OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Compassion Acts

2023-12-31-accounts

Company registration number: 10457781 Charity registration number: 1172948

COMPASSION ACTS LIMITED Company Limited by Guarantee

FINANCIAL STATEMENTS AND

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

https://compassionacts.uk/

COMPASSION ACTS LIMITED

INDEX TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Legal and administrative information 1
Trustees' annual report (incorporating the directors' report) 2 - 7
Independent examiner's report to the trustees 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 19

COMPASSION ACTS LIMITED

LEGAL AND ADMINSTRATIVE INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023

Registered charity name: Compassion Acts Limited
Trustees: Mrs Marlyn Banham
Ms Vivian Cupit
Dr Dympna Edwards (Chair of trustees)
Rev Patrick Evans
Mr William Harrison
Mr Alex Holdsworth
Mrs Anne Leonard - from 17 April to 22 May 2023
Mr Gordon Montgomery - from 17 April 2023
Mr David Oliver - from 17 April 2023
Mr Michael Perrett - to 17 April 2023
Mr Allan Salisbury
Rev Graham Turner - from 17 April 2023
Company secretary: Mr Richard Owens
Chief executive officer: Mr Richard Owens
Charity registration number: 1172948
Company registration number: 10457781
Registered office address: Victoria Centre
197A Sussex Road
Southport
PR8 6DG
Charity website: https://compassionacts.uk/
Independent examiner: Lifestyles Accountancy Limited
39 Kirklees Road
Southport
PR8 4RB
Bankers: HSBC Plc
331 Lord Street
Southport
PR8 1NJ

Page 1 of 19

COMPASSION ACTS LIMITED

TRUSTEES' ANNUAL REPORT (incorporating the directors' report)

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees submit their annual report and financial statements for the year ended 31 December 2023. The financial statements follow the requirements of the revised Charities Statement of Recommended Practice (FRS 102) (second edition - October 2019) – 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). For the purpose of charity law, directors are also the company’s trustees and are responsible for making all major decisions on behalf of the company and are referred to throughout this report as trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee, formed on 2 November 2016 and governed by its memorandum and articles of association as amended by special resolution registered at Companies House on 7 March 2017 as amended on 22 May 2019.

The charity is overseen by a board of trustees. The foodbanks are provided within the Trussell Trust guidelines and the debt advice within the Community Money Advice guidelines both of which provide some external governance support. We are also regulated by the Financial Conduct Authority.

Recruitment and appointment of trustees

The board reviews its balance of skills periodically and seeks to appoint new trustees when skills gaps are identified. Appointment of trustees would first be considered through an application process and interview, followed by a majority board vote. Induction is provided by the current board and the chief executive and ongoing training is undertaken on an “as and when” basis.

Trustee induction and training

The current board of trustees provide any new trustee with an overview of the timetable of board meetings, copies of the recent minutes of meetings, the recent reports and financial statements and explains their general and specific responsibilities.

Following open advertising, four new trustees joined the board in 2023 adding skills and experience. During the year the board developed subcommittees for risk, finance and human resources. With trustee, staff and in some cases volunteer or external support on each committee these board subcommittees have developed policies and action plans. They have provided assurance to the board that the charity is managing its statutory responsibilities. The charity undertook an external audit of financial systems in 2023 which provided robust assurance on the processes in place.

Risk management

The charity has undertaken risk assessments for each venue and area of activity and developed a high-level risk register to enable the board to oversee the risks to achieving its objectives and to put plans in place to ensure that these are addressed.

Page 2 of 19

COMPASSION ACTS LIMITED

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Pay setting policy

During 2021 a remuneration policy was drafted and approved and implemented in 2022. This policy benchmarks pay rates with a view to be able to provide at least the real living wage and all paid staff are remunerated in accordance with this policy.

Related parties

During each trustee meeting a register of interests is taken to ensure that all possible related parties are known. Throughout the year there were no known related party transactions.

OBJECTIVES AND ACTIVITIES

Who we are

Compassion Acts is a Christian charity based in Southport and surrounding areas that aims to reduce and prevent poverty through various interventions.

What we do

We do this through a range of programmes managed by volunteers and led by a small and dedicated team of staff. These programmes include:

This Trustees report along with the annual accounts form the charity’s annual report to the Charity Commission. It is supplemented by an Impact Report which tells a more personal story of how the charity has touched the lives of those involved. The charity trustees have due regard to the guidance issued by the Charity Commission on public benefit.

The charity invests in people, providing food, support, training and social wellbeing. The activities in 2023 were conducted by dedicated team comprising a small number of paid staff and over 200 volunteers. Many recipients have become volunteers and give back as part of their journey. Without the commitment of everyone involved we wouldn’t have had the impact that we have had.

Page 3 of 19

COMPASSION ACTS LIMITED

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE

2023 at a glance. We:

Embedding our strategy

Compassion Acts adopted a preventive strategy in 2021 “Going upstream” which aims not only to support people affected by poverty but also to tackle the causes of poverty and enable people to overcome poverty.

In the midst of a cost-of-living crisis in 2023 the need for emergency food has remained stable at a time when many foodbanks have experienced an increase in need. We expanded our preventive services to tackle this challenge and believe that this is key to stopping the need for emergency food. We would like it to reduce further but are heartened at the progress made to date.

Our welfare advice service provided advice and support to over 2,000 people and as a result those people now have £2m additional income to support them and keep them out of poverty (an average of £913 each). The team have provided training and support to Skelmersdale Foodbank as a partnership arrangement. Similarly, there has been a large increase in the amount of debt being managed (up from £300,000 in 2022 to £519,000 in 2023).

We have supported local families through subsidised weekly shops in 5 food pantries, providing year-long support. Alongside the food provision runs a social wellbeing programme to build confidence, skills and promote wellbeing, supplementing a monthly community market. Our focus is on supporting the whole family or household and there are good links between the family programme, school uniform provision, social wellbeing programme and food provision.

Page 4 of 19

COMPASSION ACTS LIMITED

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE (continued)

Engagement

We have explored new ways to engage with our local community in addressing need and supporting families. Over one thousand people visited our Community Hub drop-in Southport Town Centre in 2023. This houses the school uniform hub and other drop in services and is not associated with some of the preconceptions of food charities. It is staffed in such a way that queries can be dealt with swiftly and people signposted to our own and partner services, and has also been made available to third party groups.

Our welcome spaces which have grown from the Sefton CVS warm space initiative has provided an opportunity for social engagement and building community at the same time as reducing social isolation and supporting the work of the charity.

As part of the Organisation and Mobilisation programme we have engaged with recipients and to understand local needs and how we can best meet these needs.

In 2023 we continued the work of strengthening what we do. We have actively participated in the Trussell Trust Pathfinder programme to share best practice and visited other foodbanks to learn from other organisations.

We are blessed with 10 staff and over 200 volunteers. We have invested in leadership development for the team. Our annual volunteer awards event recognised and thanked volunteers for their commitment and contribution. Communication was enhanced through regular training and newsletters and bulletins. We seek to understand views and ensure input from our diverse team as we review and develop work across the charity.

In 2023 we engaged with church leaders to understand current issues and inform our next strategic plan. This is strengthening relationships and our planning.

FINANCIAL REVIEW

Review and summary of the year

The results for the year and state of the charity's affairs at 31 December 2023 are set out in the financial statements on pages 9 to 19 showing income of £513,287 (2022 - £642,556) and expenditure of £636,251 (2022 - £573,650).

The charity recorded an overall deficit of £122,964 (2022 - £68,906 surplus) for the year bringing the total funds to a surplus of £338,450 (2022 - £461,414). This deficit however was mainly as a result of spending restricted grants that had been received in previous years for specific projects.

Page 5 of 19

COMPASSION ACTS LIMITED

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW (continued)

Review and summary of the year (continued)

The board invested some of its reserves in expanding preventive work during the year. This increased expenditure on programmes, staffing and support costs and resulted in a planned deficit of just over £80K in unrestricted reserves. With a balance of just over £338K the charity remains in a strong and sustainable financial position. A substantial portion of this reserve had been designated for future use as outlined in note 12 in the annual accounts.

Principal funding sources

Grants and donations were the largest source of the income of £459K in 2023, although these had reduced from 2022 in line with the cost-of-living pressures. The income from charitable activities in contributions from food pantry members doubled in the same year.

Reserves policy

The trustees have agreed that the reserves policy is to hold free unrestricted reserves to cover at least six months’ expenditure in the event that there is a significant reduction in income in order to offer continuity of service to its stakeholders. The trustees calculate this to be about £318K which includes the value of donated food given out.

At the year end there was a total of £294,698 available in unrestricted reserves, of which £81,600 was designated for specific spending in the following year. The trustees are of the opinion that whilst this is a little lower than the calculated minimum, it is deemed sufficient but would be prudent to increase fundraising efforts in the coming year to ensure the position remains healthy.

PLANS FOR FUTURE PERIODS

The charity's strategic plan is due to be renewed during 2024 and the board has started a process of engagement and consideration to inform the new strategic plan with workshops, and events with stakeholders.

THANK YOU TO OUR DONORS, REFERRAL PARTNERS AND VOLUNTEERS

We thank everyone who has donated time, food and funding. This has included regular donations of food and funding from individuals as well as donations from Churches, other charities such as the Trussell Trust and statutory organisations such as local councils. The charity seeks funding from organisations which have similar values and objectives as well as from statutory organisations. We recognise that it is a difficult financial climate for many funding organisations and are grateful to those individuals and organisations who have continued to support our work and the individuals and families that we support.

Page 6 of 19

COMPASSION ACTS LIMITED

TRUSTEES' ANNUAL REPORT (incorporating the directors' report) (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPROVAL

This report was approved by the board of trustees on 13 May 2024 and signed on its behalf by:

………………………………

Dr Dympna Edwards - Chair of trustees

Page 7 of 19

COMPASSION ACTS LIMITED

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF COMPASSION ACTS LIMITED

FOR THE YEAR ENDED 31 DECEMBER 2023

I report to the trustees on my examination of the financial statements of Compassion Acts Limited ('the charity') for the year ended 31 December 2023, which are set out on pages 9 to 19.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a qualified 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 matters have come to my attention in connection with the examination giving me cause to believe that, in any material respect:

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

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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 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.

Daniel Styles FCA (Independent examiner)

Dated: 13 May 2024

for and on behalf of Lifestyles Accountancy Limited 39 Kirklees Road, Southport, PR8 4RB

Page 8 of 19

COMPASSION ACTS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account)

FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
Note £ £ £ £
Income from:
Donations and legacies 2(a) 337,451 121,238 458,689 620,524
Charitable activities 2(b) 45,159 - 45,159 21,047
Other income 2(c) 4,262 - 4,262 -
Investment income 2(c) 5,177 - 5,177 985
Total income 392,049 121,238 513,287 642,556
Expenditure on:
Charitable activities 3 472,074 164,177 636,251 573,650
Total expenditure 472,074 164,177 636,251 573,650
Net (expenditure) / income (80,025) (42,939) (122,964) 68,906
Total funds brought forward 374,723 86,691 461,414 392,509
Total funds carried forward 294,698 43,752 338,450 461,414
----- End of picture text -----

The Statement of Financial Activities includes gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an Income and Expenditure account under the Companies Act 2006.

The Statement of Financial Activities for the comparative year can be found in Note 14.

The notes on pages 11 - 19 form part of these financial statements.

Page 9 of 19

Company registration number: 10457781

Charity registration number: 1172948

COMPASSION ACTS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023

----- Start of picture text -----
2023 2022
Note £ £
Fixed assets
Tangible assets 7 11,017 8,657
Current assets
Stocks 8 31,435 33,321
Debtors 9 2,030 2,865
Cash at bank and in hand 365,891 419,812
399,356 455,998
Less: Current liabilities
Creditors falling due within one year 10 (71,923) (3,241)
Net current assets 327,433 452,757
Net assets 338,450 461,414
Reserves
Restricted funds 13 43,752 86,691
Designated funds 12 81,600 90,000
Unrestricted funds 12 213,098 284,723
Total funds 338,450 461,414
----- End of picture text -----

For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 13 May 2024, and are signed on behalf of the board by:

………………………………

Dr Dympna Edwards - Chair of trustees

The notes on pages 11 - 19 form part of these financial statements.

Page 10 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 ACCOUNTING POLICIES

1.1 Charity information

Compassion Acts Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Victoria Centre, 197A Sussex Road, Southport, PR8 6DG.

1.2 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Designated funds are those unrestricted funds set aside by the Trustees for specific purposes.

Page 11 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 ACCOUNTING POLICIES (continued)

1.5 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% straight line Office equipment 25% straight line Motor vehicles 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks represent food and consumables held by the Foodbank & Food Pantry. Food stocks are stated at an average value provided by the Trussell Trust. Other stocks are stated at the lower of cost or net realisable value.

1.9 Cash or cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Page 12 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 ACCOUNTING POLICIES (continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2 INCOME

(a)
Donations and gifts
Grants
Donated goods and services
(b)
Charitable activities
Food Pantry - Members' contributions
(c)
Other
Events
Bank interest
Total Income		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
£
£
£
159,186
-
159,186
7,227
121,238
128,465
171,038
-
171,038
337,451
121,238
458,689
45,159
-
45,159
4,262
-
4,262
5,177
-
5,177
9,439
-
9,439
392,049
121,238
513,287		 Total
Funds
2022
£
150,447
297,382
172,695
620,524
21,047
-
985
985
642,556

Page 13 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

3 EXPENDITURE ON CHARITABLE ACTIVITIES

2023
2023
2023
2023
2023
£
£
£
£
£
Advertising/awareness
2,042
2,042
2,322
3,072
9,478
Direct project expenses
211
211
429
1,978
2,829
Donated foodstock
-
180,051
23,924
-
203,975
Premises costs
16,977
22,759
22,675
26,104
88,515
Sundry expenses
794
51
567
326
1,738
Travel and motor
144
3,132
2,770
39
6,085
Wages and staff costs (inc training)
84,126
53,589
47,489
60,877
246,081
Winter assistance
5,448
5,448
5,448
5,448
21,792
Total charitable costs
109,742
267,283
105,624
97,844
580,493
Share of support costs (see note 4)
10,541
25,673
10,146
9,398
55,758
120,283
292,956
115,770
107,242
636,251
Analysis by fund
Unrestricted Fund
81,928
258,908
75,182
56,056
472,074
Restricted Fund
38,355
34,048
40,588
51,186
164,177
120,283
292,956
115,770
107,242
636,251
Total
Advice
Services
Foodbank
Pantry
Social
Wellbeing		 2022
£
7,078
29,460
185,957
67,192
6,298
7,857
209,165
21,609
534,616
39,034
407,143
328,775
244,875
573,650
Total

Page 14 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 SUPPORT COSTS

Premises costs
Depreciation
Travel and motor
Printing, postage and sundry
Telephone, computer and office equipment
Legal and professional fees
Project development and OLM Project
Governance costs		 Unrestricted Restricted
2023
£
£
£
5,299
3,516
8,815
4,488
-
4,488
1,854
-
1,854
7,613
12
7,625
22,381
3,237
25,618
6,180
-
6,180
-
-
-
1,178
-
1,178
48,993 6,765
55,758
Support Costs		 2022
£
15,393
2,254
-
2,359
16,368
1,550
432
678
39,034
Independent Examiners fee
Totals

Support costs includes the Independent examiners fee payable to Lifestyles Accountancy Limited of £1,178 (2022 - £678).

In the current year, costs in respect of rent and utilities, motor expenses and project costs have been allocated directly to the relevant charitable activities.

5 TRUSTEES

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2022 - none).

6 EMPLOYEES

The average monthly number of employees during the year were:
Number (full time equivalent)
Employment Costs
Wages and salaries
Social security costs
Pension costs		 2023
Number
14 (8.6)
2023
£
220,580
9,539
10,295
240,414		 2022
Number
11 (7.3)
2022
£
186,294
8,290
10,093
204,677

No employee earned more than £60,000 throughout the year (2022 - none).

Page 15 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
7 FIXED ASSETS
Fixtures and Office Motor
Fittings Equipment Vehicles Total
£ £ £ £
Cost
At 1 January 2023 6,622 2,326 10,944 19,892
Additions 1,125 323 8,400 9,848
- -
Disposals (6,000) (6,000)
A 31 December 2023 7,747 2,649 13,344 23,740
Depreciation
At 1 January 2023 1,715 2,326 7,194 11,235
Charge for the year 1,557 81 2,100 3,738
- -
Disposals (2,250) (2,250)
A 31 December 2023 3,272 2,407 7,044 12,723
Net book value
A 31 December 2023 4,475 242 6,300 11,017
At 31 December 2022 4,907 - 3,750 8,657
8 STOCKS
2023 2022
£ £
Food stock and consumables 31,435 33,321
9 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Gift aid receivable 2,030 1,618
-
PAYE repayable from HMRC 1,247
2,030 2,865
----- End of picture text -----

Page 16 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other creditors
HMRC
Accruals and deferred income		 2023
£
3,005
1,459
4,402
63,057
71,923		 2022
£
-
1,241
-
2,000
3,241
11
12		 Tangible fixed assets
Current assets
Current liabilities
General Funds
Designated Funds:
Renewable Energy Fund
Van replacement fund
Project Development Fund
Additional Storage fund
Contingency Fund
Prior year
General Funds
Designated Funds:
Renewable Energy Fund
Van replacement fund
Project Development Fund
Additional Storage fund
Contingency Fund
UNRESTRICTED FUNDS
ANALYSIS OF NET ASSETS		 Balance at
01.01.23
£
284,723
20,000
15,000
25,000
10,000
20,000
374,723
Balance at
01.01.22
£
173,205
20,000
15,000
20,000
10,000
20,000
258,205		 Restricted Unrestricted
Total
2023
2023
2023
£
£
£
-
11,017
11,017
43,752
355,604
399,356
-
(71,923)
(71,923)
43,752
294,698
338,450
Transfers
Received
Expended
in year
in year
in year
£
£
£
8,400
392,049
(472,074)
-
-
-
(8,400)
-
-
-
-
-
-
-
-
-
-
-
-
392,049
(472,074)
Transfers
Received
Expended
in year
in year
in year
£
£
£
(15,000)
445,294
(318,775)
-
-
-
-
-
-
15,000
-
(10,000)
-
-
-
-
-
-
-
445,294
(328,775)		 Total
2022
£
8,657
455,998
(3,241)
461,414
Balance at
31.12.23
£
213,098
20,000
6,600
25,000
10,000
20,000
294,698
Balance at
31.12.22
£
284,723
20,000
15,000
25,000
10,000
20,000
374,723

Page 17 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

12 UNRESTRICTED FUNDS (continued)

The designated funds are for the following purposes:

13 RESTRICTED FUNDS

Restricted Funds
Prior year
Restricted Funds		 Balance at
Transfers
Income
Expenditure
01.01.23
in year
in year
in year
£
£
£
86,691
-
121,238
(164,177)
Balance at
Transfers
Income
Expenditure
01.01.22
in year
in year
in year
£
£
£
134,305
-
197,262
(244,875)		 Balance at
31.12.23
£
43,752
Balance at
31.12.22
£
86,691

Restricted funds include grants and donations received by the charity during the year with specified expenditure areas on which these funds can be used. As the charity has grown and additional departments have been created relating to the charitable activities, in order to aid understanding of the financial statements, these charitable activities and their associated expenditures from restricted and unrestricted funds can be seen in detail in Note 3.

As the funding sources have specified restrictions on the income both in terms relating to the departments used internally, and also to the type of expenditure, which can then go across charitable activity categories and also support costs, the classification of restricted funds by charitable activity is no longer appropriate.

Page 18 of 19

COMPASSION ACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

14 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Income from:
Donations and legacies
Charitable activities
Other income
Investment income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income / (expenditure)
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Funds
Funds
2022
2022
£
£
423,262
197,262
21,047
-
-
-
985
-
445,294
197,262
328,775
244,875
328,775
244,875
116,519
(47,613)
258,204
134,304
374,723
86,691		 Total
Funds
2022
£
620,524
21,047
-
985
642,556
573,650
573,650
68,906
392,508
461,414

Page 19 of 19