Company registration number: 10457781 Charity registration number: 1172948 CVMPASSION COMPASSION ACTS LIMITED Company Limited by Guarantee FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 htt s-llcom assionacts.ukl
COMPASSION ACTS LIMITED INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Legal and administrative information Trustees, annual report (incorporating the directors, report) Independent examiner's reporl to the trustees Statement of financial activities Balance sheet 10 Notes to the financial statements
COMPASSION ACTS LIMITED LEGAL AND ADMINSTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 Registered charlty name: Compassion Acts Limited Trustees: Mrs Marlyn Banham Ms Vivian Cupit Dr Dympna Edwards Rev Patrick Evans Mr William Harrison Mr Alex Holdsworth Mr Gordon Montgomery Mr David Oliver Mrs Linden Robinson Mr Allan Salisbury Rev Graham Turner -to 13 May2024 (Chair of trustees) to 13 May 2024 - from 13 May 2024 -to 13May2024 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 Soulhport PR8 6DG Charity website: htt s:Ilcom assionacts.ukl Independent examiner: J A Fell & Company 40 Hoghton Street Southport PR9 OPQ Bankers: HSBC PIC 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 2024 The trustees submit their annual report and financial statements for the year ended 31 December 2024. 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. This trustees report will outline how the charity has responded to a year of significant challenge in finances. food security and connection for our communities, and the difference our dedicated team of staff and volunteers have made in people's lives through the range of programmes to tackle poverty in all its forms. This report along with the annual accounts form the charity's annual report to the Charity Commission. 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 supporl. 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 trainlng 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. Three trustees retired in 2024 and one joined the board. The subcommittees continued to provide assurance to the board and this has been strengthened in the development of a fundraising committee. Pag&2of19
COMPASSION ACTS LIMITED TRUSTEES. ANNUAL REPORT (incorporating the directors. report) (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT {continued} Risk management The charity has underlaken 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. 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 which is reviewed annually. 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: Emergency food relief though 6 Trussell Trust food banks: Prevention of crisis through 5 food pantries; Welfare Benefits advice" Debt advice and debt management under franchise of Community Money Advice; and A range of community programmes including social wellbeing, work with families, and refugees. The trustees confirm that they have taken due regard to the guidance issued by the Charity Commission on public benefit when setting the charity's aims and objectives. The charity invests in people, providing food, support, training and social wellbeing. The activities in 2024 described on the next page 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 commitmenl of everyone involved we wouldn't have seen the impact that we have had. Pa99 3of19
COMPASSION ACTS LIMITED TRUSTEES. ANNUAL REPORT (Incorporating the directors. report) (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE 2024 at a glance. We: Responded to local needs and the tragic incident and aftermath in our local community," Developed our local voices programme. engaging people with lived experience and volunteers to understand their experience and direct our work," Developed a new strategy 'Yhriving lives" building on the work of previous strategies," Strengthened our governance, partnerships and engagement,. Reduced poverty through benefits advice with 2,522 people receiving £2. 6m between them in additional income as a result,. Provided 3, 384 subsidised weekly shops for local people in 5 food panlries,. Provided family support to 70 families and school uniform to another 450 families," Reduced social isolation with 2, 113 visits to our 4 warm spaces during the year,. Provided 2,465 items of clothing in our school uniform hub.. and Responded to 1, 183 visitors to our community hub. Tough times, greater reach and deeper impact This was a year where households struggled with rising prices, greater insecurity and increasing instability on the global markets. Our team of staff and volunteers have been alongside our clients every step of the way. We know we cannot solve every crisis in this increasingly complex and fearful world. but with some professionalism and compassion we can make a difference. The tragic events of July 2024 in Southport will be with us for many years ahead, occurring in our local neighbourhood. Our thoughts are with Bebe, Elsie and Alice and all those affected. We are very grateful for the support of the local community, their outpouring of love and their generosity in responding to those affected by the subsequent unrest. It provided an opportunity for us to work across faith boundaries and come together as a community to support healing and strengthen community cohesion. This event occurred as we developed our new strategy for 2025-8 'Thriving lives,. Engagement with local people, stakeholders. volunteers and staff led to the development of the strategy and board approval in October 2024. It builds on the preventive work of the previous years and recognises the impact that poverty can have on people's lives and the difference that we can make at all stages of that journey. Supporting people to not only survive but to thrive is fundamental to what we do. We are proud of our financial inclusion work and the impact that it has on people's lives. It reduces the need for food support and builds financial sustainability and dignity for those involved. The service has also grown, encompassing work for Macmillan support and a neighbouring foodbank in Skelmersdale. In total over two and a half thousand people have been supported through welfare or debt advice resulting in £2.6 million in increased income, just over £1,000 per person on average. This is a significant achievement. Page4 of 19
COMPASSION ACTS LIMITED TRUSTEES. ANNUAL REPORT (incorporating the directors. report) (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE (continued) Engagement (including sumrnary Key Performance Indicators) During the year our foodbanks have provided 1,675 food parcels. providing over three thousand meals, one third to children. Rising cost of essentials was the most common reason for referral. The numbers are comparable to 2023 unlike other areas where numbers experiencing food crisis has risen sharply. This may be due to our investment in preventive programmes which provide support for individuals and families before a possible food crisis starts. There were 3,384 visits to our community pantries, along with 456 visits to the community market- both providing subsidised shopping support over a longer period of time preventing and supporting people out of poverty. During 2024 we strengthened engagement with local people with lived experience of poverty through our local voices programme. The insights showed the impact that financial hardship can have on people's lives and the interplay between financial security. social exclusion. mental health and wellbeing. The way our support is delivered. the listening, support and love of volunteers and staff gave people their dignity back and enabled them to move forward on their life joumey. Volunteers are the front line of much of the support that we deliver. We were blessed with 218 volunteers in 2024. Our volunteer engagement work highlighted what we do well, and where we could improve the volunteer experience. This valuable insight and processes are being built into our mainstream prosses. FINANCIAL REVIEW Review and summary of the year The results for the year and state of the charity's affairs at 31 December 2024 are set out in the financial statements on pages 9 to 19 showing income of £546.713 (2023 - £513.287) and expenditure of £618,639 (2023 - £636.251). The charity recorded an overall deficit of £71,926 (2023 £122,964) for the year bringing the total funds to a surplus of £266,524 {2023 - £338,450). This has been a challenging year financially. The board invested some of its reserves in preventive work in 2024. Staffing costs were higher to deliver programmes and grant funding was not as great as budgeted. Page 5of19
COMPASSION ACTS LIMITED TRUSTEES. ANNUAL REPORT {incorporating the directors, report) (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW (continued) Review and summary of the year (continued) As significant grant funding of core costs is due to end in 2025 the charity put increased efforts in actively fundraising in the second half of 2024 and in managing costs during the year. A proportion of the reserves have been invested in additional fundraising capacity. A management review and plan has been undertaken. The finance committee scrutinises the finances of the charity and provides regular reports to the board. It plans the budget and regularly reviews income. expenditure and financial controls as part of assurance to the board. The charity remains in a sustainable financial position and the 2025 budget reflects lower expenditure in line with the management review. Principal funding sources Grants and donations (including the value of donated foodstocks) were the largest Sour of income of £475K in 2024, and despite the value of the foodstocks having risen it was pleasing to see that individual donations had also increased in the year. Reserves policy The trustees have actively considered the reserves policy to hold free unrestricted reserves to cover at least 6 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 are of the opinion that although this is currently at the right level, it will be kept under review during 2025 and will Consider whether a drop to hold 4 month reserves going forward would be appropriate. At the year end there was a total of £237,376 available in unrestricted reserves. PLANS FOR FUTURE PERIODS "Thriving lives" our strategy for 2025-8 outlines our approach and aspirations. The organisation has actively managed the risk register and ensured action to reduce risks. A management review and more balanced budget have been agreed to manage financial risks moving forward. THANK YOU TO OUR DONORS. REFERRAL PARTNERS AND VOLUNTEERS We thank everyone who has donated time, food and funding. There are churches, individuals and cornmunity groups who week in and week out donate food and funds. The operation of our charity and its projects simply could not manage without this loyal group of donors. We are all part of the efforts to tackle poverty and improve wellbeing, building resilient and cohesive communities. WHAT OUR BENEFICIARIES SAY "Your serrfice is a life-saver" Foodbank client Page6of19
COMPASSION ACTS LIMITED TRUSTEES. ANNUAL REPORT (incorporatlng the directors. report) (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 WHAT OUR BENEFICIARIES SAY (continued) 'This winter we can put the heating on, and know we can pay for it. Last year we sat in blankets for fear of Éhe bills" Benefits Advice client "B8fore we came to Pantry we were struggling to feed our family and we worried constantly about it. The Pantry has taken that worry away. We can't thank everyone enough" . Food Pantry client "I came away with such a lot of school unifom7 and its in great condition. What a great help because its so expensive every summer to kit out my growing family" _ Uniform Hub client "We really enjoyed it and are so grateful for the volunteers putting in time to give the families a lovely time" Family Space parent 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: select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements., and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records which disclose wilh 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 2025 and signed on its behalf by.. Dr Dympna Edwards - Chalr 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 2024 I report to the trustees on my examination of the financial statements of Compassion Acts Limited ('the charity'} for the year ended 31 December 2024, 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 l am qualified to undertake the examination because l 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: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financial statements do not accord with those records. or 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 nol a matter considered as part of an independent examination. or 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. O J Grills FCA (Independent examiner) Dated: . 2025 for and on bghalf of J A F¢ll & Company Chartèr•d Accountants 40 Hoghton Street. Southport, PR9 OPQ Page8of19
COMPASSION ACTS LIMITED STATEMENT OF FINANCIAL ACTIVITIES {including Income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Note Income from: Donations and legacies Charitable activities Fundraising income Investment income Totsl income 2{a) 2(b) 2(c) 2(d) 334,917 59.353 1,082 10,785 406,137 140,576 475,493 59.353 1,082 10,785 546,713 458,689 45. 159 4,262 5,177 513,287 140,576 Expenditure on: Charitable activities Total expenditure 463,459 463,459 155,180 155,180 618,639 618,639 636, 251 636,251 Net (expenditure) (57,322) (14,604) {71,926) (122, 964) Total funds brought forward 294,698 43,752 338,450 461,414 Total funds carried forward 237,376 29,148 266,524 338,450 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 staternents. Page9of 19
COMPASSION ACTS LIMITED Company registratSon number.. 104S7781 Charity règlstration numbgr- 1172948 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets 7,278 11,017 Current assets Stocks Debtors Cash at bank and in hand 44.711 2.236 225,242 272,189 31,435 2, 030 365,897 399,356 Less: Current liabillties Creditors falling due within one year Net current assets (12,943) 259,246 (71,923) 327.433 Net assets 266,524 338,450 Reserves Restricted funds Designated funds Unrestricted funds Total funds 12 11 11 29,148 43, 752 87,600 213,098 338.450 237,376 266,524 For the year ending 31 December 2024 the charity was entitled to exemplion from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 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 2025. 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 100119
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 laken 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 staternents. 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. Page11 of19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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. Donated goods are included as income based upon their weight and an average value provided by the Trussell Trust is applied. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequenlly 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 Office equipment Motor vehicles 25 % straight line 25°/o Straight line 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 incomel(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 lo 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. Paga 12 of19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (continued) 1.9 Cash or cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 :Other Financial Instrumenls 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 sel 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. INCOME Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 (a) Donations and legacies: Donations and gifts Grants Donated goods and services 166,291 2,000 166,626 334,917 166,291 142,576 166,626 475,493 159. 186 128,465 171,038 458, 689 140,576 140,576 (b) Charitable activities.. Food Pantry - Members, contributions 59,353 59,353 45, 159 (c) Fundraising income: Events 1.082 1,082 4, 262 (d) Investment income: Bank interest 10.785 10,785 5, 177 Total Income 406,137 140,576 546,713 513,287 Page13of19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Direct charitable costs: Value of donated food stock used Food stock purchased Client support Resources External professionals Catering 153,350 10,805 730 6,608 2,846 2,243 176,582 153,350 19,543 5,893 8,288 3.816 3,946 194.836 172, 405 31.570 76,016 8,718 6, 180 938 235, 827 8,738 5,163 1.680 970 1.703 18,254 Personnel costs: Wages and salaries National Insurance Pension costs - Defined contribution Training Travel Uniforms 147,486 12,656 11,965 11,631 2.479 396 186,613 113,655 261.141 12,656 11,965 11,739 2,479 396 300,376 220.529 9,539 10,295 5,717 1,861 1,072 249,073 108 113,763 Premises costs: Rent Repairs and maintenance Electricity and gas Rates and water 29.895 13,434 13,867 4,526 61,722 19,325 1,934 49,220 15,368 13,867 4,526 82,981 45,897 36,512 11,270 1,640 95,319 21,259 Administration and support costs: Memberships Equipment Computer hardware and software Telephone Printing Postage Stationery Insurance Vehicle costs Bank charges Depreciation Awareness raising Accountancy fees 4,691 2,586 7,680 4,599 1,808 154 605 1,649 6,136 489 3,737 1,892 2,516 38.542 4.691 4.037 8,080 4,599 1.808 154 605 1,649 6,136 489 3,737 1.945 2,516 40,446 1.701 2, 205 16,681 6, 733 4.642 373 155 2, 604 6,078 367 4,487 9,477 1,178 55, 503 1.451 400 53 1.904 Total Expenditure 463,459 155,180 618,639 636,251 Pagè 14 of19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 EXPENDITURE ON CHARITABLE ACTIVITIES (continued) The independent examiner's remuneration amounts to an independent examination fee of £1,440 (2023 - £678) and payroll services of £576 (2023 - accounting services of £1,046). TRUSTEES AND KEY MANAGEMENT PERSONNEL None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023 - none). The total amount of employee benefits received by key management personnel was". 2024 2023 Wages and salaries National Insurance costs Pension costs - Defined contribution 114,540 12,041 6,872 133,453 102,878 9,247 6,776 118,301 The trustees consider that the key management personnel within the charity are the chief execulive office plus the 2 heads of department. EMPLOYEES 2024 Number 2023 Number The average monthly number of employees during the year were: Number (full time equivalent) 16 {9.9 14 (8.6) Employment Costs 2024 2023 Wages and salaries National Insurance costs Pension costs - Defined contribution 261,141 12.656 11,965 285,762 220, 529 9. 539 10,295 240,363 No employee earned more than £60,000 throughout the year {2023 - none). Page 15of19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSETS Fixtures and Fittings Office Equipment Motor Vehicles Total Cost At 1 January 2024 Additions Disposals A 31 December 2024 7,747 2,649 13,344 23,740 7,747 2,649 13.344 23,740 Depreciation At 1 January 2024 Charge for the year On disposals A 31 December 2024 3,272 1,558 2,407 81 7,044 2,100 12,723 3,739 4,830 2,488 9,144 16,462 Net book value A 31 December 2024 2,917 161 4,200 7,278 At 31 December 2023 4,475 242 6,300 11,017 STOCKS 2024 2023 Food stock and consumables 44,711 31,435 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Gift aid receivable 2,236 2,236 2, 030 2, 030 Page 160119
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors Tax and social security Accruals and deferred income 5.000 1,643 4,360 1.940 12,943 3,005 1,459 4,402 63,057 77,923 10 ANALYSIS OF NET ASSETS Restricted Unrestricted Total 2024 2024 2024 Total 2023 Tangible fixed assets Current assets Current liabilities 7.278 243.041 (12,943) 237,376 7,278 272,189 12,943) 266,524 11,017 399, 356 (71,923) 338,450 29,148 29,148 Restricted Unrestrlcted Total 2023 2023 2023 Total 2022 Prior year Tangible fixed assets Current assets Current liabilities 11,017 11.017 355,604 399.356 (71.923) (71,923) 294,698 338.450 8, 657 455,998 (3, 241) 461,414 43,752 43,752 11 UNRESTRICTED FUNDS Balance at Transfers Received Expended Balance at 01.01.24 In year in year in year 31.12.24 General Funds Desi nated Funds: Renewable Energy Fund Van replacement fund Project Development Fund Additional Storage fund Contingency Fund 213,098 81,600 406,137 (463,459) 237,376 20,000 6,600 25,000 10,000 20,000 294,698 (20.000) (6,600) (25,000) {10,000) 20,000 406,137 (463,459) 237,376 Page 17 of 19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 11 UNRESTRICTED FUNDS (continued) Balance at Transfers 01.01.23 in year Received Expended Balance at in year In year 31.12.23 Prior year General Funds Desi nated Funds.. Renewable Energy Fund Van replacement fund Proje¢l Development Fund AddAtional Storage fund Contingency Fund 284, 723 8, 400 392, 049 (472,074) 273,098 20, 000 15,000 25, 000 10,000 20,000 374.723 20,000 6,600 25,000 10,000 20, 000 294,698 (8,400) 392,049 (472.074 The designated funds in the prior year were for the following purposes.. Renewable Energy Fund - Towards the cost of replacing the current heating system with a renewable energy alternative. Van Replacement Fund - Towards the cost of replacing the charity's existing vans with modern EV and charging points accordingly. Project Development Fund - to provide funding to explore and start new projects during the coming years as the charity grows. Additional Storage Fund to provide for additional cost of storage of the growing stock held by the charity as more of the usable space is used for office rather than storage. The Contingency Fund is provided as a contribution towards three months running costs in the event of any downturn in income received. During the year the trustees reviewed the both the level of reserves and budgets for 2025 and agreed to remove all previously designated funds whilst they focus on more fundraising activities in the coming year. 12 RESTRICTED FUNDS Balance at Transfers 01.01.24 in year Income in year Expenditure Balance at In year 31.12.24 Restricted Funds 43.752 140,576 {155,180) 29,148 Balance at Transfers 01.01.23 In year Income in year Expenditure Balance at in year 31.12.23 Prior year Restricted Funds 86,691 121,238 (164, 177) 43, 752 Page 18of 19
COMPASSION ACTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 12 RESTRICTED FUNDS (continued) 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 Ljnderstanding of the financial statements, these charitable activities and their associated expenditures from restricted and unrestricted funds can be seen in detail in Note 3. 13 OPERATING LEASE COMMITMENTS The charity has entered into a number of non-cancellable operating leases as lessee for which the total of future minimum lease payments are as follows.. 2024 2023 Within one year Later than one year but within five years Later than five years Total 73,241 71, 123 73,241 71,123 14 COMPARA TIVE STA TEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Funds Funds 2023 2023 Total Funds 2023 Income from.. Donations and legacies Charitable activities Fundraising income Investment income Total income 337,451 45, 159 4,262 5,177 392,049 121,238 458, 689 45,159 4, 262 5,177 513,287 121,238 Expenditure on." Charitable activities Total expenditure 472,074 472,074 164, 177 164,177 636,251 636,251 Net income l (expenditure) (80.025) (42,939) 122,964) Total funds brought forward 374, 723 86,691 461,414 Total funds carried forward 294,698 43, 752 338.450 Page 190119