RESTORE (YORK) LIMITED (a company limited by guarantee)
Annual Report and Financial Statements for the year ended 31 December 2024 UNAUDITED
Company number 07456780 Charity number 1143678
RESTORE (YORK) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Contents | Pages |
|---|---|
| Directors’ and trustees’ annual report | 3 – 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes forming part of the financial statements | 12 – 20 |
| Independent examiner’s report | 21 |
| Additional information | 22 |
RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees (who are also the Directors of the Charity for company law purposes, and whose details are shown in the reference and administrative section of this report) are pleased to present their annual report together with the financial statements of the Charity for the year ended 31 December 2024. Restore (York) Limited is referred to throughout this report as “the Charity” or “the Charitable Company”.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Charity is a public benefit entity.
Objectives and Activities
Purpose and aims
Restore (York) Ltd is a successful Charity working to relieve homelessness and to provide support and mentoring for vulnerable people in the city of York.
Our Charity’s purposes as set out in the objects contained in the company’s Memorandum of Association are, as an expression of Christian faith, to provide:
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Homes for people in York who are homeless or at risk thereof; and
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Mentoring, counselling, advisory and welfare services and personal development opportunities for such persons.
The Charity was formed with the idea that it would expand its work until it had helped to eradicate homelessness in York. We aim to provide homes without prejudice or favour.
Our vision is for a York where everybody has a home, where those who have been homeless before are rebuilding their lives, and where the city works together to beat the underlying causes of homelessness.
The Trustees believe they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit.
Our residents
Potential residents are referred to us by the City of York Single Access Point. Each person is interviewed and if they are suitable for accommodation with us their application is put into an allocations pool awaiting a suitable vacancy. Where possible the applicant is also given an estimate of when we hope to house them. A support plan is drawn up with them when they move in, and they have regular visits from our staff.
What is special about Restore is that we are not offering people temporary shelter or short-term accommodation. We are offering them a home. Restore isn’t just about putting a roof over someone’s head. The hard work starts in the days and weeks after someone has moved into their new home. We strive to provide an environment which helps people make positive changes to their lives and the support to make those changes last. Sometimes this is a slow process and requires great patience, but it is always encouraging to see people beginning to enjoy a brighter future.
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RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Objectives and Activities – continued
When a resident is ready to move on into their own rental accommodation, Restore continues to provide floating support for up to six months to ensure the resident has everything they need for sustainable independent living in their local community.
In addition, Restore provides two houses for refugee families. One is in partnership with York Welcomes, who provide most of the social support for the residents.
Since the inception of Restore we have provided accommodation and support to more than 400 people who would otherwise have been homeless.
Our properties
At the end of the reporting period, we provided accommodation for forty-seven people in fourteen properties across the city. Ten of these properties are houses in multiple occupancy which house single people, and two are self-contained apartments to support individuals where shared accommodation is less suitable for their special needs. These twelve properties all offer supported accommodation.
In addition, we have two properties to house refugee families.
Our ethos
We are a Charity based on faith and closely linked to several churches in York. The guidance of Christian friends and personal faith provided the initial spark that brought the board of Trustees together. In the future, as we expand, it will be based on faith, good practice, efficient management, and generosity.
Achievements and Performance
2024 began with a major staff reorganisation following consultation with staff and Trustees. The Charity’s operational service is now led by a Service Manager overseeing a Maintenance Manager, Fundraising and Supporter Engagement Manager and a Senior Housing Support Worker. The new structure will allow expansion into the future as well as more efficiently managing the operations of the Charity and the support of our residents. All of this was achieved within existing budgets through the closing of the Chief Executive post in 2023.
Throughout the year we maintained a high level of success with our residents, 91% of whom moved on successfully from their Restore residency.
Our service was endorsed by City of York Council in a report from the council’s Housing Services to the Executive describing the provision for people experiencing homelessness:
“This is also supplemented by charitable provision by Restore who provide a further 41 beds of uncontracted, shared accommodation in 10 properties, at zero cost to the council. The service provided has proven highly effective at supporting individuals and getting them to the point where they can move on into self-contained accommodation”.
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RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and Performance – continued
In 2024 we introduced a series of Community Hubs to provide supervised places for our residents and former residents to meet regularly with peers and with purpose. We sourced funding and appointed a part time Hubs Coordinator to manage these events and to recruit volunteers form among our current and former residents to develop their skills and their confidence to be mentors to new residents. During the year we held the following weekly hubs in church premises around the city; Monday - Wellbeing, Tuesday – Creative, Wednesday – Drop In, Friday – Social. These are an important part of the support we provide.
When a resident moves on from Restore, they are supported for a further 6 months by a floating support worker to help them with the transition into their own accommodation.
Principal funding sources
The Charity’s primary source of income is rental income received from its residents. Due to our residents’ circumstances, most of this is received directly from the City of York Council in the form of housing benefit, though residents are required to pay a small top-up and a contribution towards the cost of utilities. Residents in paid employment pay rent directly to us as they qualify for a reduced rate of housing benefit or possibly none.
The Charity is also grateful for the generosity of individuals, churches, and other organisations who have and continue to contribute significant amounts of time and money to enable the vision of the trustees to be turned into a reality. Thanks go particularly to those givers who have pledged regular monthly donations.
The Charity is registered as such for tax purposes. This enables us to take part in the Gift Aid scheme thus increasing giving by 25% for basic rate taxpayers. Many of our existing donors have already signed up for this scheme.
Restore received grants from twenty grant funders. The grants were for a range of purposes: staff salaries, the resident engagement programme, property furnishing, maintenance tools, and disabled toilet fittings.
Exempt accommodation status
As our residents are provided with supported housing, we are recognised by the City of York Council as a provider of ‘exempt’ accommodation. This means that housing benefit is increased to a higher level to cover some of the additional costs of providing accommodation to residents who need additional support. The total rental income received, including residents' top-up, therefore covers not only the cost of our head-lease but also many of our other property specific costs such as repairs & maintenance and depreciation of fixed assets. This enables us to use most of the donations we receive to cover the cost of providing other support to our residents and to fund the work needed to get additional properties ready for new residents.
The Supported Housing (Regulated Oversight) Bill 2022-23 will strengthen the regulations around the provision of exempt housing. We are confident that our current exempt property management governance is strong and will meet any new standards.
5
RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review and plans for future periods
Financial review
Income decreased by 28% during the year to £701,331 (2023 - £973,383), and expenditure increased by 3% to £611,898 (2023 - £593,008). This resulted in net income of £89,433 (2023 - £380,375 surplus).
Donations and legacies decreased during the year by £279,039, and income from charitable activities decreased by £1,108. Expenditure on charitable activities increased overall by £13,320.
At the end of March 2024 our unrestricted reserves stood at around 9 months of typical expenditure.
The decrease in income and net income compared to the prior year is due to a one-off grant received in the previous year from a new major donor to support the purchase of a property, which is not repeated in the current year.
Income Sources:
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The housing benefit we receive through the city council has remained secure.
-
The medium-term outlook for income from grants and trusts remains less predictable, due to wider economic uncertainty.
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Regular donations have not shown any reduction since last year. The Board will continue to monitor this situation.
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The purchase of the Camaron property in 2023 generated a new revenue stream, and a charity asset to strengthen Restore’s balance sheet.
Expenses:
- In the event of a short-term lack of funds, some spending on property maintenance could be delayed to aid cash-flow.
Resident engagement
We continue to improve the level of resident engagement by partnering with organisations across the city that provide residents with opportunities to engage in a range of educational, therapeutic, and social activities designed to enhance their life skills and employment opportunities. Much of this work has been funded through successful grant applications.
Staff
At the end of the reporting period the Charity employed a Service Manager, a Maintenance Manager, A part-time Fundraising and Supporter Engagement Manager, a Senior Housing Support Worker and five Housing Support Workers, an Administrator, a Cleaner, a part-time Marketing & Events Officer, and a part-time Fundraising Officer: a total of twelve people, six of them part-time. A part-time Maintenance Assistant has also been employed in 2025.
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RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review and plans for future periods – continued
Fundraising
One-off fundraising events have continued to strengthen our supporter engagement as well as raise valuable funds for the Charity. A part-time Fundraising and Supporter Engagement Manager was employed to manage the existing fundraising, events, and publicity team but with a wider remit to find:
-
New sources of funding.
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Increase the number of supporters making regular donations.
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Create events to attract new high value donors.
During 2024, speakers from the staff and Trustees have made presentations to a larger number of churches and organisations using a new promotional video.
Plans for future periods
Restore is holding funding to open three more properties including the cost of support staff for the people who will be living in them for a period of six years. Finding suitable properties proved difficult in 2024 but we continue to search for suitable houses to employ the funding held for this purpose.
During 2025 we are planning a number of fundraising events to celebrate the success of the Charity in its first 15 years of operations.
A facilitated strategy event was held in March 2025, involving Trustees and senior staff, to identify opportunities to expand the service over the next three years. The outcome of this event is currently being processed to be presented to staff and Trustees to create a programme of expansion. Alongside this, a three-year fundraising strategy has been written by the Fundraising and Supporter Engagement Manager and approved by the Trustees.
A new website is about to be launched along with new logo and colourful graphic properties to catch the eye of existing and new supporters. The former logo had been in use for 15 years and had become tired. A refresh is due.
Structure, Governance and Management
Governing document
Restore is a Charitable Company limited by guarantee, incorporated in December 2010 and registered as a Charity in September 2011. The Charitable Company was established under a Memorandum of Association which established the objects and powers of the Charitable Company and is governed by its Articles of Association.
In the event of the Charity being wound up its members are each required to contribute an amount not exceeding £10.
Operational Governance
Restore has a rigorous work plan to review and upgrade all its workplace policies. Sixteen policies were either rewritten or upgraded during 2024.
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RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, Governance and Management – continued
Recruitment and appointment of Trustees
The Directors of the Charitable Company are also Trustees of the Charity and together form the board. The members of the board are chosen for the skills they bring and their experience or empathy for the objectives of the Charity. We can also co-opt members who bring certain skills to the Charity or invite people on an advisory basis to meetings when issues outside of the scope of the board are being discussed. Members of the board are appointed for their skills and support for the Christian ethos of the Charity and are usually members of local churches or Christian organisations. There was one new appointment in 2024 and another in 2025.
All Trustees give their time voluntarily and received no benefits from the Charity during the financial year.
Risk management
The Trustees regularly review the major risks to which the charity is exposed. Procedures have been established to manage those risks.
Reserves policy
The Trustees have set a target of holding 3 - 4 months of regular expenditure as a reserve in unrestricted funds.
Reference and administrative information
Charity name Restore (York) Limited Charity registration number 1143678 Company registration number 07456780 Registered office & The Flat principal business premises Gateway Centre Front Street Acomb YORK YO24 3BZ
Trustees
Benjamin John Spedding (Treasurer) Barrie Stephenson (Chair from March 2024) Marjorie Jane Lewis (Chair until March 2024, resigned 16 May 2024) Penelope Mary Hutchinson Gavin Aitchison Laura Chalmers Rev. Nicole Gladstone (Resigned 17 January 2024) Daniel Joseph Wheeler (Appointed 14 January 2025) Charles Philip Welsford Walters (Appointed 24 February 2025)
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RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, Governance and Management - continued
Bankers
Co-operative Bank
PO Box 250 Delf House Southway SKELMERSDALE WN8 6WT
Independent examiner
Sarah Wearing, FCA, DChA
HPH, Chartered Accountants 54 Bootham YORK YO30 7XZ
Directors’ and Trustees’ responsibilities in relation to the financial statements
Company law requires the Directors/Trustees to prepare financial statements that give a true and fair view of the state of affairs of the Charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Make sound judgements and estimates that are reasonable and prudent; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Directors/Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and enables them to ensure that the financial statements comply with the Companies Act 2006 and applicable charity law. The Directors/Trustees 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.
Exemption
This report has been prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies.
Approved by the Board of Trustees on 1 August 2025 and signed on its behalf by:
Barrie Stephenson, chair
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RESTORE (YORK) LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted Funds Notes £ Income Donations and legacies 2 167,223 Income from charitable activities 3 397,356 Income from other activities 14,598 Total income 579,177 Expenditure Charitable activities 4 503,935 Costs of generating funds 5 - Total expenditure 503,935 Net (expenditure)/income 75,242 Transfers between funds - Net movement in funds 75,242 Reconciliation of funds Total funds brought forward 421,521 Total funds carried forward 496,763 |
Restricted Funds £ 122,154 - - 122,154 76,722 31,241 107,963 14,191 - 14,191 159,792 173,983 |
2024 2023 £ £ 289,377 568,416 397,356 398,464 14,598 6,503 701,331 973,383 580,657 567,337 31,241 25,671 611,898 593,008 89,433 380,375 - - 89,433 380,375 581,313 200,938 670,746 581,313 Total Funds |
2024 2023 £ £ 289,377 568,416 397,356 398,464 14,598 6,503 701,331 973,383 580,657 567,337 31,241 25,671 611,898 593,008 89,433 380,375 - - 89,433 380,375 581,313 200,938 670,746 581,313 Total Funds |
|---|---|---|---|
| 973,383 | |||
| 567,337 25,671 |
|||
| 593,008 | |||
| 380,375 - |
|||
| 380,375 | |||
| 200,938 | |||
| 581,313 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 12 to 20 form part of these financial statements.
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RESTORE (YORK) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 Company Number: 07456780
| Notes Fixed Assets Tangible fixed assets 10 Current Assets Debtors 11 Cash at bank Total Current Assets Creditors :Amounts falling due within one year 12 Net Current Assets Net Assets The funds of the charity: Unrestricted income funds 15 Restricted income funds 15 |
2024 £ 22,706 402,601 425,307 (1,452) |
2024 £ 246,891 423,855 670,746 496,763 173,983 670,746 |
2023 £ 17,111 313,202 330,313 (1,836) |
2023 £ 252,836 328,477 |
|---|---|---|---|---|
| 581,313 | ||||
| 421,521 159,792 |
||||
| 581,313 |
For the year ended 31 December 2024, the Charitable Company was entitled to exemption from an audit under section 477 of the Companies Act 2006.
The members have not required the Charitable Company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with section 476 of the Act.
The Directors/Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Board of Trustees on 1 August 2025 and signed on its behalf by:
………………………………
Benjamin Spedding, treasurer
The notes on pages 12 to 20 form part of these financial statements.
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
(a) General information
The Charitable Company is a private company limited by guarantee, which is incorporated and registered in England and Wales (no. 07456780).
The address of its registered office is The Gateway Centre, Front Street, Acomb, YORK, YO24 3BZ.
(b) Basis of accounting
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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Restore (York) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
(c) Preparation of the financial statements on a going concern basis
The Charity has cash resources and has no requirement for external funding. The Directors and Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the financial statements.
(d) Income recognition
Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Voluntary income received by way of donations and gifts is included in full in the Statement of Financial Activities when receivable.
Rental income and resident service charges are included in full in the Statement of Financial Activities when receivable.
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
(e) Donated services and facilities
Donated professional services and donated facilities are recognised as income when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised, reference to the Trustees’ Annual Report provides more information about their contribution.
On receipt, donated professional services and donated facilities are recognised at the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
(f) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity including the costs of the independent examination of these financial statements.
(g) Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
(h) Tangible fixed assets and depreciation
Fixed assets are stated at cost less accumulated depreciation. All fixed assets are capitalised regardless of their cost. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which is estimated at three years, except for buildings which have an estimated useful life of 50 years.
Fixed assets given for use by the Charity are recognised within the relevant fixed asset category when receivable. Such gifts in kind are initially recognised at their fair value being the price that the Charity estimates it would have had to pay in the open market for an equivalent item. They are subsequently depreciated in a manner consistent with other fixed assets.
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
(i) Operating leases
All leasehold properties are held under operating leases. The relevant annual rentals are charged wholly to the income and expenditure account.
(j) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(k) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(l) Creditors and provisions
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(m) Financial instruments
The Charitable Company only has financial assets and financial 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.
2. Income from donations and legacies
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash | 277,398 | 559,820 |
| Gift aid | 11,979 | 8,596 |
| Total | 289,377 | 568,416 |
Total donations and legacies of £289,377 (2023: £568,416) included £167,223 (2023: £133,542) that related to unrestricted funds and £122,154 (2023: £434,874) that related to restricted funds.
Restricted funds received in the year consisted of £18,000 from Awards For All, £26,000 from Henry Smith, £7,000 from Albert Hunt Trust, £3,000 from Charles and Elsie Sykes, £3,000 from Jane Wright, £500 from Norman Collinson, £5,009 from Beatrice Laing, £802 from Moving on Fund, £76 from Engagement Funding, £9,418 from Camaron, £2,000 from George A Moor, £176 from Screwfix, £750 from York Common Good Trust, £15,000 from Albert Gubay, £1,498 from CYC Ward Funding, £9,573 from Danesfort, £7,352 from Hobson, £5,000 from The Lancaster Foundation, £1,000 from Tesco One Stop, and £7,000 from The Police Community Fund.
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. Income from charitable activities
Rental income and resident service charges
| 2024 | 2023 |
|---|---|
| £ | £ |
| 397,356 | 398,464 |
All income from charitable activities related to unrestricted funds in both accounting years.
4. Total expenditure on charitable activities
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Staff costs | 196,570 | 33,583 | 230,153 | 250,995 |
| Rent of properties | 134,712 | - | 134,712 | 136,817 |
| Utilities | 34,430 | - | 34,430 | 37,881 |
| Depreciation | 14,411 | - | 14,411 | 12,810 |
| Repairs & maintenance | 68,718 | - | 68,718 | 42,887 |
| Council tax | 16,543 | - | 16,543 | 19,216 |
| Rent of office space | 6,900 | - | 6,900 | 6,625 |
| Motor expenses | 6,250 | - | 6,250 | 5,526 |
| Insurance | 3,694 | - | 3,694 | 2,435 |
| Governance costs | 1,452 | - | 1,452 | 1,266 |
| Consultancy & legal costs | 2,091 | - | 2,091 | 3,166 |
| Miscellaneous costs | 18,164 | 43,139 | 61,303 | 47,713 |
| Total | 503,935 | 76,722 | 580,657 | 567,337 |
£75,578 of expenditure on charitable activities related to restricted funds in 2023.
Governance costs included in the above total expenditure are made up as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fee for independent examination | 726 | 633 |
| Accountancy | 726 | 633 |
| Total governance costs | 1,452 | 1,266 |
| Total costs of generating funds | ||
| 2024 | 2023 | |
| £ | £ | |
| Staff costs | 31,241 | 25,671 |
5. Total costs of generating funds
Total costs of generating funds of £31,241 (2023: £25,671) related to restricted funds.
6. Net income/(expenditure) for the year
This is stated after charging:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 134,712 | 136,817 |
| Depreciation | 14,411 | 12,810 |
| Fee for independent examination | 726 | 633 |
| Accountancy services | 726 | 633 |
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. Staff costs and emoluments
| Staff costs and emoluments | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Salaries and wages | 240,451 | 255,540 |
| Employers national insurance contributions | 13,508 | 14,220 |
| Pension contributions | 5,568 | 4,741 |
| Fees | 1,867 | 2,165 |
| 261,394 | 276,666 |
No employee received emoluments of more than £60,000 (2023 - None).
The average number of staff employed during the year was 12 (2023 - 12).
Since 1 June 2016, the Charity has operated an ‘auto enrolment’ pension scheme. This defined contribution scheme is available to all employees.
The key management personnel of the Charitable Company comprise solely the Trustees; there were no employed key management personnel (2023 - None).
8. Trustee remuneration & related party transactions
No Trustees received any remuneration or had any travel costs reimbursed during the year (2023 - None).
During the year a total of £6,818 was donated to the Charitable Company by the Directors/Trustees (2023 - £6,708).
During the year a total of £1,200 was paid to a Trustee as rent for the use of a property in Acomb, York (2023 - £1,100).
There were no other related party transactions to disclose.
9. Taxation
As a charity, Restore (York) Limited is exempt from tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
10. Tangible fixed assets
| Cost Brought forward 1 January 2024 Additions Disposals At 31 December 2024 Accumulated depreciation Brought forward 1 January 2024 Charge for year Disposals At 31 December 2024 Net book value Net book value brought forward |
Freehold Property £ 242,684 - - 242,684 2,427 4,854 - 7,281 235,403 240,257 |
Motor Vehicles £ 3,825 - - 3,825 2,551 1,274 - 3,825 - 1,274 |
Office equipment £ 17,229 1,646 - 18,875 13,334 2,002 - 15,336 3,539 3,895 |
Furniture £ 61,810 6,820 - 68,630 54,400 6,281 - 60,681 7,949 7,410 |
Total £ 325,548 8,466 - |
|---|---|---|---|---|---|
| 334,014 72,712 14,411 - |
|||||
| 87,123 246,891 252,836 |
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11. Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Trade debtors - Rent & resident service charges receivable | 8,731 | 6,831 |
| Accrued income - Gift Aid | 11,979 | 8,596 |
| Other debtors and prepayments | 1,996 | 1,684 |
| Total | 22,706 | 17,111 |
| All debtors related to unrestricted funds in both accounting years. | ||
| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Trade creditors | - | 450 |
| Accruals and other creditors | 1,452 | 1,386 |
| Total | 1,452 | 1,836 |
12. Creditors: amounts falling due within one year
All creditors related to unrestricted funds in both accounting years.
13. Leasing commitments
The minimum annual leases payments to which the company was committed under non-cancellable operating leases as at the year-end were as follows:
| On property leases expiring in less than one year On property leases expiring between one and five years Analysis of net assets between funds General funds £ Tangible fixed assets - Current assets 251,324 Current liabilities (1,452) Net assets at 31 December 2024 249,872 Comparative year General funds £ Tangible fixed assets - Current assets 170,521 Current liabilities (1,836) Net assets at 31 December 2023 168,685 |
Designated funds £ 246,891 - - 246,891 Designated funds £ 252,836 - - 252,836 |
2024 £ 28,856 471,552 500,408 Restricted funds £ - 173,983 - 173,983 Restricted funds £ - 159,792 - 159,792 |
2023 £ 6,000 310,228 316,228 Total funds £ 246,891 425,307 (1,452) |
|---|---|---|---|
| 670,746 Total funds £ 252,836 330,313 (1,836) |
|||
| 581,313 |
14. Analysis of net assets between funds
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
15. Movement in funds
| Movement in funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General funds Designated funds Restricted funds Engagement activities Staffing Moving on costs Furnish properties Property purchase Clothing Bicycles and bike safety Charity's allotment Property set up costs Total funds (2024) |
Brought forward £ 168,685 252,836 421,521 25,454 130,114 596 (185) 3,813 - - - - 159,792 581,313 |
Income £ 579,177 - 579,177 44,426 70,741 802 5,185 - 1,000 - - - 122,154 701,331 |
Expenditure £ (489,524) (14,411) (503,935) (39,764) (64,824) (1,343) (1,532) - (500) - - - (107,963) (611,898) |
Transfers £ (8,466) 8,466 - - - - - - - - - - - - |
At 31 Dec 2024 £ 249,872 246,891 |
| 496,763 30,116 136,031 55 3,468 3,813 500 - - - |
|||||
| 173,983 670,746 |
The transfers in the year represent some general funds being released to designated funds where the income funded the purchase of fixed asset additions in the year.
Designated funds
The only designated fund is the fixed assets fund, which is used to track the value of assets in the Charity.
Restricted funds
Engagement activities: Funding received from The Albert Hunt Trust, The Charles and Elsie Sykes Fund, Jane Wright, Norman Collinson, Engagement Funding, Albert Gubay, CYC Ward Funding, Hobson, and The Police Community Fund.
Staffing: Funding received from The Awards For All Fund, The Henry Smith Fund, Camaron, George A Moor, The York Common Good Trust, Danesfort, and The Lancaster Foundation.
Moving on costs: Money received from The Moving on Fund for moving on costs.
Furnish properties: Funds received from Beatrice Laing to help furnish properties and Screwfix for disabled bath equipment.
Clothing: Funding received from Tesco One Stop for clothes and toiletries.
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
15. Movement in funds (continued) Comparative year
| Movement in funds (continued) Comparative year |
|||||
|---|---|---|---|---|---|
| Unrestricted funds General funds Designated funds Restricted funds Engagement activities Staffing Moving on costs Furnish properties Property purchase Bicycles and bike safety Charity's allotment Property set up costs Total funds (2023) |
Brought forward £ 117,228 14,859 132,087 14,424 14,900 2,291 2,507 31,776 2,850 90 13 68,851 200,938 |
Income £ 538,509 - 538,509 50,366 150,530 793 5,067 218,118 - - 10,000 434,874 973,383 |
Expenditure £ (478,949) (12,810) (491,759) (39,336) (35,316) (2,488) (7,759) (3,397) (2,850) (90) (10,013) (101,249) (593,008) |
Transfers £ (8,103) 250,787 242,684 - - - - (242,684) - - - (242,684) - |
At 31 Dec 2023 £ 168,685 252,836 |
| 421,521 25,454 130,114 596 (185) 3,813 - - - |
|||||
| 159,792 581,313 |
The transfers in the year represent restricted funds and some general funds being released to designated funds where the income funded the purchase of fixed assets in the year.
Designated funds
The only designated fund is the fixed assets fund, which is used to track the value of assets in the Charity.
Restricted funds
Engagement activities: Funding received from The Albert Hunt Trust, The Feoffees Fund, The Holbeck Trust Fund, The Charles and Elsie Sykes Fund, Arlish and Chambers, Colliers, The Dispensary Fund, Hillards, Jane Wright, Norman Collinson, Two Ridings Foundation, The Souter Trust, Engagement Funding, The Bishop Radford Trust, Belfrey, The Gannett Foundation, The "B" Trust, The Fitton Trust Fund, The Green Pastures Fund, Hedley, Purey Cust, and St Vincent de Paul.
Staffing: Funding received from L & T Bramall, The Orange Tree Trust, 29 May 1961 Foundation, George A Moor, W L Pratt, The York Common Good Trust, The Henry Smith Fund, and Foodbank.
Moving on costs: Money received from Pebbles for tier 3 move on and The Moving on Fund for moving on costs.
Furnish properties: Funds received from Beatrice Laing to help furnish properties and Screwfix for disabled bath equipment.
Property purchase: Funds received from Camaron for the purchase of a new property.
Bicycles and bike safety: Money received from the National Lottery used for bicycles and bike safety.
Charity's allotment: Funding received from The Tesco Groundwork Fund for the charity's allotment.
Property set up costs: Funding received from the Awards For All Fund to cover the setting-up costs of new properties and improvements to the Restore office.
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RESTORE (YORK) LIMITED NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
16. Comparative Statement of Financial Activities
| Income Donations and legacies Income from charitable activities Income from other activities Total income Expenditure Charitable activities Costs of generating funds Total expenditure Net (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 133,542 398,464 6,503 538,509 491,759 - 491,759 46,750 242,684 289,434 132,087 421,521 |
Restricted Funds £ 434,874 - - 434,874 75,578 25,671 101,249 333,625 (242,684) 90,941 68,851 159,792 |
2023 568,416 398,464 6,503 973,383 567,337 25,671 593,008 380,375 - 380,375 200,938 581,313 Total |
2022 189,248 367,929 908 Funds |
|---|---|---|---|---|
| 558,085 | ||||
| 508,449 14,559 |
||||
| 523,008 | ||||
| 35,077 - |
||||
| 35,077 | ||||
| 165,861 | ||||
| 200,938 |
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RESTORE (YORK) LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner's Report to the Trustees of Restore (York) Limited
I report to the Charity Trustees on my examination of the accounts of the Charitable Company for the year ended 31 December 2024.
This report is made solely to the Charitable Company’s Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the Charitable Company’s Trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the Charitable Company’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the Charitable Company’s Trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the Charity’s 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 Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting 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
-
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 (FRS102).
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.
Sarah Wearing, FCA, DChA HPH, Chartered Accountants, 54 Bootham, YORK, YO30 7XZ 1 August 2025
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RESTORE (YORK) LIMITED ADDITIONAL INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024
Additional Information
Keep in touch
Visit our website www.restoreyork.co.uk.
The Charity also has a Facebook page www.facebook.com/RestoreYork and an Instagram account (Instragram.com/restoreyork) to update and interact with its supporters.
Online donations can be made via restoreyork.co.uk/donate
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