REGISTERED COMPANY NUMBER: CE028706 (England and Wales) REGISTERED CHARITY NUMBER: 1198392
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
BUDGET CLOTHING AND A HELPING HAND
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
BUDGET CLOTHING AND A HELPING HAND
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 8 |
BUDGET CLOTHING AND A HELPING HAND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objective of the charity is to provide budget clothing for needy people.
Significant activities
The charity was dormant during the year.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activities. The aims of the charity for the public benefit are detailed in the Objectives and Activities section of the report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document. a constitution and constitutes a charity incorporated organisation
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE028706 (England and Wales)
Registered Charity number
1198392
Registered office
249 West Green Road London N15 5ED
Trustees
S Blonder P Spitzer B Weinberg
Independent Examiner
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 30 January 2026 and signed on its behalf by:
S Blonder - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUDGET CLOTHING AND A HELPING HAND
Independent examiner's report to the trustees of BUDGET CLOTHING AND A HELPING HAND ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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 respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 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 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Malcolm Venitt
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
30 January 2026
Page 2
BUDGET CLOTHING AND A HELPING HAND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31.3.25 | 31.3.24 | |||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 7,223 | - | ||
| Other trading activities | 2 | 82,266 | - | |
| Investment income | 3 | 12 | - | |
| Total | 89,501 | - | ||
| EXPENDITURE ON | ||||
| Raising funds | 4 | 68,620 | - | |
| Other | 1,440 | - | ||
| Total | 70,060 | - | ||
| NET INCOME | 19,441 | - | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | - | - | ||
| TOTAL FUNDS CARRIED FORWARD | 19,441 | - |
The notes form part of these financial statements
Page 3
BUDGET CLOTHING AND A HELPING HAND
BALANCE SHEET 31 MARCH 2025
| 31.3.25 Unrestricted fund Notes £ CURRENT ASSETS Stocks 7 334,656 Debtors 8 49,273 Cash at bank 603,488 987,417 CREDITORS Amounts falling due within one year 9 (968,044) NET CURRENT ASSETS 19,373 TOTAL ASSETS LESS CURRENT LIABILITIES 19,373 NET ASSETS 19,373 FUNDS 10 Unrestricted funds 19,373 TOTAL FUNDS 19,373 |
31.3.24 Total funds £ - - - |
|---|---|
| - - |
|
| - | |
| - | |
| - | |
| - | |
| - |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 4
BUDGET CLOTHING AND A HELPING HAND
BALANCE SHEET - continued 31 MARCH 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2026 and were signed on its behalf by:
S Blonder - Trustee
P Spitzer - Trustee
B Weinberg - Trustee
The notes form part of these financial statements
Page 5
BUDGET CLOTHING AND A HELPING HAND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | |||
|---|---|---|---|---|
| 31.3.25 | 31.3.24 | |||
| £ | £ | |||
| Shop income | 82,266 | - | ||
| 3. | INVESTMENT INCOME | |||
| 31.3.25 | 31.3.24 | |||
| £ | £ | |||
| Deposit account interest | 12 | - |
Page 6
continued...
BUDGET CLOTHING AND A HELPING HAND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
4. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | |||
|---|---|---|---|
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Support costs | 68 | - |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| NET INCOME TOTAL FUNDS CARRIED FORWARD STOCKS Stocks DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors VAT |
31.3.25 £ 334,656 31.3.25 £ 3,391 45,882 49,273 |
Total funds £ - - 31.3.24 £ - 31.3.24 £ - - - |
|---|---|---|
7. STOCKS
8.
continued...
Page 7
BUDGET CLOTHING AND A HELPING HAND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors Creditors MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund - TOTAL FUNDS - Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 89,501 TOTAL FUNDS 89,501 |
31.3.25 31.3.24 £ £ 254,644 - 660,000 - 53,400 - 968,044 - Net movement At in funds 31.3.25 £ £ 19,373 19,373 19,373 19,373 Resources Movement expended in funds £ £ (70,128) 19,373 (70,128) 19,373 |
|---|---|
10. MOVEMENT IN FUNDS
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 8