**Charity Registration No. 1008788**
**Company Registration No. 02624238 (England and Wales)**
## **CHILDREN’S SCRAPSTORE**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **CHILDREN’S SCRAPSTORE**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
|**CONTENTS**|**PAGE**|
|---|---|
|Reference & Administrative Information|1|
|Chair’s Report|2|
|Report of the Board of Trustees|3 - 11|
|Independent Auditor's report|12 - 14|
|Statement of financial activities (incorporating the income and expenditure account)|15 - 16|
|Balance sheet|17|
|Statement of cash flows|18|
|Notes to the financial statements|19 - 34|
## **CHILDEN’S SCRAPSTORE**
## **REFERENCE & ADMINISTRATIVE INFORMATION**
## **YEAR ENDED 31 MARCH 2024**
**Registered charity name** Children’s Scrapstore **Charity number** 1008788 **Company registration number** 02624238 **Registered office** Scrapstore House 21 Sevier Street St Werburgh’s Bristol BS2 9LB **Secretary** Ms C J Casswell **Trustees** Ms C J Casswell Ms B Cavender (resigned on 21 July 2024) Ms E J Collier Mr A Forster Ms S E Jaeckle Mr J Pendlington Ms F S Pugh-Jones (resigned on 11 July 2024) Ms V Shah-Dyan Mr P R Simpson (resigned on 5 January 2025) Ms J Ford (appointed 29 February 2024) **Independent Auditor’s** Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol. BS48 1UR **Solicitors** Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol. BS1 4QA **Bankers** HSBC Bank PLC 62 George Street Bristol. BS1 3 BA CAF Bank 25 Kings Hill Avenue West Malling Kent. ME19 4QJ Triodos Bank Deanery Road Bristol. BS1 5AS
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## **CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **The Chair’s report 2023/2024**
As trustees we are pleased to report the continued return to stability, and even growth, for Children’s Scrapstore since the challenges of the pandemic. There are still some activities that we pioneered then that have continued from that time and twice a year we participate in compiling activity packs for children in the city who would otherwise miss out, thanks to funding from the government funded Holiday Activities Fund.
Our long-standing Chair, Pete Simpson, has stepped down and to be succeeded by a job share in the role of Chair, taken by long-standing trustee Caroline Casswell and relative newbie Sally Jaeckle, which has proved to be very successful for the continuity of meetings. We would like to thank Pete for his calm good sense and navigation of the recent ups and downs of the pandemic period. We were also sad to see the departure of two Trustees – Bev Cavendar and Gwynneth Pugh, but we are delighted to welcome Jenny Ford to our group. With these changes, we acknowledged a need to be a bit more strategic about the skills we need in the trustee group. A trustee skills audit has been the next step towards more strategic recruitment campaign.
We have a wonderful staff team from the CEO's down. The managers and staff have in the main been here for a few years, and one or two a little longer, which makes for a stable, happy, well-oiled team, with everyone very busy and fully occupied. We are also extremely fortunate that when members of staff do leave, Scrapstore easily attracts like-minded people, who seem to be a good fit. Our team of volunteers is a strong and a vital part of the daily running of the charity helping to fulfil the practical tasks of involved in meeting our objectives.
We have continued to go through all the policies this year, reviewing aspects of staff employment terms and conditions, bringing them up to date.
For a number of years, we have been very aware of the deterioration of the fabric of the building and have been actively looking into a variety of options on how best to go forward. As we own the building and the land surrounding it, we are very pleased to have been able to develop a plan for this badly needed work, which has just recently been announced to the general public. A key first step was an externally facilitated workshop with just trustees and the CEO & Deputy. By holding it on a Sunday when the building is closed to the public and tenant organisations we were able to have a much needed open discussion about both the needs of the building and our needs as a continuously developing organisation.
We appointed external experts to help us to this end and currently have planning permission in the pipeline. It is vital that the building is upgraded and although it may be a bit disruptive in the short term, we are confident that it will enable Scrapstore to continue into the future, serving the local community as well as the thousands of members and children who benefit from our activities.
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## **CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
The Trustees are pleased to present their annual Trustees’ report, together with the consolidated financial statements of the charity and subsidiary for the year ended 31 March 2024, which are also prepared to meet the requirements for a Trustees’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards 102.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document and constitution**
The charity is a company limited by guarantee and therefore has no share capital. It is governed by a Memorandum and Articles of Association, dated 26 June 1991 (revised 14 December 2011). It is registered as a charity with the Charity Commission.
The Trustees are responsible for strategy, policy and financial oversight of the company. Implementation of this is delegated to the Chief Executive Officer and Deputy Chief Executive Officer.
## **Pay policy for senior staff**
Currently the Chief Executive Officer is a freelance consultant, and the Deputy Chief Executive Officer is a salaried member of staff. The remuneration for both is governed by the remuneration policy.
The charity’s Trustees perform the strategic lead for the charity, together with being responsible for the overview of all operational items which would potentially impact on the charity’s ability to meet its objects, maintain financial stability and affect the ethos of the charity. All Trustees give their time freely and no Trustee received remuneration for their duties as a Trustee in the year. No Trustees received remuneration for selected services during the year. Trustees are able to claim reasonable travel expenses during this year.
## **The policies and procedures adopted for the induction and training of Trustees**
When selecting new Trustees the charity seeks people who can bring relevant expertise.
Children’s Scrapstore continues to update the Trustees' handbook, ensuring that it adheres to the Charity Commission guidelines. The handbook and induction process are used to familiarise new Trustees with all aspects of the work done by the charity and briefs them on their legal obligations under charity and company law, the committee and decision-making process, and key staffs.
Trustees are made aware of the literature and websites of independent governance advisory agencies and can access these at any time.
## **Organisational structure and management of the charity by the board of Trustees**
The board of Trustees administers the charity. The board meets every six weeks, where financial reports are presented and discussed as well as operational and safeguarding reports. Other sub-groups are formed for specific activities as and when they occur. The Trustees delegate their responsibilities for the day-to-day administration of the charity to the senior management team.
The Trustees who served during the year are listed on page 1.
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
Children’s Scrapstore is the parent of a wholly owned subsidiary, Artrageous Creative Limited company number 08677366. This company was set up to administer the trading of the retail shop selling arts and crafts materials.
## **Major risk management**
The Trustees have a major risk management strategy which comprises:
- a regular review of the major risks and uncertainties that the charity and its subsidiary may face;
- the establishment of policies, systems and procedures to mitigate those risks identified in the plan;
- the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
A key element in the management of financial risk is the setting of a reserves policy and its regular review by Trustees.
Cost of living increases are impacting on both our costs, salaries and building, as well as our customers and funders prioritising their spending choices.
We have prepared strategic plans to increase both customer footfall and spend, launching a much improved online shop and reviewing our shop products offering to minimise slow moving stock.
We have plans to improve our supplier and member engagement by creating a role dedicated to supplier engagement and development.
We have commissioned an impact report to come out in May 2025 to showcase our work and the impact on all our stakeholders. We will use this to continue and improve our relationship with funders and partners.
The condition of the building we own is deteriorating and the costs of repairs are increasing. We have decided after much research to sell some of the land at either side of the building to raise the funds for a major refurbishment. This will include new roof, windows and cladding which will improve the carbon performance of the building.
Planning permission for 12 dwellings to be built on the land is due to be submitted to Bristol City Council by the end of January 2025. We hope permission will be granted within 2025 at which point we will endeavour to find a developer to purchase the land in 2026.
## **OBJECTIVES AND ACTIVITIES**
Our main activities and who we aim to help are described below. All of our charitable activities focus on the encouragement of Reuse, Art and Play and are undertaken to further our charitable objects for the public benefit.
## **Objects, as set out in the governing document**
The objects of the Scrapstore shall be: to provide, or assist in the provision of, facilities for recreation, education, and other leisure time activities for children, being facilities of which such children have need by reason of their age, or social or economic circumstances; and which will improve conditions of life for such children by promoting their educational, physical or mental well-being; to promote the use of waste materials as playthings.
## **How our activities deliver public benefit**
Children’s Scrapstore’s overarching aim is to promote the wellbeing of children, young people and adults through the provision of materials and facilities for creative and imaginative play. We do this through:
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
1. Waste collection and re-use
2. Provision of materials and facilities for play and creativity
3. Promotion of play and creativity for all
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit.
Children’s Scrapstore’s objective, therefore, is to allow children, young people and adults to play, experiment, and stimulate their imaginations with a variety of familiar and unusual, inexpensive materials through the re-use of safe and appropriate scrap - a chance they might not otherwise have. Children’s Scrapstore collects waste and surplus materials from industry and commerce and makes them available at very little cost to our member and supporter groups. The focus of Children’s Scrapstore’s work is to provide art and craft resources for creative play and education, provide other resources to complement this work, and to raise awareness of play, creativity and re-use.
## **Membership & supporters**
Membership is open to any groups or individuals working or volunteering with a group of children, young people or adults in a creative, play, care, educational, therapeutic or community setting. We have a limited access scheme, Supporters Plus, open to the public and designed to support playing and creativity at home whilst minimising the impact on the amount of scrap available to our members.
Our membership includes playgroups, nurseries, crèches, parent and toddler groups, resources and activities centres, cubs, scouts, guides, brownies, beavers, woodcraft folk, city farms, adventure playgrounds, hospitals, arts, environmental, care homes, theatre groups, schools, universities and colleges. Many of our members have limited budgets and rely heavily on the value for money resources that Children’s Scrapstore provide. The resources range from off-cuts of paper, card, wood, fabrics and hot air balloon material to plastic trays, boxes and empty tins.
## **Fundraising**
Children’s Scrapstore’s approach to fundraising is carried out with the objective of raising funds to support core and project work. All fundraising is carried out through recognised funds or trusts, and the charity does not approach the public for any fundraising purposes. We work with a professional fundraiser for half a day per week. No complaints from the public have been documented.
## **Volunteers**
We have a volunteer group as well as some corporate volunteers who support a number of services we offer in the charity. They mainly prepare resources that we use for various events and activity packs. We could not produce the number of activity packs we do (710 in 2024) without their efforts. In 2024 they provided 170 days of volunteering
## **Future developments and sustainability**
Primarily our charitable activities focus on the encouragement of play and creative activities and are undertaken to further our charitable objects for the public benefit. We play a strategic role in Reuse, Art and Play both locally and nationally. We have spent time this year continuing to build infrastructure support in these three sectors. We continue to build and develop partnerships and act as a focus for local and regional organisations and leaders in these sectors.
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Refurbishment of the building**
The condition of the building we own is deteriorating and the costs of repairs are increasing. We have decided after much research to sell some of the land at either side of the building to raise the funds for a major refurbishment. This will include new roof, windows and cladding which will improve the carbon performance of the building.
We have appointed a team of experts to ensure that we manage this project appropriately, ensuring best value and compliance with building rules and regulations.
Planning permission for 12 dwellings to be built on the land is due to be submitted to Bristol City Council by the end of January 2025. We hope permission will be granted within 2025 at which point we will endeavour to find a developer to purchase the land in 2026.
## **New tenancies**
The lease of our major tenant is ending on 31[st] March 2025. The negotiations for the new leases are reaching a conclusion and we have appointed a valuer to supply a report to support the proposed rent and service charge.
One other lease ends at 31[st] March 2025 but the tenant has already committed to stay at the same rent and service charge for another 12 months.
## **Replace old equipment**
Our stacker in the warehouse is a ‘vintage’ model so with the support of some funding from Clothmakers Foundation we have purchased a new stacker. We aim to make improvements to our storage systems in the warehouse and replace some other small ageing equipment including projectors.
## **Shop and Membership**
## **Sourcing new suppliers for shop stock**
A number of our suppliers have gone out of business or are struggling with their supply lines. This has impacted on the variety and prices of stock in the Art shop. We will be finding new suppliers and product ranges in the coming year.
## **Increasing membership and footfall**
Membership numbers are still not at pre pandemic levels, so we intend to increase the current numbers by 10% with targeted marketing to groups who are unrepresented in our membership.
The Art shop is going to improve the customer experience with better signage and increased and more engaging social media.
## **Increase the charity profile in the city with enhanced networking and partnerships**
Engage with new partners, new user groups and attend different networks. We need to increase and target our advertising in line with our family arts project, and target SEND, asylum seekers, refugees and families living in poverty.
Broaden our volunteering opportunities to more departments.
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## **CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Increasing Family Arts activities and profile**
We are going to make connections with new groups around the city letting them know about the family arts campaign and seeing how they can get involved Reaching out to individual relevant organisations and attending networking events.
We are doing some fundraising to be able to offer free events to underserved families.
We will use flyers, posters and social media advertising to grow the email list so more families can find out about network members’ activities.
## **ACHIEVEMENTS AND PERFORAMCE OF THE CHARITY**
## **A review of activities**
## **Partnerships**
## **Community Play Delivery – Play Ranging**
We were able to fund the continuation of the pilot project in Frome Vale/Oldbury court developing a partnership approach to delivery. This session has been run weekly since October 2023, and we regularly get 28 children attending.
We have secured funding to hold a second session all year round in Lawrence Weston, sessions are placed at different locations on the estate. This weekly session started in October 2023, and we regularly get 20.
We have supported a session to develop in Avonmouth and taken a holistic approach running training for potential local staff and building partnerships and connections in the area. This session is now running weekly and have handed it over to community partners in October 2024. We are now starting sessions in Sea Mills and will hope to hand these over in 2025.
## **Supporting routes into employment for play work**
We have designed four short courses and have become accredited trainers for ‘Playway’ which is an entry level play work course. We have delivered six short courses and three ‘Playway’ courses. The attendees have been a mixture of volunteers and new starters in local organisations, people interested in play work as a career.
We have linked up with local providers of level 2 & 3 in play work to ensure the timing of the courses supports progression.
## **Family Ambassador work – Family Arts**
We reinitiated the family arts network locally and held a consultation with families about the barriers for attendance at family arts events. Just over 70 hard to reach families engaged in this consultation. This information has been built into the plans for the network and will be repeated in 2024/2025.The network currently has 19 active partners. We have secured £9,305 to hold family arts provision outside the centre of the city. Our focus includes working with refugees and asylum seekers, children living in poverty and disabled children.
We have just started to send out a newsletter to keep families updated and to signpost professionals to promote family arts opportunities, this currently goes out to 7 families or professionals working with families, but the numbers are expected to grow.
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Financial base**
## **Providing affordable spaces for activities and meetings**
We refurbished the large space in the building as ‘The Creative Den’ and have been promoting this to partners, and local groups. We are currently renting the space approximately twice a month, and we are promoting via social media. People who visit the space often comment that it is a lovely, bright space but this has not yet converted into regular bookings.
## **Raising money for building refurbishment and development.**
We engaged the services of: Architects - Marshall Kendon – Sam Kendon Development consultant - Mark Tucker Surveyor – Paul Swindlehurst Environmental consultant – Up Energy – Alistair Pilcher
They have helped us to begin the plans for the development as well as advised on strategies to raise funds. We have decided to sell two parcels of land either side of the main building to raise the funds for the refurbishment and will engage with the local community and councillors to gauge support for this. Up Energy have started their work on the current condition of the building and the architects have produce various plans and ideas for consideration.
The trustees have appointed four of their number to form a building group and this group as well as the professional advisors, CEO and deputy CEO meet every two months to discuss updates on the project which are then reported back to the main board. Planning application should be submitted at the end of January 2025.
## **Improve our presence locally**
## **Increasing our social media presence**
Our new marketing assistant role was more focussed on social media and messaging. Content production and output increased by 300% and we introduced our content onto more platforms. We started a members Facebook group as a forum for members to share ideas and find out what else is happening in the city.
We worked in partnership with other local organisations and our free Super Saturday free activity offering was held in conjunction with two other organisations.
## **Exhibition at SPARKS – (in the old Marks & Spencer building in Broadmead)**
We engaged with the exhibition by sending a variety of scrap sculptures, other scrap items, posters signposting the public to donate their safe clean waste to Scrapstore and to find out more about Scrapstore. In partnership with sustainable fashion week we ran a t-shirt upcycling workshop for families attended by 8 groups.
We continue to have conversations with SPARKS about when we can next work together.
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Holding a successful Reuse Fair**
We held a Reuse Fair in our car park, in September 2023, and as well as lots of activities run by our staff, we showcased the work by lots of reuse focused partners. We worked hard at attracting a diverse audience by making sure our social media and advertising were placed in a much wider range of locations than we have ever tried before. Over 850 children and adults attended and we took feedback from many of the attendees :
‘Keep what you are doing, everyone was very helpful and friendly. Really good initiative with really great group of people’
‘It’s been so lovely to chat to people about reuse and such’
‘It’s fun finding new ways to give new life to things, thanks for the inspiration’
‘I think reusing is good and today was good because we got to go into the warehouse. I will come again.’
We held our naming competition for our robot and had lots of entries and the winners were celebrated on this day. This was the most successful competition we have ever held.
## **Intern and work experience**
We employed an intern to help with the Reuse Fair as part of the UWE undergraduate intern scheme. They helped us contact and liaise with suitable partners, helped with marketing the event and they rebuilt the Reuse Fair page on our website. On the day they helped the communications team to record the day.
We hosted two work experience students who worked in all departments of the charity.
## **Improve processes**
## **Continuing to embed systems and processes into the charity**
The health and safety team carry out regular Health & Safety walk-rounds and have identified and rectified a number of issues and this has vastly improved the standards in the building. The walk-rounds continue to be carried out.
We employed an office administrator to assist with the day to day running of the charity and administer room bookings. As above, room bookings have not reached the predicted levels so this post was made redundant.
## **Investment performance**
Surplus short-term funds are held in an interest-bearing deposit account, on which small levels of income were received.
## **FINANCIAL REVIEW**
## **Transactions and financial position**
The Trustees consider the financial performance during the year.
The accounts are set out on pages 15 to 34. The accounts have been prepared implementing the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards 102 issued by the Charity Commission for England and Wales.
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
The Statement of Financial Activities (SOFA) shows net (expenditure)/income for the year of a revenue nature.
The total at the foot of the Balance Sheet shows the total reserves at the year end.
## **Policies on reserves**
The policy is to maintain reserves at the level necessary to sustain the planned activities of the charity.
The accounting policies (Note l) sets out the funds being operated and their respective applications.
The **Designated fund** is maintained at a level equivalent to the investment in the freehold property less the mortgage. This is held within the building and forms the basis of Scrapstore’s stability and flexibility.
The **General fund** accumulated surplus is intended to be raised to a level equal to between 3 and 6 months of expenditure which equates to approx. £292k- £584k based on this year’s results. At this level the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding.
However, the general fund of the group stood at £245,518 at 31 March 2024, which represented £46,482 less than the 3 month level set by the Trustees’ policy to retain. The Trustees’ long term plan is to restore them to this level. The Trustees recognise this shortfall and are satisfied that the policy of no further borrowing against the value of the property would ensure that the asset would cover the eventuality of a complete failure of funds either as a bridging or redundancy support.
**Restricted funds** , if any, are spent in line with the donor’s wishes or funder’s agreements as soon as possible.
The proposed sale of land with planning permission to fund improvements to the main building had incurred professional fees totalling £83,175 to December 2024. We expect £100,000 more costs in 2025/2026 to successfully gain planning permission and complete a sale of the land to a developer. At the end of 2024 general unrestricted funds stand at £245,518, with designated funds at £945,068.
The main mortgage Triodos Bank for the building was settled in full 2024/2025 so monthly payments are much reduced, and trading profits are expected to be in excess of £30,000 for 2025/2026.
## **Principal funding sources**
Funding is via membership fees, trading arm surplus, events, donations for scrap, sales of PlayPods, Play Services, grants and fundraising. During this year our reliance on grant funding reduced due to the increase in trading income.
## **Investment policy and objectives**
The Trustees have wide powers of investment. Surplus short- term funds are held in an interest- bearing deposit account.
## **Availability and adequacy of assets of each of the funds**
The board of Trustees is satisfied that the charity’s assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
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**CHILDREN’S SCRAPSTORE**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Changes in fixed assets**
Changes in fixed assets are shown in detail in note 12 to the accounts. There has been capital expenditure of £13,200 this year, and the assets continue to be repaired and maintained as and when necessary.
## **Governance:**
The board of Trustee provide strategic governance of the charity and adhere to all legal and statutory obligations as well as Charity Commission guidance.
## **Statement of Trustees’ responsibilities**
The trustees (who are also directors of Children’s Scrapstore for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Re-porting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 charitable company and the group and of the income and expenditure, of the charitable group for that period. 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 judgments and accounting 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 charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditors are unaware; and
- the trustees have taken all steps that they ought to make themselves aware of that information.
The board of trustees approved the reappointment of Burton Sweet as auditors for 2024/2025 on 29[th] January 2025.
Approved by the board on 29th January 2025 and signed on its behalf by:
……………………………………………. C Casswell Trustee – Co-Chair
Date: ……………………………………..29 January 2025
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## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
## **Independent auditor’s report to the members of Children’s Scrapstore**
## **Opinion**
We have audited the financial statements of Children’s Scrapstore (the “Charity and the group”) for the year ended 31 March 2024 which comprise the group and charity Statement of Financial Activities, the group and charity Balance Sheet, the consolidated Cash Flow Statement and notes to the financial statements, including a summary of 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 group and Charity’s affairs as at 31 March 2024 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted out audit in accordance with international Standards in 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 group and 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 directors’ 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 group and 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 directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other
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## **CHILDREN’S SCRAPSTORE**
## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
information. 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 the fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable law requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us;
- the financial statements are not in agreement with the accounting records and returns;
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not obtained all the information and explanations necessary for the purposes of our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees 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 they 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 group and 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 group or Charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
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.
13
## **CHILDREN’S SCRAPSTORE**
## **INDEPENDENT AUDITOR’S REPORT**
## **YEAR ENDED 31 MARCH 2024**
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- we identified the laws and regulations applicable to the group and charity through discussions with those charged with governance and other management, and from our knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, pensions, environmental and health and safety legislation; and
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, inspecting legal correspondence and remaining alert during the audit for any indications of non-compliance.
Our audit procedures in relation to fraud included but were not limited to:
- making enquiries of those charged with governance and other management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- discussing amongst the engagement team the risks of fraud;
- gaining an understanding of the internal controls in place to mitigate risks of fraud and noncompliance with laws and regulations;
- testing journal entries to identify unusual transactions;
- assessing whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigating the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditors/audit-assurance-ethics/auditors-responsibilities-forthe-audit . This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state in 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’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Joshua Kingston ACA (Senior Statutory Auditor)**
For and on behalf of Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Jan 29 2025 Bristol BS48 1UR Date: ……………………………
14
## **CHILDREN'S SCRAPSTORE**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)**
## **YEAR ENDED 31 MARCH 2024**
|**Note**
**Income from:**
Grants and donations
**2**
Charitable activities
**3**
Other trading activities
**4**
Investments
Other income
**Total income**
**Expenditure on:**
Raising funds
**5**
Charitable activities
**6**
**Total expenditure**
**8**
**Total funds at start of year**
**21**
**Total funds at end of year**
**21**
**Net income/(expenditure) and**
**net movement in funds**|**Unrestricted**
**Funds**
**£**
180,360
340,529
420,565
953
-|**Restricted**
**Funds**
**£**
148,650
-
-
-
-|**Total Funds**
**2024**
**£**
329,010
340,529
420,565
953
-|Total Funds
2023
£
284,194
319,613
379,993
95
175|
|---|---|---|---|---|
||942,407|148,650|1,091,057|984,070|
||286,506
742,945|-
139,345|286,506
882,290|251,390
719,951|
||1,029,451|139,345|1,168,796|971,341|
||(87,044)
1,277,630|9,305
3,366|(77,739)
1,280,996|12,729
1,268,267|
||1,190,586|12,671|1,203,257|1,280,996|
The Group has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the Group are classed as continuing.
See note 11 for the comparative Statement of Financial Activities.
**The notes on pages 19 to 34 form part of these financial statements.**
15
## **CHILDREN'S SCRAPSTORE**
## **THE CHARITY'S STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024**
|**Note**
**Income from:**
Grants and donations
**2**
Charitable activities
**3**
Other trading activities
**4**
Investments
Other
**Total income**
**Expenditure on:**
Raising funds
**5**
Charitable activities
**6**
**Total expenditure**
**8**
**Total funds at start of year**
**21**
**Total funds at end of year**
**21**
**Net income/(expenditure) and**
**net movement in funds**|**Unrestricted**
**Funds**
**£**
190,762
340,529
321,936
953
-|**Restricted**
**Funds**
**£**
148,650
-
-
-
-|**Total Funds**
**2024**
**£**
339,412
340,529
321,936
953
-|Total Funds
2023
£
284,194
319,613
287,496
95
175|
|---|---|---|---|---|
||854,180|148,650|1,002,830|891,573|
||196,837
742,945|-
139,345|196,837
882,290|169,295
719,951|
||939,782|139,345|1,079,127|889,246|
||(85,602)
1,267,228|9,305
3,366|(76,297)
1,270,594|2,327
1,268,267|
||1,181,626|12,671|1,194,297|1,270,594|
The Charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
See note 11 for the comparative Statement of Financial Activities.
**The notes on pages 19 to 34 form part of these financial statements**
16
## **CHILDREN'S SCRAPSTORE**
## **BALANCE SHEETS**
|**AS AT 31 MARCH 2024**||||**Company number: 02624238**|**Company number: 02624238**|
|---|---|---|---|---|---|
|||**Group**|**Charity**|Group|Charity|
|||**2024**|**2024**|2023|2023|
|**Fixed assets**|**Note**|**£**|**£**|**£**|**£**|
|Tangible assets|**12**|1,080,396|1,080,396|1,107,615|1,107,615|
|Investments|**13**|-|100|-|100|
|||1,080,396|1,080,496|1,107,615|1,107,715|
|**Current assets**||||||
|Stock|**14**|47,034|-|43,762|-|
|Debtors|**15**|105,322|144,991|82,432|113,831|
|Cash at bank and in hand||293,010|293,010|382,109|382,109|
|||445,366|438,001|508,303|495,940|
|**Liabilities**||||||
|Creditors : amounts falling||||||
|due within one year|**16**|(232,737)|(234,432)|(211,127)|(209,266)|
|**Net current assets**||212,629|203,569|297,176|286,674|
|**Total assets less current liabilities**||1,293,025|1,284,065|1,404,791|1,394,389|
|Creditors : amounts falling||||||
|due after more than one year|**17**|(89,768)|(89,768)|(123,795)|(123,795)|
|**Net assets**||1,203,257|1,194,297|1,280,996|1,270,594|
|**FUNDS**||||||
|**Unrestricted funds**||||||
|General funds|**22**|245,518|236,558|352,839|342,437|
|Designated funds|**22**|945,068|945,068|924,791|924,791|
|**Restricted funds**|**22**|12,671|12,671|3,366|3,366|
|**Total funds**||1,203,257|1,194,297|1,280,996|1,270,594|
Trustees responsibilities:
- The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The accounts have been prepared in accordance with the provisions applicable to the small companies' regime and in accordance with FRS102 SORP.
These financial statements were approved by the Trustees on 29 January 2025 and are signed on their behalf by:
…........................................................
C J Casswell Trustee – Co-Chair
**The notes on pages 19 to 34 form part of these financial statements**
17
## **CHILDREN'S SCRAPSTORE**
## **CONSOLIDATED STATEMENT OF CASH FLOWS**
## **YEAR ENDED 31 MARCH 2024**
|**Note**
**Net cash (outflow)/ inflow from operating activities**
**18**
**Non-operational cash flows:**
**Investing activities**
Payments for tangible fixed assets
Investment income
**Financing activities**
Loan repayments
**Net cash (outflow)/inflow for the year**
**19**
**Cashflow Restrictions**|**2024**
**£**
(24,816)
(13,200)
953
(12,247)
(52,036)
(52,036)
(89,099)|2023
£
40,296
(30,670)
95|
|---|---|---|
|||(30,575)
(51,105)|
|||(51,105)|
|||(41,384)|
||||
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.
**The notes on pages 19 to 34 form part of these financial statements**
18
**CHILDREN'S SCRAPSTORE**
**NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2024**
## **1 Accounting policies**
## **Accounting convention**
The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006.
The charity is a public benefit entity as defined under FRS102. The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern.
## **Basis of consolidation**
The Consolidated Statement of Financial Activities (SOFA), Consolidated Balance Sheet and Consolidated Cash Flow Statement consolidate the financial statements of the Charity and its subsidiary, Artrageous Creative Limited. The results of the subsidiary are consolidated on a line by line basis.
## **Income**
Income from donations is included in income when these are receivable, except as follows:
I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Income from contracts for the supply of goods and services is recognised with the delivery of the contracted good and/or service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Investment income is included on a receivable basis.
Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness.
Income from donations for scrap is recognised when receivable, either when donations are received from visitors to the warehouse for scrap materials taken, or materials are delivered to schools to refill their supplies.
## **Expenditure**
Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
## _**Raising funds**_
Raising funds expenditure include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale.
## _**Charitable Activities**_
Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of its activities and services. It includes both costs that can be allocated directly to this activity and those costs of an indirect nature necessary to support them.
Support costs and other costs that cannot be directly attributed to activities are allocated on a basis consistent with the use of the resource.
19
**CHILDREN'S SCRAPSTORE**
**NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2024**
- **1 Accounting policies** _**(continued)**_
## _**Governance costs**_
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
## _**Allocation and apportionment costs**_
Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time.
Overhead support costs have been allocated between fundraising and publicity costs, fundraising trading and charitable activities. The apportionment has been allocated on the basis of income received for the activity and is analysed in note 7.
## **Pension costs and other post-retirement benefits**
The charity contributes to defined contribution pension schemes. Contributions payable to the charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate.
## **Tangible fixed assets**
Fixed assets are held at cost less accumulated depreciation. Assets costing less than £250 are not capitalised. Depreciation is calculated so as to write off the cost of an asset, less its estimated ultimate residual value, over the useful life of that asset as follows:
Land and Buildings - over 50 years; straight line on buildings, no depreciation charged on land. Improvements to Property - over 50 years; straight line
Furniture and Equipment - over 4 years; straight line
Motor vehicles - over 4 years; straight line
## **Fixed asset investments**
Investments in subsidiaries and associates are included at cost less impairment at 31 March. The SOFA includes the net gains and losses arising on revaluations and disposals during the year.
## **Stock**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined using the Average cost method (AVCO). Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Donated items are not valued in stock and recognised in income only when sold.
## **Trade debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.
## **Cash and cash equivalents**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.
20
**CHILDREN'S SCRAPSTORE**
**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024**
## **1 Accounting policies** _**(continued)**_
## **Fund accounting**
Free funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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 can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in notes to the financial statements.
## **2 Income from: Grants and donations**
|**Group & Charity**
Donations
Donation from Artrageous Creative Limited
Donations for scrap
Grants
**Total Charity**
Inter-group activity
**Total Group**
**Prior year**
**Group & Charity**
Donations
Donations for scrap
Grants
**Total for Group & Charity**|**Unrestricted**
**Funds**
**£**
3,575
10,402
176,785
-|**Restricted**
**Funds**
**£**
-
-
-
148,650|**Total Funds**
**2024**
**£**
3,575
10,402
176,785
148,650|
|---|---|---|---|
||190,762
(10,402)|148,650
-|339,412
(10,402)|
||180,360|148,650|329,010|
||**Restricted**
**Funds**
**£**
1,951
180,720
5,818|**Unrestricted**
**Funds**
**£**
-
-
95,705|**Total Funds**
**2023**
**£**
1,951
180,720
101,523|
||188,489|95,705|284,194|
Included in grant income are amounts totalling £82,239 (2023: £54,256) received from Bristol City Council.
## **3 Income from: Charitable activities**
|**Group & Charity**
Contract income
Membership subscriptions
Play & Playpod income|**Unrestricted**
**Funds**
**£**
22,773
65,539
252,217|**Restricted**
**Funds**
**£**
-
-
-|**Total Funds**
**2024**
**£**
22,773
65,539
252,217|
|---|---|---|---|
||340,529|-|340,529|
21
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **3 Income from: Charitable activities (** _**continued**_ **)**
|**Prior year**
Membership subscriptions
Play & Playpod income|**Unrestricted**
**Funds**
**£**
60,774
258,839|**Restricted**
**Funds**
**£**
-
-|**Total Funds**
**2023**
**£**
60,774
258,839|
|---|---|---|---|
||319,613|-|319,613|
## **4 Income from: Other trading activities**
|Rental income
**Total Charity**
Artrageous Creative Limited - Shop sales
Inter-group activity
**Total Group**
Management charge - Artrageous Creative
Limited|**Unrestricted**
**Funds**
**£**
256,044
65,892|**Restricted**
**Funds**
**£**
-
-|**Total Funds**
**2024**
**£**
256,044
65,892|**Total Funds**
**2023**
**£**
234,496
53,000|
|---|---|---|---|---|
||321,936
164,521
(65,892)|-
-
-|321,936
164,521
(65,892)|287,496
145,497
(53,000)|
||420,565|-|420,565|379,993|
All income received for other trading activities in the prior year was unrestricted.
## **5 Expenditure on: Raising funds**
**Current year**
|||||
|---|---|---|---|
|**Current year**
Property rental income costs
**Total Charity**
Artrageous Creative Limited
Less inter-group activity
**Total Group**
**Prior year**
Property rental income costs
**Total Charity**
Artrageous Creative limited
Less inter-group activity
**Total Group**|**Direct costs**
**£**
54,415|**Support costs**
**£**
142,422|**Total Funds**
**2024**
**£**
196,837|
||54,415
155,561
(65,892)|142,422
-
-|196,837
155,561
(65,892)|
||144,084|142,422|286,506|
||**Direct costs**
**£**
55,283|**Support costs**
**£**
114,012|**Total Funds**
**2023**
**£**
169,295|
||55,283
135,095
(53,000)|114,012
-
-|169,295
135,095
(53,000)|
||137,378|114,012|251,390|
22
**NOTES TO THE FINANCIAL STATEMENTS**
## **CHILDREN'S SCRAPSTORE**
## **YEAR ENDED 31 MARCH 2024**
## **6 Expenditure on: Charitable activities**
|**Group & Charity**
ReUse
Art
Play
PlayPods
**Prior year**
ReUse
Art
Play
PlayPods|**Direct**
**Costs**
**£**
104,571
6,981
206,306
180,538|**Support**
**Costs**
**(Note 7)**
**£**
141,473
3,842
112,947
125,632|**Total Funds**
**2024**
**£**
246,044
10,823
319,253
306,170|
|---|---|---|---|
||498,396|383,894|882,290|
||**Direct**
**Costs**
**£**
100,069
7,018
151,355
164,602|**Support**
**Costs**
**(Note 7)**
**£**
118,276
2,392
62,105
114,134|**Total Funds**
**2023**
**£**
218,345
9,410
213,460
278,736|
||423,044|296,907|719,951|
## **7 Support costs**
Support costs are allocated between raising funds and charitable activities on the basis of staff time. Support costs, included in notes 5 & 6, are as follows:
|**Current year**
Staff costs
Office costs
Building costs
Governance costs
(Note 8)
**Prior year**
Staff costs
Office costs
Building costs
Governance costs
(Note 8)|**Fundraising**
**and**
**publicity**
**£**
56,847
44,788
38,141
2,646|**Charitable**
**Activities**
**£**
153,232
120,724
102,807
7,131|**Total**
**2024**
**£**
210,079
165,512
140,948
9,777|
|---|---|---|---|
||142,422|383,894|526,316|
||**Fundraising**
**and**
**publicity**
**£**
54,862
29,403
28,623
1,124|**Charitable**
**Activities**
**£**
142,866
76,555
74,560
2,926|**Total**
**2023**
**£**
197,728
105,958
103,183
4,050|
||114,012|296,907|410,919|
23
**YEAR ENDED 31 MARCH 2024**
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **8 Net income/(expenditure) for the year**
This is stated after charging:
|This is stated after charging:||||
|---|---|---|---|
|||**2024**|2023|
|||**£**|£|
|Independent Examiner's fees|- for independent examination|-|1,900|
||- for accounts preparation|-|2,150|
||- prior year over accrual|(2,500)|-|
|Auditor's remuneration|- for audit services|9,675|-|
||- for accounts preparation|3,475|-|
|Trustees' travel, meeting and|training expenses (2 trustees)|355|-|
|Depreciation||36,593|33,262|
## **9 Staff costs and numbers**
The aggregate payroll costs were:
|The aggregate payroll costs were:|||
|---|---|---|
|Wages & salaries
Social security costs
Pension contributions|**2024**
**£**
483,355
28,962
18,791|2023
£
385,170
24,890
15,550|
||531,108|425,610|
The average weekly number of employees (including senior management/leadership team) during the year was:
|Support staff
Charitable activities|**2024**
**£**
3
27|2023
£
3
21|
|---|---|---|
||30|24|
No employee received emoluments of more than £60,000 during either the current, or preceding year.
## **Key management personnel**
The trustees consider themselves and the following to be key management personnel: the Chief Executive Officer and the Deputy Chief Executive Officer. (In the prior year this also included the Operations co-ordinator, Play team co-ordinator and Membership co-ordinator.)
During the year, the total employee benefits of key management personnel were £82,338 (2023: £82,395).
## **10 Taxation**
The charity is exempt from corporation tax on its charitable activities.
24
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **11 Statement of Financial Activities comparative figures**
|**Group**
**For the year ended 31 March 2023**
**Income from:**
Grants and donations
Charitable activities
Other trading activities
Investments
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income/(expenditure) for the year**
**and net movement in funds**
**Total funds at start of year**
**Total funds at end of year**
**Charity**
**For the year ended 31 March 2023**
**Income from:**
Grants and donations
Charitable activities
Other trading activities
Investments
Other income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income/(expenditure) for the year**
**and net movement in funds**
**Total funds at start of year**
**Total funds at end of year**|**Unrestricted**
**Funds**
**£**
188,489
319,613
379,993
95
175|**Restricted**
**Funds**
**£**
95,705
-
-
-
-|**Total Funds**
**2023**
**£**
284,194
319,613
379,993
95
175|
|---|---|---|---|
||888,365|95,705|984,070|
||251,390
620,428|-
99,523|251,390
719,951|
||871,818|99,523|971,341|
||16,547
1,261,083|(3,818)
7,184|12,729
1,268,267|
||1,277,630|3,366|1,280,996|
||**Unrestricted**
**Funds**
**£**
188,489
319,613
287,496
95
175|**Restricted**
**Funds**
**£**
95,705
-
-
-
-|**Total Funds**
**2023**
**£**
284,194
319,613
287,496
95
175|
||795,868|95,705|891,573|
||169,295
620,428|-
99,523|169,295
719,951|
||789,723|99,523|889,246|
||1,261,083
6,145|7,184
(3,818)|1,268,267
2,327|
||1,267,228|3,366|1,270,594|
25
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **12 Tangible fixed assets**
|**Group**
**Cost or valuation**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
**Charity**
**Cost or valuation**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Land and**
**Buildings**
**£**
550,000
-
-|**Property**
**Improvements**
**£**
808,476
-
(6,488)|**Furniture**
**and**
**Equipment**
**£**
108,437
2,220
(102,849)|**Website**
**Development**
**£**
2,000
-
(2,000)|**Motor**
**vehicles**
**£**
111,088
10,980
(50,722)|**Total**
**£**
1,580,001
13,200
(162,059)|
|---|---|---|---|---|---|---|
||550,000|801,988|7,808|-|71,346|1,431,142|
||20,400
5,500
-|262,162
16,620
-|104,782
1,416
(102,849)|2,000
-
(2,000)|83,042
13,057
(53,384)|472,386
36,593
(158,233)|
||25,900|278,782|3,349|-|42,715|350,746|
||524,100|523,206|4,459|-|28,631|1,080,396|
||529,600|546,314|3,655|-|28,046|1,107,615|
||**Land and**
**Buildings**
550,000
-
-|**Property**
**Improvements**
**£**
808,476
-
(6,488)|**Furniture**
**and**
**Equipment**
**£**
101,152
2,220
(95,564)|**Website**
**Development**
**£**
2,000
-
(2,000)|**Motor**
**vehicles**
**£**
111,088
10,980
(50,722)|**Total**
**£**
1,572,716
13,200
(154,774)|
||550,000|801,988|7,808|-|71,346|1,431,142|
||20,400
5,500
-|262,162
16,620
-|97,497
1,416
(95,564)|2,000
-
(2,000)|83,042
13,057
(53,384)|465,101
36,593
(150,948)|
||25,900|278,782|3,349|-|42,715|350,746|
||524,100|523,206|4,459|-|28,631|1,080,396|
||529,600|546,314|3,655|-|28,046|1,107,615|
26
**NOTES TO THE FINANCIAL STATEMENTS**
## **CHILDREN'S SCRAPSTORE**
## **YEAR ENDED 31 MARCH 2024**
## **13 Investments**
Shares in group undertakings and participating interests
|**Subsidiary**||
|---|---|
|**Undertakings**|**Total**|
|**£**|**£**|
|100|100|
|||**Subsidiary**
**Undertakings**
**Total**
**£**
**£**|**Subsidiary**
**Undertakings**
**Total**
**£**
**£**|**Subsidiary**
**Undertakings**
**Total**
**£**
**£**|
|---|---|---|---|---|
|**Cost or valuation**
At 1 April 2023 and at 31 March 2024
Details of undertakings
**Company name**
**Holding**
**2024**
**2023**
Artrageous Creative Limited
Ordinary
100%
100%
**Artrageous Creative Limited**
Turnover
Cost of sales
**Gross profit**
Administrative expenses
**Operating profit**
Interest payable and similar charges
**Profit before taxation**
Tax charge for the year
**Profit for the period**
Retained earnings brought forward
Less donation to parent Charity
**Retained earnings carried forward**
**14 Stock**
**2024**
**2023**
**£**
**£**
Stocks
47,034
43,762
**Proportion of voting rights**
**and shares held**
**Country of**
**incorporation**
England and
Wales
**Group**||100|100||
||**Principal activity**
**£**
**£**
164,521
145,497
(82,242)
(76,197)
82,279
69,300
(73,319)
(58,898)
8,960
10,402
-
-
8,960
10,402
-
-
8,960
10,402
10,402
-
(10,402)
-
8,960
10,402
**2024**
**2023**
**£**
**£**
-
-
**Year ended 31**
**March 2024**
Sale of art supplies
**Year ended**
**31 March**
**2023**
**Charity**||||
27
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **15 Debtors**
|**Due in less than one year:**
Trade debtors
Due from group undertakings
Prepayments and accrued income
Other debtors
**Creditors: amounts falling due within one year**
Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
**Deferred income**
At 1 April 2023
Resources deferred in the period
Amounts released from previous periods
At 1 April 2024
**Creditors: amounts falling due after one year**
Bank loans|**2024**
**2023**
**£**
**£**
73,497
69,026
10,402
-
21,423
11,926
-
1,480
105,322
82,432
**2024**
**2023**
**£**
**£**
33,749
51,758
48,997
42,832
31,115
28,195
3,566
1,808
104,908
86,534
232,737
211,127
**2024**
2023
**£**
£
89,768
123,795
**Group**
**Group**
**Group**|**2024**
**2023**
**£**
**£**
73,497
69,026
50,071
32,783
21,423
11,926
-
96
144,991
113,831
**2024**
**2023**
**£**
**£**
33,749
51,758
47,055
32,580
46,329
37,686
3,566
1,808
103,733
85,434
234,432
209,266
**2024**
2023
**£**
£
71,621
91,615
366,535
240,108
(348,273)
(260,102)
89,883
71,621
**2024**
2023
**£**
£
89,768
123,795
**Charity**
**Charity**
**Charity**|
|---|---|---|
## **16 Creditors: amounts falling due within one year**
## **17 Creditors: amounts falling due after one year**
The bank loans due within one year and after more than one year include a mortgage taken out to purchase Scrapstore House which is secured on the property. The mortgage is for 21 years and bore interest during the year of between 3.25% and 3.57% per annum. The amount due after more than 5 years is £42,731 (2023: £45,502).
The remaining loan amount is a 'Bounce Back' Loan, taken out in 2020, at an interest rate of 2.5% per annum. This loan is unsecured and repayable by instalments over 10 years.
28
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **18 Reconciliation of net movement in funds to net cash inflow from operating activities**
|Statement of Financial Activities: Net movement in funds
Investment income
Depreciation
Increase/ (decrease) in operational creditors: current liabilities
(Increase)/ decrease in operational debtors
Increase in stock
Loss on disposal of fixed assets
**Net cash (outflow)/inflow from operating activities**
**Analysis of changes in cash during the year**
Cash at bank and in hand
Cash at bank and in hand|**2023**
**£**
293,010|**2024**
**£**
(77,739)
(953)
36,593
39,619
(22,890)
(3,272)
3,826|2023
£
12,729
(95)
33,262
(12,010)
11,119
(4,709)
-|
|---|---|---|---|
|||(24,816)|40,296|
|||2023
£
382,109|**Change**
**£**
(89,099)|
||**2023**
**£**
382,109|2022
£
423,493|**Change**
**£**
(41,384)|
## **19 Analysis of changes in cash during the year**
## **20 Analysis of changes in net debt**
## **Current year**
|Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Total|**At 1 April 2023**
**£**
382,109
(51,758)
(123,795)|**Operating**
**cash flows**
**£**
(24,816)
-
-|**Investing**
**cash flows**
**£**
(12,247)
-
-|**Financing**
**cash flows**
**£**
(52,036)
18,009
34,027|**At 31 March**
**2024**
**£**
293,010
(33,749)
(89,768)|
|---|---|---|---|---|---|
||206,556|(24,816)|(12,247)|-|169,493|
29
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **21 Movement in funds**
**For the year ended 31 March 2024**
|**Restricted funds**
Family Arts Campaign
Sustainable Play Project
BCC HAF Winter Packs
BCC HAF Capital Fund
BCC HAF Strategic Support
BCC HAF Delivery
BCC HAF Capital Inclusion
HAF Capital Upshot
BCC HAF Additional Training
BYCA Fund
Playful Bristol General Restricted Fund
Play Day
BCC Play and Youth Grants
East Bristol Children's Centre Sessions
Children Living in Temporary Accommodation
BCC Clean Air Zone Assistance Scheme
**Unrestricted funds**
Designated Building fund
General funds
**Total funds Charity**
Artrageous Funds
Inter-entity transactions
**Total funds Group**|**At 1 April**
**2023**
**£**
-
365
-
-
-
2,568
-
-
-
-
433
-
-
-
-
-|**Income**
**£**
15,929
34,049
22,454
649
13,000
12,018
1,000
3,227
2,450
1,800
432
3,000
20,942
7,200
6,000
4,500|**Expenditure**
**£**
(6,624)
(34,049)
(22,454)
(649)
(13,000)
(12,018)
(1,000)
(3,227)
(2,450)
(1,800)
(432)
(3,000)
(20,942)
(7,200)
(6,000)
(4,500)|**Transfers**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**At 31 March**
**2024**
**£**
9,305
365
-
-
-
2,568
-
-
-
-
433
-
-
-
-
-|
|---|---|---|---|---|---|
||3,366
924,791
342,437|148,650
-
854,180|(139,345)
(22,120)
(917,662)|-
42,397
(42,397)|12,671
945,068
236,558|
||1,267,228|854,180|(939,782)|-|1,181,626|
||1,270,594|1,002,830|(1,079,127)|-|1,194,297|
||10,402
-|164,521
(76,294)|(155,561)
65,892|(10,402)
10,402|8,960
-|
||10,402|88,227|(89,669)|-|8,960|
||1,280,996|1,091,057|(1,168,796)|-|1,203,257|
30
**CHILDREN'S SCRAPSTORE**
**NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2024**
**21 Movement in funds** _**(continued)**_
## **Restricted funds**
**Family Arts Campaign** - Funds received to support and coordinate the local Family Arts network, linking with the other Ambassadors around the country with the aim of increasing variety of opportunity and diversity of audience.
**Sustainable Play Project** - Funding received to provide outreach sessions, training and support for non-play organisations and sector support.
**BCC HAF Funds** - Funds received from Bristol City Council to provide Activity packs and play sessions for eligible children. Small capital resources. Funds were also received for supporting the strategy for this program.
**BYCA Fund** - Funds received for providing play sessions for 8-12 year olds to support positive activities during May, October and February half term school holidays.
**Playful Bristol** - Funds for the website cost and upkeep, social media input and IT support, publicity.
**Playful Bristol/Oldbury Court 'Plus 16'** - Funding received to run outreach sessions at Oldbury Court.
**Playful Bristol General Restricted Fund** - Funds received to support the ongoing work of Playful Bristol, venue hire, networking, shared resources.
**Play Day** - Funds received for the coordination and delivery of a Play Day celebratory event at 3 locations in Bristol in partnership with Playful Bristol. Part of National Play Day.
**Square Food Equipment** - a small capital grant received for catering equipment.
**BCC Play and Youth Grants** - Funds received for provision of 2 play rangers sessions per week. Support the development of play in North Bristol.
**East Bristol Children's Centre Sessions** - Funds received for delivering play session in Oldbury courts Children Centre.
**Children Living in Temporary Accommodation** - Funds received for provision of activity packs and play resources for children living in temporary accommodation.
**BCC Clean Air Zone Assistance Scheme** - Local government contribution and support towards the purchase of a Clean Air Zone complaint vehicles to continue service provision in Bristol City Centre.
## **Designated funds**
**Building fund -** the trustees have set aside funds representing the net book value of the property, less the value of mortgages secured on the property.
31
## **CHILDREN'S SCRAPSTORE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **21 Movement in funds** _**(continued)**_
**For the year ended 31 March 2023**
|**Restricted funds**
Family Arts Campaign
Family Arts Campaign 2022-2023
Sustainable Play Project
BCC HAF Fund Easter 2022
BCC HAF Summer 2022
BCC HAF Strategic Support Apr-Sept 22
BCC HAF Winter Packs 2022
BCC HAF Capital Fund
BCC HAF Strategic Support Oct-Dec 2022
BCC HAF Strategic Support Jan-Mar 2023
BCC HAF Delivery
BYCA 2022-2023
Playful Bristol
Playful Bristol/Oldbury Court 'Plus 16'
Playful Bristol 2022/2023
Playful Bristol General Restricted Fund
Play Day 2022
Square Food Equipment
**Unrestricted funds**
Designated Building Fund
General funds
**Total funds Charity**
Artrageous Funds
Inter-entity transactions
**Total funds Company**
**Total funds Group**|**At 1 April**
**2022**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
2,984
4,200
-
-
-
-|**Income**
**£**
2,844
2,040
31,665
3,900
11,200
6,250
19,860
448
3,125
3,125
2,568
1,800
-
-
3,780
-
3,000
100|**Expenditure**
**£**
(2,844)
(2,040)
(31,300)
(3,900)
(11,200)
(6,250)
(19,860)
(448)
(3,125)
(3,125)
-
(1,800)
-
(4,200)
(3,780)
(2,551)
(3,000)
(100)|**Transfers**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
(2,984)
-
-
2,984
-
-|**At 31 March**
**2023**
**£**
-
-
365
-
-
-
-
-
-
-
2,568
-
-
-
-
433
-
-|
|---|---|---|---|---|---|
||7,184
889,773
371,310|95,705
-
795,868|(99,523)
(17,370)
(772,353)|-
52,388
(52,388)|3,366
924,791
342,437|
||1,261,083|795,868|(789,723)|-|1,267,228|
||1,268,267|891,573|(889,246)|-|1,270,594|
||-
-|145,497
(53,000)|(135,095)
53,000|-
-|10,402
-|
||-|92,497|(82,095)|-|10,402|
||1,268,267|984,070|(971,341)|-|1,280,996|
32
**NOTES TO THE FINANCIAL STATEMENTS**
## **CHILDREN'S SCRAPSTORE**
## **YEAR ENDED 31 MARCH 2024**
## **22 Analysis of net assets between funds**
|**Charity**
**As at 31 March 2024**
Tangible fixed assets
Investments
Current assets
Current liabilities
Creditors over one year
**Total charity**
**As at 31 March 2023**
Tangible fixed assets
Investments
Current assets
Current liabilities
Creditors over one year
**Total charity**
**Group**
**As at 31 March 2024**
Tangible fixed assets
Current assets
Current liabilities
Creditors over one year
**Total group**
**As at 31 March 2023**
Tangible fixed assets
Current assets
Current liabilities
Creditors over one year
**Total group**|**Restricted**
**Funds**
**£**
-
-
12,671
-
-|**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,047,306
33,090
-
100
-
425,330
(30,516)
(203,916)
(71,722)
(18,046)
945,068
236,558
**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,075,914
31,701
-
100
-
492,574
(48,886)
(160,380)
(102,237)
(21,558)
924,791
342,437
**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,047,306
33,090
-
432,695
(30,516)
(202,221)
(71,722)
(18,046)
945,068
245,518
**Unrestricted**
**Unrestricted**
**Unrestricted**|**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,047,306
33,090
-
100
-
425,330
(30,516)
(203,916)
(71,722)
(18,046)
945,068
236,558
**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,075,914
31,701
-
100
-
492,574
(48,886)
(160,380)
(102,237)
(21,558)
924,791
342,437
**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,047,306
33,090
-
432,695
(30,516)
(202,221)
(71,722)
(18,046)
945,068
245,518
**Unrestricted**
**Unrestricted**
**Unrestricted**|**Total**
**£**
1,080,396
100
438,001
(234,432)
(89,768)|
|---|---|---|---|---|
||12,671|945,068|236,558|1,194,297|
||**Restricted**
**Funds**
**£**
-
-
3,366
-
-|||**Total**
**£**
1,107,615
100
495,940
(209,266)
(123,795)|
||3,366|924,791|342,437|1,270,594|
||**Restricted**
**Funds**
**£**
-
12,671
-
-|||**Total**
**£**
1,080,396
445,366
(232,737)
(89,768)|
||12,671|945,068|245,518|1,203,257|
||**Restricted**
**Funds**
**£**
-
3,366
-
-|**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
1,075,914
31,701
-
504,937
(48,886)
(162,241)
(102,237)
(21,558)
**Unrestricted**||**Total**
**£**
1,107,615
508,303
(211,127)
(123,795)|
||3,366|924,791
352,839||1,280,996|
33
**CHILDREN'S SCRAPSTORE NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2024**
## **23 Related parties**
During the year, the charity made the following related party transactions:
## **Linden Accountants Limited**
Linden Accountants Limited carry out bookkeeping services for the charity and are controlled by K Fowler, the CEO of the Charity, and her immediate family.
During the year, Linden Accountants provided services totalling £68,932 (2023: £61,363) to the charity. The charity charged rent to Linden Accountants of £23,899 (2023: £21,847). The amount payable to Linden Accountants at the year end totalled £6,837 (2023: £6,214) and the amount receivable from Linden Accountants was £297 (2023: £423). No amounts have been written off in the period in respect of amounts due to or from Linden Accountants.
The Charity has taken advantage of the exemption under FRS 102 section 33 not to disclose transactions with entities, 100% of whose voting rights are wholly controlled by Children's Scrapstore.
Except for the above, there are no related party transactions in addition to those disclosed throughout the financial statements.
34