**Charity Registered Number: 1200905** ## **Share (Portsmouth)** Annual Report and Unaudited Financial Statements for the period 03 November 2022 to 31 December 2023 **Contents for the period from 08 November 2022 to 31 December 2023** |**Contents**|| |---|---| ||**Page**| |**Reference and administrative information**|**1**| |**Trustees’ annual report**|**2**| |**Independent examiner’s report**|**8**| |**Statement of financial activities**|**10**| |**Balance sheet**|**11**| |**Notes to the financial statements**|**12**| **Reference and Administrative Information for the period from 03 November 2022 to 31 December 2023** **Charity number** 1200905 **Company number** CE030597 **Registered office** 2 Wimbledon Park Road, Southsea, PO5 2PT **Operational address** Unit 108A, Cascades Shopping Centre, Commercial Road, Portsmouth, PO1 4RP **Trustees** Clare Seek Chair from 03 November 2022 Helen Burden from 03 November 2022 Samantha Kynes from 06 March 2023 Benjamin Leverett Treasurer from 03 November 2022 Hannah Shackleton from 03 November 2022 **Principal Bankers:** The Co-Operative Bank PO Box 250, Delf House Southway, Skelmersdale, WN8 6WT **Independent** Salina Ali, FCCA, University of Portsmouth, **Examiner:** Richmond Building, Portland Street, Portsmouth, PO1 3DE Share (Portsmouth) Page 1 of 14 **Trustees’ Annual Report for the period from 03 November 2022 to 31 December 2023** ## **Message from our Chair of Trustees** Reflecting on the past 14 months fills my heart with gratitude and joy, and what a journey it’s been! 5 years previously I’d set up a Facebook group and invited people to join if they’d like to see a Repair Café in the city and wanted to help make it happen. Within 24 hours, 200 people had joined, and a few weeks later 20 people squeezed into my lounge to start making plans. Running a monthly Repair Café was rewarding and we recognised it was worthwhile, but only scratching the surface of the issue of broken things that people couldn’t find help to repair. As well as becoming involved in campaigning for the ‘Right to Repair’, and supporting other groups to set up across Hampshire and the UK, the nugget of an idea to expand the Repair Café in the city and create a Library of Things started to emerge… …the idea of Share (Portsmouth) was born. The amount of work involved in setting up a charity, raising funds, especially a Crowdfunder (if you’ve ever done one, you’ll know just what I mean), converting a retail unit, designing, and developing all the processes around launching Portsmouth Library of Things is impossible to quantify. But as they say, ‘Many hands make light work’, and the response and support from so many individuals, businesses and organisations has been amazing. Thank you…look what you’ve done! Of course, amidst all the joys of: - repairing Christmas decorations to resurrect memories of family members no longer around, - getting old tech going and retrieving photos for people, - giving old teddies back their sight, - sharing skills so people can fix their vacuum cleaners and kettles, - lending out trolleys and steam cleaners to help with rental moves and getting deposits returned, - enabling large family get-togethers with extra tables, chairs, and beds, - fixing lamps and teaching people how to hem trousers and replace zips, - running thermal imaging camera workshops to support insulating homes, we’ve also been making sure that we use the funds given to us wisely and as agreed, and the rest of this document explains what we’ve done in this first 14 months and how money has been spent. Again, thank you for all your support for Share (Portsmouth) this year. We’re looking forward to strengthening and delivering more in 2024. Clare Seek Chair of Trustees Share (Portsmouth) Page 2 of 15 **Trustees’ Annual Report for the period from 03 November 2022 to 31 December 2023** ## **Introduction** The trustees of the charity present their report with financial statements of the charity for the period from 03 November 2022 to 31 December 2023. 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). ## **Structure, Governance & Management** ## **Governing Document** The charitable incorporated organisation was registered with the Charity Commission on 03 November 2022. It is governed by a constitution, last amended on 03 November 2022. ## **Organisational Structure** The charity trustees are responsible for the general control and management of the charity. The dayto-day running of the charity is delegated to the Chair of Trustees, who supervises staff and other volunteers. New trustees are appointed after visiting the charity, being interviewed by existing trustees and attending a trustee meeting. Trustees are elected each year at the AGM and normally hold office until the following AGM but may also be co-opted onto the board until the next AGM. New trustees are provided with the constitution, previous trustee minutes, relevant policies and procedures, and an existing trustee acts as a ‘buddy’ for the first few months. ## **Objectives** _The Objects of the Charity are:_ - 1) to promote and safeguard the environment for the public benefit in Portsmouth and the surrounding area, by working to prevent and minimise waste disposal, reduce carbon emissions and raw material use through the provision and support of community resource sharing, re-use and repair initiatives. - 2) the advancement of the education of the public regarding the protection of the environment and sustainable living in Portsmouth and the surrounding area, through the sharing, repairing and re-use of products. _The Values of the Charity are:_ - a) Open - b) Kind - c) Simple ## **Activities, Achievements and Performance** Once charity status was achieved in November 2022, the next six months were taken up with securing space within Cascades Shopping Centre; securing funding to enable the charity to recruit a Volunteers & Operations Co-Ordinator; growing the volunteer team; setting up the shop space as a workable Repair Café and Library of Things base; and developing initial systems and procedures. Share (Portsmouth) Page 3 of 15 **Trustees’ Annual Report for the period from 03 November 2022 to 31 December 2023** The support from Cascades Management meant that not only did we have a space to call home, but we also furnished much of the unit with abandoned fixtures and fittings from vacant units around the centre, saving us money and reducing waste and carbon. We also gave away all the unused soft play equipment which was left in the unit to other charities for the benefit of local children, including The Roberts Centre, Hope Portsmouth and Portsea Action Group. Support from local organisations such as Portsmouth Good Gym and Package Free Larder, as well as our amazing volunteer team, meant that the unit was transformed into a safe, serviceable space with store, workshop area, kitchen, office and a welcoming ‘shop-floor’ with reception and repair space that could be transformed for workshops and events. In May we held our official launch, which was covered by the local press, and the doors to the city’s first Library of Things were opened along with the expanded Repair Café project. **Repair Café Portsmouth** is where residents can bring their broken items, sit with experienced repair volunteers and see if they can fix the item together. Items can be small household electricals and electronics, toys, clothes, jewellery, tools that need sharpening, clocks, etc. The objective is to reduce waste, raw material use and carbon, whilst saving people money, and keeping their everyday and treasured items going for longer. **Portsmouth Library of Things** is where people can become members for as little as £1 a year and borrow infrequently used items for a suggested donation, a week at a time. The library now stocks over 200 items that include: - cleaning equipment e.g. carpet washers and pressure washers - kitchen tools e.g. pasta maker and large pans - items for holidays e.g. large suitcase and child travel cots - gardening tools e.g. spades and apple presses - DIY tools e.g. drills, sanders and workbenches - hobby items e.g. guitar amps and knitting needles - event items e.g. gazebos and trestle tables - tech items e.g. thermal imaging cameras and projectors. The majority of the items are donated and enable people to borrow items they couldn’t otherwise afford, try-before-they-buy, but mainly avoid having to purchase, maintain, store and dispose of items, which not only saves money and space, but also carbon. Funding from various sources has enabled us to buy some specific items, e.g. City Greening Fund – additional gardening tools to encourage groups across the city to increase biodiversity, Alpkit Foundation – backpacking kit to help young people on Duke of Edinburgh expeditions, Octopus Renewables Infrastructure Trust – thermal imaging camera and tools to help improve insulation in homes. Share (Portsmouth) Page 4 of 15 **Trustees’ Annual Report for the period from 03 November 2022 to 31 December 2023** In the winter of 2023, we partnered with Portsmouth City Council’s Switched On Portsmouth team to acquire a second thermal imaging camera, and host workshops on how to use the camera and support residents in what to do with the information found, and highlight current funding for insulation and energy generation measures. 17 residents attended and more workshops are booked for February 2024. With funding from Virgin Media O2 & Hubbub we started **Time After Time** , an e-waste project in April 2023, which runs through to Spring 2024. The main objectives are to understand some of the barriers to Portsmouth residents in repairing, selling, donating or recycling their unused electrical and electronic items, and explore ways to encourage action from residents. The 2023 activity involved conducting research across the city and developing an online map, identifying all the organisations across the city that accept items for repair, selling, donating and recycling. The end of the year involved planning for the city’s first E-Waste Amnesty Week, which has resulted from 64% of respondents telling us they’d like to donate usable items to benefit others rather than recycling them and 50% stating that they simply never get around to doing something but might if they were prompted. We have had a lot of marketing coverage across the year, with support from BBC Solent, Express FM, Portsmouth News, Southsea Folk and Portsmouth City Council. We particularly enjoyed a collaborative session with Seekers Create who hosted a workshop in our hub, which lead to local residents inspiring our new window design. There has also been great support from the local community and organisations, not only in response to our Crowdfunder, but also with invitations to speak at meetings, attend community events and groups helping us get the word out across the city. Alongside, people constantly coming into our Hub and telling us what amazing projects we have, and ‘why aren’t there more around the country’ we have measured our impact between May and December 2023. |2,242|people visiting the hub|1,509 +|volunteer hours| |---|---|---|---| |628|items brought in for repair|215|library members| |497|items repaired (79% of items seen)|297|items borrowed| |980 kg|waste prevented through repair|£19,107|borrows saved| |6,656 kg|CO2 saved through repairing|9,934 kg|CO2 saved through borrowing| We finished the year with a nomination from local residents for our Library of Things being one of the Greenest Local Businesses of 2023, linked with a #supportlocal campaign by Portsmouth’s South MP. Share (Portsmouth) Page 5 of 15 **Trustees’ Annual Report for the period from 03 November 2022 to 31 December 2023** ## **Volunteers & Staff** It’s hard to express our thankfulness for all the work of the amazing volunteers that have supported the charity throughout the year. At the end of the period, we have 52 volunteers regularly helping to deliver the Repair Café and Library of Things sessions at the hub and community pop-up events. Alongside that we have volunteers who help behind the scenes with marketing, book-keeping, window design, sign writing, graphic design, system development and fundraising. It has been great to partner with Hive Portsmouth, the University of Portsmouth and Action Asylum to build our volunteer team this year and give opportunities for building confidence and education to a diverse range of people. In May we employed two part-time members of staff, our Volunteers Co-Ordinator who has a focus on recruiting, training and retaining volunteers, and our Operations Co-Ordinator focused on ensuring the hub runs smoothly, our stock is maintained and catalogued correctly and leads on workshops. Half of their hours each week are given over to Hub Lead roles, ensuring that we are always open Weds, Fri & Sat 10 – 1 & Thurs 1 – 4. Thanks to funding from Southampton University, we have had two interns during the year. Our summer intern helped to develop our carbon impact measurement linked with the Library of Things project, as well as developed our social media presence. Our current intern is working on marketing and expanding our library membership and repair bookings. Volunteers and staff have received a range of training across the year, including First Aid and PAT. ## **Financial Review** The results for the year and the company’s financial position at the end of the year are shown in the attached financial statements. Total incoming resources for the year were £106,078. Net incoming resources were £36,755. Reserves at 31[st] December 2023 were £36,755, including £12,182 restricted) ## **Risk Management** Financial sustainability and the charity’s financial model remain a key risk, given its dependency on grant income. Having identified the basic core team and associated costs that are needed to operate the charity, income generation focusses on securing funding for this; with additional project specific expenditure, including associated staffing costs, only committed once funding has been secured. The financial position is kept under scrutiny, through regular management accounts, cashflow forecast and monitoring of the charity’s pipeline of potential and actual grant/funding applications. Ensuring the wellbeing of a small team to deliver a significant workload is also a key area on the board’s agenda. A risk log for the projects and hub is continuously reviewed and mitigations put in place as available, such as insurance cover, DBS check, PAT and training. Share (Portsmouth) Page 6 of 15 **Trustees’ Annual Report for the period from 03 November 2022 to 31 December 2023** ## **Reserves Policy** The trustees recognise the value and importance of having reserves in place and aims to increase Share (Portsmouth)’s reserves to the equivalent of 6 months of operating costs. At 31[st] December 2023, free reserves amounted to £24,573. Our forecast expenditure for 2024 plans is £55,000 and given the majority of the charity’s funds come from grants, this requires ongoing work to ensure appropriate reserves. ## **Principal Funding Sources** The charity’s main source of income is grant funding, with additional income coming from donations for repairs, donations and membership to the Library of Things, regular donors and Gift Aid. ## **Environmental Impact** Environmental sustainability is at the heart of our charity, and whether making decisions at a trustee meeting or in day-to-day matters, we constantly have the planet sitting at the table to recognise our impact and continually look to learn from others on how to improve and reduce our environmental impact. ## **Plans for the Future** The focus for 2024 is predominantly to build on the start that has been made in 2023. Time will be spent improving what we have started and increasing awareness and engagement with residents across the city, to build membership of the Library of Things and Repair Café usage. We will be gathering input from those that don’t yet use the Library of Things or Repair Café, to see if changes and developments are needed to expand its accessibility. We will look to work more with young people across our city, to increase aspirations around repairing, sharing and environmental sustainability: - developing our work with the University of Portsmouth and Portsmouth Student Union - engaging with a local school as a pilot project. We intend to maintain our existing connections with local community groups, businesses and the Council and are wanting to improve our links with the Royal Navy and Refugee and Asylum Seeker groups in the city, to specifically connect with more skilled volunteers, especially those with electrical and electronic practical skills. ## **Declaration** The Trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees: |Signature|______________________|______________________| |---|---|---| |Name|Clare Seek|Hannah Shackleton| |Position|Chair of Trustees|Trustee| |Date|Saturday 13thApril 2024|Saturday 13thApril 2024| Share (Portsmouth) Page 7 of 15 **Independent Examiner’s Report to the Trustees for the period from 03 November 2022 to 31 December 2023** Share (Portsmouth) Page 8 of 15 **Independent Examiner’s Report to the Trustees for the period from 03 November 2022 to 31 December 2023** Share (Portsmouth) Page 9 of 15 **Statement of Financial Activities for the period from 03 November 2022 to 31 December 2023** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD FROM 03 NOVEMBER 2022 TO 31 DECEMBER 2023** |**Notes**
**Income**
Donations and Legacies
Donated Goods and Services
3
Grants received
**Expenditure**
Cost of Raising Funds
Charitable Activities
**Net Income/(Expenditure)**
**Total Funds Carried Forward**|**Unrestricted**
**Funds**
**£**
24,574
28,947
2,500
56,021
473
30,975
31,448
24,573
24,573|**Restricted**
**Funds**
**£**
0
0
50,057
50,057
2,892
34,983
37,875
12,182
12,182|**Total**
**Funds**
**£**
24,574
28,947
52,557
106,078
3,365
65,958
69,323
36,755
36,755| |---|---|---|---| Share (Portsmouth) Page 10 of 15 **Balance Sheet for the period from 03 November 2022 to 31 December 2023** ## **BALANCE SHEET AS AT 31 DECEMBER 2023** |**Notes**
**Current Assets**
Debtors
**5**
Cash at bank and in hand
**Creditors**
Amounts falling due within one year
**6**
**Net Current Assets**
**FUNDS**
**7**
Unrestricted
Restricted
**TOTAL FUNDS**|**Unrestricted**
**Funds**
**£**
507
24,066
24,573
0
0
24,573|**Restricted**
**Funds**
**£**
2,300
10,006
12,306
124
124
12,182|**Total**
**Funds**
**£**
2,807
34,072| |---|---|---|---| ||||36,879| ||||124| ||||124| ||||| ||||36,755| ||||24,573
12,182| ||||36,755| The financial statements were approved by the Board of Trustees and authorised for issue on Saturday 13[th] April 2024 and signed on its behalf by: -------------------------------------------- Clare Seek Share (Portsmouth) Page 11 of 15 **Notes to the Financial Activities for the period from 03 November 2022 to 31 December 2023** ## **NOTES TO THE FINANCIAL ACTIVITIES FOR THE PERIOD FROM 03 NOVEMBER 2022 TO 31 DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 01 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historic 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 reliably measured. ## **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 costs relating to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund Accounting** Unrestricted funds can be used in accordance with the charitable activities at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. TRUSTEES’ REMUNERATION AND BENEFITS** There were no trustees’ remuneration or other benefits for the period ended 31 December 2023. ## **Trustees’ Expenses** There were no trustees’ expenses paid for the period ended 31 December 2023. Share (Portsmouth) Page 12 of 15 **Notes to the Financial Activities for the period from 03 November 2022 to 31 December 2023** ## **3. DONATED GOODS AND SERVICES** |Rent
Rates - Mandatory
Rates - PCC Discretionary
MyTurn
Three Rings
Microsoft
AlpKit Foundation - Voucher|**£**
18,500
8,554
1,069
220
95
259
250| |---|---| ||28,947| The Independent Examination was also provided free by the University of Portsmouth. ## **4. STAFF COSTS** Total staff costs were comprised: |Wages and Salaries
Social Security Costs
Pension Costs|**£**
20,432
0
80| |---|---| ||20,512| No employees have total benefits over £60k for this charity. The charity operates a defined contribution workplace pension scheme for staff. The funds paying the pension scheme contributions this year came from specific restricted grants. The average number of full-time equivalent employees during the year was 0.4. ## **5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Deposits
Accrued Income
Prepayments|**£**
100
2,300
407| |---|---| ||2,807| Share (Portsmouth) Page 13 of 15 **Notes to the Financial Activities for the period from 03 November 2022 to 31 December 2023** ## **6. CREDITOR: AMOUNTS FALLING DUE WITHIN ONE YEAR** ## **£** Accruals 124 124 ## **7. MOVEMENT IN FUNDS** |**Unrestricted funds**
**Restricted Funds**
CIL
Lush
Awards for All
Portsmouth Lottery
Postcode Lottery
City Greening
Southampton University
Time after Time e-waste
ORIT
**Total**|**Income**
**£**
56,021
56,021
2,900
5,000
10,000
1,000
14,190
1,867
4,600
9,000
1,500
50,057
106,078|**Expenditure**
**£**
31,448
31,448
2,900
3,413
8,809
1,000
11,188
1,713
2,655
5,167
1,030
37,875
69,323|**Transfers**
**£**
0
0
0
0
0
0
0
0
0
0
0
0
0|**Balance as at**
**31-Dec-23**
**£**
24,573| |---|---|---|---|---| |||||24,573
0
1,587
1,191
0
3,002
154
1,945
3,833
470| |||||12,182| |||||36,755| **CIL** – Portsmouth City Council’s Community Infrastructure Levy, was match funding linked to the Crowdfunder run in February. The funds were restricted to the fit-out of the unit and tools for use by repair volunteers and co-repairers within the Repair Café project. **Lush** –Charity Pot funding used to support the launch of our hub and costs that others were less inclined to support, such as utilities and systems. **Awards for All** – National Lottery funding which has been key in enabling us to employ our Operations Co-Ordinator this year to develop all our new systems and ensure the smooth running of the hub, as well as providing funding for volunteer training and expenses. Share (Portsmouth) Page 14 of 15 **Notes to the Financial Activities for the period from 03 November 2022 to 31 December 2023** **Portsmouth Lottery** - enabling us to increase our Library of Things stock to support people impacted by the cost-of-living crisis. **Postcode Lottery** – funding for core costs and was key in funding our Volunteers Co-Ordinator; enabling us to build our volunteer team to deliver our projects that reduce waste, carbon emissions and raw material use, alongside saving people money. **City Greening Fund** – a Portsmouth City Council fund specifically focused on increasing our Library items that help community groups and individuals across the city improve biodiversity. **Southampton University** – funding for interns. During the summer we employed a Sustainability Projects Intern who improved our reporting on carbon emissions saved and our social media marketing. This past autumn we employed a Sustainability Marketing Intern who is now focused on developing our social media presence further, as well as working on other areas of marketing, and will be in post until Spring 2024. **Time After Time E-waste Fund** – provided by Virgin Media O2 and Hubbub, which is for a specific project aimed at understanding why residents hold onto electrical and electronic waste and has developed a map of places around the city for repairing, selling, donating, and recycling e-waste. The project continues into next year and will include the city’s first e-waste amnesty week. **ORIT** – Octopus Renewables Infrastructure Trust funding which supported the increase of tools and costs relating to improving home insulation to residents’ homes, e.g. a Thermal Imaging Camera. Share (Portsmouth) Page 15 of 15