COMPANY REGISTRATION NUMBER: RS008368 CHARITY REGISTRATION NUMBER: SC050392
R-evolution For Good Limited
Financial Statements
30 June 2024
- 18 North Street, Glenrothes, Fife KY7 5NA 01592 610388 8 Mitchell Street, Leven, Fife KY8 4HJ 01333 425250 www.patersonboyd.com
PB AUDIT LIMITED REGISTERED AUDITORS
R-evolution For Good Limited
Financial Statements
Year ended 30 June 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent auditor's report to the Trustees | 5 |
| Statement of financial activities (including income and expenditure | |
| account) | 10 |
| Statement of financial position | 11 |
| Notes to the financial statements | 12 |
R-evolution For Good Limited
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2024
The Board of Directors, who are also the Trustees of the charity, present their report and the financial statements of the Society for the year ended 30 June 2024.
Reference and administrative details
Registered Society name R-evolution For Good Limited Charity registration number SC050392 Company registration number RS008368 Principal office and registered 26 Land Street office Rothes Moray AB38 7BA The Trustees Company Secretary Auditor PB Audit Limited Registered Auditors 18 North Street Glenrothes Fife KY7 5NA Bankers Royal Bank of Scotland 209 High Steet Elgin IV30 1DL
Structure, governance and management
R-evolution for Good is a Charitable Community Benefit Society registered in Scotland No. SC050392 & FCA Registered No. 008368, founded in 2020, to deliver training development to business and use 100% of the profit to support families experiencing poverty in Moray.
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R-evolution For Good Limited
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2024
Structure, governance and management (continued)
Recruitment and appointment of Trustees
The Rules of the Society govern the appointment of the Trustees, which is charged with the management of the Society in furtherance of its principal activity, fund management and financial affairs generally.
Objectives and activities
We offer top quality training and development to help businesses empower people to grow and develop. We then use the profit to support families experiencing poverty to make change through oneto-one coaching and counselling support. We offer bespoke training and development to businesses to meet their needs including food safety, customer service, manual handling and management.
Our Aim - to end child poverty for good, changing the world one family at a time. Seriously ambitious, we know, but we are passionate and determined to make a difference to the children in our communities.
Our Mission - Build a strong and successful business, delivering training and development to empower people.
Work with families one-to-one in a dignified way to help them reach their potential.
Create a community-owned and led organisation where the shareholders can help deliver our vision.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
R-evolution for Good has a huge amount to be proud of. We began delivering our free counselling service in March 2020, and have supported over 150 adults and 50 children, totalling over 2,300 hours of counselling. We've also supported 27 counsellors, with 17 having completed their diplomas to become fully qualified counsellors so far. Our PDA SQA qualification has seen 11 new children and young people counsellors in the North-East too. In our coaching work, also since March 2020, we've supported over 140 adults and 90 children, offering over 2,800 hours of coaching. This work includes Responsibility and Action on Domestic Abuse with R-evolution (RADAR) delivering coaching with perpetrators of domestic abuse. We've also delivered coaching courses, helping 30 individuals become qualified coaches.
Financial review
The Statement of Financial Position of the Society as detailed on page 11 shows total funds of the Society of £54,233 as at 30 June 2024. This amount includes share capital of £16,625. Net movement in funds for the year was a decrease of £19,752 as detailed in the Statement of Financial Activities on page 10.
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R-evolution For Good Limited
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2024
Plans for the future period
We have a draft instrument of dissolution prepared signed by the members that will be sent to FCA once we have submitted these accounts. We have permission from OSCR to wind up the charity and once the dissolution has been agreed all shares will be transferred to the individuals or donated to Moray School Bank as instructed by the Shareholders. We will then close the bank account and the Organisation will be closed.
Trustees' responsibilities statement
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).
Under Co-operative and Community Benefit Society legislation the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Society and the income and expenditure of the Society for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Society will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Society's transactions and disclose with reasonable accuracy at any time the financial position of the Society and enable them to ensure that the financial statements comply with the Cooperative and Community Benefit Societies Act 2014. They are also responsible for safeguarding the assets of the Society and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a Trustee at the date of approval of this report confirms that:
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so far as they are aware, there is no relevant audit information of which the Society's auditor is unaware; and
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they have taken all steps that they ought to have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the Society's auditor is aware of that information.
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R-evolution For Good Limited
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2024
The Trustees' annual report was approved on 30 January 2025 and signed on behalf of the board of Trustees by:
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R-evolution For Good Limited
Independent Auditor's Report to the Trustees of R-evolution For Good Limited (continued)
Year ended 30 June 2024
Opinion
We have audited the financial statements of R-evolution for Good Limited (the 'Society') for the year ended 30 June 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the Society's affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Co-operative and Community Benefit Societies Act 2014, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Society in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Society's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
We draw attention to note 3 in the financial statements, which indicates the Society has a draft instrument of dissolution prepared and have had permission from OSCR to wind up the Society. Our opinion is not modified in respect of this matter.
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R-evolution For Good Limited
Independent Auditor's Report to the Trustees of R-evolution For Good Limited (continued)
Year ended 30 June 2024
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Other matter
The 2023 comparative figures in the financial statements are unaudited as no audit was carried out in the prior year.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Society and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which the Co-operative and Community Benefit Societies Act 2014 requires us to report to you if, in our opinion:
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the Society has not kept proper books of account or has not maintained a satisfactory system of control over its transactions; or
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the financial statements are not in agreement with the Society's books of account; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we fail to obtain all the information and explanations which, to the best of our knowledge and belief, are necessary for the purposes of our audit.
Responsibilities of Trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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R-evolution For Good Limited
Independent Auditor's Report to the Trustees of R-evolution For Good Limited (continued)
Year ended 30 June 2024
In preparing the financial statements, the Trustees are responsible for assessing the Society's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Society or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the Society and industry, we identified that the principal risks of noncompliance with laws and regulations related to breaches of UK regulations and prohibited business practices, and we considered that the extent to which non-compliance might have a material effect on the financial statements. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override controls) and determined that the principal risks were related to the potential posting of inappropriate journal entries to manipulate financial results and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
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Enquiry of management, those charged with governance around actual and potential litigation and claims.
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Reviewing minutes of meetings of those charged with governance including the Trustees.
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Evaluation and testing of the operating effectiveness of management's controls designed to prevent and detect irregularities.
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Identifying and testing journal entries based on risk criteria.
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Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing.
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Testing transactions entered into outside of normal course of operation.
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Investigated the rationale behind significant or unusual transactions.
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Reviewed accounting estimates for evidence of bias.
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Performed analytical review and sample testing of income.
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Agreed financial statement disclosures to supporting documentation.
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R-evolution For Good Limited
Independent Auditor's Report to the Trustees of R-evolution For Good Limited (continued)
Year ended 30 June 2024
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
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Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Society's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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R-evolution For Good Limited
Independent Auditor's Report to the Trustees of R-evolution For Good Limited (continued)
Year ended 30 June 2024
Use of our report
This report is made solely to the Society's Trustees, as a body, in accordance with section 87 of the Cooperative and Community Benefit Societies Act 2014. Our audit work has been undertaken so that we might state to the Society's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Society and the Society's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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PB Audit Limited Registered Auditors 18 North Street Glenrothes Fife KY7 5NA
PB Audit Limited are eligible to act as auditors under the terms of Section 1212 of the Companies Act 2006.
Date: 30 January 2025
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R-evolution For Good Limited
Statement of Financial Activities (including income and expenditure account)
Year ended 30 June 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 500 | – | 500 | – |
| Charitable activities | 5 | 5,110 | 129,061 | 134,172 | 261,675 |
| Total income | 5,610 | 129,061 | 134,671 | 261,675 | |
| = | = | = | = | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 30,184 | 124,239 | 154,423 | 245,060 |
| Total expenditure | 30,184 | 124,239 | 154,423 | 245,060 | |
| = | = | = | = | ||
| Net (expenditure)/income and net | |||||
| movement in funds | (24,574) | 4,822 | (19,752) | 16,615 | |
| = | = | = | = | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 56,063 | 1,297 | 57,360 | 40,745 | |
| Total funds carried forward | 31,489 | 6,119 | 37,608 | 57,360 | |
| = | = | = | = |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 12 to 20 form part of these financial statements.
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R-evolution For Good Limited
Statement of Financial Position
30 June 2024
| Note Fixed assets Tangible fixed assets 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Net assets Funds of the Society Restricted funds Unrestricted funds Subtotal Share capital Total Society funds 19 |
2024 £ 1,700 56,366 58,066 5,023 |
£ 1,190 53,043 54,233 54,233 = 6,119 31,489 37,608 16,625 54,233 = |
2023 £ 1,586 7,998 173,732 |
2023 £ 1,586 7,998 173,732 |
|---|---|---|---|---|
| 181,730 109,431 |
||||
| 72,299 | ||||
| 73,885 | ||||
| 73,885 = 1,297 56,063 |
||||
| 57,360 16,525 |
||||
| 73,885 = |
These financial statements were approved by the board of Trustees and authorised for issue on 30 January 2025, and are signed on behalf of the board by:
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The notes on pages 12 to 20 form part of these financial statements.
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
1. General information
The Society is a community benefit Society under the Financial Conduct Authority (FCA), registered in Scotland. The address of the registered office is 26 Land Street, Rothes, Moray, AB38 7BA.
2. Statement of compliance
These financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
3. Accounting policies
Basis of preparation
R-evolution for Good Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost of transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 Society 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.
The trustees have a draft instrument of dissolution prepared signed by the members that will be sent to FCA once these accounts have been submitted. The Trustees have had permission from OSCR to wind up the Society and once the dissolution has been agreed, then the remaining reserves will be donated to a charity and shares will be transferred to the individuals or donated to a charity with a similar purpose.
Taxation
The Society is exempt from tax on income and gains falling within sections 471 - 571 of the Corporation Tax Act 2010 or s256 of the Taxations of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Society.
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees to further any of the Society's purposes.
Designated funds are unrestricted funds earmarked by the Trustees 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.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the Society; it is probable that the economic benefits associated with the transaction will flow to the Society and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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voluntary income including donations, gifts, legacies and grants that provide core funding or are of general nature is recognised when the Society has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
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deferred income represents amounts received for future periods and is released to income resources in the period for which it has been received. Such income is only deferred when the donor specifies that the grant of donation must only be used in future accounting periods; or if the donor has imposed conditions which must be met before the Society has unconditional entitlement.
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charitable activities income comprises residents’ board income for the provision of their accommodation and support. This income is credited to the statement of financial activities on a receivables basis.
Resources expended
All expenditure is recognised once there is a legal 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:
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
3. Accounting policies (continued)
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charitable expenditure comprises those costs incurred by the Society 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 to support them.
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support costs include central functions and have been allocated to activity cost categories on a basis which is consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
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governance costs are costs attributable to the Society’s compliance with constitutional and statutory requirements, including audit, Trustee meetings and reimbursed expenses.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Other creditors
Other creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The Society only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at their transaction value and are subsequently measured at their settlement value.
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
3. Accounting policies (continued)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Donations and legacies
| 4. | Donations and legacies | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations receivable | 500 | – | 500 | |
| = | = | = | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations receivable | – | – | – | |
| = | = | = | ||
| 5. | Charitable activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | £ | |
| Sale of services as part of direct charitable activities | 5,110 | – | 5,110 | |
| Third Sector Interim | – | 21,100 | 21,100 | |
| The Robertson Trust | – | 10,000 | 10,000 | |
| The Joint Community Youth | – | 691 | 691 | |
| The National Lottery | – | 95,769 | 95,769 | |
| Share Marketing | – | 1,502 | 1,502 | |
| MERI Funding | – | – | – | |
| ──────── | ─────────── | ─────────── | ||
| 5,110 | 129,062 | 134,172 | ||
| ════════ | ═══════════ | ═══════════ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Sale of services as part of direct charitable activities | 147,856 | – | 147,856 | |
| Third Sector Interim | – | 4,000 | 4,000 | |
| The Robertson Trust | – | 20,000 | 20,000 | |
| The Joint Community Youth | – | 2,309 | 2,309 | |
| The National Lottery | – | 75,076 | 75,076 | |
| Share Marketing | – | 3,434 | 3,434 | |
| MERI Funding | – | 9,000 | 9,000 | |
| ─────────── | ─────────── | ─────────── | ||
| 147,856 | 113,817 | 261,675 | ||
| ═══════════ | ═══════════ | ═══════════ |
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
6. Expenditure on charitable activities by fund type
| Unrestricted | Unrestricted | Restricted | Total Funds | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2024 | ||||||
| £ | £ | £ | ||||||
| Coaching/Counselling services | 26,585 | 124,029 | 150,614 | |||||
| Support costs | 3,599 | 210 | 3,809 | |||||
| 30,184 | 124,239 | 154,423 | ||||||
| = | = | = | ||||||
| Unrestricted | Restricted | Total Funds | ||||||
| Funds | Funds | 2023 | ||||||
| £ | £ | £ | ||||||
| Coaching/Counselling services | 130,677 | 111,383 | 242,060 | |||||
| Support costs | – | 3,000 | 3,000 | |||||
| -------------------------------------- | -------------------------------------- | -------------------------------------- | ||||||
| 130,677 | 114,383 | 245,060 | ||||||
| = | = | = | ||||||
| 7. | Expenditure on charitable activities by activity type | |||||||
| Activities | ||||||||
| undertaken | Support | Total funds | Total fund | |||||
| directly | costs | 2024 | 2023 | |||||
| £ | £ | £ | £ | |||||
| Coaching/Counselling services | 150,614 | – | 150,614 | 242,060 | ||||
| Governance costs | – | 3,809 | 3,809 | 3,000 | ||||
| 150,614 | 3,809 | 154,423 | 245,060 | |||||
| = | = | = | = | |||||
| 8. | Analysis of support costs | |||||||
| Analysis of | ||||||||
| support costs | Total 2024 | Total 2023 | ||||||
| £ | £ | £ | ||||||
| Governance costs | 3,809 | 3,809 | 3,000 | |||||
| ════════ | ════════ | ════════ | ||||||
| 9. | Net (expenditure)/income | |||||||
| Net (expenditure)/income is stated after charging/(crediting): | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Depreciation of tangible fixed assets | 396 | 529 | ||||||
| = | = | |||||||
| 10. | Auditors remuneration | |||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Fees payable for the audit of the financial statements | 3,600 | – | ||||||
| = | = |
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
11. Independent examination fees
| Fees payable to the independent examiner for: 2024 £ Independent examination of the financial statements – Other financial services – – = |
2023 £ 2,242 758 3,000 = |
|---|---|
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Wages and salaries Social security costs Employer contributions to pension plans |
2024 £ 111,721 3,973 2,338 118,032 = |
2023 £ 169,978 8,085 3,488 |
|---|---|---|
| 181,551 = |
The average head count of employees during the year was 5 (2023: 9).
No employee received employee benefits of more than £60,000 during the year (2023: Nil)
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the Society. The total compensation paid to key management personnel for services provided to the Society was £23,749 (2023: £23,351).
13. Trustee remuneration and expenses
One or more Trustees has been paid remuneration or received other benefits from employment with the Society or a related entity, totalling £21,568 (2023: £21,214), employer pension contributions totalling £460.
14. Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Plant and | |
| machinery | |
| £ | |
| Cost | |
| At 1 Jul 2023 and 30 Jun 2024 | 2,736 |
| = | |
| Depreciation | |
| At 1 Jul 2023 | 1,150 |
| Charge for the year | 396 |
| At 30 Jun 2024 | 1,546 |
| = | |
| Carrying amount | |
| At 30 Jun 2024 | 1,190 |
| = | |
| At 30 Jun 2023 | 1,586 |
| = |
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R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
15. Debtors
| Debtors | ||
|---|---|---|
| Trade debtors Prepayments and accrued income Creditors: amounts falling due within one year Accruals and deferred income Social security and other taxes Other creditors Deferred income At 1 July 2023 Amount released to income Amount deferred in year At 30 June 2024 |
2024 £ 1,700 – 1,700 = 2024 £ 3,600 1,273 150 5,023 = 2024 £ 105,961 (105,961) – – = |
2023 £ 6,243 1,755 7,998 = 2023 £ 108,055 1,226 150 |
| 109,431 = 2023 £ – – 105,961 |
||
| 105,961 = |
16. Creditors: amounts falling due within one year
17. Deferred income
Deferred income relates to grant income received in 2023 which was for the 2023/2024 year.
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,338 (2023: £Nil).
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | |||||||
| At | 1 | Jul 2023 | Income | Expenditure | Transfers | 30 Jun 2024 | |
| £ | £ | £ | £ | £ | |||
| General funds | 56,063 | 5,610 | (30,184) | – | 31,489 | ||
| = | = | = | = | = | |||
| At | |||||||
| At | 1 | Jul 2022 | Income | Expenditure | Transfers | 30 Jun 2023 | |
| £ | £ | £ | £ | £ | |||
| General funds | 39,448 | 147,856 | (130,677) | (564) | 56,063 | ||
| = | = | = | = | = |
- 18 -
R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
19. Analysis of charitable funds (continued)
Restricted funds
| At 1 Jul 2023 £ Share Marketing 1,297 Third Sector Interim – The Robertson Trust – The National Lottery – The Joint Community Youth – MERI Funding – 1,297 = At 1 Jul 2022 £ Share Marketing 1,297 Third Sector Interim – The Robertson Trust – The National Lottery – The Joint Community Youth – MERI Funding – --------------------------- 1,297 = |
At Income Expenditure Transfers 30 Jun 2024 £ £ £ £ 1,501 (2,798) – – 21,100 (14,981) – 6,119 10,000 (10,000) – – 95,769 (95,769) – – 691 (691) – – – – – – 129,061 = (124,239) = – = 6,119 = At Income Expenditure Transfers 30 Jun 2023 £ £ £ £ 3,434 (3,998) 564 1,297 4,000 (4,000) – – 20,000 (20,000) – – 75,076 (75,076) – – 2,309 (2,309) – – 9,000 -------------------------------------- (9,000) -------------------------------------- – --------------- – --------------------------- 113,819 = (114,383) = 564 = 1,297 = |
|---|---|
Share Marketing - To assist with the second share offer. Third Sector Interim - Funds to deliver men's space project.
The Robertson Trust - Funds to help with the coaching project.
The National Lottery - Funds to help with the coaching project.
The Joint Community Fund - Funds to help with the delivery of the diabetes outing.
MERI Funding - Funds to help with the delivery of the coaching project.
20. Share capital
| Share capital | ||
|---|---|---|
| Ordinary shares of par value of £1 each | 2024 | 2023 |
| £ | £ | |
| At 1 July 2023 | 16,525 | 16,625 |
| Ordinary shares issued | 100 | – |
| Ordinary shares repaid | – | (100) |
| At 30 June 2024 | 16,625 | 16,525 |
| = | = |
- 19 -
R-evolution For Good Limited
Notes to the Financial Statements (continued)
Year ended 30 June 2024
20. Share capital (continued)
During the year, 100 ordinary shares of £1 each were issued and fully paid.
21. Analysis of net assets between funds
| Unrestricted | Restricted | Restricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,190 | – | 1,190 | ||
| Current assets | 30,299 | 27,767 | 58,066 | ||
| Creditors less than 1 year | – | (5,023) | (5,023) | ||
| Net assets | 31,489 | 22,744 | 54,233 | ||
| = | = | = | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,586 | – | 1,586 | ||
| Current assets | 54,477 | 127,254 | 181,731 | ||
| Creditors less than 1 year | – | (109,432) | (109,432) | ||
| Net assets | 56,063 | 17,822 | 73,885 | ||
| = | = | = | |||
| **22. ** | Financial instruments | ||||
| The carrying amount for each category of financial instrument is as follows: | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Financial assets that are debt instruments measured at amortised cost | |||||
| Financial assets that are debt instruments measured at amortised | |||||
| cost | 58,066 | 181,730 | |||
| = | = | ||||
| Financial liabilities measured at amortised cost | |||||
| Financial liabilities measured at amortised cost | 5,023 | 109,432 | |||
| = | = |
23. Related parties
During the year, R-evolution for Good paid £280 for travel expenses to related parties (2023: nil).
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