**Charity Registration Number: 1178926** 

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

## **Financial Statements** 

## **For the year ending** 

## **30 June 2025** 

## **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 2025** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**11**|
|Statement of financial activities|**12**|
|Statement of financial position|**13**|
|Statement of cash flows|**14**|
|Notes to the financial statements|**15**|





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

## **Trustees' Annual Report** 

## **Year ended 30 June 2025** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2025. 

## **Chair's report** 

As chair of trustees, I have prepared this statement as part of the annual report for July 2024-June 2025. This year saw the biggest year yet in terms of diversification for Angel Trust, as we expanded into new territories and avenues to further support our local community. 

2024-2025 saw the launch of our Angel Trust Safe Hub, the first full year of our Angel Trust Emporium Charity Shop and the first few weeks trade of our Beehive Coffee Shop. Alongside this we welcomed our new in-house counselling service and also opened our Angel Trust premises up to multiple organisations to support our local community through their expertise. Recognising the changing economic climate we have reviewed and adjusted some of our revenue streams and will continue to do so into 2025-2026 as we look at the exciting launch of our next projects. 

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. Our community pantry continues to serve hundreds of shoppers each week, 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. We continued for a second year to 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 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 including those families who are experiencing terminal illness, the participation of a special tailored Christmas party and the Weardale Christmas train. We would also like to thank our ambassador John Adamson, for his support in choosing Angel Trust to be the nominated charity for a number of fundraising events at his venues. 

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 2025-2026. 

Beryl Anderson Chairman for the Board of Trustees 

**1** 



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

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

## **Year ended 30 June 2025** 

## **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 and many more. We are quickly becoming the charity that people turn to. 

**2** 



ANGEL TRUST
SAFE NIGHT HUB
Winter 2024 saw an exctting development for Angel Trust as the
Charity opened a Safe Night Hub, in partnership with Durham
County CounciL The Hub isthe first of its kind in the county,
providing emergency shelter, homfrcooked meals and wrap-around
care for homeless individuals within County Durham and Darlington.
The introduction of the Night Hub saw our services expand quickly,
not only with night-time facilities but also day time suppoo with
clients seeking advi￿ and help from specially trained Navigators.
Clients are supported with a range of issues, focusing on
rehabilitation and rehousing incLuding mental health guidance and
clothing supporL
Many of the individuals we support aLso give back to the Trust
through voluntary efforts, incLuding cleaning stocking shelves and
helping with day to day Lasks around the site. The care doesn't end at
the door, support is still provided to clients afterthey leave the hub,
incLuding support with foodbank parcels and household goods.

BEEHIVE COFFEE
SHOP
y£ fwjt
May 2025 saw the opening of our subsidiary, The 8￿h1ve Coffee
Shop.
The Beehive has been created as an affordable Coff￿ shop, offering
a comfortable, accessible space for Local residents to meet friends
and family, whilst enjoying highsuality food and drinks.
The Coffee Shop has created several employment and vOlunt￿r
roles since its opening hiring local individuaLs who have since been
given training on aspects such as food hygiene, manual handling and
other relevant courses, creating a stronger workforce and aiding the
Local economy.
The Coffee Shop team aLso act as afirst line of support, signposting
customers to the wider AngeL Trust Servi￿ if they spot signs of
distress. Local groups are also using the B￿h1ve for cLubs, including
a monthly book club and aveteranssupportgroupthat meet on a
weekLy basis to catch up over a slice of cake!

ANGEL TRUST
COUNSELLING
Angel Trust continues to respond to the Local community and
identify opportunities to providesupporL An areaof support
frequentLy requested was counselling services and welLbeing
support, given the current waiting within the local authority. The
County Durham area is ranked within the top 10 for suicide rates per
year according to statistics published by the ONS
We are so proud that in 2024-2025 we launched OUrfr￿ in house
counseLling service, delivered by two specialists, we take referraLs
from the locaL community and also directly from our Safe Night Hub.
The coun*lLors offer several sessions encompassing support for
both suicidelself harm prevention and post trauma therapy.
With thanks to grant income,we have deveLoped state-of-the-
art counseLling suites. Being able to support local peopLe at often the
most difficulttime in their lives has been avery rewarding avenuefor
expansion.
+Anrt fuut

COMMUNITY
SUPPORT
-qn8d fuut
Wish Granting-
Angel Trust continues to supportthe wider community through Wish
Granting. Several families who are undergoing serious illnesses have
received holiday vouchers and stays at a Iccal spa hotel offering much
needed respite &time forfamilies attheir lowesttime. We also supported
ayoung lady who is undergoing chemotherapy by sending her to
Fenwicks with afvll makeup experien￿, on top of many more lif
changing experiences for children and families.
ToyAppeal-
The AngelTrust continues its Toy Appeal after years of success, donating
some 15,000 toys to local children. We received hundreds of referrals
from local hospitals, social care and school settings forthese gifts.
Christmas Party-
The AngelTrust offers a Christmas Party every yearto vulnerable
chiLdren and famiLie& completely fr￿ of charge, the event encompasses
the opportunity to meet Santa and enjoy a delj'cious meal with their
family.

FUNDRAISING
-qn8d fuut
The TNst continues to run several largefundraising events across
the year, and 2024-25 was no differenLI
We ran a Thr* Peaks Trek, Whe￿ brave VolUnt￿rS scaled mountains
and fells to raise money forthe Trust.
Tess On Tour remains famous amongst AngeL Trust supporters, with
hundreds of fans travelling to Blackpool for a wild weekend of Drag
Entertainment and Laughter, all whilst raising funds for the Trust.
rickets continue to seLI out year on year, w￿h many LoyaL supporters
booking several tickets forfriends and families.
Ladies Day was another big success, working cLosely with Ramside
Estates we held a brilliant fvndraising day. The Ladies Looked fantastic
and took part in game8 entertainmentand enjoyed luxury diningand
drinksl
Jiji

2024-25
IN REVIEW
-qn8d fuut
TheTNst has had averysuccessful202+2Swith growth and
expansion across the entire Charity.
The Emporium Charty Shop has celebrated its first year, and is
proving very popuLar. We wouLd like to say thank you for all
customers for shopping with us, and for donating surplus clothes
which are then sold in the store The Trust have also received several
large donations from Corporate donors, which has proved valuabLe.
The Community Pantry continues to support the region with
affordable food and products, we would Like to express a thank you
to local supermarkets and the Auckland Project for donations of
surplus products.
Finally, we would like to express our gratitude for ourTrustees, Staff &
Volunteers for their continued hardwork in supporting the Charity
and helping us grow and flourish.
IJ
Clothi

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

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

## **Year ended 30 June 2025** 

## **Financial review** 

The charity generated income of £943,900 (2024 - £454,315) during its seventh year and incurred expenditure of £844,739 (2024 - £407,348). 

## **Reserves policy** 

Trustees aim to hold six months running costs as free reserves which currently equates to approximately £214,000. The charity's unrestricted reserves currently stand at £218,304 (2024 - £149,361) 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, Natalie Philips, Anderson Family and Samantha Atkinson 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. 

## **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. 

**9** 



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

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

**Year ended 30 June 2025** 

## **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 Malcolm Cresswell (Resigned 3 June 2025) Kathryn Stabler (Resigned 5 November 2025) Michelle Telford Luke Jones Nicola Harmer was appointed as a Trustee on 20 January 2026. **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 30[th] April 2026 and signed on behalf of the board of trustees by: 


Beryl Anderson Trustee 

**10** 



## **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 2025** 

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 2025. 

## **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 

**11** 



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

## **Statement of Financial Activities** 

## **Year ended 30 June 2025** 

||||**2025**||2024|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|119,239|314,688|433,927|173,102|
|Charitable activities|**5**|300,005|9,260|309,265|83,601|
|Other trading activities|**6**|189,457|–|189,457|190,314|
|Investment income|**7**|473|–|473|4|
|Other income|**8**|10,778|–|10,778|7,294|
|||`─────────`|`─────────`|`─────────`|`─────────`|
|**Total income**||619,952|323,948|943,900|454,315|
|||`═════════`|`═════════`|`═════════`|`═════════`|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of raising donations and||||||
|legacies|**9**|230|–|230|132|
|Costs of other trading activities|**10**|154,716|–|154,716|176,051|
|Expenditure on charitable activities|**11,12**|396,063|293,730|689,793|231,165|
|||`─────────`|`─────────`|`─────────`|`─────────`|
|**Total expenditure**||551,009|293,730|844,739|407,348|
|||`═════════`|`═════════`|`═════════`|`═════════`|
|||`─────────`|`─────────`|`─────────`|`─────────`|
|**Net income and net movement in funds**||68,943|30,218|99,161|46,967|
|||`═════════`|`═════════`|`═════════`|`═════════`|
|**Reconciliation of funds**||||||
|Total funds brought forward||149,361|–|149,361|102,394|
|||`─────────`|`─────────`|`─────────`|`─────────`|
|**Total funds carried forward**||218,304|30,218|248,522|149,361|
|||`═════════`|`═════════`|`═════════`|`═════════`|



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 15 to 27 form part of these financial statements.** 

**12** 



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

## **Statement of Financial Position** 

## **30 June 2025** 

|||**2025**|2024|
|---|---|---|---|
||**Note**|**£**|£|
|**Fixed assets**||||
|Tangible fixed assets|**18**|51,274|46,862|
|Investments|**19**|2|2|
|||`────────`|`────────`|
|||51,276|46,864|
|**Current assets**||||
|Stocks|**20**|5,000|3,000|
|Debtors|**21**|110,468|13,447|
|Cash at bank and in hand||262,566|158,175|
|||`─────────`|`─────────`|
|||378,034|174,622|
|**Creditors: amounts falling due within one year**|**22**|149,121|72,125|
|||`─────────`|`─────────`|
|**Net current assets**||228,913|102,497|
|||`─────────`|`─────────`|
|**Total assets less current liabilities**||280,189|149,361|
|**Creditors: amounts falling due after more than one year**|**23**|31,667|–|
|||`─────────`|`─────────`|
|**Net assets**||248,522|149,361|
|||`═════════`|`═════════`|
|**Funds of the charity**||||
|Restricted funds||30,218|–|
|Unrestricted funds||218,304|149,361|
|||`─────────`|`─────────`|
|**Total charity funds**|**26**|248,522<br>`═════════`|149,361<br>`═════════`|



These financial statements were approved by the board of trustees and authorised for issue on 30[th] April 2026, and are signed on behalf of the board by: 


Beryl Anderson Trustee 

**The notes on pages 15 to 27 form part of these financial statements.** 

**13** 



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

## **Statement of Cash Flows** 

## **Year ended 30 June 2025** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income|99,161|46,967|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|12,460|21,845|
|Other interest receivable and similar income|(473)|(4)|
|Interest payable and similar charges|2,708|–|
|Loss on disposal of heritage assets|3,472|–|
|Accrued expenses/(income)|1,363|(361)|
|_Changes in:_|||
|Stocks|(2,000)|–|
|Trade and other debtors|(97,021)|4,117|
|Trade and other creditors|65,633|8,014|
||`────────`|`────────`|
|Cash generated from operations|85,303|80,578|
|Interest paid|(2,708)|–|
|Interest received|473|4|
||`────────`|`────────`|
|Net cash from operating activities|83,068|80,582|
||`════════`|`════════`|
|**Cash flows from investing activities**|||
|Purchase of tangible assets|(21,544)|(3,832)|
|Proceeds from sale of tangible assets|1,200|–|
|Acquisition of subsidiaries|–|(1)|
||`────────`|`────────`|
|Net cash used in investing activities|(20,344)|(3,833)|
||`════════`|`════════`|
|**Cash flows from financing activities**|||
|Proceeds from borrowings|41,667|–|
||`────────`|`────────`|
|Net cash from financing activities|41,667|–|
||`════════`|`════════`|
|**Net increase in cash and cash equivalents**|104,391|76,749|
|**Cash and cash equivalents at beginning of year**|158,175|81,426|
||`─────────`|`─────────`|
|**Cash and cash equivalents at end of year**|262,566|158,175|
||`═════════`|`═════════`|



**The notes on pages 15 to 27 form part of these financial statements.** 

**14** 



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

## **Notes to the Financial Statements** 

## **Year ended 30 June 2025** 

## **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. 

**15** 



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

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

## **Year ended 30 June 2025** 

## **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.  There has been a change in policy for the recognition of gifts in kind with donations of food, toys and easter eggs now being included within the accounts. 

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. 

**16** 



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

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

## **Year ended 30 June 2025** 

## **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. 

**17** 



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

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

## **Year ended 30 June 2025** 

## **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. 

**18** 



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

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

## **Year ended 30 June 2025** 

## **4. Donations and legacies** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2025**|
||£|£|**£**|
|**Donations**||||
|Donations|50,231|–|50,231|
|Gift aid recoverable|9,619|–|9,619|
|Friends of Angel Trust|289|–|289|
|Corporate partners|1,500|–|1,500|
|**Gifts in kind**||||
|Venue hire|4,000|–|4,000|
|Car lease|600|–|600|
|Toy appeal|35,000|–|35,000|
|Easter Eggs|3,000|–|3,000|
|Foodbank donations|15,000|–|15,000|
|**Grants**||||
|Point North|–|55,625|55,625|
|DCC - Community Infrastructure|–|200,470|200,470|
|Key Fund|–|20,000|20,000|
|DCC - Admin Support|–|15,000|15,000|
|DCC - Refurbishment|–|15,593|15,593|
|DPC - Mental Health Support|–|8,000|8,000|
||`─────────`|`─────────`|`─────────`|
||119,239|314,688|433,927|
||`═════════`|`═════════`|`═════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2024|
||£|£|£|
|**Donations**||||
|Donations|61,825|–|61,825|
|Gift aid recoverable|8,222|–|8,222|
|Charities Trust|562|–|562|
|Friends of Angel Trust|404|–|404|
|Corporate partners|2,000|–|2,000|
|**Gifts in kind**||||
|Venue hire|4,000|–|4,000|
|Car lease|600|–|600|
|**Grants**||||
|DCC - Neighbourhood Budget|–|5,625|5,625|
|Point North|–|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|
||`════════`|`════════`|`═════════`|



**19** 



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

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

## **Year ended 30 June 2025** 

## **5. Charitable activities** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2025**|
||£|£|**£**|
|Community Pantry and Foodbank|82,505|–|82,505|
|Fun and Food|–|9,260|9,260|
|Commissioned Services|217,500|–|217,500|
||`─────────`|`───────`|`─────────`|
||300,005|9,260|309,265|
||`═════════`|`═══════`|`═════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2024|
||£|£|£|
|Community Pantry and Foodbank|78,784|–|78,784|
|Fun and Food|–|4,817|4,817|
||`────────`|`───────`|`────────`|
||78,784|4,817|83,601|
||`════════`|`═══════`|`════════`|



**20** 



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

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

## **Year ended 30 June 2025** 

## **6. Other trading activities** 

|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Fundraising events|152,686|152,686|166,704|166,704|
||Merchandise income|694|694|1,413|1,413|
||Fundraising|11,342|11,342|11,600|11,600|
||Charity Shop|–|–|1,847|1,847|
||RAG|8,020|8,020|8,750|8,750|
||Catering and cookery classes|15,540|15,540|–|–|
||Room hire|1,175|1,175|–|–|
|||`─────────`|`─────────`|`─────────`|`─────────`|
|||189,457|189,457|190,314|190,314|
|||`═════════`|`═════════`|`═════════`|`═════════`|
|**7.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Bank interest receivable|473|473|4|4|
|||`════`|`════`|`════`|`════`|
|**8.**|**Other income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Employment allowance|10,678|10,678|6,339|6,339|
||Other income|100|100|955|955|
|||`────────`|`────────`|`───────`|`───────`|
|||10,778|10,778|7,294|7,294|
|||`════════`|`════════`|`═══════`|`═══════`|
|**9.**|**Costs of raising donations and legacies**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Costs of raising donations and legacies|230|230|132|132|
|||`════`|`════`|`════`|`════`|
|**10.**|**Costs of other trading activities**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2025**|Funds|2024|
|||£|**£**|£|£|
||Costs of other trading activities|154,716|154,716|176,051|176,051|
|||`═════════`|`═════════`|`═════════`|`═════════`|



**21** 



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

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

## **Year ended 30 June 2025** 

## **11. Expenditure on charitable activities by fund type** 

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2025**|
||£|£|**£**|
|Costs of charitable activities|243,463|284,562|528,025|
|Support costs|152,600|9,168|161,768|
||`─────────`|`─────────`|`─────────`|
||396,063|293,730|689,793|
||`═════════`|`═════════`|`═════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2024|
||£|£|£|
|Costs of charitable activities|28,831|94,306|123,137|
|Support costs|108,028|–|108,028|
||`─────────`|`────────`|`─────────`|
||136,859|94,306|231,165|
||`═════════`|`════════`|`═════════`|



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

|||Activities|||||
|---|---|---|---|---|---|---|
|||undertaken|<br>Grant funding||**Total funds**|Total fund|
|||directly|<br>of activities Support costs||**2025**|2024|
|||£|£|£|**£**|£|
||Costs of charitable||||||
||activities|280,115|<br>247,910|160,382|688,407|229,774|
||Governance costs|–|<br>–|1,386|1,386|1,391|
|||`─────────`|<br>`─────────`|`─────────`|`─────────`|`─────────`|
|||280,115|<br>247,910|161,768|689,793|231,165|
|||`═════════`|<br>`═════════`|`═════════`|`═════════`|`═════════`|
|**13.**|**Analysis of grants**||||||
||||||**2025**|2024|
||||||**£**|£|
||**Grants to institutions**||||||
||Angel Trust Coffee Shop||||179,125|–|
||**Grants to individuals**||||||
||Grants and donations to individuals and the community||||68,785|15,901|
||||||`─────────`|`────────`|
||Total grants||||247,910|15,901|
||||||`═════════`|`════════`|
|**14.**|**Net income**||||||
||Net income is stated after charging/(crediting):||||||
||||||**2025**|2024|
||||||**£**|£|
||Depreciation of tangible fixed assets||||12,460|21,845|
||Loss on disposal of fixed assets||||3,472|–|
||||||`════════`|`════════`|



**22** 



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

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

## **Year ended 30 June 2025** 

## **15. Independent examination fees** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|Fees payable to the independent examiner for:|||
|Independent examination of the financial statements|1,200<br>`═══════`|1,260<br>`═══════`|



## **16. Staff costs** 

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

||**2025**|2024|
|---|---|---|
||**£**|£|
|Wages and salaries|272,447|130,572|
|Social security costs|25,105|9,494|
|Employer contributions to pension plans|1,212|2,124|
||`─────────`|`─────────`|
||298,764|142,190|
||`═════════`|`═════════`|



The average head count of employees during the year was 16 (2024: 9). 

No employee received employee benefits of more than £60,000 during the year (2024: 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 £56,464 (2024:£44,952). 

## **17. Trustee remuneration and expenses** 

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

## **18. Tangible fixed assets** 

||Fixtures and|Motor||Kitchen||
|---|---|---|---|---|---|
||fittings|vehicles|Equipment|equipment|**Total**|
||£|£|£|£|**£**|
|**Cost**||||||
|At 1 July 2024|45,585|6,500|8,163|49,990|110,238|
|Additions|7,796|–|13,748|–|21,544|
|Disposals|–|(6,500)|–|–|(6,500)|
||`────────`|`───────`|`────────`|`────────`|`─────────`|
|**At 30 June 2025**|53,381|–|21,911|49,990|125,282|
||`════════`|`═══════`|`════════`|`════════`|`═════════`|
|**Depreciation**||||||
|At 1 July 2024|41,738|1,828|2,581|17,229|63,376|
|Charge for the year|1,660|–|2,610|8,190|12,460|
|Disposals|–|(1,828)|–|–|(1,828)|
||`────────`|`───────`|`────────`|`────────`|`─────────`|
|**At 30 June 2025**|43,398|–|5,191|25,419|74,008|
||`════════`|`═══════`|`════════`|`════════`|`═════════`|
|**Carrying amount**||||||
|**At 30 June 2025**|9,983|–|16,720|24,571|51,274|
||`════════`|`═══════`|`════════`|`════════`|`═════════`|
|At 30 June 2024|3,847|4,672|5,582|32,761|46,862|
||`════════`|`═══════`|`════════`|`════════`|`═════════`|



**23** 



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

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

## **Year ended 30 June 2025** 

## **19. Investments** 

||**Shares in**|
|---|---|
||**group**|
||**undertakings**|
||**£**|
|**Cost or valuation**||
|**At 1 July 2024 and 30 June 2025**|2|
||`════`|
|**Impairment**||
|**At 1 July 2024 and 30 June 2025**|–|
||`════`|
|**Carrying amount**||
|**At 30 June 2025**|2|
||`════`|
|At 30 June 2024|2|
||`════`|



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 2025 Angel Trust Trading Limited had capital of £1 and reserves of £12,522.  It owed £22,558 to the charity at that date. 

At 30th June 2025 Angel Trust Coffee Shop Limited had capital of £1 and negative reserves of £35,351.  It owed £77,115 to the charity at that date. 

## **20. Stocks** 

|||**2025**|2024|
|---|---|---|---|
|||**£**|£|
||Merchandise stock|5,000|3,000|
|||`═══════`|`═══════`|
|**21.**|**Debtors**|||
|||**2025**|2024|
|||**£**|£|
||Trade debtors|370|300|
||Amounts owed by group undertakings|99,673|7,291|
||Prepayments|997|5,804|
||Accrued grant income|7,125|–|
||Other debtors|2,303|52|
|||`─────────`|`────────`|
|||110,468|13,447|
|||`═════════`|`════════`|



**24** 



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

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

## **Year ended 30 June 2025** 

## **22. Creditors: amounts falling due within one year** 

|||**2025**|2024|
|---|---|---|---|
|||**£**|£|
||Bank loans and overdrafts|10,000|–|
||Trade creditors|8,618|9,847|
||Accruals and deferred income|115,718|45,855|
||Social security and other taxes|11,043|2,247|
||Wages creditor|–|10,871|
||Pension creditor|1,103|–|
||Other creditors|2,639|3,305|
|||`─────────`|`────────`|
|||149,121|72,125|
|||`═════════`|`════════`|
|**23.**|**Creditors:** **amounts falling due after more than one year**|||
|||**2025**|2024|
|||**£**|£|
||Bank loans and overdrafts|31,667|–|
|||`════════`|`════`|
|**24.**|**Deferred income**|||
|||**2025**|2024|
|||**£**|£|
||At 1 July 2024|44,008|44,303|
||Amount released to income|(44,008)|(44,303)|
||Amount deferred in year|112,508|44,008|
|||`─────────`|`────────`|
||**At 30 June 2025**|112,508|44,008|
|||`═════════`|`════════`|



Deferred income represents event income received in advance. 

## **25. 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 £1,212 (2024: £2,124). 

## **26. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**|||||||
|---|---|---|---|---|---|---|
|||At||||**At**|
||1|July 2024|Income|Expenditure|<br>**30 June 2025**||
|||£|£|£||£|
|General funds||149,361|619,952|(551,009)||<br>218,304|
|||`═════════`|`═════════`|`═════════`||<br>`═════════`|
|||At||||At|
||1|July 2023|Income|Expenditure||30 June 2024|
|||£|£|£||£|
|General funds||102,394|360,009|(313,042)||<br>149,361|
|||`═════════`|`═════════`|`═════════`||<br>`═════════`|



**25** 



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

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

## **Year ended 30 June 2025** 

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

## **Restricted funds** 

|**Restricted funds**|||||
|---|---|---|---|---|
||At|||**At**|
||1 July 2024|Income|Expenditure<br>**30 June 2025**||
||£|£|£|£|
|Point North|–|54,125|(54,125)|<br>–|
|DCC Fun & Food|–|9,260|(9,260)|<br>–|
|DCC - Admin Support|–|15,000|(7,500)|<br>7,500|
|DCC - Community Infrastructure|–|27,444|(27,444)|<br>–|
|DCC - Community Infrastructure|||||
|Volunteer Project|–|13,901|(13,901)|<br>–|
|DCC - Community Infrastructure -|||||
|Coffee Shop|–|179,125|(179,125)|<br>–|
|DPC - Mental Health Support|–|8,000|(2,000)|<br>6,000|
|Point North - Welcome Space|–|1,500|(375)|<br>1,125|
|DCC - Refurbishment|–|15,593|–|15,593|
||`────`|`─────────`|`─────────`|<br>`────────`|
||–|323,948|(293,730)|<br>30,218|
||`════`|`═════════`|`═════════`|<br>`════════`|
||At|||At|
||1 July 2023|Income|Expenditure|30 June 2024|
||£|£|£|£|
|National Lottery Community Fund|–|63,091|(63,091)|<br>–|
|Point North|–|11,773|(11,773)|<br>–|
|DCC Homeless Support|–|300|(300)|<br>–|
|DCC Fun & Food|–|4,817|(4,817)|<br>–|
|DCC Cook with Books|–|5,325|(5,325)|<br>–|
|Access Reach|–|9,000|(9,000)|<br>–|
||`────`|`────────`|`────────`|<br>`────`|
||–|94,306|(94,306)|<br>–|
||`════`|`════════`|`════════`|<br>`════`|



**26** 



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

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

## **Year ended 30 June 2025** 

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

||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2025**|
||£|£|**£**|
|Tangible fixed assets|51,274|–|51,274|
|Investments|2|–|2|
|Current assets|347,816|30,218|378,034|
|Creditors less than 1 year|(149,121)|–|(149,121)|
|Creditors greater than 1 year|(31,667)|–|(31,667)|
||`─────────`|`────────`|`─────────`|
|**Net assets**|218,304|30,218|248,522|
||`═════════`|`════════`|`═════════`|
||Unrestricted|Restricted|Total Funds|
||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)|–|(72,125)|
|Creditors greater than 1 year|–|–|–|
||`─────────`|`────`|`─────────`|
|**Net assets**|149,361|–|149,361|
||`═════════`|`════`|`═════════`|
|**Analysis of changes in net debt**||||
||||**At**|
||At 1 Jul 2024|Cash flows|**30 Jun 2025**|
||£|£|**£**|
|Cash at bank and in hand|158,175|104,391|262,566|
|Debt due within one year|–|(10,000)|<br>(10,000)|
|Debt due after one year|–|(31,667)|<br>(31,667)|
||`─────────`|`─────────`|`─────────`|
||158,175|62,724|220,899|
||`═════════`|`═════════`|`═════════`|
|**Operating lease commitments**||||
|The total future minimum lease payments under|non-cancellable operating leases are as follows:|||
|||**2025**|2024|
|||**£**|£|
|Not later than 1 year||16,291|9,600|
|Later than 1 year and not later than 5 years||37,520|25,950|
|||`────────`|`────────`|
|||53,811|35,550|
|||`════════`|`════════`|



## **28. Analysis of changes in net debt** 

## **29. Operating lease commitments** 

## **30. Related parties** 

M Boyes is a trustee of the charity. During the year he was paid £12,050 (2024 - £14,210) in respect of services provided to run the charity's events. 

K Stabler is also a trustee of the charity.  She was paid £Nil during the year (2024 - £700) for the provision of training. 

**27**