BY
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Company registration number: 9017447 Charity registration number: 1159320
## TheGivingMachine
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024
Hopper & Co Chartered Accountants & Registered Auditors 6 Doagh Road Ballyclare Co Antrim BT39 9BG
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TheGivingMachine
,
Contents
Reference and Administrative Details 1
Trustees' Report 2to5
Independent Examiner's Report . 6
Statement of Financial Activities ' 7
Balance Sheet : 8
Notes
to the Financial Statements , 9 to 19
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1
## TheGivingMachine
## Reference and Administrative Details
## Trustees
## MrN Ahmed
Mrs R Jackson Mr M J Manning Senior Management / Leadership Mr R Morris, CEO Team
Charity Registration Number
## Company Registration Number
## Registered Office
## Independent Examiner
.
1159320
9017447,
The charity is incorporated in England. 14A Grange Park Bishop's Stortford Hertfordshire CM23 2HX
Hopper & Co Chartered Accountants & Registered Auditors 6 Doagh Road Ballyclare Co Antrim BT39 9BG
(
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## TheGivingMachine
## Trustees’ Report
The trustees, who are directors for the purposes of company lav, present the annual report together with the financial statements ofthe charitable company for the year ended 31 December 2024.
## Objectives and activities
## Objects and aims
The charity's objectives are to enable giving to be an inclusive behaviour choice for everyone who buys online to generate free donations for the UK based charitable causes oftheir choice.
## Public benefit
To promote the efficiency and effectiveness of charities, not for profit organisations and voluntary organisations in particular, but not exclusively, by promoting charitable giving through giving services which apply technology and behavioural science, providing training, advice and support to charities in the use of communication media and promoting volunteering by donors and prospective donors to charities for the public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing these financial statements. The charity has a net liabilities position at the year end but the trustees remain confident that sufficient resources will be available as debt finance to fund any shortfalls.
l
## Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
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Trustees:
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MrN Ahmed
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Mrs R Jackson
Mr M J Manning (appointed 20 February 2024)
Mr M Thomas (resigned 5 December 2024) Mr P M Butterworth (resigned 10 July 2024) Mr M Rogers (resigned 20 February 2024)
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Senior Management / Leadership Mr R Mons, CEO
Team:
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## Structure, governance and management
## Nature ofgoverning document
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The Charity’s governing document is the Memorandum and Articles ofAssociation. In the event ofthe company
being wound up Trustees are required to contribute £1.
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, TheGivingMachine
## Trustees’ Report
## Recruitment and appointment oftrustees
Under the requirements of the Memorandum and Articles ofAssociation the Trustees of the Charity are elected to serve fora pericd of up to three years after which they must be re-elected.
The Charity seeks to ensure that Trustees with a range of experience from within the business profession serve on the Board. In the event of particular skills and experience being lost due to retirement, individuals are approached to offer themselves for election to the Charity.
## Trustees can serve up to 3 terms of 3 years after which they must stand down.
## Induction and training oftrustees
Most Trustees are familiar with the role of the charity through their Trusteeship of the charity. New Trustees are provided relevant information and are briefed on their legal obligations and responsibilities as Trustees of a charity
## Organisational structure
The Charity is managed and directed by its Trustees. Once Trustees are elected, they serve for up to a term of 3 years and meet at least four times a year.
## Major risks and management of those risks
## Risk Management
ThewhichCharitythe charityhas aisriskexposed,managementin particularstrategy thosein relatedplace which to the comprises operationsanandannual financesreviewof theof company, andthe major risks theto establishment ofsystems and procedures to mitigate those risks The Trustees are satisfied that systems are in place to mitigate exposure to the major risks. A key element in the management offinancial riskis the setting of a reservespolicy andits regular review by trustees
## Financial instruments
## Objectives andpolicies
The charity's activities expose it to a number offinancial risks including credit risk, cash flow risk and liquidity risk.
## Cashflow risk
Interest bearing assets and liabilities are held at fixed rates to ensure certainty ofcash flows.
## Credit risk
## The charity’s principal financial assets are bank balances and cash.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
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TheGivingMachine
Trustees' Report
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## Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.
## Funds held as custodian trustee on behalf of others
Included within current assets and creditors are amounts relating to beneficiary allocations held by the charity. These amounts have been ring-fenced by the trustees and may be paid in line with the charity's policy on charitable payments.
Statement of trustees’ responsibilities
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The trustees (who are also the directors ofTheGivingMachine for the purposes of company law) are responsible
for preparing the trustees’ report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS
102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. The report and accounts
have been prepared in eccordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law
the trustees must not approve the financial statements unless they are satisfied that they 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 its income and expenditure, of the charitable company for that period. 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 accounting standards, comprising FRS 102 have been followed, subject to any
material departures disclosed and explained in the financial statements; and
¢ charitablepreparethe companyfinancialwillstatementscontinue onin business.the going concer basis unless it is inappropriateto presume that the
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any time the financial position ofthe charitable company and 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
company and hence for taking reasonable steps for the prevention and detection offraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable company's website. Legislation governing the preparation and dissemination of
financial statements may differ from legislation in otherjurisdictions.
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Small companies provision statement
This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.
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## TheGivingMachine
## Trustees’ Report
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The annual report was approved by the trustees ofthe charity on 7 October 2025 and signed on its behalf by:
,
Mur ALA
Mr
N Ahmed
Trustee
1
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## TheGivingMachine
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Independent Examiner's Report to the trustees of TheGivingMachine (‘the Company')
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I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
## Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation ofthe accounts in accordance with the requirements ofthe Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the 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 2011 (‘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 Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member ofChartered Accountants Ireland, which is one ofthe listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of TheGivingMachine as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
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3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities [applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102)].
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- 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 ofthe accounts to be reached.
Chartered Accountants & Registered Auditors Chartered Accountants Ireland
6 Doagh Road Ballyclare Co Antrim BT39 9BG
- 7 October 2025
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## TheGivingMachine
## Statement of Financial Activities for the Year Ended 31 December 2024 (including Income and Expenditure Account and Statement ofTotal Recognised Gains and Losses)
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Unrestricted Total
funds 2024
Note & £
Income and Endowments from:
Donations and legacies 3 59,796 59,796
Charitable activities 4 308,615 308,615
Investment income 5 146 146
Other income 539,137 539,137
Total income 907,694 907,694
Expenditure on:
Charitable activities 6 (303,790) (303,790)
Total expenditure (303,790) (303,790)
Net income 603,904 603,904
Net movement in funds 603,904 603,904
Reconciliation of funds
Total funds brought forward (525,662) (525,662)
Unrestricted Total
, funds 2023
, Note £ £
Income and Endowments from:
Donations and legacies 3 43,070 43,070
Charitable activities 4 263,047 263,047
Investment income 5 79 79
Total income 306,196 306,196
Expenditure on:
Charitable activities 6 (316,642) (316,642)
Total expenditure (316,642) (316,642)
Net expenditure (10,446) (10,446)
Net movement in funds (10,446) (10,446)
Reconciliation of funds
Total funds brought forward (515,216) 515,21
Total funds carried forward 20 $25,662 ee (925,662)
All ofthe charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 20.
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The notes on pages 9 to 19 form an integral part of these financial statements. Page 7
## TheGivingMachine
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(Registration number: 9017447)
Balance Sheet as at 31 December 2024
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||||||
|---|---|---|---|---|
|£|£|
|Note|2024|2023|
|Fixed assets|,|
|Intangible|assets|13|:|13,013|
|Tangible assets|14|3,259|2,471|
|3,259|15,484|
|Current assets|
|Debtors|15|600|1,093|
|Cash at bank and in hand|16|78,204|33,322|
|78,804|34,415|
|Creditors: Amounts|falling due within one year|17|(3,821)|(36,424)|
|Net current assets/(labilities)|74,983|(2,009)|
|Total assets less current abilities|78,242|13,475|
|Creditors: Amounts|falling due after more than one year|18|io|(539,137)|
|Net assets/(liabilities)|78,242|(525,662)|
|Funds of the charity:|
|Unrestricted|income|funds|
|Unrestricted|funds|78,242|(525,662)|
|Total funds|20|78,242|(525,662)|
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For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 ofthe Companies Act 2006 relating to small companies.
## Directors’ responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- ° The directors acknowledge their responsibilities for complying with the requirements ofthe Act with respect to eccounting records and the preparationof accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 ofthe Companies Act 2006.
The financial statementson pages 7 to 19 were approved by the trustees, and authorised for issueon 7 October 2025 and signed on their behalf by: .
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Mr N Ahmed
Trustee
The notes on pages 9 to 19 form an integral part of these financial statements.
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TheGivingMachine
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Notes to the Financial Statements for the Year Ended 31 December 2024
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## 1 Charity status
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The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each
ofthe [ trustees] [is] [liable][ to contribute][ an][ amount][ not][ exceeding][ £1] [towards][ the][ assets][ of][ the][ charity][ in][ the][ event][ of]
liquidation.
The address of its registered office is:
14A Grange Park
Bishop's Stortford
Hertfordshire
CM23 2HX
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These financial statements were authorised for issue by the trustees on 7 October 2025.
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2 Accounting policies
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Summary ofsignificant accounting policies and key accounting estimates
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The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.
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## Statement of compliance
The financial statements have been prepared in accordance with 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 ofIreland (FRS 102)) (issued in October 2019) + (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## Basis of preparation
:
TheGivingMachine meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
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Going concern
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## The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval ofthe financial statements.
## Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount ofthe income receivable can be measured reliably.
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
## Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
## Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees'’s' meetings and reimbursed expenses.
## Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and charitytherefore it meets the definition ofa charitable company for UK corporation tax purposes. Accordingly, the coveredisbypotentiallyChapter 3 exemptPart 11 fromof thetaxation Corporationin respect Tax Act 2010of income oror Sectioncapital256gainsofthereceived Taxationwithinof Chargeablecategories Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate ofthe useful life cannot be made.
## Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost.
## Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
## Asset class
## Goodwill
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Amortisation method and rate
10% Straight Line
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## Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
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|||
|---|---|
|Asset class|Depreciation method and rate|
|IT Systems|25% Straight Line|
|Fixtures & Fittings|25% Straight Line|
|Computers|25% Straight Line|
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## Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms ofthe receivables.
## Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting pericd, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period ofthe relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has en unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
## Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives ofthe charity.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions sre paid into a pension fund and the charity has no legai or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement ofFinancial Activities when they are due. Ifcontribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## 3 Income from donations and legacies
|||||Unrestricted||
|---|---|---|---|---|---|
|||;||funds
General|Total
funds|
|||||£|£|
|Donationsandlegacies;||||||
||Donations from individuals|||59,796|59,796|
|Totalfor2024||||59,796,|_59,796,|
|4|Incomefromcharitable activities|||||
|||||Unrestricted||
|||||funds
General
£|Total
funds
£|
||CharitableActivities|||308,615|308,615|
|Total for2024
Total for2023||||208,615,
263,047,_|_308,615.
_263,047,|
|§|Investment income|||||
||||.|Unrestricted||
|||||funds
General
£|Total
funds
£|
|Interestreceivableandsimilarincome;||||.||
||Interestreceivableonbankdeposits|||14460|146|
||.|||||
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
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6 Expenditure on charitable activities ;
Unrestricted
funds Total
General funds
. Note £ £
Charitable Activities 243,623 243,623
Depreciation, amortisation and other similar costs 14,265 14,265
Staff costs 29,233 29,233
Allocated support costs 7 14,669 14,669
Governance costs 7 2,000 2,000
Total for 2024 —— 303,790, _ 303,790.
Total for 2023 216642, _ 316,542,
Total
expenditure
£
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In addition to the expenditure analysed above, there are also governance costs of £2,000 (2023 - £1,800) which relate directly to charitable activities. See note 7 for further details.
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
## 7 Analysis ofgovernance and support costs
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||||||||
|---|---|---|---|---|---|---|
|Support costs allocated to charitable activities|
|Other|
|Finance|Administration|support|Total|
|costs|costs|costs|funds|
|Basis of|allocation|F|3|£|£|£|
|Giving Machine|A|7,709|3,295|3,665|14,669|
|Total for|2023|11,993|2,291|1,011|15,295|
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## Basis of allocation
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|||||||
|---|---|---|---|---|---|
|Reference|Method of|allocation|
|A|100% charitable Activity|
|Governance|costs|
|Unrestricted|
|funds|Total|
|General|funds|
|£|£|
|Independent examiner fees|
|Examination ofthe financial statements|2,060|2,000|
|Total for|2024|2,000|2,000|
|Total for 2023|1,800|1,800|
|8|Net incoming/outgoing|resources|
|Net incoming/(outgoing)|resources|for the year include:|
|2024|2023|
|£|£|
|Depreciation offixed assets|1,252|1,067|
|Amortisation ofgocdwill|13,013|13,006|
|9|Trustees|remuneration|and expenses|
|No trustees,|nor any persons connected with them, have|received any remuneration|from the|charity|during the|
|year.|
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'
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## 10 Staff costs
The aggregate payroll costs were as follows:
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TheGivingMachine
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Notes to the Financial Statements for the Year Ended 31 December 2024
2024
z
Staff costs during the year were:
Wages and salaries 28,510
Pension costs 73
29,233
No employee received emoluments ofmore than £60,000 during the year.
11 Independent examiner's remuneration
2024 2023
£ £
Examination of the financial statements eee 22000, ceca 2800
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
, 12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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|||||||
|---|---|---|---|---|---|
|13|Intangible fixed assets|
|Goodwill|Total|
|£|£|
|Cost|
|At|1|January 2024|130,067|130,067|
|At 31 December 2024|130,067|130,067|
|Amortisation|
|At|1|January 2024|117,054|117,054|
|Charge for the year|13,013|13,013|
|At31 December 2024|130,067|130,067|
|Net book value|
|At 31|December 2024|:|e|
|At 31 December 2023|13,013|13,013|
|14|Tangible fixed assets|
|Furniture and|
|equipment|Total|
|£|£|
|Cost|
|At|1|January 2024|405,223|405,223|
|Additions|2,040|2,040|
|At 31 December 2024|407,263|407,263|
|Depreciation|
|At|1|January 2024|\|402,752|402,752|
|Charge for the year|1,252|1,252|
|At 31 December 2024|404,004|404,004|
|Net book value|
|At 31 December 2024|3259, _|3.259|
|At 31|December|2023|2,2|
|15|Debtors|
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
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2024 2023
£ £
Trade debtors 600 -
Prepayments : 1,093
600 1,093
16 Cash and cash equivalents
2024 2023
£ &
Cash at bank 78,204 33,322
,
17 Creditors: amounts falling due within one year
2024 2023
£ £
VAT (2,685) (914)
Other creditors 828 31,105
Accruals 5,678 6,233
3,821 36,424
18 Creditors: amcunts falling due after one year
2024 2023
£ £
Other loans : 539,137
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Included within borrowings is an amount of£NIL (2023: £250,000). The repayment terms for this loan have not been set and in July 2024 the lender entered into a loan forgiveness deed releasing the charity from its obligations to repay the loan amount. Included within borrowings is an amount of£NIL (2023: £26,000). The repayment terms are £8,000 per annum and interest is not accuring on it. In July 2024 the lender entered into a loan forgiveness deed releasing the charity from its obligations to repay the loan amount.
Included within borrowings is an amount of£NIL (2023: £114,137). The repayment terms for this loan have not been set and interest is accruing at a rate of3% over UK base rate per annum. In July 2024 the lender entered into a loan forgiveness deed releasing the charity from its obligations to repay the loan amount.
Included within borrowings is an amount of ENIL (2023: £149,000). The repayment terms have been calculated so as to ensure that the loan is repaid on an increasing scale basis and in full by 30 November 2023. The first repaymentwas due in February 2020. Interest is eccuring on the loan in arrears and at a maximum rateof 9% per annum. The loan is secured by a first ranking debenture creating a fixed and floating charge over all assets of the charity, a legal assignment over a key man life policy and a legal assignment over TheGivingMachine trademark. In July 2024 the lender entered into a loan forgiveness deed releasing the charity from its obligations to repay the loan amount.
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
## 19 Pension and other schemes
## Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £723 (2023 - £Nil).
## 20 Funds
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Balance at
Balance at 1 Other 31
January Incoming Resources recognised December
2024 resources expended _gains/(losses) 2024
£ £ £ £ £
Unrestricted funds
General (525,662) 368,557 (303,790) 539,137 78,242
Balance at 31
Balance at 1 Incoming Resources December
January 2023 resources expended 2023
£ £ £ : £
Unrestricted funds
General (515,216) 306,196 (316,642) (525,662)
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## TheGivingMachine
## Notes to the Financial Statements for the Year Ended 31 December 2024
## 21 Analysis ofnet assets between funds
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|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|Total funds at|
|funds|31 December|
|General|2024|
|£|£|
|Tangible fixed assets|3,259|3,259|
|Current assets|78,804|78,804|
|Current|liabilities|G,821)|(3,821)|
|Total net assets|822,|
|Unrestricted|Total funds at|
|funds|31 December|
|General|2023|
|£|£|
|Intangible fixed assets|13,013|13,013|
|Tangible fixed assets|2,471|2,471|
|Current assets|34,415|34,415|
|Current|liabilities|(36,424)|(36,424)|
|Creditors over|1 year|(539,137)|(539,137)|
|Total net assets|$25,662|$25,662|
|,|
|22|Analysis of|net funds|
|At31|
|At|1 January|December|
|2024|2024|
|£|£|
|Cash at bank and in hand|33,322,|33,322,|
|Net|debt|232, 8At31|
|Atl January|Financing cash|December|
|2023|flows|2023|
|£|£|£|
|Cash at bank and in hand|42,753|(9,331)|__33,422,|
|23|Related party transactions|
|There|were|no|related|party|transactions in|the|year.|
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