CHANGING LIVES CHARITY . giving hope and afuture CHANGING LIVES CHARITY Trustees. Annual Report & Financial Statements for the year ended 30 September 2024 A Company Limited by Guarantee and a Registered Charity Company Regislralion No 9517906 Charity Registration No 1161892
CHANGING LIVES CHARITY . giving hope and a fulure COEs Page Off icers and Piofessional Advisers Annual Report ol the Trustees Independenl Examinerfs ReF¥)rt io Statement ol Financial Activities 12 Balance Sheet 13-14 Statement ol cash Ibws 15 Notes lo the Financial Statements 16-24
CHANGING LIVES CHARITY . giving hope and a fulure OFFICERS AND PROFESSIONAL ADVISERS Company Number 9517906 Charlly Number 1161892 Reglstered ofiice Unit 2a, Kifflberfey Fbaj. Cleve(k)n, North Somersel BS216aJ Trustees (who are also directors for the purposes of Company law) Daniel sib1h0 {(Jr lan Bumham FCA Terry Mears- Secretary Jennifer Schaefer Cattrffta Ak*MnkJelawinled 23 January25) Marbn KnhJhl lawDnted 23 Jwary 20251 Bankers for Changing Llves Charlty CAF Bank Limiied. 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 Lloyds Bank plc. Cleve(k)n Branch Independent Examlner Gravifa. Charter&1 Accountants. Bath House, 6-8 Bath Street, Bristol. BS16HL Other Professlonal Advisors Stralegr Policy AdVe & &pport Rev Stephen Foer, Moollng, Upper Godney, Wells, BA5 1 RX IT & Web Solulions Worthers Lld, Long Bam, Folly Farm, fenharn. 8rislol, BS21 6RY Policy Advisors Cornerslone Resources Ltd, Trinity Htsuse, Newby Road.Stockport, SK7 5DA
CHANGING LIVES CHARITY . giving hope and a future CHANGING LIVES CHARITY Report of the Trustees for the year ended 30 Septemter 2024. The Trustees are eaSed to present their rew)rt togetlEr with the finla1 statements ol the Charity lor the year ended 30 Septemter 2024. The financial StatemlS compty wtth Ihe re(BJirèTrntS ol the Charilies Act 2011. the Qjmpanies Act 2006, the Articles Memorandum ol A$$¥atIOn ol Ihe Company arKI the Statement ol RecommerKJed Practice aKplrable to chatilies preparing their aCU[S in accordance with the Financial Reporting Standar(1s a&able in the UK arKI FlepUlA of Ireland IFRS1021 leffective 1 January 20191. Charitable Object The object ol the Charity is Ihe relief ol thjse Thi need by reason of youth. age, ill-health, disability, financial hardship or other social or economic di8advantage-. Included Én Ihe Artides ol Association are the powers t(> make grants, (k)nations, 01 ltsans to organisal%)ns whKth further the aitll5 Of Chafuing Lives Chartty. The current range of the Cthartty is throughout the whole of North Somerset. Vision The vision is to serve the edS ol a wKle raroe ol marginalised men. women, and youThJ adulis from a variety ol backgrounds who lace barriers to employtTEnt arld a lulfillirvJ, independent life_ We do this by.. providing high quajity workplace trainiThJ and emrloyment OHnunitieS (by volunieeiiwl to equip thetn to assume a lullillin9 lrfe in the c(xntnunrty- offering access to a range ol therapeutic suppN)rt including a mentor. to facilitate their recovery: expar¥Jing the Socid Enterlse lo increase our capacity to meet the growing demand from ihose in need ol help.. mthng avalatle suitable," sale, supported accommodation lo those joinir¥J the woik-based recovery wogratnme wlv) are cuirently homele55 or al risk ol becoming h(xneless. It is understood Ihal many addictNe behavh)urs are a result ol chronr trauma in early devek)pmental years. Trauma may take many lonns." abuse lol all ty$1, negle¢i, 55 of a 5ignih¢anl person or carer. These experiences result in lastiThJ Kl)ysioltsJil th psyth0gl damage leading to pertnanenf heallh. relational, ar social disadvarhtage_ The Charity has reaffimed ils aim to enable those affected to Iwe fullillirKJ lives atKI contrthwte to the wellbeirMJ of the cofflmunity. These aims are expressed in the Business and Irwesttnenl Plan. puUish&l on 15 November 2021 aTrJ updated in 2024. The plan describes the melho(ts by whid) the vtsin will be met and sets out the resOUrS required and the fflean5 by which those resources 11 be gared. It introduces and describes the programme Volunteer Plus IV+l. which is the serVe wovisKTrn delivering the care lor the Charity's suptx)rted volunteers. This seNiTr is headed by a manager skilkd eXperIend in the conditions which the volunteers generally display, a part-time suprx)rt V+od(er apKK)inted to assist the development ol this entervisi initiative. Men and women enter the scheme loN(>wng assessment lo ascertain tFEir ability to benefit from the therapeut service on ofter_ After signrficant refurbishment during 2022. resklential places at Andrew House came on stream in Decembw 2022. These places are restricted to men and limited to 11 al any one time. Non-resident clients, men a1 women, loY access to all the therapy suprK)rt serM¢6s and the limit on the potential lor growth in their numlkrs is the availability ol trained tnentors. VolunteeT Plus IV+) 15 a workplace pfogramrne of vdunleemg, altIon training combined with suprortive therapeutic inpLJI and the offer ol a mentor lo accompany the ¢lient throughout the programme and beyorKI. This employability wogramtne is coffltx)sed of eMentS that have also been
CHANGING LIVES CHARITY . giving hope and a future shown to facilitate permanenl tha1, FHsonal deve&)Fment, arKI improved heallh outcomes. The ol the programme is to equip the person lor itKlependent INillg. etnpk)yment, and a lullilling life. The Jrpose ol a residential comFx)nenl at Andrew House, Clevedon, is lo pyovide sale. SUPPDrted housing lor eligible participants ol Volunteer Plus. 11 also provides a greater level of supkK>rt availatAe only within a close community su¢h as Andrew House provides. Thi8 prowsion is relevant for those who wish to join the progratnme who Currently live remotely Irom Clevedon, have m salislactory accommodation. or need to escape the damaging S81 nelworks to which they ¢urrenlly belong to enaNe recovery to take firm root. We have been pleased to see some of the first ol our resi(knls move on,. either back to their families or inlo irKlepErKlent living ihi5 year atKI we are q)erating at aroijnd 80°k Capacity. Mlssion Piloted in the Summer 012019 the V+ programme saw the intr(KluctK)n of th6 worktAace, educabon. training, and employment IvolunteerirvJl wogramme, based in the Charitls hub in Kimtdey Road, Clevedon. This is a unKiue programme and olfers a holis approach lo trauma related ackliclions. The programme wll be m&ntained and developed to ensure greater reach into the community. Andrew House forms an impKJrtarht part of the devekv1j ministry pr(yJramme, and integrates with V+, offering the benefits ol a therapeutic cofflmunity for those who require sale place to live and a greater level ol SUPKX)rt as they iecover their atrmlity lo manage a tenarcy ol their own. During Ihe year the house gradually filled, and we ¢an ieKK)rt a numtrEr ol ¢)utcomes and relatively lew relapse5. We conlinLJe to receive erwuragirKJ testimony fr resKlents on the quality ol the care and counselliro they recewe. The Community Hub is a fresh vision ar inspiraliw arising Iiom work by Trustees. aided by prolessional support. This has resultL¥J in a(bplirwJ. as a key element of its vision, the concept ol a 'Comtnunrfy Hub. defined as follows'."An Inspiratjnal destinatson space ith retail space, community cafe, workshop I learning spa¢e ar a productNe walled garden. Through the development of the Community Hub, Char¥Jing LNes Charity would b0[e a unNue projeci leading Ihe way in translorrnative healing programmes-. The proKEty oc(xJpied by the Charily in Kimberley Road, Clevedon, had been urKJer coTrsideration as the ffleans of accom[[tIng arrfj hosting the Community Hub. However, Ils limitatTons have been recognized and allernaiwes have been conSKlered during th year, with no success in lirKJiro a suitable aternatNe in Ckve(S)n. Business & Investment Plan IBIPI Folknwing a pwi(NJ of strategic ieview, the Trustees saw the need to draw together the asiiralions ol the Charity (vision. rnission. and values) and the financial iequiremenl needed to lullil these aims. The BIP was wblished in 2021 and covered a 3 year pErioKI to 2024 and this has been uplated to cover the next 3 years. The BIP introduced Ihe detailed proposals for the Volunteer PlusV+ programme, incorporaliTrJ Andrew House. lUtraISing. arKI staffing reguwetnents, arKI the delivery ol the therapeutic and other CoMp(entS ol SUPPK)rt forthe clients, h05ted by the Soclal Enterprise ol the Charity. In MarGh 2023 a fur[al41r0 company was itrar4)ointed. The agreernent was reviewed in April 2024 and although the furKls raised were l¢e the (x)st d raisiThJ those funds. this has not been renewed. The purty)5e ol the Social Entèrprise. whh lakes the form ol charity shops and the furniture warehouse, is to perform the hosting funclion lor the work-based recovery pr(NJramme, Volunteer PlusV+. The managers, members ol staff and volunteers diawn from the wKSer community all play their part in stjpporting the V* participants bmth the aifft of prov%Jing realislr workplace experience lo help them become'wotk-ready. The core ol the Charilrfs wimary purFose trading is focused on Ihe sale of donated luinilure and househokl gocmls. The Charills beneflarIeS are ewaged in undertaking many ol the activities in the Social Entèrprise ouKJed and encouraged by employees ol the Charity in key roles. The performance of the Social Enterprise has improved sig)ilicantly durirvJ the year. with encouraging resulis. Concern regarding the public perception ol the Charity led 10 a
CHANGING LIVES CHARITY . giving hope and a future review ol how the Charty is presented Ihrough slatK)nery. van leitering. literature etc. Ouotations were invited lor rebranding. In Seplemtr 2023 the contract for this vrds awarded to Amperalive and was rolled out during 2024. Fisc81 Diligen¢e All expenditure during the period 2023-2024 was lor te11t in accordance wilh the Object ol the Charity. A scheme lor delegation ol financid control had been a3reed in Seplembei 2022. Resources The churches and the der ¢(Mnmurbity in CVeon armj the sUrroU11rj area continue to be a signili¢ani contributor to Ihe Charity. in terrns ol both finar131 aNJ aCt31 su)ort. The charity has met its financial reswnsibilitEs a5 they have faIn due, alhough the agieement lo ¥epay loans has been extended with the lenders consenl. Opp)rtunities lor attracting finarla1 5UPPOrt through the use ol web-based tools sccial media have been exploited. and Total Gwiivj provides an easy means ol donating 10 the Charity- Structure Governance & Administration The Charity is governed by its Memorandutn and Artides ol A&8oaalion, sned by all lomiation Trustees on 16 March 2015. The Gharity is a Company limited by guarantee wthout shares incorporated on 30 March 2015. The Trustees are detwmined to ensure g(x)d practice is followed and are aware ol their obligation to aixde by Charrty and other relevant law irlUding the reporting ol adverse incKlenls occurring in the life ol the Charity to ts rdevanl authilleS, as rEcessary. Trustees There were rK) charyJes in Trustee membership duriThJ the year. Appointment of a Chièl Execullve Having established the Business and Investment Plan IBIPI as the guKliThJ dUment lor the Charity and its Managers, the Trustees turned their attentKJn lo need lor a senior manager to whotn they could hand the many minIStratIVe ard managerial tasks they had iEen carwng since the Charity was registered in 2015. The Chief Exe¢utwe who was appKxnted in May 2022 left the Charity in Dember that year_ A5 permitted undw the CharItS governing document, one ol Ihe Trvslees, was appointed as Interim Chief Executive on a 6(rA FfE arrangement wo temps. Safeguarding Policy The developments ol the ministry ol the Charity resulted in the need to rewew and revise the Saleguardirg Policy, a¢¢ordiThJly a professionally written policy was cotnmissioned. This policy was approved by the Trustees in July 2023 and is revEwed annually. Public Benelil The Trustees confirm Ihat they have lullilled Ihev duty to have due regard to LY)mlare with the guidance on KKJbli¢ benelif rules. Training for Trustee& The trainirKJ of Trustees is regularfy revie¥ lo ensure COmlae $¢ pratie. Volunteers Volunteers are essential to the welAing and sustainabflity ol the Charity. The Trustees. desire is to engage wilh the widesl variety ol peOe of gocthill in r community to help them serve each other by this tneans whilst meeting their own needs lor lulliknent. companionship, and a sense ol 'giving-back'. The details ol the Charity's 34 volunleeis who supsx)rt Ihe work are recorded in the Volunteers. Regisier. OpFK>rtunilies lor volunteers are fflany and varied including lor those within the Voluntèer Plus scheme, (lescribed aiK>ve. At the year*nd there were 5 clients in the Volunteer Plus IV+) programme.
CHANGING LIVES CHARITY . glvlng hope and a futu Financial Review The Charity re¢ewes income Iiom Sever sources. FurNJs are was1 from our shops ar warehouse. These facilities also provide volunteering oF¥x)rtunities lor pe(ple we are supporting. We also partner with North S(yner5et C11 to manage thr.. Welfare Provision Scheme la scheme to provmle white KX$ lo IKJusehdds nominated by NSC- the Charity admirhisters, sources supplies cs). A Bulky Waste 5ervre (for the disposal of larger items which can't be hand in Ihe regular collections) and A new service aiffled al repury)sing items that would otheiSe go to landfill. Enhanced housiro benefit covers the direct costs ol 0rat1 Andr Hou. We are in receipt ol some grant income and the I(al church community cMlirnJe to suprx)rt us financially, lor which we are enormously grateful. The counselliThJ SUK4XJrt we provKle, arKI our V+ prjrarnffle. do rK>t receive external funding. The de[rt that we recordc(J in 2023 has amost been efiminated aThl Ihe hall year managennt accounts lo end March 2025 are showrkJ a sUV5. We are seekirKJ way5 to broaden our V+ programme. The residential element has delivered real SucsS in ihe year a1 our locus in the current period is to ensure Ihe work is sustainable inlo the lutuce. The forecasts, that were ppared al Ihe lime ol the resfrLKture in 2Wd1 itKlicaled a rTKxle5t surplus woukj be achieved in the year iecenlly ended. It has been encouragi that the diff icull deasiDns that were taken have led to sustained unprovemenl in the results ol our activilEs and the consequent sijrvival ol the Charity. The Trustees are pleased to be ab to crxnmend the staff lor thar willing invOeMent in this success. As the scope ol the Chaaty's fflinistry has grown, we have bn in the process ol a transtion Irorn an organisalion mainly led and Managed by ihe Truslees, to one where a pail execAJlive is leading the day-lo-day work. As Th)ted atK)ve, miniglry leads were 4)pointed to direct the V+ and the community (Andrew House) elements ol the work. These are addttsonal to the other senior roles managing our commercial enterprises. These are oveiseen by a part tine CEO on an interim basis Loans were made by several Ims¢ees or I1r asso(ialed Irusts. These eed Charity lo tY Andrew House with the assistance ol a mortgage from the previous owners. The loan from the previous owners ol Andrèw Housa is eXcted lo be replaced by a ¢))mrnerGial mortgage in advance ol the 5cheduleO repaytnent due in Septefflber 2025_ I{nIa resources 01 £710,68412023- £643,684) were received in the year wlh the main source ol income being lunds raised from the sale ol donated goods and the sae ol bulky waste. Expenditure 01 £724,53012023- £717,344) reflected cost5 01 charitable a¢iivrfies of £387,940120¥3 - £378.6381 costs ol raising funds of £336,590 12023 - £338.71). The nel result the year to 30 SeptetniEr 2024 was net expenditure of £13.846 12023- net expeThJiture of £74,715). Managemenl of Risk The Truslees tneet regulaty arKI are sensitive to the rEks which all tharities (such as the risk of money launderirYJ, arKI risks to its reputattonl, arwj to any spEoal potentid risks arising from the Charity's activities. During the year the Trustees continued to tnaintain a Risk Register. BUIlInS are regularly received from various sources whh alert Ihem to new risks o¥ lo new legislation which could require them to rt0 sn ways ol which otherwise Ihey wwld be igrK>ranl. Releience is made to the Charity Cotntnis5ion's Web pages for adVe as requirl_ The aptyjinlmwt of a full-titne fflanager for the V+ programme has assisted in exercising vwylae over the wellare of clients. The main risks that fall lo ChaThJing LNes Charity are iisks to the clieni goup. linan¢ial risks, e.g. the Social Enterprise and lutLKe operalhorh of Andrew House. the Irne arKI expetKliture of the Challty.
CHANGING LIVES CHARITY . glvlng hope and a fulure and risks relating to property ownership. The short to methum-temi risk8 the balancing ol the month-lo-monlh income and eX'ture and the repaymeni i lInanCe ol the debi that Ihe Charity has taken on are under ¢(x)stant review. arKE form of Bu5ine5s at%J Investment Plan refeTTed lo earlier in this report. Reserves Policy Our ReseNes lIcY is Ihe sutlect ol review. The Chartty has adequate equity in the freehold property IrEt ol all outstancsing loans) lo be conortabty sofvenl. 11 has sutfiuenl resewes ol cash lo ¢omlortably meet its day to day commilmenls. The costs associated wrth an Unaed wnding up ol the charity are covered by ¢ash. The Trustees consider thar the Charity will £tire as a goi core lor the loreseeable ILrture and a pericvj ol at ast 12 months from the date on these finla1 statefflents are aFprov&J'. 1. The Charity holds free reseNes as detaId in the finar1 statements", 2. Financial forecasts lor the next 3 years antpale a mcmlesl sUlS Ihereby increasiThJ the level of free reserves,. 3. The Trustees will extend the Charivs ograMMe to its nefiCiarIeS only followi careful consideration ol the linanoal impact on the Charity. The T¥ustees therefore consKler it aANC4yiate lo aJ(pt Ihe wiThJ ¢on¢em basis loi pr8paralK)n ol the ac¢ounts, as detailed in noie 1 to the tinanuJ slatemw)ts.: Work is in hand to refinance the loans by way of a comtnercial mortgage. The Charity refflains SOent lon the basis of the most renI valuation ol the freehold txopertyl and the pressure on the monthly results has ieduced Sni[n11Y over the last eighteen months. Future Plans The ministry ol the Charity has nevef en in better shape. Its finae$ have Improv sKJnrficantfy. Succe55ful partnerships have iEen devetoped with North S)fflersel Council. Our Fundraislng efforts are focus£ on raising a(SJrtiorHI Ioe to balance the tr)oks and sustain ouf ministry The susl&'ned support ol the kncal Chflstian community has brought emmM)us blewng lo the Chaiity. Expression of thanks The Tiustees wish 10 express their sincere grattlude lor the hatd woth and extraordinary level ol comtnitment ol all Ihe empbyees, con5ultanls arKI volunleeis of the Charity. The Trustees extend thi5 expression ol thanks to ils partners those special people who freely give their time and COnserable exFertise SUPFOrting the work ol the Trustee Board as advisers. Finally, the Truslees wish lo thank the courses people ol in North &Trmetsel arKS beyond, who sh(p, donate and support the work ol Changing Lives Charity in so many ways. Wrthtsul the tireless efforts ol everyone involved the Charrty would not survive. let ale thrive. As a Christian Chaoty, the Tfuslee5 also publicly acknowledoe the wovidence ol our Heaventy Father who. often Ihrough the Charity's stakeholders, provides lor our every need. Events of note post 30 September 2024 Keysleps is 2 charity based in Weston supef Mare. It was established lo wovide bonds lo I81(dS lo underwrite tenancy agreements to people credit history. The Iiustees had concluded Ihat the work needed to iE tnerged wlh arther charity to guarantee rts long-term future. CLC was approached during 2024 as a tx)lential partner LEcause of the obvious synergy involved. Discussions trx)k place over a number ol months and Idlowl a SSSIu1 Due Di10en wocess the mger was completed on 15., April 2025. Two new trustees were apyointed at the beginniThJ of 2025. Martin Kni1 Ilormerly a trustee ol Keysteps) has joined the tyjard as has Catriona AldwirKkte who has a real interest in the ministry of CLC and has now retired from a career al a senior level in Ihe MOD. Former Trustees CDnlinue lo be involved in 2 variety ol ways SUprting the wortt.
CHANGING LIVES CHARITY . glving hope and a future Independeni Examiner's Report to the Trustees of Changing Lives Chartty I report to the Charity Trustees on my examinalion ol the accounts of Ihe CharilAe Company lor the year ended 30 September 2024. Responsibililies and basis of report As the Charity's Trustees ol Ibe Gharitable Company larKI also its dir)[5 lor the wwjses of company lawl yoy are resFK)nsible for the preparati( ol the airounts in accordance with the requirements ol the Companies A¢1 20( I'lhe 20( Act'i. Having satisfied myself that the accounts of the Charitable Company are rK)I rewired to audited under Part 16 01 the 2006 Act ar are eligNe loi indeent examination, I report in respect of rny examination ol your Charify's accounts as ¢airied out under section 145 01 the Charities Act 20111.the 2011 Act'l- In carrying out my exarnination I have followed the De¢tS iuven by the Charity C(xnmission uThler section 145151 Ibl ol the 2011 Act. Independent examlner's ststement Since your charitys gross income exceeded £250.(M)O ywr examirr mt be a member ol a listed body. I can confirm thal l am qualified to uTrJertake the examirHiK)n because l am a metnlxr of the Institute ol Chartered Accountants in EThJIal and Wales, which is ol Ihe listed trKMJies. I have comtAeled my examination. I conlimi Ihal IKJ matters have come io my attenti)n in connection with the examination g4virbJ me Cause lo trlieve= accounting records were rK)t kept in rest¢l ol the Charttable Company as required by section 386 01 the 2006 Act- or 2. the accounts do not accord with those records." r 3. the accounls do not ¢omKAy wtth the accounlsng requirements ol section 396 01 Ihe 2006 Act other than any reqU1ment that the accounts give a true and lair view which is not a matter considered as part ol an independent examination- o 4. the accounts have not been prepared in COrdanCe wlh the methods and winciples of the Slatemeni ol Recommended Practice lor accounting aTrl rerA)rtI by charitEs (ap1¢able to Charities preparing their accounts in accordance with the Fan(Ya1 Reporting Standard aFplicable in the UK and Repub1i¢ ol Ireland IFRS 10211. I have no cOnrnS. other than the matter set out bebw and have c(wne a0$$ no olher matters in connection with the examination lo which aiteniion sh(NJkl be thawn in thi5 reF*KI in or¢Jer lo en3te a pro1 understanding ol the accounts lo be leached. Matter of concern Identified The matter thai has come to my aitention is Ihal the Charity relies on ihe suppwjrt of another charity lo linan it5 operations by proMdin9 a ban of £193,963 secured on the property, Andrew House, owned by the Charity. While the Sender has extended Ihe k)an to 30 Sep[emr 2025, this is within 12 months of approval of the financial slalements and fina1 beYd this date is urrErtain. irKIKah"ng a risk that the arnounl due to the lendei may be ¢alled in. This means that there is signilunt uncertainty as to Ihe Charity s ability to continue as a going concern without refinancing ol the loan or the sale ol the property. The Trustees are confident that allernalive sources of funding will be secured. On this basis. the trustees have Colded that it remains appropriale to prepare the charity's accounis on a g(Hng concem bags. io
CHANGING LIVES CHARITY . glvlng hope and a luture Approved by the Board ol Truslees ( and signed on their bett1 ty. DrJSc ate -L,J s,It
CHANGING LIVES CHARITY . giving hope and a future Independent Examiner's Report to the Trustees of Changing Llves Charity {continued> Matthew Bracher B* FCA Institute ol Chartered Accountanls in ElaThy arKJ Wa Gravila Chartered Accountants Bath House 6-8 Bath Sireet Bristol BS1 6HL Date li
CHANGING LIVES CHARITY STATEMENT OF FINANCIAL A1VITIEs Ilncorporating Intome and Expenditure Accourbtl YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Unrestricted Unre5trirted fund fvnd hlote Irestatedl Income and endowments from.. Don3tions and legacies Charitable a£tivitie5 Raising funds Investments 52,461 199.142 453,06S IA90 4,526 710,684 66,732 154.545 420.703 1.393 Other income- corporation tax refund 643.373 Expenditure on 387.940 336,590 724,530 378.638 338,706 717.344 Raising funds Net in¢ornellexpenditurel belofe tax Tax payable 113,8461 173.9711 744 Net incomellexpenditurel 113.8461 174,7151 Total funds brought forward Total funds carried forward 54.586 40.740 129,301 54.586 l income arKI expendilure derive from continuing aciivities. The slalement ol linan¢id a¢twilies i[ludeS all gains arKI losses reCjij duriTrJ the year. 12
CHANGING LIVES CHARITY (Registered number: 95179061 BALANCE SHEEr AS AT 30 SEPTEMBER 2024 2024 2023 UTrrestrirted fund Total funds Note FIXED ASSET5 Tangible Fixed Assets 534,372 534.372 546.489 546,489 CURRENT ASSETS Debtor5 Cash at Bank io 22.931 86.840 109.771 23,443 88,765 112.208 CREDITORS Amounts fallinÉ due within one year li 339.903 462,611 NET CURRENT ILIABILITIES) I A55Ers 1230.1321 1350,4031 TOTAL ASSETS LESS CURRENT IIABIIITIE5 304.240 196,086 CREDITORS Amounts fèlling due after more than one yeaT 12. 13 263,500 141.5(K) NET ASSETS 40.740 54.586 FVNDS Unrestricted Charitable Funds brought forward I Cttober 2023 Surplus/lDeficitl for the year Unrestricted Charitable Funds ai 30 september 2024 S4.586 113A461 40.740 129,301 174,7151 5d,586 The Charily is entitled to exemption frorn audit un¢Jer Section 477 of ihe Companies Act 2006 for the period ended 30 September 2024. The members have not required the company to otitain an audii of its financial staternents for the period ended 30 September 2024 in accordance with Section 476 of ihe Companies Act 2¢6. The Trustees acknowledge their responsibilsties for.. lal en5urin8 that the charity keeps accounting records that compty wilh Settions 386 and 387 of the Companies Act 2006 and, Ibl preparing financial statemenrs which give a true and fair view of the state of affair5 of the Charitable Company as at the end of each financial year and of its Surplus or defitTt for each financial year in accordance with the requirements of Sertions 394 and 395 which othenwise compty wirh the requirernent5 of the Companies Act 2006 relating to financial 5tatement5, so far a5 applble to ihe Chariry. 13
CHANGING LIVES CHARITY (Registered number: 95179061 BALANCE SHEET AS AT 30 SEPTEMBER 2024 These financial statements have been prepared in accordance with the provisions applicable tts charitèble companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authori5ed for issue and were signed on its behalf by= IBU date QMI -,rt ca) IE 7. Zl 4ir 14
CHANGING LIVES CHARrrY (Registered number: 95179061 STATEMENT OF CASH FLOWS FOR THEYEAR ENDED 30 SEPTEMBER 2024 Note 2024 Z023 Cash flow from operating activities Interest Paid Nel Cash flow from operating a¢tivities 15 20.838 145,8361 20.838 145.8361 Cash flow Irom In¥estlng attlvltles Dividends. interest and rents frorn ¢nvestments Payment5 to acquire tangible fixed a55etS Net cash flow Irorn investing artivitie5 1.4 12,4371 19471 1.393 14.5901 13,1971 Cash flow from financing attivltles Loan interest paid 121,8161 123,7611 Net cash flow from financing artivitie5 121,8161 123,7611 Net increaseldecrease in cash and ¢a5h equivalents 11,9Z51 172,7941 Cash and cash equivalents brought foN4ard 88.765 161,559 Cash and ¢ash equivalents carried fon¥ard 86.840 88,765 Cash and cash equivalents consist of. Cèsh ar bank and in hand 86,840 88,765 The notes form part of the financial statements. 15
CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES Ba515 of preparing the financial statements The financi31 statements ol the Charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021'Ac(ounting and Report¢n8 by Charitie5.' Staternent of Recommended Prattice applicable io chatieS preparing theii accounts in accordance with the Financial Reporting Stand3rd applicab5e in the UK and Republit of Ireland IFRS 1021 lelfective l January 20191.. Financial Reporting Standard 102 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland. and the Companies Att 2(X>6. The financial statements have been prepared under the historical cost conventmm. The Charity is a company, incorporated in England and Wale5. limited by gLT3rantee having no share capiral and, in accordance with the Memorandutn of Ass(Kiation. every member is liable to £oThtribute £1 towards the cost5 of dissolution and liabilities incurTed by the Charity in the event of the cornpany being wound up. The addre55 of the registered office is gen in the charity Ènformation on page5 4 10 5 of these financial statemersts. The financial statements are prepared in sterling whKh is the funrtional currency of the Charity and are roLtnded to the nearest £. Going concern The Tru5tee5 consider that the Charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons-. The Charity holds free reserye5 as detailed in the financial statements. Financi31 loreca5t5 for the next 3 yea15 anticipate a rnode5t surplus thereby incieasing the level of free reserve5. The Trustees will extend the ChariV5 prograrntne to it5 beneficiarie5 only following careful consideration of the financial impatt on the Charitv. The Trustees therefore consider it appropriate to adopt the going concern ba515 of preparation of the accounts. Work is in hand to refinance the loans by way of a shared ownership investrnent model of the house. The Charilv remains solvent lon rhe basis of the most recent valuation of the Ireehold prtspertyl despite the pressures on the monthly results and the repayment of loans. Encouraging progress has been made io deal with both issues and a back-up plan is in place Should that be required. Incoming Resovrces Incotne is recognised in the Staternent of Financial Activities once the Chariiy has entitlernent to the fvnds. and it 15 probable that the income will be re<eived and the amount (an be measured reliably. Donations and 8ift5 are accounted for when receivÈd. Income tax retlaimed in Telation to a4)unt5 receiveil under gift asd is included in the same period as the income to which it relates. Resource5 Expended I resources expended are accounted for on an accruals ba515. DirKt C05t5 are allocated to charitable activit*es iaising ol fund5 as appropriate. Support costs are apportioned to charitable activities and raising fuTrds in line with the ptoportional 5plIt of incorne (excluding donations and investmÈnt income). Property expensÈs are apportioned a$ 5UPPOrt CQ5tS Wlth the exception of Andrew House c05t5 which are dirertly allocated to charitable attivities. 16
CHANGING LIVES CHARITY NOTES TO THE FINANCIAL ATEmENTs YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POUCIES- ¢ontinued Fund accounting Unrestricted funds can be used in accordance wlth the charitable objectives of the discretion of the trustees. Tangible fixed assets Depreciation is provided at the following annual rate5 in order to wr4te off each asset over lis estimated useful life. Freehold propertv Fixture5 & fittin85 Motor vehicles Not depreciated 3 years 5trai8ht line S years siraight line All fixed a55et5 are stated at purchase cost plus incidental expenses of acqui51tion. No provision for depreciation has been made for Freehold property a5 It 15 the view of the Trustees that the estimated residual value of each property is not materially different from the carrying value. Taxation The Charity is exempt frotn corpoiation tax on itscharitable acriviEies. Debtors Debtor5 are measured on Initial recognition at 5ettlernent arnount after any amounts advanced by the Charity. Subsequently, they are rneasured 3r Ehe cash or other consideration expected to be recejved. Cash and cash equivalents Cash and cash equivalents irKlude cash in hand. deposits held at call wilh banks. other short-term liquid investments with original maturities of lhe months or le55. and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilities. Creditor5 The Chariry has creditors which are measured ai 5ettlefflent amounts. FiThancial instruments The Charity only has finar131 assets and liabilitie5 of a kind that qualify as basic finala1 instruments. 8asic financial instruments are initially recognised at transaction value and SubSeqentlY measured at their settlement value. Pension costs and other post-retirement benefits The Chariiy operètes a defined contributioll pensw)n scheme. Contributions payable io ihe Charity's pension scheme are charged to profit or k)ss in the period to whith they relate. Donated goods and seNices The value of 5eryices Provided by volunteers is noi incorporated into the fiftaTrcial staternent5. Where goods or service are provided to the Charity as a donation that would normally be purchased from suppliers, the contributions are included in the financial 5tatefflents as an estimate based on the value of the conrribution. Concessionary loans Conce55ion3ry loans include those payable 10 third parties which a interest free or below market interest rztes nd are made to advance charitable purposes. The charity has applied 534 of FRS102 with reg3rd5 to the valuation of loans to public benefit entities 50 that discounted present value and an a55LKlated interest charge are not re¢ogTri5ed. All loan5 Bre rneasured at (051. 17
CHANGING LIVES CHARITY NOTE5 TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 2024 2023 INCOME Donatior15 and legacies Donations Other income (Gift Aid) Grant income Total donations 24.308 13,453 14,71)0 52,461 10.607 7,453 48.672 66.732 Charitable activities RentBI Income Welfare Provi$Th Scheme Delivery Other 110,884 69,307 11.870 7.081 199.142 74.576 65.283 12.227 2.459 154.545 Total charitable activities Raising funds Sales 304.105 5.929 101,137 41,894 453,065 294.733 5.260 86.196 34.514 420,703 Auction sales Bulky waste House clearance Total raising funds Investments Incorne frorn inve5ttnents Total inve5tment5 1,490 1,490 706.158 1.393 1.393 643,373 Total incorlle Charitable activities to ra15ing fund5 ratio 30.70 27..73 652,207 575.248 Grant5 received, included in the above. are as follow5.. 2024 2023 Albert Hunt Laing Trust Sport England Bupa Foundatior 5t Andrews Clevedon 2.530 1.500 JA Serrlemenr Garfield Weston Westport clo University of the West of England Grants received under £1,( 30,000 7.172 160 1,410 14.700 45,672 18
CHANGING LIVES CHARrrY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 305EPTEMBER 2024 C05T SUMMARY 2024 2023 Chafrtable activitiÈs Rai51ng funds Charitable attivities Rai5in8 funds Irestatedl 326,652 51.986 378.638 Ire5tatedl 198.150 140,556 338,706 Direa costs Inote 41 Support costs (note 5. restated) 32957 201,062 58.083 135,528 as7.0 336.590 DIRECT COSTS 2024 2023 Costs of charitable artivities Appliances for Welfare Provision kheme Welfare ProvisH)n scheme installation Consultinglprofessional fees Charitable donations $4,968 53.638 5,145 32.296 107 45,017 V Plu5 wellne5S Costs 2.805 43,0 985 5.214 41.55S 986 Direct property expenses Isee below) Depreciation charitable activity Salaries charitable attivity Employers Nl Pensions costs 150,110 23,559 2,669 329.857 162,602 22,884 2,225 326.652 Total dirert costs att¥ibutable to charitable activities Costs of raising funds Bulky waste disP05al Rental costs for waste Motor vehicle expenses Operating lease payments Salarie5- trading employees PensioD5 COSts- rai5in8 fund5 employees ConsUltinprofessional fees D&preciation- raising funds Total direct costs attributable to raising funds 13,543 13,543 16.122 7.439 127.872 2,273 11,404 8,866 201.062 8.392 8,393 15,722 8.293 136,540 1.940 10.000 8,870 198,150 Total direcl cost5 530.919 524.802 DIRECT PROPERTY EXPENSES (Andrew House) Insurance Light. power. heating Legal expenses Fiates 3,683 8,114 3.812 3.812 io 4.578 1.343 21,816 3,556 4,998 1.523 23,761 3,639 Telephone and Iniernet Loan interest on property Repairs & tnaintenance 43.090 41,555 19
CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 305EPTEMBER 2024 2024 2023 SUPPORT COS Advertising and rnarketing Bank fees Charity admin costs Isee note Gl Food & driTrk 20,752 1,199 144,949 3.108 7,350 8,432 15.800 1,636 141,641 2.836 15.361 5.162 1.352 2.105 463 General expen5e5 IT software collsumables Printing, stationery and postage Staff training Sub5criptlOn5 Telephone and intemet Travel national 638 693 3,t107 1,539 193,611 3.024 3,162 192.542 Irestatedl 51,986 140.SS6 Charitsble activities 30%12023-27%1 Raising funds 70%12023-73%1 58.OB3 135.528 193.611 192,542 The apportionment of support costs in the prior year has been restated to reflect the respective allocations. 20
CHANGING LIVES CHARITY NOTESTO THE FINANCIALSTATEME5 YEAR ENDED 30SEPTEMBER 2024 2024 2023 CHARttY ADMINISTrAT]ON COSTS Audit & accountancy fee5 Salarie5 3.266 30.887 549 4.139 33,238 463 Pensions costs Employers Nl General expen5e5 Insurance IT software and consumables Rent 2.618 441 2.543 1.703 10,646 5,162 33.293 4,946 22.148 20,041 1,815 1.501 10,660 8.433 34.476 7.735 23,298 10,294 2.237 Rates Light, power and heatlng Repair5 and tnaintenance Subscriptions. postage and $13iH)nery Telephone and internei Interest on loans 7.991 144,949 141,641 STAFF COSTS Wages and salaries Social security costs Pension costs 308.869 332.380 26.177 25.427 5.491 4.628 340.537 362.435 The average number of employee5 during the period wa5 15 12023- 151_ No ernployees ceiVed emolumeftts in excess of E60.IKKJ in 2024 or2023. During the year, l Burnham, a directorof the charity wa5 paid con5uliing lees of £22,941 12023- £11.1891 in hi5 POSltion a5 consultant. acting CEO. of the Chafjty. INDEPENOENT EXAMINER'S REMUNEILATION The Independent Examinerfs remuTheration consists of the follow¢ng.' 2024 2023 For independent examination For non-audit work 1.030 1,540 2.570 984 1,466 2,450 21
CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 TANG18LE FIXED ASSETS Freehold Flxtures & land & FittiThgs Buildings Motor Total Veh¢cles COST As at 30 September 2023 Additions 520,934 17.099 569.440 2.437 2.437 13,6281 111,2671 114,8951 15,908 20,140 556,982 31.407 Disp05a15 As èt 30 September 2024 DEPRECIATION As at 30 Septernber 2023 Charge Disposals As at 30 Septetnber 2024 NE[ BOOK VALUE 520,934 5.003 2,885 17,948 22.951 6,966 9,851 110,192) 110,1921 14,722 22,610 7.888 at 30 Sepiember 2024 520,934 8,020 5,418 534,372 As at 30 September 2023 520.934 12.096 13.459 546.489 The loan of £193.963 is securert on the fehOld woperty. io DEBTORS 2024 2023 Trade debtors Corporation taK reclairn Other debtors and prepayments 10,093 11.480 12.8a8 22.931 11,963 23.443 li CREDITORS.. Amountsfalling due within one year 2024 2023 loans from Trustees and related parties Trade creditor5 Tax Social security and other taxes Other creditors and accruals Mortgage loan on property repayable under I year Van loan5 iio.000 17,168 iio,000 15.289 5,530 13.242 193.963 5.918 9.353 322,000 51 462.611 339.903 Included in other cieiSitors 15 E3.05912023- £2.9651 in relation to pension coniributKJns owing. 22
CHANGING LIVES CHARITY NOTESTO THE FINANCIALSTATEMENTS YEAR ENDED 305EPTEMBER 2024 12 CREDITORS.. Amounts falling due after more than one year 2024 2023 Loans from Trustees Over S years Over l year. under S year5 Company loan Over 5 years Mortgage loan on prope repayable under5 yeats 187,500 5,000 65,500 5,000 71,thX) 71.000 263,500 141,500 13 SECURED DEBTS The following secured debts are included within creditors= 2024 2023 Mortgage h)an orb property 193.963 322,000 14 RELATED PARTY TRANSACTIONS The Charity has ceiVed loarts from trustees and related parties as folkwts- Z024 2023 Management Limited* ferry Mears Ray Wilson Managernent litnited Jeff Peacock Repayèble in less than l year Repayable in over I year Repayable in over S years Repayable in over 5 years Repayable in over 5 year5 iio,000 5.000 122.000 71mO 65,500 iio,000 71.¢)00 65.500 373.500 251,500 From Keystone Projetts & MaThagernent limited lof whKh David Tomlin50n. a Trustee of Changing Lives Charity until 31 March 2023. is a direttorand 5hareholderl. The above conce55ionary loans are not secured and are interest free. 8etween l and 5 years Over 5 years IZ7.000 65.500 192.500 65.500 70,500 Expenses totalling Ell were paid to one trv5tee for travel during the year ended 30 Septembef 202412023- £431. 23
CHANGING LIVES CHARITY NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 305EPTEM8ER 2024 15 RECONCILIATION OF NET INCOMV IEXPENDITUREI TO NET CASH FLOW FROM OPERATING A1VITIEs 2024 2023 Net income/ (expenditu) for yearl period 113,8d61 174,7151 Depreciation and impairrnent of tan8ible fixed assets L055 on disposal of fixed a55et Income frorn investrnents Ilncre3sel I decrease in debtors Increase / Idecrea5el in creditors Loan interest paid 9.851 4,703 11,4901 512 9,856 11,3931 18,3221 4,977 23.761 17081 21,816 Net cash flow from operating artivities 20,838 145,8361 24