2024-04-05-accounts - Share Frome

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Trustees’ annual report (including Directors’ report) for the period

From: 6/04/20230

To: 05/04/2024

Charity name: SHARE Frome

Charity registration number: 1198691

Company number: n/a

Objectives and activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	SHARE Frome Library of Things is here to provide services and education to people in Frome and the surrounding areas which will allow them to live more sustainable lives, helping to protect our planet and work towards a circular economy in Frome.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	SERVICES ● Library of Things borrowing service ● Donations for sale (finding new homes for items to keep them from landfill) EDUCATION ● Window displays, social media promotions, attendance at events, community collaborations
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees of SHARE Frome have read and confirmed understanding of the Charity Commissions guidance on 'public benefit' as detailed on the government website at the links below. The Public Benefit Requirement (PB1) Public Benefit: running a charity (PB2) Public Benefit: reporting (PB3)

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	n/a
Policy on social investment including program related investment	Para 1.38	n/a

Contribution made by volunteers	Para 1.38	● Our volunteers help us to repair our library items to extend the life of that item and keep it from landfill. They also help us to check the items when they are returned to make sure they are in good working order ready to be borrowed by the next person. ● The volunteers who help us with these to key elements of our service volunteer from between 1-4hrs per week in the shop or between 1-12hrs per week from home. This depends on how busy we are.
Other		n/a

Achievements and performance

Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	For the Period 06/04/2023 - 05/04/2024 there were: ● 835 people who borrowed items ● 2699 instances of people borrowing ● 3858 total borrows across 693 different items ● £`19,5345`Total item value (cost if every borrow were a different person) ● £`141,790`value of new purchases avoided (taking into account repeat borrows by the same person) £38,382 was spent on borrowing items in this period so in total we saved our borrowers an estimated minimum of £103,408 by them borrowing and not buying. MATERIAL FOOTPRINT ●`131704.45`total kg (estimated) of new material use avoided (per unique borrower of each item), of which: o`18679.53`kg (estimated) of Fossil Fuel use avoided o`14223.45`kg (estimated) of Biomass use avoided o`10984.26`kg (estimated) of Metallic Ore use avoided o`87817.21`kg (estimated) of Non Metallic Mineral use avoided These estimates show an average increase in new materials saved, over 21% year on year

at over 23,000kg of additional materials saved. https://observablehq.com/@sharefrome/reduced _material_footprint_impact

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	As a young charity, refining procedures and processes is still underway. Key objective is still to evolve our core activities to cover our running costs.
Performance of fundraising activities against objectives set	Para 1.41	We continued to focus on fundraising through channels we were familiar with and where we knew we would have most success. Unrestricted funds - Growth of activity in our library of things Restricted funds – Grant fund applications to local council and Somerset based funds that had supported us in the past.
Investment performance against objectives	Para 1.41	n/a
Other		n/a

Financial review

Review of the charity’s financial position at the end of the period	Para 1.21	£5236 in reserves (unrestricted) £2000 (restricted) £15925.21 (unrestricted income)
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	It was decided that as of 6thApril 2023 we would hold £9400 in reserves. Building up to 6 months worth of running costs as reserves as the Charity Commission recommends.
Amount of reserves held	Para 1.22	£9400 (unrestricted)
Reasons for holding zero reserves	Para 1.22	n/a
Details of fund materially in deficit	Para 1.24	n/a
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	There remains a risk around our current premises as we don’t have a notice period, so we are at risk of the owner selling. We need to build reserves to cover potential movement of premises. Deliver Operational activity(over and above the literal activity of running the library of things) Deliver Marketing activity(needed to remind our users of our services and help our sustainable income to grow.) We will need to continue to seek funding or volunteer time to deliver these two things so that SHARE Library of Things can comply with necessary legislations and grow our library of things income to improve the services that we offer to the general public.

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	Unrestricted funds -Library of things Service, Donated Items Sold, Sponsorship Restricted funds –Grant fund applications to local council and Somerset based funds that had supported us in the past.
Investment policy and objectives including any	Para 1.46	n/a

social investment policy adopted
A description of the principal risks facing the charity	Para 1.46	n/a
Other		n/a

Structure, governance and management

Description of charity’s trusts:
Type of governing document:	Para 1.25	Articles of Association
How is the charity constituted?	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	At SHARE our trustees elect new trustees with the advice of the Marketing and Operations Manager. A majority vote is taken to elect new trustees and also to elect the Head of Trustees.

Additional information (optional)

You may choose to include further statements where relevant about:


Policies and procedures adopted for the induction and training of trustees	Para 1.51	If we are considering electing a trustee we ask them to read and confirm they have understood the following: 1. The Charity Commissions guidance on being a trustee. 2. The current ‘SHARE Frome’s Strategy’ document Further training in the responsibilities of a trustee is offered via sources like Somerset Learning Partnership, Somerset Council and Frome Town Council. We have also trained our trustees in Safeguarding.
The charity’s organisational structure and any wider network with which the charity works.	Para 1.51	● Trustees ● Marketing & Operations Manager (reports to trustees) ●Library of Things Assistants x 2 (reports to Marketing & Operations Manager)

			●	Volunteers (report into staff member
				present)
Relationship with any related parties	Para	1.51	n/a
Other			n/a

Reference and administrative details

Charity name	SHARE Frome
Other name the charity uses	SHARE Frome Library of Things
Registered charitynumber	1198691
Charity’s principal address	3a The Bridge, Frome, BA11 1AR

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year Name of person (or body entitled to appoint trustee (if any)
Anne Hills	n/a	n/a
Andrew Jones	n/a	n/a
Frances Krige	n/a	n/a
William Gunby	n/a	n/a
Juliet Solomon	n/a	01/04/2023 - 02/04/2024 n/a

Corporate trustees–names of the directors at the date the report was approved	Corporate trustees–names of the directors at the date the report was approved
Director name	n/a

Name of trustees holding title to property belonging to the charity

Trustee name n/a

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	n/a
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	n/a
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	n/a

Additional information (optional)

Names and addresses of advisers (optional information)

Type of adviser Name Address Name of chief executive or names of senior staff members (optional information) Jessica Gardiner (Marketing & Operations Manager)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

n/a

Other optional information

n/a

Declarations

The trustees declare that they have approved the trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/directors

Signature(s)

Full name(s) Anne Hills William Gunby Position (for example Head of Trustees Trustee Secretary, Chair, etc) Date 01/04/2025 01/04/2025

	Share Frome	Share Frome	Share Frome	1198691
	For the period from	4/6/2023	To	4/5/2024

Section A Receipts and payments

Section A Receipts and payments
A1 Receipts Share Libraryof Things Takings 22,133 Sponsorships and donations 856 Sale of donated items 1,095 Grants /funding - Bank Interest - - - - 24,084 - - Sub total - Total receipts 24,084 A3 Payments Refund 73 Pettycash adj 16 Stock repair & maintenance 145 Stock Consumables 198 Marketing 82 Staff Costs-Wages 24,548 ShopCosts 2,707 IT cost/ subscriptions 286 Utilities 1,193 Legal/professional 1,500 Payroll 396 Loan Repayments 1,536 Sub total 32,680 Stock replacement 109 Shopcosts(assets) - Sub total 109 Total payments 32,789 Net of receipts/(payments) - 8,705 A5 Transfers between funds - A6 Cash funds last year end - Cash funds this year end - 8,705 Unrestricted funds to the nearest £ *Sub total*(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table)	to the nearest £ - - - 14,731 - - - - 14,731 - - - 14,731 - - - - - - - - - - - - - - 14,731 - - 14,731 Restricted funds	to the nearest £ Endowment funds	Total funds to the nearest £ 22,133 856 1,095 14,731 - - - - 38,815 - - - 38,815 73 16 145 198 82 24,548 2,707 286 1,193 1,500 396 1,536 32,680 109 - 109 32,789 6,026 - - 6,026	Last year to the nearest £
		- - - - - - - - -	22,133	11,828
			856	21,382
			1,095	842
			14,731	5,500
			-	69
			-	-
			-	-
			-	-
			38,815	39,621

		- - -	-
			-	-
			-	-

		-		39,621
		- - - - - - - - -
			73	23
			16	-
			145	167
			198	70
			82	335
			24,548	16,180
			2,707	269
			286	212
			1,193	624
			1,500	265 252 1,992
			396
			1,536
		-	32,680	20,389

		- - -	109	28
			-	50
			109	50

		-	32,789	20,439

	14,731	- - - -	6,026	19,182
	-		-	-
	-		-	-
	14,731		6,026	19,182

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees	Details Reserves Remaining funds Details Details Details Assets in our Library of things Assets used for operations Details Signature Anne Hills Frances Krige *Total cash funds* (agree balances with receipts and payments account(s)) Loan Payments owed to Somerset ~~community foundation~~	to nearest £ to nearest £ 9,487 - 15,686 - - - 25,173 - Agreement Error Agreement Error to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) 4,906 1,620 - - - - - - - 7515 - - - - - Print Name Anne Hills Frances Krige Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional)	to nearest £ Endowment funds
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			OK
			to nearest £ Endowment funds
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			Current value (optional)
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			When due (optional)






			Date of approval
	Anne Hills	Anne Hills	4/1/2025
	Frances Krige	Frances Krige	4/1/2025

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiners Report Report to the trustees Share Frome On accounts for the year ended 5 April 2024 Charity no (if any) 1198691 Set out on pag I report to the trustees on my examination of the accounts of the above harity for the year ended 5 April 2023. Responsibilities and basis of report As the charily's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145151(bl of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination 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 ofthe accounts to be reached. Signed: 17 March 25 ela Martin Relevant professlonal qualification{s) or body {if any): AAT4 qualified member in practice of Instrtule ofAccountants and bookkeepers & AAT Address: The Round House 233 Fairlee Road Newport Isle of Wight Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charty accounts: directions and guidance for examiners). IER Oct 2018

Give here brief delails of any items that the examiner wishes to disclose. Report to the Truslees The charity is eligible to have an independent examination as its turnover exceeded the £25,000 threshold but was below £250,000 and does not require an audit. It is not a parent charity, or part of a group of charities. There is no requirement in the governan or by reason of turnover for an audit to be carried out. l am independent of the charity, so no conflict of interest arises, I have a background as a HMRC investigator. I have established that there was no requirement for accruals basis accounts to be prepared by reference to the charitable organisation's governance document. The charity has opted to prepare accounts on a reiptS and payments basis under section 133 of the Charities Act 2011. Methodology, Populate quickbooks online with the bank transactions and data recorded in the spreadsheet provided. Compare the income and outgoings by reference to the banking and other linked accounts such as Zettle et¢. Review the accumulated data and how it feeds into the report. Produce report on QBO to verify that the report figures are consistent with the accounting records, with no material differences. I confirm that the accounting records are kept to the required standard The accounts are Gonsistent with the accounting records with no significant differences. There is nothing to disclose. There was no requirement to prepare accounts on an accruals basis. Charity law requires the examiner's report to comment on three specific things.. the accounting records kept, whether the accounts agree with those records, and whether the format of the accounts is correct. The examiner should also comment on the accounls if they have other COnrn$ about them. Accounting records kept- I found there to be a comprehensive record of income, outgoings, assets and liabilities. The records are maintained on an ex1 templale. It is recommended to use an accountancy package to avoid errors. Whether the accounts agreed with those records- I was able to confirm that the summarised records agree with the accounts. Format of the accounts is correct - I have established that this is correct. Concerns- There were some small errors but overall the accounts were accurate and presented in a professional manner, based on the previous year's template. IER Oct 2018