Going for Bust Annual Report and Consolidated Statements For the year ending 31 March 2025 Charity number: 1151515 Company number: 08427804
Going for Bust For the year ending 31 March 2025 Contents Page Trustees, report Independent Auditors, Report 8-10 Consolidated Statement of Financial Activities li Consolidated Balance Sheet 12-13 Charity Balance Sheet 14 Consolidated Cashflow Statement and Notes 15-16 Notes to the Financial Statements 17-29
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust OBJECtIVES AND AcfiviTIES Objectives and Aims The purpose of the Charity is to support those who are experiencing. or HAVE experienced from Breast Cancer. To financially support groups or individuals who are in remission or are recovering from the treatment of Breast Cancer and its effects. The Charity aims to continue developing its services going forward, to help and support as many people experiencing Breast Cancer as possible. The Charity reviews its success each year and considers how any improvements and successful expansion may be obtained within any financial constraints. Grants to Breast Cancer Hospital Units and Support Groups are given after full discussions regarding how the funds will be best used and which equipment is most needed. Grants to individuals are only given after full investigation of their situation with their Dr. Breast Cancer Nurse and/or Consultant. Trustees are issued a copy of the Charity Governance Code, with which they make themselves familiar. The Charity has a Trading Subsidiary, Going For Bust Trading Limited (Co no. 086732051, which runs Retail outlets throughout Dorset and West Hampshire. The profits generated within the Trading Company are gifted to the Charity for distribution within the Charitable objectives. The focus of our work Our main focus is to ensure that our Retail Outlets achieve the best possible results, individually, and collectively. with regards to providing a surplus/profit. We do this through.. Well trained and motivated staff Good image and presentation High levels of customer service Each shop having sufficient stock Strong and effective pricing structure Ensuring Trading Standards and Health and Safety policies are observed Working closely with local Hospitals and support groups New outlets are sourced and researched in target areas
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust Achievements and Performance Financial support was given 2024-2025 to local Breast Cancer Units and local Support Groups. by way of providing funds for specialised equipment/sen4ices/wellbeing activities. GOING FOR BUST SUPPORT CEpRE - Total cost of providing the following seNices'. Giving advice to those who have lost hair due to Chemotherapy. and supplying them with a suitable wig. Professionally measuring and advising those who need a specialised Bra due to Surgery regarding their Breast Cancer. and then supplying them with the suitable Bra. Relaxation sessions - Massage/Meditation £ 23.458 Emergency financial Aid Grants - Given following referral from the individuals Doctor/ConsultantlBreast Unit £ 4,271 Macmillan - To aid the running of their "Help at Home" service £ 15,000 Forest Holme Hospice Care- Cornplimentarytherapy sessions £ 5,000 Dorset County Hospital- Scar massage training £ 2,097 Most ofthe Charities income comes from the profit produced by our 13 Charity shops. which trade through Going for Bust Ltd- a 100% owned subsidiary of Going for Bust Charity- Going for bust traded solidly throughout the financial year. although profits were adversely affected due to large rises in utilities over the previous couple of years.
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust FINANCIAL REVIEW Factors likely to affect future financial performance or position, such as rising overheads, Irent/rateslsalaries/utilitiesl are always something that needs to be borne in mind as we go forward. Looking ahead it is very likely that the extra taxes, large rise in the living wage will adversely affect our profits going forward. These issues are likely to affect net profits, which leads to a potential drop in income for the Charity. Other than possible cutbacks, the most obvious way of mitigating rising costs, is to look into opening further shops, although finding suitable shops. in suitable areas, for the right rent is becoming more difficult. Total group reserves at the 31 March 2025 year end are £933.88912024.' £832,641). The Group has free reserves of £267,658 as at 31st March 2025 {2024: £420,510). Management and the Trustees consider the level of reserves to be sufficient to deliver Charity objectives for the next 12 months. Free Reserves are calculated by deducting fixed assets from the unrestricted and undesignated reserves held at the year end. Financial Position Going for Bust Trading Ltd achieved a surplus before Taxation of £101,29012024'. £125,339) Before gifting £90,42612024: £129,077) to Going for Bust Charity. Principal Funding Source5 In addition to the charity shops, there are occasional fundraising events undertaken by members of the public, li.e. coffee mornings or raffles) that provide further revenue and raise unrestricted funds for the Charity. Reserves Policy The trustees monitor the reserves and try to make the best use of the available charitable funds. Company reserve fund During this year, £IOO,OiXI has been allocated to an investment reserve fund, to act as future security regarding Going for Bust. FUTURE PLANS Going forward, Going for Bust is looking at ways of becoming more environmentally friendly where possible and practical. We have already moved from using plastic bags. to paper bags for goods sold in our shops. We will also consider, going forward. whether it will be viable at some point, to consider replacing our vans with electric models. Our current thinking is that it isn't viable for us at the present time. We also use only card price tickets in our shops and use recycled paper where possible at the ofFice.
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust STRucfuRE, GOVERNANCE AND MANAGEMENT Decision making. with regards to the day to day running of the Charity and Trading Company are deferred to the Senior Management- Paul Martin and Eleanor Hatcher. who between them have 25 years. experience in Charity Management. However, any decisions other than day to day management are discussed and agreed with the Trustees on a weekly basis. Remuneration of Key Personnel is agreed based on a fair and reasonable rate. considering the experience and expertise of the individuals. Any issues where it is thought there could be a possibility of major risk within the structure. is considered and acted on where necessary, i.e. situation monitored. extra training or supervision given. Governing Document The Charity is controlled by its Governing Document, a Memorandum and Articles, and constitutes a Limited Company. limited by guarantee, as defined by the Companies act 2(Kl6. Recruitment and appointment of new trustees The Directors of the Company are also CharityTrustees for the purpose of Charity law, and under the Companvs Articles, are known as members of the Management Committee. Under the requirements of the Memorandum and Articles ofAssociation, the members of the Management Committee are elected to serve for a period of three years, after which they must be re-elected. Directors can be appointed by ordinary resolution as described in the Governing Document. All the Trustees give their time voluntary and receive no benefits from the Charity. Any expenses reclaimed from the Charity are set out in note 11 of the accounts. Organisational strurture A scheme of delegation is in place. and day to day responsibility for Company Management rests with the Senior Management Team. This team is responsible for ensuring that the Individual Shop Managers and their teams are working to the levels expected. Induction and training of new trustees Trustees receive a copy of the Charity Commission Publication, The Essential Trustee,. what you need to know. ICC31.
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust STRucfuRE, GOVERNANCE AND MANAGEMENT (continued) Risk management The management committee constantly reviews the risks associated with an operation such as ours. The main risk identified is that the shops operation does not provide enough income for the Charity to be viable. This risk is reduced by way of careful budgetindoutgoings, and ensuring that the organisation does not borrow funds for any expansion, or running costs. The Company does not rely on an overdraft, and cash flow is monitored carefully daily. Public Benefit The Trustees have given due regards to the requirements of the Charity Commission. with respect to Public benefit, and are satisfied that the activities of the group meet the public benefit requirement. Volunteers The Charity is heavily reliant on the volunteers who perform many different tasks to assist with the management, administration and general operation of the Charity Shops. Fundraising Going for Bust raises its Charity Funds by way of profits from its 13 Charity Shops. It does occasionally operate separate fundraising activities, such as coffee mornings and pop-up Mastectomy Bra fittings. We do also receive donations from individuals andlor organisations who have raised funds to support those experiencing Breast Cancer. and then sent the proceeds to our Charity-
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust REFERENCE AND ADMINisfRATIVE DAlLs Trustees The Directors of the Charitable Company. are its Trustees for the purpose of Charity Law. and throughout this report, are collectively referred to as Trustees, or The Board. The Trustees during the year under review are- Mr S F Jupe - Director and Trustee Mr N C Slater - Director and Trustee Ms H A Tointon - Director and Trustee Key Management Personnel General Manager Head of Retail Operations Accounts Managerlcompany Official Signatory Manager of Support Centre/Fundraisin8 Paul Martin Eleanor Hatcher Gemma Fletcher Michelle Ormston Re8lStered Office 6B The Square Wimborne Dorset BH21 IJA Auditors TC Group 10 Bridge Street Christchurch BH23 IEF Bankers Solicitors Barclays Bank PLC I Churchill Place London, E14 5HP Jacobs and Reeves 153 High St Poole, BHIS IAU Investment managers Church House Investments Ltd York House 6 Coldharbour Sherborne DT9 4JW
Report of the Trustees for the Year Ended 31 March 2025 Going for Bust Ststement of the Trustee's responsibilities Company law requires that the Trustees prepare financial statements for each financial year. which give a fair and true view of the state of affairs of the Charitable group. and of the incoming resources and application of resource, including the income and expenditure of the Charitable group for that period. The Trustees are required to. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time. the financial position of the Charitable Group, and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Group. and hence for taking reasonable steps for the prevention and detection of fraud. and other irregularities. In so far as the Trustees are aware: There is no relevant audit information of which the groups auditors are unaware. The Trustees have taken all the steps that they ought to have taken. in order to make themselves aware of any relevant audit intormation. and to establish that the auditors are aware of that information. Auditors The Auditors, TC Group will be re appointed for the coming years accounting/auditing work. This Trustee's Report under the Charities Act 2(K16 was approved by the Board of Trustees on ..1..12/225...................................... And is signed and authorised on its behalf by; HAToi ton- rustee
Report of the Independent Auditors to the Trustees of Goingfor Bust Opinion We have audited the consolidated financial statements of Going for Bust Ithe 'charitable parent company, and its trading subsidiary. together'the group'l for the year ended 31 March 2025 which comprise the consolidated statement of financial activities. the group and parent charitable company balance sheets and the consolidated statement of cashflows and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable group's and the parent charitable company's affairs as at 31 March 2025 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu5ion5 relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAS IUKI require us to report to you where: the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate. or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group and parent charitable company'5 ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Report of the Independent Auditors to the Trustees of Goingfor Bust Other information The trustees and directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by eXptIon We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to vou if, in our opinion.. the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements , or the group and parent charitable company have not kept adequate accounting records; or the financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees Responsibilities, the trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group and parent charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are f ree from material misstatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Report of the Independent Auditors to the Trustees of Goingfor Bust The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks applicable to the group and the sector in which they operate. We obtained an understanding of how the group are complying with those legal and regulatory frameworks by making enquires of management We a55essed the sU5ceptibility of the group's financial 5tstements to material mi55tatement, including how fraud might occur. Audit procedure5 performed by the engagement team included- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process Challenging assumptions and judgements made by management in its accounting estimates Identifying and testing journal entries. in particular any journal entries posted with unusual account combinations,. and Assessing the extent of compliance with the relevant law and regulations. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. Use of our report This report is made solely to the group and charitable company. Our audit work has been undertaken so that we might state to the group and charitable company those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and charitable company as a body, for our audit work, for this report, or for the opinions we have formed. l M Rodd Bsc FCA FCCA (Senior Statutory Auditor) For and on behalf of TC Group Registered Auditor 10 Bridge Street Christchurch BH23 IEF Date.. 17 December 2025 io
Going for Bust Consolidated Statement of Financial Activities forthe Year Ended 31 March 2025 (incorporating income and expenditure account) 2025 2024 Unrestrirted Restricted funds funds Total funds Total funds Notes INCOME AND ENDOWMEPS FROM Donations and legacies 26,365 26,365 47,240 Charitable activities Going for Bust Trading income Investment income 1,169.441 8.093 1,169.441 8,093 1.161,620 9,852 Total 1,203,899 1,203,899 1,218,712 EXPENDuRE ON Raising funds Charitable activities Provision of help and support for people diagnosed with breast cancer 1.282 1,282 71,912 71,912 138,458 Going for Bust Trading expenditure 1.069.109 1,069.109 1,037,037 Other expenditure Total 1,142,303 1,142,303 1,175,495 Net gains/llosses) on investments 39.652 39,652 8.364 NET INCOME 101,248 101,248 51,581 Transfers between funds Tax on artivities 20 34 Net movement in funds 101,248 101,248 51,615 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 832,641 933,889 832,641 933,889 781,026 832,641 The notes on pages 17 to 29 form part of these financi31 statements li
Going for Bust Consolidated Balance Sheet At 31 March 2025 Company number.. 08427804 Charity number: 1151515 2025 2024 Notes FIXED ASSETS Tangible assets Investments 14 Is 18,215 548,016 566,231 3,767 408,364 412,131 CURRENT ASSETS Debtors.. amounts falling due within one year Debtors.. amounts falling due after more than one year Cash at bank and in hand 16 16 17 86,469 1,792 313,442 401,703 76,975 1,792 383,438 462,205 CREDoRs Amounts falling due within one year 18 134,0451 141,6951 CURRENT ASSETS 367,658 420,510 TOTAL As$s LESS CURRENT LIABILThIES 933,889 832,641 CREDoR5 Amounts falling due after more than one year 19 NEf ASSETS 933,889 832,641 FUNDS Unrestricted funds Designated funds Restricted funds TOTAL FUNDS 20 833.889 loo.000 832,641 20 20 933,889 832,641 The notes on pages 17 to 29 form part ofthese financial statements 12
continued... Going for Bust Consolidated Balance Sheet (continued) At 31 March 2024 Company number.. 08427804 Charity number: 1151515 The trustees acknowledge their responsibilities for lal ensuring that the charitable group and company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable group and company as at the end of each financial year and of its surplus and def icit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable group and company. These financial statements have been audited under the requirements of Section 144 of the Charities Act 2011. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies. These financial statements were approved by the Board of Trustees on ..4w.iao029........................ and were signed on its behalf by.. ..klannah..T.ointorn................ Ms H A Tointon- Trustee The notes on pages 17 to 29 form part ofthese financial statements 13
Going for Bust Charity Charity Balance Sheet At 31 March 2025 Company number: 08427804 Charity number.. 1151515 2025 2024 Notes FIXED ASSErs Tangible assets Investments 14 15 548,017 548,017 408,365 408,365 CURRE ASSErs Debtors Cash at bank and in hand 16 85,442 119,691 205,133 126,924 127,476 254,400 17 CREDThORS Amounts falling due within one year 18 NET CURRE ASSErs 205,133 254,400 TOTAL ASSETS LESS CURRETr lIABILlEs 753,150 662,765 CREDITORS Amounts falling due after more than one year 19 NET ASSETS 753,150 662,765 FUNDS Unrestricted funds Designated funds Restricted funds TOTAL FUNDS 20 20 20 653,150 ioo,ocrf) 662,765 753,150 662,765 These financial statements were approved bythe Board of Trustees on ..12r*).......................... and were signed on its behalf by.. ..Hannah..Tninton...... .. ..... M5 H A Tointon - Trustee The notes on pages 17 to 29 form part of these financial statements 14
Going for Bust Consolidated Cashflow Statement forthe Year Ended 31 March 2025 2025 2024 Cash flows from operating activities: Cash generated from operations Tax paid Interest on hire purchase paid Net cash provided by (used in) operating activities Notes 47,572 50,398 1506} 47,066 17461 49,652 Cash flov from investing activities: Purchase of tangible fixed assets Purchase of fixed asset investments Interest received 122,5701 iioo,0001 8,093 1400,0001 9.852 Net cash provided by (used in) investing activities 1114,4771 1390,1481 Cash flows from financing activities: Hire purchase repayments 12,5851 12.6251 Net cash provided by (used in) financing activities 12,5851 12.6251 Change in cash and cash equivalents in the reporting period 169,9961 1343,1211 Cash and cash equivalents at the beginning of the reporting period 383,438 726,559 Cash and cash equivalents at the end of the reporting period 313,442 383,438 The notes on pages 17 to 29 form part ofthese financial statements 15
Going for Bust Notes to the Consolidated Cash Flow Statement for the Year Ended 31 March 2025 I. RECONCILIATION OF NET INCOME TO CASH FLOW FROM OPERATING AcfivThiES 2025 2024 Net income for the reporting period (as per the statement of financial activities} Adjustments for: Depreciation charges Finance costs IGainl/loss from investments Interest received 101.248 51,581 8,122 506 {39,6521 18,0931 3,609 746 18.3641 19.8521 Cashflows before movement in working capital 62,131 37,720 Decrease / lincreasel in debtors Increase / Idecreasel in creditors 19,4941 15,0651 10,655 2.023 Net cash provided by (used in) operating artivities 47,572 50,398 2. CASH AND CASH EQUIVALENrs The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these balance sheet amounts: 2025 2024 Year ended 31 March 2025 Cash and cash equivalents 313,442 383,438 Year ended 31 March 2024 Cash and cash equivalents 383,438 726,559 3. ANALYSIS OF CHANGES IN NET FUNDS At 01104124 Cash Flow At 31103125 Net cash Cash at bank and in hand 383,438 169,9961 313,442 Debt Finance leases 17.043} 2,585 14.4581 Total 376,395 167,4111 308,984 16
Going for Bust Notes to the Financial Statements For the Year Ended 31 March 2025 I. LEGAL FORM Going for Bust, a public benefit company under FRS 102, is incorporated as a Company limited by guarantee, registered in England and Wales (company number 084278041. The registered office address is on the company information page of these accounts. The company is also a registered charity in England Icharity number 11515151. Going for Bust Trading Limited is incorporated as a Company limited by shares, registered in England and Wales Icompany number 086732051. The trading company is wholly owned by the Going for Bust charity. 2. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffective l January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Basis of Consolidation The group financial statements consolidate the financial statements of Going for Bust and its wholly owned trading subsidiary Going for Bust Trading as if they formed a single entity. Intercompany transactions and balances have therefore been eliminated in full. The Group has taken advantage of section 408 of the Companies Att 2CKI6 by not providing a seperate statement of financial activities for the company. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donated goods are only recognised when the amount can be measured reliably. Government grants shall be recognised in profit or loss on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 17
Going for Bust Notes to the Financial Statements For the Year Ended 31 March 2025 2. ACCOUNTING POLICIES- continued Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings Itradin8 subsidiary) 25% on cost Fixtures and fittings Icharity) -depreciated over 5 years on a straight line basis Motor vehicles - 20% on cost Computer equipment -depreciated over 3 years on a straight line basis Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 18
Going for Bust Notes to the Financial Statements For the Year Ended 31 March 2025 2. ACCOUNTING POLICIES- continued Debtors and prepayments Debtors and prepayments are recognised at the transaction price where an entity has a present obligation resulting from a past event that will probably result in the transfer of funds from a third party to the charity and the amount due to settle the obligation can be measured or estimated reliably. 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 transaction price after allowing for any trade discounts due. Hire purchase and leasing commitments The company operates a defined contribution pension scheme. Contributions payable to the company's pensionscheme are charged to profit or loss in the period to which they relate. Significant judgements and estimates The trustees believe there are no significant judgements in the financial statements. There are no areas that are considered to be key sources of estimation uncertainty. Stocks The company holds stock of donated goods for resale through the trading subsidiary on behalf of the parent charity. Stock is valued at the lower ot cost and net realisable value and accordingly no value is recorded in the financial statements. Financial Assets Basic financial assets, which include cash and bank balances, are initially measured at transaction price. Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in "net gain5/llossesl on investments" in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably. 19
Goingfor Bust Notes to the Financial Statements for the Year Ended 31 March 2025 DONATIONS AND LEGACIES 2025 2024 Donations 26.365 47,240 26,365 47,240 OTHER TRADING AcfiviTIES 2025 2024 Shop sales Other income 1,148,707 20,734 1,169.441 1,142,494 19,126 1,161,620 INVESTMENT INCOME 2025 2024 Dividend income Deposit account interest 7,119 974 9,108 744 8,093 9,852 RAISING FUNDS 2025 2024 Portfolio management costs 1.282 1,282 CHARITABLE AcrivrriES COSTS Direct Grants Payable (note 8) Support costs 2025 Totals costs Charitable activities 45.342 26.368 202 71,912 Direct Grants Payable (note 8) Support costs 2024 Totals costs Charitable activities 46.287 91.931 240 138,458 Support costs include bank charges of £202 in the year {2024= £2401 20
Goingfor Bust Notes to the Financial Statements for the Year Ended 31 March 2025 GRANTS PAYABLE 2025 2024 Provision of help and 5UPPOrt for people diagnosed with breast cancer 26,368 91,931 Grants paid to institution5 University Hospitals Christchurch Forest Holme Hospice Charity Yeovil District Hospital University Hospitals Dorset NHS University Hospital Southampton Lewis Manning Hospice Care I5,(0 5,000 7,500 12,000 55,000 9,000 3,500 87,000 2,097 22,097 Grants paid to individuals 4,271 4,931 26,368 91,931 GOING FOR BUSTTRADING EXPENDITURE 2025 2024 Administrative expenses Depreciation Interest payable Tax payablellreceivablel 1,060.481 8.122 506 1,032,716 3,609 746 1341 1,037.037 1,069,109 21
Goingfor Bust Notes to the Financial Statements for the Year Ended 31 March 2025 10 NET INCOME/IExPENDUREj Net incomel{expenditure} is stated after charging/lcreditingl: 2025 2024 Depreciation - owned assets Auditors remuneration 8,122 7.980 3,609 7,600 11 TRusfEES' REMUNERATION AND BENEFtrs During the year ended 31 March 2025, trustee remuneration was £nil12024.' £nill. Trustees, expenses No trustees were reimbursed for expenses during the year ended 31 March 2025 {2024= £nill. 12 STAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 601,656 31,873 7.701 641,230 579,845 29,764 7,339 616,948 During the year ended 31 March 2025. redundancy amounts totalling £8,813 were paid to employees12024: £nill The average number of employees during the year was as follows: 2025 42 2024 43 Employees Key Management Personnel Key management personnel salaries for the year totalled £157.318 {2024'. £154,804). The trustees consider the key management personnel during the year to be those detailed on page 6. No employees received remuneration above £60,(KKJ in the year. 22
Goingfor Bust Notes to the Financial Statements for the Year Ended 31 March 2025 13 COMPARATIVES FOR THE StATEmETr OF FINANCIAL ACtIVThlES Unre5trirted fund5 Restrirted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 47,240 47,240 Charitable activities Going for bust trading income Investment income 1,161,620 9.852 1,161,620 9,852 Total 1,218,712 1,218,712 EXPENDrruRE ON Charitable activities Provision of help and support for people diagnosed with breast cancer 138,458 138,458 Going for Bust trading expenditure 1,037,037 1,037,037 Total 1,175,495 1,175,495 Net gains1{10sses) on investments 8,364 8,364 INCOME 51.581 51,581 Transfers between funds Tax on activities 34 34 Net movement in funds 51.615 51,615 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 781,026 832,641 781,026 832,641 23
Going for Bust Notes to the Financial Statements for the Year Ended 31 March 2025 14 TANGIBLE FIXED ASSEfs- Charity and Subsidiary Fixtures and fittings Motor vehicles Computer equipment Totals COST At l April 2024 Additions Disposals 4,305 16,454 22,570 2,350 23,109 22,570 At 31 March 2025 4,305 39,024 2.350 45,679 DEPRECIATION At l April 2024 Charge for year Eliminated on disposal 4,305 13,163 7,805 1,874 317 19.342 8,122 At 31 March 2025 4,305 20,968 2,191 27,464 NET BOOK VALUE At 31 March 2025 At l April 2024 18,056 3,291 159 18,215 3,767 476 TANGIBLE FIXED ASSEfs- Charity Fixtures and fittings Totals COST At l April 2024 Additions Disposals 797 797 At 31 March 2025 797 797 DEPRECIATION At l April 2024 Charge for year Eliminated on disposal 797 797 At 31 March 2025 797 797 NET BOOK VALUE At 31 March 2025 At l April 2024 24
Going for Bust Notes to the Financial Statements for the Year Ended 31 March 2025 15 FIXED ASSET 1NVEsfMEs- Charity and Subsidiary Shares in group undertakings Listed Investments Totals MARKET VALUE At l April 2024 Additions Revaluations 408,364 loo,000 39,652 408,364 loo,000 39,652 At 31 March 2025 548,016 548,016 NET BOOK VALUE At 31 March 2025 At l April 2024 548,016 408,364 548,016 408,364 FIXED ASSET INVESTMENTS- Charity Shares in group undertakin85 Listed Investments Totals MARKET VALUE At l April 2024 Additions Revaluations 408,364 loo,000 39,652 408,365 loo,000 39,652 At 31 March 2025 548,016 548,017 BOOK VALUE At 31 March 2025 At l April 2024 548,016 408,364 548,017 408,365 16 DEBTORS Charity and subsidiary 2025 2024 Charity 2025 2024 Amounts falling due within one year= Prepayments and accrued income VAT Amounts owed by group undertakings Tax 79,277 7,057 71,899 5,042 3,787 3,827 81,655 123,097 135 86,469 34 76,975 85,442 126,924 Amounts falling due after more than one year= Other debtors 1.792 1,792 Aggregate amounts 88,261 78,767 85,442 126,924 25
Going for Bust Notes to the Financial Statements for the Year Ended 31 March 2025 17 CASH AT BANK AND IN HAND Charity and subsidiary 2025 2024 Charity 2025 2024 Cash at bank Cash in hand 311.756 1,686 313.442 382,650 788 383,438 119,691 127,476 119,691 127,476 18 CREDITOR5: AMouTrifs FALLING DUE WITHIN ONE YEAR Charity and subsidiary 2025 2024 Charity 2025 2024 Bank loans and overdraft Trade Creditors Other creditors Social security and other taxes Hire Purchase Contracts Isee note 181 Accruals and Deferred Income 77 11.159 3.041 8.920 4.458 6.467 34,045 15.871 1,373 6,628 7,043 10.703 41,695 19 LEASING AGREEMENTS Minimum lease payments f311 due as follows: Hire purchase contrarts 2025 2024 Gross obligations repayable: Within one year Between one and five years 4,458 6,484 4,458 6,484 Finance charges repayable: Within one year Between one and five years 15591 15591 Net obligations repayable: Within one year Between one and five years 4,458 7,043 4,458 7,043 Tangible fixed assets on hire purchase agreements have a net book value of £nil12024: £3,291) as at the 31 March 2025. 26
Going for Bust Notes to the Financial Statements for the Year Ended 31 March 2025 19 LEASING AGREEMENTS- Continued Non-cancellable operating leases 2025 2024 Within one year Between one and five years In more than five years 199,083 512,583 245,000 956,666 229,250 588,333 134,667 952,250 The amount of non-cancellable operating lease payments recognised as an expense during the year was £229.25012024- £223,083). 20 MOVEMENT IN FUNDS Charity and subsidiary At 1.4.24 Incoming Resources resources expended Gains and losses Transfers At 31.3.25 Unrestrirted funds General fund Investment reserve fund 832,641 1,203,899 {1,142,3031 39,652 iioo,0001 loo,000 833,889 loo,000 933,889 832,641 1,203,899 {1,142,3031 39,652 TOTAL FUNDS 832.641 1,203.899 {1.142,303) 39,652 933,889 Charity Incoming Resources resources expended Gains and losses At 1.4.24 Transfers At 31.3.25 Unrestrirted funds General fund Investment reserve fund 662.765 123.927 {73.1941 39,652 iioo,0001 loo,000 653,150 loo,000 753,150 832.641 123.927 {73.1941 39,652 TOTAL FUNDS 662,765 123,927 {73,1941 39,652 753,150 27
Going for Bust Notes to the Financial Statements for the Year Ended 31 March 2025 20 MOVEMENT IN FUNDS- Continued COMPARATIVES Charity and Subsidiary Incoming Resources resources expended Gains and losses At 1.4.23 Transfers At 31.3.24 Unrestrirted funds General fund 781,026 781,026 1,218,712 {1,175,4611 1,218.712 {1.175,4611 8,364 8,364 832,641 832,641 TOTAL FUNDS 781,026 1,218,712 {1,175,4611 8,364 832,641 Charity Gains and losses At 1.4.23 Incoming Resources resources expended Transfers At 31.3.24 Unrestrirted funds General fund 607,410 607.410 185.449 185.449 1138.4581 1138.4581 8,364 8,364 662,765 662,765 TOTAL FUNDS 607,410 185,449 (138.4581 8,364 662,765 Fund descriptions Investment reserve fund - to act as future security regarding Going for Bust Transfer between funds A transfer between the general fund and the investment reseNe fund has been completed to recognise the funds set aside by the trustees to secure the future of the organisation. 21 RELATED PARTY TRANSAcfioNS Going For Bust Trading Limited is a 100% owned susidiary of Going for Bust. The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. not to disclose related party transactions with wholly owned subsidiaries within the group. During the year ended 31 March 2025, a trustee received payments for repair and maintenance works made through the subsidiary trading company. Transactions for the year ended 31 March 2025 totalled £1,40212024'. £9151 of which £nil12024: £nill remained payable at the year end. During the year ended 31 March 2025, no trustees12024: 11 donated a total of £nil {2024.'£1551 to the charity. 28
Going for Bust Notes to the Financial Statements for the Year Ended 31 March 2025 22 DEFINED CoPRIBUTION PENSION Employer contributions to defined contribution pension schemes in the year totalled £7,70112024: £7,339). 23 PARENT/SUBSIDIARY RELATIONSHIP The Charity discharges part of its charitable objectives through its subsidiary, Going for Bust Trading Limited, which is responsible for the day to day running of the charity shops and undertakes the associated trading activities. Going For Bust Trading Limited is a 100% owned susidiary of Going for Bust. Full entity level financial statements for Going For BustTrading Limited1086732051 can be found on Companies House. An extract from the Balance Sheet of Going for Bust Trading Limited at 31 March 2025 is as follows:_ 2025 2024 Fixed assets Current assets Current liabilities Total assets less current liabilities 18,215 278,230 1115,7011 180,744 3,768 330,828 1164,7161 169,880 Creditors due in more than one year Net current assets 180,744 169,880 Called up share capital lowned by charity) Profit and loss account 180,743 180,744 169,879 169,880 Gross income for the year Gross expenditure for the year Tax Iduel/receivable on profit Surpluslldeficitl for the year 1,170,399 1,162,340 11,159,535) 11,166,112) 34 13,7381 10,864 29