Company Regislration Number: N1602795 Charity Nurnber: 102175 Storehouse {Nl) {A company limlted by guarantee. not having a share capital) Annual Report and Unaudited Financial Statements for the financial year ended 31 August 2024 Mccleary & Company Ltd Chartered Accountants Garvey Sludios 14 Longstone Street Lisburn Co Antrim BT28 1TP
Storehouse (Nl) {A company limited by guarantee, not having a share capital) CONTENTS Page Trustees, and Other Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements Supplementary Information relating to the Financial Statements 18
Storehouse (Nl) IA ¢ompany limited by guaranto8, not having a share capttall TRUSTEES. AND OTHER INFORMATION Trustees Rev Andrew Textor Smith Michael Humphreys (Appointed 1 May 2024) Cheryl Victoria Jenkins (Appointed 2 July 2024) Lynda Mary Gould {Appointed 2 July 2024) Alan Roye Carson Timothy Mairs (Resigned 26 November 20241 Charity Number in Northern Ireland 102175 Company Reglstration Number N1602795 Registered Office 1st Floor Temple Court 39 North Street Belfast Co. Anlrim BT11NA Independent Examiner Mccleary & Company Ltd Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co Antrim BT28 1TP Principal Bankers The Co-operative Bank PO Box 101 Balloon Street Manchester M60 4EP
Storehouse (Nl) IA company limited by guarantee. not having a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 August 2024 The trustees present their Trustees. Annual Report, combining the Directors. Report and Trustees, Report, and the unaudited financial statements for the financial year ended 31 August 2024. The financial stalemenls are prepared in accordance with the Companies Act 2006, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Slalement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102). The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under the statement of Recommended Practice {SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitulion are known as members of the board of trustees. In this report the trustees of Storehouse INI) present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 August 2024. The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and. although not obliged lo comply with the Statement of Recommended Practice applicable in Ihe UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. MSsslon. Objectives and Strategy Mission Statement To develop communities that recognise the significance in everyone. We recognise that povety of any kind often steals self-worth and value, driving people towards isolation and stripping away dignity and individual significance. We believe that, by both meeting practical needs through provision and developing positive community environments, these patterns can be reversed and dignity, significance and hope can be restored leading to individual and community wide flourishing. Objecllves Our aim in Storehouse (Nl) is to cornbat physical poverty and develop healthy. positive communities throughout the Greater Belfast Area. We do this, for the public benefit. ihrough our two objectives: la) To relieve financial hardship and povety and to promote and preserve good health by the provision of funds. goods or services of any kind, including emergency food, clothing and household goods. The direct benefits which flow from this purpose include improvement of health, reduction of anxiety and slress associated with a poverty lifestyle. These benefits can be demonstrated by feedback from referring partner agencies, continued monitoring of service user circumstances and ongoing evaluation of our seNice delivery. (b) To benefit the residents of the Greater Belfast Area and beyond without distinction of sex, sexual orientation. race or of political, religious or other opinions by associating together the said residents and the local authorities. voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. The direct benefits which flow from this purpose include increased understanding and awareness of local poverty issues, reduction in poverty driven isolation and an increase in opportunity for social interaction. These benefits can be demonstrated by provision of educational presentations in schools, churches etc., ongoing training of volunteers and provision of facilitie5 for multiple social and educational programmes ran by ourselves and third party organi5ations. Who do we benefit? The charity's beneficiarie5 are those living within the Greater Belfast Area lacking Ihe ability to provide themselves with the basic essentials of life as referred to us by our partners and those in receipt of an increased awareness of local poverty issues through our educational presentations and training sessions. How do we mitigate harm? The purposes of the charity may lead to harm by producing an over dependency on charitable provision however through ongoin9 monitoring of individual service user access this risk of harm is Ouet9hed by the benefits.
Storehouse (Nl) (A company limited by guarantÈ•. not havlng a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 August 2024 Background Launched in 2008. as a project of Belfasl City Vineyard Church, Storehouse had a very simple aim., to combat food poverty throughout the Greater Belfast area. working towards the day when no one in our city should have to go hungry. Since then the project has evolved with Storehouse INI) being established in 2010 and the focus broadening to encompass other basic needs such as clothes. furniture and household goods. Today Storehouse is providing around 150 food parcels, seeing 200 referrals in our centre, and making around 10 furniture deliveries every week. We partner with over 200 charities and agencies across the city and work alongside more than 70 churches. schools, and businesses. How did we do? In the year ending 31 st August 2024 Storehouse {Nll continued to grow in influence within the Greater Belfast Area and provided a significant service to those living in circumslances of poverty and financial, relational or emotional hardship. We delivered on our objectives in the following ways a) We started the year continuing to run 4 referral sessions per week, 51 weeks in the year, staffed by an amazing volunteer team. In the last half of the year we began to make plans to an appointment based system rather than our open sessions, rernoving the need to queue and restoring maximum dignity and choice to all our setvice users. In June we implemented the new system fully, running a total of 8 provision sessions per week. Within these sessions we had roughly 6500 visits lo our lood shop, where we were able lo provide over 120,000 items of food and toiletries to those in need. On top of that we were able to supply over 14.250 items of clothing and deliver over 720 items of fumiture to families and individuals living within poverty throughoul Belfast. The value of the goods given, without charge to the individuals served, is estimated to be around £177.000. We provided this practical help lo over 1500 unique homes across the city, representing a vast spectrum of the community including, but not limited to, families with young children. individuals living on benefits, those struggling with cycles of addiction or mental health issues. the homeless. refugees and asylum seekers. bl Alongside the practical provision we sought to develop healthy, positive community within our service users and volunteers and the wider Belfast community through facilitating some relational based environments such as art and pottery groups. guitar classes. football, baking, photography and filmography. English classes and much more. We continue to run our weekly Wednesday morning breakfast drop in space, providing both a hot breakfast and a space of positive community to over 60 guests every week. Throughout the year we have had the joy of welcoming a trained advice agent into our breakfast space. providing bespoke advice to those in need around issues of housing and benefits. This year also saw us place our first licensees into accommodation Ihrough our partnership with Hope into Action, a UK based national charity, helping to empower churches to house the homeless. Two licensees were placed in our first house and investment was found for our second house which finished the financial year with one licensee housed and another preparing to move in. To facilitale the ongoing growth of the work of Storehouse we hired a new part-time Warehouse c{OrdInatOr and finished the year having appointed a new Operations Lead. Throughout the year we have continued to speak in many of our 80+ partner churches, schools and businesses. sharing about the work of Storehouse and more importantly speaking to perceptions of local poverty issues and inviting 100's into ongoing conversations about the challenges facing our communities. We have offered training to our amazing team of 150+ volunteers in areas such as health and safety. safeguarding. first aid. food hygiene. suicide awareness. understanding the benefil and asylum systems and much more. We have facilitated learning placements for college and university students as well. We continue to seek a better understanding for all, across the Socio-economic divides within our city. Structure, Governance and Management Structure Storehouse (Nll is a company limited by guarantèe as well as a registered charity, in which the company direclors form the board of Trustees. The liability of each Trustee in the event of a winding up is limited to £1. The day to day running is delegaled to the employed staff. New Trustees are appointed when appropriate. Suitable candidales are considered on the basis of their skills, experience and sympathy with the aims of the charity- New Trustees have the opportunily of reviewing appropriate documents, including the accounts, as part of the induction process. Financial Review The results for the financial year are set out on page 9 and additional notes are provided showing income and expenditure in greater detail.
Storehouse (Nl) (A Company Ilmltèd by guarant••, not havlng a share capital) TRUSTEES, ANNUAL REPORT forthe financial year ended 31 August 2024 Financial Results At the end of the financial year the charity has assets of £218,389 {2023 £264,982) and liabilities of £3,158 (2023 - £3,095). The nel assets of the charity have decreased by £(46,656). Reserves Position and Policy Investment Powers and Policy The constitution of Storehouse {Nl) authorises the Trustees to make and hold investments using ils fund5. Cash balances are curréntly held with the Cooperative Bank plc. The Trusteés. with regard to th8 liquidity requirements of the organisation, have operated a policy of keeping funds within interest bearing accounts. Reserves Policy The Trustees who served in this period have undertaken the work of the charity, identified the major risks lo which the charity is exposed and are satisfied that all appropriate policies are in place to mitigate these risks. Storehouse (Nll maintains reserves in order to cover fluctU8tions in income and expenditure, to allow for any major unexpected expenditure or to mitigate any decline in the overall financial environment. Trustees The Iruslees who served throughout the financial year, excepl as noled, were as follows.. Rev Andrew Textor Smith Michael Humphreys (Appointed 1 May 20241 Cheryl Victoria Jenkins (Appointed 2 July 2024) Lynda Mary Gould (Appointed 2 July 2024) Alan Roye Carson Timothy Mairs (Resigned 26 November 20241 In accordance with the Constitution, the truslees retire by rotation and. being eligible. offer themselves for re-election. Compllan¢e wlth Sector-wide Leglslation and Standards The charity engages prfractively with legislation. standards and codes which are developed for the sector. storehouse (Nll subscribes to and is compliant with the following: The Companies Act 2006 The Charities SORP IFRS 1021 Risk Managernent The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include: (a) An annual budget approved by the Trustees (b) Regular review by the Trustees of financial reports (cl Identification and management of risk Approved by the Board of Trustees on 23 May 2025 and slgned on its behalf by: Rev Andrew Textor Smith Trustee Mlchael Humphreys Trus Cheryl Victoria Jenkins Trustee Lynda Mary Gould Trustee
Storehouse (Nl) IA company limited by guarant••, not havlng a shar• ¢apitsl) STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 August 2024 The trustees, who are also directors of Storehouse INI) for the pUoseS of company law. are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors to prepare financial statements lor each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law} including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the trustees must not approve the financial statements unless they are salisfied that they give a true and fair view of the stale of affairs of the charity and of the net income or expenditure of the charity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent., state whether the financial statements have been prepared in accordance with the relevant financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charily will continue in operation. The trustees confirm that they have complied with the above requirements in preparing the financial stslements. The Iruslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Trustees on 23 May 2025 and signed on Its behalf by: Rev Andrew Textor Smith Trustee Michael Humphreys Trustee yJ- Cheryl Vlctoria Jenkins Trustee Lynda Mary Gould Trustee
Storehouse (Nl) (A company limlted by guarantee, not having a share capital) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF STOREHOUSE (NI) I have examined the financial statements of the charity for the financial year ended 31 August 2024. which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and the related notes. This report is made solely lo the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. My work has been undertaken so that I might compile the financial statements that I have been engaged to compile, report to the Board of Trustees that I have done so, and state those matters that I have agreed to state to Ihem in this report and for no other purpose. To the fullest exteni permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for my work, or for this report. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is my responsibility to: examine the financial statements under section 65 of the Charities Act., follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of Ihe Charities Act; and stale whether particular matters have come to my attention. Basis of independent examiner's report I have examined your charity financial statements as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9}{b} of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with Ihose records. It also includes consideration of any unusual items or disclosures in Ihe financial statements and seeking explanations from Ihe trustees concerning any such matters. The procedures undertaken do nol provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fair, view and the report is limited to those matters set out in the statement below. In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with seclion 386 of the Companies Act 2006 the financial statements do not accord with those accounting records the financial staternents have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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 IFRS102) there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have no concerns and have come across no other matters in connection wilh the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial slatemenls to be reached. Elizabeth Chambers MCCLEARY & COMPANY LTD Chartered Accountants Garvey Studios 14 Longstone Street Lisburn Co Antrim BT28 1TP Date: 23 May 2025
Storehouse (Nl) IA company limited by guarantèe, not havlng a Share ¢apitall STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) for the financial year ended 31 August 2024 Unrestri¢ted Restrlcted Funds Funds 2024 2024 Total Unrestricted Restricted Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Income Donatrons and legacies Investments Other income 380,884 729 35,675 416,559 729 435,337 176 4,000 31,106 466,443 176 4,000 Total Income 381,613 35,675 417,288 439,513 31,106 470,619 Expendlture Raising funds Charitable activities 76,269 335,305 1,668 50,702 77,937 386,007 67.207 352,075 67,207 371,515 19,440 Total Expenditure 411,574 52,370 463,944 419,282 19,440 438,722 Net In¢omel{expenditure) (29,961) (16,695) (46,656} 20,231 11,666 31,897 Transfers beeen fvnds (30,258) 30,258 {16.7891 16,789 Net movement In funds for the financial year (60,2191 13,563 (46,656) 3,442 28,455 31.897 Reconciliation of funds: Total funds beginning of the year 14 216.110 45,777 261,887 212.668 17,322 229.990 Totsl funds at the end of the year 155,891 59,340 215.231 216,110 45,777 261,887 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. The notes on pages 11 to 16 form part of the financ18151atements
Storehouse (Nl) IA company limited by guarante8, not having a sharo capital) Company Number.. N1602795 BALANCE SHEET as at 31 August 2024 2024 2023 Notes Flxed Assets Tangible assets 59,682 57,367 Current Assets Debtors Cash at bank and in hand 10 3,181 155,526 2,112 205,503 158,707 207.615 Creditors: Amounts falling due withln one year 11 (3,158) {3,095) Net Current Assets 155,549 204,520 Total Assets less Current Liabilities 215,231 261,887 Funds Restricted funds General fund (unreslricled) 59,340 155,891 45,777 216,110 Total funds 14 215,231 261,887 These financial slatements have been prepared in accordance with the special provisions relating to small companies within Part 15 ofthe Companies Act 2006. For the financial year ended 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006,. and no notice has been deposited under section 476. The trustees confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of th6 charity as al the end of the financial year and of ils profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating io financial slatements, so far as applicable to the charity. Approved by the Board of Trustees and authorised for issue on 23 May 2025 and signed on Its behalf by Rev Andrew Textor Smith Tru Michael Humphreys Tru tee Cheryl Victoria Jenkins Trustee Lynda Mary Gould Trustee The notes on pages 11 10 16 form part of the financial ststements 10
Storehouse (Nl) IA company limited by guarantee, not havlng a Share ¢apltal) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 GENERAL INFORMATION Storehouse INI) is a company limited by guarantee incorporated in Northern Ireland. The registered office of the charily is 1 st Floor Temple Court, 39 North Street, Belfast, Co. Anlrim. B T1 1 NA which is also the principal place of business of the charity. The financial statements have been presented in Pound {£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the charity's financial statements. Basls of preparatlon The financial statements of the charity, which is a public benefil entity under FRS 102. have been prepared on the going concern basis under the historical cost convention, modified to include rtain items at fair value. The financial statements have been prepared in accordance with the Stalement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" As permitted by the Companies Act 2006, the charity has varied the standard fomials in that acl for the Statement of Financial Activities and the Balan Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Statement of compliance The financial slatements of the charily for the financial year ended 31 Augusl 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice ISORP} 'Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland FRS 102". Cash flow statement The charity has availed of the exemption in FRS 102 from the requirement to produce a cash flow statement because it is classified as a small charity. Fund accounting The following are the categories of funds maintained.. Reslrl¢ted funds Restricted fvnds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charily. Unrestricted funds Unrestricted funds consist of General and Designaled funds. General funds represent amounts which are expendable at the discretion of the board, in furtherance ()f the objectives of the Gharity. Designated funds comprise unrestricted funds that the board has. at its discretion, sel aside for particular purposes. These designations have an administrative purpose only. and do not legally restrict the board's disGretion to apply the fund. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met. the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. Income from charitable activities Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance. its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it 15 accrued in debtors. 11
continued Storehouse {Nl) IA company limited by guarantee. not having a share Capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 Expenditure Expendilure is analysed beeen costs of charitable activilies and raising funds. The cosls of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event. a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each aclivily. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulaled depreciation. The charge to depreciation is calculated lo write off the original cost or valuation of tangible fixed assets, less their estimated residual value. over their expected useful lives as follows.. Improvements to property Fixtures, fittings and equipment Motor vehicles Computer equipment 40/0 Reducing Balance 25% Reducing Balance 200 Reducing Balance 250/0 Reducing Balance Debtors Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, bul not yet received at financial year end. is included in debtors. Taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Pensions The charity operates a defined contribution pension scheme for employees. The assets of the scheme ar8 held separately from those of the charity. Annual contributions payable to Ihe charity's pension scheme are charged to Ihe income and expenditure account in Ihe period to which they relate INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Donations Gift aid Donated goods Grants 242.646 22,857 115.381 12.123 254,769 22.857 115,381 23.552 287.591 20,177 158.675 23,552 380.884 35,675 416,559 466,443 INVESTMENTS Unrestricted Restricted Funds Funds 2024 2023 Deposit account interest 729 729 176 OTHER INCOME Unrestricted Restricted Funds Funds 2024 2023 Rent received 4.000 12
continued Storehouse {Nl) IA company Ilmited by guarantee. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 EXPENDITURE RAISING FUNDS Dlrect Costs Other Costs Support Costs 2024 2023 Raising funds 77,937 77,937 67.207 CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs 2024 2023 Expenditure on charitable activites 380,141 5,866 386,007 371,515 SUPPORT COSTS Charitable Activities 2024 2023 Independent Examiner's Fee Volunteer Costs 1,336 4,530 1.336 4,530 1,248 5,091 5,866 5,866 6,339 ANALYSIS OF SUPPORT COSTS Basis of Apportionment 2024 2023 Independent Examiner's Fee Volunteer Costs 100Q/. 100% 1,336 4,530 1,248 5,091 5,866 6,339 NET INCOME 2024 2023 Net Income is stated after chargingl(crediting): Depreciation of tangible assets Independent Examiner's remuneralion.. independent examination services 10,064 4.101 1,336 1.248 INVESTMENT AND OTHER INCOME 2024 2023 Sundry income Bank inlerest 4.000 176 729 729 4,176 13
continued Storehouse (Nl) {A company Ilmited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 EMPLOYEES AND REMUNERATION Numbor of employees The average number of persons employed (including executive trustees) during the financial year was as follows: 2024 Number 2023 Number Management and Admin The staff costs comprise.. 2024 2023 Wages and salaries Social security costs Pension costs 125,919 3,779 4.732 93,533 3,720 3,787 134.430 101,040 No employees received emoluments in excess of £60,000. TANGIBLE FIXED ASSETS Improvement Fixtures, Motor Computer equipment Total to property fittings and equipment vehicles Cost Al 1 September 2023 Additions 21,612 21,016 10.136 28,440 4,732 2,243 75,800 12.379 At 31 August 2024 21.612 31,152 28.440 6,975 88.179 Depreclation At 1 September 2023 Charge for the financial year 792 833 10,319 3,739 5,352 4,618 1.970 874 18.433 10.064 At 31 August 2024 1.625 14,058 9,970 2,844 28.497 Net book value At 31 August 2024 19,987 17.094 18,470 4,131 59.682 At 31 August 2023 20,820 10,697 23.088 2.762 57.367 10. DEBTORS 2024 2023 Olher debtors 3,181 2.112 3,181 2.112 11. CREDITORS Amounts falling due within one year 2024 2023 Other creditor5 Accruals and deferred income 1,848 1,310 1,849 1,246 3,158 3,095 14
continued Storehouse (Nl) IA company limited by guarantee, not havlng a share capltal} NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 12. PENSION COSTS - DEFINED CONTRIBUTION The charity operales a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independent]y administered fund. Pension costs amounted lo £4,732 {2023 - £3,787). 13. RESERVES 2024 2023 At the beginning of the year (Deficit)ISurplus for the financial year 261,887 {46.6561 229.990 31,897 At the end ofthe year 215.231 261,887 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds At 1 September 2022 Movement during the financial year 212,668 3,442 17,322 28,455 229.990 31,897 At 31 August 2023 Movement during the financial year 216,110 (60.219) 45,777 13,563 261,887 (46,656} At 31 August 2024 155,891 59,340 215,231 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 September 2023 Income Expendlture Transfers between funds Balance 31 August 2024 Restricted funds Change The Lens Storehouse Refurbishment Van Purchase Social Supermarket Energy Support Hope Into Action 2.061 23,066 20.650 425 1.396 4,130 21.052 1,668 23,699 1.636 21,670 16.520 21.052 2.500 12.123 832 18,682 30.258 45,777 35,675 52.370 30,258 59.340 Unrestricted funds Unrestricted General 216,110 381,613 411,574 (30.258) 155.891 Total funds 261,887 417,288 463.944 215,231 14.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets charity use Current assets Current Ilabilities Total Restricted funds 44,773 14,567 59,340 Unrestricted general funds 14.909 144,140 (3,158) 155,891 59,682 158,707 (3,1581 215,231 15
continued Storehouse (Nl) IA eompany limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 15. STATUS The charity is a company limited by guarantee not having a share capital. The liability of the members is limited. Evéry member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one financial year thereafter. for the payment of the debts and liabilities of the company contracted before Ihey ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves. such amounl as may be required, not exceeding £ 1. 16. TRUSTEES. REMUNERATION There were no trustees. remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. There were no trustees. expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. 17. RELATED PARTY TRANSACTIONS Payments to the staff pension scheme are made by Belfasl City Vineyard Church. Payment is then transferred from Storehouse INI) lo Belfast City Vineyard Church. At 31 August 2024 £1.848 (2023.- £1,849) was owed to Belfast City Vineyard Church in relation lo pensions paid. Alan Carson and Andrew Smith are Trustees of both Storehouse {Nl) and Belfast City Vineyard Church. 18. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since Ihe financial year-end. 16
STOREHOUSE Nl (A ¢ompany limited by guarantee. not havlng a $har¢ ¢apltsll SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024 17
Storehouse (Nl) IA company limited by guarant80, not havlng a share ¢apltall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financial year ended 31 August 2024 2024 2023 In¢ome Donations Gift Aid Donated goods Grants 254,769 22.857 115,381 23,552 287.591 20.177 158,675 416,559 466,443 Cost of generaling funds Overheads and production costs 77,937 67,207 77,937 67,207 Gross surplus 338,622 399,236 Expenses Wages and salaries Social securily costs Staff defined contribution pension costs Operational costs Volunteer costs Independenl Examinerfs remuneration Subscriptions and donations Depreciation Charitsble donations 125,919 3,779 4,732 120.266 4,530 1,336 93.533 3.720 3,787 101.008 5,091 1.248 352 4.101 158,675 10,064 115,381 386,007 371.515 Miscellaneous income Sundry income Bank interest 4,000 176 729 729 4,176 Net (deficit)Isurplus 146.6561 31.897 The supplementary information does not fomi part of the financial statements 18