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2024-03-31-accounts

South Leeds Alternative Trading Enterprise Limited

Charity number 1149293

A company limited by guarantee number 06394383

Annual Report and Financial Statements

for the year ended 30 March 2024

South Leeds Alternative Trading Enterprise Limited

Annual Report and Financial Statements for the year ended 30 March 2024

Contents Page
Trustees' report 2 to 5
Examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the accounts 10 to 17

Prepared by West Yorkshire Community Accountancy Service CIO

1

South Leeds Alternative Trading Enterprise Limited

Trustees' report for the year ended 30 March 2024

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates

Jude McCarthy Edward Carlisle Keith Garrard Alison Ward Alex Cheung Alison Giff

Appointed 30 September 2024

Charity number Company number

1149293 Registered in England and Wales 06394383 Registered in England and Wales

Registered and principal address

Unit 1 Balm Road Industrial Park Balm Road, Hunslet Leeds LS10 2BG

Bankers

Lloyds Bank plc 2 The Headrow Leeds LS1 6PN Co-operative Bank plc PO Box 250, Skelmersdale, WN8, 6W Triodos Bank UK Ltd Deanery Road. Bristol. BS1 5AS

Independent examiner

Simon Bostrom FCIE

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is a company limited by guarantee and was formed on 9 October 2007. It is governed by a memorandum and articles of association as amended by special resolutions on 1 October 2012 and 9 October 2012. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £10. The company was registered as a charity on 11 October 2012.

Method of recruitment and appointment of trustees

The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.

2

South Leeds Alternative Trading Enterprise Limited

Trustees' report (continued) for the year ended 30 March 2024

Objectives and activities

The charity's objects

To further such charitable purposes falling within the description of charitable purposes. Being the advancement of citizenship or community development - Charitable purposes that fall within this description being:

To advance education and training for the public benefit.

To relieve those in need and to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society - "Socially excluded" means being excluded from society, or part of society, as a result of being a member of a socially and economically deprived community - by undertaking charitable activities which assist those by reason of their age, ill-health, disability, financial hardship or other disadvantage.

To protect and preserve the environment for the public benefit by the promotion of waste reduction, refuse reclamation, recycling, the re-use and repair of recycled products and the use of surplus.

To further such other charitable purposes as the trustees may determine from time to time. The aim being to address the well-being of socially and economically disadvantaged communities in Leeds. 'Well-being' shall mean ensuring the basic needs of individuals and the community are met in relation to health, education, financial security, employment, the built environment and access to public services, amenities and recreation facilities.

The charity's main activities

To carry on activities which benefit the community and in particular (without limitation) to contribute to the social, environmental and economic well-being of the people of South Leeds by setting up not for profit social enterprise businesses with environmental and social aims which offer work opportunities to people with learning and other difficulties.

Public benefit statement

In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit.

Achievements and performance

We would like to thank our donors for their kind donations over the last 12 months. Even though many of our donors have been struggling themselves financially this year we have still received a large number of generous furniture donations. We continue to provide free collection of quality used furniture, helping people de-clutter their houses, dispose of “old“ things when they are buying new, or find a home for a deceased relative's treasured possessions. Continued high inflation and fuel prices have resulted in an increase in demand for our furniture as the public has become more price aware and have switched from new items to buying used items. We have continued to diversify our income types to give us more stability in a time of economic uncertainty.

3

South Leeds Alternative Trading Enterprise Limited

Trustees' report (continued) for the year ended 30 March 2024

Achievements and performance continued

Over the past year we have continued to increase the number of people with learning disabilities who are attending a placement in our shops or café. Our beneficiaries have continued to see their confidence and social skills grow whilst they develop work-based skills in a real workplace environment. We have offered training in customer protection rights, numeracy, IT and technology skills over the last year. In conjunction with funders we have provided support to our service users to help them afford the basics of life such as food and heating.

We are also grateful to Leeds City Council Waste Management, who encourage us to collect from the Holmewell Road Waste Sorting Site in Middleton. We would also like to thank all the funders that have provided us with grants over the last 12 months.

The Feel Good Café, which operates in Gipton, has seen strong growth during the cost of living crisis. The café provides a warm space and affordable warm meals. This has been valued during a time when people are struggling with the cost of food and the energy costs to cook that food. The café allows us to offer training and volunteering in catering to adults with learning disabilities as well as our original offering within the furniture shops.

In response to rising inflation SLATE has looked to cut costs, to find ways to operate more productively and to diversify our income types to ensure reliance for the future.

Financial review

The net income for the year was £79,051,all relating to unrestricted funds.

Reserves policy

The trustees aim to maintain sufficient reserve funds to cover between 3 and 6 months operating expenditure. This would equate to approximately £191k to £382k

The charity's total reserves at the year end were £597,854 all relating to unrestricted funds. After excluding tangible fixed assets of £31,040 the remaining free reserves were £566,814.

The trustees acknowledge the fact that the reserves currently exceed the upper limit of our policy. This is due to making year on year surpluses through earned income and gift aid. Forthcoming changes to Employer’s National Insurance Contributions and the Minimum Wage have increased costs above those prevailing when the current budget was planned; in addition pressures on Local Authority budgets are expected to have a negative effect on the charity’s income.

For these reasons and in light of the current climate of increasing economic and financial uncertainty in the UK and abroad, the trustees feel that it would be prudent to hold higher reserves to provide security to ensure that the charity is sustainable.

Plans for future periods

SLATE is adjusting to increase in operating costs by reviewing its pricing structure as well as trying to continue to control its costs. This is work that SLATE will continue over the coming months and years. We hope that this will allow us to offer more training, employment and volunteering opportunities to people with learning

4

South Leeds Alternative Trading Enterprise Limited Trustees' report (continued) for the year ended 30 March 2024

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Approved by the board of trustees on 03/12/2024

Jude McCarthy (Trustee)

5

South Leeds Alternative Trading Enterprise Limited

Independent examiner's report to the trustees of South Leeds Alternative Trading Enterprise Limited

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 30 March 2024, which are set out on pages 7 to 17.

Responsibilities and basis of report

As the charity's trustees of the charitable 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 charitable 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 ('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 charitable company's gross income exceeded £250,000 your examiner must be a fellow 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 fellow of ACIE which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Simon Bostrom FCIE

04/12/2024

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

6

South Leeds Alternative Trading Enterprise Limited

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 30 March 2024

Notes
2024
Unrestricted
funds
£
Income from:
Donations and legacies
(2)
123,940
Charitable activities
(3)
606,930
Other trading activities
(4)
38,496
Bank interest
7,653
Total income
777,019
Expenditure on:
Charitable activities
(5)
412,669
Total expenditure
697,968
Net income / (expenditure)
79,051
Fund balances brought forward
518,803
Fund balances carried forward
(6)
597,854		 2024
Restricted
funds
£
66,580
-
-
-
66,580
56,554
66,580
-
-
-		 2024
Total
funds
£
190,520
606,930
38,496
7,653
843,599
469,223
764,548
79,051
518,803
597,854		 2023
Total
funds
£
184,627
552,724
34,508
389
772,248
682,900
682,900
89,348
429,455
518,803

All incoming resources and resources expended derive from continuing activities.

7

South Leeds Alternative Trading Enterprise Limited

Balance sheet

as at 30 March 2024
2024
Unrestricted
£
Fixed assets
Tangible assets
(7)
31,040
Total fixed assets
31,040
Current assets
Debtors and prepayments
(8)
86,821
Cash at bank and in hand
(9)
486,262
Total current assets
575,083
Current liabilities:
amounts falling due within one year
Creditors and accruals
(10)
8,269
Total current liabilities
8,269
Net current assets / (liabilities)
566,814
Net assets
597,854
Funds
Unrestricted funds
597,854
Restricted funds
-
Total funds
597,854		 2024
Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-		 2024
Total
£
31,040
31,040
86,821
486,262
575,083
8,269
8,269
566,814
597,854
597,854
-
597,854		 2023
Total
£
13,560
13,560
76,782
437,090
513,872
8,629
8,629
505,243
518,803
518,803
-
518,803

For the year ending 30 March 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who are also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 03/12/2024

Jude McCarthy (Trustee)

8

South Leeds Alternative Trading Enterprise Limited

Statement of cash flows

for the year ended 30 March 2024

Cash flows from operating activities:
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Bank interest
Sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Repayments on borrowing
Cash inflows from new borrowing
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Adjustments for:
Depreciation charges
Bank interest
Loan interest
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by (used in) operating activities
Analysis of cash and cash equivalents
Notice deposits (less than 30 days)
Total cash and cash equivalents
Reconciliation of net movement in funds to net cash flow
from operating activities
Net movement in funds for the reporting period (as per the
statement of financial activities)
Cash in hand		 2024
£
76,062
7,653
1,833
(34,376)
(24,890)
-
-
-
51,172
437,090
488,262
2024
£
79,051
15,063
(7,653)
-
(10,039)
(360)
76,062
2024
£
709
485,553
486,262		 2023
£
53,776
389
-
(7,081)
(6,692)
(1,992)
-
(1,992)
45,092
391,998
437,090
2023
£
89,348
11,421
(389)
325
(41,521)
(5,408)
53,776
2023
£
292
436,798
437,090

9

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts

for the year ended 30 March 2024

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year.

No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Donated goods for resale are valued at the amount actually realised upon their sale.

Donated assets, facilities or services are valued at their estimated value to the charity. This is the price that the charity estimates it would pay in the open market for equivalent items; or services and facilities of equivalent utility to the charity.

Investments

Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

10

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts

for the year ended 30 March 2024

1 Accounting policies continued

Tangible fixed assets

Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:

Motor vehicles: over 5 years Fixtures and fittings: over 5 years Equipment: over 4 years

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Leases

Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.

11

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts continued

for the year ended 30 March 2024

2 Donations and legacies
Leeds City Council - Adult Social Care (ASC)
Leeds City Council - Other grants
Leeds Community Foundation
Revive Leeds CIC
Volition - Leeds
GIPSIL
Leeds Mind
Leeds Older People's Forum
The Duke Of York's Community
Gift aid claims
Other donations
3 Charitable activities income
Furniture sales
Cafe sales
Direct placement fees
4 Other trading activities
Revive CIC management charges
Recycling credits		 2024
Unrestricted
funds
£
-
-
-
108,422
-
-
-
-
-
15,448
70
123,940
2024
Unrestricted
funds
£
411,996
105,963
88,971
606,930
2024
Unrestricted
funds
£
31,036
7,460
38,496		 2024
Restricted
funds
£
37,000
17,500
9,300
-
2,780
-
-
-
-
-
-
66,580
2024
Restricted
funds
£
-
-
-
-
2024
Restricted
funds
£
-
-
-		 2024
Total
funds
£
37,000
17,500
9,300
108,422
2,780
-
-
-
-
15,448
70
190,520
2024
Total
funds
£
411,996
105,963
88,971
606,930
2024
Total
funds
£
31,036
7,460
38,496		 2023
Total
funds
£
37,000
-
-
125,000
700
817
1,000
500
775
18,023
812
184,627
2023
Total
funds
£
385,965
85,644
81,115
552,724
2023
Total
funds
£
22,234
12,274
34,508

12

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts continued

for the year ended 30 March 2024

5a
Support costs
Support cost type
Management and admin salaries
Payroll fees
Accountancy and independent examination
Memberships and subscriptions
5b
Charitable activities expenditure detail
Salaries, NIC's and payroll costs
Freelancers / outsourcing
Staff travel
Volunteer expenses
Conference and training
Furniture store purchases
Cafe purchases
Repairs and renewals
Vehicle maintenance and fuel
Postage, phone and internet
Office and administration
Advertising and publicity
Registrations and subscriptions
Rent, rates and utilities
Insurance
Clothing and uniforms
Bank charges
Independent examination
Loan interest payable
Depreciation
Bad debts		 2024
Unrestricted
funds
£
412,669
333
2,385
3,565
6,951
59,880
45,521
14,681
10,211
3,479
8,353
3,811
3,615
93,330
4,853
962
6,168
1,785
-
15,063
353
697,968		 2024
Restricted
funds
£
56,554
-
-
2,671
-
-
1,015
-
-
2,709
1,863
-
1,768
-
-
-
-
-
-
-
-
66,580		 2024
Total
cost
£
73,511
3,978
1,785
5,383
84,657
2024
Total
cost
£
469,223
333
2,385
6,236
6,951
59,880
46,536
14,681
10,211
6,188
10,216
3,811
5,383
93,330
4,853
962
6,168
1,785
-
15,063
353
764,548		 2023
Total
cost
£
64,422
2,313
1,785
3,969
72,489
2023
Total
cost
£
420,026
753
3,150
7,882
5,860
48,136
39,901
8,484
11,902
3,855
8,536
4,974
3,999
88,533
6,857
1,196
5,325
1,785
325
11,421
-
682,900

13

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts continued

for the year ended 30 March 2024

5c
Staff costs and numbers
Gross salaries
Social security costs
Employment allowance
Pensions
Payroll charges		 2024
£
426,356
32,218
(5,000)
11,671
3,978
469,223		 2023
£
384,045
28,780
(5,000)
9,888
2,313
420,026

The average number of employees during the year was 21.4, being an average of 15 full time equivalent (2023: 21, 12.8 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme
Costs of the scheme to the charity for the year
Amount of any contributions outstanding at the year end
Amount of any contributions prepaid at the year end
6 Restricted funds
Balance b/f
Incoming
£
£
LCC ASC (delivery team)
-
37,000
Leeds Community Foundation
-
9,300
LCC Training
-
17,500
Volition - Leeds
-
2,780
-
66,580		 Outgoing
£
37,000
9,300
17,500
2,780
66,580		 2024
£
11,671
-
-
Transfers
£
-
-
-
-
-		 2023
£
9,888
-
-
Balance c/f
£
-
-
-
-
-

Fund name

Purpose of restriction

LCC ASC (delivery team) To provide alternative day care services. Leeds Community Foundation To support Adults with Learning disabilities to develop work related skills. LCC Training To assist adults with learning disabilities in developing basic skills. Volition - Leeds To support adults with Learning disabilities life a meaningful life.

14

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts continued

for the year ended 30 March 2024

7
8
9
**10 **		 Tangible assets
Cost
At 1 April 2023
Additions
Disposals
At 30 March 2024
Depreciation
At 1 April 2023
Eliminated on disposal
Charge for year
At 30 March 2024
Net book value
At 30 March 2024
At 31 March 2023
Debtors and prepayments
Debtors
Prepayments
Accrued income
Other debtors
Cash at bank and in hand
Cash at bank
Cash in hand
Creditors and accruals
Creditors
Accruals
Other creditors		 £
14,263
776
-
15,039
14,263
-
155
14,418
621
-
Fixtures
and fittings		 £
8,281
-
-
8,281
2,971
-
1,771
4,742
3,539
5,310
Equipment		 £
41,250
33,600
(21,125)
53,725
33,000
(16,900)
10,745
26,845
26,880
8,250
2024
£
68,997
5,302
6,409
6,113
86,821
2024
£
485,553
709
486,262
2024
£
5,961
1,785
523
8,269
Vehicles		 Total
£
63,794
34,376
(21,125)
77,045
50,234
(16,900)
12,671
46,005
31,040
13,560
2023
£
62,804
3,426
10,510
42
76,782
2023
£
436,798
292
437,090
2023
£
5,695
1,785
1,149
8,629

15

South Leeds Alternative Trading Enterprise Limited

Notes to the accounts continued

for the year ended 30 March 2024

11 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Remuneration and benefits received by key management personnel

The total employee benefits received by key management personnel were £48,083 (previous year: £42,892).

12 Operating leases

Within one year
In the second to fifth years inclusive
Over five years from the balance sheet date
Expected future minimum lease payments over the remaining life of the
lease, analysed into the period in which the commitment falls due:		 2024
£
65,450
51,683
-
117,133		 2023
£
58,250
109,933
-
168,183

13 Joint Ventures

South Leeds Alternative Trading Enterprise Limited (SLATE) and St Vincent's are the sole members of Revive Leeds CIC, a company limited by guarantee.

SLATE does not have any monetary investments in Revive Leeds CIC.

Each year Revive Leeds CIC donates its profits in equal portion to the two member charities.

During the year a donation of £108,422 was made by Revive Leeds CIC to SLATE (previous year: £125,000).

16

South Leeds Alternative Trading Enterprise Limited

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 30 March 2024

2024
2023
Unrestricted Unrestricted
funds
funds
£
£
Income
Donations and legacies
123,940
144,652
Charitable activities
606,930
552,724
Other trading activities
38,496
34,508
Bank interest
7,653
389
Total income
777,019
732,273
Expenditure
Charitable activities
412,669
641,482
Total expenditure
697,968
641,482
Net income / (expenditure)
79,051
90,791
Fund balances brought forward
518,803
428,012
Fund balances carried forward
597,854
518,803		 2024
Restricted
funds
£
66,580
-
-
-
66,580
56,554
66,580
-
-
-		 2023
Restricted
funds
£
39,975
-
-
-
39,975
41,418
41,418
(1,443)
1,443
-		 2024
Total
funds
£
190,520
606,930
38,496
7,653
843,599
469,223
764,548
79,051
518,803
597,854		 2023
Total
funds
£
184,627
552,724
34,508
389
772,248
682,900
682,900
89,348
429,455
518,803

17