# **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024**
## **STREET STORAGE**
(Charitable Incorporated Organisation)
**CHARITY REGISTRATION No: 1184447**
Castle View Accounting Ltd Ground Floor Offices
53 High Street Arundel West Sussex BN18 9AJ
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **CONTENTS**
|Page 3|Legal and Administrative Information|
|---|---|
|Pages 4 to 7|Trustees' Report|
|Page 8|Statement of Financial Activities|
|Page 9|Balance Sheet|
|Pages 10 to 17|Notes to the Financial Statements|
|Page 18|Independent Examiner's Report|
2
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1184447 **DATE OF REGISTRATION** 16th July 2019 **START OF FINANCIAL YEAR** 1st August 2023 **END OF FINANCIAL YEAR** 31st July 2024 **TRUSTEES AT 31ST JULY 2024** T. DeFraine L. Quigley H. Iridag S. Eaton R. Chadha (Appointed 15th November 2023) K. Mistry (Appointed 19th March 2024) F. Sami (Appointed 27th May 2024) S. Kapoor (Resigned 30th August 2023) D. Kapur (Resigned 6th December 2023)) **LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Association Registered 16th July 2020 as Amended 3rd February 2020.
## **OBJECTS**
The prevention or relief of poverty for the public benefit among people experiencing homelessness in the UK by providing free, accessible and secure storage units for their personal belongings to be stored in.
**CORRESPONDENCE ADDRESS** 200 York Way London N7 9AX **PRIMARY BANKERS** HSBC Bank Plc. 31 Holborn London EC1N 2HR **INDEPENDENT EXAMINERS** Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
3
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST JULY 2024**
The Trustees present their report together with the Accounts for the year ended 31st July 2024.
## **Status and Administration**
Street Storage (the Charity) was founded in November 2018 and was constituted and registered as a Charitable Incorporated Organisation (CIO) by the Charity Commission on 16th July 2019 (Registered Number 1184447).
The Trustees who have served during the Charity’s second official registered year are as follows: Dipak Kapur (Chair) Rita Chadha (Chair, Acting Secretary) Harika Iridag (Treasurer) Lauren Quigley (Secretary) Thomas DeFraine Sheetal Kapoor Sharon Eaton Faizaan Sami Kiran Mistry
## **Trustee Changes**
Dipak Kapur resigned as Chair and was replaced by Rita Chadha. Sheetal Kapur resigned as a Trustee. Faizaan Sami and Kiran Mistry joined the Board as Trustees. Lauren Quigley was on leave for part of this financial period and Rita Chadha was Acting Secretary for this time.
## **Objects**
The Objects of the Charity are (as defined by the Charity Commission): The prevention or relief of poverty. This object continues to be achieved through our service that provides sleeping on the street in London with access to free and safe storage units. We remain the only charity providing this service in the UK. The Charity also provides a storage transport service, emergency (small scale) financial assistance to individuals, takes part in active campaigns for housing rights and provides in depth one to one advice, information and signposting service. The charity works alongside many local and national partner organisations, outreach teams and emergency response teams to encourage multi-agency co-operation and a greater breadth of impact for the people it serves.
## **Review of Activities**
Within this period, Trustees met on the following dates:
- 30[th] August 2023
- 27[th] September 2023
- 6[th] December 2023
- 19[th] March 2024
- 3[rd] June 2024
- Strategy Days: 25[th] and 26th January 2024
## **Our Service in 2023/2024**
Street Storage was five years old in July 2024! We celebrated with a team away day, lots of social media reflections of the past five years and a birthday tree on the walls of our offices - where people who have benefited from the service over time or been part of what we do could write thoughts, comments and birthday wishes to us. Have a look in our Annual Report for photos and some of the heartwarming comments.
_Stats_ : In this Financial Period, we had 636 total referrals. This is a 37% increase from the 22-23 financial period.
- 292 of those people stated street homelessness as their reason for referral, and 73 stated eviction.
- Out of those referred, 290 were accepted for storage (47%).
- Out of those stored during this period, 153 continue to store with us.
- 118 of these people storing have now collected their belongings, with 42% being housed
- In this period we saw both an increase in referrals from temporary accommodation and from women fleeing domestic abuse.
- On average, individuals leave their belongings for 75 days.
4
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST JULY 2024**
Please see our Annual Report for further statistics and the more human details around outcomes, stories and impact.
**Staff/Volunteers** : Aside from our Governance changes, this financial period saw Cameron Dos-Santos (our Back End Administrator) and Laura Balerdi (our Marketing Officer) leave us as well as Chris Newburn, a long standing volunteer of ours. It also saw Lilian Longhurst and Amanda Weiss join the team. Amanda joined us in August 2023 as our first ever Replication Manager – tasked with developing the Network Membership of locations wanting to set up a Street Storage service in areas across the country, as well as the documentation and commercial model needed for this work. Lilian joined in February 2024 as our Front Line Administrator, and has worked on improving our day to day facilities and operations management as well as managing our social media. Notable mentors and volunteers in this period included Geordie Fletcher, Gemma Zabbar, Martin Turner, Ralph Dunham, Mike Onita, Will Stitson and Guy Davis.
**Operational Developments** : Street Storage had planned, in late 2023, to move into a larger premises in Islington due to ongoing maintenance and capacity issues at both our St Giles and Haggerston sites. Simon Webb, our Fundraising Manager, had secured a large proportion of the funding for this move and Rachel Woolf had worked with CMS-CMNO on the legal/lease negotiations for months. This property fell through in late 2023 after much hard work, and so the majority of the financial period was then spent searching for appropriate premises – in terms of location, cost and operational need. The most significant operational development in the period therefore happened in April 2024 when we moved into our new premises in York Way, near Kings Cross. Thanks must go to Simon Webb, Aspen Insurance – our corporate partner – whose time, financial contribution and volunteer efforts during this time – made this happen and to the Clothworkers Foundation for their huge contribution via a one off capital grant. This, plus the entire staff team here who worked non-stop to move the entire operation in just a few days. The latter months of the financial period were therefore ones of ‘settling’ – setting up a whole new storage facility, creating welcoming spaces for people using the service as well as a much more appropriate working environment for our growing staff team: overall allowing everyone the time and space to get used to a new way of working. Thanks to Caroline Allouf for managing this transition on the ground with the support of Daniella Delmonte, Lilian Longhurst and Geordie our brilliant unit volunteer.
**Marketing and Comms** : We continued to build on Laura Balerdi’s work from 22/23 and develop our social media relevance, creativity and presence. Lilian’s hire has resulted in more emphasis being placed on marketing and comms as a whole. We continued to improve our impact reporting – setting up internal systems to talk about our work with the team, work with individuals and learnt how better to share these developments, this day to day work and impact externally. In addition, Caroline Allouf, our Storage and Outreach Manager implemented Team Meetings every three weeks to talk to one another about all aspects of the organisation and come together as a team to tackle challenges and learn from one another which have proven very beneficial.
**Events and Campaigns:** This year saw us undertake a whole team Strategy Day for the first time in our history – involving Trustees, Staff and Volunteers. It proved an extremely useful time for relevant information gathering and creative ideas sharing. We attended ELBA’S BoardMatch event where we secured two new Trustees, Faizaan and Kiran; took team away days to Tower Bridge and the outdoor cinema and boules alley in Kings Cross. We continued to build our relationship with both the Hertfordshire WI network and the Livery Companies across the City with funder meetings and speaking events. Rachel Woolf was filmed as part of the Stephen Lloyd Awards 10 year Anniversary and attended the annual Homelessness Commemoration Service (Nov 23) and the Cinnamon Network Leaders Retreat (Jan 24).
**Partnerships** : Notable partners in this financial period included Aspen Insurance, The Cinnamon Network, CMS-CMNO, Big Yellow Self Storage Kings Cross, CCP and The Haberdashers Company. Thanks must also go to Breathing Space HR for their pro bono support throughout the year and for their comprehensive full scale policy review of all our organisational policies in April-July 2024.
**Replication:** Excitingly, yet sadly, we began our replication into other UK locations in 2024 securing our first Network Membership with Cheltenham Borough Council and the charity CCP. Cheltenham opened their storage unit at the start of the financial period and became our first ever non-London based service. Thanks must go to Amanda Weiss (and Rachel Woolf, Guy Davis and CMS-CMNO) for the extensive work on all the licensing, documentation and relationship building behind this and to Caroline Allouf for compiling a thought-provoking training to CCP employees before launch. Cambridge (It Takes A City) is set to be our next replication unit – planned at the time of writing for January 2025.
5
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST JULY 2024**
Please see the Street Storage 2023/4 Annual Report for further details on our beneficiaries, our team, our fundraising, our supporters, our volunteer activities, our service impact and future growth plans.
## **Funding and Financial Affairs**
Street Storage is extremely grateful for the support of the following grant makers, trusts and corporate funders and to Simon Webb, Rachel Woolf and Caroline Allouf for their fundraising efforts in 2023/4: The Allan Charitable Trust, St Albans URC, Aspen Insurance, The Bentley's Advancing Life Chances Programme, Cinnamon Network, The Clothworkers' Foundation, Deloitte, The Drapers’ Charitable Fund, Emmaus Lambeth & Surrey, Frontline Network Training Fund, Fund for Human Need, The Garfield Weston Foundation, The Guild of Freemen of City of London, Hospital Saturday Fund, Islington Giving - Mind the Gap, The Linbury Trust, London Catalyst, The Manor 2053 Trust, The Postcode Society Trust, Southall Black Sisters, St Giles & St George Alms Charity, The Worshipful Company of Tobacco Pipe Makers & Tobacco Blenders, The Tudor Trust, The Worshipful Company of Needlemakers, The Worshipful Company of Environmental Cleaners, The Worshipful Company of Gold and Silver Wyre Drawers and The Worshipful Company of Curriers.
Notable individual donors in the financial period include Erik Armellino and Martin Smith and special thanks goes to Jane Smith and Mary Steele, who both donated in memory of John Hill. We would also like to thank all our individual and regular givers for supporting us so consistently throughout the year.
We would like to thank London Catalyst in this report specifically - again - for their Samaritan Grant Funding. This grant has been used throughout the financial period for emergency accommodation, transport, supplies, food and equipment for individuals. It has been life saving for some people and we have felt truly grateful for this ongoing relationship of encouragement and mutual respect.
Fundraising Activities and Individuals: Homewood Road/St Albans URC Men’s Breakfast, Jess Harrison’s London to Brighton Cycle, The Emmaus Spinathon, Jane Fawcett’s Walking Challenge, Penny Streatfeild’s Cambridge Half Marathon and Mandip Baga’s Ramadan Fundraiser. Thank you to everyone who has walked, talked, cycled, ran and raised in 2023/4!
Please see our approved accounts below for a breakdown of our income at the start and end of this financial year. We start the 2024/2025 financial period in a more humble position than in previous years, mainly due to the extensive expenditure in AprilJuly as the result of moving our entire operation from Hackney and Tottenham Court Road to Kings Cross, but also, in part due to having to grow the team to keep up with the increasing demand for our services. We hope to be able to maintain a steady stream of income to support these changes into the new financial period.
## **Reserves Policy**
The Trustees' policy is to maintain sufficient reserves to cover three months' committed expenditure. This is correct as per the Trustee meeting on 3rd June 2024. This remains in place at the end of the financial year. Our thanks again goes to Castle View Accounting Ltd for their Independent Examination of these accounts and their support in doing so, and to our Treasurer, Harika Iridag. Specific thanks must go to our Bookkeeper Lisa Mulholland who has worked extensively this year on our budget, keeping abreast of our changing expenditure requirements, bettering our financial reporting and improving the use of our accounting software.
6
srREET STORAGE
TRUSTEW REPORT Icontlm*dl
FOR THE YEAR ENDED 31ST JULY21fa4
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## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31ST JULY 2024**
|**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Charitable Activities
**3b**
Investment Income
**3c**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
Transfer Between Funds
**5**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023/24**
**2022/23**
£
£
£
£
£
133,568
-
111,077
244,645
235,672
2,029
-
-
2,029
1,615
724
-
-
724
-
**136,321**
**-**
**111,077**
**247,398**
**237,288**
182,020
-
121,392
303,412
197,504
11,539
-
4,937
16,476
12,206
**193,559**
**-**
**126,329**
**319,888**
**209,710**
**(57,238)**
**-**
**(15,252)**
**(72,490)**
**27,578**
103,691
-
51,357
155,048
127,470
(1,360)
-
1,360
-
-
**45,093**
**-**
**37,465**
**82,558**
**155,048**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 17 form part of these financial statements.
8
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## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
10
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## _**Pensions**_
Pension contributions are charged to the Statement of Financial Activities as they become payable.
## _**Unrestricted funds**_
These funds can be used for the general objectives of the charity as set out in the Trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
## _**Restricted funds**_
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
## _**Designated funds**_
These funds are funds set aside by the Trustees out of unrestricted general funds for specific purposes or projects.
## _**Fixed Assets**_
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Depreciation Expense**_
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance Basis
## **2. TANGIBLE FIXED ASSETS**
The CIO held no tangible fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st July 2024 : None 31st July 2023 : None
11
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations, Grants & Legacies**
Gift Aid
Gifts & Donations
**5**
Grants Received
**5**
**b) Charitable Activities**
Activities & Events
**c) Investment Income**
Interest|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023/24**
**2022/23**
£
£
£
£
£
1,159
-
-
1,159
993
36,909
-
5,577
42,486
26,589
95,500
-
105,500
201,000
208,090
**133,568**
**-**
**111,077**
**244,645**
**235,672**
2,029
-
-
2,029
1,615
**2,029**
**-**
**-**
**2,029**
**1,615**
724
-
-
724
-
**724**
**-**
**-**
**724**
**-**|
|---|---|
12
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **4. RESOURCES EXPENDED**
|**Note**
**a) Cost of Charitable Activities**
Activities & Events
Advertising & Publicity
**5**
Bank Charges
Cleaning Costs
**5**
Emergency Supplies Fund
**5**
Equipment Costs
**5**
Health & Safety Costs
**5**
Insurance Costs
Office Costs
**5**
Rent & Rates
**5**
Repairs & Maintenance
**5**
Service Administrator Costs
Staff Costs
**5 & 12**
Sundry Expenses
**5**
Telephone Costs
**5**
Training Costs
Travel & Subsistence
**5**
Utility Costs
**b) Governance Costs**
Independent Examiners Fees
**9**
Legal & Professional Fees
**5**|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2023/24**
**2022/23**
£
£
£
£
£
598
-
-
598
1,619
-
-
382
382
355
69
-
-
69
73
113
-
1,502
1,615
1,400
-
-
3,047
3,047
1,427
-
-
7,711
7,711
1,454
8
-
1,003
1,011
-
1,179
-
-
1,179
1,155
1,241
-
2,205
3,446
2,269
-
-
71,097
71,097
36,501
726
-
691
1,417
-
-
-
-
-
600
173,048
-
21,500
194,548
140,398
867
-
888
1,755
620
-
-
568
568
468
1,100
-
-
1,100
615
3,067
-
10,797
13,864
7,402
5
-
-
5
1,150
**182,020**
**-**
**121,392**
**303,412**
**197,504**
1,200
-
-
1,200
1,000
10,339
-
4,937
15,276
11,206
**11,539**
**-**
**4,937**
**16,476**
**12,206**|
|---|---|
13
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL YEAR**
|SpeedoMick Fund
Aspen Insurance Fund
London Catalyst Fund
Tudor Trust
Streets of London
Beatrice Laing Trust
Cripplegate Fund
Southall Black Sisters
Bentleys ALC
Clothworkers
Drapers' Charitable
Hospital Saturday Fund
St Martin in Field
Vicar's Relief Grant
Worshipful (GSWD)
Worshipful (WCEC)|**Balance**
**Balance**
**01-Aug-23**
Income
Expenditure
Transfers
**31-Jul-24**
£
£
£
£
£
1,102
-
1,102
-
-
19,849
40,000
56,097
-
3,752
1,604
1,000
2,008
-
596
1,302
-
1,158
-
144
15,000
-
15,000
-
-
5,000
-
5,000
-
-
7,500
15,000
18,300
-
4,200
-
-
1,360
1,360
-
-
500
160
-
340
-
39,500
11,542
-
27,958
-
10,000
10,000
-
-
-
850
850
-
-
-
227
227
-
-
-
1,500
1,500
-
-
-
1,000
1,000
-
-
-
1,500
1,025
-
475
**51,357**
**111,077**
**126,329**
**1,360**
**37,465**|
|---|---|
## **PREVIOUS FINANCIAL YEAR**
|SpeedoMick Fund
Aspen Insurance Fund
Magic Little Grant
Arnold Clarke Fund
Lady Neville Fund
London Catalyst Fund
LB Camden Fund
Tudor Trust
Streets of London
Beatrice Laing Trust
Haberdashers
Weavers' Fund
Cripplegate Fund
Southall Black Sisters|**Balance**
**Balance**
**01-Aug-22**
Income
Expenditure
Transfers
**31-Jul-23**
£
£
£
£
£
1,102
-
-
-
1,102
16,350
40,000
36,501
-
19,849
-
500
500
-
-
574
-
574
-
-
1,116
-
1,116
-
-
1,031
5,500
4,927
-
1,604
1,310
-
1,310
-
-
-
27,000
25,698
-
1,302
-
15,000
-
-
15,000
-
5,000
-
-
5,000
-
3,600
3,600
-
-
-
1,500
1,500
-
-
-
7,500
-
-
7,500
-
1,215
1,515
300
-
**21,483**
**106,815**
**77,241**
**300**
**51,357**|
|---|---|
Restricted funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
14
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **6. DESIGNATED FUNDS**
## **CURRENT FINANCIAL YEAR**
|Morffyd Evans Fund
Erik Aspen Fund
Bates Foundation
AE Fund
Cinnamon Network
M. Smith Fund
Cinnamon Network Fund
Leathersellers'|**Balance**
**Balance**
**01-Aug-23**
Income
Expenditure
Transfers
**31-Jul-24**
£
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**|
|---|---|
## **PREVIOUS FINANCIAL YEAR**
|Morffyd Evans Fund
Erik Aspen Fund
Bates Foundation
AE Fund
Cinnamon Network
M. Smith Fund
Cinnamon Network Fund
Leathersellers'|**Balance**
**Balance**
**01-Aug-22**
Income
Expenditure
Transfers
**31-Jul-23**
£
£
£
£
£
23,233
-
23,233
-
-
1,928
-
1,928
-
-
11,227
-
11,227
-
-
10,000
-
10,000
-
-
824
-
824
-
-
484
-
484
-
-
7,292
-
7,292
-
-
2,500
-
2,500
-
-
**57,488**
**-**
**57,488**
**-**
**-**|
|---|---|
Designated funds are wholly represented by the Charity's cash reserves and are to be expended as detailed above.
15
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **7. INVESTMENTS**
The CIO held no fixed asset investments during this or the previous financial period.
## **8. CASH AT BANK AND IN HAND**
|Cash at Bank & in Hand|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Jul-24**
**31-Jul-23**
£
£
**£**
**£**
50,275
37,465
87,740
149,185
**50,275**
**37,465**
**87,740**
**149,185**|
|---|---|
## **9. DEBTORS AND PREPAYMENTS**
|Sundry Debtors
Prepayments|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Jul-24**
**31-Jul-23**
£
£
**£**
**£**
4,110
-
4,110
3,466
1,103
-
1,103
7,872
**5,213**
**-**
**5,213**
**11,338**|
|---|---|
## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Sundry Creditors
Independent Examiners Fees|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Jul-24**
**31-Jul-23**
£
£
**£**
**£**
9,195
-
9,195
4,474
1,200
-
1,200
1,000
**10,395**
**-**
**10,395**
**5,474**|
|---|---|
## **11. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The CIO held no long term liabilities during this or the previous financial period.
## **12. NET ASSETS BETWEEN FUNDS**
|Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Jul-24**
**31-Jul-23**
£
£
£
£
-
-
-
-
45,093
37,465
82,558
155,048
-
-
-
-
**45,093**
**37,465**
**82,558**
**155,048**|
|---|---|
16
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2024**
## **13. STAFF COSTS AND NUMBERS**
|**TOTAL**
**2023/24**
£
Gross Wages, Salaries & Fees
180,734
Employer's National Insurance Costs
10,027
Pension Contributions
3,787
**194,548**
Employees who were engaged in each of the following activities:
**TOTAL**
**2023/24**
Charitable Activities
6|**TOTAL**
**2022/23**
£
126,819
10,792
2,787
**140,398**
**TOTAL**
**2022/23**
5|
|---|---|
The Charity operate a PAYE Scheme to pay all employed members of staff and the Charity also employs members of staff on a Self-Employed basis and is not liable for their Income Tax and National Insurance payments. No members of staff received emoluments of over £60,000 (2022/23:None).
## **14. TRUSTEES AND OTHER RELATED PARTIES**
No payments were made to Trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a Trustee or any person connected with them (2022/23:None).
## **15. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **16. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
## **17. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
17
## **STREET STORAGE**
(Charitable Incorporated Organisation)
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
Report to the Trustees/members of Street Storage on the accounts for the year ended 31st July 2024 set out on pages 8 to 17.
## **Respective Responsibilities of Trustees and Examiner**
The Charity's Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention
## **Basis of Independent Examiner’s Statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent Examiner's Statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 5th November 2024
18