Charity registration number 1136584
Company registration number 07276977 (England and Wales)
EMMAUS NORFOLK AND WAVENEY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
EMMAUS NORFOLK AND WAVENEY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr C Brown
Mr P Coe
Mr D Daynes
Mr A Pinnington
Mr S Theobald
Mrs M Cubitt
(Appointed 16 November 2023)
Mr J Foster
(Appointed 16 November 2023)
Mr S Johnson
(Appointed 8 November 2023)
Mr N Watts
(Appointed 29 July 2023)
Senior management
Cecile Roberts
Charity number
1136584
Company number
07276977
Registered office
Belsey Bridge Road
Ditchingham
BUNGAY
Suffolk
United Kingdom
NR35 2DT
Auditor
Argents Audit Services Limited
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
Bankers
Lloyds Bank
PO Box 100
Andover
BX1 1LT
Co-operative Bank Plc
Po Box 250
Skelmersdale
WN8 6WT
Flagstone
1st Floor, Clareville House
26-27 Oxendon Street
London
SW1Y 4EL
EMMAUS NORFOLK AND WAVENEY
CONTENTS
Page
Trustees' report
1 - 4
Statement of trustees' responsibilities
5
Independent auditor's report
6 - 7
Statement of financial activities
8
Balance sheet
9 - 10
Statement of cash flows
11
Notes to the financial statements
12 - 23
EMMAUS NORFOLK AND WAVENEY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 June 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 Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are specifically restricted to the alleviation and relief of poverty, hardship and distress arising there from in accordance with the principles of the Emmaus movement.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake and have also considered the feedback from the companions within our community.

In achieving these objectives during the year, the charity has focussed on developing its Ditchingham site to become a destination centre for visitors and raising the charity’s profile in the local community so that the public have a better appreciation of the impacts and causes of homelessness. This not only drives footfall to its social enterprises, helping the charity to drive the generation of a surplus, that can be invested into programmes and projects to provide training and support to the formerly homeless people (companions) who live and work on the site, but has a significant beneficial impact on their well-being, self confidence and self-esteem. The range of skills and experience that our companions develop through working in our social enterprises equip them to meet their future life aspirations and re-integrate into and make an active contribution to the wider community. We have also focussed on fundraising and laying the foundations for our plans to increase the number and range of people we can support.

Threats & Future

The greatest threat to our future is the continuing economic uncertainty and the continuing upward pressure on our costs, coupled with the political uncertainty following the recent general election and changes that this may bring in terms of how both local and central government look to address the ever-increasing incidence of homelessness across the country. We have therefore continued to focus on tight cost control, but more importantly delivering maximum value throughout our activities both in terms of financial measures and the positive social impact we deliver for our companions. The increasing regulation of the social housing sector is also likely to drive up our overheads and we have invested during the year in enhanced systems to minimise its impact and demonstrate the value that we add to the lives and well-being of our companions.

 

EMMAUS NORFOLK AND WAVENEY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Financial review

The charity aims to balance its day-to-day operating budget. This means that fundraising activities and grant income can be used to invest in our community for the benefit of our companions. I am pleased to report that this objective was achieved this financial year, as unrestricted funds before transfers increased by £16,525.

 

The year has been very busy, with a significant amount of work being done to improve the site. In time this will enable us to further expand our social enterprise activities, allowing us to increase the number of companions we assist. We are very grateful to our donors, grant funders, volunteers and staff for their amazing support and efforts, which has made this possible.

 

Income

Total unrestricted income increased by almost 11% to £967,104. Income from charitable activities was lower in the year, mainly reflecting challenging conditions for some of our social enterprise activities. However, I am pleased to report that activity levels recovered in the first few months of our new financial year.

 

Restricted income was significantly higher. This was thanks to some significant donor contributions which have, and will continue to be, utilised to improve and develop our site. This will enable us to not only support our existing companions, but to expand our offering to assist a greater number of people in the future.

 

Expenditure

Total expenditure for the year was 13% higher at £1,024,450. This was mainly as a result of higher property costs relating to site improvements.

Reserves Policy

The Board of Trustees continues to be of the view that an equivalent of three months’ worth of operating expenditure should be maintained within the charity’s reserves, as a contingency in case of unforeseen circumstances. In addition to this, the Board may designate additional funds for other anticipated costs or to mitigate against perceived risks.

Donations and grants for specific items, projects or costs are treated as restricted funds and used only for the specific purposes for which they were received.

Reserves

 

Total reserves at the end of the financial year stood at £1,802,283. Restricted funds increased by £352,698 to £394,515, which was mainly attributable to donation income received for future use on our B&B development project. Unrestricted funds increased from £851,470 to £1,407,768. Most of this has been invested in the development of the site to provide the basis for future social enterprise income development, for the benefit of our existing and future companions.

Risk Management

The charity acknowledges the Charity Commission’s recommendation for them to undertake a review of the major risks to which the charity is exposed. The Board of Trustees has developed a risk register, which is regularly reviewed. Actions are then formulated to mitigate, as far as possible, against these risks.

EMMAUS NORFOLK AND WAVENEY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -

Future Plans

Our future plans for the next stage of the community’s development are both expansive and far reaching and look to progressively increase the number of companions that we are able to support over the next 3 – 5 years, as well as increasing the range of backgrounds of the people we can properly support. This will also require us to develop the scope and range of our social enterprises to help them learn and re-learn skills and capabilities that will equip them for their future. Our plan is to undertake this in such a way that any new activities are related to our existing operations and will add value both in terms of surplus generation and therapeutic benefit. We have recently completed the refurbishment of the old refectory which will be a key element of the bed and breakfast offering and will also enable us to open it up to the local community, encourage interaction with our companions and act as centre point for the development of training and other activities for external organisations and individuals. We are really grateful to the National Lottery Heritage Fund for their assistance with this project and bringing it to life and to illustrate the history of All Hallows.

 

Alongside this we have secured significant funding from the Community of All Hallows and Garfield Weston to continue to develop the accommodation in the Old Convent Buildings and address the fundamental structural issues, before embarking on the conversion of the old nun’s cells to bedrooms. We anticipate these bedrooms being used not only for walkers and cyclists along the Via Beata, but also the provision of retreat accommodation and potential use by external organisations for a variety of group activities. We have spent a tremendous effort over the latter part of the year organising a monumental fundraising event in late summer 2024, which will help to raise additional funds to convert the bedrooms and equally raise awareness of homelessness and the reasons for it and the valuable work that Emmaus does across the UK to try to alleviate its impact and give people the opportunity to achieve their aspirations for the future.

In the background we have been working with the Community of All Hallows to acquire leases on an additional 3 houses on the site to provide additional accommodation for up to 20 companions, to include the provision of ‘women’s only’ facility to provide therapeutic support to women who have been subject to domestic abuse, sexual abuse and coercive control and an intermediate house to help companions, who feel they are ready to embark on a life outside of Emmaus, and need a little additional help to put their life skills training into practice before stepping out on their own. We anticipate that the ‘women’s only’ facility coming into operation in early 2025 and the intermediate house by the end Q3 2025.

We have also taken the opportunity to extend our social enterprises during the year to include a ‘house clearance’ service that enables us to supplement the donations that we receive for sale in our retail outlets and envisage this becoming an integral part of our overall strategy over the coming years. Not only does this boost our income, but also provides our companions the opportunity to develop their customer service skills. We also plan to increase our upcycling activities. This further increases the breadth and range of work experience we can offer our companions and, at the same time further minimises our environmental impact, mitigates the risk in fluctuating demand for the services we provide, whilst increasing the level and depth of the individualised support we can provide to companions.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated in 8 June 2010 and registered as a charity on 24 June 2010.

The charity is directed by the Board of Trustees and governed by its Memorandum and Articles of Association. The trustees are directors for the purposes of company law and serve terms of three years, after which they may offer themselves for re-election, subject to approval at the charity’s annual general meeting.

Trustees are appointed from the membership of the charity which, in accordance with the Articles of Association, is open to any individual who is interested in furthering the charity’s work.

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:

 

Mrs P Boyce
(Resigned 26 December 2023)
Mr C Brown
Mr P Coe
Mr D Daynes
Mr S Image
(Resigned 24 September 2023)
Prof. G Kaye
(Resigned 31 October 2024)
EMMAUS NORFOLK AND WAVENEY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
Mr A Pinnington
Mr S Theobald
Mrs A Stekly
(Resigned 26 August 2023)
Ms H Cheshire
(Resigned 26 September 2023)
Mrs M Cubitt
(Appointed 16 November 2023)
Mr J Foster
(Appointed 16 November 2023)
Mr S Johnson
(Appointed 8 November 2023)
Mr N Watts
(Appointed 29 July 2023)

Organisational structure

The charity is led by the Board of Trustees, supported by separate subcommittees within the Board structure, each of which focuses on specific areas of the overall operation of the organisation. These subcommittees are typically made up of Board members, a key member or members of staff and one or more companions. There are four subcommittees comprising of Community and Solidarity, Finance and Capital Investment, Social Enterprise and Income Generation, and Property and Capital Assets.

Emmaus UK

The charity is a member of Emmaus UK, a federation of Emmaus communities within the UK, who are also a member of the charity. The charity is also a member of Emmaus International which links the Emmaus communities across the globe.

Auditor

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

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

Mr S Theobald
Chair of Trustees
Dated: 19 February 2025
EMMAUS NORFOLK AND WAVENEY
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -

The trustees, who are also the directors of Emmaus Norfolk and Waveney 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 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.

EMMAUS NORFOLK AND WAVENEY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF EMMAUS NORFOLK AND WAVENEY
- 6 -

Opinion

We have audited the financial statements of Emmaus Norfolk and Waveney (the ‘charity’) for the year ended 30 June 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 30 June 2024 and of its incoming resources and application of resources, 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.

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 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

sufficient accounting records have not been kept; or

-

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

-

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

EMMAUS NORFOLK AND WAVENEY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF EMMAUS NORFOLK AND WAVENEY
- 7 -
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 section 144 of the Charities Act 2011 and report in accordance with the Act 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.

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

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.

Other matters

The financial statements for the prior period were not audited.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Johnstone (Senior Statutory Auditor)
for and on behalf of Argents Audit Services Limited
19 February 2025
Chartered Accountants
Statutory Auditor
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT

Argents Audit Services 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.

EMMAUS NORFOLK AND WAVENEY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
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
131,420
961,133
1,092,553
27,419
37,764
65,183
Charitable activities
4
710,811
5,209
716,020
839,830
6,024
845,854
Other income
5
124,873
-
124,873
24,665
-
24,665
Total income
967,104
966,342
1,933,446
891,914
43,788
935,702
Expenditure on:

Raising funds

Fundraising and publicity
6
7,610
-
7,610
22,747
-
22,747
Charitable activities
7
940,365
73,871
1,014,236
856,980
25,160
882,140
Other
13
2,604
-
2,604
1,064
-
1,064
Total resources expended
950,579
73,871
1,024,450
880,791
25,160
905,951
Net incoming resources before transfers
16,525
892,471
908,996
11,123
18,628
29,751
Gross transfers between funds
539,773
(539,773)
-
-
-
-
Net income for the year/
Net movement in funds
556,298
352,698
908,996
11,123
18,628
29,751
Fund balances at 1 July 2023
851,470
41,817
893,287
840,347
23,189
863,536
Fund balances at 30 June 2024
1,407,768
394,515
1,802,283
851,470
41,817
893,287

The statement of financial activities includes all gains and losses recognised in the year.

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

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
EMMAUS NORFOLK AND WAVENEY
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
15
1,313,078
754,908
Current assets
Stocks
16
14,757
18,363
Debtors
17
183,393
97,676
Cash at bank and in hand
721,199
483,950
919,349
599,989
Creditors: amounts falling due within one year
18
(298,318)
(33,352)
Net current assets
621,031
566,637
Total assets less current liabilities
1,934,109
1,321,545
Creditors: amounts falling due after more than one year
19
(131,826)
(428,258)
Net assets
1,802,283
893,287
Income funds
Restricted funds
21
394,515
41,817
Unrestricted funds
Designated funds
22
135,560
65,373
General unrestricted funds
1,272,208
786,097
1,407,768
851,470
1,802,283
893,287
EMMAUS NORFOLK AND WAVENEY
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 10 -

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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 19 February 2025
Mr S Theobald
Chair of Trustees
Company registration number 07276977
EMMAUS NORFOLK AND WAVENEY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
- 11 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
865,615
317,100
Investing activities
Purchase of tangible fixed assets
(628,367)
(90,706)
Net cash used in investing activities
(628,367)
(90,706)
Net cash used in financing activities
-
-
Net increase in cash and cash equivalents
237,248
226,394
Cash and cash equivalents at beginning of year
483,950
257,556
Cash and cash equivalents at end of year
721,198
483,950
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 12 -
1
Accounting policies
Charity information

Emmaus Norfolk and Waveney is a private company limited by guarantee incorporated in England and Wales. The registered office is Belsey Bridge Road, Ditchingham, BUNGAY, Suffolk, NR35 2DT, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, 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. The principal accounting policies adopted are set out below.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
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.
1.5
Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that

aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 13 -
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.

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:

Leasehold land and buildings
5% on cost
Plant and equipment
20% on cost
Motor vehicles
25% on cost

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.

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 14 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

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.

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. 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.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
131,420
56,713
188,133
27,419
15,000
42,419
Grants
-
904,420
904,420
-
22,764
22,764
131,420
961,133
1,092,553
27,419
37,764
65,183
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
(Continued)
- 15 -
Grants
Empty Homes
-
11,382
11,382
-
22,764
22,764
Abbe Pierre House
-
250,000
250,000
-
-
-
All Hallows
-
470,000
470,000
-
-
-
Heritage Lottery Fund
-
173,038
173,038
-
-
-
-
904,420
904,420
-
22,764
22,764
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Community project
Community companion support
327,161
5,209
332,370
350,347
6,024
356,371
Social enterprises
Shop income
308,741
-
308,741
441,705
-
441,705
Cafe income
74,909
-
74,909
47,778
-
47,778
710,811
5,209
716,020
839,830
6,024
845,854
5
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Insurance claims
124,873
24,665
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Other fundraising costs
7,610
22,747
7
Expenditure on charitable activities
Community project
Social enterprises
Total
Community project
Social enterprises
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Direct costs
Staff costs
208,991
106,369
315,360
213,820
89,885
303,705
Companion allowance
143,456
-
143,456
151,094
-
151,094
Property costs
219,380
-
219,380
113,218
-
113,218
Vehicle & travel costs
9,296
-
9,296
13,940
-
13,940
Project expenditure
18,502
-
18,502
-
-
-
Shop operating costs
-
108,470
108,470
-
156,249
156,249
Cafe operating costs
-
65,258
65,258
-
30,805
30,805
Sundry
2,049
-
2,049
-
-
-
601,674
280,097
881,771
492,072
276,939
769,011
Share of support and governance costs (see note 8)
Support
91,973
19,501
111,474
92,290
14,984
107,274
Governance
15,909
5,082
20,991
5,353
502
5,855
709,556
304,680
1,014,236
589,715
292,425
882,140
Analysis by fund
Unrestricted funds
645,665
294,700
940,365
564,555
292,425
856,980
Restricted funds
63,891
9,980
73,871
25,160
-
25,160
709,556
304,680
1,014,236
589,715
292,425
882,140
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 17 -
8
Support costs allocated to activities
2024
2023
£
£
Depreciation
67,592
68,486
Office costs
26,001
20,759
Advertising and PR
8,774
10,504
Sundry
9,107
7,525
Governance costs
20,991
5,855
132,465
113,129
Analysed between:
Community project
107,882
97,643
Social enterprises
24,583
15,486
132,465
113,129
2024
2023
Governance costs comprise:
£
£
Audit fees
4,250
-
Accountancy
3,270
2,825
Legal and professional
13,471
3,030
20,991
5,855
9
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
4,250
-
- for other financial services
3,270
-
Depreciation of owned tangible fixed assets
67,592
68,486
Loss on disposal of tangible fixed assets
2,604
1,064
10
Auditor's remuneration
Fees payable to the charity's auditor and associates:
2024
2023
£
£
For audit services
Audit of the financial statements of the charity
4,250
-
For other services
All other non-audit services
3,270
-
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 18 -
11
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Donations of £290 and other income of £1,976 was received from individuals who served as trustees during the year.

During the year, gifts totalling £229 (2023 : nil) were purchased for retiring trustees.

12
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
General
4
4
Trading
6
6
Total
10
10
Employment costs
2024
2023
£
£
Wages and salaries
315,360
303,705
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024
£
Aggregate compensation
63,280
13
Other
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net loss on disposal of tangible fixed assets
2,604
1,064
2,604
1,064
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 19 -
14
Taxation

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

15
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
1,014,316
65,289
44,366
1,123,971
Additions
610,203
3,168
14,996
628,367
Disposals
-
-
(5,000)
(5,000)
At 30 June 2024
1,624,519
68,457
54,362
1,747,338
Depreciation and impairment
At 1 July 2023
296,742
34,560
37,762
369,064
Depreciation charged in the year
50,717
12,371
4,504
67,592
Eliminated in respect of disposals
-
-
(2,396)
(2,396)
At 30 June 2024
347,459
46,931
39,870
434,260
Carrying amount
At 30 June 2024
1,277,060
21,526
14,492
1,313,078
At 30 June 2023
717,574
30,730
6,604
754,908
16
Stocks
2024
2023
£
£
Finished goods and goods for resale
14,757
18,363
17
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
25,779
31,724
Other debtors
112,646
30,229
Prepayments and accrued income
44,968
35,723
183,393
97,676
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 20 -
18
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Deferred income
20
11,382
11,382
Trade creditors
242,915
3,301
Other creditors
20,371
13,400
Accruals
23,650
5,269
298,318
33,352
19
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Deferred income
20
131,826
428,258
20
Deferred income
2024
2023
£
£
Arising from government grants
143,208
136,570
Other deferred income
-
303,070
143,208
439,640

Deferred income arising from government grants shown above is in relation to the following:

Other deferred income is included in the financial statements as follows:

2024
2023
£
£
Deferred income is included within:
Current liabilities
11,382
11,382
Non-current liabilities
131,826
428,258
143,208
439,640
Movements in the year:
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
20
Deferred income
(Continued)
- 21 -
Deferred income at 1 July 2023
439,640
159,334
Released from previous periods
(314,452)
(22,764)
Resources deferred in the year
18,020
303,070
Deferred income at 30 June 2024
143,208
439,640
21
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.

At 1 July 2023
Incoming resources
Resources expended
Transfers
At 30 June 2024
£
£
£
£
£
Capital Grant Fund
-
11,382
(11,382)
-
-
Leasehold Improvement fund
-
470,000
-
(387,571)
82,429
Other Restricted Fund
20,380
1,788
(11,768)
(20)
10,380
APH Development Fund
15,000
476,108
(45,518)
(143,507)
302,083
PIP funds
6,437
4,389
(5,203)
-
5,623
Womens Project
-
2,675
-
(8,675)
(6,000)
41,817
966,342
(73,871)
(539,773)
394,515
Previous year:
At 1 July 2022
Incoming resources
Resources expended
Transfers
At 30 June 2023
£
£
£
£
£
Capital Grant Fund
-
22,764
(22,764)
-
-
Other Restricted Fund
10,380
10,000
-
-
20,380
APH Development Fund
10,000
5,000
-
-
15,000
PIP funds
2,809
6,024
(2,396)
-
6,437
23,189
43,788
25,160
-
41,817
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 22 -
22
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 July 2023
Incoming resources
Resources expended
Transfers
At 30 June 2024
£
£
£
£
£
Community Car Fund
9,718
-
-
-
9,718
Community Fund
6,640
-
-
-
6,640
Development Fund
(15,022)
-
-
(35,449)
(50,471)
Capital
-
100,000
-
-
100,000
Sinking Fund
58,000
-
-
-
58,000
Burglary insurance claim
164
1,502
-
(1,666)
-
Fire insurance claim
5,873
123,371
(117,848)
(3,168)
8,228
Walk of Kindness
-
5,871
(2,426)
-
3,445
General funds
786,097
736,360
(830,305)
580,056
1,272,208
851,470
967,104
(950,579)
539,773
1,407,768
Previous year:
At 1 July 2022
Incoming resources
Resources expended
Transfers
At 30 June 2023
£
£
£
£
£
Community Car Fund
13,985
-
-
(4,267)
9,718
Community Fund
6,640
-
-
-
6,640
Development Fund
65,018
-
-
(80,040)
(15,022)
Sinking Fund
58,000
-
-
-
58,000
Burglary insurance claim
-
8,772
(4,455)
(4,153)
164
Fire insurance claim
-
15,894
(8,714)
(1,307)
5,873
General funds
696,704
867,248
(867,622)
89,767
786,097
840,347
891,914
880,791
-
851,470
23
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 30 June 2024:
Tangible assets
1,313,078
-
1,313,078
Current assets/(liabilities)
226,516
394,515
621,031
Long term liabilities
(131,826)
-
(131,826)
1,407,768
394,515
1,802,283
EMMAUS NORFOLK AND WAVENEY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
23
Analysis of net assets between funds
(Continued)
- 23 -
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 30 June 2023:
Tangible assets
754,908
-
754,908
Current assets/(liabilities)
96,562
470,075
566,637
Long term liabilities
-
(428,258)
(428,258)
851,470
41,817
893,287
24
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

25
Cash generated from operations
2024
2023
£
£
Surplus for the year
908,996
29,751
Adjustments for:
Loss on disposal of tangible fixed assets
2,604
1,067
Depreciation and impairment of tangible fixed assets
67,592
68,486
Movements in working capital:
Decrease in stocks
3,606
47
(Increase) in debtors
(85,717)
(59,816)
Increase/(decrease) in creditors
264,966
(2,741)
(Decrease)/increase in deferred income
(296,432)
280,306
Cash generated from operations
865,615
317,100
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