OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-06-30-accounts

Trustees Report 2024/2025

We have had a good year in 24/25 having succeeded in getting £21,000 in grants which has helped us tremendously with sustaining our charity.

Amongst our achievements for the last year are,

Providing and fixing security fencing for the Boston woods trust.

Making a Guess who board for the Lincs Wildlife Trust.

Making Self Build Bird Boxes for LCVS.

Designing and building a summer house for Thistles Learning centre.

We refurbished the Flag pole and base for Boston Customs house.

We refurbished a Phone box, stripping it then painting it and turning it into a library for Bratoft Parish Council.

Bug hotels made and placed in Boston public parks for Boston Borough Council.

We made Seed boxes and planters out of refurbished wood for Haven high Academy.

We replaced the rotten wood on three picnic tables and benches for Tom at the Community gardens Boston.

One of our members very kindly donated a Defibrillator to the charity which is on the circuit website for locals who may need it.

We will continue to get more involved in the community this upcoming year as we feel this is an important aspect of what the charity is about.

Our plans for this coming year are as follows, Because of our success we need to take on a new unit so that we may take on more members. We have a waiting list to join us and our current space isn’t sufficiently safe to take on more members. This is something that we have in hand to do.

We have already introduced an additional day, opening up on Fridays currently as a quiet day, so we now open up three days a week.

Our challenges ahead are to gain more funding to keep us afloat as we currently haven’t received any funding so far this year. Especially now with the plan to take on an additional unit.

We also have decided that we want to get more involved in the community by helping other charities, community groups and the general public.

So plenty of work still to do, but we will achieve our aims moving forward.

Boston Men’s Shed Charity Number: 1208972

Statement of Financial Activities

1[st] July 2024 – 30[th] June 2025

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Unrestricted Restricted Total
Funds Funds 2025
£ £ £
Income and Endowments
from:
Donations and legacies 4,454 4,454
Charitable activities 5,199 18,000 23,209
Other trading activities 85 85
Investment Income 69 69
Total Income 9,807 18,000 27,807
Expenditure on:
Charitable Activities (6,291) (6,158) (12,449)
Total Expenditure (6,291) (6,158) (12,449)
Net Income /
(Expenditure)		 3,516 11,842 15,368
Reconciliation of funds
Total funds brought forward 1,442 - 1,442
Total funds carried forward 4,958 11,842 16,800

All of the charitable activities derive from continual operations. The above financial activities reflect the first year of operation as a registered charity and therefore no figures are available for 2024 for comparison.

Boston Men’s Shed Charity registration number: 1208972

Boston Men’s Shed

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

~ 0 ~

Boston Men’s Shed

Contents

Reference and Administration 2
Independent Examination Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to Financial Statement 6-10

~ 1 ~

Boston Men’s Shed

Reference and Administration

Trustees John Mould Ian Johnstone Stephen Appleyard Charity registration Number 1208972 Registered Ofice 6 Lealand Way Boston Lincolnshire PE21 7SW Independent Examiner Jody Raggo MAAT 22 Paddock Grove Boston Lincolnshire PE21 8QL

~ 2 ~

Independent Examiner's Report to the trustees of Boston Men’s Shed ('the Charity')

Independent examiner’s report to the trustees of Boston Men’s Shed ('the Charity') I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2025.

Responsibilities and basis of report

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’) and the Charities Statement of Recommended Practice (‘SORP’).

Having satisfied myself that the accounts of the Charity 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 that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by the SORP;

or

  1. the accounts do not accord with those records; or

  2. 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.

Mr. Jody Raggo MAAT

Date: 04/10/2025

~ 3 ~

Boston Men’s Shed Charity Number: 1208972

Statement of Financial Activities

1 st July 2024 – 30 th June 2025

(Including Income and Expenditure Account and Statement of Total Recognised Gains

and Losses)
Notes Unrestricted Restricted Total
Funds Funds 2025
£ £ £
Income and Endowments
from:
Donations and legacies 2 4,454 4,454
Charitable activities 3 15,199 8,000 23,199
Other trading activities 4 85 85
Investment Income 5 69 69
Total Income 19,807 8,000 27,807
Expenditure on:
Charitable Activities 6 (8,076) (4,373) (12,449)
Total Expenditure (8,076) (4,373) (12,449)
Net Income /
(Expenditure)		 11,731 3,627 15,368
Reconciliation of funds
Total funds brought
forward		 1,442 - 1,442
Total funds carried
forward		 13,173 3,627 16,800

All of the charitable activities derive from continual operations. The above financial activities reflect the first year of operation as a registered charity and therefore no figures are available for 2024 for comparison.

~ 4 ~

Boston Men’s Shed Charity Number: 1208972

Balance Sheet as at 30 June 2025

Notes
Current Assets
Cash at bank and in hand
7
Net Current Assets
Net Assets
Funds of the charity:
8
Restricted Income Funds
Restricted Funds
Unrestricted Income Funds
Unrestricted Funds
Total Funds		 2025
£
16,800
16,800
16,800
3,627
13,173
16,800

For the financial year ending 30 June 2025, the charity was entitled to exemption from audit and have produced these accounts on a cash basis.

These financial statements were prepared in line with the Charities Statement of Recommended Practice (SORP).

The financial statements on pages 6 to 10 were approved by the trustees and authorised for issue on …………………… and signed on their behalf by:

…………………………..

Name: …………………

Trustee

~ 5 ~

Boston Men’s Shed

Notes to the Financial Statements for the Year Ended 30 June 2025

1. Accounting policies

Summary of signifcant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019)(Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Basis of preparation

Boston Men’s Shed meets the definition of a public benefit entity under FRS 102. These accounts have been prepared on a Cash Basis.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Exemption from preparing a cash fow statement

Under the exemption available to smaller charities, the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or

~ 6 ~

the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fxed assets

Individual fixed assets costing £750.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other shortterm highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

~ 7 ~

Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2. Income from donations and legacies

Donations and legacies:
-
Donations from individuals
Grants
-
Grants from other charities		 Unrestricted Funds (£)
Total 2025 (£)
2,454
2,454
2,000
2,000
4,454
4,454

3. Income from charitable activities

Grant – National
Lottery
Grant – BNA
Sales of Products
Memberships
Refreshments Fund
Sundry Income
Refunds		 Unrestricted Funds
(£)
Restricted
funds (£)
Total 2025
(£)
8,000
8,000
10,000
10,000
3,927
3,927
225
225
496
496
507
507
44
44
15,199
8,000
23,199

4. Income from other trading activities

Unrestricted Funds Restricted Total 2025
(£) funds (£) (£)
Fundraising Income 85 - 85

~ 8 ~

5. Investment Income

Unrestricted Restricted Total 2025
Funds (£) funds (£) (£)
Interest receivable and similar
income; Interest receivable on bank
deposits 69 - 69

6. Expenditure on Charitable Activities

Rent
Utilities
Insurance
Clothing
Maintenance
Fuel
Xmas Meal
Sundries
Refreshments
IT / Website
Materials
Phone
Supplies / Equipment		 Unrestricted Funds
(£)
Restricted
funds (£)
Total 2025
(£)
-
2,905
2,813
88
495
583
19
67
86
377
377
75
75
100
100
60
60
15
15
31
176
207
79
79
3,250
3,250
120
120
3,862
730
4,592
8,076
4,373
12,449

7. Cash and cash equivalents

Cash at bank Total 2025
(£)
16,800

~ 9 ~

8. Funds

Unrestricted Funds
General
BNA Grant
Total Unrestricted
Funds
Restricted Funds
National Lottery
Grant
Total Restricted
Funds
Total Funds		 Balance
at 1 July
2024
Incoming
resources (£)
Resources
expended
(£)
Transfers
(£)
Balance at
30 June
2025
1,442
9,807
6,199
-
4,958
-
10,000
1,877
8,123
1,442
19,807
8,076
13,173
-
8,000
4,373
-
3,627
-
8,000
4,373
-
3,627
1,442
27,807
12,449
16,800

The specific purposes for which the funds are applied for are as follows:

9. Taxation

The charity is a registered charity and is therefore exempt from taxation.

10. Trustee Remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

11 Related party transactions

There were no related party transactions in the year

~ 10 ~