**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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|