**Charity Registration Number: 1178926** 

## **Angel Trust - A Charity For The People Financial Statements** 

## **For the year ending 30 June 2024** 

## **JANE ASCROFT ACCOUNTANCY LIMITED** 

Chartered accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP 



## **Angel Trust - A Charity For The People** 

## **Financial Statements** 

**Year ended 30 June 2024** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**9**|
|Statement of financial activities|**10**|
|Statement of financial position|**11**|
|Notes to the financial statements|**12**|
|**The following pages do not form part of the financial statements**||
|Detailed statement of financial activities|**25**|





## **Angel Trust - A Charity For The People** 

## **Trustees' Annual Report** 

## **Year ended 30 June 2024** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2024. 

## **Chair's report** 

As chair of trustees, I have prepared this statement as part of the annual report for July 2023-June 2024. This year saw us celebrate our 5th birthday, a 5th year which saw us expand into new territories and to support more and more of our local community in various ways. 

2023-2024 has seen the start of some exciting changes and diversifying projects for Angel Trust, building the foundations that will be launched throughout 2024-2025. 

2024-2025 sees the launch of our Angel Trust Night Hub,as well as the opening of our Angel Trust Emporium Charity Shop. Towards the latter part of 2024 we accomplished the foundation work for our Beehive Coffee Shop 

I am extremely proud and honoured as chair of trustees of how we continue to adapt and respond to the changing support required by our local community in County Durham and Darlington. Whilst remaining loyal to our core values and policies we have had our first full financial year operating our food bank and community pantry, providing a welcoming environment for shoppers but also a hub of navigation to the other services we offer, as well as external parties that we are working in close collaboration with. For the first time, we have run school holiday clubs through the Durham County Council Fun and Food provision, providing school holiday activities for local young children. 

We continue to fundraise via our popular events such as Ladies Day and Tess on Tour, which has allowed us to continue to support local families with memorable experiences and the granting of wishes. A number of these families and other members of the local community were invited to a special tailored Christmas party and Weardale Christmas train ride. 

Through collaborations and the relationships we have built with both local authorities, services and school provisions we have continued to provide support to vulnerable children and families with initiatives that include school uniform, as well as our hugely successful toy appeal and more ad hoc requests. We operate by the motto "You never know when you may need a helping hand" and our social media presence highlights just some of the work and projects we have got involved with and successfully delivered 

We have been supported via fundraising through our events, donations from the local community, awards of grants and corporate donations which have made all of our work possible and we are extremely grateful for this support. 

I would like to place on record my thanks to the board of trustees, the CEO, the staff and the volunteers, for their resilience, loyalty and creativity and look forward to sharing the launch of our new projects in 2024-2025. 

Beryl Anderson Chairman for the Board of Trustees 

**1** 



## **Angel Trust - A Charity For The People** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **Objectives and activities** 

Angel Trust was formed as a local charity for the people of Darlington and County Durham. We aim to support individuals and organisations in the community by providing financial support and services to those in need. We want to improve the local community and make life better for those living within it. 

The objectives of the CIO are: 

(a) To relieve the needs of the community in Darlington and County Durham by providing grants to individuals and/or charities or other organisations in such ways as the trustees see fit to enable; (i) The advancement of citizenship and community development (ii) The relief of financial hardship and;(iii) Other such charitable purposes as the trustees shall determine. 

Established in April 2018 the Angel Trust was formed as a local charity and has rapidly become recognised as "The People's Charity". Operating throughout Darlington and all of County Durham, the boundaries defined within the Gaunless Gateway are firmly embedded within the aims and objectives of The Angel Trust. 

The Trust operates under the stringent guidance of a registered board of trustees and a Senior Fundraiser /CEO. Within the skill set of the board there is a diverse representation of assets and professional impetus covering legal procedures, press, publicity and media marketing, health and safety management, building and structural planning, entertainment and choreography, business management, hotel and function property availability as well as financial accounting procedures. 

The Angel Trust's ambition is to support individuals and organisations in the local community by providing financial support and services to those in need and are undergoing hardship. Our aim is to improve the local community and make life better for those living within it. The Angel Trust operates under a specified legal constitution within its governing document and is registered with the Charity Commission. 

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)'. 

Angel Trust fundraises in the community using various methods; we host fundraising events, distribute collecting cans to local business and we have individual fundraisers which altogether enables us to achieve our objectives. 

## **Activities undertaken to achieve objectives** 

There is a strong fundraising structure that appeals to our contrastive database of supporters, designed and marketed to attract their taste and appetite for leisure and entertainment. Angel Trust has established a reputation for a strong charitable standing in our community by providing much needed help and funds to individuals, organisations, schools and clubs across both The County of Durham and The Borough of Darlington. The Trust staff and volunteers have worked hard to spread the ethos "We may all need a helping hand at some point in our lives and the Angel Trust aims to be there to provide support where it is needed." As a result of this we now receive referrals from Macmillan, Social Workers, School Workers, Refuges and many more. We are quickly becoming the charity that people turn to. 

**2** 



Christmas
2023-2024 +An8e£fuot
Christmas is a magical time at the Angel
Trust hub, with multiple deliveries an hour
and our busy elves operating around the
clock to make sure there is smiles on the
faces of hundreds of local children and
families come Christmas morning.
A massive thank you to everyone who
donated toys to our Toy Appeal, we received
thousands of gifts from individuals and
corporate donors. These gifts allowed us to
support children and families referred to us
via social services, schools and children's
homes, as well as support the local children's
wards at hospital.
'.11
As part of the referral applications, we
identified specific gifts children would like
and issued these via gift tags to donors. This
allowed our team of staff and volunteers to
pick personalised bags of gifts which were
delivered across County Durham and
Darlington by trustees and ambassadors.
We also ran a special trip on the We8rd8le
Christmas train for local families, this
included a special guestl Some of these
families were also special guests at our
Christmas Party which was held at Hardwick
Hall.
••,
Not forgetting others in local community, we
also delivered Christmas afternoon teas to
nominated individuals.
••
.èJ
Please follow our Facebook page for
information on any events and nominations!
APPEAL

PANTRY &
FOOD BANK
2023-2024
2023-2024 saw the first full year of our food
bank and community pantry. We have
welcomed thousands of people through the
door via referrals for our food bank provision
or shoppers for our community Pantry. The
farm shop environment has been widely
welcomed by all involved.
TL",ESD,KI'S
ILal i)Lal 4
ONLY E2.50
Our community pantry allows shoppers to pay
£5 for a shop including fresh fruit and
vegetables, cupboard staples and refrigerated
goods. We also offer weekly meal deals for a
family of 4 at a low cost, as well as freshly
baked products.
PANT
Through this service we have also been able to
offer mobile phone credits, as well as support
with gas and electricity. We have referred our
service users to other pathways such as
citizens advice, homegroup and counselling
provisions. The uptake on these services has
led us to further expand our inhouse offerings
to support those in need. Watch out for an
update on this in 2024-2025.
We would like to thank the local supermarkets,
individual and corporate donors for their
ongoing donations of food and supplies.
fuot

OUR YEAR
2023-2024
Wimbl¢don Packs
We supported local care
homes with Wimbledon
packs, allowing them to
come together and enjoy
the Tennis.
WIAAY Wonka
We held a brilliant party
for local children themed
around Willy Wonka.
There were some
amazing costumes and
the entertainment team
provided a brilliant
af ternoon f or all involved.
Fun and Food
This year we collaborated
with Durham County
Council and local sports
provider Robert Proud to
offer Fun and Food Holiday
sessions to local primary
school children.
Thank youll
Letters to Heaven
Following a request we were
proud to fund a letters to heaven
postbox at the Bishop Auckland
Town Cemetery. Bringing comfort
to those who have lost loved
ones.
Clothing Collections
2023-2024 was our first full year of
collecting collections. Our service
collects from homes and clothes are
used for our Angel Trust Emporium shop
which launched in 2024-2025. but are
also used to clothe the homeless and to
provide any specific requests from local
schools.

Wish Granting
2023-2024
NGEL OF
rHE MONTFI
Granting wishes is still at the heart of our charity.
With trustees and staff visiting families,
hospitals, schools, clubs and groups on a regular
basis surprising them with gifts, holidays and
much more. Some of these applications are for
children and families going a difficult time with
illness and deserve a special trip. Others are for
housing equipment such as washing machines,
flooring and beds.
If>MEONe
pPECIAL
MARY WAS OUR ANGEL OF THE MON
JUNE FOR TREATING EVERYONE WII
UTMOST RespECT, ALWAYS GOING J
AND BEYOND, AND BEING At4 AMA
FRIEN
The board of Trustees review applications and
award funds to make these wishes happen. It is
always lovely paying personal visits and meeting
special people.
This year we met Lottie who was knocked over
outside her home. Her accident shocked the
local community and she was nominated for a
special surprise. We visited Lottie with a pamper
hamper, a pamper party and wished her well in
her recovery.
We also met Luke, Luke loves the Harlem
Globetrotters, so Luke (one of our trustees) and
our CEO Clair surprised him with a trip to
Newcastle Arena, a stay in Newcastle and a
special chauffeured journey.
Angel of the Month
We also have"Angel of the Month" where members
of the public can nominate an individual who has
gone above and beyond in the community.
They will receive a surprise doorstep delivery.
ye£l

## **Angel Trust - A Charity For The People** 

## **Trustees' Annual Report** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **Financial review** 

The charity generated income of £454,315 (2023 - £369,183) during its sixth year and incurred expenditure of £407,348 (2023 - £360,859). 

## **Reserves policy** 

Trustees aim to hold six months running costs as free reserves. The charity's unrestricted reserves currently stand at £149,361 (2023 - £102,394), representing around eight months routine expenditure, and the trustees are satisfied with this position. 

## **Structure, governance and management** 

## **Constitution** 

The charity was incorporated as a Charitable Incorporated Organisation (registered charity number 1178926) on 26 June 2018. 

## **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 Trust deed. Induction is provided for new trustees as required. 

## **Organisational structure and decision-making policies** 

At the end of the year Angel Trust has a Board of 7 trustees comprised from various professional backgrounds. Appointments to the Board are made by the trustees, once elected, Trustees are given a copy of the Charities Commission Handbook and full verbal explanatory briefing from our charities solicitor on the expectations of being a trustee. 

The charity also has a CEO who oversees the overall running of the charity including the charities Marketing and Fundraising Assistant. The trustees delegate day to day operations to the Chief Executive. 

Angel Trust have a number of Ambassadors; Tess Tickle & The Dragettes, Mark Dunn, John Adamson, Gucci Gabore, Paul Simpson and Natalie Phillips who play a key role in promoting the charity to the local community and through the press. In addition to this we have a fantastic team of volunteers, without them we wouldn't be able to do the work we do. 

## **Pay policy for key management personnel** 

The salary and benefits of the Chief Executive are set by the board of trustees, and reviewed annually. 

## **Related party relationships** 

The charity has benefited from the support of the services of trustees in a number of ways. 

Mark Boyes, one of our trustees, also provides professional entertainment services at discounted rates to some of our events, which further benefits the charity through his on-line presence on social media. 

Kathryn Stabler, another trustee, provides training and HR support. 

## **Financial risk management** 

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. 

**7** 



## **Angel Trust - A Charity For The People** 

**Trustees' Annual Report** _**(continued)**_ 

## **Year ended 30 June 2024** 

**Reference and administrative details** 

|**Registered charity name**|Angel Trust - A Charity For The|People|
|---|---|---|
|**Charity registration number**|1178926||
|**Principal office**|Belvedere House||
||Kingsway||
||Bishop Auckland||
||County Durham||
||DL14 7JN||
|**The trustees**|||
||Beryl Anderson||
||Mark Boyes||
||Nicola Stephenson||
||Kathryn Stabler||
||Malcolm Cresswell|(Appointed 7 September 2023)|
||Michelle Telford||
||Luke Jones||
|**Chief Executive Officer**|Clair McGregor||
|**Independent examiner**|Jane Ascroft FCA MA(Cantab)||
||Enterprise House||
||Harmire Enterprise Park||
||Barnard Castle||
||County Durham||
||DL12 8XP||



The trustees' annual report was approved on 25 April 2025 and signed on behalf of the board of trustees by: 


Beryl Anderson Trustee 

**8** 



## **Angel Trust - A Charity For The People** 

## **Independent Examiner's Report to the Trustees of Angel Trust - A Charity For The People** 

## **Year ended 30 June 2024** 

I report to the trustees on my examination of the financial statements of Angel Trust - A Charity For The People ('the charity') for the year ended 30 June 2024. 

## **Responsibilities and basis of report** 

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). 

I report in respect of my examination of the charity's financial statements 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 examiner's statement** 

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. 

I have completed my examination. I confirm that no material 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 Act; or 

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

3. the financial statements 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. 


Jane Ascroft FCA MA (Cantab) Independent Examiner 

Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP 

**9** 



## **Angel Trust - A Charity For The People** 

## **Statement of Financial Activities** 

## **Year ended 30 June 2024** 

||||**2024**||2023|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|83,613|89,489|173,102|94,670|
|Charitable activities|**5**|78,784|4,817|83,601|50,093|
|Other trading activities|**6**|190,314|–|190,314|219,423|
|Investment income|**7**|4|–|4|39|
|Other income|**8**|7,294|–|7,294|4,958|
|||`─────────`|`────────`|`─────────`|`─────────`|
|**Total income**||360,009|94,306|454,315|369,183|
|||`═════════`|`════════`|`═════════`|`═════════`|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of raising donations and||||||
|legacies|**9**|16,033|–|16,033|16,384|
|Costs of other trading activities|**10**|176,051|–|176,051|213,725|
|Expenditure on charitable activities|**11,12**|120,958|94,306|215,264|130,750|
|||`─────────`|`────────`|`─────────`|`─────────`|
|**Total expenditure**||313,042|94,306|407,348|360,859|
|||`═════════`|`════════`|`═════════`|`═════════`|
|||`─────────`|`────────`|`─────────`|`─────────`|
|**Net income and net movement in funds**||46,967|–|46,967|8,324|
|||`═════════`|`════════`|`═════════`|`═════════`|
|**Reconciliation of funds**||||||
|Total funds brought forward||102,394|–|102,394|94,070|
|||`─────────`|`────────`|`─────────`|`─────────`|
|**Total funds carried forward**||149,361|–|149,361|102,394|
|||`═════════`|`════════`|`═════════`|`═════════`|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 12 to 23 form part of these financial statements.** 

**10** 



## **Angel Trust - A Charity For The People** 

## **Statement of Financial Position** 

## **30 June 2024** 

|||**2024**|2023|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**17**|46,862|64,875|
|Investments|**18**|2|1|
|||`────────`|`────────`|
|||46,864|64,876|
|**Current assets**||||
|Stocks|**19**|3,000|3,000|
|Debtors|**20**|13,447|17,564|
|Cash at bank and in hand||158,175|81,426|
|||`─────────`|`─────────`|
|||174,622|101,990|
|**Creditors: amounts falling due within one year**|**21**|72,125|64,472|
|||`─────────`|`─────────`|
|**Net current assets**||102,497|37,518|
|||`─────────`|`─────────`|
|**Total assets less current liabilities**||149,361|102,394|
|||`─────────`|`─────────`|
|**Net assets**||149,361|102,394|
|||`═════════`|`═════════`|
|**Funds of the charity**||||
|Unrestricted funds||149,361|102,394|
|||`─────────`|`─────────`|
|**Total charity funds**|**24**|149,361<br>`═════════`|102,394<br>`═════════`|



These financial statements were approved by the board of trustees and authorised for issue on 25 April 2025, and are signed on behalf of the board by: 


Beryl Anderson Trustee 

**The notes on pages 12 to 23 form part of these financial statements.** 

**11** 



**Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** 

## **Year ended 30 June 2024** 

## **1. General information** 

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Belvedere House, Kingsway, Bishop Auckland, County Durham, DL14 7JN. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

The entity is a Public Benefit Entity. 

## **Going concern** 

There are no material uncertainties about the charity’s ability to continue. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.  The trustees consider that there are no significant estimates or judgements affecting these financial statements. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

**12** 



**Angel Trust - A Charity For The People** 

**Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Income** 

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. 

Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. 

Investment income is included when receivable. 

Income from charitable trading activity is accounted for when earned. 

Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. 

## **Expenditure** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: 

Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts. 

## **Operating leases** 

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 

**13** 



**Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Fixtures and fittings - 10% - 20% Straight line Motor vehicles - 25% reducing balance Equipment - 10% - 25% Straight line Kitchen equipment - 25% reducing balance 

## **Investments** 

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 

## **Impairment of fixed assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

## **Stocks** 

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. 

## **Financial instruments** 

The charity only has financial assets and 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. 

**14** 



**Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **3. Accounting policies** _**(continued)**_ 

## **Defined contribution plans** 

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 

## **Trade debtors** 

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

Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. 

## **Cash at Bank and in Hand** 

Cash at bank and cash 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. 

## **Trade creditors** 

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Taxation** 

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

**15** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **4. Donations and legacies** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|**Donations**||||
|Donations|61,825|–|61,825|
|Gift aid recoverable|8,222|–|8,222|
|Charities Trust|562|–|562|
|Food Bank Sponsorship|–|–|–|
|Friends of Angel Trust|404|–|404|
|Corporate partners|2,000|–|2,000|
|**Gifts**||||
|Gifts in kind - Venue hire|4,000|–|4,000|
|Gifts in kind - Car lease|600|–|600|
|**Grants**||||
|DCC Neighbourhood Budget|–|5,625|5,625|
|County Durham Community Foundation|–|11,773|11,773|
|National Lottery Community Fund|–|63,091|63,091|
|Access Reach|–|9,000|9,000|
|Sainsburys|1,500|–|1,500|
|Amazon|2,500|–|2,500|
|Santander|2,000|–|2,000|
||`────────`|`────────`|`─────────`|
||83,613|89,489|173,102|
||`════════`|`════════`|`═════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|**Donations**||||
|Donations|35,687|–|35,687|
|Gift aid recoverable|12,100|–|12,100|
|Charities Trust|5,328|–|5,328|
|Food Bank Sponsorship|3,500|–|3,500|
|Friends of Angel Trust|792|–|792|
|Corporate partners|1,502|–|1,502|
|Amazon|115|–|115|
|**Gifts**||||
|Gifts in kind - Venue hire|4,000|–|4,000|
|Gifts in kind - Car lease|1,200|–|1,200|



**16** 



**Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **4. Donations and legacies** _**(continued)**_ 

||Unrestricted|Restricted|Total Funds|
|---|---|---|---|
||Funds|Funds|2023|
||£|£|£|
|**Grants**||||
|BUPA|6,000|–|6,000|
|South Durham Enterprise Agency|–|11,000|11,000|
|DCC Neighbourhood Budget|–|13,446|13,446|
||`────────`|`────────`|`────────`|
||70,224|24,446|94,670|
||`════════`|`════════`|`════════`|



Gifts in kind comprise venue hire worth £4,000 and a vehicle lease worth £600. 

## **5. Charitable activities** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|Community Pantry|78,784|–|78,784|
|Fun and Food|–|4,817|4,817|
||`────────`|`───────`|`────────`|
||78,784|4,817|83,601|
||`════════`|`═══════`|`════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|Community Pantry|50,093|–|50,093|
||`────────`|`────`|`────────`|
||50,093|–|50,093|
||`════════`|`════`|`════════`|



## **6. Other trading activities** 

||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|**2024**|Funds|2023|
||£|**£**|£|£|
|Fundraising events|166,704|166,704|174,488|174,488|
|Merchandise income|1,413|1,413|3,330|3,330|
|Fundraising|11,600|11,600|33,303|33,303|
|Charity Shop|1,847|1,847|4,482|4,482|
|RAG|8,750|8,750|3,820|3,820|
||`─────────`|`─────────`|`─────────`|`─────────`|
||190,314|190,314|219,423|219,423|
||`═════════`|`═════════`|`═════════`|`═════════`|



**17** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **7. Investment income** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Bank interest receivable|4|4|39|39|
|||`════`|`════`|`════`|`════`|
|**8.**|**Other income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Employment allowance|6,339|6,339|4,958|4,958|
||Other income|955|955|–|–|
|||`───────`|`───────`|`───────`|`───────`|
|||7,294|7,294|4,958|4,958|
|||`═══════`|`═══════`|`═══════`|`═══════`|
|**9.**|**Costs of raising donations and legacies**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Costs of raising donations and legacies|16,033|16,033|16,384|16,384|
|||`════════`|`════════`|`════════`|`════════`|
|**10.**|**Costs of other trading activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Cost of fundraising events|176,051|176,051|213,725|213,725|
|||`═════════`|`═════════`|`═════════`|`═════════`|
|**11.**|**Expenditure on charitable activities by fund type**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2024**|
||||£|£|**£**|
||Costs of charitable activities||12,930|94,306|107,236|
||Support costs||108,028|–|108,028|
||||`─────────`|`────────`|`─────────`|
||||120,958|94,306|215,264|
||||`═════════`|`════════`|`═════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||Costs of charitable activities||54,688|–|54,688|
||Support costs||76,062|–|76,062|
||||`─────────`|`────`|`─────────`|
||||130,750|–|130,750|
||||`═════════`|`════`|`═════════`|



**18** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **12. Expenditure on charitable activities by activity type** 

|||Activities||||
|---|---|---|---|---|---|
||undertaken|||**Total funds**|Total fund|
|||directly|Support costs|**2024**|2023|
|||£|£|**£**|£|
||Costs of charitable activities|107,236|<br>106,637|213,873|129,360|
||Governance costs|–|<br>1,391|1,391|1,390|
|||`─────────`|<br>`─────────`|`─────────`|`─────────`|
|||107,236|<br>108,028|215,264|130,750|
|||`═════════`|<br>`═════════`|`═════════`|`═════════`|
|**13.**|**Net income**|||||
||Net income is stated after charging/(crediting):|||||
|||||**2024**|2023|
|||||**£**|£|
||Depreciation of tangible fixed assets|||21,845|15,675|
|||||`════════`|`════════`|
|**14.**|**Independent examination fees**|||||
|||||**2024**|2023|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial statements|||1,260<br>`═══════`|1,260<br>`═══════`|



## **15. Staff costs** 

The total staff costs and employee benefits for the reporting period are analysed as follows: 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Wages and salaries|130,572|87,810|
|Social security costs|9,494|6,808|
|Employer contributions to pension plans|2,124|2,832|
||`─────────`|`────────`|
||142,190|97,450|
||`═════════`|`════════`|



The average head count of employees during the year was 9 (2023: 9). 

No employee received employee benefits of more than £60,000 during the year (2023: Nil). 

## **Key Management Personnel** 

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £44,952 (2023:£41,000). 

## **16. Trustee remuneration and expenses** 

Trustees received no remuneration or expenses in the current and previous year. 

**19** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **17. Tangible fixed assets** 

||Fixtures and|Motor||Kitchen||
|---|---|---|---|---|---|
||fittings|vehicles|Equipment|equipment|**Total**|
||£|£|£|£|**£**|
|**Cost**||||||
|At 1 July 2023|45,585|6,500|4,331|49,990|106,406|
|Additions|–|–|3,832|–|3,832|
||`────────`|`───────`|`───────`|`────────`|`─────────`|
|**At 30 June 2024**|45,585|6,500|8,163|49,990|110,238|
||`════════`|`═══════`|`═══════`|`════════`|`═════════`|
|**Depreciation**||||||
|At 1 July 2023|33,328|271|1,623|6,309|41,531|
|Charge for the year|8,410|1,557|958|10,920|21,845|
||`────────`|`───────`|`───────`|`────────`|`─────────`|
|**At 30 June 2024**|41,738|1,828|2,581|17,229|63,376|
||`════════`|`═══════`|`═══════`|`════════`|`═════════`|
|**Carrying amount**||||||
|**At 30 June 2024**|3,847|4,672|5,582|32,761|46,862|
||`════════`|`═══════`|`═══════`|`════════`|`═════════`|
|At 30 June 2023|12,257|6,229|2,708|43,681|64,875|
||`════════`|`═══════`|`═══════`|`════════`|`═════════`|



## **18. Investments** 

||**Shares in**|
|---|---|
||**group**|
||**undertakings**|
||**£**|
|**Cost or valuation**||
|At 1 July 2023|1|
|Additions|1|
||`────`|
|**At 30 June 2024**|2|
||`════`|
|**Impairment**||
|**At 1 July 2023 and 30 June 2024**|–|
||`════`|
|**Carrying amount**||
|**At 30 June 2024**|2|
||`════`|
|At 30 June 2023|1|
||`════`|



All investments shown above are held at valuation. 

The investments represent 1 £1 share in Angel Trust Trading Limited and 1 £1 share in Angel Trust Coffee Shop Limited. 

At 30th June 2024 Angel Trust Trading Limited had total capital of £1 and negative reserves of £7,333.  It owed £5,918 to the charity at that date. 

At 30th June 2024 Angel Trust Coffee Shop Limited had total capital of £1 and negative reserves of £1,508.  It owed £1,374 to the charity at that date. 

**20** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

|**19.**|**Stocks**|||
|---|---|---|---|
|||**2024**|2023|
|||**£**|£|
||Merchandise stock|3,000|3,000|
|||`═══════`|`═══════`|
|**20.**|**Debtors**|||
|||**2024**|2023|
|||**£**|£|
||Trade debtors|300|155|
||Amounts owed by group undertakings|7,291|11|
||Prepayments and accrued income|5,804|3,952|
||Accrued grant income|–|13,446|
||Other debtors|52|–|
|||`────────`|`────────`|
|||13,447|17,564|
|||`════════`|`════════`|
|**21.**|**Creditors:** **amounts falling due within one year**|||
|||**2024**|2023|
|||**£**|£|
||Trade creditors|9,847|17,186|
||Accruals and deferred income|45,855|46,511|
||Social security and other taxes|2,247|–|
||Wages creditor|10,871|50|
||Other creditors|3,305|725|
|||`────────`|`────────`|
|||72,125|64,472|
|||`════════`|`════════`|
|**22.**|**Deferred income**|||
|||**2024**|2023|
|||**£**|£|
||At 1 July 2023|44,303|49,640|
||Amount released to income|(44,303)|(49,640)|
||Amount deferred in year|44,008|44,303|
|||`────────`|`────────`|
||**At 30 June 2024**|44,008|44,303|
|||`════════`|`════════`|



Deferred income represents event income received in advance. 

## **23. Pensions and other post retirement benefits** 

## **Defined contribution plans** 

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,124 (2023: £2,832). 

**21** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **24. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**|||||||
|---|---|---|---|---|---|---|
||At|||||**At**|
||1 July 2023|Income|Expenditure|Transfers|<br>**30 June 2024**||
||£|£|£|£||£|
|General funds|102,394|360,009|(313,042)|–||149,361|
||`═════════`|`═════════`|`═════════`|`════`||<br>`═════════`|
||At|||||At|
||1 July 2022|Income|Expenditure|Transfers||30 June 2023|
||£|£|£|£||£|
|General funds|94,070|344,737|(360,859)|24,446||102,394|
||`════════`|`═════════`|`═════════`|`════════`||<br>`═════════`|
|**Restricted funds**|||||||
||At|||||**At 30**|
||1 July 2023|Income|Expenditure|Transfers||**June 2024**|
||£|£|£|£||£|
|National Lottery|||||||
|Community Fund|–|63,091|(63,091)|–||–|
|County Durham|||||||
|Community Foundation|||||||
|(Point North)|–|11,773|(11,773)|–||–|
|DCC Homeless Support|–|300|(300)|–||–|
|DCC Fun & Food|–|4,817|(4,817)|–||–|
|DCC Cook with Books|–|5,325|(5,325)|–||–|
|Access Reach|–|9,000|(9,000)|–||–|
||`────`|`────────`|`────────`|`────`||<br>`────`|
||–|94,306|(94,306)|–||–|
||`════`|`════════`|`════════`|`════`||<br>`════`|
||At|||||At 30|
||1 July 2022|Income|Expenditure|Transfers||June 2023|
||£|£|£|£||£|
|South Durham|||||||
|Enterprise Agency|–|11,000|–|(11,000)||<br>–|
|DCC Neighbourhood|||||||
|Budget|–|13,446|–|(13,446)||<br>–|
||`────`|`────────`|`────`|`────────`||<br>`────`|
||–|24,446|–|(24,446)||<br>–|
||`════`|`════════`|`════`|`════════`||<br>`════`|



**22** 



## **Angel Trust - A Charity For The People** 

## **Notes to the Financial Statements** _**(continued)**_ 

## **Year ended 30 June 2024** 

## **24. Analysis of charitable funds** _**(continued)**_ 

The restricted grants were for the following purposes: 

National Lottery Community Fund - Running costs County Durham Community Foundation (now Point North) Access Reach - Business planning consultancy 

DCC Cook with Books - School holiday activities/Food DCC Homeless Support - Homeless support DCC Fun & Food - School holiday activities/Food 

## **25. Analysis of net assets between funds** 

||Unrestricted|**Total Funds**|
|---|---|---|
||Funds|**2024**|
||£|**£**|
|Tangible fixed assets|46,862|46,862|
|Investments|2|2|
|Current assets|174,622|174,622|
|Creditors less than 1 year|(72,125)|<br>(72,125)|
||`─────────`|`─────────`|
|**Net assets**|149,361|149,361|
||`═════════`|`═════════`|
||Unrestricted|Total Funds|
||Funds|2023|
||£|£|
|Tangible fixed assets|64,875|64,875|
|Investments|1|1|
|Current assets|101,990|101,990|
|Creditors less than 1 year|(64,472)|<br>(64,472)|
||`─────────`|`─────────`|
|**Net assets**|102,394|102,394|
||`═════════`|`═════════`|



## **26. Operating lease commitments** 

The total future minimum lease payments under non-cancellable operating leases are as follows: 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Not later than 1 year|9,600|4,560|
|Later than 1 year and not later than 5 years|25,950|12,600|
||`────────`|`────────`|
||35,550|17,160|
||`════════`|`════════`|



## **27. Related parties** 

M Boyes is a trustee of the charity. During the year he was paid £14,210 (2023 - £14,232) in respect of services provided to run the charity's events. 

K Stabler is also a trustee of the charity.  She was paid £700 during the year (2023 - Nil) for the provision of training. 

**23** 



**Angel Trust - A Charity For The People** 

**Management Information** 

**Year ended 30 June 2024** 

**The following pages do not form part of the financial statements.** 

**24** 



## **Angel Trust - A Charity For The People** 

## **Detailed Statement of Financial Activities** 

## **Year ended 30 June 2024** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|**Income and endowments**|||
|**Donations and legacies**|||
|Donations|61,825|35,687|
|Gift aid recoverable|8,222|12,100|
|Charities Trust|562|5,328|
|Food Bank Sponsorship|–|3,500|
|Friends of Angel Trust|404|792|
|Corporate partners|2,000|1,502|
|Amazon|–|115|
|Gifts in kind - Venue hire|4,000|4,000|
|Gifts in kind - Car lease|600|1,200|
|BUPA|–|6,000|
|South Durham Enterprise Agency|–|11,000|
|DCC Neighbourhood Budget|5,625|13,446|
|County Durham Community Foundation|11,773|–|
|National Lottery Community Fund|63,091|–|
|Access Reach|9,000|–|
|Sainsburys|1,500|–|
|Amazon|2,500|–|
|Santander|2,000|–|
||`─────────`|`────────`|
||173,102|94,670|
||`─────────`|`────────`|
|**Charitable activities**|||
|Community Pantry|78,784|50,093|
|Fun and Food|4,817|–|
||`────────`|`────────`|
||83,601|50,093|
||`────────`|`────────`|
|**Other trading activities**|||
|Fundraising events|166,704|174,488|
|Merchandise income|1,413|3,330|
|Fundraising|11,600|33,303|
|Charity Shop|1,847|4,482|
|RAG|8,750|3,820|
||`─────────`|`─────────`|
||190,314|219,423|
||`─────────`|`─────────`|
|**Investment income**|||
|Bank interest receivable|4|39|
||`────`|`────`|
|**Other income**|||
|Employment allowance|6,339|4,958|
|Other income|955|–|
||`───────`|`───────`|
||7,294|4,958|
||`───────`|`───────`|
||`─────────`|`─────────`|
|**Total income**|454,315|369,183|
||`═════════`|`═════════`|



**25** 



## **Angel Trust - A Charity For The People** 

## **Detailed Statement of Financial Activities** _**(continued)**_ 

## **Year ended 30 June 2024** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|**Expenditure**|||
|**Costs of raising donations and legacies**|||
|Costs of raising donations and legacies|16,033|16,384|
||`────────`|`────────`|
|**Cost of fundraising events**|||
|Wages|40,340|37,271|
|Employer's NIC|3,506|3,346|
|Pension costs|2,124|2,832|
|Cost of fundraising events|116,956|147,444|
|Advertising and marketing|3,707|3,523|
|Merchandise costs|3,509|4,488|
|Community Fundraiser|–|11,999|
|Other fundraising costs|5,909|2,822|
||`─────────`|`─────────`|
||176,051|213,725|
||`─────────`|`─────────`|
|**Expenditure on charitable activities**|||
|**_Activities undertaken directly_**|||
|Wages|66,791|30,919|
|Employer's NIC|4,243|1,881|
|Equipment expense and hire|2,739|–|
|Motor vehicle expenses|7,352|4,582|
|Community Pantry costs|23,858|17,306|
|Fun and Food costs|2,253|–|
||`─────────`|`─────────`|
||107,236|54,688|
||`─────────`|`─────────`|
|**_Support costs_**|||
|Wages|23,441|19,620|
|Employer's NIC|1,745|1,581|
|Rent|12,450|8,483|
|Light and heat|7,479|4,125|
|Insurance|1,467|864|
|Other premises costs|7,213|7,582|
|Travel and subsistence|2,045|4,613|
|Consultancy fees|13,400|–|
|Telephone & IT|4,890|3,946|
|Other office costs|5,363|3,439|
|Depreciation|21,845|15,675|
|Online transaction costs|2,583|2,335|
|Other costs|2,716|2,409|
||`─────────`|`────────`|
||106,637|74,672|
||`─────────`|`────────`|
|**Governance costs**|||
|Accountancy fees|1,200|1,260|
|Bank charges and interest|191|130|
||`───────`|`───────`|
||1,391|1,390|
||`───────`|`───────`|
||`─────────`|`─────────`|
|**Expenditure on charitable activities**|215,264|130,750|
||`═════════`|`═════════`|
||`─────────`|`─────────`|
|**Total expenditure**|407,348|360,859|
||`═════════`|`═════════`|
||`─────────`|`─────────`|
|**Net income**|46,967|8,324|
||`═════════`|`═════════`|



**26**