for the Period Ended 30 June 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 June 2024
Directors
The directors shown below have held office during the whole of the period from
1 July 2023
to
30 June 2024
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
---|---|---|
|
£ |
£ |
Turnover: |
|
|
Cost of sales: |
|
(
|
Gross profit(or loss): |
|
|
Operating profit(or loss): |
|
|
Profit(or loss) before tax: |
|
|
Profit(or loss) for the financial year: |
|
|
As at
Notes | 2024 | 2023 | |
---|---|---|---|
|
£ |
£ |
|
Current assets | |||
Cash at bank and in hand: |
|
|
|
Total current assets: |
|
|
|
Creditors: amounts falling due within one year: | 3 |
(
|
(
|
Net current assets (liabilities): |
|
|
|
Total assets less current liabilities: |
|
|
|
Total net assets (liabilities): |
|
|
|
Members' funds | |||
Profit and loss account: |
|
|
|
Total members' funds: |
|
|
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 June 2024
Basis of measurement and preparation
Other accounting policies
for the Period Ended 30 June 2024
2024 | 2023 | |
---|---|---|
Average number of employees during the period |
|
|
for the Period Ended 30 June 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Other creditors |
|
|
Total |
|
|
Many people live on the knife-edge, never sure if they can survive even a minor financial setback. They need only a small financial cushion and their lives can be transformed. Our Work and Save campaign in Scotland has shown what is possible. The campaign was funded by the Scottish government through leading credit unions, Capital and Scotwest. Our volunteer board worked with teams from the credit unions. Thanks to their combined efforts, with particular recognition of the part played by board members Graham Brough and Marion Faichnie, over 120,000 employees in Scotland are now able to save through payroll deduction with credit unions. This is a remarkable achievement, especially in the light of the challenges presented by Covid at the time. Nearly everything had to be carried out remotely. The next step will be for employees to save regularly which will take them beyond financial resilience to financial wellbeing. The first stage of our work in Scotland has demonstrated the potential of payroll saving. Of course it is in the government’s power to mandate automatic saving also. But the importance of payroll saving is that it does not only support employees; it empowers them at the same time. The second stage of our work needs to go beyond the central belt of Scotland where the support of our credit union backers has been most effective and reach out to eastern Scot-land, where there are more private sector employees, and to contiguous parts of northern England where poverty is deeper than in Scotland. These will require further funding which, on any common-sense basis, should be forthcoming in light of the achievements to date and prospects before us. I would like to thank our participants, our funders and the board members who have worked hard and pro bono.
As explained above, we have prioritised setting up payroll savings schemes. We are adopting a regional approach and started with Scotland. Stakeholder collaboration, not just consultation, is very much at the heart of our model designed to expand take up of payroll savings schemes. Our key stakeholders are leading credit unions in Scotland, employers, representative bodies, policymakers, and civil society organisations. As mentioned, we trialled different approaches, and consulted with stakeholders to identify the most effective approach to expand the reach of payroll savings schemes.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
24 March 2025
And signed on behalf of the board by:
Name: Michael McAteer
Status: Director