CHARITY REGISTRATION NUMBER: NIC103316 ReNeW for Cancer Research Unaudited Financial Statements 30 April 2024 ANA NTAN Chartered accountants Sketrick House Jubilee Road Newtownards Co Down BT23 4YH Y LIMITED
ReNeW for Cancer Research Financial Statements Year ended 30 April 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements
ReNeW for Cancer Research Trustees. Annual Report Year ended 30 April 2024 The trustees present their report and the unaudiled financial statements of the charity for the year ended 30 April 2024. Reference and adminislrative details Regisiered charity name ReNeW for Cancer Research Charity registration number NIC103316 Principal office 34 The Square Portalerry Co Down BT22 1 LR The trustees Mrs M Mccarthy Mrs M Rooney Mrs U Reilly Mrs L Ellison Mrs K Chambers Ms S Meban Company secretary Ms S Meban Accountants Rogan Accountancy Limited Chartered accountants Sketrick House Jubilee Road Newtownards Co Down BT23 4YH Structure, governance and management Background ReNeW for Cancer Research began its life in 2011 when a group of individuals local lo the Portaferry area came together with the desire lo raise funds for Cancer Research. After consideration,they identified Ihe potential for a charity shop to be opened in Porlaferry. The concept quickly came lo fruition and as a resull, ReNeW for Cancer Research was set up, culminaling in the opening of ils shop in March 2011. Legal Structure ReNeW for Cancer Research is an unincorporated organisation governed by its constitution. The organisation has been awarded charitable status by HMRC for tax purposes and is a registered charity. governed by the Charity Commission for Northern Ireland (charity number NIC103316). Governance and Staffing Arrangements The organisation is overseen by a committee of trustees who meet at least three times a year. The organisation does not recruit staff. The outlet is manned by a team of dedicated and enthusiastic volunteers.
ReNeW for Cancer Research Trustees. Annual Report (continued) Year ended 30 April 2024 Structure, governance and management (contIn(d) Risk Management The trustees have assessed the major risks to which the organisation is exposed and are satisfied that systems and procedures are in place to mitigate their exposure to the major risks. Objectives and activities Objectives The objectives of the charity are as follows: 1. To raise funds for Cancer Research., 2. To regenerate a vacant building for a use that benefits the community. 3. To sustain the environment through the re-using and recycling of resources- 4. To improve the area known as Portaferry for the benefit of the inhabitants of the area. and 5. To encourage the goodwill and involvement of the wider community through the use of volunteers and the recycling of resources. Achievements and performance Achievemenls Since opening its first shop in March 2011, the organisation has grown significantly. Growth in demand was overwhelming in the early years, and continues to mainlain high levels of footfall. Charitable Donations During the year ReNeW for Cancer Research made a total of £30,000 in charitable donations to Cancer Research (UK)- Since the year end we have made the decision to focus our fundraising activities towards the benefit of Northern Ireland based cancer charities. Portaferry Cancer Research The local Cancer Research Committee is proud to announce that to dale, they have raised over £500,000, of which over £300,000 has been raised by ReNeW. Although a separate entity, Portaferry Cancer Research acknowledges that this could not have been achieved so quickly without ReNeW. Financial review Funds Policy It is the policy of the committee that unrestricted funds should be maintained at an appropriale level equivalent to between 3 and 6 months expenditure. The Irustees consider that reserves at Ihis level will ensure that, in the event of a significant drop in income, they will be able lo continue the organisation's current activities while consideration is given to ways in which additional funds may be raised. Trustees, responsibilities statemenl The trustees are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
ReNeW for Cancer Research Trustees. Annual Report (continued) Year ended 30 April 2024 The law applicable to charities in England and Wales requires the charity truslees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the applicable Charities SORP- make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity will continue in business. The trustees 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 time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, annual report was approved on 28 February 2025 and signed on behalf of the board of trustees by.. Mrs M Mccarthy Trustee Mrs U Reilly Trustee
ReNeW for Cancer Research Independent Examiner's Report to the Trustees of ReNeW for Cancer Research Year ended 30 April 2024 I report to the trustees on my examination of the financial statements of ReNeW for Cancer Research ('the charity'l for the year ended 30 April 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial slatements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charivs financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. Independent examiner's slatement I have completed my examinalion. I confirm that no malerial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Yrue and fair. view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this retM)rt in order to enable a proper understanding of the accounts to be reached. Imelda Rogan (BSC. Hons. FCA) Rogan Accountancy Limited Independenl Examiner Sketrick House Jubilee Road Newtownards Co Down BT23 4YH
ReNeW for Cancer Research Statement of Financial Activities Year ended 30 April 2024 2024 Unreslricted funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Charitable activities 400 43,627 42,601 42,601 Total income 42.601 42,601 44.027 Expenditure Expenditure on charitable activities Total expendilure 37.807 37,807 42.124 37,807 37,807 42,124 Net income and net movement in funds 4.794 4,794 1.903 Reconciliation of funds Total funds brought forward Total funds carried forward 4.800 4,800 2.897 9.594 9,594 4.800 The statement of financial aclivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 10 12 form part of Ihese financial slatemenls.
ReNeW for Cancer Research Statement of Financial Position 30 April 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 10 315 9,279 315 4,485 9,594 4.800 Net current assets 9,594 4.800 Total assets less current liabilities 9,594 4,800 Funds of the charily Unrestricted funds 9,594 4,800 Total charity funds 9,594 4,800 These financial statements were approved by the board of trustees and authorised for issue on 28 February 2025, and are signed on behalf of the board by: Mrs M Mccarthy Trustee Mrs U Reilly Trustee The notes on pages 8 10 12 form part of Ihese financial slatemenls.
ReNeW for Cancer Research Statement of Cash Flows Year ended 30 April 2024 2024 2023 Cash flows from operating activities Net income 4,794 1,903 Changes in.. Trade and other debtors {3151 1,588 Cash generated from operations Net cash from operating activities 4,794 4,794 1,588 Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalenis ai end of year 4,794 4,485 1.588 2.897 9,279 4.485 The notes on pages 8 10 12 form part of Ihese financial slatemenls.
ReNeW for Cancer Research Noles to the Financial Statements Year ended 30 April 2024 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal off ice is 34 The Square. Portaferry, Co Down, BT22 1LR. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, 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 IFRS 1021 (Charities SORP {FRS 102}l and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabililies and investment properties measured at fair value through income or expendwture. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the chariws ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the Irustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of sub-classes: restricted income funds or endowment funds.
ReNeW for Cancer Research Noles to the Financial Statements (continued) Year ended 30 April 2024 Accounting policies (conllnued) Incoming resources All incoming resources are included in the slatement of financial activities when entitlement has passed lo the charity- it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from Ihe cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contraclual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannol be fully recovered, and is classified under headings of the statemenl of financial activities to which it relates- expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct cosls attributable lo a single activity are allocated directly to that activity. Shared cosls are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
ReNeW for Cancer Research Noles to the Financial Statements (continued) Year ended 30 April 2024 Accounting policies (conllnued) Financial instruments (continued) Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments. including derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial inslrumenls are subsequently measured at fair value, with any changes recognised in the statement of financial activities, wilh the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, Ihese are assessed individually for impairment. Olher financial assels are either assessed individually or grouped on the basis of similar ciedil risk characterislics. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donations and legacies Unrestricted Toial Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 400 400 Chariiable activities Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Sale of goodslservices as part of direct charitable activities Recycling 40,527 2,074 40,527 2,074 41,744 1,883 41,744 1,883 42.601 42.601 43,627 43.627 10
ReNeW for Cancer Research Noles to the Financial Statements (continued) Year ended 30 April 2024 Expenditure on charitable activities by fund type Unrestricted Toial Funds Unrestricted Total Funds Funds 2024 Funds 2023 ReNeW Shop Supporting Cancer Research UK 7.807 30.000 7.807 30.000 7,124 35,000 7,124 35,000 37.807 37.807 42,124 42.124 Expenditure on charitable activities by activily type Activities undertaken Toial funds directly 2024 Total fund 2023 ReNeW Shop Supporting Cancer Research UK 7.807 30.000 7,807 30,000 7,124 35,000 37.807 37,807 42,124 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 The average head count of employees during the year was Nil {2023- Nill. No employee received employee benefits of more than £60.000 during the year {2023: Nil)- Trustee remuneration and expenses Trustees participate on a fully voluntary basis and no trustees received remuneration or benefits during the year. 10. Debtors 2024 2023 Other debtors 315 315
ReNeW for Cancer Research Noles to the Financial Statements (continued) Year ended 30 April 2024 11. Analysis of charilable funds Unrestricied funds At 1 May 2023 Al Income Expenditure 30 April 2024 General funds 4.800 42.601 {37,807) 9,594 At 1 May 2022 At Income Expenditure 30 April 2023 General funds 2,897 44.027 {42,124) 4,800 12. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets 9,594 9,594 Unrestricted Total Funds Funds 2023 Current assets 13. Analysis of changes in net debl At At 1 May 2023 Cash flows 30 Apr 2024 Cash at bank and in hand 4.485 4,794 9,279 12