A message from our CEO
This past year has highlighted the strength, resilience, and heart of our communities in St Ann’s and Sneinton. As the rising cost of living continues to place immense financial pressures on local families, The Renewal Trust has remained deeply rooted at the centre of the local response, offering vital relief and connection. The financial instability of Nottingham City Council has continued to impact the wider voluntary sector, leading to cuts in local services and heightened competition for critical grant funding. Despite these challenging headwinds, we have stepped up our efforts to combat poverty and economic disadvantage directly across St Anns and Sneinton.
In times of economic hardship, the importance of bringing people together goes far beyond providing material aid; it is about building deep social connections and community cohesion. Community safety and security can develop when people know their neighbours and look out for one another. Keeping our communities connected makes our neighbourhoods inherently safer, stronger, and more supportive places to live.
Core to this are our dedicated community venues, Cherry Lodge and the Brendon Lawrence Sports Centre. These are not just buildings; they are the physical hearts of our neighbourhoods where people of all ages meet, interact, and build lasting cohesion. Recognising how vital these spaces are to our collective well-being and understanding the current uncertainties facing local infrastructure we have taken proactive steps to secure them. We have sought to protect these spaces for the community for the future by successfully registering them as Assets of Community Value. This legal designation ensures that these essential hubs remain safeguarded for the people who rely on them most.
Our expanded Feel Good programme has been a lifeline for this type of connection across our venues. Through initiatives like our Warm Wednesday sessions, we have been able to provide free, home-cooked meals in a welcoming, shared environment. We also distributed essential support bags filled with household and personal hygiene products to help ease daily financial burdens. From young children in our Mini Movers sessions to older residents enjoying Feel Good Gold, we have worked hard to ensure everyone has a positive space to connect, share, and learn.
None of this valuable work would be possible without the incredible dedication of our 34 volunteers, who generously contributed over 1,031 hours of their time this year. I also want to extend my deepest thanks to our exceptional staff team, our local corporate partners, and the 3,351 community members who engaged with us. By working together, sharing stories, and supporting one another, you have proven that our community can thrive and protect each other even in the face of hardship.
The Renewal Trust is rooted in the heart of St Ann’s and Sneinton, working alongside local people to help communities thrive. We create opportunities, run practical initiatives, and support residents to thrive, connect, and shape the future of their neighbourhoods.
Our values
Be kind
Be inclusive
Be curious
Be determined
Be creative
Our year in numbers
9,206 attendees throughout the year
3,351 unique attendees
3,589 people who have attended 5 or more sessions
34 volunteers gave their time, giving over 1,031 volunteer hours
435 events and activities throughout the year
65 unique activities / events
155 Mini Movers sessions
36 Feel Good Gold sessions
20 Holiday club sessions
273 meals served at Warm up Wednesday
176 people helped with digital support
925 people supported with personal hygiene and household products
156 Christmas gifts
19 local organisations and groups supported with a community grant
100+ partnerships with organisations to enhance service delivery
12 network meetings, with 196 people signed up to the networks
2 Business Centres supporting 22 local organisations, charities and small businesses.
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 trust's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".
The Renewal Trust's Charitable Objects are:
To relieve poverty and to advance education amongst persons in Nottinghamshire and especially in the communities of St Ann's and Sneinton and with particular regard to such persons who are unemployed or suffering the consequences of economic disadvantage in order to contribute to the development of the area economically, socially and in spirit.
To train and educate persons resident in the area through their leisure time activities and through the provision of regular work for such persons who would otherwise be unemployed so as to develop their physical, mental and spiritual capacities so that their conditions of life may be improved.
To promote such charitable purposes in the area and in particular purposes directed to the benefit of people suffering from unemployment or economic decline.
The trustees have had regard to the Charities Commission guidance on public benefit.
The Relief of poverty and economic disadvantage
Throughout the year our Feel Good programme continued to grow, providing a wide range of free and low-cost activities, services and practical support for local people of all ages. While many activities were designed to improve health, wellbeing and social connectedness, the programme also directly addressed the impact of financial hardship and the rising cost of living.
We provided digital support to help people access online services, improve their skills and reduce digital exclusion. We also distributed free support bags containing essential items such as toiletries, household cleaning products, nappies and sanitary products, helping individuals and families meet everyday needs and reduce financial pressures.
In response to increasing demand for food support and social connection, we launched Warm Wednesday, a weekly community session offering a free home-cooked meal in a welcoming and inclusive environment. The initiative provided both practical assistance and an opportunity for local people to come together and reduce social isolation.
During the school holidays, we offered free breakfast sessions for local people and helped families eligible for free school meals manage holiday costs by delivering free Holiday Clubs through the Holiday Activities and Food (HAF) programme. These sessions ensured that children could access nutritious meals, fun activities and safe places to spend time during the school break, without creating additional financial burdens for families. We also offered a range of other free and low-cost family activities, including Lego sessions and ice-skating opportunities, helping ensure that local children and families could participate in positive experiences regardless of income.
Through Hungerhill Trading Ltd, our property trading subsidiary our two business centres, Carlton Road Business Centre and The Renewal Trust Business Centre, we continued to provide affordable office and workspace accommodation for charities, community organisations and small businesses, enabling organisations to operate and grow within the local area and stimulate the local economy.
Improving leisure time, training, education and welfare
“Mini Movers is a lovely little session that really gets the children (and adults) joining in. The staff are amazing at what they do. I would highly recommend it to other parents and carers.”
Parent who attends Mini Movers
Throughout the year, our programmes provided opportunities for people of all ages to learn new skills, build confidence, improve wellbeing and participate in positive activities within their local community.
Mini Movers continued to support the development and wellbeing of children aged 0 to 4 through a varied programme of active play, outdoor learning, dance, music, storytelling and sensory activities. These sessions encouraged early learning, communication, physical development and social interaction in a fun and engaging environment. The programme also benefited parents and carers by building confidence, reducing isolation and creating opportunities to connect with other parents.
In addition to our weekly term-time sessions, we delivered special Mini Movers activities during school holidays, providing families with free opportunities to continue learning and playing together. During the year, we successfully expanded the programme into an additional local library and leisure centre, increasing access to educational and recreational activities and enabling more families to benefit from free music, movement, storytelling and play sessions.
Our weekly Feel Good Gold programme continued to enhance the wellbeing of people aged 60 and over by providing regular opportunities for social engagement, learning and physical activity. Participants took part in quizzes, crafts and other group activities that encouraged creativity, learning and social connection, as well as chair-based exercise sessions designed to improve mobility, fitness and overall health.
The programme also provided a hot meal, transport to and from sessions, and access to advice and information from a range of national partner organisations, helping to remove barriers to participation and ensure older people could remain active, informed and connected. For many participants, Feel Good Gold provided an important source of friendship, support and community involvement, contributing significantly to their overall welfare and quality of life.
“The impact on the people I have referred has been immense, helping to reduce isolation, build confidence, create lasting friendships, and improve overall wellbeing. I cannot speak highly enough of the staff and volunteers involved. Their care, compassion, dedication, and attentiveness go far beyond what would normally be expected.”
Community Connector
Through both programmes, we helped create accessible opportunities for learning, recreation and personal development, enabling children, families and older people to improve skills, wellbeing and social connections through meaningful leisure-time activities.
Our digital support gave people a safe and welcoming space to learn how to use a phone, access online services, stay in touch with family and friends, and navigate online forms. Alongside developing practical skills, participants built trust, confidence and social connection, helping them to overcome digital exclusion and stay connected to the people, services and opportunities that matter to them.
We launched Feel Good Live Well, a community dementia hub based at Cherry Lodge, providing support and social opportunities for people living with dementia and their carers. Through activities such as arts and crafts, chair-based exercise and guided walks, participants were able to stay active, feel less isolated and enjoy meaningful activities, alongside support to access local advice and services.
Our monthly drop-in activities also continued to promote community wellbeing and social inclusion. Chatty Cake Café provided a welcoming space where local people could meet, build relationships and take part in short guided walks, helping to reduce social isolation and strengthen community connections.
Through our Community Health Hubs, local residents were able to access free blood pressure checks, health information and wellbeing advice. These sessions increased awareness of healthy lifestyles, encouraged people to take a more active role in managing their health and provided opportunities to access information and support within their community.
Towards the end of the year, we expanded our programme of accessible health and wellbeing activities through partnerships with British Triathlon and British Cycling, supported by funding from Travel Well. These initiatives provided local people with opportunities to develop new skills, increase their confidence and take part in regular physical activity in a supportive and inclusive environment.
Activities included Learn to Ride sessions, a Couch to 5K programme and guided community walks, all designed to encourage people of different ages, abilities and fitness levels to become more active. Participants increased their physical activity levels and gained confidence, contributing to improved health, wellbeing and quality of life.
Together all these activities created accessible opportunities for learning, personal development, enabling people to improve their physical health, wellbeing and social connections through positive leisure activities.
Promotion of general charitable purposes and community cohesion
Throughout the year, we worked to strengthen community cohesion, support local organisations and create opportunities for local people to connect, participate and contribute to community life. Through grants, community facilities, partnership working and inclusive programmes, we helped bring people together, build local capacity and foster a stronger sense of belonging across St Ann's and Sneinton.
“Being able to provide free school holiday activities ensured that financial barriers didn’t limit local children’s learning and leisure out of school. The games allowed children to play with others, providing a range of social opportunities to bond with friends and family, away from screens and digital entertainment.”
Community Grant Recipient
Our Community Grants programme continued to provide small grants of up to £500 to local groups and organisations, empowering communities to design and deliver activities that responded directly to local needs. The programme supported a range of community-led initiatives, including wellbeing and yoga sessions, games days, sports events, community discos, bakery clubs, community Iftars, and Christmas fairs and celebrations. These activities created valuable opportunities for people from different backgrounds and age groups to come together, form new relationships, develop skills and strengthen community networks.
During the year 19 local organisations and community groups received funding through the programme. By investing in local organisations, we helped increase community participation, support volunteer-led activity and contribute to a more connected and resilient community.
“Accessing activities and events at Cherry Lodge has helped our family feel more connected to the community. It gives us opportunities to meet other families, build friendships, and feel less isolated.”
Parent who attended activities at Cherry Lodge
Cherry Lodge continued to serve as a welcoming and inclusive community hub at the heart of local life. Throughout the year, the centre provided a wide range of activities, services and support for people of all ages, including Feel Good Gold, Mini Movers, family support services, Community Health Hubs, warm spaces, free hot meals and community events. These programmes created regular opportunities for people to meet, socialise and access support within a trusted local setting.
The centre also hosted a variety of seasonal events and celebrations throughout the year, providing free and low-cost opportunities for people to come together, celebrate their community and participate in positive shared experiences. These events helped strengthen relationships, reduce social isolation and promote a greater sense of belonging and community.
“Many clubs, schools and organisations rely on the centre for regular programming, it serves as a safe and inclusive space for diverse groups across the neighbourhood. Its continued presence contributes significantly to the health, cohesion, and resilience of our community.”
Brendon Lawrence Sports Centre user
Brendon Lawrence Sports Centre continued to provide an accessible and affordable venue for sport, recreation and community activity. Throughout the period, the centre hosted a broad programme of activities including badminton, pickleball, indoor cricket, dance, netball, football, fitness sessions and early years activities.
Working in partnership with local organisations, we also helped deliver a range of free and low-cost sports, wellbeing and holiday programmes. These partnerships increased access to opportunities for local people and enabled organisations to work together to address community needs, strengthen participation and improve outcomes for residents.
By providing opportunities for participation in sport and physical activity, the centre supports wellbeing and wider community engagement
Working together
Collaboration remained central to our approach during this year. We continued to host and support networks focused on health and wellbeing, children and young people, and hardship, bringing together more than 196 individuals from 124 partner organisations. These networks provided a platform for sharing knowledge, identifying need, coordinating support and increasing collaboration and access to opportunities and activities.
To strengthen these connections further, we hosted Networks Live, bringing together members from across all network groups to share learning and explore opportunities for future collaboration. The event attracted 51 representatives from 29 organisations and featured an inspirational keynote speech from Paralympian Steph Reid, helping to reinforce a shared commitment to improving outcomes for local communities.
This year marked further progress in the first phase of Place Partnership, funded by Sport England and delivered in collaboration with Active Notts, with The Renewal Trust acting as the recognised community anchor organisation for St Ann's and Clifton.
The initiative focuses on building stronger community connections and creating opportunities for children, young people and families to be more active in ways that fit their daily lives. Throughout the year, we facilitated a series of visioning sessions that brought together residents, community groups and partner organisations. These sessions helped to build trust, strengthen relationships, align priorities and create opportunities for local people and organisations to work together in new ways.
The Nottingham More in Common Partnership, part of the national More in Common Network, continued its work to bring people together across different backgrounds, cultures and experiences. Working alongside Communities Inc, Nottingham Community and Voluntary Service (NCVS), the Jo Cox Foundation, and Nottingham Trent University, the partnership sought to promote understanding, challenge division and build stronger, more inclusive communities.
Activities throughout the year included podcasts and dialogues - exploring difficult conversations, myth busting - especially around refugee’s and asylum seekers and hate crime, Bystander Awareness training and promoting an understanding of hate crime and how to report it through community events.
These activities helped create opportunities for meaningful conversation, encouraged greater understanding promoting respect, inclusion and shared community values by addressing barriers to cohesion and encouraging positive dialogue.
Volunteers
"My family has benefited by the activities from the Renewal Trust. I truly appreciated the work they do in the community, and by volunteering I hope I can do something to give back to the charity and the community as well.”
Renewal Trust Volunteer
Our activities and projects are made possible by the dedication and commitment of our volunteers, who contribute their time, skills and experience to support the delivery of services, events and community activities throughout the year.
Volunteering acts as the vital ‘glue’ for civic infrastructure, actively countering "civic recession" by connecting neighbours and building cohesion.
This year, we welcomed 34 volunteers who played a vital role across our programmes, helping us to reach more people and strengthen our impact within the community. Their invaluable contribution enabled us to deliver a wide range of activities while creating a welcoming and supportive environment for participants.
We were also pleased to be supported by employees from three local businesses who volunteered through their organisations' corporate social responsibility programmes.
For this period the Renewal Trust and its beneficiaries have benefitted from a number of funding sources, including Active Partners, Children in Need, Holiday Activity Fund and Travel Well.
The financial precarity of Nottingham City Council continues to impact the sector as a whole with increased funding competition. The trading subsidiary, Hungerhill Trading Ltd continues to support the Charity financially.
1. Purpose and Target Range
The Renewal Trust maintains reserves to ensure long-term financial stability, liquidity, and strategic flexibility. The Board aims to hold free reserves within a target range of 4 to 6 months of operating costs to mitigate income fluctuations and manage unexpected expenses. The target of 4 to 6 months of operating costs has been achieved.
2. Governance and Monitoring
The Finance and Fundraising Subgroup of the Board of Trustees is responsible for managing the reserves. The policy is reviewed annually, and the Finance Director monitors levels quarterly via management reporting to ensure a sustainable balance between operations and income generation. Any drawdown of reserves must be ratified by the Board of Trustees.
The Trustees have a risk management strategy, which comprises:
An annual review of the primary risks to governance, operations, finances, environment and compliance to the charity and its subsidiaries.
Policies, systems and processes to mitigate those risks
Implementation of procedures to minimise or manage any potential impact on the charity if any of the primary risks should materialise.
3. Types of Reserves
The Renewal Trust's reserves will be classified as follows:
Unrestricted Reserves: These are reserves that the charity is free to use at its discretion in support of its mission. They can be used for operational needs, investments in programs, or as a buffer for periods of lower income.
Free Reserves: These are unrestricted reserves less fixed assets and any defined pension liability.
Restricted Reserves: These are funds that are designated for specific purposes based on donor restrictions or legal requirements. These funds cannot be used for general operational needs but must be spent in accordance with their intended purpose.
Designated Reserves: These reserves are a subset of unrestricted reserves that the Trustees have specifically set aside for particular projects or future commitments. These reserves are flexible but can only be used for the purpose designated by the Trustees.
4. Financial Position (at 31 March 2026)
Free Reserves: £583,057 (2025: £580,217)
Unrestricted Funds: £768,566 (2025: £683,311), including £147,094 (2025: £101,842) allocated to designated funds and £157,000 (2025: £100,000) relating to the pension reserve.
Restricted Funds: £89,793 (2025: £88,247) held for donor-specified purposes.
The Renewal Trust is a Company Limited by Guarantee and a Registered Charity. It is a membership organisation. It is governed by its Memorandum and Articles of Association.
Trustees
As a charity, we're governed by a Board of Trustees made up of volunteers from the community, public and private sectors who give their time to support and guide our governance and strategic direction.
Trustees are appointed at the Annual General Meeting and a third of the Board retire by rotation each year and are eligible for re-election. The Board meet monthly to discuss and set strategic direction and policy for the organisation.
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:
The charity carries out a Trustee Review to ascertain, knowledge and experience of existing Trustees and uses the information to determine any skills, knowledge of experience needed on the board. New Trustees submit a CV to the Board for consideration ahead of their potential appointment at the AGM.
All new Trustees are inducted by the Chief Executive Officer (CEO) and given a copy of the Trustee Handbook, which identifies how the Renewal Trust is governed, managed and its purposes along with links to Company Policies. All Trustees will receive a copy of the latest financial reports and take part in training opportunities throughout the year.
The Renewal Trust and its subsidiaries are committed to recruiting high calibre people to represent our interests. We also believe in rewarding staff fairly for jobs they do and fostering a positive work environment, we believe our salaries and terms and conditions reflect this. As such we have a robust Remuneration Policy which is overseen by the HR Subgroup and decision are ratified by The Renewal Trust Board
We are proud to be a Real Living Wage Employer. New posts are benchmarked against market comparables. Each year the HR Subgroup will consider cost of living adjustments against affordability, performance and cost of living adjustments.
The Renewal Trust HR Subgroup assumes responsibilities of a remuneration committee and comprises of the Chair and at least two other trustees. Formal consideration of remuneration matters will take place annually, however decisions regarding the CEO’s salary are considered by the HR Subgroup without the CEO being present and will include an external independent advisor
Where costs have been incurred by The Renewal Trust’s trading subsidiary, but have been procured through The Renewal Trust, all costs have been transferred at face value, this includes costs of the staff employed by The Renewal Trust and have a proportion of their salaries recharged to subsidiary.
The Renewal Trust rents office space at Carlton Road Business centre from Hungerhill Trading Limited at market rate.
Specialist Early Years provision has been procured though Boogie Beats which is run by the Community Lead’s partner.
Arboriculture works and grounds maintenance has been procured through the CEO’s husband – J Wells Contracting, at a market rate.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The Renewal Trust (the trust) for the year ended 31 March 2026.
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the trust’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the trust as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Renewal Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 27-31 Carlton Road, Nottingham, NG3 2DG.
The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the trust. 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.
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust 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.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restriction imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
Gifts in kind donated are included at valuation and recognised as income when they are distributed to projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Donations and gifts are included in full in the Statement of Financial Activities when receivable.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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 the resources.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional statutory requirements.
Tangible fixed assets costing more than £1,000 are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write down the cost or valuation, less estimated residual value, of each asset on a systematic basis over their expected useful lives on a straight line basis.
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.
Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations throughout the year.
A subsidiary is an entity controlled by the trust. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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.
The trust 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 trust's balance sheet when the trust 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, 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.
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.
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
The charity operates a defined contribution pension scheme and a defined benefit pension scheme.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Obligations for contributions to the defined contribution pension scheme are charged to the statement of financial activities in the period to which the contributions relate.
For the defined benefit scheme, the pension costs are assessed using the projected unit of credit method and reviewed annually by independent actuaries. Service costs are charged to the statement of financial activities so as to spread the costs over the service lives of employees. Net interest on the net defined benefit liability/(asset) is determined by multiplying the net defined liability/(asset) by the discount rate, as determined at the start of the annual reporting period, taking account of any changes in the net defined benefit liability/(asset) during the period as a result of contributions and benefit payments. Net interest is charged to the statement of financial activities in the period.
Remeasurements of the net defined benefit liability/(asset) are charged through other comprehensive income in the period in which they occur. Remeasurement of the net defined benefit liability/(asset) recognised in the other comprehensive income is not reclassified to income or expenditure in a subsequent period. Remeasurement of the net defined benefit liability/(asset) comprise actuarial gains and losses, the return on plan assets, excluding amounts included in net interest on the net defined benefit liability/(asset).
If the defined benefit plan has been curtailed or settled during the year, the defined benefit obligation is decreased or eliminated, and the charity recognises the resulting gain or loss in the statement of financial activities in the current period.
In the application of the trust’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.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Deferred income is included in the financial statements as follows:
The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.
The company operates a defined benefit pension scheme. The scheme is a funded defined benefit pension scheme in the UK, the assets of which are held as a segregated fund and administered by trustees. The Company has agreed to a funding plan with the trustee, whereby ordinary contributions are made into the scheme based on a percentage of active employee's salary. Additional contributions are agreed with the trustee to reduce the funding deficit where necessary. The latest actuarial valuation was performed in 2025.
The assumed life expectations on retirement at age 65 are:
The amounts included in the balance sheet arising from the trust's obligations in respect of defined benefit plans are as follows:
The defined benefit obligations arise from plans which are wholly or partly funded.
The actual return on plan assets was £63,000 (2025 - £35,000).
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.
Mini Movers
Soft play and outdoor place for children under 4 years old.
Holiday Activity Fund
Positive activities for children of families receiving free school meals.
Independent Age
Feel Good Gold, luncheon club with social activities for vulnerable people over 60.
Nottingham Hostels Liaison Group (HLG)
Funds transferred to The Renewal Trust on the closure of Nottingham Hostels Liaison Group. To support the relief of poverty for those experiencing hardship.
New Roots
Branching out aimed to help break the cycle of reoffending by giving people on probation green skills, training and work experience, while reconnecting them with nature and each other to support their mental health.
Household support fund
This was issued by the Government and administered by NCC - is all about supporting those who are in financial crisis with essential/emergency support - food bags, warm meals, hygiene bags etc.
Active Partners Fund
APT administers a Sport England project called Place Partnership - trying to identify the 'crunchy issues' which stop families being physically active. The Renewal Trust delivered the programme in St Anns and Clifton.
Travel well
Money administered through NCC and provided grants for cycle and walking schemes to get people more active locally.
EMCCA (East Midlands Combined County Authority)
Mayoral funding for Dales ward through their Community Development Fund. Renewal Trust is the Lead body for this programme.
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 the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
During the year various transactions took place between The Renewal Trust and Hungerhill Trading Limited, a wholly owned subsidiary.
The Renewal Trust rents office space at Carlton Road Business Centre from Hungerhill Trading Limited, at market rate. The rental charge during the year was £13,860 (2025: £19,860)
At the balance sheet date, £34,824 (2025: £30,835) was owed by Hungerhill Trading Limited to The Renewal Trust.
These financial statements are separate trust financial statements for The Renewal Trust.
Separate company financial statements are required to be prepared by law.
Details of the trust's subsidiaries at 31 March 2026 are as follows:
The investments in subsidiaries are all stated at cost.
Hungerhill Developments Limited was dissolved on 28 April 2026.