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2025-09-30-accounts

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CHANGING LIVES CHARITY

Trustees' Annual Report & Financial

Statements for the year ended 30 September 2025

A Company Limited by Guarantee and a Registered Charity

Company Registration No 9517906

Charity Registration No 1161892

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CONTENTS Page
Officers and Professional Advisers 3
Annual Report of the Trustees 4 - 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Statement of cash flows 13
Notes to the Financial Statements 14 - 19

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OFFICERS AND PROFESSIONAL ADVISERS

Company Number 9517906 Charity Number 1161892 Registered Office Unit 2a, Kimberley Road, Clevedon, North Somerset BS21 6QJ

Trustees (who are also directors for the purposes of Company law)

Daniel Sibthorpe (Chair) Ian Burnham FCA Jennifer Schaefer Catriona Aldwinkle (appointed 23 January 2025) Martin Knight (appointed 23 January 2025) Secretary Terry Mears Bankers for Changing Lives Charity CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Lloyds Bank plc. Clevedon Branch Independent Examiner Gravita, Chartered Accountants, 2[nd] Floor, South, One Castle Park, Bristol, BS2 0JA

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CHANGING LIVES CHARITY

Report of the Trustees for the year ended 30 September 2025.

The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 30 September 2025.

The financial statements comply with the requirements of the Charities Act 2011, the Companies Act 2006, the Articles and Memorandum of Association of the Company and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Changing Lives Charity (CHANGING LIVES) is a Charity registered with the Charity Commission and operates as a Company Limited by Guarantee which is registered at Companies House and has been operating in this form since 2015. CHANGING LIVES is physically centred in Clevedon but operates throughout North Somerset.

We aim to bring love, recovery, support, unconditional acceptance and encouragement to the people of North Somerset without fear or favour of their background, beliefs, ethnicity or personal status.

Overview of 2024/25

The reporting period Oct 2024-Sept 2025 has been a critical year in the reshaping of the charity and bringing to fruition many of the plans projected in previous Trustees’ Reports. An overview of this is as follows:

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Charitable Object

The Charitable Object of CHANGING LIVES is "The relief of those in need by reason of youth, age, illhealth, disability, financial hardship or other social or economic disadvantage". The Articles of Association include powers to make grants, donations, or loans to organisations that further the aims of CHANGING LIVES . The charity's work ranges throughout North Somerset.

Vision

The CHANGING LIVES vision is to bring hope and a future for those who experience life-affecting trauma. We do this by:

It is understood that many addictive behaviours are a result of chronic trauma in early developmental years. Trauma may take many forms: abuse (of all types), neglect, or loss of a significant person or carer. These experiences result in lasting physiological and psychological damage leading to permanent health, relational, and social disadvantage. CHANGING LIVES has reaffirmed its aim to enable those affected to live fulfilling lives and contribute to the well-being of the community.

Mission

Provide an environment where every person whose trauma results in addiction, homelessness, mental health problems and offending behaviour, can find both restoration through compassionate care and hope for the future.

Values

Our values are our guiding principles that underpin all that we do. They are CHANGING LIVES ’s nonnegotiables, part of our DNA and hold the key to honouring and supporting each other.

These values are:

The Core Work of CHANGING LIVES

Community Support

CHANGING LIVES operates a number of schemes to help restore lives and encourage people back into independent living.

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Social Enterprise

CHANGING LIVES ’s primary trading goal is to re-purpose donated furniture and household goods and for these to be resold through our Retail outlets. CHANGING LIVES also has a partnership with Horfield Prison for refreshing furniture.

Public Awareness

CHANGING LIVES has a strong presence in Clevedon because of the retail outlets; throughout North Somerset, the vans are also very visible. In addition, CHANGING LIVES uses the following ways to engage.

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Financial Review

CHANGING LIVES is pleased to report a surplus in the year ended 30 September 2025 of almost £48k . This represents encouraging and sustained progress in recent years. 2023 showed a deficit of £77k. In 2024 that had reduced to £14k. The 2025 result includes a one-off net contribution of around £30k resulting from the merger with the KeySteps charity which was completed at the end of March 2025. The underlying surplus was therefore £18k against a prevailing climate of difficult times in the third sector not least the fact that Employer’s National Insurance and the National Minimum Wage had both increased significantly in the second half.

CHANGING LIVES received the following grants during the year:

It is also worth noting that

Post year-end developments

Since the start of the current financial year, there have been a number of positive developments:

  1. The refinancing of loans relating to our purchase of Andrew House has been completed. CHANGING LIVES has obtained a mortgage of £300k from Charity Bank which was transacted at the end of Oct 2025 and this has enabled CHANGING LIVES to repay the balance of the loan that Muller’s (£192,508) had made to us and which was due to expire at the end of Sept 2025. We have also taken the opportunity to repay £110k of an existing outstanding loan which was also due by the end of 2025. This has considerably improved our financial standing.

  2. Ian Burnham as Interim CEO completed his 3-year tenure in Feb 2026. Ian has been instrumental in delivering cultural change to the organisation; his financial acumen has led to a significant improvement in CHANGING LIVES ’s financial stability. The Trustees worked through a series of requirements for the profile of the person who should implement the vision of the Trustees in the

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future. As a result, Nicola Cook joined CHANGING LIVES as a part-time Director of Operations at the beginning of Feb 2026.

  1. CHANGING LIVES has attracted a number of new grants and donations since the year-end for which the Trustees are particularly grateful.

  2. A new Support Worker for Andrew House was appointed in Dec 2025 and this will enable more service-users to be helped with the resultant utilisation of capacity improving. It should be noted that he “graduated” from Andrew House himself a few years ago.

  3. From the beginning of Jan 2026, for a trial period of 6 months, a full-time Manager has been appointed to oversee the Thrift Store and enable it to open 6 days a week – the performance of this enterprise will be analysed carefully during this time.

Reserves Policy

CHANGING LIVES has adequate equity in the freehold property (net of all outstanding loans) to be comfortably solvent. There are sufficient reserves of cash to meet CHANGING LIVES ’s day to day commitments.

The Trustees consider that the Charity will continue as a going concern for the foreseeable future and a period of at least 12 months from the date on which these financial statements are approved:

  1. The Charity holds free reserves as detailed in the financial statements;

  2. Financial forecasts for the next 3 years anticipate a modest surplus thereby increasing the level of free reserves to cover 3 months operational costs;

  3. The Trustees will only extend the Charity's programme for its beneficiaries following careful consideration of the financial impact on the Charity.

Expression of thanks

The Trustees wish to express their sincere gratitude for the hard work and extraordinary level of commitment of all the employees, consultants and volunteers who contribute to the health of CHANGING LIVES . The Trustees extend this expression of thanks to the partners and those special people who freely give their time and considerable expertise supporting the work of the Trustee Board as advisors. The charity would like to express thanks to local churches for their energy, support and financial commitment. Finally, the Trustees wish to thank the people of North Somerset and beyond, who shop, donate and support the work of CHANGING LIVES in so many ways. Without the tireless efforts of everyone involved, CHANGING LIVES would not survive, let alone thrive.

Compliance Matters

The financial statements comply with the requirements of the Charities Act 2011, the Companies Act 2006, the Articles and Memorandum of Association of the Company, and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102).

Governing document

CHANGING LIVES is controlled by its Memorandum of Articles dated 30 March 2015.

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Public Benefit

The Trustees confirm that they have fulfilled their duty under the Charities Act 2011 to have due regard to the public benefit guidance published by the Chairity Commission.

Training for Trustees

The training of Trustees is regularly reviewed to ensure compliance with best practice.

Organisational Structure

CHANGING LIVES is administered by a Management Committee comprising the Trustees, Secretary and Director of Operations. There is provision to co-opt other members onto this.

Management of Risk

The Trustees have a duty to identify and review the risks to which CHANGING LIVES is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees meet regularly and are sensitive to the risks which attend all charities (such as the risk of money laundering, and risks to its reputation) and to any special potential risks arising from the Charity's activities.

Safeguarding Policy

The continuing developments of the Charity require a constant review of the Safeguarding Policy; accordingly, we review and amend the policy annually.

Volunteers and Employees

CHANGING LIVES employed 10 full-time staff, 3 part-time staff and had 42 active volunteers as at 30[th] September 2025.

Approved by the Board of Trustees on:

2nd June 2026

and signed on their behalf by:

............................................................

Daniel Sibthorpe, Chair of Trustees

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Independent Examiner's Report to the Trustees of Changing Lives Charity

I report to the Charity Trustees on my examination of the accounts of the Charitable Company for the year ended 30 September 2025.

Responsibilities and basis of report

As the Charity's Trustees of the Charitable Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charitable Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  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)).

I have no concerns. other than the matter set out below and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………………………………………… Matthew Bracher BSc FCA Institute of Chartered Accountants in England and Wales Gravita Chartered Accountants 2nf Floor, South One Castle Park Tower Hill Bristol BS2 0JA

Date…2 June 2026…………………………

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CHANGING LIVES CHARITY STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) YEAR ENDED 30 SEPTEMBER 2025

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
2
Direct beneficiary sales
2
Investments
2
Other income - corporation tax refund
Expenditure on
Charitable activities
3
Direct beneficiary cost of sales
3
Net income/(expenditure) before tax
Tax payable
Net income/(expenditure)
Total funds brought forward
Total funds carried forward		 2025
2024
Unrestricted
fund
Unrestricted
fund
£
£
84,910
52,461
179,245
199,142
491,780
453,065
1,550
1,490
-
4,526
757,485
710,684
356,750
387,940
352,957
336,590
709,707
724,530
47,778
(13,846)
-
-
47,778
(13,846)
40,740
54,586
88,518
40,740

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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CHANGING LIVES CHARITY (Registered number: 9517906) BALANCE SHEET AS AT 30 SEPTEMBER 2025

Note
FIXED ASSETS
Tangible Fixed Assets
9
CURRENT ASSETS
Debtors
10
Cash at Bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT (LIABILITIES) / ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
12, 13
NET ASSETS
FUNDS
Unrestricted Charitable Funds brought forward 1 October 2024
Surplus/(Deficit) for the year
Unrestricted Charitable Funds at 30 September 2025		 2025
2024
Unrestricted
fund
Total funds
£
£
578,240
534,372
578,240
534,372
33,286
22,931
129,257
86,840
162,543
109,771
360,193
339,903
(197,650)
(230,132)
380,590
304,240
292,072
263,500
88,518
40,740
40,740
54,586
47,778
(13,846)
88,518
40,740

The Charity is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for:

(a) ensuring that the charity keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and,

(b) preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charity.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by:

.............................................................

Daniel Sibthorpe

Date: 2nd June 2026

The notes form part of the financial statements.

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CHANGING LIVES CHARITY (Registered number: 9517906)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Note
Cash flow from operating activities
15
Interest paid
Net Cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Net cash flow from investing activities
Cash flow from financing activities
Loan interest paid
Net cash flow from financing activities
Net increase/decrease in cash and cash equivalents
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Cash and cash equivalents consist of;
Cash at bank and in hand
Dividends, interest and rents from investments		 2025
2024
£
£
109,647
20,838
-
-
109,647
20,838
1,550
1,490
(58,385)
(2,437)
(56,835)
(947)
(10,395)
(21,816)
(10,395)
(21,816)
42,417
(1,925)
86,840
88,765
129,257
86,840
129,257
86,840

The notes form part of the financial statements.

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

1 ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Charity is a company, incorporated in England and Wales, limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute £1 towards the costs of dissolution and liabilities incurred by the Charity in the event of the company being wound up. The address of the registered office is given in the charity information on pages 4 to 5 of these financial statements.

The financial statements are prepared in sterling which is the functional currency of the Charity and are rounded to the nearest £.

Going concern

The Trustees 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:

Incoming Resources

Income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, and it is probable that the income will be received and the amount can be measured reliably. Donations and gifts are accounted for when received. Income tax reclaimed in relation to amounts received under gift aid is included in the same period as the income to which it relates.

Resources Expended

All resources expended are accounted for on an accruals basis.

Direct costs are allocated to charitable activities and raising of funds as appropriate. Support costs are apportioned to charitable activities and raising funds in line with the proportional split of income (excluding donations and investment income). Property expenses are apportioned as support costs with the exception of Andrew House costs which are directly allocated to charitable activities.

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

1 ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives of the discretion of the trustees.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

All fixed assets are stated at purchase cost plus incidental expenses of acquisition. No provision for depreciation has been made for freehold property as it is 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 from corporation tax on its charitable activities.

Debtors

Debtors are measured on initial recognition at settlement amount after any amounts advanced by the Charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Creditors

The Charity has creditors which are measured at settlement amounts.

Financial instruments

The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Pension costs and other post-retirement benefits

The Charity operates a defined contribution pension scheme. Contributions payable to the Charity's pension scheme are charged to profit or loss in the period to which they relate.

Donated goods and services

The value of services provided by volunteers is not incorporated into the financial statements.

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 statements as an estimate based on the value of the contribution.

Concessionary loans

Concessionary loans include those payable to third parties which are interest free or below market interest rates and are made to advance charitable purposes. The charity has applied S34 of FRS102 with regards to the valuation of loans to public benefit entities so that discounted present value and an associated interest charge are not recognised. All loans are measured at cost.

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

2

INCOME
Donations and legacies
Donations
Other income (Gift Aid)
Grant income
Total donations		 2025
2024
£
£
66,476
24,308
14,419
13,453
4,015
14,700
84,910
52,461

Donations include £46,151 received from Keysteps following the closure of the charity on 31 March 2025. Keysteps previously provided bonds to landlords to support tenancy agreements for individuals with a poor credit history. With effect from 1 April 2025, the activities of Keysteps were transferred to Changing Lives Charity, and the charity donated all of its net assets and funds to Changing Lives Charity on winding up.

Charitable activities
Rental Income
Welfare Provision Scheme
Delivery
Other
Total charitable activities
Direct Beneficiary Sales
Sales
Auction sales
Bulky waste
House clearance
Total raising funds
Investments
Income from investments
Total investments
Total income
Charitable activities to raising funds ratio
Grants received, included in the above, are as follows:
Albert Hunt
Laing Trust
Sport England
The Burden Trust
Westport c/o University of the West of England
Grants received under £1,000		 100,469
110,884
64,729
69,307
11,817
11,870
2,230
7,081
179,245
199,142
300,971
304,105
9,529
5,929
132,014
101,137
49,266
41,894
491,780
453,065
1,550
1,490
1,550
1,490
757,485
706,158
27:73
30:70
671,025
652,207
2025
2024
£
£
-
7,000
15
2,530
-
3,600
4,000
-
-
160
-
1,410
4,015
14,700

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

3

4

COST SUMMARY
Charitable
activities
Raising
funds
Direct costs (note 4)
303,442
208,829
Support costs (note 5, restated)
53,308
144,128
356,750
352,957
DIRECT COSTS
Costs of charitable activities
Appliances for Welfare Provision Scheme
Consulting/professional fees
Direct property expenses (see below)
Depreciation - charitable activity
V Plus wellness costs
Welfare Provision Scheme installation
Salaries - charitable activity
Employers NI
Pensions costs
Total direct costs attributable to charitable activities
Direct Beneficiary cost of sales
Bulky waste disposal
Consulting/professional fees
Depreciation - raising funds
Motor vehicle expenses
Operating lease payments
Rental costs for waste
Repairs & maintenance
Salaries - trading employees
Pensions costs - raising funds employees
Total direct costs attributable to beneficiary cost of sales
Total direct costs
DIRECT PROPERTY EXPENSES (Andrew House)
Consulting and professinal fees
Insurance
Light, power, heating
Loan interest on property
Repairs & maintenance
Rates
Telephone and Internet
2025		 Charitable
activities
Raising funds
329,857
201,062
58,083
135,528
387,940
336,590
2025
2024
£
£
47,629
54,968
37,301
45,027
39,176
43,090
985
985
2,652
2,805
5,968
6,644
151,171
150,110
15,676
23,559
2,884
2,669
303,442
329,857
18,057
13,543
3,515
11,404
13,532
8,866
18,000
16,122
5,538
7,439
18,057
13,543
899
-
128,775
127,872
2,457
2,273
208,829
201,062
512,271
530,919
5,850
-
3,683
3,683
10,584
8,114
10,395
21,816
3,010
3,556
4,728
4,578
926
1,343
39,176
43,090
2024

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024

5
SUPPORT COSTS
Advertising and marketing
Bank fees
Charity admin costs (see note 6)
Claims from Keysteps
Food & drink
General expenses
IT software and consumables
Printing, stationery and postage
Staff well-being
Staff training
Subscriptions
Telephone and internet
Travel - national
Charitable activities 27% (2024 -30%)
Direct beneficiary cost of sales 73% (2024 -70%)		 2025
2024
£
£
23,548
20,752
2,528
1,199
134,907
144,949
2,650
-
4,071
3,108
8,907
7,350
8,448
8,432
3,833
1,544
575
-
757
638
624
693
4,802
3,407
1,786
1,539
197,436
193,611
53,308
58,083
144,128
135,528
197,436
193,611

The apportionment of support costs in the prior year has been restated to reflect the respective allocations.

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

6
CHARITY ADMINISTRATION COSTS
Audit & accountancy fees
Salaries
Pensions costs
Employers NI
General expenses
Insurance
IT software and consumables
Rent
Rates
Light, power and heating
Repairs and maintenance
Subscriptions, postage and stationery
Telephone and internet
Interest on loans
Consulting and professional fees
7
STAFF COSTS
Wages and salaries
Social security costs
Pension costs		 2025
2024
£
£
455
3,266
31,105
30,887
593
549
1,742
2,618
990
441
7,778
10,660
8,448
8,433
36,172
34,476
10,843
7,735
10,285
23,298
3,276
10,294
4,457
2,237
1,909
2,064
12,141
7,991
4,713
-
134,907
144,949
311,051
308,869
17,418
26,177
5,935
5,491
334,404
340,537

The average number of employees during the period was 15 (2024 - 15).

No employees received emoluments in excess of £60,000 in 2025 or 2024.

8 INDEPENDENT EXAMINER'S REMUNERATION

The Independent Examiner’s remuneration consists of the following:

For independent examination
For non-audit work		 2025
2024
£
£
1,082
1,030
1,618
1,540
2,700
2,570

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

9
TANGIBLE FIXED ASSETS
COST
As at 30 September 2024
Additions
Disposals
As at 30 September 2025
DEPRECIATION
As at 30 September 2024
Charge
Disposals
As at 30 September 2025
NET BOOK VALUE
As at 30 September 2025
As at 30 September 2024
The loan of £193,963 is secured on the freehold property.
10
DEBTORS
Trade debtors
Other debtors and prepayments
11
CREDITORS: Amounts falling due within one year
Loans from Trustees and related parties
Trade creditors
Social security and other taxes
Other creditors and accruals
Mortgage loan on property repayable under 1 year
Vehicle finance loan		 £
£
520,934
15,908
-
5,223
-
-
520,934
21,131
-
7,888
-
2,528
-
-
10,416
520,934
10,715
520,934
8,020
Freehold
Land &
Buildings
Fixtures &
Fittings		 £
£
20,140
556,982
53,162
58,385
11,190
-
11,190
-
62,112
604,177
14,722
22,610
11,989
14,517
(11,190)
(11,190)
15,521
25,937
46,591
578,240
5,418
534,372
2025
2024
£
£
7,886
10,093
25,400
12,838
33,286
22,931
2025
2024
£
£
110,000
110,000
32,184
17,168
7,566
5,530
13,314
13,242
192,508
193,963
4,621
-
360,193
339,903
Motor
Vehicles
Total

Included in other creditors is £2,474 (2024 - £3,059) in relation to pension contributions owing.

20

CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

12 CREDITORS: Amounts falling due after more than one year

Loans from Trustees
Over 5 years
Over 1 year, under 5 years
Company loan
Over 5 years
Vehicle finance loan
13
SECURED DEBTS
The following secured debts are included within creditors:
Mortgage loan on property
14
RELATED PARTY TRANSACTIONS
The Charity has received loans from trustees and related parties as follows;
Repayable in less than 1 year
Terry Mears
Repayable in over 1 year
Ray Wilson
Repayable in over 5 years
Repayable in over 5 years
Jeff Peacock
Repayable in over 5 years
Management Limited
Management Limited		 2025
2024
£
£
187,500
187,500
5,000
5,000
71,000
71,000
28,572
-
292,072
263,500
2025
2024
£
£
192,508
193,963
2025
2024
£
£
110,000
110,000
5,000
5,000
122,000
122,000
71,000
71,000
65,500
65,500
373,500
373,500

The above concessionary loans are not secured and are interest free.

Between 1 and 5 years
Over 5 years		 127,000
-
65,500
-
192,500
-

During the year, I Burnham, a trustee of the charity was paid consulting fees of £23,525 (2024 - £22,941) in his position as consultant, acting CEO, of the Charity.

Expenses totalling £20 were paid to one trustee for travel during the year ended 30 September 2025 (2024 - £11).

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CHANGING LIVES CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

15 RECONCILIATION OF NET INCOME/ (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Loan interest paid
Increase / (decrease) in creditors
Net cash flow from operating activities
Net income / (expenditure) for year / period
Depreciation and impairment of tangible fixed assets
Loss on disposal of fixed asset
Income from investments
(Increase) / decrease in debtors		 2025
2024
£
£
47,778
(13,846)
14,517
9,851
-
4,703
(1,550)
(1,490)
(10,355)
512
48,862
(708)
10,395
21,816
109,647
20,838

22