TRUSTEES REPORT & ACCOUNTS
WELCOME
This report encompasses the period from April 2023 to March 2024. While we believed that the previous year, 2022/23, was challenging due to the cost-of-living crisis following the COVID-19 pandemic, the subsequent year has presented even greater difficulties for both the individuals and families we serve, as well as for our organization as a charity. The continually rising costs have led to an increased demand for our services, with many families and individuals seeking assistance for the first time in their adult lives. Moreover, the growing number of people in need, coupled with our own escalating expenses, has strained our financial and staffing resources.
Throughout the past year, our efforts have remained focused on our three core objectives: alleviating and preventing poverty, addressing and preventing homelessness, and promoting environmental sustainability through re-use initiatives.
Alleviating and Preventing Poverty
Over the past year, we have successfully provided free furniture to 440 households, reflecting a substantial increase of 30% compared to the previous year. Additionally, we distributed over 3,000 food parcels to families and individuals in need. A significant advancement in our efforts has been the implementation of one-on-one support through the Connect Centre, which we operate in partnership with Community Money Advice. This initiative has resulted in an increase in the number of individuals accessing our financial advice services, and our volunteers have played a crucial role in assisting with various Debt Relief Orders, enabling clients to regain control over their finances.
Moreover, our team has supported numerous individuals in budgeting by serving as accountability partners. Our community builders, who are part of the Worcestershire County Council’s Asset-Based Community Development pilot, dedicate much of their time to engaging with residents and empowering them to recognize their potential for effecting change in their circumstances. When specific skills are required, the community builders actively seek out individuals willing to share their expertise, fostering collaboration among community members. By emphasizing strengths rather than deficiencies, the community builders have been instrumental in initiating new groups, uniting people, and challenging all of us to enhance our engagement and support for the community.
Alleviating and Preventing Homelessness
Our initiative has successfully assisted 114 households in transitioning from homelessness or temporary accommodation to stable housing. Providing furniture enables individuals and families to secure tenancies without incurring debt, which is crucial for fostering sustainable living. Our services create a pathway to tenancy that is often lacking in various regions across the country. Additionally, our financial mentors have intervened in numerous instances where individuals faced eviction threats. Not only have we halted these evictions, but we have also worked collaboratively with clients to optimize their income levels and effectively manage debts and other expenses.
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Protecting the Planet
Our third priority over the past year has been to establish our identity as an environmental project within the community. While we have made some progress, there remains significant work to be done in emphasizing this critical aspect of our mission and normalizing the practice of reusing items.
In the past year, we have successfully diverted 140 tonnes of furniture from landfills and, more importantly, have encouraged individuals and families to embrace the reuse of items. Additionally, we have provided school uniforms to over 500 children, ranging from coats and blazers to PE kits. Our latest initiative, the community supermarket, has successfully salvaged at least nine tonnes of food from being discarded.
Preparing for the Future
We have initiated a comprehensive review of our systems, with the first stage focused on documenting our procedures. This ensures that our methodologies are not solely reliant on individual knowledge but are clearly articulated for the understanding of all staff and volunteers. This effort has been supported by an audit conducted by the Reuse Network, which is part of our accreditation as an Authorized ReUse Centre (ARC). The next phase of this endeavor will involve evaluating our processes to ensure they are aligned with future needs.
Investing in Our Team
As a Real Living Wage employer, we implemented a 10.1% pay increase for all staff receiving the RLW. However, we recognized that other members of our paid team were also facing significant challenges. Consequently, the Board of Trustees approved a 10% increase for all remaining staff, acknowledging that this adjustment is likely to be a one-time measure of this magnitude.
We offer a diverse range of training courses and actively encourage individuals to request any additional training they believe would be beneficial. We are immensely grateful for the dedication of our volunteers over the past year, who have contributed their time and energy to our project, enabling us to meet the demands of our growing workload.
~~a~~ Marion Kenyon Marion Kenyon (Dec 18, 2024 14:46 GMT)
Sarah Reece-Mills Marion Kenyon Chair of Trustees Chief Executive
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STRATEGIC REPORT
How we made a difference in 2023/24
Preventing and alleviating homelessness and poverty
Our first objective in this period was to focus on our core work – to prevent and alleviate poverty and homelessness through the provision of free and affordable household items, including food.
In another incredibly difficult year, many households found themselves struggling to afford household essentials. There was an increase in the number of section 21 evictions and subsequent rehousing.
NewStarts played a key role in ensuring individuals and families were able to access furniture and food, either free or at affordable prices.
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19,915
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individuals and families we have supported through our wide range of services, 4% more than the previous year
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3,539
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people we have provided direct support to 22% more than the previous year,
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4000
3000
2000
1000
0
17/18 18/19 19/20 20/21 21/22 22/23 23/24
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Better outcomes for more families and individuals
Our Objectives Are
To prevent and alleviate homelessness through the provision of free and affordable furniture
To prevent and alleviate poverty through work placements, advice and training
To encourage and normalise the reuse of household items.
We will be led by
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Data
Our
People
Compassion Learning
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19,915
individuals, families & children were supported through one of our projects during 2023/24
We supported:
440 households provided with free furniture
8,566 individuals and families with affordable furniture
over 3,000 families & individuals with emergency food
1,051 individuals and families with affordable food
We saved:
140 tonnes rescued through free and affordable furniture
4 tonnes of surplus food 500 pieces of school uniform
2 showrooms
12 colleagues
73 volunteers
5 vans
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Understanding our impact
NewStarts is dedicated to measuring, analyzing, and articulating the impact we have on the communities, families, and individuals we serve. We recognize that our services significantly and transformatively affect the lives of those who receive them. As a local charity, we strive to keep our communities informed about our ongoing efforts and new initiatives.
Given the diverse range of services we offer, consolidating them into a singular impact measurement can be challenging. Nonetheless, we do provide assessments of our impact in several key areas, including homelessness, poverty, and environmental sustainability.
Based on information gathered during the 2023/24 year we were able to divert 140 tonnes of household items from landfill, which enabled 440 households to receive free furniture, reducing the levels of social isolation, stress, anxiety and fear for those households. Of those we were able to provide furniture for, 83% were fulfilled within one month of the request being made. We were able to provide over 3,000 food parcels, preventing many individuals and families from going hungry. We have also had the great support of over 70 volunteers and have also been able to support them during and sometimes after their period of volunteering with us.
We know that we are making a difference for many families and individuals in the north Worcestershire and south Birmingham areas and sometimes further afield and we are improving our data collection to ensure that the data we have makes it easier for us to show the difference that we are making.
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Responding to the cost of living
Over the past year NewStarts has responded to the Cost-of-Living Crisis in four key ways:
Foodbank
Over the past year NewStarts had provided over 3,000 food parcels (157,000 Meals)to local individuals and families. These food parcels have been for seven days and included fresh fruit and vegetables, butter, cheese, eggs as well as tinned and packaged items.
Community Supermarket
While the community supermarket was established as a response to food waste, it has also provided individuals and families with the opportunity to access fresh fruits and vegetables on a pay-as-you-feel basis. This initiative has significantly benefited many people who are currently grappling with the challenges of rising costs.
NewStarts Connect Centre
The NewStarts Money Mentors operating from our Connect Centre have successfully assisted numerous individuals facing challenging financial situations. Their efforts have included preventing evictions and ensuring that clients receive all eligible benefits through effective signposting. For many who utilize this service, financial worries significantly impact their mental health. Clients frequently express that simply having the opportunity to speak with someone instills a greater sense of confidence about their future.
Community Hub
The community hub in New Frankley has offered a welcoming space for individuals of all ages during the winter months, allowing both young and old to enjoy a comfortable environment without the burden of heating costs.
happened in his life. He was
I picked up my food parcel today and was totally choked with what I was given and how much you all care. Hopefully one day I can pay you back
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Supporting people into new tenancies or maintaining tenancies
The core of our work is to provide complimentary furniture to individuals and families who are either moving into new premises or require assistance in their current homes.
Over the past year, we have successfully furnished 440 households at a total expenditure of £278,000 .
This included:
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117 households who were previously homeless or in temporary accommodation
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68 households where someone had a disability (this includes those with mental health illnesses)
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58 households where someone was experience or had previously experienced domestic abuse.
The expenditure includes salaries for our administrative staff, logistics managers, and drivers, in addition to the costs associated with maintaining our vans, fuel expenses, and the collection, storage, and delivery of household items as well as the cost of the furniture provided.
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Providing work placements and volunteering opportunities
The work that we undertake would not be posssible without our wonderful team of volunteers. Over the past year our 70 volunteers have contributed 11,964 hours to our work. These hours have a value of £161,514 , but are invaluable to us in providing our services. Volunteers fulfil a wide range of roles including driving, warehousing, administration, cooking, cleaning, foodbank, uniform bank, money mentors, computer technicians as well as other duties.
Many of our volunteers have been unemployed for some time and find they struggle with selfesteem and confidence issues. We are able to provide inhouse training for all volunteers to undertake their roles as well as more formal training if it is required. It is wonderful to see individuals growing and developing their skills during their time with us, and over the last year
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Generating Income
Affordable Household Items
One of the primary methods by which we generate revenue is through the sale of affordable household items, ranging from cutlery and computers to sofas and sandwich makers. A diverse array of products is available in our showrooms located in Bromsgrove and New Frankley, with plans to expand to Redditch shortly.
Income across our showroom estates experienced a growth of 14%, increasing from £186,461 in the 22/23 fiscal year to £212,304 in 23/24. We have received a very positive response to our new initiative, the vintage area at our Bromsgrove location, and we aim to replicate this concept across our other sites. Additionally, we are capitalizing on the growing trend of thrift shopping. To further this effort, we have engaged with the Charity Gift Card initiative, which we hope to promote more actively in the coming year to encourage greater reuse.
While we anticipated a decline in donations due to the cost-of-living crisis, this trend has not yet materialized. We remain optimistic that the influx of donated items will continue to be robust over the next year.
Sales of our affordable household items and computers contribute approximately a third of our overall income.
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Fundraising
Our fundraising over the past year including grants and donations raised £372,776.
In a time when things are challenging for many we are grateful for the support we have continued to have from a wide range of supporters. Without this help from individuals, companies, public sector and grant-giving bodies we would not have been able to achieve all that we have and helped individuals and families from our local communities.
To all those who have supported us - THANK YOU - from everyone at NewStarts. Every gift, every piece of furniture, every tin of food, every grant, means that one less household is ‘making do’, one less household is going hungry. Lives are being transformed.
Increasing Public Support
This year, we have dedicated significant effort to enhancing our presence on social media by actively engaging with our audience and responding to comments. Additionally, we have focused on educating the public about the diverse range of work we undertake. As a result, we have successfully engaged with a broader audience, leading to increases in both our social media following and overall reach throughout the year.
Support from Individuals
We received £8,682 in donations from individuals, along with £4,068 from various organizations, including local churches. The encouragement we receive from diverse groups is invaluable. During the COVID-19 pandemic, the local rugby club initiated a "new toy" drive, which has continued to ensure that over 500 children received presents last Christmas. Local Cubs and Scouts groups organize food drives that significantly contribute to maintaining our food bank's inventory, while many local schools and churches generously donate their harvest collections to support our efforts.
The issues of poverty, debt, and homelessness are of great concern to many. Our community recognizes that our initiatives help alleviate these challenges. However, we are eager to collaborate with local communities to proactively prevent these issues, an area we aim to expand upon in the coming year.
Additionally, we are developing our narrative around climate justice, as we recognize that this is also a pressing issue for many individuals. Much of our work contributes to the protection of the planet, aligning with the values of those who are passionate about environmental sustainability.
Improving our supporter experience
We know that the supporter experience is important and we are therefore working on how to improve the experience our supporters have, including modernising our systems.
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Support from trusts, foundations and individuals
We sincerely appreciate the support from foundations, trusts, and individuals, as it is vital for the continuation of our work.
T he Greggs Foundation generously provided a grant of £20,000, which has facilitated our ongoing efforts in South Birmingham. This funding has enabled us to offer free furniture, emergency food assistance, and maintain a community hub that provides a warm space and refreshments throughout the winter months.
Additionally, the National Lottery has continued its three-year funding with a further contribution of £60,000 towards our core operational costs, allowing us to sustain our services across both sites. We were also fortunate to receive a grant of £67,040 from them, which significantly enhanced our capacity to distribute emergency food to those in need during the winter months through their Cost-of-Living grant .
Furthermore, we are grateful to Nationwide Building Society for their funding of £59,500, which supports our initiatives in Bromsgrove. This funding not only aids our furniture and food banks but also contributes to our uniform bank and financial advice services.
In addition a number of other trusts and foundations awarded us grants that have enabled the work across both our sites.
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Ensuring voices of those living in poverty are heard
Over the past year, we have collaborated with various organizations in the Bromsgrove area to establish a Poverty Truth Commission. This commission is dedicated to engaging with individuals experiencing poverty, actively listening to their perspectives, and working alongside commissioners to identify strategies that will reduce, if not eradicate, poverty and its impact on the lives of individuals and families. We firmly believe that transforming this vision into reality is achievable within the Bromsgrove area.
Normalising the use of pre-loved items and preventing waste
This year, we have dedicated significant effort to promoting the normalisation of preloved items, including household goods and uniforms. This initiative is vital for environmental sustainability, as it helps reduce the influx of usable items into landfills. It is estimated that at least 20% of household items are reusable, and it is our responsibility to ensure that all reusable items are reused effectively.
Moreover, we are committed to combating food waste that ends up in landfills. Globally, it is reported that 40% of all food produced never reaches consumers. To address this critical issue, we are proud to collaborate with WasteKnot and Neighbourly to mitigate food waste at the local level.
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Financial Review
How our finances look
As we conclude the 2023/24 fiscal year, we find ourselves facing a deficit, which is disheartening given the considerable efforts invested in both retail operations and fundraising initiatives. Nonetheless, it is important to note that we maintain a robust reserves position.
Results for 2023/24
In 2023/24 NewStarts made a deficit of £34,357 , compared to a surplus of £47,072 for 22/23.
Our total income for the year was £639,632 for the year, compared with £554,269 in 23, 15% increase year on year across all our activites.
Our retail teams achieved a remarkable performance this year, generating an income of £264,799 , an increase from £242,507 in the previous year. This positive trend has prompted us to contemplate the possibility of expanding our locations in the upcoming year.
The income generated from donations and legacies amounted to £372,776 , reflecting an increase of £61,014 compared to the previous year's total of £311,762. While this represents a positive development, it is imperative that we work to engage a greater number of financial supporters to alleviate the pressure on grant fundraising efforts.
Total expenditure increased by £166,792 to £673,989 from £507,197 in 22/23, with the most significant increases being in our support for frontline services including cost of living support via the foodbank; colleague pay increase; energy and fuel costs; and increase in mortgage costs. This was on year increase of 33% mainly due to the conscious decision to maintain an ongoing support attitude with regard to the foodbank and to provide an across board 10% increase of salary for colleagues.
Total Income
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Grants Donation
Income from showrooms
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Total Expenditure
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Trading Charitable activities
Fundraising Other costs
Fundraising
3.8%
Charitable activities
92.9%
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Our most significant area of expenditure is staff costs of £294,198 , which increased by £41,139 from 22/23, the increase being largely due to a 10% pay award from 1 April 2023 .
IAt the end of March 2024 the unrestricted reserves of the charity were £151,734 (2023: £37,657)
Our position at end of year
Our reserves are represented by the fund balances in the balance sheet on page ??
The level of our reserves is determined by balancing two objectives: 1) maintaining sufficient reserves to enable us to continue our work when faced with difficult financial circumstances; and 2) making sure we maximise the resources used for charitable purposes. This means our reserves level needs to be adequate to allow us to address potential deficits that may arise from our charitable activities, trading and other activities. It also needs to give us sufficient time to adjust our approach to meet changing circumstances without unnecessarily removing funds from addressing our charitable purposes. The Covid-19 crisis, recent geo-political events and the resulting inflationary pressures are perfect examples of the need for us to maintain a healthy reserves balance as we were able to maintain stable operations, whilst continuing to protect front-line services.
The balance sheet shows a net asset position of £178,432 compared with £210,281. It also shows total unrestricted reserves (reserves that have no restrictions on how they are used) of £167,332 (2023: £37,657).
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Going Concern Statement
We ended 2023-24 in a less strong financial position than we would have liked and our free reserves do not quite achieve our target of having three months unrestricted funds, however we still have sufficient funds. We will continue to closely monitor the impact of the change of Government, Government decision-making on its funding to the sector and specifically the services we provide, along with assessing the state of the economy, and we will take action as needed. Given the strength of our balance sheet (see page ??) – and the availability and liquidity of the charity’s free cash reserves and unrestricted investments – the Trustees have not identified any material uncertainty that would cast doubt on the charity’s ability to continue. The Trustees therefore consider it appropriate for the accounts to be prepared on a going concern basis.
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Principal Risks and Uncertainties
The Board of Trustees has responsibility for ensuring that there are adequate and effective risk management protocols and systems of internal controls in place to manage NewStarts major risks and support the achievement of our strategic objectives. This responsibility is discharged by reviewing the strategic risks at each meeting. NewStarts risk management framework is designed to support informed decision-making regarding the risks which may affect the achievement of its objectives. It also provides a consistent approach to identifying, assessing, and dealing with the risks which NewStarts faces to ensure that they do not exceed the level of risk NewStarts is willing to accept. The
framework is designed to manage, rather than to eliminate, the risks to objectives and to provide reasonable, but not absolute, assurance against material misstatement or loss. Processes are in place to manage the key risks that could affect NewStarts ability to achieve its objectives, including the following:
• A risk escalation protocol, to identify risks at department and
regional level and ensure that, where applicable, these are included in the ‘Corporate Risk Register’, which is subject to regular Corporate Leadership Team and Trustee review.
- Regular ‘horizon scanning’ exercises by the charity’s senior management team, identifying risks and emerging trends to ensure we are equipped to adapt.
• A framework of delegated authority, with detailed procedures setting out the governance and decision making process for key corporate decisions.
• A whistleblowing policy, which is communicated to and accessible by all NewStarts colleagues including volunteers. All whistleblowing cases are subject to independent review, and investigation by the independent Audit & Assurance team.
Plans for future periods
In the 2024-2025 financial year we will continue to focus our resources on:
a. Supporting the individuals and families who need us most – especially in the context of the cost-of-living crisis. This includes continuing to provide direct support with essentials like household items, food and uniform. Alongside this, we are continuing to work with partners to speak out around the issues of social and climate justice.
b. Investing in our colleagues, improving how we engage with and listen to the ideas of both staff and volunteers
c. Updating core technology infrastructure, so we can operate more efficiently and effectively, and focus more resource on our core work.
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Our Structure, Governance and Management
NewStarts is a company limited by guarantee (registered in England, company number 6809593). It operates throughout Worcestershire, Warwickshire and the City of Birmingham and is a charity registered in England and Wales (Charity Commission registration number 1128541). It is governed by its Articles of Association, last revised in 2009. The Articles of Association set out the charitable purposes for public benefit in the following terms:
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a.To alleviate poverty through providing practical help to families and vulnerable people and access to free and discounted household items
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b.To assist in the settlement of homeless and other vulnerable people who are in need, hardship or distress through offering support and advice, and opportunities for learning and work experience
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c.To relieve poverty and protect and preserve the environment for the public benefit by promoting and enabling the reuse of unwanted household goods.
The Board of Trustees met four times for scheduled meetings in 2023-24.
The day-to-day management and operation of the Charity is delegated to the Chief Executive (M Kenyon) and relevant staff who are accountable to the Trustees
Trustees are expected to take a close interest in the operations and outcomes of the charity, and to meet regularly to review the business of the charity. The main responsibilities of the Board of Trustees are:
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To ensure the charity is carrying out its purpose for the public benefit
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To comply with the Charity’s governing document and the law
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To act in the Charity’s best interest To manage the Charity’s resources responsibly
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To act with reasonable care and skill To ensure accountability within the charity, as well as when responsibility is delegated to staff or volunteers. To comply with the statutory accounting and reporting requirements
the Board off Trustees may at any time appoint people who are willing to act as Trustees. The appointment of Trustees is undertaken on a one-to-one basis, with some in-house and some external training.
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Reference and Administrative Details
Registered Company No: 9809596
Registered Charity No:
1128541
Registered Office
1 Sherwood Road Bromsgrove B60 3DR
Trustees
Sarah Reece-Mills Ian Jones Peter Tack (joined 2nd May 2024) Terese Down (resigned 22nd July 2024)
Richard Hand Sarah Burt Matt (resigned 19th October 2023)
Key Personnel
Marion Kenyon (Chief Executive)
Independent Examiner
It Doesn’t Have To Cost The Earth 47 St Dunstans Close Worcester WR5 2AJ
Solicitors
Star Legal 70 The Strand Bromsgrove B61 8DQ
Accountants
Beyond Profit G104 Bolton Arena, Arena Approach Horwich BL6 6LB
Bank
Barclays Bank 1-3 Haymarket Towers Leicester LE1 1WA
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies
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Statement of Trustees, Responsibilities
Statement of Trustees’ Reponsibilities
The Trustees are responsible for preparing the Annual Report, which incorporates the Strategic Report, and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 state of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group and charity for that period. In preparing these financial statements, the Trustees are required to: • select suitable accounting policies and then apply them consistently; • make judgements and estimates that are reasonable and prudent; • state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the f inancial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Financial statements are published on the charity’s website, in accordance with United Kingdom legislation that governs the preparation and dissemination of financial statements. This may vary from legislation in other jurisdictions. Trustees are responsible for the maintenance and integrity of the Group’s website. They are also responsible for the ongoing integrity of the published financial statements.
The Trustees confirm that, so far as they are aware, there is no relevant audit information of which the charity’s auditor is unaware. They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charity’s auditor is aware of that information
~~_ fa~~ Peter Tack (Dec 19, 2024 11:02 GMT)
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Independent Examiners Report
Independent Examiner’s Report to the Trustees of NewStarts Charitable Company
I report to the trustees on my examination of the accounts of NewStarts (“the Company”) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Signed:
Teresa Fennell
Teresa Fennell, ACMA CGMA
It Doesn't Have to Cost the Earth Ltd, 47 St Dunstan’s Close, Worcester, WR5 2AJ
Date: 19/12/24
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Financial Statements
NEWSTARTS
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2024
| Unrestricted Note 2024 £ INCOME FROM: Donations and legacies 2 29,250 Charitable activities 3 264,799 Other income 2,057 TOTAL INCOME 296,106 EXPENDITURE ON: Raising funds 4 711 Charitable activities 5 290,966 TOTAL EXPENDITURE 291,677 NET (EXPENDITURE)/INCOME 4,429 Transfer between funds 109,648 NET MOVEMENT IN FUNDS 114,077 Fund balances brought forward 37,657 TOTAL FUNDS CARRIED FORWARD 151,734 |
Unrestricted Note 2024 £ INCOME FROM: Donations and legacies 2 29,250 Charitable activities 3 264,799 Other income 2,057 TOTAL INCOME 296,106 EXPENDITURE ON: Raising funds 4 711 Charitable activities 5 290,966 TOTAL EXPENDITURE 291,677 NET (EXPENDITURE)/INCOME 4,429 Transfer between funds 109,648 NET MOVEMENT IN FUNDS 114,077 Fund balances brought forward 37,657 TOTAL FUNDS CARRIED FORWARD 151,734 |
Restricted 2024 £ 343,526 - - |
TOTAL 2024 £ 372,776 264,799 2,057 |
Unrestricted 2023 £ 25,469 241,012 1,495 |
Restricted 2023 £ 286,293 - - |
TOTAL 2023 £ 311,762 241,012 1,495 |
|---|---|---|---|---|---|---|
| 296,106 | 343,526 | 639,632 | 267,976 | 286,293 | 554,269 | |
| 711 290,966 |
8,349 373,963 |
9,060 664,929 |
1,670 294,478 |
18,782 192,267 |
20,452 486,745 |
|
| 291,677 | 382,312 | 673,989 | 296,148 | 211,049 | 507,197 | |
| 4,429 109,648 |
(38,786) (109,648) |
(34,357) - |
(28,172) (51) |
75,244 51 |
47,072 - |
|
| 114,077 37,657 |
(148,434) 215,418 |
(34,357) 253,075 |
(28,223) 65,880 |
75,295 140,123 |
47,072 206,003 |
|
| 151,734 | 66,984 | 218,718 | 37,657 | 215,418 | 253,075 |
The statement of financial activities includes all gains and losses recognised during the year
All income and expenditure derive from continuing activities.
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NEWSTARTS
Company number: 06809593
BALANCE SHEET
| BALANCE SHEET | |||||||
|---|---|---|---|---|---|---|---|
| at 31 March 2024 | |||||||
| Notes | 2024 | 2023 | |||||
| £ | £ | £ | £ | ||||
| FIXED ASSETS | |||||||
| Tangible assets | 10 | 352,780 | 365,778 | ||||
| CURRENT ASSETS | |||||||
| Stock | 2,597 | 2,597 | |||||
| Debtors | 11 | 20,442 | 17,204 | ||||
| Cash at bank and in hand | 180,731 | 220,059 | |||||
| 203,770 | 239,860 | ||||||
| CREDITORS :amounts falling due | |||||||
| within one year | 12 | (25,338) | (29,579) | ||||
| NET CURRENT ASSETS | 178,432 | 210,281 | |||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 531,212 | 576,059 | |||||
| CREDITORS :amounts falling | |||||||
| due after one year | 13 | (312,494) | (322,984) | ||||
| 218,718 | 253,075 | ||||||
| FUNDS | |||||||
| Unrestricted | 151,734 | 37,657 | |||||
| Restricted | 18 | 66,984 | 215,418 | ||||
| TOTAL FUNDS | 218,718 | 253,075 |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to independent examination under the Charities Act 2011.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with SORP FRS102.
The financial statements were approved and authorised for issue by the Board on 18/12/24 and signed on its behalf by:
Peter Tack (Dec 19, 2024 11:02 GMT) Sarah Reece-Mills Peter Tack Trustee Trustee
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STATEMENT OF CASHLOWS
| STATEMENT OF CASHLOWS | ||
|---|---|---|
| as at 31 March 2024 Notes CASH INFLOW FROM OPERATING ACTIVITIES 16 CASH OUTFLOW FROM INVESTING ACTIVITIES Payment to acquire tangible fixed assets CASH OUTFLOWS FROM FINANCING ACTIVITIES Bank loan repayment Bank interest paid NET CASH OUTFLOW FROM INVESTING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE START OF PERIOD CASH AND CASH EQUIVALENTS AT THE END OF PERIOD CASH AND CASH EQUIVALENTS CONSISTS OF: Cash at bank and in hand |
2024 £ (912) - (9,659) (28,757) (38,416) (39,328) 220,059 180,731 180,731 |
2023 £ 72,965 |
| (22,794) (11,054) (21,896) |
||
| (55,744) | ||
| 17,221 202,838 |
||
| 220,059 | ||
| 220,059 |
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NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of Preparing Financial Statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019 (SORP FRS102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice that is SORP FRS102.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each significant restricted fund is set out in the notes to the financial statements.
Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific polices apply:
(a) Voluntary income by way of donations and grants is included in full in the Statement of Financial Activities when it is receivable.
(b) Items donated and sold through the charity's shop are included as incoming resources within activities for generating funds when they are sold.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
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1. ACCOUNTING POLICIES (continued)
Expenditure recognition
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 costs related to the category. Where costs cannot
Governance Costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the SORP FRS102 or FRS 102.
Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Freehold land is not depreciated Freehold buildings 2% on cost Improvement to property 20% on cost Plant & Machinery 33% on cost Motor Vehicles 33% on cost Computer Equipment 33% on cost
The minimum thresholds for capitalisation are: Land, Buildings and Improvements - £5,000 Plant and Machinery, Motor Vehicles and Computer Equipment - £1,000
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1. ACCOUNTING POLICIES (continued)
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the SOFA unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Pension costs and other post retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Tax
The charity is exempt from corporation tax on its charitable activities. It is also relieved from VAT registration on its sale of goods, as all such sales are based on goods freely donated.
Debtors and Creditors
Debtors are measured at the undiscounted amount of cash receivable. Creditors are measured at the undiscounted amount of cash payable.
Critical accounting estimates and judgements
In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical evidence and experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Basic Financial instruments
The charitable Company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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2. DONATIONS AND LEGACIES
| Unrestricted Restricted 2024 2024 £ £ Donations 19,670 210 Grants 9,580 343,316 29,250 343,526 Analysis of Government grants included above: Awards for All Lottery - - Birmingham City Council - 6,200 Bromsgrove District Council - 89,513 National Lottery - 60,000 Redditch Borough Council - 10,000 - 165,713 |
Unrestricted Restricted 2024 2024 £ £ Donations 19,670 210 Grants 9,580 343,316 29,250 343,526 Analysis of Government grants included above: Awards for All Lottery - - Birmingham City Council - 6,200 Bromsgrove District Council - 89,513 National Lottery - 60,000 Redditch Borough Council - 10,000 - 165,713 |
Restricted 2024 £ 210 343,316 |
TOTAL 2024 £ 19,880 352,896 |
Unrestricted 2023 £ 25,268 201 |
Restricted 2023 £ 9,000 277,293 |
TOTAL 2023 £ 34,268 277,494 |
|---|---|---|---|---|---|---|
| 29,250 | 343,526 | 372,776 | 25,469 | 286,293 | 311,762 | |
| - 6,200 89,513 60,000 10,000 |
- - - - - |
10,000 - 99,594 30,000 - |
10,000 - 99,594 30,000 - |
|||
| - - - - - |
- 6,200 89,513 60,000 10,000 |
|||||
| - | 165,713 | 165,713 | - | 139,594 | 139,594 |
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3. CHARITABLE ACTIVITIES
| Unrestricted 2024 £ Display room income 204,816 Landfill re-use credits 6,164 IT income 8,488 Collection & delivery donations 10,291 Service level agreements 32,500 Food 2,540 264,799 |
Unrestricted 2024 £ Display room income 204,816 Landfill re-use credits 6,164 IT income 8,488 Collection & delivery donations 10,291 Service level agreements 32,500 Food 2,540 264,799 |
Restricted 2024 £ - - - - - - |
TOTAL 2024 £ 204,816 6,164 8,488 10,291 32,500 2,540 |
Unrestricted 2023 £ 186,641 6,756 17,350 10,265 20,000 - |
Restricted 2023 £ - - - - - - |
TOTAL 2023 £ 186,641 6,756 17,350 10,265 20,000 - |
|---|---|---|---|---|---|---|
| 264,799 | - | 264,799 | 241,012 | - | 241,012 |
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4. RAISING FUNDS
| Unrestricted | Restricted | TOTAL | Unrestricted | Restricted | TOTAL | ||
|---|---|---|---|---|---|---|---|
| Basis of | 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
| Allocation | £ | £ | £ | £ | £ | £ | |
| Staff Costs | Time based | 620 | 7,285 | 7,905 | 1,501 | 16,868 | 18,369 |
| Overheads | Usage | 91 | 1,064 | 1,155 | 169 | 1,914 | 2,083 |
| Support costs | 711 | 8,349 | 9,060 | 1,670 | 18,782 | 20,452 |
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5. CHARITABLE ACTIVITIES
| Note Staff costs 9 Time based Premises Usage Office costs Usage Repairs and maintenance Direct Provision of welfare Direct Motor and travel Direct Professional & Insurance Usage Advertising Direct Waste disposal Direct Other costs Direct Bank interest Usage Depreciation 6 Usage Governance costs 7 Direct TOTAL EXPENDITURE Unrestricted funds Restricted funds Basis of Allocation |
Total 2024 £ 286,293 37,319 12,258 30,983 179,076 27,024 36,221 5,211 5,353 3,006 28,757 12,779 664,280 650 664,930 290,966 373,963 664,929 |
Total 2023 £ 253,059 34,788 11,560 14,581 89,265 24,818 15,677 6,132 4,659 2,343 21,896 7,407 |
|---|---|---|
| 486,145 600 |
||
| 486,745 | ||
| 294,478 192,267 |
||
| 486,745 |
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6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging
| Depreciation - owned assets Included within: Raising Funds Note 4 Charitable Activities Note 5 |
2024 £ 12,998 219 12,779 12,998 |
2023 £ 7,716 |
|---|---|---|
| 309 7,407 |
||
| 7,716 |
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7. FEES FOR EXAMINATION OF THE ACCOUNTS
Independent examination for the year was £650 (2023: £600).
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8. TRUSTEES' REMUNERATION AND EXPENSES
The trustees neither received nor waived any remuneration during the year (2023: £Nil).
The trustees did not have any personal expenses reimbursed during the year (2023: £Nil)
The trustees have indemnity cover.
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9. STAFF COSTS AND KEY MANAGEMENT PERSONNEL
| Notes Wages and salaries Social security costs Pension costs Included within: Raising Funds Note 4 Charitable Activities Note 5 The average number of employees during the year was as follows: Chief Executive Staff managers Operational and administrative staff |
2024 £ 270,543 15,726 7,929 294,198 7,905 286,293 294,198 2024 Number 1 4 9 14 |
2023 £ 251,717 12,746 6,965 |
|---|---|---|
| 271,428 | ||
| 18,369 253,059 |
||
| 271,428 | ||
| 2023 Number 1 5 10 |
||
| 16 |
No employee received total employee benefits (excluding employer pension costs) of more than £60,000.
The charity operates a defined contribution plan for the benefit of its employees.
During the year the total paid to key management was £49,098 (2023: £58,581)
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10. TANGIBLE FIXED ASSETS
| Cost : At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation : At 1 April 2023 Charge for the year Disposals At 31 March 2024 NBV at 31 March 2024 NBV at 31 March 2023 |
Freehold Property £ 387,127 |
Improvements to Property £ 13,620 |
Plant & Machinery £ 15,203 |
Motor Vehicles £ 61,719 |
Computer Equipment £ 4,203 |
Total £ 481,872 - - |
|---|---|---|---|---|---|---|
| - - |
- - |
- - |
- - |
- - |
||
| 387,127 | 13,620 | 15,203 | 61,719 | 4,203 | 481,872 | |
| 42,262 | 13,620 | 15,203 | 40,806 | 4,203 | 116,094 12,998 - |
|
| 5,476 - |
- - |
- - |
7,522 - |
- - |
||
| 47,738 | 13,620 | 15,203 | 48,328 | 4,203 | 129,092 | |
| 339,389 | - | - | 13,391 | - | 352,780 | |
| 344,865 | - | - | 20,913 | - | 365,778 |
Net book value at 31 March 2024 represents fixed assets used for charitable purposes.
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11. DEBTORS
| DEBTORS | ||
|---|---|---|
| Trade debtors Other debtors Rent deposit Reserve gift aid Prepayments & accrued income |
2024 £ 8,667 - 1,875 500 9,400 20,442 |
2023 £ 2,065 - 1,875 500 12,764 |
| 17,204 |
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12. CREDITORS : Amounts falling due within one year
| CREDITORS : Amounts falling due within one year | ||
|---|---|---|
| Bank loans and overdrafts (see note 14) Trade creditors Social security and other taxes Other creditors Accruals |
2024 £ 10,957 5,867 5,462 1,243 1,809 25,338 |
2023 £ 10,126 5,495 5,563 1,370 7,025 |
| 29,579 |
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| 13. | CREDITORS : Amounts falling due after more than one year | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans (see note 14) | 312,494 | 322,984 |
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14. BANK LOANS
An analysis of the maturity of the loans is given below:
| Amounts falling due within one year on demand: Bank loans Amounts falling due between one and two years: Bank loans Amounts falling due between two and five years: Bank loans Amounts falling due in more than five years: Bank loans |
2024 £ 10,957 98,966 25,207 188,321 |
2023 £ 10,126 |
|---|---|---|
| 10,957 | ||
| 114,920 | ||
| 197,107 |
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15. SECURED DEBTS
The following secured debts are included within creditors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans | 323,451 | 333,110 |
The Charity Bank Limited hold a charge over the company which covers the freehold property. Big Issue Invest hold a charge over the company which covers the freehold property.
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16. CASH INFLOW FROM OPERATING ACTIVITIES
| Net income for the year Bank Interest payable Depreciation and impairment of tangible fixed assets (Increase) in stock (Increase)/decrease in debtors Increase/(decrease) in creditors |
2024 £ (34,357) 28,757 12,998 - (3,238) (5,072) (912) |
2023 £ 47,072 21,896 7,716 (2,597) (2,121) 999 |
|---|---|---|
| 72,965 |
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17. MOVEMENT IN FUNDS
| Unrestricted Funds Restricted Funds Total Funds Unrestricted Funds Restricted Funds Total Funds |
Balance at 1 April 2023 £ 37,657 215,418 |
Incoming Resources Balance at Resources Expended Transfers 31 March 2024 £ £ £ £ 296,106 (291,677) 109,648 151,734 343,526 (382,312) (109,648) 66,984 |
|---|---|---|
| 253,075 | 639,632 (673,989) - 218,718 |
|
| Balance at 1 April 2022 £ 65,880 140,123 |
Incoming Resources Balance at Resources Expended Transfers 31 March 2023 £ £ £ £ 267,976 (296,148) (51) 37,657 286,293 (211,049) 51 215,418 |
|
| 206,003 | 554,269 (507,197) - 253,075 |
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18. RESTRICTED FUNDS
The income funds of the charity include restricted funds comprising of the following unexpended balances of donations and grants held on trust for specific purposes:
| Antony Jurgen Charitable Trust Arnold Clark Awards for All BARN Lottery BARN NAVCA Beatrice Lang Trust Birmingham City Council Bromsgrove District Council (Community Builders) Bromsgrove District Council (Food) Cadbury Charitable Trust Crowdfunder Foodbank Frankley Parish Council Greggs Foundation Heart of England Community Foundation HS4 Bromsgrove INMAN Charity Trust JH Rausing Trust Lasletts Library Events Lord Austin Trust Lord Barnby Foundation Mitchell Marsh National Lottery Community Fund National Lottery Community Fund Cost of Living) National Lottery Partnership Nationwide Building Society Peoples' Postcode Lottery Reddich Borough Council Roger & Douglas Turner Rowlands Schroder Charitable Trust Southall Trust Worcestershire Community Fund |
Balance at Incoming Resources Balance at 1 April 2023 Resources Expended Transfers 31 March 2024 £ £ £ £ £ - 3,000 (3,000) - - 1,000 - (1,033) 33 - 10,000 - (3,009) (752) 6,239 1,098 - (1,098) - - 1,000 - (1,000) - - 5,000 - (1,504) (376) 3,120 - 6,200 (6,218) 18 - 107,578 49,513 (49,513) (107,578) - (30) - (1,533) 1,563 - 1,000 - (1,004) 4 - 3,477 - - (3,477) - - 210 (165) (45) - 698 - (698) - - - 20,000 (13,974) - 6,026 - 5,000 (5,000) - - - 40,000 (40,000) - - - 5,000 (5,092) 92 - 40,680 - (40,695) 15 - - 6,063 (6,014) (49) - - 2,000 (1,210) - 790 - 1,500 (1,526) 26 - 3,000 - (3,000) - - 5,000 - (1,504) (376) 3,120 - 60,000 (59,983) (17) - - 67,040 (66,941) (99) - 20,011 - (20,011) - - - 59,500 (14,930) - 44,570 9,570 - (9,541) (29) - - 10,000 (10,000) - 3,000 (3,089) 89 - 5,000 - (1,504) (376) 3,120 - 4,000 (4,000) - - - 1,000 (1,000) - - 1,336 - (1,336) - - - 500 (2,186) 1,686 - |
|---|---|
| Other | |
| Restricted Fund Balances | 215,418 343,526 (382,311) (109,648) 66,985 |
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18. RESTRICTED FUNDS (cont'd)
Previous reporting period
| 29 May 1961 Charitable Trust Albert Hunt Trust Arnold Clark Aviva Awards for All BARN Lottery BARN NAVCA Beatrice Lang Trust Bromsgrove District Council Cadbury Charitable Trust Crowdfunder DMF Ellis Eveson Foodbank Frankley Parish Council George Henry Collins Charity GJW Turner Grimley Charity Grimmitt Trust Groundwork UK Heart of England J Hopkins & HJ Sawyer JH Rausing Trust Lasletts Lord Austin Trust Lord Barnby Foundation Mitchell Marsh National Lottery Partnership Nationwide Building Society Peoples' Postcode Lottery Rowlands The SMB Charitable Trust Worcestershire Community Fund Restricted Fund Balances |
Balance at Incoming Resources Balance at 1 April 2022 Resources Expended Transfers 31 March 2023 £ £ £ £ £ - 5,000 (5,033) 33 - - 6,000 (6,000) - - - 1,000 - - 1,000 - 432 (429) (3) - - 10,000 - - 10,000 7,150 - (6,052) - 1,098 - 1,000 - - 1,000 - 5,000 - - 5,000 97,256 99,594 (89,302) - 107,548 - 1,000 - - 1,000 - 3,477 - - 3,477 - 5,000 (5,000) - - - 10,000 (10,000) - - - 500 (501) 1 - 698 - - - 698 - 2,000 (2,000) - - 3,000 3,000 (6,035) 35 - - 1,000 (1,000) - - - 3,000 (3,000) - - 1,000 2,000 (2,991) (9) - - 4,000 (4,000) - - - 750 (729) (21) - - 51,360 (10,680) - 40,680 2,934 5,844 (8,767) (11) - 1,000 - (1,000) - - - 3,000 - - 3,000 - 5,000 - - 5,000 - 30,000 (9,989) - 20,011 22,085 - (22,087) 2 - - 25,000 (15,430) - 9,570 5,000 - - - 5,000 - 1,000 (1,024) 24 - - 1,336 - - 1,336 140,123 286,293 (211,049) 51 215,418 |
|---|---|
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18. RESTRICTED FUNDS (cont'd)
Funders in excess of £20,000 (2023-24) Description of Funding Funding from BDC as part of the WCC Public Health pilot to fully Bromsgrove District Council (BDC) fund two community builder posts, developing Asset Based Development Work in Bromsgrove £49,513. Greggs Foundation To provide core costs at the New Frankley site. HS4 Bromsgrove To support the Food Bank. National Lottery Community Fund To provide core costs across the organisation. National Lottery Community Fund (Cost of To support the Food Bank and staffing. Living) Nationwide Building Society
This is a 2 year grant to cover core costs at the Bromsgrove site.
The following grants were given for the purchase of a van. The van was purchased in January 2023 and capitalised. Therefore the requirements of these grants have been fulfilled and they have been transferred to unrestricted funds.
Awards for All Beatrice Laing Trust Mitchell Marsh Rowlands The following funds also directly related to the operating costs of the Furniture project: INMAN Charity Trust Reddich Borough Council Southall Trust Roger & Douglas Turner Schroder Charitable Trust
The following funds also directly related to the operating costs of the food bank: Birmingham City Council Lord Austin Trust
Core Costs grants were provided by: Antony Jurgen Charitable Trust Lasletts Heart of England Community Foundation
NewStarts received funds on behalf of a community group with no bank account of their own. This is shown in the accounts as Library Events.
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19. PENSIONS AND OTHER POST-RETIREMENT BENEFITS
Defined contribution pension plans
The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £7,929 (2023: £6,965)
The pension liability and expense are allocated to unrestricted or restricted based upon the role of the employee that the contribution is for.
The outstanding pension contributions at the year end amounted to £1,564 (2023: £1,370).
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20. OPERATING LEASES
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operation leases, which fall due as follows:
| Within one year Between 2 -5 years More than 5 years Repeyments made in the year All operating leases are treated as an expense. |
2024 £ 403 2,010 - 2,413 202 |
2023 £ 403 2,010 - |
|---|---|---|
| 2,413 | ||
| 202 | ||
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21. RELATED PARTIES
There were no related party transactions for the trustees in the year ended 31 March 2024.
The Chief Executive Officer is married to a supplier who provides PAT testing for the charitable company. The amount paid to the supplier during the year was £4,958 (2023: £4,154)
The outstanding amount owed to the supplier at the year end amounted to £293 (2023: £284).
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22. ULTIMATE CONTROLLING PARTY
The charity is controlled by the trustees.
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Combined TAR and Accounts 31 March 2024
Final Audit Report 2024-12-19
Created: 2024-12-18 By: Emma Willder (emma@beyondprofituk.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAxtr1A2dQZU_k744_hWsQFhQ1yDmr2Oan
"Combined TAR and Accounts 31 March 2024" History
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