GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED
30 SEPTEMBER 2021
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
* 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 2021.
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 MBE 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 £26,109 with £68,457 held on the unrestricted income fund as at 30 September 2021.
The value of the Investment fund has increased from £86,898 at 30 September 2020 to £104,081 at 30 September 2021. The fund generated £4,513 investment income to support the charity’s operational costs. There was a net unrealised gain of £16,657 during the year, and a profit of £535 on investments sold during the year adding a total positive movement to funds of £43,301.
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 4.64 %. 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. 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 £68,457 free reserves at the year-end which means this policy is fully achieved.
In addition to the unrestricted general fund the charity held designated reserves totalling £167,365 as detailed in note 13. This includes £104,081 in respect of the Investment fund which is held to create income, we are also endeavouring to build reserves as the warehouse roof needs replacing and 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 ninth year of operation Gift92 received 781 referrals, and made 717 deliveries of furniture and household items, assisting 1,532 people, of which 750 were dependent children, 129 were aged under 25 and 125 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 Covid19 pandemic. The charity continued to operate throughout the year this report covers with four paid members of staff and the role of Operations Manager undertaken by a Trustee ensuring that there was no disruption to the service provided.
We made 1,239 collections of household furniture mainly from the general public whose support is vital to our success and diverted 101,969 tonnes from landfill.
We delivered electrical appliances in conjunction with referrals throughout the year from LCC Crisis Support Scheme and during the period November 2020 to April 2021 from Preston Council Emergency Assistance Fund 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 renamed “Underoneroof” from 1[st] December 2021 supported by Selnet. The work was awarded the MRW National Recycling Partnership Award 2014. We serve west of Preston. South Ribble and the West Lancashire area including Chorley for the scheme.
In October 2021 Preston Council Household Assistance project was instigated and Gift92 delivery team are enabling referrals from the project to be delivered across Preston in a timely manner.
Page 3
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
TRUSTEES REPORT (CONTINUED)
The Trustees are grateful to: -
Our four long serving staff and 10 regular 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.
This report was approved by the Board of Trustees on 23[rd] February 2022 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 2021
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2021 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
----- Start of picture text -----
Date:
21 July 2022
Signed:
Name: Nicola Mason FCA DChA
Relevant professional Member of the Institute of Chartered Accountants
qualification
----- End of picture text -----
Page 5
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Unrestricted general income fund Income Note £ Grants and other income 419,854 Income from charitable activities 5 186,511 Total income 206,365 Expenditure Charitable activities 6 (177,826) Investment management charges - Total expenditure (177,826) Net income/(expenditure) before investment gains and losses 28,539 Realised investment gain/(loss) - Net unrealised investment gain/ (loss) - Transfers between funds Vehicle fund 13 (15,000) Warehouse fund 13 (15,000) Investment fund 14 (390) Redundancy reserve fund 3,340 Net movement in funds 1,489 Reconciliation of funds Total funds brought forward 66,968 Funds carried forward 68,457 |
Design - ated funds £ - - - (1,111) (400) (1,511) (1,511) 535 16,657 15,000 15,000 390 (3,3,40) 42,731 124,634 167,365 |
Restricted 2021 funds Total £ £ 4,849 24,703 - 186,511 4,849 211,214 (5,768) (184,705) - (400) (5,768) (185,105) (919) 26,109 - 535 - 16,657 - - - - - - - - (919) 43,301 48,224 239,826 47,305 283,127 |
2020 Total £ 49.922 155,424 |
|---|---|---|---|
| 205,346 | |||
| (148,916) (400) (149,316) |
|||
| 56,030 817 (21,586) - - - - |
|||
| 35,261 204,565 |
|||
| 239,826 |
Page 6
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
BALANCE SHEET
AS AT 30 SEPTEMBER 2021
| 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 |
£ 2,245 9,322 133,721 145,288 (13,734) |
2021 £ £ 47,492 104,081 1,709 9,934 103,613 115,256 (10,931) 131,554 - 283,127 68,457 63,284 104,081 47,305 283,127 |
2020 £ 48,603 86,898 104,325 - 239,826 66,968 37,736 86,898 48,224 239,826 |
|
|---|---|---|---|---|
CERTIFICATE OF TRUSTEES
The accounts were approved by the trustees on 23[rd] February 2022 and signed on their behalf by:
...................................................................... P R Metcalf MBE - Chairman
The notes on pages 8 to 15 form part of these accounts.
Page 7
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
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 2021
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 COVID-19 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.
| Employees Salary Redundancy Employer’s Pension contributions |
2021 £ 67,309 3,063 1,095 71,467 |
2020 £ 69,442 - 866 |
|---|---|---|
| 70,308 |
The average number of paid employees during the year was 4 full time and there were regularly ten volunteers who were unpaid. The role of Operations Manager has been undertaken by a trustee. During the Coronavirus pandemic several employees were placed in the Furlough scheme and one employee was made redundant in September 2021.
Page 9
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
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. Income Restricted grants HMRC Furlough Unrestricted grants PCC VCFS PCC Covid Grant FBC Covid Grant Total • Donations Unrestricted income Preston Guild Rotary Club Galloway Fund Anonymous JW Donations Total • Sundry income Vat input tax recoverable HMRC Gift aid tax repayment Investment Income Bank interest Total grants and other income 5. Income from charitable activities Landfill tax credits Referral, admin and delivery charges Shop income Sale of appliances & donated goods Total Total Grants and other income |
General funds £ - 10,000 - - 10,000 1,000 200 1,000 2,834 5,034 - 300 4,513 7 19,854 General funds 6,088 20,803 - 159,620 186,511 206,365 |
Restricted funds £ 4,849 - - - 4,849 - - - - - - - - - 4,849 Restricted funds - - - - - 4,849 |
2021 Total £ 4,849 10,000 - - 14,849 1,000 200 1,000 2,834 5,034 - 300 4,513 7 24,703 2021 Total 6,088 20,803 - 159,620 186,511 211,214 |
2021 Total £ 4,849 10,000 - - 14,849 1,000 200 1,000 2,834 5,034 - 300 4,513 7 24,703 2021 Total 6,088 20,803 - 159,620 186,511 211,214 |
2020 Total £ 11,811 10,000 10,000 10,000 |
|
|---|---|---|---|---|---|---|
| 41,811 | ||||||
| 1,500 300 - 1,893 |
||||||
| 3,693 | ||||||
| 345 75 3,960 38 |
||||||
| 49,922 | ||||||
| 2020 Total 4,096 14,872 40,533 95,923 |
||||||
| 155,424 | ||||||
| 211,214 | 205,346 |
Page 10
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 6. Cost of charitable activities Cost of Sales Cost of appliances bought Costs re sale of donated items Salary costs(JRS funding £4,849) Vehicle and travelling expenses Office and support costs Property costs (includes £919 from restricted funds) Depreciation (designated fund) 7. Tangible fixed assets Cost As at 1 October 2020/30 September 2021 Depreciation As at 1 October 2020 Charge for year As at 30 September 2021 Written down value 30 September 2021 30 September 2020 |
Freehold property £ 44,157 - - - 44,157 44,157 |
2021 £ 92,799 3,036 95,835 71,467 7,114 5,177 4,001 1,111 184,705 Van £ 20,440 15,994 1,111 17,105 3,335 4,446 |
2020 £ 54,782 3,338 |
|---|---|---|---|
58,120 70,308 8,308 7,554 3,144 1,482 |
|||
148,916 |
|||
| Total £ 64,597 |
|||
| 15,944 1,111 |
|||
17,105 |
|||
| 47,492 | |||
| 48,603 |
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 2021
| 8. Fixed asset investments Cash held on Listed investment investment portfolio £ £ Market value at 1 October 2020 86,838 60 Disposals at carrying value (4,492) - Income transferred - 263 Investment income capitalised 208 - Investments bought in year 4,870 (4,870) Net gains/(losses) on revaluation 16,657 - Investment management charge - (480) Sale proceeds - 5,027 Movement on accrued income - - Market value at 30 September 2021 104,081 - 2021 Market Cost value £ £ Investments Fixed interest bonds 41,314 42,311 Equities 44,566 35,174 Overseas 23,739 26,596 109,619 104,081 Cash on deposit - - Total 109,619 104,081 |
Total Total 2021 2020 £ £ 86,898 107,753 (4,492) (3,881) 263 - 208 394 - - 16,657 (21,586) (480) (480) 5,027 4,698 - - 104,081 86,898 2020 Market Cost value £ £ 41,107 35,712 39,696 24,519 28,561 26,607 109,364 86,838 325 60 109,689 86,898 |
|---|---|
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 2021 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 |
2021 2020 £ £ 5,679 5,633 1,658 1,538 - 150 - 840 1,558 1,025 427 748 9,322 9,934 |
|---|---|
Page 12
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 10. Cash at bank Cash Paypal Capital reserve Current account 11. Creditors – falling due within one year Referral fees in advance 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 - 3,335 Investments - 104,081 Net Current assets 83,457 44,949 Creditors due after one year - - Net assets 83,457 152,365 |
2021 £ 37 85 100,087 33,512 133,721 2021 £ 5,430 1,490 236 2,491 1,854 2,233 13,734 2021 Restricted Total £ £ 44,157 47,492 - 104,081 3,148 131,554 - - 47,305 283,127 |
2020 £ 17 3,425 50,080 50,091 103,613 2020 £ 4,450 (114) 161 3,815 1,270 1,349 10,931 2020 Total £ £ 48,603 86,898 104,325 239,826 |
|---|---|---|
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 designated this towards the cost of replacing the warehouse roof and have added a further £15,000 to the fund this year. Total fund carried forward £17,000
In accordance with recommended good employment practice the Redundancy Reserve Fund of £15,086 is based on the age of each employee as well as their length of time employed plus £12,864 entitlement in lieu of notice, a total of £27,950. One employee was made redundant in September 2021, hence the reduction on the provision carried forward at the year end.
The balance on the vehicle fund£18,334 includes £15,000 transferred from unrestricted reserves during the year designated towards replacing the charity’s vehicle.
Page 13
GUILD INITIATIVE FOR FURNITURE TRUST (Gift92)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
14.
| Designated funds Warehouse roof Redundancy reserve Vehicle Investment fund Total |
Brought forward Transfers £ £ 2,000 15,000 31,290 (3,340) 4,446 15,000 37,736 26,660 86,898 391 124,634 27,051 |
Expenses £ - - (1,112) (1,112) (400) (1,512) |
Gains/ transfers £ - - - - 17,192 17,192 |
Carried forward £ 17,000 27,950 18,334 |
|---|---|---|---|---|
63,284 104,081 |
||||
167,365 |
The transfers on the Investment fund relate to £471 income capitalised/ transferred to capital, 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.
| Property Warehouse maintenance Access to volunteering |
Brought forward £ 44,157 3,630 437 48,224 |
Income £ - - - - |
Expenses £ - (919) - (919) |
Transfers £ - - - - |
Carried forward £ 44,157 2,711 437 |
|---|---|---|---|---|---|
47,305 |
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