Charity registration number SC002223 (Scotland)
Company registration number SC165004 (Scotland)
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr M Goodlad
Mr W J Munro
Mr S Macindoe
Ms G Slessor
Senior Management Team
Mrs S Green, Chief Executive
Management Committee
Mr A Green
Mr M Goodlad
Ms T Webster
(Appointed April 2022)
Mr W J Munro
Ms G Slessor
Mr S Rennie
(Resigned April 2022)
Dr K Lawton
Mr S Macindoe
Secretary
Mr A Green
Charity number (Scotland)
SC002223
Company number
SC165004
Principal address
5 St Machar Drive
Aberdeen
Scotland
AB24 3YJ
Registered office
5 St Machar Drive
Aberdeen
Scotland
AB24 3YJ
Auditor
Findlays Audit Limited
11 Dudhope Terrace
Dundee
DD3 6TS
Bankers
Bank of Scotland PLC
39 Albyn Place
Aberdeen
AB10 1YN
Solicitors
Gavin Bain
432 Union Street
Aberdeen
AB10 1TR
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Trustees' report
1 - 5
Statement of trustees' responsibilities
6
Independent auditor's report
7 - 10
Statement of financial activities
11
Balance sheet
12
Statement of cash flows
13
Notes to the financial statements
14 - 30
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

The principal objective of the charity is to provide material support, practical assistance, and advice, to some of the neediest people in the City of Aberdeen and Aberdeenshire. The charity achieves its objective by assisting people at particular times in their lives, including:

 

 

The projects employed by the charity to meet these objectives included the following:

 

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Achievements and performance

Living Wage Employer

 

Instant Neighbour was proud to become a Real Living Wage Employer during the year demonstrating our commitment to promoting fairness, equality, and dignity for all workers offering several benefits, both for the charity and our employees:

 

 

Employment and Training Opportunities

 

During the year Instant Neighbour employed 21 staff (14 full-time and 7 part-time).

 

We continued to consult with ABZWorks and other employment support organisations regarding the provision of work experience, volunteering, and part time employment opportunities for vulnerable individuals. We successfully supported 52 short term placements during the period.

With support from ABZWorks Development Fund we recruited a volunteer co-ordinator to increase our ability to welcome and support our volunteers. This includes conducting skills audits, providing external learning opportunities and assisting in getting them back into mainstream employment. We had 7 volunteers with us throughout the year, it is pleasing to note that 2 others moved on to paid employment elsewhere. Some of these individuals had suffered redundancy and were seeking to keep busy whilst looking for employment, others had disabilities limiting their employment opportunities. Volunteering with Instant Neighbour is recognised by many as an excellent way of building and maintaining self-esteem and developing new skills whilst preparing to take the next step in their employment.

 

Information and Advice

 

Our staff provide information and advice to those in need on a regular basis. Advice is sought on a variety of topics but mainly in relation to applications for appropriate financial support. We maintain our knowledge of current policy and legislation via a network of online bulletins and attending relevant external meetings and training events.

Furniture Sale and Redistribution

 

We collect good quality donated furniture and white goods from across Aberdeen City and Aberdeenshire. Most of the furniture is sold at modest prices via our online shop and our 2 retail outlets in Aberdeen. The income generated from furniture sales contributes to the running of the organisation and its charitable activities whilst diverting a substantial quantity of furniture and white goods from landfill. In the period we were able to divert a total of 104 tonnes of material from landfill.

In addition to the financial benefits to Instant Neighbour and the environmental benefits to the City and surrounding areas, our retail outlets provide valuable employment opportunities. Individuals who are furthest away from employment are offered an opportunity to obtain new skills and enhance their curriculum vitae.

Instant Neighbour is Revolve accredited and a member of the Circular Communities Scotland Consortium providing good quality reuse furniture and white goods to Aberdeen City Council and Aberdeenshire Council for their tenant properties. Over 30 beds and 25 sofas were supplied via the Consortium in the period to help fit out properties.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

Furniture Removal and Storage Contracts

 

Instant Neighbour has successfully operated furniture removal and storage contracts on behalf of Aberdeen City Council (ACC) and Aberdeenshire Council (ASC) for over 20 years and 3 years, respectively. These contracts provide a vital service to ACC / ASC tenants who sadly, for several reasons, have been evicted from their property and have had to seek temporary accommodation. The furniture is professionally stored at Instant Neighbour operated sites and returned to the owner when they secure future permanent accommodation. During what are undoubtedly challenging times recipients of this service are assured that their furniture and other belongings are in safe and secure storage and can be returned to them quickly at the appropriate time. Across the City and Shire, 371 collection and storage requests were completed, and 411 removals were carried out directly between premises in the period.

Emergency Food parcel

 

Instant Neighbour continued to operate its emergency food parcel service for clients which it has done for the past 39 years. We are extremely grateful to church groups, primary schools, local businesses, and members of the public for their continued support for our foodbank. Regular donations of milk, cereal and bread from other charities and manufacturers continued to be received and were used to supplement basic food parcels. An increasing number of donations is being received via our PayPal account with the specific request for the money to be spent on food. This is a convenient way for donations to be given and received and allows us the flexibility to purchase food items when they are needed.

In the period, approximately 7500 food parcels were distributed to around 2000 clients. Levels of demand are essentially unchanged from last financial year and still well above levels we saw pre the COVID-19 pandemic. The reasons for accessing the foodbank are various but the 5-week delay between applying for and receiving Universal Credit payments remains a major challenge. Lengthy delays to claim decisions regarding Disability Payments or Personal Independence Payments are also cited by clients as reasons for accessing our foodbank. Our Community Connector Project continues to provide support and advice to foodbank clients regarding benefit eligibility and applications.

Instant Neighbour also facilitates fuel top ups for electricity and gas under the LEAP scheme from local government. We issued top ups totalling £7450 in the period which three times the previous year total.

Carpetinc

Instant Neighbour supplies new carpets at competitive prices along with a professional fitting service. 70 jobs were undertaken in the period.

Joinerinc

Instant Neighbour employs a qualified joiner and can provide professional joinery services at competitive prices to clients and members of the public. 92 jobs were completed in the period.

Children's Services

 

The Instant Neighbour flagship Christmas appeal, The Giving Tree, has been running for the past 33 years and in that time distributed over 145,000 parcels to children in local communities. The support from the public and donor organisations was as strong as ever and we were delighted to be able to distribute over 12000 gifts to 3700 young people across Aberdeen City and Shire. We are extremely grateful to support organisations who assist with the distribution of the gifts in their local areas, and we also gratefully acknowledge the work and support of our volunteers who helped with receiving, sorting and packing the gifts.

IT Investments

Instant Neighbour undertook a review of its information management systems and has now adopted Microsoft Dynamics 365 to enable consolidation of several legacy systems and databases. This move will improve management of our client/customer relationships, drive efficiencies and improve reporting and analysis.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

We continue to develop and grow our digital marketing channels to ensure we connect with as wide a spectrum of the public as possible to promote what Instant Neighbour does, who its supports, and how individuals can help us provide that support.

Environmental Responsibility

In addition to our recycling operations, we regularly review opportunities for other environmental initiatives.

In this regard we installed solar panels at our St. Machar Drive premises. By harnessing solar energy, we are contributing to a sustainable future, helping to mitigate climate change and promoting eco-friendly practices. The savings made in our energy costs will be redirected to support our clients.

Financial review

 

The accounts show a deficit of £73,497 (2023 - £19,239 surplus).

Reserves Policy

 

Free unrestricted reserves, excluding fixed assets at the year end is around 1.5 months of resources expended. The Directors and Management Committee would like to increase the reserves in the future.

 

As at March 2024, the charity had reserves of £467,400 (2023 - £540,897) of which £67,727 (2023 - £37,743) are restricted against an annual spend of £290,924 (2023 - £357,325). The balance held as unrestricted funds at 31st March 2024 was £399,673 (2023 - £503,154) of which £94,027 (2023 - £186,694) is regarded as free reserves, after allowing for funds retained in tangible fixed assets and designated reserves. Unrestricted designated reserves includes £10,000 (2023 - £NIL) for the purpose of future IT and building improvements.

 

The value of tangible fixed assets held within restricted funds is £39,527 (2023 - £10,406) and within unrestricted funds is £295,646 (2023 - £326,866).

Principal funding sources

 

The principal funding sources for the charity in the period were by way of contract income from Aberdeen City Council, Aberdeenshire Council, sale of second-hand furniture, government and private grants and donations from the public.

Plans for future periods

The charity will continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. The ongoing development of the charity’s online retail sales outlet and digital presence will be the priority projects during the next financial year.

Structure, governance and management

Instant neighbour is a charitable company limited by guarantee, incorporated on 18 April 1996, and registered as a charity on 18 April 1996. the company was established under a Memorandum of Association, which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr M Goodlad
Mr W J Munro
Mr S Macindoe
Ms G Slessor
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -

Recruitment and appointment of directors and management committee

 

The Management Committee comprises local people from a range of backgrounds, who bring a variety of expertise to the charity. Several Members also hold the position of Company Director and therefore have legal and financial responsibilities for the charity.

Directors and Management Committee induction and training

 

Most of the Management Committee are already familiar with the work of the charity having been encouraged to spend time with staff to understand their work.

 

Ongoing training alongside the staff is offered and well received.

Risk Management

 

Instant Neighbour has been in existence for over 30 years and regularly reviews its strategy, considering future developments, risks, and management. It is fortunate to own its headquarter premises in St Machar Drive. There is a continuous drive on cost efficiency which includes considering the overall costs of running the charity and seeking suitable alternative suppliers where appropriate.

 

 

Organisational Structure

 

Oversight of Instant Neighbour and the development of objectives and strategy is the responsibility of its Members in the form of The Management Committee. Day to day responsibility is delegated to The Chief Executive who is responsible for ensuring that the charity achieves its objectives as set out in the annual operating plan. The committee meets circa every six weeks to review operational performance, discuss recommendations from The Chief Executive and, when necessary, approve strategic changes.

 

Related Parties

 

In so far as it is complementary to the charity's objectives, the charity is guided by both local and national policy. The charity is represented on several external groups which include: The Homelessness Strategy Group, The Food Poverty Action Aberdeen, the local Employability Forum, the local Social Enterprise Network. The Chief Executive is also Chair of the Social Entrepreneur Network in Scotland and a attends, as an external advisor, the Anti-Poverty and Inequality Committee of Aberdeen City Council.

Auditor

In accordance with the company's articles, a resolution proposing that Findlays Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Mr W J Munro
Trustees
6 November 2024
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -

The trustees, who are also the directors of Instant Neighbour Aberdeen for the purpose of company law, 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).

 

Company Law requires the trustees to prepare financial statements for each financial 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, including the income and expenditure, of the charitable company for that year.

 

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 Charities SORP;

 

- make judgements and 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; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that 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 and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. 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.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS AND TRUSTEES OF INSTANT NEIGHBOUR ABERDEEN
- 7 -

Opinion

We have audited the financial statements of Instant Neighbour Aberdeen (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006, 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 charity 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 charity’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.

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 contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF INSTANT NEIGHBOUR ABERDEEN
- 8 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

-

adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-
certain disclosures of trustees' remuneration specified by law are not made; or
-

we have not received all the information and explanations we require for our audit; or

-

the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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. In preparing the financial statements, the trustees are responsible for assessing the charity’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF INSTANT NEIGHBOUR ABERDEEN
- 9 -

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 miss-statements in respect of irregularities, including

fraud and non compliance with laws and regulations is detailed below.

 

The audit team has appropriate skills and expertise required and through discussions with management and

trustees and knowledge of the sector to ensure any non compliance is recognised and all necessary disclosures are

made. The controls in place help the charity mitigate the risk of fraud and also aids them in highlighting instances of fraud that might have occurred.

 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

  • Making enquiries of management about any known or suspected instances of non compliance with laws and regulations, including GDPR, employment law and fraud

  • Review of correspondence with regulators including OSCR and HMRC

  • Review of legal fees expenditure and Board minutes

  • Challenging assumptions and judgements made by management in their significant accounting estimates including fixed asset depreciation, food parcels and giving tree parcels and allocation of overheads

  • Auditing the risk of management override controls, including through testing of journal entries and other adjustments for appropriateness

  • Review of any areas where there is management bias, large and unusual transactions and the risk of undisclosed related parties

 

Because of the field in which the client operates we identified the following areas as those most likely to have a material impact on the financial statements;

 

Direct Impact on financial statements:

  • Companies Act 2006

  • FRS 102

  • SORP 2019

  • Charities and Trustees Investment (Scotland) Act 2005

  • Charities Accounts Regulations 2006

  • Terms and conditions stipulated in grant funding

 

Indirect impact on financial statements:

  • Employment laws

  • GDPR

  • Charities constitution

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charity’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and 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 charitable company, the charitable company’s members as a body,and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF INSTANT NEIGHBOUR ABERDEEN
- 10 -
Lesley Campbell, BA, C.A. (Senior Statutory Auditor)
for and on behalf of Findlays Audit Limited
Chartered Accountants
Statutory Auditor
11 Dudhope Terrace
Dundee
Scotland
DD3 6TS
6 November 2024

Findlays Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
285,024
320,908
605,932
325,849
348,816
674,665
Charitable activities
4
237,040
-
237,040
201,606
-
201,606
Other trading activities
5
288,571
-
288,571
290,585
-
290,585
Investments
6
1,728
-
1,728
-
-
-
Other income
7
2,171
-
2,171
13
-
13
Total income
814,534
320,908
1,135,442
818,053
348,816
1,166,869
Expenditure on:
Raising funds
8
168,048
10,518
178,566
135,429
18,488
153,917
Charitable activities
9
749,967
280,406
1,030,373
654,876
338,837
993,713
Total expenditure
918,015
290,924
1,208,939
790,305
357,325
1,147,630
Net income/(expenditure) and movement in funds
(103,481)
29,984
(73,497)
27,748
(8,509)
19,239
Reconciliation of funds:
Fund balances at 1 April 2023
503,154
37,743
540,897
475,406
46,252
521,658
Fund balances at 31 March 2024
399,673
67,727
467,400
503,154
37,743
540,897

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
15
335,173
326,866
Current assets
Stocks
16
23,601
32,204
Debtors
17
92,791
62,498
Cash at bank and in hand
110,130
191,120
226,522
285,822
Creditors: amounts falling due within one year
20
(75,930)
(63,356)
Net current assets
150,592
222,466
Total assets less current liabilities
485,765
549,332
Creditors: amounts falling due after more than one year
21
(18,365)
(8,435)
Net assets excluding pension liability
467,400
540,897
Net assets
467,400
540,897
The funds of the charity
Restricted income funds
25
67,727
37,743
Unrestricted funds
399,673
503,154
467,400
540,897

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 6 November 2024
Mr W J  Munro
Trustees
Company registration number SC165004 (Scotland)
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
29
(63,622)
47,091
Investing activities
Purchase of tangible fixed assets
(40,493)
-
Proceeds from disposal of tangible fixed assets
13,000
-
Investment income received
1,728
-
Net cash used in investing activities
(25,765)
-
Financing activities
Repayment of borrowings
21,719
-
Payment of finance leases obligations
(13,322)
(4,871)
Net cash generated from/(used in) financing activities
8,397
(4,871)
Net (decrease)/increase in cash and cash equivalents
(80,990)
42,220
Cash and cash equivalents at beginning of year
191,120
148,900
Cash and cash equivalents at end of year
110,130
191,120
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
1
Accounting policies
Charity information

Instant Neighbour Aberdeen is a private company limited by guarantee incorporated in Scotland. The registered office is 5 St Machar Drive, Aberdeen, AB24 3YJ, Scotland.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

 

Income from donated goods is measured at the fair value of the goods unless it is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Food parcels are estimated at £15 per parcel and Giving Tree parcels at £25 per gift (at an average of three gifts per child).

 

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 contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

 

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it related:

 

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 allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Only items above the capitalisation limit of £1,000 are capitalised.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
50 years / 10 years
Plant and equipment
6 years
Computers
3 years
Motor vehicles
4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

 

Donated goods are valued at the estimated sales value of the individual items.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 16 -
1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources, which currently include depreciation, food parcels and Giving Tree parcels. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements
Depreciation

Tangible fixed assets are depreciated over a period to reflect their estimated useful lives. The applicability of the assumed lives is reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.

 

Fixed assets are also assessed as to whether there are indictors of impairment. This assessment involves consideration of the economic viability of the purpose for which the asset is used.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Critical accounting estimates and judgements
(Continued)
- 17 -
Food parcels and Giving Tree parcels

Food parcels are based on 8-12 items of food at an average cost of £20 with the Giving Tree parcels estimated at an average of gifts per child totaling £25 - £30.

Allocation of wages

Wages are allocated across projects both on a direct basis and a percentage basis, Where salaries are funded, the allocation of wages is direct. For employees involved in several projects, the salaries are allocated on a percentage basis.

Allocation of support costs

Support costs are not related directly to charitable activities but support the general running of the organisation. Support costs are allocated based on actual costs in regards to certain activities and a percentage basis based on income for insurance.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
50,385
7,953
58,338
104,257
12,164
116,421

Grants

27,639
97,570
125,209
14,592
82,200
96,792
Donated goods and services
207,000
215,385
422,385
207,000
254,452
461,452
285,024
320,908
605,932
325,849
348,816
674,665
Grants receivable for core activities
Bank of Scotland Foundation
4,639
30,924
35,563
3,092
30,924
34,016
Social Investment Grant
-
25,000
25,000
-
-
-
DWP Kickstart
-
-
-
-
9,479
9,479
St. Nicholas Church
-
-
-
-
20,414
20,414
National Lottery Community Fund
-
16,500
16,500
-
-
-
Shell Energy Efficient Fund
-
10,000
10,000
-
-
-
Aberdeen City - Covid Recovery Fund
-
-
-
-
7,500
7,500
ABZ Development Fund
-
10,000
10,000
-
-
-
Harbour Energy
10,000
-
10,000
-
-
-
Ina Sutherland Foundation
5,000
-
5,000
-
-
-
Other
8,000
5,146
13,146
11,500
-
25,383
27,639
97,570
125,209
14,592
82,200
96,792
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Charitable activities
Services provided under contract
237,040
201,606
5
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Shop income
234,513
241,134

CRNS sales

8,109
14,153

Joinery, carpet and removal income

45,949
35,298
Other trading activities
288,571
290,585
6
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
1,728
-
7
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net gain on disposal of tangible fixed assets
1,503
-
Other income
668
13
668
13
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
8
Expenditure on raising funds
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£

Trading costs

Operating charity shops

32,907
83
32,990
37,240
-
37,240

Other trading activities

21,199
-
21,199
17,371
144
17,515
Staff costs
113,942
10,435
124,377
80,818
18,344
99,162
168,048
10,518
178,566
135,429
18,488
153,917
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
9
Expenditure on charitable activities
Providing Support
Providing Support
2024
2023
£
£
Direct costs
Staff costs
261,127
249,528
Depreciation and impairment
20,690
22,126

Donated goods

422,385
461,452

Rates

2,629
2,584

Light and heat

17,625
8,425

Repairs and maintenance

4,150
7,585

Postage, stationery and advertising

4,904
2,397

Legal and professional

17,276
4,049

Cleaning and decoration

6,053
6,442

Interest payable

3,684
1,515

Bank charges

1,038
1,515

Covid 19 costs

-
200

Premises expenses

5,764
3,945

Motor and travel costs

52,511
37,481

The Giving Tree

6,922
9,320

Food bank expenses

17,831
16,115
Other charitable expenditure
11,937
5,534
856,526
840,213
Share of support and governance costs (see note 10)
Support
159,857
143,405
Governance
13,990
10,095
1,030,373
993,713
Analysis by fund
Unrestricted funds
749,967
654,876
Restricted funds
280,406
338,837
1,030,373
993,713
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
10
Support costs allocated to activities
2024
2023
£
£
Staff costs
118,629
112,680
Premises costs
23,021
15,347
Administration costs
18,207
15,378
Governance costs
13,990
10,095
173,847
153,500
Analysed between:
Providing Support
173,847
153,500
11
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
13,990
10,095
Depreciation of owned tangible fixed assets
20,690
22,126
Profit on disposal of tangible fixed assets
(1,503)
-
12
Trustees

One of the trustees S Macindoe (or any persons connected with them) received remuneration of £Nil (2023 - £1,146) for the provision of cover for delivery services during a short period. No other trustees (or any persons connected with them) received benefits from the charity during the year.

13
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Advice and support
6
9
Management and administration
8
4
Sales
7
8
Total
21
21
Employment costs
2024
2023
£
£
Wages and salaries
455,458
410,257
Social security costs
32,927
33,652
Other pension costs
15,748
17,461
504,133
461,370
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13
Employees
(Continued)
- 23 -
The number of employees whose annual remuneration was more than £60,000 is as follows:
2024
2023
Number
Number
1
1
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
67,343
64,205
14
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

15
Tangible fixed assets
Freehold property
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
442,149
6,082
5,684
46,245
500,160
Additions
37,330
-
3,163
-
40,493
Disposals
-
-
-
(35,745)
(35,745)
At 31 March 2024
479,479
6,082
8,847
10,500
504,908
Depreciation and impairment
At 1 April 2023
133,737
3,325
4,109
32,122
173,293
Depreciation charged in the year
14,577
1,013
2,474
2,626
20,690
Eliminated in respect of disposals
-
-
-
(24,248)
(24,248)
At 31 March 2024
148,314
4,338
6,583
10,500
169,735
Carrying amount
At 31 March 2024
331,165
1,744
2,264
-
335,173
At 31 March 2023
308,412
2,757
1,575
14,122
326,866
16
Stocks
2024
2023
£
£
Shop Stock
23,601
32,204
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 24 -
17
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
68,335
43,537
Other debtors
24,456
18,961
92,791
62,498
18
Loans and overdrafts
2024
2023
£
£
Other loans
21,719
-
Payable within one year
3,354
-
Payable after one year
18,365
-
Amounts included above which fall due after five years:
Payable by instalments
3,897
-
19
Finance lease obligations
Future minimum lease payments due under finance leases:
2024
2023
£
£
Within one year
-
4,887
Within two and five years
-
8,435
-
13,322
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
20
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
19
-
4,887
Borrowings
3,354
-
Other taxation and social security
13,787
17,119
Trade creditors
29,013
21,589
Other creditors
17,414
9,020
Accruals and deferred income
12,362
10,741
75,930
63,356

 

 

21
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
19
-
8,435
Borrowings
18,365
-
18,365
8,435
22
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
15,748
17,461

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

23
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
Building Development fund
-
-
-
10,000
10,000
General funds
503,154
814,534
(918,015)
(10,000)
389,673
503,154
814,534
(918,015)
-
399,673
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
23
Unrestricted funds
(Continued)
- 26 -
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
General funds
475,406
818,053
(790,305)
-
503,154

Building Development fund - To sustain future building and IT improvements that will improve services.

24
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
295,646
39,527
335,173
Current assets/(liabilities)
122,392
28,200
150,592
Long term liabilities
(18,365)
-
(18,365)
399,673
67,727
467,400
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
316,460
10,406
326,866
Current assets/(liabilities)
195,129
27,337
222,466
Long term liabilities
(8,435)
-
(8,435)
503,154
37,743
540,897
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 27 -
25
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Balance at
1 April 2023
Incoming resources
Resources expended
Balance at
31 March 2024
£
£
£
£
£
£
£
St. Nicholas Church
-
20,414
(20,414)
-
-
-
-
Asda Empowering Local Communities
-
818
(818)
-
-
-
-
Donated goods
-
254,452
(254,452)
-
215,385
(215,385)
-
The Giving Tree
2,594
2,556
(5,150)
-
3,690
(3,690)
-
Adapt & Thrive
28,779
-
(18,344)
10,435
-
(10,435)
-
Premises Assets
6,628
-
(4,476)
2,152
-
(2,152)
-
Upcycling Project
-
1,000
(144)
856
-
(140)
716
Foodbank
-
14,550
(10,000)
4,550
7,909
(8,195)
4,264
Bank of Scotland
-
30,924
(30,924)
9,462
30,924
(26,848)
13,538
Fuel fund
-
5,058
(4,407)
652
18,000
(10,710)
7,942
Technip UK
-
2,064
(2,064)
-
-
-
-
Solar Panel Fund
-
-
-
-
35,000
(3,733)
31,267
ABZ Development Grant
-
-
-
-
10,000
-
10,000
Aberdeen City Council
8,251
7,500
(6,115)
9,636
-
(9,636)
-
DWP Kickstart funding
-
9,479
(9,479)
-
-
-
-
46,252
348,816
(357,324)
37,743
320,908
(290,924)
67,727
INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 28 -
26
Restricted Funds

 

Purpose of Funds:

 

 

 

St Nicholas Church

Funding received to relieve poverty in the City of Aberdeen.

Empowering Communities

Funds received from Asda to offer digital access to people on low incomes with barriers to employment.

Donated goods

Donated goods include storage space, food, toys, furniture and other items donated by public for distribution.

The Giving Tree

Funding received from various sources to fund the purchase of toys at Christmas for disadvantaged children in the Aberdeenshire area.

Adapt & Thrive

To assist with funding marketing and development salaries.

Premises Assets

Funds received from various sources to help fund the purchase of new assets and relevant maintenance.

Upcycling Project

To assist with the upcycle of donated goods for the purpose of sale.

Foodbank

Funding received from various sources to allow for the purchase of food to help disadvantaged people in the Aberdeenshire area.

Bank of Scotland

Funding received from the Bank of Scotland Foundation to assist in the employment of a community liaison.

Fuel fund

Funding received to assist with utility bills.

Technip UK

Funds received for the purchase of a PAT tester.

Solar Panels

Funding received from various sources to fund the costs and installation relating to the Solar panels purchased for St Machar Drive.

ABZ Development Grant

Funding received to fund a part-time volunteer coordinator.

Covid Recovery Fund

Funds received from Aberdeen City Council to help with the purchase of Food, vegetables, fruit and cleaning products.

DWP Kickstart

Funds received from the government to support work placements for young people at risk of long-term unemployment.

 

 

 

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 29 -
27
Operating lease commitments
Lessee

 

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
51,886
926
Between two and five years
42,363
-
94,249
926
28
Related party transactions

Name of related party

WJ. Munro

Nature of relationship

Trustee

Transaction

During the year, WJ. Munro and wife made unrestricted donations of £734 (2023 - £NIL) to Instant Neighbour Aberdeen.

 

 

Name of related party

S. Macindoe

Nature of relationship

Trustee

Transaction

During the year, S. Macindoe received remuneration of £NIL (2023 - £1,146) in lieu of delivery drivers during a short period of cover.

 

 

Name of related party

G. Slessor

Nature of relationship

Trustee

Transaction

During the year, G. Slessor was refunded £NIL (2023 - £150) due to a prepaid event being cancelled in October 2022.

INSTANT NEIGHBOUR ABERDEEN
COMPANY LIMITED BY GUARANTEE
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 30 -
29
Cash generated from operations
2024
2023
£
£
(Deficit)/surpus for the year
(73,497)
19,239
Adjustments for:
Investment income recognised in statement of financial activities
(1,728)
-
Gain on disposal of tangible fixed assets
(1,503)
-
Depreciation and impairment of tangible fixed assets
20,690
22,126
Movements in working capital:
Decrease/(increase) in stocks
8,603
(12,312)
(Increase)/decrease in debtors
(30,293)
10,728
Increase in creditors
14,106
7,310
Cash (absorbed by)/generated from operations
(63,622)
47,091
30
Analysis of changes in net funds
At 1 April 2023
Cash flows
At 31 March 2024
£
£
£
Cash at bank and in hand
191,120
(80,990)
110,130
Loans falling due within one year
-
(3,354)
(3,354)
Loans falling due after more than one year
-
(18,365)
(18,365)
Obligations under finance leases
(13,322)
13,322
-
177,798
(89,387)
88,411
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