Charity wtstral•on nuMr 1176547 {Englond ond Wal•sl Company wlstration number 11115960 SMART WORKS NEWCASTLE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 •AEH4EldEA• 10JIW2025 COMPANIES HIJJSE A13
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SMART WORKS NEWCASTLE CONTENTS Pao• Trustees. resJt Independent ex8rThnerfs reFQrt Slalement of finan(aal acwt*s Bajance sheei 10 Note5 to the ffinancaal statemts 11-20
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also the diredors of Ihe drity for the purrKJses ol the Compan$ Act. wesent Iheir annual report together the a¢ccwJnts of Smart W¢yks Newcasue in year ended 31 2025. The accounls have been prepared in acctyd8nce rylh a(xxwntiwwJ kM)liiaes set out on pages 12 to 13 and comply ith the charilvs govemir¥J iJctumen( applicable laws and lh8 requirernenls of Slatement of Recommended Practs'ce 'ACco)n9 and Rewrbng by Charities. issued 2019. Obj•cti¥es and actlvltles Smart Work5 NeWcaSe p¥owdes t)Ih career coaching and intemew eohirvJ, as well as high quality inierview dothes and styliThJ advtce to unempbyed rnen. We give WOM the confi¢Jence. seffknli?f and prad11 logls they require to succeed ai H)terwiew and start a new chapter of th"¥ l¢le. The tharitys objectives are the rdiei of finanaal hardship and the relief of urempbyment for the Wb1 benefit through the promotion of economic independence arnong vrt>rnen in the North East. To deliver this. Smart wo$ NeWCaSe vrds incorporated on 18 Drnber 2017 and Wiste as a charty on 5 January 2018 wth a clear mission and vision to hdp Irrf) fflen back irto Ihe m)rka by giving them the doth¢s and the confidence thèy need to succeed al job intemew. Smart Works Newcaslle is ol a netth of regional centres Ihat deliver the Smart Works Charity service in their area. At Ihe ce of otjr service is a Interview Dre55ing and Preparalion 8pin1[ent. (kjring which èach woman receives a complete ouffit of high-quality dothing aThJ accessories Itheits to keep) and tailored one-to-one inteNew o)aching. This deceplivety simple. sh¢yl inteThenlion has a significant impact as our clenls 51art beheving in Ihw'r tr•m ability to S[Ceed. Once they get the job, offer client5 3 Second or955w for more dothing, to wowde a worknng wardrcbe to see them thrwgh to th&rfirst pay thque. In addib.on to Ihe core SeThe. unemF4oyed wmen have not yet seCUd a job inlerview. we deliver career cx)aching sessions to offer 5UPPNt and skills lo gain inteTriews. This rnay be arrym¢J CV preparation, job applicatic dlor sectorlroles Ihat match their 5ki11s. Thi5 aSFCt of our service h35 seen high growlh in recent years as the job market has become more difficutt. As part of Ihe Smart Wryks Group. wr slrategr lo¢xJs B to ddiver wr CO dfessing and inlerview coaching service to the best possible standard armss Ihe UK and to take Il to MC k)cation5 $0 that any woman vthts nee¢Js support can access Smart Wcrts. In the lace of the cost-of-living ui&s. the value of secunng a job has never been syealer. Our support is needed than ever. This year CoMeted ovr three-yew plan, which set a target of reachiThJ 10.OCqJ women per year eokcbvety across all centres. as a5 enhanciThJ other aspeets ol tyjr sawiee elivery. Key impact data for Ihe group is as follows.. 10.600 women suppjrted in 2024125 ak>ne 12 eAntr¢s ddivering 5eNces across the UK 67% of dients secLKe a job within one [lth oftheir app(Mntrnenl . 94% repcfft increased nfidere after engaging ith Smart wo$ . 57% of r CEn1$ artr fr(xn an b*gYourKI 16% of wr clients hove 8 disatilty . 49% of our chents are pwerts 59% of cwjr ¢lienls a age 2&29 Our key performance irKlieator5 8re Ihe Fwmtrer of women that aThJ the proporbon Of thosè women who secwe emFAoyment aller theirvisit to a Smart W(xks ¢¢rth.
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and perf¢• Highllghts Smart Works Newcastle is inuedit4y woud ol what has been ach¥ed in its sevenih ytar. ove1, this year, Smart Work5 Newrasue has: . Hel 734 unique br1.8[1eS cm theirioumey to empknwL delNwed 953 lotal appryntments. Delivered 507 Interview Dring & Preparalion appOintmts lo unempwl women secured job inieMew&. Delwered 263 CaeT coathing apw>wthen15 to UrMPkIYed lo help thtrm make tangible st8P5 iowards securing an inteNew. Been graielul lor Ihe supwjrt of 42 vtslunt¢eFs n d•ltvering the seThtt. $uFyyting across dothing, coaching. and outreach. . Continued to see suc. 68% of Ihe V•rynen we before a lob tniwview 5ecumg employwt vthhin a monlh of their vigt conb.nued to reach women vtho lace 5ignfficant barriers to Securing 8mpknyment. Smart Works New¢8slle clients are mosyy ILYo-tenn unemrAoyed and have expenenced repeated le¢bOn5 from Multle10bs.' 46% have been JeCted from over 20 24% have been rejected from over 50 pbs 42% have been unempkjyed for over a year . 25% have been unemployed fc ¢)ver 5 yews The MaltY a from communities faang rThjIb"p barws lo gaining emptynent.. 25% are k)ne parents 19% hawe a disability 40% are from an ethn fflinority . WLYked vlith 93 unique referral w¢ie5 lo fflaintsin the bwdlh of coveTrJe acxoss the Noth East, clienls from 8erwck lo mKldles)r0U9h. . Hosted several successful events. irKbJirwJ rwr amual ev¢nt ¢¢bebraimg Internal1 Women's Day. focusing a ffle dose lo our purpose- Smart Confidence. Recrurted a Trustee. wilh a IuS on younger dwts aged 16-25 in the conbnved drNe to broaden and deepen the skills and experience cl the Board. We also recrurted Shadow Trustees, tth under 25 to enhance Ihis ot4'ective. Successlully delivered wtreath aclMD"es' induding hostiThJ and paruopatitwJ in jobs fails, increased the engagernenl with ¥eferral partner5. hosled vdunleenng and th experi activitse5. Grew our collabor8trve partrw5hips ccwporate partner5. retsir$ and clher u9anis8tkin$ io diive fundraising, dient erraIs. and raise the file of Smart WLYks Newcastbe. . Continue lo be proud and weciate the ttffltinued our AmbasslNs inthding Sara Davies MBE and Becky Langy. Moved into a new pr¢)perty in May 2024. and while we wll need to move again in 2025, this has allowed u5 the opportunity to irreaSe Ihe par* and slandard ol propprty to accomrnodale anbcipated fvture grov+th 4thile maintainin9 hi9h quality $ern. Smart Works N¢a5ye is incredibty proud of the performance in the year. wlh con5i5tenty positive feedback ceiwed to remind us ol our impact Our final year of the Three-year Aan Saw steady and successful service d81ivery. rèiaining a strorrfj Posrfion lo ndUde yew lh of ourThree-Yew Plan.
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fln•elal f•vlew Results for the y¢ar Total income for the Pen was £298,88812024.' £205.8891, rnade up g$tan"allY grants awarded. corporale donaticns. and funéraising 8ctyvlt. Total expenditure 0$ £263.226 12024.. £188.4771 resulting in net income of £35,66212024". £17,412). To support Ihe delivery of the Three-year Plan. in 2023 the Board aFvoved to desKJnate £68.2k from unresfricted lunds, of which the final balance of £23.2k wa5 alktsted to th¢ year endirvJ 31 March 2025. In 2025, the Board approved to degnate an additi1 £55k to support an"Cipad futu costs associated wilh the necessary rakjcation of yemises. As a r8suK ol Ihis, wè ènd the ffinan(#al year with the de9ndled reserves of £55k and freè reserves of £122.6k. This is wthin reserve polcy SiWL¥b"r#J 6 months of expeThJiture. There 1$ 8 4S% Incre in Mrall inctyn& th"¢h i1¢$ unre51ricted in¢xMTE of £213k and wtn"ct¢d In¢omè ol £85.8k. Granls and donab'ons Pfowde 60%12024.. 54%) of tyjr tolal income and fundraising events and fashion sales raised 31% 12024.. 36°) of our income. We hu9ety appwiale the supp)rt of many indivtduals. companie5. and grant ovhlèrs ihrouyhoul ye#r. Income also ineludes donated dresng stock of £26.7k 12024.. £19.2kl %thich help5 conts.nue to support the high- qualily ch)thing wr service. Amongst a backdrop of Ihe rising popularity ol second-hand marketplaces. we have increased to 20 donalion sta.5 IhroLyhrA Ihe regi h))k fryward to ccffitinuing to develop retail partnerships. INCOME ANALYSIS •2Q25 ll 2DZ4 GRANTS • OONATIONS FUNVRA15111G EVEWT5 CIOTHIIIG DofiATIONS Totsi exFendiiure for Ihe period was £263.22612024". t188.4771 which 15 a 40% intxease from last yeaf. Our costs a mainly for staff. premises and direct dient seThe costs togeth make up 77% of our overall costs. The increase in costs was expected and relaled mainly to costs assooaled wlh a thange in premises. Expenditure costs related to premises is expected to increase again in Ihe next year due lo wr upcornjng confimieé relocats"on. as wr curyenl premises is being demolithd. We also expect an itrease in expenditure assooated with slaff and related costs. to sUStn w delivery.
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 EXPENDITURE ANALYSIS 2025 •X174 STAFF 5UPPO8T PIEMISES FiIIIOf¢AISING OTHER DIRECT COSTS Investrn¢nt Pollcy The Tru51e95. having regard to the liquirfity requirements d yrating the Charity and to the reserves wlicy. have operated a policy keepng available funds in intèrest-bearing deF¥JSit acc4)unts. Re1¥•$ Pollcy The Trustees have (x)nsidered Ihe requ1ment for free reserves, i.e. those tricted funds not desMJTrateLI for specific purpose or othemise comrrotted. It has been determined thai, given the natu of Ihe thanty's woth, ihè level of free reserves should b? equivalent kn 3 to 6 months ol annual expenditure. Th6 provides sufficient flexibility to cover any lernporary shortlall in InCce and will allow Ihe charty lo cope and Spond irnmediately to a reasonable range of unforeseen adverse CIrMStanCeS rrrior to spei MedIa1 plans being implemented. The free reserves of £122,617 meets Ihis requirement. Struclvre, 90ManCe and manigennt Govemanee Smart Works Newcasue and its Trustees are bold by the MemorandLwn and Arb"des of Association. The names of the Twsiees who sefftd during the peritsj are set in Legal Admini51rative 1nfmb.on wtK)n. Smart Work5 Charity is the se4e memter of Smart wo$ Newcastle. Smart Works Newcaslle has been granied a linSe to operate by Smart wo$ Charty. and rt has the same objeth.ves aThJ milar actswI$ as the parent company. Recrultment and Appointm•nt of new Trustees Regular reviews are undertaken to assess the skills of the rrent Twslees and idenirfy any areas for strengihenin9. New Twste¢s ar¢ aFpointed by Ihe exBting Srnart Works NastIe Board and thwr appointment is aprrfoved by the Smart wo$ Charity 80¥d. Inductlon and Training of new Tmst•es New Trustees are provided wth an 1nducb' lo lamilwse themsefves %%ith the charity and the not-for profil sector. They are briefed on thew responsibilibes by Iht existiThJ Trustees. New Trustees we also erd to the Charity CoMmissK,5 guide The Essential Trustee.. Smart Works Chanty shares a Trustee Welcorne PaGk with all Smart Works Trustees when they join the charty, setting wt rdes. reSPs1.be5 and Ihe structure of Smart Works both locly and nalkinally. Tse re5fAJrr£s a avaiLthk w)der Ihe dedicated Trustee section of our internal portsl for tools and resources along wth other useful guKles and vJeos. Tlustees afso undertake Iraining as part of their rde. includlng on Equity Diversty and Indusi(M).
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Oryanfjgational Slruclwe and t)e¢ision4•king The Trustees revEw and approve 1 pol1¢. and lollryw a straiegy set in the t)ugness pkqn. in Irne %%ith the wthr Strategy set by Smart Works Chanty. The Twstees meet at least quarterly through(¥Jt Ihe year and wll have an annual session to update and revise Ihe strategy. Managemeht The day-to4ay management of Smart W(xks Newcasle is undertaken by the Hea(1 of Centre and overseen by the Chair and Board of Twstees. Re50urce5. inlra5twcture and supp(xt ar¢ wovided by Smart W0S Charity on finance. pe¢)ple. paitrerthps, OFrnts"ons and coftrnnication5. Pay Policy low Key Managernent Per%>nnl l Trustees give their time fredy and no Trustee received remuneratr.( in the y. The pay of staff is revivwed annually. The TrusteÈs benchrnark pay against pay leveLs in other rnI1arty szed charits.es and other Smart WL¥ks centres. Rlsk Management The Trus¢ees regularfy review the majry risks to whth the charity is exposed, in particular te retating to governance. operations. ffinance, HR. ccmpliance and extemal It5. The centre mamitairts a risk register thot reviewe¢J by the 8oard of Trustees bags. Relatlonships wlth Rel•ted Parlies Smart Works Charity is the sole rnember of Smart Works NecasUe Policies Policies for all relevant areas are maintained by Smart Wcks Charity. incklding SafegU8rdirvJ vulTab Adults. Safeg¢Jaiding Chilijien. Anti4ribery and Fraud. Anti-Hards5rnent & Bu1"9, Compassionate Leave, Complaints, Confflict cl Interesl, Data PTOtecbon, OiwrAinary. Environmentsl. Equality, FleXie Wcrting. Grpvance, Health & Safety. Lone Working, hAatemty. Pattsmrty. Parental Leavè, Pn"vaty. RjundanCY, Risk Management. Shared Parental Leave. Sickness Abser&ce & Capats'hty. Travd & Expenses an(1 WlhLebk1lng. A Staff Handbook is made available"tO staff and indudes a summary ofzll these Fdic. Volunteers The Tnjstees are graleful for Ihe in¥aluatAe contntsjlion of Ihose vtho give their time volLtntarily to deliver across roles in dr¢s5ing. coathing, wardrobe managernent and adrninisfrati. We have ¢)ver 40 active vol¢Jnte¢rs wilh a very high retention rate and an ongfAng recrurtment process to boLster numbers as we conb'nue to grow. <T voILsnteers a one of our greatest assets". they are totally dedicated and K4ay an enormous rde in delivering our dressing and coaching servic. Public 8enefft The Twstees have read and corn led vAth the guidance umtained in the Charity Ccffimi55ion's general guidance on public benefits wn len9 ojr aims and Ljectives and in pLqnning our futL¢re actiwties. Our achievements above dernonstrate how we have tvffillecl this req(mrnent durirrfJ the year. In preparing Ihis report. the Trustees have laken advantage of Ihe small cornpanies. exempbon5 w0ved by sedKffh 415Aol the COMpare$A 2006.
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Future Plans Delivering our Three Yoar Plan by 2025 (th the 1st April 2022. Smart Wc¥ks Newcastle began the firnl year of an ambib.ous The Year Pkn as part of the Smart Works Group in response to a 5b3nifiwt increase in need lor servKe provided in wr area. This plan is now coMete. and exlenswe consultation has supwrted the development of the new three-yew pkn, which will be launched in 2025. building the sur£ess of wr wnractful mrthl. The cost-of4iwny crisis has h1 8 devastsbr¥J impad on the rnen we serve. and the eXparts1¢ of ¢wr service has never been mce uryJent. The Job mathet is V•rYsening for Ihe )Men we seNe, vkno are applying ILY an average ol 38 rol¢s without sucG8s$. The new str8te9i¢ plan is the folknMng fve anth1$.. Stratsgic Priority aspire to ensure erfery woman co1 from Smart Works can acc our e aim to be natbjnalty recLyJnised as Ihe lea(li for lo e ieccJnise that need ifferent kb'nd5 of uppjrt at drffewt FM)ints in their w(MkT"rrfJ INes. e ouf voice to influence kXJt4"c iscour5e arKI pK)Iy arourNJ worwi's F(K every Wom. at any Rwse Our oi Strengthen Our Foundats'ons e 11 lId the infrastrudure. culture. and JiThJ nKMJel needed for sustainable gr¢ywth, rounded in equilable aryj conlinujS To achieve these aims in (Njr wea, Smart W0S Newcasue wl: Rebrand and e¥ofve as Smart Wowks North East, rellecb'rg the d•mc#Jrlc5 of our clients and th• growing demand for Jr seNce. Fully transfer Servi lo be delivered from a new office space, maintaining capaoty and qlIty of service to maintain a high Ve1 of both appcinlments and successfvl outcomes. Continue to build and develop referral partner relationth'ps. with specific fccus on urKlerserved regions and demo9raphic5. provwjing appnIrnents to these in Jr NeWUe ntre whie maintaining the use cl virtual ijelivery ser¥Trce5. Expand our corporate seryice offering to seDJre new corporate partnetships while maintaining exisling ntiOnS to provKle the necessary fvnds io assist Ihis grh thrwgh finanaal year. Leverage knowledge and eyperce Imm our B(yard ol Twslees and ln1eers, reuuiiirKJ in line wth our skills assessmenL Listen, leam and grow trcln the insKts from dient. nIte¥S suppcytws. includir¥J our new male ally . Rewew our seryice lor dients aged 16- 25, kveraging Ihe inSh1 from Ouf Shaflow TTUStees. Focus on local partnershps and lundraigng. lo conthnue to false awareness of the seNce, drive growth in the number ofwomen reachwj. lIe rain9 rnuch needed lunds to rA)ntinue Ihe high qsJality serwce. Mainlain outwne and impad rneasures so we w deaty d(Stra1e Impad d our swvice.
SMART WORKS NEWCASTLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Equity. Oiversity & Inclu510n In June 2023, Srnart Wcrfks Launched a new groupth Equty, & Indusion strategy. The strategy set-out framework for how all Srnart W¢xks centres will nurWre a Cultu of divwsty and inclugvty. (knr the last year, Smart Works has delivered imp)rtant I11¥eS to sxeJress this This indudes training for Staff. trustee5 and volunteers. demogrnphic data colleclw across ryjr internal community, aThJ the launch of a Client Champion programm8 where former dients become amb355adors for the tharity. We want Smart Works to be a F4ace Whe everyone feels accepted, valued an(J able to thrive - %thether they are stsff. volunteer5. truslees, partner5, 5upporler5. or our dients. Srnart Wryks Newcasu? i¥ Committ to nplementsng this strategy localty and cwbThJ a mNe inclusNe and 8qUrtable future every member ol the Smart Works community. The Trustees. p(rt vrns apwo¥e(l ty the Boar(l ofTwstees. Sophie Milliken Trustee Lisa Bell 17 November 2025
SMART WORKS NEWCASTLE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SMART WORKS NEWCASTLE I repyt to (he Tnjstees on my exaTrwnaibJn tht finxnual ststements of Smart Works Ne%4rasle {Ihe Charity) f Ihe year ended 31 March 2025. Responsibilities and bas1$ of report As Ihe Trustees of the Charity land also rts direLtor5 for Ihe wrposes of company lawl. you a responsible for the preparatitin of Ihe financkql slaltments in accorthc£ the requirements of the cnnIesA¢t 21x16. Hawn9 sab'sfied myself Ihat the finanual statennts of the Charity we not requireLI lo be audited under Part 16 of lh8 Companies Act 2006 and are eligit4e for independent examinab"on, I reFtht in respect of my examinab.on of the Charty's financkAI staternent5 carried wt under SectTr 145 of the Charities Act 2011. In carrying out my examination I have I(0d the Direct¥M given by Ihe Chanty CMISsi under settion 1495Mbl of the Charits'es Act 2011. IMependen1 examlnerfs statement sin the Charitys gross income exce(Jed £21.000, the independent examiner musl be 8 member ol a body lisled in secb.on 145 of the Charitses Act 2011. 1 cfjnffirm thai i am qualifd lo undertake the exarrinatw)n b$cgu$e I arn a rnefflr of ICAEW, whith is one of the listed b(KJie5. I hav8 Mpleted my exarninatim. I wif1 that no matters have cc¥ne to my attention in oneCtiOn with the examinalion giving me cause lo bdieve that in any material respeci.. acctsjnting recCS wer• not kepl in resFect ol the Clwity as required by 5eclk)n 386 01 the Companies Art 2006. Ihe financial statements do not accord Vlth those records: or Ihe financial stalements do not comply wilh the accounty.ng ults of seth.on 396 of Ihe CoMpanS Acl 2006 olher Ihan any requirement that the financial slatWTW give a true and fair View. ¥thich is not a matter conside¢j as parl of an independent ex3rninat." or Ihe financial statements have not been Kryjared in aCcoance vlilh the metl)ods and principles of the Statement of Recommended Pr1r£ for accounliThJ and repofbng by charitses apF4irAble to ch8rilie$ preparing their finanual statements in accc¥dance vnth the Fsnancial ReF¥xt"ng Standard applicabk the UK R¢puUic of Ireland IFRS 102). I have no concems and have corne across no olher matter5 in connection the examination to which attents'on Should be dra in thi5 report in ordu lo enable a woper underslanding of Ihe finBrMxal Slatemts to be reached. Gary Pready F Gravlta Audit Oxford LLP First Floor, Path Central 4041 Park End Str Oxford OX1 1JD Date.. 28111r2025
SMART WORKS NEWCASTLE STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AIARCH 2025 Unrtstrfjeted Restrieted lunds funds 2025 2025 Tolal Unrestrlcted Restrl¢led funds lunds 2024 2024 Totsl 2025 2024 Income from: Donatsons and legaae5 Other liading activilies 1ZO,419 85.819 206.238 92,6• 9S,627 74.504 35.758 131.385 74.504 Totsl In¢omg 213.C69 85.819 298.888 170,131 35.758 205.889 Expendlture on: Raising fijnds Charitable activitie5 21.385 169.886 9,943 178,534 70.971 240,857 145,819 32,715 Total •xp•ndltwe 191271 71.955 263,226 1SS.762 32.715 188,4TT Net Ineom• 21.798 13.864 35.662 14.369 3.043 17,412 Transfer5 belween lunds 4.479 (4.4791 Net movemenl In luftds 26.277 35,662 14.369 17,412 Roconciliation of fvnds.. Fund balance5 * 1 Aprd 2024 151,340 18.363 169,703 136,971 75.320 152,291 Fund balances at 31 Marth 2025 177.617 27.748 205.365 151,340 18.363 169,703 The slatement olfinanual adwilies indudes all gains losses rec(*3nised in the year. A4 irOn and expenditu derive from eontinuing actNities.
SMART WORKS NEWCASTLE BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Fixed assets T3ngible assets 11 7.$82 Current assets Stocks Debtors Cash al bank and in hand 12 13 24.395 25.581 161,S24 18.363 13.850 142,759 211,5 174.972 Credltors: amounts falling due wlthin one year 14 (13.717) {5,269} Net curr•nl ass•ts 197,783 169,703 Totsl assets Itss Currtnt Ilabllllles 205.365 169,703 The funds ol tht Charity Restricted incoffle fvnds Unrestricted lund$- general Unrestricted Yund5- Designed furKJs 1fj 17 27.748 122.617 55,CQQ 18,363 128,140 23.200 205,365 169.703 The cornpany is entilled to the exernption from the audit wreent rnlne{l in Secti 477 of the Cornpanies Act 2006. for the year ended 31 March 2025. The d1ctorS acknovAedge their resFthsFbthbe5 for cwlyi'ng with th• requiremerts d the Cornpan Act 2006 ith respecl to accountirrtJ rec4Yds and Ihe teparation of financial ststements. The rnembers have nol required the ccmpany lo cknlain an authi of ils finanoal slateMts for the year in question i accordance wlh seclion 476. These finalal staternents have bèen Prep in accudancè Ihe W110n5 aFF4icable to companitt subject to the small companies iegime. The financial statertS were apwo¥ed by the Trustees 17 NobYnbeT 2025 Sophie Milliken Trust•• Lisa Bell Twstee Company registratth number 11115960 (England aThJ Wales) 10-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charity inlomiation Smart Work5 Newcastle is ? thartsbk c¥mp8ny limited by gLrarant¢e incrypor8ted in England and Wal8S. The registered office is 3rd Fhxr. Hadiian HSe. Hryham Pkce. NE18AF. 1.1 AoUnting convenbon The financial state1rntS have been wepared in arrdanr wilh the Charivs govemin9 documenL th¥ Companies Ad 2006. FRS 102 Tr Finaroal Rewb"ng Standavij aplble in the UK anij Reptstlic ol Iland. I'FRS 102.1 and the Charits SORP 'Accovnbng and Reporting by Charitie5.' Stalernent of RecommendJ Practice applicablè to charities prèparing Ihtir acctyjnts in accordance witt) the Financial Reporting Standard apiCable in the UK and RepU1C of Ireland IFRS 1021" (effective 1 January 20191. The Charity is a Pubfic Benefil Entity as defined by FRS 102. The Charity has taken athwtage ol Ihe pls1C¥ in the SORP for thties to wepare a Ststement of Cash Flows. The finanrAal ststements are prepared in sterling, which is Ihe lunctional rrencY of the Charity. mOr13ry amounts in these finanoal ststements a r¢JJntJed to the neast £. The finanaal statements have been pwjared Lmder Ihe hi5kncal c05t convention certain fmanL?al irotruments atfr vakje. The prin acrnunbng Wioes adcpted are set wt beh)w. 1.2 Going conc•rn At the time ol approving Lhe financi¥ statements. the Twstees have a reasrnable expectation Ihat the Charity has adequate resources to ¢tsne in operational existenr£ lor the foreseeab future. Thus Ihe Trustees contiThJe to adopt the wng concem basis ol attountiThJ in wepariThJ the finantial statements. 1.3 Charltabk funds Unrestricted lunds are availat4e f( use at the diSti( Trustees in furtherance d thwr tharilable oty"ectives. Rtstriettd funds ar¢ subjeci to Specific conditK)ns by dtsn LV grantors as to Iw)w they may be used. The purposes and uses ol the $tricted funt1s a sel out in the notes to the finanoal statemenls. 1.4 Income Income is reCOlSed the Chwty is lty enb.lled to it after any pwfoIm8r condilions have been m¢L th$ amounts can be measured rebabty. il 1$ prrtsbk that ingTh 11 b& f1Ve. Casl) donations are recognised on yept. Olher donab.ons are reL))gnised efite the Chaity has been notffied ol the dCMatsc. unless FerfOrMan contji(S require ¢JefwTal of the amwnt. Income tax reCOverae in relats'on to donations Te1ve under GIftd or deeds 9fven3n1 1$ recL¥nised at the tim¢ of lh8 donation. Donated s lor thessng clients is Tectynised Mi the finantsal statsments whe41 the g¢Jds are reeeived by the Charity aThJ their value can be ffleasud *iih rea$ble accuracy. The value placed on these resources is their value to Ihe Charity. The trustees ¢onsider it iftyractical to Measu the value ol vdunleer help and cOnsequeny, as permitted by the SORP. Iheir value is not recwised in the finanaa statements but Is desuibed in the truslees. anrwjal rewi. 11
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 Ae¢ounting policies (Continued) 1.5 Expendllyre Expenditure is OgnISed or there is a l&Jal or Construc obligat¥)n to transfer economi¢ benefit to third paity. It Is probawe Ihat a transler of ectsrK)mie benefits wll be required in settlement. and the arnount of thé cOligati can te measLThJ reliat4y. Expenditure is ¢las%fied by actimty. The costs of each a¢tsMty are made up of the total of diwt costs ané sho costs, induding SUPPOrt costs invofv8d in un¢1ertakn"ng eath aclivity. fhred costs attn"butable to a sin9le activity are alkncated directly to that actiwty. Shared costs vthith c(ffitribute to more Ihan one activity and support costs which are not attribuiat4e a singlé aclmty are aFf•Jlthed beeen those activth.es on a basis consistenl with the use of srCeS. 1.6 Tangible fix•d •$8els Tangibk fix8d assets are initially rrasured * cost and $thequ8nly mgasured ai cost LV valuation, net of depreciats'ijn and any impairment losses. Depreri8tion is wognised so a5 to Vrfe off the CO or valuati¢m of assets les5 Iheir reshlual values over th useful lives C Ihe loHowng bases". Leasehold improvements Straight Line The gain cf loss ari&ng on Ihe disposal of an asset is deiennined as the dffterence befv4een the sale pred$ and the carying value of the assel. and is reGro3nised in Ihe statemenl of financbal activilie5. 1.7 Impairment of fixed assets Al each p¢lIng end date, the Charity wews the carrying arrthnts ol ils tsngible assets to delemiine ether there is any ir¥Ji¢thon that th0 assets have suffered an impairnent loss. If any such indicth.on exists. the reCOverae arnotjnt of the asset is esb"mated in order to deterniine Ihe extent ol the irnpainnent loss lil any). 1.8 Stocks The cost of t1onated dSn9 stttk fty distn"bJts"on lo tenefioaries is valued at fair value. %vhich has been estimated by the trustees. 1.9 Cash and cash •quivaleb)ts Cash and cash equivalents IV¢ cash in IBnd. der)sits held at call wth banks, othw short.lerrn IKiuié investments wilh 9ri9inal matUtS d Ilwee mwlhs or less. and ovwdfafts. Bar ovwdralts are 5hcthT) %itts"n borrowings in current l1akn.lrt$. 1.10 Employee bBnefft5 The cosi of any unused holiday enthment is r¢cggnised in the pe111 in ¥thith the employee's services are re1Ved. Termination benefts are reccsnised Imndiatety as an expense then the charity is demonstrably Cornmed to terminate the empbymènt ol an empbyee or to providg lermination benefits. 1.11 Relirement benerrts PayrTren15 to d¢fined contribu"0n retirement benefit sthmes ar¢ thar9ed a$ an exPSe a5 they fall due. 12-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting 111¢8 and jwlgements In the application of the Charilys accounb.ng Fdiue5, the Trustees are required to rnake iu(Jgements, Èslimates and assumptions about the Ggryirg amwnt of assets and liakn.1.8s that ale rnt adItY apparont Irorn olher 50urces. Th? estirnates aswated as5umpb.ons a base{1 on historical experience and other lacto that ar• considered lo be r•l8vant. Adual results may drffer Irom these esbmates. The estimates and ndl"ng assumpbons are reviVd on an goIng basis. Revrsions to accounting estimates a re¢cgnised in the perk)d in whith Ihe estimate is rew5ed where the Trv151L affeds only that perKd. or in Ihe peric#J of the re¥i5ion and lulure peri(ts 7Athere the revisth affects both ojrrent arbd future penods. There are no esb"males that the trustees cJ)ns#r fc* Ihe accounts. Incorne frorn donations and legaci85 Total Unrnstrict•d R•strfeted funds funds 2024 2024 Total funds 2025 lunds 2025 2025 2024 Drated G¢)ods and Services Grants and in¢JvKlual donations 26.732 26,732 19.243 19,243 120,419 Sg.087 179.506 95.627 16.515 112,142 120.419 85.819 206.238 95,627 35,758 131,385 In¢ome from other trading activities Unrestricted Unregtrlthd funds funds 2025 2024 Sale5 Fundraising events Spinlstep Up for Smart Wc¥ks Cyck for Smart W¢yks 22.826 63.313 6.511 17.010 48.225 9,269 Other trading aclivibes 2,650 74,504 13-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 hlARCH 2025 Expenditure on ralslng lunds UN•s¢rithd R•stricted fund$ funds 202S 2025 T•)lal Urnestricted Restricted fvnd$ funds 2024 2024 Total 2025 2024 and blic Slaging fuThJraising events Other lundraising costs ,3& 1,030 21.339 1.030 6.735 6.735 3,208 21,385 22.369 9,943 9.943 Expendltwe on charitable athltles Charitable acti¥ities Charltable ¢ti¥ities 2024 2025 Direct costs Stsff costs Prernises relaled direct expendikne Other direct expendilu Administrative direct exrenthlu 122.039 47.839 107.455 16,859 139 16.2C¥) 20.7CI) I.578 140.653 ShaTe of support and govem•nce (see note 7) Support Governance 49.457 822 36.897 240,857 178.534 Anatysis by fund Un1¢¢ed funds- general Restricted funds 169,886 70,971 145.819 32.715 240,857 178.534 14_
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support $ts allocated to activitses 2025 2024 Staff rx15ts Prernises related support cosfs Adrninistrative expendrtu 25,485 8,289 15.683 24,097 4.629 8.171 J,279 37,681 Anatys•d between: Chantale actyvibes 50,279 37,881 Govemance eosts indudes paents to Ihe Th1ependent exami[S of £700 + VAT 12024.. £6501 for independent exarninatit fees. The fee for the a£Vts preparatKJn of £1,750 * VAT {2024: £1.6rx) + VATI due to Ihe sndependent exanwners is being pawl for by the parent drity. of the Tnjslees lor any persons cOnj them) rec¥ any remuneration w benefils from the Charity during Ihe year12024.. £nill. Ernployeeg The average monthty numtr of emrAoyees during Ihe yearwa5.' 2025 Numbv 2024 Pmb•r Ernployment 2025 2024 W8ges and salaries Social securrty costs Olher pension costs 131.697 12,112 3.71S 121.722 6,352 3.478 147.524 131,S52 There were rKJ ernployees ¥hwe annual rernuneraiKn w*s riiore than £60,0. 15-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees (ContinuBdl Remuneration of key management p•rsonntl The remuneration of k•y magement pe1xne1 w3s as folows". 2025 2024 Aggregate compensati¢)n 45,953 39.597 Under the ierrns of the Ch8fibe5 SORP. the trus1885 and the Centre Manager are rewgnised a8 key managemen¢ personnel. The aggregale ernployee beneftts Isnduding emplDyei PiDn and National Insuranee eontribuons1 received by the key mana9ernent pefsrmnel are Sh atrx)ve. 10 Taxation Th? charity 15 exempt from tsxaticn ils acbvI$ because all its Is appled for tharitsbse purposes. 11 Tangible ffixed assets Leasehold Cost Additri 9,478 At 31 March 2025 9.478 DeprK1•on and Impalnmnt Depreciation in thé year 1,896 Al 31 March 2025 1,896 Carrylng arnount At 31 March 2025 7.582 12 Stocks 2025 2024 Dressing stk 24.395 18.363 13 Debto 2025 2024 Amounts lalling duè within one year: Oonations receiv31 and other debtrx5 Prepayments and acCnd income 12.138 13,443 3,100 10,750 25.581 13,850 16-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Credrtots: amoubts falling due TOthln one year 2025 2024 Trd¢le ueditors Wages and pensions trol xcoun Accrua15 and deferred income 850 4.163 8.704 226 3,275 1,768 13.717 5.269 15 Retlrement benèfft schemes 2025 2024 Dafined contiibulion 5chemBs Charge lo proffit or b)s$ in wEsped of defird ¢xmlrlwliw xh¢mes 3.715 3,478 The Charity operates a defined contritrAtrtion pen&on 5dme ftr all qualrfwThJ ernpbyees. The assets of the schem? 8r8 hdd separatety from Ihrtse ol Ihe Charity in an bndependenty adrnini5t8rd fund. 16 Restricted funds The restricled fvnds of the tharity corywse the unexpended baL3nces of donatiws and grants held on trust 5j.eCt lo spetsfie ¢oThj.0rts by dvnry5 as lo how Ihty may be used. At 1 April 2024 Incoming Resources resouices expended Transfer5 At 31 March 2025 Dresng stodt Career coaching (Natirnal Lottery) Career coathirb318ank of Am&ical Nowca5tl• c¢yJnul Sir Jarnes Knott Wellbank Mea TrUSVNaC Citylife grant BWP workwear 18.363 26,732 120.7001 24.395 {6.4801 8,595 20,ts)0 10,C {8.5951 I20.0) {10.[0) (3.0531 17001 17801 I1.1) {4.4791 3.353 18.363 85.819 171.9551 14.479) 27.748 17_
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Restricted fvnds Icryrtimiedl Prevl)us ar. Al 1 April 2023 In¢omin9 Resource5 r•sour¢•5 •xp•nd•d Transfers At 31 Alareh 2024 DressirvJ stock Career Coathing IBank of America) Career Coach'ng (Natial Lott) 15.320 19.243 116.2001 18.363 7.875 17.8751 18.6401 15.320 35.758 132.7151 18.363 The dressing stock rewesents donatirS received the 5pafic rAWW58S of providing benefiriaries wilh Clothing for inter¥ithv. The Bank of Arnerica fv1. and National Lollery filnd. wefe colecled via Smart W¢yks Chanty and are grants towards essential resources. The Newca511e Council grant was reslrided to be paid towards rent aThJ wa5 fvly utilised in the year. Sir J¥mes K11 is a rAye 9ranl to paid towards ary. Wellbank was 8 grant lo he¥) fit cAJt the new ctre and wa5 fulty ublised in Ihe year. Mea TnJ$UNaoT$ was a grant to pay lowarfs trdnswt fc Ihe 2024 miseS move was fully utilised in the year. BWP Workwear was a grant towards wardrobe items and a balanc of £3.353 remained al year end lo be carried f(Thafd to the new financ1 Yr. 18-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 D19n¥ fund$ Th8 unrestricted funds of the charity comprise the un¢xFnded balarS of donations and grants which are not subject to speufic u)nditi$ by donrM5 and grantors as to how they may be used. These indude designated lund5 have been wl aside ¢xrt of unrestrhae(I funds by the tnJstee5 for specffic purrA)ses. 1 April 2023 1 Aprfl 2024 31 IA•r¢h 202$ Designated Funds for 3 ytar r4an to 5UPPOrt more W¢en acr055 Nevr3sle Designated Funds for moving expense5 and outreath recruitment CL1$ 120.C(JOI 23.2rAJ 123.2001 55,CQQ 55,OC¥J 120.1)001 23,2LM) 31,800 55.orxj Durin9 Ih? year Ihe Charity rnpleted Ihe ihird year of its 3 year plw lo support rrK)re wcrfnen wos5 Newcaslje and has transferred some ofthe t1esig)ated lund5 had been a%de to SUF¢)Ort some of the associated additsonal expenditure. The Charity also alkncated a lurlher £55.0(X) to desynate(1 fisfK15 durng Ihe yew to suFpJrt mowng a"On5 and to help fund the recruilment ¢05ts of a new outreach assistant. 18 Anatysis of net assets belween funds Unre5ti•ct8d Designated Restricted funds hbn funds genernl 2025 Total 2025 2025 2025 Al 31 Meh 2025.. Tangible assets CLtrrènt assetsllliabilibesl 7,582 197,783 115.0& 27.748 122.617 27.748 205.365 Unr•stiiet•d D•slgnat•d Restricted funds general 2024 Total 2024 2024 2024 At 31 M¥eh 2024: Current a5setsllliabiliti¢51 128.140 23.200 18.363 169,703 128.140 23.200 18.363 169,703 19-
SMART WORKS NEWCASTLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Members, Llablllty Thè company is limited by guartee. The mwnb¢r of ts wmpany undertake5 lo contribute to Ihe assets of the company. in the event ol the sarre being Ourl up while Ihey arè a member. crf wtthin one year after they cease to be a rnber. for payTnent of Ihe debts and liabilities of the company contracted before they ceased to be a member. and of the costs. charges and expenses of winding up SUL amount as may be required Mt exceeding £1. At the bai8nce sht dale there was e ffember. Smarl Works Charity. 20 Operating 1ga8e corrMnltm•nts Lèssee At the reporting end date, the Charity had outslanding CrMItMents for future mirmuM lease payments under non•cancdlable OFeratmg leases. lch fal due as folky*s". 2025 2024 Within one year Between two and five yw5 24.0 16,140 20.175 24.000 36,315 Operating l¢a5e paynwls in £36.07412024: £17.3931. 21 Rolated party tr5010¥ Dum9 the year the tharity received dationS of £47.17512024.. £31.515) and ¢051 TwmlSernen1S of £nil 12024.. £1,8001 from &nart Vl(¥ks Chwity, ts immedwte parent vthich are included within for the year. The charity receiv donati$ of £495 12024.. £5711 frryTr seven Trustees {2024.' seven Trustees) and expense reimbursements of £285 {2024.. £637) to one Tnjstee. 22 Control The parent of the largest group in which these financ41 statements are o)rtsolidaled is Smart W¢yks Charrty (Company Njmber 03870671 and Chanty Number 10806091 who is Ihe SLle member ol Ihis charity and can exercise contrc4. Smart Works Chanty has the same prinopal athity as this charity. The address for &nart Works Chwity is: ih)it 1. Canonlwry Yard 202-208 Nvw North Road, Ilington, London, Eroland, N1 7BJ.
SMART WORKS NEWCASTLE LEGAL AND ADMINISTRATIVE INFORMATION Tru$tws Helena Clenndl Susan Fult Carol Mwe(lith So[le Milliken Lisa Be Julie CuthberlsL Lisa Graveling Nicda Hands Maxine Fox Sardh Lamb Lauren Croft (Resigned 5April 20241 (Resigned 10 May 20251 (Apwnted 5 Augvst 20241 (Apwnted 12 July 2024 and Resigned 16 May 20251 charlty nuMr (Enyland and Walès) 1176547 CoMpY number 11115 Reg•stered office 3rd Fk Hadrian Hse H¢gham Pla¢¢ NE1 8AF Independent examlner Authl Oxfryd LLP First Floor. Park Central 4Lk41 Pwk ETh1 Strettt Oxford OX1 1JO