Registered number 1198400 The Clothing Bank CIO Report and Accounts 5th April 2024 The Clothing Bank CIO Report and accounts Contents Page Company infofmalion Trustee5' Report Independent Examinerfs Report Statement of financial activities (reciepts and payments accounts) statement of assets and lia￿.1{tIeS **The Clothing Bank CIO** ## **Company Information** **Charity Name** The Clothing Bank **Charity Registration Number** 1198400 **Chair** Sean Smith **Trustees** Sean Smith Zak Hustwaite Amy Sinclaire Eleanor Banks Sophie Bryan **Principle Office** The Clothing Bank Riverside B Low Street Brotherton WF11 9HQ **independent Examiner** Greenline Accountants and Tax Advisors Ltd 1 Top Street Top Farm Court Bawtry Doncaster DN10 6TF 3 ## **The Clothing Bank CIO Trustees' Report** ## **Trustees Annual Report** ## **The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2024.** A heartfelt thank you to everyone who supported The Clothing Bank in 2023- 2024. Whether you volunteered your time or expertise, collected pre-loved clothing, made a donation or gift in kind, set yourself a fundraising challenge, or helped to raise awareness. We are grateful for your shared passion, overwhelming generosity and community spirit. ## **Objectives and activities** ## _**Objectives and aims**_ The object of the CIO is to relieve poverty by providing clothing to those in need in particular through the operation of a clothing bank. Our charity recycles clothing and provides each referred individual with a 7 day pack including clothing, coats, shoes, new underwear, pyjamas and hygiene essentials. ## _**Public Benefit**_ We believe everyone deserves the right to have good quality clothing which enables people to: - Be accepted - Build confidence - Move forwards with their lives - Secure paid employment - Improve their quality of life and achieve their potential ## _**Achievements and performance**_ The Clothing Bank helped a total of 7675 people clothing packs and hygiene packs throughout Yorkshire and the UK. The charity established 158 volunteer drop-off points located in villages, towns and cities across the region. Strong partnerships were formed with 48 organizations to accept referrals - including schools, colleges, universities, hospitals, family services, social services, housing/homelessness, prisons, food kitchens, uniform banks and care homes support groups and local elderly groups. 6 in 1 O packs were sent to children living in poverty. ## _**Financial Performance**_ Very positive year, increase in donations allowing us to build infratructure to increase clothing pack ## _**Policy on reserves**_ The trustees currently aim to keep reserves at an equivalent of 6 months running costs. However the policy is to be considered during the year with the aim of adopting a formal policy ## **Trustees and officers** The trustees and offices serving during the year and since the year end were as follows: 4 Trustees.. Sean Smith Zak Hushyarte Amy Sinclaire Eleanor Banks Sophie E15WOrth Sean Smith Chairman.. Nature of goveming document The charity is a charÈtable incorporate(f organisation and is govemed by tts constitution. Recwftment and appointment of tntstees Tru5tee5 are appointed by the existing trustees. The constitution requires the charity to have a minimum of three tnJstees. Organlsatlonal strn¢ture The trustees meet when required, usually fourtimes a year. and make all decisions for the charity. Financial instruments NIA Objectives and policiès The charity's activities expose it to a number of financial risks including credit risk and Cash flow risk. The charity does nol use derivative financial instruments for speculative purposes. Cash flow rlsk The charity's 2Ctivities exposure lo cashflow risks ts minimal as experEditure on ch21it8ble adiv¥ties is only incurred when liquid funds are already available. Credit risk The charity's prifi￿paI financial assets are bank balances. The credit risk on liquid funds is limited because the counterparties are banks wth h￿h credil-ratings asS￿ned by inlem81ional credrt-rating agencies. The chartty has no significant concentration of credrt risk, with exposure spread over a large number of oiunterparties and customers. statement of Trnstee$' Responsibilities The Iruslees a￿ responsible fof preparing the Iruslees. report and the financial statements in aCCo￿ance with the Unrted Kingdom Accounting Slandatds (United Kingdom Generally Accepted Accounting PrACtice) and applicatAe law and regulations. The law applicable to charities requires the trustees lo prepare finanaal statements for each financial year which give a Iwe and fair view of the stale of affairs of the charity and of the incorning resources and application of resources of the charity fof that peric*J. In preparing these financial statements, the trustees a￿ required lo.. • select suitable accounting policies and then ap￿Y them consistently- observe the methods and principles in the Charities SORP", ake jltdgements and estimates that are reasonable and prudent", state whether applicable accounting standards have been followed, sufy'ect to any material departures disclosed and explained in the financial statements." a￿1 prepare the financial statements on the going coneEm basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accoynling recorrjs Ihat disdose with reasonable accuracy al any time the financial posf(ion of the charity and enable them to ensure that the financial statements ¢OFnply with the Charities Act 2011. the Charrties (Accounts and Reports) Regulation5 2008, and the provisions of the constitution. The trustees are also responsible for s8feguafding the assets of Ihe charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report W8s approved by the Irustees of the charity on 19 NOVem￿r 2024 and signed on its behalf by.. Sean Smith Chaim)an and Tw*ee The Clothing Bank CIO Independent Examinorf$ Report 20 the trustees of The Clothing Bank CIO I report to the trustees on my examinatson of the accounts of The Clothing Bank CIO foi the year ended 5 April 2024. Responsibilities and basis of report As the Charity trustees of The Clothing Bank CIO you are sesKK)nsible for the preparation of the accounts in accordance wth the reguirements ol the Charities Act 2011 1.tf>e Acri. I report in respect ol my examination of the Clothing Bank CIO'S accounts carried out under secti()n 145 of the 2011 Act and In carrying out my examination I have followed all the applical￿e Directions gNen by the Charity Commission under section 14515llbl of the Act. Indepèndent examiner's Statement I have completed my examination I confimi that no material matters have ¢OTne lo my attention in connection ith the examination giving me cause to believe that In any matenal respect.. 1. ac¢ounling records were not kept in respect ol The Clothing Bank CIO as Tequired by section 130 of the Act". or 2 the accounts do not a¢¢ord wth those records I have no concems and have come across no other matters in connection with the examination to which attention should be draN%m In this report in order io en8￿e a proper understanding of the accounts to be reached. Thomas Green FMAAT Greenline Accountants and Tax knisors 1 Top Farm Court Bawtry Doncaster DN10 6TF Date.. 19111r2024 The Clothing Bank CIO Receipts and Payments Accounts for the year Ended 5 April 2024 Unrestrided Restricted Funds Funds 2024 2024 Total 2024 Receipt$ Donations Grants and subsidies Sales 117,685 117.685 18,307 7,397 18,307 7.397 Total receipts 125,082 18,307 143,389 Payments Assets for use in charity Office Costs Equipment expensed Expenses Purchases Equipment Hire Insurance Motor expenses Light and Heat PAYE Rent Software Professional fees Charilaile donations Stationery and printing Repairs and mAinlenance Sundry Telephone Travel Advertising Subcontractor costs Wages and salaries 28.265 28,265 3,000 3.0 2,962 2,962 1.170 965 6.665 1,000 7,826 1,919 510 1.025 336 4,386 7,027 1,584 1.352 22 888 645 42,174 1,170 965 6,665 1,000 7,826 1,919 510 1,025 336 4,386 7,027 1,584 1.352 22 888 645 29,829 12,345 Total Expenditure 95.414 18,307 113,721 Net receiptsllpayments) 29,668 Reconciltation of funds Total funds ￿OUght foryffird 47,778 47,778 Total funds carried forward 77.446 77,446 The Clothing Bank CIO Registration number 1198400 Statement of Assets and Liabilities as at S April 2024 2024 Assets for use in the charity Buildings Equipment 28,265 3.0(N) 31.265 Cash Funds Bank Account 1 Bank Account 2 73,343 4,103 77.446 Liabilities HMRC PAYE {813} The ch2rtly has not given any guaranlees nor has any outstarKling debts seC￿red on the assets of the charity. The Receipts and Payments Account and Statement of Assets and Liabiltties on pages 8 to 9 were approved by the ttustees, and authorised for issue on 19 November 2024 and signed on their behalf by.. Sean Smith Chaimi8n 2nd T￿￿tee