Charity re9i5tralion nunibe¥.' 1198400 The Clothing Bank CIO Report and Accounts 5th April 2025 The Clothing Bank CIO Report and accounts Contents Page Company information Trusiees. RÈw>rt Independent Examiner's Report Slaiemenls of Iinancial ac1m￿S Balance sheet io The Clothlng Bank CIO Company Information Charlty Name The Clothing Bank Charity Règistration Number 1198400 Chair Eleanor Banks Trustees Heaiher Smilh Amy Mackte Siftcla EFeanctr Banks Sophie Elsvlorth Principle Offi¢e The Clothrng Bank Rwersicale(I trt villages. towrts and olles acr055 the region. Strong partnerships were fornied with 43 organisations io accp.pl referrals - Including schools. colÈeges. ur4versilEs. hcspitals. famlly servsces. so¢￿1 ser¥I￿S. h¢usinglhornelessness. prisons. lood kitchens. unrform banks and care home5. 6 in 10 packs We￿ ser¢t to ch"Id￿n INing in poverty. We purchased our own porfotio ol dolhing bins for people to donale into. We own. empty and reuse the suilable ¢k)thing inSKle 10 holp others. Flnancial rnview What is your policy on reserve57 Pollcy Objectlvè$ Maintsin financ￿1 SEabihiy and the atMINy lo meet oblp3alKJns during periods ol uncerlanty ￿ f￿anCIal smrtfall. Eiisure sufftcient reserves are avalable to aldress unforeseen events or en)er9ei)cies. Support str8fegi¢ gr￿￿h 8nd fthure opportunrfies alwJned with our charf(able objectives. Uphold tr￿sparenCY and acrAJuntabiffity In fm3ncial mafjagemenl and reporting. This policy will be revtewed annualty. monitored throughout the year, an(J pubk'shed in Ihe Trusiees Annual Report and on our websrte Msnimum Reserves The Clothing Bank wtll hokj mit71mum reserves sufficient io cover lour mofflhs runi)rng cosls- equivalenl lo the costs ol wnding up the charity and meeling all obligabons lo staff. creditors. and seNicÈ ijsers in full. If ¥eserves 1211 bekjw 20% of this msnimum Ihfeshold. Trustees will impfemenl a detailed Monitr￿ng and managemenl pFan lo reslore rtrsancial siabikiy. Maximum Reserves The maximum reserves held wtll noi exceed the equivalenl of SIK monihs. charity èxpenditure. plus a reserve lo support planrTred devèEopm8nt QPPtNtunilte5. 11 reserves exceed Ihis maximum. Trusiees ivill develop and impfemenl an action plan 10 allocate surpltjs Ivnds iowafd Iuflhwing OLtr charitable obieclives. Purpose of Reseryes Reserves aTe relained for Ihe lollthvfflg reasons." 1. Emergency Funding". To *Jdress urhloreseerb emerg￿￿*S or unexpected expenses. such as urgenl repairs Of unplanned proiecls. 2. Operatlonal Stabiltty= To cover (Jay-l04ay operalional costs durirvJ peri¢)ds of income fluctijation. ensurjng contmuily ol sèrvice. 3. Strategic Opportunilies: To Invesl in oPp￿unIl￿ ihat further otjf chariiabte objectives, suth as pilot proiects or capauty-building initiatives. 4. In¢orne Shortfalls.. To manage rseriods ol trwne un¢ertainty. all(wrfing time 10 secure alternabve funding or adjust expendilure. S. Cash Flow Manag•ment'. To cover tHning differen￿5 beEween income receipls and expenditure commftmenls. Developing and Monitorlng the Rèserves Policy The Clothing Bank develops aTrJ monilors its reserves pob.cy in aligftrrieni with Charity Commi55ion guicsance IAnnex 11. Truslees bwll cons￿ler.. Forecasted income and expenditure_ including the relobilrty ol fijnding sources and plans lo diversrfy income Si￿arn$. Identified iisks. commitments. and opportunities requiring lundiw. Polenkn"al Iinanctal shortfalls and imp8cI on operations. The nalure ol ivnds hekl. incluL1ry unrestricied. deswaled. reslfi¢ted fvnds. Trtsslees will ensLtrre.' Rese￿e$ largeis a￿ regularly revithyed based on ojrrenl and antscipated financial need3. Any sKJnificani iJewalK)n Irc#m target reserves leveLs is addressed wilh appropnale aclion. Clear explanal￿nS are provided any shortrall or stsrpljs. including steps lo bring ieserve5 in line Wlh targets. Annual Reportlng The Trusiees. Annual Report will include.. The Reserves Polcy slalemenl. The level ol reserves hekd at the rewrting dale and an explanalion ol why these afe Delaits ol designaied lunds, Including th•r puipose and Inlendell use. Plans lof 8ddressin9 any shortfau or SLKPtus refative to feserves taryets. Reporting will comply with the charib.es Stslemenl of Recommended Ptacb"ce ISORPI IFRS 1021 and Oiher relevant fegulalions_ Inv8Sting Reserve$ When reserves are hekl lor extended perio(Js. Ihe TrLrslees will ev*uaie r>PPOrtunilies to invest these funds lo geneiale a fmafi¢ial relum. Tnvestmeni deasx)ns will conS￿er.. The expecied liming of fulure ieserye requirements. The Ipjuidity ol polential inveslmenis to ensure lunds be accessed whe needed. Acceptable levels ol investrnent risk. aliJned with ￿ charity's financial and ethical values. Inveslmenls will be reviewed regularly Io ￿Ure Ihey remain alwjned wilh The CkAhityJ Bank's finar¥cial Siraiegy and oblwalions. Conclusion The Trustees of The Clolhing Bank are comnmtted to mainiatning an approprlaie level ol reserves to secure the charily's f¢nanc441 health enable us lo continue meeling our chanlable objeciives. Reserves will be held and managwj tn a Iranspatent. accounlabte manner. ensuring Ihe charily's sustahiabrfily and c4)8cily to respond lo tx)Ih challenges and opportunilEs. Cash fl¢>w risk The charity s acliwlies exposufe to cashfknv ri8ks is minirrkgl as expenijitwe on charilable ac)vilies Is only Incurred whon liqu#1 funds are al￿adY available. Credlt risk The charity's prFncipal f5naneial assets ￿ bat)k balances. The credrt risk on liqusd ftjnds Is liniiled becaus8 the Gounlerparties afe banks with MwJh credrt-ralings ￿soned by 1nlern8t￿nÈl crettil.rating agencies. The chèrity has no signifie3nt concentralÉon oleredil rtsk. wilh exposuré spread ovèf a lar9e oumber of counlerparlies and cuslomets_ Statement of Tru$tegs' Responsibilities The Iruslees are responsible for prepariTrJ the trustees. rep￿ and ihe flnanoal staiements a¢Wrdan￿ with the United Kingdom Accountsng Siandards (United Kinglom Generally Accepted Accounting Practicel and applicable lèw and regulalK)ns. The law applicable lo charil¥es ￿qUtreS th8 trusiees lo prepare finanual ststements for each f4nanc?al year which give a ifue and lair view of the state of affairs ol the tharity and of the inconing resources and application of resourc￿$ of Ihe charELy for thai period. In p￿pan￿9 ihesÈ financial $taieryEnls. the trvsiees are reouired io". sÈlec( Suit￿￿8 accfjunling pohcies and then apply I￿rn consistenlty". observe the meihod5 and principles n the Charities SORP.. make jut1gements and estlmaies Ihal are rea$0￿ble arml prud8nl- state whether ap￿ICable accountirg slandard5 have been foxowed. Sl￿le¢[ to any rnaierial departures disclosed and eX￿ained ir7 the financtal staiernents.. and prepare the fFnancsal st8iefneftts on Ihe going concern basvs unless sl is inappropriate to p￿5￿me thal th¢ tharily will ctsiitinue In bu5ff￿$. The Irvslees are rèsponsible lor keepiThJ proper acctyjnb.ng records thal disclose with rea50nablo accuracy al any lime the fmancral position ol the chairty and er*ab￿ them lo ensure Ihat Ihe financi81 slaiemenis comply with Ihe Charilies Aci 201 l. the Charities IAccwnls and Reports) R¢gulalions 2008. and the prowsions ol the consiilulioF7. The trusiee5 are respOns￿le lor safeguarding Ihe assets ol the chafjly and hence lor taking reasonab￿ sietss (or the orevenlion and deteclioTr of fraud and other irregU￿NIes. The annual report was approved by the Iruslees ol the charity on i& behalf by.. 2025 and stgnefj on ils Eleanor Banks Chaimian and Trusiee The Clothlng Bank CIO R¢gistration number 1198440 Independent ExamlneT'S report to the Irustges of the Clothing Bank CIO I report lo the trusiees on my examnation of the a￿UnIS of The Clothrng Bank CIO for Ihe year endod 5 April 2025. RÈsponsibi1st5¢5 and basis of report As the charity tr￿le&s$ ol The Ck)Ihing Bank CIO YOL¢ are responsible loi the preparalion ol the accounts in 3ccordancc with the requirements ol ihe Chaflties Acl 20111.lhe A¢t'}. I report in respect of my examinatson of the Clothing Bank CIO'S accounls Carr￿ cyjl under seclion 145 of the 2011 Acl and in carrying my eXaminal￿n I have l¢knd all the apptuble Directions given by Ihe Charity CommiSsh￿ unde¥ section 14515llbl ol the Act. Independent examiner's statemant I have completed my examination. I confimi thai no malellal mallers have come lo rTiy allenlion In ¢onne¢lDn wilh the examination giving ffle cause lo belleve ihal in any material respecl-. ac¢ounliro records were noi kept in respect ol The Ck)thing Bank CIO as required by secltOFt 130 ol the Act." or 2. Ihe accounls (kj noi Jcccyd wth those records. I have no ¢oncerns and have come across no other matter5 In connection wilh the exaTnH)ation io wh+ch allenl*on should be dfaym in this Yeporl m order lo enable a proper underslandir¥J of ihe ac¢ounis lo be reached. Thomas Gieen FMAAT Green1rneAc￿Un1antS and Tax Adwsors 1 Top Fam Court Bawty Doncaster DN10 6TF Dale.. 1411112025 The Clothing Bank CIO Registration Number 1198400 Receipts and Payments AGcount forlhe year Ended 5 April 2025 Unre$trictèd Funds Re$trict8d Funds Total 2025 Receipts Donat￿nS 115.6ff2 5.211 120.873 Grant5 and subsidies 19.958 38. 129 Sales 10.229 10.229 Total reeeipls 144.062 25.169 769.231 Paymenls Purchases 19.981 2.888 22.869 EqL+ipment Bins Insurance 10.150 10,150 490 490 Molot expenses 8.079 11.079 Light and Heal 1.400 1,400 PAYE 15.178 15.178 Soflware 306 306 Professional lees 3.672 3.672 Plarforrn lees 942 942 Poslage 3.733 717 3.850 Stalionery and printirrfJ Repairs anol rnainlenance 708 708 319 95 414 Sun¢Yry 987 987 Telephone 1.310 1.310 rravel 771 177 10 Adverlising SLtrbconlracior cosls 43 43 900 900 Other stair c951s 128 128 Wages and salanes 31.214 19.958 51.172 Total Expenditure Net receIpt￿{payMentS) 1.511 Reconciliation of funds Adjusletl Funds Brought lo¥waid 79.227 5.345 84.572 Total funds carried forward 124.178 71 The Clothing Bank CIO Re9lStration number 1198400 Slalement of Assets and Liabilitbes a5 at S April 2025 2025 Fixed Assets Buldrys Equiprnenl 28.265 3.000 Vehicles 28.000 Cash Funds Bank Account I 100.335 Bank ActOLSnl 2 30.699 131.034 Liabilltles MRC PAYE The tharity has not gwen any guarat)iees FM)r has any oulslanding rjebts secured on Ihe assets ol Ihg charity. The Receipts and Payments A¢covnl and Slalervenl olA5se approved by the trLsiees. and authorised for Issue on behalf by.. s a￿] Li**ilities on pages 6 10 7 were 2025 ant1 signe(J on Iheir Eleanor BaTrks Chairman and Trustee 12