Charity Number: 1135192 Company Number: 04386613 (England & Wales) THE MUSTARDTREE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE MUSTARD TREE TRUSTEES. ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Legal and Admlnlstratlve Informatlon Trustees Annual Report Ilncorporatlng the Dlrectors Report and Straleglc Report) Independent Audltors Report to the Trustees 19 Consolldated Statement of Flnanelal Actlvltles 23 Consolldated and Charlty Bal?nce Sheet 24 Consolldated Statement of Cash Flows 25 Notes to the Flnanclal Statements 26 THE MUSTARD TREE LEGAL AND ADMINISTRATIVE INFORMATION Reglstered Charlty number: 1135192 Reglstered Company number: 04386613 Prlnclpal and Reglstered Offlce: 110 Oldham Road, Ancoats, Manchester, M4 6AG Trustees: M l Adlestone OBE Chalr ofTrustees J K Klelty Professor V S Shah MBE DL (resigned 12 March 2024) R J Caulfield C L Norman N Wertheim D Clark DL Chlef Executlve Offlcer: J Walbv Secretary: J Walby Audltor: Beever and Struthers Chartered Accountant and Statutory Audltor One Express l George Lelgh Street Manchester M4 5DL Bankers: CAF Bank Llmlted 25 Kln8s Hlll Avenue Kln85 Hlll West Mulling Kent ME19 4JQ The Co-operative Bank 70172 Cross Street Manchester M2 4JG Sollcltors: Glalsyers I st James's Square Manchester M2 6DN THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees and management team are pleased to present the annual report together wlth the consolidated flnancial statements of the charity for the year ending 31 March 2024 which are also prepared to meet the requlrements for a directors, report and accounts for Companies Act purposes. The accounts have been prepared in accordance with the accounting policies set out in Note I to the accounts and comply with the charitws governlng document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice appllcable to charitles preparing their accounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" las amended for accountSng perlods commenclng from l January 20191. Table ol Contents Welcome and Overvlew Strate icRe or 2023-24 Oblectlves 2. Achievements and Performance Key Highlights 4. Flnanclal Review 5. Goln8 Concern Charit Misslon and Values 6. Our Model 7. Plans for the Future Structure and Governance 8. Management of Key Rlsks and Uncertalnties Employee Involvement 10. Thank you to our supporters 11. Trustee responslblllties and approval THE MUSTARD TREE TRUSTEES, ANNUAL REPORT {INCORPORATING THE DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Welcome and Overview from Chair Mark Adlestone OBE and CEO Jo Walby We are pleased to present Mustard Tree's annual report and audlted accounts for 2023-24. As the charlty moves Into Its 30 year operatlng In Greater Manchester, our mlsslon remalns the same- 5upportln8 people in crlsls, living In poverty or at risk of homelessness. At the end of th15 flnanclal year, the Joseph Rowntree Foundatlon publlshed Its annual UK Poverty report, headlinln8 that 'Poverty has increased, close to pre-pandemic levels.. Manchester is cited as one of the local authoritles with the hlghest child poverty rates In En8land145%1 A new reportfrom the Greater Manchester Immlgratlon Ald Unlt IGMIAU) and the BoazTrustshows how people In Greater Manchester 'are spending years, even decades, living in destltution solely because of thelr ImmlgratSon status,. We are now beglnning to respond to the refugee crlsls, which expects to drlve up rough sleeping figures once more. Due to the above factors and our'open-doorf approach, Mustard Tree now welcomes over 10,000 vislts to our three hubs each month. We create opportunlties to help improve economlc wellbeing and find settled homes. We do this through Communlty Shops, tralning placements, support services, glftlng schemes, vocatlonal trainlng and creatlve cla55es- offerlng a conslstent, warm welcome to all. Guided by our values- our message Is clear; we believe that everyone needs a home; that everyone needs opportunity to earn and Income; and that everyone needs help at some polnt in thelr lives. to Partnership Viilue Diversity Boltef peoTrL¢ -opportunity Dlgnity for AiL Lhtt www.'rf.or 2htt www.resolve overt manchester-into-destitution overt -2024-theossential- uide-to-understandin overt -or a-slow-violence-how-immi ration-control-forces- -in-the-uk le-in- reater- eo THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Strategic Report 2023-24 OBJECTIVES We maintalned a 6-year outlook ofthe Key Performance Indicators IKPlsl to enable consistency and evaluate trends. At the beglnnin8 of the period. we set 4 aims to achieve by 2026: Prevent Homelessnes5 for 3,000 people Llft 30,000 people out of povertv Increase connectivity. communlty and reduce soclal isolation Be regarded as a 'World Clasg organisation to work for The alms were developed from what we thlnk success looks Ilke at Mustard Tree~that we want people out of homelessness and poverty, we want people to earn more money. and we want people to have homes. Freedom Project Gruduatlon In order to achleve thls, we set out to stabllise our response to the need for food parcels and emergency support In order to Increase focus on tralnlngi work placements and developlng the Freedom Project. However, we recognlse that financial hardship Is one of the key contrlbutors to rising poverty and Inequality, and we are therefore committed to running emergency provlslons for as long as the demand Is there, and we can sustaln It. We have been able to reduce our food costs whilst sustalnlng the same numbers of people uslng the servlce. The food budget has been spllt to enhance our Café space to provlde a more dlgnified food servlce- offerlng low-cost breakfast, lunch and drinks. as well as creatlng a new workstream for Freedom Project tralnees. 2. Achlevements and Performance Demand for our servlces contlnues to grow, partlcularly as we focus our servlces on the Freedom project, training and support. Over 10,OOOpeople were helped by Mustard Tree thls year wlth 4.644 newpeople reqlsterlng to use our servlces In the 23-24perlod. A5 well as our usual outcome measures, the charlty has made progress in helplng people Improve their indlvldual income, with employabllity and debt reduction at Its centre. Throu8h 121 support. we have helped: 214 people Increase their income. with a total cash value of £71,049. 51 people were helped with reducing their debt by a total of E22,644. 55 people, furthest away from the job market, secured employment at GM Llving Wage rate or above THE MUSTARD TREE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The table below showsthe numbers of people we support and the trend over the past 6 years. PERFORMANCE INDICATORS- INDIVIDUAiS Freedom Project- skllls, work and coachlng placement Support for new tenancles Includlng Eifted furnlture Tralnlng (Engllsh Language. Customer Servlce. IT. Job Clubl 121 Support- hardship loans. flnance & housing Familles who use the Food Clubs 1&19 19.20 2fv21 21-22 22-23 23.24 208 244 131 266 380 736 1279 585 891 952 784 510 650 238 594 998 961 225 403 1030 1956 2240 2244 580 3049 3889 5703 5690 This year, we have been working to our 2023-2026 Business Plan objectives: Prevent Homelessness for 3,000 people Llft 30.000 people out of poverty Increase connectivity, community and reduce soclal Isolation Be a 'World Class, organisation to work for Results for thls flnan¢Sal ear In¢lude: We helped 7,805 Indivlduals out of poverty We helped 1,193 Indlvlduals out of homelessness or prevented homelessness We helped 55 people Into work and provided 45 work placements wSth corporate partners We helped 64 people Into long term, settled accommodatlon We provlded £271,661 worth ofglfted Items andlor hardshlp funds to 4,824 people We supported 3,916 people through food club visits; a further 1,774 people accessed free food hank you for Ilstenlng and thank you for everythln8- there was no way out. but you Ilsten and let me be part of somethln8 blgger and trust me, Samuel, November 2023 KEY HIGHLIGHTS Awards Mustard Tree had an exceptlonal awards year, with the staff team beSng acknowledged for thelr work In the below ceremonies: l Love Manchester Awards.. Most-Loved Charity Category Splylt of Manchester Awards.. Tackling Inequalitles Category Heart of Salford Awards.. VCSE Large Organisation of the Year Category Heurt of Salford MCR 2023 AWARDS irit of ManC￿ter 2023 Wlnner rvJNNEYb Award Winner THE MUSTARD TREE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 We were dellghted to wln these awards for our contributlons in Greater Manchester, and proud to wln them for our cllents. trainees, partners and supporter5. Work Placements During the period. we have delivered more external work placements than any previous year- a total of 45 secured for our Freedom Project trainees acr055 hospitality, warehouse, retall, customer servlce, constructlon and more. The success Involved buildinB and maintainSng relatlonships over tlme with key partners and supporter organisations, and readjusting staff roles to glve more focus to employablllty. addilion. Mlno on Work Plocement wlth BrundAddAtlon Rob on Work Plocement ot the Moldron Hotel Tralnees spend an avera8e of two weeks with a partner or8anlsatlon to experlence a working environment outslde of Mustard Tree. The primary 8oal Is to help enrlch a trainee's CV or lob appllcatlon, but manv placements naturally lead to offers of pald work. A total of $5 people were supported Into pald work or better paid work, with work placements playing a role in this. Elevate Salford Our previous report references a 'unlque partnership to develop and Ilnk up accessible work and skllls support with key charitles in Salford, co-ordinated by Salford cvs,. Recently branded 'Elevate Salford,, the programme Is well underway and is already generatlng employment outcomes and case studies between partners working across Salford. The below testimonial is an example of how the programme benefits local residents In Salford: Freedom Project troinee Chormoine on slte with Se(Idon THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 "Michaeiy has built himself a new routine, new friendships and new he¢71thy ht7bits... Michael plt7nS to also goin training at a worehouse und is lookingforword to thefuture through a positive lens, with the contlnued 5UPPOrt of Salfvrd Loaves ond Flshes and Mustard Tree". The Elevate Salford programme provides a range of services to support, traln and prepare people furthest from the labour market, to gain skills, trainlng and employment via the strong charlty sector In Salford. The programme isfunded by the Albert Gubay Charitable Foundation Trust IAGCF) with an additlonal AGCF grant, Salford Clty Councll Is fundSng the coordlnatlon of the programme by Salford CVS. Cornmunlt Café Tom wlth Working Wardrobe atMu5tord Tree Our Ancoats café Is a tralnlng space for people wantln8 to become a barlsta or work In h05pltalitv. Offerlng breakfast from 9am, lunch, tea, coffee and cakes, it Is one of the most affordable places In the city for a cup oftea or coffee. After securing grant and partner fundlng to help redevelop the space, It ha5 become both a destlnatlon for local residents to reduce Isolatlon, and a successful gateway Into employment. We have partnered with 'Change Please,, an award- Mustard Tree Communlty Café wlnning social enterprise tackling homelessness through Its Barlsta Tralnlng Programme. Tralnees who beneflt from the Freedom Prolert also benefit from Change Please - helplng to attaln a livlng wage lob, support wlth houslng, therapy, a bank account and onward employment opportunities. Cam al ns and Medla Mustard Tree has jolned the'soclal Homes for Manchesterf coalltlon- a collective movement for houslng justlce In Manchester. We will represent the charlty on both coalition and commisslon to promote the beneflts of bulldlng more social homes in our communities and lobby for change around planning and development. Name changed to protect anonymity THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIREcfoRS' REPORT AND STRATEGIC REPORT} FOR THE YEAR ENDED 31 MARCH 2024 To mark World Homelessness Day In October, we embarked on two awareness campaigns across Manchester. We contributed to a Joint storytelling workshop alongside Real Change organisations to exhibit inside the Manchester Arndale Centre, called 'Random Objects of Kindness, Workshops were conducted by 'Heard Storytelling,, Wlth three participants from Mustard Tree taking part to tell their stories of hardship and hope. Stalf alongside residents of Miles Plrjtting We also worked with award-winnlng Creative Agency 'Leith' to draw attention to the rlse in rough sleeplng across Manchester. through Yhe Homeless Llstingsi5 reality of rental costs. series of mock-up property listln8s exposin8 the 'THEREISAWAYO We were featured on The Hlts Radio re5pondlng to a 'Which?' survey that an estlmated 700,000 households In the UK missed a rent or mortgage payment in Aprll 2023: htt mustardtreemcr.substack.com the-emer enc -Isnt- oln -awa We also attalned multiple pieces of coverage across televislon and radio after we were asked to provlde a response to Prlnce Wllliam's launch of h15 'Homewards' homelessness prevention project.. htt mustardtreemcr.substack.com listen-theres-a-wlll-Is-there-a- wa Partnershl Heordstorytelling Exhibition In order to address the causes of poverty and homelessness as well as respondlng to the consequences, we continue to co-chair the Homeless Prevention Action group through the Manchester Homelessness Partnershlp. We recognlse the correlatlon between poverty and homelessness, as cited in Manchester City Council's Anti-Poverty strateEV: °8y focuslng on preventlon, we can reduce the number of people who foll into poverty and reduce demand on the servlces thot supportpeople-. Hosting the MHP Preventlon Actlon Group Movln from 'Food to Freedom. The charity has started to build an evidence base of data and case studies to show how people move on from poverty and homelessness into longer-term support and ultimately independence-for example, from Food Club to training; from English language training to Freedom; from Freedom into work... htt Shtt www.heardstor mustardtree.or .com random-ob ects-of-kindness 05 mustard-tree-movement-for-chan 2023 io THE MUSTARD TREE TRUSTEE5' ANNUAL REPORT (INCORPORATING THE DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The examples below show the journey oftwo people who despite the dlfficulties they faced, came to Mustard Tree and seized the opportunities to make steps forward to improve their lives. Refugee Week: Reza'5 Story Reza's search for much-needed assistance trying to be reunited with his family led him to Mustard Tree. After countless unsuccessful attempts to flnd support, Reza declded to approach the charlty to seek help for himself and his family. The support team understood the ur8ency of his 51tuation and promptly offered help. The charlty could qulckly step into gear and facilitate a loan to cover the travel expenses required for his family's relocation. The welght of uncertalnty was lifted off his shoulders, knowing that Mustard Tree was there to support thelr journey towards safety and stablllty. Coffee Tmlning Wlth Change Please Change Please: Joe's Story Joe's remarkable journey began from a chaotlc life of crime and despair- to one of resllience and purpose: "I wasn't followlng the path my mother wanted me to go down", Joe was prlced out of Jolning tralning schemes, so was selllng drug5 to make ends meet. The long-awalted day arrlved when Reza's famlly flnally reunlted wlth hlm. As he caught slght of hls loved ones after an arduous 7-year separatS0n. wave of overwhelming emotions swept over him. Amldst the obstacles, Mustard Tree continued to provide support for Reza and his family. Reza found solace In hls interactions wlth Courtney, who went above and beyond to asslst. Her guidance In re81sterlng Reza's chlldren for school a task that at first Seemed perplexing and overwhelming proved to be invaluable. Reza sald: "I can see the Ilght of the future. Mustard Tree helped me flx my basics and 5UPPOrt my family- now I can follow my dreams". He ended up in a pollce station wlth a charge and received a 3-year prison sentence: "When I got out, I went and did a plastering course and a SIA Security course- even a sign language course- but nothIn8 was worklng". Joe got referred to Mustard Tree after asking the Job Centre If there were any charltles he could volunteer for: °It was a God send- a blesslng In a sense. After starting his training in the kitchen, Joe moved into the café. where he quickly excelled under the partnership with of Mustard Tree and Change Please: "Before I knew it, a company phoned me up and sald they would like to see me after an interview, they took me on permanentlv". Tormln THE MUSTARD TREE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIREcfoRS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW We achleved revenue of £2.09 mlllion for 2023-24. Managing expenditure and increases in demand whilst balancing the effects of Cost of Living and Inflation has been challenging- partlcularly in areas such as wages, energy and buildlng malntenance. Th55 resulted in a deficit of £114,000 before depreciation which translated to unrestrlcted reserves of £74,717. Key changes dellvered In the flnanclal year 2023-2024: GM Real Llving Wage rates Increased by IO% (the rest of the staff team recelved 4% in order to maintain the difference in salary leve151 Utllities and property support Costs Increased by 18% agalnst a plan of Il% Food costs- decreased by 30% after an increase of 89% in the previous year Trust and Grant Income was less than the previous year due to market conditions and less available Brants from dlvldends Café income increased from EIO.IJ)O In 2022-23 to £43,CK)O thls year due to relaunch We renewed our commitment to the Real Llving Wage whlch created salary Inflatlon of 14% on top of the 9.5% in the prevlous year. The aim of the Real Llvlng Wage Is to Increase the lowest wages In the economy, but thls sl8nlflcantly Impacts the charlty sector as wages are typlcally lower than the publlc and prfvate sectors. We malntalned our glftlng levels of 40% In ourcommunlty shops-we gave away food, clothln& furnlture and hardshlp payments to those most In need. We malntalned our services levels and increased our outcomes. For example, 55 cllent secured employment, and we delivered an addltlonal 45 work placements- some of the best results we have seen In the hlstory of the charlty. Loan for Ca Ital EM endlture on revenue- eneratln ro ects and ke Infrastructure The need for more sustalnable and 5elf-generated income became even more relevant over this year which led to a review of our IT systems with the decSsion made to replace key IT systems In order to automate 8ift ald. The charlty evaluated lending options and declded to undertake a loan with the co.op Bank for capital Projects. This provlded the capital to Invest In a new Fundralsln8 System and new LoglsticslRetall system which we e5tlmate wlll provlde an additional £60,000 per annum. Addltlonally, we declded to relaunch our Communlty Cafe which required Investment- for example, Barista equipment and tralnlng- to generate more Income and more tralnlng opportunlties. The Van fleet we are maintainlng is aging and costln8 more to keep runnlng In repairs and 50 capital fundlng to support the effective replacement of the most decreplt van5. Flnally, we also needed to evaluate the Envlronmental Impart of our organlsatlon and review how we could maximise our Green credentials across all we do. Reserve5 Poll¢ and Results Hlstorically, Mustard Tree ha5 tended to focus on dlrectin8 resources to front Ilne delivery and delivering budgets wlth minlmal contributions to unrestricted cash reserves. The land and the bulldlng owned by the charity is valued at over £2 million. Due to the growth of the charity, In 2021-22 our Reserves Policy was updated to alm for 3 months expenditure to cover the necesslty of closedown, or unforeseeable delays In receiving funds from donor5. This Is based on staffing and associated overhead costs including contractual obligations. The reserves target has ranged from £150k to £190k. As stated by the Charity Commi55ion, 'A reserves pollcy should not be regarded as a static policy...The circumstances of a charity or the environment in which it operates wlll change with tlme,. io THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our reserves are reviewed at each Trustee meetlng, and throughout thls year, It was clear that the flnanclal challenges of continued wage Inflation, food prlces and less Trust and Grant Income than the prevlous year, would have some impact on our reserves. Mustard Tree has therefore used unrestricted reserve5 to malntaln service5 durlng the pressures faclng most charities of increaslng demands, less income and increasing costs. In March 2024, the charity had reserves as follows:_ £74,717 whlch are deployable and are able to be spent on any of the charitrfs activitles (unrestricted reserve51 £17,043 whlch represents donatlons made where the donor has speclfled a partlcular purpose for their funds Irestrlcted reserves) Next Steps- Rebulldlng ReseNes Our oblectlve Is to rebulld reserves In Ilne wlth our pollcy by the end of 2026 wlth changes that Include: Securlng additional public sector contracts Planned restructure of resources Re-negotlation of buildlng contracts Increaslng self-generated income Progress against these plans will be revlewed as part of Flnanclal Updates durlng Trustee meetlng5. GOING CONCERN The Trustees and Management team are confident In the resillence of the organlsation based on our track record over the past 30 years,. the decisions taken to increase self-generated income as well as improvements made to the Fundraising capaclty of the charity. We have Increased the Trust and Grant plpeline to over £2mllllon pounds as well as secured a new publlc sector contract of £240,000 In March 2024. We have opportunitles to submlt a new lottery fundlng bld as well as other large-scale opportunltle5 w5th partners such as the Access Foundatlon and Garfield Weston. The Leadershlp team has been expanded to include Operatlons, Servlces, Fundralslng, HR and Communlcatlons as well as Flnance. Fundralsin8 remalns under the dlrect responsiblllty of the CEO, and we have plans for 30 Year celebratlons to ralse money for the charity In 2024. The past 12 months for many charltles have been dlfflcult In terms of balanclng income and expendlture whllst recoverlng from the shocks of Covid, Cost of Llvlng crlsls and Inflation. Whilst the use of reserves to malntain service dellvery was requlred in 2023-24, we are positive we will Increase reserves In 2024-25. We have agreed a modest budget for the new financlal year, with the tools to reduce expenditure In areas such as external contracts and restructuring of resources should these be requlred. We will explore further opportunltles wlth the Publlc Sector to support the charity in core seTvlce delivery to Increase regular income and mltlgate the peaks and troughs of fundraislng. li THE MUSTARD TREE TRUSTEES, ANNUAL REPORT IINCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Charity Mission and Values Our mission Is to Combat Poverty and Prevent Homelessness. Mustard Tree supports people across Greater Manchester, tackling both the causes and consequences of poverty. Mustard Tree creates opportunities for people to improve their economic wellbeing and find settled homes. We offer open-door access to our services-we work with anyone In hardshlp who calls or walks through our door5 and offer 121 support and a dignified, warm welcome to all. We o)Yer large-scale recycling and reuse of items that people don't need dlrectly to those people who do through our community shops - gifting up to 40% of stock to those most in need safely and appropriately We offer an exceptional comblnation of trainlng, onsite work experiences and psycho-social support through our Freedom Project. groups, and training- building Skills, self-belief, and economic wellbeing Mustard Tree has developed a set of values that underpins all the work we do, By embedding these values. we define how we work with each other and other people. Our values are: Bellef - In people, worklng wlth people where they are, focuslng on strengths Dlgnlty - kindness, respect and compa5slon underlle how we work Opportunlty- creating opportunities for people to improve thelr lives Dlverslty- embracing the differences and valuing the contribution of all Partnershlp- commitment to worklng In partnershlp The charlty has 3 Communlty Shops In Ancoat5, Eccles and Llttle Hulton offerlng access to free or low-cost food through the Food Club and pre-loved clothln8 and household essentials such as furnlture, electrical Items, and white goods. Our helpdesk and online donatlon forms provide a route for people to donate unwanted items that we collect In our furnlture vans. We help people through 121 support focusslng on finances and movlng Into accommodatlon. We help people Into new tenancies through the provlslon of furnlture and other items. helpln8 people out of homelessness Into settled homes, Mustard Tree provldes In-house tralnlng In Customer Servlce: English {ESOL) and Digital Confidence and we host other partners who also provide tralnlng courses. We run a structured vocational training programme- 'the Freedom Projecv - through whlch people get involved In the enterprise side of Mustard Tree. The Freedom tralnees undertake tralnlng and real-life work experlences to help us to run the charity throu8h: Customer servlces in retail Warehouse skills in furniture collectlon/dlstribution Repair and PAT testing of white goods donated to the charity Food hygiene and catering skills in our industrial kitchen, Food Clubs and café Cleanlng and facilities experience in running of our buildin8S Mustard Tree tackles poverty of experlence through providlng creative activitle5 such as art groups, writlng groups and creative showcases. By helping people engage creatively. we help build confidence, recover self- esteem, and unleash new potential. Improvements in health and wellbeing are provided through increasing access to health services and partnerlng with health provlders on campalgns and hosting Services onslte. In 2023-24, the charity had 47 staff members and I1￿ volunteers as well as 380 trainees helping run the organisation. 12 THE MUSTARD TREE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIREcfoRS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 6 OUR MODEL Ourevldence base shows that many people who require support have complex needs. which change over tlme, and require responses at multiple points. SeTvl¢es therefore need to offer a multi-component service that incorporate5 a range of flexible responses., .Ek"vell-R 811Pfrt: Waltr41rt* VALUES e12- Proscilpllv8., polnlments wllh goal. ¢feffa18 Into agenck& . PArtnorshlp 8ulldln9 Tm, ope ltrwdi( pTdcem8nt Gup McFt affortal InteFvlewlll haylour cheftae The 'Walby-Jess' model proposes 3 levels of response for support downstalrs which alm to dellver appropriate support for all. These levels are based around the need we have seen slnce the Covld-19 pandemlc, where there has been much hlgher demand for reactlve support servlces. Level 2- Engagement ProactSve and semi- structured Appointmentldrop In Short-term Advocacy Level l- Safety Reactlve New re8, new tenancy, change of circumstances Slgnpostlng Contacting existing support workers Incldent and risk, TIC Advocacy Level 3- Freedom Proactlve and structured Volunteering and training Appolntment based Motivational Interviewlng Long-term Each level aim5 to provlde support for where an Indivldual is currently at, with opportunitles to refer Into a further level of support where appropriate. No level Is more Important than the other, any contact Is a posltive opportunity for further engagement or to build rapport. Additionally, based on our values and person-centred approach we commit to 5UPPOrtin8 people through whatever they are currently experlencing, wherever that fits on the model and even when It does not. As long as we are clear about our offer of support beyond Level l. we have to respect that people who choose to only engage at this level are making informed decisions. Maintainlng this positive relatlonship keeps the pathway open for further support. WV4w.crisb.or . medl 238843 a ra ewdence assessment of whal works In homelessne55 serytces 201B. dl 13 THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 PLANS FOR THE FUTURE PERIOD Mustard Treè YIIARS Next year Mustard Tree marks 30 Years of Combattlng Poverty and Preventlng Homelessness across Greater Manchester. Over three decades, the charity has grown to meet the demand and help communities navigate multiple crlses. We have made good progress agalnst the four alms we set for the charlty last year, whlch are reflected In the Indlcators in Sectlon l of the report. We contlnue to work towards these objectives for 2026. Ob ectlves - 8 2026 we wlll: Help 30,000 people increase their financial wellbeing, Increase their sk1115, increase self-belief, and ultimately reduce poverty across Greater Manchester Help 3,000 people make settled homes and prevent homelessness across Greater Manchester Develop a world-class organlsatlon to support the dellvery of our servlces so we can do more to the best of our abllltv Increase connertlvlty and commun5ty networks and reduce soclal Isolatlon across Greater Man¢he5ter Mustard Tree wlll target our efforts on what we are best at and what we think will have the most Impact In combattlng poverty and preventlng homelessness, whllst malntainlng and honourlng our values. We are l year Into our 3 year plan, and we have helped 7,791 Indlviduals out of poverty and 988 Indlviduals out of homelessness. Our planls to contlnue to work to the above objectlves as well as launch the following projects: New Welcome Hub for Refugees - £240,000 was commltted to the charity in March 2024 for the dellvery of Informatlon, advlce and support in housing and finances for people who are new refugees Staff Engagement project - Includlng Gallup12 Engagement survey: new Staff Handbook; development of a competency framework and investment in training in risk, health and wellbeing and safeguarding 30 Year celebrations- including Community Party with clients, partners and local residents as well as Fundraising dinner in October 2024 Further development of self-generated projects including the relaunch of the cafe, increased rental of room space and hlring out the compound land. 14 THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIREcfoRS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our plan is to maintain our income and deliver £2.2 million over 2024-25 through restructuring and expanding our fundraising team and maximlsing the assets we can control such as the café and hiring out the building. We wlll review and aim to reduce expenditure to support the rebuilding of reserves whllst maintalning our focus on service delivery. Structure and Governance The charity is a company limited by guarantee. The trustees, who are also the dlrectors for the purpose of company law, and who served durin8 the year were: M l Adlestone OBE Chalr of Trustees J K Kielty Professor V S Shah MBE DL Ireslgned March 2024> R J Caulfield C LNorman N Werthelm D Clark DL New trustees are elected followlng an open recruitment process and filled by analyslng gaps In the skllls, capaclty, and experlence of exlstlng trustees. New trustees recelve a i ¥'/Jhé•, full Induction. TV None of the trustees have any beneficlal Interest In the charlty. All the trustees are members and guarantee to contribute £1 in the event of a winding up. Oversight of all a¢tlvities is managed by the Trustee Board. They approve the budget, capital projects, any changes in strateglc directlon, and appoint the CEO. The daily functions are managed by a Senior Leadershlp Team ISLTI of the CEO, Jo Walby, Head of Services, Fiona Nelson and Head of Operations, Lindsey Morrls. Management accounts with key performance indicators are reviewed by the SLT monthly and the Trustees evaluate and revlew these documents every two months. Monthly management meetings also review Incldents and Safeguarding, HR and training and Case Management of Freedom Trainees. The Mustard Tree Is the 501e member of StandFirm CIC, a company Ilmlted by guarantee. All StandFlrm board members are appointed by The Mustard Tree trustees and the CEO of The Mustard Tree slts as a director on the StandFirm board. This company did not trade within the year and is now in the positlon to be dlssolved. The company's current policy concernlng the payment of trade credltors is to follow the CBI'S Prompt Payers Code, namely to: settle the terms of payment with suppllers when agreelng the terms of each tran5actlon. ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts: and pay in accordance with the companvs contractual and other legal obllgations 15 THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 8 MANAGEMENT OF KEY RISKS AND UNCERTAINCIES The Organ15ation risk registerls updated on a quarterly basis. and risk categorles include strategic, operational, reputational and financial areas for conslderatlon and mitigation. We operate a 'RAG' rating of red, amber. green risks and review these with Trustees on a regular basis. We also assi8n Trustees to key risk areas- such as Safeguardlng, Finance, People and HR and Trustees support the Leadership team. Prlorlty rlsks Include: RISK IT Rlsk Isystem breach/GDPR MITIGATION Insurance cover, 2-factor authentlcation across whole charlty, staff training annually, IT security policy. rules and notifications on all staff email, Dedicated Data Controller including System5 and Data analysis; GDPR legal statements across all referrals,. GDPR compliant fundraising s stem Weekly cash and operating c05t review5, monthly forecastlng to year end, Increase In number and size of public sector contracts for more predictable Income lup to 30% of total income), staged plan to rebulld over 3 years Retention plannlng for key staff members, wellbeing support in place through Smart Clinlc for every staff member, external clinical supervlslon for support staff, Emergency Response and Risk Mana8ement tralning and debrlef sesslons for all staff (every 6 month51,' partnership worklng to focus referrals on core offer Audits of Health and Safety systems and processes; an overview of Incidents and Near Misses are revlewed each month at Safeguarding Review meeting. chaired by CEO. An annual trainlng plan Is ongolng in Ilne wlth H & S compliance includlng Introduction to health and safety; safe uardlng; first aid; flre marshalllng,. professional boundaries. Reserves not meetlng the stated pollcy for the charitv Demand overwhelmlng the charity due to 'walk In, model Health and Safety including Safe8uardln8 Mustard Tree have 4 staff qualified In Mana8lng Risk- Institutlon of Occupatlonal Safety and Health accreditatlon. IIOSHI. 9 EMPLOYEE INVOLVEMENT The charlty's policy Is to consult and discuss with employees, directly and at staff meetings, matters Ilkely to affect employees, Interests. Informatlon of matters of concern to employees are given through team meetings, informatlon bulletlns and reports whlch seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. Evidence of thls approach include the declsion to maintaln belng a Real Living Wa8e employer and to support the roll out of the fleal Llvlng Wage approach to other employers across Greater Manchester. There are managers across all areas of the charity including.. Retail and Lo8istiC5; Services; Tralning,. Food; Facilities; Fundraising and Partnerships. Each manager holds regular 1215 With their staff as well a5 team meetlngs and staff members are encouraged to contribute their Ideas, views. and opinions. We are Introducing formal annual appralsals, and, In the meantime, staff members are encouraged to feedback durlng thelr 121s. Monthly management meetings are held in which each manager provides a verbal update to thelr monthly reports submitted to the CEO. Organisation policies and processes are stored electronically on the HR database-'People HR, and each staff member has indSvldual access to this system. 16 THE MUSTARD TREE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Safeguarding, Incident Management and Boundaries Training sessions are held at least every 2 months to brlef new starters and to provide further learning refresh courses for ex15ting colleagues. 10 THANKYOU TO OUR SUPPORTERS As always, we would like to thank all our supporters, donors and partners- without whom we could deliver our services and support the thousands of people who come through our doors each month. The continued support we recelve helps us respond to the Immediate need, safeguards our charlty for the future and glves us the confidence to invest and maxSmise our impact. We want to say a speclal thank you to our malor supporters who have been essentlal to thls year Including: The Oglesby Charltable Trust Salford CVS Our values Zochonls Charltable Trust For Housln oreclte Opportunlty Partn8r8hlp A¢¢ess Foundatlon Albert Gubay Foundatlon RANK Trust Dlgnlty for ALL Baker Famlly The Natlonal Lottery Communlty Fund Dashllght Foundatlon Manchester Clty Councll Salford Clty Coun¢ll WEA l Greater Manchester Comblned Authorlty Bellef peopL Dlver81ty' Thank you to our Charlty of the Year Partners Includlng.. Seddon Constructlon, The Casey Group, Cltysultes, Beaverbrooks, BGF, Matillion, Anderton Gables, Cushman & Wakefield and our longest standing corporate partner-watson Homes. We want to thank all our partners In the Voluntary. Communlty and Social Enterprlse sector (VCSEI. The passion, resllience and courage shown by charities in Manchester and Salford is awe inspiring and makes Greater Manchester a better place. We would also Ilke to thank all our indlvidual fundraisers and the In-klnd support we receive as this continues to provide opportunities where financial contributions may not be possible. As well as countle55 food, furniture and clothing donations- businesses, volunteers and communities have rallled to provide items to support our clubs and classes. Thank you. Special thanks and appreciatlon must go to the staff member5, volunteers, and trustees for all the continued hard work, passion, and Joy they bring to our (harity. 17 THE MUSTARD TREE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 11 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees, who are also the directors of The Mustard Tree for the purpose of company law. are responslble for preparlng the Tru5tees' Report and the financlal Statements In accordance with applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) Company Law requlres the trustees to prepare financial ststements for each financlal year whlch glve a true and fair vlew of the state of affalrs of the charity and of the incomln8 resource5 and applicatlon of resources, Includlng the income and expenditure, of the charitable company for that year. In preparlng these flnancial statements, the trustees are required to: Select sultable accountlng pollcles and then apply them conslstently Observe the methods and princlples in the Charities SORP: Make Judgements and estimates that are reasonable and prudent,. and Prepare the flnancial statements on the 80ing concern basls unless it is Inappropriate to presume that the charlty wlll contlnue In operatlon The trustees are responslble for keeplng adequate accountlng records that dlsclose with reasonable accuracy at any tlme the flnanclal posltlon of the charity and enable them to ensure that the financial statements comply wlth the Companles Act 2006. They are also responslble for safe8uardln8 of the asset5 of the charlty and hence for taking reasonable steps for the prevention and detectlon of fraud and other Irregularitles. Audltor In accordance wlth the companvs artlcles. a resolution proposlng that Beever and Struthers, be reappolnted as auditor of the company, will be put at a General Meeting. Dlsclosure of Informatlon to the Audltor Each of the trustees has conflrmed that there is no informatlon of whlch they are aware which Is relevant to the audlt, but of whlch the auditor15 unaware. They have further confirmed that they have taken approprlate Steps to Identlfy such relevant informatlon and to establish that the auditor Is aware of such Informatlon. The trustees, report lincorporatlng the directorf report and the strateglc report} was approved by the trustees on 7111 /¥-L>llt and signed on their behalf by M Adlestone OBE Trustee 18 THE MUSTARD TREE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MUSTARD TREE FOR THE YEAR ENDED 31 MARCH 2024 Oplnlon We have audited the consolidated financial statements of The Mustard Tree Ithe 'charltVI and StandFlrm CIC I'the subsidiarrfl for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Actlvities, the Consolidated and Charity Balance Sheet, the Consolidated Statement of Cash Flows and the notes to the flnanclal statements, Including a summary of significant accountlng policies. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, includlng Financial Reportlng Standard 102 The Financiol Reporting Standard upplicable in the UKand Republic of Irelond (United Kingdom Generally AcceptedAccounting Practice) In our oplnion, the financlal statements: glve a true and falr vlew of the state of the group's affalrs as at 31 March 2024 and of It5 Incomlng resources and appllcation of resources, for the year then ended; have been properly prepared In accordance with Unlted Kingdom Generally Accepted Accountln8 Practice; and have been prepared Sn accordance wlth the requlrements of the Companles Act 2006. Basls for oplnlon We conducted our audlt In accordance with International Standards on Audltlng (UK) IISAS IUKII and appllcable law. Our responslbllltles under those standards are further descrlbed In the Audltorfs responslbllities for the audit of the flnanclal statements sectlon of our report. We are Independent of the charlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the flnanclal statements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethical responsiblllties in accordance with these requirements. We belleve that the audlt evldence we have obtained Is sufflclent and appropriate to provide a basls for our oplnion. Concluslons relatlng to golng concern In audlting the financlal statements, we have concluded that the trustees, use of the golng concern basls of accountlng in the preparatlon of the flnancial statements is appropriate. Based on the work we have performed, we have not identlfied any material uncertaintles relatlng to events or condltions that, indlvidually or collectlvely, may cast signlficant doubt on the group's or parent Charity's ablllty to contlnue as a golng concern for a perlod of at least twelve months from when the flnancial statements are authorised for Issue. Our responsibilities and the responslbllities of the trustees with respect to golng concern are descrlbed In the relevant sectlons of thi5 report. Other Informatlon The trustees are responsible for the other Informatlon. The other informatlon comprises the Information Included in the annual report, other than the financlal statements and our auditorfs report thereon. Our opinion on the flnancial statements does not cover the other Informatlon and, except to the extent otherwlse expllcltlv stated In our report, we do not express any form of assurance concluslon thereon. In connection wlth our audit of the flnancial statements, our responsibility Is to read the other informatlon and, in doing so, consider whether the other Information is materially inconslstent with the financlal statements, or our knowledge obtained in the audit or otherwise appears to be materlally misstated. If we identify such materlal inconslstences or apparent materlal misstatements, we are required to determine whether there is material mi55tatement Sn the flnancial statements or a materlal misstatement of the other Informatlon. If, based on the work we have performed, we conclude that there it a material misstatement of this other information, we are required to report the fact. We have nothing to report in this regard. 19 THE MUSTARD TREE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MUSTARD TREE FOR THE YEAR ENDED 31 MARCH 2024 Oplnions on other matters prescrlbed by the Companles Act 2006. In our oplnion, based on the work undertaken in the course of our audit: The informatlon given in the tru5tees' report which Includes the dlrectors, report prepared for the purposes of company law, for the financial year for whlch the ftnanclal statements are prepared Is consistent wlth the financial statements; and The directors, report Included within the trustees, report has been prepared In accordance wlth appllcable legal requlrements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charity and its envlronment obtained In the course of the audit, we have not Identlfled materlal mlsstatements In the dlrectors, report Included withln the trustees, report. We have nothlng to report in respect of the following matters In relatlon to whlch the Companles Act 2006 requires us to report to you If, in our oplnion: adequate accountln8 records have not been kept, or returns adequate for our audlt have not been received from branches not visited by us; or the financial statements are not in agreement with the accountlng records and returns; or certaln dlsclosures of trustees, remuneration specified by the law are not made,. or we have not received all the Informatlon and explanatlons we requlre for our audlt; Responslbllltles of trustees As explained more fully In the statement of trustees, responsibllitles, the trustees, who are also the direttors of the charlty for the purpose of company law, are responsible for the preparation of the financlal statements and for belng 5atlsfled that they glve è true and falr vlew, and for such Internal control as the trustees determlne Is necessary to enable the preparatlon of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responslble for assessing the charity's abllity to contlnue as a golng concern. disclosln8, as applicable, matters related to 8olng concern and usln8 to golng concern bas15 of accountlng unless the trustees elther Intend to liquldate the charltable company or to cease operatlons, or have no reallstlc alternative but to do so. Audltorfs responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal misstatement, whether due to fraud or error, and to Issue an auditorfs report that includes our oplnlon. Reasonable assurance Is a hlgh level of assurance but Is not a guarantee that an audit conducted In accordance wlth ISAS (UK) will always detect a materlal mlsstatement when It exists. Mlsstatements can arlse from fraud or error and are consldered material If. indivldually or In the aggregate, they could reasonably be expected to influence the economlc decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in Ilne with our responsibSllties, outlined above, to detect material m15Statements in respect of irregularitles Including fraud. The speclflc procedures for thi5 engagement and the extent to which these are capable of detecting Irregularities, Including fraud Is detailed bel 20 THE MUSTARD TREE INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE MUSTARD TREE YEAR ENDED 31 MARCH 2024 The extent to which the audit was considered capable of detecting Irregularitles includlng fraud Our approach to Identifying and assessing the risks of material misstatement In respectof irre8ularltles, including fraud and non-compliance with laws and regulations, was a5 follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabllitles, and skills to Identify or recognise non-compliance with appllcable laws and regulations. we identifled the laws and regulations appllcable to the company through dlscussions wlth directors and other management, and from our commercial knowledge and experlence. we focused on speciflc laws and regulations whlch we consldered may have a direct materlal effect on the financial statements or the operation5 of the company, includlng Companles Act 2006. the Charitles Act 2011, taxatlon le8lslatlon, data protection, safe8uardln& employment and health and safety leElslatlon. we assessed the extent of compliance wlth the laws and regulations identlfied above through making enquirles of management. Identified laws and regulatlons were communlcated wlthln the audlt team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibillty of the companvs financial statements to materlal mlsstatement, Includlng obtalnlng an understanding of how fraud mlght occur, by: making enqulrles of management as to where they consldered there was susceptibility to fraud, thelr knowledge of actual. suspected. and alleged fraud. conslderin8 the Internal controls In place to mitlgate risks of fraud and non-compllance wlth laws and regulations. To address the rlsk of fraud through management bias and override of controls, we: performed analytlcal to Identlfy any unusual or unexpected relatlonshlps. tested journal entries to identify unusual transactions. assessed whetherjudgements and assumptlons made In determlnlng the accounting e5tlmates set out In Note 3 were indlcatlve of potential blas. investlgated the ratlonale behind slgnificant or unusual transactions. There are Inherent limltations in our audit procedures described above. The more removed that laws and re8ulatlons are from financlal transactions. the less likely it is that we would become aware of non-compliance. Auditlng standards also limit the audit procedures required to identify non-complSance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, If any. Material misstatements that arise due to fraud can be harder to detect than those that arlse from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the flnancial statement5 is located on the Financial Reporting Council's website at htt www.frc.or auditorsres onsibilities. This description forms part of our auditorfs report. 21 THE MUSTARD TREE INDEPENDENT AUDITOIYS REPORTTO THE MEMBERS OF THE MUSTARD TREE YEAR ENDED 31 MARCH 2024 Use of our report Thls report is made solely to charitable company's members, as a body in accordance with Chapter 3 of Part 16 of the CompanWs Act 2006. Our audit work has been undertaken so that we might state to the charitable companvs members those matters we are required to State to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslblllty to anyone other than the charitable company and the charitable members as a body, for our audit work, for thls report, or for the opinions we have formed. Sue Hutchlnson FCCA (Senlor Statutory Audltor) For and on behalf ol Beever and Struthers Beever and Struthers Statutory Audltor One Express l George Lelgh Street Manchester M4 5DL Date: Iq112)3ft 22 THE MUSTARD TREE CONSOUDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNn YEAR ENDED 31 MARCH 2024 Note Unrestricted Unrestricted Funds Funds General Buildin8 2024 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Income and endowments: Donatlons and legacie5 CharStable actlvities Investment income other Income Total Incomlng resources 486,257 673,936 1.333 93,738 1.255,264 835,810 1,322.067 673,936 1,333 93,738 835,810 2,091,074 1,532,610 613,853 875 43,085 2,190,423 Expendlture on: Ralsing funds FundraSslng and publicity Tradin8 Costs 160.938 316,819 477,577 4,126 11,078 15,204 165,064 521,455 686,519 167,263 843,034 1,010,297 193,558 193,558 Charitable activlties Support services and tralnlng StandFlrm 899,560 33,036 661,078 1,593,674 1,227,022 899,560 33,036 661,078 1,593,674 1,227,022 Totsl resources expended 1,377,317 48,240 854.636 2,280,193 2,237,319 Net (expendlture) for the year (122,053) {48,2401 (18,8261 1189,119) 146,8961 Reconclllatlon ol funds: Total funds brought forward Total funds carrled forward 21 196,770 74,717 2,151,413 2,103,173 35,869 2,384,052 17,043 2,194,933 2,430,948 2,384,052 The consolidated statement of financial activities Includes all galns and losses In the year. Incomlng resources and resources expended for the holdln8 company derlve from continulng activlties. The consolldated statement of financSal activltles also complles wlth the requirements for an Income and expenditure account underthe Companies Act 2006. The comparatlve statement of flnanclal activlties is shown in note 30 to the financSal statements. The notes on pages 26 to 41 form part ofthese accounts. 23 THE MUSTARD TREE CONSOLIDATED AND CHARITY BALANCE SHEET AS AT 31 MARCH 2024 Total Funds Total Funds 2023 Charity 2024 Group 2023 Group 2024 Charltv Note Flxed assets: Fixed assets 16 2,266,091 2,247,379 2,266,091 2,247,379 Current assets: Debtors Cash at bank 17 158,183 223,472 381,655 259,251 270,223 529,474 158,183 223,472 381,655 290,571 262,525 553,096 Llabllltles: Creditors,. amounts falllng due withln one year 18 1267,441) 1392,8011 1267,441} 1392,5231 Net current assets 114,214 136,673 114,214 160,573 Total assets less current Ilabllltles 2,380,305 2,384,052 2,380,305 2,407,952 Credltors: amounts falllng due after one year 19 {185,372) (185,372) Total net assets 2,194,933 2,384,052 2,194,933 2,407,952 Funds of the Charlty: Restricted income funds Bullding Unrestrlcted funds General Unrestricted funds Total Charlty funds 21 17,043 2,103,173 74,717 2,194,933 35,869 2,151,413 196,770 2,384,052 17,043 2,103,173 74,717 2,194,933 35,869 2,151,413 220,670 2,407,952 The trustees have prepared group accounts in accordance with section 398 of the Companles Act 2006 and sectlon 138 of the Charitles Act 2011. These financlal statements were approved by the board of trustees and authorised for Issue on and are signed on behalf of the boar M Adlestone OBE Trustee Charity resignation No. 1135192 Company Registration No: 04386613 The notes on pages 26 to 41 form part of these accounts. 24 THE MUSTARD TREE CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024 2024 Group 2023 Group 2024 Charity 2023 Charitv Reconclllatlon of net Cash flow from operatlng actlvltles: Net {deflcit) I surplus 1189,1191 (46,8961 (213,0191 146,8361 Adjustments for: Investment Income Depreciatlon Decrease I Ilncreasel In stocks Decrease / lincreasel In debtors (Decrease) / Increase In credltors 11,333) 98,880 {875) 92,933 959 {188,7011 73,468 (69,112) 11,3331 98,880 {8751 92,933 959 1188,7021 73,468 {69,0531 101.068 (157,391) {147,895) 132,388 1157,1131 {140,1971 Cashflow statement Net cash Inflow / loutflowl from operatlng actlvltles: (147,895) 169,112) 1140,1971 {69,0531 Investlng actlv5tles; Purchase of flxed assets Investment Income Net cash outflow from Investlng activStles: (117,592) 1,333 1116,259 162,210) 875 61,335 1117,592) 1,333 1116,259 162,2101 875 161,335 Flnanclng actlvltles; 8ank loan advance Bank loan repayments Net cash Inflow from flnanclng activities: 220,000 12,5971 217,403 225,000 12,5971 217,403 Net Increase In cash and Cash equlvalents: 146,751) 1130,447) 139,0531 (130,3881 Cash and cash equlvalents at l Aprll 2023 270,223 400,670 262,525 392,913 Cash and cash equlvalents at 31 March 2024 223,472 270,223 223,472 262,525 The notes on pages 26 to 41 form part ofthese accounts. 25 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l. General Informatlon The Mustard Tree is a company limlted by guarantee, Incorporated in England and Wales. It consequently does not have any share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of a liquidation. The registered office15 detailed on page l. Statement of Compllan¢e The flnanclal statements have been prepared In compllance wlth FRS 102, Yhe Flnanclal Reportlng Standard appllcable In the UK and RepublSc of Ireland, the Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 (Charitles SQRP {FRS 10211 and the Companles Act 2006. The Mustard Tree meets the deflnltlon of a publlc beneflt entlty under FRS 102. Assets and liabllltles are Inltiallv recognlsed at h15torlcal cost or transactlon value unless otherwise stated In the relevant accounting pollcy notesls), The financlal statements are prepared In sterllng, whlch Is the functlonal currency of the charlty. Monetary amounts In these financial statements are rounded to the nearest £. 3. Accountlng Pollcles The accounts have been prepared In accordance with the charlty's governlng document, the Companles Act 2006 and "Accountlng and Reporting by Charlties; Statement of Recommended PractSce appllcable to charltle5 preparln8 thelr accounts In accordance with the Flnancial Reportln8 Standard appllcable In the UK and Republlc of Ireland IFRS 102). The flnanclal statements have been prepared under the hlstorlcal cost conventlon. The princlpal accountlng pollcies adopted are Set out below. The flnanclal statements consolldate the results of the charity and Its wholly owned subsldlary StandFlrm Communlty Interest Company on a Ilne-by-llne basls. A separate Statement of Flnancial Actlvities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemptlon afforded by sectlon 408 of the Companies Act 2006. Golng Concern The management team and Trustees are confident In the reslllence of the or8anlsatlon as demonstrated by the performance over the past 12 months. Whilst the Impact on fundralsing and retail Is still subject to the wlder Covld-recovery for the country, we are Investing In both our staff teams and capltal in order that we can develop and manage the dlverse nature of the funding streams in order that we provide greater opportunltles to tolerate downturns In any partlcular area. The operational reserves posltlon for the charSty has Increased wlth cashflow decreasing being invested in staffing and operating developments. Ca5hflow remains in a solid positlon, and we have built a modest budget In place for the new flnancial year. The budget includes contlnued Investment in the staff team to accommodate the increases In demand as well as the opportunity to strengthen the leadership team, Charltable funds Unrestrlded fund5 The charity maintains a general unrestricted fund which represents funds which a￿ expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capltal investment. A fixed asset fund is maintained which represents the written down value of certain tangible fixed a55et 26 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charltable funds Restrlcted funds Restricted funds are to be used for partlcular purpose5 as laid down by the provider of the funds. The board of trustees carefully monitor the application of those funds in accordance with the restrlctions placed upon them. Incomlng resources Income is recognised when the charlty is legally entitled to It after any performance condltlons have been met, the amounts can be measured rellably. and it is probable that income will be received. Incorne from donatlons and legacles Such income is received by way of 8rants, donations and gifts and Is included in full In the SOFA when recelvable. Grants, where entltlement Is condltional on the dellvery of a speciflc performance by the charity, are recognised when the charlty becomes unconditionally entitled to the grant. Where Incomes Is recelved In relatlon to a particular project or actlvity to be carrled out over a specified period, the relevant proportion of such income is deferred so that It is recognised in the same perlod that the relevant expenditure Is incurred and when the charity becomes entitled to It. Glfts and donated servlces As the value of services provlded to the charity by volunteers cannot be quantifled, they have not been Included In these accounts. Furnlture, clothing, food and other items are donated for purchase by cllents able to pay and are Included as Incomlng resources wlthln actlvitles for generatln8 funds. Those sold are valued at the tlme of sale. Income from Investments Bank interest is Included Sn the Income and expendlture account on a recelvable basls. Government grants Government grants are recognlsed when the charlty has entltlement to the fund5, any performance condltlons attached to the grant have been met, It Is probable that the income will be recelved, and the amount can be measured reliably and Is not deferred. Recognltlon of Ilabllltles Llabilities are recognlsed on the accrual's basls In accordance wlth nof mal accountlng prlnclples, modlfied where necessary In accordance wlth the guidance given In the SORP. Reallsed 8ains and losses are Included In the accounts on the date at whlch a contractual obll8atlon Is entered Into. Allocatlon of Incomlng resources Income from donations and other Income relating to a particular activity category Is allocated directly. Other income received without restriction Is allocated in such a way to meet the costs not funded by restricted donatlons such that all costs are apportloned to the dlfferent activity categories In accordance with the accounting pollcles set. Re50ur¢es expended The policy for includlng items within the relevant activity categorie5 of resources expended is that all costs are allocated on a basis deslgned to reflect the use of the resource. Expenditure is recognised on an accruals basls once there Ss a legal or constructive obliEatlon to make payment to a third party, it Is probable that settlement will be requlred, and the amount of the obligation can be rellably measured. Expendlture includes any VAT whlch cannot be fully recovered and is reported as part of the expendlture to which It relates. 27 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Cost of ralslng funds Costs of ralslng funds comprise the costs associated with attractlng donatlons and the costs of tradlng for fundraislng purposes. Charitable actlvities Charities expenditure comprises those costs Incurred by the charity in the delivery of its activities and seNl¢es for its beneficiarles. It Include5 both costs that can be allocated directly to such activitles and those costs of an Indlrect nature necessary to support them. Allocatlon of ¢osts wlthln type5 of resources expended Cost5 relatlng to a particular activity are allocated directly. Support Costs are thosefunctions that asslst the work of the charlty but do not dlrectly undertake charitable activitles. Support costs include finance, personnel, Insurance and governance costs. Governance Costs Include those costs assoclated wlth meetlng the constitutlonal and statutory requirements of the charlty. All support costs are allocated between the activltv expenditure cate8ories on a basis deslgned to reflect the use of the resource. Support costs are apportioned on an approprlate basls eg. Floor area. per caplta or estlmated usa8e. Tanglble flxed assets Tangible fixed assets are Inltlally measured at C05t and subsequently measured at cost or valuatlon, net of depreciatlon and any impalrment losses. Depreclatlon Is recognlsed so as to wrlte off the cost or valuatlon of assets less thelr resldual values over thelr useful Ilves on the followln8 base5'. Freehold land and bulldlngs Fixtures, fittln8s &equipment Motor vehlcle 2% stralght Ilne 25%- 33% straight Ilne 25% stralght line The galn or loss arlslng on the dlsposal of an asset Is determlned as the dlfference between the sale proceeds and the carrying value of the asset and Is recognised in net income/lexpenditurel for the year. Impalrment of flxed assets At each reporting end date, the charlty revlews the carrying amounts of its tanglble assets to determlne whether there Is any indicatlon that those assets have suffered an impairment loss, If any such indlcatlon ex15ts, the recoverable amount of the asset Is estlmated In order to determine the extent of the impalrment loss lif any). Cash and cash equlvalents Cash and cash equlvalents Include cash In hand, deposlts held at call wlth banks, other 5hort-term Ilquld Investments with origlnal maturitles of three months or less, and bank overdrafts. Bank overdrafts are shown wlthin borrowings In current1Sabilities. 28 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal Instruments The charity has elected to apply the provision5 of Sectlon 11 'Baslc Flnanclal Instruments. and Sectlon 12 '0ther Flnancial Instruments15sues' of FRS 102 to all of its financial instruments. Financial Instruments are recognised in the charitvs balance Sheet when the charity becomes party to the contractual provlsions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there Is a legally enforceable right to set off the recognlsed amounts and there Is an Intention to Settle on a net basi5 or to reallse the asset and settle the liablllty slmultaneously. Baslc flnanclal assets Basic financial assets, whlch Include debtors and cash and bank balances, are inlt5ally measured at transactlon price includlng transactlon costs and are subsequently carried at amortlsed cost uslng the effective Interest method unle5S the arrangement constltutes a financing transactlon, where the transactlon Is measured at present value of the future receipts dlscounted at a market rate of Interest. Flnanclal assets classifled as recelvable wlthln one year are not amortised. Baslc flnanclal Ilabllltles Baslc financlal Ilabilitles, IncludSng creditors and bank loans are initially recognlsed at transactlon prlce unless the arrangement constltutes a flnancing transactlon, where the debt instrument Is measured at the present value of the future payments dlscounted at a market rate of Interest. Flnanclal Ilabllltles classlfled as payable wlthln one year are not amortlsed. Trade creditors are obligations to pay for goods or servlces that have been acqulred In the ordlnary course of operatlons from suppllers, Amounts payable are classlfied as current Ilabilities if payment Is due within one year or less, If not, they are presented as non-current Ilabllities. Trade creditors are recognised Inltlally as transaction prlce and subsequently measured at amortlsed cost uslng the effectlve Interest method. Derecognltlon ol flnanclal Ilabllltles Flnancial liabilities are derecognised when the charit¢s contractual obligatlons explre or are dlscharged or cancelled. Tamatlon As a reglstered charity, The Mustard Tree Is exempt from Income and corporatlon tax to the extent that Its Income and galns are appllcable to charitable purposes only. Value Added Tax Is recoverable in part In relatlon to costs dlrectly attributable to the sale of donated goods and a proportion of relevant overheads deemed attrlbutable to such activity. The non-recoverable element of VAT in relation to overheads and otherexpenditure Is included in the relevant costs in the statement of flnancial activlties. Its subsldiary, StandFlrm CIC, Is subject to corporatlon tax. StandFlrm 15 reglstered for VAT and thus charges VAT on Its sales and is able to recover VAT on Its purchases and expenses. All figures withln Its accounts are stated net of VAT. Employee beneflts The cost of any unused holiday entitlement Is recognised In the period In which the employee's services are recelved. Terminatlon benefits are recognlsed immediately a5 an expense when the charity is demonstrably committed to terminate the employment of an employee or to provlde termination benefits. 29 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Retirement beneflts Payments to defined contrlbution retirement benefit schemes are charged as an expense as they fall due. Leases Rentals payable under operatlng leases, Includln8 any lease incentlves recerved, are charged as an expense on a straight-line basis over the term of the relevant lease. Crltlcal accountlng estlmates and Judgements The preparation of the financial statements requires management to make judgements, estlmated and assumptions that affect the amounts reported. These estlmates and judgements are continually revlewed and are based on experlence and other factors, Includlng expectations of future events that are belleved to be reasonable under the clrcumstance5. Slgnificont judgements The Judgements (apart from those involvlng estimatlon5) that management has made in the process of applying the entity's accounting policies and that have the most slgnificant effect on the amounts recognlsed in the flnan¢lal statements are as follows: Determlnatlon of whether there are Indlcators of Impalrment on the group's tanglble flxed assets. Factors taken Into conslderatlon in reachlng such a decislon include the economlc vlabllity and expected future financlal performance of the asset. Key sources of estimotlon uncertalnty Accountlng estimates and assumptions are made concerning the future and, by thelr nature. will rarely equal the related actual outcome. Tangible assets are depreclated over thelr useful economic Ilves taklng Into account resldual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary dependlng on a number of factors. In re-asses51ng asset Ilves, factors such a5 technologlcal innovatlon and maintenance programmes are taken Into account. Resldual value assessments conslder Issues such as future market condltlon5, the remalnlng Ilfe of the asset and projected dlsposal value. 4. Donatlons and lega¢les Unrestrlcted funds general Restrlrted funds Total 2024 Donatlons and 8ifts Grants receivable for core actlvities 348,394 137,863 486,257 348,394 973.673 1.322,067 835.810 835,810 Unrestrlcted funds general Restrlrted funds Total 2023 Donatlons and gifts Grants recelvable for core activitles 277,195 277,195 1,255,415 1.532,610 1.255,415 1,255,415 277,195 30 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charltable actSvltles Unrestrlcted funds general Restrlcted fund5 Total 2024 Fundralsing Shop Income 186,967 486,968 673,936 186,967 486,968 673,936 Unrestrlcted funds 8eneral Restrlcted funds Total 2023 Fundralslng Shop Income 166.673 447,180 613,853 166,673 447,180 613,853 6. Investment Income Unrestrlcted funds general 2024 Unrestrlcted funds 8eneral 2023 Interest recelvable 1.333 1,333 875 875 7. Other Income Unrestrlcted funds general Restrlcted funds Total 2024 Rental Income Government grants Proflt on disposal of flxed assets 60,082 9,010 24,646 93,738 60,082 9,010 24,646 93,738 Unre5trlcted funds general Restrlcted funds Total 2023 Rental income 43,085 43,085 43,085 43,085 31 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendSture on ralsing funds Unrestrlcted Unrestrlcted funds fund5 general bulldlng Total 2024 Restrlcted Fundra151ng ondpublicity Staff costs Direct costs Support costs (see note 10) 88,566 30,887 41,485 160,938 88,566 30,887 42,561 165,064 4,126 4.126 Tradlng cost5 Operatlng charlty shops Standfirm: cost of sales Support costs15ee note 101 204,697 746 111,376 316.819 193,558 398,255 746 122,454 521,455 11,078 11,078 193,558 Total expendlture on ralslng funds 477,757 15,204 193,558 686,519 Unrestrlcted Unrestrlcted funds funds general bulldlng Total 2023 Restrlcted Fundrolslng and publlclty Staff costs Direct Costs Support costs (see note 10) 98,811 25.232 38,975 163,018 98,811 25,232 43,220 167,263 4.245 4,245 rradlng costs Operatlng charlty shops Standflrm.. c05t of sales Support costs (see note 10} 366,915 341,140 708,055 121.723 488,638 13,256 13,2S6 134,979 843.034 341,140 Total expenditure on ralsing funds 651,656 17,501 341,140 1,010,297 32 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9. Analysls of expendlture on ¢haritable artlvitles Support servltes & tralnlng Total 2024 Standflrm Staff cost5 Dlrect costs 946,821 275,S73 1,222.394 946,821 275,573 1.222,394 Support costs (see note 10} Governance costs (see note 101 354,726 16,554 371,280 354,726 16,554 371.280 Total expendlture on charltable activitles 1,593,674 1,593,674 Analysls byfund Unrestrlcted funds- general Unrestricted funds- bulldlng Restrlcted funds 899,560 33,036 661,078 1,593,674 899,560 33,036 661,078 1,593,674 Support servl¢es & tralnlng Total 2D23 5tandflrm Staff costs Dlrect costs 715,637 192,269 907.906 715,637 192,269 907,906 Support costs (see note 101 Governance costs (see note 101 305,201 13,915 319,116 305,201 13,915 319,116 Total expendlture on charltable actlvitles 1,227,022 1,227,022 Analy51s byfund Unrestricted funds- general Unrestrlcted funds- building Restricted funds 259,959 30,740 936,323 1,227,022 259,959 30,740 936,323 1,227,022 33 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysls of 5UPPOrt costs Support costs Governance costs Total 2024 Staff costs Business support costs Oepreclatlon Audit and accountancy 182,112 241,799 98,880 182,112 241,799 98,880 16,554 539,345 16,554 16.554 522,791 Analysed between Fundralslng Tradlng Charitable activlties 45.611 122,454 354,726 522,791 4S,611 122,454 371,280 539,345 16.554 16,544 Support costs Governance costs Total 2023 Staff costs Buslness 5UPPOrt costs Depreclatlon Audlt and accountancy 117,160 271,857 92,933 117,160 271,857 92,933 15,365 497,315 15,365 15,365 481,950 Anolysed between Fundralslng Trading Chaf Stable activltles 43,220 134,979 303,751 481,990 43,220 134,979 319,116 497,314 15.365 15,365 11. Audlt Fees: Amounts pald to audltors lexcludlng VAT) during the year are as follows: 2024 2023 Audlt fees Accountancy fees 13,980 2,574 16,554 11,615 2,300 13,915 12. Trustees remuneratlon and expenses No trustees, or any person connected with them. have received any remuneration from the charlty durlng the year. One trustee received travel expenses during the year of £169 {2023: £4141. 34 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Staff Costs Total staff costs were as follow$: 2024 2023 Wages and salaries Soclal securlty costs Penslon costs 1,213,381 111.539 28.026 1.352,946 1,116.213 98,858 25,135 1,240,206 Durlng the year no redundancy payments were made12023: £NIII. Number of employees The average number of employees durlng the year, calculated on the basls of full-time equivalent IFTEI and average headcount (HCI was as follows: 2024 FTE No 25 20Z4 HC 2023 FTE No 27 2023 HC No 28 Charltable actlvltles Fundraising actSvitles Tradlng activlties standfirm 26 18 18 12 12 46 47 44 45 There were no employees whose annual remuneratlon exceeded £60,000 Key Management personnel The key mana8ement personnel of the Charity comprlse the Trustees, Chlef Executlve Offlcer and the Secretary. The employee benefits of the key mana8ement personnel were £112,366 (2023.. £116,282). 14. Taxatlon Corporatlon tax Is payable In relatlon to the taxable surplus of StandFlrm CIC, In the current and precedlng years there have been no taxable surpluses and therefore no charge to Corporation Tax. These are tax losses avallable to carry forward of £15,191 (2023 - £15,191) 15. Net Movement In funds Net resources are stated after charging: 2024 2023 Auditors, remuneration Depreciation Operating lease rentals 16,554 98,879 6,100 13,915 92,933 6,100 35 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Flxed Assets Group Freehold land and buildings Flxtures, ffttlngs & equlpment Motor vehicles Total Cost At l Aprll 2023 Addltlons At 31 March 2024 2,412,025 238,785 92,945 331,730 64.926 24,646 89,572 2,715,736 117,591 2.833,327 2.412,025 Depre¢latlon At l April 2023 Depreclatlon charged In the year At 31 March 2024 239,477 48,240 287,717 174,629 44,539 219,168 54,251 6.100 60,351 468,357 98,879 567,236 Net book value At 31 March 2024 At 31 March 2023 2,124.308 2,172,548 112,562 64,156 29,221 10.675 2,266.091 2,247,379 Charlty Freehold land and bulldln8S Flxtures, flttln8s & equlpment Motor vehlcles Total At l Aprll 2023 Additlons At 31 March 2024 2,412,025 227,028 92,945 319,974 50.609 2,689,662 24,646 92,945 75,255 2,807,253 2,412,025 Depreclatlon At l April 2023 Depreclatlon charged In the year At 31 March 2024 239,477 48,240 287,716 162,872 44,539 207,411 39,934 6,100 46.034 442,283 98.880 541,162 Carrylng amount At 31 March 2024 At 31 March 2023 2,124,307 2,172.548 112,563 64,156 29,221 2,266,091 10,675 2,247,379 36 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Debtors Group 2024 Group 2023 Charltv 2024 Charlty 2023 Amounts falllng due wlthln one year Trade debtors Amounts due from subsidiary undertakings Other taxatlon and 50clal securlty Other debtors Prepayments and accrued Income 60,190 107,071 60,190 107,071 32,487 10,714 6,667 133,632 290,571 7,866 6,449 83,678 158,183 11,881 6,667 133.632 259,251 7,866 6,449 83,678 158,183 18. Credltors: amounts fallln8 due wlthln one year Group 2024 Group 2023 Charlty 2024 Charltv 2023 Bank loan Trade credltors Deferred Income Other credltors Accruals 32,031 109,683 72,133 24,004 29,590 267,441 32,031 109.683 6,074 24,004 29,590 267,441 85,978 258,546 16,441 31,836 392,801 85,700 258,546 16,441 31,836 392,523 Delerred Income above comprlses of: 2024 2023 Balance at l Aprll Amount deferred In the year Amount released to Incomln8 resources Balance at 31 March 258,546 66,059 252.472 72,133 219,227 225,399 1186,0801 258,546 Deferred Income Is made up of: Income received In advance 72,133 254,456 19. Credltors: amounts fallln8 due afterone year Group 2024 Group 2023 Charlty Z024 Charltv 2023 Bank loan 185,372 185,372 185,372 185,372 20. Retlrement beneflt schemes The charity operates a deflned contribution pension scheme for all qualifylng employees. The assets of the scherne are held separately from those of the charity in an independently administered fund, At the year-end contrlbutions payable to the scheme totalled £21,94412023'. £15,540). 37 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Statement of funds Group l April 2023 Incoming Resources Resources Expended 31 March 2024 Unrestrlcted fund5: General unrestricted funds Bullding unrestricted funds 196,770 1,255,264 2,151,413 2,348,183 1,255.264 35,869 835,810 2,384,052 2,091,074 (1,377,317) 74,717 148.240) 2,103,173 {1,425,5571 2,177,890 1854,636) 17,043 12,280,193) 2.194,933 Restrlcted Income funds l Aprll 2022 Incomlng Resources Resources Expended 31 March 2023 Unrestrlcted funds: General unrestrlcted funds Bullding unrestricted funds 173.377 2.199,654 2,373,031 935,008 57,917 1.255,415 2,430,948 2,190,423 935,008 1911,6151 196,770 148,2411 2.151,413 1959,856) 2,348,183 11,277,463) 35,869 (2.237,3191 2,384,052 Restrlcted Income funds Charlty l Aprll 2023 Incomlng Resources Resources Expended 31 March 2024 Unrestrlcted funds: General unrestricted funds Bulldln8 unrestrlcted funds 220,670 2,151,413 2,372,083 35.869 2,407,952 1,255,264 11,377,317> 148,2401 1,255.264 11,425,557) 835,810 854.6361 2,091,074 12.280,1931 74,717 2,103,173 2,177.890 17,043 2,194,933 Restrlcted Income funds l Aprll 2022 Incomlng Resources Resources Expended 31 March 2023 Unrestrlcted funds: General unrestrlcted funds Bullding unrestricted funds 197,277 2,199,654 2,396,931 57,917 2,454,848 935,008 {911,6151 148.241) 935.008 1959,8561 1,255,415 11,277,463> 2,190,423 12,237,319) 220,670 2,151,413 2,372.083 35,869 2,407.952 Restrlcted Income funds Analysls of Restrlcted Income Funds 31 March 2024 31 March 2023 Albert Gubay- development of Little Hulton Clothworkers- purchase of motor van 12.468 4,575 17.043 25,194 10,675 35,869 38 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Analysis of net a55ets between funds Unrestricted Unre5trl¢ted funds funds General Bulldin£ Restricted funds Total 2024 Tangible assets Net current Illabllltles) Long term liabllltles 157,496 114,214 {185.3721 86,338 2,104,020 4,575 2,266,091 114,214 1185,3721 4,575 2,194,933 2,104,020 Unrestrlcted Unrestrlcted funds funds General Bulldlng Restrlcted funds Total 2023 Tanglble assets Net current assets 60,097 136,673 196,770 2,151,413 35,869 2,247,379 136,673 35,869 2,384,052 2,151,413 23. Unrestrlcted funds- bulldlng These are unrestrlcted funds whlch are materlal to the charlty's actlvltles made up as follows: The unrestrlcted fund - bulldln8 represents amounts expended on The 858 Rebulld Project, less depreclatlon charged to date. 24. Wlndln8 up or dlssolutlon of the charltv If upon wlndlng up or dlssolutlon of the charlty there remain any assets, after the satisfactlon of all debts and Ilabllltles, the assets represented by the accumulated fund shall be transferred to some other charltable body or bodles havlng slmllar oblerts to the charlty. 25. Operatlng lease commltments At the reportlng end date, the charity had outstanding commitments for future mlnlmum lease payments under non-cancellable operatln8 leases, whlch fall due as follows: 2024 2023 Wlthin one year Between two and flve years 1,872 2,321 4,193 2,616 4.098 6,714 26. Related party transactlons Durlng the year, donations were recelved from trustees totalling £49,264 {2023: £45,292). There were no other related party transactions. 39 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 27. Subsldlarles Detalls of the charitVs subsldlarles at 31 March 2024 are as follow5: Name of undertaklng StandFirm CIC Reglstered ofll¢e Nature of buslness Class of shares held Limited bv guarantee % Held dlre¢t England & Wales Dormant loo% During the previous year the company ceased to trade during the year and is non-trading. Its Company Number Is 07500328 and the registered offlce Is 110 Oldham Road, Ancoats, Manchester, M4 6AG. 28. Results of the charltable Companv The company has taken advantage of Sectlon 408 of the Companles Act 2006 and not included its own Income and expendlture account in these financial statements. The net outgoing resources of the Company for the year were £213,01912023 outgolng resources £46,896). 29. Analysls of changes In net debt l Aprll 2023 31 March 2024 Cashflows Group and chailty Cash at bank Bank overdraft 270,223 (46,751) 223,472 270,223 146,7511 223,472 Debt due wlthln one year Loans (32.021) 32,0311 132,0211 32,021 Debt due In greater than one year Loans {185,3721 1185,3721 {185,3721 1185,372) Total 270,223 1264,153) 6,070 l Aprfl 2022 31 March 2023 Cashflows Group Cash at bank 4(J),670 {130,447) 270,223 Charltv Cash at bank 392.913 1130,388) 262,525 40 THE MUSTARD TREE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 30. Prlor year Statement of Flnanclal Actlvltles Unrestrlcted Unrestricted Funds Funds General Building 2023 2023 Restricted Funds 2023 Total Funds 2023 Income and endowments: Donations and legacies Charltable actlvities Investment income Other Income Total Incomlng resources 277.195 613,853 875 43,085 935,008 1,255,415 1,532,610 613,853 875 43,085 2,190,423 1,255,415 Expendlture on: Ralslng funds Fundralslng and publicity Tradlng costs 163.018 488,638 651.656 4,245 13.256 17,501 167,263 843,034 1,010,297 341,140 341,140 Charltable actlvitles Progresslon standFlrm 259,959 30,740 936,323 1,227,022 259,959 30,740 936,323 1,227,022 Total resources expended 911,615 48,241 1,277.463 2,237.319 Net Income / lexpendlture) for the year 23,393 148,241} (22,0481 146,8961 Reconclllatlon of funds: Total funds brought forward Total funds Carrled forward 173.377 196.770 2,199,654 2,151,413 57,917 35,869 2,430.948 2.384.052 41