Charity registratlon number NIC 101072 Company registration number N1628614 (Northem Ireland) STOREHOUSE NORTH DOWN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 STOREHOUSE NORTH DOWN LEGALAND ADMINISTRATIVE INFORMATION Trustegs Margaret Grace Colville Bailie Pauline Rebecca Hare Hugh Patrick Mccart Brendan Mccrory Valerie Margaret Miskimmon MBE James McKnight Gary Rodgers Jennifer Waugh (Appointed 2 Sept6mber 2024) (Appoint8d 2 September 2024) (Appointed 2 September 2024) Charlty numb•r NIC 101072 Company number N1628614 Registered offlce 12 BallooAvenue Bangor County Down BT19 7QT Independent •x•mln•r Harbinson Mulholland Centrepoint 24 Omieau Avenue B81fast Co. Antrim Northem Ireland BT2 8HS STOREHOUSE NORTH DOWN CONTENTS Page Trustees, report Independent examinerfs report statement of financial activities Balance sheet Notes to the financial Statements 8-14 STOREHOUSE NORTH DOWN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 The Truslees present their annual report and financial statements for the year ended 31 January 2024. The Trustees, who are the directors for the purposes of company law, present their annual report together with Ihe financial statem8nts of Storehouse North Down for the year to 31 January 2024. SinrE the Charity qualifies 8s small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Dir8dols Report) Regulations 2013 is not required. Objecllves and actlvltles Storehouse North Down (the Charity) is a registered charity and is structured as company limited by guarantee registered on 12th January 2015. The Charity's goveming document is its Memorandum and Articles of Association. The principal objectives of the Charity are contained in the Memorandum and are as follows., a) to relieve Sickness, financial hardship and poverty and to promote and preseni8 good health by the provision of funds, goods or services of any kind, including but not by way of limitation through the provision of efflergen food packages in such parts of North Down and Donaghadee, Northern Ireland or the wcrfd as the Trustees see fit; b) lo benefit the residents of North Down and Donaghadee or such parts of Northern Ireland or the world without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and local authorities, volunlary and other organisations in a cornmon effort to advance education and lo provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditians of life for the residents. In this reporting period the Trustees have focused on the relief of food poverty by the provision of emergency food packages in such parts of North Down and the surrounding area a5 the trustees from time to time see frt. It is the aim of the Charity that no one in North Down should go hungry. Storehouse North Down commenced a¢tlvity In November 2012. All reportlng from that date to 11 January 2015 was done through Storehouse Belfast accounts. STOREHOUSE NORTH DOWN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Mana ement The Chairperson and the Manager of the Charity report to Ihe trustees, who meet on a regular basis. The Charity works by referrals from recognised agencies both statutory and voluntary, community workers, and church personnel. Our manager continues to have strong links with other foodbanks in the area. local council, community officers, press and businesses in the area and reports back to the trustees on meetings with such bodies. We are represented on the Ards and North Down Forum on poverty and on North Down Community Network Board. ort from the communi We are really appreciative of the support we have in the local community. Again over 50 churches continue to support us either weekly or monthly . Many businesses support us including Sainsbury's ,the Eurospars in our area , the local Cowop, Tesco and Asda. Marks & Spencer continue lo give us their surplus bread, fruit etc. These have been well received by our clients. We also have contacts with local farmers and are able lo supply fresh vegetables when in season. These with meat from local butchers mean that our clients are able to make nutritious meals. The schools in North Down have harvest and Christmas collections and youth organisations also support us. Indeed before Christmas many businesses hold fund raising days. The support is oVe￿helmIng and enables us to fulfil all the requesls we have for hampers at Christmas lime. We are a150 thankful for the financial support we receive as this enables us to to buy items we are short of . We have set up a hardship fvnd to hélp support agencies whose dients are struggling with fuel poverty and purchase of essential items. The Hygiene Bank continues to 8UPPOrt us and this is greatly appreciated. ntee The charity is run by a board of Trustees and 8 very enthusiastic and dedicated group of volunteers under Management team and supported by our Chairperson Each new volunteer is given an induction pack and is kept up to date on all health and safety procedures. Most of our volunteers 8re retired and so are in the vulnerable age group . We continued to operate with the support of a small number of our volunle8rs. They have been fantastic. We owe a great debt of gratitude lo our volunteers, who are mostly senior citizens, for their dedication. We continue to operate 8$ we dld during COVID having found that thls works very well and safeguards our volunteers. Ham There ha5 been little change in the economic situation but we have found that although there is continued rise in prices of utilities, increase in the price of groceries and dothing, there has been a decrease in the requests for hamper5. This is due to increased monetary sUPPOrt from the government and extra help set up in the community. Indeed we have seen a wide variatson in nurnbers of requests in the week5 the clients have received this grant fram the government . However the requests for large family harnpers has increased. The monthly value of the hampers (including meat vouchers) given out is approximately £10,900 plus fresh food. Although we have seen a decrease in donations of groceries we have seen an increase in financial donations. We thank God for his faithfulness in providin9 everything that we have needed. Indeed we have found that the more we gave out the more came in. This year the total number of hampers given out (not including Christmas) was 1,438. The total value of the hampers given out this year with meat vouchers was approximately £140.400. We have helped 3,508 people in the last year. We also gave oul 434 hampers at Christrnas to the value of £24,275 induding meat vouchers helping 1.181 people. We feel that with a new govemment there will be more food povety, cutting of grants increase in fuel costs and the Cutting of the winter fuel allowance5 that there will be an increase in the requests for food hampers. STOREHOUSE NORTH DOWN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Golng concem After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they Gontinue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Financlal revlew The income for the period was £184,962 and our expenditure was £196,516. Our assets comprise food stocks amount to £30,701 and rAsh in the bank of £269,709. Struetsjra, governance and management The board is made up of 7 trustees who support the Christian ethos of the Charity (two of those resigned during the yearl. They bring to the board many skills which are relevant to the smooth running of the charily. The appointment of any trustee follows the guidelines set out in our Memorandum and Articles of assoc4ation. On appointment new truslees will be given the relevant training and all infomation regarding the duties of a trustee. The Trustees, who are also the directors for the purpose of company law, and who servèd during tha year and up to the date of signalure of the financial statements were.. Margaret Grace Colville Bailie Pauline Rebecca Hare Hugh Patrick Mccart Brendan Mccrory V81erie Margaret Miskimmon MBE Lesley Helen Robinson Linda Anne Taylor James McKnight Gary Rodgers Jennifer Waugh (Resigned 23 January 20241 (Resigned 15 January 20241 (Appointed 2 September 2024) (Appointed 2 September 2024> (Appointed 2 September 20241 Risk management The Trustees regard the Charities main risks to be the continuity of food donations. The diversity of the contributing organisations for food mitigates this risk. Regular communication with these organisations is maintained to demonstrate the continuing need for donations. STOREHOUSE NORTH DOWN TRU8TEES' REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 JANUARX 2024 Stalqmernt of Trustee8' ro8ponsibllltl?8 The fru¥leÈ9, who 8re al80 Ihe dire¢lor6 of Siorel)ouse North D¢4¥1) for the purposo uf Company laiv, aru r8$pDn&iblfj for prepafihQ the Trugl888' Report und lh& finanolal 8E&t8ments In a¢¢ordanco i'lilh ai)pliGable IAW and regulglion. Qompanylow requir0$ Ihe Tru$lees lo prepaT8 Iinai)cial siatememts for each finan¢lAI year. Undei. Ihat18W tlie riiiBt8as havo prepa¥éd Ihe flnanclsl stalernEnt8 in 8ccoI'danr• Wilh Unit¢d K(ngdom h¢¢ounling Slandardl, coinprlslng FRS 102 "Th8 Fin8nclal Reportlng stoiidard applicablo in 11iÈ UK 8¥d Repiibllp of Ir61pnd . aiid appllcab18 IBW (U niled Klngdom G¢nerally A¢cepl8d Accounting PraGlicp). Under cDnpahy law the Truste85 musl not approve the flnontt161 $laieménl8 unlèss thoy 8re salisfled11)f(t Ihoy gl¥e R true and fair vi&iV tsl the si*le of Ihg affalr$ ol Ihe CDMp$My and of tlle Sncomlng ro3oyfces and application ot reBour¢e$, Incliiding Ihe income an frKpondllur8, of the comp#ny for tha1 period, In p¥eparing Uiese flnanolal 6tai¢ments, IhB flugteos are rethuired lo: ge18Ct BultAble accounlliig POiicleB and then apply ffteTn consl&t8nlly', TiIBkg ludgnionls end fj811in&les that 81'e roasonable pnd prudent-, and preparo Ihe financlal BlalomeiiiB on lh8 golng ￿ncern ba81s unloèl It IB In&pproprialg kn pyawmfy Ih8t thé vjill d)ntinue 511 buslnes8. The Tru81e8s aro regponsibl¢ for k@aplng adoquslé accouiilino rgcords that aré SLifficionl lo sl)ow explaiii Ihe oompafty'$ if8nsaclior9 and dliclo$e Wilh rea8onaL)le aG¢urAoy al any Ilme Iho tln8ncI91 p06111on of lh$ col￿pa17Y and ¢n8bla Ihem 10 ensure Ihal the finan¢iO1 slal@meNls coniply vjllh tho ¢omiianie8 Act 200$. Tbey are 8180 responslble for safeguardliig Ihe a55ols of Ilio coirparny and heiice f¢r taking r¢a$onsk)18 sl$p$ for tho preventSon and delfcllon of fr8ud and olhgr Irregularilie¥. Tl)Is report has be￿ prep£r8d In acGOTéance ivilh Ihe provlilon5 appllc8ble Ic GOMpani98 8ubl8Gt 10 the Sinall companles r8gmB9 wilhiti Parl 1 S ol Ihè Comp811iE¢F*A¢l 20Q6, Thi TrU8te&8' report waE approvqd by tlie Bo¥Yd ofTrutt¢és, Margar8t Gralle Colvllle BHi11g Truste@ Paullnè RFb¢¢6a Hara Tru6t88 Daled., l)aled.. . ..1 Q .C.i.¢,,1,1,4 Y I1.*4. J,,t,4. STOREHOUSE NORTH DOWN INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STOREHOUSE NORTH DOWN We report to the Trustees on our examinalion of the financial statements of Storehouse North Down (the Charity) for the year ended 31 January 2024. Respon3ibllltie8 and ba818 of report As the Trustees of the Charity {and also its directors for the purposes of company law) you are responsible for Ihe preparation of the financial statements and you have considered the audit requirement of Section 6513) of the Charities Act (Nl) 2008 (the Act). Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to.. examine the accounts under sedion 65 of the Charities Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519llb) of the Charities Act. state whether particular matters have come to our attention. Independent examlnerf8 Btatement We have examined your chariiy accounts as required under Section 65 of the Charities Act and our examinalion was carried out in accordance with the general Directions given by the Charity Commission for Northern Ir81and under section 65(9)(b) of the Charities Act. The examination induded a review of the accountlng records kept by the Charity and a comparison of the accounts presènted with those records. 11 also included consideration of any unusual items or disclosures In the accounts, and seeking explanations from you a5 charity trustees concerning any such matters. Our role is to slate whelher any material mallers have ￿me to our attention giving us Causè to believe.. That accounting records were not kept in respect of the Charity as required by sectian 386 of the 2006 Act- or the finanaal statements do not accord with those records,. or That the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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. That there is further information needed for a proper understanding of the accounts to be reached. We have completed our examination and have no concems In respect of the matters {1) to14J listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland, we have found no matters that require-drawing to your attention. Harbinson Mulholland Centrepoint 24 Omieau Avenue Belfast Co. Antrim BT2 8HS Northem Ireland Dated.. .. S.Lt.l..i.o.I STOREHOUSE NORTH DOWN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 JANUARY2024 Unrestricted funds 2024 Unrostricted funds 2023 Notes In¢om• from: Donalions and legacies Investments 183,548 1,414 233,018 171 Total Income 184,962 233,189 Expendlture on: Charitable activities 196,516 201,400 Total expenditurn 196,516 201,400 Net incomellexpenditurel and movement in funds (11,554) 31,789 Reconclllatlon of fund8: Fund balances at 1 February 2023 310,164 278,375 Fund balances at 31 January 2024 298,610 310,164 The statement of financial activities Includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. STOREHOUSE NORTH DOWN BALANCR SHEET ASAT31 JANUARY2024 2024 2023 Notg* Currènt aa•alG StoGk$ Cash 81 bank and in h$rt 11 30.701 269,709 23,717 287,347 300h10 311,064 Cr9dllof•', Imounto lallln4 dup Withln- oneye (1,800) (900) N•t ourr•nt a•iota 298,610 310,164 Net a68•t• ￿ClUdIng ppnslon 114blllty 298,810 310.164 Tha fundg olthe Charlty Uiir88trictod lund$ 298,810 310.184 2D8,810 310.184 The CoMp￿Y is 8ntlllqd lo lh¢ ¢xemptlon froni Ilv) audlt ¢•quIrem￿l contaiiiod in Dertlon 477 01 lh8 Conwan*B 2006,. fur Éhe yesr eiidgd 31 Janvtry 2024, Yhe dl reoljrs 8oknowl8dBD Ihtif regpon£Stiilil(8s for cpmplylng wltli ehe requirfjmonts of the Companies Acl 2006 N'Alh roswl lo aceountlng records arsd Ihe prep81a(bn Df fin?n¢tal $l8tem¢nts. ThB nltrt)b¢r* h¢vé not Teqiilrgd the ¢ompAny to oblEJin ￿ audit of 118 flnancial 61&lfrniont& for tho yo•r in qué911on In aooordaiice ivlth sectlon 47e. Yhe80 fin￿￿¥1 '$liiÉmenle have boon pr¢pared In 8CCL)rdarKx4 wllh lh¢ Pro￿191011$ appllcable to Gornp3nle8 sub)ect Ihe Amsil aompani8s reglme. Tlie nn8nci818laLem¢nt9 were approved by Ihtr Trrjglees oli ,,.,, ..I,F,.,I,oq It rpLdv marg￿ Trust86 Gi•¢e ColvlUe'Bgile PaLilin& RelJ8tGa Hera Trustee CornFany rég16tratlon number N1828614 (Northem Ireland) STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accounting pollcies Charlty Inforniation Storehouse North Down is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 12 Balloo Avenue, Bangor, County Down. B T19 7QT. 1.1 Accountlng conventlon The financial ststements have been prepared in accordance with the Companies Act 2006 and '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 1021" las amended for acccunting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterllng, which is the functlonal currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial slatements, the Tru6tees have a reasonable expectation that the Charity has adequate resources to continue in opeTalional existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltsble fund• Unrestricted funds are available for use at the discretion of the Trustees in furtheranc8 of their charitable objectives. Restricted fundB are subject to SP8cific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes to the financial 5t8lement8. 1.4 Income All income is recognised once the Charity has entillement to the income, it is probable that the income will be re￿iVed and the amount of income Teceivable can be measured reliably. Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with. the Charities SORP (FRS 102), the general volunteer time of Ihe Friends is not recognised and refer to Ihe Trustees, report for more information about their conlribution. STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Accounting policies (Continued) On receipt, donated professional 5eTvices and donated faulities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic ben6frt on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenanl is recognised at the time of the donation. Income tax recoverablè in relation to investment income is recognised at the time th8 investment income Is receiv8ble 1.5 Expendlturo Expenditure is recognised once there is a legal or con5tTUCtive obligation to transfer economic benefit to 8 third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each activrty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs altribulable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned belween those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Govemance costs are those incurred in connection with administration of the company and compliance with constitutional and slatutory requirements. Charitable activilie8 and Governance costs are costs incurred on the company'8 educational operations, Including support costs and costs relating to the governance of the company apportioned to chantable activities, All expenditure is inclusive of irrecoverable VAT. 1.6 Stocks Stocks are valued at th8 lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overhead8. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits hdd at call wilh banks, other short-tem liquid Investments with original maturities of threè months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial assets Basic financial assets, whlch Include deblors and ¢ash and bank balances, are Initially measured at transaction Pri￿ including transaction costs and gre subsequently carried at amortised cost using the effective interest method unless Ihe arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policie8 (Continued) Baslc flnancial liabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounled at a market rate of interest. Financial liabililies classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using th8 effective interest rate method. Trade creditors are obligations to pay for good8 or service8 that have bèen acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as nonvcurrent liabilities. Trade ¢reditor5 are recognised initially at transaction prfce and subsequently measured at arnortised cost Using the effective interest method. Derecognition of flnanclal Ilabllltlas Financial liabilitie5 are derecognised when the Charity's contractual obligations explre or are discharged or cancelled. Crltlcal accountlng e8timate8 and Judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not ￿adIlY apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and fulure periods. In the Trustees, opinions, there ar8 no significant judgements, estimates and assumptlons made about the recognition of assets, liabilities, incomes and expenses. 10- STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Income from donatlons and legacies Unrestricted funds 2024 Unrestrlcted funds 2023 Donations and gifts Grants 176.876 6.672 230,601 2,417 183,548 233,018 Donation8 and gift8 Food donated Donationed from individuals Donations from organisation8 Gift ald Other 87,333 64,355 21,675 3,470 43 109,165 90,730 28,607 255 176,876 230,601 Grants recelvable for core activities Ards and North Down Borough Council 6,672 2,417 6,672 2,417 Income from Investments UnrestrScted Unrestricted funds fund8 2024 2023 Interest receivable 1,414 171 11 STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Charitable activitie8 2024 2023 Food parcels issued Food èxpenses Olher costs Meat vouchers issued Rent Bank fees Hardship fund 80,349 39.090 114,391 18,044 2,000 23,000 13,200 355 22,786 21,000 13,200 426 36,263 190,328 193,776 Share of support costs (see note 6) Share of governance costs (see note 8) 5,288 900 6,724 900 196,516 201,400 Support CO8t8 Support Governance ¢ost8 C08ts 2024Support costs Governance costs 2023 Establishment expenses 5,288 5,288 8,724 6,724 Accountancy 900 900 9(NJ 900 5,288 900 6,188 6,724 900 7,624 Analysed between Charitable activities 5,288 900 8,188 6,723 900 7,623 Governan￿ costs includes payments to the auditors of £900 (202& £900) for audit fees. Net movement in fund8 2024 2023 The net movernent in funds is stated after chargingl{crediting): Trustees None of the Trustees lor any persons conneded with them) received any remuneration or benefits from the Charity during the year. 12- STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Employees The average monthly number of employees during the year was.. 2024 Numbor 2023 Number Trustees There were no employees whose annual remuneration was more than £60,000. l O Taxation The charity is exempl from taxation on its activities because all its income is applied for charitsble purposes, 11 Stocks 2024 2023 Finished goodB and goods for resale 30,701 23,717 12 Creditors: amounts falllng due withln one year 2024 2023 Accruals and deferred Income 1,800 900 13 Unre8tricted fundg The unrestricted fund5 of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 February 2023 Incoming Resources At 31 January resources expèndad 2024 General fijnds 310,164 184,962 1196,516) 298,610 Prevlous year: At 1 February 2022 Incomlng resources Resources At 31 January expended 2023 General funds 278,375 233,189 1201,400) 310,164 13 STOREHOUSE NORTH DOWN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 14 Analysls of net assets between funds Totsl 2024 Total 2023 Fund balances at 31 January 2024 are rèpresented by.. Current assetsl{liabilities) 298,610 310,164 298.610 310,164 15 Oporatlng leas• commltm•nts At the reporting end date the Charity had outstanding commitments for future mlnimum lease payments under non