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← Transformation Cpr

2024-12-31-accounts

Charity registration number 1146238

TRANSFORMATION CPR

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

TRANSFORMATION CPR

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Senior management

J Nankivell Ms C Allen Mrs B R Ellenbroek Mr. Mark Tamblyn (Appointed 2 January 2025) A Corbett CEO (to August 2025) J Duffin Charity Manager (from August 2025)

Charity number 1146238 Principal address Centenary Wesleyan Church Wesley Street Camborne Cornwall TR14 8HS Independent examiner TC Group Vivian House Newham Road Truro Cornwall United Kingdom TR1 2DP

TRANSFORMATION CPR

CONTENTS

Page
Trustees' report 1 - 11
Independent examiner's report 12 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 32

TRANSFORMATION CPR

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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)" (effective 1 January 2019).

Objectives and activities

We aim to challenge social and financial exclusion with Camborne, Pool and Redruth.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Food Banks

Transformation CPR (the Charity) operates 3 independent Foodbanks across the Camborne Pool Redruth (CPR) area supporting those in the local community who are experiencing food poverty and financial hardship. Service users are provided with 6 vouchers in 6 months and extra support if the agency requests it. The voucher system is accessed by 125 professional agents in the area ranging from schools, GP surgeries, housing services, homeless services and crisis agencies. Food bank provision has been an integral part of the Charity's service offer since 2010.

Community Hub

Transformation CPR has offered Hub Services in some form since 2017. This enables service users to connect with the Charity team over the wider issues they face; supporting them to move on from food bank reliance and financial hardship to a more sustainable way of living. The Charity signposts to wider organisations in its network of contacts who help address issues around social welfare, health/wellbeing, vulnerability and financial deprivation. Much of this work is done through weekly Community Hub sessions.

Community Health and Wellbeing Programme

New in 2024 was the implementation & delivery of an NHS-funded community outreach programme. This programme utilises the Charity’s extensive community network to deliver activities and signposting in order to alleviate current, and prevent future healthcare inequalities, in the communities served.

Crisis Funding and Partnership Working

The Charity receives referrals from professional agents to support clients most in need with access to crisis funding. Through an established network of partners and local agencies service users are offered wider support, to help move away from reliance on financial support and food banks.

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Christmas Meal Appeal

Working in partnership with another local food bank, Transformation CPR supplies a fresh ‘ready to cook’ Christmas Lunch delivered to the door of those in need on the 23rd December, plus presents for the children. This is a large and busy operation requiring a lot of planning.

Foodshare

This is a warehouse facility which makes up the meal boxes and delivers them to the Food Banks. The warehouse team also collect donated food from community collection points, "waste" food from supermarkets and "overmanufactured" food from local food producers. All collected/donated food is checked and dated by the Charity's team of volunteers.

Office

The charity moved offices in the year in order to meet the needs of the increased team. The office space occupied by the charity in the year is owned by Cornwall Council and the charity rented it at a competitive rate.

Social investments

Social investment is at the core of Transformation CPR's work - articulated through the Charity's governance, constitution, planning, projects and day-to-day operations.

Social investment is delivered through 3 core service areas:

The Charity's primary objective is to support individuals/families within the community to move on from reliance on food bank provision and financial hardship; to safer, happier and healthier lives.

Grant making policy

Applications for crisis funding are made to the Charity on a regular basis. In line with policy on the provision of food, crisis funding requests are received and processed from professional referrers only.

Each request is individually assessed using a standard set of questions, aligned to the charity's core purpose and/ or awarding body's grant-making criteria.

A cap for each fund, and financial practices are in place, to monitor this. Where it is beneficial and better use of public funds, for the client to access debt/budgeting advice before an application is made for crisis funding, a signposting process is in place to support this.

The Charity's Crisis Funding Panel meets weekly to assess each award.

Volunteers

A team of approximately 65-70 weekly volunteers supporting and a further 91 volunteers for the Christmas Meal Appeal work alongside the Charity’s core team of 6 staff. Volunteers support in a number of ways including:

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance

Significant activities and achievements against objectives Charitable activities

A summary of the main achievements of the charity, identifying the difference the charity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole is given below:

Food Bank achievements:

During 2024 the Charity team provided 134,375 meals to individuals and families in the Camborne, Pool and Redruth area -14.41% less than 2023 service figures although still significantly higher than any other foodbank in Cornwall.

Average beneficiary numbers are typically 1,200 (unique households) per annum.

Christmas Meal campaign success:

The 2024 campaign supported over 292 households with a ready-to-cook Christmas meal including additional food items and presents for the children. Additionally, the charity gave out 71 ambient boxes for 74 single people, and wrapped over 2,000 gifts for children, parents and young people all supported by 91 volunteers.

Community Hub feedback:

1,764 visits were recorded to the Community Hubs during 2024 (approx. 147 per month).

Eight years of Community Hub delivery has demonstrated that the local community greatly values this service. Feedback collected from 2024 sessions highlight the impact and range of outcomes achieved.

Financial wellbeing outcomes:

93 households were awarded a total of £10,815 crisis funding in 2024; utilising grant funds from Cornwall Community Foundation, ACTS 435 and our own fund ‘Jen Loved’.

As a result of further investment in the Community Hub in 2024 (from 3 – 5 sessions a week) the Charity was able to reduce the total number of grants awarded by focusing more attention on sustainable routes to financial wellbeing including signposting to financial support, benefits advice, debt support and budgeting.

New team - Community Health and Wellbeing Programme

With NHS funding and additional capacity required across the charity, the charity grew the staff team to 18 in 2024.

The Community Health and Wellbeing Workers were onboarded in 2024 and embedded themselves working in some of the area’s most socially isolated and economically challenged neighbourhoods; where health outcomes are significantly low. Their work has encompassed:

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements against objectives set

With the community still facing a cost-of-living crisis so soon after the COVID-19 Pandemic, the Charity's objectives this year remained simple:

Fundraising performance

Early in 2024 the following fundraising objectives were set:

All objectives were fully met in 2024.

Funding continued to be received from the National Lottery and the Garfield Weston Foundation and The Headley Trust (Sainsbury’s Family Charitable Foundation) along with a myriad of other small funders including JS Williams, Cornwall Council, Camborne Town Council and a local donors.

Income of £149,765 was achieved.

Investment performance

In 2025 Transformation CPR will review investment options to ensure Charity funds are working to their maximum potential .

In line with the growth in activities and changing service-user demographic, focus also shifted to engaging further professional advisors to support with:

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

The financial statements for the year report a deficit of £225,209 on unrestricted funds and an overall deficit of £138,802.

At the year end, free reserves - defined as unrestricted funds not represented by tangible fixed assets and not designated for specific purposes - amounted to £1,356 (2023: £239,565), representing a decrease of £238,209 over the period.

As trustees, we gave a lot of financial control to our former CEO. This in hind sight was an oversight, and we are very aware of the impact this had. However, we have learned a great deal from this, and since the removal of the CEO, trustees now ensure a regular oversight of the charities finances which includes monthly financial updates.

The further actions which have taken place to ensure the continued financial viability of the charity include the relocation of our office premises office block where we paid £850 per month, to Centenary Chapel in Camborne for £50 per month. We also reviewed and renegotiated IT and comms service contracts to reflect a smaller operation. Additionally, we made four administrative members of staff redundant within the back office to reduce overheads.

In addition, without impacting the day to day running of charity we reduced hours of some remaining staff. The charity has been able to mitigate the removal of these positions by restructuring the management tier to create the role of Charity Manager to oversee day to day functions, diversifying and increasing our volunteer roles to cover administrative roles and using our Community Health Care Workers to oversee wider charity functions. By spreading the workload in this way Transformation CPR has not only been able to maintain our core services functions, but also develop a stronger fundraising strategy. This has included funding from Cornish Metals, far more active and effective Social Media campaigns and greater community involvement even including someone running the London Marathon to support the charity’s cause.

The charity is developing a Reserves Policy which will aim to maintain 3 months operating costs. It will take account of the current pressures on the services offered by the charity, arising from the developing cost of living crisis facing many service users, together with the ever more challenging fund-raising environment.

Reserves policy

As part of the Charity’s financial planning process, reserves are held for business continuity purposes; to ensure Transformation CPR can continue to serve the local community by providing essential provision, services and crisis funding.

2024 was a year which illustrated the need for contingency funds to mitigate risk. As the cost-of-living crisis prevailed and levels of public food donations fell, a food supply arrangement was urgently required. Transformation CPR has continued its work with NISA to purchase the high volumes of food it needs to continue to operate in the areas we serve.

The cost of providing food for the community increased from £6,000 in 2022 to almost £100,000 in 2023 and 2024. Transformation CPR’s reserves position protected essential services from unnecessary financial pressure.

Despite this huge increase in service costs, the Charity was fortunate again to be in receipt of generous donor and funder contributions which greatly reduced the forecast in-year deficit. Transformation CPR continues to explore options for investment to safeguard the future financial interests of the charity.

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Transformation CPR Reserves Policy

1. Rationale:

Transformation CPR has undergone wide ranging financial fluctuations over the last 4 years. The reserves policy will be used to benchmark and guide our incomings and outgoing into the future.

2. Target Level

The accounts show free reserves of £1,356 at 31 December 2024.

The Trustees aim to maintain free reserves equivalent to 3 months of core operating expenditure, currently estimated at £103,968.

This falls short of our reserves target by £102,612.

3. Current Status

At the end of February 2026, our total funds held were £79,745, which included restricted funds of £79,000, meaning that our free reserves were £745.

4. Plans to address the shortfall

The specific steps taken to address the shortfall are outlined in the Trustees Report and cover the relocation of offices and substantial reduction in staff overheads.

In addition to this in more practical terms we have reduced the amount of food boxes provided to align with the national benchmarks of Food Bank provision. We are now in line with that offered by Trussel Trust. We are also engaging far more actively with our local community to help support us.

The measures we have taken since the end of 2024 have now resulted in savings of £21,000 per month. This has enabled us to secure the immediate future of Transformation CPR as a viable operation focusing on its core objective, providing a vital food bank service to the local community. In the longer-term we aim to return to the target reserve level within 3/5 years through further cost-saving measures and the revised fundraising strategy.

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Principal funding sources

Throughout 2024 the Charity continued to receive substantial income from donors, partners and funders including (figures have been rounded):

Notably, the following grant funds were secured/utilised during 2024:

NHS Health Inequalities Programme

£230,699 - four quarterly payment of a 3-year award to deliver the Community Health and Wellbeing Worker programme.

Garfield Weston Foundation

£40,000 for core costs.

NHS Cornwall & Isles of Scilly

£18,000 toward the development of the Community Hub - including space, salaries, resources and refreshments.

National Lottery - Awards for All England

£40,973 award towards food costs

J S Williams

The Charity continued to be supported by this fund for marketing & website development. This is the first year of a multi-year funding front loaded for £10,000 with a further £5,000 for three subsequent years.

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Investment policy

2024 was a further year of growth and expansion in Transformation CPR’s operational activities:

In 2024 the two new Committees introduced in 2023 were consolidated to provide scrutiny and support the work of the board:

Further capacity building was identified by the Board of Trustees as a matter of urgency and the Board actively sought to recruit new trustees. One new trustee was onboarded in early 2025.

As the Charity continues to embed a growing team and systemise ways of working, plans to focus on investment and legal form (transition to CIO) have been progressed in 2024, with the CIO’s registration & CIO number (1210364) issued by the Charity Commission in 2024.

The charity is currently going through a period of consolidation, reflection and appraisal of its financial position and long-term financial aims. Our first priority is to maintain our long-term financial viability and then consider investing in areas which will support the provision of services to our local community.

A description of the principal risks facing the charity

The primary risks faced by Transformation CPR in 2024 and beyond are:

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

In 2024 the Board actively advertised and interviewed new board members who will be onboarded in 2025.

Jonanthan Nankivell continued as Chair of the Board of Trustees at our 2024 AGM.

Cat Allen was elected to Vice Chair at the same meeting.

Finance and Charity Committee:

Chair – Paul Roskrow Vice Chair – Jonathan Nankivell

Safeguarding and Governance Committee:

Chair – Cat Allen

Vice Chair – Barbara Ellenbroek

The trustees who served during the year and up to the date of signature of the financial statements were: J Nankivell

Ms C Allen Mrs B R Ellenbroek P Roskrow (Resigned 30 June 2025) Mrs. Tracey Hunt (Resigned 13 August 2024) Mr. Mark Tamblyn (Appointed 2 January 2025)

Recruitment and appointment of trustees

Each new Trustee is supported by existing Trustees and the staff team with familiarisation and introduction to the charity.

New Trustees are typically introduced during an informal Board Meeting in which they meet other Trustees and began building relationships within the team.

All Trustees are invited to attend formal Board meetings thereafter.

Safeguarding training is available to all new Trustees.

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Organisational structure

2024 concluded with four Transformation CPR Trustees in post.

Throughout the 2024 year a Leadership Team comprising Chief Executive Officer, Chief Operating Officer and Service Delivery met to review operational performance.

The Chief Executive Officer line manages the following staff within the charity:

Chief Operating Officer

The Chief Operating Officer line manages the following staff within the charity:

The Service Manager line manages the following staff within the charity:

The Community Outreach Manager line manages the following staff within the charity:

The staff team meet quarterly to review warehouse operations, discuss operational issues and share best practice.

Volunteers are supported by the staff team during their volunteering sessions.

The charity works locally within the following networks:

The charity works nationally within the Independent Food Aid Network.

From August 2025, the team comprised of a charity manager, a part time finance and accounts manager, a part time warehouse manager, part time driver and volunteer support.

TRANSFORMATION CPR

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees' report was approved by the Board of Trustees.

.............................. Senathan Nankivele J Nankivell Trustee

26.03.2026 Date: .............................................

TRANSFORMATION CPR

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TRANSFORMATION CPR

I report to the trustees on my examination of the financial statements of Transformation CPR (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’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.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

TRANSFORMATION CPR

INDEPENDENT EXAMINER'S REPORT (CONTINUED)

TO THE TRUSTEES OF TRANSFORMATION CPR

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 financial statements to be reached.

TC Group

James Pearce FCA

Vivian House Newham Road Truro Cornwall TR1 2DP United Kingdom

Dated: .........................

TRANSFORMATION CPR

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2024
2024
2024
2023
2023
Notes
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
136,121
375,072
511,193
165,878
185,506
Investments
4
4,781
-
4,781
2,412
-
Other income
5
1,633
-
1,633
610
-
Total income
142,535
375,072
517,607
168,900
185,506
Expenditure on:
Raising funds
6
17,400
-
17,400
8,200
-
Charitable activities
7
350,344
288,665
639,009
197,535
131,931
Total expenditure
367,744
288,665
656,409
205,735
131,931
Net income/(expenditure) and
movement in funds
(225,209)
86,407
(138,802)
(36,835)
53,575
Reconciliation of funds:
Fund balances at 1 January
2024
265,759
124,100
389,859
302,594
70,525
Fund balances at 31 December
2024
40,550
210,507
251,057
265,759
124,100		 Total
2023
£
351,384
2,412
610
354,406
8,200
329,466
337,666
16,740
373,119
389,859

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

TRANSFORMATION CPR

BALANCE SHEET

AS AT 31 DECEMBER 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 13 69,873 54,231
Current assets
Debtors 14 9,642 30,862
Cash at bank and in hand 187,980 323,983
197,622 354,845
Creditors: amounts falling due within one 15
year (16,438) (19,217)
Net current assets 181,184 335,628
Total assets less current liabilities 251,057 389,859
Net assets excluding pension liability 251,057 389,859
The funds of the charity
Restricted income funds 16 210,507 124,100
Unrestricted funds 40,550 265,759
251,057 389,859

26.03.2026 The financial statements were approved by the trustees on .........................

.............................. J Nankivell

Trustee

TRANSFORMATION CPR

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
20
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
£
(113,316)
(27,468)
4,781
(22,687)
-
(136,003)
323,983
187,980		 2023
£
(9,319)
2,412		 £
(3,105)
(6,907)
-
(10,012)
333,995
323,983

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

The charity is a public benefit entity and is constituted as an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.2 Going concern

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future, however, the trustees are aware that the charity's reserves fall short of the reserves target as set out in the trustees' report.

Developments which have taken place to ensure the continued financial viability of the charity include the relocation of our office premises form Chi Tevyans office block where we paid £850 per month, to Centenary Chapel in Camborne for £50 per month. Additionally, we made four administrative members of staff redundant within the back office to reduce overheads.

The charity has been able to mitigate the removal of these positions by making an internal promotion / appointment of a Charity Manager to oversee day to day functions, diversifying and increasing our volunteer roles to support more administrative roles and using our Community Health Care Workers to oversee wider charity functions. By spreading the workload in this way Transformation CPR has not only been able to maintain our core services functions, but also develop a stronger fundraising strategy.

Trustees’ assessment and conclusions regarding Transformation CPR’s ability to continue as a going concern

As soon as we were fully aware of the financial situation we were in, we took decisive and wide ranging steps to very quickly reduce our overheads and expenses but also ensure the continued provision of our core services to our community. Additionally, we have also re-assessed how we target and gain funding.

It was identified that national fundraising and grant opportunities are not only declining but also gaining far greater competition for other charities. To address this challenge, we have adapted our fundraising strategy and are now more targeted in how we apply for grant funding.

We are instead now looking far more to our local community to support us and this is becoming increasingly successful and is an area we will continue nurturing and developing. We are now at a point where our incoming and expenditure is balancing and we will continue to work to ensure that our expenses are closely monitored and any unnecessary expenses removed whilst also constantly scanning for ways to improved and expand our income streams.

Consequently, we as trustees are confident that Transformation CPR is and will continue to be a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from government grants and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Cost of raising funds comprise the costs of fundraising and associated support costs;

Expenditure on charitable activities includes the cost of running the centre to further the purposes of the charity and their associated support costs.

Other expenditure represents those items not falling into any other heading.

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 10% straight line Plant and equipment 10% straight line Fixtures and fittings 10% straight line Computers 10% straight line Motor vehicles 10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions 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 recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The trustees do not believe there are any critical judgements that have been made in applying the charity’s accounting policies.

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
118,621
11,000
Grants
17,500
364,072
136,121
375,072
Grants receivable for core activities
Cornwall Community
Fund - Multi Year Award
-
10,000
JS Williams
15,000
-
Acts 435
-
2,400
The National Lottery
Community Fund
-
50,973
Cornwall Community
Foundation - Other
Grants
-
4,000
NHS Cornwall & Isles of
Scilly Integrated Care
Board
-
18,000
Volunteer Cornwall
-
230,699
Natwest Group plc
-
-
Garfield Weston
Foundation
-
40,000
The Headley Trust
-
5,000
Other
2,500
3,000
17,500
364,072		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
129,621
153,878
-
381,572
12,000
185,506
511,193
165,878
185,506
10,000
1,500
11,833
15,000
5,000
-
2,400
-
6,334
50,973
-
27,315
4,000
-
12,500
18,000
-
20,000
230,699
-
66,969
-
5,000
-
40,000
-
30,000
5,000
-
10,000
5,500
500
555
381,572
12,000
185,506		 Total
2023
£
153,878
197,506
351,384
13,333
5,000
6,334
27,315
12,500
20,000
66,969
5,000
30,000
10,000
1,055
197,506

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 4,781 2,412

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

5 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 89 610
Insurance claim income 1,544 -
1,633 610

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Staff costs 17,400 8,200

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

7 Expenditure on charitable activities

Operation of Operation of
foodbanks foodbanks
across the across the
Camborne, Camborne,
Pool and Pool and
Redruth area Redruth area
2024 2023
£ £
Direct costs
Staff costs 390,026 130,806
Depreciation and impairment 11,826 9,079
Motor expenses 4,633 2,302
Gifts and donations - 704
Service costs 96,226 97,688
Crisis grants 10,275 24,037
512,986 264,616
Share of support and governance costs (see note 8)
Support 87,015 46,691
Governance 39,008 18,159
639,009 329,466
Analysis by fund
Unrestricted funds 350,344 197,535
Restricted funds 288,665 131,931
639,009 329,466

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

8
Support costs allocated to activities
Insurance
Light and heat
Telephone
Postage and stationery
Subscriptions
Sundries
IT costs
Establishment
Repairs and renewals
Advertising
Governance costs
Analysed between:
Operation of foodbanks across the Camborne, Pool and Redruth area
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 2024
£
2,834
9,003
4,558
4,125
1,132
2,787
2,681
37,097
15,124
7,674
39,008
126,023
126,023
2024
£
11,826		 2023
£
1,711
11,343
3,075
3,886
493
3,008
1,627
21,548
-
-
18,159
64,850
64,850
2023
£
9,079

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
18 7

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

11
Employees
Employment costs
Wages and salaries
The number of employees whose annual remuneration was more than
£60,000 is as follows:
£60,000 to £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2024
2023
£
£
407,426
139,006
2024
2023
Number
Number
1
-
2024
2023
£
£
61,518
-		 (Continued)
2024
2023
£
£
407,426
139,006
2024
2023
Number
Number
1
-
2024
2023
£
£
61,518
-
2023
Number
-
2023
£
-

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

13 Tangible fixed assets

Leasehold
improvements
£
Cost
At 1 January 2024
3,412
Additions
10,006
At 31 December 2024
13,418
Depreciation and
impairment
At 1 January 2024
1,024
Depreciation charged in the
year
1,342
At 31 December 2024
2,366
Carrying amount
At 31 December 2024
11,052
At 31 December 2023
2,388		 Plant and
equipment
Fixtures and
fittings
£
£
31,146
15,049
-
12,520
31,146
27,569
21,527
2,938
3,115
2,757
24,642
5,695
6,504
21,874
9,619
12,111		 Computers Motor vehicles
£
£
11,554
29,622
4,942
-
16,496
29,622
2,176
8,887
1,650
2,962
3,826
11,849
12,670
17,773
9,378
20,735		 Total
£
90,783
27,468
118,251
36,552
11,826
48,378
69,873
54,231

14 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
9,000
-
642
9,642		 2023
£
-
30,450
412
30,862

15 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
6,976
4,440
1,421
3,601
16,438		 2023
£
5,257
-
642
13,318
19,217

FOR THE YEAR ENDED 31 DECEMBER 2024

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
Fixed asset reserve 28,038 - (4,115) 23,923
- 10,000 (5,000) 5,000
The National Lottery Community Fund - 10,000 (10,000) -
Act 435 (2,445) 2,400 (1,980) (2,025)
Cornwall Community Foundation - Crisis
Funding 4,827 4,000 (7,185) 1,642
Jen Loved Crisis Fund 5,276 - (930) 4,346
NHS Cornwall & Isles of Scilly 7,102 18,000 (10,664) 14,438
Lidl - via Neighbourly - 500 (500) -
Volunteer Cornwall - CHWW 65,206 230,699 (191,666) 104,239
Garfield Weston Foundation 13,892 40,000 (12,313) 41,579
The Headley Trust - 5,000 (5,000) -
The National Lottery Community Fund - Cost
of Living 2,204 40,973 (33,312) 9,865
Aequorea Ltd - 6,000 (6,000) -
TRUEMARK - 5,000 - 5,000
The Norman Family - 2,500 - 2,500
124,100 375,072 (288,665) 210,507

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

16 Restricted funds (Continued)
Previous year: At 1 January Incoming Resources At 31
2023 resources expended December
2023
£ £ £ £
Fixed asset reserve 32,153 - (4,115) 28,038
Cornwall Community Foundation - Multi Year
Award 15,000 13,333 (28,333) -
Act 435 (750) 6,334 (8,029) (2,445)
Cornwall Community Foundation - Crisis
Funding 6,189 11,001 (12,363) 4,827
Jen Loved Crisis Fund 8,921 - (3,645) 5,276
NHS Cornwall & Isles of Scilly 4,832 20,000 (17,730) 7,102
February Foundation 4,180 - (4,180) -
Lidl - via Neighbourly - 555 (555) -
Volunteer Cornwall - CHWW - 66,968 (1,762) 65,206
Garfield Weston Foundation - 30,000 (16,108) 13,892
The Headley Trust - 10,000 (10,000) -
The National Lottery Community Fund - Cost
of Living - 27,315 (25,111) 2,204
70,525 185,506 (131,931) 124,100

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

16 Restricted funds

(Continued)

Restricted funds

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources Transfers At 31
2024 resources expended December
2024
£ £ £ £ £
Fixed asset reserve 26,194 - (6,959) 19,959 39,194
General funds 239,565 142,535 (360,785) (19,959) 1,356
265,759 142,535 (367,744) - 40,550
Previous year: At 1 January Incoming Resources Transfers At 31
2023 resources expended December
2023
£ £ £ £ £
Fixed asset reserve 21,838 - (4,963) 9,319 26,194
General funds 280,756 168,900 (200,772) (9,319) 239,565
302,594 168,900 (205,735) - 265,759
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 December 2024:
Tangible assets 39,194 30,679 69,873
Current assets/(liabilities) 1,356 179,828 181,184
40,550 210,507 251,057

18 Analysis of net assets between funds

TRANSFORMATION CPR

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

18 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 December 2023:
Tangible assets 26,193 28,038 54,231
Current assets/(liabilities) 239,566 96,062 335,628
265,759 124,100 389,859
19 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
20 Cash generated from operations 2024 2023
£ £
(Deficit)/surpus for the year (138,802) 16,740
Adjustments for:
Investment income recognised in statement of financial activities (4,781) (2,412)
Depreciation and impairment of tangible fixed assets 11,826 9,079
Movements in working capital:
Decrease/(increase) in debtors 21,220 (26,570)
(Decrease)/increase in creditors (2,779) 58
Cash absorbed by operations (113,316) (3,105)
21 Analysis of changes in net funds

The charity had no material debt during the year.