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 CO￿E￿s 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￿ {(J￿r lan Bumham FCA Terry Mears- Secretary Jennifer Schaefer Cattrffta Ak*MnkJelawinled 23 January2￿￿5) 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 AdV￿e & &pport Rev Stephen Fo￿er, Moollng, Upper Godney, Wells, BA5 1 RX IT & Web Solulions Worthers Lld, Long Bam, Folly Farm, f￿￿enharn. 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 fin￿￿la1 statements ol the Charity lor the year ended 30 Septemter 2024. The financial Statem￿lS compty wtth Ihe re(BJirèTr￿ntS 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 aC￿U￿[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 OH￿nunitieS (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 Enter￿lse 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)ysioltsJi￿l th psyth0￿g￿l 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 resOUr￿S required and the fflean5 by which those resources ￿11 be ga￿￿red. It introduces and describes the programme Volunteer Plus IV+l. which is the serV￿e wovisKTrn delivering the care lor the Charity's suptx)rted volunteers. This seNiTr is headed by a manager skilkd eXperIen￿d 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 a￿1 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, al￿tIon 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 e￿MentS 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 S￿￿81 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 Kimt*dey 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 devekv1￿j 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 Inspirat￿jnal 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 b￿0[￿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. lU￿traISing. 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. wh￿h 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 benef￿larIeS 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 Seplemt*r 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 t￿e11t 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 C￿Ve￿on armj the sUrroU￿11r￿j area continue to be a signili¢ani contributor to Ihe Charity. in terrns ol both finar￿131 aNJ ￿aCt￿31 su￿)ort. The charity has met its financial reswnsibilitEs a5 they have faI￿n due, alhough the agieement lo ¥epay loans has been extended with the lenders consenl. Opp)rtunities lor attracting finar￿la1 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, s￿ned 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 ir￿lUding the reporting ol adverse incKlenls occurring in the life ol the Charity to ts rdevanl auth￿illeS, 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 d￿Ument 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 De￿mber that year_ A5 permitted undw the CharIt￿S 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)m￿lar￿e with the guidance on KKJbli¢ benelif rules. Training for Trustee& The trainirKJ of Trustees is regularfy revie¥￿ lo ensure COm￿la￿e ￿$¢ pratie. Volunteers Volunteers are essential to the welA*ing and sustainabflity ol the Charity. The Trustees. desire is to engage wilh the widesl variety ol peO￿e 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 was￿1 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 C￿￿11 to manage th￿r.. Welfare Provision Scheme la scheme to provmle white ￿KX￿$ lo IKJusehdds nominated by NSC- the Charity admirhisters, sources supplies ￿c￿s). 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 othe￿iSe go to landfill. Enhanced housiro benefit covers the direct costs ol 0￿rat1￿ 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+ pr￿jrarnffle. do rK>t receive external funding. The de[￿rt that we recordc(J in 2023 has amost been efiminated aThl Ihe hall year managen*nt accounts lo end March 2025 are showrkJ a sU￿V5. We are seekirKJ way5 to broaden our V+ programme. The residential element has delivered real Suc￿sS in ihe year a￿1 our locus in the current period is to ensure Ihe work is sustainable inlo the lutuce. The forecasts, that were p￿pared 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 invO￿eMent in this success. As the scope ol the Chaaty's fflinistry has grown, we have b*n 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 I￿1r asso(ialed Irusts. These e￿￿ed Charity lo t￿Y Andrew House with the assistance ol a mortgage from the previous owners. The loan from the previous owners ol Andrèw Housa is eX￿cted lo be replaced by a ¢))mrnerGial mortgage in advance ol the 5cheduleO repaytnent due in Septefflber 2025_ I￿{￿nI￿a 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. BUI￿lInS are regularly received from various sources wh￿h 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 adV￿e as requir￿l_ The aptyjinlmwt of a full-titne fflanager for the V+ programme has assisted in exercising vwyla￿e 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 I￿rne 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 con*ortabty sofvenl. 11 has sutfiuenl resewes ol cash lo ¢omlortably meet its day to day commilmenls. The costs associated wrth an Un￿a￿ed wnding up ol the charity are covered by ¢ash. The Trustees consider thar the Charity will £￿tir￿e as a goi￿ cor￿e￿ lor the loreseeable ILrture and a pericvj ol at ￿ast 12 months from the date on these fin￿￿la1 statefflents are aFprov&J'. 1. The Charity holds free reseNes as detaI￿d in the finar￿1￿ statements", 2. Financial forecasts lor the next 3 years ant￿pale a mcmlesl sU￿￿lS 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 SO￿ent lon the basis of the most re￿nI valuation ol the freehold txopertyl and the pressure on the monthly results has ieduced S￿ni[￿n11Y over the last eighteen months. Future Plans The ministry ol the Charity has nevef ￿en in better shape. Its fina￿e$ have Improv￿ sKJnrficantfy. Succe55ful partnerships have iEen devetoped with North S)fflersel Council. Our Fundraislng efforts are focus£￿ on raising a(SJrtiorHI I￿o￿e 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 COns￿erable 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 al￿e 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 I8￿1￿(dS lo underwrite tenancy agreements to people credit history. The Iiustees had concluded Ihat the work needed to iE tnerged wlh ar￿ther 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 S￿SSIu1 Due Di10en￿ wocess the m￿ger was completed on 15., April 2025. Two new trustees were apyointed at the beginniThJ of 2025. Martin Kni￿1 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 SUp￿rting 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 Charil*Ae 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 inde￿￿￿ent 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 D￿e¢t￿S 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 examir*r m￿t 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 EThJIa￿l 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 tr*lieve= 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 reqU1￿ment 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 (ap￿1¢able to Charities preparing their accounts in accordance with the F￿an(Ya1 Reporting Standard aFplicable in the UK and Repub1i¢ ol Ireland IFRS 10211. I have no cOn￿rnS. other than the matter set out bebw and have c(wne a￿0$$ no olher matters in connection with the examination lo which aiteniion sh(NJkl be thawn in thi5 reF*KI in or¢Jer lo en3t￿e a pro￿1 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[em￿r 2025, this is within 12 months of approval of the financial slalements and fina￿1￿ beY￿d 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 Co￿l￿ded 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 bett￿1 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 E￿laThy arKJ Wa Gravila Chartered Accountants Bath House 6-8 Bath Sireet Bristol BS1 6HL Date li CHANGING LIVES CHARITY STATEMENT OF FINANCIAL A￿1VITIEs 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 reC￿j￿i￿j 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 appl￿ble 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 cha￿tieS 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 g￿en 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