New-u Enterprises Ltd
Annual Report and Flnancial Statements
For the year ended 30 November 2024
Company Registration Number: 11697528
Charity Number: 1186761

New-u Enterprlses Limited
Annual Report and Flnandal Ststements
For the year ended 30 November 2024
Contents
Legal and administrative information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balan￿ Sheet
Notes to the flnantlal statements
8-13

New-u Enterprises Ltd
Annual Report and Flnancial Statements
For the year ended 30 November 2024
Legal and admlni5tratlve Informatlon
Cornpany Registratlon Number:
11697528
Charity Nurnber..
1186761
Chartty'$ principal address:
75 Castle Quarter
Norwich
Norfolk
NRI 3DD
Dlrectors and trustees
The dlrectors of the charitsble company (the charity) are its trustees for the purpose of charity law.
The trustees and officers serving during the year and since the year end were as follows-.
Tru5tee5:
Simeon Archer-Rand
Louise Harriet Gardiner
Rev Heather Cracknell
Robert Bradley
Julla Nix
Qeuczilla lane Harrison
Chair
Strate8i¢ Director:
Sue Buffin
Independent Examiner..
D R Chilvers ACA FCCA
For and on behalf of Johnson Holmes & Co.
Chartered Accountants
Towlers Court
30AElm Hill
Non¥ich
NR3 IHG

New-u Enterprises Ltd
Annual Report and Flnandal Statements
For the year ended 30 November 2024
Report of the Trustees
The trustees preseiit their report and financlal ststements for the year ended 30 November 2024.
Structure. governance and management.
New-u Enterprises Ltd is a charitable company limited by guarantee, incorporated at Companies
House on 26 November 2018 and registered with the Charities Commlsslon on 5 December 2019.
The names of the trustees are given on page l. New trustees are appointed following Inte￿IeW. The
Trustee Board Is advlsed by a Steering Group which conslsts of the Strategic Director, Finance Lead,
operational representative, further education representatlve, volunteer representative, referral
partner5, Customer representative and participants.
Objects and artiviti¢5
The charitable objects of New-u Enterprises Ltd are:_
l. The relief of unemployment forthe public benefit in such ways as may be thought fit, including
assistance to find employment.
2. To advance in life and help young people through providing support and activtties which
develop their skills and capabilities to enable them to participate in Society 35 mature and
responsible individuals.
3. The protection and preservation of the environment for public benefit by:
al The promotlon of textile waste reduction, re-use, re-cycllngl use of recycled products and
use of surplus
bl Advancing the educatlon of the public about aspects of waste generat5on, waste
management and waste recycling
cl The relief of financial hardship by recycling and provision of clothe5 and other household
items
A summary of the main activities undertaken by New-u Enterprise5 Ltd to achieve fc5 charitable
objects a￿..
New-u takes action to improve social mobility in unemployed people alongside environmental cause5.
We have a pa55lon for reducing textile waste whilst developing skills and experiences for long term
unemployed people with multiple barfiers to overcom8. New.U offers..
Individualised work placements in a sustainable pre-loved clothes shop, honesty book library and
upcycle sessions to improve skills and increase confidence,.
Dedicated 1-2-1 supportfollowlng a workexperience pla￿Mentfrorn one of ourtralned volunteer
mentors to achieve employability goals and next steps,.
Free clothing to people in need, Including individuals facing financlal barriers to actessing
appropriate wear forjob interviews/formal occasion5,'
Upcycle sessions open to the general public, to re-use clothing no lonEer suitable forwearing; and
Pop up events in communitie5 to enable the wider community to contribute towards a more
sustainable lifestyle

New-u Enterprises Ltd
Annual Report and Flnanclal Statements
For the year ended 30 November 2024
Report of the Trustees
New-u prides itself on being a warm. friendly and welcomlng space for service users and customers
alike in our boutique style pre-loved clothing shop in central Notwich, in the adlolning honesty bouk
library and at textile upcycle sessions in Nornich, tsomer and surroundlng areas.
Achlevements and performance
The shop in Castle Quarter Nonvich was opened in 2018 and remains the central hub for charitable
artivities.
It Is here that participants on work experien￿ begin their placements of weeks at 3 hours per
week, followed by individual mentoring sessions. Partlclpants often present with multlple and
tompleK barriers to overcome,. 80% report a disability or hidden disability. The support, tailored to an
Indlvldual'5 needs. 15 particularly important for this group of vulnerable adults to be able to recognise
their skills and evidence this to potential employers.
The primary alm of our retail unit is to create a genuine work environment in which people can learn
and grow ratherthan generate income. With 1-2-15UPPOrt from our Shop manager. participants learn
through carrying out acÈwities within the shop alongside our small, dedicated staff team and
volunteers.
We are extremely grateful to the National Lottery Reaching Communities Fund for remalning a key
funder by awarding us 3 years funding in July 2024. This funding has given us the stablllty to adapt
and innovate in rèsponse to the needs of unemployed and disadvantaged people and their
communltles. Our level of self-generated income via our shop and communlty events has remained
consistent of recent years.
Over 12,000 items of clothing and accessories were kept in circulation as wearable items in thi5
reporting period. A further 20m+ items were re-purposed within upcycle sessions led by New-u
where rnernber5 of the public meet in a safe and welcoming space to create sustainable. useful and
interesting craft items by re-purposing donated Items of clothing that are no longer fit to wear.
In Summer 2024 we introduced digital loyalty points and began swltchlng existir)g customers over to
this improved system. Over4000 happy customers have shopped in New-u this year, with and without
loyalty points.
New-u continues to work with many stakeholders and support organisations to provide clothlng to
those in need, and to offerfree smart clothing for inteNiew, or any other occasion where smart attire
is requi￿￿, direct from our No￿lth shop. We provided 120 households with vouchers to spend in
store on seasonally appropriate clothing to the value of £100 each110-20 items).

New-u Enterprlses Ltd
Annual Report and Financial Statsments
For the year ended 30 Movember 2024
Report of the Trustees
Flnanclal review
Thè charitable company's unrestrirted reseThes on 30 November 2024 We￿ £111.422. It Is our wlicy
Is to have a minimum of 6 months running costs In reseNes. We have achieved thi5 objective during
the rèporting period.
Publlc benefit ststement
The trustees have had due regard to the Charity Commission's guidance on public beneflt when
reviewing the charivs alms and objective5 and in planning its activities for the year.
They have considered how the planned activities will contribute to the aims and objectlves Set out in
the governing document. The trustees are satisfièd that the charity's activities durinE the year have
provlded identifiable benefits to the public. In line wlth its charitable purposes.
The trustees declare that they have approved the tru5tees' report above.
Signed on behalf of the charivs trustees.
Simeon Archer-Rand Ichairl
Date.. 1910812025

New-u Enterprise5 Ltd
Annual Report and Flnanclal Statements
For the year ended 30 November 2024
Independent Examiner's Report
Independent ExamineT'5 Report tp the Trustees of New-u Enterprises Ltd
I report to the charity trustees on my examinatv)n of the accounts of the charSty for the year ended
30 November 2024 which are set out on pages 6 to 13.
RespDn$lbllllles and basls of report
As the charity trustees land also its directors for the purposes of company lawl you are responsible
for the preparation of the accounts in accordancÈ with the ￿qUirementS of the Companies Act 2006
I'the 2006 Act'l.
Having satisfied myself that the accounts of the company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination. I report In respèct of my examlnatlon
of your company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l.
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 145151 Ibl of the 2011 Act.
Independent examlnerfs rtatement
I have completed my examination. I confimi that no matters have come to my attention in connectlon
with the examination giving me cause to believe that in any material respect:
accounting records were not kept in re5pert of the company as requlred by sertlon 386 of
the 2006 Act,. or
the accounts do not accord with those records,. or
the accounts do not comply with the accounting requirements of section 396 of the 2006
other than any requirement that the account5 gNe a 'true and fair view, which is not a
matter considered as part of an independent examination.. or
the accounts have not been prepared in accordance with the methods and principle5 of the
ststement of Recommended Practice for accounting and reporting by charities lapplicable
to charities prèparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 10211.
I have no concerns and have come across no other matters in connection with the examination to
which
ntion should be drawn in this report in order to enable a proper understanding of the
acco
ach
ts
D R Chilvers ACA FCCA
for and on behalf of johnson Holmes & Co.
Chartered Accountants
Towlers Court. 30A Elm Holl. Norwich. NR3 IHG
Date: 191812025

14ew-U Enterpr[￿5 Ltd
Annual Report and Flnanclal Statements
For the year ended 30 November 2024
ststement of financial Activities
Ilnduding Income aDd Expendlture Aceoum)
Note
Unre5trirted Restrlcted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Income:
Donations and legacies
Charrtable artivities
9,825
28,782
85,085
94,910
28,782
88,698
34,899
Totsl Incoming resources Igross
income In the yearl
38.607
85,085
123,692
123,597
Expenditure:
Raising funds
Charitable activities
542
35.258
542
147,956
762
162.337
112,698
Total expenditure in the year
35,800
112,698
148,498
163,099
Net Incomellexpenditure)
before tax for the year
2,807
127,613)
(24.8061
139,502)
Tax payable
Net incomel{expenditurel
127,613)
124,806)
139,5021
Transfers between funds
141,3331
41,333
other gains/{lossesl
Net movement In funds
{38.5261
13.720
124,8061
(39,5021
Re¢onciliation of fvnds
Total fund brought forward
149,948
149.948
189,450
Net movement in fund5
138,5261
13,720
124,8061
139.5021
Total funds carried forward
IIIN22
13,720
125,142
149,948
The statement of financial actiVTtie5 includes all gains and losses recogni5ed in the year.
All income and expenditure derive from contlnulng activities.
The notes on pages 8 to 13 form part of these accounts.

New-u Enterprises Ltd
Annual REport and Financial Statement5
For the year ended 30 November 2024
Balance Sheet
Note
2024
2023
Current assets
Debtors
Cash in hand and at bank
li
138,317
160,800
Total current assets
143,317
160.800
Liabilities
Credltors fall1￿ due wlthln one year
12
118,1751
110,8521
Net current assets
125,142
149,948
Total net assets
125,142
149,948
Funds of the charlty:
Unrestrirted funds
Restrlcted funds
13
111,422
13,720
149,948
Total Charity funds
125.142
149,948
The company wa5 entitled to exemption frtjm audit under 5477 of the Companies Act 2￿6 relating to
Small companles.
The members have not requlred the company to obtsin an audit in accordance with section 476 of the
Companies Act 2006.
The d1￿ctOrS acknowledge their responsibilities for complying with the requirements of the
Companies Art with respect to accounting records and the p￿ paration of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies
subjert to the Small companles reglme and in accordance wrch FRS102 SORP.
The flnaneial statements were approved by the trustees and authorised for issue on 1910812025
and are signed on their behalf by:
Simeon Archer-Rand (Chairl
The note5 on pages 8 to 13 form part of these accounts.

New-u Enterpri5e5 Ltd
Annual Report and Flnanclal Statements
For the year ended 30 November 2024
Notes to the Flnandal Statements
Accountlng pollcles
The principal accounting pollcles adopted, judgements and key sources of estimation vncertainty in
the prEparation of the financial statements are as follows..
al Basis of preparntion
The financial statements have been prepared in accordance wlth 'Accountlng and Reportlng by
Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021. ISORPI leffective January 20151, and the 'Financial Reporting Standard applicable in the UK and
Republic of Ireland, IFRS 1021.They also comply with the reporting requirements of the Companies Art
2006 and the Charities Act 2011.
New-u Enterprises Ltd meets the definition of a public benefit entr(y under FRS 102. Assets and
liabilitSes are initially recogrbised at historlcal cost or transaction value unless Otherwise stated in the
relevant accounting policy note.
bl Preparatlon of the financial statements on a iolng coneern b8sIs
It is acknowledged that the current economic climate continues to create a degree of uncertainty in
the Thlrd Sector and also in the retail sector. along with increased financlal hardship due to cost of
living pressures that potentially restrict fundraising opportunities. New-u Enterprises Ltd is however
in a strong posltlon to fulfil it5 primary aims and objertives as there are more young people who are
even further away from work and therefore our fore¢asted financial projections. which include
confirmed, substantial grants from fundlng bodles, maintains a healthy financial posltion and liquidity.
This position, allied to a good level of unrestricted resetves to help support thè financial position,
means that New-u Enterprises Ltd remains a going concern under current operating condltions.
cl Income recognhlon pollcles
Items of income are recognised and included in the financial 5tstements when all the following criteria
are met..
the charity has Èntitlement to the funds.
it Is more likely than not that the trustees will receive the resources.
the monetary value can be measured wlth sufflclent rellabllity.
dl Govemment grants
The charity has received government grants in the rèporting period.
e) Donated goods
All clothing that the shop swapslsells has been donated and has negligible realisable value due to the
customary low value of items that have been donated. It 15 not reasonably practicable to measure it5
value and therefoie is not classified as stock in hand under current assets.

New-u Enterprises Ltd
Annual Report and Flnanclal statements
For the year ended 30 November 2024
Notes to the Financlal Statements
el Donated goods contlnued
Shop fittings have mostly been donated from the fDrmer leaseholder of the shop premises and are
not recognised as assets on this basis. The fittings are largely purpose built for the premises and would
remain with the lease. once the existing lease contract is terminated by either party.
Computer equipment and shop tlll technolo￿ has only negllglble realisable value due tD its age and
condition.
n Expenditure and Ilablltties
Liabilities are recognlsed where It Is more likely than not that there is a legal or constructlve obllEatlon
committing the charity to pay out resoufft5 and the amount of the cbligation can be measured wlth
reasonable certaintv.
g} Stocks and work in progre5S
There is no certainty that any of the stock holds potential for transfer of economic benefits as it 15
there to be swappedlsold as part of charitable activities.
h) Debtors
Debtors lincluding trade debtors and loans receivable) are measured on inttial recognition at
settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they
are measured at the cash or other consideration expected to be received.
11 Creditors
The charlty has creditors which are measured at settlement amounts less any trade discounts.
Income from donatlons
Unrostrkled Re5trKted
Funds 2024
Funds 2024
2024
2023
General grants provided by government Inote 41
General grants provided by funders (note 51
500
9.325
32,7C¥J
52,385
33.200
61.710 85,698
Totsl
9,825
85,085
94,910 88,698

New-u Enterprises Ltd
Annual Report and Flnanclal Statements
For the year ended 30 November Z024
Notes to the Flnanclal Statements
Income from charitable artivities
UhfEStrirled Re5tFkted
Fund5 Z024
ds 2024
2024
2023
Fundraising
Online sales
Shop sales
Other
843
4,316
23,343
280
4,962
4,316
5,490
23,343 24,411
280
36
Total
28.782
28.782 34,899
Government grants
Unrestdcted
F￿d5 2024
RÈstricted
Funds 2024
2024
2023
Arts & Culture Fund
Focus Group
Norfolk County Council
NCC Household Support Fund
3,000
500
5(Kl
20,C(￿)
12,7C#)
20.000
12,700
Total
500
32.700
33,200
3,(M)O
General grants
Unre5trlcted Restrtted
F￿d$ 2024
Funds 2024
2024
2023
Charities Trust
Norfolk Community Fund
Big Lottery Reaching Communities
Co-op Upcycling
Norwich Freemans
Bassham Fund
Mr & Mr5 Rackham
Aviv
Bi8 Lottery Awards for All
795
10,275
43,604 72,378
2,781
4.000
2.000
500
2,245
6,580
43.604
2,781
4,000
2,￿0
500
2,245
6,580
2,250
Total
9,325
52,385
61,710 85,698
Donated goods, faclllties and Services
New-u Enterprise5 Ltd hold5 Short term li￿nCe to occupy 75 Castle Quarter, Norwich (New-u shopl
and 73 Castle Quarter, Norwich (The Honesty Library). These licences are not recognised as benefits
in kind or amort15ed as expenditure in the SOFA. Onty one month notice is required for elther partv.
Unpaid volunteers support external attrvities and events, and support service users. Volunteer
support help administer payroll and finances.
io

New-u Enterprises Ltd
Annual Report and Financial Statements
For the year ended 30 November 2024
Notes to the Flnancial Statements
Expenditure on raising funds
Unre5trirted
Restrlcted
Fund5 2024 Fur#15 2024
2024
2023
Stsging fundraising events
542
542
762
Total
542
762
Expenditure on charltable actlvities
Unresiricted
Fund5 Z024
Restrirted
Funds 2024
2024
2023
Staff salary costs (note 91
Shop runnlng costs
Other costs Ilncludinggovernance support costs)
32,464
1,817
977
101,469 133,933 135,932
5,680
7,497
5,549
6,526 17,001
Total
35,258
112.698 147,956 162337
Governance and support costs
Unre51rirted
Fundg Z014
Restrlrted
Fuhds 2024
2024
2023
Independent examinerf5 fees
475
1,505
1,980
1,980
Totsl
475
1,505
1.980
1.980
Stalf costs
Unrestrl¢ted
Funds 2024
Aestritted
Fund$ 2024
2024
2023
Salaries and wages
Social security costs
Pension costs (defined contribution scheme)
30,309
1,560
595
94,645 124,954 123,380
4,941
6,501
10,204
1,883
2,478
2,348
Total
32064
101,469 133.933 135.932
li

New-u Enterprises Ltd
Annual Report and Finan¢lal Statements
For the year ended 30 November 2024
Notes to the Flnafitlal Ststements
staff costs continued
The total amount paid to key management personnel (includes trustees and senior mana8ementl
for their seNice5 to the charity during the year was £84,72512023: £83.6571.
The average number of employees during the year was 712023.. 71.
io
Dellned contribution penslon scheme
Z024
2023
Amount of contributions recognised in the SOFA as an expense
2,478
2.348
Total
2,478
li
Debtors
2024
2023
Norfolk County Council
5,000
Total
5,000
12
Credltors- amounts falling due wlthln one year
2024
2023
Accruals
Taxation and socbal security
Deferred income
1,980
2,475
13,720
1,980
2,292
6,580
Total
18,175
10,852
Deferred Income
Certain income of the charity is contract income that is subject to performance-related conditions.
Where the income is received in advance of delivering the guods and service5 required by those
conditions, the income is accounted for as a liability and shown on the balance sheet as deferred
income. Deferre(l income is released to income in the reporting period In whlch the performance-
related or other conditions that limit recognition are met.
12

New-u Enterprfses Ltd
Annual Report and Flnanclal Statements
For ihe year ended 30 November 2024
Notes to the Flnanclal Siatements
13
Analysis of charltsble funds
Balance at I
December
Incoming
2023 re50urcès Expenditure Transfers
Balance at 30
November
2024
Unrestrirted funds
General fund
149.948
38,607
I35.8￿) 141,3331
111,422
Restrlcted funds
Norfolk County Council
NCC Household Support
Big Lottery Reachin
Communities
Co-op Upcycling
Norwich F￿ernan5
Bassham Fund
20,C
12,7LI)
43,604
115,LMJOI
112,7001
176,2171
41.333
8,720
2.781
12,7811
14.(X)01
12,0001
2.￿0
85,085
1112,6981
41,333
13,720
Totsl funds
149.948
123,692
148,498
125.142
Name offund
Descrl tlon nature and
se of the tund
Unrestrlcted funds
General fund
The 'free reserves, within the charity.
Restrlcted funds
Norfolk County Council
To support young people ta Improve maths skills.
NCC Household Support
To provlde free clothing to 120 disadvantaged families in
Norfolk.
Big Lottery Re3chlnB Communities To support unemployed young people furthest from work and
help alleviate povertv.
Co-op Upcycling
To facilitate upcycling session5 aimed at reducing textile waste
and alleviating loneliness and isolatlon.
Norwlch Freemason5
To Install and run a digital points system In the NO￿lCh shop.
Bassham Fund
External storage and contribution towards premises upgrade.
13