HH Treasurer’s report - 2023
Current account balances as at 31.12.2023 (year end 2022)
NatWest £0 (£12,531.88) Metro £4,957.09 (£29,273.98) Metro deposit £15,139.35 (£0) United Trust Bank £20,000 (£0) SumUp £5,981.14 (£0) Paypal £5 (£100.40) Cash £7.08 (£2,577.58) Total £46,089.66 (£44,483.84)
This report is for the financial year 2023 to be approved by the trustees following independent examination. The cash basis of accounting has been used in the preparation of these accounts.
The charity helps those in urgent need in Cornwall to make a new home and a fresh start with recycled household items from the local community. The charity derives most of its income from donations by individuals and corporate bodies, grants from local government and the sale of donated items at fundraising events and from its warehouses.
The charity has seen an increased demand for its services, helping 551 families in 2023.
Income
The total income for the charity was £47,038 compared with £33,159 in 2022, an increase of 42%. The increased income was flattered by a crowdfunding event at the beginning of the year which raised £10,217. The charity registered for gift aid and received £2,916 from donations in 2022 and 2021 that were eligible. With higher interest rates available the charity put cash reserves on deposit with Metro bank and on a 40 day notice account with United Trust bank.
Expenditure
Total expenditure by the charity in 2023 was £45,433 compared with £29,096 in 2022. This has been primarily due to increases in warehousing following the rental of further storage facilities and purchases of carpet tiles to give to clients being rehoused into homes with no floorcoverings. The charity also has to pay for increased costs of fuel for deliveries and vehicle repairs and higher wage costs due to increased workloads.
Net income / deficit for the charity
The charity has had an increase of income over expenditure of £1,605.
Restricted funds
The charity holds £1,738 in restricted funds compared to £10,308 stated in 2022.
Financial outlook
The charity is reaching the end of its third year post-transition to a charitable incorporated organisation and its income and expenditure are stable with a good reserve. Expenditure on carpet tiles is likely to be significantly less in 2024 following corporate donations of end-of-line tiles. However, the charity’s 11 year old delivery van, which is the main means of receiving and delivering goods to resettled families, is showing signs of age by becoming unreliable and the charity’s reserves will need to be drawn upon to purchase a newer vehicle. The increased demand on the charity’s services in 2023 is likely to continue into 2024 and the charity has positioned itself to cope with extra demand by taking on short term leases on additional storage facilities at the site. Both the increased warehousing costs and purchase of a newer vehicle are likely to significantly reduce the charity’s reserves unless additional fundraising can offset these costs.
CHARITY COMMISSION FOR ENGLAND ANO WALES Hldden Help Receipts and payments accounts CC16a For the pericd from To 1st Januar 2023 1st De¢ember Section A Receipts and payments Unrestricted funds Restrided funds En¢Jowment funds Total funds Last swr to the nearest to the nearest£ to the nwr$t£ to Ihe n&Yest É 10 the nvarst £ A1 Recelpts tM)nations Fundraising Cha[itae shop $•ks Grants Qift Aid refLnd Inlorest 12.313 16.382 9,409 3.750 2,916 139 12,343 18.382 10.560 15,$42 6,957 2,100 5,8 2.916 139 Sub total (Gross income for ARJ 4<9J9 2,100 47,039 3¥.169 A2 Asset and investment sales, Isee table). Sub total 44,939 2,100 47,039 33,169 A3 Payments Donated goods storag9 0XPOWO$ Premise5 repair5 Oirert purchasès forclients Salaries Bank & card fees Insurancè Repairs & &drnin sundnos E¢1City, jnlorD81& tèlophtsnè Vohid¢ njnnirva costs 18,066 12.989 36 3.479 6.562 J42 11.646 338 657 1,030 704 5.486 4A433 704 4.362 29.096 Sub total A4 Asset and investment purchases, (see table) Sub total Tolal payments 45,433 45.433 Z9,098 Net of rÈceipts/(pawnents) AS Transfers between funds A6 Cash funds last year ènd Cash funds this year end 2,100 362 4,063 362 40,421 44,352 1,738 46,090 CCXX R1 accounts ISSI 19D4r2024
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetar assets B3 Investment assets B4 Assets retained for the charity's own use BS Liabilities Signed by one or two trustees on behalf of all the trustees |
Details I Book aooooots Ttal cash funds (agree blances with recipts and payment acount(s)) Details Details Details Details Signature |
Unrestricte funds to nearest£ |
Unrestricte funds to nearest£ |
|---|---|---|---|
| 4,352 | |||
| . | |||
| . 4,352 c· Unrestricte funds to nearest£ |
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| Fund to which I asset beongs Fund to which bl **assete ongs ** |
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| Fund to which liabilit relates |
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CCXX R2 accounts (SS)
19/04/2024
2
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Hidden Help On accounts for the year ended 31" December 2023 Charity no (if any) 1193305 Set out on pages Two I report to the trustees on my examination of the accounts of the above charity {"the Trusv) for the year ended Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ("the Acri I report in respect of my examination of the Trust's accounts carried out under section 145 ofthe 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Charity Comrnission under section 145{5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention ( ") in connection with the examination which gives me cause to believe that in. any material respect.. accounting records were not kept in accordance wth sectron 130 of the Acl or the accounts do not accord with the accounting records Independent examinerfs statement I have no concerns and have come across no other matters in connecti¢ with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. ' Please delet8 the wo s in the brackets if they do not apply. Signed: Date: Name: Malcolm Heard Relevant professional qualification(s) or body lif any): FAIA Address: 33 Trevose Close Trevaunance Parc St Agn8s Cormall TR5 OSN IER October 2018
Section B Disclosure Only complete iflhe examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give he brief details of any items that the examinerwishes to disclose. IER October 2018