Contents of the Financial Statements

for the Period Ended 31 March 2025

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Directors

The directors shown below have held office during the whole of the period from
1 April 2024 to 31 March 2025

Martin Drewry
Oliver Benjamin Kemp

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
10 November 2025

And signed on behalf of the board by:
Name: Oliver Benjamin Kemp
Status: Director

Profit And Loss Account

for the Period Ended 31 March 2025

	2025	2024
	£	£
Turnover:	9,988,307	10,707,604
Cost of sales:	0	0
Gross profit(or loss):	9,988,307	10,707,604
Administrative expenses:	( 9,319,325 )	( 11,041,529 )
Operating profit(or loss):	668,982	(333,925)
Interest payable and similar charges:	0	0
Profit(or loss) before tax:	668,982	(333,925)
Profit(or loss) for the financial year:	668,982	(333,925)

Balance sheet

As at 31 March 2025

	Notes	2025	2024
		£	£
Current assets
Stocks:	3	537,553	350,370
Debtors:	4	2,072,585	1,339,408
Cash at bank and in hand:		2,227,070	3,401,631
Investments:	5	2,162,280	1,041,807
Total current assets:		6,999,488	6,133,216
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	6	( 384,581 )	( 365,485 )
Net current assets (liabilities):		6,614,907	5,767,731
Total assets less current liabilities:		6,614,907	5,767,731
Creditors: amounts falling due after more than one year:	7	( 458,883 )	( 371,056 )
Provision for liabilities:		0	0
Accruals and deferred income:		0	0
Total net assets (liabilities):		6,156,024	5,396,675
Members' funds
Profit and loss account:		6,156,024	5,396,675
Total members' funds:		6,156,024	5,396,675

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies apply to categories of income: - Donated services and facilities: are included at the value to the charity where this can be quantified. No amounts are included in the financial statements for services donated by volunteers. - Income includes: income received from statutory and other government supported agencies, and income from other private sources. - Gifts in kind are recognised as both income and expenditure. The value of gifts in kind from donors is pre-determined by the donor according to grant agreements, typically based on market prices for relevant goods. The value of the gifts received from the Donor in the year is recognised as income. Only the gifts distributed in the year are recognised as expenditure. Any gifts not yet distributed at year end are held in stock.

  Tangible fixed assets depreciation policy

  Assets are depreciated on a straight-line basis over their estimated useful lives. Land is not depreciated. Donated assets meeting the threshold are recorded at fair value. Assets are removed from the register upon disposal, and any gain or loss is recognized in the accounts. Assets with a unit cost of £50,000 or more and a useful life of more than one year are capitalized. Items below this threshold are expensed.

  Valuation information and policy

  Inventories are disclosed in the balance sheet as a current asset. The note to the financial statements includes a breakdown between GIK stock and property stock to provide transparency over the nature and composition of inventory held. Inventory comprises: Goods-in-Kind (GIK) Stock – donated goods held for resale or distribution, and Property Stock – property acquired specifically for the purpose of resale. Property stock is not classified as investment property or non-current assets held for sale, as it does not meet the relevant criteria under FRS 102. It is instead recognised as inventory, as it was acquired with the intention of resale in the ordinary course of business. Measurement GIK Stock: Donated goods are recognised at their fair value at the date of donation where it is practicable to measure such value reliably. This is based on estimated resale value, adjusted for condition and saleability, where appropriate. Property Stock: Property acquired for resale is initially recognised at cost, which includes the purchase price and any directly attributable costs necessary to bring the property to its present condition and location for sale. Subsequently, property stock is measured at the lower of cost and estimated selling price less costs to complete and sell. ii. Debtors and creditors Debtors and creditors receivable or payable within one year of the reporting date are carried at their at transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest.

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	314	386