Charity Number: 1172967
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CHARITY INFORMATION
| Trustees | Ian David Lloyd (Chair of Board of Trustees) |
|---|---|
| Justin Duncan (Treasurer – appointed 9 April 2025, resigned 28 April | |
| 2026) | |
| Sarah Thake | |
| Greg Wood | |
| Andrew Wigmore | |
| Marion Arnold (appointed 9 April 2025) | |
| Sarah Beisley (resigned 31 August 2025) | |
| Gordon Ross (resigned 15 Jan 2025) | |
| Charity number | 1172967 |
| Registered office | Queens Arms |
| Great Knollys Street | |
| Reading | |
| RG1 7HL | |
| Website | www.newbeginningsreading.org |
| Bankers | Metro Bank Plc |
| Charity Manager | Richard Silcock (resigned 1 December 2025) |
| Rebecca Lawson (appointed 1 April 2026) |
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CONTENTS
| Page | |
|---|---|
| Chair’s report | 1 |
| Independent examiner’s report to the financial statements | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement of assets and liabilities | 6 |
| Fund movement by type | 7 |
| Notes to the financial statements | 8 |
| Detailed statement of financial activities | 13 |
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CHAIR’S REPORT
Objectives and Activities
During the 2024/25 financial year, New Beginnings Reading continued to pursue its charitable purpose of supporting individuals and families experiencing financial hardship, homelessness, and social exclusion. The trustees confirm that all activities undertaken during the year were carried out to further the charity’s aims for the public benefit.
Public Benefit Context
Demand for our services continued to rise throughout the year. The ongoing cost-of-living crisis, combined with a severe shortage of affordable housing and rented accommodation in the local area, has disproportionately affected those who are already financially vulnerable. The trustees have had due regard to the Charity Commission’s guidance on public benefit when planning and delivering services.
Achievements and Performance
In response to increasing need, the charity continued to diversify its income sources. This included the ongoing engagement of a professional grant-writing agency, strengthening collaborations with local businesses, and raising awareness of the support we provide.
These efforts contributed to a significant uplift in income. Donations increased by £216,238, and grant funding rose by £20,446, largely due to a one-off donation of £225,000. The improved financial position, combined with an increase in active volunteers, enabled us to introduce an additional All Day Café session on Mondays, expanding our capacity to provide a safe, warm, and welcoming environment for those in need.
Financial Review
The charity’s main fixed costs remain rent and associated utilities and repairs. Discussions with the landlord regarding premises arrangements are ongoing, supported by pro bono legal assistance.
Overall, the charity’s financial position strengthened during the year, providing greater stability and enabling modest service expansion.
Risk Management
The trustees continue to monitor key risks, including:
-
rising demand for services in a challenging economic environment
-
dependency on a small staff team supported by volunteers
-
uncertainty surrounding premises arrangements
-
the need to maintain sustainable and diversified income streams
Mitigations include strengthened financial oversight, ongoing volunteer recruitment, and proactive engagement with funders and partners.
Plans for Future Periods
In May 2025, the trustees held a strategic planning day to begin shaping the long-term vision and future development of the charity’s services in light of the improved financial position. This work will guide decisions on service expansion, organisational capacity, and how best to meet the evolving needs of the community.
1
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CHAIR’S REPORT
Acknowledgements
The trustees extend their sincere thanks to our volunteers, donors, partner organisations, and supporters. The services we provide are made possible only through their generosity, commitment, and shared belief in our mission.
Thank you to our supporters!
New Beginnings Reading simply could not run our services without the amazing support of our community. As a small, local charity we are entirely reliant on voluntary donations to ensure we can continue helping those who need us most. We are incredibly grateful to the wonderful volunteers, community groups, local businesses, charitable trusts, supermarkets donating food and the incredibly generous individuals who are vital to keeping our doors open, our fridges full and creating the vibrant and welcoming atmosphere our guests love. We would especially like to thank all of the local businesses, community groups, charitable trusts and foundations who have supported us during the year.
This report was approved by the Board of Trustees and signed on its behalf by:
Ian Lloyd Chair of Trustees 27[th] May 2026
2
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 INDEPENDENT EXAMINER’S REPORT TO THE FINANCIAL STATEMENTS
Report to the Trustees of New Beginnings Reading (Charity Number: 1172967) on the Financial Statements for the year ended 30 June 2025
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under Section 145 of the Charities Act
-
follow the procedures laid down in the general directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act); and
-
State whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
The accounting records were not kept in accordance with section 130 of the Charities Act; or
-
• the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
…………………….
Rachel Eden May 2026
3
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 STATEMENT OF FINANCIAL ACTIVITIES
Income & endowments from: Donations & Legacies Grants Gift Aid Total income & endowments Expenditure on: Maintenance/Utilities Rent & Rates General Services Management & Administration Staff Marketing & Advertising Total expenditure Net income/(expenditure) Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Restricted Restricted fund |
Year ended 30 June 2025 Unrestricted funds £ 293,422 65,296 1,150 359,868 21,872 24,000 3,021 9,156 41,309 13,500 112,858 247,010 247,010 62,350 309,360 309,360 - |
Year ended 30 June 2025 Restricted funds £ 6,460 700 - 7,160 - - 7,160 - - - 7,160 - - - - - - |
Year ended 30 June 2025 Total funds £ 299,882 65,996 1,150 367,028 21,872 24,000 10,181 9,156 41,309 13,500 120,018 247,010 247,010 62,350 309,360 309,360 - |
Year ended 30 June 2024 Total funds £ 83,644 45,550 1,384 |
|---|---|---|---|---|
| 130,578 21,263 26,000 10,506 3,845 40,672 17,280 |
||||
| 119,566 | ||||
| 11,012 | ||||
| 11,012 | ||||
| 51,338 | ||||
| 62,350 62,350 - |
4
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 BALANCE SHEET
| Note Fixed assets Tangible assets Total fixed assets Current assets Cash at bank and in hand Trade and other debtors 6 Total current assets Current liabilities Trade and other creditors 7 Total current liabilities Net current assets less current liabilities Total assets less current liabilities Total assets less liabilities Represented by Unrestricted General fund Restricted Restricted fund Total Funds |
30 June 2025 £ - - 307,816 3,000 310,816 1,456 1,456 309,360 309,360 309,360 309,360 - 309,360 |
30 June 2024 £ - |
|---|---|---|
| - 64,883 3,000 |
||
| 67,883 5,533 |
||
| 5,533 | ||
| 62,350 | ||
| 62,350 | ||
| 62,350 62,350 - |
||
| 62,350 |
The financial statements were approved by the Board of Trustees of New Beginnings Reading (CIO 1172967) on 27[th] May 2026 and signed on its behalf by:
Ian Lloyd
Chair of Trustees
New Beginnings Reading
Charitable Incorporated Organisation (CIO)
Registered Charity Number: 1172967
5
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 STATEMENT OF ASSETS AND LIABILITIES
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 STATEMENT OF ASSETS AND LIABILITIES
| Fixed assets Tangible assets Total fixed assets Current assets Cash at bank and in hand Trade and other debtors Total current assets Current liabilities Trade and other creditors Total current liabilities Net current assets less current liabilities Total assets less current liabilities Total assets less liabilities |
30 June 30 June 30 June 30 June 2025 2025 2025 2025 £ £ £ £ General Funds Designated Funds Restricted Funds Total Funds - - - - - - - - 57,816 260,000 - 307,816 3,000 - - 3,000 60,816 260,000 - 310,816 1,456 - - 1,456 1,456 - - 1,456 59,360 260,000 - 309,360 59,360 260,000 - 309,360 59,360 260,000 - 309,360 |
30 June 2024 £ Total Funds - |
|---|---|---|
| - 64,883 3,000 |
||
| 67,883 5,533 |
||
| 5,533 | ||
| 62,350 | ||
| 62,350 | ||
| 62,350 |
7
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 FUND MOVEMENT BY TYPE
| Restricted Funds Community Fridge Total Restricted Funds Unrestricted funds General Fund Total Unrestricted Funds Total Funds |
Opening as at 1 July 2024 £ - - 62,350 62,350 62,350 |
Incoming during the year £ 7,160 7,160 359,868 359,868 367,028 |
Outgoing during the year £ 7,160 7,160 112,858 112,858 120,018 |
Closing as at 30 June 2025 £ - |
|---|---|---|---|---|
| - 309,360 |
||||
| 309,360 | ||||
| 309,360 |
8
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have been consistently applied within these financial statements.
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
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 principal accounting policies adopted are set out below:
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.
Income
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 the income will be received. Donations and grants are recognised once the charity has been notified of the donation or grant, unless performance conditions require deferral of the amount.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Costs of generating funds are those costs associated with attracting voluntary income.
Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with the governance of the charity and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity costs categories consistent with the use of the resource.
Taxation
The charity is exempt from corporation tax on its charitable activities.
9
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the conditions as set by the donors. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
During the year, the charity received a one-off donation of £225,000 which, while not restricted by the donor, has been designated by the trustees for use towards future renovation and refurbishment works. These funds have been set aside to support planned capital improvements to the charity’s premises and will be applied in line with the trustees’ intentions. As designated funds, the balance may be reallocated by the trustees should circumstances change.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Cash and cash equivalents
Cash and cash equivalents include cash in hand and at bank.
Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
The Trustees have had regard to the public benefit guidance published by Charity Commission.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of its operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using effective interest rate.
2. Employees
The average number of employees during the year ended 30 June 2025 was 2 (year ended 30 June 2024: 2). No employee received emoluments in excess of £60,000.
3. Trustees’ remuneration and expenses
No trustee received any remuneration, other benefits, nor was paid any expenses during the year ended 30 June 2025 (year ended 30 June 2024: £nil).
10
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
4. Independent examiner’s remuneration
| . Independent examiner’s remuneration | ||
|---|---|---|
| Independent examination of the financial statements Total independent examiner’s remuneration |
Year ended 30 June 2025 £ 430 430 |
Year ended 30 June 2024 £ 1,500 |
| 1,500 |
The examiner received no other remuneration, and no other services were provided by her firm.
5. Other income
| Bank interest Total other income . Debtors due within one year Prepayments Total debtors due within one year . Creditors due within one year Taxation and social security Accruals Total creditors due within one year |
Year ended 30 June 2025 £ 483 483 30 June 2025 £ 3,000 3,000 30 June 2025 £ 1,456 - 1,456 |
Year ended 30 June 2024 £ 13 |
|---|---|---|
| 13 | ||
| 30 June 2024 £ 3,000 |
||
| 3,000 | ||
| 30 June 2024 £ 983 4,550 |
||
| 5,533 |
6. Debtors due within one year
7. Creditors due within one year
11
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
8. Leasing arrangements
The charity leases its premises from a commercial landlord. The original 5-year lease expired in December 2023 and the charity was served notice to end this tenancy in September 2024 with a proposed end date of March 2025. The original lease is a protected tenancy under the ‘Landlord and Tennant Act 1954’ and, under this protection, the trustees have been negotiating a new lease with the landlord. At the date of this report negotiations are in final stages and agreement to lease the premises going forward is expected to be signed shortly.
The lease is held for the purpose of supporting the charity’s activities. Lease payments are charged to expenditure on charitable activities on a straight-line basis over the term of the lease. At the year end, the charity had the following future minimum lease commitments under non-cancellable operating leases:
| Less than one year Between one and More than five years Total |
30 June 2025 £ 6,000 - - 6,000 |
30 June 2024 £ 18,000 - - |
|---|---|---|
| 18,000 |
9. Related parties
The only related party transactions during the current and prior year’s were donations from trustees. These totalled £10,150 for the year ended 30 June 2025 (year ended 30 June 2024 £7,364).
10. Analysis of restricted fund movements
| Community fridge Total |
As at 1 July 2024 Income Expenditure Transfers As at 30 June 2025 £ £ £ £ £ - 7,160 (7,160) - - |
|---|---|
| - 7,160 (7,160) - - |
All restricted funds are to assist the charity in respect of the provision of services.
12
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
11. Comparatives for the Statement of Financial Activities
| Income & endowments from: Donations and legacies Grants Gift Aid Total income & endowments Expenditure on: Maintenance/Utilities Rent & Rates General Services Management & Administration Staff Marketing & Advertising Total expenditure Net income/(expenditure) Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Restricted Restricted fund |
Year ended 30 June 2024 Unrestricted funds £ 77,294 38,800 1,384 117,478 21,263 26,000 775 3,845 29,648 17,280 98,811 18,667 18,667 43,683 62,350 62,350 - |
Year ended 30 June 2024 Restricted funds £ 6,350 6,750 - 13,100 - - 9,731 - 11,024 - 20,755 (7,655) (7,655) 7,655 - - - |
Year ended 30 June 2024 Total funds £ 83,644 45,450 1,384 |
|---|---|---|---|
| 130,578 21,263 26,000 10,506 3,845 40,672 17,280 |
|||
| 119,566 | |||
| 11,012 | |||
| 11,012 | |||
| 51,338 | |||
| 62,350 62,350 - |
13
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF INCOME AND EXPENDITURE
Analysis of Income
Donations and legacies
| Community Groups Corporate Donations Donations & Events Total Grants Reading Borough Council Trusts/Foundation Grants Lottery Grant Total Admin Gift Aid Total |
Year ended 30 June 2025 Unrestricted funds £ 5,405 34,408 253,609 293,422 Year ended 30 June 2025 Unrestricted funds £ 4,000 20,000 41,296 65,296 Year ended 30 June 2025 Unrestricted funds £ 1,150 1,150 |
Year ended 30 June 2025 Restricted funds £ - - 6,460 6,460 Year ended 30 June 2025 Restricted funds £ - - 700 700 Year ended 30 June 2025 Restricted funds £ - - |
Year ended 30 June 2025 Total funds £ 5,405 34,408 263,069 299,882 Year ended 30 June 2025 Total funds £ 4,000 20,000 41,996 65,996 Year ended 30 June 2025 Total funds £ 1,150 1,150 |
Year ended 30 June 2024 Total funds £ 845 44,424 38,375 |
|---|---|---|---|---|
| 83,644 Year ended 30 June 2024 Total funds £ 1,250 24,310 20,000 |
||||
| 45,560 | ||||
| Year ended 30 June 2024 Total funds £ 1,384 |
||||
| 1,384 |
14
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF INCOME AND EXPENDITURE
Analysis of Expenditure
Expenditure on Maintenance/Utilities, Rent and Rates
| Utilities Repairs & Maintenance Rent & Rates Insurance Health & Safety Cleaning & Waste Total |
Year ended 30 June 2025 Unrestricted funds £ 8,821 201 24,000 697 781 10,372 45,872 |
Year ended 30 June 2025 Restricted funds £ - - - - - - - |
Year ended 30 June 2025 Total funds £ 8,821 201 24,000 697 781 10,372 45,872 |
Year ended 30 June 2024 Total funds £ 7,625 680 26,000 672 1,508 10,778 |
|---|---|---|---|---|
| 47,263 |
Expenditure on General Services
| Year ended Year ended 30 June 2025 30 June 2025 Unrestricted funds Restricted funds £ £ Food & Beverage - 7,160 Other 3,021 - Total 3,021 7,160 xpenditure on Management & Administration Year ended Year ended 30 June 2025 30 June 2025 Unrestricted funds Restricted funds £ £ Professional Fees 8,750 - Bank Fees 265 - Other 140 - Total 9,156 - ther expenditure Year ended Year ended 30 June 2025 30 June 2025 Unrestricted funds Restricted funds £ £ Staff Costs 41,309 - Marketing & Advertising 13,500 - Total 54,809 - |
Year ended 30 June 2025 Total funds £ 7,160 3,021 10,181 Year ended 30 June 2025 Total funds £ 8,750 265 140 9,156 Year ended 30 June 2025 Total funds £ 41,309 13,500 54,809 |
Year ended 30 June 2024 Total funds £ 9,731 775 |
|---|---|---|
| 10,506 | ||
| Year ended 30 June 2024 Total funds £ 2,778 249 818 |
||
| 3,845 | ||
| Year ended 30 June 2024 Total funds £ 40,672 17,280 |
||
| 57,952 |
Expenditure on Management & Administration
Other expenditure
15
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF INCOME AND EXPENDITURE 16
Charity Number: 1172967
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CHARITY INFORMATION
| Trustees | Ian David Lloyd (Chair of Board of Trustees) |
|---|---|
| Justin Duncan (Treasurer – appointed 9 April 2025, resigned 28 April | |
| 2026) | |
| Sarah Thake | |
| Greg Wood | |
| Andrew Wigmore | |
| Marion Arnold (appointed 9 April 2025) | |
| Sarah Beisley (resigned 31 August 2025) | |
| Gordon Ross (resigned 15 Jan 2025) | |
| Charity number | 1172967 |
| Registered office | Queens Arms |
| Great Knollys Street | |
| Reading | |
| RG1 7HL | |
| Website | www.newbeginningsreading.org |
| Bankers | Metro Bank Plc |
| Charity Manager | Richard Silcock (resigned 1 December 2025) |
| Rebecca Lawson (appointed 1 April 2026) |
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CONTENTS
| Page | |
|---|---|
| Chair’s report | 1 |
| Independent examiner’s report to the financial statements | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement of assets and liabilities | 6 |
| Fund movement by type | 7 |
| Notes to the financial statements | 8 |
| Detailed statement of financial activities | 13 |
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CHAIR’S REPORT
Objectives and Activities
During the 2024/25 financial year, New Beginnings Reading continued to pursue its charitable purpose of supporting individuals and families experiencing financial hardship, homelessness, and social exclusion. The trustees confirm that all activities undertaken during the year were carried out to further the charity’s aims for the public benefit.
Public Benefit Context
Demand for our services continued to rise throughout the year. The ongoing cost-of-living crisis, combined with a severe shortage of affordable housing and rented accommodation in the local area, has disproportionately affected those who are already financially vulnerable. The trustees have had due regard to the Charity Commission’s guidance on public benefit when planning and delivering services.
Achievements and Performance
In response to increasing need, the charity continued to diversify its income sources. This included the ongoing engagement of a professional grant-writing agency, strengthening collaborations with local businesses, and raising awareness of the support we provide.
These efforts contributed to a significant uplift in income. Donations increased by £216,238, and grant funding rose by £20,446, largely due to a one-off donation of £225,000. The improved financial position, combined with an increase in active volunteers, enabled us to introduce an additional All Day Café session on Mondays, expanding our capacity to provide a safe, warm, and welcoming environment for those in need.
Financial Review
The charity’s main fixed costs remain rent and associated utilities and repairs. Discussions with the landlord regarding premises arrangements are ongoing, supported by pro bono legal assistance.
Overall, the charity’s financial position strengthened during the year, providing greater stability and enabling modest service expansion.
Risk Management
The trustees continue to monitor key risks, including:
-
rising demand for services in a challenging economic environment
-
dependency on a small staff team supported by volunteers
-
uncertainty surrounding premises arrangements
-
the need to maintain sustainable and diversified income streams
Mitigations include strengthened financial oversight, ongoing volunteer recruitment, and proactive engagement with funders and partners.
Plans for Future Periods
In May 2025, the trustees held a strategic planning day to begin shaping the long-term vision and future development of the charity’s services in light of the improved financial position. This work will guide decisions on service expansion, organisational capacity, and how best to meet the evolving needs of the community.
1
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 CHAIR’S REPORT
Acknowledgements
The trustees extend their sincere thanks to our volunteers, donors, partner organisations, and supporters. The services we provide are made possible only through their generosity, commitment, and shared belief in our mission.
Thank you to our supporters!
New Beginnings Reading simply could not run our services without the amazing support of our community. As a small, local charity we are entirely reliant on voluntary donations to ensure we can continue helping those who need us most. We are incredibly grateful to the wonderful volunteers, community groups, local businesses, charitable trusts, supermarkets donating food and the incredibly generous individuals who are vital to keeping our doors open, our fridges full and creating the vibrant and welcoming atmosphere our guests love. We would especially like to thank all of the local businesses, community groups, charitable trusts and foundations who have supported us during the year.
This report was approved by the Board of Trustees and signed on its behalf by:
Ian Lloyd Chair of Trustees 27[th] May 2026
2
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 INDEPENDENT EXAMINER’S REPORT TO THE FINANCIAL STATEMENTS
Report to the Trustees of New Beginnings Reading (Charity Number: 1172967) on the Financial Statements for the year ended 30 June 2025
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under Section 145 of the Charities Act
-
follow the procedures laid down in the general directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act); and
-
State whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
The accounting records were not kept in accordance with section 130 of the Charities Act; or
-
• the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
…………………….
Rachel Eden May 2026
3
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 STATEMENT OF FINANCIAL ACTIVITIES
Income & endowments from: Donations & Legacies Grants Gift Aid Total income & endowments Expenditure on: Maintenance/Utilities Rent & Rates General Services Management & Administration Staff Marketing & Advertising Total expenditure Net income/(expenditure) Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Restricted Restricted fund |
Year ended 30 June 2025 Unrestricted funds £ 293,422 65,296 1,150 359,868 21,872 24,000 3,021 9,156 41,309 13,500 112,858 247,010 247,010 62,350 309,360 309,360 - |
Year ended 30 June 2025 Restricted funds £ 6,460 700 - 7,160 - - 7,160 - - - 7,160 - - - - - - |
Year ended 30 June 2025 Total funds £ 299,882 65,996 1,150 367,028 21,872 24,000 10,181 9,156 41,309 13,500 120,018 247,010 247,010 62,350 309,360 309,360 - |
Year ended 30 June 2024 Total funds £ 83,644 45,550 1,384 |
|---|---|---|---|---|
| 130,578 21,263 26,000 10,506 3,845 40,672 17,280 |
||||
| 119,566 | ||||
| 11,012 | ||||
| 11,012 | ||||
| 51,338 | ||||
| 62,350 62,350 - |
4
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 BALANCE SHEET
| Note Fixed assets Tangible assets Total fixed assets Current assets Cash at bank and in hand Trade and other debtors 6 Total current assets Current liabilities Trade and other creditors 7 Total current liabilities Net current assets less current liabilities Total assets less current liabilities Total assets less liabilities Represented by Unrestricted General fund Restricted Restricted fund Total Funds |
30 June 2025 £ - - 307,816 3,000 310,816 1,456 1,456 309,360 309,360 309,360 309,360 - 309,360 |
30 June 2024 £ - |
|---|---|---|
| - 64,883 3,000 |
||
| 67,883 5,533 |
||
| 5,533 | ||
| 62,350 | ||
| 62,350 | ||
| 62,350 62,350 - |
||
| 62,350 |
The financial statements were approved by the Board of Trustees of New Beginnings Reading (CIO 1172967) on 27[th] May 2026 and signed on its behalf by:
Ian Lloyd
Chair of Trustees
New Beginnings Reading
Charitable Incorporated Organisation (CIO)
Registered Charity Number: 1172967
5
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 STATEMENT OF ASSETS AND LIABILITIES
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 STATEMENT OF ASSETS AND LIABILITIES
| Fixed assets Tangible assets Total fixed assets Current assets Cash at bank and in hand Trade and other debtors Total current assets Current liabilities Trade and other creditors Total current liabilities Net current assets less current liabilities Total assets less current liabilities Total assets less liabilities |
30 June 30 June 30 June 30 June 2025 2025 2025 2025 £ £ £ £ General Funds Designated Funds Restricted Funds Total Funds - - - - - - - - 57,816 260,000 - 307,816 3,000 - - 3,000 60,816 260,000 - 310,816 1,456 - - 1,456 1,456 - - 1,456 59,360 260,000 - 309,360 59,360 260,000 - 309,360 59,360 260,000 - 309,360 |
30 June 2024 £ Total Funds - |
|---|---|---|
| - 64,883 3,000 |
||
| 67,883 5,533 |
||
| 5,533 | ||
| 62,350 | ||
| 62,350 | ||
| 62,350 |
7
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 FUND MOVEMENT BY TYPE
| Restricted Funds Community Fridge Total Restricted Funds Unrestricted funds General Fund Total Unrestricted Funds Total Funds |
Opening as at 1 July 2024 £ - - 62,350 62,350 62,350 |
Incoming during the year £ 7,160 7,160 359,868 359,868 367,028 |
Outgoing during the year £ 7,160 7,160 112,858 112,858 120,018 |
Closing as at 30 June 2025 £ - |
|---|---|---|---|---|
| - 309,360 |
||||
| 309,360 | ||||
| 309,360 |
8
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have been consistently applied within these financial statements.
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
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 principal accounting policies adopted are set out below:
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.
Income
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 the income will be received. Donations and grants are recognised once the charity has been notified of the donation or grant, unless performance conditions require deferral of the amount.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Costs of generating funds are those costs associated with attracting voluntary income.
Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with the governance of the charity and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity costs categories consistent with the use of the resource.
Taxation
The charity is exempt from corporation tax on its charitable activities.
9
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the conditions as set by the donors. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
During the year, the charity received a one-off donation of £225,000 which, while not restricted by the donor, has been designated by the trustees for use towards future renovation and refurbishment works. These funds have been set aside to support planned capital improvements to the charity’s premises and will be applied in line with the trustees’ intentions. As designated funds, the balance may be reallocated by the trustees should circumstances change.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Cash and cash equivalents
Cash and cash equivalents include cash in hand and at bank.
Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
The Trustees have had regard to the public benefit guidance published by Charity Commission.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of its operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using effective interest rate.
2. Employees
The average number of employees during the year ended 30 June 2025 was 2 (year ended 30 June 2024: 2). No employee received emoluments in excess of £60,000.
3. Trustees’ remuneration and expenses
No trustee received any remuneration, other benefits, nor was paid any expenses during the year ended 30 June 2025 (year ended 30 June 2024: £nil).
10
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
4. Independent examiner’s remuneration
| . Independent examiner’s remuneration | ||
|---|---|---|
| Independent examination of the financial statements Total independent examiner’s remuneration |
Year ended 30 June 2025 £ 430 430 |
Year ended 30 June 2024 £ 1,500 |
| 1,500 |
The examiner received no other remuneration, and no other services were provided by her firm.
5. Other income
| Bank interest Total other income . Debtors due within one year Prepayments Total debtors due within one year . Creditors due within one year Taxation and social security Accruals Total creditors due within one year |
Year ended 30 June 2025 £ 483 483 30 June 2025 £ 3,000 3,000 30 June 2025 £ 1,456 - 1,456 |
Year ended 30 June 2024 £ 13 |
|---|---|---|
| 13 | ||
| 30 June 2024 £ 3,000 |
||
| 3,000 | ||
| 30 June 2024 £ 983 4,550 |
||
| 5,533 |
6. Debtors due within one year
7. Creditors due within one year
11
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
8. Leasing arrangements
The charity leases its premises from a commercial landlord. The original 5-year lease expired in December 2023 and the charity was served notice to end this tenancy in September 2024 with a proposed end date of March 2025. The original lease is a protected tenancy under the ‘Landlord and Tennant Act 1954’ and, under this protection, the trustees have been negotiating a new lease with the landlord. At the date of this report negotiations are in final stages and agreement to lease the premises going forward is expected to be signed shortly.
The lease is held for the purpose of supporting the charity’s activities. Lease payments are charged to expenditure on charitable activities on a straight-line basis over the term of the lease. At the year end, the charity had the following future minimum lease commitments under non-cancellable operating leases:
| Less than one year Between one and More than five years Total |
30 June 2025 £ 6,000 - - 6,000 |
30 June 2024 £ 18,000 - - |
|---|---|---|
| 18,000 |
9. Related parties
The only related party transactions during the current and prior year’s were donations from trustees. These totalled £10,150 for the year ended 30 June 2025 (year ended 30 June 2024 £7,364).
10. Analysis of restricted fund movements
| Community fridge Total |
As at 1 July 2024 Income Expenditure Transfers As at 30 June 2025 £ £ £ £ £ - 7,160 (7,160) - - |
|---|---|
| - 7,160 (7,160) - - |
All restricted funds are to assist the charity in respect of the provision of services.
12
NEW BEGINNINGS READING
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 NOTES TO THE FINANCIAL STATEMENTS
11. Comparatives for the Statement of Financial Activities
| Income & endowments from: Donations and legacies Grants Gift Aid Total income & endowments Expenditure on: Maintenance/Utilities Rent & Rates General Services Management & Administration Staff Marketing & Advertising Total expenditure Net income/(expenditure) Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Restricted Restricted fund |
Year ended 30 June 2024 Unrestricted funds £ 77,294 38,800 1,384 117,478 21,263 26,000 775 3,845 29,648 17,280 98,811 18,667 18,667 43,683 62,350 62,350 - |
Year ended 30 June 2024 Restricted funds £ 6,350 6,750 - 13,100 - - 9,731 - 11,024 - 20,755 (7,655) (7,655) 7,655 - - - |
Year ended 30 June 2024 Total funds £ 83,644 45,450 1,384 |
|---|---|---|---|
| 130,578 21,263 26,000 10,506 3,845 40,672 17,280 |
|||
| 119,566 | |||
| 11,012 | |||
| 11,012 | |||
| 51,338 | |||
| 62,350 62,350 - |
13
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF INCOME AND EXPENDITURE
Analysis of Income
Donations and legacies
| Community Groups Corporate Donations Donations & Events Total Grants Reading Borough Council Trusts/Foundation Grants Lottery Grant Total Admin Gift Aid Total |
Year ended 30 June 2025 Unrestricted funds £ 5,405 34,408 253,609 293,422 Year ended 30 June 2025 Unrestricted funds £ 4,000 20,000 41,296 65,296 Year ended 30 June 2025 Unrestricted funds £ 1,150 1,150 |
Year ended 30 June 2025 Restricted funds £ - - 6,460 6,460 Year ended 30 June 2025 Restricted funds £ - - 700 700 Year ended 30 June 2025 Restricted funds £ - - |
Year ended 30 June 2025 Total funds £ 5,405 34,408 263,069 299,882 Year ended 30 June 2025 Total funds £ 4,000 20,000 41,996 65,996 Year ended 30 June 2025 Total funds £ 1,150 1,150 |
Year ended 30 June 2024 Total funds £ 845 44,424 38,375 |
|---|---|---|---|---|
| 83,644 Year ended 30 June 2024 Total funds £ 1,250 24,310 20,000 |
||||
| 45,560 | ||||
| Year ended 30 June 2024 Total funds £ 1,384 |
||||
| 1,384 |
14
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF INCOME AND EXPENDITURE
Analysis of Expenditure
Expenditure on Maintenance/Utilities, Rent and Rates
| Utilities Repairs & Maintenance Rent & Rates Insurance Health & Safety Cleaning & Waste Total |
Year ended 30 June 2025 Unrestricted funds £ 8,821 201 24,000 697 781 10,372 45,872 |
Year ended 30 June 2025 Restricted funds £ - - - - - - - |
Year ended 30 June 2025 Total funds £ 8,821 201 24,000 697 781 10,372 45,872 |
Year ended 30 June 2024 Total funds £ 7,625 680 26,000 672 1,508 10,778 |
|---|---|---|---|---|
| 47,263 |
Expenditure on General Services
| Year ended Year ended 30 June 2025 30 June 2025 Unrestricted funds Restricted funds £ £ Food & Beverage - 7,160 Other 3,021 - Total 3,021 7,160 xpenditure on Management & Administration Year ended Year ended 30 June 2025 30 June 2025 Unrestricted funds Restricted funds £ £ Professional Fees 8,750 - Bank Fees 265 - Other 140 - Total 9,156 - ther expenditure Year ended Year ended 30 June 2025 30 June 2025 Unrestricted funds Restricted funds £ £ Staff Costs 41,309 - Marketing & Advertising 13,500 - Total 54,809 - |
Year ended 30 June 2025 Total funds £ 7,160 3,021 10,181 Year ended 30 June 2025 Total funds £ 8,750 265 140 9,156 Year ended 30 June 2025 Total funds £ 41,309 13,500 54,809 |
Year ended 30 June 2024 Total funds £ 9,731 775 |
|---|---|---|
| 10,506 | ||
| Year ended 30 June 2024 Total funds £ 2,778 249 818 |
||
| 3,845 | ||
| Year ended 30 June 2024 Total funds £ 40,672 17,280 |
||
| 57,952 |
Expenditure on Management & Administration
Other expenditure
15
NEW BEGINNINGS READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF INCOME AND EXPENDITURE 16
Independent examiner's report on the accounts
Report to the trustees New Beginnings Reading On accounts for the year 30[th] June 2025 Charity no 1172967 ended Set out on page 1
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2025.
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
| Signed: Name: Relevant professional qualification: Address: |
28thMay 2026 | |
|---|---|---|
| Rachel Eden | ||
| Fellow of the Chartered Institute of Management Accountants | ||
| Holy Brook Associates Ltd, Thames Tower, Station Rd, Reading RG1 1LX |
1