL19 ONS 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all the years presented, unless otherwise slated. Statement of compliance The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities- Stslemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 {Charilies SORP {FRS 102}l. They also comply with the Companies Ad 2006 and Charities Act 2011. Basis of preparation Charitable Giving meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Going concern The Trustees consider that there are no material uncertainties about the Charills ability lo continue as a going concern nor any significant areas of UnrtaintY that affect the carrying value of assets held by the Charity. Accordingly accounts have been prepared on a going concern basis. Page 15
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 Income and endowmgnts The charity acts as agent co-ordinating the raising and distribution of funds from employees and employers to charities for the purpose of section 202 Income and Corporation Taxes Act 1998. Donations received and distributed on behalf of employees and employers are not reflected in the Slalemenl of Financial Aclivilies. Adminislralion services income is recognised in the period in which donations are received and is based on a fixed rale per donor. L)onations and legacies Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and il is probable that these conditions will be fulfilled in the reporting period. Expenditure Expenditure is charged on an accruals basis, inclusive of irrecoverable VAT. Charitable expenditure comprises those costs directly incurred in the pursuance of the Charity's charitable aclivily, the administration and promotion of payroll giving schemes. Charitable activities Charitable expenditure comprises those costs incurred by the Charity in the delivery of ils activities and services for ils beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary lo support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capila, staff costs by the time spent and other costs by their usage. Government grants Grants relating to the Coronavirus Job Retention Scheme are recognised in the period in which the associated wages and salaries expenditure is incurred. Taxation As the Charity is a registered charity and a non-profit making organisation, no tax liability exists on its activities. Intangible fixed assets and amortisation Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives. Amortisalion is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows.. Page 16
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 Asset class Other intangible asset Website and bespoke computer programs Amortisation method and rate 15 years slraighl line 33'/0, 10 10 and 6.67'/0 Straight line Tangible fixed assets and depreciation Fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as lo write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class Freehold propety Fixtures, fittings and office equipment Computer equipment Depreciation method and rate 50 years slraighl line 25,/0 reducing balance 33 /0 Straight line The cost of land included in the balance sheet but not depreciated is £19,200. Foreign exchange Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing al that date. Fund structure Unrestricted income funds are general fLJnds that are available for use at the Trustees discretion in furtherance of the objectives of the Charity. Leasing commitments Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term. Penslons and other post retlrement obllgatlons The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Financial instruments Classification The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrLJments are initially recognised at transaction value and subsequently measLJred al their settlement value. Page 17
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 3 Income from charitable activities Unrestrlcted Total 2024 Total 2023 General Adminislralion service income 455,881 455,881 475,906 Funds received as agent 2024 2023 Amounts held al start of period Amounts received 10,471,210 9,516,546 57,932,591 52,147,126 154,241,047} 151,192,462) Amounts paid OLJt to charities Amounts held al end of period 14,162,754 10,471,210 4 Investment income Unrestricted funds General Total 2024 Total 2023 Other income from fixed asset investments 169,582 169,582 21,215 Bank interest includes interest eamed on monies held for clients, awaiting distribution lo their chosen charities. These client balances are not the property of Charitable Giving and are therefore not included as assets in the balance sheet. 5 Expenditure on charitable activities Unrestricted funds General Total 2024 Total 2023 Wages and salaries Systems development and support Depreciation and amortisalion Marketing Governance costs Other costs 362,030 23,454 41,089 1,718 22,301 66,548 362,030 23,454 41,089 1,718 22,301 66,548 335,268 25,667 21,322 2,225 17,157 54,865 517,140 517,140 456,504 Page 18
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 6 Trustees remuneration and expenses No Trustees, nor any persons connected with them, have received any remuneration from the Charity during the year. No trustees have received any other benefits from the charity during the year. 7 Staff costs The aggogate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 322,519 21,920 17,591 298,338 22,149 14,781 362,030 335,268 The monthly average number of persons {including senior management team) employed by the Charity during the year was as follows: 2024 2023 Employees 12 12 The number of employees whose emoluments fell within the following bands was.. 2024 No 2023 No £60,001 - £70,000 The total employee benefits of the key management personnel of the Charity were £119,937 12023 £115,290). 8 Audltors. remuneratlon 2024 2023 Audit of the financial statements 10,500 9,840 Page 19
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 9 Taxation The Charity is a registered charity and is therefore exempt from taxation. 10 Intangible fixed assets other intangible asset Website and bespoke software Total Cost Al 1 May 2023 Additions 50,000 238,504 3,884 288,504 3,884 AI 30 April 2024 50,000 242,388 292,388 Amortlsatlon Al 1 May 2023 Charge for the year AI 30 April 2024 46,687 3,313 176,438 7,697 223,125 11,010 50,000 184,135 234,135 Net book value AI 30 April 2024 58,253 58,253 AI 30 April 2023 3,313 62,066 65,379 Other intangible asset Other intangible assets are represented by the rights to payroll giving contracts acquired from the Federation of Master Builders {South Wesl Region) Charitable Fund. Development costs Development costs have been capilalised in accordance with FRS 102 Section 18 Intangible Assets other than Goodwill and are therefore not treated as a deficit to the Charity. Page 20
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 11 Tangible fixed assets Land and Furniture and buildings equipment Total Cost Al 1 May 2023 Additions Disposals 297,971 4,080 138,366 68,299 156,4811 436,337 72,379 156,4811 AI 30 April 2024 302,051 150.184 452,235 Dgpreciation Al 1 May 2023 Charge for the year Eliminated on disposals 102,487 5,658 110.058 24,421 56,481 212,545 30,079 56,481 AI 30 April 2024 108,145 77,998 186,143 Net book value AI 30 April 2024 193,906 72,186 266,092 AI 30 April 2023 195,484 28,308 223,792 12 Debtors 2024 2023 Tfftde debtors Prepayments Accrued income Other debtors 37,732 16,548 77,990 1,281 34,930 12,494 13,479 133,551 60,903 13 Creditors- amounts falling due within one year 2024 2023 Bank loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income 9,673 6,920 7,225 9,327 8,473 5,959 1,256 30,407 39,925 63,743 55,422 Page 21
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 Bank borrowings The bank loan is denominated in sterling with a nominal interest rale of 3.15°/o over the variable base rate, and the final instalmenl is due on 23 March 2032. The carrying amount at year end is £89,197 12023- £96,850). Security is given via a 1 st Legal Charge on the freehold land and buildings to which the loan relates. 14 Creditors: amounts falling due after one year 2024 2023 Bank loans 79,524 87,523 Included in the creditors are the following amounts due after more than five years.. 2024 2023 After more than five years by instalments 35,072 46,263 15 Penslon and other schemes Defined contribution pension scheme The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity lo the scheme and amounted lo £17,591 12023 £14,781). 16 Commitments Annual charges for operating leases which expire.. 2024 2023 Not later than one year Later than one year and not later than five years 8,491 12,758 21,249 5,234 1.080 6.314 Page 22
Docusign EnvelopÈ ID". EE914515-9187421441CE-1C41B3657383 Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2024 17 Funds Balance at 1 May 2023 Incoming resources Resources Balance at 30 expended April 2024 Unrestricted funds Unrestricted general funds 563,760 625,463 517,067 672,156 Balance at 1 May 2022 Incomlng resources Resources Balance at 30 expended April 2023 Unrestrlcted funds Unrestricted general funds 523,053 497,121 456,414 563,760 18 Related party transactions There were no related party transactions in the year. Page 23