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2020-09-30-accounts

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

REPORT AND ACCOUNTS

FOR THE YEAR ENDED

30 SEPTEMBER 2020

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

CONTENTS

Page
CHARITY DETAILS 1
TRUSTEES’ REPORT 2 - 4
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES 5
STATEMENT OF FINANCIAL ACTIVITIES 6
BALANCE SHEET 7
NOTES TO THE ACCOUNTS 8 - 14

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

CHARITY DETAILS

Trustees/ Executive Committee: Chairman* P R Metcalf MBE, FCA, DChA Vice Chairman - E Lowes Treasurer - * Mrs A Metcalf FCA, DChA Secretary - * P D Taylor JP Councillor C Crompton T Greaves Councillor J Saksena (Preston City Council) K Sedgewick Councillor N Pomfret (Preston City Council) J Whittle (SVP) Mrs M Thompson (Churches Together)

* Finance & Executive Finance & Executive Committee
President (ex officio): Mayor of Preston City Council
Warehouse / Office: Unit 2, off Boundary Road
Plungington
Preston
PR2 3DS
Tel: 01772 716572
Registered Office: 1 Yewlands Avenue
Fulwood
Preston
Lancashire
PR2 9QR
Charity Number: 1015952
Bankers: National Westminster Bank PLC
35 Fishergate
Preston
Lancashire
Independent Examiner: N Mason FCA DChA
Moore and Smalley LLP
Richard House
Winckley Square
Preston
PR1 3HP
Investment Advisers: Hedley & Company Stockbrokers Ltd
13b Winckley Square
Preston
PR1 3JJ
Website:
 https://gift92.com/ https://www.facebook.com/Gift92

Page 1

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

TRUSTEES REPORT

The trustees present their report and the financial statements for the year ended 30 September 2020.

Objects and activities for the public benefit

The charity was established for the relief of poverty in the Preston area through reuse and recycling of household items. It was set up to collect donated items of furniture and household effects and delivers such items when requested to needy persons. In furtherance of these aims the charity co-operates with other outside bodies, statutory or voluntary, to assist in its objects and in particular Preston City Council, Lancashire County Council and the LCC Waste Group.

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

Constitution

The charity is a registered charity governed by a scheme and constitution approved by the Charity Commission on 28 December 1992.

Trustees

The charity is managed by a Committee of Trustees. During the Covid19 Coronavirus pandemic trustees have not been able to meet however operating reports have been circulated by email. The members of the Committee are elected at the AGM for a period of three years. One-third of the membership retires annually but may offer themselves for re-election. The trustees who have served during the year are set out on page 1.

Recruitment, induction and training of trustees

The existing trustees accept the obligation to fully inform a new trustee of the duties and responsibilities of charity trustees by providing the new trustee with copies of the governing document, minutes of previous meetings of the trustees, recent annual accounts of the charity and the relevant Charity Commission publication relating to the responsibilities of trustees.

New trustees are also able to view the Power Point presentation which the charity uses for promotional purposes and to inform new Referral Agents, Churches, community and social groups of how the charity operates and the valuable contribution made to the local community in the Preston area.

Key management

The trustees are the key management personnel of the charity with Mr P R Metcalf in charge of directing and controlling daily operations. All trustees give of their time freely, no trustee remuneration or expenses were paid in the year and there were no related party transactions.

Financial review

The accounts annexed to this report show a net surplus for the year of £35,261which increased the charity’s total funds from £204,565 to £239,826; of which £66,968 was held on the unrestricted income fund as at 30 September 2020.

The value of the Investment fund has decreased from £107,753 at 30 September 2019 to £86,898 at 30 September 2020. The fund generated £3,960 investment income to support the charity’s operational costs. There was a net unrealised loss of £21,586 and a realised profit of £817 on investments sold during the year. The significant fall in value at 30 September 2020 is due to the Covid19 Coronavirus pandemic which resulted in worldwide public lockdowns from March 2020 and are ongoing affecting business confidence and depressing stock markets.

Page 2

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

TRUSTEES REPORT (CONTINUED)

Investment policy and performance

Our investment advisers are instructed to seek a return generating in excess of inflation over the long term, providing an income of 4% per annum with capital growth in excess of inflation through the use of gilts, unit trusts and common investment funds. At the year end the investment portfolio was yielding 4.3%. The trustees receive quarterly valuation reports from the investment advisers.

The management of risk

The trustees are mindful of potential risks to the charity and regularly review and evaluate policies and procedures. The main risk to the charity is whether the Lancashire County Council Crisis Support Scheme will continue beyond 2021. Due to other charities recycling furniture in the Preston area which they sell to generate funds for their cause, there is considerable competition for usable donated household items.

Reserves policy

The Trustees aim to maintain free reserves in the unrestricted general fund which equates to approximately 6 months of unrestricted general expenditure. The charity held £66,968 free reserves at the year-end which represents in excess of 5 month’s expenditure.

In addition to the unrestricted general fund the charity held designated reserves totalling £124,634 as detailed in note 13. This includes £86,898 in respect of the Investment fund which is held to create income, we are also endeavouring to build reserves as our long-term aim is to locate to a larger warehouse as our current building which we have occupied since inception is not large and hinders expansion of operation.

Review of activities and achievements

During the charity's twenty eighth year of operation Gift92 received 516 referrals, and made 492 deliveries of furniture and household items, assisting 892 people, of which 397 were dependent children, 73 were aged under 25 and 121 formerly homeless. Preston is a city with high levels of deprivation and our service helps mitigate this. Our referral agencies confirm the clients need of our help and support our service financially with a contribution to our running costs. These agencies include social services, housing associations, homeless charities and local authority housing. The charity provides an essential service and introduced strict Covid19 virus control measures so that it could continue operating throughout the Coronavirus Covid19 pandemic. Initially three members of staff were placed on Furlough, whilst the driver assisted by one member of staff ensured that deliveries could be made to vulnerable clients. The role of Operations Manager continued to be undertaken by a Trustee ensuring that there was no disruption to the service provided.

We made 1,127 collections of household furniture mainly from the general public whose support is vital to our success and diverted 90.8 tonnes from landfill.

We offer electrical appliances in conjunction with a partner charity Preston Relief in Need acquiring new appliances from Currys and Ashton Domestic Appliances Ltd and recycling reusable items donated following PAT testing. The charity regularly links with the Harris Charity helping persons under 25.

The charity is one of four Lancashire reuse organisations that support Lancashire County Council Crisis Support Scheme. The work was awarded the MRW National Recycling Partnership Award 2014. We serve the centre of Preston and the West Lancashire area including Chorley for the scheme.

In November 2020 Preston’s Emergency Assistance project was instigated and Gift92 delivery team are enabling referrals from the project to be delivered in a timely manner.

Page 3

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

TRUSTEES REPORT (CONTINUED)

The ‘Bits and Bobs shop’ at Garstang’s Household Waste Recycling Centre was closed on 22[nd] March 2020 and was taken back by LCC Waste Group in May. The two members of staff were offered employment with LCC Waste Group in accordance with TUPE regulations.

The shop was very successful during the nearly three and a half years the charity ran it, generating additional items for reuse and funds to support our service and helping to publicise our work in the community and our free furniture collection service. The trustees thank the shop staff and volunteers for their commitment and the general public who supported the shop.

The Trustees are grateful to:-

Our five long serving staff (four full and one part time) and a number of volunteers, who have enabled the charity to efficiently maintain its service to the community.

The general public who have again contributed with regular furniture donations without which we could not fulfil our aims.

St Clare’s Catholic Church who enable our van to be parked overnight in a secure area.

Our service helps financially vulnerable persons avoid incurring crippling debt from expensive lenders when moving into empty properties. We have also signposted people to other agencies who can assist improving their circumstances.

We received funding this year from a number of charitable and statutory organisations recorded in the accounts for which we are extremely grateful (note 4). We continue not to charge for furniture as the people we serve are the neediest in Preston and have very limited resources.

Tax status

The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects

Independent examiner

Nicola Mason FCA, a Member of the Institute of Chartered Accountants, has kindly undertaken the examination of the accounts.

25/06/2021

This report was approved by the Board of Trustees on and signed on its behalf by:

…………………………………………………..

P R Metcalf MBE FCA DChA

Chairman of the Board of Trustees

Page 4

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

ON THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2020 which are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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 accounts to be reached.

Signed:
Name:
Relevant professional
qualification		 **Date: ** 25/06/2021
2021
Nicola Mason FCA DChA
Member of the Institute of Chartered Accountants

Page 5

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Unrestricted
general
income fund
Income
Note
£
Grants and other income 438,111
Income from charitable activities 5
155,424
Total income
193,535
Expenditure
Charitable activities 6
(135,130)
Investment management charges
-
Total expenditure
(135,130)
Net income/(expenditure) before
investment gains and losses
58,405
Realised investment gain/(loss)
-
Net unrealised investment gain/ (loss)
-
Transfers between funds
Investment fund 14
(314)
Redundancy reserve fund
(3,290)
Net movement in funds
54,801
Reconciliation of funds
Total funds brought forward
12,167
Total funds carried forward
66,968		 Design -
ated

funds

£

-

-

-

(1,482)
(400)

(1,882)

(1,882)

817
(21,586)

314

3,290
(19,047)
143,681
124,634		 Restricted

funds

£

11,811

-


11,811

(12,304)

-
(12,304)


(493)

-

-

-

-

(493)

48,717

48,224
2020

Total

£
49,922
155,424
205,346
(148,916)
(400)
(149,316)

56,030

817
(21,586)

-
-

35,261
204,565
239,826
2019

Total

£
17,178
156,442
173,620
(161,444)
(480)
(161,924)
11,696
(68)
(840)

-
-
10,788
193,777
204,565

Page 6

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

BALANCE SHEET

AS AT 30 SEPTEMBER 2020

Note
Fixed assets
7
Investments
8
Current assets
Stock
Debtors
9
Cash at bank and in hand
10
Liabilities
Creditors falling due within one year
11
Net current assets
Creditors falling due after one year
11
Net assets
12
Funds of the charity:
General unrestricted funds
Designated funds
13
Designated Investment fund
14
Restricted funds 15
Total charity funds		 £
1,709
9,934
103,613
115,256
(10,931)		 2020
£
£
48,603
86,898
3,044
17,582
49,609
70,235
(23,508)
104,325
-
239,826
66,968
37,736
86,898
48,224
239,826		 2019
£
50,085
107,753
46,727
-
204,565

12,167
35,928
107,753
48,717

204,565

CERTIFICATE OF TRUSTEES

25/06/2021

The accounts were approved by the trustees on and signed on their behalf by:

......................................................................

P R Metcalf MBE - Chairman

The notes on pages 8 to 14 form part of these accounts.

Page 7

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

Basis of accounting

The accounts (financial statements) have been prepared 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 on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The charity constitutes a public benefit entity as defined by FRS 102. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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 on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Fund accounting

General unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Designated funds comprise unrestricted funds that have been set aside and earmarked by the Trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. The aim and use of each restricted fund is set out in the notes to the financial statements.

Income

All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Grants restricted by the terms of the grantor are shown under restricted funds.

No amount is included in the financial statements for volunteer time in line with SORP (FRS102) Further details are given in the Trustees Annual Report.

Page 8

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Expenditure

The charity is registered for VAT. All expenditure is accounted for on an accruals basis and has been allocated between the different expenditure categories of the SOFA dependent on the fund financing those costs.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Going concern

The trustees are required to assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. The Trustees have considered the impact of Covid19 on the charity and are satisfied that they have a reasonable expectation of being able to manage the situation. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the closing quoted market price.

Realised gains and losses

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the previous year end and their carrying value.

Fixed assets and depreciation

The premises owned by the charity are shown at cost and are not depreciated. Depreciation has been charged at 25% on written down value of the van.

2.
Employees
Salary
Employer’s Pension contributions		 2020
£
69,442
866
70,308		 2019
£
81,792
787
82,579

The average number of paid employees during the year was 4 full time and 2 part-time and there were regularly ten volunteers. The role of Operations Manager has been undertaken by a trustee. During the Coronavirus pandemic several employees were placed in the Furlough scheme. Grants of £11,811 were received during the year from the Job Retention Scheme. Two of our Reuse shop employees left our employment on the 1st May 2020 and were offered employment by LCC Waste Group.

Page 9

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

3.

Trustees remuneration and expenses

No trustees or connected person has received or is due to receive any remuneration or other benefits directly or indirectly from the charity’s funds.

4.
Grants and other income
Restricted grants
HMRC Furlough
Unrestricted grants
PCC VCFS
PCC Covid Grant
FBC Covid Grant
Total Grants
Donations
Unrestricted income
Preston Guild Rotary Club
Galloway Fund
Donations
Total donations
Sundry income
Vat input tax recoverable
HMRC Gift aid tax repayment
Investment Income
Bank interest
Total other income
Total grants and other income
5.
Income from charitable activities
Landfill tax credits
Membership subscriptions
Referral, admin and delivery charges
Shop income
Sale of appliances & donated goods
Total Charitable activities
Total Income		 General
funds
£
-
10,000
10,000
10,000
30,000
1,500
300
1,893
3,693
345
75
3,960
38
8,111
38,111
General
funds
4,096
-
14,872
40,533
95,923
155,424

193,535







Restricted
funds
£
11,811
-
-
-
11,811
-
-
-
-
-
-
-
-
-
11,811
Restricted
funds
-
-
-
-

-
-

11,811
 2020
Total
£
11,811
10,000
10,000
10,000
41,811
1,500
300
1,893
3,693
345
75
3,960
38
8,111
49,922
2020
Total
4,096
-
14,872
40,533
95,923
155,424


205,346
2019
Total
£
-
10,000
-
-
10,000
-
-
1,158
1,158
-
170
5,813
37
7,178








2019
Total
3,878
480
16,979
52,161
82,944


156,442
173,620

Page 10

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

6.

Cost of charitable activities
Cost of Sales
Cost of appliances bought
LCC Levy
Costs re sale of donated items (£274 from restricted funds)
Salary costs(£11,811 from restricted funds)
Vehicle and travelling expenses
Office and support costs
Property costs (includes £219 from restricted funds)
Depreciation (designated fund)		 2020
£
54,782
-
3,338
58,120
70,308
8,308
7,554
3,144
1,482
148,916		 2019
£
47,575
7,172
4,947

59,694
82,579
7,077
7,070
3,047
1,977

161,444
7.
Tangible fixed assets
Cost
As at 1 October 2019/30 September 2020
Depreciation
As at 1 October 2019
Charge for year
As at 30 September 2020
Written down value
30 September 2020
30 September 2019		 Freehold
property
£
44,157
-
-
-
44,157
44,157		 Van
£
20,440
14,512
1,482
15,994
4,446
5,928		 Total
£
64,597
14,512
1,482

15,994
48,603
50,085

All of the assets are used in direct furtherance of the charity’s objects.

Page 11

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

8.
Fixed asset investments
Cash held on
Listed
investment
investment
portfolio
£
£
Market value at 1 October 2019
107,198
555
Disposals at carrying value
(3,881)
-
Investment income capitalised
394
-
Investments bought in year
4,713
(4,713)
Net gains/(losses) on revaluation
(21,586)
-
Investment management charge
-
(480)
Sale proceeds
-
4,698
Movement on accrued income
-
-
Market value at 30 September 2020
86,838
60
2020
Market
Cost
value
£
£
Investments
Fixed interest bonds
41,107
35,712
Equities
39,696
24,519
Overseas
28,561
26,607
109,364
86,838
Cash on deposit
325
60
Total
109,689
86,898
 Total
Total
2020
2019
£
£
107,753
109,141
(3,881)
(4,680)
394
-
-
-
(21,586)
(840)
(480)
(480)
4,698
4,612
-
-
86,898
107,753
2019
Market
Cost
value
£
£
40,349
39,389
42,887
38,569
23,849
29,240
107,085
107,198
555
555
107,640
107,753

All investments are carried at their fair value. Investments in equities and fixed interest securities are all traded on quoted public markets, primarily the London Stock Exchange.

Investments are valued using the mid-market value as at 30 September 2020 provided by the investment advisers Hedley and Company Stockbrokers Ltd.

9.
Debtors and accrued income
Debtors
Landfill tax credit
Delivery charges and referral fees
HMRC Furlough grant
Sundry debtors
Prepaid expenses		 2020
2019
£
£
5,633
10,866
1,538
951
150
2,795
840
-
1,025
2,360
748
610
9,934
17,582

Page 12

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

10.
Cash at bank
Cash
Paypal
Capital reserve
Current account
11.
Creditors – falling due within one year
Referral fees in advance
LCC
PAYE and NIC (Employers’ Nic recoverable)
NEST Pension
HMRC – Vat
Credit card
Sundry creditors and accrued expenses
Unrestricted
general Designated
12.
Analysis of net assets between funds
£

Fixed assets
-
4,446
Investments
-
86,898
Net Current assets
66,968
33,290
Creditors due after one year
-
-
Net assets
66,968 124,634		 2020
£
17
3,425
50,080
50,091
103,613
2020
£
4,450
-
(114)
161
3,815
1,270
1,349
10,931
2020
Restricted
Total
£
£


44,157
48,603

-
86,898

4,067 104,325
-
-

48,224 239,826
2019
£
107
3,582
25,043
20,877
49,609
2019
£
-
15,954
1,231
183
2,979
1,084
2,077
23,508

2019

Total
£
£
50,085
107,753
46,727
204,565

13. Designated funds

An award of £2,000 was received from the Institute of Chartered Accountants in England and Wales in recognition of the Treasurer’s involvement with the charity.

The Trustees have designated this towards the cost of replacing the warehouse roof.

In accordance with recommended good employment practice the Redundancy Reserve Fund of £19,058 is based on the age of each employee as well as their length of time employed plus £12,232 entitlement in lieu of notice, a total of £31,290.

The balance on the vehicle fund £4,446 is represented by the net book value of the vehicle owned by the charity.

Page 13

GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

14.

Designated funds
Warehouse roof
Redundancy reserve
Vehicle
Investment fund
Total		 Brought
forward Transfers
£
£
2,000
-
28,000
3,290
5,928
-
35,928
3,290
107,753
314
143,681
3,604		 Expenses

£

-

-
(1,482)

(1,482)

(400)

(1,882)
 Gains/
transfers

£

-

-
-

-
(20,769)
(20,769)		 Carried
forward

£

2,000

31,290
4,446


37,736

86,898


124,634

The transfers on the Investment fund relate to £394 income capitalised, less £80 vat recovered on the management charges.

15. Restricted funds

These are funds that can only be used for restricted purposes. Restrictions arise when specified by the donor. The restrictions are binding upon the Trustees of the charity.

Job retention scheme
Property
Warehouse maintenance
Access to volunteering		 Brought
forward
£
-
44,157
3,849
711
48,717
Income

£

11,811

-

-

-

11,811		 Expenses

£
(11,811)

-

(219)
(274)
(12,304)
Transfers

£

-

-

-
-

-		 Carried
forward

£

-

44,157

3,630
437

48,224

Property

The purchase of the property used as a warehouse was funded by a grant from National Lottery Charities Board in 1997. This fund represents the cost of the charity’s premises.

Warehouse maintenance

The remaining balance on this grant is held towards alterations and improvements to the warehouse.

Access to Volunteering

The remaining balance on this grant is held in respect of volunteering expenses.

Page 14