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# WHITE ROSE TRADING CIC

## Company Registration Number:
09899636 (England and Wales)

## Unaudited statutory accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 1 January 2024

## End date: 31 December 2024

# WHITE ROSE TRADING CIC

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report |
Balance sheet |
Additional notes |
Balance sheet notes |
Community Interest Report |

# WHITE ROSE TRADING CIC

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

White Rose operates a network of charity shops specialising in pre-loved fashion. As a viable alternative to fast fashion, this model generates environmental, employment, and community benefits. It strengthens local communities and reduces climate change, creating surplus net income to support the charitable activities and peacebuilding work of Aegis Trust in areas affected by conflict. In addition, White Rose helps to bring life back to high streets, as many of its new shops were previously closed retail units. Many customers describe White Rose as a destination brand, with a high proportion of young people as its customers. Until the end of 2024, the Directors were committed to a business strategy initiated in 2020 to achieve critical mass in its retail operations. New shops were opened reaching a total of 18. During the year, the business collected circa 330 tonnes of recycled clothing, similar to the prior year, helping to reduce landfill waste and CO2 emissions. White Rose also made an important contribution to generating employment, with just over 200 volunteers registered at the end of the year.

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Stephen Austin Newell
James Michael Smith
Grace Walker
Michael John Saunders

Secretary Stephen Jeffrey Robinson

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
2 April 2026

And signed on behalf of the board by:
Name: James Michael Smith
Status: Director

# WHITE ROSE TRADING CIC

## Balance sheet

As at 31 December 2024

| Notes | 2024 | 2023
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: | 3 | 0 | 23,310
Tangible assets: | 4 | 482,591 | 557,340
Total fixed assets: |  | 482,591 | 580,650
Current assets
Stocks: | 5 | 167,089 | 92,989
Debtors: | 6 | 191,631 | 182,328
Cash at bank and in hand: |  | 7,205 | 75,251
Total current assets: |  | 365,925 | 350,568
Creditors: amounts falling due within one year: | 7 | ( 836,472 ) | ( 521,220 )
Net current assets (liabilities): |  | (470,547) | (170,652)
Total assets less current liabilities: |  | 12,044 | 409,998
Creditors: amounts falling due after more than one year: | 8 | ( 1,093,172 ) | ( 956,514 )
Total net assets (liabilities): |  | (1,081,128) | (546,516)
Capital and reserves
Called up share capital: |  | 20 | 20
Profit and loss account: |  | (1,081,148 ) | (546,536 )
Total Shareholders' funds: |  | ( 1,081,128 ) | (546,516)

The notes form part of these financial statements

# WHITE ROSE TRADING CIC

## Balance sheet statements

For the year ending 31 December 2024 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 2 April 2026
and signed on behalf of the board by:

Name: James Michael Smith
Status: Director

The notes form part of these financial statements

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 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

  Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation. When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

  Tangible fixed assets depreciation policy

  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: Plant and equipment: 5% on cost Fixtures and fittings: 33% on cost and 15% 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 credited or charged to profit or loss.

  Intangible fixed assets amortisation policy

  Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 2. Employees

  | 2024 | 2023
  --- | --- | ---
  Average number of employees during the period | 71 | 79

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Intangible assets

| Goodwill | Other | Total
--- | --- | --- | ---
Cost | £ | £ | £
At 1 January 2024 | 99,900 |  | 99,900
Additions |  |  |
Disposals |  |  |
Revaluations |  |  |
Transfers |  |  |
At 31 December 2024 | 99,900 |  | 99,900
Amortisation |  |  |
At 1 January 2024 | 76,590 |  | 76,590
Charge for year | 23,310 |  | 23,310
On disposals |  |  |
Other adjustments |  |  |
At 31 December 2024 | 99,900 |  | 99,900
Net book value |  |  |
At 31 December 2024 | 0 |  | 0
At 31 December 2023 | 23,310 |  | 23,310

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 4. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
At 1 January 2024 |  | 190,326 | 725,586 |  | 35,205 | 951,117
Additions |  | 4,030 | 111,694 |  |  | 115,724
Disposals |  |  | ( 306,931 ) |  |  | ( 306,931 )
Revaluations |  |  |  |  |  |
Transfers |  |  |  |  |  |
At 31 December 2024 |  | 194,356 | 530,349 |  | 35,205 | 759,910
Depreciation |  |  |  |  |  |
At 1 January 2024 |  | 41,256 | 317,316 |  | 35,205 | 393,777
Charge for year |  | 8,920 | 117,590 |  |  | 126,510
On disposals |  |  | ( 242,968 ) |  |  | ( 242,968 )
Other adjustments |  |  |  |  |  |
At 31 December 2024 |  | 50,176 | 191,938 |  | 35,205 | 277,319
Net book value |  |  |  |  |  |
At 31 December 2024 |  | 144,180 | 338,411 |  | 0 | 482,591
At 31 December 2023 |  | 149,070 | 408,270 |  | 0 | 557,340

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 5. Stocks

| 2024 | 2023
--- | --- | ---
| £ | £
Stocks | 167,089 | 92,989
Total | 167,089 | 92,989

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 6. Debtors

| 2024 | 2023
--- | --- | ---
| £ | £
Trade debtors | 75,410 | 61,044
Prepayments and accrued income | 65,535 | 67,976
Other debtors | 50,686 | 53,308
Total | 191,631 | 182,328

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 7. Creditors: amounts falling due within one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Bank loans and overdrafts | 2,830 | 11,038
Amounts due under finance leases and hire purchase contracts | 120,000 |
Trade creditors | 463,333 | 189,246
Taxation and social security | 144,098 | 160,737
Accruals and deferred income | 28,843 | 27,615
Other creditors | 77,368 | 132,584
Total | 836,472 | 521,220

# WHITE ROSE TRADING CIC

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 8. Creditors: amounts falling due after more than one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Bank loans and overdrafts | 1,052,227 | 915,569
Other creditors | 40,945 | 40,945
Total | 1,093,172 | 956,514

# COMMUNITY INTEREST ANNUAL REPORT

### WHITE ROSE TRADING CIC

### Company Number: 09899636 (England and Wales)

### Year Ending: 31 December 2024

Company activities and impact

White Rose Trading CIC operates a chain of recycled fashion stores across the Midlands in support of its community interest purpose. Its impact is achieved in 3 ways. Social: bringing life to the high street through its attractive retail activities and through surplus income to support educational programmes that are proven to break cycles of violence and hatred and build sustainable peace. Environmental: diverting over 360 tonnes of textiles from landfill and extending the lifespan of the clothing by selling them through our chain of stores to the community at an affordable price. Through White Rose Trading Cl C's activities, 1.4 million tonnes of CO2 emissions are prevented per annum, and millions of litres of water conserved that would otherwise be consumed in new garment production. People: engagement of volunteers and employees, including youth training and apprenticeship schemes who benefit as they gain skills and confidence whilst making a significant contribution to their community.

Consultation with stakeholders

Consultations have been made formally and informally. These consultations have involved periodic verbal communication and meetings, especially with volunteers, donors and partner organisations. The main outcome from feedback was a request for more frequent updates throughout the year on our impact, and to ensure that the organisation communicates this in our stores for both our customers and those who donate their clothes to us. A committee has therefore been formed to develop quarterly updates and to provide information at the till points and other key display areas in a way that is palatable to the audience coming into the White Rose stores.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 March 2026

And signed on behalf of the board by:
Name: Grace Walker
Status: Director