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2024-03-31-accounts

Charity number: 1177984

CHANCE CHANGING LIVES

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

CHANCE CHANGING LIVES

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 11
Independent examiner's report 12 - 13
Statement of financial activities 14
Balance sheet 15
Notes to the financial statements 16 - 28

CHANCE CHANGING LIVES

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Darren Evans, Volunteer Development Julie Kay, Service Delivery at Community Hub Sandra Link, Chair Michael Roberts, Premises and Asset Management (resigned 11 July 2023) Richard Stakes, Treasurer Lou Vasey, PR and Marketing Charity registered number 1177984 Principal office Community Pantry 11-13 Coronation Crescent Crewe Cheshire CW1 4EJ Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Page 1

CHANCE CHANGING LIVES

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024.

CHANCE Changing Lives was registered as a charity on 17 April 2018 (charity number 1177984) and the first Board was formed. Over the last six years the Board of Trustees has evolved and responded to the growing demands on the charity and continues to meet once per month. Throughout this financial year, the board of trustees is as described on page.1.

In April 2022, in recognition of the growth of the charity, both in terms of the volume of service users and in the range of services that we were able to offer, the Board of Trustees considered making its second paid appointment. On 1 July 2022 the Trustees were delighted to appoint Jenny McKeown as its Administrative Officer and the second paid employee of the charity, and a much-welcomed additional resource.

For the first three years, the charity has operated entirely with volunteers, but due to the growth of the charity and the increased numbers and diverse needs of service users, in April 2021, the first paid employee was appointed. The Board of Trustees is suitably proud of its current workforce which comprises 3 part time paid employees, all of whom do a remarkable job in developing and managing the growing demands placed upon them.

It is beyond doubt that the increased demands have been severely impacted by the cost-of-living crisis with the charity supporting over 300 people each week, many of whom have found themselves in new and desperate circumstances, no longer able to afford food and basic household essentials. Amongst our numbers each week, a growing proportion of people are in work and unable to balance food and household costs, like rent and mortgages. The members of staff, together with our team of volunteers have responded with dignity and respect to the growing needs of our service users.

Objectives and activities

a. Policies and objectives

The work of the charity is shaped by the Vision, Mission and Values. These are reviewed annually to ensure fitness for purpose and following a change to the mission statement in March 2024, these are as follows:

Our Vision is: That everyone has a safe place to call home, with food to eat and an opportunity for their voice to be heard.

Our Mission is: To reduce hunger and provide hope, promote dignity and social inclusion and create opportunities to transform lives.

Our values are that:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

b. Strategies for achieving objectives

Strategic goals 2023 - 2024

Table.1. Objectives set for 2023-24 together with performance achieved

Page 3

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

a. Operational achievements of the Charity

Saturday Kitchen

Chance continues to provide practical support to homeless and/or disadvantaged people in Crewe and Nantwich each Saturday through the ‘Saturday Kitchen’ where a nutritious two course meal is shared, alongside a wide range of activities and services. In addition to activities and practical support, the charity organises a range of goods and services to improve the health, social, capacity and financial position of our guests:

Beneficiaries

The number of guests at the Saturday Kitchen can range from 35 - 50 people per week. Many have complex needs, some are street homeless, sofa surfing, have insecure tenancies, others are lonely and struggle with day-to-day living. Table.3 sets out the range and level of activities delivered and provides a comparison with the same period of the previous year:

Table.2. Saturday Kitchen Activities

The Community Pantry

The Community Pantry was opened in October 2018 from our registered premises at 11-13 Coronation Crescent Crewe, premises kindly leased to us by The Guinness Partnership. Families and individuals are referred from agencies including Citizens’ Advice, Cheshire East Family Centres, Health Visitors, foodbanks, probation service, schools and GPs. Membership is prioritised for people experiencing severe financial difficulties, struggling to heat their homes and eat, finding themselves in debt. In addition to the provision of food and essential household items, members receive debt and benefit mentoring, and direct, speedy referrals to counselling services. During the school holidays, we made individual packed lunches for the children of our members to ensure that no one went hungry.

Page 4

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

Membership

Members register for 13 weeks to manage budgets and/or debts and select food each week at vastly reduced costs. The service enables members to shop with dignity whilst accessing services to assist their financial and social recovery. If members engage with our service and still require support, a further 13-week programme can be agreed followed by reassessment. If members no longer need our service, or have decided not to attend, membership is ended, enabling additional members to join.

Table 3 describes the numbers of people who have benefitted from the service and provides a comparison with the previous year.

Table 3: Activity at the Community Pantry

Supporting Children out of Poverty

CHANCE has supported the 153 children of our members with packed lunches throughout school holidays and at Christmas. With the support of a toy charity, the younger children were given wrapped Christmas gifts, advent calendars and selection boxes. Easter eggs were distributed to all. Our free fresh fruit and vegetable offer supports improved health and wellbeing. When donations allow, we share free toothpaste and toothbrushes, books and educational toys.

Page 5

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

b. Sources of Support and Income

Key Funders

The support of our key funders has been essential to the continuation of our service and the introduction of additional activities. During this year we have enjoyed financial support as set out in Table.4. which describes how funding has been spent:

Table 4: Funding Providers

Additional Funding & Practical Support

Additional funding and other practical support has been generously provided by local businesses, churches, schools and trade union branches as follows:

Page 6

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

Table 5: Additional Sources of Funding

Page 7

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

Individual Givers

The charity continues to enjoy an active following of individual sponsors who donate generously via PayPal, Facebook or directly into our bank account. We remain incredibly grateful for their essential support; it is a fact that the local residents of South Cheshire have given to us generously throughout the last six years. Genuine and sincere thanks are extended to the support of these individuals who enable the work to continue, especially during the huge cost of living crisis that has impacted everyone and has placed an unprecedented demand on our services.

c. Volunteers

The impact of Chance Changing Lives is hugely dependent on the recruitment and commitment of our talented and loyal pool of forty-nine volunteers who are supported by the trustees. The enthusiasm, determination and diverse skills of our volunteers are critical to the ongoing success and growth of the charity. During this, our sixth year, we have seen Chance diversify, adding additional services e.g. cookery club, free, fresh fruit and vegetables, referrals for fuel vouchers, food vouchers and free slow cookers. We have introduced a budget coaching service to assist our service users to manage their income and expenses in a balanced way, where this is possible. During the last twelve months we have referred 50 families to Pennysmart for specialist financial advice and a further 48 of our families have left the service as their circumstances have significantly improved and they no longer needed us. We continue to value our volunteers and invest time, effort and resources in their development, to enable them to feel confident in their roles and to continue to contribute to the success of the charity and the wider community.

Financial review

a. Financial review

The level of income and expenditure during this financial year has resulted in net income of £91,209 (2023: £65,664). The total funds at year end stood at £348,121 (2023: £256,912) of which £31,901 was restricted (2023: £35,708).

b. Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure, which has increased in the 2024 year to £65,000 (2023: £55,600) due to the charity employing more staff. This is held within a separate designated 'Restructuring' fund but is included within the free reserves figure below. The trustees consider that, reserves at this level will ensure that in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Free reserves are made up of the unrestricted funds, less any designated funds not set aside for the purpose of free reserves and any unrestricted fixed assets. This represents the available funds that can be accessed at short notice if required. The free reserves level at the year end were £92,625 (2023: £61,369). Trustees feel that this level is appropriate to ensure continuity of service in view of variable receipts, funding levels and the uncertain times that we are operating in.

Page 8

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

c. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Structure, governance and management

a. Constitution

CHANCE Changing Lives is a charitable incorporated organisation (CIO) and governed by a written constitution. Board meetings take place once per month and a full set of notes record all discussions and decisions made. The constitution has been approved by the Charity Commission and utilises the Commission’s model foundation CIO governing document.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.

In appointing trustees, the constitution states that:

Retirement/Removal of Trustees

When considering the retirement or removal of trustees, the constitution requires that a trustee ceases to hold office if he or she:

Additional Terms

It is possible to serve more than one term as a trustee. The constitution makes the following provisions:

None of the trustees has any beneficial interest in the charity.

Page 9

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

Each member of the board has a dedicated role and is responsible for an area of expertise, thus ensuring that each board trustee has the opportunity to make a valuable and essential contribution to the activities of the charity. The trustees have developed a rolling three-year strategic plan and focus upon the delivery of the strategic objectives.

d. Policies adopted for the induction and training of Trustees

The charity had a dedicated a ‘Selection and Recruitment Policy’. Where the board agrees there is a vacancy a job description and person specification are developed for the role to fill any skills gaps as deemed necessary. The available role is advertised externally and internally to current volunteers. Applicants are shortlisted, interviewed and where appropriate, two references are sought. On receipt of satisfactory references, appropriate level of DBS check is completed. The satisfactory candidate is appointed and registered with the charity commission. This is followed with an induction programme; ID is issued, and appropriate IT training and support is provided.

Plans for future periods

The Board of trustees recently completed a skills gap analysis and following the results of that exercise it was agreed that the recruitment of additional trustee(s) should be commenced. It was concluded that the additional skill sets to be recruited would focus on communication, fundraising and marketing. It is hoped that additional trustee(s) can be appointed during 2024-25.

Page 10

CHANCE CHANGING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Sandra Link (Chair of Trustees)

Date:

Page 11

CHANCE CHANGING LIVES

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

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

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Page 12

CHANCE CHANGING LIVES

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

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

  3. the accounts do 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: SJ Tweedie

31 October 2024 Dated: BSc FCA DChA

WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Page 13

CHANCE CHANGING LIVES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
115,467
-
-
115,467
991
118,283
119,274
(3,807)
35,708
(3,807)
31,901		 Unrestricted
funds
2024
£
77,231
20,803
7,177
105,211
279
9,916
10,195
95,016
221,204
95,016
316,220		 Total
funds
2024
£
192,698
20,803
7,177
220,678
1,270
128,199
129,469
91,209
256,912
91,209
348,121		 As restated
Total
funds
2023
£
165,762
18,163
1,631
185,556
1,101
118,791
119,892
65,664
191,248
65,664
256,912

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

The notes on pages 16 to 28 form part of these financial statements.

Page 14

CHANCE CHANGING LIVES

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 1,309
270,593
271,902
(4,026)		 2024
£
17,810
62,435
80,245
267,876
348,121
348,121
31,901
316,220
348,121		 -
237,254
237,254
(2,427)		 2023
£
22,085
-
22,085
234,827
256,912
256,912
35,708
221,204
256,912

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

................................................ Sandra Link (Chair of Trustees) Date:

The notes on pages 16 to 28 form part of these financial statements.

Page 15

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

CHANCE Changing Lives is a registered charity (number 1177984) and the first Board was formed in April 2018. The charity is based in Crewe, Cheshire and their mission is to reduce homelessness, social exclusion, promote dignity and enable people to grow and realise their potential.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

CHANCE Changing Lives meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants, including government grants, are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 16

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Long-term leasehold - 10% straight line
improvements
Motor vehicles - 25% reducing balance
Fixtures and fittings - 33% straight line
Computer equipment - 33% straight line

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 17

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income is allocated to the appropriate fund.

Page 18

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from donations and legacies

Government grants
Cheshire NHS
Crewe Town Coucil
Government grants total
Donations
Other Grants
Subtotal
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
18,525
-
4,439
-
22,964
-
-
76,176
92,503
1,055
92,503
77,231
115,467
77,231
106,747
59,015		 Total
funds
2024
£
18,525
4,439
22,964
76,176
93,558
169,734
192,698
165,762		 Total
funds
2023
£
35,604
3,300
38,904
56,039
70,819
126,858
165,762
  1. Income from charitable activities
Unrestricted
funds
2024
£
Income from provision of Pantry for service users
20,803
Total 2023 as restated
18,163		 Total
funds
2024
£
20,803
18,163		 As restated
Total
funds
2023
£
18,163

The income from provision of the Pantry to service users was treated as a trading activity in the prior year. This has been reclassified to ncome from charitable activities.

Page 19

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Investment income

Unrestricted
funds
2024
£
Interest receivable
7,177
Total 2023
1,631		 Total
funds
2024
£
7,177
1,631		 Total
funds
2023
£
1,631

6. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activites
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
118,283
9,916
89,796
28,995		 Total
2024
£
128,199
118,791		 Total
2023
£
118,791

7. Analysis of expenditure by activities

Charitable activites
Total 2023		 Activities
undertaken
directly
2024
£
120,349
112,978		 Support
costs
2024
£
7,850
5,813		 Total
funds
2024
£
128,199
118,791		 Total
funds
2023
£
118,791

Page 20

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Food and household items
Rent
Water
Light and heat
Insurance
Phone
Repairs and renewals
Motor expenses
Volunteer expenses
Service user costs
Service providers
Total 2023
Analysis of support costs
Bank charges
Print, post and stationery
Sundry expenses
Independent examination costs
Other professional fees
Total 2023		 Charitable
activites
2024
£
43,449
6,222
26,137
5,519
600
8,156
304
639
107
2,181
6,140
20,845
50
120,349
112,978
Charitable
activites
2024
£
640
1,617
1,783
2,490
1,320
7,850
5,813		 Total
funds
2024
£
43,449
6,222
26,137
5,519
600
8,156
304
639
107
2,181
6,140
20,845
50
120,349
112,978
Total
funds
2024
£
640
1,617
1,783
2,490
1,320
7,850
5,813		 Total
funds
2023
£
33,856
5,948
20,617
2,422
530
5,929
304
509
-
2,812
1,913
5,068
33,070
112,978
Total
funds
2023
£
638
2,131
1,604
1,440
-
5,813

Page 21

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

8. Independent examiner's remuneration

Independent examiner's remuneration
2024 2023
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 1,890 1,444

9. Staff costs

Wages and salaries
Contribution to defined contribution pension schemes		 2024
£
42,638
811
43,449		 2023
£
33,186
670
33,856

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 2 1

No employee received remuneration amounting to more than £60,000 in either year.

Total remuneration for the highest paid employee amounted to £20,156 including gross wages and employer pension contributions (2023: £27,108).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 22

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Long-term
leasehold
improvemen
ts
£
17,445
-
17,445
3,488
1,744
5,232
12,213
13,957		 Motor
vehicles
£
8,000
-
8,000
3,500
1,125
4,625
3,375
4,500		 Fixtures and
fittings
£
16,427
-
16,427
12,905
2,598
15,503
924
3,522		 Computer
equipment
£
319
1,947
2,266
213
755
968
1,298
106		 Total
£
42,191
1,947
44,138
20,106
6,222
26,328
17,810
22,085

12. Fixed asset investments

Cost or valuation
Additions
At 31 March 2024
Net book value
At 31 March 2024		 Listed
investments
£
62,435
62,435
62,435

Page 23

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

13. Debtors

Due within one year
Prepayments and accrued income
Creditors: Amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
1,309
1,309
2024
£
1,990
146
1,890
4,026		 2023
£
-
-
2023
£
1,076
151
1,200
2,427

14. Creditors: Amounts falling due within one year

Page 24

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds

Statement of funds - current year

Statement of funds - current year
Balance at 1
April 2023
£
Unrestricted funds
Designated funds
Restructuring
55,600
Property fund
125,000
Cyclical Maintenance fund
5,250
Dissolution
7,500
193,350
General funds
General Funds
27,854
Total Unrestricted funds
221,204
Restricted funds
General Core Costs including
salaries
229
General Core Costs excluding
salaries
7,425
Pantry (Core costs)
-
Food (Both svcs)
15,392
Kitchen only core and food
4,495
Service User items
1,367
Mental health
6,597
Volunteer costs
203
Other restricted grants
-
National Lottery 3 year fund
RC North West Region -
Salaries and Training
-
National Lottery Cost of Living
fund
-
35,708		 Income
£
Expenditure
£
-
-
-
-
-
-
-
-
-
-
105,211
(10,195)
105,211
(10,195)
-
(229)
4,500
(8,767)
1,500
(1,500)
11,733
(16,903)
4,000
(8,269)
1,439
(2,205)
18,525
(25,122)
-
(203)
4,780
(4,780)
46,659
(28,965)
22,331
(22,331)
115,467
(119,274)		 Transfers
in/out
£
9,400
-
1,100
4,500
15,000
(15,000)
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2024
£
65,000
125,000
6,350
12,000
208,350
107,870
316,220
-
3,158
-
10,222
226
601
-
-
-
17,694
-
31,901

Page 25

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds (continued)

Total of funds

Designated funds comprise of:

Restructuring: This fund is to be used to cover essential trading/activities whilst sourcing income to a maximum of six months budgeted trading activity and will include staff salaries.

Dissolutions fund: provides for the cost of dissolution should the charity be unable to continue. It should only be used in the event of the Trustees’ deciding the charity should cease to exist. It will be used to pay notice periods, redundancies.

Cyclical maintenance: fund to be used for major items of maintenance of the fabric of the buildings such as redecorating the interior and exterior

Property fund: funds set aside towards the cost of a new property when identified.

Restricted funds:

The restricted funds have come from a variety of different sources and generous supporters. They are split into funds according to the purpose for which they were given, as shown in the table above.

The Core costs restricted funds are composed of a variety of seperate grants received to fund various aspects of core costs.

Page 26

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Restructuring
Property fund
Cyclical Maintenance fund
Dissolution
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
General Core Costs including
salaries
General Core Costs excluding
salaries
Pantry (Core costs)
Food (Both svcs)
Kitchen only core and food
Service User items
Mental health
Volunteer costs
Health & Wellbeing
Total of funds		 Balance at
1 April 2022
£
55,750
85,000
-
-
140,750
28,639
169,389
4,500
-
1,098
-
-
4,052
-
-
12,209
21,859
191,248		 Income
£
-
-
-
-
-
78,809
78,809
20,000
11,395
6,110
23,580
5,000
3,658
35,604
1,400
-
106,747
185,556		 Expenditure
£
-
-
-
-
-
(30,096)
(30,096)
(19,772)
(3,970)
(7,289)
(8,188)
(505)
(6,390)
(29,007)
(1,197)
(13,478)
(89,796)
(119,892)		 Transfers
in/out
£
(150)
40,000
5,250
7,500
52,600
(49,498)
3,102
(4,499)
-
81
-
-
47
-
-
1,269
(3,102)
-		 Balance at
31 March
2023
£
55,600
125,000
5,250
7,500
193,350
27,854
221,204
229
7,425
-
15,392
4,495
1,367
6,597
203
-
35,708
256,912

Page 27

CHANCE CHANGING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
17,810
-
62,435
31,901
240,001
-
(4,026)
31,901
316,220		 Total
funds
2024
£
17,810
62,435
271,902
(4,026)
348,121

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
-
35,708
-
35,708		 Unrestricted
funds
2023
£
22,085
201,546
(2,427)
221,204		 Total
funds
2023
£
22,085
237,254
(2,427)
256,912

17. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £811 (2023 - £670) An amount of £146 was payable to the fund at the balance sheet date and is included in creditors (2023: £151).

18. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.

Page 28