REGISTERED CHARITY NUMBER: 1157505
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for LoveBrum
CJM Associates 2nd Floor, Lakeside Point, Lakeside Business Park Walkmill Way Cannock Staffordshire WS11 0XE
LoveBrum
for the Year Ended 31 March 2024
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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
Objectives and aims
The Charity aims to provide support and assistance in the form of grants and financial support to other charities and voluntary organisations in the city of Birmingham and its surrounding area, also extending to members of the public in these areas.
In order to achieve the above, the charity receives support and donations from individuals and businesses in the Birmingham area. It also generates income and donations from organising fundraising events throughout the year.
LoveBrum promotes the City increasing civic pride.
ACHIEVEMENT AND PERFORMANCE
During a difficult period post COVID-19, the charity faced challenges due to the negative impact businesses suffered as a result of COVID-19 and wider financial issues. However, the charity achieved a successful year as a result of the strong relationships with its donors and the goodwill built up within the corporate sector.
LoveBrum is not just about raising funds for charities, in fact the biggest value comes from the profile and support we give to the causes. We amplify their voice through events and social media and promote their voluntary posts to our corporate community.
Much time and effort was spent on re-branding the charity and reviewing its strategy. We designed and articulated our hidden heroes campaign where 8 charities per year are promoted within the four pillars of focus; People in Crisis, Mental health, Social injustice and Serious Crime. We launched a new website too, however there is still work to be done in this area.
The charity is very lean, and as a result is often time and resource poor. Some services are supplied by supporting companies in return for a service patron package, keeping our operational costs to a minimum. The Trustees are all voluntary. The charity is registered at Hollywood Monster address, who does not charge for any rent or storage.
FINANCIAL REVIEW
-
The charity achieved a surplus on both restricted and unrestricted funds during the period
-
The balance sheet reserves at the end of the period were £75,236
-
Moving forward in the 2025 financial year the charity has made some significant changes to streamline process and increase efficiency, which in turn should increase the level of support it can provide.
FUTURE PLANS
Plans to build on the success achieved during a difficult period include increasing the fundraising profits as well as increasing the number of supporting companies, exploring raising funds via grants and other institutions to maximise the impact it has for its target beneficiaries.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1157505
Page 1
LoveBrum
Report of the Trustees for the Year Ended 31 March 2024
Principal address C/O Hollywood Monster Redgern Park Way Tyseley Birmingham B11 2BF
Trustees
T Andrews H Floyd (appointed 1.6.24) M Shepherd J E Seabright
Independent Examiner CJM Associates 2nd Floor, Lakeside Point, Lakeside Business Park Walkmill Way Cannock Staffordshire WS11 0XE
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Trustee
Page 2
Independent Examiner's Report to the Trustees of LoveBrum
Independent examiner's report to the trustees of LoveBrum
I report to the charity trustees on my examination of the accounts of LoveBrum (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Craig Moore
The Association of Chartered Certified Accountants
CJM Associates 2nd Floor, Lakeside Point, Lakeside Business Park Walkmill Way Cannock Staffordshire WS11 0XE
Date: .............................................
Page 3
LoveBrum
Statement of Financial Activities
for the Year Ended 31 March 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 47,427 Other trading activities 2 9,683 Total 57,110 EXPENDITURE ON Raising funds 3 48,012 Other 57 Total 48,069 NET INCOME/(EXPENDITURE) 9,041 RECONCILIATION OF FUNDS Total funds brought forward (74,621) TOTAL FUNDS CARRIED FORWARD (65,580) |
Restricted funds £ 45,655 6,356 52,011 25,440 - 25,440 26,571 114,245 140,816 |
31.3.24 Total funds £ 93,082 16,039 109,121 73,452 57 73,509 35,612 39,624 75,236 |
31.3.23 Total funds £ 54,444 35,434 89,878 125,038 - 125,038 (35,160) 74,784 39,624 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
LoveBrum
Balance Sheet
31 March 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 7 235 CURRENT ASSETS Debtors 8 15,481 Cash at bank and in hand (69,881) (54,400) CREDITORS Amounts falling due within one year 9 (11,415) NET CURRENT ASSETS/(LIABILITIES) (65,815) TOTAL ASSETS LESS CURRENT LIABILITIES (65,580) NET ASSETS (65,580) FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 140,816 140,816 - 140,816 140,816 140,816 |
31.3.24 Total funds £ 235 15,481 70,935 86,416 (11,415) 75,001 75,236 75,236 (65,580) 140,816 75,236 |
31.3.23 Total funds £ - 32,761 50,819 83,580 (43,956) 39,624 39,624 39,624 (74,621) 114,245 39,624 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 5
LoveBrum
Notes to the Financial Statements for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
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.
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 - 33% on cost Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
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 charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 6
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
2. OTHER TRADING ACTIVITIES
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| £ | £ | ||
| Events Income | 7,447 | 2,943 | |
| Other Revenue | 8,592 | 32,491 | |
| 16,039 | 35,434 | ||
| RAISING FUNDS | |||
| Raising donations and legacies | |||
| Event Costs | 31.3.24 £ 2,712 |
31.3.23 £ 10,158 |
|
| Support costs | 54,878 | 66,579 | |
| 57,590 | 76,737 | ||
| SUPPORT COSTS | |||
| Raising donations and | Management Finance Other £ £ £ |
Governance costs £ |
Totals £ |
| legacies | 39,346 330 477 |
14,725 | 54,878 |
3. RAISING FUNDS
4. SUPPORT COSTS
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 15,040 Other trading activities 31,927 Total 46,967 EXPENDITURE ON Raising funds 72,686 |
Restricted funds £ 39,404 3,507 42,911 52,352 |
Total funds £ 54,444 35,434 89,878 125,038 |
|---|---|---|
continued...
Page 7
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| NET INCOME/(EXPENDITURE) | (25,719) | (9,441) | (35,160) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | (48,902) | 123,686 | 74,784 | |
| TOTAL FUNDS CARRIED FORWARD | (74,621) | 114,245 | 39,624 | |
| 7. | TANGIBLE FIXED ASSETS | |||
| COST | Fixtures and fittings £ |
Computer equipment £ |
Totals £ |
|
| At 1 April 2023 | 1,954 | 1,689 | 3,643 | |
| Additions | 291 | - | 291 | |
| At 31 March 2024 | 2,245 | 1,689 | 3,934 | |
| DEPRECIATION | ||||
| At 1 April 2023 | 1,954 | 1,689 | 3,643 | |
| Charge for year | 56 | - | 56 | |
| At 31 March 2024 | 2,010 | 1,689 | 3,699 | |
| NET BOOK VALUE | ||||
| At 31 March 2024 | 235 | - | 235 | |
| At 31 March 2023 | - | - | - | |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| Trade debtors | 31.3.24 £ 10,500 |
31.3.23 £ 32,150 |
||
| Other debtors | 542 | - | ||
| VAT | 3,256 | - | ||
| Prepayments | 1,183 | 611 | ||
| 15,481 | 32,761 | |||
continued...
Page 8
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Taxation and social security Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds RESTRICTED Cash For Kids TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds RESTRICTED Cash For Kids TOTAL FUNDS |
At 1.4.23 £ (74,621) 114,245 - 114,245 39,624 Incoming resources £ 57,110 29,761 22,250 52,011 109,121 |
31.3.24 31.3.23 £ £ 433 1,371 232 1,613 10,750 40,972 11,415 43,956 Net movement At in funds 31.3.24 £ £ 9,041 (65,580) 5,321 119,566 21,250 21,250 26,571 140,816 35,612 75,236 Resources Movement expended in funds £ £ (48,069) 9,041 (24,440) 5,321 (1,000) 21,250 (25,440) 26,571 (73,509) 35,612 |
|---|---|---|
continued...
Page 9
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.22 £ Unrestricted funds General fund (48,902) Restricted funds RESTRICTED 123,686 TOTAL FUNDS 74,784 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 46,967 Restricted funds RESTRICTED 42,911 TOTAL FUNDS 89,878 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.22 £ Unrestricted funds General fund (48,902) Restricted funds RESTRICTED 123,686 Cash For Kids - 123,686 TOTAL FUNDS 74,784 |
Net movement At in funds 31.3.23 £ £ (25,719) (74,621) (9,441) 114,245 (35,160) 39,624 Resources Movement expended in funds £ £ (72,686) (25,719) (52,352) (9,441) (125,038) (35,160) Net movement At in funds 31.3.24 £ £ (16,678) (65,580) (4,120) 119,566 21,250 21,250 17,130 140,816 452 75,236 |
|---|---|
continued...
Page 10
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds RESTRICTED Cash For Kids TOTAL FUNDS |
Incoming resources £ 104,077 72,672 22,250 94,922 198,999 |
Resources Movement expended in funds £ £ (120,755) (16,678) (76,792) (4,120) (1,000) 21,250 (77,792) 17,130 (198,547) 452 |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 11
LoveBrum
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 2 | (3) |
| Donations | 54,021 | 13,875 |
| Memberships | 36,459 | 40,572 |
| Donated services and facilities | 2,600 | - |
| Other trading activities | 93,082 | 54,444 |
| Events Income | 7,447 | 2,943 |
| Other Revenue | 8,592 | 32,491 |
| 16,039 | 35,434 | |
| Total incoming resources | 109,121 | 89,878 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Event Costs | 2,712 | 10,158 |
| Other trading activities | ||
| Purchases | 3,893 | 12,801 |
| Charitable Donations | 11,969 | 35,500 |
| Other | 15,862 | 48,301 |
| Fixtures and fittings | 57 | - |
| Support costs | ||
| Management | ||
| Wages | 31,687 | 41,164 |
| Pensions | 143 | 855 |
| Travel Costs | 2,835 | 7,305 |
| IT Costs | 3,736 | 3,974 |
| Advertising | 513 | 889 |
| Subscriptions | 432 | 4,656 |
| 39,346 | 58,843 | |
| Finance | ||
| Bank charges | 330 | 132 |
This page does not form part of the statutory financial statements
Page 12
LoveBrum
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Finance | ||
| Other | ||
| Postage and stationery | 477 | 740 |
| Governance costs | ||
| Independent Examination Fees | 1,350 | - |
| Auditors' remuneration for non audit work | - | 1,300 |
| Bookkeeping | 3,900 | 3,450 |
| Insurance | 1,437 | 1,439 |
| Payroll | 300 | 300 |
| Telephone | 312 | 46 |
| Legal Expenses | - | 329 |
| Consulting | 7,426 | - |
| 14,725 | 6,864 | |
| Total resources expended | 73,509 | 125,038 |
| Net income/(expenditure) | 35,612 | (35,160) |
This page does not form part of the statutory financial statements
Page 13
LoveBrum
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |